Document:

ResMed Inc. 2009 Incentive Award Plan

 Exhibit 10.1 
 RESMED INC. 2009 INCENTIVE AWARD PLAN 
 ResMed Inc., a
Delaware corporation (the “Company”), maintains the ResMed Inc. 2009 Incentive Award Plan (the “Plan”). The Plan initially became effective on November 9, 2006 (the “Effective Date”), the date
upon which the Company’s stockholders approved the Plan. The Plan was amended and restated effective on October 1, 2008. The Plan was further amended on September 30, 2009, subject to the approval of the Company’s stockholders.

 The purpose of the Plan is to promote the success and enhance the value of the Company by linking the personal interests of
the members of the Board, Employees, and Consultants to those of the Company’s stockholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company’s stockholders. The
Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the successful conduct
of the Company’s operation is largely dependent. 
 ARTICLE I. 
 DEFINITIONS 
 Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates. 
 1.1 “Administrator” shall mean the entity that conducts the general administration of the Plan as provided in Article X.
With reference to the duties of the Committee under the Plan which have been delegated to one or more persons pursuant to Section 10.5, or as to which the Board has assumed, the term “Administrator” shall refer to such person(s)
unless the Committee has revoked such delegation. 
 1.2 “Award” shall mean an Option, a Restricted Stock
award, a Restricted Stock Unit award, a Performance Award, a Dividend Equivalents award, a Deferred Stock award, a Stock Payment award or a Stock Appreciation Right, which may be awarded or granted under the Plan (collectively,
“Awards”). 
 1.3 “Award Agreement” shall mean a written agreement, which shall contain such
terms and conditions with respect to an Award as the Administrator shall determine, which terms and conditions shall not be inconsistent with the terms of the Plan. 
 1.4 “Award Limit” shall mean one million five hundred thousand (1,500,000) shares of Common Stock, as adjusted pursuant to Section 11.3; provided, however, that each
share of Common Stock subject to an Award shall be counted as one share against the Award Limit. Solely with respect to Performance Awards granted pursuant to Section 8.2(b), “Award Limit” shall mean $3,000,000. 
 1.5 “Board” shall mean the Board of Directors of the Company. 

 1.6 “Change in Control” shall mean the occurrence of any of the following
events: 
 (a) a transaction or series of transactions (other than an offering of Stock to the general public through a
registration statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the
Company, any of its subsidiaries, an employee benefit plan maintained by the Company or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control
with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s
securities outstanding immediately after such acquisition; or 
 (b) During any 36-month period, individuals who, at the
beginning of such period, constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in Section 1.6(a) or
Section 1.6(c)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the
36-month period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 
 (c) The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or
business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets or stock of another entity, in
each case other than a transaction: 
 (i) Which results in the Company’s voting securities outstanding
immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company
or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”) directly or indirectly, at least a
majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 
 (ii) After which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group
shall be treated for purposes of this Section 1.6(c)(ii) as beneficially owning 50% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the
transaction; or 
 (d) The Company’s stockholders approve a liquidation or dissolution of the Company. 
 For purposes of subsection (a) above, the calculation of voting power shall be made as if the date of the acquisition were a record
date for a vote of the Company’s stockholders, and for purposes of subsection (c) above, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of the
Company’s stockholders. 
  

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 1.7 “Code” shall mean the Internal Revenue Code of 1986, as amended from
time to time. 
 1.8 “Committee” shall mean the Compensation Committee of the Board, or another committee or
subcommittee of the Board, appointed as provided in Section 10.1. 
 1.9 “Common Stock” shall mean the
common stock of the Company, par value $0.004 per share. 
 1.10 “Company” shall mean ResMed Inc., a
Delaware corporation. 
 1.11 “Consultant” shall mean any consultant or adviser if: (a) the consultant or
adviser is a natural person, (b) the consultant or adviser renders bona fide services to the Company or any Subsidiary; and (c) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities
in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities. 
 1.12 “Covered Employee” shall mean any Employee who is, or could be, a “covered employee” within the meaning of Section 162(m) of the Code. 
 1.13 “Deferred Stock” shall mean rights to receive Common Stock awarded under Article VIII of the Plan. 
 1.14 “Director” shall mean a member of the Board. 
 1.15 “Dividend Equivalent” shall mean a right to receive the equivalent value (in cash or Common Stock) of dividends paid
on Common Stock, awarded with respect to Full Value Awards pursuant to Article VIII of the Plan. 
 1.16 “DRO”
shall mean a domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended from time to time, or the rules thereunder. 
 1.17 “Effective Date” shall mean November 9, 2006 (the initial date the Plan was approved by the Company’s
stockholders). 
 1.18 “Employee” shall mean any officer or other employee (as defined in accordance with
Section 3401(c) of the Code) of the Company, or of any Subsidiary. 
 1.19 “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended from time to time. 
  

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 1.20 “Fair Market Value” shall mean, as of any date, the value of a share
of Common Stock determined as follows: 
 (a) If the Common Stock is listed on any established stock exchange (such as the New
York Stock Exchange, the NASDAQ Global Market and the NASDAQ Global Select Market) or any national market system, including without limitation any market system of The NASDAQ Stock Market, the value of a share of Common Stock shall be the closing
sales price for a share of Common Stock as quoted on such exchange or system for such date, or if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Common Stock on the last
preceding date for which such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (b) If the Common Stock is regularly quoted by a recognized securities dealer but closing sales prices are not reported, the value of a share of Common Stock shall be the mean of the high bid and low
asked prices for such date or, if there are no high bid and low asked prices for a share of Common Stock on the date in question, the high bid and low asked prices for a share of Common Stock on the last preceding date for which such information
exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 
 (c) If the
Common Stock is neither listed on an established stock exchange or a national market system nor regularly quoted by a recognized securities dealer, the value of a share of Common Stock shall be established by the Administrator in good faith.

 1.21 “Fiscal Year” shall mean the fiscal year of the Company. 
 1.22 “Full Value Award” shall mean any Award other than an Option, Stock Appreciation Right or other Award for which the
Holder pays the intrinsic value (whether directly or by forgoing a right to receive a payment from the Company). 
 1.23
“Holder” shall mean a person who has been granted or awarded an Award. 
 1.24 “Incentive Stock
Option” shall mean an option which conforms to the applicable provisions of Section 422 of the Code and which is designated as an Incentive Stock Option by the Administrator. 
 1.25 “Non-Employee Director” shall mean a member of the Board who is not an Employee. 
 1.26 “Non-Qualified Stock Option” shall mean an Option which is not designated as an Incentive Stock Option by the
Administrator. 
 1.27 “Option” shall mean a stock option granted under Article IV of the Plan. An Option
granted under the Plan shall, as determined by the Administrator, be either a Non-Qualified Stock Option or an Incentive Stock Option; provided, however, that Options granted to Non-Employee Directors and Consultants shall be Non-Qualified
Stock Options. 
 1.28 “Performance Award” shall mean a cash bonus, stock bonus or other performance or
incentive award that is paid in cash, Common Stock or a combination of both, awarded under Article VIII of the Plan. 
  

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 1.29 “Performance Criteria” shall mean the criteria (and adjustments) that
the Committee selects for an Award for purposes of establishing the Performance Goal or Performance Goals for a Performance Period, determined as follows: 
 (a) The Performance Criteria that will be used to establish Performance Goals are limited to the following, or increase or decrease in the following, alone or in combination: (i) net earnings (either
before or after (A) interest, (B) taxes, (C) depreciation and (D) amortization), (ii) gross or net sales or revenue, (iii) net income (either before or after taxes), (iv) operating income (either before or after
taxes), (v) cash flow or cash flow per share (including, but not limited to, operating cash flow and free cash flow and either before or after dividends), (vi) cash flow return on investment, (vii) return on assets or net assets,
(viii) return on capital (including, but not limited to, total return on capital and return on invested capital), (ix) return on stockholders’ equity, (x) total stockholder return, (xi) economic value added,
(xii) return on sales, (xiii) gross or net profit, cash or operating margin, (xiv) costs, (xv) funds from operations, (xvi) expense, (xvii) working capital, (xviii) earnings per share, (xix) price per share of
Common Stock or any other publicly-traded security of the Company, (xx) FDA or other regulatory body approval for commercialization of a product, (xxi) implementation or completion of critical projects, (xxii) market share,
(xxiii) debt, (xxiv) cash, (xxv) stockholder equity, (xxvi) factoring transactions, (xxvii) initiating or completing clinical studies or phases of clinical studies, (xxviii) initiating enrollment, completing enrollment
or enrolling particular numbers of subjects in clinical studies, (xxix) financing and other capital raising transactions (including sales of the Company’s equity or debt securities), (xxx) in-licensing and out-licensing of
intellectual property, (xxxi) third-party validation of any manufacturing process of the Company, any Subsidiary or any third-party manufacturer, (xxxii) sales or licenses of assets (including, but not limited to, intellectual property)
and (xxxiii) manufacturing yields, any of which may be measured either in absolute terms or as compared to any incremental increase or decrease or as compared to the performance of one or more other companies. 
 (b) The Committee may, in its discretion, at the time of grant or within the time prescribed by Section 162(m) of the Code, specify in
the Award that one or more objectively determinable adjustments shall be made to one or more of the Performance Goals. Such adjustments may include one or more of the following: (i) items related to a changes in applicable laws, regulations,
accounting principles, or business conditions; (ii) items relating to financing activities; (iii) expenses for restructuring or productivity initiatives; (iv) other non-operating items; (v) items related to acquisitions;
(vi) items attributable to the business operations of any entity acquired by the Company during the Performance Period; (vii) items related to the disposal of a business or segment of a business; (viii) items related to any unusual or
extraordinary corporate item, transaction, event, or development, or (ix) items related to discontinued operations that do not qualify as a segment of a business under United States generally accepted accounting principles
(“GAAP”). 
 1.30 “Performance Goals” shall mean, for a Performance Period, the goals
established in writing by the Committee for the Performance Period based upon the Performance Criteria. Depending on the Performance Criteria used to establish such Performance Goals, the Performance Goals may be expressed in terms of overall
Company performance or the performance of a product, division, business unit, or an individual. The achievement of each Performance Goal and adjustments thereto shall be determined in accordance with generally accepted accounting principles to the
extent applicable. 
  

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 1.31 “Performance Period” shall mean one or more periods of time, which may
be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Holder’s right to, and the payment of, a Performance Award.

 1.32 “Plan” shall mean the ResMed Inc. 2009 Incentive Award Plan, as the same may be further amended or
restated from time to time. 
 1.33 “Restricted Stock” shall mean Common Stock awarded under Article VII of the
Plan. 
 1.34 “Restricted Stock Units” shall mean rights to receive Common Stock awarded under Article VIII of
the Plan. 
 1.35 “Rule 16b-3” shall mean Rule 16b-3 promulgated under the Exchange Act, as such Rule may be
amended from time to time. 
 1.36 “Securities Act” shall mean the Securities Act of 1933, as amended from time
to time. 
 1.37 “Stock Appreciation Right” or “SAR” shall mean a stock appreciation right
granted under Article IX of the Plan. 
 1.38 “Stock Payment” shall mean: (a) a payment in the form of
shares of Common Stock, or (b) an option or other right to purchase shares of Common Stock, as part of a deferred compensation arrangement, made in lieu of all or any portion of the compensation, including without limitation, salary, bonuses,
commissions and directors’ fees, that would otherwise become payable to a Employee, Non-Employee Director or Consultant in cash, awarded under Article VIII of the Plan. 
 1.39 “Subsidiary” shall mean any entity (other than the Company), whether domestic or foreign, in an unbroken chain of
entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than fifty percent (50%) of the total
combined voting power of all classes of securities or interests in one of the other entities in such chain. 
 1.40
“Subsidiary Corporation” shall mean any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing fifty
percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 1.41 “Substitute Award” shall mean an Option granted under this Plan upon the assumption of, or in substitution for, outstanding equity awards previously granted by a company or other entity in connection with a corporate
transaction, such as a merger, combination, consolidation or acquisition of property or stock; provided, however, that in no event shall the term “Substitute Award” be construed to refer to an award made in connection with the
cancellation and repricing of an Option or Stock Appreciation Right. 
  

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 1.42 “Termination of Consultancy” shall mean the time when the engagement
of a Holder as a Consultant to the Company or a Subsidiary is terminated for any reason, with or without cause, including, without limitation, by resignation, discharge, death or retirement, but excluding terminations where there is a simultaneous
commencement of employment with the Company or any Subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Consultancy, including, without limitation, the question
of whether a Termination of Consultancy resulted from a discharge for cause. Notwithstanding any other provision of the Plan, the Company or any Subsidiary has an absolute and unrestricted right to terminate a Consultant’s service at any time
for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in writing. 
 1.43
“Termination of Directorship” shall mean the time when a Holder who is a Non-Employee Director ceases to be a Director for any reason, including, without limitation, a termination by resignation, failure to be elected, death or
retirement. The Administrator, in its sole and absolute discretion, shall determine the effect of all matters and questions relating to Termination of Directorship with respect to Non-Employee Directors. 
 1.44 “Termination of Employment” shall mean the time when the employee-employer relationship between a Holder and the
Company or any Subsidiary is terminated for any reason, with or without cause, including, without limitation, a termination by resignation, discharge, death, disability or retirement; but excluding: (a) terminations where there is a
simultaneous reemployment or continuing employment of a Holder by the Company or any Subsidiary, and (b) terminations which are followed by the simultaneous establishment of a consulting relationship by the Company or a Subsidiary with the
former employee. The Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Employment, including, without limitation, the question of whether a Termination of Employment
resulted from a discharge for cause; provided, however, that, with respect to Incentive Stock Options, unless the Administrator otherwise provides in the terms of the Award Agreement or otherwise, a leave of absence, change in status from an
employee to an independent contractor or other change in the employee-employer relationship shall constitute a Termination of Employment if, and to the extent that, such leave of absence, change in status or other change interrupts employment for
the purposes of Section 422(a)(2) of the Code and the then applicable regulations and revenue rulings under said Section. 
 1.45 “Termination of Service” shall mean the time when a Holder experiences a Termination of Consultancy, a Termination of Directorship or a Termination of Employment, as applicable. 
 ARTICLE II. 
 SHARES SUBJECT TO PLAN 
 2.1 Shares Subject to Plan. 
 (a) Subject to Section 11.3 and Section 2.1(b), the aggregate number of shares of Common Stock that may be issued or transferred
pursuant to Awards under the restated Plan shall be equal to eleven million four hundred sixty thousand eight hundred twenty-five (11,460,825) shares, representing an increase of one million five hundred sixty thousand eight hundred twenty-five
shares (1,560,825) from the amounts previously authorized. The aggregate number of shares of Common Stock available for grant under the Plan shall be reduced by two (2) shares for each share of Common Stock granted subject to any Full
Value Award and shall be reduced by one (1) share for each share of Common Stock granted subject to any Award that is not a Full Value Award. 
  

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 (b) To the extent that an Award terminates, expires, lapses or is forfeited for any reason,
any shares of Common Stock then subject to such Award shall again be available for grant pursuant to the Plan; provided, however, that the number of shares that shall again be available for grant pursuant to the Plan shall be increased by two
(2) shares for each share of Common Stock subject to a Full Value Award at the time such Full Value Award terminates, expires, lapses or is forfeited for any reason. To the extent permitted by applicable law or any exchange rule, shares of
Common Stock issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or any Subsidiary, and all Substitution Awards, shall not be counted against shares of Common Stock
available for grant pursuant to this Plan. Further, available shares under a stockholder approved plan of an entity acquired by the Company or any Subsidiary (as appropriately adjusted to reflect the acquisition transaction using the exchange ratio
or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under
the Plan and shall not be counted against shares of Common Stock available for grant pursuant to this Plan, subject to applicable law and exchange rules. If any shares of Restricted Stock are surrendered by the Holder or repurchased by the Company
pursuant to Section 7.4 or 7.5 hereof, such shares may again be granted or awarded hereunder, subject to the limitations of Section 2.1(a). Shares of Common Stock withheld by the Company or delivered to the Company in payment of the
exercise price or tax withholding obligations of any Award and shares of Common Stock subject to a Stock Appreciation Right that are not issued in connection with the stock settlement of such Stock Appreciation Right shall not be available for grant
under the Plan. Shares of Common Stock reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Options shall not be available for grant under the Plan. The payment of Dividend Equivalents in cash in
conjunction with any outstanding Awards shall not be counted against the shares available for issuance under the Plan. Notwithstanding the provisions of this Section 2.1(b), no shares of Common Stock may again be optioned, granted or awarded if
such action would cause an Incentive Stock Option to fail to qualify as an incentive stock option under Section 422 of the Code. 
 2.2 Stock Distributed. Any Common Stock distributed pursuant to an Award shall consist, in whole or in part, of authorized and unissued Common Stock, shares of Common Stock held in treasury or shares of Common Stock purchased on the
open market. 
 2.3 Limitation on Number of Shares Subject to Awards. Notwithstanding any provision in the Plan to the
contrary, and subject to Article XI, the maximum number of shares of Common Stock with respect to one or more Awards that may be granted to any one individual during any calendar year shall not exceed the Award Limit; provided, however, that
in the year of initial hiring of an Employee, the maximum number of shares of Common Stock with respect to one or more Awards that may be granted to such Employee during such year of initial hiring shall not exceed 150% of the Award Limit. To the
extent required by Section 162(m) of the Code, shares subject to Awards which are canceled shall continue to be counted against the Award Limit. 
  

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 ARTICLE III. 
 GRANTING OF AWARDS 
 3.1 Award Agreement. Each
Award shall be evidenced by an Award Agreement. Award Agreements evidencing Awards intended to qualify as performance-based compensation (as described in Section 162(m)(4)(C) of the Code) shall contain such terms and conditions as may be
necessary to meet the applicable provisions of Section 162(m) of the Code. Award Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 422 of
the Code. 
 3.2 Provisions Applicable to Covered Employees. 
 (a) The Committee, in its discretion, may determine whether an Award is to qualify as performance-based compensation (as described in
Section 162(m)(4)(C) of the Code). 
 (b) Notwithstanding anything in the Plan to the contrary, the Committee may grant any
Award to a Covered Employee, including Restricted Stock the restrictions with respect to which lapse upon the attainment of specified Performance Goals and any performance or incentive award described in Article VIII that vests or becomes
exercisable or payable upon the attainment of one or more specified Performance Goals. 
 (c) To the extent necessary to comply
with the performance-based compensation requirements of Section 162(m)(4)(C) of the Code, with respect to any Award granted under Articles VII and VIII which may be granted to one or more Covered Employees, no later than ninety (90) days
following the commencement of any Fiscal Year in question or any other designated fiscal period or period of service (or such earlier time as may be required or permitted by Section 162(m) of the Code), the Committee shall, in writing,
(i) designate one or more Covered Employees, (ii) select the Performance Criteria (including any adjustments) applicable to the Fiscal Year or other designated fiscal period or period of service, (iii) establish the various
performance targets, in terms of an objective formula or standard, and amounts of such Awards, as applicable, which may be earned for such Fiscal Year or other designated fiscal period or period of service, and (iv) specify the relationship
between Performance Criteria and the performance targets and the amounts of such Awards, as applicable, to be earned by each Covered Employee for such Fiscal Year or other designated fiscal period or period of service. Following the completion of
each Fiscal Year or other designated fiscal period or period of service, the Committee shall certify in writing whether the applicable performance targets have been achieved for such Fiscal Year or other designated fiscal period or period of
service. In determining the amount earned by a Covered Employee, the Committee shall have the right to reduce (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may
deem relevant to the assessment of individual or corporate performance for the Fiscal Year or other designated fiscal period or period of service. 
 (d) Furthermore, notwithstanding any other provision of the Plan, any Award which is granted to a Covered Employee and is intended to qualify as performance-based compensation (as described in
Section 162(m)(4)(C) of the Code) shall be subject to any additional limitations set forth in Section 162(m) of the Code (including any amendment to Section 162(m) of the Code) or any regulations or rulings issued thereunder that are
requirements for qualification as performance-based compensation (as described in Section 162(m)(4)(C) of the Code), and the Plan shall be deemed amended to the extent necessary to conform to such requirements. 
  

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 3.3 Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan, the Plan, and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under
Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan and Awards granted or awarded
hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
 3.4 At-Will
Employment. Nothing in the Plan or in any Award Agreement hereunder shall confer upon any Holder any right to continue in the employ of, or as a Consultant for, the Company or any Subsidiary, or as a Director of the Company, or shall interfere
with or restrict in any way the rights of the Company and any Subsidiary, which rights are hereby expressly reserved, to discharge any Holder at any time for any reason whatsoever, with or without cause, except to the extent expressly provided
otherwise in a written agreement between the Holder and the Company and any Subsidiary. 
 3.5 Foreign Laws.
Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in other countries in which the Company or its Subsidiaries operate or have Employees, Non-Employee Directors or Consultants, or in order to comply with the
listing standards of any foreign stock exchange on which the Company’s shares are listed or traded, the Administrator, in its discretion, shall have the power and authority to: (i) determine which Subsidiaries shall be covered by the Plan;
(ii) determine which Employees, Non-Employee Directors or Consultants outside the United States are eligible to participate in the Plan; (iii) modify the terms and conditions of any Awards to comply with applicable foreign laws or listing
requirements of any such foreign stock exchange; (iv) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable (any such subplans and/or modifications shall be
attached to this Plan as appendices); provided, however, that no such subplans and/or modifications shall increase the share limitation contained in Section 2.1 of the Plan; and (v) take any action, before or after an Award is made,
that it deems advisable to obtain approval or comply with any necessary local governmental regulatory exemptions or approvals or listing requirements of any such foreign stock exchange. Notwithstanding the foregoing, the Administrator may not take
any actions under this Section 3.5 that would violate the Code, any applicable federal, state or foreign securities law or governing statute or any other applicable law or that would require prior stockholder approval (until such approval was
obtained). 
 3.6 Awards in Lieu of Cash Compensation. Subject to compliance with Section 409A of the Code, Awards
may be granted under the Plan to Employees and Consultants in lieu of cash bonuses which would otherwise be payable to such Employees and Consultants, and to Non-Employee Directors in lieu of directors’ fees which would otherwise be payable to
such Non-Employee Directors, pursuant to such policies which may be adopted by the Administrator from time to time. 
  

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 ARTICLE IV. 
 GRANTING OF OPTIONS TO EMPLOYEES, 
 CONSULTANTS AND
NON-EMPLOYEE DIRECTORS 
 4.1 Eligibility. Each Employee, Consultant and Non-Employee Director selected by the
Administrator shall be eligible to be granted an Option. 
 4.2 Disqualification for Stock Ownership. No person may be
granted an Incentive Stock Option under the Plan if such person, at the time the Incentive Stock Option is granted, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any then existing
Subsidiary Corporation or parent corporation (as defined in Section 424(e) of the Code) unless such Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code. 
 4.3 Qualification of Incentive Stock Options. No Incentive Stock Option shall be granted to any person who is not an Employee of the
Company or a Subsidiary Corporation. 
 4.4 Granting of Options to Employees and Consultants. 
 (a) The Administrator shall from time to time, in its discretion, and, subject to applicable limitations of the Plan: 
 (i) Select from among the Employees or Consultants (including Employees or Consultants who have previously received Awards
under the Plan) such of them as in its opinion should be granted Options; 
 (ii) Subject to Section 2.3,
determine the number of shares to be subject to such Options granted to the selected Employees or Consultants; 
 (iii) Subject to Section 4.3, determine whether such Options are to be Incentive Stock Options or Non-Qualified Stock Options and whether such Options are to qualify as performance-based compensation (as described in
Section 162(m)(4)(C) of the Code); and 
 (iv) Determine the terms and conditions of such Options, which
terms and conditions shall not be inconsistent with the terms of the Plan. 
 (b) Upon the selection of an Employee or
Consultant to be granted an Option, the Administrator shall instruct the Secretary of the Company to issue the Option and may impose such conditions on the grant of the Option as it deems appropriate. 
 (c) Any Incentive Stock Option granted under the Plan may be modified by the Administrator, with the consent of the Holder, to disqualify
such Option from treatment as an “incentive stock option” under Section 422 of the Code. 
  

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 4.5 Granting of Options to Non-Employee Director. The Administrator shall from time
to time, in its discretion, and subject to applicable limitations of the Plan: 
 (a) Select from among the Non-Employee
Directors (including Non-Employee Directors who have previously received Awards under the Plan) such of them as in its opinion should be granted Options; 
 (b) Subject to Section 2.3, determine the number of shares to be subject to such Options granted to the selected Non-Employee Directors; and 
 (c) Determine the terms and conditions of such Options, which terms and conditions shall not be inconsistent with the terms of the Plan.

 ARTICLE V. 
 TERMS OF OPTIONS 
 5.1 Option Price. The price per share of Common
Stock subject to each Option granted to Employees, Non-Employee Directors and Consultants shall be set by the Administrator; provided, however, that: 
 (a) Such price shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date the Option is granted; and 
 (b) In the case of Incentive Stock Options granted to an individual then owning (within the meaning of Section 424(d) of the Code) more
than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary Corporation or parent corporation thereof (as defined in Section 424(e) of the Code), such price shall not be less than 110% of the Fair Market
Value of a share of Common Stock on the date the Option is granted (or the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code). 
 5.2 Option Term. The term of an Option granted to an Employee, Non-Employee Director or Consultant shall be set by the Administrator
in its discretion; provided, however, that the term shall not be more than seven (7) years from the date the Option is granted, or five (5) years from the date the Option is granted if the Option is an Incentive Stock Option granted
to an individual then owning (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary Corporation or parent corporation thereof (as defined in
Section 424(e) of the Code). Except as limited by requirements of Section 409A or Section 422 of the Code and regulations and rulings thereunder, the Administrator may extend the term of any outstanding Option in connection with any
Termination of Service of the Holder, or amend any other term or condition of such Option relating to such a Termination of Service. 
 5.3 Option Vesting. 
 (a) The period during which the right to exercise, in whole or in part, an Option vests in
the Holder shall be set by the Administrator and the Administrator may determine that an Option may not be exercised in whole or in part for a specified period after it is granted. At any time after grant of an Option, the Administrator may, in its
discretion and subject to whatever terms and conditions it selects, accelerate the period during which an Option vests. 
  

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 (b) No portion of an Option granted to an Employee, Non-Employee Director or Consultant
which is unexercisable at Termination of Service shall thereafter become exercisable, except as may be otherwise provided by the Administrator either in the Award Agreement or by action of the Administrator following the grant of the Option.

 (c) To the extent that the aggregate fair market value of stock with respect to which “incentive stock options”
(within the meaning of Section 422 of the Code, but without regard to Section 422(d) of the Code) are exercisable for the first time by a Holder during any calendar year under the Plan, and all other plans of the Company and any Subsidiary
Corporation or parent corporation thereof (as defined in Section 424(e) of the Code) exceeds $100,000, the Options shall be treated as Non-Qualified Stock Options to the extent required by Section 422 of the Code. The rule set forth in the
preceding sentence shall be applied by taking Options and other “incentive stock options” into account in the order in which they were granted. For purposes of this Section 5.3(c), the fair market value of stock shall be determined as
of the time the Option or other “incentive stock options” with respect to such stock is granted. 
 5.4 Substitute
Awards. Notwithstanding the foregoing provisions of this Article V to the contrary, in the case of an Option that is granted upon the assumption of, or in substitution for, outstanding equity awards previously granted by a company or other
entity in connection with a corporate transaction, such as a merger, combination, consolidation or acquisition of property or stock, the price per share of the shares subject to such Option may be less than the Fair Market Value per share on the
date of grant, provided, that the excess of: (a) the aggregate Fair Market Value (as of the date such Substitute Award is granted) of the shares subject to the Substitute Award, over (b) the aggregate exercise price thereof
does not exceed the excess of: (x) the aggregate fair market value (as of the time immediately preceding the transaction giving rise to the Substitute Award, such fair market value to be determined by the Administrator) of the shares of
the predecessor entity that were subject to the grant assumed or substituted for by the Company, over (y) the aggregate exercise price of such shares, as determined in compliance with Section 409A of the Code. 
 ARTICLE VI. 
 EXERCISE OF OPTIONS 
 6.1 Partial Exercise. An exercisable Option may be exercised in whole or in part.
However, an Option shall not be exercisable with respect to fractional shares and the Administrator may require that, by the terms of the Option, a partial exercise be with respect to a minimum number of shares. 
 6.2 Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following to
the Secretary of the Company, or such other person or entity designated by the Administrator, or his, her or its office, as applicable: 
 (a) A written notice complying with the applicable rules established by the Administrator stating that the Option, or a portion thereof, is to be exercised. Such rules may provide that for administrative
convenience or compliance with applicable laws an Option may not be exercised during such period as is specified in advance by the Administrator. The notice shall be signed by the Holder or other person then entitled to exercise the Option or such
portion of the Option. 
  

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 (b) Such representations and documents as the Administrator, in its discretion, deems
necessary or advisable to effect compliance with all applicable provisions of the Securities Act and any other federal, state or foreign securities laws or regulations. The Administrator may, in its discretion, also take whatever additional actions
it deems appropriate to effect such compliance including, without limitation, placing legends on share certificates and issuing stop-transfer notices to agents and registrars; 
 (c) In the event that the Option shall be exercised pursuant to Section 11.1 by any person or persons other than the Holder,
appropriate proof of the right of such person or persons to exercise the Option; and 
 (d) Full cash payment to the Secretary
of the Company for the shares with respect to which the Option, or portion thereof, is exercised. However, the Administrator may, in its discretion, allow such payment to be made, in whole or in part, (i) through the delivery (actual or
constructive through attestation) of shares of Common Stock with a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof; (ii) through the surrender of shares of Common Stock
then issuable upon exercise of the Option having a Fair Market Value on the date of Option exercise equal to the aggregate exercise price of the Option or exercised portion thereof; (iii) through the delivery of property of any kind which
constitutes good and valuable consideration; (iv) through the delivery of a notice that the Holder has placed a market sell order with a broker with respect to shares of Common Stock then issuable upon exercise of the Option, and the broker
timely pays a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; or (v) through any combination of the consideration provided in the foregoing subparagraphs (i), (ii), (iii) and
(iv); provided, however, that the payment in the manner prescribed in the preceding paragraphs shall not be permitted to the extent that the Administrator determines that payment in such manner shall result in an extension or maintenance of
credit, an arrangement for the extension of credit, or a renewal or an extension of credit in the form of a personal loan to or for any Director or executive officer of the Company that is prohibited by Section 13(k) of the Exchange Act or
other applicable law. 
 6.3 Conditions to Issuance of Stock Certificates. The Company shall not be required to issue or
deliver any certificate or certificates for shares of stock purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 
 (a) The admission of such shares to listing on all stock exchanges and quotation systems on which such class of stock is then listed or
traded; 
 (b) The completion of any registration or other qualification of such shares under any local, state, federal or
foreign law, or under the rulings or regulations of the Securities and Exchange Commission or any other local, state, federal or foreign governmental regulatory body which the Administrator shall, in its discretion, deem necessary or advisable;

 (c) The obtaining of any approval or other clearance from any local, state, federal or foreign governmental agency which the
Administrator shall, in its discretion, determine to be necessary or advisable; 
  

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 (d) The lapse of such reasonable period of time following the exercise of the Option as the
Administrator may establish from time to time for reasons of administrative convenience; and 
 (e) The receipt by the Company
of full payment for such shares, including payment of any applicable withholding tax, which in the discretion of the Administrator may be in any of the permissible forms of consideration specified under Section 6.2(d). 
 6.4 Rights as Stockholders. Holders shall not be, nor have any of the rights or privileges of, stockholders of the Company in respect
of any shares purchasable upon the exercise of any part of an Option unless and until certificates representing such shares have been issued by the Company to such Holders. 
 6.5 Ownership and Transfer Restrictions. The Administrator, in its discretion, may impose such restrictions on the ownership and
transferability of the shares purchasable upon the exercise of an Option as it deems appropriate. Any such restriction shall be set forth in the respective Award Agreement and may be referred to on the certificates evidencing such shares. The Holder
shall give the Company prompt notice of any disposition of shares of Common Stock acquired by exercise of an Incentive Stock Option within (a) two years from the date of granting (including the date the Option is modified, extended or renewed
for purposes of Section 424(h) of the Code) such Option to such Holder, or (b) one year after the transfer of such shares to such Holder. 
 6.6 Additional Limitations on Exercise of Options. Holders may be required to comply with any timing or other restrictions with respect to the settlement or exercise of an Option, including a
window-period limitation, as may be imposed in the discretion of the Administrator. 
 ARTICLE VII. 
 AWARD OF RESTRICTED STOCK 
 7.1 Eligibility. Subject to Section 2.3, Restricted Stock may be awarded to any Employee, Non-Employee Director or Consultant who the Administrator determines should receive such an Award.

 7.2 Award of Restricted Stock. 
 (a) The Administrator may from time to time, in its discretion: 
 (i) Select from among the Employees, Non-Employee Directors or Consultants (including Employees, Non-Employee Directors or Consultants who have previously received Awards under the Plan) such of them as in its opinion should be awarded
Restricted Stock; 
 (ii) Subject to Section 2.3, determine the number of shares to be subject to such
Restricted Stock awards granted to the selected Employees, Non-Employee Directors or Consultants; and 
  

 15 

 (iii) Determine the terms and conditions applicable to such Restricted
Stock, which terms and conditions shall not be inconsistent with the terms of the Plan. 
 (b) The Administrator shall establish
the purchase price, if any, and form of payment for Restricted Stock; provided, however, that such purchase price shall be no less than the par value of the Common Stock to be purchased, unless otherwise permitted by applicable state law. In
all cases, legal consideration shall be required for each issuance of Restricted Stock. 
 (c) Upon the selection of an
Employee, Non-Employee Director or Consultant to be awarded Restricted Stock, the Administrator shall instruct the Secretary of the Company to issue such Restricted Stock and may impose such conditions on the issuance of such Restricted Stock as it
deems appropriate. 
 7.3 Rights as Stockholders. Subject to Section 7.4, the Holder shall have, unless otherwise
provided by the Administrator, all the rights of a stockholder with respect to said shares, subject to the restrictions in his or her Award Agreement, including the right to receive all dividends and other distributions paid or made with respect to
the shares; provided, however, that, in the discretion of the Administrator, any extraordinary distributions with respect to the Common Stock shall be subject to the restrictions set forth in Section 7.4. 
 7.4 Restriction. All shares of Restricted Stock issued under the Plan (including any shares received by Holders thereof with respect
to shares of Restricted Stock as a result of stock dividends, stock splits or any other form of recapitalization) shall, in the terms of each individual Award Agreement, be subject to such restrictions as the Administrator shall provide, which
restrictions may include, without limitation, restrictions concerning voting rights and transferability and restrictions based on duration of employment, directorship or consultancy with the Company, Company performance and individual performance;
provided, however, by action taken after the Restricted Stock is issued, the Administrator may, on such terms and conditions as it may determine to be appropriate, remove any or all of the restrictions imposed by the terms of the Award
Agreement. Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire. If no purchase price was paid by the Holder upon issuance, a Holder’s rights in unvested Restricted Stock shall lapse, and such
Restricted Stock shall be surrendered to the Company without consideration, upon Termination of Service; provided, however, that the Administrator in its discretion may provide that such rights shall not lapse in the event of a Termination of
Service following a Change in Control or because of the Holder’s retirement, death or disability or termination without cause, or otherwise. 
 7.5 Repurchase of Restricted Stock. The Administrator shall provide in the terms of each individual Award Agreement that the Company shall have the right to repurchase from the Holder the
Restricted Stock then subject to restrictions under the Award Agreement immediately upon a Termination of Service at a cash price per share equal to the price paid by the Holder for such Restricted Stock; provided, however, that the
Administrator in its discretion may provide that such rights shall not lapse in the event of a Termination of Service following a Change in Control or because of the Holder’s retirement, death or disability or termination without cause, or
otherwise. 
  

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 7.6 Escrow. The Secretary of the Company or such other escrow holder as the
Administrator may appoint shall retain physical custody of any certificate representing Restricted Stock until all of the restrictions imposed under the Award Agreement with respect to the shares evidenced by such certificate expire or shall have
been removed. 
 7.7 Certificates for Restricted Stock. Restricted Stock granted pursuant to the Plan may be evidenced in
such manner as the Administrator shall determine. Certificates or book entries evidencing shares of Restricted Stock must include an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock.

 7.8 Legend. In order to enforce the restrictions imposed upon shares of Restricted Stock hereunder, the Administrator
shall cause certificates or book entries evidencing shares of Restricted Stock to include one or more legends or notations referring to the terms, conditions, and restrictions applicable to such Restricted Stock. 
 7.9 Section 83(b) Election. If a Holder makes an election under Section 83(b) of the Code, or any successor section
thereto, to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Holder would otherwise be taxable under Section 83(a) of the Code, the Holder shall
deliver a copy of such election to the Company immediately after filing such election with the Internal Revenue Service. 
 ARTICLE VIII. 
 PERFORMANCE AWARDS, DIVIDEND EQUIVALENTS, 
 DEFERRED STOCK, STOCK PAYMENTS, 
 RESTRICTED STOCK UNITS 
 8.1 Eligibility. Subject to
Section 2.3, one or more Performance Awards, Dividend Equivalent awards, Deferred Stock awards, Stock Payment awards, and/or Restricted Stock Unit awards may be granted to any Employee, Non-Employee Director or Consultant whom the Administrator
determines should receive such an Award. 
 8.2 Performance Awards. 
 (a) Any Employee, Non-Employee Director or Consultant selected by the Administrator may be granted one or more Performance Awards. The value
of such Performance Awards may be linked to any one or more of the Performance Criteria or other specific performance criteria determined appropriate by the Administrator, in each case on a specified date or dates or over any period or periods
determined by the Administrator. In making such determinations, the Administrator shall consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the
particular Employee, Non-Employee Director or Consultant. 
 (b) Without limiting Section 8.2(a), the Administrator may
grant Performance Awards to any Covered Employee in the form of a cash bonus payable upon the attainment of objective Performance Goals which are established by the Administrator, in each case on a specified date or dates or over any period or
periods determined by the Administrator. Any such bonuses paid to Covered Employees shall be based upon objectively determinable bonus formulas established in accordance with the provisions of Section 3.2. The maximum aggregate amount of all
Performance Awards granted to a Covered Employee under this Section 8.2(b) during any calendar year shall not exceed the Award Limit. 
  

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 8.3 Dividend Equivalents. Any Employee, Non-Employee Director or Consultant selected
by the Administrator may be granted Dividend Equivalents based on the dividends declared on Common Stock, to be credited as of dividend payment dates, during the period between the date a Full Value Award is granted and the date such Full Value
Award vests, is exercised, is distributed or expires, as determined by the Administrator. Such Dividend Equivalents shall be converted to cash or additional shares of Common Stock by such formula and at such time and subject to such limitations as
may be determined by the Administrator. 
 8.4 Stock Payments. Any Employee, Non-Employee Director or Consultant selected
by the Administrator may receive Stock Payments in the manner determined from time to time by the Administrator. The number of shares shall be determined by the Administrator and may be based upon the Performance Criteria or other specific
performance criteria determined appropriate by the Administrator, determined on the date such Stock Payment is made or on any date thereafter. 
 8.5 Deferred Stock. Any Employee, Non-Employee Director or Consultant selected by the Administrator may be granted an award of Deferred Stock in the manner determined from time to time by the
Administrator. The number of shares of Deferred Stock shall be determined by the Administrator and may be linked to the satisfaction of one or more Performance Goals or other specific performance goals as the Administrator determines to be
appropriate at the time of grant, in each case on a specified date or dates or over any period or periods determined by the Administrator. Common Stock underlying a Deferred Stock award will not be issued until the Deferred Stock award has vested,
pursuant to a vesting schedule or performance criteria set by the Administrator. Unless otherwise provided by the Administrator, a Holder of Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred Stock until such
time as the Award has vested and the Common Stock underlying the Award has been issued. 
 8.6 Restricted Stock Units.
Any Employee, Non-Employee Director or Consultant selected by the Administrator may be granted an award of Restricted Stock Units in the manner determined from time to time by the Administrator. The Administrator is authorized to make awards of
Restricted Stock Units in such amounts and subject to such terms and conditions as determined by the Administrator. The Administrator shall specify the date or dates on which the Restricted Stock Units shall become fully vested and nonforfeitable,
and may specify such conditions to vesting as it deems appropriate, and may specify that such Restricted Stock Units become fully vested and nonforfeitable pursuant to the satisfaction of one or more Performance Goals or other specific performance
goals as the Administrator determines to be appropriate at the time of the grant, in each case on a specified date or dates or over any period or periods determined by the Administrator. The Administrator shall specify the distribution dates
applicable to each award of Restricted Stock Units which shall be no earlier than the vesting dates or events of the award and may be determined at the election of the Employee, Non-Employee Director or Consultant, subject to compliance with
Section 409A of the Code. On the distribution dates, the Company shall issue to the Holder one unrestricted, fully transferable share of Common Stock for each Restricted Stock Unit distributed. 
  

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 8.7 Term. The term of a Performance Award, Dividend Equivalent award, Deferred Stock
award, Stock Payment award and/or Restricted Stock Unit award shall be set by the Administrator in its discretion. 
 8.8
Exercise or Purchase Price. The Administrator may establish the exercise or purchase price of a Performance Award, shares of Deferred Stock, shares distributed as a Stock Payment award or shares distributed pursuant to a Restricted Stock Unit
award; provided, however, that such price shall not be less than the par value of a share of Common Stock, unless otherwise permitted by applicable state law. 
 8.9 Exercise upon Termination of Service. A Performance Award, Dividend Equivalent award, Deferred Stock award, Stock Payment award and/or Restricted Stock Unit award is exercisable or
distributable only while the Holder is an Employee, Consultant or Non-Employee Director, as applicable; provided, however, that the Administrator in its discretion may provide that the Performance Award, Dividend Equivalent award, Deferred
Stock award, Stock Payment award and/or Restricted Stock Unit award may be exercised or distributed subsequent to a Termination of Service following a “change of control or ownership” (within the meaning of Section 1.162-27(e)(2)(v)
or any successor regulation thereto) of the Company; and, provided, further, that, except with respect to Performance Awards granted to Covered Employees, the Administrator in its discretion may provide that Performance Awards may be
exercised or paid following a Termination of Service or following a Change in Control, or because of the Holder’s retirement, death or disability, or otherwise. 
 8.10 Form of Payment. Payment of the amount determined under Section 8.2 or 8.3 above shall be in cash, in Common Stock or a combination of both, as determined by the Administrator. To the
extent any payment under this Article VIII is effected in Common Stock, it shall be made subject to satisfaction of all provisions of Section 6.3. 
 ARTICLE IX. 
 STOCK APPRECIATION RIGHTS 
 9.1 Grant of Stock Appreciation Rights. A Stock Appreciation Right may be granted to any Employee, Non-Employee Director or
Consultant selected by the Administrator. A Stock Appreciation Right may be granted: (a) in connection and simultaneously with the grant of an Option, or (b) independent of an Option. A Stock Appreciation Right shall be subject to such
terms and conditions not inconsistent with the Plan as the Administrator shall impose and shall be evidenced by an Award Agreement. 
 9.2 Coupled Stock Appreciation Rights. 
 (a) A Coupled Stock Appreciation Right (“CSAR”) shall
be related to a particular Option and shall be exercisable only when and to the extent the related Option is exercisable. 
 (b)
A CSAR may be granted to the Holder for no more than the number of shares subject to the simultaneously granted Option to which it is coupled. 
 (c) A CSAR shall entitle the Holder (or other person entitled to exercise the Option pursuant to the Plan) to surrender to the Company unexercised a portion of the Option to which the CSAR relates (to the
extent then exercisable pursuant to its terms) and to

  

 19 

 
receive from the Company in exchange therefore an amount determined by multiplying (i) the difference obtained by subtracting the exercise price per share of the CSAR from (ii) the Fair
Market Value of a share of Common Stock on the date of exercise of the CSAR by the number of shares of Common Stock with respect to which the CSAR shall have been exercised, subject to any limitations the Administrator may impose. 
 9.3 Independent Stock Appreciation Rights. 
 (a) An Independent Stock Appreciation Right (“ISAR”) shall be unrelated to any Option and shall have a term set by the Administrator but in no event longer than seven (7) years
following the grant date. An ISAR shall be exercisable in such installments as the Administrator may determine. An ISAR shall cover such number of shares of Common Stock as the Administrator may determine. The exercise price per share of Common
Stock subject to each ISAR shall be set by the Administrator; provided that such exercise price per share shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date the ISAR is granted. An ISAR is exercisable
only while the Holder is an Employee, Non-Employee Director or Consultant; provided, that the Administrator may determine that the ISAR may be exercised subsequent to Termination of Service or following a Change in Control, or because of the
Holder’s retirement, death or disability, or otherwise. 
 (b) An ISAR shall entitle the Holder (or other person entitled
to exercise the ISAR pursuant to the Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying (i) the difference obtained
by subtracting the exercise price per share of the ISAR from the Fair Market Value of a share of Common Stock on the date of exercise of the ISAR by (ii) the number of shares of Common Stock with respect to which the ISAR shall have been
exercised, subject to any limitations the Administrator may impose. 
 9.4 Payment and Limitations on Exercise.

 (a) Payment of the amounts determined under Section 9.2(c) and 9.3(b) above shall be in cash, shares of Common Stock
(based on its Fair Market Value as of the date the Stock Appreciation Right is exercised), or a combination of both, as determined by the Administrator. The Company shall not be required to issue or deliver any certificate or certificates for shares
of stock issuable upon the exercise of any Stock Appreciation Right prior to fulfillment of the conditions set forth in Section 6.3 above. 
 (b) Holders of Stock Appreciation Rights may be required to comply with any timing or other restrictions with respect to the settlement or exercise of a Stock Appreciation Right, including a window-period
limitation, as may be imposed in the discretion of the Administrator. 
 ARTICLE X. 
 ADMINISTRATION 
 10.1 Compensation Committee. The Compensation Committee (or another committee or a subcommittee of the Board assuming the functions of the Committee under the Plan) shall consist solely of two or more Non-Employee Directors appointed
by and holding office at the pleasure of the Board, each of whom is intended to qualify as both a “non-employee director” as defined by Rule 16b-3

  

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and an “outside director” for purposes of Section 162(m) of the Code. Appointment of Committee members shall be effective upon acceptance of appointment. Committee members may
resign at any time by delivering written notice to the Board. Vacancies in the Committee may be filled by the Board. 
 10.2
Duties and Powers of Committee. It shall be the duty of the Committee to conduct the general administration of the Plan in accordance with its provisions. The Committee shall have the power to interpret the Plan and the Award Agreements, and
to adopt such rules for the administration, interpretation and application of the Plan as are not inconsistent therewith, to interpret, amend or revoke any such rules, to delegate authority in accordance with Section 10.5, and to amend any
Award Agreement provided that the rights or obligations of the Holder of the Award that is the subject of any such Award Agreement are not affected adversely. Any such grant or award under the Plan need not be the same with respect to each Holder.
Any such interpretations and rules with respect to Incentive Stock Options shall not be inconsistent with the provisions of Section 422 of the Code. In its discretion, the Board may at any time and from time to time exercise any and all rights
and duties of the Committee under the Plan except with respect to matters which under Rule 16b-3 or Section 162(m) of the Code, or any regulations or rules issued thereunder, are required to be determined in the discretion of the Committee.
Notwithstanding the foregoing, the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect to Awards granted to Non-Employee Directors. 
 10.3 Majority Rule; Unanimous Written Consent. The Committee shall act by a majority of its members in attendance at a meeting at
which a quorum is present or by a memorandum or other written instrument signed by all members of the Committee. 
 10.4
Compensation; Professional Assistance; Good Faith Actions. Members of the Committee shall receive such compensation, if any, for their services as members as may be determined by the Board. All expenses and liabilities which members of the
Committee incur in connection with the administration of the Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Committee, the Company and the Company’s
officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee or the Board in good faith shall be final and binding
upon all Holders, the Company and all other interested persons. No members of the Committee or Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or Awards, and all members of
the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation. 
 10.5 Delegation of Authority to Grant Awards. 
 (a) The Board or Committee may, but need not, delegate from time
to time some or all of its authority to grant Awards under the Plan to one or more committees consisting of one or more members of the Board or Committee, respectively, subject to Section 10.5(c). 
 (b) The Board also may, but need not, delegate from time to time some or all of its authority to grant rights or Options under the Plan to
one or more committees consisting of one or more officers of the Company, subject to Section 10.5(c) and compliance with applicable law. 
  

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 (c) Notwithstanding anything to the contrary in this Section 10.5, the authority to
grant Awards to the following individuals may not be delegated: (i) individuals who are subject on the date of the grant to the reporting rules under Section 16(a) of the Exchange Act, (ii) individuals who are Covered Employees, and
(iii) individuals who are officers of the Company who are delegated authority by the Committee hereunder. 
 (d) Any
delegation pursuant to this Section 10.5 shall be subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation of authority and may be rescinded at any time by the Board or Committee authorizing
such delegation. At all times, any committee appointed under this Section 10.5 shall serve in such capacity at the pleasure of the Board or Committee appointing such committee. 
 ARTICLE XI. 
 MISCELLANEOUS PROVISIONS

 11.1 Transferability of Awards. 
 (a) Except as otherwise provided in Section 11.1(b): 
 (i) No
Award under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until such Award has been
exercised, or the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed; 
 (ii) No Award or interest or right therein shall be liable for the debts, contracts or engagements of the Holder or his successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence; and 
 (iii) During the lifetime of the Holder, only the Holder may exercise an Option or other Award (or any portion thereof)
granted to him under the Plan, unless it has been disposed of pursuant to a DRO; after the death of the Holder, any exercisable portion of an Option or other Award may, prior to the time when such portion becomes unexercisable under the Plan or the
applicable Award Agreement, be exercised by his personal representative or by any person empowered to do so under the deceased Holder’s will or under the then applicable laws of descent and distribution. 
 (b) Notwithstanding Section 11.1(a), the Administrator, in its discretion, may determine to permit a Holder to transfer a Non-Qualified
Stock Option to any one or more Permitted Transferees (as defined below), subject to the following terms and conditions: (i) a Non-Qualified Stock Option transferred to a Permitted Transferee shall not be assignable or transferable by the

  

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Permitted Transferee other than by will or the laws of descent and distribution; (ii) any Non-Qualified Stock Option which is transferred to a Permitted Transferee shall continue to be
subject to all the terms and conditions of the Non-Qualified Stock Option as applicable to the original Holder (other than the ability to further transfer the Non-Qualified Stock Option); and (iii) the Holder and the Permitted Transferee shall
execute any and all documents requested by the Administrator, including, without limitation documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the transfer
under applicable federal, state and foreign securities laws and (C) evidence the transfer. For purposes of this Section 11.1(b), “Permitted Transferee” shall mean, with respect to a Holder, any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the
Holder’s household (other than a tenant or employee), a trust in which these persons (or the Holder) control the management of assets, and any other entity in which these persons (or the Holder) own more than fifty percent of the voting
interests, after taking into account any federal, state, local and foreign tax and securities laws applicable to transferable Non-Qualified Stock Options. 
 11.2 Amendment, Suspension or Termination of the Plan. Except as otherwise provided in this Section 11.2, the Plan may be wholly or partially amended or otherwise modified, suspended or
terminated at any time or from time to time by the Board or the Compensation Committee of the Board. However, without approval of the Company’s stockholders given within twelve (12) months before or after the action by the Board or the
Compensation Committee of the Board, no action of the Board or the Compensation Committee of the Board may, except as provided in Section 11.3, (i) increase the limits imposed in Section 2.1 on the maximum number of shares which may
be issued under the Plan, (ii) take any action in violation of Section 11.6 to decrease the exercise price of any outstanding Option or Stock Appreciation Right granted under the Plan, or (iii) result in a material change in
eligibility requirements. Except as provided in Section 11.11, no amendment, suspension or termination of the Plan shall, without the consent of the Holder, adversely alter or impair any rights or obligations under any Award theretofore granted
or awarded, unless the Award itself otherwise expressly so provides. No Awards may be granted or awarded during any period of suspension or after termination of the Plan, and in no event may any Award be granted under the Plan after
September 29, 2019. 
 11.3 Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company
and Other Corporate Events. 
 (a) Subject to Section 11.3(e), in the event of any dividend or other distribution
(whether in the form of cash, Common Stock, other securities or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, liquidation,
dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or
other securities of the Company, or other similar corporate transaction or event, the Administrator shall make proportionate adjustments to any or all of: 
 (i) The number and kind of shares of Common Stock (or other securities or property) with respect to which Awards may be granted or awarded (including, without limitation, adjustments of the limitations in
Section 2.1 on the maximum number and kind of shares which may be issued under the Plan, adjustments of the Award Limit, and adjustments of the manner in which shares subject to Full Value Awards will be counted); 
  

 23 

 (ii) The number and kind of shares of Common Stock (or other securities or
property) subject to outstanding Awards; and 
 (iii) The grant or exercise price with respect to any Award.

 (b) Subject to Sections 11.3(c) and 11.3(e), in the event of any transaction or event described in Section 11.3(a) or
any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in applicable laws, regulations or accounting principles, the
Administrator, in its discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event and either automatically or upon the Holder’s
request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be
made available under the Plan or with respect to any Award under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles: 
 (i) To provide for either the purchase of any such Award for an amount of cash equal to the amount that could have been
attained upon the exercise of such Award or realization of the Holder’s rights had such Award been currently exercisable or payable or fully vested or the replacement of such Award with other rights or property selected by the Administrator in
its discretion; 
 (ii) To provide that the Award cannot vest, be exercised or become payable after such event;

 (iii) To provide that such Award shall be exercisable as to all shares covered thereby, notwithstanding
anything to the contrary in Section 5.3 or the provisions of such Award; 
 (iv) To provide that such Award
be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof,
with appropriate adjustments as to the number and kind of shares and prices; 
 (v) To make adjustments in the
number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards, and/or in the terms and conditions of (including the grant, exercise or purchase price), and the criteria included in, outstanding options,
rights and awards and options, rights and awards which may be granted in the future; and 
  

 24 

 (vi) To provide that, for a specified period of time prior to such event,
the restrictions imposed under an Award Agreement upon some or all shares of Restricted Stock, Restricted Stock Units or Deferred Stock may be terminated, and, in the case of Restricted Stock, some or all shares of such Restricted Stock may cease to
be subject to repurchase under Section 7.5 or forfeiture under Section 7.4 after such event. 
 (c) Notwithstanding
any other provision of the Plan, in the event of a Change in Control, each outstanding Award shall be assumed or an equivalent Award substituted by the successor corporation or a parent or subsidiary of the successor corporation. In the event that
the successor corporation refuses to assume or substitute for the Award, the Administrator may cause any or all of such Awards to become fully exercisable immediately prior to the consummation of such transaction and all forfeiture restrictions on
any or all of such Awards to lapse. If an Award is exercisable in lieu of assumption or substitution in the event of a Change in Control, the Administrator shall notify the Holder that the Award shall be fully exercisable for a period of fifteen
(15) days from the date of such notice, and the Award shall terminate upon the expiration of such period. For the purposes of this Section 11.3(c), an Award shall be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each share of Common Stock subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the 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 Change in Control was 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 Award, for each share of Common Stock subject to an Award, 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 Change in Control. 
 (d) Subject to Sections 11.3(e) and 3.2, the Administrator may, in its discretion, include such
further provisions and limitations in any Award, agreement or certificate, as it may deem equitable and in the best interests of the Company. 
 (e) With respect to Awards which are granted to Covered Employees and are intended to qualify as performance-based compensation under Section 162(m)(4)(C), no adjustment or action described in this
Section 11.3 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause such Award to fail to so qualify under Section 162(m)(4)(C), or any successor provisions thereto, except as
otherwise determined by the Committee. No adjustment or action described in this Section 11.3 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Plan to violate
Section 422(b)(1) of the Code. Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing profits liability under Section 16 or violate the exemptive conditions of Rule
16b-3 unless the Administrator determines that the Award is not to comply with such exemptive conditions. The number of shares of Common Stock subject to any Award shall always be rounded down to the next whole number. 
  

 25 

 (f) The existence of the Plan, the Award Agreement and the Awards granted hereunder shall
not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any
merger or consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights
thereof or which are convertible into or exchangeable for Common Stock, 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. 
 (g) No action shall be taken under this Section 11.3 which shall cause an Award to fail
to comply with Section 409A of the Code or the Treasury Regulations thereunder, to the extent applicable to such Award. 
 11.4 Approval of Plan by Stockholders. The Plan will be submitted for the approval of the Company’s stockholders within twelve (12) months after the date of the Board’s initial
adoption of the Plan. No Awards may be granted or awarded prior to such stockholder approval. In addition, if the Board determines that Awards other than Options or Stock Appreciation Rights which may be granted to Covered Employees should continue
to be eligible to qualify as performance-based compensation under Section 162(m)(4)(C) of the Code, the Performance Criteria must be disclosed to and approved by the Company’s stockholders no later than the first stockholder meeting that
occurs in the fifth year following the year in which the Company’s stockholders previously approved the Plan. 
 11.5
Tax Withholding. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Holder to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the
Holder’s FICA obligation) required by law to be withheld with respect to any taxable event concerning a Holder arising as a result of this Plan. The Administrator may in its discretion and in satisfaction of the foregoing requirement allow
a Holder to elect to have the Company withhold shares of Common Stock otherwise issuable under an Award (or allow the return of shares of Common Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other
provision of the Plan, the number of shares of Common Stock which may be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Holder of such Award within six months (or such other
period as may be determined by the Administrator) after such shares of Common Stock were acquired by the Holder from the Company) in order to satisfy the Holder’s federal, state, local and foreign income and payroll tax liabilities with respect
to the issuance, vesting, exercise or payment of the Award shall be limited to the number of shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum
statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income. 
 11.6 Prohibition on Repricing. Subject to Section 11.3, the Administrator shall not, without the approval of the stockholders of the Company, (i) authorize the amendment of any
outstanding Award to reduce the price per share, (ii) authorize the cancellation of any outstanding Award in exchange for the grant of an Award having a lesser price per share, or (iii) authorize the cancellation of any

  

 26 

 
outstanding Option or SAR in exchange for cash, Restricted Stock or any other Award. Subject to Section 11.2, the Administrator shall have the authority, without the approval of the
stockholders of the Company, to amend any outstanding Option or SAR to increase its price per share or to cancel and replace an Option or SAR with the grant of a Option or SAR having a price per share that is greater than or equal to the price per
share of the original Option or SAR. 
 11.7 Effect of Plan upon Options and Compensation Plans. The adoption of the Plan
shall not affect any other compensation or incentive plans in effect for the Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary: (a) to establish any other forms of incentives
or compensation for Employees, Directors or Consultants of the Company or any Subsidiary, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including
without limitation, the grant or assumption of options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or
association. 
 11.8 Compliance with Laws. The Plan, the granting and vesting of Awards under the Plan and the issuance
and delivery of shares of Common Stock and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all applicable federal, state, local and foreign laws, rules and regulations (including but
not limited to federal, state, and foreign securities law and margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection
therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such assurances and representations to the Company as the Company may deem
necessary or desirable to assure compliance with all applicable legal requirements. To the extent permitted by applicable law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such laws,
rules and regulations. 
 11.9 Titles. Titles are provided herein for convenience only and are not to serve as a basis
for interpretation or construction of the Plan. 
 11.10 Governing Law. The Plan and any agreements hereunder shall be
administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof. 
 11.11 Section 409A. To the extent that the Administrator determines that any Award granted under the Plan is subject to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and
conditions required by Section 409A of the Code. To the extent applicable, the Plan and Award Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive
guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date
the Administrator determines that any Award may be subject to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Administrator may
adopt such amendments to the Plan and the applicable Award Agreement

  

 27 

 
or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or
appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and
related Department of Treasury guidance. 
 * * * * * 
 I hereby certify that the foregoing ResMed Inc. 2009 Incentive Award Plan was duly adopted by the Board of Directors of ResMed Inc. on
September 30, 2009. 
  

	
	 /s/ David Pendarvis

	Corporate Secretary

 * * * * * 
 I hereby certify that the foregoing ResMed Inc. 2009 Incentive Award Plan was approved by the stockholders of ResMed Inc. on
November 17, 2009. 
 Executed on this 17th day of November, 2009. 
  

	
	 /s/ David Pendarvis

	Corporate Secretary

  

 28ResMed Inc. 2009 Employee Stock Purchase Plan

 Exhibit 10.2 
 THE RESMED INC. 
 2009 EMPLOYEE STOCK PURCHASE PLAN

 DATED: SEPTEMBER 30, 2009 

 2009 EMPLOYEE STOCK PURCHASE PLAN 
 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	1.	  	Definitions	  	1
	2.	  	Stock Subject to the Plan	  	4
	3.	  	Grant of Options.	  	4
	4.	  	Exercise of Options; Option Price.	  	6
	5.	  	Withdrawal from the Plan.	  	7
	6.	  	Termination of Employment	  	7
	7.	  	Restriction upon Assignment	  	8
	8.	  	No Rights of Stockholders until Shares Issued	  	8
	9.	  	Changes in the Stock and Corporate Events; Adjustment of Options.	  	8
	10.	  	Use of Funds; No interest Paid	  	10
	11.	  	Amendment, Suspension or Termination of the Plan.	  	10
	12.	  	Administration by Committee; Rules and Regulations.	  	11
	13.	  	Designation of Subsidiary Corporations	  	12
	14.	  	No Rights as an Employee	  	12
	15.	  	Term; Approval by Stockholders	  	12
	16.	  	Effect upon Other Plans	  	12
	17.	  	Conditions to Issuance of Stock Certificates	  	12
	18.	  	Notification of Disposition	  	13
	19.	  	Notices	  	13
	20.	  	Additional Restrictions of Rule 16b-3	  	13
	21.	  	Equal Rights and Privileges	  	14
	22.	  	Electronic Forms	  	14
	23.	  	Headings	  	14

 THE RESMED INC. 
 EMPLOYEE STOCK PURCHASE PLAN 
 ResMed Inc., a Delaware
corporation (the “Company”), adopted the ResMed Inc. Employee Stock Purchase Plan, hereby renamed the ResMed Inc. 2009 Employee Stock Purchase Plan (the “Plan”), effective as of November 14, 2003, and further amended the
Plan on September 30, 2009, subject to stockholder approval. 
 The purposes of the Plan are as follows: 
 (1) To assist Eligible Employees of the Company and its Designated Subsidiaries (as defined below) in acquiring stock ownership in the
Company pursuant to a plan which is intended to qualify as an “employee stock purchase plan,” within the meaning of Section 423(b) of the Code (as defined below). 
 (2) To help such employees provide for their future security and to encourage them to remain in the employment of the Company and its
Subsidiary Corporations. 
 1. Definitions. Whenever any of the following terms is used in the Plan with the first letter
or letters capitalized, it shall have the following meaning unless context clearly indicates to the contrary (such definitions to be equally applicable to both the singular and the plural forms of the terms defined): 
 (a) “Account” means the account established for a Participant under the Plan. 
 (b) “Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged, retained,
appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. 
 (c)
“Authorization” means a Participant’s payroll deduction authorization with respect to an Offering Period provided by such Participant in accordance with Section 3(b). 
 (d) “Board” means the Board of Directors of the Company, as constituted from time to time. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
 (f) “Committee” means the committee of the Board appointed to administer the Plan pursuant to Section 12. 

(g) “Company” means ResMed Inc., a Delaware corporation, or any successor corporation or entity. 
 (h) “Compensation” of an Employee means all compensation received by such Employee from the Company or any Designated
Subsidiary on each Payday as compensation for services to the Company or any Designated Subsidiary, including all salary, wages (including amounts elected to be deferred by the Employee, but would otherwise have been paid, under any cash or

  

 1 

 
deferred arrangement established by the Company or a Designated Subsidiary), overtime pay, sales commissions, bonuses, and other remuneration paid directly to the Employee; but excluding the cost
of employee benefits paid by the Company or a Designated Subsidiary, education or tuition reimbursements, imputed income arising under any Company or Designated Subsidiary group insurance or benefit program, travel expenses, business and moving
reimbursements, income received in connection with stock options, contributions made by the Company or a Designated Subsidiary under any employee benefit plan, and similar items of compensation. 
 (i) “Date of Exercise” of any Option means the date on which such Option is exercised, which shall be the last Trading Day
of the Offering Period with respect to which the Option was granted, in accordance with Section 4(a) (except as provided in Section 9). 
 (j) “Date of Grant” of any Option means the date on which such Option is granted, which shall be the first Trading Day of the Offering Period with respect to which the Option was granted,
in accordance with Section 3(a). 
 (k) “Designated Subsidiary” means any Subsidiary Corporation
designated by the Committee or the Board in accordance with Section 13. 
 (l) “Eligible
Employee” means an Employee of the Company or any Designated Subsidiary who does not, immediately after the Option is granted, own (directly or through attribution) stock possessing five percent or more of the total combined voting power or
value of all classes of Stock or other stock of the Company, a Parent Corporation or a Subsidiary Corporation (as determined under Section 423(b)(3) of the Code). For purposes of the foregoing, the rules of Section 424(d) of the Code with
regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock which an Employee may purchase under outstanding options shall be treated as stock owned by the Employee. Notwithstanding the
foregoing, the Committee may determine in its discretion, and if so determines, shall set forth in the terms of the applicable Offering Period, that an Employee of the Company or any Designated Subsidiary shall be eligible to participate in such
Offering Period, unless, as of the first day of such Offering Period: (1) such Employee has been in the employ of the Company or any Designated Subsidiary for less than two years; (2) such Employee’s customary employment with the
Company or any Designated Subsidiary is twenty hours or less per week and/or less than five months per calendar year; (3) such Employee is a “highly compensated employee” of the Company or any Designated Subsidiary (within the meaning
of Section 414(q) of the Code; and/or (4) such employee is a citizen or resident of a foreign jurisdiction and the grant of an Option under the Plan is prohibited under the laws of such foreign jurisdiction, or compliance with the laws of
such foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code; provided, that any exclusion in clauses (1), (2), (3) and (4) shall be applied in an identical manner to all employees of
the Company and all Designated Subsidiaries whose employees are granted Options under the Plan, in accordance with Treasury Regulation Section 1.423-2(e). 
  

 2 

 (m) “Employee” means an individual who renders services to the Company or a
Designated Subsidiary in the status of an “employee,” within the meaning of Code Section 3401(c). During a leave of absence meeting the requirements of Treasury Regulation Section 1.421-7(h)(2), an individual shall be treated as an
Employee of the Company or Designated Subsidiary employing such individual immediately before such leave. “Employee” shall not include any director of the Company or a Designated Subsidiary who does not render services to the Company or
the Designated Subsidiary in the status of an “employee,” within the meaning of Code Section 3401(c). 
 (n)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (o) “Fair Market
Value” of a share of Stock as of a given date means: (A) the closing price of a share of Stock on the principal exchange on which the Stock is then trading, if any, on such date (or, if shares of Stock were not traded on such date,
then on the next preceding trading day during which a sale occurred); (B) if the Stock is not traded on an exchange, but is quoted on Nasdaq or a successor quotation system, (1) the last sales price (if the Stock is then listed as a
National Market Issue under the NASD National Market System), or (2) the mean between the closing representative bid and asked prices (in all other cases) for a share of Stock on such date (or, if shares of Stock were not traded on such date,
then on the next preceding trading day during which a sale occurred) as reported by Nasdaq or such successor quotation system; (3) if the Stock is not publicly traded on an exchange and not quoted on Nasdaq or a successor quotation system, the
mean between the closing bid and asked prices for a share of Stock on such date (or, if shares of Stock were not traded on such date, then on the next preceding trading day during which a sale occurred), as determined in good faith by the Committee;
or (4) if the Stock is not publicly traded, the fair market value of a share of Stock established by the Committee acting in good faith. 
 (p) “Offering Period” means each period, the duration of which shall be set by the Committee, during which Options are granted to Eligible Employees; provided, however, that the duration
of any Offering Period can be no less than three months and no more than 27 months, and shall initially be six months. 
 (q)
“Option” means an option to purchase shares of Stock granted under the Plan to a Participant in accordance with Section 3(a). 
 (r) “Option Price” means the purchase price per share of Stock determined in accordance with Section 4(b). 
 (s) “Parent Corporation” means any corporation, other than the Company, in an unbroken chain of corporations ending with
the Company if, at the time of the granting of the Option, each of the corporations other than the Company directly or indirectly owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain. 
 (t) “Participant” means an Eligible Employee who has elected to participate in
the Plan, in accordance with the provisions of Section 3(b). 
 (u) “Payday” means the regular and
recurring established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary. 
  

 3 

 (v) “Plan” means the ResMed Inc. 2009 Employee Stock Purchase Plan, as
amended and/or restated from time to time. 
 (w) “Stock” means the shares of the Company’s Common stock,
$.004 par value per share. 
 (x) “Subsidiary Corporation” means any entity that is a subsidiary corporation of
the Company within the meaning of Section 423 of the Code and the regulations promulgated thereunder. In addition, with respect to any sub-plans adopted under Section 12(c) which are designed to be outside the scope of Section 423 of
the Code, Subsidiary Corporation shall include any corporate or noncorporate entity in which the Company has a direct or indirect equity interest or significant business relationship. 
 (y) “Trading Day” means a day on which the New York Stock Exchange is open for trading. 
 2. Stock Subject to the Plan. Subject to the provisions of Section 9 hereof (relating to adjustments upon
changes in the Stock) and Section 11 hereof (relating to amendments of the Plan), the Stock that may be sold pursuant to Options granted under the Plan shall not exceed in the aggregate 1,100,000 shares of common stock.1 The shares of Stock sold pursuant to Options granted under the Plan
may be unissued shares or treasury shares of Stock, or shares reacquired in private transactions or open market purchases. If and to the extent that any right to purchase reserved shares shall not be exercised by any Participant for any reason, or
if such right to purchase shall terminate as provided herein, shares that have not been so purchased hereunder shall again become available for the purposes of this Plan, unless this Plan shall have been terminated, but all shares sold under this
Plan, regardless of source, shall be counted against the limitation set forth above. 
 3. Grant of Options. 

(a) Option Grants. The Company shall grant Options under the Plan to all Eligible Employees in successive Offering Periods until the
earlier of: (1) the date on which the number of shares of Stock available under the Plan have been sold, or (2) the date on which the Plan is suspended or terminates. Each Participant shall be granted an Option with respect to an Offering
Period on the Date of Grant for that Offering Period. Each Option shall expire on the Date of Exercise for such Offering Period immediately after the automatic exercise of the Option in accordance with Section 4(a), unless such Option
terminates earlier in accordance with Section 5, 6 or 9. The number of shares of Stock subject to a Participant’s Option shall equal the cumulative payroll deductions authorized by such Participant in accordance with subsection
(b) for the Offering Period (if any), divided by the Option Price for the Option; provided, however, that the number of shares of Stock subject to such Option shall not exceed the number determined in 
  
  

	1	 The Plan was initially approved with an aggregate of 3,250,000 shares of Stock that were issuable under the Plan, which number of shares was
subsequently adjusted to 6,500,000 shares due to a stock split of the Company’s Stock. The Board of Directors approved a reduction in the number of shares of Stock issuable under the Plan, from 6,500,000 to 500,000. Pursuant to the amendment to
the Plan dated September 30, 2009, the number of shares of Stock issuable under the Plan will be increased by 600,000 shares of Stock, for a total of 1,100,000 shares of Stock issuable under the Plan, subject to stockholder approval.

  

 4 

 
accordance with Section 3(c). In connection with each Offering Period made under the Plan, the Committee shall also specify a maximum number of shares of Stock that may be purchased by any
Employee pursuant to such Offering Period (which maximum shall be 5,000 shares of Stock per Offering in the absence of such determination). The Company shall not grant an Option with respect to an Offering Period to any Employee who is not an
Eligible Employee on the first day of such Offering Period. 
 (b) Election to Participate; Payroll Deduction Authorization. An
Eligible Employee shall become a Participant in the Plan only by means of payroll deduction. Each such Participant who elects to participate in the Plan with respect to an Offering Period shall deliver to the Company a completed and executed written
payroll deduction authorization in a form approved by the Company (the “Authorization”) within the time determined by the Company and set forth in the terms of such Offering Period. Each Participant’s Authorization shall give notice
of such Participant’s election to participate in the Plan for such Offering Period (and subsequent Offering Periods) and shall designate a whole percentage of such Participant’s Compensation to be withheld by the Company or the Designated
Subsidiary employing such Participant on each Payday during the Offering Period. A Participant may designate any whole percentage of Compensation that is not less than one percent and not more than a maximum percentage determined by the Committee
(which maximum percentage shall be fifty percent in the absence of such determination). A Participant’s Compensation payable during an Offering Period shall be reduced each Payday through payroll deduction in an amount equal to the percentage
specified in the Authorization, and such amount shall be credited to such Participant’s Account under the Plan. A Participant may increase or decrease the percentage of Compensation designated in the Authorization, subject to the limits of this
subsection (b), or may suspend the Authorization, only as provided by the Committee with respect to such Offering Period and set forth in the terms of such Offering Period. Any Authorization shall remain in effect for each subsequent Offering
Period, unless the Participant submits a new Authorization pursuant to this subsection (b), withdraws from the Plan pursuant to Section 5, ceases to be an Eligible Employee as defined in Section 1(1) or terminates employment as provided in
Section 6. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Sections 3(a), (c) and (d) of the Plan, the Company may reduce a Participant’s rate of payroll deductions to
zero at such time during any Offering Period. Payroll deductions will recommence at the rate provided by the Participant in his or her payroll deduction authorization to the extent such payroll deductions may be applied to purchase shares of Stock
in accordance with Code Section 423(b)(8) and Sections 3(a), (c) and (d) of the Plan, unless terminated by the Participant as provided in Section 5 of the Plan. 
 (c) $25,000 Limitation. No Participant shall be granted an Option under the Plan which permits his rights to purchase shares of Stock under
the Plan, together with other options to purchase shares of Stock or other stock under all other employee stock purchase plans of the Company, any Parent Corporation or any Subsidiary Corporation subject to the Section 423, to accrue at a rate
which exceeds $25,000 of fair market value of such shares of Stock or other stock (determined at the time the Option or other option is granted) for each calendar year in which the Option is outstanding. For purpose of the limitation imposed by this
subsection, (1) the right to purchase shares of Stock or other stock under an Option or other option accrues when the Option or other option (or any portion thereof) first becomes exercisable during the calendar year, (2) the right to
purchase shares of Stock or other stock under an Option or other option accrues at the rate provided in the Option or other option, but in no case may such rate exceed $25,000 of the

  

 5 

 
fair market value of such Stock or other stock (determined at the time such Option or other option is granted) for any one calendar year, and (3) a right to purchase Stock or other stock
which has accrued under an Option or other option may not be carried over to any other Option or other option. This limitation shall be applied in accordance with Section 423(b)(8) of the Code and the Treasury Regulations thereunder.

 (d) 5 Percent Holders. No Employee will be granted an Option under this Plan if immediately after the grant, such Employee
(or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own stock and/or hold outstanding options to purchase stock possessing five percent or more of the total combined voting power
or value of all classes of stock of the Company or of any Subsidiary Corporation or Parent Corporation. 
 4. Exercise of
Options; Option Price. 
 (a) Option Exercise. Each Participant automatically shall be deemed to have exercised such
Participant’s Option on the Date of Exercise for an Offering Period to the extent that the balance then in the Participant’s Account is sufficient to purchase, at the Option Price for such Option, shares of the Stock subject to the Option,
provided, however, that any balance that is insufficient to purchase fractional shares of Stock shall be carried over to the next Offering Period and shall remain credited to Participant. 
 (b) Option Price Defined. The purchase price per share of Stock (the “Option Price”) to be paid by a Participant upon the exercise
of the Participant’s Option on the Date of Exercise for an Offering Period shall be equal to 85% of the lesser of: (1) the Fair Market Value of a share of Stock on the Date of Exercise for such Offering Period and (2) the Fair Market
Value of a share of Stock on the Date of Grant for such Offering Period. 
 (c) Book Entry/Share Certificates. As soon as
practicable after the purchase of shares of Stock upon the exercise of an Option by a Participant on the Date of Exercise for an Offering Period and subject to Section 17, the Company shall issue the shares of Stock to such Participant and such
shares shall be held in the custody of the Company, or if applicable, the Agent, for the benefit of the Participant. The Company or the Agent shall make an entry on its books and records indicating that the shares of Stock purchased in connection
with such exercise have been duly issued as of that date to such Participant. A Participant shall have the right at any time to request in writing a certificate or certificates for all or a portion of the whole shares of Stock purchased hereunder.
Following receipt of a Participant’s written request for any such certificate and subject to Section 17, the Company shall (or shall cause the Agent to) deliver any such certificate to the Participant. 
 (d) Pro Rata Allocations. If the total number of shares of Stock for which Options are to be exercised on any date exceeds the number of
shares of Stock remaining unsold under the Plan (after deduction for all shares of Stock for which Options have theretofore been exercised), the Committee shall make a pro rata allocation of the available remaining shares of Stock in as nearly a
uniform manner as shall be practicable and the balance of the amount credited to the Account of each Participant which has not been applied to the purchase of shares of Stock shall be paid to such Participant in one lump sum in cash within thirty
days after the Date of Exercise, without any interest thereon. 
  

 6 

 (e) Information Statement. The Company shall provide each Participant whose Option is
exercised with an information statement in accordance with Section 6039(a) of the Code and the Treasury Regulations thereunder. The Company shall maintain a procedure for identifying certificates of shares of Stock sold upon the exercise of
Options in accordance with Section 6039(b) of the Code. 
 5. Withdrawal from the Plan. 
 (a) Withdrawal Election. A Participant may withdraw from participation in an Offering Period at any time, except as otherwise determined by
Committee and set forth in the terms of the applicable Offering Period. A Participant electing to withdraw from the Plan must deliver to the Company a notice of withdrawal in a form approved by the Committee (the “Withdrawal Election”),
not later than five business days before the Date of Exercise for such Offering Period, except as otherwise determined by Committee and set forth in the terms of the applicable Offering Period. Upon receipt of a Participant’s Withdrawal
Election, the Company or Subsidiary Corporation employing the Participant shall pay to the Participant the amount credited to the Participant’s Account in one lump sum payment in cash, without any interest thereon. Subject to Section 17,
upon the Participant’s request, or at the election of the Company, following such withdrawal the Company shall (or shall cause the Agent to) deliver to the Participant certificates for any whole shares of Stock previously purchased by the
Participant and credited to Participant through book entry under Section 4(c), as promptly as practicable following such Participant’s withdrawal. Upon receipt of a Participant’s Withdrawal Election by the Company, the Participant
shall cease to participate in the Plan and the Participant’s Option for such Offering Period shall terminate. 
 (b)
Eligibility following Withdrawal. A Participant who withdraws from the Plan with respect to an Offering Period, and who is still an Eligible Employee, may elect to participate again in the Plan for any subsequent Offering Period by delivering to the
Company an Authorization pursuant to Section 3(b). 
 6. Termination of Employment. If the employment of a
Participant with the Company or a Designated Subsidiary terminates for any reason, other than by reason of the Participant’s death, the Participant’s participation in the Plan automatically shall terminate as of the date of the termination
of the Participant’s employment. In the event of a Participant’s death, the Option may be exercised by the Participant’s estate if the Option is transferred by will or the laws of descent and distribution, in accordance with
Section 7, and after such exercise, the Participant’s participation in the Plan shall terminate. If the Participant’s Option is not transferred to the Participant’s estate by will or the laws of descent and distribution, then
Participant’s participation in the Plan shall terminate as of the date of Participant’s death. As soon as practicable after the termination of the Participant’s participation in the Plan, the Company or Designated Subsidiary employing
the Participant shall pay to the Participant (or the Participant’s estate, if applicable) the amount credited to the Participant’s Account in one lump sum payment in cash, if applicable, without any interest thereon, and subject to
Section 17, the Company shall (or shall cause the Agent to) deliver to the Participant (or the Participant’s estate, if applicable) certificates for any whole shares of Stock purchased by the Participant, if applicable. On a
Participant’s termination of employment or death covered by this subsection, the Participant’s Authorization and Option under the Plan shall terminate. 
  

 7 

 7. Restriction upon Assignment. An Option granted under the Plan shall not be
transferable, other than by will or the laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. Other than the transfer of an Option by will or the laws or descent and distribution, the
Company shall not recognize and shall be under no duty to recognize any assignment or alienation of the Participant’s interest in the Plan, the Participant’s Option or any rights under the Participant’s Option. But, in the event of
the death of a Participant, the Company may recognize the transfers of an Option granted under the Plan or the right to apply pursuant to the operation of a will or the laws of descent or distribution. 
 8. No Rights of Stockholders until Shares Issued. With respect to shares of Stock subject to an Option, a Participant shall not be
deemed to be a stockholder of the Company, and the Participant shall not have any of the rights or privileges of a stockholder, until such shares have been issued to the Participant following exercise of the Participant’s Option. No adjustments
shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date occurs before the date of such issuance, except as otherwise expressly provided herein
or by the Committee. 
 9. Changes in the Stock and Corporate Events; Adjustment of Options. 
 (a) Subject to Section 9(c), in the event that the Committee, in its sole discretion, determines that any dividend or other distribution
(whether in the form of cash, Stock, other securities, or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, liquidation,
dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or exchange of Stock or other securities of the Company, issuance of warrants or other rights to purchase Stock or other
securities of the Company, or other similar corporate transaction or event, affects the Stock such that an adjustment is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available
under the Plan or with respect to an Option, then the Committee shall, in such manner as it may deem equitable, adjust any or all of: 
 (1) the number and kind of shares of Stock (or other securities or property) with respect to which Options may be granted (including, but not limited to, adjustments of the limitation in Section 3(a) on the maximum number of shares of
Stock which may be purchased), 
 (2) the number and kind of shares of Stock (or other securities or property) subject to
outstanding Options, and 
 (3) the Option Price with respect to any Option. 
 (b) Subject to Section 9(c), in the event of any transaction or event described in Section 9(a) or any unusual or nonrecurring
transactions or events affecting the Company, any Subsidiary of the Company, or the financial statements of the Company or any Subsidiary, or of changes in applicable laws, regulations, or accounting principles, the Committee, in its sole

  

 8 

 
discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Option or by action taken before the occurrence of such transaction or event and either
automatically or upon the Participant’s request, is hereby authorized to take any one or more of the following actions whenever the Committee determines that such action is appropriate in order to prevent dilution or enlargement of the benefits
or potential benefits intended to be made available under the Plan or with respect to any Option under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles: 
 (1) To provide that all Options outstanding shall terminate without being exercised on such date as the Committee determines in its sole
discretion; 
 (2) To provide that all Options outstanding shall be exercised before the Date of Exercise of such Options on
such date as the Committee determines in its sole discretion and such Options shall terminate immediately after such exercises; 
 (3) To provide for either the purchase of any Option outstanding for an amount of cash equal to the amount that could have been obtained upon the exercise of such Option had such Option been currently exercisable and shares issued
thereunder sold, or the replacement of such Option with other rights or property selected by the Committee in its sole discretion; 
 (4) To provide that such Option be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, covering the stock of the successor or survivor corporation, or a parent
or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; and 
 (5) To make
adjustments in the number and type of shares of Stock (or other securities or property) subject to outstanding Options, or in the terms and conditions of outstanding Options, or Options which may be granted in the future. 
 (c) No adjustment or action described in this Section 9 or in any other provision of the Plan shall be authorized to the extent that
such adjustment or action would cause the Plan to fail to satisfy the requirements of Section 423 of the Code. Furthermore, no such adjustment or action shall be authorized to the extent such adjustment or action would result in short-swing
profits liability under Section 16 of the Exchange Act, or violate the exemptive conditions of Rule I 6b-3 unless the Committee determines that the Option is not to comply with such exemptive conditions. 
 (d) The existence of the Plan and the Options granted hereunder shall not affect or restrict in any way the right or power of the Company or
the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of stock or of
options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Stock or the rights thereof of which are convertible into or exchangeable for Stock, 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. 
  

 9 

 10. Use of Funds; No interest Paid. All funds received or held by the Company under
the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose. No interest will be paid to any Participant or credited to any Participant’s Account with respect
to such funds. 
 11. Amendment, Suspension or Termination of the Plan. 
 (a) The Board or the Committee may amend, suspend, or terminate the Plan at any time and from time to time, provided that approval by the
Company’s stockholders shall be required to amend the Plan: (1) to increase (other than an increase pursuant to Section 9(a)) the number of shares of Stock that may be sold pursuant to Options under the Plan, or (2) in any manner
that would cause the Plan to no longer be an “employee stock purchase plan” within the meaning of Section 423(b) of the Code. Without stockholder consent and without regard to whether any Participant rights may be considered to have
been “adversely affected,” the Board or the Committee, as applicable, shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange
ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly
completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Stock for each participant properly correspond with amounts
withheld from the Participant’s Compensation, and establish such other limitations or procedures as the Board or the Committee, as applicable, determines in its sole discretion advisable which are consistent with the Plan and Section 423
of the Code. 
 (b) In the event the Board or the Committee, as applicable, determines that the ongoing operation of the Plan
may result in unfavorable financial accounting consequences, the Board or the Committee, as applicable, may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence
including, but not limited to: 
 (1) altering, but not reducing, the Option Price for any Offering Period including an
Offering Period underway at the time of the change in Offering Price; 
 (2) shortening any Offering Period so that the
Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of such action; and 
 (3)
allocating shares. 
 Such modifications or amendments shall not require stockholder approval or the consent of any Plan participants.

  

 10 

 12. Administration by Committee; Rules and Regulations. 
 (a) Appointment of Committee. The Plan shall be administered by the Committee, which shall be composed of members of the Board. Each member
of the Committee shall serve for a term commencing on a date specified by the Board and continuing until the member dies, resigns or is removed from office by the Board. The Committee at its option may utilize the services of an Agent and/or
employees of the Company to assist in the administration of the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant. 
 (b) Duties and Powers of Committee. It shall be the duty of the Committee to conduct the general administration of the Plan in accordance
with the provisions of the Plan. The Committee shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 
 (1) To determine when and how Options shall be granted and the provisions and terms of each Offering Period (which need not be identical), 
 (2) To select Designated Subsidiaries in accordance with Section 13. 
 (3) To construe and interpret the Plan and the terms of the Options and to adopt such rules for the administration, interpretation, and
application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Committee, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it
shall deem necessary or expedient to make the Plan fully effect, subject to Section 423 of the Code and the regulations promulgated thereunder. 
 The Committee may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality
of the foregoing, the Committee is specifically authorized to adopt rules and procedures regarding handling of payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock
certificates which vary with local requirements. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan. 
 (c) Sub-Plans. The Committee may adopt sub-plans applicable to particular Designated Subsidiaries or locations, which sub-plans may be
designed to be outside the scope of Code Section 423. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Paragraph 2 above, but unless otherwise superseded by the terms of such sub-plan,
the provisions of this Plan shall govern the operation of such sub-plan. 
 (d) Compensation; Professional Assistance; Good
Faith Actions. All expenses and liabilities incurred by members of the Committee in connection with the administration of the Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants, appraisers, brokers or
other persons. The Committee, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee in
good faith shall be final and binding upon all Participants, the Company and all other

  

 11 

 
interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Options, and all
members of the Committee shall be fully protected by the Company in respect to any such action, determination, or interpretation. 
 13. Designation of Subsidiary Corporations. The Board or the Committee shall designate from among the Subsidiary Corporations, as determined from time to time, the Subsidiary Corporation or Subsidiary Corporations whose Employees
shall be eligible to be granted Options under the Plan. The Board or the Committee may designate a Subsidiary Corporation, or terminate the designation of a Subsidiary Corporation, without the approval of the stockholders of the Company. 

14. No Rights as an Employee. Nothing in the Plan shall be construed to give any person (including any Participant) the right to
remain in the employ of the Company, a Parent Corporation or a Subsidiary Corporation or to affect the right of the Company, any Parent Corporation or any Subsidiary Corporation to terminate the employment of any person (including any Participant)
at any time, with or without cause, which right is expressly reserved. 
 15. Term; Approval by
Stockholders. Subject to approval by the stockholders of the Company in accordance with this Section, the Plan shall be in effect until September 29, 2019, unless sooner terminated in accordance with Section 11. No Option may be
granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the Company’s stockholders within twelve months after the date of the adoption of the Plan by the Board.
Options may be granted before such stockholder approval; provided, however, that such Options shall not be exercisable before the time when the Plan is approved by the Company’s stockholders; and, provided, further, that if such approval has
not been obtained by the end of said 12-month period, all Options previously granted under the Plan shall thereupon terminate without being exercised. 
 16. Effect upon Other Plans. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company, any Parent Corporation or any Subsidiary Corporation.
Nothing in this Plan shall be construed to limit the right of the Company, any Parent Corporation or any Subsidiary Corporation to: (a) establish any other forms of incentives or compensation for employees of the Company, any Parent Corporation
or any Subsidiary Corporation or (b) grant or assume options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options in connection with the
acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 
 17. Conditions to Issuance of Stock Certificates. The Company shall not be required to issue or deliver any certificate or certificates for shares of Stock purchased upon the exercise of Options
before fulfillment of all the following conditions: 
 (a) The admission of such shares to listing on all stock exchanges, if
any, on which is then listed; and 
  

 12 

 (b) The completion of any registration or other qualification of such shares under any state
or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; and 
 (c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its
absolute discretion, determine to be necessary or advisable; and 
 (d) The payment to the Company of all amounts which it is
required to withhold under federal, state or local law upon exercise of the Option; and 
 (e) The lapse of such reasonable
period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience. 
 18. Notification of Disposition. Each Participant shall give prompt notice to the Company of any disposition or other transfer of any shares of Stock purchased upon exercise of an Option if such
disposition or transfer is made: (a) within two years from the Date of Grant of the Option, or (b) within one year after the transfer of such shares of Stock to such Participant upon exercise of such Option. Such notice shall specify the
date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by the Participant in such disposition or other transfer. 
 19. Notices. Any notice to be given under the terms of the Plan to the Company shall be addressed to the Company in care of its
Secretary and any notice to be given to any Participant shall be addressed to such Participant at such Participant’s last address as reflected in the Company’s records. By a notice given pursuant to this Section, either party may designate
a different address for notices to be given to it, him or her. Any notice which is required to be given to a Participant shall, if the Participant is then deceased, be given to the Participant’s personal representative if such representative
has previously informed the Company of his status and address by written notice under this Section. Any notice shall have been deemed duly given if provided through an electronic means such as email or facsimile or if enclosed in a properly sealed
envelope or wrapper addressed as aforesaid at the time it is deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 
 20. Additional Restrictions of Rule 16b-3. The terms and conditions of options granted hereunder to, and the purchase of shares by,
persons subject to Section 16 of the Exchange Act will comply with the applicable provisions of Rule 16b-3. This Plan will be deemed to contain, and such options will contain, and the shares issued upon exercise thereof will be subject to, such
additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption from Section 16 of the Exchange Act with respect to Plan transactions. 
  

 13 

 21. Equal Rights and Privileges. Except with respect to sub-plans designed to be
outside the scope of Code Section 423, all Eligible Employees of the Company (or of any Designated Subsidiary) will have equal rights and privileges under this Plan to the extent required under Section 423 of the Code or applicable
Treasury regulations thereunder so that this Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code or applicable Treasury regulations thereunder. Any provision of this Plan that is
inconsistent with Section 423 or applicable Treasury regulations will, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges requirement of Section 423 or applicable
Treasury regulations. 
 22. Electronic Forms. To the extent permitted by applicable state law and in the discretion of
the Committee, an Eligible Employee may submit any form or notice as set forth herein by means of an electronic form approved by the Committee (“Electronic Form”). Before the commencement of an Offering Period, the Committee shall
prescribe the time limits within which any such Electronic Form shall be submitted to the Committee with respect to such Offering Period in order to be a valid election. 
 23. Headings. Headings are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Plan. 
 I hereby certify that the ResMed Inc. 2009 Employee Stock Purchase Plan, as amended, was adopted by the Board of Directors of ResMed Inc. on
September 30, 2009. 
  

 14 

 ATTACHMENT 1 
 Participating Entities 
 ResMed Inc. and each of the entities listed
below will participate in the 2009 Employee Stock Purchase Plan, as amended: 
 ResMed Corp. (a Minnesota corporation) 
 ResMed US Assembly Inc. (a Delaware corporation) 
 ResMed (UK) Limited (a United Kingdom corporation) * 
 ResMed (EPN) Limited (a United Kingdom corporation) * 
 ResMed Asia Pacific Limited (incorporated under the laws of New South Wales, Australia) * 
 ResMed Finland OY (a Finland corporation) * 
 ResMed Hong Kong Limited (a Hong Kong corporation) *

 ResMed Germany Inc. (a Delaware corporation, formerly ResMed International Inc.) * 
 ResMed KK (a Japanese corporation) * 
 ResMed
Limited (incorporated under the laws of New South Wales, Australia) * 
 ResMed Asia Operations Pty Ltd (incorporated under the laws of New South
Wales, Australia) * 
 ResMed New Zealand Limited (a New Zealand Corporation) * 
 ResMed GmbH and Co KG (a German corporation) * 
 ResMed SAS (a French corporation) * 
 ResMed Sweden AB (a Swedish corporation) * 
 ResMed Motor Technologies Inc. (a Delaware corporation) (Formerly Servo Magnetics Inc.) * 
 ResMed Schweiz AG (A Swiss corporation, formerly Labhardt AG) * 
 MAP Medizin-Technologie GmbH (a
German corporation) * 
 Take Air Medical Handels GmbH (a German corporation) * 
 ResMed Medizintechnik GmbH (a German corporation) * 
 ResMed Norway AS (a Norwegian corporation,
formerly PolarMed AS) * 
 ResMed Paris SAS (a French corporation) * 
 ResMed India Private Ltd * 
  
  

	*	These entities will participate through a sub-plan. 

 Compensation Committee Approval 
 Employee Stock Purchase Plan Administrative Matters 
 October 27, 2009 
  

 15 

 ATTACHMENT 2 
 THE 2009 SUB-PLAN OF 
 THE RESMED INC. 2009 EMPLOYEE
STOCK PURCHASE PLAN 
 BACKGROUND 
 ResMed Inc. (the “Company”) has previously adopted, and its shareholders have approved, The ResMed Inc. 2009 Employee Stock Purchase Plan, as may be amended from time to time (the “ResMed
ESPP”). A copy of the ResMed ESPP is attached hereto as Attachment A. 
 The ResMed ESPP authorizes the Compensation Committee of
the Board of Directors of the Company (the “Compensation Committee”) to adopt sub-plans in order to ensure that the terms of the ResMed ESPP, as applicable to non-U.S. subsidiaries designated as participating subsidiaries, comply with
applicable foreign law. This 2009 Sub-Plan is intended to supersede and replace the ResMed German Partnerships Employee Stock Purchase Plan (the “German ESPP”). 
 PLAN ADOPTION 
 The Company hereby adopts the 2009 Sub-Plan of The ResMed
Inc. 2009 Employee Stock Purchase Plan (the “2009 Sub-Plan”) as a sub-plan of the ResMed ESPP, as such 2009 Sub-Plan may be amended by the Compensation Committee from time to time, with such non-material changes herein and modifications
hereto as any officer of the Company may, in his or her sole discretion approve, including changes to address specific issues in various local foreign jurisdictions, which approval shall be conclusively evidenced by the execution hereof. Capitalized
terms not defined herein shall have the meanings given to such terms in the ResMed ESPP. This 2009 Sub-Plan hereby supersedes and replaces the ResMed German Partnerships Employee Stock Purchase Plan (the “German ESPP”). 
  

	 	A.	Purposes. The purposes of the 2009 Sub-Plan are as follows: 

  

	 	1.	To assist Eligible Employees of the Company and certain of its Designated Subsidiaries (as defined in the 2009 Sub-Plan) in acquiring stock ownership in the Company
pursuant to a plan that is not intended to qualify as an “employee stock purchase plan,” within the meaning of Section 423 of the U.S. Internal Revenue Code of 1986, as amended. 

  

	 	2.	To help such Eligible Employees provide for their future security and to encourage them to remain in the employment of the Company and its subsidiaries.

  

	 	B.	Subsidiary Corporations. 

  

	 	1.	Description. The entities listed in Section B.2 below are corporate or non-corporate entities in which the Company has a direct or indirect equity interest or
significant business relationship. The following designations shall apply to all of those entities: 

  

	 	a.	Each entity is designated as a “Subsidiary Corporation” under Section 1(x) of the ResMed ESPP and the 2009 Sub-Plan; 

  

 16 

	 	b.	Each entity is a “Designated Subsidiary” under Section 1(k) of the ResMed ESPP; and 

  

	 	c.	This 2009 Sub-Plan, and not the ResMed ESPP, shall govern the terms on which the employees of those entities may participate in the 2009 Sub-Plan.

  

	 	2.	Subsidiaries. Each of the entities listed on Attachment 1 to the ResMed ESPP (as such Attachment 1 may be amended from time to time) and located outside of the
United States is hereby designated as a participating subsidiary in the 2009 Sub-Plan. 

  

	 	3.	The designation of subsidiaries as set forth herein is not exclusive. The Compensation Committee reserves the right to modify or revoke these designations, and to
designate other subsidiaries under the 2009 Sub-Plan, from time to time and in its sole discretion. 

  

	 	C.	Terms. A copy of the ResMed ESPP is attached hereto as Attachment A and incorporated herein by reference as if set out in full. The terms of the 2009
Sub-Plan are the same as those in Sections 1 through 23, inclusive, of the ResMed ESPP, except as otherwise specified in this Section C: 

  

	 	1.	ResMed (EPN) Limited and ResMed Hong Kong Limited. Under Section 3(b) of the ResMed ESPP, an Eligible Employee who is employed by ResMed (EPN) Limited or
ResMed Hong Kong Limited shall become a Participant only by means of direct cash contribution and shall not be permitted to participate in the 2009 Sub-Plan by means of payroll deduction, in accordance with local law. Accordingly, all references to
“payroll deduction” in the ResMed ESPP shall be replaced by “direct cash contribution” with respect to such Eligible Employees. 

  

	 	2.	ResMed Limited and ResMed Asia Pacific Limited. Under Section 5(a) of the ResMed ESPP, an Eligible Employee who is employed by ResMed Limited or ResMed Asia
Pacific Limited shall be permitted to withdraw from the 2009 Sub-Plan not later than the last day of the Offering Period, in accordance with local law. 

 This 2009 Sub-Plan has been adopted by the Compensation Committee on October 27, 2009. 
  

	
	 /s/ David Pendarvis

	David Pendarvis, Secretary

  

 17

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