Document:

Citigroup 2009 Stock Incentive Plan

 Exhibit 4.1 
 CITIGROUP 
 2009 STOCK INCENTIVE PLAN 

(restated as of September 10, 2009, to reflect adjustments pursuant to Section 6(e), as of July 29, 2009, and
September 10, 2009, to numerical limits in Section 6(a) and Section 6(d)) 
  

	1.	Purpose 

 The purposes of
the Citigroup 2009 Stock Incentive Plan (the “Plan”) are to (i) align Employees’ long-term financial interests with those of the Company’s stockholders; (ii) attract and retain Employees by providing compensation
opportunities that are competitive with other companies; and (iii) provide incentives to those Employees who contribute significantly to the long-term performance and growth of the Company and its Subsidiaries. 
  

	2.	Effective Date 

 The Plan
will become effective as of April 21, 2009, subject to approval by the stockholders of the Company. 
  

	3.	Definitions 

 “Award” shall mean an Option, SAR or other form of Stock Award granted under the Plan. 
 “Award Agreement” shall mean the paper or electronic document evidencing an Award granted under the Plan. 
 “Board” shall mean the Board of Directors of the Company. 
 “Change of Control” shall
have the meaning set forth in Section 13. 
 “Code” shall mean the Internal Revenue Code of 1986, as
amended, including any rules and regulations promulgated thereunder. 
 “Committee” shall mean the Personnel and
Compensation Committee of the Board, the members of which shall satisfy the requirements of Rule 16b-3 of the 1934 Act and who shall also qualify, and remain qualified, as “outside directors,” as defined in Section 162(m) of the Code.

 “Common Stock” shall mean the common stock of the Company, par value $.01 per share. 
 “Company” shall mean Citigroup Inc., a Delaware corporation. 
 “Covered Employee” shall mean “covered employee” as such term is defined in Section 162(m) of the Code.

 “Deferred Stock” shall mean an Award payable in shares of Common Stock at the end of a specified deferral
period that is subject to the terms, conditions and limitations described or referred to in Section 7(c)(iv) and Section 7(d). 
 “Employee” shall have the meaning set forth in General Instruction A to the Registration Statement on Form S-8 promulgated under the Securities Act of 1933, as amended, or any successor
form or statute, as determined by the Committee. 
 “Fair Market Value” shall mean, in the case of a grant of an
Option or a SAR, the closing price of a share of Common Stock on the New York Stock Exchange, or on any national securities exchange on which the shares of Common Stock are then listed, on the trading date immediately preceding the date on which the
Option or the SAR was granted, or on the date on which the Option or a SAR was granted, in the case of a grant to a Section 16(a) Officer (as defined). 
 “ISO” shall mean an incentive stock option as defined in Section 422 of the Code. 
  

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 “Nonqualified Stock Option” shall mean an Option that is granted to a
Participant that is not designated as an ISO. 
 “Option” shall mean the right to purchase a specified number of
shares of Common Stock at a stated exercise price for a specified period of time subject to the terms, conditions and limitations described or referred to in Section 7(a) and Section 7(d). The term “Option” as used in this Plan
includes the terms “Nonqualified Stock Option” and “ISO.” 
 “Participant” shall mean an
Employee who has been granted an Award under the Plan. 
 “Plan Administrator” shall have the meaning set forth
in Section 10. 
 “Prior Plans” shall mean the Citigroup 1999 Stock Incentive Plan, the Citicorp 1997 Stock
Incentive Plan, the Travelers Group Capital Accumulation Plan, and the Citigroup Employee Incentive Plan (formerly the Travelers Group Employee Incentive Plan). 
 “Restricted Stock” shall mean an Award of Common Stock that is subject to the terms, conditions, restrictions and limitations described or referred to in Section 7(c)(iii) and
Section 7(d). 
 “SAR” shall mean a stock appreciation right that is subject to the terms, conditions,
restrictions and limitations described or referred to in Section 7(b) and Section 7(d). 
 “Section 16(a)
Officer” shall mean an Employee who is subject to the reporting requirements of Section 16(a) of the 1934 Act. 
 “Separation from Service” shall have the meaning set forth in Section 1.409A-1(h) of the Treasury Regulations. 
 “Specified Employee” shall have the meaning set forth in Section 409A of the Code. 
 “Stock Award” shall have the meaning set forth in Section 7(c)(i). 
 “Stock Payment” shall mean a stock payment that is subject to the terms, conditions, and limitations described or referred to in Section 7(c)(ii) and Section 7(d). 
 “Stock Unit” shall mean a stock unit that is subject to the terms, conditions and limitations described or referred to in
Section 7(c)(v) and Section 7(d). 
 “Subsidiary” shall mean any entity that is directly or indirectly
controlled by the Company or any entity, including an acquired entity, in which the Company has a significant equity interest, as determined by the Committee in its sole discretion, provided that with respect to any Award that is subject to
Section 409A of the Code, “Subsidiary” shall mean a corporation or other entity in a chain of corporations or other entities in which each corporation or other entity, starting with the Company, has a controlling interest in
another corporation or other entity in the chain, ending with such corporation or other entity. For purposes of the preceding sentence, the term “controlling interest” has the same meaning as provided in Section 1.414(c)-2(b)(2)(i) of
the Treasury Regulations, provided that the language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Section 1.414(c)-2(b)(2)(i) of the Treasury Regulations. Notwithstanding the
foregoing, for the purpose of determining whether a corporation or other entity is a Subsidiary for purposes of Section 5(a) hereof, if the Awards proposed to be granted to Employees of such corporation or other entity would be granted based
upon legitimate business criteria, the term “controlling interest” has the same meaning as provided in Section 1.414(c)-2(b)(2)(i) of the Treasury Regulations, provided that the language “at least 20 percent” is used instead
of “at least 80 percent” each place it appears in Code Section 1.414(c)-2(b)(2)(i). For purposes of determining ownership of an interest in an organization, the rules of Sections 1.414(c)-3 and 1.414(c)-4 of the Treasury Regulations
apply. 
 “Treasury Regulations” shall mean the regulations promulgated under the Code by the United States
Internal Revenue Service, as amended. 
 “1934 Act” shall mean the Securities Exchange Act of 1934, as amended,
including the rules and regulations promulgated thereunder and any successor thereto. 
  

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	4.	The Committee 

  

	 	(a)	Committee Authority. The Committee shall have full and exclusive power to administer and interpret the Plan, to grant Awards and to adopt such
administrative rules, regulations, procedures and guidelines governing the Plan and the Awards as it deems appropriate, in its sole discretion, from time to time. The Committee’s authority shall include, but not be limited to, the authority to
(i) determine the type of Awards to be granted under the Plan; (ii) select Award recipients and determine the extent of their participation; and (iii) establish all other terms, conditions, and limitations applicable to Awards, Award
programs and the shares of Common Stock issued pursuant thereto. The Committee may accelerate or defer the vesting or payment of Awards, cancel or modify outstanding Awards, waive any conditions or restrictions imposed with respect to Awards or the
Common Stock issued pursuant to Awards and make any and all other determinations that it deems appropriate with respect to the administration of the Plan, subject to the limitations contained in Sections 4(d) and 7(d) and Section 409A of the
Code with respect to all Participants, and subject to the provisions of Section 162(m) of the Code with respect to Covered Employees. 

  

	 	(b)	Administration of the Plan. The administration of the Plan shall be managed by the Committee. The Committee shall have the power to prescribe and modify,
as necessary, the form of Award Agreement, to correct any defect, supply any omission or clarify any inconsistency in the Plan and/or in any Award Agreement and to take such actions and make such administrative determinations that the Committee
deems appropriate in its sole discretion. Any decision of the Committee in the administration of the Plan, as described herein, shall be final, binding and conclusive on all parties concerned, including the Company, its stockholders and Subsidiaries
and all Participants. 

  

	 	(c)	Delegation of Authority. To the extent permitted by applicable law, the Committee may at any time delegate to one or more officers or directors of the
Company some or all of its authority over the administration of the Plan, with respect to persons who are not Section 16(a) Officers or Covered Employees. 

  

	 	(d)	Prohibition Against Repricing. Notwithstanding any provision of this Plan to the contrary, in no event shall (i) any repricing (within the
meaning of U.S. generally accepted accounting principles or any applicable stock exchange rule) of Awards issued under the Plan be permitted at any time under any circumstances, or (ii) any new Awards be issued in substitution for outstanding
Awards previously granted to Participants if such action would be considered a repricing (within the meaning of U.S. generally accepted accounting principles or any applicable stock exchange rule). 

  

	 	(e)	Indemnification. No member of the Committee nor any other person to whom any duty or power relating to the administration or interpretation of the
Plan has been delegated shall be personally liable for any action or determination made with respect to the Plan, except for his or her own willful misconduct or as expressly provided by statute. The members of the Committee and its delegates,
including any employee with responsibilities relating to the administration of the Plan, shall be entitled to indemnification and reimbursement from the Company, to the extent permitted by applicable law and the By-laws and policies of the Company.
In the performance of its functions under the Plan, the Committee (and each member of the Committee and its delegates) shall be entitled to rely upon information and advice furnished by the Company’s officers, accountants, counsel and any other
party they deem appropriate, and neither the Committee nor any such person shall be liable for any action taken or not taken in reliance upon any such advice. 

  

	5.	Participation 

  

	 	(a)	Eligible Employees. Subject to Section 7(a)(i), the Committee shall determine which Employees shall be eligible to receive Awards under the
Plan. With respect to Employees subject to U.S. income tax, Options and SARs shall only be granted to such Employees who provide direct services to the Company or a Subsidiary of the Company as of the date of grant of the Option or SAR.

  

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	 	(b)	Participation by Subsidiaries. Employees of Subsidiaries may participate in the Plan upon approval of Awards to such Employees by the Committee. A
Subsidiary’s participation in the Plan may be conditioned upon the Subsidiary’s agreement to reimburse the Company for costs and expenses of such participation, as determined by the Company. The Committee may terminate the
Subsidiary’s participation in the Plan at any time and for any reason. If a Subsidiary’s participation in the Plan shall terminate, such termination shall not relieve it of any obligations theretofore incurred by it under the Plan, except
with the approval of the Committee, and the Committee shall determine, in its sole discretion, the extent to which Employees of the Subsidiary may continue to participate in the Plan with respect to previously granted Awards. Unless the Committee
determines otherwise, a Subsidiary’s participation in the plan shall terminate upon the occurrence of any event that results in such entity no longer constituting a Subsidiary as defined herein; provided, however, that such termination shall
not relieve such Subsidiary of any of its obligations to the Company theretofore incurred by it under the Plan, except with the approval of the Committee. Notwithstanding the foregoing, unless otherwise specified by the Committee, upon any such
Subsidiary ceasing to be a Subsidiary as defined herein, the Employees and Participants employed by such Subsidiary shall be deemed to have terminated employment for purposes of the Plan. With respect to Awards subject to Section 409A of the
Code, for purposes of determining whether a distribution is due to a Participant, such Participant’s employment shall be deemed terminated as described in the preceding sentence only if the Committee determines that a Separation from Service
has occurred. 

  

	 	(c)	Participation outside of the United States. In order to facilitate the granting of Awards to Employees who are foreign nationals or who are
employed outside of the U.S., the Committee may provide for such special terms and conditions, including, without limitation, substitutes for Awards, as the Committee may consider necessary or appropriate to accommodate differences in local law, tax
policy or custom. The Committee may approve any supplements to, or amendments, restatements or alternative versions of, this Plan as it may consider necessary or appropriate for the purposes of this Section 5(c) without thereby affecting the
terms of this Plan as in effect for any other purpose, and the Secretary, or any Assistant Secretary or other appropriate officer of the Company, may certify any such documents as having been approved and adopted pursuant to properly delegated
authority; provided, that no such supplements, amendments, restatements or alternative versions shall include any provisions that are inconsistent with the intent and purpose of this Plan, as then in effect; and further provided that any such action
taken with respect to a Covered Employee shall be taken in compliance with Section 162(m) of the Code and that any such action taken with respect to an Employee who is subject to Section 409A of the Code shall be taken in compliance with
Section 409A of the Code. 

  

	6.	Available Shares of Common Stock 

  

	 	(a)	Shares Subject to the Plan. Common Stock issued pursuant to Awards granted under the Plan may be shares that have been authorized but unissued, or
have been previously issued and reacquired by the Company, or both. Reacquired shares may consist of shares purchased in open market transactions or otherwise. Subject to the following provisions of this Section 6, the aggregate number of
shares of Common Stock that may be issued to Participants pursuant to Awards granted under the Plan shall not exceed one billion, thirty-two million, eight-hundred-and-twelve thousand, and one-hundred-and-eighty-six (1,032,812,186) shares of
Common Stock; provided that, for these purposes only, each share subject to an Award granted pursuant to Section 7(a) or (b) shall be counted as one share, and each share subject to an Award granted pursuant to Section 7(c) shall be
counted as 2.3 shares. 

  

	 	(b)	 Forfeited and Expired Awards. Awards made under the Plan which, at any time, are forfeited, expire or are canceled or settled
without issuance of shares shall not count towards the maximum number of shares that may be issued under the Plan as set forth in Section 6(a) and shall be available for future Awards under the Plan. Notwithstanding the foregoing, any and all
shares of Common Stock that are (i) tendered in payment of an Option exercise price (whether by attestation or by other means);

  

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(ii) withheld by the Company to satisfy any tax withholding obligation; (iii) repurchased by the Company with Option exercise proceeds; or (iv) covered by an SAR (to the extent
that it is exercised and settled in shares of Common Stock, without regard to the number of shares of Stock that are actually issued to the Participant upon exercise) shall be considered issued pursuant to the Plan and shall not be added to the
maximum number of shares that may be issued under the Plan as set forth in Section 6(a). 

  

	 	(c)	Other Items Not Included in Allocation. The maximum number of shares that may be issued under the Plan as set forth in Section 6(a) shall not
be affected by (i) the payment in cash of dividends or dividend equivalents in connection with outstanding Awards; (ii) the granting or payment of stock-denominated Awards that by their terms may be settled only in cash; or
(iii) Awards that are granted in connection with a transaction between the Company or a Subsidiary and another entity or business in substitution or exchange for, or conversion adjustment, assumption or replacement of, awards previously granted
by such other entity to any individuals who have become Employees as a result of such transaction. 

  

	 	(d)	Other Limitations on Shares that May be Granted under the Plan. Subject to Section 6(e), the aggregate number of shares of Common Stock that
may be granted to any single individual during a calendar year in the form of Options, SARs, and/or Stock Awards shall not exceed twenty million, six-hundred-and-fifty-six thousand and two-hundred-and-forty-three (20,656,243).

  

	 	(e)	Adjustments. In the event of any change in the Company’s capital structure, including but not limited to a change in the number of shares of
Common Stock outstanding, on account of (i) any stock dividend, stock split, reverse stock split or any similar equity restructuring, or (ii) any combination or exchange of equity securities (including, without limitation, the exchange of
preferred securities owned by the United States government for Common Stock, as announced by the Company in a press release dated February 27, 2009), merger, consolidation, recapitalization, reorganization, or divesture or any other similar
event affecting the Company’s capital structure, to reflect such change in the Company’s capital structure, the Committee shall make appropriate equitable adjustments to the maximum number of shares of Common Stock that may be issued under
the Plan as set forth in Section 6(a) and (but only to the extent permitted under Section 162(m) of the Code) to the maximum number of shares that may be granted to any single individual pursuant to Section 6(d). In the event of any
extraordinary dividend, divestiture or other distribution (other than ordinary cash dividends) of assets to stockholders, or any transaction or event described above, to the extent necessary to prevent the enlargement or diminution of the rights of
Participants, the Committee shall make appropriate equitable adjustments to the number or kind of shares subject to an outstanding Award, the exercise price applicable to an outstanding Award (subject to the limitation contained in
Section 4(d)), and/or any measure of performance that relates to an outstanding Award. Any adjustment to ISOs under this Section 6(e) shall be made only to the extent not constituting a “modification” within the meaning of
Section 424(h)(3) of the Code, and any adjustments under this Section 6(e) shall be made in a manner that does not adversely affect the exemption provided pursuant to Rule 16b-3 under the 1934 Act. With respect to Awards subject to
Section 409A of the Code, any adjustments under this Section 6(e) shall conform to the requirements of Section 409A of the Code. Furthermore, with respect to Awards intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, such adjustments shall be made only to the extent that the Committee determines that such adjustments may be made without causing the Company to be denied a tax deduction on account of Section 162(m) of
the Code. The Company shall give each Participant notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes. Notwithstanding the foregoing, the Committee may, in its discretion, decline to
adjust any Award made to a Participant, if it determines that such adjustment would violate applicable law or result in adverse tax consequences to the Participant or to the Company. 

  

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	7.	Awards Under The Plan 

 Awards under the Plan may be granted as Options, SARs or Stock Awards, as described below. Awards may be granted singly, in combination or in tandem as determined by the Committee, in its sole discretion. 
  

	 	(a)	Options. Options granted under the Plan may be Nonqualified Stock Options or ISOs or any other type of stock option permitted under the Code. Options
shall expire after such period, not to exceed ten years, as may be determined by the Committee. If an Option is exercisable in installments, such installments or portions thereof that become exercisable shall remain exercisable until the Option
expires or is otherwise canceled pursuant to its terms. Except as otherwise provided in Sections 7(a) and (d), Awards of Nonqualified Stock Options shall be subject to the terms, conditions, restrictions, and limitations determined by the Committee,
in its sole discretion, from time to time. 

  

	 	(i)	ISOs. The terms and conditions of any ISOs granted hereunder shall be subject to the provisions of Section 422 of the Code, and except as
provided in Section 7(d), the terms, conditions, limitations and administrative procedures established by the Committee from time to time in accordance with the Plan. At the discretion of the Committee, ISOs may be granted to any employee of
the Company, its parent or any subsidiary of the Company, as such terms are defined in Sections 424(e) and (f) of the Code. 

  

	 	(ii)	Reload Options. Except as provided in this Section 7(a)(ii), no Reload Options (as defined below) shall be granted under the Plan. With
respect to the exercise of (A) any Option granted under a Prior Plan (an “Original Option”) pursuant to the terms of which a Participant tenders shares of Common Stock to pay the exercise price and arranges to have a portion of the
shares otherwise issuable upon exercise withheld to pay the applicable withholding taxes, and thereby becomes entitled (if all other applicable conditions have been satisfied) to receive a new Option covering a number of shares of Common Stock equal
to the sum of the number of shares tendered to pay the exercise price and the number of shares used to pay the withholding taxes of the Original Option, at an exercise price equal to the Fair Market Value of a share of Common Stock on the exercise
date of the Original Option, and which vests six months thereafter and expires no later than the expiration date of the underlying Original Option (a “Reload Option”) or (B) any Reload Option granted as described above, the
Participant may receive a new Reload Option. Reload Options will be granted only as provided above and subject to such terms, conditions, restrictions and limitations as provided by the terms of the underlying Original Option or Reload Option
(including, but not limited to, eligibility to receive subsequent grants of Reload Options upon satisfaction of the conditions specified in the terms of the underlying Original Option or Reload Option), and subject to such modifications thereto as
the Committee (if permitted), in its sole discretion, may from time to time deem appropriate; provided, however, that any such modification shall comply with Section 409A of the Code, to the extent applicable. A Reload Option may not otherwise
be granted under the terms of the Plan. To the extent a Reload Option is granted in respect of an Original Option granted under the Plan or Prior Plan, shares issued in connection with such Reload Option shall count towards the maximum number of
shares of Common Stock that may be issued to Participants pursuant to Awards granted under the Plan as set forth in Section 6(a) and any individual Participant pursuant to Section 6(d). A Reload Option granted hereunder shall not be
subject to the minimum vesting requirements of Section 7(d). 

  

	 	(iii)	Exercise Price. The Committee shall determine the exercise price per share for each Option, which shall not be less than 100% of the Fair Market
Value at the time of grant. 

  

	 	(iv)	 Exercise of Options. Upon satisfaction of the applicable conditions relating to vesting and exercisablility, as determined by the
Committee, and upon provision for the payment in full of the exercise price and applicable taxes due, the Participant shall be entitled to exercise the Option and receive the number of shares of Common Stock issuable in connection with the Option
exercise. The shares issued in connection with the Option exercise may be subject to such conditions and restrictions as the Committee may determine, from time to time. The exercise price of an Option

  

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and applicable withholding taxes relating to an Option exercise may be paid by methods permitted by the Committee from time to time including, but not limited to, (1) a cash payment in U.S.
dollars; (2) tendering (either actually or by attestation) shares of Common Stock owned by the Participant (for any minimum period of time that the Committee, in its discretion, may specify), valued at the fair market value at the time of
exercise; (3) arranging to have the appropriate number of shares of Common Stock issuable upon the exercise of an Option withheld or sold; or (4) any combination of the above. Additionally, the Committee may provide that an Option may be
“net exercised,” meaning that upon the exercise of an Option or any portion thereof, the Company shall deliver the greatest number of whole shares of Common Stock having a fair market value on the date of exercise not in excess of the
difference between (x) the aggregate fair market value of the shares of Common Stock subject to the Option (or the portion of such Option then being exercised) and (y) the aggregate exercise price for all such shares of Common Stock under
the Option (or the portion thereof then being exercised) plus (to the extent it would not give rise to adverse accounting consequences pursuant to applicable accounting principles) the amount of withholding tax due upon exercise, with any fractional
share that would result from such equation to be payable in cash, to the extent practicable, or cancelled. 

  

	 	(v)	ISO Grants to 10% Stockholders. Notwithstanding anything to the contrary in this Section 7(a), if an ISO is granted to a Participant who owns stock
representing more than ten percent of the voting power of all classes of stock of the Company or of a subsidiary or parent, as such terms are defined in Section 424(e) and (f) of the Code, the term of the Option shall not exceed five years
from the time of grant of such Option and the exercise price shall be at least 110 percent (110%) of the Fair Market Value (at the time of grant) of the Common Stock subject to the Option. 

  

	 	(vi)	$100,000 Per Year Limitation for ISOs. To the extent the aggregate Fair Market Value (determined at the time of grant)
of the Common Stock for which ISOs are exercisable for the first time by any Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess ISOs shall be treated as Nonqualified Stock Options.

  

	 	(vii)	Disqualifying Dispositions. Each Participant awarded an ISO under the Plan shall notify the Company in writing immediately after the
date he or she makes a disqualifying disposition of any shares of Common Stock acquired pursuant to the exercise of such ISO. A disqualifying disposition is any disposition (including any sale) of such Common Stock before the later of (i) two
years after the time of grant of the ISO or (ii) one year after the date the Participant acquired the shares of Common Stock by exercising the ISO. The Company may, if determined by the Committee and in accordance with procedures established by
it, retain possession of any shares of Common Stock acquired pursuant to the exercise of an ISO as agent for the applicable Participant until the end of the period described in the preceding sentence, subject to complying with any instructions from
such Participant as to the sale of such Stock. 

  

	 	(b)	Stock Appreciation Rights. A SAR represents the right to receive a payment in cash, Common Stock, or a combination thereof, in an amount equal to
the excess of the fair market value of a specified number of shares of Common Stock at the time the SAR is exercised over the exercise price of such SAR which shall be no less than 100% of the Fair Market Value of the same number of shares at the
time the SAR was granted, except that if a SAR is granted retroactively in substitution for an Option, the exercise price of such SAR shall be the Fair Market Value at the time such Option was granted. Any such substitution of a SAR for an Option
granted to a Covered Employee may only be made in compliance with the provisions of Section 162(m) of the Code. Except as otherwise provided in Section 7(d), Awards of SARs shall be subject to the terms, conditions, restrictions and
limitations determined by the Committee, in its sole discretion, from time to time. A SAR may only be granted to Employees to whom an Option could be granted under the Plan. 

  

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	 	(c)	Stock Awards. 

  

	 	(i)	Form of Awards. The Committee may grant Awards (“Stock Awards”) that are payable in shares of Common Stock or denominated in units
equivalent in value to shares of Common Stock or are otherwise based on or related to shares of Common Stock, including, but not limited to, Awards of Restricted Stock, Deferred Stock and Stock Units. Except as otherwise provided in
Section 7(d), Stock Awards shall be subject to such terms, conditions, restrictions and limitations as the Committee may determine to be applicable to such Stock Awards, in its sole discretion, from time to time. 

  

	 	(ii)	Stock Payment. If not prohibited by applicable law and to the extent allowed by Section 7(d) of the Plan, the Committee may issue unrestricted
shares of Common Stock, alone or in tandem with other Awards, in such amounts and subject to such terms and conditions as the Committee shall from time to time in its sole discretion determine; provided, however, that to the extent Section 409A
of the Code is applicable to the grant of unrestricted shares of Common Stock that are issued in tandem with another Award, then such tandem Awards shall conform to the requirements of Section 409A of the Code. A Stock Payment under the Plan
may be granted as, or in payment of, a bonus (including without limitation any compensation that is intended to qualify as performance-based compensation for purposes of Section 162(m) of the Code), or to provide incentives or recognize special
achievements or contributions. Any shares of Common Stock used for such payment may be valued at a fair market value at the time of payment as determined by the Committee in its sole discretion. 

  

	 	(iii)	Restricted Stock. Except as otherwise provided in Section 7(d), Awards of Restricted Stock shall be subject to the terms, conditions,
restrictions, and limitations determined by the Committee, in its sole discretion, from time to time. The number of shares of Restricted Stock allocable to an Award under the Plan shall be determined by the Committee in its sole discretion.

  

	 	(iv)	Deferred Stock. Except as otherwise provided in Section 7(d) and subject to Section 409A of the Code to the extent
applicable, Awards of Deferred Stock shall be subject to the terms, conditions, restrictions and limitations determined by the Committee, in its sole discretion, from time to time. A Participant who receives an Award of Deferred Stock shall be
entitled to receive the number of shares of Common Stock allocable to his or her Award, as determined by the Committee in its sole discretion, from time to time, at the end of a specified deferral period determined by the Committee. Awards of
Deferred Stock represent only an unfunded, unsecured promise to deliver shares in the future and do not give Participants any greater rights than those of an unsecured general creditor of the Company. 

  

	 	(v)	Stock Units. A Stock Unit is an Award denominated in shares of Common Stock that may be settled either in shares of Common Stock or in cash, in the
discretion of the Committee, and, except as otherwise provided in Section 7(d) and subject to Section 409A of the Code to the extent applicable, shall be subject to such other terms, conditions, restrictions and limitations determined by
the Committee from time to time in its sole discretion. 

  

	 	(d)	Minimum Vesting. Except for Awards referred to in Section 6(c)(ii) or (iii), or as provided in this Section 7(d), Section 7(a)(ii),
and Section 13, Awards shall not vest in full prior to the third anniversary of the Award date; provided, however, that the Committee may, in its sole discretion, grant Awards that provide for accelerated vesting (i) on account of a
Participant’s retirement, death, disability, leave of absence, termination of employment, the sale or other disposition of a Participant’s employer or any other similar event, and/or (ii) upon the achievement of performance criteria
specified by the Committee, as provided in Section 7(e). Notwithstanding the foregoing, up to twenty percent (20%) of the shares of Common Stock reserved for issuance under the Plan pursuant to Section 6(a) may be granted subject to
awards with such other vesting requirements, if any, as the Committee may establish in its sole discretion (which number of shares shall be subject to adjustment in accordance with Section 6(e) and which shall not include any shares subject to
Awards referred to in Section 6(c)(ii) and (iii), or granted pursuant to Section 7(a)(ii), Section 7(e) or any other provision of this Section 7(d)). 

  

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	 	(e)	Performance Criteria. At the discretion of the Committee, Awards may be made subject to, or may vest on an accelerated basis upon, the achievement
of performance criteria related to a period of performance of not less than one year, which may be established on a Company-wide basis or with respect to one or more business units or divisions or Subsidiaries and may be based upon the attainment of
criteria as may be determined by the Committee. When establishing performance criteria for any performance period, the Committee may exclude any or all “extraordinary items” as determined under U.S. generally accepted accounting principles
including, without limitation, the charges or costs associated with restructurings of the Company or any Subsidiary, discontinued operations, other unusual or non-recurring items, and the cumulative effects of accounting changes. The Committee may
also adjust the performance criteria for any performance period as it deems equitable in recognition of unusual or non-recurring events affecting the Company, changes in applicable tax laws or accounting principles, or such other factors as the
Committee may determine. The Committee, in its sole discretion, may establish or measure performance criteria based on International Financial Reporting Standards or other appropriate accounting principles then in general use and accepted for
financial reports the Company is required to file with the United States Securities and Exchange Commission. 

  

	8.	Forfeiture Provisions Following a Termination of Employment 

 Except where prohibited by applicable law, in any instance where the rights of a Participant with respect to an Award extend past the date of termination of a Participant’s employment, all of such
rights shall terminate and be forfeited, if, in the determination of the Committee, the Participant, at any time subsequent to his or her termination of employment engages, directly or indirectly, either personally or as an employee, agent, partner,
stockholder, officer or director of, or consultant to, any entity or person engaged in any business in which the Company or its affiliates is engaged, in conduct that breaches any obligation or duty of such Participant to the Company or a Subsidiary
or that is in material competition with the Company or a Subsidiary or is materially injurious to the Company or a Subsidiary, monetarily or otherwise, which conduct shall include, but not be limited to, (i) disclosing or misusing any
confidential information pertaining to the Company or a Subsidiary; (ii) any attempt, directly or indirectly, to induce any employee, agent, insurance agent, insurance broker or broker-dealer of the Company or any Subsidiary to be employed or
perform services elsewhere; (iii) any attempt by a Participant, directly or indirectly, to solicit the trade of any customer or supplier or prospective customer or supplier of the Company or any Subsidiary; or (iv) disparaging the Company,
any Subsidiary or any of their respective officers or directors. The Committee shall make the determination of whether any conduct, action or failure to act falls within the scope of activities contemplated by this Section 8, in its sole
discretion. For purposes of this Section 8, a Participant shall not be deemed to be a stockholder of a competing entity if the Participant’s record and beneficial ownership amount to not more than one percent (1%) of the outstanding
capital stock of any company subject to the periodic and other reporting requirements of the 1934 Act. 
  

	9.	Dividends and Dividend Equivalents 

 The Committee may, in its sole discretion, provide that Stock Awards shall earn dividends or dividend equivalents. Such dividends or dividend equivalents may be paid currently or may be credited to an
account maintained on the books of the Company. Any payment or crediting of dividends or dividend equivalents will be subject to such terms, conditions, restrictions and limitations as the Committee may establish, from time to time, in its sole
discretion, including, without limitation, reinvestment in additional shares of Common Stock or common share equivalents; provided, however, if the payment or crediting of dividends or dividend equivalents is in respect of a Stock Award that is
subject to Section 409A of the Code, then the payment or crediting of such dividends or dividend equivalents shall conform to the requirements of Section 409A of the Code and such requirements shall be specified in writing. Any shares
purchased by or on behalf of Participants in a dividend reinvestment program established under the Plan shall not count towards the maximum number of shares that may be issued under the Plan as set forth in Section 6(a), provided that such
shares are purchased in open-market transactions or are treasury shares purchased directly from the Company at fair market value at the time of purchase. Unless the Committee determines otherwise, Section 16(a) Officers may not participate in
dividend

  

 9 

 
reinvestment programs established under the Plan. Notwithstanding the foregoing, dividends or dividend equivalents may not be paid or accrue with respect to any shares of Common Stock subject to
an Award pursuant to Section 7(e), unless and until the relevant performance criteria have been satisfied, and then only to the extent determined by the Committee, as specified in the Award Agreement. 
  

	10.	Voting 

 The Committee
shall determine whether a Participant shall have the right to direct the vote of shares of Common Stock allocated to a Stock Award. If the Committee determines that an Award shall carry voting rights, the shares allocated to such Award shall be
voted by such person as the Committee may designate (the “Plan Administrator”) in accordance with instructions received from Participants (unless to do so would constitute a violation of fiduciary duties or any applicable exchange rules).
In such cases, shares subject to Awards as to which no instructions are received shall be voted by the Plan Administrator proportionately in accordance with instructions received with respect to all other Awards (including, for these purposes,
outstanding awards granted under the Prior Plans or any other plan of the Company) that are eligible to vote (unless to do so would constitute a violation of fiduciary duties or any applicable exchange rules). 
  

	11.	Payments and Deferrals 

  

	 	(a)	Payment of vested Awards may be in the form of cash, Common Stock or combinations thereof as the Committee shall determine, subject to such terms, conditions,
restrictions and limitations as it may impose. The Committee may (i) postpone the exercise of Options or SARs (but not beyond their expiration dates), (ii) require or permit Participants to elect to defer the receipt or issuance of shares
of Common Stock pursuant to Awards or the settlement of Awards in cash under such rules and procedures as it may establish, in its discretion, from time to time, (iii) provide for deferred settlements of Awards including the payment or
crediting of earnings on deferred amounts, or the payment or crediting of dividend equivalents where the deferred amounts are denominated in common share equivalents, (iv) stipulate in any Award Agreement, either at the time of grant or by
subsequent amendment, that a payment or portion of a payment of an Award be delayed in the event that Section 162(m) of the Code (or any successor or similar provision of the Code) would disallow a tax deduction by the Company for all or a
portion of such payment; provided, that the period of any such delay in payment shall be until the payment, or portion thereof, is tax deductible, or such earlier date as the Committee shall determine in its sole discretion. Notwithstanding the
forgoing, with respect to any Award subject to Section 409A of the Code, the Committee shall not take any action described in the preceding sentence unless it determines that such action will not result in any adverse tax consequences for any
Participant under Section 409A of the Code. 

  

	 	(b)	If, pursuant to any Award granted under the Plan, a Participant is entitled to receive a payment on a specified date, such payment shall be deemed made as of
such specified date if it is made (i) not earlier than 30 days before such specified date and (ii) not later than December 31 of the year in which such specified date occurs or, if later, the fifteenth day of the third month following
such specified date, in each case provided that the Participant shall not be permitted, directly or indirectly, to designate the taxable year in which such payment is made. 

  

	 	(c)	Notwithstanding the foregoing, if a Participant is a Specified Employee at the time of his or her Separation from Service, any payment(s) with respect to any
Award subject to Section 409A of the Code to which such Participant would otherwise be entitled by reason of such Separation from Service shall be made on the date that is six months after the Participant’s Separation from Service (or, if
earlier, the date of the Participant’s death). 

  

	 	(d)	If, pursuant to any Award granted under the Plan, a Participant is entitled to a series of installment payments, such Participant’s right to the series of
installment payments shall be treated as a right to a series of separate payments and not as a right to a single payment. For purposes of the preceding sentence, the term “series of installment payments” has the same meaning as provided in
Section 1.409A-2(b)(2)(iii) of the Treasury Regulations. 

  

 10 

	12.	Nontransferability 

 Awards granted under the Plan, and during any period of restriction on transferability, shares of Common Stock issued in connection with the exercise of an Option or a SAR, may not be sold, pledged, hypothecated, assigned, margined or
otherwise transferred in any manner other than by will or the laws of descent and distribution, unless and until the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed or have been waived by the
Committee. No Award or interest or right therein shall be subject to the debts, contracts or engagements of a Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge,
encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law, by judgment, lien, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy and divorce),
and any attempted disposition thereof shall be null and void, of no effect, and not binding on the Company in any way. Notwithstanding the foregoing, the Committee may, in its sole discretion, permit (on such terms, conditions and limitations as it
may establish) Nonqualified Stock Options (including non-qualified Reload Options) and/or shares issued in connection with an Option or a SAR exercise that are subject to restrictions on transferability, to be transferred one time to a member of a
Participant’s immediate family or to a trust or similar vehicle for the benefit of a Participant’s immediate family members. During the lifetime of a Participant, all rights with respect to Awards shall be exercisable only by such
Participant or, if applicable pursuant to the preceding sentence, a permitted transferee. 
  

	13.	Change of Control 

  

	(a)	Notwithstanding any provisions of this Plan to the contrary, the Committee may, in its sole discretion, at the time an Award is made hereunder or at any time prior to,
coincident with or after the time of a Change of Control: 

  

	 	(i)	provide for the acceleration of any time periods, or the waiver of any other conditions, relating to the vesting, exercise, payment or distribution of an Award so that
any Award to a Participant whose employment has been terminated as a result of a Change of Control may be vested, exercised, paid or distributed in full on or before a date fixed by the Committee; 

  

	 	(ii)	provide for the purchase of any Awards from a Participant whose employment has been terminated as a result of a Change of Control, upon the Participant’s request,
for an amount of cash equal to the amount that could have been obtained upon the exercise, payment or distribution of such rights had such Award been currently exercisable or payable; 

  

	 	(iii)	provide for the termination of any then outstanding Awards or make any other adjustment to the Awards then outstanding as the Committee deems necessary or appropriate
to reflect such transaction or change; or 

  

	 	(iv)	cause the Awards then outstanding to be assumed, or new rights substituted therefore, by the surviving corporation in such change. 

 For purposes of sub-paragraphs (i) and (ii) above, any Participant whose employment is terminated by the Company other than for
“gross misconduct,” or by the Participant for “good reason” (each as defined in the applicable Award Agreement) upon, or on or prior to the first anniversary of, a Change of Control, shall be deemed to have been terminated as a
result of the Change of Control. 
  

	(b)	A “Change of Control” shall be deemed to occur if and when: 

  

	 	(i)	any person, including a “person” as such term is used in Section 14(d)(2) of the 1934 Act (a “Person”), is or becomes a beneficial owner (as
such term is defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of securities of the Company representing 25 percent (25%) or more of the combined voting power of the Company’s then outstanding securities (provided,
however, that, notwithstanding the foregoing, a “Change of Control” shall not include consummation of the exchange of preferred securities owned by the United States government for Common Stock, as announced by the Company in a press
release dated February 27, 2009); 

  

 11 

	 	(ii)	any plan or proposal for the dissolution or liquidation of the Company is adopted by the stockholders of the Company; 

  

	 	(iii)	individuals who, as of April 21, 2009, constituted the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to April 21, 2009 whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding for this purpose any such individual whose initial assumption of office occurs as a result of either an actual or
threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the 1934 Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

  

	 	(iv)	all or substantially all of the assets of the Company are sold, transferred or distributed; or 

  

	 	(v)	there occurs a reorganization, merger, consolidation or other corporate transaction involving the Company (a “Transaction”), in each case, with respect to
which the stockholders of the Company immediately prior to such Transaction do not, immediately after the Transaction, own more than 50 percent (50%) of the combined voting power of the Company or other corporation resulting from such
Transaction in substantially the same respective proportions as such stockholders’ ownership of the voting power of the Company immediately before such Transaction. 

  

	(c)	Notwithstanding the foregoing, with respect to Awards subject to Section 409A of the Code, the effect of a Change of Control and what constitutes a Change of
Control shall be set forth in the underlying Award programs and/or Award Agreements. 

  

	14.	Award Agreements 

 Each
Award under the Plan shall be evidenced by an Award Agreement (as such may be amended from time to time) that sets forth the terms, conditions, restrictions and limitations applicable to the Award, including, but not limited to, the provisions
governing vesting, exercisability, payment, forfeiture, and termination of employment, all or some of which may be incorporated by reference into one or more other documents delivered or otherwise made available to a Participant in connection with
an Award. The Committee need not require the execution of such document by the Participant, in which case acceptance of the Award by the Participant shall constitute agreement by the Participant to the terms, conditions, restrictions and limitations
set forth in the Plan and the Award Agreement as well as the administrative guidelines and practices of the Company in effect from time to time. 
  

	15.	Tax Withholding 

 Participants shall be solely responsible for any applicable taxes (including without limitation income, payroll and excise taxes) and penalties, and any interest that accrues thereon, which they incur in connection with the receipt, vesting
or exercise of any Award. The Company and its Subsidiaries shall have the right to require payment of, or may deduct from any payment made under the Plan or otherwise to a Participant, or may permit shares to be tendered or sold, including shares of
Common Stock delivered or vested in connection with an Award, in an amount sufficient to cover withholding of any federal, state, local, foreign or other governmental taxes or charges required by law or such greater amount of withholding as the
Committee shall determine from time to time and to take such other action as may be necessary to satisfy any such withholding obligations. The value of any shares allowed to be withheld or tendered for tax withholding may not exceed the amount
allowed consistent with fixed plan accounting in accordance with U.S. generally accepted accounting principles, to the extent applicable. It shall be a condition to the obligation of the Company to issue Common Stock upon the exercise of an Option
or a SAR that the Participant pay to the Company, on demand, such amount as may be requested by the Company for the purpose of satisfying any tax withholding liability. If the amount is not paid, the Company may refuse to issue shares. 

 

 12 

	16.	Other Benefit and Compensation Programs 

 Awards received by Participants under the Plan shall not be deemed a part of a Participant’s regular, recurring compensation for purposes of calculating payments or benefits from any Company benefit
plan or severance program unless specifically provided for under the plan or program. Unless specifically set forth in an Award Agreement, Awards under the Plan are not intended as payment for compensation that otherwise would have been delivered in
cash, and even if so intended, such Awards shall be subject to such vesting requirements and other terms, conditions and restrictions as may be provided in the Award Agreement. 
  

	17.	Unfunded Plan 

 Unless
otherwise determined by the Committee, the Plan shall be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds. The Plan shall not establish any fiduciary relationship between the Company and any Participant
or other person. To the extent any Participant holds any rights by virtue of an Award granted under the Plan, such rights shall constitute general unsecured liabilities of the Company and shall not confer upon any Participant or any other person or
entity any right, title, or interest in any assets of the Company. 
  

	18.	Expenses of the Plan 

 The
expenses of the administration of the Plan shall be borne by the Company and its Subsidiaries. The Company may require Subsidiaries to pay for the Common Stock issued under the Plan. 
  

	19.	Rights as a Stockholder 

 Unless the Committee determines otherwise, a Participant shall not have any rights as a stockholder with respect to shares of Common Stock covered by an Award until the date the Participant becomes the holder of record with respect to such
shares. No adjustment will be made for dividends or other rights for which the record date is prior to such date, except as provided in Section 9. 
  

	20.	Future Rights 

 No
Employee shall have any claim or right to be granted an Award under the Plan. There shall be no obligation of uniformity of treatment of Employees under the Plan. Further, the Company and its Subsidiaries may adopt other compensation programs, plans
or arrangements as it deems appropriate or necessary. The adoption of the Plan shall not confer upon any Employee any right to continued employment in any particular position or at any particular rate of compensation, nor shall it interfere in any
way with the right of the Company or a Subsidiary to terminate the employment of its Employees at any time, free from any claim or liability under the Plan. 
  

	21.	Amendment and Termination 

  

	(a)	 The Plan and any Award may be amended, suspended or terminated at any time by the Board, provided that no amendment shall be made without stockholder
approval, if it would (i) materially increase the number of shares available under the Plan, (ii) materially expand the types of awards available under the Plan, (iii) materially expand the class of persons eligible to participate in
the Plan, (iv) materially extend the term of the Plan, (v) materially change the method of determining the exercise price of an Award, (vi) delete or limit the prohibition against repricing contained in Section 4(d), or
(vii) otherwise require approval by the stockholders of the Company in order to comply with applicable law or the rules of the New York Stock Exchange (or, if the Common Stock is not traded on the New York Stock Exchange, the principal national
securities exchange upon which the Common Stock is traded or quoted). No such amendment referred to above shall be effective unless and until it has been approved by the stockholders of the Company. Notwithstanding the foregoing, with respect to
Awards subject to Section 409A of the Code, any

  

 13 

	 	 
amendment, suspension or termination of the Plan or any such Award shall conform to the requirements of Section 409A of the Code. Except as otherwise provided in Section 13(a) and
Section 21(b) and (c), no termination, suspension or amendment of the Plan or any Award shall adversely affect the right of any Participant with respect to any Award theretofore granted, as determined by the Committee, without such
Participant’s written consent. Unless terminated earlier by the Board, the Plan will terminate on April 21, 2014. 

  

	(b)	The Committee may amend or modify the terms and conditions of an Award to the extent that the Committee determines, in its sole discretion, that the terms and
conditions of the Award violate or may violate Section 409A of the Code; provided, however, that (i) no such amendment or modification shall be made without the Participant’s written consent if such amendment or modification would
violate the terms and conditions of a Participant’s offer letter or employment agreement, and (ii) unless the Committee determines otherwise, any such amendment or modification of an Award made pursuant to this Section 21(b) shall
maintain, to the maximum extent practicable, the original intent of the applicable Award provision without contravening the provisions of Section 409A of the Code. The amendment or modification of any Award pursuant to this Section 21(b)
shall be at the Committee’s sole discretion and the Committee shall not be obligated to amend or modify any Award or the Plan, nor shall the Company be liable for any adverse tax or other consequences to a Participant resulting from such
amendments or modifications or the Committee’s failure to make any such amendments or modifications for purposes of complying with Section 409A of the Code or for any other purpose. To the extent the Committee amends or modifies an Award
pursuant to this Section 21(b), the Participant shall receive notification of any such changes to his or her Award and, unless the Committee determines otherwise, the changes described in such notification shall be deemed to amend the terms and
conditions of the applicable Award and Award Agreement. 

  

	(c)	To the extent that a Participant and an Award are subject to Section 111 of the Emergency Economic Stabilization Act of 2008 and any regulations, guidance or
interpretations that may from time to time be promulgated thereunder (“EESA”), then any payment of any kind provided for by, or accrued with respect to, the Award must comply with EESA, and the Award Agreement and the Plan shall be
interpreted or reformed to so comply. If the making of any payment pursuant to, or accrued with respect to, the Award would violate EESA, or if the making of such payment, or accrual, may in the judgment of the Company limit or adversely impact the
ability of the Company to participate in, or the terms of the Company’s participation in, the Troubled Asset Relief Program, the Capital Purchase Program, or to qualify for any other relief under EESA, the affected Participants shall be deemed
to have waived their rights to such payments or accruals. In addition, if applicable, an Award will be subject to forfeiture or repayment if the Award is based on performance metrics that are later determined to be materially inaccurate. Award
Agreements shall provide that, if applicable, Participants will grant to the U.S. Treasury (or other body of the U.S. government) and to the Company a waiver in a form acceptable to the U.S. Treasury (or other body) and the Company releasing the
U.S. Treasury (or other body) and the Company from any claims that Participants may otherwise have as a result of the issuance of any regulations, guidance or interpretations that adversely modify the terms of an Award that would not otherwise
comply with the executive compensation and corporate governance requirements of EESA or any securities purchase agreement or other agreement entered into between the Company and the U.S. Treasury (or other body) pursuant to EESA.

  

	22.	Successors and Assigns 

 The Plan and any applicable Award Agreement entered into under the Plan shall be binding on all successors and assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator or
trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors. 
  

 14 

	23.	Governing Law 

 The Plan
and all agreements entered into under the Plan shall be construed in accordance with and governed by the laws of the State of New York. 
  

	24.	No Liability With Respect to Tax Qualification or Adverse Tax Treatment 

 Notwithstanding any provision of this Plan to the contrary, in no event shall the Company or any Subsidiary be liable to a Participant on
account of an Award’s failure to (i) qualify for favorable U.S. or foreign tax treatment or (ii) avoid adverse tax treatment under U.S. or foreign law, including, without limitation, Section 409A of the Code. 
  

 15Maktoob.com Inc. (BVI) Share Option Plan 2 (the "Maktoob Plan")

 Exhibit 4.1 
 MAKTOOB.com Inc. (BVI) 
 SHARE OPTION PLAN
2 
  

	1.	PURPOSE 

 This
share option plan (the “Plan”) is intended to provide incentives to selected employees, directors and officers (the “Eligible Employees”) of Maktoob.com Inc. BVI (“the Company”) and of any present or future parent or
subsidiaries of the Company (collectively. “Related Corporations”) by providing such employees with an option to purchase a specified number of non-voting ordinary shares of par value US$0.01 each in the Company pursuant to the
Company’s Memorandum and Articles of Association in force on the date hereof (the “Shares”) and further subject to the separate share option agreements granted pursuant to this Plan and made between the Company and the relevant
Eligible Employees (the “Share Option”). The Company may, as determined by its Board of Directors or any administrative committee, also grant Share Options to employees of Related Corporations and other companies which are connected with
the operations of The Company. The Share Options granted pursuant to this Plan are referred to hereafter individually as a “Share Option” and collectively as the “Share Options”. As used herein, the terms “parent” and
“subsidiary” mean “Parent Corporation” and “Subsidiary Corporation”, respectively. 
  

	2.	ADMINISTRATION OF THE PLAN 

  

	A.	Board or Committee Administration. The Plan shall be administered by the Board of Directors of the Company (the “Board”). The Board may appoint
a Compensation Committee (as the case may be, the “Committee”), consisting of at least the Maktoob.com CEO and two (2) Maktoob.com Board Directors from Abraaj Capital Limited, to administer the Plan and to grant Share Options
hereunder, provided such Committee is delegated such powers in accordance with applicable law. (All references in this Plan to the “Committee” shall mean the Board if no such Compensation Committee has been so appointed). If the Company
registers any class or series of equity security pursuant to the securities laws of any jurisdiction, the Plan shall be administered in accordance with the applicable provisions set forth in such securities laws. 

  

	B.	Authority of Board or Committee. Subject to the terms of the Plan, the Committee shall have the authority to: (i) determine the employees of the
Company and Related Corporations (from among the class of employees eligible under paragraph 3 to whom the Share Options may be granted, and to determine such other persons to whom the Share Options may be granted: (ii) determine the time or
times at which the Share Options may be granted: (iii) determine the strike price at which the Shares subject to each Share Option may be purchased, which price shall not be less than the minimum specified in paragraph 6: (iv) determine
(subject to paragraph 7) the time or times when each Share Option shall become exercisable and the total duration of the exercise period: (v) determine whether restrictions such as repurchase options are to be imposed on the Shares subject to
the Share Options and the nature of any such restrictions: (vi) impose such other terms and conditions with respect to the Share Options not inconsistent with the terms of this Plan and the Company’s Memorandum and Articles of Association
in force on the date hereof as it deems necessary or desirable: and (vii) interpret the Plan and prescribe and rescind rules and regulations relating to it. 

 The interpretation and construction by the Committee of any provisions of the Plan or of any Share Option granted under it shall be final
unless otherwise determined by the Board. The Committee may from time to time adopt such rules and regulations for carrying out the Plan as it may deem best. No member of the Board or the Committee shall be liable for any action or determination
made in good faith with respect to the Plan or any Share Option granted under it. 
  

 1 

	C.	Committee Actions. The Committee may select one of its members as its chairman and shall hold meetings at such time and places as it may determine. Acts
by a majority of the Committee, acting at a meeting (whether held in person or by teleconference), or acts reduced to or approved in writing by all of the members of the Committee, shall be the valid acts of the Committee. From time to time the
Board may increase the size of the Committee and appoint additional members thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies however caused, or remove all members of the Committee and
thereafter directly administer the Plan, subject to compliance with the Company’s Memorandum and Articles of Association in force on the date thereof and paragraph 2A. 

  

	D.	Grant of Share Option to Board Members. A Share Option may be granted to members of the Board, subject to compliance with the applicable securities laws
when required by paragraph 2A. All grants of Share Options to members of the Board shall be made in all respects in accordance with the provisions of this Plan applicable to other eligible persons. 

  

	3.	ELIGIBLE EMPLOYEES AND OTHERS 

 The Share Option may be granted to any employee of the Company or any Related Corporation. The Committee may take into consideration a recipient’s individual circumstances in determining whether to
grant a Share Option. Granting a Share Option to any individual or entity shall neither entitle that individual or entity to, nor disqualify him from, participation in any other grant of share options. 
  

	4.	NON-VOTING ORDINARY SHARES 

 The Shares subject to the Share Option shall be authorised but unissued non-voting ordinary shares of the Company or non-voting ordinary Shares repurchased or redeemed and cancelled by the Company in accordance with the Companies Law of the
British Virgin Islands. The aggregate number of Shares which may be issued pursuant to the Plan is up to 891,666 (Eight Hundred Ninety One Thousand, and Six Hundred and Sixty Six) subject to adjustment as provided in paragraph 13. Any such Shares
may be issued pursuant to the exercise of the Share Options so long as the aggregate number of Shares so issued does not exceed such number, as adjusted. Until such time as the Company becomes subject to the certain provision of the applicable
securities laws with respect to compensation earned under this Plan, if any Share Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole
or in part or if any Shares issued pursuant to a Share Option have been repurchased by the Company in accordance with the terms of the agreement or instrument pursuant to which the Share Option is granted, then the unpurchased Shares subject to such
Share Option and any Shares issued pursuant to a Share Option that have been so repurchased by the Company (or Shares in substitution thereof) shall again be available for grant under the Plan. 
  

	5.	GRANTING OF SHARE RIGHTS 

 The date of grant of a Share Option under the Plan will be the date specified by the Committee at the time it grants the Share Option. 
  

	6.	MINIMUM OPTION PRICE; LIMITATIONS 

 The minimum strike price per Share specified in the share option agreement relating to each Share Option granted under the Plan shall be US$1.40 (One US Dollar and Forty Cents). 
  

 2 

	7.	OPTION DURATION 

 Subject to earlier termination as provided in paragraphs 9 and 10, each Share Option shall expire on the date specified by the Committee and set forth in the executed share option agreement granting such Share Option, provided that the
Share Option shall in any event expire not more than seven (7) years from the date of grant. 
  

	8.	EXERCISE OF SHARE OPTION 

  

	A.	Subject to the provisions of paragraphs 9 through 13, each Share Option granted under the Plan shall be exercisable as follows: Unless otherwise specified by the
Committee or the Board and subject to paragraphs 9 and 10, the Share Options granted to Eligible Employees shall vest as follows: 

  

	 	(i)	100% on the third anniversary of the Vesting Commencement Date: 

 provided the optionholder has remained continuously employed by the Company on or prior to the relevant dates upon which additional Shares become purchasable pursuant to the relevant share option
agreement. The “Vesting Commencement Date” means the execution date of any share option agreement. 
 The Board or the
Committee may also specify such other conditions precedent as it deems appropriate to the exercise of a Share Option. The Board or the Committee may specify a different date from the actual date of grant to be the date of grant of a Share Option for
the purposes of the Plan. 
  

	B.	Full Vesting of Installments. Once an installment becomes exercisable it shall remain exercisable until expiration or termination of the Share Option, unless otherwise
specified by the Board or the Committee. 

  

	C.	Acceleration of Vesting. The Board or the Committee shall have the right to accelerate the vesting of any installment of any Share Option, as set forth in the relevant
share option agreement. In addition, the date of exercise of any Share Option shall accelerate and vest immediately prior to the occurrence of an Exit Event provided that the determination by the Board of the point at which an Exit Event occurs
shall be conclusive and binding on all parties. As soon as practicable before the date set for the occurrence of the Exit Event (as determined by the Board), the Board shall notify each optionholder of such date and make such arrangements as it
considers appropriate to enable optionholders to exercise their options (such exercise being conditional on the occurrence of the Exit Event). Unexercised options shall lapse immediately after the occurrence of the Exit Event. An Exit Event shall
mean either (a) the acquisition of a Controlling Interest in the Company by a Buyer, as defined in and pursuant to the Company’s relevant articles of the Memorandum and Articles of Association and the Subscription and Shareholders
Agreement: or (b) the realization or disposal of substantially all of the assets of the Company by the Company. 

 The Company shall have the right to satisfy any Share Option granted under this Plan by making a cash payment equal to the net gain (if any) the optionholder would receive if he were to exercise the Share Option and receive Shares or in
such other manner as the Committee may agree. 
  

 3 

	9.	TERMINATION OF EMPLOYMENT FOR REASONS OTHER THAN DEATH OR DISABILITY, FRAUD OR DISMISSAL FOR CAUSE 

  

	(a)	If an optionholder ceases to be employed by the Company or any Related Corporations, or ceases to be an officer of the Company or any Related Corporations, other than
by reason of death or disability, or fraud or dismissal for cause, as defined in paragraph 10, any unvested part of his or her Share Option (as at the date of cessation). shall automatically lapse on the date of such cessation of employment, but as
regards the vested part. it may be exercised and shall terminate after the passage of three (3) months from the date of termination of his or her employment, but in no event later than on their expiration date specified in the relevant share
option agreement. The optionholder shall have the right, with regard to the Shares the optionholder has previously acquired and/or will acquire pursuant to the exercise of a vested Share Option, and still holds, to either retain the Shares acquired
from such exercise, subject to the Company’s right to purchase the Shares held by the optionholder at the Fair Market Value (as defined in paragraph 10(B)(i)) at any time (including a Listing) after the date the optionholder ceases to be
employed by the Company or any Related Corporations, or at any time prior to a Listing (as defined in the Company’s Subscription and Shareholders Agreement), sell the same to the Company at the Fair Market Value to be paid as provided in
paragraph 10(B)(ii). 

 Nothing in the Plan shall be deemed to give any grantee of any Share Option the right to be
retained in employment or other service by the Company or any Related Corporation for any period of time. The Board or the Committee may establish such provisions in individual share option agreements as it may deem appropriate with respect to the
treatment of the Share Options other than upon the termination of the employment of the holder of the Share Option. No optionholder shall be entitled to any compensation whatsoever by reason of any termination or alteration of rights under the Plan.

  

	10.	DEATH; DISABILITY; FRAUD OR DISMISSAL FOR CAUSE 

  

	A.	Death. If an optionholder ceases to be employed by the Company or any Related Corporations or ceases to be an officer of the Company or any Related Corporations by
reason of the optionholder’s death all installments of the optionholder’s Share Option shall vest immediately and the Share Option may be exercised by the optionholder’s legal representative(s), at any time after such date but,
subject to paragraph 8D, in no event later than the final expiration date set forth in the relevant share option agreement. The legal representatives of the optionholder shall have the right, with regard to all the Shares that the optionholder has
previously acquired and/or which the legal representatives of the optionholder will acquire pursuant to the exercise of a vested Share Option, and still holds, to either retain such Shares acquired from such exercise, subject to the Company’s
right to purchase the Shares held by the optionholder at the Fair Market Value at any time (including a Listing) upon the death of the optionholder, or at any time prior to a Listing, to sell the same to the Company at the Fair Market Value to be
paid as provided in paragraph 10(B)(ii). 

  

	B.	Disability. If an optionholder ceases to be employed by the Company or any Related Corporations or ceases to be an officer of the Company or any Related Corporations by
reason of his disability (as evidenced to the satisfaction of the Company) all installments of his Share Option shall vest immediately and, the Share Option may be exercised by the optionholder (or his legal representative(s), at any time after such
date, subject to paragraph 8D, but in no event later than the final expiration date set forth in the relevant share option agreement. For the purposes of the Plan, the term “disability” shall mean “permanent and total
disability”. The optionholder (or his legal representatives) shall have the right, with regard to the Shares that the optionholder has previously acquired and/or which his legal representatives will acquire pursuant to this exercise of a vested
Share Option, and still holds, to either retain such Shares acquired from such exercise, subject to the Company’s right to purchase the Shares held by the optionholder at the Fair Market Value at any time (including a Listing) upon the
disability of the optionholder, or at any time prior to a Listing, sell the same to the Company at the Fair Market Value to be paid as provided in paragraph 10(B)(ii). 

  

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	 	(i)	For the purposes of paragraphs 9 and 10. “Fair Market Value” shall be determined as of the last business day (the “Valuation Date”) for which the
prices or quotes, if the Shares are then traded on a national securities exchange, are available immediately prior to the date of cessation of employment and shall mean the higher of (A) the average (on the Valuation Date) of the high and low
prices of the Shares on the principal national securities exchange on which the Shares are traded and (B) the average closing price for 5 days preceding the Valuation Date. If the Shares are not publicly traded on the date of cessation of
employment, the Fair Market Value shall be deemed to be the fair value on the date of cessation of employment, as determined by the Committee or the Board. 

  

	 	(ii)	Subject to the exercise by the optionholder of the Share Option pursuant to paragraphs 9 or 10 above, the Company shall fully disburse an amount. equal to the Fair
Market Value upon the determination of the Fair Market Value as set out above, or agree to cash cancel any vested Share Option which has not been exercised in return for the optionholder receiving the net gain that the optionholder would otherwise
obtain from exercising his or her vested Share Option, in immediately available and freely transferable funds to the account of the optionholder or his legal representatives (as applicable) as the Company shall determine, or in such other manner as
the Company may otherwise agree. 

  

	C.	Fraud or Dismissal for Cause. If an optionholder ceases to be employed by the Company or any Related Corporations or ceases to be an officer of the Company or any
Related Corporations by reason of his fraud or by reason of his dismissal from his employment for cause, no vested and unexercised or further installments of the optionholder’s Share Option shall be or become exercisable following the date of
such cessation of employment, and his Share Option shall terminate immediately. The Company shall have the option (but not the obligation) to purchase any Shares held by the optionholder at the strike price. 

  

	11.	ASSIGNABILITY 

 No
Share Option shall be assignable or transferable by the optionholder unless specified in the separate share option agreement and during the lifetime of the grantee each Share Option shall be exercisable only by him or her. No Share Option and no
right to exercise any portion thereof, may be assigned or transferred by way of security. Upon any attempt so to assign or create security contrary to the provisions thereof or hereof, such Share Option and such rights and privileges shall
immediately become null and void. 
  

	12.	TERMS AND CONDITIONS OF SHARE RIGHTS 

 The Share Options shall be conferred by separate share option agreements (which need not be identical) in such forms as the Committee may from time to time approve. Such instruments shall conform to the
terms and conditions set forth in paragraphs 6 through 11 hereof to the extent applicable and may contain such other provisions as the Committee deems advisable which are not inconsistent with this Plan. Without limiting the foregoing, such
provisions may include transfer restrictions, rights of refusal, vesting provisions, repurchase rights and drag- along rights with respect to Shares, and such other restrictions as the Committee may deem appropriate. The Board (and, if so
authorised, the Committee) may from time to time confer authority and responsibility on one or more of its own members and/or one or more officers of the Company to execute and deliver such separate share option agreements. 
  

 5 

	13.	ADJUSTMENTS 

 Upon
the occurrence of any of the following events, an optionholder’s rights with respect to a Share Option granted to him or her hereunder shall be adjusted as hereinafter provided, unless otherwise specifically provided in the written share option
agreement between the optionholder and the Company relating to such Share Option. 
  

	A.	Share Dividends and Share Splits. Unless anything to the contrary is provided in a separate share option agreement, if the authorised non-voting ordinary Shares in the
Company shall be subdivided or combined into a greater or smaller number of shares or if the Company shall issue any non-voting ordinary Share as a dividend on its issued and outstanding non-voting ordinary Share, the number of Shares deliverable
upon the exercise of the Share Option shall be appropriately increased or decreased proportionately, and appropriate adjustments shall be made in the purchase price per Share to reflect such subdivision, combination or dividend.

  

	B.	Consolidations. Mergers or Sales of Assets or Shares. In case of any reclassification, change or conversion of Shares issuable upon any exercise of a Share Option
(other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or into another corporation (other than a merger
with another corporation in which the Company is a continuing body corporate and which does not result in any reclassification or change to rights attaching to the Shares issuable upon exercise of the Share Option), or in case of any sale of all or
substantially all of the assets of the Company, the Company. or such successor or purchasing corporation, as the case may be, shall execute a new share option agreement with each optionholder (in form and substance satisfactory to each such
optionholder) providing that the optionholder shall have the right to exercise such new share option and upon such exercise to receive, in lieu of the Shares which would have been issuable upon any exercise of the Share Option pursuant to his or her
particular share option agreement, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, change or merger by a holder of the same number of Shares. Such new share option shall provide for
adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this paragraph 13B. The provisions of this sub-paragraph B shall apply mutatis mutandis to successive reclassification, changes, mergers and
transfers. 

  

	C.	Recapitalisation or Reorganisation. In the event of a reorganisation of the Company (other than a transaction described in sub-paragraph B above) pursuant to which
securities of the Company or of another corporation are issued with respect to the issued and outstanding Shares, an optionholder upon exercising an Option shall be entitled to receive for the purchase price paid upon such exercise the securities he
would have received if he/she had exercised his/her Share Option prior to such recapitalisation or reorganisation and had been the owner of the Shares receivable upon such exercise at such time. 

  

	D.	Issuances of Securities. Except as expressly provided herein, no issuance by the Company of shares of any class other than non-voting ordinary shares, or securities
convertible into shares of any class other than non-voting ordinary shares, shall affect, and no adjustment by reason thereof shall be made with respect to the number or price of Shares subject to the Share Option. 

  

	E.	Fractional Shares. No fractional Shares shall be issued under the Plan, and the optionholder shall receive from the Company cash in lieu of such fractional Shares a
cash payment based upon the strike price then in effect. 

  

	F.	 Adjustments. Upon the happening of any of the foregoing events described in sub-paragraphs A, B or C above, the class and aggregate number of Shares
set forth in paragraph 4 hereof that are subject to the Share Option which previously have been or subsequently may be granted under the Plan shall also be appropriately adjusted to reflect the events described in such

  

 6 

	 	 
sub-paragraphs. The Committee or the successor Board, as applicable, shall determine the specific adjustments to be made under this paragraph 13 and its determination shall be conclusive. If any
person or entity owning Shares issued upon exercise of a Share Option conferred pursuant to a share option agreement receives shares or securities or cash in connection with a corporate transaction described in sub-paragraphs A, B or C above as a
result of owning such Shares, except as otherwise provided in sub-paragraph B, such shares or securities or cash shall be subject to all of the conditions and restrictions applicable to the Shares with respect to which such shares or securities or
cash were issued, unless otherwise determined by the Committee or the successor Board. 

  

	14.	MEANS OF EXERCISING SHARE OPTION 

  

	A.	A Share Option (or full installment thereof), which is limited to those installments of the Share Option which have previously vested, shall be exercised by the holder
thereof giving written notice to the Company at its [principal office address]. Such notice shall identify the Share Option (or the full installment thereof) being exercised and specify the number of Shares as to which such Share Option (or the full
installment thereof) is being exercised, accompanied by a bankers draft, cheque or wire transfer (or payment by such other means as specified by the Committee or the Board) equal to the then-applicable strike price multiplied by the number of Shares
being purchased. The holder of a Share Option shall not have the rights of a shareholder with respect to any Shares until the optionholder’s name has been entered upon the Company’s register of members. Except as expressly provided above
in paragraph 13 with respect to changes in capitalisation and dividends, no adjustment shall be made for dividends or similar rights whose record date falls prior to such date of entry upon the Company’s register of members.

  

	15.	TERM AND AMENDMENT OF PLAN 

 The Plan shall expire on that date which is ten (10) years from the date of its adoption by the Board (except as to the Share Options outstanding on that date, if any). 
 The Board may terminate or amend the Plan in any respect at any time, provided that (a) the total number of Shares that may be issued
under the Plan may not be increased (except by adjustment pursuant to paragraph 13); (b) the provisions of paragraph 3 regarding eligibility for grants of the Share Options may not be modified; (c) the provisions of paragraph 6 regarding
the strike price at which Shares may be offered pursuant to the Share Options may not be modified (except by adjustment pursuant to paragraph 13); and (d) the expiration date of the Plan as set forth in this paragraph 15 may not be extended
without (in each case) the prior written approval of the existing optionholders. 
  

	16.	AMENDMENT OF RIGHTS 

 The Board or Committee may amend, modify or terminate any Share Option including, but not limited to, substituting therefor another Share Option of the same or a different type, changing the date of exercise; provided that, except as
otherwise provided in paragraphs 9. 10. and 15. a majority of the optionholder’s consent to such action shall be required unless the Board or Committee determines that the action, taking into account any related action, would not materially and
adversely affect the optionholder. 
  

	17.	APPLICATION OF FUNDS 

 The proceeds received by the Company from the exercise of the Share Options granted under the Plan shall be used to satisfy the Company’s obligations and to exercise its rights under any option or other agreement. 
  

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	18.	GOVERNMENTAL REGULATION 

 The Company’s obligation to issue and allot Shares under this Plan is subject to the approval of any governmental authority required in connection with the authorisation, issuance or sale of such Shares. 
  

	19.	WITHHOLDING OF ADDITIONAL INCOME TAXES 

 Upon the exercise of a Share Option, the Company, in accordance with tax law or regulations to which the optionholder is subject, may require the holder of the Share Option to pay additional withholding
taxes in respect of the amount that is considered compensation forming part of such person’s gross income. The Committee in its discretion may make the exercise of a Share Option conditional upon the optionholder’s agreement to pay such
additional withholding taxes. 
  

	20.	GOVERNING LAW; CONSTRUCTION 

 The validity and construction of the Plan and the share option agreements shall be governed by the laws of the British Virgin Islands. In construing this Plan, the singular shall include the plural and
the masculine gender shall include the feminine and neuter, unless the context otherwise requires. 
  

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