Document:

EX-10.12

 Exhibit 10.12 
 CHANNELADVISOR CORPORATION 
 2001 STOCK PLAN 

1. Purposes of the Plan. The purposes of this Stock Plan are to attract and retain the best available personnel for positions of
substantial responsibility, to provide additional incentive to Employees, Directors and Consultants and to promote the success of the Company’s business. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock
Options, as determined by the Administrator at the time of grant. Stock Awards may also be granted under the Plan. 
 2.
Definitions. As used herein, the following definitions shall apply: 
 (a) “Administrator” means the
Board or any of its Committees as shall be administering the Plan in accordance with Section 4 hereof. 
 (b)
“Applicable Laws” means the requirements relating to the administration of stock option plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the
Common Stock is listed or quoted and the applicable laws of any other country or jurisdiction where Options and Stock Awards are granted under the Plan. 
 (c) “Board” means the Board of Directors of the Company. 
 (d)
“Change in Control” means the occurrence of any of the following events: 
 (i) Any “person” (as
such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or
more of the total voting power represented by the Company’s then outstanding voting securities; or 
 (ii) The
consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

(iii) The consummation of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty
percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation. 

(e) “Code” means the Internal Revenue Code of 1986, as amended. 

(f) “Committee” means a committee of Directors appointed by the Board in accordance with Section 4 hereof.

 (g) “Common Stock” means the Common Stock of the Company. 

(h) “Company” means ChannelAdvisor Corporation, a Delaware corporation. 

(i) “Consultant” means any person who is engaged by the Company or any Parent or Subsidiary to render consulting or
advisory services to such entity. 
 (j) “Director” means a member of the Board. 

(k) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code. 

(l) “Employee” means any person, including officers and Directors, employed by the Company or any Parent or Subsidiary
of the Company. A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, any Subsidiary, or
any successor. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence
approved by the Company is not so guaranteed, then three (3) months following the 90th day of such leave, any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax
purposes as a Nonstatutory Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute “employment” by the Company. 

(m) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(n) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of
determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii)
If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall be the mean between the high bid and low asked prices for the Common Stock on the day of determination; or

 (iii) In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in
good faith by the Administrator. 
 (o) “Incentive Stock Option” means an Option intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code. 

  
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 (p) “Nonstatutory Stock Option” means an Option not intended to qualify as
an Incentive Stock Option. 
 (q) “Option” means a stock option granted pursuant to the Plan. 

(r) “Option Agreement” means a written or electronic agreement between the Company and an Optionee evidencing the terms
and conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
 (s)
“Optioned Stock” means the Common Stock subject to an Option. 
 (t) “Optionee” means the
holder of an outstanding Option or Stock Award granted under the Plan. 
 (u) “Parent” means a “parent
corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code. 
 (v)
“Plan” means this 2001 Stock Plan. 
 (w) “Service Provider” means an Employee, Director or
Consultant. 
 (x) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13
below. 
 (y) “Stock Award” means shares of Common Stock acquired pursuant to a grant of a Stock Award under
Section 11. 
 (z) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter
existing, as defined in Section 424(f) of the Code. 
 3. Stock Subject to the Plan. Subject to the provisions of
Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is four million (4,000,000) Shares. The Shares may be authorized but unissued, or reacquired Common Stock. 

If an Option or Stock Award expires or becomes unexercisable without having been exercised in full, the unpurchased Shares (or for Stock
Awards, the forfeited Shares) which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). However, Shares that have actually been issued under the Plan, upon exercise of an Option,
shall not be returned to the Plan and shall not become available for future distribution under the Plan, except that if Shares of restricted stock issued pursuant to an Option are repurchased by the Company at their original purchase price, such
Shares shall become available for future grant under the Plan. 
 4. Administration of the Plan. 

(a) The Plan shall be administered by the Board or a Committee appointed by the Board, which Committee shall be constituted to comply
with Applicable Laws. 

  
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 (b) Powers of the Administrator. Subject to the provisions of the Plan and, in the
case of a Committee, the specific duties delegated by the Board to such Committee, and subject to the approval of any relevant authorities, the Administrator shall have the authority in its discretion: 

(i) to determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Options and Stock Awards may from time to time be granted hereunder; 
 (iii) to determine the number of Shares to be covered by each such Option and Stock Award granted hereunder; 
 (iv) to approve forms of agreement for use under the Plan; 
 (v) to determine the
terms and conditions of any award granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Options and Stock Awards may be exercised (which may be based on performance criteria), any
vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Option and Stock Award or the Shares of Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole
discretion, shall determine; 
 (vi) to prescribe, amend and rescind rules and regulations relating to the Plan, including
rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws; 
 (vii) to
allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to be issued upon exercise of an Option that number of Shares having a Fair Market Value equal to the minimum amount required to be
withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by Optionees to have Shares withheld for this purpose shall be made in such form
and under such conditions as the Administrator may deem necessary or advisable; and 
 (viii) to construe and interpret the
terms of the Plan and awards granted pursuant to the Plan. 
 (c) Effect of Administrator’s Decision. All decisions,
determinations and interpretations of the Administrator shall be final and binding on all Optionees. 
 5. Eligibility.
Stock Awards and Nonstatutory Stock Options may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 
 6. Limitations. 
 (a) Incentive Stock Option Limit. Each Option
shall be designated in the Option Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares

  
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with respect to which Incentive Stock Options are exercisable for the first time by the Optionee during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds
$100,000, such Options shall be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options shall be taken into account in the order in which they were granted. The Fair Market Value of the Shares shall be
determined as of the time the Option with respect to such Shares is granted. 
 (b) At-Will Employment. Neither the Plan
nor any Option or Stock Award shall confer upon any Optionee any right with respect to continuing the Optionee’s relationship as a Service Provider with the Company, nor shall it interfere in any way with his or her right or the Company’s
right to terminate such relationship at any time, with or without cause, and with or without notice. 
 7. Term of Plan.
Subject to shareholder approval in accordance with Section 19, the Plan shall become effective upon its adoption by the Board. Unless sooner terminated under Section 15, it shall continue in effect for a term of ten (10) years from
the later of (i) the effective date of the Plan, or (ii) the date of the most recent Board approval of an increase in the number of shares reserved for issuance under the Plan, provided such increase is approved by the stockholders within
the time limits required. 
 8. Term of Option. The term of each Option shall be stated in the Option Agreement;
provided, however, that the term shall be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to an Optionee who, at the time the Option is granted, actually or constructively, as defined
in regulations adopted under the Code, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Option shall be five (5) years from the date
of grant or such shorter term as may be provided in the Option Agreement. 
 9. Option Exercise Price and Consideration.

 (a) Exercise Price. The per share exercise price for the Shares to be issued upon exercise of an Option shall be such
price as is determined by the Administrator, but shall be subject to the following: 
 (i) In the case of an Incentive Stock
Option 
 (A) granted to an Employee who, at the time of grant of such Option, actually or constructively, as defined in
regulations adopted under the Code, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the exercise price shall be no less than 110% of the Fair Market
Value per Share on the date of grant. 
 (B) granted to any other Employee, the per Share exercise price shall be no less than
100% of the Fair Market Value per Share on the date of grant. 
 (ii) In the case of a Nonstatutory Stock Option, the per Share
exercise price shall be determined by the Administrator. 

  
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 (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price
other than as required above pursuant to a merger or other corporate transaction. 
 (b) Forms of Consideration. The
consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant).
Such consideration may consist of, without limitations, (1) cash, (2) check, (3) promissory note, (4) other Shares, provided Shares acquired from the Company, either directly or indirectly, (x) have been owned by the
Optionee for more than six months on the date of surrender, and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, (5) consideration
received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (6) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept,
the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. 
 10.
Exercise of Option. 
 (a) Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder shall be
exercisable according to the terms hereof at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. Unless the Administrator provides otherwise, vesting of Options granted hereunder shall be
suspended during any unpaid leave of absence. An Option may not be exercised for a fraction of a Share. 
 An Option shall be
deemed exercised when the Company receives: (i) written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which
the Option is exercised. Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of
the Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the Shares 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 shareholder shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is
exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

Exercise of an Option in any manner shall result in a decrease in the number of Shares thereafter available, both for purposes of the
Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (b) Termination of
Relationship as a Service Provider. If an Optionee ceases to be a Service Provider, such Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent that the Option is vested on the
date of termination (but in no event later than the expiration of the term of the Option as set forth in the Option 

  
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Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) months following the Optionee’s termination. If, on the date of
termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time
specified by the Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

(c) Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s total and permanent
disability, as defined in Section 22(e)(3) of the Code, the Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested on the date of termination (but in no
event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the
Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not
exercise his or her Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
 (d) Death of Optionee. If an Optionee dies while a Service Provider, the Option may be exercised within such period of time as is specified in the Option Agreement (but in no event later than the
expiration of the term of such Option as set forth in the Option Agreement), by the Optionee’s designated beneficiary, provided such beneficiary has been designated prior to Optionee’s death in a form acceptable to the Administrator. If no
such beneficiary has been designated by the Optionee, then such Option may be exercised by the personal representative of the Optionee’s estate or by the person(s) to whom the Option is transferred pursuant to the Optionee’s will or in
accordance with the laws of descent and distribution. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, at the time of death,
the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option shall terminate,
and the Shares covered by such Option shall revert to the Plan. 
 11. Stock Awards. Stock Awards shall be subject to the
terms, conditions, and restrictions determined by the Administrator at the time the stock is awarded. The Administrator may require the recipient to sign an agreement as a condition of the award. The agreement may contain such terms, conditions,
representations and warranties as the Administrator may require. The certificates representing the Stock Awards shall bear such legends as shall be determined by the Administrator. 

12. Limited Transferability of Options and Stock Awards. Unless determined otherwise by the Administrator, neither Options nor
Stock Awards may be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or the laws of descent and distribution, and Options may be exercised during the lifetime of the Optionee, only by the Optionee.
If the Administrator in its sole discretion makes an Option or Stock Award transferable, such Option or Stock Award may only be transferred by (i) will, (ii) the laws of descent and distribution, (iii) instrument to an inter vivos or
testamentary trust in which the Option or Stock Award is to be 

  
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passed to beneficiaries upon the death of the Optionee, or (iv) gift to a member of Optionee’s immediate family (as such term is defined in Rule 16a-1(e) of the Exchange Act). In
addition, any transferable Option or Stock Award shall contain additional terms and conditions as the Administrator deems appropriate. 
 13. Adjustments Upon Changes in Capitalization, Merger or Change in Control. 
 (a) Changes in Capitalization. Subject to any required action by the shareholders of the Company, the number and type of Shares which have been authorized for issuance under the Plan but as to
which no Options or Stock Awards have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option or Stock Award, and the number and type of Shares covered by each outstanding Option and Stock Award issued
hereunder, as well as the price per Share covered by each such outstanding Option, shall be proportionately adjusted for any increase or decrease in the number or type of issued Shares 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 issued shares of Common Stock effected without receipt of consideration by the Company. The 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 Board, 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, type or price of Shares
subject to an Option or Stock Award. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Administrator shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an Optionee to have the right to exercise
his or her Option until fifteen (15) days prior to such transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not otherwise be exercisable. In addition, the Administrator may provide that any
Company repurchase option applicable to any Shares purchased upon exercise of an Option shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has
not been previously exercised, an Option will terminate immediately prior to the consummation of such proposed action. 
 (c)
Merger or Change in Control. In the event of a merger of the Company with or into another corporation, or a Change in Control, each outstanding Option shall be assumed or an equivalent option substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation. If the successor corporation in a merger or Change in Control refuses to assume or substitute for the Option, then the Optionee shall fully vest in and have the right to exercise his or her Option
as to all of the Optioned Stock, including Shares as to which it would not otherwise be vested or exercisable. If an Option becomes fully vested and exercisable in lieu of assumption or substitution in the event of a merger or Change in Control, the
Administrator shall notify the Optionee in writing or electronically that the Option shall be fully exercisable for a period of fifteen (15) days from the date of such notice, and this Option shall terminate upon the expiration of such period.
For the purposes of this paragraph, the Option shall be considered assumed if, following the merger or Change in Control, the Option confers the right to purchase or receive, for each Share of

  
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Optioned Stock subject to the Option immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or
Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding
Shares); provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide
for the consideration to be received upon the exercise of the Option, for each Share of Optioned Stock subject to the Option, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the merger or Change in Control. 
 14. Time of Granting Options and
Stock Awards. The date of grant of an Option or Stock Award shall, for all purposes, be the date on which the Administrator makes the determination granting such Option or Stock Award, or such later date as is determined by the Administrator.
Notice of the determination shall be given to each Service Provider to whom an Option or Stock Award is so granted within a reasonable time after the date of such grant. 
 15. Amendment and Termination of the Plan. 
 (a) Amendment and
Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Shareholder Approval. The
Board shall obtain shareholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan shall impair the rights of any Optionee, unless mutually agreed otherwise between the
Optionee and the Administrator, which agreement must be in writing and signed by the Optionee and the Company. Termination of the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to
Options and Stock Awards granted under the Plan prior to the date of such termination. 
 16. Conditions Upon Issuance of
Shares. 
 (a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an Option unless the exercise
of such Option and the issuance and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Option, the Administrator may require the person exercising
such Option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a
representation is required. 

  
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 17. Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to
issue or sell such Shares as to which such requisite authority shall not have been obtained. 
 18. Reservation of
Shares. The Company, during the term of this Plan, shall at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 

19. Shareholder Approval. The Plan shall be subject to approval by the shareholders of the Company within twelve (12) months
after the date the Plan is adopted. Such shareholder approval shall be obtained in the degree and manner required under Applicable Laws. 

  
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 FIRST AMENDMENT TO 
 CHANNELADVISOR CORPORATION 2001 STOCK PLAN 
 This First Amendment to the
ChannelAdvisor Corporation 2001 Stock Plan (this “Amendment”) has been approved by the Board of Directors and the shareholders of ChannelAdvisor Corporation and the effective date of this Amendment is October 8, 2001”

 Capitalized terms used herein and not otherwise defined shall have the meanings assigned in the ChannelAdvisor Corporation
2001 Stock Plan (the “Original Plan”). 
 The Original Plan is hereby amended by amending the first sentence of
Section 3 entitled “Stock Subject to Plan” to read in its entirety as follows: 
 Subject to the provisions of
Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is five million (5,000,000) Shares. 
 As amended hereby the Original Plan shall remain in full force and effect. 
 This
Amendment and all rights and obligations hereunder shall be construed in accordance with and governed under Applicable Laws. 

 SECOND AMENDMENT TO 
 CHANNELADVISOR CORPORATION 2001 STOCK PLAN 
 This Second Amendment to the
ChannelAdvisor Corporation 2001 Stock Plan, as amended by a First Amendment (this “Amendment”) has been approved by the Board of Directors and the shareholders of ChannelAdvisor Corporation and the effective date of this Amendment
is January 28, 2002: 
 Capitalized terms used herein and not otherwise defined shall have the meanings assigned in the
ChannelAdvisor Corporation 2001 Stock Plan dated June 28, 2001, as amended by a First Amendment dated October 8, 2001 (the “Plan”). 
 The Plan is hereby amended by amending the first sentence of Section 3 entitled “Stock Subject to Plan” to read in its entirety as follows: 

Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is
twelve million seventy-three thousand seven hundred fifty (12,073,750) Shares. 
 As amended hereby the Plan shall remain
in full force and effect. 
 This Amendment and all rights and obligations hereunder shall be construed in accordance with and
governed under Applicable Laws. 

 THIRD AMENDMENT TO 
 CHANNELADVISOR CORPORATION 2001 STOCK PLAN 
 This Third Amendment to the
ChannelAdvisor Corporation 2001 Stock Plan, as amended by each of a First Amendment and a Second Amendment, (this “Amendment”) has been approved by the Board of Directors and the stockholders of ChannelAdvisor Corporation and the
effective date of this Amendment is June 27, 2003: 
 Capitalized terms used herein and not otherwise defined shall have
the meanings assigned in the ChannelAdvisor Corporation 2001 Stock Plan dated June 28, 2001, as amended by a First Amendment dated October 8, 2001 and Second Amendment dated January 28, 2002 (the “Plan”). 

The Plan is hereby amended by amending the first sentence of Section 3 entitled “Stock Subject to Plan” to read in its
entirety as follows: 
 Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may
be issued under the Plan is sixteen million seventy-three thousand seven hundred fifty (16,073,750) Shares. 
 As amended
hereby the Plan shall remain in full force and effect. 
 This Amendment and all rights and obligations hereunder shall be
construed in accordance with and governed under Applicable Laws. 

 FOURTH AMENDMENT TO 
 CHANNELADVISOR CORPORATION 2001 STOCK PLAN 
 This Fourth Amendment to the
ChannelAdvisor Corporation 2001 Stock Plan, as amended by each of a First Amendment, Second Amendment and Third Amendment (this “Amendment”) has been approved by the Board of Directors and the stockholders of ChannelAdvisor
Corporation and the effective date of this Amendment is August 26, 2004: 
 Capitalized terms used herein and not otherwise
defined shall have the meanings assigned in the ChannelAdvisor Corporation 2001 Stock Plan dated June 28, 2001, as amended by a First Amendment dated October 8, 2001, a Second Amendment dated January 28,2002 (the
“Plan”), and a Third Amendment dated June 27, 2003: 
 The Plan is hereby amended by amending the
first sentence of Section 3 entitled “Stock Subject to Plan” to read in its entirety as follows: 
 Subject to the
provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is twenty-one million seventy-three thousand seven hundred fifty (21,073,750) Shares. 

As amended hereby the Plan shall remain in full force and effect. 

This Amendment and all rights and obligations hereunder shall be construed in accordance with and governed under Applicable Laws.

 FIFTH AMENDMENT 

TO THE 
 CHANNELADVISOR CORPORATION 

2001 STOCK PLAN 
 WHEREAS, CHANNELADVISOR CORPORATION, a Delaware corporation (the “Company”) established the Company’s 2001
Stock Plan (as amended, the “Plan”) by an original instrument adopted by the Company on June 28, 2001 and such Plan has been further amended through the date hereof; and 

WHEREAS, the Company now wishes to amend the Plan to increase to 26,073,750 shares the number of
shares of the Company’s Common Stock authorized for issuance thereunder; and 
 NOW
THEREFORE, effective immediately, the Plan is amended as follows: 
 I. The first sentence of
Section 3 (“Stock Subject to the Plan”) shall be amended and restated in its entirety to read as follows: 
  

	 	“Subject	to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is twenty-six million seventy-three thousand
seven hundred fifty (26,073,750) Shares.” 

 In all other respects the Plan remains the same. 

IN WITNESS WHEREOF, the Company has caused this Amendment to the Plan
to be executed this 20th day of August, 2005. 
  

			
	CHANNELADVISOR CORPORATION
		
	By:	 	/s/ M. Scot Wingo
		 	M. Scot Wingo
		 	President

 SIXTH AMENDMENT 

TO THE 
 CHANNELADVISOR CORPORATION 

2001 STOCK PLAN 
 WHEREAS, CHANNELADVISOR CORPORATION, a Delaware corporation (the “Company”) established the Company’s 2001
Stock Plan (as amended, the “Plan”) by an original instrument adopted by the Company on June 28, 2001 and such Plan has been further amended through the date hereof; and 

WHEREAS, the Company now wishes to amend the Plan to increase to 31,928,756 shares the number of
shares of the Company’s Common Stock authorized for issuance thereunder; and 
 NOW
THEREFORE, effective immediately, the Plan is amended as follows: 
 I. The first sentence of
Section 3 (“Stock Subject to the Plan”) shall be amended and restated in its entirety to read as follows: 

“Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan
is thirty one million nine hundred twenty-eight thousand seven hundred fifty-six (31,928,756) Shares.” 
 In all other
respects the Plan remains the same. 
 IN WITNESS WHEREOF,
the Company has caused this Amendment to the Plan to be executed this 26th day of April, 2007. 
  

			
	CHANNELADVISOR CORPORATION
		
	By:	 	/s/ S. Scott Alridge
		 	S. Scott Alridge
		 	Vice President, General Counsel and Secretary

 SEVENTH AMENDMENT 

TO THE 
 CHANNELADVISOR CORPORATION 

2001 STOCK PLAN 
 WHEREAS, CHANNELADVISOR CORPORATION, a Delaware corporation (the “Company”) established the Company’s 2001
Stock Plan (as amended, the “Plan”) by an original instrument adopted by the Company on June 28, 2001 and such Plan has been further amended through the date hereof; and 

WHEREAS, the Company now wishes to amend the Plan to increase to 41,928,756 shares the number of
shares of the Company’s Common Stock authorized for issuance thereunder; and 
 NOW
THEREFORE, effective immediately, the Plan is amended as follows: 
 I. The first sentence of
Section 3 (“Stock Subject to the Plan”) shall be amended and restated in its entirety to read as follows: 

“Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan
is forty one million nine hundred twenty-eight thousand seven hundred fifty-six (41,928,756) Shares.” 
 In all other
respects the Plan remains the same. 
 IN WITNESS WHEREOF,
the Company has caused this Amendment to the Plan to be executed this 24 day of February, 2009. 
  

			
	CHANNELADVISOR CORPORATION
		
	By:	 	/s/ S. Scott Alridge
		 	S. Scott Alridge
		 	 Vice President, General Counsel and Secretary

 EIGHTH AMENDMENT 

TO THE 
 CHANNELADVISOR CORPORATION 

2001 STOCK PLAN 
 WHEREAS, CHANNELADVISOR CORPORATION, a Delaware corporation (the “Company”) established the Company’s 2001
Stock Plan (as amended, the “Plan”) by an original instrument adopted by the Company on June 28, 2001 and such Plan has been further amended through the date hereof; and 

WHEREAS, the Company now wishes to amend the Plan to increase to 63,928,756 shares the number of
shares of the Company’s Common Stock authorized for issuance thereunder; and 
 NOW
THEREFORE, effective immediately, the Plan is amended as follows: 
 I. The first sentence of
Section 3 (“Stock Subject to the Plan”) shall be amended and restated in its entirety to read as follows: 

“Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan
is sixty-three million nine hundred twenty-eight thousand seven hundred fifty-six (63,928,756) Shares.” 
 In all
other respects the Plan remains the same. 
 IN WITNESS
WHEREOF, the Company has caused this Amendment to the Plan to be executed this 13th day of November, 2012. 
  

			
	CHANNELADVISOR CORPORATION
		
	By:	 	/s/ S. Scott Alridge
		 	S. Scott Alridge
		 	Vice President, General Counsel and SecretaryEX-10.13

 Exhibit 10.13 
 INCENTIVE STOCK OPTION AGREEMENT 
 Pursuant to the 

CHANNELADVISOR CORPORATION 
 2001 STOCK PLAN 
 This Incentive Stock Agreement (this
“Agreement”), is made and entered into as of [date] (“Grant Date”), by and between ChannelAdvisor Corporation, a Delaware corporation (the “Company”), and [name], an Employee of the
Company (“Optionee”). 
 W I T N E S S E T H: 

WHEREAS, the Company has adopted the ChannelAdvisor Corporation 2001 Stock Plan (the “Plan”) for the purpose of securing
for the Company and its shareholders the benefit of the incentive inherent in stock ownership by the employees of the Company and its affiliates who are largely responsible for the Company’s and its affiliates’ future growth and financial
success; and 
 WHEREAS, the Company desires to encourage Optionee to remain in the employment of the Company and to afford
Optionee the opportunity to obtain or to increase a proprietary interest in the Company on a favorable basis and, thereby, to have an opportunity to share in its success. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements hereinafter set forth, the parties mutually covenant and agree as follows: 

1. Subject to Plan. This Agreement is subject to the terms and conditions contained in the Plan, which is incorporated herein by
reference. Optionee represents that Optionee has received a copy of the Plan with this Agreement. All capitalized terms used herein that are not defined in this Agreement shall have the respective meanings ascribed to them in the Plan. In the event
of any conflict between the provisions of this Agreement and those of the Plan, the provisions of the Plan shall control. This Agreement is subject to interpretations, amendments, rules and regulations which may from time to time be promulgated by
the Committee administering the Plan and which are adopted pursuant to the Plan. 
 2. Grant of Option. Subject to the
terms and conditions set forth herein, the Company grants to Optionee, during the period commencing with the date of this Agreement and ending [date], unless terminated in accordance with Paragraph 4 or accelerated or terminated in accordance
with Paragraph 10 (the “Option Period”), the option to purchase from the Company (this “Option”), at a price of [amount] ($##) per share (the “Option Price”), [number] (##)
shares of the Company’s Common Stock (the “Shares”). The Option granted herein is in connection with and in furtherance of the Company’s compensatory benefit plan for participation of the Company’s employees,
consultants and directors and is intended to comply with the provisions of Rule 701 under the Securities Act. The Option granted herein is intended to be an “incentive stock option” under Section 422 of the Code. 

3. Exercise of Option 
 (a) The Option may be exercised, from time to time, during the Option Period, to purchase all or any portion of the number of Shares as follows: 

[insert vesting schedule] 

  
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 The maximum number of Shares that may be purchased during each time period specified above shall be reduced
by the number of Shares purchased prior to the beginning of such period, such that the cumulative maximum for each time period is not exceeded. 
 (b) Optionee may not purchase fewer than five hundred (500) Shares upon any single exercise of this Option, unless the number of Shares to be purchased at such time is the total number of Shares
remaining subject to this Option. Any exercise of less than the total number of Shares granted under this Option shall be deemed an exercise in part, and this Option may again be exercised at such time or times determined by Optionee, provided that
this Option is still exercisable at such times. 
 (c) Optionee shall exercise this Option by delivering to the Secretary of the
Company, on any business day, a written notice signed by Optionee which specifies the number of Shares to be purchased, together with payment of the Option Price as provided in Paragraph 5(a). 

(d) Optionee may not exercise this Option, in whole or in part, after the expiration or termination of the Option Period. 

4. Termination of Employment. The Option granted hereunder and the Option Period shall terminate upon the earlier of the end of
the originally-specified Option Period or ninety (90) days after termination of Optionee’s employment with the Company or a Parent or Subsidiary (an “Affiliate”) of the Company (termination of employment meaning cessation
of the employment relation between the Company and Optionee for any reason, including without limitation, termination by death, disability, retirement, for cause, without cause, voluntary or involuntary; termination shall not be deemed to have
occurred if Optionee changes employment from employment with the Company or a Parent or Subsidiary to employment with another Affiliate or the Company provided that Optionee is working at least fifty percent (50%) of the time for the Company or
an Affiliate), unless such termination of employment is due to either disability (within the meaning of Section 22(e)(3) of the Code), or to death, in which event this Option shall terminate on the earlier of the originally-specified end of the
Option Period or one (1) year following termination of Optionee’s employment due to such disability or death. Notwithstanding anything to the contrary contained in this Agreement, vesting of the Option shall terminate as of the date of
termination of Optionee’s employment. This Option may be exercised following termination of employment only as to that number of Shares as to which it was exercisable on the date of termination of employment under the provisions of Paragraph
3(a) of this Agreement. 
 5. Payment of Option Price and Related Taxes. 

(a) Optionee (or other person exercising this Option) shall make payment in full of the Option Price at the time this Option is
exercised, in U.S. dollars in cash or by certified or bank check. 
 (b) If and to the extent that Optionee (or other person
exercising this Option) recognizes taxable income as a result of the exercise of this Option, he or she shall pay the Company an amount equal to the federal, state and local withholding taxes, if any, on income so recognized within ten
(10) days of the exercise of the Option. 
 6. Issuance of Shares. 

(a) Within fifteen (15) business days after receiving notice of exercise and payment of the aggregate Option Price, and subject to
Optionee’s (i) payment or arrangement for payment of the 

  
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applicable taxes as specified in Paragraph 5(b), and (ii) execution of the Restricted Stock Agreement pursuant to Paragraph 7, below, the Company shall issue to Optionee the number of
Shares with respect to which this Option was exercised, and shall deliver to Optionee, or if applicable under the Restricted Stock Agreement, to the Escrow Agent, a certificate for such Shares. In no event shall any fractional Shares be issued under
this Agreement. 
 (b) Notwithstanding anything to the contrary contained in this Agreement, this Option may not be exercised if
at any time the Administrator determines it is necessary or desirable as a condition of, or in connection with, the issuance of the Shares that (i) the Shares be listed, registered or qualified upon any securities exchange or under any state or
federal law, or (ii) the consent or approval of any governmental authority be received. In no event may the Shares be issued, in whole or in part, unless such listing, registration, qualification, consent or approval has been effected or
obtained on terms acceptable to the Administrator. The inability of the Company to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance of any shares of its
Common Stock hereunder shall relieve the Company of any liability in respect of the nonissuance or sale of such Common Stock as to which such authority shall not have been obtained. Notwithstanding the foregoing, the Company shall not be required to
register under the Securities Act any Shares to be issued pursuant to exercise of the Option. 
 (c) Notwithstanding anything to
the contrary contained in this Agreement, if at any time specified herein for the issuance of shares to Optionee, any Applicable Law shall require either the Company or Optionee to take any action in connection with the Shares then to be issued, the
issuance of such Shares shall be deferred until such action shall have been taken. The Company shall be under no obligation to take such action and the Company shall have no liability whatsoever as a result of the non-issuance of such Shares as a
result of not taking such action, except that in such event the Company shall refund any consideration tendered in respect of the Option Price to the Optionee. 
 7. Agreements Upon Exercise. Optionee agrees, by exercising this Option, that simultaneously with each exercise of this Option, Optionee will execute a Restricted Stock Agreement, in substantially
the form of Exhibit A attached hereto, which provides for certain restrictions on the transfer of the Shares, which requires the Shares to be placed in escrow for a certain period of time and which requires that Optionee execute a Proxy in
favor of an officer of the Company. The Company shall not issue any Shares to Optionee until the Restricted Stock Agreement is executed. In the event Optionee fails to execute the Restricted Stock Agreement within thirty (30) days after
providing notice of exercise, the Company shall return to Optionee the Option Price paid and the notice of exercise shall be deemed void. 
 8. Transfer of Option. Optionee may only transfer this Option by will or by distribution through intestate succession, and no one other than Optionee may exercise this Option during Optionee’s
lifetime. No assignment or transfer of this Option or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever. This
Option shall terminate and be of no force or effect immediately upon any attempt to assign or transfer this Option other than by will or intestate succession. 
 9. Termination and Acceleration of Option. 
 (a) Anything contained herein
to the contrary notwithstanding, upon a sale or transfer of all or substantially all of the assets of the Company to another corporation (other than a wholly-owned subsidiary), person or entity, or upon a distribution by the Company of its assets as
a liquidating or partial liquidating dividend with respect to the Common Stock, or upon the happening of any other similar event affecting the Common Stock, then following a determination by the Board

  
 Page 3

 
to effect or proceed with such event or transaction, the Board or the Administrator, in its sole discretion and upon at least ten (10) days’ written notice to the holder of all or any
portion of this Option, may either (i) accelerate the exercisability of all or any portion of this Option to a date prior to the effectiveness of such event or transaction, notwithstanding any other provisions contained in this Agreement which
require this Option to be outstanding for a minimum amount of time prior to exercise, or (ii) accelerate the exercisability of all or any portion of this Option, as provided in the preceding clause (i), and provide that any unexercised portion
of this Option shall terminate as of the effective date of such event or transaction. 
 (b) Anything contained herein to the
contrary notwithstanding, the consummation of the Company’s sale of its Common Stock in a bona fide, firm commitment or best efforts underwriting pursuant to a registration statement under the Securities Act in which the gross proceeds to the
Company are not less than twenty million dollars ($20,000,000) (an “Initial Public Offering”), then following a determination by the Board to effect or proceed with an Initial Public Offering, the Board or the Committee, in its sole
discretion and upon at least ten (10) days’ written notice to the holder of all or any portion of this Option, may either (i) accelerate the exercisability of all or any portion of this Option to a date prior to the effectiveness of
such event or transaction, notwithstanding any other provisions contained in this Agreement which require this Option to be outstanding for a minimum amount of time prior to exercise, or (ii) accelerate the exercisability of all or any portion
of this Option, as provided in the preceding clause (i), and provide that the any unexercised portion of this Option shall terminate as of the effective date of the Initial Public Offering. 

(c) Anything contained herein to the contrary notwithstanding, in the event of a merger or consolidation of the Company with or into any
other corporation or organization as a result of which the holders of the voting capital stock of the Company prior to such merger or consolidation would receive or hold less than a majority of the shares of voting capital stock of the resulting or
surviving corporation or organization, then, the Board or Administrator, in its sole discretion and upon at least ten (10) days’ written notice to the holder of all or any portion of this Option, may either (a) accelerate the
exercisability of all or any portion of this Option to a date prior to the effectiveness of such event or transaction, notwithstanding any other provisions contained in this Agreement which require this Option to be outstanding for a minimum amount
of time prior to exercise, or (ii) accelerate the exercisability of all or any portion of this Option, as provided in the preceding clause (i), and provide that any unexercised portion of this Option shall terminate as of the effective date of
such merger or consolidation. 
 10. Optionee Not Shareholder. Neither Optionee, nor any person to whom an Option is
permitted to be transferred, shall be deemed to be a shareholder of the Company for any purpose, or have any rights of a holder with respect to any shares covered by this Option, unless this Option shall have been exercised and the Option Price paid
in the manner provided herein. Except as provided in Section 13 of the Plan, no adjustment shall be made for dividends or other rights where the record date is prior to the date of exercise and payment. 

11. No Effect. Neither this Option nor this Agreement shall affect in any way the right or power of the Company or its
shareholders to make or authorize any or all adjustments, recapitalization, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of bonds,
debentures, preferred or prior preference stocks ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets
or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

  
 Page 4

 12. Determination by Administrator. Subject to the provisions of Paragraph 13 hereof,
any dispute or disagreement which shall arise under, as a result of or pursuant to, this Agreement shall be determined by the Administrator in its absolute and uncontrolled discretion, and any such determination or any other determination by the
Administrator under or pursuant to this Agreement and any interpretation by the Administrator of the terms of this Agreement shall be final, binding and conclusive on all persons affected thereby. 

13. Board of Directors. The Board of Directors of the Company shall have the right, in its absolute and uncontrolled discretion,
to overrule or modify any determination or interpretation made by the Administrator as contemplated by Paragraph 12, and in such event the determinations or interpretations by the Board shall be final, binding and conclusive on all persons affected
thereby. 
 14. Amendment of the Plan. The Board of Directors may amend or modify the Plan at any time provided that no
such amendment shall, without the consent of Optionee, reduce the amount of any benefit or adversely change the terms and conditions of this Agreement. 
 15. Notices. Any notice which either party hereto may be required or permitted to give to the other shall be in writing, and may be delivered personally or by mail, postage prepaid, addressed as
follows: President of the Company, at 2701 Aerial Center Parkway, Morrisville, North Carolina 27560, or at such other address as the Company, by notice to Optionee, may designate in writing from time to time; to Optionee, at Optionee’s address
appearing below or at such other address as Optionee, by notice to the Company, may designate in writing from time to time. 

16. Entire Agreement; Rights and Interest. This Incentive Stock Option Agreement, including its exhibits, and the Plan pursuant to
which it was issued, constitute the entire agreement of the parties with respect to the matters covered hereby, and supersede any previous agreements, whether written or oral. Each party hereby stipulates and acknowledges that there are no other
understandings, expectations or agreements, either written or oral, respecting Optionee’s rights and entitlements as a shareholder or optionholder of the Company, including, without limitation, any understandings, expectations, or agreements
regarding any employment, compensation or other benefits, governance of the Company or the payment of dividends, except as expressly set forth in Optionee’s employment agreement with the Company, if any. Optionee hereby covenants and agrees,
for Optionee and for Optionee’s successors and assigns, that no such understandings, expectations or agreements which may hereafter arise shall be cognizable or enforceable unless the same shall be reduced to a writing signed by the parties to
be charged. 

  
 Page 5

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and Optionee has hereunto set Optionee’s hand and seal, all on the day and year first above written. 
 ChannelAdvisor Corporation 
 (CORPORATE SEAL) 

By:
                                         
                            

            Its: 

ATTEST: 
  

	
	
	 

 Secretary 
 OPTIONEE: 

                   
                                         
(SEAL) 
 [Name of Optionee] 

[Address] 

  
 Page 6

 Exhibit A to the Incentive 

Stock Option Agreement 
 CHANNELADVISOR CORPORATION 
 RESTRICTED STOCK AGREEMENT 

This Agreement, dated as of
                    ,             , is made by and between ChannelAdvisor
Corporation, a Delaware corporation (the “Company”) and                         
(“Employee”), a current or former employee of the Company, with respect to                     
(            ) shares of the Company’s common stock (the “Restricted Shares”) that Employee has purchased pursuant to the terms of an Incentive Stock
Option Agreement between the Employee and the Company dated as of                 , 200         (the
“Incentive Stock Option”). 
 WHEREAS, the Company has agreed to sell the Restricted Shares to Employee
pursuant to the terms of the Incentive Stock Option which provides, among other things, that Employee will agree to the terms of this Agreement; and 
 WHEREAS, Employee wishes to purchase the Restricted Shares pursuant to the terms of the Incentive Stock Option and this Agreement; 
 NOW THEREFORE, in consideration of the premises, the issuance of the Restricted Shares, and the mutual covenants and agreements set forth below, the parties hereby agree as follows: 

1. Transfer of Stock; Investment Intent. Except as otherwise provided in this Agreement, Employee shall not sell, transfer,
assign, convey, pledge, encumber or in any manner dispose of the Restricted Shares, either voluntarily or involuntarily. All stock certificates evidencing the Restricted Shares shall be restricted by a legend on each certificate in substantially
this form: 
 The transferring or encumbrance of the shares of stock represented by the within certificate is restricted under
the terms of a Restricted Stock Agreement dated     , 200      , a copy of which is on file at the principal office of the Company. 

The shares represented by this certificate have not been registered under the Securities Act of 1933. These shares have been acquired for
investment and not with a view to distribution or resale, and may not be mortgaged, pledged, hypothecated, or otherwise transferred without an effective registration statement for such shares under the Securities Act of 1933 or an opinion of counsel
for the corporation that registration is not required under such act. 
 Employee understands that transfer of the Restricted Shares will not be
made otherwise than in accordance with the legend and that such lack of transferability means that the economic risk of the investment may be substantial. 
 Employee represents and warrants that all of the Restricted Shares are being acquired for investment and not with a view to, or with any present intention of, selling or otherwise distributing the
Restricted Shares. Employee further represents that Employee is capable of evaluating the merits and risks of an investment in the Restricted Shares, has made such an evaluation and is able to bear the economic risk of an investment in the
Restricted Shares indefinitely. 

 2. Termination. Termination of employment shall mean cessation of the employment
relation between the Company and Employee for any reason, including without limitation, termination by death, disability, retirement, for cause, without cause, voluntary or involuntary. Termination for the purposes of this Agreement only shall be
the later of the date employment terminates or the date on which the Company learns of the termination; the date determined for purposes of this Agreement shall not be binding on the Company for determinations made of the termination date for other
purposes. Employment shall not be deemed as terminated if Employee is working at least fifty percent (50%) of the time for the Company or an Affiliate. 
 3. Option of Company Upon Termination of Employment. The Company shall have an immediate and automatic option on termination of Employee’s employment, without any action having to be taken on
the part of Employee to activate the option, to purchase from Employee or Employee’s estate all of the Restricted Shares obtained pursuant to this Agreement, including, without limitation, Restricted Shares acquired after termination of
Employee’s employment. The purchase price under this option shall be the price established in Paragraph 5. 
 4.
Involuntary Transfers. Upon the occurrence of the following events, the Company shall have an immediate and automatic option, without any action having to be taken on the part of Employee to activate the option, to purchase from Employee or
transferee, at the price set forth in Paragraph 5, all of the Restricted Shares obtained pursuant to this Agreement: 
 (a) the
death of Employee, provided that if Employee dies while employed by the Company, the provisions of Paragraph 3 of this Agreement will apply; 
 (b) An Event of Bankruptcy with respect to Employee defined as follows: (1) an adjudication or order for relief by a state or federal court that such person is bankrupt or insolvent or is subject to
Chapter 11 or any reorganization proceeding; or (2) filing by such person or a voluntary petition in any state or federal court to be adjudicated a bankrupt or to subject such person to Chapter 11 or any reorganization proceeding; or
(3) the filing by a third party of an involuntary petition in any state or federal court to have such person adjudicated bankrupt or insolvent, or for an order for relief, or to subject such person to the provisions of Chapter 11 or any
reorganization proceeding or to obtain the appointment of a receiver which is not dismissed within one hundred twenty (120) days of the date of the filing; or (4) the making by such person of a general assignment for the benefit of
creditors. 
 (c) An order or adjudication by any court that the spouse of Employee has acquired any right in the Restricted
Shares as a result of equitable distribution rights under any applicable law or statute; 
 (d) Any other event which adversely
and involuntarily affects Employee’s rights in the stock so that Employee would be required to transfer the Restricted Shares to a third party, and which is not otherwise provided for in this Agreement. 

  
 2 

 5. Purchase Price. If the Company exercises its purchase rights under Paragraph 3
or 4, the price per share shall be the fair market value of the Restricted Shares on the date of the event giving rise to the transfer. The Board shall establish the fair market value, and shall not take into account the impact on the valuation
of any restrictions on the Restricted Shares other than restrictions which by their terms will never lapse; and in general the Board shall value the shares at the highest of (i) one (1) times Book Value, (ii) one (1) times
Earnings, or (iii) the most recent offering price of shares sold by the Company, with such adjustments in such value as may be required to take into account events that have occurred since the date such Book Value, Earnings or offering price
was last determined or other factors deemed to be material to the Board for the purposes of determining fair market value. The Board may, however, use a different valuation process upon presentation to and acceptance by the Board that such process
produces a more accurate calculation of the fair market value of the Restricted Shares. For this purpose, “Book Value” shall mean the per-share net worth of the Company as of the last day of the immediately preceding fiscal year;
and “Earnings” shall mean the earnings per share of the Company for the immediately preceding fiscal year, all as determined by the Company’s accountants in accordance with generally accepted accounting principles applied on a
consistent basis with prior periods. 
 6. Exercise of Company’s Option. The Company may exercise its options
pursuant to Paragraphs 3 or 4 by giving Employee notice of its election within sixty (60) days of the latest of the date on which Employee’s employment is terminated, an event described in Paragraph 4 occurs, or Employee acquires the
Restricted Shares. The notice shall include a closing date, which date shall be within thirty (30) days of the date the notice is given. The Closing shall be at the principal office of the Company. Voting rights on the Restricted Shares shall
be vested in the Company as of the date the Company gives notice of its election to exercise the option. 
 At its election, the
Company may pay the full amount for the Restricted Shares in cash or by check at the closing. Alternatively, the Company may pay the amount due upon such other terms as the parties shall agree, or, if no agreement is reached, by paying ten percent
(10%) of the total price in cash or by check at the Closing, and by executing a promissory note for the balance. The promissory note shall provide for a payment of the balance in twelve (12) equal quarterly installments, the first
installment being due on the first day of the month following the third full month after closing. The unpaid principal balance of such note shall bear interest at the prime rate of Bank of America in Charlotte, North Carolina, on the date of closing
plus one percent (1%); provided, however, that the interest rate shall not be lower than the rate established by the Internal Revenue Service for the avoidance of imputed interest on such note at such time. Accrued interest shall be paid on the
dates on which installments of principal are due. The Company shall have the right to prepay any portion or all of the balance due under such note at any time without penalty provided that interest is paid on the amount being prepaid. 

At the closing, Employee or Employee’s legal representative (as the case may be) shall deliver to the Company the stock
certificate(s) evidencing the Restricted Shares to be redeemed, properly endorsed in blank with all transfer and excise taxes paid (and, where appropriate, with stamps affixed thereto); and in the event of death, Employee’s legal representative
shall also deliver 

  
 3 

 
copies of his or her letters testamentary or authority to act on behalf of the estate and a release or tax letter from the appropriate tax authorities stating that the Restricted Shares
transferred are not subject to taxes. Employee, or Employee’s representative if Employee is deceased, shall warrant that the Restricted Shares transferred are free and clear of all liens, encumbrances and claims. 

7. Right of First Refusal. Employee shall not transfer any Restricted Shares to any person, firm or corporation, unless Employee
shall have first made the offer to sell the Restricted Shares to the Company as described in this Paragraph 7, and such offer has not been accepted. 
 If Employee finds an individual or entity who wishes to acquire the Restricted Shares (the “Offeror”), Employee shall obtain from the Offeror a written offer to purchase (the
“Third-Party Offer”). The Third-Party Offer shall set forth the name of the Offeror, the number of shares to be transferred, the price per share and the other terms of the offer. Employee shall deliver a copy of the Third-Party
Offer to the Company. Upon receipt of the Third-Party Offer, the Company shall, without any other action on the part of Employee, have an option to acquire the shares of stock described in the Third-Party Offer at the same price and upon the same
terms and conditions as set forth in the Third-Party Offer. The Company shall have thirty (30) days after its receipt of the Third-Party Offer to elect to exercise its option to purchase the shares described in the Third-Party Offer; acceptance
must be for all offered shares. If the Company elects to exercise its option, the Closing shall be in accordance with the terms of Paragraph 6. If thirty (30) days after receipt of the Third-Party Offer by the Company, the Company has not
exercised its option, Employee may make a bona fide transfer to the prospective transferee named in the statement attached to the offer, but only in strict accordance with the price and terms stated therein. If Employee fails to make such transfer
within thirty (30) days following the expiration of the 30-day acceptance period described above, the Restricted Shares shall again become subject to all of the restrictions of this Agreement. Upon transfer to anyone other than the Company, the
Restricted Shares in the hands of such transferee shall no longer be subject to this Agreement. 
 Notwithstanding the
foregoing, nothing in this Paragraph 7 shall prevent the Employee from tendering the Restricted Shares in payment of the option price for the Company’s common stock upon exercise of the option granted under any stock option agreement between
the Employee and the Company, if such agreement permits payment of the exercise price by tender of shares. In such event, the rights granted to the Company under this Paragraph 7 shall not apply. 

8. Encumbrance of Shares. The Restricted Shares owned by Employee may not be pledged, hypothecated or otherwise encumbered during
the Escrow Period (as defined below) without the prior express written consent of the Company, which may be withheld for any reason or without reason. If Employee encumbers the Restricted Shares in violation of the foregoing, then the Company shall
have an additional right to repurchase the encumbered shares at the price set forth in Paragraph 5. Such right may be exercised by giving written notice to Employee. The repurchase shall be effective upon such notice and all rights of Employee as a
shareholder of the Company shall cease at such time. The closing shall be in accordance with the terms in Paragraph 6. 

  
 4 

 9. Payment of Taxes. Employee agrees that concurrently with the execution of this
Agreement, Employee will pay to the Company the amount of federal and state withholding due with respect to the Restricted Shares. The determination of the amount of withholding due shall be made by the Company and shall be binding on Employee. No
stock certificates shall be delivered on behalf of Employee until the payment of the withholding due is made. If the payment is not made within five (5) days of the date that the Company gives notice to Employee of the amount due, time being of
the essence, the Company shall have the option of declaring this Agreement and the offer to issue the Restricted Shares to Employee void, or the Company may arrange for withholding of all amounts due from Employee’s paycheck until
Employee’s obligation is satisfied. In addition, Employee agrees that concurrently with the sale or other transfer of the Restricted Shares before the earlier of (2) years after the date of the grant of the option pursuant to which
Employee acquired the Restricted Shares or one (1) year after the exercise of such option, Employee will pay to the company the amount of any federal and state withholding due with respect to the Restricted Shares so transferred. 

10. Irrevocable Proxy. Concurrently with the execution of this Agreement, Employee shall transfer the voting rights with respect
to the Restricted Shares to the President of the Company by the execution of an irrevocable proxy in substantially the form attached as Exhibit A, to remain in effect until the restrictions on the Restricted Shares are terminated pursuant to
Paragraph 13 (the “Proxy”). 
 11. Escrow. As security for the faithful performance of the terms of this
Agreement and to ensure the availability for delivery of Employee’s shares upon exercise of the purchase options and right of first refusal provided for in this Agreement, Employee agrees to deliver to and deposit with an escrow agent
designated by the Company (“Escrow Agent”), the certificate(s) representing the Restricted Shares, together with two (2) assignments separate from certificate duly endorsed (with date and number of shares blank) in the form
attached to this Agreement as Exhibit B; said documents are to be held by the Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Employee set forth in Exhibit C attached to this Agreement, which instructions
shall also be delivered to the Escrow Agent. “Escrow Period” shall mean the period beginning the date the Restricted Shares are received by the Employee and continuing to the date the restrictions on the Restricted Shares are
terminated pursuant to Paragraph 13. 
 12. Rights in Restricted Stock. Subject to the provisions of this Agreement, the
Proxy and the Joint Escrow Instructions, Employee shall exercise all rights and privileges of a shareholder of the Company with respect to the Restricted Shares. 
 13. Termination of Certain Rights and Obligations. The provisions of Paragraphs 3, 4, 7 and 8 shall terminate upon the consummation of the Company’s sale of its Common Stock to the general
public in an underwritten offering pursuant to a registration statement under the Securities Act of 1933, as amended, in which the net proceeds to the Company are not less than $20,000,000 (an “Initial Public Offering”). The Board
of Directors of the Company shall have the right, but not the obligation, to terminate all or any selected provisions of this Agreement upon the happening of any of the following: (i) simultaneously with the sale of at least ninety-five percent
(95%) of the 

  
 5 

 
outstanding shares of the Company to a third-party which is not a company related by ownership in any way to the Company; or (ii) simultaneously with the merger of the Company into another
company which is not a company related by ownership in any way to the Company and the Company is not the surviving entity; or (iii) simultaneously with the sale of all or substantially all of the assets of the Company. 

In no event shall Employee be required or requested to perform additional services for the Company, be subject to a salary adjustment, or
in any way be required or requested to provide consideration in the form of services for the cancellation of the restrictions pursuant to this Paragraph 13, it being the express intention of the Company that any such cancellation be in all
respects noncompensatory. 
 14. Specific Performance. Because of the unique character of the Restricted Shares, the
parties to this Agreement agree that the Company and its shareholders will be irreparably damaged in the event that this Agreement is not specifically enforced. Should any dispute arise concerning the sale or transfer of the Restricted Shares, an
injunction may be issued restraining any sale or transfer pending the determination of such controversy. In the event of any controversy concerning the right of the Company to purchase or of Employee or Employee’s estate to sell any of the
shares, such right or obligation shall be enforceable in a court of equity by a decree of specific performance. Such remedy shall, however, be in addition to any other remedies that the parties may have. 

Employee agrees that in the event of any violation of this Agreement, an action may be commenced by the Company for any such preliminary
and permanent injunctive relief and other equitable relief in any court of competent jurisdiction in the State of North Carolina or in any other court of competent jurisdiction. Employee hereby waives any objections on the grounds of improper
jurisdiction or venue to the commencement of an action in the State of North Carolina and agrees that effective service of process may be made upon him by mail under the notice provisions contained in Paragraph 16(b). 

15. No Contract of Employment. Nothing contained in this Agreement shall be deemed to require the Company to continue
Employee’s employment. Employee shall, except as otherwise provided in Employee’s employment agreement with the Company at all times be an employee-at-will of the Company and the Company may discharge Employee at any time for any reason,
with or without cause, and with or without severance compensation. From time to time, the Company may distribute employee manuals or handbooks, and officers or other representatives of the Company may make written or oral statements relating to the
Company’s policies and procedures. Such manuals, handbooks and statements are intended only for the general guidance of employees. No policies, procedures or statements of any nature by or on behalf of the Company (whether written or oral, and
whether or not contained in any formal employee manual or handbook) shall be construed to modify this Agreement. 

  
 6 

	16.	Miscellaneous. 

 (a)
Binding Effect. This Agreement shall be binding, not only upon the parties to this Agreement, but also on their heirs, executors, administrators, personal representatives, successors and assigns (including any transferee of a party to this
Agreement); and the parties agree, for themselves and their successors, assigns and representatives to execute any instrument which may be necessary legally to give effect to the terms and conditions of this Agreement. 

(b) Notices. All notices, requests and amendments under this Agreement, shall be in writing, and notices shall be deemed to have
been given when personally delivered or the next business day after being sent by overnight courier service addressed as follows: (i) if to the Company: 2701 Aerial Center Parkway, Morrisville, North Carolina 27560 Attention: President, or at
such other address as the Company shall designate by notice; (ii) if to Employee: to Employee’s address appearing below, or at such other address as Employee shall designate by notice. 

(c) Severability. The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other
provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted. 
 (d) Governing Law; Jurisdiction. This Agreement shall be governed by the internal laws of North Carolina. The parties hereby consent to the exclusive jurisdiction of the courts of Wake County,
North Carolina for purposes of adjudicating any issue hereunder. 
 (e) Amendment. Neither this Agreement nor any of the
terms and conditions set forth in this Agreement may be altered, or amended verbally, and any such alternation or amendment shall only be effective when reduced to writing and signed by each of the parties. 

(f) Stock Splits, etc. In the event that, as the result of a stock split or stock dividend or combination of shares or any other
change, or exchange for other securities, by reclassification, reorganization, merger, consolidation, recapitalization or otherwise, Employee shall, as the owner of Restricted Shares subject to restrictions hereunder, be entitled to new or
additional or different shares of stock or securities, the certificate or certificates for, or other evidences of, such new or additional or different shares or securities, shall also be imprinted with a legend as provided in Paragraph 1, be subject
to the Proxy described in Paragraph 10 and be deposited with the Escrow Agent in accordance with Paragraph 11 and all provisions of this Agreement relating to restrictions and lapse of restrictions shall be applicable to such new or additional or
different shares or securities to the extent applicable to the shares with respect to which they were distributed, and such new or additional or different shares or securities shall be deemed to be “Restricted Shares” for all
purposes hereof; provided, however, that if Employee shall receive rights, warrants or fractional interests in respect of any of such Restricted Shares, such rights or warrants may be held, exercised, sold or otherwise disposed of, and such
fractional interests may be settled, by Employee free and clear of the restrictions set forth in this Agreement. 
 (g)
Entire Agreement; Rights and Interest. This Agreement constitutes the entire agreement of the parties with respect to the matters covered hereby, and supersedes any previous agreements, whether written or oral. Each party hereby stipulates
and acknowledges that there are 

  
 7 

 
no other understandings, expectations or agreements, either written or oral, respecting Employee’s rights and entitlements as a shareholder of the Company, including, without limitation, any
understandings, expectations, or agreements regarding any employment, compensation or other benefits, governance of the Company or the payment of dividends, except as expressly set forth in Employee’s employment agreement with the Company.
Further, no such understandings, expectations or agreements which may hereafter arise shall be cognizable or enforceable unless the same shall be reduced to a writing signed by the parties to be charged. 

IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement effective the date and year first above written.

  

			
	ChannelAdvisor Corporation
		
	By:	 	 
		 	 Its:

		
		 	 
		 	[Name of Employee]
		 	[Address]

  
 8 

 Exhibit A to 
 Restricted Stock Agreement 
 IRREVOCABLE APPOINTMENT OF PROXY 

I, NAME, the undersigned shareholder of ChannelAdvisor Corporation, a Delaware corporation (the “Corporation”),
do hereby constitute and appoint the President of the Corporation as my proxy, with full power of substitution, for and on my behalf to attend all meetings of the shareholders of the Corporation and for the President to act, vote, and execute
consents and waivers, as fully and to the same extent and effect as I might do myself, with respect to                  shares of common stock of the Corporation,
represented by Stock Certificate number(s)                 , I have received on or about this date. 

This appointment of proxy is coupled with an interest and is irrevocable until the interest to which it is coupled is extinguished; and
until such time this appointment of proxy shall continue in full force and effect. 
 In the event that, as the result of a
stock split or stock dividend or combination of shares or any other change, or exchange for other securities, by reclassification, reorganization, merger, consolidation, recapitalization or otherwise, I should be entitled to new or additional or
different shares of stock or securities, such new or substitute shares or securities shall be subject to this proxy. 
 Dated: DATE OF
RSA 

                   
                                 [SEAL] 

NAME 

 Exhibit B 
 to Restricted Stock Agreement 
 ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED and pursuant to that certain Restricted Stock Agreement dated as of
                    , 200      , the undersigned hereby sells, assigns, and transfers unto
                        ,
                         (            )
shares of the common stock of ChannelAdvisor Corporation, a Delaware corporation, standing in the undersigned’s name on the books of said corporation represented by Certificate No.        herewith,
and does hereby irrevocably constitute and appoint Cooley LLP as attorney to transfer, solely for purposes of facilitating the exercise by the corporation of its rights set forth in the Restricted Stock Agreement to which this Assignment is attached
as Exhibit B, said stock on the books of the corporation, with full power of substitution in the premises. 
 Date:  

 

	
	
	 
	Signature
	
	 
	(Please Print Name)
	
	 
	Witness
	
	 
	(Please Print Name)

 Exhibit C 
 to the Restricted 
 Stock Agreement 

JOINT ESCROW INSTRUCTIONS 
 [Date] 
 Cooley LLP 
 One Freedom Square, Reston Town Center 
 11951 Freedom Drive 

Reston, VA 20190-5656 
 Dear Sir or Madam:

 As escrow agent for both ChannelAdvisor Corporation, a Delaware corporation (the “Company”), and the
undersigned owner of stock of the Company (“Shareholder”), you are authorized and directed to hold the documents delivered to you pursuant to the terms of the Restricted Stock Agreement (the “Agreement”), dated as
of ________, 200_, to which a copy of these Joint Escrow Instructions is attached as Exhibit C, in accordance with the following instructions: 
 1. Shareholder irrevocably authorizes the Company to deposit with you any certificates evidencing shares of stock of the Company, to be held by you under these instructions and any additions to or
substitutions for said certificates. Shareholder irrevocably constitutes and appoints you his or her attorney-in-fact and agent for the term of this escrow to execute with respect to such securities all documents necessary or appropriate to make
such securities negotiable and to complete the transaction described in these instructions. Subject to the restrictions in the Agreement and these instructions, Shareholder shall exercise all rights and privileges of a stockholder of the Company
while the stock is held by you. 
 2. In the event the Company or any assignee of the Company (referred to collectively as the
“Company”) exercises the purchase options set forth in Paragraph 3, 4, or 8 of the Agreement, the Company shall give to Shareholder and you a written notice in accordance with Paragraph 17 of the Agreement specifying the number
of shares of stock to be purchased, the purchase price, and the time for a closing. Shareholder and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said
notice. 
 3. In the event the Company exercises its right of first refusal pursuant to Paragraph 7 of the Agreement, the Company
shall give to you and Shareholder a written notice of the exercise, specifying the purchase price, the number of shares to be purchased, and a time for closing. Shareholder and the Company hereby irrevocably authorize and direct you to close the
transactions contemplated by such notice in accordance with the terms of the notice. 

  
 1 

 4. At a closing pursuant to Section 2 or 3 of these Instructions, you are directed
(a) to complete and date stock assignments necessary for the transfer in question, and (b) to deliver such stock assignment, together with the certificate evidencing the shares of stock to be transferred, to the Company against the
simultaneous delivery to you of the purchase price as contemplated in the Agreement for the number of shares of stock being purchased pursuant to the exercise of the purchase option(s) being exercised. In the event the Company does not purchase all
shares evidenced by the escrowed certificate, you shall also receive a new certificate for the remaining shares. In the event you have used all previously executed Assignments Separate from Certificate and a stock certificate is issued in the name
of Shareholder, Shareholder agrees to execute two new Assignments Separate from Certificate prior to receiving any of the proceeds from the Company’s exercise of its purchase option(s) or right of first refusal. 

5. If Shareholder gives notice that he or she wishes to sell stock to other than the Company pursuant to Paragraph 7 of the Agreement,
Shareholder shall provide you with written notice of the third party to whom the transfer is to be made, together with a copy of Shareholder’s notice to the Company required by Paragraph 7 of the Agreement, and either a copy of a notice from
the Company declining the rights of first refusal or a statement indicating that the applicable time period has passed after delivery of the notice to the Company without any response being given. You are entitled to rely on Shareholder’s
representation with respect to the Company’s response to the notice required by Paragraph 7 of the Agreement, and shall not be required to contact the Company to confirm this representation. If the Company fails to exercise its right of first
refusal, then you are authorized, upon receipt of the specified consideration and the other documentation required by this Paragraph, to deliver to the transfer agent the stock certificate and the Assignment Separate from Certificate endorsed so as
to permit the transfer agent to close the transaction on the part of the parties involved. 
 6. At the end of the Escrow Period,
you are authorized to deliver to Shareholder, the stock certificates and assignments separate from certificate in your possession pursuant to this Agreement. 
 7. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties. 
 8. You shall be obligated only for the performance of such duties as are specifically set forth in these instructions and may rely and shall be protected in relying or refraining from acting on any
instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do as escrow agent or as attorney-in-fact for Shareholder
while acting in good faith and in the exercise of your own good judgment, and any act done or omitted by you pursuant to the advice of an attorney shall be conclusive evidence of such good faith. 

  
 2 

 9. You are expressly authorized to disregard any and all warnings given by any of the
parties or by any other person or corporation, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order,
judgment or decree, you shall not be liable to any of the parties or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set
aside, vacated or found to have been entered without jurisdiction. 
 10. You shall not be liable in any respect on account of
the identity, authorities or rights of the executing or delivering or purporting to execute or deliver the Agreement or any documents or papers deposited or called for under these instructions. 

11. You shall not be liable for the outlawing of any rights under the statute of limitations with respect to these instructions or any
documents deposited with you. 
 12. You shall be entitled to employ such legal counsel and other experts as you may deem
necessary properly to advise you in connection with your obligations under these instructions, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation. Cost of such counsel shall be reimbursed by the party (as
between the Company and Shareholder) which does not prevail. 
 13. Your responsibilities as escrow agent shall terminate if you
shall resign by written notice to Shareholder and the Company. In the event of any such termination, the Company shall appoint a successor escrow agent; but failure of the Company to appoint a substitute shall not prevent your resignation at the
time indicated by you. 
 14. Shareholder and Company recognizes that Cooley LLP, the escrow agent, is also legal counsel to
ChannelAdvisor Corporation. Provided that Cooley LLP resigns as Escrow Agent with respect to Shareholder’s Restricted Shares, Shareholder agrees that he or she will not attempt to disqualify Cooley LLP from representation of the Company with
respect to any dispute related to the Restricted Shares. Shareholder understands that Cooley LLP is relying on this commitment by Shareholder and would not agree to serve as escrow agent unless such a commitment were first made by Shareholder.

 15. If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations
in respect of these instructions, the necessary parties to these instructions shall join in furnishing such instruments. 
 16.
It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the securities held by you under these instructions, you are authorized and directed to retain in your possession
without liability to anyone all or any part of said securities until such disputes shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after
the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

  
 3 

 17. Any notice required or permitted under these instructions shall be given in writing and
shall be deemed effectively given upon personal delivery or one business day after being sent by a reputable overnight courier service, addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses
as a party may designate by ten days’ advance written notice to each of the other parties: 
  

			
	CORPORATION:	 	ChannelAdvisor Corporation
		 	2701 Aerial Center Parkway
		 	Morrisville, North Carolina 27560
		 	Attn: Secretary
		 	
	SHAREHOLDER: 	 	
		 	
		 	
		 	
	ESCROW AGENT:	 	Cooley LLP
		 	One Freedom Square, Reston Town Center
		 	11951 Freedom Drive
		 	Reston, Virginia 20190-5656
		 	Attn: Ryan E. Naftulin, Esq.
		 	Facsimile: (703) 456-8100

 18. By signing these Joint Escrow Instructions, you become a party only for the purpose of the Joint
Escrow Instructions; you do not thereby become a party to the Agreement. 
 19. Capitalized terms used in this Agreement that are
not otherwise defined shall have the meanings assigned in the Agreement. 
 20. These Joint Escrow Instructions shall inure to
the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be binding upon the Shareholder, his or her heirs, executors, administrators, successors and assigns. 

21. These Joint Escrow Instructions shall be construed in accordance with and governed in all respects by the laws of the State of North
Carolina. 
 22. These Joint Escrow Instructions set forth the entire understanding between the parties with respect to the
subject matter of these instructions and may only be changed by agreement in writing executed by the parties. 

  
 4 

 IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed these Joint
Escrow Instructions as of the date first above written. 
  

	
	ChannelAdvisor Corporation
	
	By: _______________________________________
	 Its:

	
	 Shareholder: [Name]

	
	 
	(Signature)

  

	
	ACCEPTED AND AGREED TO:
	
	ESCROW AGENT: Cooley LLP
	
	By:_____________________________________
	 Title:

  
 5

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