Document:

EX-10.9

 Exhibit 10.9 
 GLOBOFORCE LIMITED 
 EMPLOYEE SHARE OPTION SCHEME

 (adopted by the Company on 5th August 2009) 

	1.	EMPLOYEE SHARE OPTION SCHEME 

 This Employee Share Option Scheme 2009 (hereinafter called “the Scheme”) was established by the Board on 10th June 2009 and adopted by the Company pursuant to an ordinary resolution of the Company passed at the Annual
General Meeting of the Company held on 5th August
2009. This Scheme is in substitution for the pre-existing employee share option scheme of the Company established by the Board on 27th June 2001 pursuant to an ordinary resolution of the Company passed on 27th June 2001 and subsequently amended by Board Resolutions dated
3 October 2003 and 17 November 2005. 
 The purpose of the Scheme is to provide for the granting of share options to
directors and employees of the Company and its Subsidiaries in accordance with the provisions set out below. 
  

	2.	DEFINITIONS 

  

	 	(a)	In the Scheme, unless the context otherwise requires: 

 “Acquiring Company” means a company which obtains Control of the Company in the circumstances referred to in rule 14. 
 “Acting In Concert” has the same meaning given to that expression in section 1 of the Irish Takeover Panel Act, 1997 in their present form or as amended from time to time. 

“Adoption Date” means the date on which the Scheme is adopted by the Board under authority of the Company in general meeting.

 “Auditors” means the auditors for the time being of the Company. 

“Board” means the board of directors for the time being of the Company or a duly constituted committee of such Board.

 “Company” means Globoforce Limited, a company registered in Ireland (registered number 264562). 

“Control” has the same meaning given to that word by section 432 of TCA 1997. 

“Eligible Employee” means a director of the Company or any employee of any Participating Company or any other person selected by
the Board provided that such person is providing services to the Company whether as a consultant or otherwise. 

“Group” means the company and any of its subsidiaries. 
 “Health Reasons” means reasons of ill health or permanent incapacity which, as evidenced to the satisfaction of the Board, compel a Participant to discontinue his employment. 

  
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 “Option” means an option granted pursuant to the Scheme. 

“Option Certificate” means the certificate in respect of an Option in such form as the Board shall determine. 

“Option Price” means the price determined by the Board pursuant to Rule 5 hereof payable for shares taken up on exercise of an
Option. 
 “Participant” means a person who is for the time being the holder of an Option or of shares held pursuant to
the exercise of an Option or the personal representatives of a person who was the holder of an Option or of shares held pursuant to the exercise of an Option immediately prior to his death. 

“Participating Company” means the Company and any Subsidiary that is for the time being nominated by the Board to participate in
this Scheme. 
 “Scheme” means this Employee Share Option Scheme as set out herein or as amended from time to time in
accordance with the provisions in that regard herein contained. 
 “Shares” means the ordinary shares in the capital
for the time being of the Company. 
 “Subsidiary” means any company which is for the time being a subsidiary of the
Company within the meaning of Section 155 of the companies Act, 1963. 
 “Subsisting Option” means an Option which
has neither lapsed nor been exercised. 
 “Vest” means a Participant becoming entitled to exercise his Option and the
terms “Vesting”, “Vested” and “Vests” shall be construed accordingly. 
  

	 	(b)	Any reference in these Rules to the singular includes, where the context so admits, a reference to the plural and any reference to any gender includes a reference to
the other gender. 

  

	 	(c)	Any reference in these Rules to any regulations, enactments or guidelines includes a reference to such regulations, enactments or guidelines as from time to time
modified, extended or re-enacted. 

  

	3.	ELIGIBILITY 

  

	 	(a)	The Scheme is available to Eligible Employees of any Participating Company who shall be nominated by the Board. The Board shall have absolute discretion to nominate
Eligible Employees as aforesaid. 

  

	 	(b)	No personal shall be entitled as of right to participate in the Scheme and the decision as to who shall have the opportunity of participating and the time and extent of
his participation will, subject to the Scheme, be made by the Board in its absolute discretion. 

  
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	4.	GRANT OF OPTIONS 

  

	 	(a)	The Board may at any time following the Adoption Date offer to grant Options to Eligible Employees to subscribe at the Option Price for Shares and shall specify the
Option Price and the maximum number of Shares in respect of which it can be accepted. 

  

	 	(b)	Every such offer shall specify the mode of acceptance with the latest date for acceptance. Unless such offer is duly accepted on or before the date specified, such
offer shall be deemed to have lapsed. 

  

	 	(c)	The acceptance of an Option shall only be valid if it is accompanied by the sum of €1 in consideration of the grant of the Option. 

 

	 	(d)	Upon receipt by the Board of such acceptance, the Company shall grant to the Eligible Employee an Option (which shall be personal to the grantee and non-assignable) to
subscribe for the appropriate number of Shares at the Option Price relating thereto and shall deliver an Option Certificate to the Eligible Employee. 

  

	 	(e)	The notification of grant of Option, acceptance, Option Certificate shall take the form set out in the Schedule hereto. 

 

	5.	OPTION PRICE 

 The Option
Price shall be determined by the Board, but shall not be less than the nominal value of a share. 
  

	6.	CONDITIONS AND PERIOD FOR EXERCISE OF OPTION 

  

	 	(a)	No Option shall be exercisable more than seven years after the date upon which it was granted. 

 

	 	(b)	On the grant of an Option, the Board may impose such conditions on Vesting which the Board determines to be appropriate. The Vesting schedule shall be specified in the
Option Certificate and shall be subject to Rules 10 to 15. 

  

	7.	LIMITATION OF ISSUE 

  

	 	(a)	Subject to Rule 15, the number of Shares for which Options to subscribe may be granted under the Scheme on any day shall not, when added to the number of Shares which
immediately prior to that day shall have been or remain to be issued pursuant to Subsisting Options or pursuant to options granted under any other and/or subsequent share option scheme adopted by the Company, exceed 525,500 Shares.

  

	 	(b)	For the purpose of the limit in rule 7(a): 

  
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	 	(i)	there shall be disregarded any Shares subject to an option which has lapsed, been renounced or otherwise become incapable of being exercised; and

  

	 	(ii)	any Shares issued on the exercise of an option shall be taken into account once only (when the option is granted) and shall not fall out of account when the option is
exercised. 

  

	8.	LIMITATION OF PARTICIPATION 

  

	 	(a)	No Option shall be capable of being granted under the Scheme after 30 June 2012. 

 

	 	(b)	Subject to the provisions of Rule 16, the Board may review from time to time in accordance with the terms of the Scheme the range and extent of participation in the
Scheme in the light of changes in personnel, levels of remuneration, performance of non-participants and other factors which the Board considers relevant. 

 

	9.	PROCEDURE ON EXERCISE OF OPTION 

  

	 	(a)	An Option shall be exercised by notice in writing given by the Participant to the Company in the form set out in the Schedule hereto. The Participant shall notify the
Company that he is exercising the Option in respect of all or part of the Shares for the time being comprised in the Option. Notice of exercise of Option shall be accompanied by the relevant Option Certificate and by payment of the Option Price for
the Shares in respect of which the Option is exercised. 

  

	 	(b)	As soon as practicable after receipt by the Company of such notice, Option Certificate and payment, the Shares shall be issued by the Company to the Participant and
such Shares shall rank in all respects pari passu with the Shares in issue on the date of allotment save as regards any rights attaching to such Shares by reference to a record date prior to the date of such allotment. In the event of an Option
being exercised in part only, the relevant Option Certificate shall be cancelled and a new Option Certificate setting forth the number of Shares in respect of which the Option has not been exercised shall be delivered by the Company to the
Participant. 

  

	 	(c)	Shares acquired under this Scheme shall be allotted, certificates issued and names registered within 30 days of the Option being exercised. 

 

	 	(d)	If and to the extent that existing shareholders in the Company are subject to restrictions on the exercise of any rights attaching to their shares in the Company as
embodied in any shareholders’ agreement and/or lock-up arrangement, the Board may require that an Option may not be exercised unless it is accompanied by a deed of adherence in a form acceptable to the Company and executed by the Participant
whereby the Participant agrees to be bound by the terms of such shareholders’ agreement and/or lock-up arrangement. 

  
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	 	(e)	Where, in relation to an Option granted under the Scheme, the Company or any member of the Group (as the case may be) is liable, or is in accordance with current
practice believed by the Board to be liable, to account to any revenue or other authority for any sum in respect of any tax or social security liability of the Participant, the Option may not be exercised unless the Participant has beforehand paid
to the Company or the member of the Group (as the case may be) an amount sufficient to discharge the liability. Alternatively, the Participant may, by agreement with the Company or the member of the Group (as the case may be) enter into some other
arrangement to ensure that such amount is available to them or it (whether by authorising the sale of some or all of the Shares subject to his Option and the payment to the Company or the member of the Group (as the case may be) of the requisite
amount out of the proceeds of sale or otherwise). 

  

	 	(f)	Subject to section 60 of the Companies Act, 1963 and at the absolute discretion of the Board, the Company may:- 

 

	 	(i)	make arrangements with the agreement of a Participant (who is or was a director or employee of the Group) for the simultaneous issue and sale of Shares arising from the
exercise of an Option and in doing so may make arrangement for the settlement of any Option Price out of the proceeds of such sale; and/or 

  

	 	(ii)	make available loans to Participants in order to assist such Participants to subscribe for fully paid Shares on the exercise of an Option PROVIDED HOWEVER that such
loans shall only be afforded to persons who are employees or former employees of the Company or any of its Subsidiary including any person who is or was a director holding salaried employment or office in the Company or any of its Subsidiaries.

  

	10.	LAPSE OF OPTION 

 Subject
to Rules 11, 12, 13 and 14 hereof an Option shall lapse to the extent that it has not been exercised by the earliest of:- 
  

	 	(a)	the seventh anniversary of its Grant Date; 

  

	 	(b)	the expiry of twelve months from the date of death of the Participant; 

  

	 	(c)	on cessation of employment in the circumstances set out in Rules 11(a)(i), 11(b) and (subject to the Board’s discretion) 11(c); 

 

	 	(d)	such earlier date as the Board may prescribe when giving an Eligible Employee an invitation to apply for an Option under the Scheme. 

  
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	11.	CESSATION OF EMPLOYMENT OR THE PROVISION OF SERVICES TO THE GROUP 

(a)    (i)     If a Participant ceases to hold office or employment or to provide
services to the Group by virtue of which he is eligible to participate in the Scheme: 
  

	 	(A)	because he has with the agreement of the Board retired; 

  

	 	(B)	because the period under which he contracted to provide services to the Group has expired or has otherwise terminated with the agreement of the Board;

  

	 	(C)	because of Health Reasons; or 

  

	 	(D)	by reason of redundancy within the meaning of Redundancy Payments Act, 1967 to 1991 

then in such case any Option held by such Participant which has not Vested shall lapse and shall not be exercisable from the date of such
cessation. 
  

	 	(b)	If a Participant ceases to hold the office or employment or to provide services to the Group by virtue of which he is eligible to participate in the Scheme because:-

  

	 	(i)	he is declared a bankrupt or applies for protection against his creditors generally; 

 

	 	(ii)	he is guilty of fraud or serious misconduct or wilful neglect to carry out his duties under his contract of employment or contract for services or commits any serious
or repeated breach (or any material breach continued after warning) of his contract of employment or contract for services; 

  

	 	(iii)	he is convicted of any indictable offence other than under road traffic legislation for the time being in force, for which a penalty of imprisonment is not enforced; or

  

	 	(iv)	he is guilty of any conduct which brings or is likely to bring serious discredit upon any Participating Company 

then in such case an Option held by such Participant shall lapse and shall not be exercisable from the date of such cessation. 

 

	 	(c)	If a Participant ceases for any other reason (other than as outlined in Rule 11 (a), (b) or Rule 12) to hold the office or employment or to provide services to the
Group by virtue of which he is eligible to participate in the Scheme then in such case an Option held by such a Participant shall lapse and shall not be exercisable from the date of such cessation unless the Board in its absolute discretion and
specified in the Offer letter decides that such Option, or any portion thereof, shall, subject to the conditions applicable thereto, be exercisable on or after such termination provided however that no Option shall be exercisable or exercised later
than the seventh anniversary of the Grant Date thereof; 

  
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	 	(d)	In no circumstances shall a Participant ceasing to provide services to the Group or ceasing to hold such office or employment as aforesaid be entitled to any
compensation for any loss of any right or any benefit or prospective right or benefit under the Scheme which he might otherwise have enjoyed whether such compensation is claimed by way of damages, wrongful dismissal or other breach of contract or by
way of compensation for loss of office or otherwise howsoever. 

  

	12.	DEATH 

  

	 	(a)	If a Participant dies, his legal personal representatives may, subject to the conditions applicable thereto, exercise such part of his Option which has Vested by the
date of the Participant’s death. On any partial exercise of such an Option the balance of the rights then remaining unexercised under such Option shall forthwith expire. No Option may be exercised later than twelve months after the date of
death of a Participant and upon the expiration of such period the Option shall expire to the extent that it has not been exercised. 

  

	13.	TAKEOVER, RECONSTRUCTION, AMALGAMATION OR WINDING UP OF COMPANY 

  

	 	(a)	General offer for Company or its business 

 Notwithstanding rule 6(b) but subject to rule 13(b), if a person acquires substantially all of the Company’s business and undertaking or obtains Control of the Company as a result of making a general
offer: 
  

	 	(i)	to acquire the whole of the issued ordinary share capital of the Company which is made on a condition such that if it is satisfied the person making the offer will have
Control of the Company; or 

  

	 	(ii)	to acquire all the shares in the Company of the same class as the Shares 

 (in either case, other than any shares already held by him or a person Acting In Concert with him), the Board may, in its absolute discretion, resolve that all Options may be exercised at any time during
the period of six months beginning with the time when the person making the acquisition or offer has completed the acquisition or obtained Control of the Company and any condition subject to which the offer is made has been satisfied. Where the
Board exercises its discretion under this rule, any Options which remain unexercised at the end of the six-month period shall cease to be exercisable and shall lapse immediately unless the Board determines that such Options shall continue to exist.

  
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	 	(b)	Compulsory acquisition of Company 

Notwithstanding rule 6(b) but subject to rule 14, if a person becomes entitled or bound to acquire shares in the Company under section 204
of the Companies Act, 1963 the Board may, in its absolute discretion, resolve that all Options may be exercised at any time during the period beginning with the date the person serves a notice under section 204 and ending seven clear days before the
date on which the person ceases to be entitled to serve such a notice (the “Section 204 Period”). Where the Board exercises its discretion under this rule, any Options which remain unexercised at the end of the Section 204 Period
shall cease to be exercisable and shall lapse when the person ceases to be entitled to serve such a notice. 
  

	 	(c)	Reconstruction or amalgamation of Company 

 Notwithstanding rule 6(b) but subject to rule 14, if a person proposes to obtain Control of the Company in pursuance of a compromise or arrangement sanctioned by the court under section 201 of the
Companies Act, 1963:- 
  

	 	(i)	the Board may, in its absolute discretion, resolve that all Options (including, at the election of the Participant, an Option which has already become exercisable) may
be exercised, conditionally on the compromise or arrangement becoming effective, at any time during the period beginning with the date of the meeting of the members of the Company ordered by the court and ending on the earlier of six months
thereafter and seven clear days before the court sanctions the compromise or arrangement; 

  

	 	(ii)	if the compromise or arrangement becomes effective, any Options not so exercised by the earlier of the dates referred to in rule 13(c)(i) shall cease to be exercisable
and shall lapse at the end of the six month period referred to in rule 13(c)(i); 

  

	 	(iii)	if the compromise or arrangement does not become effective, any conditional exercise of an Option shall be of no effect and the Option shall continue to exist;

  

	 	(iv)	the date of exercise of all Options exercised conditionally under this rule 13(c) shall be deemed to be the date on which the court sanctions the compromise or
arrangement; and 

  

	 	(v)	an Option which has already Vested may be exercised unconditionally during the period referred to in rule 13(c)(i) but such exercise shall be subject to rules 13(c)(ii)
and 13(c)(iv) (with appropriate modifications). 

  

	 	(d)	Winding up of Company 

Notwithstanding rule 6(b), if notice is given of a resolution for the voluntary winding-up of the Company: 

  
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	 	(i)	the Board may, in its absolute discretion, resolve that all Options (including, at the election of the Participant, an Option which has already become exercisable) may
be exercised, conditionally on the passing of the resolution, at any time during the period beginning with the date the notice is given and ending seven clear days before the resolution is passed or defeated or the general meeting is concluded or
adjourned sine die; 

  

	 	(ii)	if the resolution is passed, any Options not so exercised shall lapse immediately; 

 

	 	(iii)	if the resolution is not passed, any conditional exercise of an Option shall be of no effect and the Option shall continue to exist; 

 

	 	(iv)	the date of exercise of all Options exercised conditionally under this rule 13(d) shall be deemed to be the date on which the resolution is passed; and

  

	 	(v)	an Option which has already Vested may be exercised unconditionally during the period referred to in rule 13(d)(i) but such exercise shall be subject to rules 13(d)(ii)
and 13(d)(iv)(with appropriate modifications). 

  

	 	(e)	Meaning of “obtains Control of the Company” 

 For the purpose of rule 13, a person shall be deemed to have obtained Control of the Company if he and others Acting In Concert with him have together obtained Control of it. 

 

	 	(f)	Notification of Participants 

The Compensation Committee shall, as soon as reasonably practicable, notify each Participant of the occurrence of any of the events
referred to in rule 13. 
  

	14.	EXCHANGE OF OPTIONS ON TAKEOVER, RECONSTRUCTION OR AMALGAMATION OF THE COMPANY 

 

	 	(a)	Exchange of Options 

 If the
person referred to in rule 13(a),(b) or (c) (reading the reference in rule 13(c) to “proposes to obtain” as “obtains”) is a company (“Acquiring Company”), the Board may, at any time during the period set out in
rule 14(b), by agreement with the Acquiring Company, require a Participant to release his Option in whole or in part in consideration of the grant to him of a new option (“New Option”) which is equivalent to the Option but which relates to
shares (“New Shares”) in: 
  

	 	(i)	the Acquiring Company; or 

  

	 	(ii)	a company which has Control of the Acquiring Company; or 

  
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	 	(iii)	a company which either is, or has Control of, a company which is a member of a consortium within the meaning of paragraph 1(4), Schedule 12C, TCA 1997 which owns either
the Acquiring Company or a company having Control of the Acquiring Company. 

  

	 	(b)	Period allowed for exchange of Options 

 The period referred to in rule 14(a) is: 
  

	 	(i)	where rule 13(a) applies, the period of six months beginning with the time when the person making the offer has obtained Control of the Company and any condition
subject to which the offer is made has been satisfied; 

  

	 	(ii)	where the rule 13(b) applies, the period during which the Acquiring Company remains so entitled or bound; and 

 

	 	(iii)	where rule 13(c) applies, the period of six months beginning with the time when the court sanctions the compromise or arrangement. 

 

	 	(c)	Meaning of “equivalent” 

The New Option shall not be regarded for the purpose of this rule 14 as equivalent to the Option unless: 

 

	 	(i)	the New Option will be exercisable in the same manner as the Option and subject to the provisions of the Scheme as it had effect immediately before the release of the
Option; and 

  

	 	(ii)	the total Market Value, immediately before the release of the Option, of the Shares which were subject to the Option is equal to the total Market Value, immediately
after the grant of the New Option, of the New Shares PROVIDED HOWEVER no New Option shall be required to be granted over a fraction of a New Scheme Share; and 

 

	 	(iii)	the total amount payable by the Participant for the acquisition of the New Shares under the New Option is equal to the total amount that would have been payable by the
Participant for the acquisition of the Shares under the Option. 

  

	 	(d)	Date of grant of New Option 

 The
date of grant of the New Option shall be deemed to be the same as the Date of Grant of the Option. 
  

	 	(e)	Application of Scheme to New Option 

 In the application of the Scheme to the New Option, where appropriate, references to “Company” and “Shares” shall be read as if they were references to the company to whose shares the
New Option relates and the New Shares, respectively, save that in the definition of “Board” and “Compensation Committee” the reference to “Company” shall be read as if it were a reference to Acquiring Company.

  
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	15.	ADJUSTMENT 

  

	 	(a)	In the event of any issue of shares, by way of rights, capitalisation issue or any consolidation or subdivision or reduction of the capital of the Company, the number
of shares subject to any Option and the Option Price for each of those Shares, shall be adjusted in such manner as the Auditors confirm to be fair and reasonable provided that: 

 

	 	(i)	the aggregate amount payable on the exercise of an Option in full is not increased; 

 

	 	(ii)	the Option Price for a Share is not reduced below its nominal value. 

  

	 	(b)	Notwithstanding rule 15(a)(ii), an adjustment may be made which would result in the Shares subject to an Option being issued at a price per Share lower than the nominal
value of a Share if and to the extent that the board of directors of the Company is authorised to capitalise from the Company’s reserves a sum equal to the amount by which the aggregate nominal value of the Shares subject to the Options which
are adjusted exceeds the aggregate adjusted Option Price under such Options. If such an adjustment is made, on the subsequent exercise of the Option, the board of directors of the Company shall capitalise such sum and apply the sum in paying up such
excess. 

  

	16.	ALTERATIONS 

  

	 	(a)	Subject to Rules 16(b), the Company may at any time by resolution of the Board vary, amend or revoke any of the provisions of the Scheme in such manner as the Board may
consider necessary. 

  

	 	(b)	An amendment may not adversely affect the rights of an existing Participant except where the amendment has been approved by the existing Participants in such manner as
would be required by the Company’s articles of association (with appropriate changes) if the Shares subject to their Options had been issued or transferred to them (so that they had become shareholders in the Company) and constituted a separate
class of shares. 

  

	 	(c)	The Board shall, as soon as reasonably practicable, notify each Participant of any amendment to the rules of the Scheme under this rule 16. 

  
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	17.	SHARE CAPITAL 

 The
Company shall keep unissued sufficient Shares to enable it to discharge its obligations under the Scheme and shall take all steps as may be necessary (including the passing of any resolutions of the Company) to ensure that the Directors of the
Company shall, at all material times, be generally and unconditionally authorised to allot Shares to Participants in accordance with the provisions of Section 20 of the Companies (Amendment) Act, 1983 or any statutory modification or
re-enactment thereof and so that the provisions of Section 23 of the said Act (or any such modification or re-enactment thereof) shall not apply to any such allotment. 

 

	18.	ASSIGNMENT 

 An Option
shall be personal to the Participant to whom it is granted and, subject to rule 12, shall not be capable of being transferred, charged or otherwise alienated and shall lapse immediately if the Participant purports to transfer, charge or otherwise
alienate the Option provided, however, that a Participant may, with the prior approval of the Board, assign, mortgage, pledge, grant an option over or otherwise dispose of an Option in favour of a stockbroker, bank or financial institution so that
such Option may then be capable of being exercised by such stockbroker, bank or financial institution subject to such bank or financial institution complying with rule 9(d). 

 

	19.	TERMINATION 

  

	 	(a)	The Scheme may be terminated at any time by resolution of the Board and in any event shall expire no later than 30 June 2012. 

 

	 	(b)	As from any termination of the Scheme under paragraph (a) of this Rule the Company shall not grant any further Options but no such termination shall affect or
modify any subsisting rights or obligations of the Participants in respect of any Options and notwithstanding such termination the Company shall continue to do and perform such acts in accordance with the provisions hereof as are necessary for or
incidental to the administration and management of outstanding rights and obligations which arose under or by virtue of the Scheme. 

  

	20.	ADMINISTRATION AND DISPUTES 

  

	 	(a)	The Scheme shall in all respects be administered under the direction of the Board which may make such rules for the conduct of the Scheme consistent with the terms and
conditions herein contained as it deems advisable. 

  

	 	(b)	The decision of the Board shall be final and binding in all matters relating to the administration of the Scheme, including but not limited to the resolution of any
ambiguity in the rules of the Scheme. 

  

	 	(c)	A Participant shall provide to the Company as soon as reasonably practicable such information as the Company reasonably requests for the purpose of complying with its
obligations under paragraph 20 of Schedule 12C to TCA 1997. 

  

	 	(d)	All disputes and differences arising out of this Scheme or otherwise in connection therewith may be referred by the Company to arbitration pursuant to the provisions of
the Arbitration Acts, 1954 to 1998 and any Participant so affected shall submit to such arbitration. 

  
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	21.	RELATIONSHIP OF SCHEME TO CONTRACT OF EMPLOYMENT 

 Notwithstanding any other provision of the Scheme: 
  

	 	(a)	the Scheme shall not form part of any contract of employment between the Company or any Subsidiary and a Participant; 

 

	 	(b)	unless expressly so provided in his contract of employment, a Participant has no right to be granted an Option; 

 

	 	(c)	the benefit to a Participant of participation in the Scheme (including, in particular but not by way of limitation, any Options held by him) shall not form any part of
his remuneration or count as his remuneration for any purpose and shall not be pensionable; and 

  

	 	(d)	if a Participant is to cease to be employed within the Group or ceases to provide services to the Group in any of the circumstances described in Rule 13 or 14 or as a
consequence of the transfer of his employer’s undertaking, it shall be a pre-condition of any exercise of his Options or any payment which might be offered to him in connection with his Options that such Participant acknowledges that the Scheme
will terminate immediately following such exercise or payment and there shall be no obligation for the Scheme to be replicated in any way by the new employer and he shall not be entitled to compensation for the loss of any right or benefit or
prospective right or benefit under the Scheme (including, in particular but not by way of limitation, any Options held by him which lapse by reason of his ceasing to be employed within the Group) whether by way of damages for unfair dismissal,
wrongful dismissal, breach of contract or otherwise. 

  

	 	(e)	By accepting the grant of an Option and not renouncing it, a Participant is deemed to have agreed to the provisions of this rule 21. 

 

	22.	MISCELLANEOUS 

  

	 	(a)	Any notice, document or other communication given by, or on behalf of, the Company to any person in connection with the Scheme shall be deemed to have been duly given
if delivered to him at his place of work, if he is employed within the Group, or sent through the post in a pre-paid envelope to the address last known to the Company to be his address and, if so sent, shall be deemed to have been duly given on the
date of posting. 

  

	 	(b)	Any notice, document or other communication so sent to a Participant shall be deemed to have been duly given notwithstanding that such Participant is then deceased (and
whether or not the Company has notice of his death) except where his personal representatives have established their title to the satisfaction of the Company and supplied to the Company an address to which notices, documents and other communications
are to be sent. 

  
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	 	(c)	Any notice, document or other communication given to the Company in connection with the Scheme shall be delivered or sent by post to the company secretary of the
Company at the Company’s registered office or such other address as may from time to time be notified to Participants but shall not in any event be duly given unless it is actually received at such address. 

 

	 	(d)	Where the giving of any notice or document by or to the Company in connection with the Scheme would otherwise render this Scheme or the Company subject to any
securities laws which the Company in its absolute discretion considers onerous, the Board may resolve that the requirement to give such notice or document shall be dispensed with or communicated in some other form or manner.

  

	 	(e)	These rules shall be governed by and construed in accordance with the laws of Ireland. 

  
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 SCHEDULES 

 

	1.	Offer of Grant of Option 

  

	2.	Form of Letter of Acceptance 

  

	3.	Form of Option Certificate 

  

	4.	Form of Notice of Exercise of Option 

 [ON THE HEADED NOTEPAPER OF GLOBOFORCE LIMITED] 

OFFER OF GRANT OF OPTION 
 [Date] 
 Employee Name 
 Address 1 
 Address 2 

 

	Re:	GLOBOFORCE Employee Share Option Scheme (the “Scheme”) 

 Dear             , 
 I am pleased to
inform you that the Board of the Company has nominated you as a person entitled to participate in the Scheme. 
 The Board hereby offers to
grant you, upon and subject to the terms and conditions of the Scheme, Options to subscribe for             (or such lesser number) Ordinary Shares of EUR0.0001269738 each in the Company at
a subscription price of €            per share. 25% of these options will vest on each anniversary of this grant. 
 A copy of the Scheme is attached. 
 If you wish to accept this offer, you must complete the Form
of Acceptance on the enclosed duplicate of this letter and return the duplicate to me, (not later than             , 200    ), together with the sum of €1.00.

 Upon receipt of the Form of Acceptance you will be issued with an Option Certificate. 

 

	
	
	  
	CFO

  
 2 

 FORM OF ACCEPTANCE 

 

			
	To:	  	The Directors
		  	GLOBOFORCE Ltd

 I hereby accept, to the extent of             Shares, your
offer of an Option upon and subject to the terms and conditions of the offer and the Scheme. I enclose herewith the sum of €1.00 in consideration of the Grant of Option. 

 

			
		
	Signed:	 	 
		
	Dated:	 	 

  
 3 

			
	 Certificate No.: [        ]
	  	No. of Shares: [        ]

 [GLOBOFORCE Ltd] 
 Option Certificate 
 (Not Transferable) 

This is to certify that             of
                    has been granted, pursuant to the provisions of Rule 4 of the Employee Share Option Scheme (the “Scheme”), an option to
subscribe for         Ordinary Shares of EUR0.0001269738 each in the capital of Globoforce Ltd., at an Option Price of €            per share
exercisable on the terms and subject to the conditions of the Scheme. 
 For and on behalf of 

Globoforce Limited:- 
  

	
	
	  
	Stephen Cromwell
	CFO

  

					
	Note:	  	(i)	  	The option is to be exercised as to part of the shares only, this certificate will be split in accordance with the terms of the Scheme.
			
		  	(ii)	  	Notice of exercise of option is attached.

  
 4 

 NOTICE OF EXERCISE OF OPTION 

 

			
	To:	  	The Directors
		  	GLOBOFORCE Ltd

 I hereby give notice of the exercise of the option to subscribe for
[            ]1 Ordinary Shares of EUR0.0001269738 each in the capital of GLOBOFORCE Ltd granted to me under the Share Option Scheme and enclose the following: 

 

	(i)	 Option Price of             2 

  

	(ii)	Option Certificate 

  

			
		
	Signed:	 	 
		
	 Dated:
	 	 

  

			
		
	Full Name:	 	 
		
	 Address:
	 	 

 0085PL0085PLT.R3.2 GLOBOFORCE Share Optionmk 

 

	1 	 Insert the number of shares in respect of which the Option is exercised 

	2 	 Insert the subscription cost (multiply the number of shares by the Option Price as stated in the Option Certificate) 

  
 5EX-10.10

 Exhibit 10.10 

GLOBOFORCE LIMITED 
 2012
STOCK OPTION AND INCENTIVE PLAN 
  

	SECTION 1.	GENERAL PURPOSE OF THE PLAN; DEFINITIONS 

 The name of the plan is the Globoforce Limited
2012 Stock Option and Incentive Plan (the “Plan”). The purpose of the Plan is to encourage and enable the officers, employees and Non-Employee Directors of Globoforce Limited (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 as this will (i) assist in attracting and retaining the best available personnel for
positions of substantial responsibility; (ii) provide additional incentive to those persons; and (iii) promote the success of the business of the Group. 

The following terms shall be defined as set forth below: 

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

“Administrator” means either the Board or the remuneration committee of the Board or a similar committee performing the
functions of the remuneration committee and which is comprised of not less than two Non-Employee Directors who are independent. 

“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 Units and Cash-Based Awards. 
 “Award Certificate”
means a written or electronic document setting forth the terms and provisions applicable to an Award granted under the Plan in a form approved by the Administrator in its sole discretion. Each Award Certificate is subject to the terms and conditions
of the Plan. 
 “Board” means the Board of Directors of the Company. 

“Cash-Based Award” means an Award entitling the recipient to receive a cash-denominated payment. 

“Code” means the Internal Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and
interpretations. 
 “Control” has the same meaning given to that word by section 432 of the Tax Consolidation Act 1997 of
Ireland 
 “Covered Employee” means an employee who is a “Covered Employee” within the meaning of
Section 162(m) of the Code. 
 “Effective Date” means the date on which the Plan is adopted in accordance with the
Company’s Articles of Association as set forth in Section 17. 

 “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 Administrator; provided, however, that if the Stock is admitted to quotation on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”), NASDAQ Global Market, the New York
Stock Exchange or another national securities exchange, the determination shall be made by reference to market quotations. If there are no market quotations for such date, the determination shall be made by reference to the last date preceding such
date for which there are market quotations; provided further, however, that 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. 

“Group” means the Company and its Subsidiaries. 

“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 fully underwritten, firm
commitment public offering pursuant to an effective registration statement under the Act covering the offer and sale by the Company of its equity securities, or such other event as a result of or following which the Stock shall be publicly held.

 “Non-Employee Director” means a member of the Board who is not also an employee of the Company or any Subsidiary. 

“Non-Qualified Stock Option” means any Stock Option that is not an Incentive Stock Option. 

“Option” or “Stock Option” means any option to acquire Stock granted pursuant to Section 5. 

“Performance-Based Award” means any Restricted Stock Units or Cash-Based Award granted to a Covered Employee that is intended
to qualify as “performance-based compensation” under Section 162(m) of the Code and the regulations promulgated thereunder. 

“Performance Criteria” means the criteria that the Administrator selects for purposes of establishing the Performance Goal or
Performance Goals for an individual for a Performance Cycle. The Performance Criteria (which shall be applicable to the organizational level specified by the Administrator, including, but not limited to, the Company or a unit, division, group, or
Subsidiary of the Company) that will be used to establish Performance Goals are limited to the following: revenues, expense levels, cash flow, business development and financing milestones and developments, earnings before interest, taxes,
depreciation and amortization, net income (loss) (either before or after interest, taxes, depreciation and/or amortization), changes in the market price of the Stock, economic value-added, funds from operations or similar measure, sales or revenue,
acquisitions or strategic transactions, operating income (loss), cash flow 

  
 2 

 
(including, but not limited to, operating cash flow and free cash flow), return on capital, assets, equity, or investment, shareholder returns, return on sales, gross or net profit levels,
productivity, expense, margins, operating efficiency, customer satisfaction, working capital, earnings (loss) per unit of Stock, sales or market shares and number of customers, any of which may be measured either in absolute terms or as compared to
any incremental increase or as compared to results of a peer group. 
 “Performance Cycle” means one or more periods of
time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a
Performance-Based Award. Each such period shall not be less than six months. 
 “Performance Goals” means, for a
Performance Cycle, the specific goals established in writing by the Administrator for a Performance Cycle based upon the Performance Criteria. 

“Restricted Stock Units” means an Award of stock units to a grantee. 

“Sale Event” shall mean (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to
an unrelated person or entity, (ii) 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 resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction (including without limitation by way of a takeover offer pursuant to the Irish Takeover Rules or a scheme of
arrangement pursuant to the Companies Acts 1963 to 2009 of Ireland), (iii) the sale of all of the Stock of the Company to an unrelated person or entity, or (iv) any other transaction in which the owners of the Company’s outstanding
voting power prior to such transaction do not own at least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities
directly from the Company. 
 “Sale Price” means the value as determined by the Administrator of the consideration payable,
or otherwise to be received by shareholders, per share of Stock pursuant to a Sale Event. 
 “Section 409A” means
Section 409A of the Code and the regulations and other guidance promulgated thereunder. 
 “Stock” means the Ordinary
Shares in the capital of the Company, having nominal value Euro 0.01 per share or such alternative nominal value as the Board and shareholders may approve, of the Company, subject to adjustments pursuant to Section 3. 

“Subsidiary” means any corporation or other entity (other than the Company) in which the Company has at least 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 or subsidiary corporation. 

“Unrestricted Stock Award” means an Award of Stock free of any restrictions. 

  
 3 

 All references in this Plan to legislation are, unless otherwise expressly stated, to legislation operative in
the United States of America as at the date of adoption of this Plan and (except where the context otherwise requires) will be construed as referring to such legislation as amended and in force from time to time and to any legislation which
re-enacts or consolidates (with or without modification) any such legislation. 
  

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

(a) Administration of Plan. The Plan shall be administered by the Administrator. 

(b) Powers of Administrator. The Administrator shall, in consultation with members of the Group whom grantees or proposed grantees are
engaged in employment or service, 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 extent, if any, of Incentive Stock Options, Non-Qualified Stock Options, Restricted
Stock Units, and Cash-Based Awards or any combination of the foregoing, granted to any one or more grantees; 
 (iii) subject to the
definition of “Fair Market Value” in Section 1, to determine the Fair Market Value of Stock; 
 (iv) to determine the amount
of Stock to be covered by any Award; 
 (v) to determine and 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 may or may not incorporate Performance Goals and to approve the forms of Award Certificates or, if required, other
forms of agreement or document for use in connection with the Plan and any grant of an Award; 
 (vi) to accelerate at any time the
exercisability or vesting of all or any portion of any Award; 
 (vii) subject to the provisions of Section 5(b), to extend at any time
the period in which Stock Options may be exercised; and 
 (viii) at any time to prescribe, adopt, alter and repeal such rules, guidelines,
regulations and practices for administration of the Plan and for its own acts and proceedings as it shall deem advisable; 
 (ix) to
interpret the terms and provisions of the Plan and any Award (including Award Certificates or other related written instruments); 

  
 4 

 (x) to make all determinations it deems advisable for the administration of the Plan; 

(xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award; 

(xii) to decide all disputes arising in connection with the Plan; and 

(xiii) to make all other determinations deemed necessary or advisable for administering the Plan and to otherwise supervise the administration
of the Plan. 
 All decisions and interpretations of the Administrator shall be final and binding on all persons, including the Company and
Plan grantees. 
 (c) Delegation of Authority to Grant Options. Subject to applicable law, the Administrator, in its discretion, may
delegate to the Chief Executive Officer or the Chief Financial Officer of the Company all or part of the Administrator’s authority and duties with respect to the granting of Options to individuals who are (i) not subject to the reporting
and other provisions of Section 16 of the Exchange Act and (ii) not Covered Employees. Any such delegation by the Administrator shall include a limitation as to the amount of Options that may be granted during the period of the delegation
and shall contain guidelines as to the determination of the exercise price and the vesting criteria. The Administrator may revoke or amend the terms of a delegation at any time but such action shall not invalidate any prior actions of the
Administrator’s delegate or delegates that were consistent with the terms of the Plan. 
 (d) Award Certificate. Awards under
the Plan shall be evidenced by Award Certificates which set forth the terms, conditions and limitations for each Award and may, at the Administrator’s discretion, include, without limitation, the term of an Award and the provisions applicable
in the event employment or service terminates (which may include forfeiture). 
 (e) Indemnification. Neither the Board nor the
Administrator, 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 Administrator
(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 articles 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. 
 (f) Foreign Award Recipients. Notwithstanding any provision of the Plan to the contrary,
in order to comply with or take account of the laws in other countries in which the Company and its Subsidiaries operate or have employees or other individuals eligible for Awards, the Administrator, in its sole discretion, shall have the power and
authority to: (i) determine which Subsidiaries shall be covered by the Plan; (ii) determine which individuals outside the United States or Ireland are eligible to participate in the Plan; (iii) modify the terms and conditions of any
Award granted to individuals outside the United States or Ireland to comply with or take account of applicable foreign laws; (iv) establish subplans and modify 

  
 5 

 
exercise procedures and other terms and procedures, to the extent that the Administrator determines such actions to be necessary or advisable (and such subplans and/or modifications shall be
attached to this Plan as appendices); provided, however, that no such subplans and/or modifications shall increase the share limitations contained in Section 3(a) hereof; and (v) take any action, before or after an Award is made, that the
Administrator determines to be necessary or advisable to obtain approval or comply with any local governmental regulatory exemptions or approvals. Notwithstanding the foregoing, the Administrator may not take any actions hereunder, and no Awards
shall be granted, that would violate the Irish Companies Acts 1963-2009, the Irish Takeover Panel Act 1997 (as amended) and any other applicable Irish governing statute or law, the Exchange Act or any other applicable United States securities law,
the Code, or any other applicable United States governing statute or law. 
  

	SECTION 3.	STOCK ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION 

 (a) Stock Issuable. The
maximum number of Stock reserved and available for issuance under the Plan shall be the sum of (i) 210,690shares of Stock (the “Initial Limit”), (ii) shares currently available for award grant under the Company’s Employee
Share Option Scheme in place immediately prior to the adoption of this Plan and (iii) the number of shares under the Company’s Employee Share Option Scheme in place immediately prior to the adoption of this Plan which are not needed to
fulfill the Company’s obligations for awards as a result of forfeiture, expiration, cancellation, termination or net issuances of awards thereunder, subject to adjustment as provided in this Section 3 plus on January 1, 2014 and on
each January 1 thereafter, the number of shares of Stock reserved and available for issuance under the Plan shall be increased up to five percent of the number of shares of Stock outstanding on the immediately preceding December 31 or such
lesser number of shares of Stock as determined by the Administrator (the “Annual Increase”) . For the purposes of this limitation, the Stock underlying any Awards that are forfeited, canceled, held back upon exercise of an Option or
settlement of an Award to cover the exercise price or tax withholding, satisfied without the issuance of Stock or otherwise terminated (other than by exercise) shall be added back to the Stock available for issuance under the Plan. Subject to such
overall limitations, Stock may be issued up to such maximum number pursuant to any type or types of Award provided, however, that Stock Options with respect to no more than 500,000 Stock may be granted to any one individual grantee during any one
calendar year period and the maximum number of shares of Stock that may be issued in the form of Incentive Stock Options may not exceed the Initial limit cumulatively increased on January 1, 2014 and on each January 1 thereafter by the
lesser of the Annual Increase for such year or 1,000,000 shares of Stock, subject in all cases to adjustment as provided in this Section 3. The shares available for issuance under the Plan may be authorized but unissued Stock. 

(b) Changes in Stock. Subject to Section 3(c) hereof, if, in the event of any alteration taking place in the capital structure of
the Company, whether by way of capitalisation of profits or reserves or any consolidation or subdivision or reduction of the capital of the Company or otherwise, the issued Stock is increased or decreased or 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 Stock or other securities, or, if, as a result of any
merger or consolidation, sale of all or substantially all of the assets of the Company, the outstanding Stock is converted into or exchanged for securities of the Company or any successor entity (or a parent or subsidiary

  
 6 

 
thereof), the Administrator shall make an appropriate or proportionate adjustment in (i) the maximum number of shares reserved for issuance under the Plan, including the maximum number of
shares that may be issued in the form of Incentive Stock Options, (ii) the number of Stock Options that can be granted to any one individual grantee and the maximum number of shares that may be granted under a Performance-Based Award,
(iii) the number and kind of shares or other securities subject to any then outstanding Awards under the Plan, 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 provided however that the exercise price per share is not reduced below the nominal value of the share.
The adjustment by the Administrator shall be final, binding and conclusive. No fractional Stock shall be issued under the Plan resulting from any such adjustment, but the Administrator in its discretion may, subject to applicable law, make a cash
payment in lieu of fractional shares. 
 (c) Mergers and Other Transactions. In circumstances where: 

 

	 	(a)	a person or entity makes a general offer to acquire the whole of the issued ordinary share capital of the Company (other than any shares already held by such person or entity or a person Acting In Concert with such
person or entity) which is made on a condition such that if it is satisfied the person or entity making the offer will have Control of the Company; or 

  

	 	(b)	if a person becomes entitled or bound to acquire shares in the Company under sections 204 of the Irish Companies Act, 1963 or Regulation 23 or 24 of the European Communities (Takeover Bids (Directive 2004/25/EC))
Regulations 2006; 

 (in either case, the “Acquirer”) 

the Administrator may, in its absolute discretion, accelerate the exercisability of all Options as follows:- 

 

	 	(i)	the Administration must consider whether to exercise this discretion before the expiry of the period referred to in (ii) below and may exercise this discretion in respect of any Option by so specifying in the
relevant Award Certificate at the time that it grants the Award; 

  

	 	(ii)	the vesting shall take effect and the relevant options may be exercised on such day as the Administration shall determine provided that it shall be before the expiry of the period of two months beginning with the
happening of the occurrence of the circumstance referred to in (a) or (b) above as applicable; and 

  

	 	(iii)	the amount which shall vest under an Award and the Options capable of exercise shall be calculated on a pro rata basis as determined by the Administrator to reflect the extent to which the Performance Criteria have been
achieved at that time. 

 In the event of the Administrator not exercising its discretion in relation to exercisability of
Options as aforesaid and in the case of and subject to the consummation of a Sale 

  
 7 

 
Event (unless otherwise specified with respect to particular Awards in the relevant Award Certificate), all outstanding Awards granted hereunder shall terminate unless provision is made in
connection with the Sale Event in the sole discretion of the parties thereto for the assumption or continuation of Awards theretofore granted by the successor entity, or the substitution of such Awards with new Awards of the successor entity or
parent thereof (or other entity), with appropriate 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). In the event of
such termination, (i) the Company shall have the option (in its sole discretion and subject to applicable law) to make or provide for or procure a cash payment to the grantees holding Options, in exchange for the cancellation thereof, in an
amount equal to the difference between (A) the Sale Price multiplied by the number of Stock subject to outstanding Options (to the extent then exercisable (after taking into account any acceleration hereunder) at prices not in excess of the
Sale Price) and (B) the aggregate exercise price of all such outstanding Options. The Company shall also have the option (in its sole discretion and subject to applicable law) to make or procure a cash payment to the grantees holding other
Awards, in exchange for the cancellation thereof, in an amount equal to (A) the Sale Price reduced by the exercise price for each unit of Stock multiplied by (B) the number of Stock underlying each such Award, to be paid at the time of
such Sale Event or upon the vesting of such Awards, if later. 
 (d) Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company, to the extent than an Award has not been previously exercised or vested, it will terminate immediately prior to the consummation of such proposed action. The Board may, in the exercise of its sole
discretion in such instances, declare that any Award shall terminate as of a date fixed by the Board and may give each relevant grantee the right to exercise his or her Option as to all or any part of the shares, including shares as to which the
Option would not otherwise be exercisable and make such other determinations and arrangements as it shall, in its sole discretion, deem appropriate. 

(e) Substitute Awards. The Administrator may grant Awards under the Plan in substitution for stock and stock based awards held by
employees, directors or other key persons of another corporation in connection with the merger or consolidation of the employing corporation with the Company or a Subsidiary or the acquisition by the Company or a Subsidiary of property or stock of
the employing corporation. The Administrator may direct that the substitute awards be granted on such terms and conditions as the Administrator considers appropriate in the circumstances. Any substitute Awards granted under the Plan shall not count
against the share limitation set forth in Section 3(a). 
  

	SECTION 4.	ELIGIBILITY 

 Grantees under the Plan will be such full or part-time officers and other
employees and Non-Employee Directors of the Company and its Subsidiaries as are selected from time to time by the Administrator in its sole discretion. 

  
 8 

	SECTION 5.	STOCK OPTIONS 

 Any Stock Option granted under the Plan shall be in such form as the
Administrator may from time to time approve. 
 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. 
 Stock Options granted pursuant to this
Section 5 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 Administrator shall deem desirable. 

(a) Exercise Price. Subject to Section 9, the exercise price for the Stock covered by a Stock Option granted pursuant to this
Section 5 shall be determined by the Administrator at the time of grant but shall not be less than 100 percent of the Fair Market Value on the date of grant. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the
option price of such Incentive Stock Option shall, subject to Section 9, be not less than 110 percent of the Fair Market Value on the grant date. 

(b) Option Term. The term of each Stock Option shall be fixed by the Administrator, but no Stock Option shall be exercisable more than
seven years after the date the Stock Option is granted. 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 date of grant. 

(c) Exercisability; Rights of a Shareholder. Stock Options shall become exercisable at such time or times, whether or not in
installments, as shall be determined by the Administrator at or after the grant date. The Administrator may at any time accelerate the exercisability of all or any portion of any Stock Option. An optionee shall have the rights of a shareholder only
as to shares acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. 
 (d) Method of Exercise. Stock
Options may be exercised in whole or in part, by giving written or electronic notice of exercise to the Company, specifying the number of shares to be acquired and according to the terms of the Plan and at such times and under such conditions as
determined by the Administrator and set forth in the Award Certificate. Payment of the exercise price may be made by one or more of the following methods to the extent provided in the Award Certificate: 

(i) In cash, by certified or bank check or other instrument acceptable to the Administrator or by bank credit transfer; 

(ii) 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 exercise price; provided that in the event that the optionee chooses to pay the exercise 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 Administrator shall prescribe as a condition of such payment procedure; or 

(iii) 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 Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. 

  
 9 

 Payment instruments will be received subject to collection. The transfer or allotment to the optionee on the
records of the Company or of the transfer agent of Stock to be acquired pursuant to the exercise of a Stock Option will be contingent upon receipt from the optionee (or a third party acting on his behalf in accordance with the provisions of the
Stock Option) by the Company of the full exercise price for such shares and the fulfillment of any other requirements contained in the Award Certificate or applicable provisions of laws (including the satisfaction of any withholding taxes that the
Company is obligated to withhold with respect to the optionee). In the event that the Company establishes, for itself or using the services of a third party, an automated system for the exercise of Stock Options, such as a system using an internet
website or interactive voice response, then the paperless exercise of Stock Options may be permitted through the use of such an automated system. 
 An
Option shall be deemed exercised when the Company receives: (i) notice of exercise (from the person entitled to exercise the Option, and (ii) full payment for the shares with respect to which the Option is exercised (both in accordance
with this Section 5). 
 (e) 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 time of grant) of the Stock with respect to which Incentive Stock Options granted under this Plan and any other plan of the Company or
its parent and subsidiary corporations become exercisable for the first time by an optionee during any calendar year shall not exceed US$100,000. To the extent that any Stock Option exceeds this limit, it shall constitute a Non-Qualified Stock
Option. 
  

	SECTION 6.	RESTRICTED STOCK UNITS 

 (a) Nature of Restricted Stock Units. The Administrator
shall determine the restrictions and conditions applicable to each Restricted Stock Unit at the time of grant. Conditions may be based on continuing employment (or other service relationship) and/or achievement of Performance Goals. The terms and
conditions of each Award Certificate shall be determined by the Administrator, and such terms and conditions may differ among individual Awards and grantees. At the end of the relevant service or performance period, the Restricted Stock Units, to
the extent vested, shall be settled in the form of Stock provided however that each grantee pays no less than the nominal value for each share of Stock issued on settlement, such payment to be made by one of the methods referred to in
Section 5(d). To the extent that an award of Restricted Stock Units is subject to Section 409A, it may contain such additional terms and conditions as the Administrator shall determine in its sole discretion in order for such Award to
comply with the requirements of Section 409A. 

  
 10 

 (b) Election to Receive Restricted Stock Units in Lieu of Compensation. The Administrator
may, in its sole discretion and subject to applicable law, permit a grantee to elect to receive a portion of future cash compensation otherwise due to such grantee in the form of an award of Restricted Stock Units. Any such election shall be made in
writing and shall be delivered to the Company no later than the date specified by the Administrator and in accordance with Section 409A and such other rules and procedures established by the Administrator. Any such future cash compensation that
the grantee elects to defer shall be converted to a fixed number of Restricted Stock Units based on the Fair Market Value of Stock on the date the compensation would otherwise have been paid to the grantee if such payment had not been deferred as
provided herein. The Administrator shall have the sole right to determine whether and under what circumstances to permit such elections and to impose such limitations and other terms and conditions thereon as the Administrator deems appropriate. Any
Restricted Stock Units that are elected to be received in lieu of cash compensation shall be fully vested, unless otherwise provided in the Award Certificate. 

(c) Rights as a Shareholder. A grantee shall have the rights as a shareholder only as to Stock acquired by the grantee upon settlement
of Restricted Stock Units. 
 (d) Termination. Except as may otherwise be provided by the Administrator either in the Award
Certificate or, subject to Section 14 below, in writing after the Award is issued, a grantee’s right in all Restricted Stock Units that have not vested shall automatically terminate upon the grantee’s termination of employment (or
cessation of service relationship) with the Company and its Subsidiaries for any reason. 
  

	SECTION 7.	CASH-BASED AWARDS 

 Grant of Cash-Based Awards. The Administrator may, in its sole
discretion, grant Cash-Based Awards to any grantee in such number or amount and upon such terms, and subject to such conditions, as the Administrator shall determine at the time of grant. The Administrator shall determine the maximum duration of the
Cash-Based Award, the amount of cash to which the Cash-Based Award pertains, the conditions upon which the Cash-Based Award shall become vested or payable, and such other provisions as the Administrator shall determine. Each Cash-Based Award shall
specify a cash-denominated payment amount, formula or payment ranges as determined by the Administrator. Payment, if any, with respect to a Cash-Based Award shall be made in accordance with the terms of the Award and may be made in cash or Stock, as
the Administrator determines provided however that each grantee pays no less than the nominal value for the Stock issued (if applicable), such payment to be made by one of the methods referred to in Section 5(d). 

 

	SECTION 8.	PERFORMANCE-BASED AWARDS TO COVERED EMPLOYEES 

 (a) Performance-Based Awards. Any
employee or other key person providing services to the Company or any Subsidiary and who is selected by the Administrator may be granted one or more Performance-Based Awards in the form of Restricted Stock Units or Cash-Based Awards payable upon the
attainment of Performance Goals that are established by the Administrator and relate to one or more of the Performance Criteria, in each case on a specified date or dates or over any period or periods determined by the Administrator. The
Administrator 

  
 11 

 
shall define in an objective fashion the manner of calculating the Performance Criteria it selects to use for any Performance Cycle. Depending on the Performance Criteria used to establish such
Performance Goals, the Performance Goals may be expressed in terms of overall Company performance or the performance of a corporate entity within the Group, a division, business unit, or an individual. The Administrator, in its discretion, may
adjust or modify the calculation of Performance Goals for such Performance Cycle in order to prevent the dilution or enlargement of the rights of an individual (i) in the event of, or in anticipation of, any unusual or extraordinary corporate
item, transaction, event or development, (ii) in recognition of, or in anticipation of, any other unusual or nonrecurring events affecting the Company or any Subsidiary, or the financial statements of the Company or any Subsidiary, or
(iii) in response to, or in anticipation of, changes in applicable laws, regulations, accounting principles, or business conditions provided however, that the Administrator may not exercise such discretion in a manner that would increase the
Performance-Based Award granted to a Covered Employee. Each Performance-Based Award shall comply with the provisions set forth below. 
 (b)
Grant of Performance-Based Awards. With respect to each Performance-Based Award granted to a Covered Employee, the Administrator shall select, within the first 90 days of a Performance Cycle (or, if shorter, within the maximum period allowed
under Section 162(m) of the Code) the Performance Criteria for such grant, and the Performance Goals with respect to each Performance Criterion (including a threshold level of performance below which no amount will become payable with respect
to such Award). Each Performance-Based Award will specify the amount payable, or the formula for determining the amount payable, upon achievement of the various applicable performance targets. The Performance Criteria established by the
Administrator may be (but need not be) different for each Performance Cycle and different Performance Goals may be applicable to Performance-Based Awards granted to different Covered Employees. 

(c) Payment of Performance-Based Awards. Following the completion of a Performance Cycle, the Administrator shall meet to review and
certify in writing whether, and to what extent, the Performance Goals for the Performance Cycle have been achieved and, if so, to also calculate and certify in writing the amount of the Performance-Based Awards earned for the Performance Cycle. The
Administrator shall then determine the actual size of each Covered Employee’s Performance-Based Award and, in doing so, may reduce or eliminate the amount of the Performance-Based Award for a Covered Employee if, in its sole judgment, such
reduction or elimination is appropriate. 
 (d) Maximum Award Payable. (a) Maximum Award Payable. The maximum Performance-Based
Award payable to any one Covered Employee under the Plan for a Performance Cycle is 500,000 units of Stock (subject to adjustment as provided in Section 3(b) hereof) or US$3,000,000 in the case of a Performance-Based Award that is a Cash-Based
Award. 
  

	SECTION 9.	MINIMUM EXERCISE PRICE 

 (a) Notwithstanding any other provision of the Plan, the
exercise price of Stock comprised in any Award shall not in any event be less than the nominal value of the share(s) constituting such stock. 

  
 12 

	SECTION 10.	TRANSFERABILITY OF AWARDS 

 (a) Transferability. Except as provided in
Section 10(b) below, during a grantee’s lifetime, his or her Awards shall be exercisable only by the grantee, or by the grantee’s legal representative or guardian in the event of the grantee’s incapacity. No Awards shall be sold,
assigned, transferred or otherwise encumbered or disposed of by a grantee other than by will or by the laws of descent and distribution or pursuant to a domestic relations order. No Awards shall be subject, in whole or in part, to attachment,
execution, or levy of any kind, and any purported transfer in violation hereof shall be null and void. An Award shall, unless determined otherwise by the Administrator, lapse forthwith if a grantee purports to sell, assign, transfer, encumber or
otherwise dispose of such Award except in accordance with the express terms of the Plan or as may otherwise be permitted by the Administrator in its absolute discretion. 

(b) Administrator Action. Notwithstanding Section 10(a), and subject to compliance with applicable law the Administrator, in its
discretion, may provide either in the Award Certificate regarding a given Award or by subsequent written approval that the grantee (who is an employee or director) may transfer his or her Awards (other than any Incentive Stock Options or Restricted
Stock Units) to his or her immediate family members, to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners, 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. In no event may an Award be transferred by a grantee for value. 

(c) Family Member. For purposes of Section 10(b), “family member” shall mean a grantee’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
grantee’s household (other than a tenant of the grantee), a trust in which these persons (or the grantee) have more than 50 percent of the beneficial interest, a foundation in which these persons (or the grantee) control the management of
assets, and any other entity in which these persons (or the grantee) own more than 50 percent of the voting interests. 
 (d) 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 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 Administrator and shall not be effective until received by the Administrator. 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. 
  

	SECTION 11.	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 Stock or other amounts received thereunder first becomes includable in the gross income of the grantee for Federal income tax purposes or the purposes of income tax or social insurance in any
jurisdiction or otherwise becomes a taxable event in any jurisdiction in which the grantee is liable to tax, pay to the Company or any relevant Subsidiary, 

  
 13 

 
or make arrangements satisfactory to the Administrator regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld by the Company or relevant Subsidiary
with respect to such income. The Company and its Subsidiaries 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 evidence
of book entry (or stock certificates, if applicable) to any grantee is subject to and conditioned on tax withholding obligations being satisfied by the grantee. 

(b) Payment in Stock. Subject to approval by the Administrator, a grantee may elect to have the Company’s minimum required tax
withholding obligation satisfied, in whole or in part, by authorizing the Company to withhold from Stock to be issued pursuant to any Award a number of shares with an aggregate Fair Market Value (as of the date the withholding is effected) that
would satisfy the withholding amount due. 
  

	SECTION 12.	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 specified by the Administrator from time to time in order to
comply with Section 409A. 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 then considered a “specified employee”
(within the meaning of Section 409A), 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 that such delay is necessary to prevent such payment from being subject to interest, penalties and/or additional tax imposed pursuant to Section 409A. Further, the settlement of any such Award may not be accelerated except to the
extent permitted by Section 409A. 
  

	SECTION 13.	TRANSFER, LEAVE OF ABSENCE, ETC. 

 For purposes of the Plan, the following events shall
not be deemed a termination of employment: 
 (a) a transfer to the employment of the Company from a Subsidiary or from the Company to a
Subsidiary, or from one Subsidiary to another; or 
 (b) an approved leave of absence for maternity leave, military service or sickness, or
for any other purpose approved by the Company, if the employee’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 Administrator otherwise so
provides in writing. 
  

	SECTION 14.	AMENDMENTS AND TERMINATION 

 The Board may, at any time, amend or discontinue the Plan
and the Administrator 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
holder’s consent. To the extent required under the rules of any securities exchange or market system on which the Stock is listed, to the extent determined by 

  
 14 

 
the Administrator to be required by the Code to ensure that Incentive Stock Options granted under the Plan are qualified under Section 422 of the Code, or to ensure that compensation earned
under Awards qualifies as performance-based compensation under Section 162(m) of the Code, Plan amendments shall be subject to approval by the Company shareholders entitled to vote at a meeting of shareholders. Nothing in this Section 14
shall limit the Administrator’s authority to take any action permitted pursuant to Section 3(b), 3(c) or 3(d). A grantee shall not be entitled to any compensation or damages whatsoever or howsoever described, by reason of any termination,
withdrawal or alteration of rights or expectations under the Plan. 
  

	SECTION 15.	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 unsecured creditor of the Company unless the Administrator shall otherwise expressly determine in connection
with any Award or Awards. In its sole discretion, the Administrator may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect to Awards hereunder, provided that
the existence of such trusts or other arrangements is consistent with the foregoing sentence. 
  

	SECTION 16.	GENERAL PROVISIONS 

 (a) No Distribution. The Administrator may require each
person acquiring Stock 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, sale or transfer thereof. 

(b) Delivery of Stock Certificates. Stock certificates to grantees under this Plan, if required under the articles of association of
the Company, 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 or the grantee’s broker or nominee.
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
or the grantee’s broker or nominee notice of issuance and recorded the issuance in its records (which may include electronic “book entry” records or electronic delivery to Depository Trust Company). Notwithstanding anything herein to
the contrary, the Company shall not be required to issue or deliver any certificates evidencing Stock pursuant to the exercise of any Award, unless and until the Administrator has determined, with advice of counsel (to the extent that the
Administrator deems such advice necessary or advisable), that the issuance and delivery of such certificates is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on
which the Stock is listed, quoted or traded. All Stock certificates delivered pursuant to the Plan shall be subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal, state or
foreign jurisdiction, securities or other laws, rules and quotation system on which the Stock is listed, quoted or traded. The Administrator may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to
the terms and conditions provided herein, the Administrator may require that an individual make such reasonable covenants, 

  
 15 

 
agreements, and representations as the Administrator, in its discretion, deems necessary or advisable in order to comply with any such laws, regulations or requirements. The Administrator shall
have the right to require any individual to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Administrator. 

(c) Shareholder Rights. Until Stock is deemed delivered in accordance with Section 16(b), no right to vote or receive dividends or
any other rights of a shareholder will exist with respect to Stock to be issued in connection with an Award, notwithstanding the exercise of a Stock Option or any other action by the grantee with respect to an Award. 

(d) Other Compensation Arrangements; Employment and Other Rights. 

(i) Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, including trusts, and
such arrangements may be either generally applicable or applicable only in specific cases. 
 (ii) Neither the Plan nor any Option shall
confer upon any grantee any right with respect to continuing the grantee’s employment relationship with any member of the Group, nor shall they interfere in any way with the grantee’s right or the right of any member of the Group to
terminate such employment relationship at any time, with or without cause. A grantee’s employment will be deemed to have been terminated where that grantee ceases to be employed by a member of the Group. 

(iii) The Plan shall not form part of any contract of employment between any member of the Group and any employee. Any benefit to an employee
under the Plan shall not form part of his or her remuneration or count as remuneration for pension fund or other purposes. Subject to Section 13, it shall be a condition of the Plan that, in the event of the termination of a grantee’s
status as an employee (for whatever reason), he or she shall not be entitled to any compensation whatsoever by reason of any alteration or termination, thereon, of his or her rights or expectations under the Plan. 

(e) No person shall be entitled as of right to participate in the Plan and the decision as to who shall have the opportunity to participate
and the time and extent of such participation will, subject to the rules of the Plan, be made by the Administrator in its absolute discretion. 

(f) Trading Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to the Company’s insider
trading policies and procedures, as in effect from time to time. 
 (g) Forfeiture of Awards under Sarbanes-Oxley Act or at the option of
the Company. If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under securities laws of any jurisdiction, any
grantee who is: (i) one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002 or equivalent laws of any jurisdiction or (ii) at the option of the Company may be subject to forfeiture in
such instances shall reimburse the Company for the amount of any Award received by such individual under the Plan during the 12-month period following the first public issuance 

  
 16 

 
or filing with the United States Securities and Exchange Commission or any other regulatory authority having jurisdiction, as the case may be, of the financial document embodying such financial
reporting requirement. 
 (h) Renunciation. A grantee may at any time renounce an Award by serving notice on the Company of his or
her intention to so renounce. The renunciation shall be effective from the date of receipt of such notice by the Company, upon which date the grantee’s Awards to which such notice relates shall be deemed to have lapsed and any Stock covered by
such Awards shall revert to the Plan. 
 (i) Brokerage Account. At the Company’s election, the delivery of any Stock to be
issued under the Plan may occur through a transfer agent or brokerage account established for this purpose (including an account with Depository Trust Company) and the Company may require as a condition to participation in the Plan that each grantee
establish an account with a brokerage firm selected by the Company. 
 (j) Restrictions on Exercise. The Administrator may, in its
discretion, require as conditions to the exercise of any Option or vesting of any Award that any shares due to be delivered upon the exercise of such Option or vesting of such Award shall have been duly listed, upon official notice of issuance, upon
a stock exchange or market, and that a registration statement under the Securities Act of 1933, as amended, with respect to the relevant shares shall be effective. 

(k) Execution. The Administrator shall be entitled to authorise any person to execute on behalf of a grantee, at the request of the
grantee, any document relating to the Plan insofar as such document is required to be executed pursuant hereto. 
 (l) Legal
Compliance. Shares shall not be issued pursuant to the exercise of an Option or otherwise under the Plan unless the exercise of such Option and the issuance and delivery of such shares shall comply with all applicable laws and the inability of
the Company to obtain authority from any regulatory body or other third party having jurisdiction, which authority is deemed by the Company’s legal counsel to be necessary to the lawful issuance and delivery of any shares under the Plan, shall
relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority shall not have been obtained. 

(m) Grants Exceeding Approved Number of Shares. If the shares covered by an Option result in the number of shares which may
be issued under the Plan being exceeded, such Option shall be void with respect to such excess shares and the Company shall have no liability therefor. 

(n) Data Protection Consents: For the purposes of any applicable data protection laws, each grantee is required, as a condition of
participation in the Plan, to consent to the processing and transfer of all personal data which is required for the purpose of the Plan. This consent extends to permitting the transfer of data to any jurisdiction regardless of whether it is deemed
to have an adequate level of data protection under European Union data protection laws. 

  
 17 

	SECTION 17.	EFFECTIVE DATE OF PLAN 

 This Plan shall become effective when adopted in accordance with
the Company’s Articles of Association in accordance with applicable law and applicable stock exchange rules. No grants of Stock Options and other Awards may be made hereunder after the seventh anniversary of the Effective Date. 

 

	SECTION 18.	GOVERNING LAW 

 This Plan and all Awards and actions taken thereunder shall be governed
by, and construed in accordance with, the laws of Ireland, applied without regard to conflict of law principles. 

  
 18 

 INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE GLOBOFORCE LIMITED 

2012 STOCK OPTION AND INCENTIVE PLAN 
  

											
	Name of Optionee:	 		 	  
	  	
					
	No. of Option Shares:	 		 	  
	 		  	
						
	Option Exercise Price per Share:	 		 	$	 	  
	 		  	

											
		 		 	[FMV on Grant Date but not less than Euro 0.01 or such greater amount as is equivalent to thenominal value of the Ordinary Shares comprised in the share capital of the Company (110% of FMV if a 10% owner)]	  	
					
	Grant Date:	 		 	  
	 		  	
					
	Expiration Date:	 		 	  
	 		  	
		 		 	[up to 7 years from Grant Date (5 if a 10% owner)]	  	

 Pursuant to the Globoforce Limited 2012 Stock Option and Incentive Plan as amended through the date hereof
(the “Plan”), Globoforce Limited (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to subscribe on or prior to the Expiration Date specified above for all or part of the number of
Ordinary Shares of the Company (the “Stock”), specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except
as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of
Option Shares on the dates indicated so long as the Optionee remains an employee of the Company or a Subsidiary on such dates: 
  

			
	 Incremental Number of

Option Shares Exercisable*
	  	 Exercisability Date

		
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	

  

	*	Max. of $100,000 per yr. 

 Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior
to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to subscribe for some or all of the Option Shares capable of being subscribed for at the time of such notice. This notice shall specify the number of
Option Shares to be subscribed. 
 Payment of the subscription price for the Option Shares may be made by one or more of the following
methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) 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 to pay the option subscription price, provided that in the event the Optionee chooses to pay the subscription 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 Administrator shall prescribe as a condition of such payment procedure; or (iii) a combination of (i) and (ii) above. Payment
instruments will be received subject to collection. 
 The registration of the nominee of the Depository Trust Company in accordance with
2(b) below in the register of members of the Company as registered holder of the Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full subscription price for the Option Shares, as set forth above,
(ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require
to satisfy itself that the issuance of Stock to be subscribed for pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. 

(b) The shares of Stock subscribed for upon exercise of this Stock Option shall be issued to the nominee of the Depository Trust Company to be
held for the benefit of the Optionee upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such issue and with the requirements hereof and of the Plan. The
determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this
Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued the shares to the nominee of the Depository Trust Company to be held for the benefit of the Optionee, and the
nominee of the Depository Trust Company shall have been entered as the registered holder of the shares or Stock in the register of members of the Company. Thereupon, the Optionee shall, through the Depository Trust Company, have the benefit of the
full voting, dividend and other ownership rights with respect to such shares of Stock. 

  
 2 

 (c) The minimum number of shares with respect to which this Stock Option may be exercised at any
one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time. 

(d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Employment. The Option is granted in recognition of the Optionee’s employment with [Employer
Name]. If the Optionee’s employment by the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this
Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of twelve (12) months from the date of death or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s employment terminates by reason of the Optionee’s disability (as
determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such disability, may thereafter be exercised by the Optionee for a period of twelve (12) months from the date
of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s employment terminates for Cause, any portion of this Stock Option outstanding on such
date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment agreement between the Company and the Optionee, a determination by the
Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere or
equivalent by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee’s duties to the
Company. 
 (d) Other Termination. If the Optionee’s employment terminates for any reason other than the Optionee’s death,
the Optionee’s disability, or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three
(3) months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
 3 

 The Administrator’s determination of the reason for termination of the Optionee’s
employment shall be conclusive and binding on the Optionee and his or her representatives or legatees. 
 4. 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, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms
in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein. 
 5.
Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is
exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 

6. Status of the Stock Option. This Stock Option is intended to qualify as an “incentive stock option” under Section 422
of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that this Stock Option qualifies as such. The Optionee should consult with his or her own tax advisors regarding the tax effects
of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. To the extent any portion of this Stock Option does not so
qualify as an “incentive stock option,” such portion shall be deemed to be a non-qualified stock option. If the Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any Option Shares within the
one-year period beginning on the date after the transfer of such shares to him or her, or within the two-year period beginning on the day after the grant of this Stock Option, he or she will so notify the Company within 30 days after such
disposition. 
 7. Tax Withholding. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes
a taxable event for Federal income tax purposes, or for the purposes of any income tax or social insurance in any jurisdiction in which the Optionee is liable to tax, pay to the Company or make arrangements satisfactory to the Administrator for
payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the minimum required tax withholding obligation to be satisfied, in whole or in part, by
withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due. 

8. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Optionee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Optionee at any time. 

  
 4 

 9. 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. 
 10.
Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as
one party may subsequently furnish to the other party in writing. 
  

			
	GLOBOFORCE LIMITED
		
	By:	 	  

		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.

  

							
	Dated:	 	  
	 		 	  

		 		 		 	Optionee’s Signature
				
		 		 		 	Optionee’s name and address:
				
		 		 		 	  

				
		 		 		 	  

				
		 		 		 	  

  
 5 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE GLOBOFORCE LIMITED 

2012 STOCK OPTION AND INCENTIVE PLAN 
  

											
	Name of Optionee:	 		 	  
	  	
					
	No. of Option Shares:	 		 	  
	  		  	
						
	Option Exercise Price per Share:	 		 	$	 	  
	  		  	

											
		 		 	[FMV on Grant Date but not less than Euro 0.01 or such greater amount as is equivalent to the nominal value of the Ordinary Shares comprised in the share capital of the Company]	  	
					
	Grant Date:	 		 	  
	  		  	
					
	Expiration Date:	 		 	  
	  		  	
		 		 	[up to 7 years from Grant Date]	  	

 Pursuant to the Globoforce Limited 2012 Stock Option and Incentive Plan as amended through the date hereof
(the “Plan”), Globoforce Limited (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to subscribe on or prior to the Expiration Date specified above for all or part of the number of
shares of Ordinary Shares of the Company (the “Stock”) specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an
“incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 
 1. Exercisability
Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate
the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated so long as Optionee remains an employee of the Company or a Subsidiary on such dates: 

 

			
	 Incremental Number of

Option Shares Exercisable
	  	 Exercisability Date

		
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	
	
                       
      (    %)
	  	

 Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior
to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to subscribe for some or all of the Option Shares capable of being subscribed for at the time of such notice. This notice shall specify the number of
Option Shares to be subscribed. 
 Payment of the subscription price for the Option Shares may be made by one or more of the following
methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) 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 to pay the option subscription price, provided that in the event the Optionee chooses to pay the subscription 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 Administrator shall prescribe as a condition of such payment procedure; (iii) by any “net exercise” arrangement acceptable to
the Administrator pursuant to which the Company will withhold a number of the shares of Stock which are issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price and the
Optionee will pay in cash, by certified or bank check or other instrument acceptable to the Administrator, an amount equal to the nominal value of the number of the shares of Stock which to be issued to the Optionee after the relevant withholding;
or (iv) a combination of (i), (ii) and (iii) above. Payment instruments will be received subject to collection. 
 The
registration of the nominee of the Depository Trust Company in accordance with 2(b) below in the register of members of the Company as registered holder of the Option Shares will be contingent upon (i) the Company’s receipt from the
Optionee of the full subscription price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the
Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be subscribed for pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of
Stock will be in compliance with applicable laws and regulations. 
 (b) The shares of Stock subscribed for upon exercise of this Stock
Option shall be issued to a nominee of the Depository Trust Company to be held for the benefit of the Optionee upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with
such issue and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights
of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall 

  
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have issued the shares to the nominee of the Depository Trust Company to be held for the benefit of the Optionee, and the nominee of the Depository Trust Company shall have been entered as the
registered holder of the shares or Stock in the register of members of the Company. Thereupon, the Optionee shall, through the Depository Trust Company, have the benefit of the full voting, dividend and other ownership rights with respect to such
shares of Stock. 
 (c) The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100
shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time. 

(d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Employment. The Option is granted in recognition of the Optionee’s employment with [Employer
Name]. If the Optionee’s employment by the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this
Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of twelve (12) months from the date of death or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s employment terminates by reason of the Optionee’s disability (as
determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such disability, may thereafter be exercised by the Optionee for a period of twelve (12) months from the date
of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s employment terminates for Cause, any portion of this Stock Option outstanding on such
date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment agreement between the Company and the Optionee, a determination by the
Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere or
equivalent by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee’s duties to the
Company. 
 (d) Other Termination. If the Optionee’s employment terminates for any reason other than the Optionee’s death,
the Optionee’s disability or Cause, and unless otherwise 

  
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determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three
(3) months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

The Administrator’s determination of the reason for termination of the Optionee’s employment shall be conclusive and binding on the
Optionee and his or her representatives or legatees. 
 4. 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, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning
specified in the Plan, unless a different meaning is specified herein. 
 5. Transferability. This Agreement is personal to the
Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the
Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 
 6. Tax Withholding. The Optionee shall, not
later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, or for the purpose of any income tax or social insurance in any jurisdiction in which the Optionee is liable to tax, pay to
the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the minimum required
tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due.

 7. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Optionee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Optionee at any time. 

8. 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. 
 9. Notices. Notices hereunder shall be
mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the
other party in writing. 

  
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	GLOBOFORCE LIMITED
		
	By:	 	  

		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.

  

							
	Dated:	 	  
	 		 	  

		 		 		 	Optionee’s Signature
				
		 		 		 	Optionee’s name and address:
				
		 		 		 	  

				
		 		 		 	  

				
		 		 		 	  

  
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