Document:

EX-10.15

 Exhibit 10.15 

ULTHERA, INC. 
 2014
EMPLOYEE STOCK PURCHASE PLAN 
 ARTICLE I. 

PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN 

1.1 Purpose and Scope. The purpose of the Ulthera, Inc. 2014 Employee Stock Purchase Plan, as it may be amended from
time to time, (the “Plan”) is to assist employees of Ulthera, Inc., a Delaware corporation, (the “Company”) and its Designated Subsidiaries in acquiring a stock ownership interest in the Company pursuant to a plan
which is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and to help such employees provide for their future security and to encourage them to remain in the employment of the Company and its
Subsidiaries. 
 ARTICLE II. 

DEFINITIONS 

Whenever the following terms are used in the Plan, they shall have the meaning specified below unless the context clearly
indicates to the contrary. The singular pronoun shall include the plural where the context so indicates. 
 2.1
“Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. 

2.2 “Administrator” shall mean the Committee, or such individuals to which authority to administer the Plan
has been delegated under Section 7.1 hereof. 
 2.3 “Board” shall mean the Board of Directors of the
Company. 
 2.4 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

2.5 “Committee” shall mean the Compensation Committee of the Board. 

2.6 “Common Stock” shall mean the common stock of the Company. 

2.7 “Company” shall have such meaning as set forth in Section 1.1 hereof. 

2.8 “Compensation” of an Employee shall mean the regular straight-time earnings or base salary, bonuses and
commissions paid to the Employee from the Company on each Payday as compensation for services to the Company or any Designated Subsidiary, before deduction for any salary deferral contributions made by the Employee to any tax-qualified or
nonqualified deferred compensation plan, including overtime, shift differentials, vacation pay, salaried production schedule premiums, holiday pay, jury duty pay, funeral leave pay, paid time off, military pay, prior week adjustments and weekly
bonus, but excluding education or tuition reimbursements, imputed income arising under any group insurance or benefit program, travel 

 
expenses, business and moving reimbursements, income received in connection with any stock options, restricted stock, restricted stock units or other compensatory equity awards and all
contributions made by the Company or any Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter established. Such Compensation shall be calculated before deduction of any income or employment tax
withholdings, but shall be withheld from the Employee’s net income. 
 2.9 “Designated
Subsidiary” shall mean each Subsidiary that have been designated by the Board or Committee from time to time in its sole discretion as eligible to participate in the Plan, including any Subsidiary in existence on the Effective Date
and any Subsidiary formed or acquired following the Effective Date, in accordance with Section 7.2 hereof. 
 2.10
“Effective Date” shall mean immediately prior to the time at which the Company’s registration statement relating to its initial public offering becomes effective, provided that the Board has adopted the Plan prior to or
on such date, subject to approval of the Plan by the Company’s stockholders. 
 2.11 “Eligible
Employee” shall mean an Employee who (a) is customarily scheduled to work at least twenty (20) hours per week, (b) whose customary employment is more than five (5) months in a calendar year and (c) after the
granting of the Option would not be deemed for purposes of Section 423(b)(3) of the Code to possess five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any Subsidiary. For
purposes of clause (c), the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock which an Employee may purchase under outstanding
options shall be treated as stock owned by the Employee. Notwithstanding the foregoing, the Administrator may exclude from participation in the Plan as an Eligible Employee (x) any Employee that is a “highly compensated employee” of
the Company or any Designated Subsidiary (within the meaning of Section 414(q) of the Code), or that is such a “highly compensated employee” (A) with compensation above a specified level, (B) who is an officer and/or
(C) is subject to the disclosure requirements of Section 16(a) of the Exchange Act and/or (y) any Employee who is a citizen or resident of a foreign jurisdiction (without regard to whether they are also a citizen of the United States
or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (i) the grant of the Option is prohibited under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of the
foreign jurisdiction would cause the Plan or the Option to violate the requirements of Section 423 of the Code; provided that any exclusion in clauses (x), and/or (y) shall be applied in an identical manner under each Offering
Period to all Employees of the Company and all Designated Subsidiaries, in accordance with Treasury Regulation Section 1.423-2(e). 

2.12 “Employee” shall mean any person who renders services to the Company or a Designated Subsidiary in the
status of an employee within the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or a Designated Subsidiary who does not render services to the Company or a Designated Subsidiary in the
status of an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on military

  
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leave, sick leave or other leave of absence approved by the Company or Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of
leave exceeds three (3) months, or such other period specified in Treasury Regulation Section 1.421-1(h)(2), and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship
shall be deemed to have terminated on the first day immediately following such three (3)-month period, or such other period specified in Treasury Regulation Section 1.421-1(h)(2). 

2.13 “Enrollment Date” shall mean the first date of each Offering Period. 

2.14 “Exercise Date” shall mean the last Trading Day of each Offering Period, except as provided in
Section 5.2 hereof. 
 2.15 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 2.16 “Fair Market Value” shall mean, as of any date, the value of Common Stock determined as follows:

 (a) If the Common Stock is (i) listed on any established securities exchange (such as the New York Stock Exchange,
the NASDAQ Global Market and the NASDAQ Global Select Market), (ii) listed on any national market system or (iii) listed, quoted or traded on any automated quotation system, its Fair Market Value shall be the closing sales price for a
share of Common Stock as quoted on such exchange or system for such date or, if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Stock on the last preceding date for which
such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(b) If the Common Stock is not listed on an established securities exchange, national market system or automated quotation
system, but the Common Stock is regularly quoted by a recognized securities dealer, its Fair Market Value shall be the mean of the high bid and low asked prices for such date or, if there are no high bid and low asked prices for a share of Common
Stock on such date, the high bid and low asked prices for a share of Common Stock on the last preceding date for which such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;
or 
 (c) If the Common Stock is neither listed on an established securities exchange, national market system or automated
quotation system nor regularly quoted by a recognized securities dealer, its Fair Market Value shall be established by the Administrator in good faith. 

2.17 “Grant Date” shall mean the first Trading Day of an Offering Period. 

2.18 “New Exercise Date” shall have such meaning as set forth in Section 5.2(b) hereof. 

2.19 “Offering Period” shall mean the six (6)-month period commencing on each January 15 and
July 15 following the Effective Date, except as otherwise provided under Section 5.3 hereof; provided, however, that the first Offering Period commencing on or after the 

  
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Effective Date shall commence on January 15, 2015 and end on July 14, 2015, as previously determined by the Administrator. The duration and timing of Offering Periods may be changed by
the Board or Committee, in its sole discretion. In no event may an Offering Period exceed twenty-seven (27) months. 

2.20 “Option” shall mean the right to purchase shares of Common Stock pursuant to the Plan during each
Offering Period. 
 2.21 “Option Price” shall mean the purchase price of a share of Common Stock hereunder
as provided in Section 4.2 hereof. 
 2.22 “Parent” means any entity that is a parent corporation of
the Company within the meaning of Section 424 of the Code and the Treasury Regulations thereunder. 
 2.23
“Participant” shall mean any Eligible Employee who elects to participate in the Plan. 
 2.24
“Payday” shall mean the regular and recurring established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary. 

2.25 “Plan” shall have such meaning as set forth in Section 1.1 hereof. 

2.26 “Plan Account” shall mean a bookkeeping account established and maintained by the Company in the name of
each Participant. 
 2.27 “Section 423 Option” shall have such meaning as set forth in Section 3.1(b)
hereof. 
 2.28 “Subsidiary” shall mean any entity that is a subsidiary corporation of the Company within
the meaning of Section 424 of the Code and the Treasury Regulations thereunder. In addition, with respect to any sub-plans adopted under Section 7.1(d) hereof which are designed to be outside the scope of Section 423 of the Code,
Subsidiary shall include any corporate or noncorporate entity in which the Company has a direct or indirect equity interest or significant business relationship. 

2.29 “Trading Day” shall mean a day on which the principal securities exchange on which the Common Stock is
listed is open for trading or, if the Common Stock is not listed on a securities exchange, shall mean a business day, as determined by the Administrator in good faith. 

2.30 “Withdrawal Election” shall have such meaning as set forth in Section 6.1(a) hereof. 

  
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 ARTICLE III. 

PARTICIPATION 
 3.1
Eligibility. 
 (a) Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given
Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles IV and V hereof, and the limitations imposed by Section 423(b) of the Code and the Treasury
Regulations thereunder. 
 (b) No Eligible Employee shall be granted an Option under the Plan which permits the
Participant’s rights to purchase shares of Common Stock under the Plan, and to purchase stock under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to the Section 423 of the Code (any such
Option or other option, a “Section 423 Option”), to accrue at a rate which exceeds $25,000 of fair market value of such stock (determined at the time the Section 423 Option is granted) for each calendar year in which any
Section 423 Option granted to the Participant is outstanding at any time. For purposes of the limitation imposed by this subsection, 

(i) the right to purchase stock under a Section 423 Option accrues when the Section 423 Option (or any portion
thereof) first becomes exercisable during the calendar year, 
 (ii) the right to purchase stock under a Section 423
Option accrues at the rate provided in the Section 423 Option, but in no case may such rate exceed $25,000 of fair market value of such stock (determined at the time such option is granted) for any one calendar year, and 

(iii) a right to purchase stock which has accrued under a Section 423 Option may not be carried over to any other
Section 423 Option; provided that Participants may carry forward amounts so accrued that represent a fractional share of stock and were withheld but not applied towards the purchase of Common Stock under an earlier Offering Period, and may
apply such amounts towards the purchase of additional shares of Common Stock under a subsequent Offering Period. 
 The limitation under this
Section 3.1(b) shall be applied in accordance with Section 423(b)(8) of the Code and the Treasury Regulations thereunder. 

3.2 Election to Participate; Payroll Deductions 

(a) Except as provided in Section 3.3 hereof, an Eligible Employee may become a Participant in the Plan only by means of
payroll deduction. Each individual who is an Eligible Employee as of an Offering Period’s Enrollment Date may elect to participate in such Offering Period and the Plan by delivering to the Company a payroll deduction authorization no later such
period of time prior to the applicable Enrollment Date as determined by the Administrator, in its sole discretion. 

  
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 (b) Subject to Section 3.1(b) hereof, payroll deductions (i) shall be
equal to at least one percent (1%) of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment Date, but not more than the lesser of fifteen percent (15%) of the Participant’s Compensation
as of each Payday of the Offering Period following the Enrollment Date or $25,000 per Offering Period; and (ii) may be expressed either as (A) a whole number percentage, or (B) a fixed dollar amount. Amounts deducted from a
Participant’s Compensation with respect to an Offering Period pursuant to this Section 3.2 shall be deducted each Payday through payroll deduction and credited to the Participant’s Plan Account. 

(c) Following at least one (1) payroll deduction, a Participant may decrease (to as low as zero) the amount deducted
from such Participant’s Compensation only once during an Offering Period upon ten (10) calendar days’ prior written notice to the Company. A Participant may not increase the amount deducted from such Participant’s Compensation
during an Offering Period. 
 (d) Notwithstanding the foregoing, upon the termination of an Offering Period, each
Participant in such Offering Period shall automatically participate in the immediately following Offering Period at the same payroll deduction percentage as in effect at the termination of the prior Offering Period, unless such Participant delivers
to the Company a different election with respect to the successive Offering Period in accordance with Section 3.1(a) hereof, or unless such Participant becomes ineligible for participation in the Plan. 

3.3 Leave of Absence. During leaves of absence approved by the Company meeting the requirements of Treasury Regulation
Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her normal payday equal to his or her authorized payroll deduction. 

ARTICLE IV. 
 PURCHASE OF
SHARES 
 4.1 Grant of Option. Each Participant shall be granted an Option with respect to an Offering Period on the applicable
Grant Date. Subject to the limitations of Section 3.1(b) hereof, the number of shares of Common Stock subject to a Participant’s Option shall be determined by dividing (a) such Participant’s payroll deductions accumulated prior
to such Exercise Date and retained in the Participant’s Plan Account on such Exercise Date by (b) the applicable Option Price; provided that in no event shall a Participant be permitted to purchase during each Offering Period more
than 3,000 shares of Common Stock (subject to any adjustment pursuant to Section 5.2 hereof). The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock
that a Participant may purchase during such future Offering Periods. Each Option shall expire on the Exercise Date for the applicable Offering Period immediately after the automatic exercise of the Option in accordance with Section 4.3 hereof,
unless such Option terminates earlier in accordance with Article 6 hereof. 
 4.2 Option Price. The Option Price per
share of Common Stock to be paid by a Participant upon exercise of the Participant’s Option on the applicable Exercise Date for an Offering Period shall be equal to eighty five percent (85%) of the lesser of the Fair Market Value

  
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 of a share of Common Stock on (a) the applicable Grant Date and (b) the applicable
Exercise Date; provided that in no event shall the Option Price per share of Common Stock be less than the par value per share of the Common Stock. 

4.3 Purchase of Shares. 

(a) On the applicable Exercise Date for an Offering Period, each Participant shall automatically and without any action on
such Participant’s part be deemed to have exercised his or her Option to purchase at the applicable Option Price the largest number of whole shares of Common Stock which can be purchased with the amount in the Participant’s Plan Account.
Any balance less than eighty five percent (85%) of the lesser of the Fair Market Value of a share of Common Stock on (i) the applicable Grant Date and (ii) the applicable Exercise Date remaining in the Participant’s Plan Account
(after exercise of such Participant’s Option) as of such Exercise Date shall be carried forward to the next Offering Period, unless the Participant has elected to withdraw from the Plan pursuant to Section 6.1 hereof or, pursuant to
Section 6.2 hereof, such Participant has ceased to be an Eligible Employee. Any balance not carried forward to the next Offering Period in accordance with the prior sentence promptly shall be refunded to the applicable Participant. 

(b) As soon as practicable following the applicable Exercise Date, the number of shares of Common Stock purchased by such
Participant pursuant to Section 4.3(a) hereof shall be delivered (either in share certificate or book entry form), in the Company’s sole discretion, to either (i) the Participant or (ii) an account established in the
Participant’s name at a stock brokerage or other financial services firm designated by the Company. If the Company is required to obtain from any commission or agency authority to issue any such shares of Common Stock, the Company shall seek to
obtain such authority. Inability of the Company to obtain from any such commission or agency authority which counsel for the Company deems necessary for the lawful issuance of any such shares shall relieve the Company from liability to any
Participant except to refund to the Participant such Participant’s Plan Account balance, without interest thereon. 

4.4 Transferability of Rights. 

(a) An Option granted under the Plan shall not be transferable, other than by will or the applicable laws of descent and
distribution, and is exercisable during the Participant’s lifetime only by the Participant. No option or interest or right to the Option shall be available to pay off any debts, contracts or engagements of the Participant or his or her
successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal
or equitable proceedings (including bankruptcy), and any attempt at disposition of the option shall have no effect. 
 ARTICLE V. 

PROVISIONS RELATING TO COMMON STOCK 

5.1 Common Stock Reserved. Subject to adjustment as provided in Section 5.2 hereof, the maximum number of shares
of Common Stock that shall be made available for 

  
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sale under the Plan shall be the sum of (a)                  shares of Common Stock and (b) an annual
increase on the first day of each year beginning in 2015 and ending in 2024, in each case subject to the approval of the Administrator on or prior to the applicable date, equal to the lesser of (i) one percent (1%) of the shares of Common
Stock outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (ii) such number of shares of Common Stock as determined by the Board; provided, however, no more than
                 shares of Common Stock may be issued under the Plan. Shares of Common Stock made available for sale under the Plan may be authorized but unissued
shares, treasury shares of Common Stock, or reacquired shares reserved for issuance under the Plan. 
 5.2 Adjustments
Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 
 (a) Changes in
Capitalization. Subject to any required action by the stockholders of the Company, the number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under Option, as well as the price per share and
the number of shares of Common Stock covered by each Option under the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split,
reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; provided,
however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that
respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason
thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Offering Period then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall
terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation.
The Administrator shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the
Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof. 

(c) Merger or Asset Sale. In the event of a proposed sale of all or substantially all of the assets of the Company, or
the merger of the Company with or into another corporation, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on the New Exercise Date. The New
Exercise Date shall be before the date 

  
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of the Company’s proposed sale or merger. The Administrator shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise
Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the
Offering Period as provided in Section 6.1 hereof. 
 5.3 Insufficient Shares. If the Administrator determines
that, on a given Exercise Date, the number of shares of Common Stock with respect to which Options are to be exercised may exceed the number of shares of Common Stock remaining available for sale under the Plan on such Exercise Date, the
Administrator shall make a pro rata allocation of the shares of Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all
Participants exercising Options to purchase Common Stock on such Exercise Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods shall take place and the Plan shall terminate pursuant to
Section 7.5 hereof. If an Offering Period is so terminated, then the balance of the amount credited to the Participant’s Plan Account which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in
one lump sum in cash within thirty (30) days after such Exercise Date, without any interest thereon. 
 5.4 Rights
as Stockholders. With respect to shares of Common Stock subject to an Option, a Participant shall not be deemed to be a stockholder of the Company and shall not have any of the rights or privileges of a stockholder. A Participant shall have the
rights and privileges of a stockholder of the Company when, but not until, shares of Common Stock have been deposited in the designated brokerage account following exercise of his or her Option. 

ARTICLE VI. 
 TERMINATION
OF PARTICIPATION 
 6.1 Cessation of Contributions; Voluntary Withdrawal. 

(a) A Participant may cease payroll deductions during an Offering Period and elect to withdraw from the Plan by delivering
written notice of such election to the Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator (a “Withdrawal Election”). A Participant electing to
withdraw from the Plan may elect to either (i) withdraw all of the funds then credited to the Participant’s Plan Account as of the date on which the Withdrawal Election is received by the Company, in which case amounts credited to such
Plan Account shall be returned to the Participant in one (1) lump-sum payment in cash within thirty (30) days after such election is received by the Company, without any interest thereon, and the Participant shall cease to participate in
the Plan and the Participant’s Option for such Offering Period shall terminate; or (ii) exercise the Option for the maximum number of whole shares of Common Stock on the applicable Exercise Date with any remaining Plan Account balance
returned to the Participant in one (1) lump-sum payment in cash within thirty (30) days after such Exercise Date, without any interest thereon, and after such exercise cease to participate in the Plan. Upon receipt of a Withdrawal
Election, the Participant’s payroll deduction authorization and his or her Option to purchase under the Plan shall terminate. 

  
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 (b) A participant’s withdrawal from the Plan shall not have any effect upon
his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant withdraws. 

(c) A Participant who ceases contributions to the Plan during any Offering Period shall not be permitted to resume
contributions to the Plan during that Offering Period. 
 6.2 Termination of Eligibility. Upon a Participant’s
ceasing to be an Eligible Employee, for any reason, such Participant’s Option for the applicable Offering Period shall automatically terminate, he or she shall be deemed to have elected to withdraw from the Plan, and such Participant’s
Plan Account shall be paid to such Participant or, in the case of his or her death, to the person or persons entitled thereto pursuant to applicable law, within thirty (30) days after such cessation of being an Eligible Employee, without any
interest thereon. 
 ARTICLE VII. 

GENERAL PROVISIONS 

7.1 Administration. 

(a) The Plan shall be administered by the Committee, which shall be composed of members of the Board. The Committee may
delegate administrative tasks under the Plan to the services of an Agent and/or Employees to assist in the administration of the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant. 

(b) It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with the
provisions of the Plan. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i) To establish Offering Periods; 

(ii) To determine when and how Options shall be granted and the provisions and terms of each Offering Period (which need not
be identical); 
 (iii) To select Designated Subsidiaries in accordance with Section 7.2 hereof; and 

(iv) To construe and interpret the Plan, the terms of any Offering Period and the terms of the Options and to adopt such rules
for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in
the Plan, any Offering Period or any Option, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effect, subject to Section 423 of the Code and the Treasury Regulations thereunder. 

  
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 (c) The Administrator may adopt rules or procedures relating to the operation
and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling of
participation elections, payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock certificates which vary with local requirements. In its absolute discretion, the Board may at
any time and from time to time exercise any and all rights and duties of the Administrator under the Plan. 
 (d) The
Administrator may adopt sub-plans applicable to particular Designated Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such sub-plans may take precedence over other
provisions of this Plan, with the exception of Section 5.1 hereof, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. 

(e) All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be
borne by the Company. The Administrator may, with the approval of the Committee, employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to
rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other
interested persons. No member of the Board or Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the options, and all members of the Board or Administrator shall be
fully protected by the Company in respect to any such action, determination, or interpretation. 
 7.2 Designation of
Subsidiary Corporations. The Board or Committee shall designate from among the Subsidiaries, as determined from time to time, the Subsidiary or Subsidiaries that shall constitute Designated Subsidiaries. The Board or Committee may designate a
Subsidiary, or terminate the designation of a Subsidiary, without the approval of the stockholders of the Company. 
 7.3
Reports. Individual accounts shall be maintained for each Participant in the Plan. Statements of Plan Accounts shall be given to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option
Price, the number of shares purchased and the remaining cash balance, if any. 
 7.4 No Right to Employment. Nothing
in the Plan shall be construed to give any person (including any Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to terminate the employment
of any person (including any Participant) at any time, with or without cause, which right is expressly reserved. 
 7.5
Amendment and Termination of the Plan. 

  
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 (a) The Board may, in its sole discretion, amend, suspend or terminate the Plan
at any time and from time to time; provided, however, that without approval of the Company’s stockholders given within twelve (12) months before or after action by the Board, the Plan may not be amended to increase the
maximum number of shares of Common Stock subject to the Plan or change the designation or class of Eligible Employees; and provided, further that without approval of the Company’s stockholders, the Plan may not be amended in any
manner that would cause the Plan to no longer be an “employee stock purchase plan” within the meaning of Section 423(b) of the Code. 

(b) In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial
accounting consequences, the Administrator may, to the extent permitted under Section 423 of the Code, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence
including, but not limited to: 
 (i) altering the Option Price for any Offering Period including an
Offering Period underway at the time of the change in Option Price; 
 (ii) shortening any Offering Period
so that the Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the Administrator action; and 

(iii) allocating shares of Common Stock. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

(c) Upon termination of the Plan, the balance in each Participant’s Plan Account shall be refunded as soon as
practicable after such termination, without any interest thereon. 
 7.6 Use of Funds; No Interest Paid. All funds
received by the Company by reason of purchase of Common Stock under the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose. No interest shall be paid to any
Participant or credited under the Plan. 
 7.7 Term; Approval by Stockholders. Subject to approval by the
stockholders of the Company in accordance with this Section 7.7, the Plan shall terminate on the tenth (10th) anniversary of the date of its initial approval by the stockholders of the
Company, unless earlier terminated in accordance with Sections 5.3 or 7.5 hereof. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the
Company’s stockholders within twelve (12) months after the date of the Board’s initial adoption of the Plan. Options may be granted prior to such stockholder approval; provided, however, that such Options shall not be
exercisable prior to the time when the Plan is approved by the stockholders; provided, further that if such approval has not been obtained by the end of said twelve (12)-month period, all Options previously granted under the Plan shall
thereupon terminate and be canceled and become null and void without being exercised. 

  
 12 

 7.8 Effect Upon Other Plans. The adoption of the Plan shall not affect any
other compensation or incentive plans in effect for the Company, any Parent or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company, any Parent or any Subsidiary (a) to establish any other forms of incentives
or compensation for Employees of the Company or any Parent or any Subsidiary, or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or
assumption of options in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 

7.9 Conformity to Securities Laws. Notwithstanding any other provision of the Plan, the Plan and the participation in
the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange Act (including any amendment to
Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to the extent necessary to conform
to such applicable exemptive rule. 
 7.10 Notice of Disposition of Shares. Each Participant shall give the Company
prompt notice of any disposition or other transfer of any shares of Common Stock, acquired pursuant to the exercise of an Option, if such disposition or transfer is made (a) within two (2) years after the applicable Grant Date or
(b) within one (1) year after the transfer of such shares of Common Stock to such Participant upon exercise of such Option. The Company may direct that any certificates evidencing shares acquired pursuant to the Plan refer to such
requirement. 
 7.11 Tax Withholding. The Company or any Parent or any Subsidiary shall be entitled to require
payment in cash or deduction from other compensation payable to each Participant of any sums required by federal, state or local tax law to be withheld with respect to any purchase of shares of Common Stock under the Plan or any sale of such shares.

 7.12 Governing Law. The Plan and all rights and obligations thereunder shall be construed and enforced in
accordance with the laws of the State of Delaware. 
 7.13 Notices. All notices or other communications by a
participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

7.14 Conditions To Issuance of Shares. 

(a) Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates
or make any book entries evidencing shares of Common Stock pursuant to the exercise of an Option by a Participant, unless and until the Board or the Committee has determined, with advice of counsel, that the issuance of such shares of Common Stock
is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any securities exchange or automated quotation system on which the shares of Common Stock are listed or traded, and the shares
of Common 

  
 13 

 
Stock are covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board or the Committee may require
that a Participant make such reasonable covenants, agreements, and representations as the Board or the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 

(b) All certificates for shares of Common Stock delivered pursuant to the Plan and all shares of Common Stock issued pursuant
to book entry procedures are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign securities or other laws, rules and regulations and the rules of any
securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted, or traded. The Committee may place legends on any certificate or book entry evidencing shares of Common Stock to reference restrictions
applicable to the shares of Common Stock. 
 (c) The Committee shall have the right to require any Participant to comply
with any timing or other restrictions with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Committee. 

(d) Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee or required by any
applicable law, rule or regulation, the Company may, in lieu of delivering to any Participant certificates evidencing shares of Common Stock issued in connection with any Option, record the issuance of shares of Common Stock in the books of the
Company (or, as applicable, its transfer agent or stock plan administrator). 
 7.15 Equal Rights and Privileges.
Except with respect to sub-plans designed to be outside the scope of Section 423 of the Code, all Eligible Employees of the Company (or of any Designated Subsidiary) shall have equal rights and privileges under this Plan to the extent required
under Section 423 of the Code or the regulations promulgated thereunder so that this Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code or the Treasury Regulations thereunder. Any
provision of this Plan that is inconsistent with Section 423 of the Code or the Treasury Regulations thereunder shall, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges
requirement of Section 423 of the Code or the Treasury Regulations thereunder. 
 * * * * * * 

  
 14 

 I hereby certify that the foregoing Ulthera, Inc. Employee Stock Purchase Plan
was duly approved by the Board of Directors of Ulthera, Inc. on                 , 2014. 

I hereby certify that the foregoing Ulthera, Inc. Employee Stock Purchase Plan was duly approved by the stockholders of
Ulthera, Inc. on         , 2014. 
 Executed on this      day of
        , 2014. 
  

	
	  

	 [Name, Title]

  
 15EX-10.16

 Exhibit 10.16 

ULTHERA, INC. 

EXECUTIVE CHANGE IN CONTROL AND SEVERANCE
PLAN 
 EFFECTIVE APRIL 25, 2014 

INTRODUCTION 

This Ulthera, Inc. Executive Change in Control and Severance Plan (this “Plan”) sets forth the severance
benefits available to Executives (as defined below) of Ulthera, Inc. (the “Company”) in the event of an Executive’s termination of employment. Each Executive will participate in the Plan, and the Plan is intended to replace
each existing offer letter, employment agreement, severance agreement and change in control policy between the Company and an Executive regarding severance or Change in Control (as defined below) benefits. The goal is to create an equitable and
consistent program for the Company’s Executives that is commensurate with their level of employment, and to protect the Company’s stockholders and other stakeholders by mitigating agency conflicts that may arise in any future transaction
involving a Change in Control. 
 PLAN PROVISIONS 

1. General Eligibility. You will only be eligible to participate in this Plan (an “Executive”) if you
are a common law employee of the Company or one of its Affiliates, your official Company title is director or above and your customary employment is twenty (20) hours or more per week. Executives shall remain eligible for this Plan in the case
of sick leave, military leave or any other leave of absence approved pursuant to the regular leave policy of the Company. 

2. Severance Benefits. If you are an Executive and if, outside of a Change in Control Period (as defined below), you
experience a Covered Termination (as defined below), then subject to you delivering to the Company a general release of all claims against the Company and its Affiliates in a form acceptable to the Company (a “Release”) that becomes
effective and irrevocable within sixty (60) days following the date of your Covered Termination, then, in addition to any accrued but unpaid salary, wages, vacation and other amounts required by applicable law, you will be entitled to receive
the following benefits described in this Section 2. 
 (a) Severance Payment. You will be
entitled to receive a severance payment equal to nine (9) months of your base salary (if you are the Chief Executive Officer) or that number of months of your base salary for each full year of service with the Company completed, up to a maximum
of three (3) months, as set forth in the table below (for all other Executives), in each case payable in a cash lump sum, less applicable withholding obligations, within ten (10) days following the date your Release is no longer subject to
revocation. 
  

					
	 Number of Full Year(s) of Service
	  	Months of Base Salary	 
	 Less than 1 year
	  	 	0	  
	 1 year but less than 2 years
	  	 	1	  
	 2 years but less than 3 years
	  	 	2	  
	 3 years or more
	  	 	3	  

 (b) Continued Healthcare. Subject to the requirements of the Internal
Revenue Code of 1986, as amended (the “Code”), the Company will pay, or, at its election, reimburse you for, premiums for health insurance coverage to the same extent it paid health insurance premiums on your behalf as of
immediately prior to your termination of employment if you elect to continue health insurance pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) (this health coverage is generally referred to as
“Company-Paid Premiums”). The Company-Paid Premiums will continue for that number 

  
 1 

 
of months determined in accordance with Section 2(a) above; provided, however, that the Company-Paid Premiums will terminate earlier if you cancel the underlying coverage or
such coverage otherwise ends sooner because you become eligible for and elect health coverage with another employer. If your Company-Paid Premiums included your dependents immediately prior to your termination of employment, the Company will
continue to pay for the premiums of such dependents after your termination of employment to the same extent, and for the same duration, as are paid by the Company for you unless you elect otherwise. 

3. Change in Control Benefits. If you are an Executive and if, during the period of time commencing three
(3) months prior to a Change in Control and ending twelve (12) months following the Change in Control (the “Change in Control Period”), you experience a Covered Termination, then subject to you delivering to the Company a
Release that becomes effective and irrevocable within sixty (60) days following such termination of employment, then, in addition to any accrued but unpaid salary, wages, vacation and other amounts required by applicable law, and in lieu of any
benefits set forth in Section 2 above, you will be entitled to receive the following benefits described in this Section 3. 

(a) Severance Payment. You will be entitled to receive a severance payment equal to twelve
(12) months of your base salary (if you are the Chief Executive Officer), nine (9) months of your base salary (if you report directly to the Chief Executive Officer) or six (6) months of your base salary (for all other Executives), in
each case payable in a cash lump sum, less applicable withholding obligations, within ten (10) days following the date your Release is no longer subject to revocation. 

(b) Continued Healthcare. Subject to the requirements of the Code, your Company-Paid Premiums will
continue for that number of months determined in accordance with Section 3(a) above; provided, however, that the Company-Paid Premiums will terminate earlier if you cancel the underlying coverage or coverage otherwise ends sooner
because you become eligible for and elect health coverage with another employer. If your Company-Paid Premiums included your dependents immediately prior to your termination of employment, the Company will continue to pay the premiums for such
dependents after your termination of employment to the same extent, and for the same duration, as are paid by the Company for you unless you elect otherwise. 

(c) Equity Acceleration. Each outstanding equity award, including, without limitation, each stock
option, restricted stock unit and restricted stock award, held by you will automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall immediately lapse immediately prior to your
termination date, in each case, with respect to one hundred percent (100%) of that number of unvested shares underlying your equity awards as of your termination date. Outside of a Change in Control Period, your equity awards will be treated
pursuant to the equity plan under which they were granted, the equity award agreement and any applicable addition agreement, plan, policy or arrangement with you and the Company, including, without limitation, the Company’s Change in Control
Policy effective as of April 26, 2012, as may be amended from time to time. 
 4. Withholding. The Company and
its affiliates shall have the authority and the right to deduct or withhold, or require any Executive to remit an amount sufficient to satisfy all federal, state, local and foreign taxes (including any employment tax obligations) required by law to
be withheld with respect to the payments and benefits under Sections 2 and 3 above. To the extent that amounts are so deducted or withheld, such deducted or withheld amounts shall be treated for all purposes of this Plan as having been paid to such
person in respect of whom such withholding was made. 
 5. Certain Reductions. Notwithstanding anything herein to the
contrary, the Company shall reduce any Executive’s severance benefits under this Plan, in whole or in part, by any other severance benefits, pay in 

  
 2 

 
lieu of notice, or other similar benefits payable to such Executive by the Company in connection with such Executive’s termination, including but not limited to payments or benefits pursuant
to (a) any applicable legal requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act, or (b) any Company agreement, arrangement, policy or practice relating to such Executive’s termination of
employment with the Company. The benefits provided under this Plan are intended to satisfy, to the greatest extent possible, any and all statutory obligations that may arise out of any Executive’s termination of employment. Such reductions
shall be applied on a retroactive basis, with severance benefits previously paid being recharacterized as payments pursuant to the Company’s statutory obligation. 

6. Other Terminations. If an Executive’s service with the Company is terminated by the Company or by the Executive
for any or no reason other than as a Covered Termination, then such Executive shall not be entitled to any benefits hereunder other than accrued but unpaid salary, bonus, vacation and expense reimbursement in accordance with applicable law and to
elect any continued healthcare coverage as may be required under COBRA or similar state law. 
 7. Deemed
Resignation. Upon termination of an Executive’s employment for any reason, such Executive shall be deemed to have resigned from all offices and directorships, if any, and then held with the Company or any of its affiliates, and, at the
Company’s request, the Executive shall execute such documents as are necessary or desirable to effectuate such resignations. 

8. Definitions. For the purposes of this Plan, the following terms shall have the following meanings: 

(a) Affiliate. “Affiliate” means any company controlled by, controlling or under common
control with the Company. 
 (b) Board. “Board” means the Board of Directors of the
Company. 
 (c) Cause. “Cause” means: 

(i) Your conviction of, or plea of nolo contendere to, a felony or any crime involving fraud, embezzlement or
any other act of moral turpitude; 
 (ii) An act of dishonesty made by you in connection with you
responsibilities as an employee; 
 (iii) Your gross misconduct; 

(iv) You unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any
other party to whom you owe an obligation of nondisclosure as a result of your relationship with the Company; 

(v) Your willful breach of any obligations under any written agreement or covenant with the Company; or 

(vi) Your continued failure to perform your employment duties after you have received a written demand of
performance from the Company which specifically sets forth the factual basis for the Company’s belief that you have not substantially performed your duties and has failed to cure such non-performance to the Company’s satisfaction within
ten (10) business days after receiving such notice. 

  
 3 

 (d) Change in Control. “Change in
Control” means and includes each and all of the following occurrences: 
 (i) A transaction or
series of transactions (other than an offering of common stock of the Company to the general public through a registration statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of
“persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) (other than the Company, any of its subsidiaries, an employee benefit plan maintained by the Company or any of its subsidiaries or a
“person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s securities outstanding immediately after such acquisition; 

(ii) During any period of two consecutive years, individuals who, at the beginning of such period, constitute
the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in Sections 8(d)(i) or 8(d)(ii) hereof) whose election by the Board
or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for
election was previously so approved, cease for any reason to constitute a majority thereof; or 
 (iii) The
consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other
disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets or shares of another entity, in each case other than a transaction: 

a. Which results in the Company’s voting securities outstanding immediately before the transaction
continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly,
all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting
power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 

b. After which no person or group beneficially owns voting securities representing 50% or more of the combined
voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this Section 8(d)(iii)(B) as beneficially owning 50% or more of combined voting power of the Successor Entity solely as a result
of the voting power held in the Company prior to the consummation of the transaction. 
 A transaction shall
not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s
securities immediately before such 

  
 4 

 
transaction. 
 Notwithstanding the foregoing, if a
Change in Control constitutes a payment event with respect to any amount that constitutes Deferred Compensation and is subject to Section 409A of the Code, the transaction must also constitute a “change in control event,” as defined
in Treasury Regulation §1.409A-3(i)(5) to the extent required by Section 409A of the Code. 
 (e)
Constructive Termination. “Constructive Termination” means your resignation that is effective within one-hundred twenty (120) days after the occurrence of one or more of the following without your express written
consent: 
 (i) a significant reduction of your duties, position or responsibilities other than as
contemplated by your offer letter or employment agreements, provided that, in the context of a Change in Control, your duties, position or responsibilities will be deemed to not be significantly reduced if you retain reasonably comparable
duties, position and responsibilities with respect to the Company’s pre-Change in Control business within such post-Change in Control Company; 

(ii) a significant reduction by the Company in your base salary as in effect immediately prior to such
reduction, other than a reduction ratably applied to other senior executives of the Company; 
 (iii) the
relocation of your direction to a facility or a location more than forty (40) miles from your then-present location; or 

(iv) the failure by any successor corporation following a Change in Control to assume this Plan. 

A resignation will not be considered a Covered Termination unless the event or condition giving rise to such resignation
continues more than thirty (30) days following your written notice of such event or condition provided to the Company within ninety (90) days of the first occurrence of such event or condition and such resignation is effective within
thirty (30) days following the end of such notice period. 
 (f) Covered Termination.
“Covered Termination” means the termination of any Executive that occurs (i) involuntarily by the Company for any reason other than Cause or (ii) due to a Constructive Termination. 

(g) Plan Administrator. “Plan Administrator” means the Compensation Committee of the
Board. 
 9. Best Pay Provision. Notwithstanding anything in the Plan to the contrary, if any payment or benefit
(including without limitation, any accelerated vesting of equity awards) you would receive pursuant to the Plan or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of
Section 280G of the Code, and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full, or
(ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the
Excise Tax, results in the receipt by you on an after-tax basis, of the largest payment, notwithstanding that all or some portion the Payment may be taxable under Section 4999 of the Code. If a reduction in a Payment is to be made, the
reduction in Payment will occur in the following order: (1) reduction of cash payments; (2) cancellation of 

  
 5 

 
accelerated vesting of equity awards other than stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction of other benefits payable to you. In the event
that acceleration of vesting of equity award compensation is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant of your equity awards. 

10. Effective Date of Plan. This Plan shall be effective as of the date first listed above (the “Effective
Date”). 
 11. Amendment and Termination of this Plan. The Plan may be terminated or amended in any respect
by resolution adopted by two-thirds (2/3) of the Board, provided, that during a Change in Control Period, no amendment or termination of the Plan shall impair any rights of or obligations to any Executive under this Plan unless such
Executive expressly consents to such amendment or termination. 
 12. Plan Administration. The Plan Administrator
shall have discretionary authority to construe and interpret the terms of the Plan, to determine eligibility and to make all other determinations under the Plan. 

13. Arbitration. Any and all disputes, claims, or causes of action arising from or relating to the enforcement, breach,
performance or interpretation of this Plan shall be resolved to the fullest extent permitted by law by final, binding and confidential arbitration, by a single arbitrator, in Maricopa County, Arizona in accordance with the Employment Arbitration
Rules and Mediation Procedures of the American Arbitration Association (the “AAA”) then in effect. Arbitration may be compelled, and judgment may be entered on the arbitration award in any court having jurisdiction. Only individuals
who are (a) lawyers engaged full-time in the practice of law and (b) on the AAA roster of arbitrators shall be selected as an arbitrator. Within twenty (20) days of the conclusion of the arbitration hearing, the arbitrator shall
prepare written findings of fact and conclusions of law. By agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. Except as may be
prohibited by applicable law, or may render this dispute resolution clause unenforceable, if any legal action is brought to enforce this Plan, the prevailing party will be entitled to receive its attorneys’ fees, court costs, and other
collection expenses, in addition to any other relief it may receive. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law
including attorneys fees and litigation costs; and (b) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The arbitrator shall be authorized to award any or
all remedies that you or the Company would be entitled to seek in a court of law. Each party shall bear its own costs and attorneys’ fees in connection with arbitration; provided that the Company shall bear the cost of the arbitrator and
the AAA’s administrative fees. Nothing in this Plan is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. 

14. Funding and Payment of Benefits. This Plan shall be maintained in a manner to be considered “unfunded.”
The Company shall be required to make payments only as benefits become due and payable. No person shall have any right, other than the right of an unsecured general creditor against the Company, with respect to the benefits payable hereunder, or
which may be payable hereunder, to any Executive, surviving spouse or beneficiary hereunder. If the Company, acting in its sole discretion, establishes a reserve or other fund associated with this Plan, no person shall have any right to or interest
in any specific amount or asset of such reserve or fund by reason of amounts which may be payable to such person under this Plan, nor shall such person have any right to receive any payment under this Plan except as and to the extent expressly
provided in this Plan. The assets in any such reserve or fund shall be part of the general assets of the Company, subject to the control of the Company. 

15. Plan Application. This Plan shall be the only plan, arrangement or agreement with respect to which benefits may be
provided to you upon a termination of your employment in a manner described in 

  
 6 

 
Sections 2 or 3 hereof, as applicable, provided, that this Plan shall not adversely effect the express terms of any equity award granted to you by the Company. 

16. Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger,
consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Plan and agree expressly to perform any of the Company’s obligations under this Plan. For
all purposes under this Plan, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers an assumption agreement or which becomes bound by the terms of this Plan by operation of
law. All of your rights hereunder shall inure to the benefit of, and be enforceable by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

17. Limitation on Employee Rights; At-Will Employment. This Plan shall not give any employee the right to be retained
in the service of the Company or interfere with or restrict the right of the Company to discharge or retire the employee. All employees of the Company are employed at will. 

18. No Third-Party Beneficiaries. This Plan shall not give any rights or remedies to any person other than Executives
and the Company. 
 19. Governing Law. This Plan shall be administered, interpreted and enforced under the internal
laws of the State of Arizona without regard to conflicts of laws thereof. 
 20. No Assignment of Benefits. The
rights of any person to payments or benefits under this Plan shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment
or other creditor’s process, and any action in violation of this subsection shall be void. 
 21. Miscellaneous.
Where the context so indicates, the singular will include the plural and vice versa. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Plan. Unless the context clearly
indicates to the contrary, a reference to a statute or document shall be construed as referring to any subsequently enacted, adopted, or executed counterpart. 

22. Section 409A. 

(a) Separation from Service. Notwithstanding anything in this Plan to the contrary, any compensation or
benefits payable under this Plan that constitutes “nonqualified deferred compensation” (“Deferred Compensation”) within the meaning of Section 409A of the Code, and which is designated under this Plan as payable upon
your termination of employment shall be payable only upon your “separation from service” with the Company within the meaning of Section 409A of the Code (a “Separation from Service”) and, except as provided under
Section 18(b) of this Plan, any such compensation or benefits shall not be paid, or, in the case of installments, shall not commence payment, until the sixtieth (60th) day following your Separation from Service. Any installment payments
that would have been made to you during the sixty (60) day period immediately following your Separation from Service but for the preceding sentence shall be paid to you on the sixtieth (60th) day following your Separation from Service and
the remaining payments shall be made as provided in this Plan. 
 (b) Specified Employees.
Notwithstanding any provision herein to the contrary, if you are deemed by the Company at the time of your Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent
delayed commencement of any portion of the benefits to which you are entitled under this Plan is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of your benefits shall not be

  
 7 

 
provided to you prior to the earlier of (i) the expiration of the six-month period measured from the date of your Separation from Service or (ii) the date of your death. Upon the first
business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to you (or your estate or beneficiaries), and any remaining
payments due to you under this Plan shall be paid as otherwise provided herein. 
 (c) Installments.
Your right to receive any installment payments under this Plan shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment as
permitted under Treasury Regulation Section 1.409A-2(b)(2)(iii). 
 (d) General. To the extent
applicable, this Plan shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including
without limitation any such regulations or other guidance that may be issued after the adoption of this Plan. Notwithstanding any provision of this Plan to the contrary, in the event that the Company determines that any amounts payable hereunder
will be immediately taxable to you under Section 409A of the Code and related Department of Department of Treasury guidance, to the extent permitted under Section 409A of the Code, the Company may, to the extent permitted under
Section 409A of the Code (i) cooperate in good faith to adopt such amendments to this Plan and appropriate policies and procedures, including amendments and policies with retroactive effect, that they determine necessary or appropriate to
preserve the intended tax treatment of the benefits provided by this Plan, preserve the economic benefits of this Plan and/or (ii) take such other actions as mutually determined necessary or appropriate to exempt the amounts payable hereunder
from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes under such section. To the extent applicable, each of the exceptions to Code
Section 409A’s prohibition on acceleration of payments of Deferred Compensation provided under Treasury Regulation 1.409A-3(j)(4) shall be permitted under the Plan. 

  
 8

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