Document:

EX-10.3

 Exhibit 10.3 

Effective Date: 
 NON-STATUTORY
STOCK OPTION 
 Granted by Arsanis, Inc. 

Under the 2010 Special Stock Incentive Plan 

For valuable consideration, the receipt of which is hereby acknowledged, Arsanis, Inc., a Delaware corporation (hereinafter together with its
subsidiaries, where the context permits, referred to as the “Company”), hereby grants to the Holder named in Schedule A attached hereto the following Non-Statutory Stock Option (the “Option”): 

Section 1. Grant of Option. Subject to the terms and conditions hereinafter set forth, the Holder is hereby given the right
and option to purchase from the Company shares of the Company’s Common Stock, $.001 par value per share (the “Common Stock”). Schedule A attached hereto and hereby incorporated herein sets forth, with respect to the Option,
(i) its expiration date, (ii) its exercise price per share, (iii) the maximum number of shares that the Holder may purchase upon exercise hereof, and (iv) the vesting schedule. It also sets forth applicable conditions that are
incorporated herein. The Option shall terminate in all respects, and all rights and options to purchase shares hereunder shall terminate, ten years from the Effective Date set forth above. The right to purchase shares hereunder shall be
cumulative. 
 Section 2. Exercise of Option. The Option may be exercised only to the extent it has vested in accordance
with Schedule A attached hereto. Purchase of any shares hereunder shall be made by delivery to the Company of a written notice of exercise specifying the number of shares with respect to which the Option is to be exercised and the address to which
the certificate representing such shares is to be mailed, accompanied by: 
 (i) cash or a certified or bank check or postal
money order payable to the order of the Company for an amount equal to the aggregate exercise price of the part of the Option being exercised; 

(ii) with the consent of the Company, shares of Common Stock of the Company having a fair market value equal to the aggregate
exercise price of the part of the Option being exercised; 
 (iii) with the consent of the Company, a personal recourse note
issued by the Holder to the Company in a principal amount equal to such aggregate exercise price of the part of the Option being exercised and with such other terms, including interest rate and maturity, as the Company may determine in its
discretion; 
 (iv) with the consent of the Company, if the class of Common Stock is registered under the Securities Exchange
Act of 1934 at that time, subject to rules as may be established by the Board of Directors of the Company (the “Board”), a properly executed exercise notice along with irrevocable instructions to a broker to deliver promptly to the Company
cash or a check payable and acceptable to the Company for the aggregate exercise price of the part of the Option being exercised; 

 (v) with the consent of the Company, instructions to reduce the number of shares
otherwise issuable to the Holder upon the exercise of the Option by a number of shares of Common Stock having a fair market equal to the aggregate exercise price of the part of the Option being exercised; or 

(vi) with the consent of the Company, any combination of (i), (ii), (iii), (iv) and/or (v). 

For the purpose of the foregoing, the fair market value of the shares of Common Stock which may be delivered to the Company upon exercise of
the Option shall be determined in accordance with procedures adopted by Board. 
 Section 3. Conditions and Limitations.
As a condition precedent to any exercise of the Option, the Holder (or if any other individual or individuals are exercising the Option, such individual or individuals) shall deliver to the Company an investment letter in form and substance
satisfactory to the Company and its counsel which shall contain among other things a statement in writing to the following effects (to the extent then applicable): (i) that the Option is then being exercised for the account of the Holder and
only with a view to investment in, and not for, in connection with or with a view to the disposition of, the shares with respect to which the Option is then being exercised; (ii) that the Holder acknowledges that the rights of first refusal and
repurchase set forth in Section 9 hereof apply to such shares; (iii) that the Holder has been advised that Rule 144 of the Securities and Exchange Commission (the “Commission”), which permits the resale, subject to various terms
and conditions, of small amounts of “restricted securities” (as therein defined) after they have been held for a prescribed period of time, may not now apply to the Company because the Company is not now required to file, and does not
file, current reports under the Securities Exchange Act of 1934 (the “Exchange Act”), nor is there publicly available information concerning the Company substantially equivalent to that which would be available if the Company were required
to file such reports; (iv) that the Holder understands that there is no assurance that the Company will ever become a reporting company under the Exchange Act and that the Company has no obligation to the Holder to do so; (v) that the
Holder and Holder’s representatives have fully investigated the Company and the business and financial conditions concerning it and have knowledge of the Company’s then current corporate activities and financial condition; and
(vi) that the Holder believes that the nature and amount of the shares being purchased are consistent with Holder’s investment objectives, abilities and resources. The restrictions imposed by this Section and any investment representation
made pursuant to this Section shall be inoperative upon the registration with the Commission under the Securities Act of 1933, as amended (the “Securities Act”), of shares subject to the Option or acquired through the exercise of the
Option. 
 Upon the request of the Company or the managing underwriter(s), the Holder shall, in connection with any public offering
of securities of the Company, agree in writing that for a period of 180 days from the effective date of the registration statement for such offering filed with the Securities and Exchange Commission, plus such additional period, not to exceed 18
days, as may be necessary to enable the underwriter(s) to comply with Conduct Rule 2711(f) of the National Association of Securities Dealers, Inc., the Holder will not sell, make any short sale of, loan, grant any option for the purchase of, or
otherwise dispose of any shares of the Company’s common stock owned or controlled by him. It shall be a condition to any transfer of the Shares prior to an initial public offering of the Company’s common stock that the transferee agree to
be bound by the foregoing lock-up provision. 

  
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 Section 4. Delivery of Shares. Within a reasonable time following the receipt
by the Company of the written notice and payment of the Option price for the shares to be purchased thereunder and, if applicable, the investment letter referred to in Section 3, the Company will deliver or cause to be delivered to the Holder
(or if any other individual or individuals are exercising the Option, to such individual or individuals) at the address specified pursuant to Section 2 hereof a certificate or certificates for the number of shares with respect to which the
Option is then being exercised, registered in the name of the Holder (or the name or names of the individual or individuals exercising the Option, either alone or jointly with another person or persons with rights of survivorship, as the individual
or individuals exercising the Option shall prescribe in writing to the Company); provided, however, that such delivery shall be deemed effected for all purposes when a stock transfer agent shall have deposited such certificate or certificates in the
United States mail, addressed to the Holder (or such individual or individuals) at the address so specified; and provided further that if any law, regulation or order of the Commission or other body having jurisdiction in the premises shall require
the Company or the Holder (or the individual or individuals exercising the Option) to take any action in connection with the sale of the shares then being purchased, then, subject to the other provisions of this Section 4, the date on which
such sale shall be deemed to have occurred and the date for the delivery of the certificates for such shares shall be extended for the period necessary to take and complete such action, it being understood that the Company shall have no obligation
to take and complete any such action. 
 Section 5. Adjustments Upon Changes in Capitalization. The existence of
the Option shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or
any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

If, through or as a result of any merger, consolidation, sale of all or substantially all of the assets of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, (i) the outstanding shares of Common Stock are increased, decreased or exchanged for a different number or kind of shares or
other securities of the Company, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock or other securities, an appropriate
and proportionate adjustment shall be made in (x) the number and kind of shares or other securities subject to the Option and (y) the price for each share or other security subject to the Option, so that upon exercise of the Option, in
lieu of the shares of Common Stock for which the Option was then exercisable, the Holder shall be entitled to receive, for the same aggregate cash consideration, the same total number and kind of shares or other securities, cash or property that the
owner of an equal number of outstanding shares of Common Stock immediately prior to the event requiring adjustment would own as a result of the event. If any such event shall occur, appropriate adjustment shall also be made in the application

  
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of the provisions of this Section 5 and Section 6 with respect to the Option and the rights of the Holder after the event so that the provisions of such Sections shall be applicable
after the event and be as nearly equivalent as practicable in operation after the event as they were before the event. 
 Any adjustments
under this Section 5 will be made by the Board, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. No fractional shares will be issued under the Option on account of
any such adjustments. 
 Except as hereinbefore expressly provided, the issue by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, for cash or property, or for labor or services, either upon direct sale or upon the exercise of rights or warrants to subscribe therefor, or upon conversion of shares of obligations of the Company
convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock then subject to the Option. 

Section 6. Effect of Certain Transactions. If the Company is a party to a merger or reorganization with one or more other
corporations or other entities, whether or not the Company is the surviving or resulting entity, or if the Company consolidates with or into one or more other corporations or other entities, or if the Company is liquidated or sells or otherwise
disposes of substantially all of its assets (each hereinafter referred to as a “Transaction”), in any case while this Option remains outstanding, the Board or the board of directors of any entity assuming the obligations of the Company
may, in its discretion, 
 (i) provide that after the effective date of such Transaction the Option shall remain
outstanding and shall be exercisable for shares of Common Stock or, if applicable, shares of such stock or other securities, cash or property as the holders of shares of Common Stock received pursuant to the terms of such Transaction; 

(ii) accelerate the time for exercise of the Option, so that from and after a date prior to the effective date of such
Transaction the Option shall be exercisable in full; 
 (iii) cancel the Option as of the effective date of the Transaction,
provided that (a) notice of such cancellation shall have been given to the Holder and (b) the Holder shall have the right to exercise the Option to the extent the same is then exercisable or, if the Board shall have accelerated the time
for exercise of the Option, in full during the ten-day period preceding the effective date of the Transaction; or 
 (iv)
determine that in the event of a Transaction under the terms of which holders of Common Stock of the Company receive upon consummation thereof a cash payment for each share surrendered (the “Transaction Price”), the Holder shall be
provided a cash payment equal to the difference between (a) the Transaction Price times the number of shares of Common Stock subject to the Option (to the extent then exercisable at an exercise price that is not in excess of the Transaction
Price) and (b) the aggregate exercise price for all such shares of Common Stock subject to the Option, in exchange for the termination of the Option. 

  
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 Section 7. Rights of Holder. No person shall, by virtue of the granting of the
Option to the Holder, be deemed to be a holder of any shares purchasable under the Option or to be entitled to the rights or privileges of a holder of such shares unless and until the Option has been exercised with respect to such shares and they
have been issued pursuant to that exercise of the Option. 
 The granting of the Option shall not impose upon the Company any
obligations to employ or to continue to employ the Holder or, if applicable, to continue the Holder as a director of, or consultant to, the Company; and the right of the Company to terminate the employment or other service of the Holder shall not be
diminished or affected by reason of the fact that the Option has been granted to the Holder. 
 Nothing herein contained shall impose any
obligation upon the Holder to exercise the Option. 
 Section 8. Transfer and Termination. The Option is not transferable
by the Holder otherwise than by will or the laws of descent and distribution. 
 The Option is exercisable, during the Holder’s
lifetime, only by him, and by him only while he is providing services to the Company, whether as an employee, director or consultant, except that in the event that the Holder’s services with the Company terminate for any reason other than
death, disability or termination for Cause, the Holder shall have the right to exercise the Option within a period of ninety (90) days after said termination (but not later than the expiration date of the Option) with respect to the shares
which were purchasable by him by exercise of the Option at the time of such termination of services. The Holder shall be deemed to be providing services for the Company, for purposes of this Option, during any period in which the Holder is providing
services as an employee, director or consultant for the Company or any subsidiary of the Company. 
 In the event of the permanent and total
disability or the death of the Holder prior to termination of the Holder’s services for the Company or a parent or subsidiary of the Company and before the date of expiration of the Option, the Holder, or in the event of death, his executors,
administrators, heirs or legatees, as the case may be, shall have the right to exercise the Option at any time within one-hundred eighty (180) days after said disability or death (but not after the termination date of the Option) with respect
to the shares which were purchasable by the Holder at the date of his disability or death. The Holder shall be considered permanently and totally disabled if the Holder is disabled within the meaning of Section 22(e)(3) of the Internal Revenue
Code of 1986, as amended, or any successor provision. 
 If the Holder’s services for the Company are terminated by the Company for
Cause, the Option shall immediately terminate and shall thereafter be of no further force and effect. The term “Cause” shall mean (a) any material breach by the Holder of any agreement to which the Holder and the Company are both
parties, (b) any act (other than retirement) or omission to act by the Holder which may have a material and adverse effect on the Company’s business or on the Holder’s ability to perform services for the Company, including, without
limitation, the commission of any crime (other than minor traffic violations), or (c) any material misconduct or material neglect of duties by the Holder in connection with the business or affairs of the

  
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Company or any parent, subsidiary or affiliate of the Company. The Board shall have sole authority and discretion to determine whether the Holder’s services have been terminated for Cause.

 Section 9. Right of First Refusal. Prior to the effective date of a registration statement under the Securities Act
covering any shares of the Company’s Common Stock and until such time as the Company shall have effected a public offering of its Common Stock, in the event that, at any time when the Holder (which term for purposes of this Section 9 shall
mean the Holder and his executors, administrators and any other person to whom this may be transferred by will or the laws of descent and distribution) is permitted to do so, the Holder desires to sell, assign or otherwise transfer any of the shares
issued upon the exercise of the Option, the Holder shall first offer such shares to the Company by giving written notice of the Holder’s desire so to sell, assign or transfer such shares. The notice shall state the number of shares offered, the
name of the person or persons to whom it is proposed to sell, assign or transfer such shares and the price and other terms at which such shares are intended to be sold, assigned or transferred. Such notice shall constitute an offer to the Company
for the Company to purchase the number of shares set forth in the notice at a price per share equal to the price stated therein. The Company may accept the offer as to all, but not less than all, such shares by notifying the Holder in writing within
30 days after receipt of such notice of its acceptance of the offer. If the offer is accepted, the Company shall have 60 days within which to purchase the offered shares at a price per share as aforesaid. If within the applicable time periods the
Holder does not receive notice of the Company’s intention to purchase the offered shares, or if payment in full of the purchase price is not made by the Company, the offer shall be deemed to have been rejected and the Holder may transfer title
to such shares within 90 days from the date of the Holder’s written notice to the Company of the Holder’s intention to sell, but such transfer shall be made only to the proposed transferee and at the proposed price and terms stated in such
notice and after compliance with any other provisions of the Option applicable to the transfer of such shares. Shares that are so transferred to such transferee shall remain subject to the rights of the Company set forth in this Section 9. No
sale, assignment, pledge or transfer of any of the shares covered by the Option shall be effective or given effect on the books of the Company unless all of the applicable provisions of this Section 9 have been duly complied with, and the
Company may inscribe on the face of any certificate representing any of such shares a legend referring to the provisions of this Section. If any transfer of shares is made or attempted in violation of the foregoing restrictions, or if shares are not
offered to the Company as required hereby, the Company shall have the right to purchase such shares from the owner thereof or his transferee at any time before or after the transfer, as herein provided. In addition to any other legal or equitable
remedies which it may have, the Company may enforce its rights by actions for specific performance (to the extent permitted by law) and may refuse to recognize any transferee as one of its stockholders for any purpose, including, without limitation,
for purposes of dividend and voting rights, until all applicable provisions hereof have been complied with. 
 For purposes of the
Right of First Refusal pursuant to this Section 9, the term “shares” shall include, without limitation, all new, substituted or additional securities or other property issued to the Holder by reason of his ownership of Common Stock
pursuant to the exercise of the Option, in connection with any stock dividend, liquidating dividend, stock split or other change in the character or amount of any of the outstanding securities of the Company, or any consolidation, merger or sale of
all or substantially all of the assets of the Company. 

  
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 Any certificate representing shares of stock subject to the provisions of this Section 9 may
have endorsed thereon one or more legends, in addition to any other legends deemed appropriate by the Company, substantially as follows: 

“Any disposition of any interest in the securities represented by this certificate is subject to restrictions, and the securities
represented by this certificate are subject to certain options, contained in a certain agreement between the record holder hereof and the Company, a copy of which will be mailed to any holder of this certificate without charge upon receipt by the
Company of a written request therefor.” 
 The restrictions imposed by this Section 9 shall terminate in all respects upon the
effective date of a registration statement under the Securities Act covering the Company’s Common Stock. 
 Section 10.
Notice. Any notice to be given to the Company hereunder shall be deemed sufficient if addressed to the Company and delivered to the office of the Company, Arsanis, Inc., 7 Lucent Drive, Lebanon, NH 03766, attention of the president, or such
other address as the Company may hereafter designate. 
 Any notice to be given to the Holder hereunder shall be deemed sufficient if
addressed to and delivered in person to the Holder at his address furnished to the Company or when deposited in the mail, postage prepaid, addressed to the Holder at such address. 

Section 11. Withholding of Taxes. The Holder agrees that the Company may withhold from amounts due to the Holder from the
Company, the appropriate amount of federal, state and local withholding taxes attributable to the Holder’s exercise of this Option. 

At the Holder’s election, with the consent of the Company, the amount required to be withheld may be satisfied, in whole or in part, by
(i) authorizing the Company to withhold from shares of Common Stock to be issued pursuant to the exercise of this Option a number of shares with an aggregate fair market value equal to the withholding amount due with respect to such exercise or
(ii) transferring to the Company a number of shares of Common Stock with an aggregate fair market value equal to the withholding amount so due. 

The Holder further agrees that, if the Company does not withhold an amount due to the Holder from the Company sufficient to satisfy the
Company’s withholding obligation, the Holder will reimburse the Company, on demand, in cash for the amount underwithheld. 

Section 12. Government and Other Regulations; Governing Law. The Option is subject to all laws, regulations and orders of any
governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Holder agrees that he will not exercise the Option granted hereby nor will the Company be obligated to issue any shares of stock hereunder
if the exercise thereof or the issuance of such shares, as the case may be, would constitute a violation by the Holder or the Company of any such law, regulation or order or any provision thereof. Without limiting the generality of the foregoing,
the Company shall not be obligated to issue any such shares if in the Company’s sole judgment to do so would cause the Company or such issue not to be in compliance with the requirements of the Securities

  
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Act. The Company shall not be obligated to take any affirmative action in order to cause the exercise of the Option or the issuance of shares pursuant hereto to comply with any such law,
regulation, order or provision. 
 The Option is and shall be subject in every respect to the provisions of the Company’s 2010 Special
Stock Incentive Plan, as amended from time to time, which is incorporated herein by reference and made a part hereof. The Holder hereby accepts the Option subject to all the terms and provisions of the Plan and agrees that (a) in the event of
any conflict between the terms hereof and those of the Plan, the latter shall prevail, and (b) all decisions under and interpretations of the Plan by the Board or the Committee (as defined in the Plan) shall be final, binding and conclusive
upon the Holder and his heirs, legal representatives, successors and permitted assigns. 
 The Option shall be governed by and construed in
accordance with the laws of the State of Delaware. 
 Section 13. Effective Date. The Option shall be effective on the Effective
Date set forth on page 1 hereof. 
 IN WITNESS WHEREOF, the parties have executed the Option as of the Effective Date. 

 

							
		 		 	Arsanis, Inc.
				
		 		 	By:	 	  

		 		 		 	Name
		 		 		 	Title
				
	Acknowledged and accepted:	 		 		 	
				
	  
	 		 		 	
	Holder	 		 		 	

  
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 SCHEDULE A 

Arsanis, Inc. 
 Non-Statutory
Stock Option Granted Under the 
 2010 Special Stock Incentive Plan 
  

	1.	Name of Holder: 

  

	2.	Date of Grant: 

  

	3.	“Vesting Start Date”: 

  

	4.	Maximum Number of Shares for which the Option is Exercisable (“Total Shares”): 

  

	5.	Exercise (purchase) Price per Share (“Option Price”): 

  

	6.	Expiration Date of Option: 

  

	7.	Vesting Schedule: 

  

	8.	All shares purchased upon exercise of the Option are subject to the rights of the Company to repurchase such shares as set forth in Section 9 of the Option, to the agreement to lock up set forth in Section 3
of the Option and to the other terms of the Option and the Plan. 

 * * * 

  
 - 9 -EX-10.4

 Exhibit 10.4 

ARSANIS, INC. 
 2011
Stock Incentive Plan 
 (As amended through April 23, 2017) 

1. Purpose. The purpose of this stock incentive plan (the “Plan”) is to secure for Arsanis, Inc., a Delaware
corporation (the “Company”), and its stockholders the benefits arising from capital stock ownership by employees, officers and directors of, and consultants or advisors to, the Company and its parent and subsidiary corporations who are
expected to contribute to the Company’s future growth and success. Under the Plan recipients may be awarded (i) Options (as defined in Section 2.1) to purchase authorized but unissued shares of the Company’s common stock, $.001
par value per share (“Common Stock”), and (ii) shares of the Company’s Common Stock (“Restricted Stock Awards”). Except where the context otherwise requires, the term “Company” shall include any parent and all
present and future subsidiaries of the Company as defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended or replaced from time to time (the “Code”). Those provisions of the Plan which make express reference
to Section 422 shall apply only to Incentive Stock Options (as that term is defined in the Plan). 
 2. Types of Awards and
Administration. 
 2.1 Options. Options granted pursuant to the Plan (“Options”) shall be authorized by action of the
Board of Directors of the Company (the “Board of Directors”) and may be either incentive stock options (“Incentive Stock Options”) meeting the requirements of Section 422 of the Code or non-statutory Options which are not
intended to meet the requirements of Section 422 of the Code. All Options when granted are intended to be non-statutory Options, unless the applicable Option Agreement (as defined in Section 5.1) explicitly states that the Option is
intended to be an Incentive Stock Option. If an Option is intended to be an Incentive Stock Option, and if for any reason such Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such
nonqualification, such Option (or portion thereof) shall be regarded as a non-statutory Option appropriately granted under the Plan provided that such Option (or portion thereof) otherwise meets the Plan’s requirements relating to non-statutory
Options. The vesting of Options may be conditioned upon the completion of a specified period of employment with the Company and/or such other conditions or events as the Board of Directors may determine. Unless otherwise expressly provided in any
Option granted under the Plan, the unvested portion of such Option (“Unvested Portion”) may be exercised by the holder of such Option if such holder simultaneously enters into an agreement satisfactory to the Company in its sole discretion
that subjects the shares thereby acquired to vesting under the same terms and over the same period as such Unvested Portion would have vested had it not been exercised. 

2.2 Restricted Stock Awards. The Board of Directors in its discretion may grant Restricted Stock Awards, entitling the recipient to
acquire, for a purchase price, if any, determined by the Board of Directors, shares of Common Stock subject to such restrictions and conditions as the Board of Directors may determine at the time of grant (“Restricted Stock”), including
continued employment and/or achievement of pre-established performance goals and objectives. 

 2.3 Administration. The Plan shall be administered by the Board of Directors of the
Company, whose construction and interpretation of the terms and provisions of the Plan shall be final and conclusive. The Board of Directors may in its sole discretion authorize issuance of Restricted Stock and grant Options to purchase shares of
Common Stock, and issuance of shares upon exercise of such Options as provided in the Plan. The Board shall have authority, subject to the express provisions of the Plan, to construe the respective Restricted Stock Agreements (as defined in
Section 5.2), Option Agreements and the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan, to determine the terms and provisions of the respective Restricted Stock Agreements and Option Agreements, and to make all
other determinations in the judgment of the Board of Directors necessary or desirable for the administration of the Plan. The Board of Directors may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any
Restricted Stock Agreement or Option Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency. No director or person acting pursuant to authority
delegated by the Board of Directors shall be liable for any action or determination under the Plan made in good faith. The Board of Directors may, to the full extent permitted by or consistent with applicable laws or regulations (including, without
limitation, applicable state law), delegate any or all of its powers under the Plan to a committee (the “Committee”) appointed by the Board of Directors, and if the Committee is so appointed, to the extent of such delegation, all
references to the Board of Directors in the Plan shall mean and relate to such Committee. 
 3. Eligibility. Options may be
granted, and Restricted Stock may be issued, to persons who are, at the time of such grant or issuance, employees, officers or directors of, or consultants or advisors to, the Company; provided, that the class of persons to whom
Incentive Stock Options may be granted shall be limited to employees of the Company.  
 4. Stock Subject to Plan.
Subject to adjustment as provided in Section 14 below, the maximum number of shares of Common Stock which may be issued under the Plan is 4,433,620 shares. If an Option granted hereunder shall expire or terminate for any reason without having
been exercised in full, the unpurchased shares subject to such Option shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. If shares of Restricted Stock issued hereunder shall be forfeited to, or otherwise
repurchased by, the Company pursuant to a Restricted Stock Agreement, such repurchased shares shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. If shares issued are tendered to the Company in payment of
the exercise price of an Option, such tendered shares shall again be available for subsequent Option grants or Restricted Stock Awards under the Plan. 

5. Forms of Restricted Stock Agreements and Option Agreements. 

5.1 Option Agreement. As a condition to the grant of an Option, each recipient of an Option shall execute an option agreement
(“Option Agreement”) in such form not inconsistent with the Plan as may be approved by the Board of Directors. Such Option Agreements may differ among recipients. 

  
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 5.2 Restricted Stock Agreement. As a condition to the issuance of Restricted Stock, each
recipient thereof shall execute an agreement (“Restricted Stock Agreement”) in such form not inconsistent with the Plan as may be approved by the Board of Directors. Such Restricted Stock Agreements may differ among recipients and need not
be entitled “Restricted Stock Agreements.” 
 5.3 “Lock-Up” Agreement. Upon the request of the Company or the
managing underwriter(s) of any underwritten offering of the Company’s securities, the holder of any Option or the purchaser of any Restricted Stock shall agree in writing that for a period of 180 days from the effective date of the registration
statement for such offering filed with the Securities and Exchange Commission, plus such additional period, not to exceed 18 days, as may be necessary to enable the underwriter(s) to comply with Conduct Rule 2711(f) of the National Association of
Securities Dealers, Inc., the holder or purchaser will not sell, make any short sale of , loan, grant any option for the purchase of, or otherwise dispose of any shares of Common Stock owned or controlled by him or her. It shall be a condition to
any transfer of Common Stock acquired pursuant to the Plan, upon exercise of an Option granted under the Plan or otherwise, that the transferee agree to be bound by the foregoing lock-up provision. 

6. Purchase Price. 

6.1 General. The purchase price per share of Restricted Stock, if any, shall be determined by the Board of Directors. The purchase
price per share of stock deliverable upon exercise of an Incentive Stock Option shall not be less than 100% of the fair market value of such stock at the time of grant of such Option, as determined by the Board of Directors, or less than 110% of
such fair market value in the case of certain Incentive Stock Options described in Section 11.2. Non-statutory Options issued at less than fair market value shall comply with the provisions of Section 409A of the Code. 

6.2 Payment of Purchase Price. Option Agreements may provide for the payment of the exercise price of any Options, by one of the
following methods: 
 (i) by delivery of cash or a certified or bank check or postal money order payable to the order of the
Company in an amount equal to the aggregate exercise price of the Options being exercised; 
 (ii) by delivery to the Company
of shares of Common Stock having a fair market value equal in amount to the aggregate exercise price of the Options being exercised; 

(iii) a personal recourse note issued by the optionee to the Company in a principal amount equal to the aggregate exercise
price of the Options being exercised; and with such other terms, including interest rate and maturity, as the Company may determine in its discretion; 

(iv) if the class of Common Stock is registered under the Securities Exchange Act of 1934 at such time, subject to rules as may
be established by the Board of Directors, by delivery to the Company of a properly executed exercise notice along with irrevocable instructions to a broker to deliver promptly to the Company cash or a check payable and acceptable to the Company in
the amount of the aggregate exercise price of the Options being exercised; 

  
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 (v) by reducing the number of Option shares otherwise issuable to the optionee
upon exercise of the Option by a number of shares of Common Stock having a fair market value equal to such aggregate exercise price of the Options being exercised; or 

(vi) by any combination of such methods of payment. 

The fair market value of any shares of Common Stock or other non-cash consideration which may be delivered upon exercise of an Option shall be
determined by the Board of Directors. Restricted Stock Agreements may provide for the payment of any purchase price in any manner approved by the Board of Directors at the time of authorizing the issuance thereof. 

7. Option Period. Each Option and all rights thereunder shall expire on such date as shall be set forth in the applicable Option
Agreement, provided that, in the case of an Incentive Stock Option, such date shall not be later than 10 years after the date on which the Option is granted (or five years in the case of Options described in Section 11.2),
and, in the case of non-statutory Options, not later than 10 years after the date on which the Option is granted, and, in either case, shall be subject to earlier termination as provided in the Plan or the related Option Agreement. 

8. Exercise of Options. Each Option shall be exercisable either in full or in installments at such time or times and during such
period as shall be set forth in the Option Agreement evidencing such Option, subject to the provisions of the Plan. 
 9.
Nontransferability of Options. No Option shall be assignable or transferable by the person to whom it is granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution. During the life of an
optionee, an Option held by him or her shall be exercisable only by the optionee.  
 10. Effect of Termination. No
Incentive Stock Option may be exercised unless, at the time of such exercise, the optionee is, and has continuously since the date of grant of his or her Incentive Stock Option been, employed by the Company, except that, unless the Option Agreement
expressly provides otherwise:  
 10.1 the Incentive Stock Option may be exercised within the period of ninety (90) days after
the date the optionee’s employment with the Company terminates other than for death, disability or termination for Cause (as hereinafter defined); 

10.2 if the optionee dies while in the employ of the Company, the Incentive Stock Option may be exercised by the person to whom it is
transferred by will or the laws of descent and distribution within the period of one-hundred eighty (180) days after the date of death; and 

  
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 10.3 if the optionee becomes disabled (within the meaning of Section 22(e)(3) of the Code or
any successor provision thereto) while in the employ of the Company, the Incentive Stock Option may be exercised within the period of one-hundred eighty (180) days after the date the optionee ceases to be such an employee because of such
disability; 
 provided, however, that in no event may any Incentive Stock Option be exercised after the expiration date of the Incentive Stock
Option. For all purposes of the Plan and any Incentive Stock Option granted hereunder, “employment” shall be defined in accordance with the provisions of Section 1.421-7(h) of the Income Tax Regulations (or any successor regulations).
 
 If an optionee’s employment with the Company is terminated by the Company for Cause, each Incentive Stock Option held by
such optionee shall immediately terminate and shall thereafter be of no further force and effect. The term “Cause” shall mean (a) any material breach by an optionee of any agreement to which an optionee and the Company are both
parties, (b) any act (other than retirement) or omission to act by an optionee which may have a material and adverse effect on the Company’s business or on an optionee’s ability to perform services for the Company, including, without
limitation, the commission of any crime (other than minor traffic violations), or (c) any material misconduct or material neglect of duties by an optionee in connection with the business or affairs of the Company or any parent, subsidiary or
affiliate of the Company. The Board of Directors shall have sole authority and discretion to determine whether an optionee’s employment has been terminated for Cause. 

A non-statutory Option granted to an employee shall be subject to the foregoing provisions of this Section 10 as if it were an Incentive
Stock Option, but a non-statutory Option may also be exercised so long as the optionee maintains a relationship with the Company as a director, consultant or adviser, unless the Option Agreement provides otherwise. 

Whether authorized leave of absence or absence on military or government service shall constitute termination of the employment relationship
between the Company and an optionee shall be determined by the Board of Directors at the time thereof. 
 An employment relationship between
the Company and an optionee shall be deemed to exist during any period in which the optionee is employed by the Company or by any parent or subsidiary of the Company. 

11. Incentive Stock Options. Options which are intended to be Incentive Stock Options shall be subject to the following
additional terms and conditions: 
 11.1 Express Designation. All Incentive Stock Options shall, at the time of grant, be
specifically designated as such in the Option Agreement covering such Incentive Stock Options. 
 11.2 10% Stockholder. If any
employee to whom an Incentive Stock Option is to be granted is, at the time of the grant of such Option, the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company (after taking into account
the attribution of stock ownership rules of Section 424(d) of the Code), then the following special provisions shall be applicable to the Incentive Stock Option granted to such individual: 

  
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 11.2.1 the purchase price per share of the Common Stock subject to such Incentive Stock Option
shall not be less than 110% of the fair market value of one share of Common Stock at the time of grant; and 
 11.2.2 the option exercise
period shall not exceed five years from the date of grant. 
 11.3 Dollar Limitation. For so long as the Code shall so provide,
Options granted to any employee under the Plan (and any other incentive stock option plans of the Company) which are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent that such Options, in the
aggregate, become exercisable for the first time in any one calendar year for shares of Common Stock with an aggregate fair market value (determined as of the respective date or dates of grant) of more than $100,000. 

12. Additional Provisions. 

12.1 Additional Provisions. The Board of Directors may, in its sole discretion, include additional provisions in Restricted Stock
Agreements and Option Agreements, including, without limitation, restrictions on transfer, rights of the Company to repurchase shares of Restricted Stock or shares of Common Stock acquired upon exercise of Options, commitments to pay cash bonuses,
to make, arrange for or guaranty loans or to transfer other property to optionees upon exercise of Options; provided that such additional provisions shall not be inconsistent with any other term or condition of the Plan and such additional
provisions shall not be such as to cause any Incentive Stock Option to fail to qualify as an Incentive Stock Option within the meaning of Section 422 of the Code. 

12.2 Acceleration, Extension, Etc. The Board of Directors may, in its sole discretion, (i) accelerate the period or periods in
which all Options, or any particular Option, may be exercised, (ii) extend the periods during which all Options, or any particular Option, may be exercised to the extent not inconsistent with Section 409A of the Code, or
(iii) accelerate the vesting of any or all Restricted Stock Awards. 
 13. Rights as a Stockholder. The holder of an
Option shall have no rights as a stockholder with respect to any shares covered by the Option (including, without limitation, any rights to vote or to receive dividends or non-cash distributions with respect to such shares) until the date of issue
of a stock certificate to him or her for such shares. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 

14. Adjustment Provisions for Mergers, Reorganizations, Recapitalizations and Other Transactions. 

14.1 General. If, through or as a result of any merger, consolidation, sale of all or substantially all of the assets of the Company,
reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, (i) the outstanding shares of Common Stock are increased, decreased or exchanged for a different number or kind
of shares or other securities of the Company or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such

  
 6 

 
shares of Common Stock or other securities, an appropriate and proportionate adjustment shall be made in (x) the maximum number and kind of shares reserved for issuance under the Plan,
(y) the number and kind of shares or other securities subject to any then outstanding Options, and (z) the price for each share or other security subject to any then outstanding Options, so that upon exercise of such Options, in lieu of
the shares of Common Stock for which such Options were then exercisable, the relevant optionee shall be entitled to receive, for the same aggregate consideration, the same total number and kind of shares or other securities, cash or property that
the owner of an equal number of outstanding shares of Common Stock immediately prior to the event requiring adjustment would own as a result of the event. If any such event shall occur, appropriate adjustment shall also be made in the application of
the provisions of this Section 14 and Section 15 with respect to Options and the rights of optionees after the event so that the provisions of such Sections shall be applicable after the event and be as nearly equivalent as practicable in
operation after the event as they were before the event. 
 14.2 No Adjustment in Certain Cases. Except as hereinbefore expressly
provided, the issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, for cash or property or for labor or services, either upon direct sale or upon the exercise of rights or warrants to
subscribe therefor, or upon conversion of shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of
Common Stock then subject to outstanding options. 
 14.3 Board Authority to Make Adjustments. Any adjustments under this
Section 14 will be made by the Board of Directors, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. No fractional shares will be issued under the Plan on account of
any such adjustments. 
 15. Effect of Certain Transactions. 

If the Company is a party to a merger or reorganization with one or more other corporations or other entities, whether or not the Company is
the surviving or resulting entity, or if the Company consolidates with or into one or more other corporations or other entities, or if the Company is liquidated or sells or otherwise disposes of substantially all of its assets (each hereinafter
referred to as a “Transaction”), in any case while any Options remain outstanding, the Board of Directors or the board of directors (or similar governing body) of any entity assuming the obligations of the Company may, in its discretion,
as to some or all outstanding Options (and need not take the same action as to each such Option) 
 (i) provide that after
the effective date of such Transaction the Options shall remain outstanding and shall be exercisable for shares of Common Stock or, if applicable, shares of such stock or other securities, cash or property as the holders of shares of Common Stock
received pursuant to the terms of such Transaction; 
 (ii) accelerate the time for exercise of the Options, so that from and
after a date prior to the effective date of such Transaction such Options shall be exercisable in full; 

  
 7 

 (iii) cancel the Options as of the effective date of the Transaction, provided
that (a) notice of such cancellation shall have been given to the relevant optionee and (b) such optionee shall have the right to exercise such Options to the extent the same is then exercisable or, if the Board shall have accelerated the
time for exercise of such Options, in full during the ten-day period preceding the effective date of the Transaction; or 

(iv) determine that in the event of a Transaction under the terms of which holders of Common Stock of the Company receive upon
consummation thereof a cash payment for each share surrendered (the “Transaction Price”), an optionee holding an Option shall be provided a cash payment equal to the difference between (a) the Transaction Price times the number of
shares of Common Stock subject to such Option (to the extent then exercisable at an exercise price that is not in excess of the Transaction Price) and (b) the aggregate exercise price for all such shares of Common Stock subject to such Option,
in exchange for the termination of such Option. 
 15.1 Substitute Options. The Company may grant Options in substitution for Options
held by employees of another corporation who become employees of the Company, or a subsidiary of the Company, as the result of a merger or consolidation of the employing corporation with the Company or a subsidiary of the Company, or as a result of
the acquisition by the Company, or one of its subsidiaries, of property or stock of the employing corporation. The Company may direct that substitute Options be granted on such terms and conditions as the Board of Directors considers appropriate in
the circumstances. 
 15.2 Restricted Stock. In the event of a business combination or other transaction of the type detailed in
Section 15.1, any securities, cash or other property received in exchange for shares of Restricted Stock shall continue to be governed by the provisions of any Restricted Stock Agreement pursuant to which they were issued, including any
provision regarding vesting, and such securities, cash, or other property may be held in escrow on such terms as the Board of Directors may direct, to insure compliance with the terms of any such Restricted Stock Agreement. 

15.3 Acceleration of Vesting. Unless an Option granted hereunder or an agreement relating to Restricted Stock otherwise provides, upon
a Change of Control of the Company, any portion of any Option, and any Restricted Stock, that is unvested shall thereafter vest at the rate of one-twelfth (1/12) thereof at the end of each successive 30-day period. In addition, if, on or before
the first anniversary of a Change of Control of the Company, the employment or consulting relationship of the holder of any Option or the purchaser of any Restricted Stock is terminated without Cause, or if the employee resigns or the consultant
terminates the consulting relationship with the Company for Good Reason, any Option held by the employee or consultant shall become fully-vested and exercisable in full and any shares of Restricted Stock held by the employee or consultant shall
become fully-vested and no longer subject to forfeiture or repurchase by the Company. For the purpose of this Section 15.3: 
 15.3.1
“Change of Control” shall mean the Company’s adoption of any plan of liquidation providing for distribution of all or substantially all of its assets; or the Company’s sale of all or substantially all of its assets or issued and
outstanding capital stock; or the Company’s combination with one or more other corporations or business entities such that, immediately after the combination, the stockholders of the Company immediately before the combination hold, directly or
indirectly, 50% or less of the voting stock of the combined companies. For clarity, the parties agree that neither (i) the sale of shares of stock by the Company in exchange for cash in a venture capital or other similar equity financing nor
(ii) the conversion of the Company into a limited liability company (or similar restructuring) shall constitute a Change in Control. 

  
 8 

 15.3.2 “Cause” means occurrence of any one or more of the following with respect to a
person: (i) the person has been convicted of, or has plead guilty or nolo contendere to, any felony or a crime involving moral turpitude; (ii) the person has committed any fraud, embezzlement or knowing misappropriation of funds against
the Company or intentional act of dishonesty materially detrimental to the Company; (iii) the person has continued to fail or refuse to perform the reasonable and lawful duties assigned to him or her by the Company’s Board of Directors in
good faith in a timely manner after written notice thereof from the Company which generally outlines the steps to be taken by the person in order to cure the breach, which breach continues for a period of thirty (30) days after written notice
from the Company describing the breach and proposed cure methods in reasonable detail; (iv) the person has engaged in misconduct which would cause the Company to violate any state or federal law relating to sexual harassment or race, age, sex
or other prohibited discrimination, or any intentional violation of any written policy of the Company adopted in respect to any such law; or (v) the person has engaged in conduct which the person knows or reasonably should have known causes the
Company to violate applicable law. 
 15.3.3 “Good Reason” means, with respect to a person, termination of his or her employment
or consultancy relationship with the Company because of (i) without the person’s consent, the relocation by the Company of the person’s principal place of employment or performance of consultancy services, as applicable, by more than
50 miles from his or her then-current place of employment or performance of consultancy services for the Company, (ii) without the person’s consent, a material adverse change by the Company in the person’s duties, authority or
responsibilities which causes the person’s position with the Company to become of less responsibility or authority than the person’s then-current position, provided that such change is not in connection with a termination of the
person’s employment or consultancy relationship with the Company, (iii) without the person’s consent, the assignment to the person of duties not commensurate or consistent with the person’s then-current position or consulting
agreement, or (iv) without the person’s consent and solely to the extent that the person is then-employed by the Company, a reduction in the person’s base salary, target bonus or other benefits (other than a reduction in benefits
commensurate with reductions for all executive officers). 
 15.4 Drag Along Right. Any holder of Common Stock purchased upon
exercise of an Option or pursuant to a Restricted Stock Agreement (such stock referred to collectively as “Shares,” and each holder, a “Holder of Shares”) that is not otherwise a party to that certain Second Amended and Restated
Stockholders’ Agreement dated as of April 12, 2016 by and among the Company and the other parties thereto, as the same may be amended from time to time (the “Stockholders’ Agreement”)) shall be subject to Section 2 of the
Stockholders’ Agreement for so long as such Stockholders’ Agreement remains in effect and such Section 2 of the Stockholders Agreement is hereby incorporated by reference and made a part of the Plan. 

  
 9 

 16. No Special Employment Rights. Nothing contained in the Plan or in any Option
Agreement or Restricted Stock Agreement shall confer upon any optionee or recipient of a Restricted Stock Award any right with respect to the continuation of his or her employment by the Company or interfere in any way with the right of the Company
at any time to terminate such employment or to increase or decrease his or her compensation. 
 17. Other Employee
Benefits. The amount of any compensation deemed to be received by an employee as a result of the issuance of shares of Restricted Stock or the grant or exercise of an Option or the sale of shares received in connection with a Restricted Stock
Award or any such exercise will not constitute compensation with respect to which any other employee benefits of such employee are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, life insurance or salary
continuation plan, except as otherwise specifically provided in such other plan or as otherwise specifically determined by the Board of Directors. 

18. Amendment and Termination of the Plan. 

18.1 The Board of Directors may at any time, and from time to time, modify or amend the Plan in any respect or terminate the Plan. If
stockholder approval is not obtained within twelve months after any amendment increasing the number of shares authorized under the Plan or changing the class of persons eligible to receive Incentive Stock Options under the Plan, no Options granted
pursuant to such amendments shall be deemed to be Incentive Stock Options and no Incentive Stock Options shall be issued pursuant to such amendments thereafter. 

18.2 The termination or any modification or amendment of the Plan shall not, without the consent of an optionee, affect his or her rights
under an Option previously granted to him or her. With the consent of the recipient of Restricted Stock or optionee affected, the Board of Directors may amend outstanding Restricted Stock Agreements or Option Agreements in a manner not inconsistent
with the Plan. The Board of Directors shall have the right to amend or modify the terms and provisions of the Plan and of any outstanding Incentive Stock Options to the extent necessary to qualify any or all such Options for such favorable federal
income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under Section 422 of the Code. 

19. Withholding. The Company shall have the right to deduct from payments of any kind otherwise due to the optionee or recipient
of Restricted Stock any federal, state or local taxes of any kind required by law to be withheld with respect to issuance of any shares of Restricted Stock or shares issued upon exercise of Options. In addition, prior to delivery of any Common Stock
pursuant to the terms of this Plan, the Company has the right to require that the optionee or recipient of Restricted Stock remit to the Company an amount sufficient to satisfy any tax withholding obligation.  

  
 10 

 Subject to the prior approval of the Company, which may be withheld by the Company in its sole
discretion, the obligor may elect to satisfy such withholding obligations, in whole or in part, (i) by causing the Company to withhold shares of Common Stock otherwise issuable or (ii) by delivering to the Company a sufficient number of
shares of Common Stock of the Company. The shares so withheld or delivered shall have a fair market value equal to such withholding obligation. The fair market value of the shares used to satisfy such withholding obligation shall be determined by
the Board of Directors as of the date that the amount of tax to be withheld is to be determined. 
 20. Stockholders’
Agreement. Each recipient of Restricted Stock or Common Stock issued upon the exercise of Options shall execute and deliver an adoption agreement to the Stockholders’ Agreement in order that such recipient shall become a party to the
Stockholders’ Agreement as a “Restricted Stockholder” in accordance with Section 9.1(b) thereof.  
 21.
Effective Date and Duration of the Plan.  
 21.1 Effective Date. The Plan shall become effective when adopted by the
Board of Directors. If stockholder approval of the Plan is not obtained within twelve months after the date of the Board’s adoption of the Plan, no Options previously granted under the Plan shall be deemed to be Incentive Stock Options and no
Incentive Stock Options shall be granted thereafter. Amendments to the Plan not requiring stockholder approval shall become effective when adopted by the Board of Directors. Subject to this limitation, Options may be granted under the Plan at any
time after the effective date and before the date fixed for termination of the Plan. 
 21.2 Termination. Unless sooner terminated in
accordance with Section 18 or by the Board of Directors, the Plan shall terminate upon the close of business on the day next preceding the tenth anniversary of the date of its adoption by the Board of Directors. 

22. Provision for Foreign Participants. The Board of Directors may, without amending the Plan, modify the terms of Option
Agreements or Restricted Stock Agreements to differ from those specified in the Plan with respect to participants who are foreign nationals or employed outside the United States to recognize differences in laws, rules, regulations or customs of such
foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. 
 23. Requirements of
Law. The Company shall not be required to sell or issue any shares under any Option or Restricted Stock Award if the issuance of such shares shall constitute a violation by the optionee, by the Restricted Stock Award recipient, or by the Company
of any provision of any law or regulation of any governmental authority. In addition, in connection with the Act, the Company shall not be required to issue any shares upon exercise of any Option unless the Company has received evidence satisfactory
to it to the effect that the holder of such Option will not transfer such shares except pursuant to a registration statement in effect under the Act or unless an opinion of counsel satisfactory to the Company has been received by the Company to the
effect that such registration is not required in connection with any such transfer. Any determination in this connection by the Board of Directors shall be final, binding and conclusive. In the event the shares issuable on exercise of an Option are
not registered under the Act or under the securities laws of each relevant state or other jurisdiction, the Company may imprint on the certificate(s) appropriate legends that counsel for the Company considers necessary or advisable to comply with
the Act or any such state or other securities law. The  

  
 11 

 
Company may register, but in no event shall be obligated to register, any securities covered by the Plan pursuant to the Act; and in the event any shares are so registered the Company may remove
any legend on certificates representing such shares. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option, the grant of any Restricted Stock Award or the issuance of shares pursuant thereto to
comply with any law or regulation of any governmental authority. 
 24. Conversion of Incentive Stock Options into Non-Qualified Options;
Termination. The Board of Directors, with the consent of any optionee, may in its discretion take such actions as may be necessary to convert such optionee’s Incentive Stock Options (or any installments or portions of installments thereof)
that have not been exercised on the date of conversion into non-statutory Options at any time prior to the expiration of such Incentive Stock Options, regardless of whether the optionee is an employee of the Company or a parent or subsidiary of the
Company at the time of such conversion. At the time of such conversion, the Board of Directors (with the consent of the optionee) may impose such conditions on the exercise of the resulting non-statutory Options as the Board of Directors in its
discretion may determine, provided that such conditions shall not be inconsistent with this Plan. Nothing in this Plan shall be deemed to give any optionee the right to have such optionee’s Incentive Stock Options converted into non-statutory
Options, and no such conversion shall occur until and unless the Board of Directors takes appropriate action. The Board of Directors, with the consent of the optionee, may also terminate any portion of any Incentive Stock Option that has not been
exercised at the time of such termination. 
 25. Non-Exclusivity of this Plan; Non-Uniform Determinations. Neither the adoption of
this Plan by the Board of Directors nor the approval of this Plan by the stockholders of the Company shall be construed as creating any limitations on the power of the Board of Directors to adopt such other incentive arrangements as it may deem
desirable, including, without limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be either applicable generally or only in specific cases. 

The determinations of the Board of Directors under this Plan need not be uniform and may be made by it selectively among persons who receive
or are eligible to receive Options or Restricted Stock Awards under this Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Board of Directors shall be entitled, among other things, to
make non-uniform and selective determinations, and to enter into non-uniform and selective Option Agreements and Restricted Stock Agreements, as to (a) the persons to receive Options or Restricted Stock Awards under this Plan, (b) the
terms and provisions of Options or Restricted Stock Awards, (c) the exercise by the Board of Directors of its discretion in respect of the exercise of Options pursuant to the terms of this Plan, and (d) the treatment of leaves of absence
pursuant to Section 10 hereof. 
 26. Governing Law. This Plan and each Option and Restricted Stock Award shall be
governed by the laws of the State of Delaware, without regard to its principles of conflicts of law. 

  
 12

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