Document:

EX-10.7

 Exhibit 10.7 

THE SECURITIES REPRESENTED BY THIS DOCUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OF THE UNITED STATES, AS AMENDED, AND HAVE BEEN ACQUIRED
FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 WARRANT TO PURCHASE
SERIES B PREFERRED SHARES OF I-MAB 
 (a Cayman Islands company) 

Warrant No. [Series Number] 
 September 25,
2017 
 THIS CERTIFIES THAT, for value received, [Name of Holder] or its permitted assigns (the “Holder”), is entitled, subject to the
terms and conditions of this Warrant, at any time and from time to time after the Closing Date (as defined in the Capital Increase Subscription Agreement (the “Purchase Agreement”) dated as of September 6, 2017 by and among I-MAB BIO-TECH (TIANJIN) CO., LTD., [Name of Holder]and certain other parties thereto; hereinafter also referred to as the “Effective Date”), and before 5:00
p.m. Hong Kong time on the second (2nd) anniversary of the Effective Date (the “Expiration Date”), to purchase from I-MAB, a Cayman Islands company (the “Company”), up to
[Number of Shares under the Warrant] Series B-2 Preferred Shares of the Company at the per share exercise price of US$6.057213 (as may be adjusted from time to time, the “Exercise Price”). The
Exercise Price and the number of Warrant Shares (as defined herein) issuable upon exercise of this Warrant are subject to adjustment as provided herein. 

Capitalized terms used but not defined in this Warrant shall have the meanings assigned in the Articles of the Company. 

 

	1.	 CERTAIN DEFINITIONS. As used in this Warrant the following terms shall have the following respective
meanings: 

 “Affiliate” means, with respect to a person, any other person that, directly or indirectly,
controls, is controlled by or is under common control with such person. 
 “Qualified IPO” shall have the meaning as
prescribed in the Company’s Third Amended and Restated Memorandum and Articles of Association (the “Articles”). 

 “Registered Holder” shall mean any Holder in whose name this Warrant is
registered from time to time upon the books and records maintained by the Company. 
 “Securities Regulatory Authority”
shall mean any government agency or body with lawful jurisdiction over the public offering or trading of securities, and includes without limitation the U.S. Securities and Exchange Commission (the “SEC”) and any similar or
successor body, each as constituted from time to time. 
 “Shareholders Agreement” shall mean the Shareholders Agreement of
the Company as amended and restated from time to time. 
 “Warrant” shall include this Warrant and any warrant delivered in
substitution or exchange for this Warrant as provided herein. 
 “Warrant Shares” shall mean the Series B-2 Preferred Shares of the Company and any other securities, including without limitation any securities into or for which the Series B-2 Preferred Shares have been converted
or exchanged, at any time receivable or issuable upon exercise of this Warrant. 
  

	2.	 EXERCISE OF WARRANT 

2.1    Payment. Subject to compliance with the terms and conditions of this Warrant and applicable securities laws, this
Warrant may be exercised, in whole or in part, at any time or from time to time, on or before the Expiration Date by the delivery of a written notice of exercise form appended hereto as Exhibit A (the “Exercise Notice”) duly
executed by the Holder, at the principal office of the Company, accompanied by 
 (a)    this Warrant, and 

(b)    payment, (i) in cash (by check) or by wire transfer, (ii) by cancellation by the Holder of indebtedness
of the Company to the Holder; or (iii) by a combination of (i) and (ii), of an amount equal to the product obtained by multiplying the number of Warrant Shares being purchased upon such exercise by the then effective Exercise Price (the
resulting product, the “Exercise Amount”). 
 The delivery of an Exercise Notice to the Company by any means customarily
used at the time for written commercial communications (including without limitation delivery by facsimile transmission) shall constitute sufficient delivery. 

2.2    Shareholders Agreement. By exercising this Warrant, the Holder shall automatically become a party to and be bound
by the Shareholders Agreement as an “Investor” (as defined therein). 
 2.3    Share Certificates; Fractional
Shares. As soon as practicable on or after the date of exercise of this Warrant under Section 2.2 above, the Company shall issue to the person or persons entitled to receive the Warrant Shares issuable upon such exercise
and shall deliver to such person or persons a certificate or certificates in respect of such Warrant Shares. No fractional shares or scrip representing fractional shares shall be issued upon an exercise of this Warrant. 

  
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 2.4    Effective Date of Exercise. This Warrant shall be deemed to have
been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above. The person entitled to receive the Warrant Shares issuable upon exercise of this Warrant shall be treated for all purposes as the
holder of record of such shares as of the close of business on the date the Holder is deemed to have exercised this Warrant, subject to such person having been entered on the register of members of the Company as the holder of such shares. 

2.5    Expiration Date. This Warrant shall expire if it is not exercised prior to or in connection with a Qualified IPO.

  

	3.	 VALID ISSUANCE; TAXES AND EXPENSES. All Warrant Shares issued upon the exercise of this Warrant shall be
validly issued, fully paid and non-assessable upon receipt of the Exercise Amount by the Company and the relevant entries being made in the register of members of the Company, and the Company and Holder shall
pay or bear respective taxes and other governmental charges and bank fees, printing and authentication fees and expenses, and other miscellaneous costs and expenses that may be imposed or incurred in respect of the issue or delivery of the Warrant
Shares pursuant to applicable law. 

  

	4.	 ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF SHARES. The number of Warrant Shares issuable upon
exercise of this Warrant (or any shares or other securities or property receivable or issuable upon exercise of this Warrant) and the Exercise Price are subject to adjustment upon occurrence of the following events: 

4.1    Adjustment for Share Splits, Share Subdivisions or Combinations of Shares. If the Company at any time while this
Warrant, or any portion hereof, remains outstanding and unexpired shall split, subdivide or combine the Warrant Shares into a different number of securities of the same class, the number of Warrant Shares issuable upon exercise of this Warrant shall
be proportionately increased and the Exercise Price for such securities shall be proportionately decreased in the case of a split or subdivision, and likewise, the number of Warrant Shares issuable upon exercise of this Warrant shall be
proportionately decreased and the Exercise Price proportionately increased in the case of a combination. When any adjustment is required to be made in the Exercise Price in accordance with this Section 4.1, the number of
Warrant Shares purchasable upon the exercise of this Warrant shall be changed to the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Warrant immediately prior to such adjustment,
multiplied by the Exercise Price in effect immediately prior to such adjustment, by (ii) the Exercise Price in effect immediately after such adjustment. 

4.2    Adjustment for Dividends or Distributions of Shares or Other Securities or Property. In case the Company shall make
or issue, or shall fix a record date for the determination of eligible holders entitled to receive, a dividend or other distribution with respect to the Warrant Shares (or any shares or other securities at the time issuable upon exercise of the
Warrant) payable in (i) securities of the Company or (ii) assets (excluding cash dividends paid solely out of retained earnings), then in each such case, the Holder on exercise of this Warrant at any time after the consummation, effective
date or record date of such dividend or other distribution, shall receive, in addition to the Warrant Shares (or such other shares or securities) issuable on such exercise prior to such date, and without the payment of additional consideration
therefor, the securities or such other assets of the Company to which such Holder would have been entitled upon such date if such Holder had exercised this Warrant on the date hereof and had thereafter, during the period from the date hereof to and
including the date of such exercise, retained such shares and/or all other additional shares available by it as aforesaid during such period giving effect to all adjustments called for by this Section 4. 

  
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 4.3    Reclassification. If the Company, by reclassification of
securities or otherwise, shall change any of the securities as to which purchase rights under this Warrant exist into the same or a different number of securities of any other class or classes, this Warrant shall thereafter represent the right to
acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities that were subject to the purchase rights under this Warrant immediately prior to such reclassification or other change
and the Exercise Price therefore shall be appropriately adjusted, all subject to further adjustment as provided in this Section 4. No adjustment shall be made pursuant to this Section 4.3 upon any
conversion or redemption of the Warrant Shares which is the subject of Section 4.5. 

4.4    Adjustment for Capital Reorganization, Merger or Consolidation. If at any time while this Warrant, or any portion
hereof, is outstanding and unexpired there shall occur (i) a reorganization (other than a combination, reclassification, exchange or subdivision of shares as otherwise provided for herein), (ii) a merger or consolidation of the Company with or
into another company in which the Company is not the surviving entity, or a reverse triangular merger or similar transaction in which the Company is the surviving entity but the shares of the Company outstanding immediately prior to the merger are
converted into other property, whether in the form of securities, cash, or otherwise, and as a result of which the ownership of the Company shall change by fifty percent (50%) or more, or (iii) a sale or transfer of all or substantially all of
the Company’s assets to any other person, then as a part of such reorganization, merger, consolidation, sale or transfer (collectively, a “Change of Control”), this Warrant shall cease to represent the right to receive Warrant
Shares and shall automatically represent the right to receive upon the exercise of this Warrant, during the period specified herein and upon payment of the Exercise Price then in effect, the number of shares or other securities or property that a
holder of Warrant Shares deliverable upon exercise of this Warrant would have been entitled to receive in such Change of Control if this Warrant had been exercised as to all such Warrant Shares immediately before such Change in Control, subject to
further adjustment as provided in this Section 4. The foregoing provisions of this Section 4.4 shall similarly apply to successive reorganizations, consolidations, mergers, sales, and transfers to
the extent that this Warrant is assigned to or assumed by any successor company or entity, whether by operation of law or otherwise, and to the shares or securities of any other corporation that are at the time receivable upon the exercise of this
Warrant. If the per-share consideration payable to the holder hereof for Warrant Shares in connection with any such transaction is in a form other than cash or marketable securities, then the value of such
consideration shall be determined in good faith by the Company’s Board of Directors. In all events, appropriate adjustment (as determined in good faith by the Company’s Board of Directors) shall be made in the application of the provisions
of this Warrant with respect to the rights and interests of the Holder after the transaction, to the end that the provisions of this Warrant shall be applicable after that event, as near as reasonably may be, in relation to any shares or other
property deliverable after that event upon exercise of this Warrant. 

  
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 4.5    Redemption or Termination of Warrant Shares. In case all or any
portion of the authorized and outstanding Warrant Shares are redeemed or converted or reclassified into other securities or property pursuant to the Company’s Memorandum and Articles of Association (as amended from time to time) or otherwise,
or the Warrant Shares otherwise cease to exist, then, in such case the Holder of this Warrant, upon exercise hereof at any time after the date on which the Warrant Shares are so redeemed or cease to exist (the “Warrant Share Termination
Date”), shall receive, subject to the terms of this Warrant, in lieu of the number of Warrant Shares that would have been issuable upon such exercise immediately prior to the Warrant Share Termination Date, the securities or property that
would have been received if this Warrant had been exercised in full and the Warrant Shares received thereupon had been simultaneously converted immediately prior to the Warrant Share Termination Date, all subject to further adjustment as provided in
this Warrant. Additionally, the Exercise Price shall be immediately adjusted to equal the quotient obtained by dividing (i) the aggregate Exercise Price of the maximum number of Warrant Shares for which this Warrant was exercisable immediately
prior to the Warrant Share Termination Date by (ii) the number of Warrant Share for which this Warrant is exercisable immediately after the Warrant Share Termination Date, all subject to further adjustment as provided herein. 

 

	5.	 CERTIFICATE AS TO ADJUSTMENTS. In each case of any adjustment in the Exercise Price, or number or type
of shares issuable upon exercise of this Warrant, the Chief Executive Officer, the Chief Financial Officer or Controller of the Company shall compute such adjustment in accordance with the terms of this Warrant and prepare a certificate setting
forth such adjustment and showing in detail the facts upon which such adjustment is based, including a statement of the adjusted Exercise Price. The Company shall promptly send (by facsimile and by either first class mail, postage prepaid or
overnight delivery) a copy of each such certificate to the Holder. 

  

	6.	 LOSS OR MUTILATION. Upon receipt of evidence reasonably satisfactory to the Company of the ownership of
and the loss, theft, destruction or mutilation of this Warrant, and of indemnity reasonably satisfactory to it, and (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver in lieu thereof a
new Warrant of like tenor as the lost, stolen, destroyed or mutilated Warrant. 

  

	7.	 RESERVATION OF WARRANT SHARES. The Company hereby covenants that at all times there shall be made
available for issuance and delivery upon exercise of this Warrant such number of Warrant Shares or other securities as are from time to time issuable upon exercise of this Warrant. All such shares shall be duly authorized, and when issued upon such
exercise, shall be validly issued, fully paid and non-assessable upon receipt of the Exercise Amount by the Company and the relevant entries being made in the register of members of the Company, free and clear
of all liens, security interests, charges and other encumbrances or restrictions on sale and free and clear of all preemptive rights, except encumbrances or restrictions arising under federal or state securities laws and the Company’s Articles
of Association. Issuance of this Warrant shall constitute full authority to the Company’s directors who are charged with the duty of executing and updating the register of members of the Company and issuing the necessary certificates for
Warrant Shares upon the exercise of this Warrant. 

  
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	8.	 TRANSFER AND EXCHANGE. 

8.1    Unregistered Security. Holder of this Warrant acknowledges that this Warrant, the Warrant Shares and the Ordinary
Shares of the Company have not been registered under the Securities Act of 1933 of the United States, as amended (the “Securities Act”), and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of
this Warrant, any Warrant Shares issued upon its exercise or any Ordinary Shares issued upon conversion of the Warrant Shares in the absence of (i) an effective registration statement under the Securities Act as to this Warrant, such Warrant
Shares or such Ordinary Shares and registration or qualification of this Warrant, such Warrant Shares or such Ordinary Shares under any applicable U.S. federal, state or foreign securities law then in effect, or (ii) an opinion of counsel that
such registration and qualification are not required. Each certificate or other instrument for Warrant Shares issued upon the exercise of this Warrant shall bear a legend substantially to the foregoing effect. 

8.2    Transferability. Subject to the terms and conditions of this Warrant and compliance with all applicable securities
laws, this Warrant and all rights hereunder may be freely assigned, in whole or in part, by the Registered Holder to any affiliate of such Registered Holder or to any person who holds or is acquiring shares of any class or series of the Company, or
with prior written consent of the Founders (as defined in the Shareholders Agreement) (which consent shall not be unreasonably withheld, delayed or conditioned), to any other third party, upon surrender of this Warrant properly endorsed and upon
payment of any necessary transfer tax or other governmental charge imposed upon such transfer. Upon any partial transfer, the Company will issue and deliver to the Registered Holder a new Warrant or Warrants with respect to the Warrant Shares not so
transferred. Each taker and holder of this Warrant, by taking or holding the same, consents and agrees that when this Warrant shall have been so endorsed, the person in possession of this Warrant may be treated by the Company, and all other persons
dealing with this Warrant, as the absolute owner hereof for any purpose and as the person entitled to exercise the rights represented hereby, any notice to the contrary notwithstanding; provided, however that until a transfer of this Warrant is duly
registered on the books of the Company, the Company may treat the Registered Holder hereof as the owner for all purposes. 
  

	9.	 NO RIGHTS OR LIABILITIES AS SHAREHOLDERS. This Warrant shall not entitle the Holder to any voting rights
or other rights as a shareholder of the Company. 

  

	10.	 REGISTRATION RIGHTS. All Warrant Shares issuable upon exercise of this Warrant shall be
“Registrable Securities” as defined in the Shareholders Agreement (as amended and restated from time to time) and entitled to all registration, public offering and other rights and obligations of holders of Series B-2 Preferred Shares of the Company under the Shareholders Agreement, subject to the respective terms and conditions of each such agreement. 

 

	11.	 NOTICES. All notices and other communications from the Company to the Holder or vice versa shall be
given to the recipient at the respective address set forth beneath its signature below, at any address for notices provided in the Shareholders Agreement, or at such other address which the recipient may provide in writing from time to time.

  
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	12.	 TITLES AND HEADINGS. The titles, captions and headings of this Warrant are included for ease of
reference only and will be disregarded in interpreting or construing this Warrant. Unless otherwise specifically stated, all references herein to “sections” and “exhibits” will mean “sections” and “exhibits”
to this Warrant. 

  

	13.	 GOVERNING LAW. This Warrant shall be governed by and construed exclusively in accordance with the laws
of the Hong Kong S.A.R. of the PRC (“Hong Kong”) without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than Hong Kong to the rights and duties of the parties
hereunder. 

  

	14.	 NO IMPAIRMENT. The Company will not, through reorganization, consolidation, merger, issue or sale of
securities, sale of assets or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of
all such action as may be necessary or appropriate in order to protect the rights of the Registered Holder of this Warrant against impairment. Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of
any Warrant Shares above the amount payable therefor upon such exercise, and (ii) shall take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon exercise of this Warrant. 

  

	15.	 NOTICES OF RECORD DATE. In case: (i) the Company shall take a record of the holders of its Ordinary
Shares or other shares or securities at the time receivable upon the exercise of this Warrant, for the purpose of entitling them to receive any dividend or other distribution, or any right to subscribe for or purchase any shares of any class or any
other securities or to receive any other right; (ii) of any consolidation or merger of the Company with or into another company, any capital reorganization of the Company, any reclassification of the share capital of the Company, or any
conveyance of all or substantially all of the assets of the Company to another company in which holders of the Company’s shares are to receive shares, securities or property of another company; (iii) of any voluntary dissolution,
liquidation or winding-up of the Company; or (iv) of any redemption or conversion of all outstanding Series B-2 Preferred Shares; then, and in each such case, the
Company will mail or cause to be mailed to the Registered Holder of this Warrant a notice specifying, as the case may be, (A) the date on which a record is to be taken for the purpose of such dividend, distribution or right, or (B) the
date on which such event or transaction is to take place, and the time, if any is to be fixed, as of which the holders of record of Warrant Shares shall be entitled to exchange their Warrant Shares for securities or other property deliverable upon
such event or transaction. Such notice shall be delivered at least thirty (30) days prior to the date therein specified. 

  

	16.	 SEVERABILITY. If any paragraph, provision or clause of this Warrant shall be found or be held to be
illegal, invalid or unenforceable, the remainder of this Warrant shall be valid and enforceable and the parties shall use good faith to negotiate a substitute, valid and enforceable provision that most nearly effects the parties’ intent in
entering into this Warrant. 

  
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	17.	 COUNTERPARTS. This Warrant may be executed and delivered by facsimile, telecopy, portable document
format (“pdf”) (or other electronically transmitted) signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  

	18.	 MODIFICATION AND WAIVER. This Warrant and any provision hereof may be amended, waived, discharged or
terminated only by an instrument in writing signed by the Company and the Holder of Warrant exercisable for a majority of the aggregate number of Series B-2 Preferred Shares issuable upon exercise of all
warrants issued pursuant to the Purchase Agreement. 

  

	19.	 SATURDAYS, SUNDAYS AND HOLIDAYS. If the Expiration Date falls on a Saturday, Sunday or bank holiday in
the PRC, Hong Kong or the Cayman Islands, the Expiration Date shall automatically be extended until 5:00 p.m. the next Business Day. 

  

	20.	 DISPUTE RESOLUTION. 

20.1    Any dispute, controversy or claim arising out of, in connection with or relating to this Warrant, including the
interpretation, validity, invalidity, breach or termination thereof, shall be settled by arbitration. 
 20.2    The
arbitration shall be conducted in Hong Kong under the UNCITRAL Arbitration Rules in force when the notice of arbitration is submitted in accordance with the said Rules. The number of arbitrators shall be one. The arbitration shall be conducted in
the English language. 
 20.3    Each party shall cooperate with the other in making full disclosure of and providing
complete access to all information and documents requested by the other in connection with such arbitration proceedings, subject only to any doctrine of legal privilege or any confidentiality obligations binding on such party. 

20.4    The costs of arbitration shall be borne by the losing party, unless otherwise determined by the arbitration
tribunal. 
 20.5    When any dispute occurs and when any dispute is under arbitration, except for the matters in
dispute, the parties shall continue to fulfill their respective obligations and shall be entitled to exercise their rights under this Warrant. 

20.6    The award of the arbitration tribunal shall be final and binding upon the parties, and the prevailing party may
apply to a court of competent jurisdiction for enforcement of such award. 
 20.7    Regardless of anything else
contained herein, any party shall be entitled to seek preliminary injunctive relief from any court of competent jurisdiction pending the conclusion of the arbitration. 

  
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 [REST OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 [Signature Page of Warrant] 

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

 

			
	 I-Mab
	 	
		
	 Signature:
	 	 /s/

	 Name:
	 	
	 Title:
	 	
	
	 [Name of Holder]

		
	 Signature:
	 	 /s/

	 Name:
	 	
	 Title:
	 	

 Schedule of Material Differences 

One or more persons purchased warrants from I-Mab using this form. Pursuant to Instruction ii to Item 601 of
Regulation S-K, the Registrant may only file this form as an exhibit with a schedule setting forth the material details in which the executed agreements differ from this form: 

 

							
	 Series No.
	  	 Name of Holder
	  	Number of Shares under
the Warrant	 
	 Series B-1
	  	CBC Investment I-Mab Limited	  	 	4,994,046	 
	 Series B-2
	  	Shanghai Tasly Pharmaceutical Co., Ltd.	  	 	2,104,928	 
	 Series B-3
	  	Qianhai Equity Investment Fund (Limited Partnership)	  	 	515,914	 
	 Series B-4
	  	Tianjin Kangshijing Biopharmaceutical Technology Partnership (Limited Partnership)	  	 	639,734	 
	 Series B-5
	  	C-Bridge II Investment Ten Limited	  	 	639,734EX-10.22

 Exhibit 10.22 

I-MAB 

2019 Share Incentive Plan 

ARTICLE 1 
 PURPOSE

 The purpose of the Plan is to promote the success and enhance the value of I-MAB, an exempted
company formed under the laws of the Cayman Islands (the “Company”), by linking the personal interests of the Directors, Employees, and Consultants to those of the Company’s shareholders and by providing such individuals with
an incentive for outstanding performance to generate superior returns to the Company’s shareholders. 
 ARTICLE 2 

DEFINITIONS AND CONSTRUCTION 

Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates
otherwise. The singular pronoun shall include the plural where the context so indicates. 
 2.1      “Applicable
Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or
national market system, of any jurisdiction applicable to Awards granted to residents therein.
 2.2
    “Award” means an Option, Restricted Share, Restricted Share Units or other types of award approved by the Committee granted to a Participant pursuant to the Plan. 

2.3     “Award Agreement” means any written agreement, contract, or other instrument or document
evidencing an Award, including through electronic medium. 
 2.4     “Board” means the Board of
Directors of the Company. 
 2.5     “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 Service Recipient, 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 Service Recipient, 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; 

  
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 (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 Service Recipient; or has been convicted of, or plead 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 Service Recipient; 

(e)    has engaged in unfair competition with, or otherwise acted intentionally in a manner injurious to the reputation,
business or assets of, the Service Recipient; or 
 (f)    has improperly induced a vendor or customer to break or
terminate any contract with the Service Recipient or induced a principal for whom the Service Recipient acts as agent to terminate such agency relationship. 

A termination for Cause shall be deemed to occur (subject to reinstatement upon a contrary final determination by the Committee) on the date
on which the Service Recipient first delivers written notice to the Participant of a finding of termination for Cause. 
 2.6
    “Code” means the Internal Revenue Code of 1986 of the United States, as amended. 
 2.7
     “Committee” means a committee of the Board described in Article 10. 
 2.8
     “Consultant” means any consultant or adviser if: (a) the consultant or adviser renders bona fide services to a Service Recipient; (b) the services rendered by the consultant or adviser are not in
connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities; and (c) the consultant or adviser is a natural person who has
contracted directly with the Service Recipient to render such services. For the avoidance of doubt, each member of the scientific advisory board of the Company is a Consultant. 

2.9      “Corporate Transaction”, unless otherwise defined in an Award Agreement, means any of the
following transactions, provided, however, that the Committee shall determine under (d) and (e) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 

(a)    an amalgamation, arrangement or consolidation or scheme of arrangement (i) in which the Company is not the
surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction in which the Company is incorporated or (ii) following which the holders of the voting securities of the Company do not continue to hold
more than 50% of the combined voting power of the voting securities of the surviving entity; 

  
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 (b)    the sale, transfer or other disposition of all or substantially
all of the assets of the Company; 
 (c)    the complete liquidation or dissolution of the Company; 

(d)    any reverse takeover or series of related transactions culminating in a reverse takeover (including, but not
limited to, a tender offer followed by a reverse takeover) in which the Company is the surviving entity but (A) the Company’s equity securities outstanding immediately prior to such takeover are converted or exchanged by virtue of the
takeover into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are
transferred to a person or persons different from those who held such securities immediately prior to such takeover or the initial transaction culminating in such takeover, but excluding any such transaction or series of related transactions that
the Committee determines shall not be a Corporate Transaction; or 
 (e)    acquisition in a single or series of related
transactions by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of
securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a
Corporate Transaction. 
 2.10    “Director”, means a member of the Board or a member of the board of
directors of any Subsidiary of the Company. 
 2.11     “Disability”, unless otherwise defined in an
Award Agreement, means that the Participant qualifies to receive long-term disability payments under the Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides
services regardless of whether the Participant is covered by such policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in place, “Disability” means that a Participant is
unable to carry out the responsibilities and functions of the position held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will
not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. 

2.12    “Effective Date” shall have the meaning set forth in Section 11.1. 

2.13    “Employee” means any person, including an officer or a Director, who is in the employment of a
Service Recipient, subject to the control and direction of the Service Recipient as to both the work to be performed and the manner and method of performance. The payment of a director’s fee by a Service Recipient shall not be sufficient to
constitute “employment” by the Service Recipient. 
 2.14    “Exchange Act” means the
Securities Exchange Act of 1934 of the United States, as amended. 

  
 3 

 2.15    “Fair Market Value” means, as of any
date, the value of Shares determined as follows: 
 (a)    If the Shares are listed on one or more established stock
exchanges or national market systems, including without limitation, the New York Stock Exchange or the NASDAQ Stock Market, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as
quoted on the principal exchange or system on which the Shares are listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date
such closing sales price or closing bid was reported), as reported on the website maintained by such exchange or market system or such other source as the Committee deems reliable; or 

(b)    In the absence of an established market for the Shares of the type described in (a) above, the Fair Market
Value thereof shall be determined by the Committee in good faith and in its discretion by reference to (i) the placing price of the latest private placement of the Shares and the development of the Company’s business operations and the
general economic and market conditions since such latest private placement, (ii) other third party transactions involving the Shares and the development of the Company’s business operation and the general economic and market conditions
since such transaction, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information as the Committee determines to be indicative of Fair Market Value. 

2.16    “Group Entity” means any of the Company and Subsidiaries of the Company. 

2.17    “Incentive Share Option” means an Option that is intended to meet the requirements of
Section 422 of the Code or any successor provision thereto. 
 2.18    “Independent Director”
means (i) if the Shares or other securities representing the Shares are not listed on a stock exchange, a Director of the Company who is a Non-Employee Director; and (ii) if the Shares or other
securities representing the Shares are listed on one or more stock exchange, a Director of the Company who meets the independence standards under the applicable corporate governance rules of the stock exchange(s). 

2.19     “Non-Employee Director” means a member of the Board who
qualifies as a “Non-Employee Director” as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board. 

2.20    “Non-Qualified Share Option” means an Option that
is not intended to be an Incentive Share Option. 
 2.21    “Option” means a right granted to a
Participant pursuant to Article 5 of the Plan to purchase a specified number of Shares at a specified price during specified time periods. An Option may be either an Incentive Share Option or a Non-Qualified
Share Option. 
 2.22    “Participant” means a person who, as a Director, Consultant or Employee, has
been granted an Award pursuant to the Plan. 
 2.23    “Parent” means a parent corporation under
Section 424(e) of the Code. 

  
 4 

 2.24    “Plan” means this 2019 Share Incentive Plan of I-MAB, as amended and/or restated from time to time. 

2.25    “Related Entity” means any business, corporation, partnership, limited liability company
or other entity in which the Company, a Parent or Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, or controls through contractual arrangements and consolidates the financial results according to applicable
accounting standards, but which is not a Subsidiary and which the Board designates as a Related Entity for purposes of the Plan. 

2.26    “Restricted Share” means a Share awarded to a Participant pursuant to Article 6 that is subject
to certain restrictions and may be subject to risk of forfeiture. 
 2.27    “Restricted Share Unit”
means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date. 

2.28    “Securities Act” means the Securities Act of 1933 of the United States, as amended. 

2.29    “Service Recipient” means the Company or Subsidiary of the Company to which a Participant
provides services as an Employee, a Consultant or a Director. 
 2.30    “Share” means the ordinary
shares of the Company, par value US$0.0001 per share, and such other securities of the Company that may be substituted for Shares pursuant to Article 9. 

2.31    “Subsidiary” means any corporation or other entity of which a majority of the outstanding voting
shares or voting power is beneficially owned directly or indirectly by the Company. 
 2.32    “Trading
Date” means the closing of the first sale to the general public of the Shares pursuant to a registration statement filed with and declared effective by the U.S. Securities and Exchange Commission under the Securities Act. 

ARTICLE 3 
 SHARES
SUBJECT TO THE PLAN 
 3.1     Number of Shares.  

(a)    Subject to the provisions of Article 9 and Section 3.1(b), the maximum aggregate number of Shares which may be
issued pursuant to all Awards (including Incentive Share Options) (the “Award Pool”) shall initially be 100,000 Shares. 

  
 5 

 (b)    To the extent that an Award terminates, expires, or lapses for
any reason, any Shares subject to the Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any
entity acquired in any form or combination by a Group Entity shall not be counted against Shares available for grant pursuant to the Plan. Shares delivered by the Participant or withheld by the Company upon the exercise of any Award under the Plan,
in payment of the exercise price thereof or tax withholding thereon, may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). If any Restricted Shares are forfeited by the Participant or repurchased by
the Company, such Shares may again be optioned, granted or awarded hereunder, subject to the limitations of Section 3.1(a). Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned, granted or awarded if such
action would cause an Incentive Share Option to fail to qualify as an incentive share option under Section 422 of the Code. 

3.2     Shares Distributed. Any Shares distributed pursuant to an Award may consist, in whole or in part, of
authorized and unissued Shares, treasury Shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, at the discretion of the Committee, any Shares distributed pursuant to an Award may be represented by American
Depository Shares. If the number of Shares represented by an American Depository Share is other than on a one-to-one basis, the limitations of Section 3.1 shall be
adjusted to reflect the distribution of American Depository Shares in lieu of Shares. 
 ARTICLE 4 

ELIGIBILITY AND PARTICIPATION 

4.1     Eligibility. Persons eligible to participate in this Plan include the independent directors of the Company.

 4.2     Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from
among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be granted an Award pursuant to this Plan. 

ARTICLE 5 
 OPTIONS

 5.1     General. The Committee is authorized to grant Options to Participants on the following terms and
conditions: 
 (a)    Exercise Price. The exercise price per Share subject to an Option shall be determined by
the Committee and set forth in the Award Agreement which may be a fixed price or a variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion
of the Committee, the determination of which shall be final, binding and conclusive. For the avoidance of doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned
in the preceding sentence shall be effective without the approval of the Company’s shareholders or the approval of the affected Participants. 

  
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 (b)    Time and Conditions of Exercise. The Committee shall
determine the time or times at which an Option may be exercised in whole or in part, including exercise prior to vesting; provided that the term of any Option granted under the Plan shall not exceed ten years, except as provided in
Section 12.1. The Committee shall also determine any conditions, if any, that must be satisfied before all or part of an Option may be exercised. 

(c)    Payment. The Committee shall determine the methods by which the exercise price of an Option may be paid, the
form of payment, including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in Chinese Renminbi, (iii) cash or check denominated in any other
local currency as approved by the Committee, (iv) Shares held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value on the date of delivery equal
to the aggregate exercise price of the Option or exercised portion thereof, (v) after the Trading Date the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares then issuable upon exercise
of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds is then made to the Company upon
settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination of the foregoing. Notwithstanding any other provision of the Plan to the contrary, no
Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method which would violate
Section 13(k) of the Exchange Act. 
 (d)    Effects of Termination of Employment or Service on Options.
Termination of employment or service shall have the following effects on Options granted to the Participants: 

(i)    Dismissal for Cause. Unless otherwise provided in the Award Agreement, if a Participant’s employment
by or service to the Service Recipient is terminated by the Service Recipient for Cause, the Participant’s Options will terminate upon such termination, whether or not the Option is then vested and/or exercisable; 

(ii)    Death or Disability. Unless otherwise provided in the Award Agreement, if a Participant’s employment
by or service to the Service Recipient terminates as a result of the Participant’s death or Disability: 
  

	 	(a)	 the Participant (or his or her legal representative or beneficiary, in the case of the Participant’s
Disability or death, respectively), will have until the date that is 12 months after the Participant’s termination of Employment to exercise the Participant’s Options (or portion thereof) to the extent that such Options were vested and
exercisable on the date of the Participant’s termination of Employment on account of death or Disability; 

  

	 	(b)	 the Options, to the extent not vested and exercisable on the date of the Participant’s termination of
Employment or service, shall terminate upon the Participant’s termination of Employment or service on account of death or Disability; and 

  
 7 

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

 (iii)    Other Terminations of Employment or Service. Unless otherwise provided in the
Award Agreement, if a Participant’s employment by or service to the Service Recipient terminates for any reason other than a termination by the Service Recipient for Cause or because of the Participant’s death or Disability: 

 

	 	(a)	 the Participant will have until the date that is 90 days after the Participant’s termination of Employment
or service to exercise his or her Options (or portion thereof) to the extent that such Options were vested and exercisable on the date of the Participant’s termination of Employment or service; 

 

	 	(b)	 the Options, to the extent not vested and exercisable on the date of the Participant’s termination of
Employment or service, shall terminate upon the Participant’s termination of Employment or service; and 

  

	 	(c)	 the Options, to the extent exercisable for the 90-day period following
the Participant’s termination of Employment or service and not exercised during such period, shall terminate at the close of business on the last day of the 90-day period. 

5.2     Incentive Share Options. Incentive Share Options may be granted to Employees of the Company or a Subsidiary
of the Company. Incentive Share Options may not be granted to employees of a Related Entity or to Independent Directors or Consultants. The terms of any Incentive Share Options granted pursuant to the Plan, in addition to the requirements of
Section 5.1, must comply with the following additional provisions of this Section 5.2: 
 (a)    Individual
Dollar Limitation. The aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Share Options are first exercisable by a Participant in any calendar year may not exceed $100,000
or such other limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Share Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options. 
 (b)    Exercise Price. The exercise price of an
Incentive Share Option shall be equal to the Fair Market Value on the date of grant. However, the exercise price of any Incentive Share Option granted to any individual who, at the date of grant, owns Shares possessing more than ten percent of the
total combined voting power of all classes of shares of the Company or any Parent or Subsidiary of the Company may not be less than 110% of Fair Market Value on the date of grant and such Option may not be exercisable for more than five years from
the date of grant. 

  
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 (c)    Transfer Restriction. The Participant shall give the
Company prompt notice of any disposition of Shares acquired by exercise of an Incentive Share Option within (i) two years from the date of grant of such Incentive Share Option or (ii) one year after the transfer of such Shares to the
Participant. 
 (d)    Expiration of Incentive Share Options. No Award of an Incentive Share Option may be made
pursuant to this Plan after the tenth anniversary of the Effective Date. 
 (e)    Right to Exercise. During a
Participant’s lifetime, an Incentive Share Option may be exercised only by the Participant. 
 ARTICLE 6 

RESTRICTED SHARES 

6.1     Grant of Restricted Shares. The Committee, at any time and from time to time, may grant Restricted Shares
to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Shares to be granted to each Participant. 

6.2     Restricted Shares Award Agreement. Each Award of Restricted Shares shall be evidenced by an Award Agreement
that shall specify the period of restriction, the number of Restricted Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. Unless the Committee determines otherwise, Restricted Shares shall
be held by the Company as escrow agent until the restrictions on such Restricted Shares have lapsed. 
 6.3    
Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Shares or the
right to receive dividends on the Restricted Shares). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant
of the Award or thereafter. 
 6.4     Forfeiture/Repurchase. Except as otherwise determined by the Committee at
the time of the grant of the Award or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Shares that are at that time subject to restrictions shall be forfeited or repurchased in accordance
with the Award Agreement; provided, however, the Committee may (a) provide in any Restricted Share Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole or in part in the
event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Shares. 

6.5     Certificates for Restricted Shares. Restricted Shares granted pursuant to the Plan may be evidenced in such
manner as the Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to
such Restricted Shares, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. 

  
 9 

 6.6     Removal of Restrictions. Except as otherwise provided in
this Article 6, Restricted Shares granted under the Plan shall be released from escrow as soon as practicable after the last day of the period of restriction. The Committee, in its discretion, may accelerate the time at which any restrictions shall
lapse or be removed. After the restrictions have lapsed, the Participant shall be entitled to have any legend or legends under Section 6.5 removed from his or her Share certificate, and the Shares shall be freely transferable by the
Participant, subject to applicable legal restrictions. The Committee (in its discretion) may establish procedures regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens
on the Company. 
 ARTICLE 7 

7.1    Grant of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted
Share Units to Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share Units to be granted to each Participant. 

7.2    Restricted Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award
Agreement that shall specify any vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

7.3    Form and Timing of Payment of Restricted Share Units. At the time of grant, the Committee shall specify the
date or dates on which the Restricted Share Units shall become fully vested and nonforfeitable. Upon vesting, the Committee, in its sole discretion, may pay Restricted Share Units in the form of cash, Shares or a combination thereof. 

7.4    Forfeiture/Repurchase. Except as otherwise determined by the Committee at the time of the grant of the Award
or thereafter, upon termination of employment or service during the applicable restriction period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased in accordance with the Award Agreement; provided,
however, the Committee may (a) provide in any Restricted Share Unit Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the event of terminations
resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Share Units. 

ARTICLE 8 
 PROVISIONS
APPLICABLE TO AWARDS 
 8.1     Award Agreement. Awards under the Plan shall be evidenced by Award Agreements
that set forth the terms, conditions and limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to
unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award. 

  
 10 

 8.2     No Transferability; Limited Exception to Transfer
Restrictions. 
 8.2.1. Limits on 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 

(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 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 or a Subsidiary; 

(b)    transfers by gift to “immediate family” as that term is defined in SEC Rule 16a-1(e) promulgated under the Exchange Act; 
 (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; or 
 (e)    subject to the
prior approval of the Committee or an executive officer or director of the Company authorized by the Committee, transfer to one or more natural persons who are the Participant’s family members or entities owned and controlled by the Participant
and/or the Participant’s family members, including but not limited to trusts or other entities whose beneficiaries or beneficial owners are the Participant and/or the Participant’s family members, or to such other persons or entities as
may be expressly approved by the Committee, pursuant to such conditions and procedures as the Committee or may establish. Any permitted transfer shall be subject to the condition that the Committee receives evidence satisfactory to it that the
transfer is being made for estate and/or tax planning purposes and on a basis consistent with the Company’s lawful issue of securities. 

  
 11 

 Notwithstanding anything else in this Section 8.2.2 to the contrary, but subject to
compliance with all Applicable Laws, Incentive Share Options, Restricted Shares and Restricted Share Units will be subject to any and all transfer restrictions under the Code applicable 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 to “immediate family” 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. 
 8.3    
Beneficiaries. Notwithstanding Section 8.2, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon
the Participant’s death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant,
except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a
person other than the Participant’s spouse as his or her beneficiary with respect to more than 50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no
beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation
may be changed or revoked by a Participant at any time provided the change or revocation is filed with the Committee. 

8.4     Performance Objectives and Other Terms. The Committee, in its discretion, shall set performance objectives
or other vesting criteria which, depending on the extent to which they are met, will determine the number or value of the Awards that will be granted or paid out to the Participants. 

ARTICLE 9 
 CHANGES IN
CAPITAL STRUCTURE 
  
 9.1
    Adjustments. In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends)
of Company assets to its shareholders, or any other change affecting the shares of Shares or the share price of a Share, the Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to
reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1); (b) the terms and conditions of any outstanding Awards
(including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant or exercise price per share for any outstanding Awards under the Plan. 

  
 12 

 9.2     Corporate Transactions. Except as may otherwise be
provided in any Award Agreement or any other written agreement entered into by and between the Company and a Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Corporate Transaction, the Committee may, in its sole
discretion, provide for (i) any and all Awards outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee
shall determine, or (ii) the purchase of any Award for an amount of cash equal to the amount that could have been attained upon the exercise of such Award (and, for the avoidance of doubt, if as of such date the Committee determines in good
faith that no amount would have been attained upon the exercise of such Award, then such Award may be terminated by the Company without payment), or (iii) the replacement of such Award with other rights or property selected by the Committee in
its sole discretion or the assumption of or substitution of such Award by the successor or surviving corporation, or a Parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or (iv) payment of
such Award in cash based on the value of Shares on the date of the Corporate Transaction plus reasonable interest on the Award through the date as determined by the Committee when such Award would otherwise be vested or have been paid in accordance
with its original terms, if necessary to comply with Section 409A of the Code. 
 9.3     Outstanding Awards
– Other Changes. In the event of any other change in the capitalization of the Company or corporate change other than those specifically referred to in this Article 9, the Committee may, in its absolute discretion, make such adjustments in
the number and class of shares subject to Awards outstanding on the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights.

 9.4     No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by
reason of any subdivision or consolidation of Shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other
corporation. Except as expressly provided in the Plan or pursuant to action of the Committee under the Plan, and no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number of Shares subject to an Award or the grant or exercise price of any Award. 

ARTICLE 10 

ADMINISTRATION 
  

10.1     Committee. The Plan shall be administered by the Board or a committee of one or more members of the Board
(the “Committee”) to whom the Board shall delegate the authority to grant or amend Awards to Participants other than any of the Committee members, Independent Directors and executive officers of the Company. Reference to the
Committee shall refer to the Board in absence of the Committee. Notwithstanding the foregoing, the full Board, acting by majority of its members in office, shall conduct the general administration of the Plan if required by Applicable Laws, and with
respect to Awards granted to the Committee members, Independent Directors and executive officers of the Company and for purposes of such Awards the term “Committee” as used in the Plan shall be deemed to refer to the Board. 

  
 13 

 10.2     Action by the Committee. A majority of the Committee
shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present, and acts approved unanimously in writing all members of the Committee in lieu of a meeting, shall be deemed the acts of the
Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of a Group Entity, the Company’s independent certified public
accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 

10.3     Authority of the Committee. Subject to any specific designation in the Plan, the Committee has the
exclusive power, authority and discretion to: 
 (a)    designate Participants to receive Awards; 

(b)    determine the type or types of Awards to be granted to each Participant; 

(c)    determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

(d)    determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the
exercise price, grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, and any
provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 

(e)    determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise
price of an Award may be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 

(f)    prescribe the form of each Award Agreement, which need not be identical for each Participant; 

(g)    decide all other matters that must be determined in connection with an Award; 

(h)    establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;

 (i)    interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; 

(j)    amend terms and conditions of Award Agreements; and 

(k)    make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems
necessary or advisable to administer the Plan, including design and adopt from time to time new types of Awards that are in compliance with Applicable Laws. 

  
 14 

 10.4     Decisions Binding. The Committee’s interpretation
of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 

ARTICLE 11 
 EFFECTIVE
AND EXPIRATION DATE 
 11.1     Effective Date. The Plan shall become effective immediately prior to the
completion of the initial public offering of the Company (the “Effective Date”). 
 11.2    
Expiration Date. The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date. Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in
force according to the terms of the Plan and the applicable Award Agreement. 
 ARTICLE 12 

AMENDMENT, MODIFICATION, AND TERMINATION 

12.1     Amendment, Modification, and Termination. At any time and from time to time, the Board may terminate,
amend or modify the Plan; provided, however, that (a) to the extent necessary and desirable to comply with Applicable Laws or stock exchange rules, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such
a degree as required, unless the Company decides to follow home country practice, and (b) unless the Company decides to follow home country practice, shareholder approval is required for any amendment to the Plan that (i) increases the
number of Shares available under the Plan (other than any adjustment as provided by Article 9 or Section 3.1(a)), or (ii) permits the Committee to extend the term of the Plan or the exercise period for an Option beyond ten years from the
date of grant. 
 12.2     Awards Previously Granted. Except with respect to amendments made pursuant to
Section 12.1, no termination, amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant. 

ARTICLE 13 
 GENERAL
PROVISIONS 
 13.1     No Rights to Awards. No Participant, employee, or other person shall have any claim to
be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly. 

13.2     No Shareholders Rights. No Award gives the Participant any of the rights of a shareholder of the Company
unless and until Shares are in fact issued to such person in connection with such Award. 

  
 15 

 13.3     Taxes. No Shares shall be delivered under the Plan to
any Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the authority and
the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be
withheld with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold
Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect
to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax
liabilities applicable to the Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of
withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income. 

13.4     No Right to Employment or Services. Nothing in the Plan or any Award Agreement shall interfere with or
limit in any way the right of the Service Recipient to terminate any Participant’s employment or services at any time, nor confer upon any Participant any right to continue in the employment or services of any Service Recipient. 

13.5     Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for incentive
compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the
relevant Group Entity. 
 13.6     Indemnification. To the extent allowable pursuant to Applicable Laws, each
member of the Committee or of the Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim,
action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of
judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The
foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or
otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 13.7     Expenses.
The expenses of administering the Plan shall be borne by the Group Entities. 
  

  
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 13.8     Fractional Shares. No fractional Shares shall be issued
and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate. 

13.9     Government and Other Regulations. The obligation of the Company to make payment of awards in Shares or
otherwise shall be subject to all Applicable Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any
other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may restrict the transfer of such
Shares in such manner as it deems advisable to ensure the availability of any such exemption. 
 13.10     Governing
Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the Cayman Islands. 

13.11     Section 409A. To the extent that the Committee determines that any Award granted under
the Plan is or may become subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and the Award
Agreements shall be interpreted in accordance with Section 409A of the Code and the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulation or other guidance
that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and
related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments to the Plan and the applicable Award agreement or adopt other policies and
procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve
the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related U.S. Department of Treasury guidance. 

  
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