Document:

EX-10.1

 Exhibit 10.1 
 SYNAGEVA BIOPHARMA CORP. 
 2014 EQUITY INCENTIVE PLAN 

1. DEFINITIONS. 
 Unless otherwise specified or unless the context otherwise requires, the following terms, as used in this Synageva BioPharma Corp. 2014 Equity Incentive Plan, have the following meanings: 

Administrator means the Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case the
Administrator means the Committee. 
 Affiliate means a corporation which, for purposes of Section 424 of the Code,
is a parent or subsidiary of the Company, direct or indirect. 
 Agreement means an agreement between the Company and a
Participant pertaining to a Stock Right delivered pursuant to the Plan in such form as the Administrator shall approve. 

Board of Directors means the Board of Directors of the Company. 

Cause means (i) a Participant’s willful failure substantially to perform his or her duties and responsibilities to the
Company or deliberate violation of any Company policy; (ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury to
the Company; (iii) unauthorized use or disclosure by Participant of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation of nondisclosure as a result of his or her
relationship with the Company; or (iv) Participant’s willful breach of any of his or her obligations under any written agreement or covenant with the Company including, but not limited to any non-competition or similar agreement; provided,
however, that any provision in an agreement between a Participant and the Company or an Affiliate, which contains a conflicting definition of Cause for termination and which is in effect at the time of such termination, shall supersede this
definition with respect to that Participant. The determination of the Administrator as to the existence of Cause shall be final and binding on the Participant and the Company and the term “Company” will be interpreted to include any
Affiliate, as appropriate. 
 Code means the United States Internal Revenue Code of 1986, as amended including any
successor statute, regulation and guidance thereto. 
 Committee means the committee of the Board of Directors to which
the Board of Directors has delegated power to act under or pursuant to the provisions of the Plan the composition of which shall at all times satisfy the provisions of Section 162(m) of the Code. 

Common Stock means shares of the Company’s common stock, $0.001 par value per share. 

Company means Synageva BioPharma Corp., a Delaware corporation. 

Consultant means any natural person who is an advisor or consultant that provides bona fide services to the Company or its
Affiliates, provided that such services are not in connection with the offer or sale of securities in a capital raising transaction, and do not directly or indirectly promote or maintain a market for the Company’s or its Affiliates’
securities. 
 Disability or Disabled means permanent and total disability as defined in Section 22(e)(3) of
the Code. 

  
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 Employee means any employee of the Company or of an Affiliate (including, without
limitation, an employee who is also serving as an officer or director of the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the Plan. 

Exchange Act means the Securities Exchange Act of 1934, as amended. 

Fair Market Value of a Share of Common Stock means: 
 (a) If the Common Stock is listed on a national securities exchange or traded in the over-the-counter market and sales
prices are regularly reported for the Common Stock, the closing or, if not applicable, the last price of the Common Stock on the composite tape or other comparable reporting system for the trading day on the applicable date and if such applicable
date is not a trading day, the last market trading day prior to such date; 
 (b) If the Common Stock is not traded on a
national securities exchange but is traded on the over-the-counter market, if sales prices are not regularly reported for the Common Stock for the trading day referred
to in clause (a), and if bid and asked prices for the Common Stock are regularly reported, the mean between the bid and the asked price for the Common Stock at the close of trading in the over-the-counter market for the trading day on which
Common Stock was traded on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; and 
 (c) If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market, such
value as the Administrator, in good faith, shall determine in compliance with applicable laws. 
 ISO means an option
intended to qualify as an incentive stock option under Section 422 of the Code. 

Non-Qualified Option means an option which is not intended to qualify as an ISO.

 Option means an ISO or Non-Qualified Option granted under the Plan.

 Participant means an Employee, director or Consultant of the Company or an Affiliate to whom one or more Stock Rights
are granted under the Plan. As used herein, “Participant” shall include “Participant’s Survivors” where the context requires. 
 Performance Based Award means a Stock Grant or Stock-Based Award as set forth in Paragraph 9 hereof. 
 Performance Goals means performance goals based on one or more of the following criteria: (i) pre-tax income or after-tax income; (ii) income or earnings including operating income,
earnings before or after taxes, interest, depreciation, amortization, and/or extraordinary or special items; (iii) net income excluding amortization of intangible assets, depreciation and impairment of goodwill and intangible assets and/or
excluding charges attributable to the adoption of new accounting pronouncements; (iv) earnings or book value per share (basic or diluted); (v) return on assets (gross or net), return on investment, return on capital, or return on equity;
(vi) return on revenues; (vii) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (viii) economic value created;
(ix) operating margin or profit margin; (x) stock price or total stockholder return; (xi) income or earnings from continuing operations; (xii) cost targets, reductions and savings, expense management, productivity and
efficiencies; (xiii) operational objectives, consisting of one or more objectives based on achieving progress in research and development programs or achieving regulatory milestones related to development and or approval of products; and
(xiv) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration or market share of one or more products or customers, geographic business expansion, customer

  
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satisfaction, employee satisfaction, human resources management, supervision of litigation, information technology, and goals relating to acquisitions, divestitures, joint ventures and similar
transactions. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criterion or the attainment of a percentage increase or decrease in the particular criterion, and may be applied to one
or more of the Company or an Affiliate of the Company, or a division or strategic business unit of the Company, all as determined by the Committee. The Performance Goals may include a threshold level of performance below which no Performance-Based
Award will be issued or no vesting will occur, levels of performance at which Performance-Based Awards will be issued or specified vesting will occur, and a maximum level of performance above which no additional issuances will be made or at which
full vesting will occur. Each of the foregoing Performance Goals shall be evaluated in accordance with generally accepted accounting principles, where applicable, and shall be subject to certification by the Committee. The Committee shall have the
authority to make equitable adjustments to the Performance Goals in recognition of unusual or non-recurring events affecting the Company or any Affiliate or the financial statements of the Company or any Affiliate, in response to changes in
applicable laws or regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in
accounting principles provided that any such change shall at all times satisfy the provisions of Section 162(m) of the Code. 
 Plan means this Synageva BioPharma Corp. 2014 Equity Incentive Plan. 

Securities Act means the Securities Act of 1933, as amended. 

Shares means shares of the Common Stock as to which Stock Rights have been or may be granted under the Plan or any shares of
capital stock into which the Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under the Plan may be authorized and unissued shares or shares held by the Company in its
treasury, or both. 
 Stock-Based Award means a grant by the Company under the Plan of an equity award or an equity based
award which is not an Option or a Stock Grant, which the Committee may, in its sole discretion, structure to qualify in whole or in part as “performance-based compensation” under Section 162(m) of the Code. 

Stock Grant means a grant by the Company of Shares under the Plan, which the Committee may, in its sole discretion, structure to
qualify in whole or in part as “performance-based compensation” under Section 162(m) of the Code. 
 Stock
Right means a right to Shares or the value of Shares of the Company granted pursuant to the Plan — an ISO, a Non-Qualified Option, a Stock Grant or a Stock-Based Award. 

Survivor means a deceased Participant’s legal representatives and/or any person or persons who acquired the
Participant’s rights to a Stock Right by will or by the laws of descent and distribution. 
 2. PURPOSES OF THE
PLAN. 
 The Plan is intended to encourage ownership of Shares by Employees and directors of and certain Consultants to the
Company and its Affiliates in order to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional incentive for them to promote the success of the Company or of an Affiliate.
The Plan provides for the granting of ISOs, Non-Qualified Options, Stock Grants and Stock-Based Awards. 

  
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 3. SHARES SUBJECT TO THE PLAN. 

(a) The number of Shares which may be issued from time to time pursuant to this Plan shall be the sum of: (i) 2,500,000 shares of
Common Stock and (ii) any shares of Common Stock that are represented by awards granted under the Company’s 2005 Stock Plan that are forfeited, expire or are cancelled without delivery of shares of Common Stock or which result in the
forfeiture of shares of Common Stock back to the Company on or after June 4, 2014, or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend,
combination, recapitalization or similar transaction in accordance with Paragraph 23 of this Plan; provided, however, that no more than 1,000,000 Shares shall be added to the Plan pursuant to subsection (ii). 

(b) If an Option ceases to be “outstanding”, in whole or in part (other than by exercise), or if the Company shall reacquire
(at not more than its original issuance price) any Shares issued pursuant to a Stock Grant or Stock-Based Award, or if any Stock Right expires or is forfeited, cancelled, or otherwise terminated or results in any Shares not being issued, the
unissued or reacquired Shares which were subject to such Stock Right shall again be available for issuance from time to time pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part, by tender of
Shares or if the Company or an Affiliate’s tax withholding obligation is satisfied by withholding Shares, the number of Shares deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be
the number of Shares that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. However, in the case of ISOs, the foregoing provisions shall be subject to any limitations under the Code. 

4. ADMINISTRATION OF THE PLAN. 
 The Administrator of the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee shall be the Administrator.
Notwithstanding the foregoing, the Board of Directors may not take any action that would cause any outstanding Stock Right that would otherwise qualify as performance-based compensation under Section 162(m) of the Code to fail to so qualify.
Subject to the provisions of the Plan, the Administrator is authorized to: 
 (a) Interpret the provisions of the Plan and all
Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of the Plan; 

(b) Determine which Employees, directors and Consultants shall be granted Stock Rights; 

(c) Determine the number of Shares for which a Stock Right or Stock Rights shall be granted, provided, however, that in no event shall
Stock Rights with respect to more than 1,000,000 Shares be granted to any Participant in any fiscal year; 
 (d) Specify the
terms and conditions upon which a Stock Right or Stock Rights may be granted; 
 (e) Determine Performance Goals no later than
such time as required to ensure that a Performance-Based Award which is intended to comply with the requirements of Section 162(m) of the Code so complies; 
 (f) Amend any term or condition of any outstanding Stock Right, other than reducing the exercise price or purchase price provided that (i) such term or condition as amended is not prohibited by the
Plan; (ii) any such amendment shall not impair the rights of a Participant under any Stock Right previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s Survivors; and
(iii) any such amendment shall be made only after the Administrator determines whether such amendment would cause any adverse tax consequences to the Participant, including, but not limited to, the annual vesting limitation contained in
Section 422(d) of the Code and described in Paragraph 6(b)(iv) below with respect to ISOs and pursuant to Section 409A of the Code; 
 (g) Make any adjustments in the Performance Goals included in any Performance-Based Awards provided that such adjustments comply with the requirements of Section 162(m) of the Code; and 

  
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 (h) Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems
necessary or appropriate in order to comply with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate the administration of the Plan, which sub-plans may include additional
restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right; 
 provided, however, that all such
interpretations, rules, determinations, terms and conditions shall be made and prescribed in the context of not causing any adverse tax consequences under Section 409A of the Code and preserving the tax status under Section 422 of the Code
of those Options which are designated as ISOs and in accordance with Section 162(m) of the Code for all other Stock Rights to which the Committee has determined Section 162(m) is applicable. Subject to the foregoing, the interpretation and
construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is the Committee. In addition, if the Administrator is
the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. 
 To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate
all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time. Notwithstanding the foregoing, only the Board of Directors or
the Committee shall be authorized to grant a Stock Right to any director of the Company or to any “officer” of the Company as defined by Rule 16a-1 under the Exchange Act. 

5. ELIGIBILITY FOR PARTICIPATION. 
 The Administrator will, in its sole discretion, name the Participants in the Plan; provided, however, that each Participant must be an Employee, director or Consultant of the Company or of an Affiliate at
the time a Stock Right is granted. Notwithstanding the foregoing, the Administrator may authorize the grant of a Stock Right to a person not then an Employee, director or Consultant of the Company or of an Affiliate; provided, however, that the
actual grant of such Stock Right shall be conditioned upon such person becoming eligible to become a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to Employees who are
deemed to be residents of the United States for tax purposes. Non-Qualified Options, Stock Grants and Stock-Based Awards may be granted to any Employee, director or Consultant of the Company or an Affiliate. The granting of any Stock Right to any
individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other grant of Stock Rights or any grant under any other benefit plan established by the Company or any Affiliate for Employees, directors or
Consultants. 
 6. TERMS AND CONDITIONS OF OPTIONS. 

Each Option shall be set forth in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or
requested by the Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent with the terms and conditions specifically required under this Plan, as the Administrator may deem
appropriate including, without limitation, subsequent approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements shall be subject to at least the following terms and conditions: 

(a) Non-Qualified Options: Each Option intended to be a
Non-Qualified Option shall be subject to the terms and conditions which the Administrator determines to be appropriate and in the best interest of the Company, subject to the following minimum standards for
any such Non-Qualified Option: 
 (a) Exercise Price: Each Option Agreement
shall state the exercise price per share of the Shares covered by each Option, which exercise price shall be determined by the Administrator and shall be at least equal to the Fair Market Value per share of Common Stock on the date of grant of the
Option. 

  
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 (ii) Number of Shares: Each Option Agreement shall state the number of Shares to
which it pertains. 
 (iii) Vesting: Each Option Agreement shall state the date or dates on which it first is
exercisable and the date after which it may no longer be exercised, and may provide that the Option rights accrue or become exercisable in installments over a period of months or years, or upon the occurrence of certain performance conditions or the
attainment of stated goals or events. 
 (iv) Additional Conditions: Exercise of any Option may be conditioned upon the
Participant’s execution of a Share purchase agreement in form satisfactory to the Administrator providing for certain protections for the Company and its other shareholders, including requirements that: 

A. The Participant’s or the Participant’s Survivors’ right to sell or transfer the Shares may be restricted; and

 B. The Participant or the Participant’s Survivors may be required to execute letters of investment intent and must also
acknowledge that the Shares will bear legends noting any applicable restrictions. 
 (v) Term of Option: Each Option
shall terminate not more than ten years from the date of the grant or at such earlier time as the Option Agreement may provide. 

(b) ISOs: Each Option intended to be an ISO shall be issued only to an Employee who is deemed to be a resident of the United
States for tax purposes, and shall be subject to the following terms and conditions, with such additional restrictions or changes as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant
regulations and rulings of the Internal Revenue Service: 
 (i) Minimum standards: The ISO shall meet the minimum
standards required of Non-Qualified Options, as described in Paragraph 6(a) above, except clause (i) and (v) thereunder. 
 (ii) Exercise Price: Immediately before the ISO is granted, if the Participant owns, directly or by reason of the applicable attribution rules in Section 424(d) of the Code: 

A. 10% or less of the total combined voting power of all classes of stock of the Company or an Affiliate, the exercise price per
share of the Shares covered by each ISO shall not be less than 100% of the Fair Market Value per share of the Common Stock on the date of grant of the Option; or 
 B. More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, the exercise price per share of the Shares covered by each ISO shall not be less than 110% of
the Fair Market Value per share of the Common Stock on the date of grant of the Option. 
 (iii) Term of Option: For
Participants who own: 
 A. 10% or less of the total combined voting power of all classes of stock of the Company or an
Affiliate, each ISO shall terminate not more than ten years from the date of the grant or at such earlier time as the Option Agreement may provide; or 
 B. More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than five years from the date of the grant or at such earlier
time as the Option Agreement may provide. 
 (iv) Limitation on Yearly Exercise: The Option Agreements shall restrict
the amount of ISOs which may become exercisable in any calendar year (under this or any other ISO plan of the Company or an 

  
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Affiliate) so that the aggregate Fair Market Value (determined on the date each ISO is granted) of the stock with respect to which ISOs are exercisable for the first time by the Participant in
any calendar year does not exceed $100,000. 
 7. TERMS AND CONDITIONS OF STOCK GRANTS. 

Each Stock Grant to a Participant shall state the principal terms in an Agreement duly executed by the Company and, to the extent
required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best interest of
the Company, subject to the following minimum standards: 
 (a) Each Agreement shall state the purchase price per share, if any,
of the Shares covered by each Stock Grant, which purchase price shall be determined by the Administrator but shall not be less than the minimum consideration required by the Delaware General Corporation Law, if any, on the date of the grant of the
Stock Grant; 
 (b) Each Agreement shall state the number of Shares to which the Stock Grant pertains; and 

(c) Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock Grant,
including the time period or attainment of Performance Goals or such other performance criteria upon which such rights shall accrue and the purchase price therefor, if any. 
 8. TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS. 
 The Administrator
shall have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Administrator may determine, including, without limitation, the grant of Shares based upon certain conditions, the grant of
securities convertible into Shares and the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based Award shall be set forth in an Agreement, duly executed by the Company and, to the extent
required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best interest of
the Company. Each Agreement shall include the terms of any right of the Company to terminate the Stock-Based Award without the issuance of Shares, including vesting conditions or the attainment of Performance Goals or events upon which Shares shall
be issued. 
 The Company intends that the Plan and any Stock-Based Awards granted hereunder be exempt from the application of
Section 409A of the Code or meet the requirements of paragraphs (2), (3) and (4) of subsection (a) of Section 409A of the Code, to the extent applicable, and be operated in accordance with Section 409A so that any
compensation deferred under any Stock-Based Award (and applicable investment earnings) shall not be included in income under Section 409A of the Code. Any ambiguities in the Plan shall be construed to effect the intent as described in this
Paragraph 8. 
 9. PERFORMANCE BASED AWARDS. 
 Notwithstanding anything to the contrary herein, during any period when Section 162(m) of the Code is applicable to the Company and the Plan, Stock Rights granted under Paragraph 7 and Paragraph 8
may be granted by the Committee in a manner which is deductible by the Company under Section 162(m) of the Code (“Performance-Based Awards”). A Participant’s Performance-Based Award shall be determined based on the attainment of
written Performance Goals, which must be objective and approved by the Committee for a performance period of between one and five years established by the Committee (i) while the outcome for that performance period is substantially uncertain
and (ii) no more than 90 days after the commencement of the 

  
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performance period to which the Performance Goal relates or, if less, the number of days which is equal to 25% of the relevant performance period. The Committee shall determine whether, with
respect to a performance period, the applicable Performance Goals have been met with respect to a given Participant and, if they have, to so certify and ascertain the amount of the applicable Performance-Based Award. No Performance-Based Awards will
be issued for such performance period until such certification is made by the Committee. The number of shares issued in respect of a Performance-Based Award to a given Participant may be less than the amount determined by the applicable Performance
Goal formula, at the discretion of the Committee. The number of shares issued in respect of a Performance-Based Award determined by the Committee for a performance period shall be paid to the Participant at such time as determined by the Committee
in its sole discretion after the end of such performance period. Nothing in this paragraph shall prohibit the Company from granting Stock-Based Awards subject to performance criteria that do not comply with this Paragraph. 

10. EXERCISE OF OPTIONS AND ISSUE OF SHARES. 
 An Option (or any part or installment thereof) shall be exercised by giving written notice to the Company or its designee (in a form acceptable to the Administrator, which may include electronic notice),
together with provision for payment of the aggregate exercise price in accordance with this Paragraph for the Shares as to which the Option is being exercised, and upon compliance with any other condition(s) set forth in the Option Agreement. Such
notice shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to the Administrator), shall state the number of Shares with respect to which the Option is being exercised and shall
contain any representation required by the Plan or the Option Agreement. Payment of the exercise price for the Shares as to which such Option is being exercised shall be made (i) in United States dollars in cash or by check; or (ii) at the
discretion of the Administrator, through delivery of shares of Common Stock held for at least six months (if required to avoid negative accounting treatment) having a Fair Market Value equal as of the date of the exercise to the aggregate cash
exercise price for the number of Shares as to which the Option is being exercised; or (iii) at the discretion of the Administrator, by having the Company retain from the Shares otherwise issuable upon exercise of the Option, a number of Shares
having a Fair Market Value equal as of the date of exercise to the aggregate exercise price for the number of Shares as to which the Option is being exercised; or (iv) at the discretion of the Administrator, in accordance with a cashless
exercise program established with a securities brokerage firm, and approved by the Administrator; or (v) at the discretion of the Administrator, by any combination of (i), (ii), (iii) and (iv) above; or (vi) at the discretion of
the Administrator, by payment of such other lawful consideration as the Administrator may determine. Notwithstanding the foregoing, the Administrator shall accept only such payment on exercise of an ISO as is permitted by Section 422 of the
Code. 
 The Company shall then reasonably promptly deliver the Shares as to which such Option was exercised to the Participant
(or to the Participant’s Survivors, as the case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply
with any law or regulation (including, without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. The Shares shall, upon delivery, be fully
paid, non-assessable Shares. 
 11. PAYMENT IN CONNECTION WITH THE ISSUANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE
OF SHARES. 
 Any Stock Grant or Stock-Based Award requiring payment of a purchase price for the Shares as to which such
Stock Grant or Stock-Based Award is being granted shall be made (i) in United States dollars in cash or by check; or (ii) at the discretion of the Administrator, through delivery of shares of Common Stock held for at least six months (if
required to avoid negative accounting treatment) and having a Fair Market Value equal as of the date of payment to the purchase price of the Stock Grant or Stock-Based Award; or (iii) at the discretion of the Administrator, by any combination
of (i) and (ii) above; or (iv) at the discretion of the Administrator, by payment of such other lawful consideration as the Administrator may determine. 

  
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 The Company shall when required by the applicable Agreement, reasonably promptly deliver the
Shares as to which such Stock Grant or Stock-Based Award was made to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set forth in the applicable Agreement. In determining what constitutes
“reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or “blue
sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. 
 12.
RIGHTS AS A SHAREHOLDER. 
 No Participant to whom a Stock Right has been granted shall have rights as a shareholder with
respect to any Shares covered by such Stock Right except after due exercise of an Option or issuance of Shares as set forth in any Agreement, tender of the aggregate exercise or purchase price, if any, for the Shares being purchased and registration
of the Shares in the Company’s share register in the name of the Participant. 
 13. ASSIGNABILITY AND TRANSFERABILITY
OF STOCK RIGHTS. 
 By its terms, a Stock Right granted to a Participant shall not be transferable by the Participant other
than (i) by will or by the laws of descent and distribution, or (ii) as approved by the Administrator in its discretion and set forth in the applicable Agreement provided that no Stock Right may be transferred by a Participant for value.
Notwithstanding the foregoing, an ISO transferred except in compliance with clause (i) above shall no longer qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with the prior approval of the Administrator and
in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided above during the Participant’s lifetime a Stock Right shall only be exercisable by or issued to such Participant
(or his or her legal representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment,
pledge, hypothecation or other disposition of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the levy of any attachment or similar process upon a Stock Right, shall be null and void. 

14. EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY. 

Except as otherwise provided in a Participant’s Option Agreement, in the event of a termination of service (whether as an Employee,
director or Consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply: 
 (a) A Participant who ceases to be an Employee, director or Consultant of the Company or of an Affiliate (for any reason other than termination for Cause, Disability, or death for which events there are
special rules in Paragraphs 15, 16, and 17, respectively), may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such termination of service, but only within such term as the Administrator has
designated in a Participant’s Option Agreement. 
 (b) Except as provided in Subparagraph (c) below, or Paragraph 16
or 17, in no event may an Option intended to be an ISO, be exercised later than three months after the Participant’s termination of employment. 
 (c) The provisions of this Paragraph, and not the provisions of Paragraph 16 or 17, shall apply to a Participant who subsequently becomes Disabled or dies after the termination of employment, director
status or consultancy; provided, however, in the case of a Participant’s Disability or death within three months after the termination of employment, director status or consultancy, the Participant or the Participant’s Survivors may
exercise the Option within one year after the date of the Participant’s termination of service, but in no event after the date of expiration of the term of the Option. 

  
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 (d) Notwithstanding anything herein to the contrary, if subsequent to a Participant’s
termination of employment, termination of director status or termination of consultancy, but prior to the exercise of an Option, the Administrator determines that, either prior or subsequent to the Participant’s termination, the Participant
engaged in conduct which would constitute Cause, then such Participant shall forthwith cease to have any right to exercise any Option. 
 (e) A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of temporary disability (any disability other than a Disability as defined in
Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy
with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide; provided, however, that, for ISOs, any leave of absence granted by the Administrator of greater than ninety days, unless pursuant to a contract or
statute that guarantees the right to reemployment, shall cause such ISO to become a Non-Qualified Option on the
181st day following such leave of absence. 

(f) Except as required by law or as set forth in a Participant’s Option Agreement, Options granted under the Plan shall not be
affected by any change of a Participant’s status within or among the Company and any Affiliates, so long as the Participant continues to be an Employee, director or Consultant of the Company or any Affiliate. 

15. EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR CAUSE. 

Except as otherwise provided in a Participant’s Option Agreement, the following rules apply if the Participant’s service
(whether as an Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause prior to the time that all his or her outstanding Options have been exercised: 

(a) All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated for Cause will
immediately be forfeited. 
 (b) Cause is not limited to events which have occurred prior to a Participant’s termination of
service, nor is it necessary that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service but prior to the exercise of an Option, that either
prior or subsequent to the Participant’s termination the Participant engaged in conduct which would constitute Cause, then the right to exercise any Option is forfeited. 
 16. EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY. 
 Except as
otherwise provided in a Participant’s Option Agreement: 
 (a) A Participant who ceases to be an Employee, director or
Consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such Participant to the extent that the Option has become exercisable but has not been exercised on the date of the Participant’s
termination of service due to Disability. A Disabled Participant may exercise the Option only within the period ending one year after the date of the Participant’s termination of service due to Disability, notwithstanding that the Participant
might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not been terminated due to Disability and had continued to be an Employee, director or Consultant or, if earlier, within the
originally prescribed term of the Option. 
 (b) The Administrator shall make the determination both of whether Disability has
occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the
Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 

  
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 17. EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

Except as otherwise provided in a Participant’s Option Agreement, in the event of the death of a Participant while the Participant
is an Employee, director or Consultant of the Company or of an Affiliate, such Option may be exercised by the Participant’s Survivors to the extent that the Option has become exercisable but has not been exercised on the date of death. If the
Participant’s Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date of death of such Participant, notwithstanding that the decedent might have been able to exercise the
Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an Employee, director or Consultant or, if earlier, within the originally prescribed term of the Option. 

18. EFFECT OF TERMINATION OF SERVICE ON STOCK GRANTS AND STOCK-BASED AWARDS. 

In the event of a termination of service (whether as an Employee, director or Consultant) with the Company or an Affiliate for any reason
before the Participant has accepted a Stock Grant or a Stock-Based Award and paid the purchase price, if required, such grant shall terminate. 
 For purposes of this Paragraph 18 and Paragraph 19 below, a Participant to whom a Stock Grant or a Stock-Based Award has been issued under the Plan who is absent from work with the Company or with an
Affiliate because of temporary disability (any disability other than a Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such
absence alone, to have terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. 

In addition, for purposes of this Paragraph 18 and Paragraph 19 below, any change of employment or other service within or among the
Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an Employee, director or Consultant of the Company or any Affiliate. 

19. EFFECT ON STOCK GRANTS AND STOCK_BASED AWARDS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE. 

Except as otherwise provided in a Participant’s Agreement, in the event of a termination of service for any reason (whether as an
Employee, director or Consultant), other than for Cause for which event there are special rules in Paragraph 20 below, before all forfeiture provisions or Company rights of repurchase shall have lapsed, then the Company shall have the right to
cancel or repurchase that number of Shares subject to a Stock Grant or Stock-Based Award as to which the Company’s forfeiture or repurchase rights have not lapsed. 
 With respect to a termination for a Disability, the Administrator shall make the determination both as to whether Disability has occurred and the date of its occurrence (unless a procedure for such
determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the
Administrator, the cost of which examination shall be paid for by the Company. 
 20. EFFECT ON STOCK GRANTS OR STOCK
BASED-AWARDS OF TERMINATION OF SERVICE FOR CAUSE. 
 Except as otherwise provided in a Participant’s Agreement, the
following rules apply if the Participant’s service (whether as an Employee, director or Consultant) with the Company or an Affiliate is terminated for Cause: 
 (a) All Shares subject to any Stock Grant or Stock Based-Award that remain subject to forfeiture provisions or as to which the Company shall have a repurchase right shall be immediately forfeited to the
Company as of the time the Participant is notified his or her service is terminated for Cause. 

  
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 (b) Cause is not limited to events which have occurred prior to a Participant’s
termination of service, nor is it necessary that the Administrator’s finding of Cause occur prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service, that either prior or subsequent to the
Participant’s termination the Participant engaged in conduct which would constitute Cause, then all Shares subject to any Stock Grant or Stock Based-Award that remained subject to forfeiture provisions or as to which the Company had a
repurchase right on the date of termination shall be immediately forfeited to the Company. 
 21. PURCHASE FOR
INVESTMENT. 
 Unless the offering and sale of the Shares shall have been effectively registered under the Securities Act,
the Company shall be under no obligation to issue Shares under the Plan unless and until the following conditions have been fulfilled: 
 (a) The person who receives a Stock Right shall warrant to the Company, prior to the receipt of Shares, that such person is acquiring such Shares for his or her own account, for investment, and not with a
view to, or for sale in connection with, the distribution of any such Shares, in which event the person acquiring such Shares shall be bound by the provisions of the following legend (or a legend in substantially similar form) which shall be
endorsed upon the certificate evidencing the Shares issued pursuant to such exercise or such grant: 
 “The shares
represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be
effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been
compliance with all applicable state securities laws.” 
 (b) At the discretion of the Administrator, the Company shall
have received an opinion of its counsel that the Shares may be issued in compliance with the Securities Act without registration thereunder. 
 22. DISSOLUTION OR LIQUIDATION OF THE COMPANY. 
 Upon the dissolution or
liquidation of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all Stock Grants and Stock-Based Awards which have not been accepted, to the extent required under the applicable Agreement, will
terminate and become null and void; provided, however, that if the rights of a Participant or a Participant’s Survivors have not otherwise terminated and expired, the Participant or the Participant’s Survivors will have the right
immediately prior to such dissolution or liquidation to exercise or accept any Stock Right to the extent that the Stock Right is exercisable or subject to acceptance as of the date immediately prior to such dissolution or liquidation. Upon the
dissolution or liquidation of the Company, any outstanding Stock-Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the applicable Agreement. 

23. ADJUSTMENTS. 
 Upon the occurrence of any of the following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall be adjusted as hereinafter provided, unless otherwise
specifically provided in a Participant’s Agreement: 
 (a) Stock Dividends and Stock Splits. If (i) the shares
of Common Stock shall be subdivided or combined into a greater or smaller number of shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, or (ii) additional shares or new or
different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock, each Stock Right and the number of shares of Common Stock deliverable thereunder shall be appropriately
increased or decreased proportionately, and appropriate adjustments shall be made including, in the exercise or 

  
 12 

 
purchase price per share, to reflect such events. The number of Shares subject to the limitations in Paragraph 3(a) and 4(c) shall also be proportionately adjusted upon the occurrence of such
events and the Performance Goals applicable to outstanding Performance-Based Awards. 
 (b) Corporate Transactions. If
the Company is to be consolidated with or acquired by another entity in a merger, consolidation, or sale of all or substantially all of the Company’s assets other than a transaction to merely change the state of incorporation (a “Corporate
Transaction”), the Administrator or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make appropriate provision for the
continuation of such Options by substituting on an equitable basis for the Shares then subject to such Options either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or
securities of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that such Options must be exercised (either (A) to the extent then exercisable or, (B) at the discretion of the Administrator,
any such Options being made partially or fully exercisable for purposes of this Subparagraph), within a specified number of days of the date of such notice, at the end of which period such Options which have not been exercised shall terminate; or
(iii) terminate such Options in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the number of shares of Common Stock into which such Option would have been
exercisable (either (A) to the extent then exercisable or, (B) at the discretion of the Administrator, any such Options being made partially or fully exercisable for purposes of this Subparagraph) less the aggregate exercise price
thereof. For purposes of determining the payments to be made pursuant to Subclause (iii) above, in the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash, the consideration other than cash shall
be valued at the fair value thereof as determined in good faith by the Board of Directors. 
 With respect to outstanding Stock
Grants, the Administrator or the Successor Board, shall make appropriate provision for the continuation of such Stock Grants on the same terms and conditions by substituting on an equitable basis for the Shares then subject to such Stock Grants
either the consideration payable with respect to the outstanding Shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any Corporate
Transaction, the Administrator may provide that, upon consummation of the Corporate Transaction, each outstanding Stock Grant shall be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of such
Corporate Transaction to a holder of the number of shares of Common Stock comprising such Stock Grant (to the extent such Stock Grant is no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the
Administrator, all forfeiture and repurchase rights being waived upon such Corporate Transaction). 
 In taking any of the
actions permitted under this Paragraph 23(b), the Administrator shall not be obligated by the Plan to treat all Stock Rights, all Stock Rights held by a Participant, or all Stock Rights of the same type, identically. 

(c) Recapitalization or Reorganization. In the event of a recapitalization or reorganization of the Company other than a Corporate
Transaction pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, a Participant upon exercising an Option or accepting a Stock Grant after the recapitalization or
reorganization shall be entitled to receive for the price paid upon such exercise or acceptance if any, the number of replacement securities which would have been received if such Option had been exercised or Stock Grant accepted prior to such
recapitalization or reorganization. 
 (d) Adjustments to Stock-Based Awards. Upon the happening of any of the events
described in Subparagraphs (a), (b) or (c) above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs. The Administrator or the Successor Board shall determine the
specific adjustments to be made under this Paragraph 23, including, but not limited to the effect of any, Corporate Transaction and, subject to Paragraph 4, its determination shall be conclusive. 

  
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 (e) Modification of Options. Notwithstanding the foregoing, any adjustments made
pursuant to Subparagraph (a), (b) or (c) above with respect to Options shall be made only after the Administrator determines whether such adjustments would (i) constitute a “modification” of any ISOs (as that term is defined
in Section 424(h) of the Code) or (ii) cause any adverse tax consequences for the holders of Options, including, but not limited to, pursuant to Section 409A of the Code. If the Administrator determines that such adjustments made with
respect to Options would constitute a modification or other adverse tax consequence, it may refrain from making such adjustments, unless the holder of an Option specifically agrees in writing that such adjustment be made and such writing indicates
that the holder has full knowledge of the consequences of such “modification” on his or her income tax treatment with respect to the Option. This paragraph shall not apply to the acceleration of the vesting of any ISO that would cause any
portion of the ISO to violate the annual vesting limitation contained in Section 422(d) of the Code, as described in Paragraph 6(b)(iv). 
 (f) Modification of Performance-Based Awards. Notwithstanding the foregoing, with respect to any Performance-Based Award that is intended to comply as “performance based compensation”
under Section 162(m) of the Code, the Committee may adjust downwards, but not upwards, the number of Shares payable pursuant to a Performance-Based Award, and the Committee may not waive the achievement of the applicable Performance Goals
except in the case of death or disability of the Participant. 
 24. ISSUANCES OF SECURITIES. 

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 shares subject to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends paid in cash
or in property (including without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right. 
 25. FRACTIONAL SHARES. 
 No fractional shares shall be issued under the
Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional shares equal to the Fair Market Value thereof. 
 26. CONVERSION OF ISOs INTO NON-QUALIFIED OPTIONS; TERMINATION OF ISOs. 
 The Administrator, at the written request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s ISOs (or any portions thereof) that have not
been exercised on the date of conversion into Non-Qualified Options at any time prior to the expiration of such ISOs, regardless of whether the Participant is an Employee of the Company or an Affiliate at the
time of such conversion. At the time of such conversion, the Administrator (with the consent of the Participant) may impose such conditions on the exercise of the resulting Non-Qualified Options as the
Administrator in its discretion may determine, provided that such conditions shall not be inconsistent with this Plan. Nothing in the Plan shall be deemed to give any Participant the right to have such Participant’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until and unless the Administrator takes appropriate action. The Administrator, with the consent of the Participant, may also terminate any portion of any
ISO that has not been exercised at the time of such conversion. 
 27. WITHHOLDING. 

In the event that any federal, state, or local income taxes, employment taxes, Federal Insurance Contributions Act (“F.I.C.A.”)
withholdings or other amounts are required by applicable law or governmental regulation to be withheld from the Participant’s salary, wages or other remuneration in connection with the issuance of a Stock Right or Shares under the Plan or for
any other reason required by law, the Company may withhold from the Participant’s compensation, if any, or may require that the Participant advance in cash to the Company, or to any Affiliate of the Company which employs or employed the
Participant, the statutory 

  
 14 

 
minimum amount of such withholdings unless a different withholding arrangement, including the use of shares of the Company’s Common Stock or a promissory note, is authorized by the
Administrator (and permitted by law). For purposes hereof, the fair market value of the shares withheld for purposes of payroll withholding shall be determined in the manner set forth under the definition of Fair Market Value provided in Paragraph 1
above, as of the most recent practicable date prior to the date of exercise. If the Fair Market Value of the shares withheld is less than the amount of payroll withholdings required, the Participant may be required to advance the difference in cash
to the Company or the Affiliate employer. The Administrator in its discretion may condition the exercise of an Option for less than the then Fair Market Value on the Participant’s payment of such additional withholding. 

28. NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 
 Each Employee who receives an ISO must agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any Shares acquired pursuant to the exercise of an ISO. A
Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale or gift) of such Shares before the later of (a) two years after the date the Employee was granted the ISO, or (b) one
year after the date the Employee acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such Shares are sold, these holding period requirements do not apply and no
Disqualifying Disposition can occur thereafter. 
 29. TERMINATION OF THE PLAN. 

The Plan will terminate on June 4, 2024, the date which is ten years from the earlier of the date of its adoption by the
Board of Directors and the date of its approval by the shareholders of the Company. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the Company; provided, however, that any such earlier
termination shall not affect any Agreements executed prior to the effective date of such termination. Termination of the Plan shall not affect any Stock Rights theretofore granted. 

30. AMENDMENT OF THE PLAN AND AGREEMENTS. 
 The Plan may be amended by the shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation, to the extent necessary to qualify any or all outstanding
Stock Rights granted under the Plan or Stock Rights to be granted under the Plan for favorable federal income tax treatment as may be afforded incentive stock options under Section 422 of the Code (including deferral of taxation upon exercise),
and to the extent necessary to qualify the Shares issuable under the Plan for listing on any national securities exchange or quotation in any national automated quotation system of securities dealers and in order to continue to comply with
Section 162(m) of the Code; provided that any amendment approved by the Administrator which the Administrator determines is of a scope that requires shareholder approval shall be subject to obtaining such shareholder approval. Other than as set
forth in Paragraph 23 of the Plan, the exercise price of an Option may not be reduced without stockholder approval. 
 Any
modification or amendment of the Plan shall not, without the consent of a Participant, adversely affect his or her rights under a Stock Right previously granted to him or her. With the consent of the Participant affected, the Administrator may amend
outstanding Agreements in a manner which may be adverse to the Participant but which is not inconsistent with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which is not
adverse to the Participant. Nothing in this Paragraph 30 shall limit the Administrator’s authority to take any action permitted pursuant to Paragraph 23. 

  
 15 

 31. EMPLOYMENT OR OTHER RELATIONSHIP. 

Nothing in this Plan or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy
or director status of a Participant, nor to prevent a Participant from terminating his or her own employment, consultancy or director status or to give any Participant a right to be retained in employment or other service by the Company or any
Affiliate for any period of time. 
 32. GOVERNING LAW. 

This Plan shall be construed and enforced in accordance with the law of the State of Delaware. 

  
 16EX-10.36

 Exhibit 10.36 

AMENDMENT TO 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Amendment (this “Amendment”) to Executive Employment Agreement is made effective as of June 6,
2014. This Amendment amends the Executive Employment Agreement, dated as of January 6, 2013, by and between Ambrx, Inc., a Delaware corporation (the “Company”), and Lawson Macartney (“Executive”) (the
“Agreement”). 
 The Agreement is hereby amended as follows: 

 

	 	1.	 Sections 4.4(a)(ii), (iii) and (iv) of the Agreement are hereby amended and restated to read in their entirety as follows:

 “(ii)     Performance-Based Vesting Option. The Company has granted to
Executive 1,244,690 options to purchase the Company’s common stock (the “Performance Based Option”) which represents ownership of one and a half percent (1.50%) of the total equity of the Company on a fully diluted basis as of
the Employment Commencement Date and which vests and becomes exercisable pursuant to the terms and conditions of that Notice of Grant of Stock Option and Stock Option Agreement identified by Grant Number A0552 with a grant date of February 5,
2013 (the “Performance Based Option Agreement”). The Executive and the Company agree that notwithstanding anything contained in the Performance Based Option Agreement to the contrary, that the Performance Based Option shall terminate and
Executive will have no further rights to exercise the Performance Based Option effective at 5:00 pm Pacific time on the day immediately prior to the date that the Company’s common stock is first traded on a national securities exchange (the
“Trading Date”) pursuant to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities Act of 1933, as amended (an “IPO”). 

(iii)     Initial Public Offering Option. Subject to Executive’s continued employment through
the date of grant and Executive having not then exercised any portion of the Performance Based Option, effective at 5:01 pm Pacific time on the day immediately prior to the Trading Date, the Executive shall be granted a stock option (the
“IPO Option”), with an exercise price equal to the price that the shares of the Company’s common stock are first offered to the public in the IPO, to purchase 1,244,690 shares of the Company’s common stock (equal to one
and one half percent (1.50%) of the total equity of the Company on a fully diluted basis as of the Employment Commencement Date), as such amount may be adjusted to reflect any stock split, reverse stock split, stock dividend, recapitalization,
combination or exchange of shares, merger, consolidation or other Equity Restructuring (as defined in the Ambrx, Inc. 2013 Equity Incentive Plan) effected by the Company after May 23, 2014. The IPO Option shall vest as follows (X) 25% of
the shares subject to the IPO Option shall vest on the first year anniversary of the grant date, subject to Executive’s continued employment or service with the Company through such vesting date, and (Y) 75% of the shares subject to the
IPO Option shall vest in twelve (12) equal monthly installments on the last day of each calendar month during the twelve-month period commencing on the first year anniversary of the grant date, subject to Executive’s continued employment
or service with the Company through each applicable vesting date. The IPO option shall expire and shall not be exercisable if the IPO fails to close. 

(iv)     The Service-Based Vesting Option, the Performance-Based Vesting Option and the IPO Option
(collectively, the “Options”) shall be granted pursuant to the Ambrx, Inc. 2003 Stock Option Plan, or the Ambrx, Inc. 2013 Equity Incentive Plan (the “Incentive Plan”) and except as otherwise provided above shall
have an exercise price per share equal to the then-

 
current fair market value per share of the Company’s common stock (as determined pursuant to the Incentive Plan) on the date of the grant of the Options. The Options shall be incentive stock
options to the extent permitted under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Except as otherwise provided in this Agreement or the Stock Option Agreements pursuant to which the Options are
granted, the Options shall have a ten (10) year term and shall be subject to the terms and conditions of the Incentive Plan, as in effect from time to time. The total equity of the Company on a fully diluted basis as of the Employment
Commencement Date is set forth on Schedule 1 hereto.” 
  

	 	2.	 Section 4.4(b) of the Agreement is hereby amended and restated to read in its entirety as follows, with such amendment and restatement to be
effective upon the Trading Date: 

 “(b)(i) If Executive’s employment with the Company is
terminated (x) by the Company without Cause or (y) by Executive due to, without Executive’s consent, (1) a material diminution in Executive’s authority or responsibilities (including a material adverse change in Executive s
reporting line) or (2) a material change in the geographic location at which Executive must perform his duties other than reasonably required travel on the Company’s business (for purposes of this provision, a “material change”
shall not include a relocation of the Company’s headquarters to a location within fifty (50) miles of Philadelphia, Pennsylvania), in each case, within three (3) months prior to or twelve (12) months following a Change in
Control, the vesting and exercisability of one hundred percent (100%) of Executive’s outstanding unvested Stock Awards, other than the Performance-Based Vesting Options and IPO Option, shall be automatically accelerated on the later of
(A) the date of termination of employment or (B) the date of the Change in Control, In addition, Executive’s Stock Awards, other than the Performance-Based Vesting Options and IPO Option, may be exercised by Executive (or
Executive’s guardian or legal representative) until the latest of (X) six (6) months after the date of termination of employment, (Y) with respect to any portion of the Stock Awards that become exercisable on the date of a Change
in Control pursuant to this Section 4.4(b)(i), six (6) months after the date of the Change in Control, or (Z) such longer period as may be specified in the applicable Stock Award agreement; provided, however, that in no event
shall any Stock Award remain exercisable beyond the original expiration date of such Stock Award. 

(ii)     If Executive’s employment with the Company is terminated due to death or Disability, in
either ease, the vesting and exercisability of twenty-five percent (25%) of Executive s outstanding unvested Stock Awards, other than the Performance-Based Vesting Options and IPO Option, shall be automatically accelerated on the date of
termination of employment. 
 (iii)     If Executive’s employment with the Company is terminated
(x) by the Company without Cause or (y) by Executive due to, without Executive’s consent, (1) a material diminution in Executive’s authority or responsibilities (including a material adverse change in Executive s reporting
line) or (2) a material change in the geographic location at which Executive must perform his duties other than reasonably required travel on the Company’s business (for purposes of this provision, a “material change” shall not
include a relocation of the Company’s headquarters to a location within fifty (50) miles of Philadelphia, Pennsylvania), the vesting and exercisability of one hundred percent (100%) of Executive’s outstanding unvested Stock
Awards, other than the Performance-Based Vesting Options and IPO Option, shall be automatically accelerated on the date of termination of employment. In addition, Executive’s Stock Awards, other than the Performance-Based Vesting Options and
IPO Option, may be exercised by Executive (or Executive’s guardian or legal representative) until the latest of (X) six (6) months after the date of termination of employment, or (Y) such longer period as may be specified in the
applicable Stock Award agreement; provided, however, that in no event shall any Stock Award remain exercisable beyond the original expiration date of such Stock Award. 

  
 2 

 (iv)     The vesting pursuant to clauses (i) through
(iii) of this Section 4.4(b) shall be cumulative. The foregoing provisions are hereby deemed to be a part of each Stock Award and to supersede any less favorable provision in any agreement or plan regarding such Stock Award.” 

 

	 	3.	 Section 7(a) of the Agreement is hereby amended and restated to read in its entirety as follows, with such amendment and restatement to be
effective upon the Trading Date: 

 “(a)(i)      Certain Qualifying Terminations
of Employment. If Executive’s Separation from Service occurs by reason of the termination of Executive’s employment (A) by the Company without Cause or (B) by Executive due to, without Executive’s consent, (1) a
material diminution in Executive’s authority or responsibilities (including a material adverse change in Executive’s reporting line) or (2) a material change in the geographic location at which Executive must perform his duties other
than reasonably required travel on the Company’s business (for purposes of this provision, a “material change” shall not include a relocation of the Company’s headquarters to a location within fifty (50) miles of
Philadelphia, Pennsylvania), in each case, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of Company, the benefits provided below: 

(w)     The Company shall pay to Executive his fully earned but unpaid Base Salary, when due, through the
date of Separation from Service at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of Separation from Service; 

(x)     Subject to Executive’s continued compliance with Sections 8, 9 and 10, Executive shall be
entitled to receive a total severance benefit in cash in an amount equal to: (A) twelve (12), multiplied by (B) Executive’s monthly Base Salary as in effect immediately prior to the date of Separation from Service. Such severance
benefit shall be payable in twelve (12) equal monthly installments on the first day of each calendar month, commencing on the first day of the calendar month on or next following the sixtieth
(60th) day after the date of Executive’s Separation from Service; 

(y)     Subject to Executive’s continued compliance with Sections 8, 9 and 10, for the period
beginning on the date of Executive’s Separation from Service and ending on the date which is twelve (12) full months following the date of Executive’s Separation from Service (or, if earlier, the date on which the applicable
continuation period expires), the Company shall provide Executive and his eligible dependents who were covered under the Company’s health plans as of the date of Executive’s Separation from Service with continuation coverage under COBRA
for a monthly premium equal to the monthly premium Executive would have been required to pay for health coverage for Executive and his eligible dependents who were covered by the Company’s health plans if Executive were an active employee
(provided that Executive shall be solely responsible for all matters relating to his continuation of coverage pursuant to COBRA, including, without limitation, his election of such overage and his timely payment of premiums). Such continuation
coverage shall be provided through insurance in accordance with the exemption under Treasury Regulation Section 1.409A-1(a)(5). For the avoidance of doubt, the Company shall not be required to pay any tax gross-up payment with respect to such
benefit; and 

  
 3 

 (z)     In the event Executive accepts employment with an employer other than
the Company during the period commencing on the ninetieth (90th) day following his Separation from Service and throughout the remainder of the severance payment period described in Sections
7(a)(i)(x) and (y) (which acceptance may be evidenced upon the earlier of executing a written employment agreement or commencing such employment), the Company’s obligation to pay severance benefits under Sections 7(a)(i)(x) and
(y) shall immediately cease upon such acceptance of other employment, and Executive shall be obligated to inform the Company of any such acceptance within five (5) business days of such acceptance. 

(ii)     Certain Qualifying Terminations of Employment in Connection with a Change in Control. If
Executive’s Separation from Service occurs by reason of the termination of Executive’s employment (A) by the Company without Cause or (B) by Executive due to, without Executive’s consent, (1) a material diminution in
Executive’s authority or responsibilities (including a material adverse change in Executive’s reporting line) or (2) a material change in the geographic location at which Executive must perform his duties other than reasonably
required travel on the Company’s business (for purposes of this provision, a “material change” shall not include a relocation of the Company’s headquarters to a location within fifty (50) miles of Philadelphia, Pennsylvania)
within three (3) months prior to or twelve (12) months following a Change in Control, in each case, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance
plan or program of Company, the benefits provided below: 
 (w)     The Company shall pay to Executive
his fully earned but unpaid Base Salary, when due, through the date of Separation from Service at the rate then in effect, plus all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of
Separation from Service; 
 (x)     Subject to Executive’s continued compliance with Sections 8, 9
and 10, Executive shall be entitled to receive a total severance benefit in cash in an amount equal to: (A) fifteen (15), multiplied by (B) Executive’s monthly Base Salary as in effect immediately prior to the date of Separation from
Service. Such severance benefit shall be paid in a lump sum payment on the sixtieth (60th) day following the date of Executive’s Separation from Service; 

(y)     Subject to Executive’s continued compliance with Sections 8, 9 and 10, Executive shall be
entitled to receive Executive’s Target Bonus in an amount equal to: (A) fifteen (15), multiplied by (B) the quotient of Executive’s Target Bonus divided by twelve, for the year in which the Separation of Service occurs, paid in a
lump sum payment on the sixtieth (60th) day following the date of Executive’s Separation from Service; and 

(z)     Subject to Executive’s continued compliance with Sections 8, 9 and 10, Executive shall be
entitled to receive a payment equal to: (x) fifteen (15), multiplied by (y) the monthly premium Executive would have been required to pay for continuation coverage pursuant to COBRA for Executive and his eligible dependents who were
covered by the Company’s health plans as of the date of Executive’s Separation of Service (calculated by reference to the premium as of the date of termination) (provided that Executive shall be solely responsible for all matters relating
to his continuation of coverage pursuant to COBRA, including, without limitation, his election of such 

  
 4 

 
coverage and his timely payment of premiums). Such payment shall be paid in a lump sum payment on the sixtieth (60th) day following the
date of Executive’s Separation from Service. For the avoidance of doubt, the Company shall not be required to pay any tax gross-up payment with respect to such lump sum cash payment.” 

 

	 	4.	 The Agreement, as amended herein, shall remain in full force and effect. 

  
 5 

 THE PARTIES TO THIS AMENDMENT HAVE READ THE FOREGOING AMENDMENT AND FULLY
UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AMENDMENT ON THE DATES SHOWN BELOW. 
  

									
		 		 		 	LAWSON MACARTNEY
				
	 Dated:
	 	 June 6, 2014
	 		 	 /s/ Lawson Macartney

		 		 		 	Address:	 	 135 Bertolet School Road

		 		 		 		 	 Spring City, PA 19475

				
		 		 		 	AMBRX, INC.
					
	 Dated:
	 	 June 6, 2014
	 		 	By:	 	 /s/ John Diekman

		 		 		 	Name:	 	 John Diekman

		 		 		 	Title:	 	 Chairman of Board

  
 6

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