Document:

EX-10.50

 Exhibit 10.50 

THIRD AMENDMENT TO 

AMENDMENT, MODIFICATION, AND SUPPLEMENT TO 

SECURITIES PURCHASE AMENDMENT 

Dated May 15, 2015 
 The
undersigned parties hereby amend that certain Amendment, Modification and Supplement to the Securities Purchase Agreement, dated as of March 24, 2015, as amended on April 8, 2015 and April 24, 2015, (the “Amendment”) by and among
Medbox, Inc., a Nevada corporation (the “Company”) and Redwood Management, LLC (also acting on behalf of Redwood Fund III Ltd., Redwood Fund II LLC and RDW Capital, LLC) (the “Purchaser”) as of the date hereof as
follows: 
 Section 2.1(d) of the Amendment shall hereby be deleted in its entirety and replaced with the following language: 

“(d) a fourth Tranche in the Principal Amount of $1,000,000 for a Subscription Amount of $1,000,000, $150,000 of which shall be closed on
each of May 15, May 22, and May 29, 2015 and $550,000 of which shall be closed within two (2) days of the SEC Effective Date (in the aggregate, the “Fourth Modified Closing”), provided however, that the Third Modified Closing has
occurred and each of the conditions set out in Section 2.4 hereof shall have been satisfied;” 
 Except as expressly provided herein, all other
figures, terms and conditions in the Amendment shall remain unmodified and in full force and effect as originally written. 
 This amendment may be executed
in counterpart, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party. 

[The remainder of this page has been intentionally left blank.] 

 IN WITNESS WHEREOF, the parties hereto have caused this amendment to be executed as a deed on the
date first above written. 
  

			
	MEDBOX, INC.
		
	By:    		

			Name: C. Douglas Mitchell
			Title: Chief Financial Officer

  

			
	 REDWOOD MANAGEMENT, LLC (on behalf

of itself and Redwood Fund III Ltd., Redwood Fund II LLC and RDW Capital, LLC)

		
	By:    		 

			Name: John DeNobile
			Title:   Manager

 [Signature page to Third Amendment to Amendment, Modification and Supplement to Securities
Purchase Agreement]EX-10.51

 Exhibit 10.51 

MEDBOX, INC. 
 600
WILSHIRE BLVD., SUITE 1500, 
 LOS ANGELES, CA 90069 

May 15, 2015 
 YA Global
Master SPV, Ltd. 
 c/o Yorkville Advisors Global LP 

Investment Manager 
 1012 Springfield Avenue 

Mountainside, New Jersey 07092 
 Gentlemen: 

The Company has entered into a Securities Purchase Agreement, dated September 18, 2014 (the “Original Purchase Agreement”)
with YA Global Master SPV, Ltd (the “Purchaser”) providing for the issuance of 5% Convertible Debentures in the aggregate principal amount of $2,500,000 (the “Debentures”). On September 19, 2014 the Company issued
the first Debenture under the Original Purchase Agreement to the Purchaser in the principal amount of $1,000,000. On January 28, 2015 the Company amended and restated this $1,000,000 Debenture and issued the Purchaser and Amended and Restated
version of the Debenture reflecting the modified terms. Also on January 28, 2015 the Company and the Purchaser entered into an Amendment, Modification, and Supplement to the Securities Purchase Agreement (the “Amendment Agreement”)
which amended the Original Purchase Agreement on January 28, 2015 (the Original Purchase Agreement, as amended shall be referred to herein as the “Purchase Agreement”), pursuant to which certain terms and conditions of the Original
Purchase Agreement were modified and the form of the Debentures to be issued at the closing were updated. Capitalized terms not defined in this letter shall have the meanings set forth in the Purchase Agreement. 

This letter memorializes the parties’ understanding with respect to the waiver of certain closing conditions under the Purchase Agreement
with respect to the Fifth Modified Closing and a clarification of the total amount of the Fifth Modified Closing. 
 The parties acknowledge
and agree that the Fifth Modified Closing as set forth in the Purchase Agreement as amended pursuant to the Amendment Agreement, was originally determined to be in a Principal Amount of $1,200,000 and for a Subscription Amount of $1,200,000, and was
originally contemplated to be closed within 2 days of the SEC Effective Date. On April 3, 2015 the parties further modified the Fifth Modified Closing and agreed to advance $200,000 of Principal Amount for a Subscription Amount of $200,000 on the
date thereof and reduce the remaining portion of the Fifth Modified Closing by an equal amount so that in total the amount of the Fifth Modified Closing remained the same. On April 24, 2015, the parties again desired to advance a portion of the
balance of the Fifth Modified Closing, this time in the amount of $100,000, and reduce the remaining portion of the Fifth Modified Closing by an 

 equivalent amount so that the total amount of the Fifth Modified Closing remained the same. As of the date
hereof, $300,000 in Principal Amount of the Fifth Modified Closing has been closed and funded and therefore, a balance of $900,000 in Principal Amount (and not $1,000,000 as stated in error in the April 24, 2015 letter) remains to be closed and
funded. 
 The parties now further agree that the Fifth Modified Closing shall be modified again and split into two separate closings as
follows, with the total amount remaining at $900,000: 
  

	 	(a)	a Tranche in the Principal Amount of $150,000 for a Subscription Amount of $150,000 which shall be closed and funded on the date hereof, 

 

	 	(b)	a Tranche in the Principal Amount of $750,000 for a Subscription Amount of $750,000 shall be closed within two (2) days of the SEC Effective, provided however, that each of the conditions set out in Section 2.4 of the
Purchase Agreement shall have been satisfied. 

 The parties further agree that the Fixed Conversion Price, as defined in each
of the Debentures, shall remain $0.88. 
 Other than as set forth herein, no other provisions of the Purchase Agreement have been waived or
modified, and remain in full force and effect. 
 Very truly yours, 
  

			
	Medbox, Inc.
		
	By:	 	

	Name:	 	
	Title:	 	CFO

 Acknowledged and Agreed: 
  

			
	YA Global Master SPV, Ltd.
	
	By: Yorkville Advisors Global, LP
	Its: Investment Manager
		
	By:	 	

	Name:	 	Gerald Eicke
	Title:	 	Managing MemberExhibit 10.1

 Exhibit 10.1 

XENOPORT, INC. 

2015 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
JANUARY 27, 2015 
 APPROVED BY THE STOCKHOLDERS:
MAY 19, 2015 
  

	1.	GENERAL; PURPOSE. 

 (a) The Plan provides a means by
which Eligible Employees of the Company and certain designated Related Corporations may be given an opportunity to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under an
Employee Stock Purchase Plan. 
 (b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and
retain the services of new Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 
  

	2.	DEFINITIONS. 

 As used in the Plan, the following definitions will apply
to the capitalized terms indicated below: 
 (a) “Adoption Date” means January 27, 2015, which is the
date the Plan was adopted by the Board. 
 (b) “Board” means the Board of Directors of the Company. 

(c) “Capitalization Adjustment” means any change that is made in, or other events that occur with respect to,
the Common Stock subject to the Plan or subject to any Purchase Right after the Adoption Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend,
dividend in property other than cash, large nonrecurring cash dividend, stock split, reverse stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other similar equity restructuring
transaction, as that term is used in Statement of Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible securities of the Company
will not be treated as a Capitalization Adjustment. 
 (d) “Code” means the Internal Revenue Code of 1986, as
amended, including any applicable regulations and guidance thereunder. 
 (e) “Committee” means a
committee of one (1) or more members of the Board to whom authority has been delegated by the Board in accordance with Section 3(c). 

(f) “Common Stock” means the common stock of the Company. 

  
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 (g) “Company” means XenoPort, Inc., a Delaware corporation. 

(h) “Contributions” means the payroll deductions and other additional payments specifically provided for in the
Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had
the maximum permitted amount withheld during the Offering through payroll deductions. 
 (i) “Corporate
Transaction” means the consummation, in a single transaction or in a series of related transactions, of any one or more of the following events: 

(i) a sale or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated
assets of the Company and its Subsidiaries; 
 (ii) a sale or other disposition of at least ninety percent (90%) of the
outstanding securities of the Company; 
 (iii) a merger, consolidation or similar transaction following which the Company is not the
surviving corporation; or 
 (iv) a merger, consolidation or similar transaction following which the Company is the surviving
corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in
the form of securities, cash or otherwise. 
 (j) “Director” means a member of the Board. 

(k) “Effective Date” means the effective date of this Plan document, which is the date of the annual meeting of
stockholders of the Company held in 2015, provided that this Plan is approved by the Company’s stockholders at such meeting. 
 (l)
“Eligible Employee” means an Employee who meets the requirements set forth in the document(s) governing the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements
for eligibility to participate set forth in the Plan. 
 (m) “Employee” means any person, including an
Officer or Director, who is “employed” for purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation. However, service solely as a Director, or payment of a fee for such services, will not cause a Director to
be considered an “Employee” for purposes of the Plan. 
 (n) “Employee Stock Purchase Plan” means a
plan that grants Purchase Rights intended to be options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 

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

  
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 (p) “Fair Market Value” means, as of any date, the value of the
Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded on any
established market, the Fair Market Value of a share of Common Stock will be, unless otherwise determined by the Board, the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume
of trading in the Common Stock) on the date of determination, as reported in a source the Board deems reliable. 
 (ii) Unless
otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value will be the closing sales price on the last preceding date for which such quotation exists. 

(iii) In the absence of such markets for the Common Stock, the Fair Market Value will be determined by the Board in good faith in
compliance with applicable laws and in a manner that complies with Section 409A of the Code. 
 (q)
“Offering” means the grant to Eligible Employees of Purchase Rights, with the exercise of those Purchase Rights automatically occurring at the end of one or more Purchase Periods. The terms and conditions of an Offering
will generally be set forth in the “Offering Document” approved by the Board for that Offering. 
 (r)
“Offering Date” means a date selected by the Board for an Offering to commence. 
 (s)
“Officer” means a person who is an officer of the Company or a Related Corporation within the meaning of Section 16 of the Exchange Act. 

(t) “Participant” means an Eligible Employee who holds an outstanding Purchase Right. 

(u) “Plan” means this XenoPort, Inc. 2015 Employee Stock Purchase Plan. 

(v) “Purchase Date” means one or more dates during an Offering selected by the Board on which Purchase Rights
will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering. 
 (w)
“Purchase Period” means a period of time specified within an Offering, generally beginning on the Offering Date or on the first Trading Day following a Purchase Date and ending on a Purchase Date. An Offering may consist
of one or more Purchase Periods. 
 (x) “Purchase Right” means an option to purchase shares of Common Stock
granted pursuant to the Plan. 
 (y) “Related Corporation” means any “parent corporation” or
“subsidiary corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

  
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 (z) “Securities Act” means the Securities Act of 1933, as amended.

 (aa) “Subsidiary” means, with respect to the Company, (i) any corporation of which more than fifty
percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will
have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct
or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%). For purposes of the foregoing clause (i), the Company will be deemed to “Own” or have
“Owned” such securities if the Company, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect
to such securities. 
 (bb) “Trading Day” means any day on which the exchange(s) or market(s) on which shares
of Common Stock are listed (including, but not limited to, the NYSE, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto) is open for trading. 

 

	3.	ADMINISTRATION. 

 (a) The Board will administer the Plan. The Board
may delegate administration of the Plan to a Committee or Committees, as provided in Section 3(c). 
 (b) The Board will have
the power, subject to, and within the limitations of, the express provisions of the Plan: 
 (i) To determine when and how Purchase
Rights will be granted and the provisions of each Offering (which need not be identical). 
 (ii) To designate from time to time
which Related Corporations will be eligible to participate in the Plan. 
 (iii) To construe and interpret the Plan and Purchase
Rights, and to establish, amend and revoke rules and regulations for the administration of the Plan. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it deems
necessary or expedient to make the Plan fully effective. 
 (iv) To settle all controversies regarding the Plan and Purchase Rights.

 (v) To amend the Plan at any time as provided in Section 13. 

(vi) To suspend or terminate the Plan at any time as provided in Section 13. 

(vii) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of
the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan. 

  
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 (viii) To adopt such procedures and sub-plans as are necessary or appropriate to permit
participation in the Plan by Employees who are foreign nationals or employed outside the United States. 
 (c) The Board may delegate
some or all of the administration of the Plan to a Committee or Committees. If administration is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that
have been delegated to the Committee, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references to the Board in this Plan and in any applicable Offering Document will
thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer
the Plan with the Committee and may, at any time, revest in the Board some or all of the powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board will have the final power to determine
all questions of policy and expediency that may arise in the administration of the Plan. 
 (d) All determinations, interpretations
and constructions made by the Board in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons. 
  

	4.	SHARES OF COMMON STOCK SUBJECT TO THE PLAN. 

(a) Subject to Section 12(a) relating to Capitalization Adjustments, the aggregate number of shares of Common Stock that may be
issued under the Plan will not exceed four million (4,000,000) shares. 
 (b) If any Purchase Right terminates without having
been exercised in full, the shares of Common Stock not purchased under such Purchase Right will again become available for issuance under the Plan. 

(c) The stock issuable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Company on the open market. 
  

	5.	GRANT OF PURCHASE RIGHTS; OFFERING. 

(a) The Board may from time to time grant or provide for the grant of Purchase Rights to Eligible Employees under an Offering
(consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain such terms and conditions as the Board will deem appropriate and will comply with the
requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms and conditions of an Offering will be incorporated by reference into the Plan and treated as part of the
Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference in the document comprising the Offering or otherwise) the period during which the
Offering will be effective, which period will not exceed twenty-seven (27) months beginning with the Offering Date, and the substance of the provisions contained in Sections 6 through 9, inclusive. 

  
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 (b) If a Participant has more than one Purchase Right outstanding under the Plan, unless
he or she otherwise indicates in forms delivered to the Company: (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase Right, if
different Purchase Rights have identical exercise prices) will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise
prices) will be exercised. 
 (c) The Board will have the discretion to structure an Offering so that if the Fair Market Value of a
share of Common Stock on the first Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock on the Offering Date for that Offering, then (i) that Offering will terminate
immediately as of that first Trading Day, and (ii) the Participants in such terminated Offering will be automatically enrolled in a new Offering beginning on the first Trading Day of such new Purchase Period. 

 

	6.	ELIGIBILITY. 

 (a) Purchase Rights may be granted only to Employees
of the Company or, as the Board may designate in accordance with Section 3(b), to Employees of a Related Corporation. Except as provided in Section 6(b), an Employee will not be eligible to be granted Purchase Rights unless, on the
Offering Date, the Employee has been in the employ of the Company or the Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event will the required period of
continuous employment be equal to or greater than two (2) years. In addition, the Board may provide that no Employee will be eligible to be granted Purchase Rights unless, on the Offering Date, such Employee’s customary employment with the
Company or the Related Corporation is more than twenty (20) hours per week and more than five (5) months per calendar year or such other criteria as the Board may determine consistent with Section 423 of the Code. 

(b) The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or
dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of
that Offering. Such Purchase Right will have the same characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 

(i) the date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes,
including determination of the exercise price of such Purchase Right; 
 (ii) the period of the Offering with respect to such
Purchase Right will begin on its Offering Date and end coincident with the end of such Offering; and 
 (iii) the Board may provide
that if such person first becomes an Eligible Employee within a specified period of time before the end of the Offering, he or she will not receive any Purchase Right under that Offering. 

  
 6 

 (c) No Employee will be eligible for the grant of any Purchase Rights if, immediately
after any such Purchase Rights are granted, such Employee owns stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this
Section 6(c), the rules of Section 424(d) of the Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options will be treated as stock
owned by such Employee. 
 (d) As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase
Rights only if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or
any Related Corporation to accrue at a rate which exceeds twenty-five thousand dollars ($25,000) of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, will be determined as of their
respective Offering Dates) for each calendar year in which such rights are outstanding at any time. 
 (e) Officers of the Company
and any designated Related Corporation, if they are otherwise Eligible Employees, will be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly
compensated Employees within the meaning of Section 423(b)(4)(D) of the Code will not be eligible to participate. 
  

	7.	PURCHASE RIGHTS; PURCHASE PRICE. 

(a) On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be granted a Purchase Right to
purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding fifteen percent (15%) of such Employee’s earnings (as
defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date will be no later than the end of
the Offering. 
 (b) The Board will establish one (1) or more Purchase Dates during an Offering on which Purchase Rights granted
pursuant to that Offering will be exercised and shares of Common Stock will be purchased in accordance with such Offering. 
 (c) In
connection with each Offering made under the Plan, the Board may specify (i) a maximum number of shares of Common Stock that may be purchased by any Participant pursuant to such Offering, (ii) a maximum number of shares of Common Stock
that may be purchased by any Participant on any Purchase Date pursuant to such Offering, (iii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants pursuant to such Offering, and/or (iv) a maximum
aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date pursuant to such Offering. If the aggregate purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under such
Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata (based on each Participant’s accumulated Contributions) allocation of the shares of Common Stock available will be made in
as nearly a uniform manner as will be practicable and equitable. 

  
 7 

 (d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights will
be not less than the lesser of: 
 (i) an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of
Common Stock on the Offering Date; or 
 (ii) an amount equal to eighty-five percent (85%) of the Fair Market Value of the
shares of Common Stock on the applicable Purchase Date. 
  

	8.	PARTICIPATION; WITHDRAWAL; TERMINATION. 

(a) An Eligible Employee may elect to authorize payroll deductions as the means of making Contributions by completing and delivering to
the Company, within the time specified in the Offering, an enrollment form provided by the Company. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant’s
Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a third party. To the
extent provided in the Offering, a Participant may begin such Contributions on or after the Offering Date. To the extent provided in the Offering, a Participant may thereafter decrease (including to zero) or increase his or her Contributions. To the
extent specifically provided in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through payment by cash or check prior to a Purchase Date. 

(b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a
withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant’s Purchase Right in that Offering will immediately terminate and the Company will
distribute to such Participant all of his or her accumulated but unused Contributions without interest. A Participant’s withdrawal from an Offering will have no effect upon his or her eligibility to participate in any other Offerings under the
Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. 
 (c) Purchase
Rights granted pursuant to any Offering under the Plan will terminate immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or
(ii) is otherwise no longer eligible to participate. The Company will distribute to such individual all of his or her accumulated but unused Contributions without interest. 

(d) Purchase Rights will not be transferable by a Participant except by will, by the laws of descent and distribution, or, if permitted
by the Company, by a beneficiary designation as described in Section 11. During a Participant’s lifetime, Purchase Rights will be exercisable only by such Participant. 

  
 8 

 (e) Unless otherwise specified in an Offering, the Company will have no obligation to pay
interest on Contributions. 
  

	9.	EXERCISE OF PURCHASE RIGHTS. 

(a) On each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase of shares of Common Stock,
up to the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares will be issued upon the exercise of Purchase Rights unless specifically
provided for in the Offering. 
 (b) If any amount of accumulated Contributions remains in a Participant’s account after the
purchase of shares of Common Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such remaining amount will be held in such Participant’s account
for the purchase of shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from or is not eligible to participate in such next Offering, in which case such amount will be distributed to such Participant
after the final Purchase Date without interest. If the amount of Contributions remaining in a Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one (1) whole share of
Common Stock on the final Purchase Date of an Offering, then such remaining amount will be distributed in full to such Participant after the final Purchase Date of such Offering without interest. 

(c) No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan
are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable federal, state, foreign and other securities and other laws applicable to the Plan. If, on a Purchase Date,
the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised on such Purchase Date, and the Purchase Date will be delayed until the shares of Common Stock are subject to such an
effective registration statement and the Plan is in such compliance, except that the Purchase Date will not be delayed more than twelve (12) months and the Purchase Date will in no event be more than twenty-seven (27) months from the
Offering Date. If, on the Purchase Date, as delayed to the maximum extent permissible, the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised and all accumulated but unused
Contributions will be distributed to the Participants without interest. 
  

	10.	COVENANTS OF THE COMPANY. 

The Company will seek to obtain from each federal, state, foreign or other regulatory commission or agency having jurisdiction over the Plan
such authority as may be required to grant Purchase Rights and issue and sell shares of Common Stock thereunder. If, after commercially reasonable efforts, the Company is unable to obtain the authority that counsel for the Company deems necessary
for the grant of Purchase Rights or the lawful issuance and sale of Common Stock under the Plan, and at a commercially reasonable cost, the Company will be relieved from any liability for failure to grant Purchase Rights and/or to issue and sell
Common Stock upon exercise of such Purchase Rights. 

  
 9 

	11.	DESIGNATION OF BENEFICIARY. 

 (a) The
Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any shares of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before
such shares and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the Participant to change such designation of beneficiary. Any such designation and/or change must be on a form approved by the
Company. 
 (b) If a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of
Common Stock and/or Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such shares
of Common Stock and/or Contributions to the Participant’s spouse, dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

 

	12.	ADJUSTMENTS UPON CHANGES IN COMMON STOCK; CORPORATE TRANSACTIONS. 

(a) In the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and
maximum number of securities subject to the Plan pursuant to Section 4(a); (ii) the class(es) and number of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights; and (iii) the class(es)
and number of securities that are the subject of the purchase limits under each ongoing Offering. The Board will make these adjustments, and its determination will be final, binding and conclusive. 

(b) In the event of a Corporate Transaction, (i) any surviving or acquiring corporation (or its parent company) may assume or
continue outstanding Purchase Rights or may substitute similar rights (including a right to acquire the same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights, or (ii) if any surviving or
acquiring corporation (or its parent company) does not assume or continue outstanding Purchase Rights or does not substitute similar rights for outstanding Purchase Rights, then the Participants’ accumulated Contributions will be used to
purchase shares of Common Stock within ten (10) business days prior to the Corporate Transaction under such Purchase Rights, and such Purchase Rights will terminate immediately after such purchase. 

 

	13.	AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN. 

(a) The Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in
Section 12(a) relating to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required by applicable law or listing requirements, including any amendment that either
(i) materially increases the number of shares of Common Stock available for issuance under the Plan, (ii) materially expands the class of individuals eligible to become Participants and receive Purchase Rights, (iii) materially
increases the benefits accruing to 

  
 10 

 
Participants under the Plan or materially reduces the price at which shares of Common Stock may be purchased under the Plan, (iv) materially extends the term of the Plan, or (v) expands
the types of awards available for issuance under the Plan, but in each of (i) through (v) above only to the extent stockholder approval is required by applicable law or listing requirements. 

(b) The Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is
suspended or after it is terminated. 
 (c) Any benefits, privileges, entitlements and obligations under any outstanding Purchase
Rights granted before an amendment, suspension or termination of the Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were granted,
(ii) as necessary to comply with any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance issued thereunder
relating to Employee Stock Purchase Plans) including, without limitation, any such regulations or other guidance that may be issued or amended after the Adoption Date, or (iii) as necessary to obtain or maintain favorable tax, listing, or
regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies with the requirements of
Section 423 of the Code. 
 Notwithstanding the foregoing, if the Company’s accountants advise the Company that the accounting
treatment of purchases under the Plan will change or has changed in a manner that the Company determines is detrimental to its best interests, then the Company may, in its discretion, take any or all of the following actions: (i) terminate each
Offering that is then ongoing as of the next Purchase Date (after the purchase of Common Stock on such Purchase Date) under such Offering; (ii) set a new Purchase Date for each ongoing Offering and terminate such Offering after the purchase of
Common Stock on such Purchase Date; (iii) amend the Plan and each ongoing Offering so that such Offering will no longer have an accounting treatment that is detrimental to the Company’s best interests; and (iv) terminate each ongoing
Offering and refund any accumulated but unused Contributions without interest to the Participants. 
 Notwithstanding anything in the Plan
or any Offering Document to the contrary, the Board will be entitled to: (i) establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars; (ii) permit Contributions in excess of the amount designated by
a Participant in order to adjust for mistakes in the Company’s processing of properly completed Contribution elections; (iii) establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that
amounts applied toward the purchase of Common Stock for each Participant properly correspond with amounts withheld from the Participant’s Contributions; (iv) amend any outstanding Purchase Rights or clarify any ambiguities regarding the
terms of any Offering to enable the Purchase Rights to qualify under and/or comply with Section 423 of the Code; and (v) establish other limitations or procedures as the Board determines in its sole discretion advisable that are consistent
with the Plan. The actions of the Board pursuant to this paragraph will not be considered to alter or impair any Purchase Rights granted under an Offering as they are part of the initial terms of each Offering and the Purchase Rights granted under
each Offering. 

  
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	14.	EFFECTIVE DATE OF PLAN. 

This Plan will become effective on the Effective Date. No Purchase Rights will be exercised unless and until the Plan has been approved by the
stockholders of the Company, which approval must be within 12 months before or after the date the Plan is adopted (or if required under Section 13(a), materially amended) by the Board. 

 

	15.	MISCELLANEOUS PROVISIONS. 

 (a) Proceeds from the
sale of shares of Common Stock pursuant to Purchase Rights will constitute general funds of the Company. 
 (b) A Participant will
not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights
are recorded in the books of the Company (or its transfer agent). 
 (c) The Plan and Offering do not constitute an employment
contract. Nothing in the Plan or in the Offering will in any way alter the at will nature of a Participant’s employment or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the
Company or a Related Corporation, or on the part of the Company or a Related Corporation to continue the employment of a Participant. 

(d) The provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts of
laws rules. 

  
 12

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