Document:

EX-10.9

 Exhibit 10.9 

FULGENT GENETICS, INC. 

2016 OMNIBUS INCENTIVE PLAN 

OPTION SUBSTITUTION AWARD 

On             , 2016 (the “Effective Date”), Fulgent
Genetics, Inc., a Delaware corporation (the “Company”), completed an initial public offering (the “IPO”) of shares of common stock of the Company, $0.0001 par value per share (“Shares”). Immediately
prior to completion of the IPO, the Company completed a reorganization pursuant to which Fulgent Therapeutics LLC (“Fulgent Therapeutics LLC”) became a wholly-owned subsidiary of the Company (the “Reorganization”)
and holders of Fulgent Therapeutics LLC shares received Shares in exchange for their Fulgent Therapeutics LLC shares. Immediately before the Reorganization, the individual named below (“Optionee”) held outstanding options to
purchase Class D common shares (“LLC Shares”) of Fulgent Therapeutics LLC (the “Fulgent Therapeutics LLC Option”) issued pursuant to the Fulgent Therapeutics LLC Amended and Restated 2015 Equity Incentive Plan, as
amended (the “LLC Plan”). In connection with the Reorganization, the Fulgent Therapeutics LLC Option is being exchanged for and substituted with an option to purchase Shares (the “Fulgent Genetics, Inc. Option”)
granted under the Fulgent Genetics, Inc. 2016 Omnibus Incentive Plan (the “Plan”). This Option Substitution Award (the “Award”) evidences the terms of the Fulgent Genetics, Inc. Option, and the cancellation of the
Fulgent Therapeutics LLC Option. 
 Name of Optionee:
                                         
        
 The table below summarizes the option immediately before and after the Reorganization: 

 

									
	 	 	 Fulgent Therapeutics LLC Option
	  	
Fulgent Genetics, Inc. Option

	 Grant Date
	 	 No. of Shares

of Fulgent
Therapeutics LLC
	 	 Exercise Price

per Share
	  	 No. of Shares

of Fulgent

Genetics, Inc.
	  	 Exercise Price

per Share

A. ADJUSTMENTS AND SUBSTITUTION 

1. Tax Law Requirements. The adjustments and substitution are intended to comply with federal tax law requirements to avoid being
considered a modification of the original option for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), which requires, among other things, the following: 

(a) The total spread (the excess of the aggregate fair market value of the Shares subject to the option over the aggregate option exercise
price) of the Fulgent Genetics, Inc. Option immediately after the adjustments and substitution cannot exceed the total spread of the Fulgent Therapeutics LLC Option immediately before the adjustment and substitution; 

(b) The ratio of the option exercise price to the fair market value of a Share subject to the Fulgent Genetics, Inc. Option immediately after
the adjustments and substitution cannot be greater than the ratio of the option exercise price to the fair market value of a Share subject to the Fulgent Therapeutics LLC Option immediately before the adjustments and substitution; 

(c) The Fulgent Genetics, Inc. Option must contain all terms of the Fulgent Therapeutics LLC Option, except to the extent such terms are
rendered inoperative by the Reorganization; 
 (d) The Fulgent Genetics, Inc. Option must not provide Optionee additional benefits that
Optionee did not have under the Fulgent Therapeutics LLC Option; and 
 (e) In connection with the substitution and the receipt of the
Fulgent Genetics, Inc. Option, all rights of Optionee under the Fulgent Therapeutics LLC Option must be cancelled. 
 2.
Substitution. In connection with the Reorganization, each outstanding Fulgent Therapeutics LLC Option is being exchanged for a Fulgent Genetics, Inc. Option, and, following the exchange, the Fulgent Therapeutics LLC Option shall be cancelled.

 3. Other Adjustments. The number of Shares subject to the Fulgent Genetics, Inc. was
determined by rounding the amount determined after the substitution down to the next whole number of Shares, and the exercise price per Share was determined by rounding the amount determined after the substitution up to the next whole cent. 

B. STOCK OPTION AWARD 
 1.
Grant of Option. Subject to the terms and conditions of this Award and the Plan, the Company hereby grants to Optionee, an Option to purchase the number of Shares, at the Exercise Price (each as set forth on the cover page of this Award), and
subject to the terms and conditions of the Plan, which is incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and this Award, the terms and conditions of the Plan shall govern, except to the
extent the Plan would be considered to provide for an additional benefit that would violate the tax law requirement set forth in Section A.1 of this Award. All capitalized terms in this Award that are not otherwise defined herein shall have the
meaning assigned to them in this Award or in the Plan. 
 2. Type of Option. The Option is a Non-Qualified Stock
Option. 
 3. Vesting. [Vesting schedule applicable to the Fulgent Therapeutics LLC Option] 

4. Option Term; Expiration Date. The Option shall have a maximum term of ten (10) years measured from the original Grant Date (as
set forth in the table on the cover page of this Award) and shall accordingly expire at the close of business at Company headquarters on the day prior to the tenth anniversary of the Grant Date or such earlier date pursuant to Section B.5 of this
Award (the “Expiration Date”). 
 5. Termination of Service; Expiration of Option. The Option (whether
or not vested) shall expire immediately and be forfeited in the event that Optionee’s Continuous Service is terminated for Cause. Upon any termination of Continuous Service other than a termination by the Company for Cause or due to
Optionee’s death or Disability, the vested portion of the Option (if any) will expire on the earlier of (i) 90 days after the termination of Continuous Service and (ii) the close of business on the tenth anniversary of the date of the
original Grant Date. The vested portion of the Option (if any) will expire on the earlier of (i) 12 months after the termination of Continuous Service in the event Optionee’s Continuous Service terminates as a result of Optionee’s
Disability and (ii) the close of business on the tenth anniversary of the date of the original Grant Date. In the event of the termination of Optionee’s Continuous Service as a result of death, or in the event of Optionee’s death
during the 90 days after the termination of his or her Continuous Service or during the 12 month period following Optionee’s termination of Continuous Service as a result of his or her Disability the Option will expire on the earlier of
(i) 12 months following the date of Optionee’s death and (ii) the close of business on the tenth anniversary of the original Grant Date. Upon termination of Continuous Service for any reason, the unvested portion of the Option (if
any) will immediately expire. For purposes of this Agreement “Cause” shall have the same meaning as defined in a then-effective written agreement between Optionee and the Company or an Affiliate, or in the absence of such a then-effective
written agreement and definition, in the determination of the Administrator, Optionee’s: (i) performance of any act of failure to perform any act in bad faith and to the detriment of the Company or a Related Entity; (ii) dishonesty,
intentional misconduct or material breach of any agreement with the Company or a Related Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person. 

6. Option Exercise.  

(a) Right to Exercise. The vested portion of the Option (if any) shall be exercisable on or before the Expiration Date. 

(b) Exercise. Prior to the close of business on the Expiration Date, Optionee may exercise all or any portion of the Option by
delivering written notice of exercise to the Company, together with payment in full by delivery of cash, a cashier’s, personal or certified check or wire transfer of immediately available funds to the Company in the amount equal to the number
of Shares subject to the Option to be acquired multiplied by the applicable option exercise price. Additionally, Optionee must make arrangements with the Company for payment of any tax withholding on Option exercise. 

  
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 7. Tax Withholding. The Company or any Related Entity shall be entitled, if necessary or
desirable, to deduct and withhold (or, in the sole discretion of the Company, secure payment from Optionee in lieu of withholding) the amount of any tax withholding due with respect to this Award. In the Company’s sole discretion, such tax
withholding may be accomplished by the withholding of Shares which would otherwise be issued upon Option exercise to Optionee in an amount whose Fair Market Value is equal to the amount required to be withheld (provided the amount withheld does not
exceed the maximum statutory tax rate for an employee in the applicable jurisdictions or such lesser amount if necessary to avoid adverse accounting treatment). In the event that the Company or a Related Entity does not make such deductions or
withholdings, Optionee shall indemnify the Company and a Related Entity for any amounts paid or payable by the Company or a Related Entity with respect to any such taxes, together with any interest, penalties and additions to tax and any related
expenses thereto. 
 8. Transfer of Option. The Option may not be transferred in any manner other than by will or by the laws of
descent and distribution, provided, however, that the Option may be transferred during the lifetime of Optionee to the extent and in the manner authorized by the Committee. 

9. Continued Service. Neither the grant of the Option nor this Award gives Optionee the right to continue service with the Company or
its Related Entities in any capacity. The Company and its Related Entities reserve the right to terminate Optionee’s Continuous Service at any time and for any reason not prohibited by law. 

10. Stockholder Rights. Until the stock certificate evidencing Shares subject to the Option are issued (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Shares, notwithstanding the exercise of the Option.
No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. 

11. Additional Requirements. Optionee acknowledges that Shares acquired upon exercise of the Option may bear such legends as the
Company deems appropriate to comply with applicable federal, state or foreign securities laws. 
 12. Governing Law. The validity and
construction of this Award and the Plan shall be construed in accordance with and governed by the laws of the State of Delaware other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of
the Plan and this Award to the substantive laws of any other jurisdiction. 
 13. Binding Effect. This Award shall be binding upon
and inure to the benefit of the Company and Optionee and their respective heirs, executors, administrators, legal representatives, successors and assigns. 

14. Tax Treatment; Section 409A. Optionee may incur tax liability as a result of the exercise of the Option or the
disposition of Shares. Optionee should consult his or her own tax adviser before exercising the Option or disposing of the Shares. 

Optionee acknowledges that the Administrator, in the exercise of its sole discretion and without Optionee’s consent, may amend or modify
the Option and this Award in any manner and delay the payment of any amounts payable pursuant to this Award to the minimum extent necessary to satisfy the requirements of Section 409A of the Code. The Company will provide Optionee with notice
of any such amendment or modification. 
 15. Amendment. The terms and conditions set forth in this Award may only be amended by the
written consent of the Company and Optionee, except to the extent set forth in Section B.14 hereof regarding Section 409A of the Code and any other provision set forth in the Plan. 

  
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 16. 2016 Omnibus Incentive Plan. The Option and Shares acquired upon exercise of the
Option granted hereunder shall be subject to such additional terms and conditions as may be imposed under the terms of the Plan, a copy of which has been provided to Optionee. 

 

			
	FULGENT GENETICS, INC.
		
	 By:
	 	 
		
	Date:	 	 

 To acknowledge your acceptance of the Award and the cancellation of your Fulgent Therapeutics LLC Option, please sign
and date below. 
  

			
	 
	 Optionee’s Signature
	 	
		
	  
	 	  

 
			
	 Date:
	 	 

  
 4EX-10.10

 Exhibit 10.10 

FULGENT GENETICS, INC. 

2016 OMNIBUS INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK UNIT SUBSTITUTION AWARD 

On                     , 2016 (the
“Effective Date”), Fulgent Genetics, Inc., a Delaware corporation (the “Company”), completed an initial public offering (the “IPO”) of shares of common stock of the Company, $0.0001 par value per
share (“Shares”). Immediately before completion of the IPO, the Company completed a reorganization pursuant to which Fulgent Therapeutics LLC (“Fulgent Therapeutics LLC”) became a wholly-owned subsidiary of the
Company (the “Reorganization”) and holders of Fulgent Therapeutics LLC shares received Shares in exchange for their Fulgent Therapeutics LLC shares. 

Immediately before the Reorganization, the individual named below (the “Grantee”) held a restricted share unit award relating
to Class D common shares of Fulgent Therapeutics LLC (the “Fulgent Therapeutics LLC RSU”), which was granted pursuant to the Fulgent Therapeutics LLC Amended and Restated 2015 Equity Incentive Plan, as amended. In connection with
the completion of the Reorganization, the Fulgent Therapeutics LLC RSU is being exchanged for and substituted with a restricted stock unit award covering Shares (the “Fulgent Genetics, Inc. RSU”), granted under the Fulgent Genetics,
Inc. 2016 Omnibus Incentive Plan (the “Plan”). 
 This Notice of Restricted Stock Unit Substitution Award (the
“Notice”) evidences the terms of the Fulgent Genetics, Inc. RSU, and the cancellation of the Fulgent Therapeutics LLC RSU. 
  

			
	Name of Grantee:	  	  

 The following table shows the number of Class D common shares of Fulgent Therapeutics LLC subject to the Fulgent Therapeutics
LLC RSU immediately before the Reorganization, and the number of Shares subject to the Fulgent Genetics, Inc. RSU immediately after the Reorganization: 
  

					
	 Fulgent Therapeutics LLC
RSU
	  	 Fulgent Genetics, Inc. RSU

	 Grant Date
	  	 No. of Fulgent Therapeutics LLC RSUs
	  	 No. of Fulgent Genetics, Inc. RSUs

1. Exchange of RSUs. In connection with the Reorganization, the Fulgent Therapeutics LLC RSU was exchanged for the Fulgent Genetics,
Inc. RSU. As a result of the exchange, the Fulgent Therapeutics LLC RSU has been cancelled and is of no further force or effect. The number of Shares subject to the Fulgent Genetics, Inc. RSU on the Effective Date was determined in accordance with
the exchange ratio used in the Reorganization, with the final number of Shares subject to the Fulgent Genetics, Inc. RSU rounded down to the nearest whole number of Shares. 

2. Vesting Schedule. Subject to the Grantee’s Continuous Service and other limitations set forth in the Restricted Stock Unit
Agreement attached hereto and the Plan, the Fulgent Genetics, Inc. RSU will vest in accordance with the following schedule, which is the same vesting schedule that applied to the Fulgent Therapeutics LLC RSU: [Vesting schedule applicable to the
Fulgent Therapeutics LLC RSU] 
 3. Governing Terms. The Fulgent Genetics, Inc. RSUs are subject to the terms and provisions
of this Notice, the Restricted Stock Unit Agreement attached hereto, and the Plan, which is incorporated herein by reference. 

 RESTRICTED STOCK UNIT AGREEMENT 

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the “Agreement”), effective as of [·], 2016, is between Fulgent Genetics, Inc. (the “Company”), and [Grantee] (the “Grantee”). Capitalized terms used
herein but not defined herein shall have the meanings set forth in the Notice and the Company’s 2016 Omnibus Incentive Plan, as may be amended from time to time (the “Plan”), a copy of which the Grantee acknowledges having received.

 1. RESTRICTED STOCK UNIT GRANT. The Company hereby grants to the Grantee, subject to the terms and conditions of the Notice, this
Agreement, and the Plan, an award of Restricted Stock Units (the “Award”). Restricted Stock Units are notional units (not actual Shares), representing an unfunded, unsecured right to receive one Share for each Restricted Stock Unit that
vests. 
 2. CONTINUED EMPLOYMENT REQUIREMENT. Vesting of the Restricted Stock Units is contingent upon the Grantee’s Continuous
Service through the date that the Restricted Stock Units vest, as set forth in the “Vesting Schedule” in the Notice. If the Grantee’s Continuous Service terminates for any reason, any Restricted Stock Units that are unvested on the
date of termination shall immediately and automatically be forfeited as of the date of termination, and the Grantee shall have no further rights with respect thereto. 

3. ISSUANCE OF SHARES. One Share will be issued for each Restricted Stock Unit that vests, with such issuance occurring no later than 30 days
following the day of vesting. 
 4. TAX WITHHOLDING. In accordance with Section 7(c) of the Plan, the Company shall have the power and
right to deduct or withhold, or require the Grantee to remit to the Company, an amount sufficient to satisfy any federal, state, local and other taxes (including the Grantee’s payroll tax obligations) required by law to be withheld with respect
to this Award (provided the amount withheld does not exceed the maximum statutory tax rate for an employee in the applicable jurisdictions or such lesser amount as is necessary to avoid adverse accounting treatment). The Grantee may be required to
pay to the Company in cash or cash equivalents, either prior to or concurrent with the delivery of Shares in respect of any Restricted Stock Units that vest, the amount required by law to be withheld. The Company may establish other rules and
procedures to allow the Grantee to satisfy and to facilitate the required tax withholding from time to time. 
 5. RESTRICTIONS ON TRANSFER
OF AWARD. 
 (a) General. The Restricted Stock Units, this Award, and any right to receive Shares pursuant to this Award, may not be
sold, assigned, transferred, encumbered, hypothecated or pledged by the Grantee. 
 (b) Market Stand-Off. In connection with the IPO,
the Grantee or any holder of the Shares acquired under this Award shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or
other contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Award without the prior written consent of the Company or the underwriters
in the IPO. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company or such underwriters. The Market Stand-Off
shall in any event terminate two years after the date of the IPO. In the event of the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Shares
without receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible,
shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired under this Award until the end of the applicable stand-off period.
The Company’s underwriters shall be beneficiaries of the agreement set forth in this Subsection (b). This Subsection (b) shall not apply to Shares registered in the IPO under the Securities Act of 1933 (the “Securities Act”), and
the Grantee shall be subject to this Subsection (b) only if the directors and officers of the Company are subject to similar arrangements. 

 (c) Securities Law Restrictions. Regardless of whether the issuance of Shares hereunder
have been registered under the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of the Shares (including the
placement of appropriate legends on Share certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act, the
securities laws of any state or any other law. 
 6. RIGHT TO SHARES AND DIVIDENDS; DIVIDEND EQUIVALENTS. The Grantee shall not have
any right in, to or with respect to any of the Shares (including any voting rights or rights with respect to dividends paid on the Shares) issuable under the Award unless and until Shares are issued to the Grantee at or after vesting of the Units.
No Dividend Equivalents shall be earned or paid with respect to any Units. 
 7. TAXES. 

(a) Tax Liability. The Grantee is ultimately liable and responsible for all taxes owed by the Grantee in connection with the Award,
regardless of any action the Company or any Related Entity takes with respect to any tax withholding obligations that arise in connection with the Award. Neither the Company nor any Related Entity makes any representation or undertaking regarding
the treatment of any tax withholding in connection with any aspect of the Award, including the grant, vesting, assignment, release or cancellation of the Units, the delivery of Shares, the subsequent sale of any Shares acquired upon vesting and the
receipt of any dividends or dividend equivalents. The Company does not commit and is under no obligation to structure the Award to reduce or eliminate the Grantee’s tax liability. 

(b) Payment of Withholding Taxes. Prior to any event in connection with the Award (e.g., vesting or issuance of Shares) that the
Company determines may result in any tax withholding obligation, whether United States federal, state, local or non-U.S., including any social insurance, employment tax, payment on account or other tax-related obligation (the “Tax
Withholding Obligation”), the Grantee must arrange for the satisfaction of the Tax Withholding Obligation in a manner acceptable to the Company. 

(i) By Share Withholding. If permissible under Applicable Laws, the Grantee may direct the Company to withhold from those Shares
otherwise issuable to the Grantee the whole number of Shares sufficient to satisfy the applicable Tax Withholding Obligation. The Grantee acknowledges that the withheld Shares may not be sufficient to satisfy the Grantee’s Tax Withholding
Obligation. Accordingly, the Grantee agrees to pay to the Company or any Related Entity as soon as practicable, including through additional payroll withholding, any amount of the Tax Withholding Obligation that is not satisfied by the withholding
of Shares described above. 
 (ii) By Sale of Shares. If permissible under Applicable Laws and approved by the Administrator, the
Grantee may also direct a brokerage firm determined acceptable to the Company for such purpose to sell on the Grantee’s behalf a whole number of Shares from those Shares issuable to the Grantee as the Company determines to be appropriate to
generate cash proceeds sufficient to satisfy the applicable Tax Withholding Obligation. Such Shares will be sold on the day such Tax Withholding Obligation arises or as soon thereafter as practicable. The Grantee will be responsible for all
broker’s fees and other costs of sale, and the Grantee agrees to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating to any such sale. To the extent the proceeds of such sale exceed the Grantee’s
Tax Withholding Obligation, the Company agrees to pay such excess in cash to the Grantee. The Grantee acknowledges that the Company or its designee is under no obligation to arrange for such sale at any particular price, and that the proceeds of any
such sale may not be sufficient to satisfy the Grantee’s Tax Withholding Obligation. Accordingly, the Grantee agrees to pay to the Company or any Related Entity as soon as practicable, including through additional payroll withholding, any
amount of the Tax Withholding Obligation that is not satisfied by the sale of Shares described above. 
 (iii) By Check, Wire Transfer
or Other Means. At any time not less than five (5) business days (or such fewer number of business days as determined by the Administrator) before any Tax Withholding Obligation arises (e.g., a vesting date), the Grantee may elect to
satisfy the Grantee’s Tax Withholding Obligation by delivering to the Company an amount that the Company determines is sufficient to satisfy the Tax Withholding Obligation by (x) wire transfer to such account as the Company may direct,
(y) delivery of a certified check payable to the Company, or (z) such other means as specified from time to time by the Administrator. 

  
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 Notwithstanding the foregoing, the Company or a Related Entity also may satisfy any Tax
Withholding Obligation by offsetting any amounts (including, but not limited to, salary, bonus and severance payments) payable to the Grantee by the Company and/or a Related Entity. Furthermore, in the event of any determination that the Company has
failed to withhold a sum sufficient to pay all withholding taxes due in connection with the Award, the Grantee agrees to pay the Company the amount of such deficiency in cash within five (5) days after receiving a written demand from the
Company to do so, whether or not the Grantee is an employee of the Company at that time. 
 8. ENTIRE AGREEMENT; GOVERNING LAW. The
Notice, the Plan and this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the
subject matter hereof, and may not be amended or modified adversely to the Grantee’s interest except by means of a writing signed by the Company and the Grantee. These agreements are to be construed in accordance with and governed by the
internal laws of the State of Delaware without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the parties.
Should any provision of the Notice or this Agreement be determined to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable. 

9. CONSTRUCTION. The captions used in the Notice and this Agreement are inserted for convenience and shall not be deemed a part of the
Award for construction or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the
context clearly requires otherwise. 
 10. ADMINISTRATION AND INTERPRETATION. Any question or dispute regarding the administration or
interpretation of the Notice, the Plan or this Agreement shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons. 

11. VENUE AND JURISDICTION. The parties agree that any suit, action, or proceeding arising out of or relating to the Notice, the Plan
or this Agreement shall be brought exclusively in the United States District Court for Delaware (or should such court lack jurisdiction to hear such action, suit or proceeding, in a Delaware state court) and that the parties shall submit to the
jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. If any one or more provisions
of this Section 11 shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable. 

12. NOTICES. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal
delivery, upon deposit for delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, addressed to
the other party at its address as shown in these instruments, or to such other address as such party may designate in writing from time to time to the other party. 

13. SECTION 409A. The Grantee acknowledges that the Company, in the exercise of its sole discretion and without the consent of the
Grantee, may amend or modify this Agreement in any manner and delay the issuance of any Shares issuable pursuant to this Agreement to the minimum extent necessary to meet the requirements of Section 409A of the Code as amplified by any Treasury
regulations or guidance from the Internal Revenue Service as the Company deems appropriate or advisable. The Company makes no representation that the Award will comply with Section 409A of the Code and makes no undertaking to prevent
Section 409A of the Code from applying to the Award or to mitigate its effects on any deferrals or payments made in respect of the Units. The Grantee is encouraged to consult a tax adviser regarding the potential impact of Section 409A of
the Code. 

  
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 14. GRANTEE’S REPRESENTATIONS. The Grantee hereby represents and warrants to the
Company in connection with the grant of the Restricted Stock Units hereunder, and the issuance of any Shares in respect of such Restricted Stock Units, that: 

(a) [The Grantee understands that the Shares have not been registered under the Securities Act, nor qualified under any state securities laws,
and that it is being offered and sold pursuant to, and in reliance upon, an exemption from such registration and qualification based in part upon the Grantee’s representations contained herein; the Shares are being issued to the Grantee
hereunder in reliance upon the exemption from such registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) for transactions by an issuer not involving any public offering, and in
connection therewith, the Grantee acknowledges the Grantee’s status as an “accredited investor” within the meaning of Rule 501 promulgated under the Securities Act; 

(b) The Grantee is an “accredited investor” as such term is defined in Rule 501(a) of the Securities Act and has such knowledge
and experience in financial and business matters that the Grantee is capable of evaluating the merits and risks of the investment contemplated by this Agreement; and the Grantee is able to bear the economic risk of this investment in the Company
(including a complete loss of this investment); 
 (c) Except as specifically provided herein or in the Plan, the Grantee has no contract,
undertaking, understanding, agreement or arrangement, formal or informal, with any person to sell, transfer or pledge all or any portion of his Shares, and has no current plans to enter into any such contract, undertaking, understanding, agreement
or arrangement; 
 (d) The Grantee has not seen, received, been presented with, or been solicited by any leaflet, public promotional
meeting, article or any other form of advertising or general solicitation as to the Company’s sale to the Grantee of his Shares; 
 (e)
The Grantee is familiar with the business and operations of the Company and has been afforded full and complete access to the books, financial statements, records, contracts, documents and other information concerning the Company and its proposed
activities, and has been afforded an opportunity to ask such questions of the Company’s agents, accountants and other representatives concerning the Company’s proposed business, operations, financial condition, assets, liabilities and
other relevant matters as he has deemed necessary or desirable, and has been given all such information as has been requested, in order to evaluate the merits and risks of the investment contemplated herein; 

(f) The Grantee has been informed that the Shares are restricted securities under the Securities Act and may not be resold or transferred
unless the Shares are first registered under the federal securities laws or unless an exemption from such registration is available; and 

(g) The Grantee is prepared to hold the Shares for an indefinite period and that the Grantee is aware that Rule 144 as promulgated under the
Securities Act, which exempts certain resales of restricted securities, is not presently available to exempt the resale of the Shares from the registration requirements of the Securities Act.] 

(a) [The Grantee understands that neither the Restricted Stock Units nor the Shares issuable hereunder have been registered under the
Securities Act of 1933, as amended, or any United States securities laws. In the event the Shares issuable hereunder have not been registered under the Securities Act, at the time the Shares are issued, the Grantee shall, if requested by the
Company, concurrently with the issuance, deliver to the Company his or her investment representation statement in a form determined by the Administrator from time to time.] 

END OF AGREEMENT  

  
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