Document:

EX-10.2

 Exhibit 10.2 

SEA LIMITED 
 AMENDED
AND RESTATED SHARE INCENTIVE PLAN 
 PREFACE 

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

	1.	PURPOSE OF THE PLAN. 

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

	2.	ADMINISTRATION. 

 2.1 Administrator. This Plan shall be
administered by and all Awards under this Plan shall be authorized by the Administrator. The “Administrator” means the Board, one or more committees appointed by the Board (such as the compensation committee of the Board), or one or
more persons designated by such committee or committees to administer all or certain aspects of this Plan. Any such committee appointed by the Board shall be comprised solely of one or more directors or such number of directors as may be required
under applicable law. The Board or a committee comprised solely of directors may also delegate, to the extent permitted by the Companies Law of the Cayman Islands and any other applicable law, to one or more officers of the Company, its powers under
this Plan. The Board may also delegate different levels of authority to different committees with administrative and grant authority under this Plan. Unless otherwise provided in the Memorandum and Articles of Association of the Company or the
applicable charter of any Administrator: (a) a majority of the members of the acting Administrator shall constitute a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written
consent of the members of the Administrator shall constitute action by the acting Administrator. 
 2.2 Plan Awards;
Interpretation; Powers of Administrator. Subject to the express provisions of this Plan, the Administrator is authorized and empowered to do all things necessary or desirable in connection with the authorization of Awards and
the administration of this Plan (in the case of a committee or delegation to one or more officers, within the authority delegated to that committee or person(s)), including, without limitation, the authority to: 

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

 

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

  

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

  

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

 

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

  

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

 

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

  

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

 

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

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

2.3 Binding Determinations. Any action taken by, or inaction of, the Company, any Affiliate, the Board or the Administrator
relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the Board nor the
Administrator, nor any member thereof or person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any Award), and all such
persons shall be entitled to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by
law and/or under any directors and officers liability insurance coverage that may be in effect from time to time. 
 2.4
Reliance on Experts. In making any determination or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including employees of and professional advisors to the
Company. No director, officer or agent of the Company or any of its Affiliates shall be liable for any such action or determination taken or made or omitted in good faith. 

2.5 Delegation. The Administrator may delegate ministerial, non-discretionary functions to individuals who
are officers or employees of the Company or any of its Affiliates or to third parties. 
 2.6 U.S.
Taxpayers. To the extent that any Eligible Person is subject to taxation in the United States of America (“U.S.”), such Eligible Person shall be subject to the additional terms and conditions relating to Section 409A of the
Internal Revenue Code (the “Code”) separately provided in an Exhibit A (“Exhibit A”). To the extent that any Eligible Person provides services for the Company or any of its Affiliates, either of
which files a U.S. tax return, such Eligible Person and any Award granted hereunder will be subject to the additional terms and conditions relating to Section 162(m) as set forth in the separately provided Exhibit A.  

 

	3.	ELIGIBILITY. 

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

 

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

  

	 	(b)	any member of the Board; or 

  

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

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

Each Award granted under this Plan must be approved by the Administrator at or prior to the grant of the Award. 

 

	4.	SHARES SUBJECT TO THE PLAN. 

 4.1 Shares Available. Subject
to the provisions of Section 8.3.1, the shares that may be delivered under this Plan will be the Company’s authorized but unissued Ordinary Shares (and any of its Ordinary Shares held as treasury shares). The Ordinary Shares issued and
delivered may be issued and delivered for any lawful consideration. The Administrator has the sole discretion to determine the type of Ordinary Shares to be granted as Award with the rights and terms as set forth in the Memorandum and Articles of
Association. Absent such determination by the Administrator, after the Initial Public Offering, all Ordinary Shares that may be issued and delivered pursuant to the Awards under this Plan, including Voting Ordinary Shares or Non-Voting Ordinary
Shares, shall be re-designated as Class A Ordinary Shares on a one-to-one basis. Any Ordinary Shares distributed pursuant to an Award may be represented by American depositary shares. If the number of Ordinary Shares represented by an American
depositary share is other than on a one-to-one basis, the limitations of Section 4.2 shall be adjusted to reflect the distribution of American depositary shares in lieu of Ordinary Shares. 

4.2 Share Limit. Subject to the provisions of Section 8.3.1 and further subject to the share counting rules of
Section 4.3, the maximum number of Ordinary Shares that may be delivered pursuant to Awards granted under this Plan will not exceed 50,000,000 shares (the “Share Limit”) in the aggregate. 

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

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

 

	5.	OPTION AND SAR GRANT PROGRAM. 

 5.1 Option and SAR Grants in
General.  
  

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

  

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

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

5.3 Option or SAR Price. 

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

	 	(a)	the par value of an Ordinary Share; 

  

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

 

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

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

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

  

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

  

	 	(c)	the delivery of previously owned Ordinary Shares; 

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

  

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

  

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

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

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

 

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

  

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

 

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

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

  

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

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

  

	 	5.4	Vesting; Term; Exercise Procedure. 

 5.4.1
Vesting. Except as provided in Section 5.8, an Option or SAR may be exercised only to the extent that it is vested and exercisable. The Administrator will determine the vesting and/or exercisability provisions of each Option or SAR
(which may be based on performance criteria, passage of time or other factors or any combination thereof), which provisions will be set forth in the applicable Award Agreement. Unless the Administrator otherwise expressly provides, once exercisable
an Option or SAR will remain exercisable until the expiration or earlier termination of the Option or SAR. 
 5.4.2 Term. Each
Option and SAR shall expire not more than 10 years after its date of grant. Each Option and SAR will be subject to earlier termination as provided in or pursuant to Sections 5.6 and 8.3. 

5.4.3 Exercise Procedure. Any exercisable Option or SAR will be deemed to be exercised when (a) the applicable exercise
procedures in the related Award Agreement have been satisfied (or, in the absence of any such procedures in the related Award Agreement, the Company has received written notice of such exercise from the Participant), and (b) in the case of an
Option, the Company has received any required payment made in accordance with Section 5.3 and Section 8.6, and (c) in the case of an Option or SAR, the Company has received any written statement required pursuant to
Section 8.5.1. 

  
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 5.4.4 Fractional Shares/Minimum Issue. Fractional share interests will be
disregarded, but may be accumulated. The Administrator, however, may determine that cash, other securities, or other property will be paid or transferred in lieu of any fractional share interests. No Option or SAR may be exercised as to fewer than
100 shares (subject to adjustment pursuant to Section 8.3.1) at one time unless the number as to which the Award is exercised is the total number at the time then subject to the vested and exercisable portion of the Award. For U.S. residents or
taxpayers, any fractional shares subject to an Award shall be rounded down to the nearest whole share. 
  

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

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

5.5.3 ISO Notice of Sale Requirement. Any Participant who exercises an Incentive Stock Option shall give prompt written notice
to the Company of any sale or other transfer of the Ordinary Shares acquired on such exercise if the sale or other transfer occurs within (a) one year after the exercise date of the Option, or (b) two years after the grant date of the
Option. 
 5.5.4 Limits on 10% Holders. No Incentive Stock Option may be granted to any person who, at the time the Incentive
Stock Option is granted, is a US resident and owns (or is deemed to own under Section 424(d) of the Code) outstanding shares of the Company (or any of its Affiliates) possessing more than 10% of the total combined voting power of all classes of
shares of the Company (or any of its Affiliates), unless the exercise price of such Incentive Stock Option is at least 110% of the Fair Market Value of the shares subject to the Incentive Stock Option and the Incentive Stock Option by its terms is
not exercisable more than five years after the date the Incentive Stock Option is granted. 

  
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	 	5.6	Effects of Termination of Employment on Options and SARs. 

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

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

 

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

 

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

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

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

  

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

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

  

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

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

	6.	SHARE AWARD PROGRAM. 

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

  
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 6.3 Purchase Price. 

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

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

6.5 Term. A Share Award shall either vest or be repurchased by the Company as provided in Section 6.8
not more than 10 years after the date of grant. Each Share Award will be subject to earlier termination as provided in or pursuant to Sections 6.8 and 8.3. Any payment of cash or delivery of shares in payment for a Share Award may be delayed until a
future date if specifically authorized by the Administrator in writing and by the Participant. 
 6.6 Share Certificates;
Fractional Shares. Share certificates evidencing Restricted Shares will bear a legend making appropriate reference to the restrictions imposed hereunder and will be held by the Company or by a third party designated by the Administrator
until the restrictions on such shares have lapsed, the shares have vested in accordance with the provisions of the Award Agreement and Section 6.4, and any related loan has been repaid. Fractional share interests will be disregarded, but may be
accumulated. The Administrator, however, may determine that cash, other securities, or other property will be paid or transferred in lieu of any fractional share interests. For U.S. residents or taxpayers, any fractional share interests shall be
rounded down to the nearest whole share. 

  
 12 

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

6.8 Termination of Employment; Return to the Company. Unless the Administrator otherwise expressly provides, Restricted
Shares subject to an Award that remain subject to vesting conditions that have not been satisfied by the time specified in the applicable Award Agreement (which may include, without limitation, the Participant’s Severance Date), will not vest
and will be reacquired by the Company in such manner and on such terms as the Administrator provides, which terms shall include, to the extent not prohibited by law, return or repayment of the lower of (a) the Fair Market Value of the
Restricted Shares at the time of the termination, or (b) if applicable, the original purchase price of the Restricted Shares, without interest. The Award Agreement shall specify any other terms or conditions of the repurchase if the Award fails
to vest. Any other Share Award that has not been exercised as of a Participant’s Severance Date shall terminate on that date unless otherwise expressly provided by the Administrator in the applicable Award Agreement. 

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

	7.	RSU AWARD PROGRAM 

  

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

  
 13 

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

  

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

  

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

  

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

 

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

  

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

  

	8.	PROVISIONS APPLICABLE TO ALL AWARDS. 

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

  
 14 

 8.1.2 No Employment/Service Contract. Nothing contained in this Plan (or in any
other documents under this Plan or related to any Award) shall confer upon any Eligible Person or Participant any right to continue in the employ or other service of the Company or any of its Affiliates, constitute any contract or agreement of
employment or other service or affect an employee’s status as an employee at will, nor shall interfere in any way with the right of the Company or any Affiliate to change such person’s compensation or other benefits, or to terminate his or
her employment or other service, with or without cause at any time. Nothing in this Section 8.1.2, or in Section 8.3 or 8.15, however, is intended to adversely affect any express independent right of such person under a separate employment
or service contract. An Award Agreement shall not constitute a contract of employment or service. 
 8.1.3 Plan Not Funded.
Awards payable under this Plan will be payable in Ordinary Shares or from the general assets of the Company, and (except as to the share reservation provided in Section 4.4) no special or separate reserve, fund or deposit will be made to assure
payment of such Awards. No Participant, Beneficiary or other person will have any right, title or interest in any fund or in any specific asset (including Ordinary Shares, except as expressly provided) of the Company or any of its Affiliates by
reason of any Award hereunder. Neither the provisions of this Plan (or of any related documents), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan will create, or be construed to create, a trust
of any kind or a fiduciary relationship between the Company or any of its Affiliates and any Participant, Beneficiary or other person. To the extent that a Participant, Beneficiary or other person acquires a right to receive payment pursuant to any
Award hereunder, such right will be no greater than the right of any unsecured general creditor of the Company. 
 8.1.4 Charter
Documents. The Memorandum and Articles of Association of the Company, as may lawfully be amended from time to time, may provide for additional restrictions and limitations with respect to the Ordinary Shares (including additional restrictions
and limitations on the voting or transfer of Ordinary Shares) or priorities, rights and preferences as to securities and interests prior in rights to the Ordinary Shares. To the extent that these restrictions and limitations are greater than those
set forth in this Plan or any Award Agreement, such restrictions and limitations shall apply to any Ordinary Shares acquired pursuant to Awards under this Plan and are incorporated herein by this reference. 

8.2 No Transferability; Limited Exception to Transfer Restrictions. 

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

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

 

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

  
 15 

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

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

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

  

	 	(a)	transfers to the Company; 

  

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

 

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

  

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

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

  
 16 

 8.3 Adjustments; Changes in Control. 

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

It is intended that, if possible, any adjustments contemplated by the preceding two paragraphs be made in a manner that satisfies applicable
legal, tax and accounting (so as to not trigger any charge to earnings with respect to such adjustment) requirements. 
 Without limiting
the generality of Section 2.3, any good faith determination by the Administrator as to whether an adjustment is required in the circumstances pursuant to this Section 8.3.1, and the extent and nature of any such adjustment, shall be
conclusive and binding on all persons. 
 Unless otherwise expressly provided by the Administrator, in no event shall a conversion of one or
more outstanding shares of the Company’s preferred share (if any) or any new issuance of securities by the Company for consideration be deemed, in and of itself, to require an adjustment pursuant to this Section 8.3.1. 

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

  
 17 

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

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

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

  
 18 

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

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

8.4 Termination of Employment or Services. 

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

  
 19 

 8.4.2 Effect of Change of Affiliate Status. For purposes of this Plan and any
Award, if an entity ceases to be an Affiliate, a termination of employment or service will be deemed to have occurred with respect to each Eligible Person in respect of such Affiliate who does not continue as an Eligible Person in respect of another
Affiliate that continues as such after giving effect to the transaction or other event giving rise to the change in status. 
 8.4.3
Administrator Discretion. Notwithstanding the provisions of Section 5.6 or 6.8, in the event of, or in anticipation of, a termination of employment or service with the Company or any of its Affiliates for any reason, the
Administrator may accelerate the vesting and exercisability of all or a portion of the Participant’s Award, and/or, subject to the provisions of Sections 5.4.2 and 8.3, extend the exercisability period of the Participant’s Option or SAR
upon such terms as the Administrator determines and expressly sets forth in or by amendment to the Award Agreement. 
 8.4.4
Termination of Consulting or Affiliate Services. If the Participant is an Eligible Person solely by reason of clause (c) of Section 3, the Administrator shall be the sole judge of whether the Participant continues to render
services to the Company or any of its Affiliates, unless a written contract or the Award Agreement otherwise provides. If, in these circumstances, the Company or any Affiliate notifies the Participant in writing that a termination of the
Participant’s services to the Company or any Affiliate has occurred for purposes of this Plan, then (unless the contract or the Award Agreement otherwise expressly provides), the Participant’s termination of services with the Company or
Affiliate for purposes of this Plan shall be the date which is 10 days after the mailing of the notice by the Company or Affiliate or, in the case of a termination for Cause, the date of the mailing of the notice. 

8.5 Compliance with Laws.  

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

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

  
 20 

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

  

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

 

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

 Notwithstanding anything else herein to the contrary, neither the Company or any Affiliate has any
obligation to register the Ordinary Shares or file any registration statement under securities laws. 
 8.5.3 Share Legends.
All certificates evidencing Ordinary Shares issued or delivered under this Plan shall bear the following legends where appropriate and/or any other appropriate or required legends under applicable laws: 

“OWNERSHIP OF THIS CERTIFICATE, THE SHARES EVIDENCED BY THIS CERTIFICATE AND ANY INTEREST THEREIN ARE SUBJECT TO SUBSTANTIAL RESTRICTIONS
ON TRANSFER UNDER APPLICABLE LAW AND UNDER AGREEMENTS WITH THE COMPANY, INCLUDING RESTRICTIONS ON SALE, ASSIGNMENT, TRANSFER, PLEDGE OR OTHER DISPOSITION.” 

“THE SHARES ARE SUBJECT TO THE COMPANY’S RIGHT OF FIRST REFUSAL UNDER THE COMPANY’S SHARE INCENTIVE PLAN AND AGREEMENTS WITH
THE COMPANY THEREUNDER.” 
 “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT
OF 1933, AS AMENDED (“ACT”) OR ANY APPLICABLE SECURITIES, NOR HAVE THEY BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER OF SUCH SECURITIES WILL BE PERMITTED UNLESS A REGISTRATION STATEMENT UNDER THE ACT OR
APPLICABLE SECURITIES LAWS IS IN EFFECT AS TO SUCH TRANSFER, THE TRANSFER IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT OR OTHER COMPARABLE SECURITIES REGULATIONS, OR IN THE OPINION OF COUNSEL TO THE COMPANY, REGISTRATION UNDER THE ACT IS
UNNECESSARY IN ORDER FOR SUCH TRANSFER TO COMPLY WITH THE ACT AND WITH ANY OTHER APPLICABLE SECURITIES LAWS.” 

  
 21 

 8.5.4 Confidential Information. Any financial or other information relating to the
Company obtained by Participants in connection with or as a result of this Plan or their Awards shall be treated as confidential. 
 8.6
Tax Withholding. 
 8.6.1 Tax Withholding. Upon any exercise, vesting, or payment of any Award
or upon the disposition of Ordinary Shares acquired pursuant to the exercise of an Incentive Stock Option prior to satisfaction of the holding period requirements of Section 422 of the Code, the Company or any of its Affiliates shall have the
right at its option to: 
  

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

  

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

  

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

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

  
 22 

 8.6.2 Tax Loans. If so provided in the Award Agreement or otherwise authorized by
the Administrator, the Company may, to the extent permitted by law, authorize a loan to an Eligible Person in the amount of any taxes that the Company or any of its Affiliates may be required to withhold with respect to Ordinary Shares received (or
disposed of, as the case may be) pursuant to a transaction described in Section 8.6.1. Such a loan will be for a term and at a rate of interest and pursuant to such other terms and conditions as the Company may establish, subject to compliance
with applicable law. Such a loan need not otherwise comply with the provisions of Section 5.3.3. 
 8.7 Plan and Award
Amendments, Termination and Suspension. 
 8.7.1 Board Authorization. The Board may, at any time,
terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. No Awards may be granted during any period that the Board suspends this Plan. 

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

8.7.3 Amendments to Awards. Without limiting any other express authority of the Administrator under (but subject to) the express
limits of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on Awards to Participants that the Administrator in the prior exercise of its discretion has imposed, without the consent of a Participant, and
(subject to the requirements of Sections 2.2 and 7.7.4) may make other changes to the terms and conditions of Awards. 
 8.7.4
Limitations on Amendments to Plan and Awards. No amendment, suspension or termination of this Plan or amendment of any outstanding Award shall, without written consent of the Participant, affect in any manner materially adverse to the
Participant any rights or benefits of the Participant or obligations of the Company under any Award granted under this Plan prior to the effective date of such change. Changes, settlements and other actions contemplated by Section 8.3 shall not
be deemed to constitute changes or amendments for purposes of this Section 8.7. 
 8.8 Privileges of Share
Ownership. Except as otherwise expressly authorized by the Administrator, a Participant will not be entitled to any privilege of share ownership as to any Ordinary Shares not actually delivered to and held of record by the Participant.
Except as expressly required by Section 8.3.1, no adjustment will be made for dividends or other rights as a shareholder for which a record date is prior to such date of delivery. 

  
 23 

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

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

8.11 Term of the Plan. Unless earlier terminated by the Board, this Plan will terminate at the close of
business on the day before the 10th anniversary of the Effective Date. After the termination of this Plan either upon such stated expiration date or its earlier termination by the Board, no
additional Awards may be granted under this Plan, but previously granted Awards (and the authority of the Administrator with respect thereto, including the authority to amend such Awards) shall remain outstanding in accordance with their applicable
terms and conditions and the terms and conditions of this Plan. 
 8.12 Governing
Law/Severability. 
 8.12.1 Choice of Law. This Plan, the Awards, all documents evidencing Awards and
all other related documents will be governed by, and construed in accordance with, the laws of the Cayman Islands. 
 8.12.2
Severability. If it is determined that any provision of this Plan or an Award Agreement is invalid and unenforceable, the remaining provisions of this Plan and/or the Award Agreement, as applicable, will continue in effect provided that
the essential economic terms of this Plan and the Award can still be enforced. 
 8.13 Captions. Captions
and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate reference. Such headings will not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision
thereof. 
 8.14 Non-Exclusivity of Plan. Nothing in this Plan will limit or be deemed to limit the
authority of the Board or the Administrator to grant awards or authorize any other compensation, with or without reference to the Ordinary Shares, under any other plan or authority. 

  
 24 

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

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

	9.	DEFINITIONS. 

 “Administrator” has the meaning given to such term
in Section 2.1. 
 “Affiliate” means (a) any corporation (other than the Company) in an unbroken chain of
corporations ending with the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain, or (b) any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation
in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

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

  
 25 

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

 

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

  

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

  

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

  

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

  

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

 

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

  

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

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

  
 26 

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

 

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

  

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

 

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

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

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

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

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

  
 27 

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

  

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

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

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

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

  
 28 

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

“Plan” means this Sea Limited Share Incentive Plan, as it may hereafter be amended from time to time. 

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

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

  
 29 

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

  

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

 

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

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

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

  
 30Exhibit 10.2

LEASE AGREEMENT

THIS LEASE AGREEMENT ("Lease") is made this October 2, 2017, between Trapp Road Limited Liability Company, a Minnesota limited liability company ("Landlord"), with an address at 4825 West 94th Street, Bloomington, MN 55437 and Dynatronics Corporation ("Tenant"), with an address at 7030 Park Centre Dr, Salt Lake City, UT 84121.

For good and valuable consideration, the receipt and sufficiency of which each party hereby acknowledges, the parties agree as follows:

ARTICLE ONE

1.1. Grant; Premises.  In consideration of the full and timely performance by Tenant of all the terms, conditions and covenants of this Lease by it to be kept and performed, including timely payment of all base rent and additional rent hereunder, Landlord does hereby grant, demise and let unto Tenant, and Tenant does hereby hire and take from Landlord, the real property located at 1200 Trapp Road in the City of Eagan, Minnesota, including all hereditaments and appurtenances pertaining thereto, together with all buildings, structures, fixtures and other improvements located thereon (the "Premises") which are legally described on the attached Exhibit A.

1.2. Subject to Taxes and Landlord's Title.  The Premises are leased subject:  (a) to real estate taxes and installments of special assessments and interest thereon, due and payable in any lease year or partial lease year, and (b) to all title matters of public record, to public streets and highways, to any matters that an accurate survey or physical inspection of the Premises may show, and to all zoning, subdivision, building and similar rules, regulations and ordinances now in effect or hereafter enacted.

1.3. Site Leased "As Is".  Tenant acknowledges that Landlord has made no representations or warranties with respect to the condition of the Premises, and Tenant agrees that it has made its own investigation of the Premises.  Accordingly, Tenant takes the Premises in their present state and condition, "as is" and "where is," subject to all deficiencies, without any obligation on the part of Landlord to make any alterations, changes, improvements, repairs or replacements of any kind whatsoever.  Tenant's taking possession of the Premises shall be conclusive evidence that the Premises, including all fixtures, equipment and personal property thereon, were in good repair and working order, and in clean and tenantable condition, at the time possession was taken.  Landlord makes no covenants, representations or warranties as to the age, quantity or condition of the Premises, their value, their fitness for any specific purpose, or the title thereto (except as otherwise expressly stated in this Lease), and no such covenants, representations or warranties shall be implied.  Notwithstanding the foregoing, Tenant does not assume any liability for any environmental conditions existing in, on, or under the Premises prior to the term of this Lease.  Landlord hereby agrees to indemnify, defend, and hold harmless Tenant and its officers, directors, employees, shareholders, permitted assignees or sublessees, licensees or invitees from and against any and all claims, losses, liabilities, damages and expenses (including reasonable cleanup costs and attorneys' fees arising under this indemnity) which may arise directly or indirectly from any use or any spill, release or discharge of hazardous substances (as defined by federal or Minnesota law) in, on or under the Premises prior to the term of this Lease or which continues during any period Tenant remains in possession of the Premises.

1

1.4. Covenant for Quiet Environment.  Tenant shall and will, upon paying the rent, taxes, assessments and insurance premiums and any other additional rental payments herein provided to be paid by Tenant, and upon fully observing and performing the terms, conditions and covenants herein provided to be observed and performed by Tenant, quietly and peaceably hold and enjoy the Premises for and during the full term of the Lease, unless this Lease be sooner terminated as provided herein.

1.5. Net Lease.  Except as otherwise specifically provided herein, it is the intention and purpose of the parties that this Lease shall be a "net lease" to the Landlord.  Accordingly, except as otherwise provided herein, all costs or expenses of whatever character, nature or kind, general and special, ordinary and extraordinary, liquidated or contingent, foreseen or unforeseen, that may be necessary with respect to operation of the said Premises shall be paid by Tenant, provided however, such expenses shall not include any mortgage payments related to the Premises.  All provisions of this Lease relating to costs and expenses are to be construed in light of such intention and purpose to construe this Lease as a "net lease."  For the information of Tenant, attached hereto as Exhibit "B" is a list of all costs and expenses and the amounts thereof incurred with respect to the Premises during the past two (2) years.

ARTICLE TWO

2.1. Term.  Tenant shall have and hold the Premises for an initial term of three (3) years commencing on October 2, 2017 ("Commencement Date"), and extending until and including October 2, 2020 (the "Initial Term").  Tenant shall have no obligation to occupy the Premises during the third year of the Initial Term so long at it pays the annual Base Rent at the beginning of the third year of the Initial Term, and so long as Tenant continues to pay the taxes and insurance with respect to the Premises on a monthly basis during the third year of the Initial Term until Landlord enters into a new lease of the Premises. In such case, Landlord shall use reasonably diligent efforts to enter into a new lease of the Premises during such year.   If Tenant elects not to occupy the Premises during the third year of the Initial Term, the Lease shall terminate upon the payment of annual Base Rent, and neither party shall have any further obligation to each other under the Lease (except for payment of the taxes and insurance, as provided above, and except with respect to defaults, if any, existing at the time of such payment).   In the event such early termination option is not exercised, this Lease shall automatically renew for a successive two (2) year term (the "First Renewal Term")  unless Tenant provides written notice to Landlord of its intent not to renew this Lease at least one hundred eighty (180) days prior to the expiration of the Initial Term.  Additionally, the First Renewal Term (if any) will automatically renew for a successive two (2) year term (the "Second Renewal Term") unless Tenant provides written notice to Landlord of its intent not to extend the First Renewal Term at least one hundred eighty (180) days prior to the expiration of the First Renewal Term. The Initial Term and, if applicable, the First Renewal Term and the Second Renewal Term shall be referred to herein as the "Term."

2

2.2. Base Rent.  The annual base rent during the Term of this Lease shall be $600,000.00 per year, payable in monthly installments of $50,000.00.  If Tenant enters the First Renewal Term or the Second Renewal Term as described in the section 2.1, the annual base rent shall not increase.

2.3. Holding Over.  Should Tenant continue to occupy the Premises after the expiration of the Initial Term, or if applicable, the First Renewal Term or the Second Renewal Term (as applicable, the "Termination Date") or earlier termination of this Lease, whether with or without the consent of Landlord, such tenancy shall be on a month-to-month basis on the same terms as provided in this Lease.

2.4. Payment of Base Rent; Late Charge.  Tenant shall pay base rent to Landlord, without the necessity for demand on the first business day of each and every month during the term hereof at Landlord's address set forth in the caption of this Lease, or such other place as Landlord may from time to time designate in writing.  If base rent is not received by Landlord by the fifteenth (15th) day of the month in which due, a late charge equal to five percent (5%) of the amount due shall be assessed and be immediately due and payable.

2.5. Tenant to Surrender Premises in Good Condition.  Upon the Termination Date or earlier termination of the term of this Lease, Tenant shall at its own expense:  (a) remove from the Premises all moveable furnishings and other items of personal property and equipment; (b) repair any damage or injury, and make any necessary replacements, caused or necessitated by such removal; (c) remove, in compliance with law, any "hazardous substances" released by Tenant that may be present in, on or under the Premises; and (d) quit and deliver up the Premises to Landlord, peaceably and quietly, in as good order, condition and repair as the same were on the date this Lease commenced, or were thereafter placed in by Landlord, reasonable wear and tear, insured casualty and acts of God excepted.

ARTICLE THREE

3.1. Permitted Use.  Subject to all the terms and conditions of this Lease, Tenant shall use and occupy the Premises for office, warehouse, retail, light manufacturing and other lawful business purposes only.  Tenant shall not use or permit upon the Premises anything that might be dangerous to life or limb unless required with respect to the use permitted under the previous sentence.  Tenant shall not in any manner deface or injure the Premises or any part thereof, or overload the floors of the Premises. Tenant shall not do anything or permit anything to be done upon the Premises which would constitute a public or private nuisance or waste, or would tend unreasonably to disturb occupants of neighboring properties, or would cause structural injury to the improvements or cause the value or usefulness of the Premises or any part thereof to diminish in any material respect.

3

3.2. Compliance with Laws.  Tenant shall not use or occupy the Premises or permit the Premises to be used or occupied contrary to any statute, rule, order, ordinance, requirement or regulation applicable thereto or in a manner which would violate any certificate of occupancy affecting the same, or for illegal or immoral purposes.  Tenant shall observe and comply with all conditions and requirements necessary to preserve and extend any and all rights, licenses, permits (including but not limited to zoning variances, special exemptions and nonconforming uses), privileges, franchises and concessions which are now applicable to the Premises, or which have been granted to or contracted for by Tenant or Landlord in connection with any existing or presently contemplated use of the Premises.

3.3. Permits and Approvals.  Tenant shall, at its sole cost and expense, procure any and all necessary permits, certificates, licenses or other authorizations required for its use of the Premises.  If the owner of the Premises is required by law to join in any such application, Landlord shall cooperate fully with Tenant in connection with such application, but at Tenant's cost.  To the extent Landlord has been operating the Premises without any necessary permits, certificates, licenses or other authorizations for Landlord's use of the Premises, and if any improvements are required to bring the Premises into compliance for the issuance of any necessary permits, certificates, licenses or other authorizations for Tenant's reasonable use of the Premises, Landlord or prior tenant shall pay for all expenses associated with such improvements.

ARTICLE FOUR

4.1. Tenant to Pay Taxes and Assessments.  As further consideration for this Lease, Tenant shall pay all taxes, charges and assessments of every kind and nature which shall be due and payable during the term of this Lease, including all installments of special assessments now or hereafter levied and interest thereon.  Provided, however, that regardless of the payment dates for real estate taxes due and payable in any initial and any final partial lease years, and any installments of special assessments and interest thereon payable therewith, such taxes and assessments shall be prorated between Landlord and Tenant on a daily basis to reflect the term of this Lease and any extension or renewal thereof, and any holdover tenancy.

Throughout the term of this Lease, unless waived in writing by Landlord, Tenant shall pay directly to the appropriate taxing authority, prior to the due date and shall provide Landlord evidence of the same, the total amount of real estate taxes and installments of special assessments and other assessment charges ("Taxes") due and payable during the lease year or partial lease year.

4.2. Personal Property Taxes.  Tenant shall pay all personal property taxes under any laws hereafter in force, levied against personal property of any kind or nature located on the Premises.

4.3. Time of Payment of Taxes and Receipts.  Subject to the provisions of Paragraph 4.1, Tenant shall pay all said Taxes in each and every instance as the same become due and payable and before any fine, penalty, interest or costs may be added thereto for non-payment, excepting only interest on deferred installments of special assessments.  Tenant shall deliver to Landlord receipts (or duplicate receipts) showing the full and prompt payment of all such Taxes within ten (10) days after written demand therefore from Landlord.

4

4.4. Tenant to Pay for Utilities.  Tenant shall fully and promptly pay when due all utility charges for all services furnished to or upon the Premises during the full term of this Lease and any holdover tenancy, including, without limitation, water, gas, electricity, sewage and disposal charges, and telephone tolls, and shall pay all installation, connection access, and hook-up charges for said services.  Under no circumstances shall an interruption of any or all of said utilities constitute a constructive eviction or be deemed a default by Landlord under this Lease.

ARTICLE FIVE

5.1. Maintenance; Indemnity.

(a) Tenant shall at all times during the lease term, and any extensions or renewals thereof, and any holdover tenancy, keep all nonstructural components of the Premises and all fixtures and equipment thereon or therein, including without limitation the interior walls, all plate glass and other equipment and fixtures, and each and every walkway, alley and passageway appurtenant or contiguous to the Premises, in good repair and safe and working condition, and in full compliance with all laws, ordinances and regulations then in force, making whatever repairs and replacement may from time to time be necessary under the circumstances. If any repairs are made to the Premises by Tenant that exceed $5,000, Tenant will notify Landlord to obtain their consent to the form and manner of repair to ensure Tenant meets its obligations under section 2.5.

(b) Notwithstanding subsection (a) above, Tenant shall not be required to perform any item of maintenance, repair, replacement to the currently existing heating, ventilating and air conditioning systems, plumbing systems, mechanical systems, electrical systems or other equipment of the Premises, which (i) would be classified as a "capital expense" or a "capital repair" under generally accepted accounting principles ("GAAP"); (ii) has a reasonably expected useful life as determined by GAAP in excess of the then remaining balance of the Initial Term (or applicable extension term); (iii) cost, in the aggregate with any other item(s) which are within the description of subsection (a) above, $20,000.00 or more in any year of the Term of this Lease; and (iv) are reasonably necessary and not due to Tenant's negligent actions or Tenant's failure to perform reasonable maintenance (hereinafter referred to as a "Qualified Capital Expense"). Landlord shall perform such Qualified Capital Expense, at its sole cost, but subject to reimbursement of Tenant's Share. For purposes hereof, "Tenant's Share" of the cost of the Qualified Capital Expense shall equal a fraction of the cost of the Qualified Capital Expense, with the numerator of such fraction being the portion of such useful life of the Qualified Capital Expense as determined by GAAP that will occur prior to the expiration of the Term of the Lease, and the denominator of such fraction being the useful life of the Qualified Capital Expense as determined by GAAP, and such Tenant's Share shall be paid on a monthly basis over the term of the Lease.  If Tenant extends the term of this Lease pursuant to Section 2.1, Tenant's Share shall be recalculated with respect to such extension term and Tenant shall pay Tenant's Share applicable to the extension term on a monthly basis during the extension term.

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(c)                  Notwithstanding the foregoing, Landlord shall at all times during the lease term, and any extensions or renewals thereof, and any holdover tenancy, keep the roof of the building and the parking lot in good repair and safe and working condition, and in full compliance with all laws, ordinance and regulations then in force, making whatever repairs and replacement may from time to time be necessary under the circumstances (except to the extent of damage caused by Tenant or Tenant's guests, agents, contractors or employees).

5.2. Waiver of Liability.  Landlord shall not be liable to Tenant, or Tenant's agents, employees, customers, or invitees, for injury, death or property damage occurring in, on or about the Premises, except to the extent cause by Landlord or Landlord's agents, contractors or employees.  Tenant shall indemnify and hold Landlord harmless from and against any demand, claim, loss or damage, including costs and reasonable attorney's fees incurred by Landlord, arising out of any injury, death, property damage or other matter occurring in, on or about, or alleged to arise out of or in connection with the Premises, except to the extent caused by Landlord or Landlord's agents, contractors or employees.

5.3. General Liability and Related Insurance.  During the entire term of this Lease and any extensions or renewals thereof, and any holdover tenancy Tenant shall obtain and keep in full force and effect, at its sole cost and expense, a policy of comprehensive public liability insurance with respect to the Premises and the business of Tenant thereon, written by a responsible casualty or indemnity company authorized to do business in Minnesota, under which policy Landlord shall be named as an additional insured, and with coverage limits in the amount of Two Million Dollars ($2 million).  Prior to the commencement of its business at the Premises, Tenant shall furnish Landlord with said policy or with a certificate that said insurance is in effect, which shall state that Landlord will be notified in writing thirty (30) days prior to any cancellation, material change or renewal of said insurance.

5.4. Casualty Insurance.  Tenant shall keep all buildings, structures and other improvements constructed, erected or made upon the Premises, insured under an "all risk" form of fire insurance policy, with full extended coverage endorsements added, with coverage equal to the full replacement value of said buildings, structures and improvements.  In case of loss or damage from any of the hazards covered by said policy, Tenant shall be entitled to receive the insurance proceeds, but only to be used in repairing, restoring or rebuilding the building, structures and other improvements of the Premises to at least as good condition as they were in before such loss or damage, pursuant to Article VI; and the balance of said proceeds, if any, shall be the property of Landlord.

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5.5. Worker's Compensation Insurance.  Tenant shall maintain at all times any worker's compensation insurance coverage as may be required by law and, upon request, shall present a certificate of such insurance to Landlord.

5.6. Waiver of Claims.  Landlord and Tenant hereby waive subrogation and any and all claims and causes of action against each other based on the destruction of or damage to the Premises or the contents thereof as a result of any cause covered by the insurance described in Paragraphs 5.3 and 5.4.

5.7.  Fire and Other Casualty.  In the event the Premises are damaged by fire or other casualty covered by insurance, Landlord agrees to promptly restore and repair the Premises, but only to the extent of proceeds received from insurance.  Notwithstanding the foregoing, in the event that the Premises are (i) in the reasonable opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days after the date of such damage (or, if during the last year of the Initial Term or, if exercised, Renewal Term, within thirty (30) days after the date of such damage); or (ii) destroyed by a casualty which is not covered by insurance which is required to be carried and maintained under this Lease, then Landlord shall give written notice to Tenant of such determination (the "Determination Notice") within thirty (30) days of such casualty.  Either Landlord or Tenant may terminate and cancel this Lease by giving written notice to the other party within thirty (30) days after Tenant's receipt of the Determination Notice.  Upon the giving of such termination notice, all obligations hereunder with respect to periods from and after the date of such notice shall thereupon cease and terminate.  If no such termination notice is given, Landlord shall, to the extent of the available insurance proceeds received, promptly make such repair or restoration of the Premises to the approximate condition existing prior to such casualty.  Until the damage to the Premises is repaired, rent under this Lease shall abate to the extent Tenant is unable to use the Premises as contemplated by this Lease.

5.8. Termination for Failure to Rebuild.  If Landlord shall not commence to repair, restore or rebuild a damaged or destroyed building, structure, or other improvement in a commercially reasonable time, which shall not be more than 120 days from the damage, and complete the same as provided in Paragraph 5.8, then Tenant may terminate this Lease as provided herein and receive a reimbursement for any rent paid during such 120 day period, and if this Lease be terminated, any and all proceeds of the aforesaid fire insurance policy and the policy shall thereupon belong absolutely to Landlord.

ARTICLE SIX

6.1. Alterations.  Tenant may, at its sole cost and expense, expand, alter, remodel or enlarge any now or hereafter existing improvement, provided that it has first secured the written consent of Landlord to the plans and specifications therefore and further provided that any such work shall be in accordance with the provisions of Paragraph 6.2.  Any leasehold improvements made by Tenant, and any fixtures (except trade fixtures) installed on the Premises by Tenant, shall be the property of Landlord from and after the time of their construction or installation.

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6.2. Construction Standards.  Any such work shall be constructed and installed according to the plans and specifications therefore, which plans and specifications shall have been prepared by Tenant's architect and approved in writing by Landlord.  In all of the foregoing construction and installation, Tenant shall be bound by and do all of the following:

		(a)	
Complete said construction and installation as rapidly as practical and pay for all labor performed and materials furnished, when due and payable;

		(b)	
Keep the Premises free and clear of all liens for labor performed and materials furnished, and defend, at its sole cost and expense, each and every lien asserted or filed against the Premises or any part thereof, and pay each and every judgment made or given against said Premises, or any part thereof, on account of any such lien;

		(c)	
Indemnify and save Landlord harmless from and against any and every claim, demand, action, cause of action, or charge, including reasonable attorneys' fees incurred by Landlord, arising out of or connected with or alleged to arise out of or to be connected with any act or omission of Tenant, or any agent, employee, contractor or sub-contractor in or about the Premises, or connected with the assertion or filing of any lien against said Premises; and

		(d)	
At Landlord's election, procure, or cause its general contractor to procure, before entering onto the Premises, and maintain in full force until all work is fully completed, a policy of indemnity insurance written by a casualty or indemnity company authorized to do business in Minnesota, indemnifying Landlord against all liability for injury arising out of, or in any way connected with, or alleged to arise out of or in any way be connected with any said work, with coverage limits for each occurrence of injury or property damage reasonably satisfactory to Landlord.  In connection with all said work on the Premises, Tenant or its contractors shall procure and maintain in force such workers' compensation or other insurance as may be required by the laws of Minnesota, fully protecting Landlord.  If Landlord elects, Landlord shall be named as an additional insured under said policies, and said policies, or certificates evidencing that such insurance is in effect, shall be delivered by Tenant to Landlord prior to any contractor's commencement of work on the Premises.  Said policies or certificates shall state that Landlord will be notified in writing thirty (30) days prior to any cancellation, material change or renewal of any such insurance.

6.3. Landlord's Consent.     Landlord may withhold or delay its consent to a proposed alteration, or the plans and specifications therefore, in its sole discretion.

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ARTICLE SEVEN

7.1. No Assignment of Tenant's Interest.  Tenant shall not sell, assign or in any manner transfer this Lease or Tenant's interest hereunder, or sublet the Premises or any part thereof, or permit any license, franchise or concession thereon or therein, without the prior written consent of Landlord in each instance, which shall not be unreasonably withheld, conditioned or delayed.    Consent by Landlord to any sale, assignment, sublease, license, franchise, concession or other transfer shall not be a consent to any other of the same.  Notwithstanding anything herein to the contrary, Tenant may, without the necessity of obtaining Landlord's consent, sublease or assign this Lease to a subsidiary or wholly owned affiliate of Tenant, provided that Tenant furnishes prior written notice to Landlord of such sublease or assignment.

7.2. Landlord May Assign.  Landlord's right to assign this Lease or sell or convey the Premises, subject to this Lease, are and shall remain unqualified.  Upon any said assignment, sale or conveyance, Landlord shall thereupon be entirely freed of all obligations of the Landlord hereunder accruing thereafter and shall not be subject to any liability resulting from any act or omission or event occurring after said assignment, sale or conveyance.

7.3. Tenant to Place No Mortgage.  Tenant shall not at any time during the term of this Lease place, suffer or allow any mortgage, deed of trust or similar security instrument upon its leasehold interest created hereby, even though Landlord's title is superior to said mortgage, deed of trust or instrument, without the prior written consent of Landlord.

7.4. Landlord May Place Mortgage.  Landlord shall have the unrestricted right at any time during the full term of this Lease to place any mortgage, deed of trust or similar security instrument upon the Landlord's interest in the Premises.

7.5. Other Liens Prohibited.  Tenant shall not cause, suffer or acquiesce in the attachment of any other liens or encumbrances, including without limitation, any mechanic's or materialmen's liens, judgment liens, tax liens or liens for the cost of environmental remediation, to the Premises or the Landlord's or Tenant's interest therein.  Tenant shall so advise any contractor performing any work or providing any materials for Tenant in or with respect to the Premises. If any mechanic's, construction, or other lien is filed against the Premises or any part thereof for any reason whatsoever by reason of Tenant's acts or omissions or because of a claim against Tenant, then Tenant shall cause such lien to be canceled and discharged of record by bond or otherwise within ten (10) days after written request by Landlord.

ARTICLE EIGHT

8.1. Landlord May Pay Taxes, Liens, Etc.  In the event Tenant shall fail or neglect at the times and as herein provided to pay any tax, charge or assessment against the Premises, or to pay any lien or judgment against or affecting the Premises, or to provide and pay for any insurance, or to make any other payment which it is the obligation of Tenant to pay under the terms of this Lease, when due and payable, then in addition to all other remedies provided by this Lease or as now or hereafter provided by law, Landlord may, at its option, upon fifteen (15) days notice, pay any such judgment, tax, charge or assessment, or procure such insurance or pay the premiums therefor, and pay any other amount herein required to be paid by Tenant.  The amount or amounts so paid and interest thereon as hereinafter provided shall thereupon be immediately due and payable by Tenant to Landlord, as additional rent hereunder.

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8.2. Tenant May Contest Taxes, Etc.  Tenant, however, shall not be required to pay, remove or discharge any tax, assessments, tax lien, or any materialmen's or mechanics' lien or judgment against the Premises so long as Tenant shall in good faith contest the same or the validity thereof by appropriate legal proceedings, and so long as Landlord's title and rights are not in any manner impaired or jeopardized thereby, provided Tenant deposits with Landlord sufficient funds or other security acceptable to Landlord to protect Landlord and the Premises.  Pending any such legal proceedings, Landlord shall not pay, remove or discharge the tax, assessment, tax lien, materialmen's or mechanics' lien or judgment thereby contested unless its title or rights are being impaired or jeopardized by such delay or by such contest, in which event Landlord may use any such deposits to pay and discharge the same.

8.3. Tenant to Furnish Receipts.  Upon demand by Landlord, Tenant shall promptly furnish to Landlord receipts or other satisfactory evidence showing that Tenant has fully and promptly paid and discharged all charges, premiums, or any other payments required to be made by Tenant under the terms of this Lease.

8.4. Landlord's Advances to Bear Interest.  Tenant will pay to Landlord interest at the rate of ten percent (10%) per annum, or the maximum rate allowed by law, whichever is lower, on every payment of every kind which Tenant is obligated to pay to Landlord under the terms of this Lease from the date when such payment shall become due and payable until the same is paid.

8.5. Landlord's Right to Enter Premises.  Landlord, and its authorized agents or attorney, shall have the right, but not be obligated to enter the Premises:  (a) at any time in an emergency, and (b) at other reasonable times upon 24 hours prior notice during normal business hours to inspect, and to make such repairs, improvements and/or alterations in and to the Premises as Landlord may reasonably deem necessary under the circumstances, and there shall be no abatement of rents or any liability on the part of Landlord for any inconvenience, annoyance, or injury to business resulting therefrom.

ARTICLE NINE

9.1. Condemnation.  In the event the Premises or any part thereof shall at any time during the term of this Lease be condemned and taken by right of eminent domain, the damages allowed therefor (whether or not the same be specifically apportioned by the Court or the Commissioner, or by any other body making or supervising such condemnation, and regardless of such apportionment, if any) shall be the sole property of Landlord, except that any separate award for damage to Tenant's leasehold interest or for relocation expenses or for Tenant's trade fixtures shall belong to Tenant.

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9.2. Rent after Condemnation; Termination.  If the whole of the Premises be condemned and taken, rent hereunder shall cease from the time Tenant shall be deprived of possession of the Premises, and this Lease shall thereupon terminate and Landlord shall refund to Tenant any prepaid and unearned rent.  If a part, but not the whole, of the Premises be so taken or condemned, then this Lease and all of its provisions shall continue in full force and effect as to the remainder of the Premises not so taken, except that the base rental to be paid by Tenant may be adjusted as provided in Paragraph 9.3, if the provisions of said paragraph are applicable; provided, nonetheless, that in the event of a partial condemnation and taking which materially and substantially interferes with the operation of Tenant's business, Tenant shall have the right, by notice given to Landlord not later than 60 days following the date Tenant shall be deprived of possession of a portion of the Premises, to terminate this Lease, and upon the giving of such notice, this Lease shall terminate as of the date specified in the notice.  Any rents and other amounts and obligations due hereunder shall be apportioned as of said date.

9.3. Abatement after Material Taking.  In the event of a partial condemnation and taking which materially and substantially interferes with the operation of Tenant's business, and Tenant does not terminate this Lease as herein provided, basic rent for the Premises shall be equitably abated based upon the proportion of the entire Premises to the portion of the premises taken.

ARTICLE TEN

10.1. Default.  In the event Tenant shall violate, fail to perform or be in breach of:  (a) any covenant to pay base rent, additional rent, or any other amount due hereunder and for more than the later of (i) fifteen (15) days after the same is due, or (ii) five (5) days after written notice from Landlord, or (b) any other term, condition or covenant hereof and shall fail to cure the same within thirty (30) days after being given notice by Landlord, or such longer period as is reasonably required to cure such default, provided Tenant commences to cure such default within such thirty (30) period and diligently pursues such cure to completion, then Landlord may, without further notice to Tenant, either (i) re-enter the Premises and terminate Tenant's right to possession thereof, without terminating this Lease or (ii) re-enter the Premises and terminate both Tenant's right to possession thereof and this Lease.  Such re-entry may be effected without further notice to Tenant or judicial proceedings and upon such re-entry Landlord shall have the right to remove all persons and personal property from the Premises.  Landlord may, in its sole discretion, store any personal property so removed at the sole cost and expense of Tenant; provided that Landlord shall notify Tenant of the storage location.  Landlord's rights under this Article Ten are subject to the rights of Tenant under applicable law, including, without limitation, the duty of Landlord to act reasonably and in good faith to mitigate its damages.

10.2. Payment by Tenant Upon Re-entry.  Upon such re-entry, whether or not Landlord shall terminate this Lease, Tenant shall pay to Landlord upon demand (a) all base rent, additional rent and any other amount due to Landlord at the time of such re-entry, or such amounts to become due under this Lease, and for the performance of Tenant's other obligations under this Lease for the remainder of the term of this Lease (determined as if Landlord had not terminated this Lease) all of which shall not be relinquished or extinguished but shall continue in full force and effect and Landlord at any time may commence such one or more actions as it may deem necessary to collect any such sums due from or payable by Tenant under this Lease for such periods whether or not such payments are currently due and payable, and (b) all costs and expenses incurred by Landlord to effect such re-entry, including, without limitation, reasonable attorneys' fees, and costs to repair the Premises and remodel it for reletting (hereinafter "Re-entry Costs"). No such re-entry shall be deemed a termination of this Lease unless Landlord notifies Tenant that this Lease is terminated; and any such termination shall be effective only as of the date set forth in such notice.

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10.3. Payment of Rent Upon Termination.  If Landlord, following such reentry, shall terminate this Lease by such notice, or if this Lease shall be terminated by the order or decree of any court of competent jurisdiction, Tenant shall pay the Landlord upon demand, in addition to the amounts set forth in (a) and (b) of the preceding paragraph hereof, base rent and additional rent for the period between such re-entry and such termination.

10.4. Reletting on Tenant's Behalf.  Following any re-entry, Landlord may, if it does not terminate this Lease, relet the Premises or any part thereof for the account of Tenant for such term or terms (whether longer or shorter than the unexpired initial or renewal terms of this Lease), at such rent and upon such conditions and covenants as may be reasonable under the circumstances..  Upon each such reletting, all rent received by Landlord shall be applied to the following obligations of Tenant to the extent not then satisfied:  first, to Re-entry Costs; second, to any costs and expenses incurred by Landlord in reletting the Premises or part thereof, including, without limitation, the costs of reasonable brokers' and attorneys' fees; third, to the payments of base rent, and other amounts due hereunder unpaid and due to Landlord at the time of such reletting; fourth, to any other unpaid amount then due from Tenant to Landlord; and the balance, if any, shall be held by Landlord and applied in payment of base rent, and other amounts Tenant is obligated to pay as the same shall become due hereunder.  If the rent received upon such reletting during any calendar month shall be less than the total of (a) base rent that would have been paid by Tenant for that month plus (b) other amounts due hereunder, Tenant shall pay the deficiency to Landlord, such deficiency being calculated and paid monthly.

10.5. No Election of Remedy.  No remedy provided to Landlord hereunder shall be deemed an exclusive remedy and the election by Landlord of any such remedy shall not bar Landlord from pursuing any other remedy, for damages or otherwise, whether available to Landlord hereunder or existing at law or in equity.

10.6. Landlord May Terminate Lease on Tenant's Bankruptcy, Etc.  In the event Tenant's interest under this Lease be assigned by operation of law, or in event of the bankruptcy, insolvency, voluntary or involuntary liquidation or winding up of the affairs of Tenant, or in event of any corporate reorganizations or arrangements under the bankruptcy or insolvency laws of the United States of any State involving the interest of Tenant hereunder, Landlord may, at its election, by thirty (30) days' written notice to Tenant, the trustee in bankruptcy, the receiver, or other legal representative in charge of the interest of Tenant hereunder, terminate and cancel this Lease.

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ARTICLE ELEVEN

11.1. Subordination.  This Lease is subject and subordinate to the lien of any mortgage which may now or hereafter encumber the Premises.  In confirmation of such subordination, Tenant shall, at Landlord's request from time to time, promptly execute any certificate or other document requested by the holder of the mortgage.  Tenant agrees that in the event that any proceedings are brought for the foreclosure of any mortgage, Tenant shall immediately and automatically attorn to the purchaser at such foreclosure sale, as the landlord under this Lease, and Tenant waives the provisions of any statute or rule of law, now or hereafter in effect, which may give or purport to give Tenant any right to terminate or otherwise adversely affect this Lease or the obligations of Tenant hereunder in the event that any such foreclosure proceeding is prosecuted or completed.  Notwithstanding anything to the contrary in this Article Eleven, so long as Tenant is not in default under this Lease, this Lease shall remain in full force and effect and the holder of the Mortgage and any purchaser at foreclosure sale thereof shall not disturb Tenant's rights and/or possession hereunder.

11.2. Estoppel Certificates.  Tenant agrees at any time and from time to time, upon not less than five (5) business days prior written notice by Landlord, to execute, acknowledge and deliver to Landlord or a party designated by Landlord a statement in writing (a) certifying that this Lease is unmodified and in full force and effect, or if there have been modifications, that the Lease is in full force and effect as modified and stating the modifications; (b) stating the dates to which the rent and other charges hereunder have been paid by Tenant; (c) stating whether or not Landlord is in default in the performance of any covenant, agreement or condition contained in this Lease, and, if so, specifying each such default; and (d) such other matters relating to this Lease as may reasonably be requested.  Any such statement delivered pursuant thereto may be relied upon by Landlord, any prospective purchaser of the Premises, any mortgagee or prospective mortgagee of the Premises or of Landlord's interest, or any prospective assignee of any such mortgagee.

ARTICLE TWELVE

12.1. Notice.  All notices required or permitted hereunder shall be in writing and shall be deemed given when personally delivered to either Landlord or Tenant at, or when mailed first class, postage prepaid, registered or certified mail or sent via a nationally recognized overnight courier service to, the addresses specified in the caption of this Lease.  Either party may, by proper notice, change its address hereunder.  In the event Landlord or Tenant cannot be found at its said address, or at its then current address hereunder, notice shall be deemed given when mailed or sent by overnight courier service in the aforesaid manner to its last known address, or in the case of Tenant, when personally delivered to an officer of Tenant or its manager at the Premises.

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12.2. Time is of Essence.  Whenever any payment is to be made under this Lease by Tenant at or within a specified time, or whenever any act is to be done under this Lease by either party at or within a stated time, time is of the essence.

12.3. No Recording.  Neither party shall record this Lease without the prior written consent of the other.

12.4. Captions.  The captions and headings herein are for convenience and reference only and do not limit or construe the provisions hereof.

12.5. Severability.  If any term, condition, covenant, agreement or provision of this Lease, or the application thereof to any circumstance shall, to any extent, be held by a court of competent jurisdiction or by any authorized governmental authority to be invalid, void or unenforceable, the remainder of this Lease shall not be affected by such holding, and the remaining terms, conditions, covenants, agreements and provisions hereof shall continue in and be accorded full force and effect.

12.6. Entire Agreement.  This Lease represents the entire agreement between the parties hereto with respect to the Premises, and there are no agreements, understandings or undertakings relating to said subject matter except as set forth herein, and all prior negotiations and writings between the parties and their representatives, attorneys, brokers and agents are superseded hereby and thereby.

12.7. Modifications.  This Lease may not be amended, modified or supplemented except by a writing, executed by the party against whom such amendment, modification or supplement is sought to be enforced.

12.8. No Continuing Waiver.  No waiver of any term, condition, covenant or remedy hereunder or delay in the enforcement of any remedy hereunder in any one instance shall be deemed to be a waiver of any other term, condition, covenant or remedy in such instance or of such waived or delayed term, condition, covenant or remedy in any other instance.

12.9. Binding.  All of the terms, conditions, covenants, agreements and provisions of this Lease shall be construed as covenants running with the land and shall inure to the benefit of and be binding upon the parties hereto and upon their respective personal representatives, heirs, successors and permitted assigns.

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12.10. Attorneys' Fees.  In the event Landlord brings any action to enforce Tenant's obligations to pay base or additional rent or any other sum due and payable hereunder, Landlord shall be entitled to an award of all its costs and reasonable attorneys' fees.  In the event any action is brought by Landlord or Tenant to enforce any other provision of this Lease, the prevailing party shall be entitled to an award of its costs and reasonable attorney's fees.

12.11. Partial Payments.  Landlord may accept and negotiate any partial payments of base rent, additional rent, or other charges or reimbursements due from Tenant under this Lease without the same constituting accord and satisfaction or the cure of any default hereunder (except a cure to the extent of such partial payment).

12.12. Governing Law; Forum Selection.  Landlord and Tenant agree that any and all disputes arising from this contractual relationship shall be governed by Minnesota law, and shall be decided solely and exclusively by State or Federal courts located in or near Minneapolis, Minnesota.

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IN WITNESS WHEREOF, the parties have executed this instrument as of the day and year first above written.

 

	
LANDLORD:

	TENANT:
	 	 
	
Trapp Road Limited Liability Company

	
Dynatronics Corporation

	 	 
	
By: /s/ Jason Anderson

	By: /s/ Kelvyn H. Cullimore, Jr.
	Its: Treasurer	
Kelvyn H. Cullimore, Jr., President

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EXHIBIT A

Legal Description

The property is located at 1200 Trapp Road in Eagan.  It is a one and two story single tenant office/warehouse/light manufacturing facility located on the northeast side of Eagan near interstate #494 and Interstate #35E.

Legal Description:

The real property is located in Dakota County, State of Minnesota, as more particularly described as follows:

Lots 1, 2, 3, 35, 36, Block 2, Eagandale Center Industrial Park, according to the official plat thereof on record with the Dakota County Recorder's Office, State of Minnesota.

Lot 4, Block 2, except for the West 78.18 feet, Eagandale Center Industrial Park, according to the official plat thereof on record with the Dakota County Recorder's Office, State of Minnesota.

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EXHIBIT B

Premises Costs and Expenses for the Period

 August 1, 2015 to July 30, 2017

 

18

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