Document:

EXHIBIT 10.1

THE ONE GROUP HOSPITALITY, INC.

411 West 14th Street, 2nd
Floor

New York, New York 10014

 

 

March 23, 2018

 

KWM | Philotimo

5850 Coral Ridge Drive

Suite 309

Coral Springs, FL 33076

 

Attention: David Kanen

 

Re:       Letter
Regarding Designee to Board of Directors

 

 

Dear Mr. Kanen:

This letter agreement
(the “Agreement”) is by and among David Kanen and Kanen Wealth Management LLC (“Kanen Wealth
Management”) (collectively, the “Kanen Group”, and each individually a “member”
of the Kanen Group) and The ONE Group Hospitality, Inc. (the “Company”).

 

The Kanen Group beneficially
owns 4,855,194 shares of the common stock of the Company (the “Common Stock”), which represents approximately
17.3% of the issued and outstanding shares of Common Stock based upon the amendment to Schedule 13D filed on December 29, 2017
by members of the Kanen Group with the United States Securities and Exchange Commission (the “SEC”).

 

In consideration of and reliance upon the
mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:

 

1.       Designee
of One Board Member. Subject to Section 1(a) and 1(b) below, Kanen Group and the Company agree that provided that the Kanen
Group beneficially owns at least 10% of the Company’s outstanding Common Stock, Kanen Group shall have the right to designate
one member to the Company’s Board of Directors (the “Board”).

 

(a)       Kanen
Wealth Management has provided names of prospective nominees which are listed on Schedule A attached hereto (“Nominees”)
to be considered for one seat on the Company’s Board.

 

(b)       The
Company has engaged in a thorough process of evaluating the qualifications and background of each of the Nominees and will submit
one of the Nominees to the Board for approval (the “Designee”). In the event that the Board does not
approve any of the Nominees, Kanen Wealth Management has the right but not the obligation to submit additional prospective nominees
until one is approved by the Board.

 

     

    	EXHIBIT 10.1

    

(c)       The
Designee will be appointed as a Class I director with a term expiring in 2020, provided that the Kanen Group beneficially owns
at least 10% of the Company’s Common Stock.

 

(d)       The
Company agrees that the Designee shall be appointed to at least one of the standing committees of the Board.

 

(e)       The
Company agrees that the Designee shall receive (i) the same benefits of director and officer insurance, and any indemnity arrangements
available generally to the directors on the Board, (ii) the same compensation for service as a director as the compensation received
by other non-employee directors on the Board, and (iii) such other benefits on the same basis as all other non-employee directors
on the Board.

 

 

2.       Standstill.
Each member of the Kanen Group agrees, that it will not, and will cause its Affiliates or Associates (as such terms are defined
in Rule 12b-2 promulgated by the SEC under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
and its respective principals, directors, general partners, officers, employees, and agents and representatives acting on their
behalf (collectively and individually, the “Kanen Affiliates” not to, directly or indirectly, absent
prior express written invitation or authorization by the Board:

 

(a)              
make, engage in or in any way participate in, directly or indirectly, any “solicitation” (as such term is used
in the proxy rules of the SEC but without regard to the exclusion set forth in Rule 14a-1(1)(2)(iv) of the Exchange Act) of proxies
or consents with respect to the election or removal of directors of the Company or any other matter or proposal or become a “participant”
(as such term is used in the proxy rules of the SEC) in any such solicitation of proxies or consents from the Company’s shareholders;

 

(b)              
encourage, influence or advise any other Person or assist any Person in so encouraging, influencing or advising any Person
with respect to the giving or withholding of any proxy, consent or other authority to vote the Company’s shares (other than
such encouragement or advice that is consistent with the Board’s recommendation in connection with such matter);

 

(c)              
form, join, encourage, influence, advise, act in concert with or in any way participate in, directly or indirectly, any
“group” as defined pursuant to Section 13(d) of the Exchange Act, with respect to any Voting Securities, other
than solely with Kanen Affiliates with respect to Voting Securities now or hereafter owned by them;

 

(d)              
(i) engage in, or become a party to, any swap or hedging transaction or other derivative agreement of any nature with respect
to Voting Securities or (ii) acquire, or offer, seek or agree to acquire, by purchase or otherwise, or direct any third party in
the acquisition of, any Voting Securities, or rights or options to acquire any Voting Securities of the Company, or engage in any
swap or hedging transactions or other derivative agreements of any nature with respect to Voting Securities, in each case of clause
(i) or clause (ii);

 

     

    	EXHIBIT 10.1

    

(e)              
sell, offer or agree to sell, directly or indirectly, through swap or hedging transactions or otherwise, voting rights decoupled
from the underlying common stock of the Company held by the Kanen Group or any Kanen Affiliate to any Third Party (as defined below);

 

(f)               
sell, offer or agree to sell, directly or indirectly, through swap or hedging transactions or otherwise, the securities
of the Company or the underlying securities of the Company held by the Kanen Group or a Kanen Affiliate that would knowingly result
in such Third Party, together with its affiliates and associates, owning, controlling or otherwise having any beneficial or other
ownership interest in the aggregate of more than 4.9% of the shares of the Company’s common stock outstanding at such time
(including due to such Third Party, together with its affiliates and associates, owning, controlling or otherwise having any beneficial
or other ownership interest in more than 4.9% prior to such sale, offer or agreement to sell), except in a transaction approved
by the Board;

 

(g)              
effect or seek to effect, offer or propose to effect, cause, make or in any way participate, directly or indirectly, (or
in any way assist or facilitate any other person to do so) in any tender offer, exchange offer, merger, consolidation, acquisition,
business combination, recapitalization, restructuring, liquidation, dissolution or extraordinary transaction involving the Company
or any of its subsidiaries or the Company’s securities or a material amount of the assets of the Company and its subsidiaries
(“Extraordinary Transaction”), taken as a whole, or frustrate or seek to frustrate any Extraordinary
Transaction proposed or endorsed by the Company, or make any public statement with respect to an Extraordinary Transaction (it
being understood and agreed that the foregoing shall not restrict the Kanen Group from tendering shares, receiving payment for
shares or otherwise participating in any such transaction on the same basis as other stockholders of the Company, or from participating
in any such transaction that has been approved by the Board); or make, directly or indirectly, any proposal, either alone or in
concert with others, to the Company or the Board that would reasonably be expected to require a public announcement regarding any
of the types of matters set forth above in this Section 2;

 

(h)              
enter into a voting trust or proxy, arrangement or agreement or subject any Voting Securities to any voting trust or proxy,
arrangement or agreement, in each case other than solely with other Kanen Affiliates, with respect to Voting Securities now or
hereafter owned by them and other than granting proxies in solicitations approved by the Board;

 

(i)                
engage in any short sale or any purchase, sale or grant of any option, warrant, convertible security, stock appreciation
right, or other similar right (including any put or call option or “swap” transaction) with respect to any security
(other than a broad-based market basket or index) that includes, relates to or derives any significant part of its value from a
decline in the market price or value of the securities of the Company;

 

(j)                
(i) except as set forth in Section 1 of this Agreement, seek, alone or in concert with others, election or appointment to,
or representation on, the Board, or nominate or propose the nomination of, or recommend the nomination of, any candidate to the
Board; or (ii) seek, alone or in concert with others, the removal or resignation of any member of the Board;

 

     

    	EXHIBIT 10.1

    

(k)              
make or be the proponent of any stockholder proposal (pursuant to Rule 14a-8 under the Exchange Act or otherwise);

 

(l)                
(i) call or seek to call any meeting of stockholders, including by written consent, (ii) except as set forth in Section
1 of this Agreement, seek representation on, or nominate any candidate to, the Board, (iii) seek the removal of any member of the
Board, (iv) solicit consents from stockholders or otherwise act to seek or act by written consent, or (v) conduct a referendum
of stockholders;

 

(m)            
make any request for stock list materials or other books and records of the Company under Section 220 of the Delaware General
Corporation Law or other statutory or regulatory provisions providing for shareholder access to books and records;

 

(n)              
make any public statement or public proposal or request with respect to or take any action in support of (i) any change
in the number or term of directors or the filling of any vacancies on the Board, (ii) any change in the capitalization or dividend
policy of the Company, (iii) any other material change in the Company’s management, business or corporate structure, (iv)
any waiver, amendment or modification to the Company’s certificate of incorporation or By-Laws, or other actions which may
impede the acquisition of control of the Company by any person, (v) causing a class of securities of the Company to be delisted
from, or to cease to be authorized to be quoted on, any securities exchange or (vi) causing a class of equity securities of the
Company to become eligible for termination of registration pursuant to Section 12(g) (4) of the Exchange Act;

 

(o)              
institute, solicit, assist or join (or threaten to do so) any litigation, action, complaint, arbitration or other proceeding
against or involving the Company or any of its current former or future directors, officers, employees, stockholders or Affiliates
(including derivative actions), in order to effect or take any of the actions expressly prohibited by this paragraph 13;

 

(p)              
make any statement or announcement that constitutes an ad hominem attack on, or otherwise disparages or causes to be disparaged,
the Company, any of the Company’s Affiliates, or any of the Company’s past, present or future officers or directors
appointed during the term of this Agreement;

 

(q)              
 make any public disclosure, announcement or statement regarding any intent, purpose, plan or proposal with respect to the
Board, the Company, its management, policies or affairs, any of its securities or assets or this Agreement that is inconsistent
with the provisions of this Agreement;

 

(r)               
enter into any discussions, negotiations, agreements or understandings with any Third Party to take any action that the
Kanen Group is prohibited from taking pursuant to this Section 2;

 

(s)               
make any request or submit any proposal to amend or waive the terms of this Agreement, in each case which would reasonably
be expected to result in a public announcement of such request or proposal; or

 

(t)                
disclose any intention, plan or arrangement to do any of the foregoing.

 

     

    	EXHIBIT 10.1

    

 

(u)              
As used in this paragraph 13, the term (a) “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated
under the Exchange Act and shall include Persons who become Affiliates of any Person subsequent to the date of this Agreement;
(b)“Person” shall be interpreted broadly to include, among others, any individual, general or limited partnership,
corporation, limited liability or unlimited liability company, joint venture, estate, trust, group, association or other entity
of any kind or structure; (c) “Third Party” means any Person that is not the Kanen Group or an Affiliate of the Kanen
Group; and (d) “Voting Securities” shall mean the shares of common stock of the Company and any other securities of
the Company entitled to vote in the election of directors, or securities convertible into, or exercisable or exchangeable for,
such shares or other securities, whether or not subject to the passage of time or other contingencies.

 

These standstill restrictions terminate upon the earliest to
occur of (i) the end of the term for which a Designee is appointed (or such longer period as the Designee or, in certain circumstances,
a replacement director selected pursuant to the Agreement, continues to serve on the Board), (ii) ten calendar days prior to the
deadline for the submission of shareholder nominations for the Company’s 2019 annual meeting of stockholders (but only in
the event that the Kanen Group beneficially owns 10% or more of the Company’s outstanding shares of Common Stock and the
appointed Designee has tendered his resignation on or before such date) and (iii) five business days after such date, if any, that
the Kanen Group provides written notice to the Company that the Company materially breached any of its commitments under the Agreement
and where the Company has not cured such breach within 15 business days after such written notice (such period, the “Standstill
Period”).

 

During the Standstill Period, the Kanen Group has also agreed
to vote its shares in favor of the Company’s nominees of existing directors for election to the Board and in accordance with
any recommendations of the Board on certain other matters. The Company agrees that during the Standstill Period neither it, nor
any of its officer, directors or employees, will make any statement or announcement that constitutes an ad hominem attack on, or
otherwise disparages or causes to be disparaged, the Kanen Group, or any member of the Kanen Group.

 

The Agreement will terminate upon the expiration of the Standstill
Period.

 

3.       Regulation
FD. The Kanen Group hereby confirms that it is aware and that the Kanen Affiliates have been advised that the United States
securities laws prohibit any person who has material non-public information about a company from purchasing or selling securities
of such company. The Kanen Group acknowledges that the provisions of SEC Regulation FD requires the public announcement of previously
non-public material information if that information is disclosed to anyone who has not agreed to maintain the confidentiality of
that information. The Kanen Group agrees to take no action that would require the Company to make a public announcement pursuant
to the requirements of Regulation FD.

 

4.       Background
Checks. The Company’s obligation under Section 1 is conditioned on the Board’s Nominating and Governance Committee’s
completion, to its reasonable satisfaction with the results, of its review of the Nominees, including a satisfactory background
check.

 

     

    	EXHIBIT 10.1

    

 

5.        Representations
and Covenants of the Kanen Group. The Kanen Group, jointly and severally, represent and warrant to the Company as follows:
(i) each member of the Kanen Group that is an entity is duly organized, validly existing and in good standing under the laws of
its jurisdiction of organization, (ii) each member of the Kanen Group has the requisite power and authority to execute, deliver
and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby; (iii) this Agreement
has been duly and validly authorized, executed and delivered by each member of the Kanen Group, constitutes a valid and binding
obligation and agreement of each member of the Kanen Group and is enforceable against each member of the Kanen Group in accordance
with its terms; (iv) the Kanen Group, together with the Kanen Affiliates, beneficially own, directly or indirectly, an aggregate
of 4,855,194 shares of Common Stock and such shares of Common Stock constitute all of the Common Stock beneficially owned by the
Kanen Group and the Kanen Affiliates or in which the Kanen Group or the Kanen Affiliates have any interest or right to acquire,
whether through derivative securities, voting agreements or otherwise; (v) Kanen and its Affiliates shall inform any party with
shared voting or dispositive power over such securities of the terms of this Agreement; and (vi) as of the date of this Agreement,
Kanen Wealth Management and its Affiliates beneficially own less than 20% of the outstanding Common Stock.

 

6.       Public
Announcements. The parties shall make the following public announcements and/or filings with the SEC:

 

(a)       The
Company shall file promptly with the SEC a Current Report on Form 8-K (the “Form 8-K”) reporting entry into
this Agreement and appending or incorporating by reference this Agreement as an exhibit thereto.

 

(b)       The
Kanen Group shall promptly, but in no case prior to the date of the filing of the Form 8-K by the Company pursuant to Section 6(a)
hereof, prepare and file an amendment to Schedule 13D with respect to the Company reporting the beneficial ownership reflected
in this Agreement and entry into this Agreement and amending the applicable items to conform to the obligations hereunder.

  

(c)        None
of the Kanen Group or the Kanen Affiliates shall (i) issue a press release in connection with this Agreement or the actions contemplated
hereby or (ii) except as contemplated by this Section 6, otherwise make any public statement, disclosure or announcement with respect
to this Agreement or the actions contemplated hereby, other than as mutually agreed to by the Company and the Kanen Group.

 

7.           Miscellaneous.
The parties agree that irreparable damage could occur in the event any of the provisions of this Agreement were not performed in
accordance with the terms hereof and that such damage may not be adequately compensable in monetary damages. Accordingly, the parties
hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement exclusively in the federal or state courts in the City of New York, in addition to any other
remedies at law or in equity, and each party agrees it will not take any action, directly or indirectly, in opposition to another
party seeking relief. Each of the parties hereto agrees to waive any bonding requirement under any applicable law, in the case
any other party seeks to enforce the terms by way of equitable relief. Furthermore, each of the parties hereto (a) consents to
submit itself to the personal jurisdiction of such federal or state courts in the City of New York in the event any dispute arises
out of this Agreement or the transactions contemplated by this Agreement, (b) agrees that it shall not attempt to deny or defeat
such personal jurisdiction by motion or other request for leave from any such court, (c) agrees that it shall not bring any action
relating to this Agreement or the transactions contemplated by this Agreement in any court other than such federal or state courts
in the City of New York. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS, INCLUDING VALIDITY, INTERPRETATION AND EFFECT, BY THE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE WITHOUT GIVING EFFECT
TO ANY CONFLICT OR CHOICE OF LAW PRINCIPLES THAT MAY RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

     

    	EXHIBIT 10.1

    

 

8.           Expenses.
The Company will reimburse the Kanen Group for its reasonable, documented legal expenses in an amount up to $2500 incurred in connection
with the negotiation and execution of this Agreement. In the event that any legal action becomes necessary to enforce the Company’s
rights under this Agreement, the Company, if successful, shall be entitled, in addition to its court costs, to its reasonable attorneys’
fees, expert witness fees and legal expenses.

 

9.           Entire
Agreement; Amendment. This Agreement contain the entire agreement and understanding of the parties with respect to the subject
matter hereof and supersede any and all prior and contemporaneous agreements, memoranda, arrangements and understandings, both
written and oral, between the parties, or any of them, with respect to the subject matter hereof. This Agreement may be amended
only by an agreement in writing executed by the parties hereto, and no waiver of compliance with any provision or condition of
this Agreement and no consent provided for in this Agreement shall be effective unless evidenced by a written instrument executed
by the party against whom such waiver or consent is to be effective. No failure or delay by a party in exercising any right, power
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or
further exercise thereof or the exercise of any right, power or privilege hereunder.

 

10.           Notices.
All notices, consents, requests, instructions, approvals and other communications provided for herein and all legal process in
regard hereto shall be in writing and shall be deemed validly given, made or served, if (a) delivered in person or sent by overnight
courier, when actually received during normal business hours at the address specified in this subsection, or (b) if given by e-mail,
when such e-mail is transmitted to the e-mail address set forth below and the appropriate confirmation is received:

 

	 	if to the Company:	The ONE Group Hospitality, Inc.
	 	411 West 14th Street, 2nd Floor

	 	New York, New York 10014
	 	Attention: Chief Executive Officer

 

	 	
        

        With a copy to the General Counsel of The ONE Group Hospitality,
        Inc. at the same address

 

	 	if to the Kanen Group:	
        KWM | Philotimo

        5850 Coral Ridge Drive

        Suite 309

        Coral Springs, FL 33076

        Attention: David Kanen

         

        Olshan Frome Wolosky LLP

        1325 Avenue of the Americas

        New York, NY 10019

        Fax No.: (212) 451-2222

        E-mail: afreedman@olshanlaw.com

        Attention: Andrew Freedman, Esq.

	 	 

 

     

    	EXHIBIT 10.1

    

 

11.           Severability.
If at any time subsequent to the date hereof, any provision of this Agreement shall be held by any court of competent jurisdiction
to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of
such provision shall have no effect upon the legality or enforceability of any other provision of this Agreement.

 

12.           Counterparts.
This Agreement may be executed in two or more counterparts either manually or by electronic or digital signature (including by
facsimile or electronic mail transmission), each of which shall be deemed to be an original and all of which together shall constitute
a single binding agreement on the parties, notwithstanding that not all parties are signatories to the same counterpart.

 

13.           No
Third Party Beneficiaries; Assignment. This Agreement is solely for the benefit of the parties hereto and is not binding upon
or enforceable by any other persons. No party to this Agreement may assign its rights or delegate its obligations under this Agreement,
whether by operation of law or otherwise, and any assignment in contravention hereof shall be null and void. Nothing in this Agreement,
whether express or implied, is intended to or shall confer any rights, benefits or remedies under or by reason of this Agreement
on any persons other than the parties hereto, nor is anything in this Agreement intended to relieve or discharge the obligation
or liability of any third persons to any party.

 

14.           Interpretation
and Construction. When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement,
unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” and “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof,
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision of this Agreement. The word “will” shall be construed to have the same
meaning as the word “shall.” The words “dates hereof” will refer to the date of this Agreement. The word
“or” is not exclusive. The definitions contained in this Agreement are applicable to the singular as well as the plural
forms of such terms. Any agreement, instrument, law, rule or statute defined or referred to herein means, unless otherwise indicated,
such agreement, instrument, law, rule or statute as from time to time amended, modified or supplemented. Each of the parties hereto
acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution
of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party cooperated and participated
in the drafting and preparation of this Agreement and the documents referred to herein, and any and all drafts relating thereto
exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by
reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of
any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived
by each of the parties hereto, and any controversy over interpretations of this Agreement shall be decided without regards to events
of drafting or preparation.

 

     

    	EXHIBIT 10.1

    

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first set forth above.

 

	 	Very truly yours,
	 	 
	 	 
	 	THE ONE GROUP HOSPITALITY, INC.
	 	 
	 	 
	 	    /s/ Linda Siluk
	 	By:        Linda Siluk
	 	Its:         Interim Chief Financial Officer

 

 

AGREED AND ACCEPTED BY:

 

	By:	/s/ David Kanen                                      

David Kanen

 

 

 

KANEN
WEALTH MANAGEMENT LLC

 

		By:	/s/ David Kanen                                       

Name: David Kanen

Title: President

 

 

 

[Signature page to letter.]EX-10.1

 Exhibit 10.1 

SEA LIMITED 
 AMENDED
AND RESTATED SHARE INCENTIVE PLAN 
 PREFACE 

This Plan contains separate equity programs: (1) the option and share appreciation rights grant program set forth in Section 5
under which Eligible Persons (as defined in Section 3) may, at the discretion of the Administrator, be granted Options and/or SARs, (2) the share award program set forth in Section 6 under which Eligible Persons may, at the discretion
of the Administrator, be awarded restricted or unrestricted Ordinary Shares, and (3) the RSU award program set forth in Section 7 under which Eligible Persons may, at the discretion of the Administrator, be awarded an RSU to be settled in
Ordinary Shares or cash per the terms set forth herein. Section 2 of this Plan contains the general rules regarding the administration of this Plan. Section 3 sets forth the requirements for eligibility to receive an Award grant under this
Plan. Section 4 describes the authorized shares of the Company that may be subject to Awards granted under this Plan. Section 8 contains other provisions applicable to all Awards granted under this Plan. Section 9 provides definitions
for certain capitalized terms used in this Plan and not otherwise defined herein. 
  

	1.	PURPOSE OF THE PLAN. 

 The purpose of this Plan is to promote the success of the Company
and the interests of its shareholders by providing a means through which the Company may grant equity-based incentives to attract, motivate, retain and reward certain officers, employees, directors and other eligible persons and to further link the
interests of Award recipients with those of the Company’s shareholders generally. 
  

	2.    ADMINISTRATION.	

 2.1    Administrator. This Plan shall be administered
by and all Awards under this Plan shall be authorized by the Administrator. The “Administrator” means the Board, one or more committees appointed by the Board (such as the compensation committee of the Board), or one or more persons
designated by such committee or committees to administer all or certain aspects of this Plan. Any such committee appointed by the Board shall be comprised solely of one or more directors or such number of directors as may be required under
applicable law. The Board or a committee comprised solely of directors may also delegate, to the extent permitted by the Companies Law of the Cayman Islands and any other applicable law, to one or more officers of the Company, its powers under this
Plan. The Board may also delegate different levels of authority to different committees with administrative and grant authority under this Plan. Unless otherwise provided in the Memorandum and Articles of Association of the Company or the applicable
charter of any Administrator: (a) a majority of the members of the acting Administrator shall constitute a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of
the members of the Administrator shall constitute action by the acting Administrator. 

 2.2    Plan Awards; Interpretation; Powers of
Administrator. Subject to the express provisions of this Plan, the Administrator is authorized and empowered to do all things necessary or desirable in connection with the authorization of Awards and the administration of this Plan (in the
case of a committee or delegation to one or more officers, within the authority delegated to that committee or person(s)), including, without limitation, the authority to: 
  

	 	(a)	determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive Awards; 

 

	 	(b)	grant Awards to Eligible Persons, determine the type, price and number of securities to be offered or awarded to any of such persons, determine the other specific terms and conditions of Awards consistent with the
express limits of this Plan, establish the installments (if any) in which such Awards will become exercisable or will vest (which may include, without limitation, performance and/or time-based schedules), the form of payment or settlement with
respect to Awards granted hereunder, whether in cash or Ordinary Shares, or determine that no delayed exercisability or vesting is required, establish any applicable performance targets, and establish the events of termination or reversion of such
Awards; 

  

	 	(c)	approve the forms of Award Agreements, which need not be identical either as to type of Award or among Participants; 

  

	 	(d)	construe and interpret this Plan and any Award Agreement or other agreements defining the rights and obligations of the Company, its Affiliates, and Participants under this Plan, make factual determinations with respect
to the administration of this Plan, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or the Awards; 

 

	 	(e)	cancel, modify, or waive the Company’s rights with respect to, or modify, discontinue, suspend, or terminate any or all outstanding Awards, subject to any required consent under Section 8.7.4;

  

	 	(f)	accelerate or extend the vesting, settlement or exercisability or extend the term of any or all outstanding Awards (within the maximum ten-year term of Awards under Sections 5.4.2
and 6.5) in such circumstances as the Administrator may deem appropriate (including, without limitation, in connection with a termination of employment or services or other events of a personal nature); 

 

	 	(g)	determine Fair Market Value for purposes of this Plan and Awards; 

  

	 	(h)	determine the duration and purposes of leaves of absence that may be granted to Participants without constituting a termination of their employment for purposes of this Plan; 

 

	 	(i)	determine whether, and the extent to which, adjustments are required pursuant to Section 8.3 hereof and authorize the termination, conversion, substitution or succession of awards upon the occurrence of an event of
the type described in Section 8.3; and 

  
 2 

	 	(j)	implement any procedures, steps, additional or different requirements as may be necessary to comply with any laws that may be applicable to this Plan, any Award or any related documents. 

2.3    Binding Determinations. Any action taken by, or inaction of, the Company, any Affiliate, the
Board or the Administrator relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the
Board nor the Administrator, nor any member thereof or person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any Award), and
all such persons shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent
permitted by law and/or under any directors and officers liability insurance coverage that may be in effect from time to time. 

2.4    Reliance on Experts. In making any determination or in taking or not taking any action under
this Plan, the Administrator may obtain and may rely upon the advice of experts, including employees of and professional advisors to the Company. No director, officer or agent of the Company or any of its Affiliates shall be liable for any such
action or determination taken or made or omitted in good faith. 
 2.5    Delegation. The
Administrator may delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company or any of its Affiliates or to third parties. 

2.6    U.S. Taxpayers. To the extent that any Eligible Person is subject to taxation in the United
States of America (“U.S.”), such Eligible Person shall be subject to the additional terms and conditions relating to Section 409A of the Internal Revenue Code (the “Code”) separately provided in an Exhibit A
(“Exhibit A”). To the extent that any Eligible Person provides services for the Company or any of its Affiliates, either of which files a U.S. tax return, such Eligible Person and any Award granted hereunder will be subject to the
additional terms and conditions relating to Section 162(m) as set forth in the separately provided Exhibit A. 
  

	3.    ELIGIBILITY.	

 Awards may be granted under this Plan only to those persons that the Administrator determines
to be Eligible Persons. An “Eligible Person” means any person who qualifies as one of the following at the time of grant of the respective Award: 
  

	 	(a)	an officer (whether or not a director) or employee of the Company or any of its Affiliates; 

  

	 	(b)	any member of the Board; or 

  
 3 

	 	(c)	any director of one of the Company’s Affiliates, or any consultant or advisor who renders or has rendered bona fide services to the Company or one of its Affiliates. 

An advisor or consultant may be selected as an Eligible Person pursuant to clause (c) above only if such person’s participation in
this Plan would not adversely affect (1) the Company’s eligibility to rely on the Rule 701 exemption from registration under the Securities Act for the offering of shares issuable under this Plan by the Company, or (2) the
Company’s compliance with any other applicable laws. 
 An Eligible Person may, but need not, be granted one or more Awards pursuant to
Section 5, Section 6, and/or one or more Awards pursuant to Section 7. An Eligible Person who has been granted an Award under this Plan may, if otherwise eligible, be granted additional Awards under this Plan if the Administrator so
determines. However, a person’s status as an Eligible Person is not a commitment that any Award will be granted to that person under this Plan. Furthermore, an Eligible Person who has been granted an Award under any sections of this Plan is not
necessarily entitled to an Award under any other section of this Plan, unless otherwise expressly determined by the Administrator. 
 Each
Award granted under this Plan must be approved by the Administrator at or prior to the grant of the Award. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

 4.1    Shares
Available. Subject to the provisions of Section 8.3.1, the shares that may be delivered under this Plan will be the Company’s authorized but unissued Ordinary Shares (and any of its Ordinary Shares held as treasury shares). The
Ordinary Shares issued and delivered may be issued and delivered for any lawful consideration. The Administrator has the sole discretion to determine the type of Ordinary Shares to be granted as Award with the rights and terms as set forth in the
Memorandum and Articles of Association. Absent such determination by the Administrator, after the Initial Public Offering, all Ordinary Shares that may be issued and delivered pursuant to the Awards under this Plan, including Voting Ordinary Shares
or Non-Voting Ordinary Shares, shall be re-designated as Class A Ordinary Shares on a
one-to-one basis. Any Ordinary Shares distributed pursuant to an Award may be represented by American depositary shares. If the number of Ordinary Shares represented by
an American depositary share is other than on a one-to-one basis, the limitations of Section 4.2 shall be adjusted to reflect the distribution of American
depositary shares in lieu of Ordinary Shares. 
 4.2    Share Limit. Subject to the provisions of
Section 8.3.1 and further subject to the share counting rules of Section 4.3, the maximum number of Class A Ordinary Shares that may be delivered pursuant to Awards granted under this Plan is (i) 83,000,000 Class A Ordinary
Shares plus (ii) an annual increase on each of the first day of year 2019, 2020, 2021 and 2022 by 5% of the total number of ordinary shares of the Company outstanding on that day immediately before such annual increase (such maximum share
number, the “Share Limit”). 

  
 4 

 4.3    Replenishment and Reissue of Unvested Awards. To
the extent that an Award is settled in cash or a form other than Ordinary Shares, the shares that would have been delivered had there been no such cash or other settlement shall not be counted against the shares available for issuance or delivery
under this Plan. No Award may be granted under this Plan unless, on the date of grant, the sum of (a) the maximum number of Ordinary Shares issuable or deliverable at any time pursuant to such Award, plus (b) the number of Ordinary Shares
that have previously been issued or delivered pursuant to Awards granted under this Plan and have not been repurchased by the Company or, if repurchased by the Company, has been cancelled (and not designated as treasury shares by the Board) in
connection with the repurchase, plus (c) the maximum number of Ordinary Shares that may be issued or delivered at any time after such date of grant pursuant to Awards that are outstanding on such date, does not exceed the Share Limit. Ordinary
Shares that are subject to or underlie Options, SARs, or RSUs granted under this Plan that expire or for any reason are canceled or terminated without having been exercised or settled (or Ordinary Shares subject to or underlying the unexercised or
unsettled (as applicable) portion of such Options, SARs, or RSUs in the case of Options or SARs that were partially exercised or settled), as well as Ordinary Shares that are subject to, underlie or issued or delivered pursuant to Share Awards made
under this Plan that are forfeited to the Company or otherwise repurchased by the Company and held as treasury shares as resolved by the Board (as adjusted pursuant to Section 8.3.1) will again, except to the extent prohibited by law or
applicable listing or regulatory requirements, be available for subsequent Award grants under this Plan. Shares that are exchanged by a Participant or withheld by the Company as full or partial payment in connection with any Award under this Plan,
as well as any shares exchanged by a Participant or withheld by the Company or one of its Affiliates to satisfy the tax withholding obligations related to any Award, shall be available for subsequent Awards under this Plan. In the case of an
exercise of a SAR or settlement of an RSU, only the number of Ordinary Shares actually issued or delivered in respect of such exercise or settlement shall be charged against this Plan’s Share Limit. 

4.4    Reservation of Shares. The Company shall at all times reserve a number of Ordinary Shares
sufficient to cover the Company’s obligations and contingent obligations to deliver shares with respect to Awards then outstanding under this Plan. The Company shall re-designate all Voting
and Non-voting Ordinary Shares into Class A Ordinary Shares on a one-to-one basis immediately prior to the closing of the
Initial Public Offering, whether such Ordinary Shares are reserved for the Company’s outstanding Awards or grant of future Awards. 

5.    OPTION AND SAR GRANT PROGRAM. 

5.1    Option and SAR Grants in General. 

 

	 	5.1.1	Each Option or SAR shall be evidenced by an Award Agreement in the form approved by the Administrator. The Award Agreement evidencing an Option or SAR shall contain the terms established by the Administrator for
that Award, as well as any other terms, provisions, or restrictions that the Administrator may impose on the Option or SAR or any Ordinary Shares subject to the Option or SAR; in each case subject to the applicable provisions and limitations of this
Section 5 and the other applicable provisions and limitations of this Plan. The Administrator may require that the recipient of an Option or SAR promptly execute and return to the Company his or her Award Agreement evidencing the Award. In
addition, the Administrator may require that the spouse of any married recipient of an Option or SAR also promptly execute and return to the Company the Award Agreement evidencing the Award granted to the recipient or such other spousal consent form
that the Administrator may require in connection with the grant of the Award. 

  
 5 

	 	5.1.2	Ordinary Share Status. The Administrator will designate an Option granted under this Plan as exercisable for either “Voting Ordinary Shares” or
“Non-voting Ordinary Shares”, and such designation shall be set forth in the applicable Award Agreement. 

5.2    Incentive Stock Option Status. The Administrator will designate each Option granted under this
Plan to a U.S. resident as either an Incentive Stock Option or a Nonqualified Option, and such designation shall be set forth in the applicable Award Agreement. Any Option granted under this Plan to a U.S. resident that is not expressly
designated in the applicable Award Agreement as an Incentive Stock Option will be deemed to be designated a Nonqualified Option under this Plan and not an “incentive stock option” within the meaning of Section 422 of the Code.
Incentive Stock Options shall be subject to the provisions of Section 5.5 in addition to the provisions of this Plan applicable to Options generally. The Administrator may designate any Option granted under this Plan to a non-U.S. resident in accordance with the rules and regulations applicable to options in the jurisdiction in which such person is a resident. 
  

	 	5.3	Option or SAR Price. 

 5.3.1    Option
Pricing Limits. Subject to the following provisions of this Section 5.3.1, the Administrator will determine the purchase price per share of the Ordinary Shares covered by each Option (the “exercise price” of the Option) at the
time of the grant of the Option, which exercise price will be set forth in the applicable Award Agreement. In no case will the exercise price of an Option be less than the greatest of: 

 

	 	(a)	the par value of an Ordinary Share; 

  

	 	(b)	in the case of an Incentive Stock Option to a US resident and subject to clause (c) below, 100% of the Fair Market Value of an Ordinary Share on the date of grant; or  

 

	 	(c)	in the case of an Incentive Stock Option to a US resident granted to a Participant described in Section 5.5.4, 110% of the Fair Market Value of an Ordinary Share on the date of grant. 

5.3.2    Payment Provisions. The Company will not be obligated to deliver certificates for the Ordinary
Shares to be purchased upon the exercise of an Option unless and until it receives full payment of the exercise price therefor, all related withholding obligations under Section 8.6 have been satisfied, and all other conditions to the exercise
of the Option set forth herein or in the Award Agreement have been satisfied. The purchase price of any Ordinary Shares purchased upon the exercise of an Option must be paid in full at the time of each purchase in such lawful consideration as may be
permitted or required by the Administrator, which may include, without limitation, one or a combination of the following methods: 
  

	 	(a)	cash, check payable to the order of the Company, or electronic funds transfer; 

  
 6 

	 	(b)	notice and third party payment in such manner as may be authorized by the Administrator; 

  

	 	(c)	the delivery of previously owned Ordinary Shares; 

  

	 	(d)	by a reduction in the number of Ordinary Shares otherwise deliverable pursuant to the Award; 

  

	 	(e)	subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise”; or 

  

	 	(f)	if authorized by the Administrator or specified in the applicable Award Agreement, by a promissory note of the Participant consistent with the requirements of Section 5.3.3. 

In no event shall any shares newly-issued by the Company be issued for less than the minimum lawful consideration for such
shares or for consideration other than consideration permitted by applicable law. Ordinary Shares used to satisfy the exercise price of an Option (whether previously-owned shares or shares otherwise deliverable pursuant to the terms of the Option)
shall be valued at their Fair Market Value on the date of exercise. Unless otherwise expressly provided in the applicable Award Agreement, the Administrator may eliminate or limit a Participant’s ability to pay the purchase or exercise price of
any Award by any method other than cash payment to the Company. The Administrator may take all actions necessary to alter the method of Option exercise and the exchange and transmittal of proceeds with respect to Participants resident in the PRC not
having permanent residence in a country other than the PRC in order to comply with applicable PRC foreign exchange and tax regulations and any other applicable PRC laws and regulations. 

5.3.3    Acceptance of Notes to Finance Exercise. The Company may, with the Administrator’s approval in
each specific case, accept one or more promissory notes from any Eligible Person in connection with the exercise of any Option; provided that any such note shall be subject to the following terms and conditions: 

 

	 	(a)	The principal of the note shall not exceed the amount required to be paid to the Company upon the exercise, purchase or acquisition of one or more Awards under this Plan and the note shall be delivered directly to the
Company in consideration of such exercise, purchase or acquisition. 

  

	 	(b)	The initial term of the note shall be determined by the Administrator; provided that the term of the note, including extensions, shall not exceed a period of five years. 

  
 7 

	 	(c)	The note shall provide for full recourse to the Participant and shall bear interest at a rate determined by the Administrator, but not less than the interest rate necessary to avoid the imputation of interest under
applicable tax law, rules or regulations, and to avoid any adverse accounting consequences in connection with the exercise, purchase or acquisition. 

  

	 	(d)	If the employment or services of the Participant by or to the Company and its Affiliates terminates, the unpaid principal balance of the note shall become due and payable on the 30th business day after such termination;
provided, however, that if a sale of the shares acquired on exercise of the Option would cause such Participant to incur liability under Section 16(b) of the Exchange Act, the unpaid balance shall become due and payable on the 10th business day
after the first day on which a sale of such shares could have been made without incurring such liability assuming for these purposes that there are no other transactions (or deemed transactions) in securities of the Company by the Participant
subsequent to such termination. 

  

	 	(e)	If required by the Administrator or by applicable law, the note shall be secured by a pledge of any shares or rights financed thereby or other collateral, in compliance with applicable law. 

The terms, repayment provisions, and collateral release provisions of the note and the pledge securing the note shall conform
with all applicable rules and regulations as then in effect. 
 5.3.4    Base Price of SARs. The
Administrator will determine the base price per share of the Ordinary Shares covered by each SAR at the time of the grant of the SAR, which base price will be set forth in the applicable Award Agreement and shall conform with all applicable rules
and regulations as then in effect. 
  

	 	5.4	Vesting; Term; Exercise Procedure. 

5.4.1    Vesting. Except as provided in Section 5.8, an Option or SAR may be exercised only to the
extent that it is vested and exercisable. The Administrator will determine the vesting and/or exercisability provisions of each Option or SAR (which may be based on performance criteria, passage of time or other factors or any combination thereof),
which provisions will be set forth in the applicable Award Agreement. Unless the Administrator otherwise expressly provides, once exercisable an Option or SAR will remain exercisable until the expiration or earlier termination of the Option or SAR.

 5.4.2    Term. Each Option and SAR shall expire not more than 10 years after its date of grant. Each
Option and SAR will be subject to earlier termination as provided in or pursuant to Sections 5.6 and 8.3. 

  
 8 

 5.4.3    Exercise Procedure. Any exercisable Option or SAR will
be deemed to be exercised when (a) the applicable exercise procedures in the related Award Agreement have been satisfied (or, in the absence of any such procedures in the related Award Agreement, the Company has received written notice of such
exercise from the Participant), and (b) in the case of an Option, the Company has received any required payment made in accordance with Section 5.3 and Section 8.6, and (c) in the case of an Option or SAR, the Company has
received any written statement required pursuant to Section 8.5.1. 
 5.4.4    Fractional Shares/Minimum
Issue. Fractional share interests will be disregarded, but may be accumulated. The Administrator, however, may determine that cash, other securities, or other property will be paid or transferred in lieu of any fractional share interests. No
Option or SAR may be exercised as to fewer than 100 shares (subject to adjustment pursuant to Section 8.3.1) at one time unless the number as to which the Award is exercised is the total number at the time then subject to the vested and
exercisable portion of the Award. For U.S. residents or taxpayers, any fractional shares subject to an Award shall be rounded down to the nearest whole share. 
  

	 	5.5	Special Limitations on Grant and Terms of Incentive Stock Options. 

5.5.1    US$100,000 Limit. To the extent that the aggregate Fair Market Value of shares with respect to which
incentive stock options (within the meaning of Section 422 of the Code) first become exercisable by a U.S. resident Participant in any calendar year exceeds US$100,000, taking into account both Ordinary Shares subject to Incentive Stock Options
under this Plan and shares subject to incentive stock options under all other plans of the Company or any of its Affiliates, such options will be treated as Nonqualified Options. For this purpose, the Fair Market Value of the shares subject to
options will be determined as of the date the options were awarded. In reducing the number of options treated as incentive stock options to meet the US $100,000 limit, the most recently granted options will be reduced (recharacterized as
Nonqualified Options) first. To the extent a reduction of simultaneously granted options is necessary to meet the US$100,000 limit, the Administrator may, in the manner and to the extent permitted by law, designate which Ordinary Shares are to be
treated as shares acquired pursuant to the exercise of an incentive stock option. 
 5.5.2    Other Code
Limits. Incentive Stock Options may only be granted to US resident individuals that are employees of the Company or one of its Affiliates and satisfy the other eligibility requirements of the Code. Any Award Agreement relating to Incentive Stock
Options will contain or shall be deemed to contain such other terms and conditions as from time to time are required in order that the Option be an “incentive stock option” as that term is defined in Section 422 of the Code. 

5.5.3    ISO Notice of Sale Requirement. Any Participant who exercises an Incentive Stock Option shall give
prompt written notice to the Company of any sale or other transfer of the Ordinary Shares acquired on such exercise if the sale or other transfer occurs within (a) one year after the exercise date of the Option, or (b) two years after the
grant date of the Option. 

  
 9 

 5.5.4    Limits on 10% Holders. No Incentive Stock Option may
be granted to any person who, at the time the Incentive Stock Option is granted, is a US resident and owns (or is deemed to own under Section 424(d) of the Code) outstanding shares of the Company (or any of its Affiliates) possessing more than
10% of the total combined voting power of all classes of shares of the Company (or any of its Affiliates), unless the exercise price of such Incentive Stock Option is at least 110% of the Fair Market Value of the shares subject to the Incentive
Stock Option and the Incentive Stock Option by its terms is not exercisable more than five years after the date the Incentive Stock Option is granted. 
  

	 	5.6	Effects of Termination of Employment on Options and SARs. 

5.6.1    Dismissal for Cause. Unless otherwise provided in the applicable Award Agreement and subject to
earlier termination pursuant to or as contemplated by Section 5.4.2 or 8.3, if a Participant’s employment by or service to the Company or any of its Affiliates is terminated by such entity for Cause, the Participant’s Option or
SAR will terminate on the Participant’s Severance Date, whether or not the Option or SAR is then vested and/or exercisable. 

5.6.2    Death or Disability. Unless otherwise provided in the Award Agreement (consistent with applicable
securities laws) and subject to earlier termination pursuant to or as contemplated by Section 5.4.2 or 8.3, if a Participant’s employment by or service to the Company or any of its Affiliates terminates as a result of the
Participant’s death or Total Disability: 
  

	 	(a)	the Participant (or his or her Personal Representative or Beneficiary, in the case of the Participant’s Total Disability or death, respectively), will have until the date that is 12 months after the
Participant’s Severance Date to exercise the Participant’s Option or SAR (or portion thereof) to the extent that it was vested and exercisable on the Severance Date; 

 

	 	(b)	the Option or SAR, to the extent not vested and exercisable on the Participant’s Severance Date, shall terminate on the Severance Date; and 

 

	 	(c)	the Option or SAR, to the extent exercisable for the 12-month period following the Participant’s Severance Date and not exercised during such period, shall terminate at the
close of business on the last day of the 12-month period. 

  
 10 

 5.6.3    Other Terminations of Employment. Unless otherwise
provided in the applicable Award Agreement (consistent with applicable securities laws) and subject to earlier termination pursuant to or as contemplated by Section 5.4.2 or 7.3, if a Participant’s employment by or service to the Company
or any of its Affiliates terminates for any reason other than a termination by such entity for Cause or because of the Participant’s death or Total Disability: 
  

	 	(a)	the Participant will have until the date that is 3 months after the Participant’s Severance Date to exercise his or her Option or SAR (or portion thereof) to the extent that it was vested and exercisable on the
Severance Date; 

  

	 	(b)	the Option or SAR, to the extent not vested and exercisable on the Participant’s Severance Date, shall terminate on the Severance Date; and 

 

	 	(c)	the Option or SAR, to the extent exercisable for the 3-month period following the Participant’s Severance Date and not exercised during such period, shall
terminate at the close of business on the last day of the 3-month period. 

  

	 	5.7	Option and SAR Repricing/Cancellation and Regrant/Waiver of Restrictions. Subject to Section 4 and Section 8.7 and the specific limitations
on Options and SARs contained in this Plan, the Administrator from time to time may authorize, generally or in specific cases only, for the benefit of any Eligible Person, any adjustment in the exercise or base price, the vesting schedule, the
number of shares subject to, or the term of, an Option or SAR granted under this Plan by cancellation of an outstanding Option or SAR and a subsequent regranting of the Option or SAR, by amendment, by substitution of an outstanding Option or SAR, by
waiver or by other legally valid means. Such amendment or other action may result in, among other changes, an exercise or base price that is higher or lower than the exercise or base price of the original or prior Option or SAR, provide for a
greater or lesser number of Ordinary Shares subject to the Option or SAR, or provide for a longer or shorter vesting or exercise period. 

5.8    Early Exercise Options and SARs. The Administrator may, in its discretion, designate any
Option or SAR as an “early exercise Option” or “early exercise SAR” which, by express provision in the applicable Award Agreement, may be exercised prior to the date such Option or SAR has vested. If the Participant elects to
exercise all or a portion of an early exercise Option or SAR before it is vested, the Ordinary Shares acquired under the Option or SAR which are attributable to the unvested portion of the Option or SAR shall be Restricted Shares. The applicable
Award Agreement will specify the extent (if any) to which and the time (if ever) at which the Participant will be entitled to dividends, voting and other rights in respect of such Restricted Shares prior to vesting, and the restrictions imposed on
such shares and the conditions of release or lapse of such restrictions. Unless otherwise expressly provided in the applicable Award Agreement, such Restricted Shares shall be subject to the provisions of Sections 6.6 through 6.9, below. 

 

	6.	SHARE AWARD PROGRAM. 

 6.1    Share Awards in
General. Each Share Award shall be evidenced by an Award Agreement in the form approved by the Administrator. The Award Agreement evidencing a Share Award shall contain the terms established by the Administrator for that Share Award, as well
as any other terms, provisions, or restrictions that the Administrator may impose on the Share Award; in each case subject to the applicable provisions and limitations of this Section 6 and the other applicable provisions and limitations of
this Plan. The Administrator may require that the recipient of a Share Award promptly execute and return to the Company his or her Award Agreement evidencing the Share Award. In addition, the Administrator may require that the spouse of any married
recipient of a Share Award also promptly execute and return to the Company the Award Agreement evidencing the Share Award granted to the recipient or such other spousal consent form that the Administrator may require in connection with the grant of
the Share Award. 

  
 11 

 6.2    Types of Share Awards. The Administrator shall
designate whether a Share Award shall be a Restricted Share Award, and such designation shall be set forth in the applicable Award Agreement. Furthermore, the Administrator shall designate a Share Award for Voting Ordinary Shares or Non-voting Ordinary Shares, and such designation shall be set forth in the applicable Award Agreement. 

6.3    Purchase Price. 

6.3.1    Pricing Limits. Subject to the following provisions of this Section 6.3, the Administrator will
determine the purchase price per share of the Ordinary Shares covered by each Share Award at the time of grant of the Award. In no case will such purchase price be less than the par value of the Ordinary Shares. 

6.3.2    Payment Provisions. The Company will not be obligated to record in the Company’s register of
members, or issue certificates evidencing, Ordinary Shares awarded under this Section 6 unless and until it receives full payment of the purchase price therefor and all other conditions to the purchase, as determined by the Administrator, have
been satisfied, at which point the relevant shares shall be issued and noted in the Company’s register of members. The purchase price of any shares subject to a Share Award must be paid in full at the time of the purchase in such lawful
consideration as may be permitted or required by the Administrator, which may include, without limitation, one or a combination of the methods set forth in clauses (a) through (f) in Section 5.3.2 and/or past services rendered to the
Company or any of its Affiliates. 
 6.4    Vesting. The restrictions imposed on the Ordinary
Shares subject to a Restricted Share Award (which may be based on performance criteria, passage of time or other factors or any combination thereof) will be set forth in the applicable Award Agreement. 

6.5    Term. A Share Award shall either vest or be repurchased by the Company as provided in
Section 6.8 not more than 10 years after the date of grant. Each Share Award will be subject to earlier termination as provided in or pursuant to Sections 6.8 and 8.3. Any payment of cash or delivery of shares in payment for a Share Award may
be delayed until a future date if specifically authorized by the Administrator in writing and by the Participant. 

6.6    Share Certificates; Fractional Shares. Share certificates evidencing Restricted Shares will
bear a legend making appropriate reference to the restrictions imposed hereunder and will be held by the Company or by a third party designated by the Administrator until the restrictions on such shares have lapsed, the shares have vested in
accordance with the provisions of the Award Agreement and Section 6.4, and any related loan has been repaid. Fractional share interests will be disregarded, but may be accumulated. The Administrator, however, may determine that cash, other
securities, or other property will be paid or transferred in lieu of any fractional share interests. For U.S. residents or taxpayers, any fractional share interests shall be rounded down to the nearest whole share. 

  
 12 

 6.7    Dividend and Voting Rights. Unless otherwise
provided in the applicable Award Agreement, a Participant holding Restricted Shares of Voting Ordinary Shares will be entitled to cash dividend and voting rights for all Restricted Shares of Voting Ordinary Shares issued even though they are not
vested, but such rights will terminate immediately as to any Restricted Shares which cease to be eligible for vesting or are repurchased by the Company. Unless otherwise provided in the applicable Award Agreement, a Participant holding Restricted
Shares of Non-voting Ordinary Shares will be entitled to cash dividend for all Restricted Shares of Non-voting Ordinary Shares issued even though they are not vested,
but such Restricted Shares of Non-voting Ordinary Shares will not be entitled to any voting rights. 

6.8    Termination of Employment; Return to the Company. Unless the Administrator otherwise expressly
provides, Restricted Shares subject to an Award that remain subject to vesting conditions that have not been satisfied by the time specified in the applicable Award Agreement (which may include, without limitation, the Participant’s Severance
Date), will not vest and will be reacquired by the Company in such manner and on such terms as the Administrator provides, which terms shall include, to the extent not prohibited by law, return or repayment of the lower of (a) the Fair
Market Value of the Restricted Shares at the time of the termination, or (b) if applicable, the original purchase price of the Restricted Shares, without interest. The Award Agreement shall specify any other terms or conditions of the
repurchase if the Award fails to vest. Any other Share Award that has not been exercised as of a Participant’s Severance Date shall terminate on that date unless otherwise expressly provided by the Administrator in the applicable Award
Agreement. 
 6.9    Waiver of Restrictions. Subject to Sections 4 and 8.7 and the specific
limitations on Share Awards contained in this Plan, the Administrator from time to time may authorize, generally or in specific cases only, for the benefit of any Eligible Person, any adjustment in the vesting schedule, or the restrictions upon or
the term of, a Share Award granted under this Plan by amendment, by substitution of an outstanding Share Award, by waiver or by other legally valid means. 

7.    RSU AWARD PROGRAM 
  

	 	7.1	Each RSU shall be evidenced by an Award Agreement in the form approved by the Administrator. The Award Agreement evidencing a RSU shall contain the terms established by the Administrator for that Award, including
terms relating to the vesting and settlement of any RSU, as well as any other terms, provisions, or restrictions that the Administrator may impose on the RSU or any Ordinary Shares subject to the RSU; in each case subject to the applicable
provisions and limitations of this Section 5 and the other applicable provisions and limitations of this Plan. The Administrator may require that the recipient of an RSU promptly execute and return to the Company his or her Award Agreement
evidencing the Award. In addition, the Administrator may require that the spouse of any married recipient of an RSU also promptly execute and return to the Company the Award Agreement evidencing the Award granted to the recipient or such other
spousal consent form that the Administrator may require in connection with the grant of the Award. 

  
 13 

	 	7.2	Ordinary Share Status. The Administrator will settle an RSU granted under this Plan for either “Voting Ordinary Shares” or “Non-voting
Ordinary Shares”, and such designation shall be set forth in the applicable Award Agreement. 

  

	 	7.3	Vesting. An RSU may only be settled to the extent that it is vested. The Administrator will determine the vesting and/or settlement provisions of each RSU (which may be based on performance
criteria, passage of time or other factors or any combination thereof), which provisions will be set forth in the applicable Award Agreement. 

  

	 	7.4	Settlement. Each RSU that vests in accordance with its terms will be settled for the designated number of Ordinary Shares as provided in the Award Agreement, and in any case shall be settled not
more than 10 years after its date of grant. Each RSU will be subject to earlier termination as provided herein. 

  

	 	7.5	Fractional Shares/Minimum Issue. Fractional share interests will be disregarded, but may be accumulated. The Administrator, however, may determine that cash, other securities, or other
property will be paid or transferred in lieu of any fractional share interests. For U.S. residents or taxpayers, any fractional shares issued to a Participant shall be rounded down to the nearest whole share. 

 

	 	7.6	Termination of Employment; Forfeiture to the Company. Unless the Administrator otherwise expressly provides, RSUs subject to an Award that remain subject to vesting conditions that have not been
satisfied by the time specified in the applicable Award Agreement (which may include, without limitation, the Participant’s Severance Date), will not vest nor will they be settled. The Award Agreement shall specify any other terms or conditions
of the repurchase if the Award fails to vest. Any other RSU that has not vested as of a Participant’s Severance Date shall terminate on that date unless otherwise expressly provided by the Administrator in the applicable Award Agreement.

  

	 	7.7	Waiver of Restrictions. Subject to Sections 4 and 8.7 and the specific limitations on RSUs contained in this Plan, the Administrator from time to time may authorize, generally or in specific cases
only, for the benefit of any Eligible Person, any adjustment in the vesting schedule, or the restrictions upon or the term of, an RSU granted under this Plan by amendment, by substitution of an outstanding RSU, by waiver or by other legally valid
means. 

  

	8.	PROVISIONS APPLICABLE TO ALL AWARDS. 

  

	 	8.1	Rights of Eligible Persons, Participants and Beneficiaries. 

8.1.1    Employment Status. No Person shall have any claim or rights to be granted an Award (or additional
Awards, as the case may be) under this Plan, subject to any express contractual rights (set forth in a document other than this Plan) to the contrary. 

  
 14 

 8.1.2    No Employment/Service Contract. Nothing contained in
this Plan (or in any other documents under this Plan or related to any Award) shall confer upon any Eligible Person or Participant any right to continue in the employ or other service of the Company or any of its Affiliates, constitute any contract
or agreement of employment or other service or affect an employee’s status as an employee at will, nor shall interfere in any way with the right of the Company or any Affiliate to change such person’s compensation or other benefits, or to
terminate his or her employment or other service, with or without cause at any time. Nothing in this Section 8.1.2, or in Section 8.3 or 8.15, however, is intended to adversely affect any express independent right of such person under a
separate employment or service contract. An Award Agreement shall not constitute a contract of employment or service. 

8.1.3    Plan Not Funded. Awards payable under this Plan will be payable in Ordinary Shares or from the
general assets of the Company, and (except as to the share reservation provided in Section 4.4) no special or separate reserve, fund or deposit will be made to assure payment of such Awards. No Participant, Beneficiary or other person will have
any right, title or interest in any fund or in any specific asset (including Ordinary Shares, except as expressly provided) of the Company or any of its Affiliates by reason of any Award hereunder. Neither the provisions of this Plan (or of any
related documents), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan will create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company or any of its
Affiliates and any Participant, Beneficiary or other person. To the extent that a Participant, Beneficiary or other person acquires a right to receive payment pursuant to any Award hereunder, such right will be no greater than the right of any
unsecured general creditor of the Company. 
 8.1.4    Charter Documents. The Memorandum and Articles of
Association of the Company, as may lawfully be amended from time to time, may provide for additional restrictions and limitations with respect to the Ordinary Shares (including additional restrictions and limitations on the voting or transfer of
Ordinary Shares) or priorities, rights and preferences as to securities and interests prior in rights to the Ordinary Shares. To the extent that these restrictions and limitations are greater than those set forth in this Plan or any Award Agreement,
such restrictions and limitations shall apply to any Ordinary Shares acquired pursuant to Awards under this Plan and are incorporated herein by this reference. 
  

	 	8.2	No Transferability; Limited Exception to Transfer Restrictions. 

8.2.1    Limit on Exercise and Transfer. Unless otherwise expressly provided in (or pursuant to) this
Section 8.2, by applicable law and by the Award Agreement, as the same may be amended: 
  

	 	(a)	all Awards are non-transferable and will not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; 

 

	 	(b)	Awards will be exercised only by the Participant; and 

  
 15 

	 	(c)	amounts payable or shares issuable pursuant to an Award will be delivered only to (or for the account of), and, in the case of Ordinary Shares, registered in the name of, the Participant. 

In addition, the shares shall be subject to the restrictions set forth in the applicable Award Agreement. 

8.2.2     Further Exceptions to Limits on Transfer. The exercise and transfer restrictions in
Section 8.2.1 will not apply to: 
  

	 	(a)	transfers to the Company; 

  

	 	(b)	transfers by gift or domestic relations order to one or more “family members” (as that term is defined in SEC Rule 701 promulgated under the Securities Act) of the Participant, including transfers to a trust
in which the Participant (or other family member) has more than 50% of the beneficial interest, a foundation in which the Participant (or other family member) controls the management of assets, or an entity in which the Participant (or other family
member) owns more than 50% of the voting interest, so long as such transfer is expressly authorized by the Administrator and is in compliance with all applicable laws; 

 

	 	(c)	the designation of a Beneficiary to receive benefits if the Participant dies or, if the Participant has died, transfers to or exercises by the Participant’s Beneficiary, or, in the absence of a validly designated
Beneficiary, transfers by will or the laws of descent and distribution; or 

  

	 	(d)	if the Participant has suffered a disability, permitted transfers or exercises on behalf of the Participant by the Participant’s duly authorized legal representative. 

Notwithstanding anything else in this Section 8.2.2 to the contrary, but subject to compliance with all applicable laws,
Incentive Stock Options, RSUs and Restricted Share Awards will be subject to any and all transfer restrictions under the applicable laws and regulations to such awards or necessary to maintain the intended tax consequences of such Awards.
Notwithstanding clause (b) above but subject to compliance with all applicable laws, any contemplated transfer by gift or domestic relations order to one or more family members of a Participant as referenced in clause (b) above is subject
to the condition precedent that the transfer be approved by the Administrator in order for it to be effective. The Administrator may, in its sole discretion, withhold its approval of any such proposed transfer. 

  
 16 

	 	8.3	Adjustments; Changes in Control. 

8.3.1    Adjustments. Subject to Section 8.3.2 below, upon (or, as may be necessary to effect the
adjustment, immediately prior to) any reclassification, recapitalization, share split (including a share split in the form of a share dividend) or reverse share split; any merger, combination, consolidation, or other reorganization; any split-up, spin-off, or similar extraordinary dividend distribution in respect of the Ordinary Shares; or any exchange of Ordinary Shares or other securities of the Company, or
any similar, unusual or extraordinary corporate transaction in respect of the Ordinary Shares; then the Administrator shall equitably and proportionately adjust (1) the number and type of shares of Ordinary Shares (or other securities) that
thereafter may be made the subject of Awards (including the specific share limits, maximums and numbers of shares set forth elsewhere in this Plan), (2) the number, amount and type of Ordinary Shares (or other securities or property) subject to any
outstanding Awards, (3) the grant, purchase, exercise or base price of any outstanding Awards, and/or (4) the securities, cash or other property deliverable upon exercise or vesting of any outstanding Awards, in each case to the extent
necessary to preserve (but not increase) the level of incentives intended by this Plan and the then-outstanding Awards. 
 Unless otherwise
expressly provided in the applicable Award Agreement, upon (or, as may be necessary to effect the adjustment, immediately prior to) any event or transaction described in the preceding paragraph or a sale of all or substantially all of the business
or assets of the Company as an entirety, the Administrator shall equitably and proportionately adjust the performance standards applicable to any then-outstanding performance-based Awards to the extent necessary to preserve (but not increase) the
level of incentives by this Plan and the then-outstanding performance-based Awards. 
 It is intended that, if possible, any adjustments
contemplated by the preceding two paragraphs be made in a manner that satisfies applicable legal, tax and accounting (so as to not trigger any charge to earnings with respect to such adjustment) requirements. 

Without limiting the generality of Section 2.3, any good faith determination by the Administrator as to whether an adjustment is required
in the circumstances pursuant to this Section 8.3.1, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons. 

Unless otherwise expressly provided by the Administrator, in no event shall a conversion of one or more outstanding shares of the
Company’s preferred share (if any) or any new issuance of securities by the Company for consideration be deemed, in and of itself, to require an adjustment pursuant to this Section 8.3.1. 

8.3.2    Consequences of a Change in Control Event. Upon the occurrence of a Change in Control Event, the
Administrator may make provision for a cash payment in settlement of, or for the assumption, substitution or exchange of any or all outstanding Awards (or the cash, securities or other property deliverable to the holder(s) of any or all outstanding
Awards) based upon, to the extent relevant in the circumstances, the distribution or consideration payable to holders of the Ordinary Shares upon or in respect of such event. 

  
 17 

 The Administrator may, in its sole discretion, provide in the applicable Award Agreement or by an
amendment thereto for the accelerated vesting of one or more Awards to the extent such Awards are outstanding upon a Change in Control Event or such other events or circumstances as the Administrator may provide. 

The Administrator may adopt such valuation methodologies for outstanding Awards as it deems reasonable in the event of a cash, securities or
other property settlement. In the case of Options and SARs, but without limitation on other methodologies, the Administrator may base such settlement solely upon the excess (if any) of the amount payable upon or in respect of such event over the
exercise or base price of the Option or SAR, as applicable, to the extent of the then vested and exercisable shares subject to the Option or SAR. 

In any of the events referred to in this Section 8.3.2, the Administrator may take such action contemplated by this Section 8.3.2
prior to such event (as opposed to on the occurrence of such event) to the extent that the Administrator deems the action necessary to permit the Participant to realize the benefits intended to be conveyed with respect to the underlying shares.
Without limiting the generality of the foregoing, the Administrator may deem an acceleration to occur immediately prior to the applicable event and/or reinstate the original terms of the Award if an event giving rise to an acceleration does not
occur. 
 Notwithstanding the foregoing, any escrow, holdback, earnout or similar provisions in the definitive documents relating to such
Change in Control may apply to any payment to the holders of Options, SARs, Share Award or RSUs to the same extent and in the same manner as such provisions apply to the holders of Ordinary Shares. In addition, Participants will be required to
execute any definitive transaction documents in connection with any Change in Control at the request of the Company or its Subsidiaries or Affiliates, or any of their collective successors. 

  
 18 

 8.3.3    Early Termination of Awards. Upon the occurrence of a
Change in Control Event, each then-outstanding Award (whether or not vested and/or exercisable) shall terminate, subject to any provision that has been expressly made by the Administrator, through a plan of reorganization or otherwise, for the
survival, substitution, assumption, exchange or other continuation or settlement of such Award and provided that, in the case of Options and SARs that will not survive or be substituted for, assumed, exchanged, or otherwise continued or settled in
the Change in Control Event, the holder of such Award shall be given reasonable advance notice of the impending termination and a reasonable opportunity to exercise his or her outstanding and vested Options and SARs in accordance with their terms
before the termination of the Awards (except that in no case shall more than ten days’ notice of the impending termination be required). For purposes of this Section 8.3, an Award shall be deemed to have been “assumed” if
(without limiting other circumstances in which an Award is assumed) the Award continues after the Change in Control Event, and/or is assumed and continued by a Parent (as such term is defined in the definition of Change in Control Event) following a
Change in Control Event, and confers the right to purchase or receive, as applicable and subject to vesting and the other terms and conditions of the Award, for each Ordinary Share subject to the Award immediately prior to the Change in Control
Event, the consideration (whether cash, shares, or other securities or property) received in the Change in Control Event by the shareholders of the Company for each Ordinary Share sold or exchanged in such transaction (or the consideration received
by a majority of the shareholders participating in such transaction if the shareholders were offered a choice of consideration); provided, however, that if the consideration offered for an Ordinary Share in the transaction is not solely the ordinary
or common shares of a successor company or a Parent, the Administrator may provide for the consideration to be received upon exercise or payment of the Award, for each share subject to the Award, to be solely ordinary or common shares (as
applicable) of the successor company or a Parent equal in Fair Market Value to the per share consideration received by the shareholders participating in the Change in Control Event. 

8.3.4    Other Acceleration Rules. The Administrator may override the provisions of this Section 8.3 as
to any Award by express provision in the applicable Award Agreement and may accord any Participant a right to refuse any acceleration, whether pursuant to the Award Agreement or otherwise, in such circumstances as the Administrator may approve. 

 

	 	8.4	Termination of Employment or Services. 

8.4.1    Events Not Deemed a Termination of Employment. Unless the Administrator otherwise expressly provides
with respect to a particular Award, if a Participant’s employment by or service to the Company or an Affiliate terminates but immediately thereafter the Participant continues in the employ of or service to another Affiliate or the Company, as
applicable, the Participant shall be deemed to have not had a termination of employment or service for purposes of this Plan and the Participant’s Awards. Unless the express policy of the Company or the Administrator otherwise provides, a
Participant’s employment relationship with the Company or any of its Affiliates shall not be considered terminated solely due to any sick leave, military leave, or any other leave of absence authorized by the Company or any Affiliate or the
Administrator; provided that, unless reemployment upon the expiration of such leave is guaranteed by contract or law, such leave is for a period of not more than three months. In the case of any Participant on an approved leave of
absence, continued vesting of the Award while on leave from the employ of or service with the Company or any of its Affiliates will be suspended until the Participant returns to service, unless the Administrator otherwise provides or applicable law
otherwise requires. In no event shall an Award be exercised after the expiration of the term of the Award set forth in the Award Agreement. 

  
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 8.4.2    Effect of Change of Affiliate Status. For purposes of
this Plan and any Award, if an entity ceases to be an Affiliate, a termination of employment or service will be deemed to have occurred with respect to each Eligible Person in respect of such Affiliate who does not continue as an Eligible Person in
respect of another Affiliate that continues as such after giving effect to the transaction or other event giving rise to the change in status. 

8.4.3    Administrator Discretion. Notwithstanding the provisions of Section 5.6 or 6.8, in the event
of, or in anticipation of, a termination of employment or service with the Company or any of its Affiliates for any reason, the Administrator may accelerate the vesting and exercisability of all or a portion of the Participant’s Award, and/or,
subject to the provisions of Sections 5.4.2 and 8.3, extend the exercisability period of the Participant’s Option or SAR upon such terms as the Administrator determines and expressly sets forth in or by amendment to the Award Agreement. 

8.4.4    Termination of Consulting or Affiliate Services. If the Participant is an Eligible Person solely by
reason of clause (c) of Section 3, the Administrator shall be the sole judge of whether the Participant continues to render services to the Company or any of its Affiliates, unless a written contract or the Award Agreement otherwise
provides. If, in these circumstances, the Company or any Affiliate notifies the Participant in writing that a termination of the Participant’s services to the Company or any Affiliate has occurred for purposes of this Plan, then (unless the
contract or the Award Agreement otherwise expressly provides), the Participant’s termination of services with the Company or Affiliate for purposes of this Plan shall be the date which is 10 days after the mailing of the notice by the Company
or Affiliate or, in the case of a termination for Cause, the date of the mailing of the notice. 
  

	 	8.5	Compliance with Laws. 

 8.5.1    General.
This Plan, the granting and vesting of Awards under this Plan, and the offer, issuance and delivery of Ordinary Shares, the acceptance of promissory notes and/or the payment of money under this Plan or under Awards are subject to compliance with all
applicable laws, rules and regulations and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any person acquiring any
securities under this Plan will, if requested by the Company, provide such assurances and representations to the Company as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements.

 8.5.2    Compliance with Securities Laws. No Participant shall sell, pledge or otherwise transfer
Ordinary Shares acquired pursuant to an Award or any interest in such shares except in accordance with the express terms of this Plan and the applicable Award Agreement. Any attempted transfer in violation of this Section 8.5 shall be void and
of no effect. Without in any way limiting the provisions set forth above, no Participant shall make any disposition of all or any portion of Ordinary Shares acquired or to be acquired pursuant to an Award, except in compliance with all applicable
securities laws and unless and until: 
  

	 	(a)	there is then in effect a registration statement under the Securities Act or other applicable securities laws in other jurisdictions covering such proposed disposition and such disposition is made in accordance with
such registration statement; 

  
 20 

	 	(b)	such disposition is made in accordance with Rule 144 under the Securities Act or other comparable securities regulations in other jurisdictions; or 

 

	 	(c)	such Participant notifies the Company of the proposed disposition and furnishes the Company with a statement of the circumstances surrounding the proposed disposition, and, if requested by the Company, furnishes to the
Company an opinion of counsel acceptable to the Company’s counsel, that such disposition will not require registration under the Securities Act or other applicable securities laws and will be in compliance with all applicable securities laws.

 Notwithstanding anything else herein to the contrary, neither the Company or any Affiliate has any
obligation to register the Ordinary Shares or file any registration statement under securities laws. 

8.5.3    Share Legends. All certificates evidencing Ordinary Shares issued or delivered under this Plan shall
bear the following legends where appropriate and/or any other appropriate or required legends under applicable laws: 
 “OWNERSHIP OF
THIS CERTIFICATE, THE SHARES EVIDENCED BY THIS CERTIFICATE AND ANY INTEREST THEREIN ARE SUBJECT TO SUBSTANTIAL RESTRICTIONS ON TRANSFER UNDER APPLICABLE LAW AND UNDER AGREEMENTS WITH THE COMPANY, INCLUDING RESTRICTIONS ON SALE, ASSIGNMENT, TRANSFER,
PLEDGE OR OTHER DISPOSITION.” 
 “THE SHARES ARE SUBJECT TO THE COMPANY’S RIGHT OF FIRST REFUSAL UNDER THE COMPANY’S
SHARE INCENTIVE PLAN AND AGREEMENTS WITH THE COMPANY THEREUNDER.” 
 “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (“ACT”) OR ANY APPLICABLE SECURITIES, NOR HAVE THEY BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES WILL BE PERMITTED UNLESS
A REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE SECURITIES LAWS IS IN EFFECT AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT OR OTHER COMPARABLE SECURITIES REGULATIONS, OR IN THE OPINION OF COUNSEL TO THE
COMPANY, REGISTRATION UNDER THE ACT IS UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH ANY OTHER APPLICABLE SECURITIES LAWS.” 

  
 21 

 8.5.4    Confidential Information. Any financial or other
information relating to the Company obtained by Participants in connection with or as a result of this Plan or their Awards shall be treated as confidential. 
  

	 	8.6	Tax Withholding. 

 8.6.1    Tax
Withholding. Upon any exercise, vesting, or payment of any Award or upon the disposition of Ordinary Shares acquired pursuant to the exercise of an Incentive Stock Option prior to satisfaction of the holding period requirements of
Section 422 of the Code, the Company or any of its Affiliates shall have the right at its option to: 
  

	 	(a)	require the Participant (or the Participant’s Personal Representative or Beneficiary, as the case may be) to pay or provide for payment of at least the minimum amount of any taxes which the Company or Affiliate may
be required to withhold with respect to such Award event or payment; 

  

	 	(b)	deduct from any amount otherwise payable (in respect of an Award or otherwise) in cash to the Participant (or the Participant’s Personal Representative or Beneficiary, as the case may be) the minimum amount of any
taxes which the Company or Affiliate may be required to withhold with respect to such Award event or payment; or 

  

	 	(c)	reduce the number of Ordinary Shares to be delivered by (or otherwise reacquire shares held by the Participant) the appropriate number of Ordinary Shares, valued at their then Fair Market Value, to satisfy the minimum
withholding obligation. 

 In any case where a tax is required to be withheld (including taxes in Singapore and
the PRC where applicable) in connection with the delivery of Ordinary Shares under this Plan (including the sale of Ordinary Shares as may be required to comply with foreign exchange rules in the PRC for Participants resident in the PRC), the
Administrator may in its sole discretion (subject to Section 8.5) grant (either at the time of the Award or thereafter) to the Participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may
establish, to have the Company reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their Fair Market Value or at the sales price in accordance with authorized
procedures for cashless exercises, necessary to satisfy the minimum applicable withholding obligation on exercise, vesting or payment. In no event shall the shares withheld exceed the minimum whole number of shares required for tax withholding under
applicable law. The Company may, with the Administrator’s approval, accept one or more promissory notes from any Eligible Person in connection with taxes required to be withheld upon the exercise, vesting or payment of any Award under this
Plan; provided that any such note shall be subject to terms and conditions established by the Administrator and the requirements of applicable law. 

  
 22 

 8.6.2    Tax Loans. If so provided in the Award Agreement or
otherwise authorized by the Administrator, the Company may, to the extent permitted by law, authorize a loan to an Eligible Person in the amount of any taxes that the Company or any of its Affiliates may be required to withhold with respect to
Ordinary Shares received (or disposed of, as the case may be) pursuant to a transaction described in Section 8.6.1. Such a loan will be for a term and at a rate of interest and pursuant to such other terms and conditions as the Company may
establish, subject to compliance with applicable law. Such a loan need not otherwise comply with the provisions of Section 5.3.3. 
  

	 	8.7	Plan and Award Amendments, Termination and Suspension. 

8.7.1    Board Authorization. The Board may, at any time, terminate or, from time to time, amend, modify or
suspend this Plan, in whole or in part. No Awards may be granted during any period that the Board suspends this Plan. 

8.7.2    Shareholder Approval. To the extent then required by applicable law or any applicable listing agency
or required under applicable tax law, rules or regulations, to preserve the intended tax consequences of this Plan, or deemed necessary or advisable by the Board, any amendment to this Plan shall be subject to shareholder approval. 

8.7.3    Amendments to Awards. Without limiting any other express authority of the Administrator under (but
subject to) the express limits of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on Awards to Participants that the Administrator in the prior exercise of its discretion has imposed, without the
consent of a Participant, and (subject to the requirements of Sections 2.2 and 7.7.4) may make other changes to the terms and conditions of Awards. 

8.7.4    Limitations on Amendments to Plan and Awards. No amendment, suspension or termination of this Plan
or amendment of any outstanding Award shall, without written consent of the Participant, affect in any manner materially adverse to the Participant any rights or benefits of the Participant or obligations of the Company under any Award granted under
this Plan prior to the effective date of such change. Changes, settlements and other actions contemplated by Section 8.3 shall not be deemed to constitute changes or amendments for purposes of this Section 8.7. 

8.8    Privileges of Share Ownership. Except as otherwise expressly authorized by the Administrator,
a Participant will not be entitled to any privilege of share ownership as to any Ordinary Shares not actually delivered to and held of record by the Participant. Except as expressly required by Section 8.3.1, no adjustment will be made for
dividends or other rights as a shareholder for which a record date is prior to such date of delivery. 

  
 23 

 8.9    Share-Based Awards in Substitution for Awards Granted by
Other Company. Awards may be granted to Eligible Persons in substitution for or in connection with an assumption of employee share options, share appreciation rights, restricted shares or other share-based awards granted by other entities to
persons who are or who will become Eligible Persons in respect of the Company or one of its Affiliates, in connection with a distribution, merger, amalgamation or other reorganization by or with the granting entity or an affiliated entity, or the
acquisition by the Company or one of its Affiliates, directly or indirectly, of all or a substantial part of the shares or assets of the employing entity. The Awards so granted need not comply with other specific terms of this Plan, provided the
Awards reflect only adjustments giving effect to the assumption or substitution consistent with the conversion applicable to the Ordinary Shares in the transaction and any change in the issuer of the security. Unless otherwise expressly determined
by the Administrator, any shares that are delivered and any Awards that are granted by, or become obligations of, the Company, as a result of the assumption by the Company of, or in substitution for, outstanding awards previously granted by an
acquired company (or previously granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Company or one of its Affiliates in connection with a business or asset acquisition or
similar transaction) shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan. 

8.10    Effective Date of the Plan. This Plan is effective upon the closing of the Initial Public
Offering. All Awards granted or in effect prior to the Effective Date shall be governed by the terms of this Plan as amended and restated. 

8.11    Term of the Plan. Unless earlier terminated by the Board, this Plan will terminate at the
close of business on the day before the 10th anniversary of the Effective Date. After the termination of this Plan either upon such stated expiration date or its earlier termination by the Board,
no additional Awards may be granted under this Plan, but previously granted Awards (and the authority of the Administrator with respect thereto, including the authority to amend such Awards) shall remain outstanding in accordance with their
applicable terms and conditions and the terms and conditions of this Plan. 
  

	 	8.12	Governing Law/Severability. 

8.12.1    Choice of Law. This Plan, the Awards, all documents evidencing Awards and all other related
documents will be governed by, and construed in accordance with, the laws of the Cayman Islands. 

8.12.2    Severability. If it is determined that any provision of this Plan or an Award Agreement is invalid
and unenforceable, the remaining provisions of this Plan and/or the Award Agreement, as applicable, will continue in effect provided that the essential economic terms of this Plan and the Award can still be enforced. 

8.13    Captions. Captions and headings are given to the sections and subsections of this Plan solely
as a convenience to facilitate reference. Such headings will not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof. 

8.14    Non-Exclusivity of Plan. Nothing in this Plan will
limit or be deemed to limit the authority of the Board or the Administrator to grant awards or authorize any other compensation, with or without reference to the Ordinary Shares, under any other plan or authority. 

  
 24 

 8.15    No Restriction on Corporate Powers. The
existence of this Plan, the Award Agreements, and the Awards granted hereunder, shall not limit, affect or restrict in any way the right or power of the Board or the shareholders of the Company to make or authorize: (a) any adjustment,
recapitalization, reorganization or other change in the Company’s or any Affiliate’s capital structure or its business; (b) any merger, amalgamation, consolidation or change in the ownership of the Company or any Affiliate;
(c) any issue of bonds, debentures, capital, preferred or prior preference shares ahead of or affecting the Company’s authorized shares or the rights thereof; (d) any dissolution or liquidation of the Company or any Affiliate;
(e) any sale or transfer of all or any part of the Company or any Affiliate’s assets or business; or (f) any other corporate act or proceeding by the Company or any Affiliate. No Participant, Beneficiary or any other person shall have
any claim under any Award or Award Agreement against any member of the Board or the Administrator, or the Company or any employees, officers or agents of the Company or any Affiliate, as a result of any such action. 

8.16    Other Company Compensation or Benefit Programs. Payments and other benefits received by a
Participant under an Award made pursuant to this Plan shall not be deemed a part of a Participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided
by the Company or any Affiliate, except where the Administrator or the Board expressly otherwise provides or authorizes in writing. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants,
awards or commitments under any other plans or arrangements of the Company or any Affiliate. 
  

	9.    DEFINITIONS.	

 “Administrator” has the meaning given to such term in Section 2.1. 

“Affiliate” means (a) any corporation (other than the Company) in an unbroken chain of corporations ending with the
Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such
chain, or (b) any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in the unbroken chain owns
stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

“Award” means an award of any Option, SAR, Share Award, or RSU, or any combination thereof, whether alternative or
cumulative, authorized by and granted under this Plan. 
 “Award Agreement” means any writing, approved by the
Administrator, setting forth the terms of an Award that has been duly authorized and approved. 
 “Award Date” means the
date upon which the Administrator took the action granting an Award or such later date as the Administrator designates as the Award Date at the time of the grant of the Award. 

  
 25 

 “Beneficiary” means the person, persons, trust or trusts designated by a
Participant, or, in the absence of a designation, entitled by will or the laws of descent and distribution, to receive the benefits specified in the Award Agreement and under this Plan if the Participant dies, and means the Participant’s
executor or administrator if no other Beneficiary is designated and able to act under the circumstances. 
 “Board” means
the Board of Directors of the Company. 
 “Cause” with respect to a Participant means (unless otherwise expressly provided
in the applicable Award Agreement, or another applicable contract with the Participant that defines such term for purposes of determining the effect that a “for cause” termination has on the Participant’s Awards) a termination of
employment or service based upon a finding by the Company or any of its Affiliates, acting in good faith and based on its reasonable belief at the time, that the Participant: 
  

	 	(a)	has been negligent in the discharge of his or her duties to the Company or any Affiliate, has refused to perform stated or assigned duties or is incompetent in or (other than by reason of a disability or analogous
condition) incapable of performing those duties; 

  

	 	(b)	has been dishonest or committed or engaged in an act of theft, embezzlement or fraud, a breach of confidentiality, an unauthorized disclosure or use of inside information, customer lists, trade secrets or other
confidential information; 

  

	 	(c)	has breached a fiduciary duty, or willfully and materially violated any other duty, law, rule, regulation or policy of the Company or any of its Affiliates; or has been convicted of, or pled guilty or nolo contendere
to, a felony or misdemeanor (other than minor traffic violations or similar offenses); 

  

	 	(d)	has materially breached any of the provisions of any agreement with the Company or any of its Affiliates; 

  

	 	(e)	has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation, business or assets of, the Company or any of its Affiliates; 

 

	 	(f)	has improperly induced a vendor or customer to break or terminate any contract with the Company or any of its Affiliates or induced a principal for whom the Company or any Affiliate acts as agent to terminate such
agency relationship; or 

  

	 	(g)	has material breached any proprietary information and invention assignment agreement entered into with the Company or any Affiliate. 

A termination for Cause shall be deemed to occur (subject to reinstatement upon a contrary final determination by the Administrator) on the
date on which the Company or any Affiliate first delivers written notice to the Participant of a finding of termination for Cause. 

  
 26 

 “Change in Control Event” means any of the following: 

 

	 	(a)	Approval by shareholders of the Company (or, if no shareholder approval is required, by the Board alone) of the complete dissolution or liquidation of the Company, other than in the context of a business combination
that does not constitute a Change in Control Event under paragraph (c) below; 

  

	 	(b)	the acquisition of the Company or of more than 50% of all of the outstanding Shares of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any
reorganization, merger, amalgamation, scheme of arrangement, consolidation, tender offer, or Share purchase, but excluding any merger effected exclusively for the purpose of changing the domicile of the Company or any bona fide equity financing
transaction primarily for fund raising purposes) unless the Company’s shareholders of record as constituted immediately prior to such transaction or series of related transactions will, immediately after such transaction or series of related
transactions (by virtue of securities issued as consideration for the Company’s acquisition or sale or otherwise) hold a majority of the voting power of the surviving or acquiring entity (or its parent); 

 

	 	(c)	a sale or transfer of all or substantially all of the assets of the Company (or any series of related transactions resulting in such sale or transfer of all or substantially all of the assets of the Company);

 provided, however, that a transaction shall not constitute a Change in Control Event if it is in connection with the
underwritten public offering of the Company’s securities. 
 “Code” means the U.S. Internal Revenue Code of 1986, as
amended from time to time. 
 “Company” means Sea Limited, an exempted company organized under the Companies Law of the
Cayman Islands, and its successors. 
 “Class A Ordinary Shares” means Class A ordinary shares of
the Company, each par value US$0.0005 per share. 
 “Effective Date” means the closing date of the Initial Public Offering.

 “Eligible Person” has the meaning given to such term in Section 3 of this Plan. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to time. 

  
 27 

 “Fair Market Value,” for purposes of this Plan and unless otherwise determined
or provided by the Administrator in the circumstances, means as follows: 
  

	 	(a)	If the Ordinary Shares are listed or admitted to trade on the New York Stock Exchange or other national or international securities exchange (the “Exchange”), the Fair Market Value shall equal the
closing price of an Ordinary Share as reported on the composite tape for securities on the Exchange for the date in question, or, if no sales of Ordinary Shares were made on the Exchange on that date, the closing price of an Ordinary Share as
reported on said composite tape for the next preceding day on which sales of Ordinary Shares were made on the Exchange. The Administrator may, however, provide with respect to one or more Awards that the Fair Market Value shall equal the closing
price of an Ordinary Share as reported on the composite tape for securities listed on the Exchange on the last trading day preceding the date in question or the average of the high and low trading prices of an Ordinary Share as reported on the
composite tape for securities listed on the Exchange for the date in question or the most recent trading day. 

  

	 	(b)	If the Ordinary Shares are not listed or admitted to trade on a national securities exchange, the Fair Market Value shall be the value as reasonably determined by the Administrator for purposes of the Award in the
circumstances (with the expectation being that, in the case of a valuation as of a transaction in which Ordinary Shares or similar securities are being sold or exchanged, such determination by the Administrator will be principally based on the value
of the consideration received by the holders of the securities sold or exchanged in such transaction). 

 The Administrator
also may adopt a different methodology for determining Fair Market Value with respect to one or more Awards if a different methodology is necessary or advisable to secure any intended favorable tax, legal or other treatment for the particular
Award(s) (for example, and without limitation, the Administrator may provide that Fair Market Value for purposes of one or more Awards will be based on an average of closing prices (or the average of high and low daily trading prices) for a
specified period preceding the relevant date). 
 Any determination as to Fair Market Value made pursuant to this Plan shall be made without
regard to any restriction other than a restriction which, by its terms, will never lapse, and shall be conclusive and binding on all persons with respect to Awards granted under this Plan. 

“Incentive Stock Option” means an Option that is designated and intended as an “incentive stock option” within the
meaning of Section 422 of the Code, the award of which contains such provisions (including but not limited to the receipt of shareholder approval of this Plan, if the award is made prior to such approval) and is made under such circumstances
and to such persons who are U.S. residents as may be necessary to comply with that Section. 
 “Initial Public Offering”
means the Company’s first public offering underwritten on a firm commitment basis of its Class A Ordinary Shares or ADSs representing such Class A Ordinary Shares. 

“Nonqualified Option” means an Option that is not an “incentive stock option” within the meaning of
Section 422 of the Code and includes any Option designated or intended as a Nonqualified Option and any Option designated or intended as an Incentive Stock Option that fails to meet the applicable legal requirements thereof. 

  
 28 

 “Non-voting Ordinary Shares” has the
meaning given to such term in Section 5.1 of this Plan. 
 “Option” means an option to purchase Ordinary Shares
granted under Section 5 of this Plan. 
 “Ordinary Shares” means prior to the closing of the Initial Public Offering,
the Company’s Ordinary Shares, and following the closing of the Initial Public Offering, the Company’s Class A Ordinary Shares, and such other securities or property as may become the subject of Awards, or become subject to Awards,
pursuant to an adjustment made under Section 8.3.1 of this Plan. 
 “Participant” means an Eligible Person who has
been granted and holds an Award under this Plan. 
 “Personal Representative” means the person or persons who, upon the
disability or incompetence of a Participant, has acquired on behalf of the Participant, by legal proceeding or otherwise, the power to exercise the rights or receive benefits under this Plan by virtue of having become the legal representative of the
Participant. 
 “Plan” means this Sea Limited Share Incentive Plan, as it may hereafter be amended from time to time. 

“Restricted Shares” means Ordinary Shares awarded to a Participant under this Plan, subject to payment of such consideration
and such conditions on vesting (which may include, among others, the passage of time, specified performance objectives or other factors) and such transfer and other restrictions as are established in or pursuant to this Plan and the related Award
Agreement, to the extent such remain unvested and restricted under the terms of the applicable Award Agreement. 
 “Restricted Share
Award” means an award of Restricted Shares. 
 “RSU” means a contractual right to receive either cash or Ordinary
Shares awarded to a Participate under this Plan, subject to payment of such consideration and such conditions on vesting (which may include, among others, the passage of time, specified performance objectives or other factors) and such transfer and
other restrictions as are established in or pursuant to this Plan and the related Award Agreement, to the extent such remain unvested and restricted under the terms of the applicable Award Agreement. 

“SAR” means a share appreciation right, representing the right, subject to the terms and conditions of the Plan and the
applicable Award Agreement, to receive a payment, in cash and/or Ordinary Shares (as specified in the applicable Award Agreement), equal to the excess of the Fair Market Value of an Ordinary Share on the date the SAR is exercised over the “base
price” of the SAR, which base price shall be set forth in the applicable Award Agreement. 
 “Securities Act” means
the U.S. Securities Act of 1933, as amended from time to time. 

  
 29 

 “Severance Date” with respect to a particular Participant means, unless
otherwise provided in the applicable Award Agreement: 
  

	 	(a)	if the Participant is an Eligible Person under clause (a) of Section 3 and the Participant’s employment by the Company or any of its Affiliates terminates (regardless of the reason), the last day that the
Participant is actually employed by the Company or such Affiliate (unless, immediately following such termination of employment, the Participant is a member of the Board or, by express written agreement with the Company or any of its Affiliates,
continues to provide other services to the Company or any Affiliate as an Eligible Person under clause (c) of Section 3, in which case the Participant’s Severance Date shall not be the date of such termination of employment but shall
be determined in accordance with clause (b) or (c) below, as applicable, in connection with the termination of the Participant’s other services); 

  

	 	(b)	if the Participant is not an Eligible Person under clause (a) of Section 3 but is an Eligible Person under clause (b) thereof, and the Participant ceases to be a member of the Board (regardless of the
reason), the last day that the Participant is actually a member of the Board (unless, immediately following such termination, the Participant is an employee of the Company or any of its Affiliates or, by express written agreement with the Company or
any of its Affiliates, continues to provide other services to the Company or any Affiliate as an Eligible Person under clause (c) of Section 3, in which case the Participant’s Severance Date shall not be the date of such termination
but shall be determined in accordance with clause (a) above or (c) below, as applicable, in connection with the termination of the Participant’s employment or other services); 

 

	 	(c)	if the Participant is not an Eligible Person under clause (a) or clause (b) of Section 3 but is an Eligible Person under clause (c) thereof, and the Participant ceases to provide services to the
Company or any of its Affiliates as determined in accordance with Section 8.4.4 (regardless of the reason), the last day that the Participant actually provides services to the Company or such Affiliate as an Eligible Person under clause
(c) of Section 3 (unless, immediately following such termination, the Participant is an employee of the Company or any of its Affiliates or is a member of the Board, in which case the Participant’s Severance Date shall not be the date
of such termination of services but shall be determined in accordance with clause (a) or (b) above, as applicable, in connection with the termination of the Participant’s employment or membership on the Board). 

“Share Award” means an award of Ordinary Shares under Section 6 of this Plan. A Share Award may be a Restricted Share
Award or an award of unrestricted Ordinary Shares. 
 “Total Disability” means a “total and permanent disability”
within the meaning of Section 22(e)(3) of the Code and, with respect to Awards other than Incentive Stock Options, such other disabilities, infirmities, afflictions, or conditions as the Administrator may include. 

“Voting Ordinary Shares” has the meaning given to such term in Section 5.1 of this Plan. 

  
 30

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