Document:

EX-10.3

 Exhibit 10.3 

Restricted Stock Agreement 

(Performance Vesting) 

THIS RESTRICTED STOCK AGREEMENT (the “Agreement”) is entered into, effective as of this      day of
            , 20     (the “Grant Date”), between American Superconductor Corporation, a Delaware corporation (the “Company”), and
                    (the “Employee”). 

For valuable consideration, receipt of which is acknowledged, the parties hereto agree as follows: 

 

	1.	 Issuance of Shares. 

Effective as of the Grant Date, the Company shall issue to the Employee, subject to the terms and conditions set forth in this Agreement and in
the Company’s 2022 Stock Incentive Plan (the “Plan”),                  shares (the “Shares”) of Common Stock. The Shares shall be
issued to the Employee in consideration of employment services rendered by the Employee to the Company. As promptly as reasonably practicable following the Grant Date, the Company shall either issue one or more certificates in the name of the
Employee for the Shares or make book entries evidencing the Shares. The Employee agrees that the Shares shall be subject to the forfeiture provisions set forth in Section 3 of this Agreement and the restrictions on transfer set forth in
Section 4 of this Agreement. 
  

	2.	 Vesting. 

(a)    Subject to the terms and conditions of this Agreement, the Shares shall vest as set forth on Exhibit A hereto
upon the achievement of the Performance Measures (as defined in Exhibit A) during the Performance Period (as defined in Exhibit A). In addition, the vesting of the Shares is conditioned upon the Employee’s continuous employment by
the Company from the Grant Date through the determination of attainment of the applicable Performance Measures. The determination as to whether the Performance Measures have been attained shall be determined by the Board during or following the end
of the Performance Period as set forth on Exhibit A. Unless otherwise determined by the Board, no Shares will vest if the Performance Measures are not met as of determination by the Board following the end of the Performance Period. 

(b)    Notwithstanding the foregoing, in the event of a Change in Control (as defined below) of the Company, and provided
that the Employee remains continuously employed by the Company until the effective date of such Change in Control, all unvested Shares granted under this Agreement that remain outstanding shall become immediately vested on the effective date of the
Change in Control. 
 (c)    For purposes of the Agreement, a “Change in Control” shall be deemed to have
occurred upon the first to occur of the following events: (i) any “person”, as such term is used in Section 13(d) and 14(d) of the Exchange Act (other than the Company, any trustee or other fiduciary holding securities under an
employee benefit plan of the Company, or any corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company), is or becomes the “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company 

 
representing 50% or more of the combined voting power of the Company’s then outstanding securities; (ii) during any period of two consecutive years ending during the term of this
Agreement, individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect any transaction described in clause (i),
(iii) or (iv) of this Section 2(c)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still
in office who were either directors at the beginning of the period or whose election or whose nomination for election was previously so approved, cease for any reason to constitute a majority of the Board; (iii) the consummation of a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or
(iv) the stockholders of the Company approve a plan of complete liquidation of the Company or there occurs the sale or disposition by the Company of all or substantially all of the Company’s assets. The Board shall have full and final
authority, which shall be exercised in its sole discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating
thereto. 
  

	3.	 Forfeiture of Unvested Shares Upon Employment Termination and Other Events.

 Unless otherwise determined by the Board, in the event that either (a) the Employee ceases to be employed by
the Company for any reason or no reason, with or without cause, or (b) Shares remain unvested as of (i) the Board’s determination of the level of achievement of the Performance Measures following the end of the Performance Period
(and, for the avoidance of doubt, immediately following any vesting based on such determination) or (ii) the Board’s determination in good faith during or following the Performance Period that the vesting conditions set forth on
Exhibit A can no longer be attained, all of the Shares that are unvested as of such time shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Employee, effective as of such
termination of employment or such determination, as the case may be. The Employee shall have no further rights with respect to any Shares that are so forfeited. For purposes of the Agreement, employment with the Company shall include employment with
a parent or subsidiary of the Company, but shall be deemed to be terminated in the event that the subsidiary of the Company employing the Employee ceases to remain a subsidiary of the Company following any merger, sale of stock or other corporate
transaction or event (including, without limitation, a spin-off). The Board, in its sole discretion, shall determine all matters and questions relating to any employment termination, including, without
limitation, whether such a termination has occurred and whether particular leaves of absence constitute such a termination. 
  

	4.	 Restrictions on Transfer. 

The Employee shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise (collectively
“transfer”) any unvested Shares, or any interest therein, except that the Employee may transfer unvested Shares (i) to or for the benefit of any 

  
 2 

 
spouse, child or grandchild of the Employee, or to a trust for their benefit, provided that such Shares shall remain subject to this Agreement (including without limitation the forfeiture
provisions set forth in Section 3 and the restrictions on transfer set forth in this Section 4) and such permitted transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such
transferee shall be bound by all of the terms and conditions of this Agreement or (ii) as otherwise determined by the Board. 
  

	5.	 Escrow; Stock Power. 

The Employee shall, upon request by the Company following execution of this Agreement, execute joint escrow instructions or similar agreement
and such agreement shall be delivered to the Chief Financial Officer of the Company or his or her designee (which may, but need not be, the Company or a representative thereof), as escrow agent thereunder. The Employee shall, upon such request,
deliver to such escrow agent a stock assignment or power, duly endorsed in blank, in the form determined by the Company, and hereby instructs the Company to deliver to such escrow agent, on behalf of the Employee, any certificates(s) evidencing the
Shares issued hereunder. Such materials shall be held by such escrow agent pursuant to the terms of such joint escrow instructions or similar arrangement. 
  

	6.	 Restrictive Legends. 

All certificates representing Shares, if any, shall have affixed thereto a legend in substantially the following form, in addition to any other
legends that may be required under federal or state securities law or as otherwise determined appropriate by the Board: 
 “The shares
of stock represented by this certificate are subject to forfeiture provisions and restrictions on transfer set forth in a certain Restricted Stock Agreement between the corporation and the registered owner of these shares (or his predecessor in
interest), and such Agreement is available for inspection without charge at the office of the Secretary of the corporation.” 
  

	7.	 Withholding Taxes; Section 83(b) Election. 

[Alternative 1] 
 (a)     The
Employee shall timely pay to the Company in cash (or have a broker tender in cash) the amount of any federal, state or local taxes of any kind required by law to be withheld by the Company in connection with the issuance or vesting of the Shares.
The Employee acknowledges and agrees that, to the maximum extent permitted by law, the Company has the right to deduct from payments of any kind otherwise due to the Employee the amount of any such taxes. 

[Alternative 2] 
 (a)     The
Employee shall timely either (i) pay to the Company in cash (or have a broker tender in cash), or (ii) deliver or surrender shares of Common Stock, including Shares creating the withholding tax obligations, valued at their Fair Market
Value, in the amount of any federal, state or local taxes of any kind required by law to be withheld by the Company in connection with the 

  
 3 

 
issuance or vesting of the Shares in accordance with the Plan[; provided that, for purposes of this Agreement, Employee shall be entitled to deliver or surrender shares of Common Stock to
satisfy the withholding tax obligations based on the maximum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income)]. The Employee acknowledges and agrees
that, to the maximum extent permitted by law, the Company has the right to deduct from payments of any kind otherwise due to the Employee the amount of any such taxes. Shares of Common Stock and/or Shares surrendered to satisfy tax withholding
requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements. 
 (b)
    The Employee has had an opportunity to obtain the advice of the Employee’s own tax advisors prior to executing this Agreement and fully understands and agrees to the provisions hereof. The Employee acknowledges that he
has been informed of the availability of making an election in accordance with Section 83(b) of the Code (an “83(b) Election”); that such an 83(b) Election must be filed with the Internal Revenue Service (the
“IRS”) within 30 days of the issuance of the Shares to the Employee; and that the Employee is solely responsible for evaluating the tax implications to the Employee or his or her acquisition of the Shares under this Agreement and
for making such election if he or she so chooses. If the Employee makes an 83(b) Election, the Employee shall be required to deliver a copy of such election to the Company promptly after filing such election with the IRS along with proof of the
timely filing thereof with the IRS. 
  

	8.	 Clawback. 

The Shares issued hereunder (including any proceeds, gains or other economic benefit actually or constructively received by the Employee upon
the receipt and/or resale of such Shares shall be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements of applicable law, including,
without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, whether or not such claw-back policy was in place at the time of grant of such Shares. 

 

	9.	 Miscellaneous. 

(a)    No Rights to Employment. Nothing contained in this Agreement shall be construed as giving the Employee any
right to be retained, in any position, as an employee of the Company. The Employee further acknowledges and agrees that the transactions contemplated hereunder and the vesting provisions set forth herein do not constitute an express or implied
process of continued engagement as an employee until the Shares vest, for any period of time, or at all. 

(b)    Data Privacy. As a condition of receipt of the Shares, the Employee explicitly and unambiguously consents to
the collection, use and transfer, in electronic or other form, of personal data as described in this Section 9(b) by and among, as applicable, the Company and its subsidiaries for the exclusive purpose of implementing, administering and
managing the Employee’s participation in the Plan. The Company and its subsidiaries may hold certain personal information about the Employee, including but not limited to, the Employee’s name, home address, telephone number, date of birth,
social security or insurance number or other identification number, salary, nationality, job title(s), any shares of Common Stock held in the Company or any 

  
 4 

 
of its subsidiaries, and details of all awards held by the Employee, in each case, for the purpose of implementing, managing and administering the Plan and awards held by the Employee (the
“Data”). The Company and its subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Employee’s participation in the Plan, and the Company and its
subsidiaries may each further transfer the Data to any third parties assisting the Company and its subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Employee’s country, or
elsewhere, and the Employee’s country may have different data privacy laws and protections than the recipients’ country. Through acceptance of the Shares, the Employee authorizes such recipients to receive, possess, use, retain and
transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Employee’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third
party with whom the Company or any of its subsidiaries or the Employee may elect to deposit the Shares. The Data related to the Employee will be held only as long as is necessary to implement, administer, and manage the Employee’s participation
in the Plan. The Employee may, at any time, view the Data held by the Company with respect to him or her, request additional information about the storage and processing of the Data with respect to him or her, recommend any necessary corrections to
the Data with respect to him or her or refuse or withdraw the consents herein in writing, in any case without cost, by contacting his or her local human resources representative. The Company may cancel the Employee’s ability to participate in
the Plan and, in the Board’s discretion, the Employee may forfeit any outstanding awards under the Plan if the Employee refuses or withdraws his or her consents as described herein. For more information on the consequences of refusal to consent
or withdrawal of consent, the Employee may contact his or her local human resources representative. 

(c)    Provisions of the Plan. This Agreement is subject to the provisions of the Plan, a copy of which has been
furnished to the Employee. Capitalized terms not defined herein shall have the meanings set forth in the Plan. 

(d)    Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

(e)    Waiver. Any provision for the benefit of the Company contained in this Agreement may be waived, either
generally or in any particular instance, by the Board. 
 (f)    Binding Effect. This Agreement shall be binding
upon and inure to the benefit of the Company and the Employee and their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in Section 4 of this
Agreement. 
 (g)    Notice. All notices required or permitted hereunder shall be in writing and deemed
effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party hereto at the address shown beneath his or its respective signature
to this Agreement, or at such other address or addresses as either party shall designate to the other in accordance with this Section 9(g). 

  
 5 

 (h)    Interpretation. Whenever the context may require, any
pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, vice versa. All references in this Agreement and Exhibit A hereto to the
“Board” shall mean the Board or a Committee or the officers referred to in Section 3(c) of the Plan to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee or officers. 

(i)    Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties, and
supersede all prior agreements and understandings, relating to the subject matter of this Agreement. 

(j)    Amendment. This Agreement may be amended or modified by the Company in its discretion; provided that
the Employee’s consent to such action shall be required unless (i) the Board determines that the action, taking into account any related action, would not materially and adversely affect the Employee’s rights under this Agreement or
(ii) the change is permitted under Section 9, 10 or 11(f) of the Plan. 
 (k)    Governing Law. This
Agreement shall be construed, interpreted and enforced in accordance with the internal laws of the State of Delaware without regard to any applicable conflicts of law. 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Grant Date.

  

			
	AMERICAN SUPERCONDUCTOR CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Address:	 	114 East Main Street
		 	Ayer, MA 01432
	
	[Name of Employee]
		
	Address:EX-10.4

 Exhibit 10.4 

 

AMERICAN SUPERCONDUCTOR CORPORATION 

2022 STOCK INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE 

Capitalized terms not specifically defined in this Stock Option Grant Notice (the “Grant Notice”) have the meanings
given to them in the 2022 Stock Incentive Plan (as amended from time to time, the “Plan”) of American Superconductor Corporation (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the stock option described in this Grant
Notice (the “Option”), subject to the terms and conditions of the Plan and the Stock Option Agreement attached as Exhibit A (the “Agreement”), both of which are incorporated into this Grant
Notice by reference. 
  

			
	Participant:	  	
		
	Grant Date:	  	
		
	Exercise Price per Share:	  	
		
	Shares Subject to the Option:	  	
		
	Final Expiration Date:	  	
		
	Vesting Commencement Date:        	  	
		
	Vesting Schedule:	  	[To be specified in individual award agreements]
		
	Type of Option	  	[Incentive Stock Option/Nonstatutory Stock Option]

 By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the
Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the
Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan, this Grant Notice or the Agreement. 

 

									
	AMERICAN SUPERCONDUCTOR CORP.	 		 		 	PARTICIPANT
					
	By:	 	  
	 		 		 	  

	Name:	 	  
	 		 		 	[Participant Name]
	Title:	 	  
	 		 		 	

 Exhibit A 

STOCK OPTION AGREEMENT 

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant
Notice, in the Plan. 
 ARTICLE I. 

GENERAL 

1.1    Grant of Option. The Company has granted to Participant the Option effective as of the grant date set forth
in the Grant Notice (the “Grant Date”). 
 1.2    Incorporation of Terms of Plan. The
Option is subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control. 

ARTICLE II. 
 PERIOD OF
EXERCISABILITY 
 2.1    Commencement of Exercisability. The Option will vest and become exercisable
according to the vesting schedule in the Grant Notice (the “Vesting Schedule”) except that any fraction of a share of Common Stock (a “Share”) as to which the Option would be vested or exercisable will
be accumulated and will vest and become exercisable only when a whole Share has accumulated. Notwithstanding anything in the Grant Notice, the Plan or this Agreement to the contrary, unless the Board otherwise determines, the Option will immediately
expire and be forfeited as to any portion that is not vested and exercisable as of date Participant ceases to be employed by the Company for any reason (“Termination of Employment”). For purposes of the Agreement, employment
with the Company shall include employment with a parent or subsidiary of the Company, but shall be deemed to be terminated in the event that the subsidiary of the Company employing the Participant ceases to remain a subsidiary of the Company
following any merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off). The Board, in its sole discretion, shall determine all matters and questions relating to
any employment termination, including, without limitation, whether such a termination has occurred and whether particular leaves of absence constitute such a termination. 

2.2    Duration of Exercisability. The Vesting Schedule is cumulative. Any portion of the Option which vests and
becomes exercisable will remain vested and exercisable until the Option expires. The Option will be forfeited immediately upon its expiration. 

2.3    Expiration of Option. The Option may not be exercised to any extent by anyone after, and will expire on, the
first of the following to occur: 
 (a)    The final expiration date in the Grant Notice; 

(b)    Except as the Board may otherwise approve, the expiration of sixty (60) days from the date of
Participant’s Termination of Employment, unless Participant’s Termination of Employment is for Cause (as defined below) or by reason of Participant’s death or Disability (as defined below); 

(c)    Except as the Board may otherwise approve, the expiration of one hundred eighty (180) days from the date of
Participant’s Termination of Employment by reason of Participant’s death or Disability; and 

 (d)    Except as the Board may otherwise approve, Participant’s
Termination of Employment for Cause or the date Participant violates the non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement
between the Participant and the Company. 
 2.4    Definitions. For purposes of this Agreement, the following
terms shall have the following meanings: 
 (a)    “Cause” means, (i) if the Participant is
party to a written employment or severance agreement with the Company in which the term “cause” is defined (a “Relevant Agreement”), “Cause” as defined in the Relevant Agreement, and (ii) if no
Relevant Agreement exists, willful misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any
employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be conclusive. The
Participant shall be considered to have been discharged for “Cause” if the Company determines, within 30 days after the Participant’s resignation, that discharge for Cause was warranted. 

(b)    “Disability” means a permanent and total disability under Section 22(e)(3) of the
Code, as amended. 
 ARTICLE III. 

EXERCISE OF OPTION 

3.1    Non-Transferability; Person Eligible to Exercise. The Option may not
be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution. During Participant’s lifetime, only Participant may exercise
the Option. After Participant’s death, any exercisable portion of the Option may, prior to the time the Option expires, be exercised by Participant’s Designated Beneficiary as provided in the Plan. 

3.2    Partial Exercise. Any exercisable portion of the Option or the entire Option, if then wholly exercisable,
may be exercised, in whole or in part, according to the procedures in the Plan at any time prior to the time the Option or portion thereof expires, except that the Option may only be exercised for whole Shares and for no fewer than ten Shares. 

3.3    Tax Withholding. 

(a)    The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely
payment in accordance with the Plan of any withholding tax arising in connection with the Option as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the
Option. 
 (b)    Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in
connection with the Option, regardless of any action the Company or any subsidiary takes with respect to any tax withholding obligations that arise in connection with the Option. Neither the Company nor any subsidiary makes any representation or
undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or exercise of the Option or the subsequent sale of Shares. The Company and the subsidiaries do not commit and are under no obligation to structure
the Option to reduce or eliminate Participant’s tax liability. 

  
 A-2 

 ARTICLE IV. 

OTHER PROVISIONS 

4.1    Adjustments. Participant acknowledges that the Option is subject to adjustment, modification and termination
in certain events as provided in this Agreement and the Plan. 
 4.2    Notices. Any notice to be given under the
terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number. Any notice
to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant (or, if Participant is then deceased, to the person entitled to exercise the Option) at Participant’s last known mailing address, email
address or facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually
received, when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally
recognized express shipping company or upon receipt of a facsimile transmission confirmation. 
 4.3    Titles.
Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

4.4    Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement
are intended to conform to the extent necessary with all applicable laws and, to the extent applicable laws permit, will be deemed amended as necessary to conform to applicable laws. 

4.5    Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple
assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees,
legal representatives, successors and assigns of the parties hereto. 
 4.6    Limitations Applicable to
Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the Option will be subject
to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such
exemptive rule. To the extent applicable laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

4.7    Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto)
constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

4.8    Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal
or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

4.9    Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than
as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets.
Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Shares as a general
unsecured creditor with respect to the Option, as and when exercised pursuant to the terms hereof. 

  
 A-3 

 4.10    Not a Contract of Employment. Nothing in the Plan, the
Grant Notice or this Agreement confers upon Participant any right to continue in the employ or service of the Company or any subsidiary or interferes with or restricts in any way the rights of the Company and its subsidiaries, which rights are
hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a
subsidiary and Participant. 
 4.11    Counterparts. The Grant Notice may be executed in one or more
counterparts, including by way of any electronic signature, subject to applicable law, each of which will be deemed an original and all of which together will constitute one instrument. 

4.12    Amendment. This Agreement may be amended or modified by the Company in its discretion; provided that the
Participant’s consent to such action shall be required unless (i) the Board determines that the action, taking into account any related action, would not materially and adversely affect the Participant’s rights under this Agreement or
(ii) the change is permitted under Section 9, 10 or 11(f) of the Plan. 
 4.13    Data Privacy. As a
condition of receipt of the Option, the Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this Section 4.13 by and among, as applicable, the
Company and its subsidiaries for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan. The Company and its subsidiaries may hold certain personal information about the Participant,
including but not limited to, the Participant’s name, home address, telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares of Common Stock held in the
Company or any of its subsidiaries, and details of all awards held by the Participant, in each case, for the purpose of implementing, managing and administering the Plan and awards held by the Participant (the “Data”). The
Company and its subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant’s participation in the Plan, and the Company and its subsidiaries may each
further transfer the Data to any third parties assisting the Company and its subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Participant’s country, or elsewhere, and the
Participant’s country may have different data privacy laws and protections than the recipients’ country. Through acceptance of the Option, the Participant authorizes such recipients to receive, possess, use, retain and transfer the Data,
in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom
the Company or any of its subsidiaries or the Participant may elect to deposit the Shares subject to the Option. The Data related to the Participant will be held only as long as is necessary to implement, administer, and manage the
Participant’s participation in the Plan. The Participant may, at any time, view the Data held by the Company with respect to him or her, request additional information about the storage and processing of the Data with respect to him or her,
recommend any necessary corrections to the Data with respect to him or her or refuse or withdraw the consents herein in writing, in any case without cost, by contacting his or her local human resources representative. The Company may cancel the
Participant’s ability to participate in the Plan and, in the Board’s discretion, the Participant may forfeit any outstanding awards under the Plan if the Participant refuses or withdraws his or her consents as described herein. For more
information on the consequences of refusal to consent or withdrawal of consent, the Participant may contact his or her local human resources representative. 

  
 A-4 

 4.14    Incentive Stock Options. If the Option is designated as
an Incentive Stock Option: 
 (a)    Participant acknowledges that to the extent the aggregate fair market value of
shares (determined as of the time the option with respect to the shares is granted) with respect to which stock options intended to qualify as “incentive stock options” under Section 422 of the Code, including the Option, are
exercisable for the first time by Participant during any calendar year exceeds $100,000 or if for any other reason such stock options do not qualify or cease to qualify for treatment as “incentive stock options” under Section 422 of
the Code, such stock options (including the Option) will be treated as non-qualified stock options. Participant further acknowledges that the rule set forth in the preceding sentence will be applied by taking
the Option and other stock options into account in the order in which they were granted, as determined under Section 422(d) of the Code. Participant acknowledges that amendments or modifications made to the Option pursuant to the Plan that
would cause the Option to become a Nonstatutory Stock Option will not materially or adversely affect Participant’s rights under the Option, and that any such amendment or modification shall not require Participant’s consent. Participant
also acknowledges that if the Option is exercised more than three (3) months after Participant’s Termination of Employment, other than by reason of death or disability, the Option will be taxed as a Nonstatutory Stock Option. 

(b)    Participant will give prompt written notice to the Company of any disposition or other transfer of any Shares
acquired under this Agreement if such disposition or other transfer is made (a) within two (2) years from the Grant Date or (b) within one (1) year after the transfer of such Shares to Participant. Such notice will specify the
date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by Participant in such disposition or other transfer. 

* * * * * 

  
 A-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}]]