Document:

2012 Equity Incentive Plan

 Exhibit 10.2.1 
 AMBARELLA, INC. 
 2012 EQUITY INCENTIVE PLAN 

1.        Purposes of the Plan.    The purposes of this Equity Incentive Plan are to
attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Service Providers and to promote the success of the Company’s business. 

Awards to Service Providers granted hereunder may be Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted
Stock Units, Stock Appreciation Rights, Performance Shares, Performance Units, Deferred Stock Units or Dividend Equivalents, at the discretion of the Administrator and as reflected in the terms of the written option agreement. 

2.        Definitions.    As used herein, the following definitions shall apply:

 (a)    “Administrator” shall mean the Board or any of its Committees as shall be
administering the Plan, in accordance with Section 4 of the Plan. 
 (b)    “Applicable
Laws” shall mean the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Ordinary Shares
are listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c)    “Award” shall mean, individually or collectively, a grant under the Plan of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted
Stock Units, Stock Appreciation Rights, Performance Shares, Performance Units, Deferred Stock Units or Dividend Equivalents. 

(d)    “Award Agreement” shall mean the written or electronic agreement setting forth the terms and
provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (e)    “Awarded Stock” shall mean the Ordinary Shares subject to an Award. 
 (f)     “Board” shall mean the Board of Directors of the Company. 
 (g)    “Change in Control” means the occurrence of any of the following events: 
 (i)        A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however,
that for purposes of this subsection (i), the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in
Control; or 

 (ii)        A change in the effective control of the
Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of
the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control;
or 
 (iii)        A change in the ownership of a substantial portion of the
Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total
gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this
subsection (iii), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s shareholders immediately after the
transfer, or (B) a transfer of assets by the Company to: (1) a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or
more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock
of the Company, or (4) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross
fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this Section 2(g), persons will be considered to be acting as a group if they are owners of a corporation that
enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

(h)        “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended.
Reference to a specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending,
supplementing or superseding such section or regulation. 

(i)        “Committee” shall mean the Committee appointed by the Board of
Directors or a sub-committee appointed by the Board’s designated committee in accordance with Section 4(a) of the Plan, if one is appointed. 
 (j)        “Company” shall mean Ambarella, Inc. 
 (k)       “Consultant” shall mean any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services and who is
compensated for such services; provided, however, that the term “Consultant” shall not include Outside Directors, unless such 

  
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Outside Directors are compensated for services to the Company other than pursuant to their services as a Director. 
 (l)          “Continuous Status as a Director” means that the Director relationship is not interrupted or terminated. 

(m)        “Director” shall mean a member of the Board. 

(n)         “Disability” means total and permanent disability as defined in
Section 22(e)(3) of the Code. 
 (o)         “Dividend
Equivalent” shall mean a credit, payable in cash, made at the discretion of the Administrator, to the account of a Participant in an amount equal to the cash dividends paid on one Share for each Share represented by an Award held by such
Participant. Dividend Equivalents shall be subject to the same vesting restrictions as the related Shares subject to an Award. 
 (p)        “Employee” shall mean any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. An
Employee shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, any Subsidiary, or any successor. For
purposes of Incentive Stock Options, no such leave may exceed ninety days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not
so guaranteed, then six (6) months following the first (1st) day of such leave any Incentive Stock Option held by the Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option.

 (q)        “Exchange Act” shall mean the U.S. Securities Exchange Act
of 1934, as amended. 
 (r)         “Exchange Program” means a
program under which (i) outstanding Awards are surrendered or cancelled in exchange for Awards of the same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash,
(ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced. The
Administrator will determine the terms and conditions of any Exchange Program in its sole discretion. 

(s)        “Fair Market Value” shall mean as of any date, the value of the
Ordinary Shares determined as follows: 
 (i)        If the Ordinary Shares are listed on
any established stock exchange or a national market system, including without limitation the Nasdaq Global Market, the Nasdaq Global Select Market or the Nasdaq Capital Market of the Nasdaq Stock Market, its Fair Market Value shall be the closing
sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day prior to the time of 

  
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determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable or shall be such other value determined in good faith by the Administrator;

 (ii)        If the Ordinary Shares are regularly quoted by a recognized securities
dealer but selling prices are not reported, the Fair Market Value of an Ordinary Share shall be the mean between the high bid and low asked prices for the Ordinary Shares on the last market trading day prior to the day of determination, as reported
in The Wall Street Journal or such other source as the Administrator deems reliable or shall be such other value determined in good faith by the Administrator; 
 (iii)        For purposes of any Awards granted on the Registration Date, the Fair Market Value shall be the initial price to the public as set forth in the final
prospectus included within the registration statement in Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Company’s Ordinary Shares; or 

(iv)        In the absence of an established market for the Ordinary Shares, the Fair Market Value
shall be determined in good faith by the Administrator. 

(t)         “Fiscal Year” shall mean a fiscal year of the Company.

 (u)        “Incentive Stock Option” shall mean an Option intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code. 

(v)        “Nonstatutory Stock Option” shall mean an Option that by its terms
does not qualify or is not intended to qualify as an Incentive Stock Option. 

(w)       “Officer” shall mean a person who is an officer of the Company within the
meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(x)        “Option” shall mean a stock option granted pursuant to the Plan.

 (y)        “Optioned Stock” shall mean the Ordinary Shares
subject to an Option. 
 (z)        “Ordinary Shares” shall mean the
Ordinary Shares of the Company. 
 (aa)      “Outside Director” means a Director
who is not an Employee or Consultant. 
 (bb)      “Parent” shall mean a
“parent corporation”, whether now or hereafter existing, as defined in Section 424(e) of the Code. 

(cc)      “Participant” shall mean the holder of an outstanding Award. 

(dd)      “Performance Goals” means the goal(s) (or combined goal(s)) determined by the
Administrator (in its discretion) to be applicable to a Participant with respect to an Award. As determined by the Administrator, the performance measures for any performance period will be any one or more of the following objective performance
criteria, applied to either the Company 

  
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as a whole or, except with respect to shareholder return metrics, to a region, business unit, affiliate or business segment, and measured either on an absolute basis or relative to a
pre-established target, to a previous period’s results or to a designated comparison group, and, with respect to financial metrics, which may be determined in accordance with United States Generally Accepted Accounting Principles
(“GAAP”), in accordance with accounting principles established by the International Accounting Standards Board (“IASB Principles”) or which may be adjusted when established to exclude any items otherwise includable under GAAP or
under IASB Principles or to include any items otherwise excludable under GAAP or under IASB Principles: (i) cash flow (including operating cash flow or free cash flow), (ii) revenue (on an absolute basis or adjusted for currency effects),
(iii) gross margin, (iv) operating expenses or operating expenses as a percentage of revenue, (v) earnings (which may include earnings before interest and taxes, earnings before taxes and net earnings), (vi) earnings per share,
(vii) stock price, (viii) return on equity, (ix) total shareholder return, (x) growth in shareholder value relative to the moving average of the S&P 500 Index or another index, (xi) return on capital, (xii) return
on assets or net assets, (xiii) return on investment, (xiv) economic value added, (xv) operating profit or net operating profit, (xvi) operating margin, (xvii) market share, (xviii) contract awards or backlog,
(xix) overhead or other expense reduction, (xx) credit rating, (xxi) objective customer indicators, (xxii) new product invention or innovation, (xxiii) attainment of research and development milestones,
(xxiv) improvements in productivity, (xxv) attainment of objective operating goals, and (xxvi) objective employee metrics. 
 (ee)        “Performance Share” shall mean a performance share Award granted to a Participant pursuant to Section 13. 

(ff)         “Performance Unit” means a performance unit Award granted to a
Participant pursuant to Section 14. 
 (gg)        “Plan” shall
mean this 2012 Equity Incentive Plan, as may be amended from time to time. 

(hh)        “Registration Date” means the effective date of the first
registration statement that is filed by the Company and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company’s securities. 

(ii)         “Restricted Stock” shall mean a restricted stock Award granted
to a Participant pursuant to Section 11. 
 (jj)         “Restricted
Stock Unit” shall mean a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 12. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

 (kk)       “Rule 16b-3” shall mean Rule 16b-3 of the Exchange Act or any
successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

(ll)         “Section 16(b)” shall mean Section 16(b) of the
Exchange Act. 
 (mm)     “Service Provider” means an Employee, Director or Consultant.

  
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 (nn)        “Share” shall mean an
Ordinary Share, as adjusted in accordance with Section 19 of the Plan. 

(oo)        “Stock Appreciation Right” or “SAR” shall mean a
stock appreciation right granted pursuant to Section 8 of the Plan. 

(pp)        “Subsidiary” shall mean a “subsidiary corporation”, whether
now or hereafter existing, as defined in Section 424(f) of the Code. 

3.        Stock Subject to the Plan. 

(a)        Initial Reserve.    Subject to the provisions of
Section 19 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is 1,104,445 Shares, plus (i) any Shares that, as of the Registration Date, have been reserved but not issued under the Company’s 2004
Stock Plan (the “2004 Plan”) that are not subject to any awards granted thereunder, and (ii) any Shares subject to stock options or similar awards granted under the 2004 Plan that, after the Registration Date, expire or otherwise
terminate without having been exercised in full and Shares issued pursuant to awards granted under the 2004 Plan that are forfeited to or repurchased by the Company, with the maximum number of Shares to be added to the Plan pursuant to clauses
(i) and (ii) equal to 4,991,400 Shares. The Shares may be authorized, but unissued, or reacquired Ordinary Shares. 

(b)        Automatic Share Reserve Increase.    The number of Shares
available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2014 Fiscal Year, in an amount equal to the least of (i) 3,500,000 Shares, (ii) four and one-half percent (4.5%) of the
outstanding Shares on the last day of the immediately preceding Fiscal Year or (iii) such lesser number of Shares determined by the Board. 
 (c)        Lapsed Awards.    If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant
to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for
Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares), which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock
Appreciation Rights, only Shares actually issued (i.e., the net Shares issued) pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future
grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided,
however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited to the Company, such Shares will become
available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under the Plan. To the extent

  
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an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the
foregoing and, subject to adjustment as provided in Section 19, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent
allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3(b) and 3(c). 

(d)        Share Reserve.    The Company, during the term of this
Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 

4.        Administration of the Plan. 

(a)        Procedure. 

(i)        Multiple Administrative Bodies.    If permitted by
Applicable Laws, the Plan may be administered by different bodies with respect to Directors, Officers who are not Directors, and Employees who are neither Directors nor Officers. 

(ii)        Section 162(m).    To the extent that the
Administrator determines it to be desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan shall be administered by a Committee consisting solely of
two or more “outside directors” within the meaning of Section 162(m) of the Code. 

(iii)        Administration With Respect to Officers Subject to
Section 16(b).    With respect to Option grants made to Employees who are also Officers subject to Section 16(b) of the Exchange Act, the Plan shall be administered by (A) the Board, if the Board may
administer the Plan in compliance with Rule 16b-3, or (B) a committee designated by the Board to administer the Plan, which committee shall be constituted to comply with Rule 16b-3. Once appointed, such Committee shall continue to
serve in its designated capacity until otherwise directed by the Board. From time to time the Board may increase the size of the Committee and appoint additional members, remove members (with or without cause) and substitute new members, fill
vacancies (however caused), and remove all members of the Committee and thereafter directly administer the Plan, all to the extent permitted by Rule 16b-3. 
 (iv)        Administration With Respect to Other Persons.    With respect to Award grants made to Employees or Consultants who are not
Officers of the Company, the Plan shall be administered by (A) the Board, (B) a committee designated by the Board, or (C) a sub-committee designated by the designated committee, which committee or sub-committee shall be constituted to
satisfy Applicable Laws. Once appointed, such Committee shall serve in its designated capacity until otherwise directed by the Board. The Board may increase the size of the Committee and appoint additional members, remove members (with or without
cause) and substitute new members, fill vacancies (however caused), and remove all members of the 

  
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Committee and thereafter directly administer the Plan, all to the extent permitted by Applicable Laws. 
 (v)        Administration With Respect to Outside Directors.    Any discretionary Award grants to Outside Directors shall be made by the
Board or a committee thereof. The Board or a committee thereof shall administer the Plan with respect to Outside Director Awards. 
 (b)        Powers of the Administrator.    Subject to the provisions of the Plan, and in the case of a Committee, subject
to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 

(i)        to determine the Fair Market Value in accordance with Section 2(s) of the Plan;

 (ii)       to select the Service Providers to whom Awards may be granted hereunder;

 (iii)      to determine whether and to what extent Awards are granted hereunder; 

(iv)      to determine the number of Ordinary Shares to be covered by each Award granted hereunder;

 (v)       to approve forms of agreement for use under the Plan; 

(vi)      to determine the terms and conditions of any, and to institute any Exchange Program; 

(vii)     to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award
granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards vest or may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture
restrictions (subject to compliance with applicable laws, including Code Section 409A), and any restriction or limitation regarding any Award or the Ordinary Shares relating thereto, based in each case on such factors as the Administrator, in
its sole discretion, shall determine; 
 (viii)     to construe and interpret the terms of the Plan and
Awards granted pursuant to the Plan; 
 (ix)       to prescribe, amend and rescind rules and
regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of qualifying for preferred tax treatment under foreign tax laws; 

(x)        to modify or amend each Award (subject to Section 6 and Section 22(c) of
the Plan), including the discretionary authority to extend the post-termination exercisability period of Options or SARs longer than is otherwise provided for in the Plan (but in no event more than ten years from the grant date); 

  
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 (xi)         to allow Participants to satisfy
withholding tax obligations by electing to have the Company withhold from the Shares or cash to be issued upon exercise or vesting of an Award that number of Shares or cash having a Fair Market Value equal to the amount required to be withheld. The
Fair Market Value of any Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by a Participant to have Shares or cash withheld for this purpose shall be made in such form and
under such conditions as the Administrator may deem necessary or advisable; 

(xii)         to authorize any person to execute on behalf of the Company any instrument
required to effect the grant of an Award previously granted by the Administrator; 

(xiii)        to determine the terms and restrictions applicable to Awards; 

(xiv)        to determine whether Awards (other than Options or SARs) will be adjusted for
Dividend Equivalents; and 
 (xv)         to make all other determinations deemed
necessary or advisable for administering the Plan. 

(c)        Delegation.    The Board may delegate responsibility for
administering the Plan, including with respect to designated classes of Employees and Consultants, to different committees consisting of one or more Directors subject to such limitations as the Board deems appropriate. To the extent consistent with
applicable law, the Board or the Compensation Committee may authorize one or more officers of the Company to grant Awards to designated classes of Employees and Consultants, within limits specifically prescribed by the Board or the Compensation
Committee; provided, however, that no such officer shall have or obtain authority to grant Awards to himself or herself or to other Company executive officers. 
 (i)        Effect of Administrator’s Decision.    All decisions, determinations and interpretations of the Administrator
shall be final and binding on all Participants and any other holders of any Awards granted under the Plan. 

5.        Eligibility.    Awards may be granted only to Service Providers. Incentive
Stock Options may be granted only to Employees. A Service Provider who has been granted an Award may, if he or she is otherwise eligible, be granted an additional Award or Awards. 
 6.        Code Section 162(m) Provisions. 
 (a)        Option and SAR Annual Share Limit.    No Participant shall be granted, in any Fiscal Year, Options and Stock Appreciation
Rights to purchase more than 2,000,000 Shares; provided, however, that such limit shall be 4,000,000 Shares in the Participant’s first Fiscal Year of Company service. 
 (b)        Restricted Stock, Performance Share and Restricted Stock Unit Annual Limit.    No Participant shall be granted, in any Fiscal
Year, more than 1,500,000 Shares in the aggregate of the following: (i) Restricted Stock, (ii) Performance Shares, or (iii) Restricted Stock Units; 

  
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provided, however, that such limit shall be 3,000,000 Shares in the Participant’s first Fiscal Year of Company service. 

(c)        Performance Units Annual Limit.    No Participant shall
receive Performance Units, in any Fiscal Year, having an initial value greater than $2,000,000, provided, however, that such limit shall be $4,000,000 in the Participant’s first Fiscal Year of Company service. 

(d)        Section 162(m) Performance Restrictions.    For
purposes of qualifying grants of Restricted Stock, Performance Shares, Performance Units or Restricted Stock Units as “performance-based compensation” under Section 162(m) of the Code, the Administrator, in its discretion, may set
restrictions based upon the achievement of Performance Goals. The Performance Goals shall be set by the Administrator on or before the latest date permissible to enable the Restricted Stock, Performance Shares, Performance Units or Restricted Stock
Units to qualify as “performance-based compensation” under Section 162(m) of the Code. In granting Restricted Stock, Performance Shares, Performance Units or Restricted Stock Units which are intended to qualify under
Section 162(m) of the Code, the Administrator shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section 162(m) of the Code (e.g., in determining the
Performance Goals). 
 (e)        Changes in
Capitalization.    The numerical limitations in Sections 6(a) and (b) shall be adjusted proportionately in connection with any change in the Company’s capitalization as described in Section 19(a).

 7.        Stock Options. 

(a)        Type of Option.    Each Option shall be designated in the
Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designations, to the extent that the aggregate Fair Market Value of Shares subject to a Participant’s incentive stock options
granted by the Company, any Parent or Subsidiary, that become exercisable for the first time during any calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess Options shall be treated as
Nonstatutory Stock Options. For purposes of this Section 7(a), incentive stock options shall be taken into account in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the time of grant.

 (b)        Term of Option.    The term of each Option shall
be stated in the Notice of Grant; provided, however, that the term shall be ten (10) years from the date of grant or such shorter term as may be provided in the Notice of Grant. Moreover, in the case of an Incentive Stock Option granted to a
Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the
Incentive Stock Option shall be five (5) years from the date of grant or such shorter term as may be provided in the Notice of Grant. 

  
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 (c)    Exercise Price and Consideration. 

(i)        The per Share exercise price for the Shares to be issued pursuant to exercise of an
Option shall be such price as is determined by the Administrator, but shall be subject to the following: 

(A)        In the case of an Incentive Stock Option granted to an Employee who, at the time the
Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair
Market Value per Share on the date of grant. 
 (B)        In the case of any other
Incentive Stock Option and any Nonstatutory Stock Option, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. 
 (C)        Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than 100% of the Fair Market Value per Share on the date of
grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 

(d)        The consideration to be paid for the Shares to be issued upon exercise of an Option,
including the method of payment, shall be determined by the Administrator. Such consideration, to the extent permitted by Applicable Laws, may consist entirely of: 
  

	 	(i)	cash; 

  

	 	(ii)	check; 

  

	 	(iii)	other Shares which have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised;

  

	 	(iv)	broker-assisted cashless exercise; 

  

	 	(v)	any combination of the foregoing methods of payment; or 

  

	 	(vi)	such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws. 

8.        Stock Appreciation Rights. 

(a)        Grant of SARs.    Subject to the terms and conditions of the
Plan, SARs may be granted to Participants at any time and from time to time as shall be determined by the Administrator, in its sole discretion. Subject to Section 6(a) hereof, the Administrator shall have complete discretion to determine the
number of SARs granted to any Participant. 

  
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 (b)        Exercise Price and other
Terms.    The per share exercise price for the Shares to be issued pursuant to exercise of an SAR shall be determined by the Administrator and shall be no less than 100% of the Fair Market Value per share on the date of
grant. Otherwise, subject to Section 6(a) of the Plan, the Administrator, subject to the provisions of the Plan, shall have complete discretion to determine the terms and conditions of SARs granted under the Plan; provided, however, that no SAR
may have a term of more than ten (10) years from the date of grant. 

(c)        Payment of SAR Amount.    Upon exercise of a SAR, a
Participant shall be entitled to receive payment from the Company in an amount determined by multiplying: 

(i)        The difference between the Fair Market Value of a Share on the date of exercise over
the exercise price; times 
 (ii)        The number of Shares with respect to which the
SAR is exercised. 
 (d)        Payment upon Exercise of
SAR.    At the discretion of the Administrator, but only as specified in the Award Agreement, payment for a SAR may be in cash, Shares or a combination thereof. If the Award Agreement is silent as to the form of payment,
payment of the SAR may only be in Shares. 
 (e)        SAR
Agreement.    Each SAR grant shall be evidenced by an Award Agreement that shall specify the exercise price, the term of the SAR, the conditions of exercise, whether it may be settled in cash, Shares or a combination thereof,
and such other terms and conditions as the Administrator, in its sole discretion, shall determine. 

(f)        Expiration of SARs.    A SAR granted under the Plan shall
expire upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. 

9.        Exercise of Option or SAR. 

(a)        Procedure for Exercise; Rights as a
Shareholder.    Any Option or SAR granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator, including performance criteria with respect to the Company and/or the
Participant, and as shall be permissible under the terms of the Plan. 
 An Option or SAR may not be exercised for a fraction of
a Share. 
 An Option or SAR shall be deemed to be exercised when written notice of such exercise has been given to the Company
in accordance with the terms of the Option or SAR by the person entitled to exercise the Option or SAR and, with respect to Options only, full payment for the Shares with respect to which the Option is exercised has been received by the Company.
With respect to Options only, full payment may, as authorized by the Administrator, consist of any consideration and method of payment allowable under Section 7(d) of the Plan. Until the issuance (as evidenced by the appropriate entry on
the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to 

  
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the Optioned Stock, notwithstanding the exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is
issued, except as provided in Section 19 of the Plan. 

(b)        Termination of Status as a Service
Provider.    If a Participant ceases to serve as a Service Provider, other than upon their death or Disability, he or she may, but only within 90 days (or such other period of time as is determined by the Administrator and as
set forth in the Option or SAR Agreement) after the date he or she ceases to be a Service Provider, exercise his or her Option or SAR to the extent that he or she was entitled to exercise it at the date of such termination. To the extent that
he or she was not entitled to exercise the Option or SAR at the date of such termination, or if he or she does not exercise such Option or SAR (which he or she was entitled to exercise) within the time specified herein, the Option or SAR shall
terminate. 
 (c)        Disability.    If a Participant
ceases to be a Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her Option or SAR within such period of time as is specified in the Award Agreement to the extent the Option or SAR is vested on
the date of termination (but in no event later than the expiration of the term of such Option or SAR as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option or SAR shall remain exercisable for
twelve (12) months following the Participant’s termination. If, on the date of termination, the Participant is not vested as to his or her entire Option or SAR, the Shares covered by the unvested portion of the Option or SAR shall revert
to the Plan. If, after termination, the Participant does not exercise his or her Option or SAR within the time specified herein, the Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan. 

(d)        Death of Participant.    If a Participant dies while a
Service Provider, the Option or SAR may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement (but in no event may the option be exercised later than the expiration of the term set
forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by
the Participant, then such Option or SAR may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option or SAR is transferred pursuant to the Participant’s will or in accordance with the
laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option or SAR shall remain exercisable for twelve (12) months following Participant’s death. If the Option or SAR is not so exercised within
the time specified herein, the Option or SAR shall terminate, and the Shares covered by such Option or SAR shall revert to the Plan. 

10.        Automatic Grants to Outside Directors.    The Board or a Committee thereof
may institute, by resolution, automatic Award grants to new and to continuing members of the Board, with the number and type of such Awards, with such terms and conditions, and based upon such criteria, if any, as is determined by the Board or its
Committee, in their sole discretion. 

  
 -13-

 11.    Restricted Stock. 

(a)        Grant of Restricted Stock.    Subject to the terms and
conditions of the Plan, Restricted Stock may be granted to Participants at any time as shall be determined by the Administrator, in its sole discretion. Subject to Section 6(b) hereof, the Administrator shall have complete discretion to
determine (i) the number of Shares subject to a Restricted Stock award granted to any Participant, and (ii) the conditions that must be satisfied, which typically will be based principally or solely on continued provision of services but
may include a performance-based component, upon which is conditioned the grant, vesting or issuance of Restricted Stock. 

(b)        Other Terms.    The Administrator, subject to the provisions
of the Plan, shall have complete discretion to determine the terms and conditions of Restricted Stock granted under the Plan; provided that Restricted Stock may only be issued in the form of Shares. Restricted Stock grants shall be subject to the
terms, conditions, and restrictions determined by the Administrator at the time the stock or the restricted stock unit is awarded. The Administrator may require the recipient to sign a Restricted Stock Award agreement as a condition of the award.
Any certificates representing the Shares of stock awarded shall bear such legends as shall be determined by the Administrator. 

(c)        Restricted Stock Award Agreement.    Each Restricted Stock
grant shall be evidenced by an agreement that shall specify the purchase price (if any) and such other terms and conditions as the Administrator, in its sole discretion, shall determine; provided; however, that if the Restricted Stock grant has a
purchase price, such purchase price must be paid no more than ten (10) years following the date of grant. 

12.        Restricted Stock Units. 

(a)        Grant.    Restricted Stock Units may be granted at any time
and from time to time as determined by the Administrator. After the Administrator determines that it will grant Restricted Stock Units under the Plan, it shall advise the Participant in writing or electronically of the terms, conditions, and
restrictions related to the grant, including the number of Restricted Stock Units and the form of payout, which, subject to Section 6(b) hereof, may be left to the discretion of the Administrator. 

(b)        Vesting Criteria and Other Terms.    The Administrator shall
set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon
the achievement of Company-wide, business unit, or individual goals (including, but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. 

(c)        Earning Restricted Stock Units.    Upon meeting the
applicable vesting criteria, the Participant shall be entitled to receive a payout as specified in the Restricted Stock Unit Award Agreement. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in
its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout. 

  
 -14-

 (d)        Form and Timing of
Payment.    Payment of earned Restricted Stock Units shall be made as soon as practicable after the date(s) set forth in the Restricted Stock Unit Award Agreement. The Administrator, in its sole discretion, but only as
specified in the Award Agreement, may pay earned Restricted Stock Units in cash, Shares, or a combination thereof. If the Award Agreement is silent as to the form of payment, payment of the Restricted Stock Units may only be in Shares. 

(e)        Cancellation.    On the date set forth in the Restricted
Stock Unit Award Agreement, all unearned Restricted Stock Units shall be forfeited to the Company. 

13.        Performance Shares. 
 (a)        Grant of Performance Shares.    Subject to the terms and conditions of the Plan, Performance Shares may be granted to
Participants at any time as shall be determined by the Administrator, in its sole discretion. Subject to Section 6(b) hereof, the Administrator shall have complete discretion to determine (i) the number of Shares subject to a Performance
Share award granted to any Participant, and (ii) the conditions that must be satisfied, which typically will be based principally or solely on achievement of performance milestones but may include a service-based component, upon which is
conditioned the grant or vesting of Performance Shares. Performance Shares shall be granted in the form of units to acquire Shares. Each such unit shall be the equivalent of one Share for purposes of determining the number of Shares subject to an
Award. Until the Shares are issued, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the units to acquire Shares. 
 (b)    Other Terms.    The Administrator, subject to the provisions of the Plan, shall have complete discretion to determine the terms and conditions of
Performance Shares granted under the Plan. Performance Share grants shall be subject to the terms, conditions, and restrictions determined by the Administrator at the time the stock is awarded, which may include such performance-based milestones as
are determined appropriate by the Administrator. The Administrator may require the recipient to sign a Performance Shares Award Agreement as a condition of the award. Any certificates representing the Shares of stock awarded shall bear such legends
as shall be determined by the Administrator. 
 (c)        Performance Share Award
Agreement.    Each Performance Share grant shall be evidenced by an Award Agreement that shall specify such other terms and conditions as the Administrator, in its sole discretion, shall determine. 

14.        Performance Units. 
 (a)        Grant of Performance Units.    Performance Units are similar to Performance Shares, except that they shall be settled in a
cash equivalent to the Fair Market Value of the underlying Shares, determined as of the vesting date. Subject to the terms and conditions of the Plan, Performance Units may be granted to Participants at any time and from time to time as shall be
determined by the Administrator, in its sole discretion. The Administrator shall have complete discretion to determine the conditions that must be satisfied, which typically will be based principally or solely on achievement of performance
milestones but may include a service- 

  
 -15-

 
based component, upon which is conditioned the grant or vesting of Performance Units. Performance Units shall be granted in the form of units to acquire Shares. Each such unit shall be the cash
equivalent of one Share. No right to vote or receive dividends or any other rights as a shareholder shall exist with respect to Performance Units or the cash payable thereunder. 

(b)        Number of Performance Units.    Subject to
Section 6(c) hereof, the Administrator will have complete discretion in determining the number of Performance Units granted to any Participant. 
 (c)        Other Terms.    The Administrator, subject to the provisions of the Plan, shall have complete discretion to determine the
terms and conditions of Performance Units granted under the Plan. Performance Unit grants shall be subject to the terms, conditions, and restrictions determined by the Administrator at the time the grant is awarded, which may include such
performance-based milestones as are determined appropriate by the Administrator. The Administrator may require the recipient to sign a Performance Unit agreement as a condition of the award. Any certificates representing the units awarded shall bear
such legends as shall be determined by the Administrator. 
 (d)        Performance
Unit Award Agreement.    Each Performance Unit grant shall be evidenced by an agreement that shall specify such terms and conditions as the Administrator, in its sole discretion, shall determine. 

15.        Deferred Stock Units. 
 (a)        Description.    Deferred Stock Units shall consist of a Restricted Stock, Restricted Stock Unit, Performance Share or
Performance Unit Award that the Administrator, in its sole discretion permits to be paid out in installments or on a deferred basis, in accordance with rules and procedures established by the Administrator. Deferred Stock Units shall remain subject
to the claims of the Company’s general creditors until distributed to the Participant. 

(b)        162(m) Limits.    Deferred Stock Units shall be subject to
the annual 162(m) limits applicable to the underlying Restricted Stock, Restricted Stock Unit, Performance Share or Performance Unit Award as set forth in Section 6 hereof. 
 16.        Leaves of Absence.    Unless the Administrator provides otherwise or as otherwise required by Applicable Laws, vesting of
Awards granted hereunder shall cease commencing on the first day of any unpaid leave of absence and shall only recommence upon return to active service. 
 17.        Part-Time Service.    Unless otherwise required by Applicable Laws, if as a condition to being permitted to work on a less
than full-time basis, the Participant agrees that any service-based vesting of Awards granted hereunder shall be extended on a proportionate basis in connection with such transition to a less than a full-time basis, vesting shall be adjusted in
accordance with such agreement. Such vesting shall be proportionately re-adjusted prospectively in the event that the Employee subsequently becomes regularly scheduled to work additional hours of service. 

  
 -16-

18.        Non-Transferability of Awards.    Except as determined otherwise
by the Administrator in its sole discretion (but never a transfer in exchange for value), Awards may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution
and may be exercised, during the lifetime of the Participant, only by the Participant, without the prior written consent of the Administrator. If the Administrator makes an Award transferable, such Award shall contain such additional terms and
conditions as the Administrator deems appropriate. 

19.        Adjustments Upon Changes in Capitalization, Dissolution, Merger or Change in
Control. 
 (a)        Changes in
Capitalization.    Subject to any required action by the shareholders of the Company, the number of Ordinary Shares covered by each outstanding Award, and the number of Ordinary Shares which have been authorized for issuance
under the Plan but as to which no Awards have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Award, as well as the price per share of Ordinary Shares covered by each such outstanding Award and the
annual share limitations under Sections 6(a) and (b) hereof, shall be proportionately adjusted for any increase or decrease in the number of issued Ordinary Shares resulting from a stock split, reverse stock split, stock dividend, combination
or reclassification of the Ordinary Shares, or any other increase or decrease in the number of issued Ordinary Shares effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the
Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided
herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Ordinary Shares
subject to an Award. 
 (b)        Dissolution or
Liquidation.    In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The
Administrator in its discretion may provide for a Participant to have the right to exercise his or her Option or SAR until ten (10) days prior to such transaction as to all of the Awarded Stock covered thereby, including Shares as to which the
Award would not otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option or forfeiture rights applicable to any Award shall lapse 100%, and that any Award vesting shall accelerate 100%, provided the
proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised (with respect to Options and SARs) or vested (with respect to other Awards), an Award will terminate
immediately prior to the consummation of such proposed action. 
 (c)        Merger or
Change in Control.    In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator determines, including, without limitation, that each Award be assumed or an equivalent option or
right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator will not be required to treat all Awards similarly in the transaction. 

  
 -17-

 In the event that the successor corporation does not assume or substitute for the Award, the
Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted
Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms
and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock
Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the
right to purchase or receive, for each Share 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 Ordinary Shares
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 is not solely ordinary shares 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 an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely ordinary shares of the successor corporation or its Parent
equal in fair market value to the per share consideration received by holders of Ordinary Shares in the Change in Control. 

Notwithstanding anything in this Section 19(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of
one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a modification to such performance goals only to reflect
the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 
 (d)        Outside Director Awards.    With respect to Awards granted to an Outside Director that are assumed or substituted for in a
Change in Control or merger, if on the date of or following such assumption or substitution the Participant’s status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation
by the Participant (unless such voluntary resignation is at the request of the acquirer), then the Outside Director will immediately vest 100% in all such Awards. 
 20.        Time of Granting Awards.    The date of grant of an Award shall, for all purposes, be the date on which the
Administrator makes the determination granting such Award or such later date as is specified by the Administrator. Notice of the determination shall be given to each Employee or Consultant to whom an Award is so granted within a reasonable time
after the date of such grant. 

  
 -18-

 21.        Term of Plan.    Subject to
Section 22, the Plan will become effective upon the later to occur of (i) its adoption by the Board or (ii) one business day immediately prior to the Registration Date. The Plan shall continue in effect until ten years from the date
of its initial adoption by the Board. 
 22.        Shareholder
Approval.    The Plan will be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such shareholder approval will be obtained in the manner and
to the degree required under Applicable Laws. 

23.        Amendment and Termination of the Plan. 

(a)        Amendment and Termination.    The Board may at any time
amend, alter, suspend or terminate the Plan. 
 (b)        Shareholder
Approval.    The Company shall obtain shareholder approval of any Plan amendment to the extent necessary and desirable to comply with Rule 16b-3 or with Section 422 of the Code (or any successor rule or statute or other
applicable law, rule or regulation, including the requirements of any exchange or quotation system on which the Ordinary Shares are listed or quoted). Such shareholder approval, if required, shall be obtained in such a manner and to such a degree as
is required by the applicable law, rule or regulation. 

(c)        Effect of Amendment or Termination.    
No amendment, alteration, suspension or termination of the Plan shall impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the
Participant and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

24.        Conditions Upon Issuance of Shares.    Shares shall not
be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance and delivery of such Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the Securities Act, the
Exchange Act, the rules and regulations promulgated thereunder, state securities laws, and the requirements of any stock exchange upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with
respect to such compliance. 
 As a condition to the exercise or payout, as applicable, of an Award, the Company may require the
person exercising such Option or SAR, or in the case of another Award (other than a Dividend Equivalent or Performance Unit), the person receiving the Shares upon vesting, to render to the Company a written statement containing such representations
and warranties as, in the opinion of counsel for the Company, may be required to ensure compliance with any of the aforementioned relevant provisions of law, including a representation that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares, if, in the opinion of counsel for the Company, such a representation is required. 

  
 -19-

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

(a)        Withholding Requirements.    Prior to the delivery of any
Shares or cash pursuant to an Award (or exercise thereof) or such earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an
amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof). 

(b)        Withholding Arrangements.    The Administrator, in its sole
discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (a) paying cash, (b) electing to have the
Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (c) delivering to the Company already-owned Shares having a Fair Market Value equal to the
minimum statutory amount required to be withheld. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

(c)        Section 409A Compliance.    Awards granted hereunder
are intended to comply with the requirements of Section 409A of the Code to the extent Section 409A of the Code applies to such Awards, and any ambiguities in this Plan or Awards granted hereunder will be interpreted to so comply. The
terms of the Plan and any Award granted under the Plan shall be interpreted, operated and administered in a manner consistent with the foregoing intention to the extent the Administrator deems necessary or advisable in its sole discretion.
Notwithstanding any other provision in the Plan, the Administrator, to the extent it unilaterally deems necessary or advisable in its sole discretion, reserves the right, but shall not be required, to amend or modify the Plan and any Award granted
under the Plan so that the Award qualifies for exemption from or complies with Section 409A of the Code; provided, however, that the Company makes no representation that the Awards granted under the Plan shall be exempt from or comply with
Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to Awards granted under the Plan. 
 27.        No Effect on Employment or Service.    Neither the Plan nor any Award will confer upon a Participant any right with respect to
continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without
cause, to the extent permitted by Applicable Laws. 

  
 -20-

 28.        Dodd-Frank Clawback.    In the
event that the Company is required to restate its audited financial statements due to material noncompliance with any financial reporting requirement under the securities laws, each current or former executive officer Participant shall be required
to immediately repay the Company any compensation they received pursuant to Awards hereunder during the three-year period preceding the date upon which the Company is required to prepare the restatement that is in excess of what would have been paid
to the executive officer Participant under the restated financial statement, in accordance with Section 10D of the Exchange Act and any rules promulgated thereunder. Any amount required to be repaid hereunder shall be determined by the Board or
its Committee in its sole discretion, unless otherwise required by Applicable Laws, and shall be binding on all current and former executive officer Participants. 

  
 -21-Form of Stock Option Agreement

 Exhibit 10.2.2 
 AMBARELLA, INC. 
 2012 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 
 Unless otherwise defined herein, the terms defined in the Ambarella, Inc. 2012 Equity Incentive Plan (the “Plan”) will have the same defined meanings in this Stock Option Agreement (the
“Agreement”), including the Notice of Stock Option Grant (the “Notice of Grant”) and Terms and Conditions of Stock Option Grant, attached hereto as Exhibit A. 
 NOTICE OF STOCK OPTION GRANT 
  

									
	 Participant:
	  	 	  		  		  	
					
	 Address:
	  	 	  		  		  	
					
		  	 	  		  		  	
		
	 Participant has been granted an Option to purchase Ordinary Shares of Ambarella, Inc. (the “Company”),
subject to the terms and conditions of the Plan and this Agreement, as follows:
	  	
					
	 Grant Number
	  	 	  		  		  	
					
	 Date of Grant
	  	 	  		  		  	
					
	 Vesting Commencement Date
	  	 	  		  		  	
					
	 Number of Shares Granted
	  	 	  		  		  	
					
	 Exercise Price per Share             $
	  	 	  		  		  	
					
	
Total Exercise Price                    $
	  	 	  		  		  	
					
	 Type of Option
	  	___ Incentive Stock Option	  		  		  	
					
		  	___ Nonstatutory Stock Option	  		  		  	
					
	 Term/Expiration Date
	  	 	  		  		  	

 Vesting Schedule: 
 Subject to accelerated vesting as set forth below or in the Plan, this Option will be exercisable, in whole or in part, in accordance with the following schedule: 

[Twenty-five percent (25%) of the Shares subject to the Option shall vest on the one (1) year anniversary
of the Vesting Commencement Date, and one forty-eighth (1/48th) of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting 

  
 -1-

 
Commencement Date (and if there is no corresponding day, on the last day of the month), subject to Participant continuing to be a Service Provider through each such date.] 

Termination Period: 
 This Option will be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this
Option will be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and may be
subject to earlier termination as provided in Section 19(c) of the Plan. 
 By Participant’s signature and the
signature of the Company’s representative below, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Agreement, including exhibits hereto, all of which are made a
part of this document. Participant has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of the Plan and Agreement.
Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Agreement. Participant further agrees to notify the Company upon any change in the
residence address indicated below. 
  

							
	PARTICIPANT	  		 	AMBARELLA, INC.	  	
				
	 	  		 	 	  	
	Signature	  		 	By	  	
		  		 		  	
		  		 		  	
	 	  		 	 	  	
	Print Name	  		 	Title	  	
		  		 		  	
		  		 		  	
	Address:	  		 		  	
		  		 		  	
	 	  		 		  	
				
	 	  		 		  	

  
 -2-

 EXHIBIT A 

TERMS AND CONDITIONS OF STOCK OPTION GRANT 
 1.    Grant of Option.    The Company hereby grants to the Participant named in the Notice of Grant (the “Participant”) an option (the
“Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”), subject to all of the terms and conditions in this
Agreement and the Plan, which is incorporated herein by reference. Subject to Section 23(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and
conditions of the Plan will prevail. 
 If designated in the Notice of Grant as an Incentive Stock Option (“ISO”),
this Option is intended to qualify as an ISO under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the
$100,000 rule of Code Section 422(d) it will be treated as a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof) will not qualify as an ISO, then, to the extent of such nonqualification, such
Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event will the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any
other person) due to the failure of the Option to qualify for any reason as an ISO. 
 2.    Vesting
Schedule.    Except as provided in Section 3, the Option awarded by this Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Shares scheduled to vest on a certain date or upon
the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting
occurs. 
 3.    Administrator Discretion.    The Administrator, in its
discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date
specified by the Administrator. 
 4.    Exercise of Option. 

(a)        Right to Exercise.    This Option may be exercised only
within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Agreement. 
 (b)        Method of Exercise.    This Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit B
(the “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which will state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the
“Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice will be completed by Participant and delivered to the Company. The Exercise
Notice will be accompanied by payment of the aggregate Exercise Price as 

  
 -3-

 
to all Exercised Shares together with any applicable tax withholding. This Option will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by
the aggregate Exercise Price. 
 5.    Method of Payment.    Payment of the
aggregate Exercise Price will be by any of the following, or a combination thereof, at the election of Participant: 

(a)    cash; 
 (b)    check; 
 (c)    consideration
received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or 

(d)    surrender of other Shares which have a Fair Market Value on the date of surrender equal to the aggregate
Exercise Price of the Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse accounting consequences to the Company. 

6.    Tax Obligations. 
 (a)    Withholding of Taxes.    Notwithstanding any contrary provision of this Agreement, no certificate representing the Shares will be issued to
Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of income, employment, social insurance, payroll and other taxes which the Company determines
must be withheld with respect to such Shares. To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any tax withholding obligations by reducing the number of Shares
otherwise deliverable to Participant. If Participant fails to make satisfactory arrangements for the payment of any required tax withholding obligations hereunder at the time of the Option exercise, Participant acknowledges and agrees that the
Company may refuse to honor the exercise and refuse to deliver the Shares if such withholding amounts are not delivered at the time of exercise. 
 (b)    Notice of Disqualifying Disposition of ISO Shares.    If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise
disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Grant Date, or (ii) the date one (1) year after the date of exercise, Participant will immediately notify
the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant. 

(c)    Code Section 409A.    Under Code Section 409A, an option that vests after
December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined by the Internal Revenue Service (the “IRS”)
to be less than the Fair Market Value of a Share on the date of grant (a “Discount Option”) may be considered “deferred compensation.” A Discount Option may result in (i) income recognition by Participant prior to the
exercise of the option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The Discount 

  
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 Option may also result in additional state income, penalty and interest charges to the Participant.
Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the Date of Grant in a later examination.
Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date of grant, Participant will be solely responsible for Participant’s costs
related to such a determination. 
 7.    Rights as Shareholder.    Neither
Participant nor any person claiming under or through Participant will have any of the rights or privileges of a shareholder of the Company in respect of any Shares deliverable hereunder unless and until entered into the Company’s Register of
Members as the holder of such Shares. After such issuance, recordation and delivery, Participant will have all the rights of a shareholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares.

 8.    No Guarantee of Continued Service.    PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING
HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR
IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR
RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 

9.    Address for Notices.    Any notice to be given to the Company under the terms of
this Agreement will be addressed to the Company at Ambarella, Inc., 2975 San Ysidro Way, Santa Clara, CA 95051, or at such other address as the Company may hereafter designate in writing. 

10.    Non-Transferability of Option.    This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. 
 11.    Binding Agreement.    Subject to the limitation on the transferability of this grant contained herein, this Agreement will be binding upon and inure
to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

12.    Additional Conditions to Issuance of Stock.    If at any time the Company will
determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of
any governmental regulatory authority is necessary or desirable as a 

  
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condition to the purchase by, or issuance of Shares to, Participant (or his or her estate) hereunder, such purchase or issuance will not occur unless and until such listing, registration,
qualification, rule compliance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. The Company will make all reasonable efforts to meet the requirements of any such state, federal
or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange. Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to
Participant on the date the Option is exercised with respect to such Exercised Shares. 
 13.    Plan
Governs.    This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan
will govern. Capitalized terms used and not defined in this Agreement will have the meaning set forth in the Plan. 

14.    Administrator Authority.     The Administrator will have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or
not any Shares subject to the Option have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. No
member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 
 15.    Electronic Delivery.    The Company may, in its sole discretion, decide to deliver any documents related to Options awarded under the Plan or future
options that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to
participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by the Company. 
 16.    Captions.    Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 17.    Agreement Severable.    In the event that any provision in this
Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement. 

18.    Modifications to the Agreement.    This Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this
Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise this
Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with 

  
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 Code Section 409A or to otherwise avoid imposition of any additional tax or income recognition under
Section 409A of the Code in connection to this Option. 
 19.    Amendment, Suspension or
Termination of the Plan.    By accepting this Award, Participant expressly warrants that he or she has received an Option under the Plan, and has received, read and understood a description of the Plan. Participant
understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time. 

20.    Governing Law.    This Agreement will be governed by the laws of California,
without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California,
and agree that such litigation will be conducted in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this Option is made and/or to be
performed. 

  
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 EXHIBIT B 

AMBARELLA, INC. 
 2012 EQUITY INCENTIVE PLAN 
 EXERCISE NOTICE 

Ambarella, Inc. 
 2975 San Ysidro Way 

Santa Clara, CA 95051 
 Attention: Stock
Administration 
 1.        Exercise of Option.    Effective
as of today, ________________, _____, the undersigned (“Purchaser”) hereby elects to purchase ______________ shares (the “Shares”) of the Ordinary Shares of Ambarella, Inc. (the “Company”) under and pursuant to the 2012
Equity Incentive Plan (the “Plan”) and the Stock Option Agreement dated ________ (the “Agreement”). The purchase price for the Shares will be $_______, as required by the Agreement. 

2.        Delivery of Payment.    Purchaser herewith delivers to the
Company the full purchase price of the Shares and any required tax withholding to be paid in connection with the exercise of the Option. 
 3.        Representations of Purchaser.    Purchaser acknowledges that Purchaser has received, read and understood the Plan and the
Agreement and agrees to abide by and be bound by their terms and conditions. 

4.        Rights as Shareholder.    Until the issuance (as evidenced
by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a shareholder will exist with respect to the Shares subject to
the Option, notwithstanding the exercise of the Option. The Shares so acquired will be issued to Purchaser as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is
prior to the date of issuance, except as provided in Section 19 of the Plan. 

5.        Tax Consultation.    Purchaser understands that Purchaser
may suffer adverse tax consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or
disposition of the Shares and that Purchaser is not relying on the Company for any tax advice. 

  
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 6.        Entire Agreement; Governing
Law.    The Plan and Agreement are incorporated herein by reference. This Exercise Notice, the Plan and the Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in
their entirety all prior undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and
Purchaser. This agreement is governed by the internal substantive laws, but not the choice of law rules, of California. 
  

							
	Submitted by	  		 	Accepted by:	  	
	PURCHASER	  		 	AMBARELLA, INC.	  	
				
	 	  		 	 	  	
	Signature	  		 	By	  	
		  		 		  	
		  		 		  	
	 	  		 	 	  	
	Print Name	  		 	Its	  	
		  		 		  	
		  		 		  	
	Address:	  		 		  	
		  		 		  	
	 	  		 		  	
				
	 	  		 		  	
		  		 		  	
		  		 		  	
		  		 	 	  	
		  		 	Date Received	  	

  
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