Document:

EX-10.4

 Exhibit 10.4 

WIND POWER HOLDINGS, INC. 

2013 STOCK OPTION AND GRANT PLAN 
  

	SECTION 1.	GENERAL PURPOSE OF THE PLAN; DEFINITIONS 

 The name of the plan is the Wind Power
Holdings, Inc. 2013 Stock Option and Grant Plan (the “Plan”). The purpose of the Plan is to encourage and enable the officers, employees, directors, Consultants and other key persons of Wind Power Holdings, Inc., a Delaware corporation
(including any successor entity, the “Company”) and its Subsidiaries, upon whose judgment, initiative and efforts the Company largely depends for the successful conduct of its business, to acquire a proprietary interest in the Company.

 The following terms shall be defined as set forth below: 

“Affiliate” of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is
controlled by or is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and
policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 

“Award” or “Awards,” except where referring to a particular category of grant under the Plan, shall
include Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted Stock Awards, Restricted Stock Units or any combination of the foregoing. 

“Award Agreement” means a written or electronic agreement setting forth the terms and provisions applicable to an Award
granted under the Plan. Each Award Agreement may contain terms and conditions in addition to those set forth in the Plan; provided, however, in the event of any conflict in the terms of the Plan and the Award Agreement, the terms of the Plan
shall govern. 
 “Bankruptcy” shall mean (i) the filing of a voluntary petition under any bankruptcy or
insolvency law, or a petition for the appointment of a receiver or the making of an assignment for the benefit of creditors, with respect to the Holder, (ii) the Holder being subjected involuntarily to such a petition or assignment or to an
attachment or other legal or equitable interest with respect to the Holder’s assets, which involuntary petition or assignment or attachment is not discharged within 60 days after its date, or (iii) the Holder being subject to a transfer of
its Shares or Award(s) by operation of law (including by divorce, even if not insolvent), except by reason of death. 

“Board” means the Board of Directors of the Company. 

“Cause” shall have the meaning as set forth in the Award Agreement(s). In the case that any Award Agreement does not contain
a definition of “Cause,” it shall mean (i) the grantee’s dishonest statements or acts with respect to the Company or any Affiliate of the Company, or 

 
any current or prospective customers, suppliers vendors or other third parties with which such entity does business; (ii) the grantee’s commission of (A) a felony or (B) any
misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii) the grantee’s failure to perform his assigned duties and responsibilities to the reasonable satisfaction of the Company which failure continues, in the reasonable
judgment of the Company, after written notice given to the grantee by the Company; (iv) the grantee’s gross negligence, willful misconduct or insubordination with respect to the Company or any Affiliate of the Company; or (v) the
grantee’s material violation of any provision of any agreement(s) between the grantee and the Company relating to noncompetition, nonsolicitation, nondisclosure and/or assignment of inventions. 

“Chief Executive Officer” means the Chief Executive Officer of the Company or, if there is no Chief Executive Officer, then
the President of the Company. 
 “Code” means the Internal Revenue Code of 1986, as amended, and any successor Code, and
related rules, regulations and interpretations. 
 “Committee” means the Committee of the Board referred to in
Section 2. 
 “Consultant” means any natural person that provides bona fide services to the Company (including a
Subsidiary), and such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities. 

“Disability” means “disability” as defined in Section 422(c) of the Code. 

“Effective Date” means the date on which the Plan is adopted as set forth on the final page of the Plan. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 

“Fair Market Value” of the Stock on any given date means the fair market value of the Stock determined in good faith by the
Committee based on the reasonable application of a reasonable valuation method not inconsistent with Section 409A of the Code. If the Stock is admitted to trade on a national securities exchange, the determination shall be made by reference to
the closing price reported on such exchange. If there is no closing price for such date, the determination shall be made by reference to the last date preceding such date for which there is a closing price. If the date for which Fair Market Value is
determined is the first day when trading prices for the Stock are reported on a national securities exchange, the Fair Market Value shall be the “Price to the Public” (or equivalent) set forth on the cover page for the final prospectus
relating to the Company’s Initial Public Offering. 
 “Good Reason” shall have the meaning as set forth in the Award
Agreement(s). In the case that any Award Agreement does not contain a definition of “Good Reason,” it shall mean (i) a material diminution in the grantee’s base salary except for across-the-board salary reductions similarly
affecting all or substantially all similarly situated employees of the Company or (ii) a change of more than 50 miles in the geographic location at which the grantee provides services to the Company, so long as the grantee provides at least 90
days’ notice to the Company following the initial occurrence of any such event and the Company fails to cure such event within 30 days thereafter. 

  
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 “Grant Date” means the date that the Committee designates in its approval of an
Award in accordance with applicable law as the date on which the Award is granted, which date may not precede the date of such Committee approval. 

“Holder” means, with respect to an Award or any Shares, the Person holding such Award or Shares, including the initial
recipient of the Award or any Permitted Transferee. 
 “Incentive Stock Option” means any Stock Option designated and
qualified as an “incentive stock option” as defined in Section 422 of the Code. 
 “Initial Public Offering”
means the consummation of the first firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale by the Company of its equity securities, as a result of or
following which such equity securities shall be publicly held. 
 “Non-Qualified Stock Option” means any Stock Option that
is not an Incentive Stock Option. 
 “Option” or “Stock Option” means any option to purchase shares of
Stock granted pursuant to Section 5. 
 “Permitted Transferees” shall mean any of the following to whom a Holder may
transfer Shares hereunder (as set forth in Section 9(a)(ii)(A)): the Holder’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Holder’s household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial
interest, a foundation in which these persons control the management of assets, and any other entity in which these persons own more than fifty percent of the voting interests; provided, however, that any such trust does not require or permit
distribution of any Shares during the term of the Award Agreement unless subject to its terms. Upon the death of the Holder, the term Permitted Transferees shall also include such deceased Holder’s estate, executors, administrators, personal
representatives, heirs, legatees and distributees, as the case may be. 
 “Person” shall mean any individual, corporation,
partnership (limited or general), limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 

“Repurchase Event” means (i) a Termination Event, (ii) a Sale Event, (iii) the Holder’s Bankruptcy or
(iv) the Company’s Initial Public Offering. 
 “Restricted Stock Award” means Awards granted pursuant to
Section 6 and “Restricted Stock” means Shares issued pursuant to such Awards. 

  
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 “Restricted Stock Unit” means an Award of phantom stock units to a
grantee, which may be settled in cash or Shares as determined by the Committee, pursuant to Section 8. 
 “Sale
Event” means the consummation of (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity,
(iii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the surviving or
resulting entity (or its ultimate parent, if applicable), (iv) the acquisition of all or a majority of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a Person or group of Persons, or
(v) any other acquisition of the business of the Company, as determined by the Board; provided, however, that the Company’s Initial Public Offering, any subsequent public offering or another capital raising event, or a merger
effected solely to change the Company’s domicile shall not constitute a “Sale Event.” 
 “Section
409A” means Section 409A of the Code and the regulations and other guidance promulgated thereunder. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder. 

“Service Relationship” means any relationship as a full-time employee, part-time employee, director or other key person
(including Consultants) of the Company or any Subsidiary or any successor entity (e.g., a Service Relationship shall be deemed to continue without interruption in the event an individual’s status changes from full-time employee to part-time
employee or Consultant). 
 “Shares” means shares of Stock. 

“Stock” means the Common Stock, par value $0.01 per share, of the Company. 

“Subsidiary” means any corporation or other entity (other than the Company) in which the Company has more than a 50 percent
interest, either directly or indirectly. 
 “Ten Percent Owner” means an employee who owns or is deemed to own (by reason
of the attribution rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent of the Company or any Subsidiary. 

“Termination Event” means the termination of the Award recipient’s Service Relationship with the Company and/or its
Subsidiaries for any reason whatsoever, regardless of the circumstances thereof, and including, without limitation, upon death, disability, retirement, discharge or resignation for any reason, whether voluntarily or involuntarily. The following
shall not constitute a Termination Event: (i) a transfer to the service of the Company from a Subsidiary or from the Company to a Subsidiary or from one Subsidiary to another Subsidiary or (ii) an approved leave of absence for military
service or sickness, or for any other purpose approved by the Committee, if the individual’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if
the Committee otherwise so provides in writing. 

  
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 “Unrestricted Stock Award” means any Award granted pursuant to Section 7
and “Unrestricted Stock” means Shares issued pursuant to such Awards. 
  

	SECTION 2.	ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS 

 (a)
Administration of Plan. The Plan shall be administered by the Board, or at the discretion of the Board, by a committee of the Board, comprised of not less than two directors. All references herein to the “Committee” shall be deemed
to refer to the group then responsible for administration of the Plan at the relevant time (i.e., either the Board of Directors or a committee or committees of the Board, as applicable). 

(b) Powers of Committee. The Committee shall have the power and authority to grant Awards consistent with the terms of the Plan,
including the power and authority: 
 (i) to select the individuals to whom Awards may from time to time be granted; 

(ii) to determine the time or times of grant, and the amount, if any, of Incentive Stock Options,
Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted Stock Awards, Restricted Stock Units, or any combination of the foregoing, granted to any one or more grantees; 

(iii) to determine the number of Shares to be covered by any Award and, subject to the provisions of the Plan, the price, exercise price,
conversion ratio or other price relating thereto; 
 (iv) to determine and, subject to Section 12, to modify from time to time the terms
and conditions, including restrictions, not inconsistent with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve the form of Award Agreements; 

(v) to accelerate at any time the exercisability or vesting of all or any portion of any Award; 

(vi) to impose any limitations on Awards, including limitations on transfers, repurchase provisions and the like, and to exercise repurchase
rights or obligations; 
 (vii) subject to Section 5(a)(ii) and any restrictions imposed by Section 409A, to extend at any time the
period in which Stock Options may be exercised; and 
 (viii) at any time to adopt, alter and repeal such rules, guidelines and practices for
administration of the Plan and for its own acts and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including Award Agreements); to make all determinations it deems advisable for the
administration of the Plan; to decide all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan. 

  
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 All decisions and interpretations of the Committee shall be binding on all persons, including the Company and all
Holders. 
 (c) Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and
limitations for each Award. 
 (d) Indemnification. Neither the Board nor the Committee, nor any member of either or any delegate
thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members of the Board and the Committee (and any delegate thereof) shall be entitled in all cases to
indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under the
Company’s governing documents, including its certificate of incorporation or bylaws, or any directors’ and officers’ liability insurance coverage which may be in effect from time to time and/or any indemnification agreement between
such individual and the Company. 
 (e) Foreign Award Recipients. Notwithstanding any provision of the Plan to the contrary, in order
to comply with the laws in other countries in which the Company and any Subsidiary operate or have employees or other individuals eligible for Awards, the Committee, in its sole discretion, shall have the power and authority to: (i) determine
which Subsidiaries, if any, shall be covered by the Plan; (ii) determine which individuals, if any, outside the United States are eligible to participate in the Plan; (iii) modify the terms and conditions of any Award granted to
individuals outside the United States to comply with applicable foreign laws; (iv) establish subplans and modify exercise procedures and other terms and procedures, to the extent the Committee determines such actions to be necessary or
advisable (and such subplans and/or modifications shall be attached to the Plan as appendices); provided, however, that no such subplans and/or modifications shall increase the share limitation contained in Section 3(a) hereof;
and (v) take any action, before or after an Award is made, that the Committee determines to be necessary or advisable to obtain approval or comply with any local governmental regulatory exemptions or approvals. 

 

	SECTION 3.	STOCK ISSUABLE UNDER THE PLAN; MERGERS AND OTHER TRANSACTIONS; SUBSTITUTION 

 (a)
Stock Issuable. The maximum number of Shares reserved and available for issuance under the Plan shall be 4,000,000 Shares, subject to adjustment as provided in Section 3(b). For purposes of this limitation, the Shares underlying any
Awards that are forfeited, canceled, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or otherwise terminated (other than by exercise) and Shares that are withheld upon exercise of an Option or settlement of an
Award to cover the exercise price or tax withholding shall be added back to the Shares available for issuance under the Plan. Subject to such overall limitations, Shares may be issued up to such maximum number pursuant to any type or types of Award
and no more than 3,000,000 Shares may be issued pursuant to Incentive Stock Options. The Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company. Beginning on the date that the Company
becomes subject to Section 162(m) of the Code, Options with respect to no more than 1,000,000 Shares shall be granted to any one individual in any calendar year period. 

  
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 (b) Changes in Stock. Subject to Section 3(c) hereof, if, as a result of any
reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding Shares are increased or decreased or are exchanged for a different
number or kind of shares or other securities of the Company, or additional Shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such Shares or other securities, in each case,
without the receipt of consideration by the Company, or, if, as a result of any merger or consolidation, or sale of all or substantially all of the assets of the Company, the outstanding Shares are converted into or exchanged for other securities of
the Company or any successor entity (or a parent or subsidiary thereof), the Committee shall make an appropriate and proportionate adjustment in (i) the maximum number of Shares reserved for issuance under the Plan, (ii) the number and
kind of Shares or other securities subject to any then outstanding Awards under the Plan, (iii) the repurchase price, if any, per Share subject to each outstanding Award, and (iv) the exercise price for each Share subject to any then
outstanding Stock Options under the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number of Stock Options) as to which such Stock Options remain exercisable. The Committee shall also make equitable
or proportionate adjustments in the number of Shares subject to outstanding Awards and the exercise price and the terms of outstanding Awards to take into consideration cash dividends paid other than in the ordinary course or any other extraordinary
corporate event. The Committee shall in any event make such adjustments as may be required by Section 25102(o) of the California Corporation Code and the rules and regulations promulgated thereunder. The adjustment by the Committee shall be
final, binding and conclusive. No fractional Shares shall be issued under the Plan resulting from any such adjustment, but the Committee in its discretion may make a cash payment in lieu of fractional shares. 

(c) Sale Events. 
 (i)
Options. 
 (A) In the case of and subject to the consummation of a Sale Event, the Plan and all outstanding Options
issued hereunder shall terminate upon the effective time of any such Sale Event unless assumed or continued by the successor entity, or new stock options or other awards of the successor entity or parent thereof are substituted therefor, with an
equitable or proportionate adjustment as to the number and kind of shares and, if appropriate, the per share exercise prices, as such parties shall agree (after taking into account any acceleration hereunder and/or pursuant to the terms of any Award
Agreement). 
 (B) In the event of the termination of the Plan and all outstanding Options issued hereunder pursuant to
Section 3(c), each Holder of Options shall be permitted, within a period of time prior to the consummation of the Sale Event as specified by the Committee, to exercise all such Options which are then exercisable or will become exercisable as of
the effective time of the Sale Event; provided, however, that the exercise of Options not exercisable prior to the Sale Event shall be subject to the consummation of the Sale Event. 

  
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 (C) Notwithstanding anything to the contrary in Section 3(c)(i)(A), in the
event of a Sale Event, the Company shall have the right, but not the obligation, to make or provide for a cash payment to the Holders of Options, without any consent of the Holders, in exchange for the cancellation thereof, in an amount equal to the
difference between (A) the value as determined by the Committee of the consideration payable per share of Stock pursuant to the Sale Event (the “Sale Price”) times the number of Shares subject to outstanding Options being cancelled
(to the extent then vested and exercisable, including by reason of acceleration in connection with such Sale Event, at prices not in excess of the Sale Price) and (B) the aggregate exercise price of all such outstanding vested and exercisable
Options. 
 (ii) Restricted Stock and Restricted Stock Unit Awards. 

(A) In the case of and subject to the consummation of a Sale Event, all unvested Restricted Stock and unvested Restricted Stock
Unit Awards (other than those becoming vested as a result of the Sale Event) issued hereunder shall be forfeited immediately prior to the effective time of any such Sale Event unless assumed or continued by the successor entity, or awards of the
successor entity or parent thereof are substituted therefor, with an equitable or proportionate adjustment as to the number and kind of shares subject to such awards as such parties shall agree (after taking into account any acceleration hereunder
and/or pursuant to the terms of any Award Agreement). 
 (B) In the event of the forfeiture of unvested Restricted Stock
pursuant to Section 3(c)(ii)(A), such Restricted Stock shall be repurchased from the Holder thereof at a price per share equal to the lower of the original per share purchase price paid by the Holder (subject to adjustment as provided in
Section 3(b)) (or $0 if the Holder did not pay any original per share purchase price) or the current Fair Market Value of such Shares, determined immediately prior to the effective time of the Sale Event. 

(C) Notwithstanding anything to the contrary in Section 3(c)(ii)(A), in the event of a Sale Event, the Company shall have
the right, but not the obligation, to make or provide for a cash payment to the Holders of Restricted Stock or Restricted Stock Unit Awards, without consent of the Holders, in exchange for the cancellation thereof, in an amount equal to the Sale
Price times the number of Shares subject to such Awards, to be paid at the time of such Sale Event or upon the later vesting of such Awards. 
  

	SECTION 4.	ELIGIBILITY 

 Grantees under the Plan will be such full or part-time officers and other
employees, directors, Consultants and key persons of the Company and any Subsidiary who are selected from time to time by the Committee in its sole discretion; provided, however, that Awards shall be granted only to those individuals
described in Rule 701(c) of the Securities Act. 

  
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	SECTION 5.	STOCK OPTIONS 

 Upon the grant of a Stock Option, the Company and the grantee shall
enter into an Award Agreement. The terms and conditions of each such Award Agreement shall be determined by the Committee, and such terms and conditions may differ among individual Awards and grantees. 

Stock Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options may be
granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall be
deemed a Non-Qualified Stock Option. 
 (a) Terms of Stock Options. The Committee in its discretion may grant Stock Options to those
individuals who meet the eligibility requirements of Section 4. Stock Options shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the
Committee shall deem desirable. 
 (i) Exercise Price. The exercise price per share for the Shares covered by a Stock Option shall be
determined by the Committee at the time of grant but shall not be less than 100 percent of the Fair Market Value on the Grant Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the exercise price per share for the
Shares covered by such Incentive Stock Option shall not be less than 110 percent of the Fair Market Value on the Grant Date. 
 (ii)
Option Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more than ten years from the Grant Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the
term of such Stock Option shall be no more than five years from the Grant Date. 
 (iii) Exercisability; Rights of a Stockholder.
Stock Options shall become exercisable and/or vested at such time or times, whether or not in installments, as shall be determined by the Committee at or after the Grant Date. The Award Agreement may permit a grantee to exercise all or a portion of
a Stock Option immediately at grant; provided that the Shares issued upon such exercise shall be subject to restrictions and a vesting schedule identical to the vesting schedule of the related Stock Option, such Shares shall be deemed to be
Restricted Stock for purposes of the Plan, and the optionee may be required to enter into an additional or new Award Agreement as a condition to exercise of such Stock Option. An optionee shall have the rights of a stockholder only as to Shares
acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. An optionee shall not be deemed to have acquired any Shares unless and until a Stock Option shall have been exercised pursuant to the terms of the Award Agreement
and this Plan and the optionee’s name has been entered on the books of the Company as a stockholder. 
 (iv) Method of Exercise.
Stock Options may be exercised by an optionee in whole or in part, by the optionee giving written or electronic notice of exercise to the Company, specifying the number of Shares to be purchased. Payment of the purchase price may be made by one or
more of the following methods (or any combination thereof) to the extent provided in the Award Agreement: 

  
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 (A) In cash, by certified or bank check, by wire transfer of immediately
available funds, or other instrument acceptable to the Committee; 
 (B) If permitted by the Committee, by the optionee
delivering to the Company a promissory note, if the Board has expressly authorized the loan of funds to the optionee for the purpose of enabling or assisting the optionee to effect the exercise of his or her Stock Option; provided, that at
least so much of the exercise price as represents the par value of the Stock shall be paid in cash if required by state law; 

(C) If permitted by the Committee and the Company’s Initial Public Offering has occurred (or the Stock otherwise becomes
publicly-traded), through the delivery (or attestation to the ownership) of Shares that have been purchased by the optionee on the open market or that are beneficially owned by the optionee and are not then subject to restrictions under any Company
plan. To the extent required to avoid variable accounting treatment under ASC 718 or other applicable accounting rules, such surrendered Shares if originally purchased from the Company shall have been owned by the optionee for at least six months.
Such surrendered Shares shall be valued at Fair Market Value on the exercise date; 
 (D) If permitted by the Committee and
the Company’s Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), by the optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly
deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided that in the event the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply with such
procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition of such payment procedure; or 

(E) If permitted by the Committee, and only with respect to Stock Options that are not Incentive Stock Options, by a “net
exercise” arrangement pursuant to which the Company will reduce the number of Shares issuable upon exercise by the largest whole number of Shares with a Fair Market Value that does not exceed the aggregate exercise price. 

Payment instruments will be received subject to collection. No certificates for Shares so purchased will be issued to the optionee or, with
respect to uncertificated Stock, no transfer to the optionee on the records of the Company will take place, until the Company has completed all steps it has deemed necessary to satisfy legal requirements relating to the issuance and sale of the
Shares, which steps may include, without limitation, (i) receipt of a representation from the optionee at the time of exercise of the Option that the optionee is purchasing the Shares for the optionee’s own account and not with a view to
any sale or distribution of the Shares or other representations relating to compliance with applicable law governing the issuance of securities, (ii) the legending of the certificate (or notation on any book entry) representing the Shares to

  
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evidence the foregoing restrictions, and (iii) obtaining from optionee payment or provision for all withholding taxes due as a result of the exercise of the Option. The delivery of
certificates representing the shares of Stock (or the transfer to the optionee on the records of the Company with respect to uncertificated Stock) to be purchased pursuant to the exercise of a Stock Option will be contingent upon (A) receipt
from the optionee (or a purchaser acting in his or her stead in accordance with the provisions of the Stock Option) by the Company of the full purchase price for such Shares and the fulfillment of any other requirements contained in the Award
Agreement or applicable provisions of laws and (B) if required by the Company, the optionee shall have entered into any stockholders agreements or other agreements with the Company and/or certain other of the Company’s stockholders
relating to the Stock. In the event an optionee chooses to pay the purchase price by previously-owned Shares through the attestation method, the number of Shares transferred to the optionee upon the exercise of the Stock Option shall be net of the
number of Shares attested to. 
 (b) Annual Limit on Incentive Stock Options. To the extent required for “incentive stock
option” treatment under Section 422 of the Code, the aggregate Fair Market Value (determined as of the Grant Date) of the Shares with respect to which Incentive Stock Options granted under the Plan and any other plan of the Company or its
parent and any Subsidiary that become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000 or such other limit as may be in effect from time to time under Section 422 of the Code. To the extent that
any Stock Option exceeds this limit, it shall constitute a Non-Qualified Stock Option. 
 (c) Termination. Any portion of a Stock
Option that is not vested and exercisable on the date of termination of an optionee’s Service Relationship shall immediately expire and be null and void. Once any portion of the Stock Option becomes vested and exercisable, the optionee’s
right to exercise such portion of the Stock Option (or the optionee’s representatives and legatees as applicable) in the event of a termination of the optionee’s Service Relationship shall continue until the earliest of: (i) the date
which is: (A) twelve months following the date on which the optionee’s Service Relationship terminates due to death or Disability (or such longer period of time as determined by the Committee and set forth in the applicable Award
Agreement), or (B) three months following the date on which the optionee’s Service Relationship terminates if the termination is due to any reason other than death or Disability (or such longer period of time as determined by the Committee
and set forth in the applicable Award Agreement), or (ii) the Expiration Date set forth in the Award Agreement; provided that notwithstanding the foregoing, an Award Agreement may provide that if the optionee’s Service Relationship
is terminated for Cause, the Stock Option shall terminate immediately and be null and void upon the date of the optionee’s termination and shall not thereafter be exercisable. 

 

	SECTION 6.	RESTRICTED STOCK AWARDS 

 (a) Nature of Restricted Stock Awards. The Committee
may, in its sole discretion, grant (or sell at par value or such other purchase price determined by the Committee) to an eligible individual under Section 4 hereof a Restricted Stock Award under the Plan. The Committee shall determine the
restrictions and conditions applicable to each Restricted Stock Award at the time of grant. Conditions may be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals and objectives and/or

  
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such other criteria as the Committee may determine. Upon the grant of a Restricted Stock Award, the Company and the grantee shall enter into an Award Agreement. The terms and conditions of each
such Award Agreement shall be determined by the Committee, and such terms and conditions may differ among individual Awards and grantees. 

(b) Rights as a Stockholder. Upon the grant of the Restricted Stock Award and payment of any applicable purchase price, a grantee of
Restricted Stock shall be considered the record owner of and shall be entitled to vote the Restricted Stock if, and to the extent, such Shares are entitled to voting rights, subject to such conditions contained in the Award Agreement. The grantee
shall be entitled to receive all dividends and any other distributions declared on the Shares; provided, however, that the Company is under no duty to declare any such dividends or to make any such distribution. Unless the Committee
shall otherwise determine, certificates evidencing the Restricted Stock shall remain in the possession of the Company until such Restricted Stock is vested as provided in subsection (d) below of this Section, and the grantee shall be required,
as a condition of the grant, to deliver to the Company a stock power endorsed in blank and such other instruments of transfer as the Committee may prescribe. 

(c) Restrictions. Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as
specifically provided herein or in the Award Agreement. Except as may otherwise be provided by the Committee either in the Award Agreement or, subject to Section 12 below, in writing after the Award Agreement is issued, if a grantee’s
Service Relationship with the Company and any Subsidiary terminates, the Company or its assigns shall have the right, as may be specified in the relevant instrument, to repurchase some or all of the Shares subject to the Award at such purchase price
as is set forth in the Award Agreement. 
 (d) Vesting of Restricted Stock. The Committee at the time of grant shall specify in the
Award Agreement the date or dates and/or the attainment of pre-established performance goals, objectives and other conditions on which the substantial risk of forfeiture imposed shall lapse and the Restricted
Stock shall become vested, subject to such further rights of the Company or its assigns as may be specified in the Award Agreement. 
  

	SECTION 7.	UNRESTRICTED STOCK AWARDS 

 The Committee may, in its sole discretion, grant (or sell at
par value or such other purchase price determined by the Committee) to an eligible person under Section 4 hereof an Unrestricted Stock Award under the Plan. Unrestricted Stock Awards may be granted in respect of past services or other valid
consideration, or in lieu of cash compensation due to such grantee. 
  

	SECTION 8.	RESTRICTED STOCK UNITS 

 (a) Nature of Restricted Stock Units. The Committee may,
in its sole discretion, grant to an eligible person under Section 4 hereof Restricted Stock Units under the Plan. The Committee shall determine the restrictions and conditions applicable to each Restricted Stock Unit at the time of grant.
Vesting conditions may be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals and objectives and/or 

  
 12 

 
other such criteria as the Committee may determine. Upon the grant of Restricted Stock Units, the grantee and the Company shall enter into an Award Agreement. The terms and conditions of each
such Award Agreement shall be determined by the Committee and may differ among individual Awards and grantees. On or promptly following the vesting date or dates applicable to any Restricted Stock Unit, but in no event later than March 15 of
the year following the year in which such vesting occurs, such Restricted Stock Unit(s) shall be settled in the form of cash or shares of Stock, as specified in the Award Agreement. Restricted Stock Units may not be sold, assigned, transferred,
pledged, or otherwise encumbered or disposed of. 
 (b) Rights as a Stockholder. A grantee shall have the rights of a stockholder only
as to Shares, if any, acquired upon settlement of Restricted Stock Units. A grantee shall not be deemed to have acquired any such Shares unless and until the Restricted Stock Units shall have been settled in Shares pursuant to the terms of the Plan
and the Award Agreement, the Company shall have issued and delivered a certificate representing the Shares to the grantee (or transferred on the records of the Company with respect to uncertificated stock), and the grantee’s name has been
entered in the books of the Company as a stockholder. 
 (c) Termination. Except as may otherwise be provided by the Committee either
in the Award Agreement or in writing after the Award Agreement is issued, a grantee’s right in all Restricted Stock Units that have not vested shall automatically terminate upon the grantee’s cessation of Service Relationship with the
Company and any Subsidiary for any reason. 
  

	SECTION 9.	TRANSFER RESTRICTIONS; COMPANY RIGHT OF FIRST REFUSAL; COMPANY REPURCHASE RIGHTS 

 (a)
Restrictions on Transfer. 
 (i) Non-Transferability of Stock Options. Stock Options and, prior to exercise, the Shares
issuable upon exercise of such Stock Option, shall not be transferable by the optionee otherwise than by will, or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the optionee’s lifetime, only by the
optionee, or by the optionee’s legal representative or guardian in the event of the optionee’s incapacity. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide in the Award Agreement regarding a given Stock
Option that the optionee may transfer by gift, without consideration for the transfer, his or her Non-Qualified Stock Options to his or her family members (as defined in Rule 701 of the Securities Act), to
trusts for the benefit of such family members, or to partnerships in which such family members are the only partners (to the extent such trusts or partnerships are considered “family members” for purposes of Rule 701 of the Securities
Act), provided that the transferee agrees in writing with the Company to be bound by all of the terms and conditions of this Plan and the applicable Award Agreement, including the execution of a stock power upon the issuance of Shares. Stock
Options, and the Shares issuable upon exercise of such Stock Options, shall be restricted as to any pledge, hypothecation, or other transfer, including any short position, any “put equivalent position” (as defined in the Exchange Act) or
any “call equivalent position” (as defined in the Exchange Act) prior to exercise. 

  
 13 

 (ii) Shares. No Shares shall be sold, assigned, transferred, pledged, hypothecated, given
away or in any other manner disposed of or encumbered, whether voluntarily or by operation of law, unless (i) the transfer is in compliance with the terms of the applicable Award Agreement, all applicable securities laws (including, without
limitation, the Securities Act), and with the terms and conditions of this Section 9, (ii) the transfer does not cause the Company to become subject to the reporting requirements of the Exchange Act, and (iii) the transferee consents
in writing to be bound by the provisions of the Plan and the Award Agreement, including this Section 9. In connection with any proposed transfer, the Committee may require the transferor to provide at the transferor’s own expense an
opinion of counsel to the transferor, satisfactory to the Committee, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation, the Securities Act). Any attempted transfer of Shares not in
accordance with the terms and conditions of this Section 9 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Shares as a result of any such transfer, shall otherwise refuse to
recognize any such transfer and shall not in any way give effect to any such transfer of Shares. The Company shall be entitled to seek protective orders, injunctive relief and other remedies available at law or in equity including, without
limitation, seeking specific performance or the rescission of any transfer not made in strict compliance with the provisions of this Section 9. Subject to the foregoing general provisions, and unless otherwise provided in the applicable Award
Agreement, Shares may be transferred pursuant to the following specific terms and conditions (provided that with respect to any transfer of Restricted Stock, all vesting and forfeiture provisions shall continue to apply with respect to the original
recipient): 
 (A) Transfers to Permitted Transferees. The Holder may transfer any or all of the Shares to one or more
Permitted Transferees; provided, however, that following such transfer, such Shares shall continue to be subject to the terms of this Plan (including this Section 9) and such Permitted Transferee(s) shall, as a condition to any such
transfer, deliver a written acknowledgment to that effect to the Company and shall deliver a stock power to the Company with respect to the Shares. Notwithstanding the foregoing, the Holder may not transfer any of the Shares to a Person whom the
Company reasonably determines is a direct competitor or a potential competitor of the Company or any of its Subsidiaries. 

(B) Transfers Upon Death. Upon the death of the Holder, any Shares then held by the Holder at the time of such death and
any Shares acquired after the Holder’s death by the Holder’s legal representative shall be subject to the provisions of this Plan, and the Holder’s estate, executors, administrators, personal representatives, heirs, legatees and
distributees shall be obligated to convey such Shares to the Company or its assigns under the terms contemplated by the Plan and the Award Agreement. 

(b) Right of First Refusal. In the event that a Holder desires at any time to sell or otherwise transfer all or any part of his or her
Shares (other than shares of Restricted Stock which by their terms are not transferrable), the Holder first shall give written notice to the Company of the Holder’s intention to make such transfer. Such notice shall state the number of Shares
that the Holder proposes to sell (the “Offered Shares”), the price and the terms at which the proposed sale is to be made and the name and address of the proposed transferee. At any time within 30 days after the receipt of such notice by
the Company, the Company or its assigns 

  
 14 

 
may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered by the proposed transferee and specified in the notice. The Company or its assigns shall
exercise this right by mailing or delivering written notice to the Holder within the foregoing 30-day period. If the Company or its assigns elect to exercise its purchase rights under this Section 9(b), the closing for such purchase shall, in
any event, take place within 45 days after the receipt by the Company of the initial notice from the Holder. In the event that the Company or its assigns do not elect to exercise such purchase right, or in the event that the Company or its assigns
do not pay the full purchase price within such 45-day period, the Holder may, within 60 days thereafter, sell the Offered Shares to the proposed transferee and at the same price and on the same terms as specified in the Holder’s notice. Any
Shares not sold to the proposed transferee shall remain subject to the Plan. If the Holder is a party to any stockholders agreements or other agreements with the Company and/or certain other of the Company’s stockholders relating to the Shares,
(i) the transferring Holder shall comply with the requirements of such stockholders agreements or other agreements relating to any proposed transfer of the Offered Shares, and (ii) any proposed transferee that purchases Offered Shares
shall enter into such stockholders agreements or other agreements with the Company and/or certain of the Company’s stockholders relating to the Offered Shares on the same terms and in the same capacity as the transferring Holder. 

(c) Company’s Right of Repurchase. 

(i) Right of Repurchase for Shares Issued Upon the Exercise of an Option. The Company or its assigns shall have the right and option
upon a Repurchase Event to repurchase from a Holder some or all (as determined by the Company) of the Shares acquired upon exercise of a Stock Option by such Holder at the price per share specified below. In addition, upon a Termination Event, the
Company or its assigns shall have the right and option to repurchase from a Holder of Shares acquired upon exercise of a Stock Option which are still subject to a risk of forfeiture as of the Termination Event. Such repurchase rights may be
exercised by the Company within the later of (A) six months following the date of such Repurchase Event or (B) seven months after the acquisition of Shares upon exercise of a Stock Option. The repurchase price shall be equal to (i) in
the case of Shares that are not subject to a risk of forfeiture as of the Repurchase Event, the Fair Market Value of the Shares, determined as of the date the Company elects to exercise its repurchase rights in connection with a Repurchase Event and
(ii) in the case of Shares that are still subject to a risk of forfeiture as of the Repurchase Event or Termination Event (as applicable), the lower of the original per share price paid by the Holder, subject to adjustment as provided in
Section 3(b) of the Plan, or the current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights in connection with a Repurchase Event or Termination Event (as applicable). 

(ii) Right of Repurchase With Respect to Restricted Stock and Shares issued pursuant to an Unrestricted Stock Award or Restricted Stock Unit
Award. Unless otherwise set forth in the Award Agreement in connection with a Restricted Stock Award, Unrestricted Stock Award or Restricted Stock Unit Award, the Company or its assigns shall have the right and option upon a Repurchase Event to
repurchase from a Holder of Shares received pursuant to a Restricted Stock Award, Unrestricted Stock Award or Restricted Stock Unit Award some or all (as determined by the Company) of such Shares at the price per share specified below. In addition,
upon a Termination Event, the Company or its assigns shall have the right and option to 

  
 15 

 
repurchase from a Holder of Shares received pursuant to a Restricted Stock Award any Shares that are still subject to a risk of forfeiture as of the Termination Event. Such repurchase right may
be exercised by the Company within six months following the date of such Repurchase Event or Termination Event as applicable. The repurchase price shall be (i) in the case of Shares that are vested as of the date of the Repurchase Event, the
Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights in connection with a Repurchase Event and (ii) in the case of Shares that are still subject to a risk of forfeiture as of the date of the
Repurchase Event or Termination Event (as applicable), the lower of the original per share purchase price paid by the Holder, subject to adjustment as provided in Section 3(b) of the Plan (or $0 if the Holder did not pay any original per share
purchase price), or the current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights in connection with a Repurchase Event or Termination Event (as applicable). 

(iii) Procedure. Any repurchase right of the Company shall be exercised by the Company or its assigns by giving the Holder written
notice on or before the last day of the repurchase period of its intention to exercise such repurchase right. Upon such notification, the Holder shall promptly surrender to the Company, free and clear of any liens or encumbrances, any certificates
representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates
from the Holder, the Company or its assignee or assignees shall deliver to him, her or them a check for the applicable repurchase price; provided, however, that the Company may pay the repurchase price by offsetting and canceling any
indebtedness then owed by the Holder to the Company. 
 (d) Escrow Arrangement. 

(i) Escrow. In order to carry out the provisions of this Section 9 of this Plan more effectively, the Company shall hold any Shares
issued pursuant to Awards granted under the Plan in escrow together with separate stock powers executed by the Holder in blank for transfer. The Company shall not dispose of the Shares except as otherwise provided in this Plan. In the event of any
repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Holder, as the Holder’s attorney-in-fact, to date and complete the stock powers necessary for the transfer of the Shares being purchased and to transfer
such Shares in accordance with the terms hereof. At such time as any Shares are no longer subject to the Company’s repurchase and first refusal rights, the Company shall, at the written request of the Holder, deliver to the Holder a certificate
representing such Shares with the balance of the Shares to be held in escrow pursuant to this Section. 
 (ii) Remedy. Without
limitation of any other provision of this Plan or other rights, in the event that a Holder or any other Person is required to sell a Holder’s Shares pursuant to the provisions of Sections 9(b) or (c) hereof and in the further event that he
or she refuses or for any reason fails to deliver to the Company or its designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, the Company or such designated purchaser may
deposit the applicable purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for such Holder or other Person, to be held by such bank
or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in 

  
 16 

 
its discretion, pay such purchase price by offsetting any indebtedness then owed by such Holder as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser
of such amount and upon notice to the Person who was required to sell the Shares to be sold pursuant to the provisions of Sections 9(b) or (c), such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such
purchaser, such Holder shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

 (e) Lockup Provision. If requested by the Company, a Holder shall not sell or otherwise transfer or dispose of any Shares
(including, without limitation, pursuant to Rule 144 under the Securities Act) held by him or her for such period following the effective date of a public offering by the Company of Shares as the Company shall specify reasonably and in good faith.
If requested by the underwriter engaged by the Company, each Holder shall execute a separate letter confirming his or her agreement to comply with this Section. 

(f) Adjustments for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reclassification, stock
dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding Shares are increased or decreased or are exchanged for a different number or kind of securities of the Company, the restrictions contained in
this Section 9 shall apply with equal force to additional and/or substitute securities, if any, received by Holder in exchange for, or by virtue of his or her ownership of, Shares. 

(g) Termination. The terms and provisions of Section 9(b) and Section 9(c) (except for the Company’s right to repurchase
Shares still subject to a risk of forfeiture upon a Termination Event) shall terminate upon the closing of the Company’s Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which Shares are registered
under Section 12 of the Exchange Act and publicly-traded on any national security exchange. 
  

	SECTION 10.	TAX WITHHOLDING 

 (a) Payment by Grantee. Each grantee shall, no later than the
date as of which the value of an Award or of any Shares or other amounts received thereunder first becomes includable in the gross income of the grantee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee
regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and any Subsidiary shall, to the extent permitted by law, have the right to deduct any such
taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation to deliver stock certificates (or evidence of book entry) to any grantee is subject to and conditioned on any such tax withholding obligations being
satisfied by the grantee. 
 (b) Payment in Stock. The Company’s minimum required tax withholding obligation may be satisfied, in
whole or in part, by the Company withholding from Shares to be issued pursuant to an Award a number of Shares having an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the minimum withholding amount due.

  
 17 

	SECTION 11.	SECTION 409A AWARDS. 

 To the extent that any Award is determined to constitute
“nonqualified deferred compensation” within the meaning of Section 409A (a “409A Award”), the Award shall be subject to such additional rules and requirements as may be specified by the Committee from time to time. In this
regard, if any amount under a 409A Award is payable upon a “separation from service” (within the meaning of Section 409A) to a grantee who is considered a “specified employee” (within the meaning of Section 409A), then
no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the grantee’s separation from service, or (ii) the grantee’s death, but only to the extent such delay is necessary to prevent
such payment from being subject to interest, penalties and/or additional tax imposed pursuant to Section 409A. The Company makes no representation or warranty and shall have no liability to any grantee under the Plan or any other Person with
respect to any penalties or taxes under Section 409A that are, or may be, imposed with respect to any Award. 
  

	SECTION 12.	AMENDMENTS AND TERMINATION 

 The Board may, at any time, amend or discontinue the Plan
and the Committee may, at any time, amend or cancel any outstanding Award for the purpose of satisfying changes in law or for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Award without the consent
of the holder of the Award. The Committee may exercise its discretion to reduce the exercise price of outstanding Stock Options or effect repricing through cancellation of outstanding Stock Options and by granting such holders new Awards in
replacement of the cancelled Stock Options. To the extent determined by the Committee to be required either by the Code to ensure that Incentive Stock Options granted under the Plan are qualified under Section 422 of the Code or otherwise, Plan
amendments shall be subject to approval by the Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 12 shall limit the Board’s or Committee’s authority to take any action permitted pursuant to
Section 3(c). The Board reserves the right to amend the Plan and/or the terms of any outstanding Stock Options to the extent reasonably necessary to comply with the requirements of the exemption pursuant to paragraph (f)(4) of Rule 12h-1 of the
Exchange Act. 
  

	SECTION 13.	STATUS OF PLAN 

 With respect to the portion of any Award that has not been exercised and
any payments in cash, Stock or other consideration not received by a grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Committee shall otherwise expressly so determine in connection with any
Award. 
  

	SECTION 14.	GENERAL PROVISIONS 

 (a) No Distribution; Compliance with Legal Requirements. The
Committee may require each person acquiring Shares pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to distribution thereof. No Shares shall be issued pursuant to an
Award until all applicable securities law and other legal and stock exchange or similar requirements have been satisfied. The Committee may require the placing of such stop-orders and restrictive legends on certificates for Stock and Awards as it
deems appropriate. 

  
 18 

 (b) Delivery of Stock Certificates. Stock certificates to grantees under the Plan shall be
deemed delivered for all purposes when the Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the grantee, at the grantee’s last known address on file with the Company;
provided that stock certificates to be held in escrow pursuant to Section 9 of the Plan shall be deemed delivered when the Company shall have recorded the issuance in its records. Uncertificated Stock shall be deemed delivered for all purposes
when the Company or a stock transfer agent of the Company shall have given to the grantee by electronic mail (with proof of receipt) or by United States mail, addressed to the grantee, at the grantee’s last known address on file with the
Company, notice of issuance and recorded the issuance in its records (which may include electronic “book entry” records). 
 (c)
No Employment Rights. The adoption of the Plan and the grant of Awards do not confer upon any Person any right to continued employment or Service Relationship with the Company or any Subsidiary. 

(d) Trading Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to the Company’s insider trading
policy-related restrictions, terms and conditions as may be established by the Committee, or in accordance with policies set by the Committee, from time to time. 

(e) Designation of Beneficiary. Each grantee to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries
to exercise any Award on or after the grantee’s death or receive any payment under any Award payable on or after the grantee’s death. Any such designation shall be on a form provided for that purpose by the Committee and shall not be
effective until received by the Committee. If no beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate. 

(f) Legend. Any certificate(s) representing the Shares shall carry substantially the following legend (and with respect to
uncertificated Stock, the book entries evidencing such shares shall contain the following notation): 
 The transferability of this
certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions (including repurchase and restrictions against transfers) contained in the Wind Power Holdings, Inc. 2013 Stock Option and Grant Plan and
any agreements entered into thereunder by and between the company and the holder of this certificate (a copy of which is available at the offices of the company for examination). 

(g) Information to Holders of Options. In the event the Company is relying on the exemption from the registration requirements of
Section 12(g) of the Exchange Act contained in paragraph (f)(1) of Rule 12h-1 of the Exchange Act, the Company shall provide the information 

  
 19 

 
described in Rule 701(e)(3), (4) and (5) of the Securities Act to all holders of Options in accordance with the requirements thereunder. The foregoing notwithstanding, the Company shall
not be required to provide such information unless the optionholder has agreed in writing, on a form prescribed by the Company, to keep such information confidential. 
  

	SECTION 15.	EFFECTIVE DATE OF PLAN 

 The Plan shall become effective upon adoption by the Board and
shall be approved by stockholders in accordance with applicable state law and the Company’s articles of incorporation and bylaws within 12 months thereafter. If the stockholders fail to approve the Plan within 12 months after its adoption by
the Board of Directors, then any Awards granted or sold under the Plan shall be rescinded and no additional grants or sales shall thereafter be made under the Plan. Subject to such approval by stockholders and to the requirement that no Shares may
be issued hereunder prior to such approval, Stock Options and other Awards may be granted hereunder on and after adoption of the Plan by the Board. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the
date the Plan is adopted by the Board or the date the Plan is approved by the Company’s stockholders, whichever is earlier. 
  

	SECTION 16.	GOVERNING LAW 

 This Plan, all Awards and any controversy arising out of or relating to
this Plan and all Awards shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State
of Delaware. 
 DATE ADOPTED BY THE BOARD OF DIRECTORS:     November 25, 2013 

DATE APPROVED BY THE STOCKHOLDERS:               November 25, 2013 

  
 20 

  
 NON-QUALIFIED STOCK OPTION GRANT NOTICE 

UNDER THE WIND POWER HOLDINGS, INC. 

2013 STOCK OPTION AND GRANT PLAN 

Pursuant to the Wind Power Holdings, Inc. 2013 Stock Option and Grant Plan (the “Plan”), Wind Power Holdings, Inc., a Delaware
corporation (together with any successor, the “Company”), has granted to the individual named below, an option (the “Stock Option”) to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all
or any part of the number of shares of Common Stock, no par value per share (“Common Stock”), of the Company indicated below (the “Shares”), at the Option Exercise Price per share, subject to the terms and conditions set forth in
this Non-Qualified Stock Option Grant Notice (the “Grant Notice”), the attached Non-Qualified Stock Option Agreement (the “Agreement”) and the Plan. This Stock Option is not intended to qualify as an “incentive stock
option” as defined in Section 422(b) of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). 
  

					
	Name of Optionee:	 	                                    
     (the “Optionee”)
		
	No. of Shares:	 	                               
          Shares of Common Stock
			
	Grant Date:	 	  
	  	
		
	Vesting Commencement Date:	 	                                    
     (the “Vesting Commencement Date”)
		
	Expiration Date:	 	                                    
     (the “Expiration Date”)
		
	Option Exercise Price/Share:	 	$
                                     (the “Option Exercise
Price”)
		
	Vesting Schedule:	 	One-third of the Shares shall vest and become exercisable on the first anniversary of the Vesting Commencement Date, provided that the Optionee continues to have a Service Relationship with the Company at such time.
Thereafter, the remaining two-thirds of the Shares shall vest and become exercisable in eight (8) equal installments at the end of each three-month period following the first anniversary of the Vesting Commencement Date, provided the Optionee
continues to have a Service Relationship with the Company on each vesting date. Notwithstanding anything in the Agreement to the contrary, in the case of a Sale Event (as defined in the Plan), this Stock Option and the Shares shall be treated as
provided in Section 3(c) of the Plan; provided, however upon a “Change in Control”, all of the then unvested options shall vest. A “Change in Control” means any of the following, unless the Committee provides
otherwise:

  

	 	i.	any merger or consolidation in which the Company shall not be the surviving entity (or survives only as a subsidiary of another entity whose stockholders did not own all or substantially all of the capital stock of the
Company in substantially the same proportions as immediately prior to such transaction); 

  

	 	ii.	the sale of all or substantially all of the Company’s assets to any other person or entity (other than a wholly-owned subsidiary); 

 

	 	iii.	the acquisition of beneficial ownership of seventy-five percent (75%) or more of the outstanding shares of capital stock of the Company by any person or entity (including a “group” as defined by or under
Section 13(d)(3) of the Exchange Act); 

  

	 	iv.	a contested election of directors of the Company, as a result of which or in connection with which the persons who were directors before such election or their nominees (the “Incumbent Directors”) cease to
constitute a majority of the Board of Directors of the Company; provided however that if the election, or nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least fifty percent (50%) of
the Incumbent Directors of the Company, such new director shall be considered as an Incumbent Director; 

  

	 	v.	a Sale Event; or 

 any other event specified by the Committee, regardless of whether at the
time an Award (as defined in the Plan) is granted or thereafter; 
 provided, however, that the Company’s Initial Public
Offering (including but not limited to an Initial Public Offering effected by reverse takeover or a similar transaction), any subsequent public offering or another capital raising event, or a merger effected solely to change the Company’s
domicile shall not constitute a “Change in Control.” 
 Attachments: Non-Qualified Stock Option Agreement, 2013 Stock Option and Grant
Plan 

  
 2 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

UNDER THE WIND POWER HOLDINGS, INC. 

2013 STOCK OPTION AND GRANT PLAN 

All capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Grant Notice and the Plan.

 1. Vesting, Exercisability and Termination. 

(a) No portion of this Stock Option may be exercised until such portion shall have vested and become exercisable. 

(b) Except as set forth below, and subject to the determination of the Committee in its sole discretion to accelerate the vesting schedule
hereunder, this Stock Option shall be vested and exercisable on the respective dates indicated below: 
 (i) This Stock
Option shall initially be unvested and unexercisable. 
 (ii) This Stock Option shall vest and become exercisable in
accordance with the Vesting Schedule set forth in the Grant Notice. 
 (c) Termination. Except as may otherwise be provided by the
Committee, if the Optionee’s Service Relationship is terminated, the period within which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such period, shall thereafter
terminate subject, in each case, to Section 3(c) of the Plan): 
 (i) Termination Due to Death or Disability. If
the Optionee’s Service Relationship terminates by reason of such Optionee’s death or Disability, this Stock Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee; the Optionee’s legal
representative or legatee for a period of 12 months from the date of death or Disability or until the Expiration Date, if earlier. 

(ii) Other Termination. If the Optionee’s Service Relationship terminates for any reason other than death or
Disability, and unless otherwise determined by the Committee, this Stock Option may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if
earlier; provided however, if the Optionee’s Service Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date of such termination. 

For purposes hereof, the Committee’s determination of the reason for termination of the Optionee’s Service Relationship shall be
conclusive and binding on the Optionee and his or her representatives or legatees and any Permitted Transferee. Any portion of this Stock Option that is not vested and exercisable on the date of termination of the Service Relationship shall
terminate immediately and be null and void. 

  
 3 

 2. Exercise of Stock Option. 

(a) The Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date, the Optionee may deliver a Stock
Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or her election to purchase some or all of the Shares with respect to which this Stock Option is then exercisable. Such notice shall
specify the number of Shares to be purchased. Payment of the purchase price may be made by one or more of the methods described in Section 5 of the Plan, subject to the limitations contained in such Section of the Plan, including the
requirement that the Committee specifically approve in advance certain payment methods. 
 (b) Notwithstanding any other provision hereof or
of the Plan, if the Company is required by any regulatory authority to increase the Option Exercise Price in connection with any offering of the Company’s equity securities or any offering of the equity securities of any entity into which the
Company has merged or plans to merge for the purpose of completing such offering, then from and after the date on which such increase is required by such regulatory authority, the Option Exercise Price shall automatically be so increased without any
action by the Optionee and without any requirement of the Optionee’s consent. 
 (c) Notwithstanding any other provision hereof or of
the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date. 
 3. Incorporation of Plan.
Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms and conditions of the Plan. 

4. Transferability of Stock Option. This Stock Option is personal to the Optionee and is not transferable by the Optionee in any manner
other than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian or personal representative in the event of the
Optionee’s incapacity). The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time by filing written notice of revocation
or change with the Company; such beneficiary may exercise the Optionee’s Stock Option in the event of the Optionee’s death to the extent provided herein. If the Optionee does not designate a beneficiary, or if the designated beneficiary
predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee’s death. 

5. Restrictions on Transfer of Shares. The Shares acquired upon exercise of the Stock Option shall be subject to certain transfer
restrictions and other limitations including, without limitation, the provisions contained in Section 9 of the Plan. 
 6.
Miscellaneous Provisions. 
 (a) Equitable Relief. The parties hereto agree and declare that legal remedies may be inadequate
to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

  
 4 

 (b) Adjustments for Changes in Capital Structure. If, as a result of any reorganization,
recapitalization, reincorporation, reclassification, stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different
number or kind of securities of the Company, the restrictions contained in this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee in exchange for, or by virtue of his or her ownership
of, this Stock Option or Shares acquired pursuant thereto. 
 (c) Change and Modifications. This Agreement may not be orally changed,
modified or terminated, nor shall any oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Optionee. 

(d) Governing Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of
Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of State of Delaware, without regard to conflict of law principles that would result in the
application of any law other than the law of the State of Delaware. 
 (e) Headings. The headings are intended only for convenience in
finding the subject matter and do not constitute part of the text of this Agreement and shall not be considered in the interpretation of this Agreement. 

(f) Saving Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall in
no manner affect the legality or enforceability of any other provision hereof. 
 (g) Notices. All notices, requests, consents and
other communications shall be in writing and be deemed given when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the
Optionee shall be addressed as set forth underneath their signatures below, or to such other address or addresses as may have been furnished by such party in writing to the other. 

(h) Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their
respective successors, assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the extent of such assignment. 

(i) Counterparts. For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 
 (j)
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

  
 5 

 7. Dispute Resolution. 

(a) Except as provided below, any dispute arising out of or relating to the Plan or this Stock Option, this Agreement, or the breach,
termination or validity of the Plan, this Stock Option or this Agreement, shall be finally settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the
“J.A.M.S. Rules”). The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place
of arbitration shall be The Commonwealth of Massachusetts. 
 (b) The arbitration shall commence within 60 days of the date on which a
written demand for arbitration is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any third-party witnesses. In addition, each party
may take up to three depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not have the power to order the answering of
interrogatories or the response to requests for admission. In connection with any arbitration, each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration, the identity of all
persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered within
six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to such damages. 

(c) The Company, the Optionee, each party to the Agreement and any other holder of Shares issued pursuant to this Agreement (each, a
“Party”) covenants and agrees that such party will participate in the arbitration in good faith. This Section 7 applies equally to requests for temporary, preliminary or permanent injunctive relief, except that in the case of
temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm. 

(d) Each Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally
to the jurisdiction of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives and agrees not to seek any review by any court of any other jurisdiction which may be
called upon to grant an enforcement of the judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices are to be given. Each Party agrees that its, his or her submission to
jurisdiction 

  
 6 

 
and its, his or her consent to service of process by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding may be
enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

[SIGNATURE PAGE FOLLOWS] 

  
 7 

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to
by the undersigned as of the date first above written. 
  

			
	WIND POWER HOLDINGS, INC.
		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 Address:

	
	 29 Pitman Road

	 Barre, VT 05641

 The undersigned hereby acknowledges receiving and reviewing a copy of the Plan, including, without limitation,
Section 9 thereof, and understands that this Stock Option is subject to the terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions of the Plan, the Grant Notice and this Agreement, SPECIFICALLY
INCLUDING THE ARBITRATION PROVISIONS SET FORTH IN SECTION 7 OF THIS AGREEMENT, are hereby agreed to, by the undersigned as of the date first above written. 
  

	
	 OPTIONEE:

	
	 
	 Name:

	
	 Address:

	
	 
	
	 
	
	 

  
 8 

 Appendix A 

STOCK OPTION EXERCISE NOTICE 
 Wind Power
Holdings, Inc. 
 Attention:
[                                         
           ] 
  

 
  

 
 Pursuant to the terms of
the grant notice and stock option agreement between the undersigned and Wind Power Holdings, Inc. (the “Company”) dated
                    (the “Agreement”) under the Wind Power Holdings, Inc. 2013 Stock Option and Grant Plan, I, [Insert Name]
                        , hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of
$        representing the purchase price for [Fill in number of Shares]                     Shares. I have
chosen the following form(s) of payment: 
  

					
	
                    [    
]
	 	1.	  	Cash
			
	
                    [    
]
	 	2.	  	Certified or bank check payable to Wind Power Holdings, Inc.
			
	
                    [    
]
	 	3.	  	Other (as referenced in the Agreement and described in the Plan (please describe))
			
		 		  	                                    
                                         
                                         
              .

 In connection with my exercise of the option as set forth above, I hereby represent and warrant to the Company
as follows: 
 (i) I am purchasing the Shares for my own account for investment only, and not for resale or with a view to
the distribution thereof. 
 (ii) I have had such an opportunity as I have deemed adequate to obtain from the Company such
information as is necessary to permit me to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers with respect to my investment in the Company. 

(iii) I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in
the purchase of the Shares and to make an informed investment decision with respect to such purchase. 
 (iv) I can afford a
complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite period of time. 

(v) I understand that the Shares may not be registered under the Securities Act of 1933 (it being understood that the Shares
are being issued and sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue sky” laws and may not be sold or otherwise transferred or disposed of in the absence of an effective
registration statement under the Securities Act of 1933 and under any applicable state securities or “blue sky” laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates representing Shares
will bear restrictive legends reflecting the foregoing and/or that book entries for uncertificated Shares will include similar restrictive notations. 

  
 9 

 (vi) I have read and understand the Plan and acknowledge and agree that the
Shares are subject to all of the relevant terms of the Plan, including without limitation, the transfer restrictions set forth in Section 9 of the Plan. 

(vii) I understand and agree that the Company has a right of first refusal with respect to the Shares pursuant to
Section 9(b) of the Plan. 
 (viii) I understand and agree that the Company has certain repurchase rights with respect
to the Shares pursuant to Section 9(c) of the Plan. 
 (ix) I understand and agree that I may not sell or otherwise
transfer or dispose of the Shares for a period of time following the effective date of a public offering by the Company as described in Section 9(f) of the Plan. 

 

	
	 Sincerely yours,

	
	 
	 Name:

	
	 Address:

	
	 
	
	 
	
	 

  
 10EX-10.5

 Exhibit 10.5 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of September 7, 2012, by and between Northern Power
Systems Utility Scale, Inc., a Delaware corporation (the “Company”), and Troy C. Patton (“Employee”) sets forth the terms and conditions of Employee’s employment with the Company. 

WHEREAS, the Company wishes to employ Employee in the capacities and on the terms and conditions set out below, and Employee has
agreed to enter into such employment, in the capacities and on the terms and conditions set forth below; and 
 WHEREAS, the Company
and Employee have agreed to terminate the existing Employment Agreement dated as of March 16, 2009 between Employee and Northern Power Systems, Inc., and replace it with this Agreement. 

NOW, THEREFORE, the Company and Employee, in consideration of the respective covenants set out below, hereby agree as follows: 

1. Employment. Pursuant to the terms and conditions herein, the Company shall employ the Employee from April 23, 2012 until
terminated as provided herein. 
 2. Duties and Responsibilities. Effective April 23, 2012, Employee will serve as the President
and Chief Executive Officer of the Company and will report to the Company’s Board of Directors (the “Board”), and perform such duties, services, and tasks as requested by the Board, that are consistent with Employee’s general
responsibility for the Company’s business. Employee likewise will serve as the President and Chief Executive Officer of the Company’s affiliates, Wind Power Holdings, Inc. and Northern Power Systems, Inc. and shall be a member of the Board
of Directors of such companies and the Company. During Employee’s employment with the Company, Employee shall devote his full business time, attention and ability to the performance of his duties hereunder and shall not be employed in any other
capacity, or render services to any other party, without the prior written consent of the Company; provided that Employee may continue to serve as an advisor to the Board of Directors of Dansolar A/S so long as such service does not
interfere with Employee’s performance of his duties for the Company hereunder. 
 3. Compensation. 

a. Base Salary. Effective September 7, 2012, the Company shall pay Employee a salary of three hundred and seventy-five
thousand dollars ($375,000) annually, subject to any increases approved by the Board (“Base Salary”), payable in accordance with the Company’s normal payroll practices and subject to applicable taxes and withholding. Any
changes in Base Salary shall be determined by the Board. 
 b. Stock Options. Employee previously has been granted stock
options to purchase shares of the Common Stock of the Company and Northern Power Systems, Inc. pursuant to, and subject to the terms and conditions of, the Company’s 2011 Stock Option and Grant Plan and the Northern Power Systems, Inc. 2011
Stock Option and Grant Plan (the “Stock  

 
Option Plans”), respectively. At the discretion of the Compensation Committee and the Board, additional option grants may be made on an annual basis with no less favorable vesting and
exercise terms than those in the stock options previously granted to Employee. 
 c. For the year ending December 31, 2012, Employee
shall receive a cash bonus (the “2012 Bonus”) of one hundred and seventy-five thousand dollars ($175,000) which shall be paid to Employee on or before January 15, 2013, provided that Employee has not voluntarily terminated his
employment with the Company prior to December 31, 2012 (other than for Good Reason (as defined in Section 5(a)(v) below), and provided further that Employee’s employment with the Company has not been terminated for Cause (as defined
in Section 5(a)(i) below. Commencing January 1, 2013, at the discretion of the Compensation Committee and the Board, an annual cash bonus, targeted at 50% of Base Salary, will be awarded based on performance as described by approved
Management By Objective (“MBO”) scorecard goals. The amount of any individual bonus will be discretionary, based on the Board’s evaluation of individual performance as well as overall Company performance for the given year. All
bonuses are subject to approval by the Board. Annual bonus pay out will occur by not later than March 15 of the following year. 
 d.
Housing Allowance. The Company will provide Employee with a monthly allowance for housing in the Barre, Vermont area of between $1,250 and $1,500, and will reimburse Employee for his automobile mileage expenses incurred in traveling between
his primary residence in Massachusetts and Barre, Vermont, on a tax free basis. Should Employee relocate his primary residence to Florida, the Company will reimburse Employee for his travel expenses between such new primary residence and the
Company’s offices in Massachusetts and Vermont, on a tax free basis. 
 4. Benefits. 

a. Health and Benefit Plans. Employee shall be eligible to participate in such medical, dental, disability, life insurance and other
benefit plans as may be maintained by the Company from time to time, on the terms and conditions set forth in such plans. 
 b.
Vacation. Employee shall be entitled to 20 days paid vacation per full calendar year, which shall accrue in accordance with the Company’s vacation policy as in effect from time to time. Subject to the provisions of the Company’s
policy as in effect from time to time, up to 15 days of unused vacation time may be carried over to subsequent years. Accrued unused vacation time will be paid out upon termination of employment for any reason per the vacation policy. 

c. Sick Leave. Employee shall be entitled to five (5) days of paid sick leave pursuant to Company policy. 

d. Reimbursement for Business Expenses. Upon presentation of appropriate documentation, Employee shall be reimbursed, in accordance with
the Company’s expense reimbursement policy, for all reasonable business expenses incurred in connection with Employee’s performance of services for the Company, but in no event later than the end of the calendar year next following the
calendar year in which such reimbursable expenses are incurred. 

  
 2 

 5. Termination. 

a. Generally. Employee’s employment with the Company may terminate for any of the following reasons, with or without any prior
notice (and such notice shall not be required) unless otherwise indicated: 
 i. The Company may terminate Employee for any
act or omission that constitutes “Cause.” For purposes hereof, “Cause” shall mean: (i) Employee’s willful failure substantially to perform his duties and responsibilities to the Company or deliberate violation of
a material Company policy; (ii) Employee’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury to the Company;
(iii) unauthorized use or disclosure by Employee of any proprietary information or trade secrets of the Company or any other party to whom Employee owes an obligation of nondisclosure as a result of his relationship with the Company; or
(iv) Employee’s willful and material breach of his obligations under the Assignment of Inventions, Non-Disclosure and Noncompetition Agreement between Employee and the Company dated March 16, 2009 (the “Assignment
Agreement”). 
 ii. The Company may terminate Employee without Cause or because of Employee’s death or
“Disability”. For purposes hereof, “Disability” shall mean Employee’s failure to substantially perform his duties hereunder because of illness or injury for either four (4) consecutive months or an aggregate of
six (6) months in any rolling twelve (12) month period, as determined in the reasonable judgment of an independent qualified physician selected by the Company to whom Employee or his personal representative (as the case may be) has no
reasonable objection. 
 iii. Employee may resign from the Company other than for Good Reason, provided that in the case of
such resignation, Employee shall have provided the Company with at least 60 days prior written notice and upon receipt of such notice, the Company may elect, in its discretion, to terminate the employment of Employee at any time following such
notice. In the event the Company elects to terminate Employee following notice, Employee’s Base Salary and benefits (subject to customary employee participation) shall continue to be paid during the notice period. 

iv. Employee may resign his employment with the Company for “Good Reason” upon written notice to the Company setting
forth in reasonable detail the nature of the Good Reason. “Good Reason” shall mean: (i) any material breach of this Agreement by the Company or any successor to the Company which is not cured within fifteen (15) days after
written notice by Employee to such breaching party; or (ii) failure of any successor to the Company to assume and agree to perform the Company’s obligations pursuant to the terms and conditions of this Agreement. 

  
 3 

 b. Payments Upon Termination by the Company for Cause. Upon the termination of
Employee’s employment by the Company for Cause, Employee shall be paid any unpaid Base Salary and vacation accrual due and owed for periods prior to the termination and any outstanding expense reimbursements (collectively, the “Accrued
Obligations”). 
 c. Payments Upon Termination by the Company for Death or Disability. Upon the termination of Employee’s
employment by the Company because of Employee’s death or Disability, Employee (or, in the event of Employee’s death, Employee’s estate) shall be paid the Accrued Obligations and any bonus which had been awarded to Employee but not yet
paid on the date of termination, including but not limited to the 2012 Bonus (prorated to the date of Employee’s death or disability if such event occurs prior to December 31, 2012). 

d. Payments Upon Resignation by Employee. Upon the termination of Employee’s employment by the Company because of resignation by
Employee, Employee shall be paid the Accrued Obligations and any bonus which had been awarded to Employee but not yet paid on the date of termination, provided that no portion of the 2012 Bonus shall be paid to Employee if the effective date of
Employee’s resignation is before December 31, 2012. 
 e. Payments Upon a Termination by the Company without Cause or
Resignation by Employee for Good Reason. Upon the termination of Employee’s employment by the Company without Cause or a resignation by Employee for Good Reason, Employee shall be paid the Accrued Obligations, any bonus which had been
awarded to Employee but not yet paid on the date of termination, and a pro-rated bonus for the year in which the termination occurs for performance through the date of termination, as determined in good faith by the Compensation Committee and the
Board pursuant to Section 3(c) above. The Company shall also provide Employee the following severance for twelve (12) months from the termination date or, if sooner, up to the commencement of subsequent employment (the “Severance
Period”): 
 i. the Base Salary in effect at the time, payable in up to twelve (12) installments over the
Severance Period beginning on the first payroll date following the expiration of the Revocation Period referenced below, and including any missed installments between the date of termination of employment and the first such payment date; and 

all health and dental benefits, including the cost of COBRA continuation coverage for Employee and his eligible dependents during the Severance Period
(subject to Employee’s payment of premiums at the active employee rate), payable beginning on the first payroll date following the expiration of the Revocation Period referenced below, and including any missed installments between the date of
termination of employment and the first such payment date; provided that in the event that Employee obtains other employment that offers group health benefits, such payments by the Company under this Section 5.d.ii shall immediately cease (with
the Base Compensation referenced in Section 5.d.i above, the “Severance Compensation”). 
 6. Severance
Compensation Terms. Severance Compensation shall be payable on the dates on which such amounts would have been paid had Employee continued his employment hereunder, provided that Severance Compensation shall only be paid if the
employee executes a general release (in a customary and reasonable form) of any and all claims 

  
 4 

 
against the Company and its affiliates, and continues to comply with the terms and conditions set forth in the Assignment Agreement, provided further that the noncompetition period set forth in
Section 7(a) of the Assignment Agreement automatically shall be shortened to three (3) months. Employee will be provided a period of at least twenty-one (21) days to consider whether to execute the general release, and will be
provided a seven (7) day post-execution period in which his agreement to it may be revoked (“Revocation Period”). The Company shall furnish Employee with the release within five (5) days follows the date of Employee’s
termination of employment. In the event that Employee terminates employment on or after December 1 of a calendar year, the Severance Compensation will (subject to the effectiveness of the release) commence effective January 1 of the
following calendar year and the first payment shall include the cumulative amount of payments that would have been made had the Severance Compensation commenced to be paid on the date of Employee’s termination of employment. 

7. Change of Control Termination. If Employee is terminated without Cause or resigns for Good Reason within twelve (12) months
following a Change of Control, as defined in the Stock Option Plans, in addition to the payments and Severance Compensation referenced in Section 5(e) above (subject to the provisions of Section 6), any then-unvested options issued to
Employee shall immediately vest. For purposes of this Section 7 only, “Good Reason” shall mean, in addition to the provisions of Section 5(a)(v) above, an adverse change by the Company or any successor to the Company to
Employee’s title, reporting relationships, work location, position, authority, duties or responsibilities which is not cured within fifteen (15) days after written notice by Employee and Employee deems such change to trigger “Good
Reason”, it being understood and agreed that a sale or spin-off of a portion of the Company’s business operations shall not, by itself, constitute an “adverse change” for purposes of this definition. 

8. Entire Agreement/Amendments. This Agreement embodies the entire understanding with respect to the subject matter hereof and
supersedes all prior understandings and communications with respect to the matters herein except for the Assignment Agreement. This Agreement may not be modified except in writing signed by Employee and a duly authorized officer of the Company. 

9. Governing Law. The validity, interpretation, construction, performance, and enforcement of this Agreement shall be governed by the
laws of the state in which Employee’s principal place of employment is located without reference to that state’s choice of law rules. 

10. Section 409A. This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”) and the regulations thereunder. To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be interpreted in a manner so that
no payment due to Employee shall be subject to an “additional tax” within the meaning of Section 409A(a)(1)(B) of the Code. To the extent that any provision in the Agreement is ambiguous as to its compliance with Section 409A of
the Code, or to the extent any provision in the Agreement must be modified to comply with Section 409A of the Code, such provision shall be read, or shall be modified (with the mutual consent of the parties), as the case may be, in such a
manner so that no payment due to Employee shall be subject to an “additional tax” within the meaning of Section 409A(a)(1)(B) of the Code. 

  
 5 

 For purposes of Section 409A of the Code, each payment made under this Agreement shall be
treated as a separate payment. In no event may Employee, directly or indirectly, designate the calendar year of any payment. All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of
Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement be for expenses incurred during Employee’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the
amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the
calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

Notwithstanding anything to the contrary herein, if a payment or benefit under this Agreement is due to a “separation form service”
for purposes of the rules under Treas. Reg. § 1.409A-3(i)(2) (payments to specified employees upon a separation from service) and Employee is determined to be a “specified employee” (as determined under Treas. Reg. §
1.409A-1(i)), such payment or benefit shall, to the extent necessary to comply with the requirements of Section 409A of the Code, be made or provided on the later of the date specified by the foregoing provisions of this Agreement or the date
that is six months after the date of Employee’s separation from service (or, if earlier, the date of Employee’s death). Any installment payments that are delayed pursuant to this Section 10 shall be accumulated and paid in a lump sum
on the first day of the seventh month following Employee’s separation from service, and the remaining installment payments shall begin on such date in accordance with the schedule provided in this Agreement. 

This Section 10 shall survive the termination of this Agreement. 

11. General Provisions. 

a. Notices. All notices and other communications hereunder shall be in writing or by written telecommunication, and shall be deemed to
have been duly given if delivered personally or if sent by overnight courier or by certified mail, return receipt requested, postage prepaid or sent by written telecommunication or telecopy, to the relevant address set forth below, or to such other
address as the recipient of such notice or communication shall have specified in writing to the other party hereto, in accordance with this Section 11(a). 

If to the Company, to: 29 Pitman Road, Barre, VT 05641, Attention: General Counsel Facsimile: (802) 461-2997 

If to Employee, at his last residence shown on the records of the Company or to such address as the Employee may designate in writing. 

Any such notice shall be effective (i) if delivered personally, when received, (ii) if sent by overnight courier, when receipted for, (iii) if
mailed, five (5) days after being mailed, and (iv) on confirmed receipt if sent by written telecommunication or telecopy, provided a copy of such communication is sent by regular mail, as described above. 

  
 6 

 b. Severability. If any provision of this Agreement is or becomes invalid, illegal or
unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired. 

c. Waivers. No delay or omission by either party hereto in exercising any right, power or privilege hereunder shall impair such right,
power or privilege, nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. 

d. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. In making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart. The execution of this Agreement may also be by actual or electronic
signature. 
 e. Assigns. This Agreement shall be binding upon and inure to the benefit of the Company’s successors and
Employee’s personal or legal representatives, executors, administrators, heirs, distributees, devisees and legatees. This Agreement shall not be assignable by Employee, it being understood and agreed that this is a contract for Employee’s
personal services. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 7 

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

			
	Northern Power Systems Utility Scale, Inc.:
		
	By:	 	/s/ Elliot J. Mark
		 	Elliot J. Mark
		 	Vice President and General Counsel
	
	 Employee:

		
		 	/s/ Troy C. Patton
		 	Troy C. Patton

  
 8

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