Document:

EX-10.2

 Exhibit 10.2 

CLOUDFLARE, INC. 
 2019
EQUITY INCENTIVE PLAN 
 (Adopted on August 30, 2019; Effective as of one business day immediately prior to the Registration Date)

  

							
	 1.
	 	 Purposes of the Plan
	  	 	2	 
			
	 2.
	 	 Shares Subject to the Plan
	  	 	2	 
			
	 3.
	 	 Administration of the Plan
	  	 	3	 
			
	 4.
	 	 Stock Options
	  	 	5	 
			
	 5.
	 	 Restricted Stock
	  	 	7	 
			
	 6.
	 	 Restricted Stock Units
	  	 	8	 
			
	 7.
	 	 Stock Appreciation Rights
	  	 	8	 
			
	 8.
	 	 Performance Stock Units and Performance Shares
	  	 	9	 
			
	 9.
	 	 Performance Awards
	  	 	10	 
			
	 10.
	 	 Leaves of Absence/Transfer Between Locations/Change of Status
	  	 	10	 
			
	 11.
	 	 Transferability of Awards
	  	 	11	 
			
	 12.
	 	 Adjustments; Dissolution or Liquidation
	  	 	12	 
			
	 13.
	 	 Change in Control
	  	 	12	 
			
	 14.
	 	 Tax Matters
	  	 	14	 
			
	 15.
	 	 Other Terms
	  	 	14	 
			
	 16.
	 	 Term of Plan
	  	 	15	 
			
	 17.
	 	 Amendment and Termination of the Plan
	  	 	15	 
			
	 18.
	 	 Conditions Upon Issuance of Shares
	  	 	16	 
			
	 19.
	 	 Stockholder Approval
	  	 	17	 
			
	 20.
	 	 Definitions
	  	 	17	 

 1. Purposes of the Plan. 

The purposes of this Plan are to attract and retain personnel for positions with the Company Group, to provide additional incentive to
Employees, Directors, and Consultants (collectively, “Service Providers”), and to promote the success of the Company’s business. 

The Plan permits the grant of Incentive Stock Options to Employees and the grant of Nonstatutory Stock Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Performance Shares, Performance Stock Units, and Performance Awards to any Service Provider. 

2. Shares Subject to the Plan. 

(a) Allocation of Shares to Plan. The maximum aggregate number of Shares that may be issued under the Plan is: 

(i) 29,335,000 Shares, plus 

(ii) a number of Shares equal to (A) the number of shares of the Company’s Class A or Class B common stock subject to
awards granted under the Company’s 2010 Equity Incentive Plan, as amended and restated (the “2010 Plan”) that, after the date the 2010 Plan is terminated, are cancelled, expire or otherwise terminate without having been exercised in
full and (B) the number of shares of the Company’s Class B common stock that, after the date the 2010 Plan is terminated, are forfeited to the Company, tendered to or withheld by the Company for payment of an exercise price or for tax
withholding, or repurchased by the Company due to failure to vest, with the maximum number of Shares that may be added to the Plan under this Section 2(a)(ii) being equal to 37,326,953 Shares, plus 

(iii) any additional Shares that become available for issuance under the Plan under Sections 2(b) and 2(c). 

The Shares may be authorized but unissued Common Stock or Common Stock issued and then reacquired by the Company. 

(b) Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first day of
each Fiscal Year beginning with the 2021 Fiscal Year, in an amount equal to the least of: 
 (i) 29,335,000 Shares, 

(ii) 5% of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding
Fiscal Year, and 
 (iii) a lesser number of Shares determined by the Administrator. 

(c) Lapsed Awards. 
 (i)
Options and Stock Appreciation Rights. If an Option or Stock Appreciation Right expires or becomes unexercisable without having been exercised in full or is surrendered under an Exchange Program, the unissued Shares subject to the Option or
Stock Appreciation Right will become available for future issuance under the Plan. 

  
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 (ii) Stock Appreciation Rights. Only Shares actually issued pursuant to a Stock
Appreciation Right (i.e., the net Shares issued) will cease to be available under the Plan; all remaining Shares originally subject to the Stock Appreciation Right will remain available for future issuance under the Plan. 

(iii) Full-Value Awards. Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares, Performance
Stock Units or stock-settled Performance Awards that are reacquired by the Company due to failure to vest or are forfeited to the Company will become available for future issuance under the Plan. 

(iv) Withheld Shares. Shares used to pay the Exercise Price of an Award or to satisfy tax withholding obligations related to an Award
will become available for future issuance under the Plan. 
 (v) Cash-Settled Awards. If any portion of an Award under the Plan is
paid to a Participant in cash rather than Shares, that cash payment will not reduce the number of Shares available for issuance under the Plan. 

(d) Incentive Stock Options. The maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal
200% of the aggregate Share number stated in Section 2(a)(i) plus, to the extent allowable under Code Section 422, any Shares that become available for issuance under the Plan under Sections 2(b) and 2(c). 

(e) Adjustment. The numbers provided in Sections 2(a), 2(b), and 2(d) will be adjusted as a result of changes in capitalization and any
other adjustments under Section 12. 
 (f) Substitute Awards. If the Committee grants Awards in substitution for equity
compensation awards outstanding under a plan maintained by an entity acquired by or consolidated with the Company, the grant of those substitute Awards will not decrease the number of Shares available for issuance under the Plan. 

3. Administration of the Plan. 

(a) Procedure. 
 (i)
General. The Plan will be administered by the Board or a Committee (the “Administrator”). Different Administrators may administer the Plan with respect to different groups of Service Providers. The Board may retain the authority to
concurrently administer the Plan with a Committee and may revoke the delegation of some or all authority previously delegated. 
 (ii)
Further Delegation. To the extent permitted by Applicable Laws, the Board or a Committee may delegate to 1 or more officers the authority to grant Awards to Employees of the Company or any of its Subsidiaries who are not officers,
provided that the delegation must specify any limitations on the authority required by Applicable Laws, including the total number of Shares that may be subject to the Awards granted by such officer(s). Such delegation may be revoked at any time by
the Board or Committee. Any such Awards will be granted on the form of Award Agreement most recently approved for use by the Board or a Committee made up solely of Directors, unless the resolutions delegating the authority permit the officer(s) to
use a different form of Award Agreement approved by the Board or a Committee made up solely of Directors. 
 (b) Powers of the
Administrator. Subject to the terms of the Plan, any limitations on delegations specified by the Board, and any requirements imposed by Applicable Laws, the Administrator will have the authority, in its sole discretion, to make any
determinations and perform any actions deemed necessary or advisable to administer the Plan including: 
 (i) to determine the Fair Market
Value; 

  
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 (ii) to approve forms of Award Agreements for use under the Plan (provided that all forms
of Award Agreement must be approved by the Board or the Committee of Directors acting as the Administrator); 
 (iii) to select the Service
Providers to whom Awards may be granted and grant Awards to such Service Providers; 
 (iv) to determine the number of Shares to be covered
by each Award granted; 
 (v) to determine the terms and conditions, consistent with the Plan, of any Award granted. Such terms and
conditions may include, but are not limited to, the Exercise Price, the time(s) when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating to an Award; 
 (vi) to institute and determine the terms and conditions of an
Exchange Program; 
 (vii) to interpret the Plan and make any decisions necessary to administer the Plan; 

(viii) to establish, amend and rescind rules relating to the Plan, including rules relating to
sub-plans established to satisfy laws of jurisdictions other than the United States or to qualify Awards for special tax treatment under laws of jurisdictions other than the United States; 

(ix) to interpret, modify or amend each Award (subject to Section 17), including extending the Expiration Date and the post-termination
exercisability period of such modified or amended Awards; 
 (x) to allow Participants to satisfy tax withholding obligations in any manner
permitted by Section 14; 
 (xi) to delegate ministerial duties to any of the Company’s employees; 

(xii) to authorize any person to take any steps and execute, on behalf of the Company, any documents required for an Award previously granted
by the Administrator to be effective; and 
 (xiii) to allow Participants to defer the receipt of the payment of cash or the delivery of
Shares otherwise due to any such Participants under an Award. 
 (c) Termination of Status. 

(i) Unless a Participant is on a leave of absence approved by the Company or a member of the Company Group, as set forth in Section 10,
or unless otherwise expressly provided in an Award Agreement or required by Applicable Laws, the Participant’s status as a Service Provider, for purposes of the Plan and any Awards granted to him or her under the Plan, will end immediately
before midnight U.S. Pacific Time between (x) the date on which the Participant last actively provides continuous services for a member of the Company Group and (y) the immediately following date (such time of termination, (the
“Termination of Status Date”)). The Administrator has the sole discretion to determine the date on which a Participant stops actively providing services and whether a Participant may still be considered to be providing services while on a
leave of absence and the Administrator may delegate this decision, other than with respect to Officers, to the Company’s senior human resources officer. 

  
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 (ii) This termination of status as a Service Provider will occur regardless of the reason
for such termination, even if the termination is later found to be invalid, in breach of employment laws in the jurisdiction where the Participant is providing services, or in violation of the terms of the Participant’s employment or service
agreement, if any such agreement exists. 
 (iii) Unless otherwise expressly provided in an Award Agreement, determined by the
Administrator or required by Applicable Laws, a Participant’s right to vest in any Award under the Plan will cease and a Participant’s right to exercise any Award under the Plan after termination, if any, will begin as of the Termination
of Status Date and will not be extended by any notice period, whether arising under contract, statute or common law, including any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where the
Participant is providing services. 
 (d) Grant Date. The grant date of an Award (“Grant Date”) will be the date that the
Administrator makes the determination granting such Award or may be a later date if such later date is designated by the Administrator on the date of the determination or under an automatic grant policy. Notice of the determination will be provided
to each Participant within a reasonable time after the Grant Date. 
 (e) Waiver. The Administrator may waive any terms, conditions
or restrictions. 
 (f) Fractional Shares. Except as otherwise provided by the Administrator, any fractional Shares that result from
the adjustment of Awards will be canceled. Any fractional Shares that result from vesting percentages will be accumulated and vested on the date that an accumulated full Share is vested. 

(g) Electronic Delivery. The Company may deliver by e-mail or other electronic means (including
posting on a website maintained by the Company or by a third party under contract with the Company or another member of the Company Group) all documents relating to the Plan or any Award and all other documents that the Company is required to
deliver to its security holders (including prospectuses, annual reports and proxy statements). 
 (h) Choice of Law; Choice of Forum.
The Plan, all Awards and all determinations made and actions taken under the Plan, to the extent not otherwise governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to principles of
conflicts of law. For purposes of litigating any dispute that arises under this Plan, a Participant’s acceptance of an Award is his or her consent to the jurisdiction of the State of Delaware, and agreement that any such litigation will be
conducted in Delaware Court of Chancery, or the federal courts for the United States for the District of Delaware, and no other courts, regardless of where a Participant’s services are performed. 

(i) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be final and
binding on all Participants and any other holders of Awards. 
 4. Stock Options. 

(a) Stock Option Award Agreement. Each Option will be evidenced by an Award Agreement that will specify the number of Shares subject to
the Option, its per share exercise price (“Exercise Price”), its Expiration Date, and such other terms and conditions as the Administrator determines. Each Option will be designated in the Award Agreement as either an Incentive Stock
Option or a Nonstatutory Stock Option. An Option not designated as an Incentive Stock Option is a Nonstatutory Stock Option. 
 (b)
Exercise Price. The Exercise Price for the Shares to be issued upon exercise of an Option will be determined by the Administrator. 

  
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 (c) Form of Consideration. The Administrator will determine the acceptable form(s) of
consideration for exercising an Option and those form(s) of consideration will be described in the Award Agreement. The consideration may consist of any one or more or combination of the following, to the extent permitted by Applicable Laws: 

(i) cash; 
 (ii) check or wire
transfer; 
 (iii) promissory note; 

(iv) other Shares that have a fair market value on the date of surrender equal to the aggregate Exercise Price of the Shares as to which such
Option will be exercised. To the extent not prohibited by the Administrator, this shall include the ability to tender Shares to exercise the Option and then use the Shares received on exercise to exercise the Option with respect to additional
Shares; 
 (v) consideration received by the Company under a cashless exercise arrangement (whether through a broker or
otherwise) implemented by the Company for the exercise of Options that has been approved by the Board or a Committee of Directors; 

(vi) consideration received by the Company under a net exercise program under which Shares are withheld from otherwise deliverable Shares
that has been approved by the Board or a Committee of Directors; and 
 (vii) any other consideration or method of payment to issue Shares
(provided that other forms of considerations may only be approved by the Board or a Committee of Directors). 
 (d) Incentive Stock
Option Limitations. 
 (i) The Exercise Price of an Incentive Stock Option may not be less than 100% of the Fair Market Value on the
Grant Date. 
 (ii) To the extent that the aggregate fair market value of the shares with respect to which incentive stock options under
Code Section 422(b) are exercisable for the first time by a Participant during any calendar year (under all plans and agreements of the Company Group) exceeds $100,000, the incentive stock options whose value exceeds $100,000 will be
treated as nonstatutory stock options. Incentive stock options will be considered in the order in which they were granted. For this purpose the fair market value of the shares subject to an option will be determined as of the grant date of each
option. 
 (iii) The Expiration Date of an Incentive Stock Option will be the day prior to the 10th anniversary of the Grant Date or any earlier date provided in the Award Agreement, subject to clause (iv) below. 

(iv) The following rules apply to Incentive Stock Options granted to Participants who own stock representing more than 10% of the total
combined voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company: 
 (1) the Expiration Date of the
Incentive Stock Option may not be after the day prior to the 5th anniversary of the Grant Date; and 

(2) the Exercise Price may not be less than 110% of the Fair Market Value on the Grant Date. 

  
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 If an Option is designated in the Administrator action that granted it as an Incentive Stock
Option but the terms of the Option do not comply with Sections 4(d)(iv)(1) and 4(d)(iv)(2), then the Option will not qualify as an Incentive Stock Option. All Options granted under the Plan are Nonstatutory Stock Options unless specifically
designated as Incentive Stock Options in the Award Agreement pursuant to which such Options are granted. 
 (e) Exercise of Option.
An Option is exercised when the Company receives: (i) a notice of exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option and (ii) full payment for the Shares with respect
to which the Option is exercised (together with applicable tax withholdings). Shares issued upon exercise of an Option will be issued in the name of the Participant. Until the Shares are issued (as evidenced by the entry on the books of the Company
or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, despite the exercise of the Option. The Company will issue
(or cause to be issued) such Shares promptly after the Option is exercised. An Option may not be exercised for a fraction of a Share. Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of
the Plan (except as provided in Section 2(c)) and for purchase under the Option, by the number of Shares as to which the Option is exercised. 

(f) Expiration of Options. Subject to Section 4(d), an Option’s Expiration Date will be set forth in the Award Agreement. An
Option may expire before its expiration date under the Plan (including pursuant to Sections 3(c), 13(b), 13 or 15(b)) or under the Award Agreement. 

(g) Tolling of Expiration. If exercising an Option prior to its expiration is not permitted because of Applicable Laws, other than the
rules of any stock exchange or quotation system on which the Common Stock is listed or quoted, the Option will remain exercisable until 30 days after the first date on which exercise no longer would be prevented by such provisions. If this would
result in the Option remaining exercisable past its Expiration Date, then unless earlier terminated pursuant to Section 13, the Option will remain exercisable only until the end of the later of (x) the first day on which its exercise would
not be prevented by Section 18(a) and (y) its Expiration Date. 
 5. Restricted Stock. 

(a) Restricted Stock Award Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the
Period of Restriction (if any), the number of Shares granted, and such other terms and conditions as the Administrator determines. For the avoidance of doubt, Restricted Stock may be granted without any Period of Restriction (e.g., vested stock
bonuses). Unless the Administrator determines otherwise, Shares of Restricted Stock will be held in escrow until the end of the Period of Restriction applicable to such Shares. All grants of Restricted Stock and interpretative decisions about
Restricted Stock may be made only by the Administrator. 
 (b) Restrictions: 

(i) Except as provided in this Section 5 or the Award Agreement, Shares of Restricted Stock may not be sold, transferred, pledged,
assigned, or otherwise alienated until the end of the Period of Restriction applicable to such Shares. 
 (ii) During the Period of
Restriction, Service Providers holding Shares of Restricted Stock may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

  
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 (iii) During the Period of Restriction, Service Providers holding Shares of Restricted
Stock will not be entitled to receive dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If the Administrator provides that dividends and distributions will be received and any such
dividends or distributions are paid in cash they will be subject to the same provisions regarding forfeitability as the Shares of Restricted Stock with respect to which they were paid and if such dividend or distributions are paid in Shares, the
Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid and, unless the Administrator determines otherwise, the Company will hold such dividends
until the restrictions on the Shares of Restricted Stock with respect to which they were paid have lapsed. 
 (iv) Except as otherwise
provided in this Section 5 or an Award Agreement, Shares of Restricted Stock covered by each Restricted Stock Award made under the Plan will be released from escrow when practicable after the last day of the applicable Period of Restriction.

 (v) The Administrator may impose, prior to grant, or remove any restrictions on Shares of Restricted Stock. 

6. Restricted Stock Units. 

(a) Restricted Stock Unit Award Agreement. Each Award of Restricted Stock Units will be evidenced by an Award Agreement that will
specify the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units. 
 (b) Vesting
Criteria and Other Terms. The Administrator will set vesting criteria that, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units paid out to the Participant. The Administrator may set vesting
criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (that may include continued employment or service) or any other basis determined by the Administrator in its sole discretion. 

(c) Earning Restricted Stock Units. Upon meeting any applicable vesting criteria, the Participant will have earned the Restricted Stock
Units and will be paid as determined in Section 6(d). The Administrator may reduce or waive any criteria that must be met to earn the Restricted Stock Units. 

(d) Form and Timing of Payment. Payment of earned Restricted Stock Units will be made at the time(s) set forth in the Award Agreement
and determined by the Administrator. Unless otherwise provided in the Award Agreement, the Administrator may settle earned Restricted Stock Units in cash, Shares, or a combination of both. 

7. Stock Appreciation Rights. 

(a) Stock Appreciation Right Award Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will
specify the Exercise Price, its Expiration Date, the conditions of exercise, and such other terms and conditions as the Administrator determines. 

(b) Payment of Stock Appreciation Right Amount. When a Participant exercises a Stock Appreciation Right, he or she will be entitled to
receive a payment from the Company equal to: 
 (i) the excess, if any, between the fair market value on the date of exercise over the
Exercise Price multiplied by 
 (ii) the number of Shares with respect to which the Stock Appreciation Right is exercised. 

  
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 Payment upon Stock Appreciation Right exercise may be made in cash, in Shares (which, on the
date of exercise, have an aggregate Fair Market Value equal to the amount of payment to be made under the Award), or any combination of cash and Shares, with the determination of form of payment made by the Administrator. Shares issued upon exercise
of a Stock Appreciation Right will be issued in the name of the Participant. Until Shares are issued (as evidenced by the entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a stockholder will exist with respect to the Shares subject to a Stock Appreciation Right, despite the exercise of the Stock Appreciation Right. The Company will issue (or cause to be issued) such Shares promptly after the
Stock Appreciation Right is exercised. A Stock Appreciation Right may not be exercised for a fraction of a Share. Exercising a Stock Appreciation Right in any manner will decrease (x) the number of Shares thereafter available under the Stock
Appreciation Right by the number of Shares as to which the Stock Appreciation Right is exercised and (y) the number of Shares thereafter available under the Plan by the number of Shares issued upon such exercise. 

(c) Expiration of Stock Appreciation Rights. A Stock Appreciation Right’s Expiration Date will be set forth in the Award
Agreement. A Stock Appreciation Right may expire before its expiration date under Sections 13 or 15(b) or under the Award Agreement. 
 (d)
Tolling of Expiration. If exercising an Stock Appreciation Right prior to its expiration is not permitted because of Applicable Laws, other than the rules of any stock exchange or quotation system on which the Common Stock is listed or
quoted, the Stock Appreciation Right will remain exercisable until 30 days after the first date on which exercise would no longer be prevented by such provisions. If this would result in the Stock Appreciation Right remaining exercisable past its
Expiration Date, then it will remain exercisable only until the end of the later of (x) the first day on which its exercise would not be prevented by Section 18(a) and (y) its Expiration Date. 

8. Performance Stock Units and Performance Shares. 

(a) Award Agreement. Each Award of Performance Stock Units/Shares will be evidenced by an Award Agreement that will specify any time
period during which any performance objectives or other vesting provisions will be measured (“Performance Period”) and the other material terms of the Award. The Administrator may set performance objectives based upon the achievement of
Company-wide, divisional, business unit or individual goals (including, but not limited to, continued employment or service) or any other basis determined by the Administrator. 

(b) Value of Performance Stock Units/Shares. Each Performance Stock Unit will have an initial value established by the Administrator on
or before the Grant Date. Each Performance Share will have an initial value equal to the Fair Market Value on the Grant Date. 
 (c)
Performance Objectives and Other Terms. The Administrator will set any performance objectives or other vesting provisions (that may include continued employment or service). These objectives or vesting provisions may determine the number or
value of Performance Stock Units/Shares paid out. 
 (d) Earning of Performance Stock Units/Shares. After an applicable Performance
Period has ended, the holder of Performance Stock Units/Shares will be entitled to receive a payout of the number of Performance Stock Units/Shares earned by the Participant over the Performance Period. The Administrator may reduce or waive any
performance objectives or other vesting provisions for such Performance Stock Unit/Share. 

  
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 (e) Payment of Performance Stock Units/Shares. Payment of earned Performance Stock
Units/Shares will be made at the time(s) specified in the Award Agreement Payment with respect to earned Performance Stock Units/Shares may be made in cash, in Shares of equivalent value, or any combination of cash and Shares, with the determination
of form of payment made by the Administrator. 
 9. Performance Awards. 

(a) Award Agreement. Each Performance Award will be evidenced by an Award Agreement that will specify the Performance Period and the
material terms of the Award. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, business unit or individual goals (including, but not limited to, continued employment or service) or any other
basis determined by the Administrator. 
 (b) Value of Performance Awards. Each Performance Award’s threshold, target, and
maximum payout values will be established by the Administrator on or before the Grant Date. 
 (c) Performance Objectives and Other
Terms. The Administrator will set performance objectives or other vesting provisions (that may include continued employment or service). These objectives or vesting provisions will determine the value of the payout for the Performance Awards.

 (d) Earning of Performance Awards. After an applicable Performance Period has ended, the holder of a Performance Award will be
entitled to receive a payout for the Performance Award earned by the Participant over the Performance Period. The Administrator may reduce or waive any performance objectives or other vesting provisions for such Performance Award. 

(e) Payment of Performance Awards. Payment of earned Performance Awards will be made at the time(s) specified in the Award Agreement.
Payment with respect to earned Performance Awards will be made in cash, in Shares of equivalent value, or any combination of cash and Shares, with the determination of form of payment made by the Administrator at the time of payment. 

10. Leaves of Absence/Transfer Between Locations/Change of Status. 

(a) General. Unless otherwise provided by the Administrator, a Participant will not cease to be an Employee in the case of (i) any
leave of absence approved by the Company or other member of the Company Group employing such Employee, (ii) any leave during which the status of an Employee for purposes of the Plan and any Award is protected by Applicable Law, or
(iii) any transfer between locations of the Company or members of the Company Group. 
 (b) Vesting. Unless a leave policy
approved by the Administrator provides otherwise or it is otherwise required by Applicable Law, vesting of Awards granted under the Plan will continue only for Participants on an approved leave of absence. 

(c) Incentive Stock Option Status. If a Participant’s leave of absence approved by the Company or other member of the Company
Group employing such Employee exceeds 3 months and reemployment upon expiration of such leave is not guaranteed by statute or contract, then 3 months following the 1st day of such leave the Participant no longer will be an Employee for Incentive
Stock Option purposes. If reemployment upon expiration of such leave of absence is not guaranteed by statute or contract, then 6 months following the 1st day of such leave any Incentive Stock Option held by the Participant will cease to be treated
as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

  
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 (d) Protected Leaves. 

(i) Any leave of absence by a Participant will be subject to any Applicable Laws that apply to such leave of absence. 

(ii) For a Participant on a military leave, if required by Applicable Laws, vesting will continue for the longest period that vesting
continues under any other statutory or Company-approved leave of absence. When a Participant returns from military leave (under conditions that would entitle him or her to such protection under the Uniformed Services Employment and Reemployment
Rights Act or other Applicable Laws), the Participant will be given vesting credit to the same extent as if the Participant had continued to provide services to the Company or other member of the Company Group, as applicable, through the military
leave. 
 (e) Changes in Status. If a Participant who is an Employee has a reduction in hours worked, the Administrator may
unilaterally: 
 (i) make a corresponding reduction in the number of Shares or cash amount subject to any portion of an Award that is
scheduled to vest or become payable after the date of such reduction in hours; and 
 (ii) in lieu of or in combination with such a
reduction, make a corresponding adjustment to extend the vesting or payment schedule applicable to such Award. 
 If any such reduction
occurs, the Participant will have no right to any portion of the Award that is reduced. 
 (f) Determinations. The effect of a
Company-approved leave of absence, a protected leave of absence, a transfer, or a Participant’s reduction in hours of employment or service on the vesting of an Award shall be determined, under policies reviewed by the Administrator, by the
Company’s senior human resources officer or other person performing that function or, with respect to Directors or Officers by the Compensation Committee of the Board, and any such determination will be final and binding to the maximum extent
permitted by Applicable Laws. 
 11. Transferability of Awards. 

(a) General Rule. Unless determined otherwise by the Administrator, or otherwise required by Applicable Laws, an Award may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes
an Award transferable, the Award will be limited by any additional terms and conditions imposed by the Administrator. Any unauthorized transfer of an Award will be void. 

(b) Domestic Relations Orders. If approved by the Administrator and not prohibited by Applicable Laws, an Award may be transferred
under a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by U.S. Treasury Regulations Section 1.421-1(b)(2). An Incentive Stock Option
may be converted into a Nonstatutory Stock Option as a result of such transfer. 
 (c) Limited Transfers for the Benefit of Family
Members. The Administrator may permit a Grant or Share issued under this Plan to be assigned or transferred subject to the applicable limitations, set forth in the General Instructions to Form S-8
Registration Statement under the Securities Act, if applicable, and any other Applicable Laws. 

  
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 (d) Permitted Transferees. Any individual or entity to whom an Award is transferred
will be subject to all of the terms and conditions applicable to the Participant who transferred the Award, including the terms and conditions in this Plan and the Award Agreement. If an Award is unvested, then the service of the Participant will
continue to determine whether the Award will vest and any Expiration Date. 
 12. Adjustments; Dissolution or Liquidation. 

(a) Adjustments. If any extraordinary dividend or other extraordinary distribution (whether in cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares
or other securities of the Company, issuance of warrants or other rights to acquire securities of the Company, other change in the corporate structure of the Company affecting the Shares, or any similar equity restructuring transaction, as that term
is used in Statement of Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any of its successors) affecting the Shares occurs (including, without limitation, a Change in Control), the Administrator, to prevent
diminution or enlargement of the benefits or potential benefits intended to be provided under the Plan, will adjust the number and class of shares that may be delivered under the Plan and/or the number, class, and price of shares covered by each
outstanding Award, and the numerical Share limits in Section 2 in such a manner as it deems equitable. Notwithstanding the foregoing, the conversion of any convertible securities of the Company and ordinary course repurchases of shares or other
securities of the Company will not be treated as an event that will require adjustment. 
 (b) Dissolution or Liquidation. In the
event of the proposed dissolution or liquidation of the Company, the Administrator will notify each Participant, at such time prior to the effective date of such proposed transaction as the Administrator determines. To the extent it has not been
previously exercised, an Award will terminate immediately prior to the consummation of such proposed action. 
 13. Change in Control.

 (a) Administrator Discretion. If a Change in Control or a merger of the Company with or into another corporation or other
entity occurs (each, a “Transaction”), each outstanding Award will be treated as the Administrator determines, including, without limitation, that such Award be continued by the successor corporation or a Parent or Subsidiary of the
successor corporation or that the vesting of any such Awards may accelerate automatically upon consummation of a Transaction. 
 (b)
Identical Treatment Not Required. The Administrator need not take the same action or actions with respect to all Awards or portions thereof or with respect to all Participants. The Administrator may take different actions with respect to the
vested and unvested portions of an Award. The Administrator will not be required to treat all Awards similarly in the Transaction. 
 (c)
Continuation. An Award will be considered continued if, following the Change in Control or merger: 
 (i) the Award confers the
right to purchase or receive, for each Share subject to the Award immediately prior to the Transaction, the consideration (whether stock, cash, or other securities or property) received in the Transaction by holders of Shares for each Share
held on the effective date of the Transaction (and if holders were offered a choice of consideration, the type of consideration received by the holders of a majority of the outstanding Shares) and the Award otherwise is continued in accordance with
its terms (including vesting criteria, subject to subsection (iii) below and Section 12(a)); provided that if the consideration received in the Transaction is not solely common stock of the successor corporation or its Parent, the
Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon exercising an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit,

  
 - 12 - 

 
Performance Stock Unit, Performance Share or Performance Award, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market
value to the per share consideration received by holders of Common Stock in the Transaction; or 
 (ii) the Award is terminated in exchange
for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights as of the date of the occurrence of the Transaction. Any such cash or
property may be subjected to any escrow applicable to holders of Common Stock in the Change of Control. If as of the date of the occurrence of the Transaction the Administrator determines that no amount would have been attained upon the exercise of
such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment. The amount of cash or property can be subjected to vesting and paid to the Participant over the original vesting schedule
of the Award. 
 (iii) Notwithstanding anything in this Section 13(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided,
however, a modification to such performance goals only to reflect the successor corporation’s post-Transaction corporate structure will not invalidate an otherwise valid Award assumption. 

(d) The Administrator will have authority to modify Awards in connection with a Change in Control or merger: 

(i) in a manner that causes the Awards to lose their tax-preferred status, 

(ii) to terminate any right a Participant has to exercise an Option prior to vesting in the Shares subject to the Option (i.e., “early
exercise”), so that following the closing of the Transaction the Option may only be exercised only to the extent it is vested; 

(iii) to reduce the Exercise Price subject to the Award in a manner that is disproportionate to the increase in the number of Shares subject
to the Award, as long as the amount that would be received upon exercise of the Award immediately before and immediately following the closing of the Transaction is equivalent and the adjustment complies with U.S. Treasury Regulation Section 1.409A-1(b)(v)(D); and 
 (iv) to suspend a Participant’s right to exercise an Option
during a limited period of time preceding and or following the closing of the Transaction without Participant consent if such suspension is administratively necessary or advisable to permit the closing of the Transaction. 

(e) Non-Continuation. If the successor corporation does not continue an Award (or some portion
such Award), the Participant will fully vest in (and have the right to exercise) 100% of the then-unvested Shares subject to his or her outstanding Options and Stock Appreciation Rights, all restrictions on 100% of the Participant’s outstanding
Restricted Stock and Restricted Stock Units will lapse, and, regarding 100% of Participant’s outstanding Awards with performance-based vesting, all performance goals or other vesting criteria will be treated as achieved at 100% of target levels
and all other terms and conditions met. In no event will vesting of an Award accelerate as to more than 100% of the Award. If Options or Stock Appreciation Rights are not continued when a Change in Control or a merger of the Company with or into
another corporation or other entity occurs, the Administrator will notify the Participant in writing or electronically that the Participant’s vested Options or Stock Appreciation Rights (after considering the foregoing vesting acceleration, if
any) will be exercisable for a period of time determined by the Administrator in its sole discretion and all of the Participant’s Options or Stock Appreciation Rights will terminate upon the expiration of such period (whether vested or
unvested). 

  
 - 13 - 

 (f) Outside Director Grants. With respect to Awards granted to an Outside Director,
in the event of a Change in Control, the Participant will fully vest in and have the right to exercise outstanding Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which otherwise would
not be vested or exercisable, all restrictions on other outstanding Awards will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%)
of target levels and all other terms and conditions met. 
 14. Tax Matters. 

(a) Withholding Requirements. Prior to the delivery of any Shares or cash under an Award (or exercise thereof) or such earlier
time as any Tax Obligations are due, the Company may deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy any Tax Obligations with respect to such Award or Shares subject to an Award (including
without limitation upon exercise of an Award). 
 (b) Withholding Arrangements. The Administrator, in its sole discretion and under
such procedures as it may specify from time to time, may elect to satisfy such Tax Obligations, in whole or in part by (without limitation) (i) requiring the Participant to pay cash, (ii) withholding otherwise deliverable cash
(including cash from the sale of Shares issued to the Participant) or Shares having a fair market value equal to the amount required to be withheld, (iii) forcing the sale of Shares issued pursuant to an Award (or exercise thereof) having
a fair market value equal to the minimum statutory amount required to be withheld or a greater amount if such greater amount would not result in unfavorable financial accounting treatment, (iv) requiring the Participant to deliver to the
Company already-owned Shares having a fair market value equal to the minimum statutory amount required to be withheld or a greater amount if such greater amount would not result in unfavorable financial accounting treatment, or (v) requiring
the Participant to engage in a cashless exercise transaction (whether through a broker or otherwise) implemented by the Company in connection with the Plan, provided that, in all instances, the satisfaction of the Tax Obligations will not
result in any adverse accounting consequence to the Company, as the Administrator may determine in its sole discretion. The fair market value of the Shares to be withheld or delivered will be determined as of the date the taxes must be withheld.

 (c) Compliance With Code Section 409A. Except as otherwise determined by the Administrator, it is intended that
Awards will be designed and operated so that they are either exempt from the application of Code Section 409A or comply with any requirements necessary to avoid the imposition of additional tax under Code Section 409A(a)(1)(B) so that the
grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A and the Plan and each Award Agreement will be interpreted consistent with this intent. This Section 14(c) is
not a guarantee to any Participant of the consequences of his or her Awards. In no event will the Company or any other member of the Company Group reimburse a Participant for any tax imposed or other costs incurred as a result of Code
Section 409A. 
 15. Other Terms. 

(a) No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right regarding continuing
the Participant’s relationship as a Service Provider with the Company or member of the Company Group, nor will they interfere with the Participant’s right, or the Participant’s employer’s right, to terminate such relationship
with or without cause, to the extent permitted by Applicable Laws. 
 (b) Forfeiture Events. 

(i) All Awards granted under the Plan will be subject to recoupment under any clawback policy that the Company is required to adopt pursuant
to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by 

  
 - 14 - 

 
the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable Laws. In addition, the Administrator may impose such other clawback, recovery or recoupment provisions in an
Award Agreement as the Administrator determines necessary or appropriate, including but not limited to a reacquisition right regarding previously acquired Shares or other cash or property. Unless this Section 15(b) is specifically mentioned and
waived in an Award Agreement or other document, no recovery of compensation under a clawback policy or otherwise will be an event that triggers or contributes to any right of a Participant to resign for “good reason” or “constructive
termination” (or similar term) under any agreement with the Company or a member of the Company Group. 
 (ii) The Administrator
may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award will be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any
otherwise applicable vesting or performance conditions of an Award. Such events may include, but will not be limited to, termination of such Participant’s status as Service Provider for cause or any specified action or inaction by a
Participant, whether before or after such Participant’s Termination Status Date, that would constitute cause for termination of such Participant’s status as a Service Provider. 

(iii) If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of
misconduct, with any financial reporting requirement under securities laws, any Participant who (x) knowingly or through gross negligence engaged in the misconduct or who knowingly or through gross negligence failed to prevent the misconduct or
(y) is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, must reimburse the Company the amount of any payment in settlement of an Award earned or accrued during the 12-month period following the first public issuance or filing with the United States Securities and Exchange Commission (whichever first occurred) of the financial document embodying such financial reporting
requirement. 
 (c) Plan Governs. In the event between the terms and conditions of the Plan and the terms and conditions of any Grant
Agreement, the terms and conditions of the Plan will prevail. 
 16. Term of Plan. 

Subject to Section 19, the Plan will become effective upon the business day immediately prior to the Registration Date. It will continue
in effect until terminated under Section 17, but no Incentive Stock Options may be granted after 10 years from the date the Plan is adopted by the Board and Section 2(b) will operate only until the 10th anniversary of the date the Plan is adopted by the Board. 
 17. Amendment and
Termination of the Plan. 
 (a) Amendment and Termination. The Board or Compensation Committee of the Board may amend, alter,
suspend or terminate the Plan. 
 (b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the
extent necessary or desirable to comply with Applicable Laws. 
 (c) Consent of Participants Generally Required. Subject to
Section 17(d) below, no amendment, alteration, suspension or termination of the Plan or an Award under it will materially impair the rights of any Participant without a signed, written agreement between the Participant and the Company.
Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it regarding Awards granted under the Plan prior to such termination. 

  
 - 15 - 

 (d) Exceptions to Consent Requirement. 

(i) A Participant’s rights will not be deemed to have been impaired by any amendment, alteration, suspension or termination if the
Administrator, in its sole discretion, determines that the amendment, alteration, suspension or termination taken as a whole, does not materially impair the Participant’s rights; and 

(ii) Subject to any limitations of Applicable Laws, the Administrator may amend the terms of any one or more Awards without the affected
Participant’s consent even if it does materially impair the Participant’s right if such amendment is done 
 (1) in a manner
specified by the Plan, 
 (2) to maintain the qualified status of the Award as an Incentive Stock Option under Code Section 422, 

(3) to change the terms of an Incentive Stock Option, if such change results in impairment of the Award only because it impairs the qualified
status of the Award as an Incentive Stock Option under Code Section 422, 
 (4) to clarify the manner of exemption from Code
Section 409A or compliance with any requirements necessary to avoid the imposition of additional tax under Code Section 409A(a)(1)(B), or 

(5) to comply with other Applicable Laws. 

18. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to an Award, including without limitation upon exercise thereof, unless the
issuance and delivery of such Shares and exercise of the Award, as applicable, will comply with Applicable Laws. If required by the Administrator, issuance will be further subject to the approval of counsel for the Company with respect to such
compliance. The inability of the Company to obtain authority from any regulatory body having jurisdiction or to complete or comply with the requirements of any Applicable Laws will relieve the Company of any liability regarding the failure to issue
or sell such Shares as to which such authority, registration, qualification or rule compliance was not obtained and the Administrator reserves the authority, without the consent of a Participant, to terminate or cancel Awards with or without
consideration in such a situation. 
 (b) Investment Representations. As a condition to the exercise of an Award, the Company may
require the person exercising such Award to represent and warrant during any such exercise that the Shares are being purchased only for investment and with no present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 (c) Failure to Accept Award. If a Participant has not accepted an Award or has not
taken all administrative and other steps (e.g., setting up an account with a broker designated by the Company) necessary for the Company to issue Shares upon the vesting, exercise, or settlement of the Award prior to the first date the Shares
subject to such Award are scheduled to vest, then the Award will be cancelled on such date and the Shares subject to such Award immediately will revert to the Plan for no additional consideration unless otherwise provided by the Administrator. 

  
 - 16 - 

 19. Stockholder Approval. 

The Plan will be subject to approval by the stockholders of the Company within 12 months after the date the Plan is adopted by the Board.
Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 
 20. Definitions. 

The following definitions are used in this Plan: 

(a) “Applicable Laws” means the requirements relating to the administration of equity-based awards and the related issuance of
Shares under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and, only to the extent applicable with respect to an Award or Awards, the
tax, securities, exchange control, and other laws of any jurisdictions other than the United States where Awards are, or will be, granted under the Plan. Reference to a section of an Applicable Law or regulation related to that section shall include
such section or regulation, any valid regulation issued under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

(b) “Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock,
Restricted Stock Units, Performance Stock Units, Performance Shares, or Performance Awards. 
 (c) “Award Agreement” means the
written or electronic agreement setting forth the terms applicable to an Award granted under the Plan. The Award Agreement is subject to the terms of the Plan. 

(d) “Board” means the Board of Directors of the Company. 

(e) “Change in Control” means the occurrence of any of the following events: 

(i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, that for this subsection, the acquisition
of additional stock by any one Person, who prior to such acquisition is considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control. Further, if the stockholders of the
Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company’s voting stock immediately prior to the change
in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power of the stock of the Company, such event shall not be considered a Change in Control under this Section 20(e)(i). For this purpose, indirect
beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or
more subsidiary corporations or other business entities; or 
 (ii) A change in the effective control of the Company which occurs on the
date a majority of members of the Board is replaced during any 12-month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the appointment or
election. For this Section 20(e)(ii), if any Person is in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

  
 - 17 - 

 (iii) A change in the ownership of a substantial portion of the Company’s assets which
occurs on the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a
total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, that for this Section 20(e)(iii), the
following will not constitute a change in the ownership of a substantial portion of the Company’s assets: 
 (1) a transfer to an
entity controlled by the Company’s stockholders immediately after the transfer, or 
 (2) a transfer of assets by the Company to: 

(A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock,

 (B) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, 

(C) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the
Company, or 
 (D) an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a Person
described in subsections 20(e)(iii)(2)(A) to 20(e)(iii)(2)(C). 
 For this definition, gross fair market value means the value of the assets
of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. For this definition, persons will be acting as a group if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 A transaction will not be a
Change in Control: 
 (iv) unless the transaction qualifies as a change in control event within the meaning of Code Section 409A; or

 (v) if its sole purpose is to (1) change the state of the Company’s incorporation, or (2) create a holding company owned
in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 
 (f)
“Code” means the U.S. Internal Revenue Code of 1986. Reference to a section of the Code or regulation related to that section shall include such section or regulation, any valid regulation issued under such section, and any comparable
provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 
 (g)
“Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board. 
 (h)
“Common Stock” means the Class A common stock of the Company. 
 (i) “Company” means Cloudflare, Inc., a Delaware
corporation, or any of its successors. 

  
 - 18 - 

 (j) “Company Group” means the Company, any Parent or Subsidiary, and any entity
that, from time to time and at the time of any determination, directly or indirectly, is in control of, is controlled by or is under common control with the Company. 

(k) “Consultant” means any natural person engaged by a member of the Company Group to render bona fide services to such entity,
provided the services (i) are not in connection with the offer or sale of securities in a capital raising transaction, and (ii) do not directly promote or maintain a market for the Company’s securities. A Consultant must be a person
to whom the issuance of Shares registered on Form S-8 under the Securities Act is permitted. 
 (l)
“Director” means a member of the Board. 
 (m) “Employee” means any person, including Officers and Directors, employed
by the Company or any member of the Company Group. However, with respect to Incentive Stock Options, an Employee must be employed by the Company or any Parent or Subsidiary of the Company. Notwithstanding, Options awarded to individuals not
providing services to the Company or a Subsidiary of the Company should be carefully structured to comply with the payment timing rule of Code Section 409A. Neither service as a Director nor payment of a director’s fee by the Company will
constitute “employment” by the Company. 
 (n) “Exchange Act” means the U.S. Securities Exchange Act of 1934. 

(o) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange for awards
of the same type (which may have higher or lower Exercise Prices and different terms), awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other
person or entity selected by the Administrator, and/or (iii) the Exercise Price of an outstanding Award is increased or reduced. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion. 

(p) “Expiration Date” means the last possible day on which an Option or Stock Appreciation Right may be exercised. Any exercise must
be completed before midnight U.S. Pacific Time between the Expiration Date and the following date; provided, however, that any broker-assisted cashless exercise of an Option granted hereunder must be completed by the close of market trading on the
Expiration Date. 
 (q) “Fair Market Value” means, as of any date, the value of a Share, determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New York
Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market of The NASDAQ Stock Market, the Fair Market Value will be the closing sales price for a Share (or the closing bid, if no sales were
reported) as quoted on such exchange or system on the day of determination, as reported by such source as the Administrator determines to be reliable; 

(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of
a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date on the last Trading Day such bids and asks were reported), as reported by such
source as the Administrator determines to be reliable; 
 (iii) For any Awards granted on the Registration Date, the Fair Market Value will
be the initial price to the public set forth in the final prospectus included within the registration statement on Form S-1 filed with the United States Securities and Exchange Commission for the initial
public offering of the Common Stock; or 

  
 - 19 - 

 (iv) Absent an established market for the Common Stock, the Fair Market Value will be
determined in good faith by the Administrator. 
 Notwithstanding the foregoing, if the determination date for the Fair Market Value occurs
on a weekend, holiday or other non-Trading Day, the Fair Market Value will be the price as determined under subsections 20(q)(i)or 20(q)(ii) above on the immediately preceding Trading Day, unless
otherwise determined by the Administrator. In addition, for purposes of determining the fair market value of shares for any reason other than the determination of the Exercise Price of Options or Stock Appreciation Rights, fair market value will be
determined by the Administrator in a manner compliant with Applicable Laws and applied consistently for such purpose. Note that the determination of fair market value for purposes of tax withholding may be made in the Administrator’s sole
discretion subject to Applicable Laws and is not required to be consistent with the determination of Fair Market Value for other purposes. 

(r) “Fiscal Year” means a fiscal year of the Company. 

(s) “Incentive Stock Option” means an Option that is intended to qualify and does qualify as an incentive stock option within the
meaning of Code Section 422. 
 (t) “Nonstatutory Stock Option” means an Option that by its terms does not qualify or is not
intended to qualify as an Incentive Stock Option. 
 (u) “Officer” means a person who is an officer of the Company within the
meaning of Section 16 of the Exchange Act. 
 (v) “Option” means a stock option to acquire Shares granted under
Section 4. 
 (w) “Outside Director” means a Director who is not an Employee. 

(x) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Code Section 424(e). 

(y) “Participant” means the holder of an outstanding Award. 

(z) “Performance Awards” means an Award which may be earned in whole or in part upon attainment of performance goals or other
vesting criteria as the Administrator may determine and which will be settled for cash, Shares or other securities or a combination of the foregoing under Section 9. 

(aa) “Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance
goals or other vesting criteria as the Administrator may determine under Section 8. 
 (bb) “Performance Stock Units” means
an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing under
Section 8. 
 (cc) “Performance Stock Units/Shares” means Performance Stock Units or Performance Shares, as applicable. 

  
 - 20 - 

 (dd) “Period of Restriction” means the period during which the transfer of Shares
of Restricted Stock is subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of
other events as determined by the Administrator. 
 (ee) “Plan” means this 2019 Equity Incentive Plan. 

(ff) “Registration Date” means the effective date of the first registration statement filed by the Company and declared effective
under Section 12(b) of the Exchange Act, with respect to any class of the Company’s securities. 
 (gg) “Restricted
Stock” means Shares issued under an Award granted under Section 5 or issued as a result of the early exercise of an Option. 

(hh) “Restricted Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value, granted under
Section 6. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 
 (ii) “Securities
Act” means U.S. Securities Act of 1933. 
 (jj) “Service Provider” means an Employee, Director or Consultant. 

(kk) “Share” means a share of Common Stock. 

(ll) “Stock Appreciation Right” means an Award granted (alone or in connection with an Option) under Section 7. 

(mm) “Subsidiary” means a “subsidiary corporation” as defined in Code Section 424(f), in relation to the Company.

 (nn) “Tax Obligations” means tax, social insurance and social security liability or premium obligations in connection with the
Awards, including, without limitation, (i) all federal, state, and local income, employment and any other taxes (including the Participant’s U.S. Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by
the Company or a member of the Company Group, (ii) the Participant’s and, to the extent required by the Company, the fringe benefit tax liability of the Company or a member of the Company Group, if any, associated with the grant, vesting,
or exercise of an Award or sale of Shares issued under the Award, and (iii) any other taxes or social insurance or social security liabilities or premium the responsibility for which the Participant has, or has agreed to bear, with respect to
such Award or the Shares subject to an Award. 
 (oo) “Trading Day” means a day on which the primary stock exchange or national
market system on which the Common Stock trades is open for trading. 

  
 - 21 - 

 CLOUDFLARE, INC. 

2019 EQUITY INCENTIVE PLAN 

NOTICE OF STOCK OPTION GRANT AND STOCK OPTION AGREEMENT 

Capitalized terms that are not defined in this Notice of Stock Option Grant and Stock Option Agreement (the “Notice of Grant”), the Terms and
Conditions of Stock Option Grant, or any of the exhibits to these documents (all together, the “Agreement”) have the meanings given to them in the Cloudflare, Inc. 2019 Equity Incentive Plan (the “Plan”). 

The Participant has been granted an Option according to the terms below and subject to the terms and conditions of the Plan and this Agreement: 

 

			
	Participant	 	 
		
	Participant I.D.	 	 
		
	Grant Number	 	 
		
	Grant Date	 	 
		
	Vesting Start Date	 	 
		
	Number of Shares Granted	 	 
		
	Exercise Price per Share	 	 
		
	Total Exercise Price	 	 
		
	Type of Option	 	Incentive Stock Option
		
		 	Nonstatutory Stock Option
		
	Expiration Date	 	 

 Vesting Schedule: 
 Unless
the vesting is accelerated, this Option will be exercisable to the extent vested on the following schedule: 
 [insert vesting schedule]

 In addition to the vesting terms set forth above for this award, the Option’s vesting will be accelerated in accordance with any vesting
acceleration provisions approved by the Administrator. If the Participant ceases to be a Service Provider for any or no reason before he or she fully vests in this Option, the unvested portion of this Option will terminate according to the
terms of Section 4 of this Agreement. 
 Exercise of Option: 
  

	 	(a)	 If the Participant dies or his or her status as a Service Provider is terminated due to his or her Disability,
the vested portion of this Option will remain exercisable for 12 months after the Termination of Status Date. For any other termination of status as a Service Provider, the vested portion of this Option will remain exercisable for 3 months after the
Termination of Status Date. 

	 	(b)	 If a Transaction occurs, Section 13 of the Plan may further limit this Option’s exercisability.

  

	 	(c)	 This Option will not be exercisable after the Expiration Date, except as may be permitted in accordance with
Section 4(g) of the Plan (which tolls expiration in very limited cases when there are legal restrictions on exercise). 

 The
Participant’s signature below indicates that: 
  

	 	(i)	 He or she agrees that this Option is granted under and governed by the terms and conditions of the Plan and
this Agreement, including their exhibits and appendices. 

  

	 	(ii)	 He or she understands that the Company is not providing any tax, legal, or financial advice and is not making
any recommendations regarding his or her participation in the Plan or his or her acquisition or sale of Shares. 

  

	 	(iii)	 He or she has reviewed the Plan and this Agreement, has had an opportunity to obtain the advice of personal
tax, legal, and financial advisors prior to signing this Agreement, and fully understands all provisions of the Plan and Agreement. He or she will consult with his or her own personal tax, legal, and financial advisors before taking any action
related to the Plan. 

  

	 	(iv)	 He or she has read and agrees to each provision of Section 11 of this Agreement. 

 

	 	(v)	 He or she will notify the Company of any change to the contact address below. 

 

			
	PARTICIPANT
		
	   
	 	   

	Signature	 	
		
	 Address:
	 	 
		
		 	 
		
		 	 

  
 - 2 - 

 EXHIBIT A 

TERMS AND CONDITIONS OF STOCK OPTION GRANT 

1. Grant. The Company grants the Participant an Option to purchase Shares of Common Stock as described in the Notice of Grant. If there
is a conflict between the Plan, this Agreement, or any other agreement with the Participant governing this Option, those documents will take precedence and prevail in the following order: (a) the Plan, (b) the Agreement, and (c) any
other agreement between the Company and the Participant governing this Option. 
 If the Notice of Grant designates this Option as an
Incentive Stock Option (“ISO”), this Option is intended to qualify as an ISO under Code Section 422. Even if this Option is designated an ISO, to the extent it first become exercisable as to more than $100,000 in any calendar
year, the portion in excess of $100,000 is not an ISO under Code Section 422(d) and that portion will be a Nonstatutory Stock Option (“NSO”). In addition, if the Participant exercises the Option after 3 months have passed
since he or she ceased to be an employee of the Company or a Parent or Subsidiary of the Company, it will no longer be an ISO. If there is any other reason this Option (or a portion of it) will not qualify as an ISO, to the extent of such
nonqualification, the Option will be an NSO. The Participant understands that he or she will have no recourse against the Administrator, any member of the Company Group, or any officer or director of a member of the Company Group if any portion of
this Option is not an ISO. 
 2. Vesting. This Option will only be exercisable (also referred to as vested) under the Vesting
Schedule in the Notice of Grant, Section 3 of this Agreement, or Section 13 of the Plan. Shares scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest unless the Participant continues to be a
Service Provider until the time such vesting is scheduled to occur. The Administrator may modify the Vesting Schedule according to its authority under the Plan if the Participant takes a leave of absence or has a reduction in hours worked. 

3. Administrator Discretion. The Administrator has the discretion to accelerate the vesting of any portion of this Option. In that
case, this Option will be vested as of the date and to the extent specified by the Administrator. 
 4. Forfeiture upon Termination of
Status as a Service Provider. Upon the Participant’s termination as a Service Provider for any reason, this Option will immediately stop vesting and any portion of this Option that has not yet vested will be immediately forfeited for no
consideration upon: (a) the 30th day following the Termination of Status Date (or any earlier date on or following the Termination of Status Date determined by the Administrator) if Participant’s termination as a Service Provider is due to
the Participant’s death or (b) the Termination of Status Date if Participant’s termination as a Service Provider is for any reason other than the Participant’s death, in all cases, subject to Applicable Laws. The date of the
Participant’s termination as a Service Provider is detailed in Section 3(c) of the Plan. 
 5. Death of Participant. Any
distribution or delivery to be made to the Participant under this Agreement will, if he or she is then deceased, be made to the administrator or executor of his or her estate or, if the Administrator permits, his or her designated beneficiary. Any
such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations that
apply to the transfer. 
 6. Exercise of Option. 

(a) Right to Exercise. This Option may be exercised only before its Expiration Date and only under the Plan and this Agreement. 

  
 - 3 - 

 (b) Method of Exercise. To exercise this Option, the Participant must deliver and the
Administrator must receive an exercise notice according to procedures determined by the Administrator. The exercise notice must: 
 (i)
state the number of Shares as to which this Option is being exercised (“Exercised Shares”), 
 (ii) make any
representations or agreements required by the Company, 
 (iii) be accompanied by a payment of the total exercise price for all Exercised
Shares, and 
 (iv) be accompanied by a payment of all required Tax-Related Items (defined in
Section 8(a) of this Agreement) for all Exercised Shares. 
 The Option is exercised when both the exercise notice and payments due under Sections
6(b)(iii) and 6(b)(iv) have been received by the Company for all Exercised Shares. The Administrator may designate a particular exercise notice to be used, but until a designation is made, the exercise notice attached to this Agreement as Exhibit
C may be used. 
 7. Method of Payment. The Participant may pay the exercise price for Exercised Shares by any of the following
methods or a combination of methods: 
 (a) cash; 

(b) check; 
 (c) wire transfer;

 (d) consideration received by the Company under a formal cashless exercise program adopted by the Company; or 

(e) surrender of other Shares, as long as the Company determines that accepting such Shares does not result in any adverse accounting
consequences to the Company. If Shares are surrendered, the value of those Shares will be the Fair Market Value for those Shares on the date they are surrendered. 

A non-U.S. resident’s methods of exercise may be restricted by the terms and condition of any appendix to this
Agreement for the Participant’s country (the “Appendix”). 
 8. Tax Obligations. 

(a) Tax Withholding. 

(i) No Shares will be issued to the Participant until he or she makes satisfactory arrangements (as determined by the Administrator) for the
payment of income, employment, social insurance, National Insurance Contributions, payroll tax, fringe benefit tax, payment on account, or other tax-related items related to his or her participation in the
Plan and legally applicable to him or her that the Administrator determines must be withheld (“Tax-Related Items”), including those that result from the grant, vesting, or exercise of this
Option, the subsequent sale of Shares acquired under this Option or the receipt of any dividends. If the Participant is a non-U.S. employee, the method of payment of
Tax-Related Items may be restricted by any Appendix. If the Participant fails to make satisfactory arrangements for the payment of any Tax-Related Items under this
Agreement at the time of an attempted Option exercise, the Company may refuse to honor the exercise and refuse to deliver the Shares. 

  
 - 4 - 

 (ii) The Company has the right (but not the obligation) to satisfy any Tax-Related Items by withholding from proceeds of a sale of Shares acquired upon the exercise of this Option arranged by the Company (on the Participant’s behalf pursuant to this authorization without further
consent). 
 (iii) The Company has the right (but not the obligation) to satisfy any
Tax-Related Items by reducing the number of Shares otherwise deliverable to the Participant), and this will be the method by which such tax withholding obligations are satisfied until the Company determines
otherwise, subject to Applicable Laws. 
 (iv) The Participant authorizes the Company and/or any member(s) of the Company Group for whom he
or she is performing services (each, an “Employer”) to withhold any Tax-Related Items legally payable by the Participant from his or her wages or other cash compensation paid to the
Participant by the Company and/or the Employer(s) or from proceeds of the sale of Shares. 
 (v) Further, if the Participant is subject to
taxation in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, the Company and/or the Employer(s) or former Employer(s) may withhold or account for tax in more than one jurisdiction. 

(vi) Regardless of any action of the Company or the Employer(s), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains his or her responsibility and may exceed the amount actually withheld by the Company or the Employer(s). The Participant further acknowledges that the Company and the
Employer(s) (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option; and (2) do not commit to and are under no
obligation to structure the terms of the grant or any aspect of this Option to reduce or eliminate his or her liability for Tax-Related Items or achieve any particular tax result. 

(b) Tax Reporting. This Section 8(b) applies if the Participant is a U.S. income taxpayer. If this Option is partially or wholly
an ISO, and if the Participant sells or otherwise disposes of any the Shares acquired by exercising the ISO portion on or before the later of (i) the date 2 years after the Grant Date, or (ii) the date 1 year after the date of
exercise, he or she may be subject to withholding of Tax-Related Items by the Company on the compensation income recognized by him or her and must immediately notify the Company in writing of the disposition.

 9. Forfeiture or Clawback. This Option (including any proceeds, gains or other economic benefit received by the Participant from
any subsequent sale of Shares resulting from the exercise) will be subject to any compensation recovery or clawback policy implemented by the Company before the date of this Agreement and any policy referred to in Section 15(b) of the Plan.
This includes any clawback policy adopted to comply with the requirements of Applicable Laws. 
 10. Rights as Stockholder. The
Participant’s rights as a stockholder of the Company (including the right to vote and to receive dividends and distributions) will not begin until Shares have been issued and recorded on the records of the Company or its transfer agents or
registrars. 
 11. Acknowledgements and Agreements. The Participant’s signature on the Notice of Grant accepting this Option
indicates that: 
 (a) HE OR SHE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THIS OPTION IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER
AND THAT BEING HIRED, GRANTED THIS OPTION, AND EXERCISING THE OPTION WILL NOT RESULT IN VESTING. 

  
 - 5 - 

 (b) HE OR SHE FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AND AGREEMENT DO NOT CREATE
AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND DOES NOT INTERFERE IN ANY WAY WITH HIS OR HER RIGHT OR THE RIGHT OF THE EMPLOYER(S) TO TERMINATE HIS OR HER
RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 
 (c) The Participant agrees that this
Agreement and its incorporated documents reflect all agreements on its subject matters and that he or she is not accepting this Agreement based on any promises, representations, or inducements other than those reflected in the Agreement. 

(d) The Participant understands that exercise of this Option is governed strictly by Sections 6, 7, and 8 of this Agreement and that
failure to comply with those Sections could result in the expiration of this Option, even if an attempt was made to exercise. 
 (e) The
Participant agrees that the Company’s delivery of any documents related to the Plan or this Option (including the Plan, the Agreement, the Plan’s prospectus and any reports of the Company provided generally to the Company’s
stockholders) to him or her may be made by electronic delivery, which may include the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail, or any other means of electronic delivery specified by the Company. If the attempted electronic delivery of such documents fails, the Participant will be provided with a paper copy of the documents. The
Participant acknowledges that he or she may receive from the Company a paper copy of any documents that were delivered electronically at no cost to him or her by contacting the Company by telephone or in writing. The Participant may revoke his or
her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are to be delivered (if the Participant has provided an electronic mail address) at any time by notifying the Company of such
revoked consent or revised e-mail address by telephone, postal service or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents.

 (f) The Participant may deliver any documents related to the Plan or this Option to the Company by
e-mail or any other means of electronic delivery approved by the Administrator, but he or she must provide the Company or any designated third party administrator with a paper copy of any documents if his or
her attempted electronic delivery of such documents fails. 
 (g) The Participant accepts that all good faith decisions or interpretations
of the Administrator regarding the Plan and Awards under the Plan are binding, conclusive, and final. No member of the Administrator will be personally liable for any such decisions or interpretations. 

(h) The Participant agrees that the Plan is established voluntarily by the Company, is discretionary in nature, and may be amended, suspended,
or terminated by the Company at any time, to the extent permitted by the Plan. 
 (i) The Participant agrees that the grant of this Option
is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted in the past. 

(j) The Participant agrees that any decisions regarding future Awards will be in the Company’s sole discretion. 

(k) The Participant agrees that he or she is voluntarily participating in the Plan. 

(l) The Participant agrees that this Option and any Shares acquired under the Plan are not intended to replace any pension rights or
compensation. 

  
 - 6 - 

 (m) The Participant agrees that this Option, any Shares acquired under the Plan, and their
income and value are not part of normal or expected compensation for any purpose, including for calculating any severance, resignation, termination, redundancy, dismissal,
end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits, or similar payments. 

(n) The Participant agrees that the future value of the Shares underlying this Option is unknown, indeterminable, and cannot be predicted with
certainty. 
 (o) The Participant understands that if the underlying Shares do not increase in value, this Option will have no intrinsic
monetary value. 
 (p) The Participant understands that if this Option is exercised, the value of each Share received on exercise may
increase or decrease in value, even below the Exercise Price per Share. 
 (q) The Participant agrees that, for purposes of this Option, his
or her engagement as a Service Provider is terminated as of the Termination of Status Date (regardless of the reason for such termination and whether or not the termination is later found to be invalid or in breach of employment laws in the
jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any), unless otherwise expressly provided in this Agreement or determined by the Administrator. 

(r) The Participant agrees that any right to vest in this Option will be extended by any notice period (e.g., the period that he or she is a
Service Provider would include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws (including common law, if applicable) in the jurisdiction where he or she is a Service Provider
or by his or her service agreement or employment agreement, if any) and the Termination of Status Date will not occur until the end of such period, unless otherwise expressly provided in this Agreement or determined by the Administrator or required
by Applicable Law. 
 (s) The Participant agrees that the period during which the Participant may exercise the vested portion of this Option
after a termination of his or her status as a Service Provider (if any) will start as of the Termination of Status Date (regardless of the reason for such termination and whether or not the termination is later found to be invalid or in breach
of employment laws in the jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any), unless otherwise expressly provided in this Agreement or determined by the Administrator or required by Applicable
Law. 
 (t) The Participant agrees that the Administrator has the exclusive discretion to determine when he or she is no longer actively
providing services for purposes of this Option (including whether he or she is still considered to be providing services while on a leave of absence). 

(u) The Participant agrees that no member of the Company Group is liable for any foreign exchange rate fluctuation between the
Participant’s local currency and the United States Dollar that may affect the value of this Option or of any amounts due to him or her from the exercise of this Option or the subsequent sale of any Shares acquired upon exercise. 

(v) The Participant has read and agrees to the Data Privacy provisions of Section 12 of this Agreement. 

(w) The Participant agrees that he or she has no claim or entitlement to compensation or damages from any forfeiture of this Option resulting
from the termination of his or her status as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where he or she is a Service Provider or the terms of his or her
service agreement, if any), and in consideration of the grant of this Option to which he or she is otherwise not entitled, he or she irrevocably agrees 

  
 - 7 - 

 
never to institute any claim against the Company or any member of the Company Group, waives his or her ability (if any) to bring any such claim, and releases the Company and all members of the
Company Group from any such claim. If any such claim is nevertheless allowed by a court of competent jurisdiction, then the Participant’s participation in the Plan constitutes his or her irrevocable agreement to not pursue such claim and to
execute any and all documents necessary to request dismissal or withdrawal of such claim. 
 12. Data Privacy.  

(a) The Participant voluntarily consents to the collection, use and transfer, in electronic or other form, of his or her personal data as
described in this Agreement and any other Award materials (“Data”) by and among, as applicable, the Employer(s), the Company and any member of the Company Group for the exclusive purpose of implementing, administering, and
managing his or her participation in the Plan. 
 (b) The Participant understands that the Company and the Employer(s) may hold
certain personal information about him or her, including, but not limited to, his or her name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of
stock or directorships held in the Company, details of all equity awards or any other entitlement to stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor, for the exclusive purpose of implementing, administering,
and managing the Plan. 
 (c) The Participant understands that Data will be transferred to one or more a stock plan service
provider(s) selected by the Company, which may assist the Company with the implementation, administration, and management of the Plan. The Participant understands that the recipients of the Data may be located in the United States or elsewhere, and
that the recipient’s country (e.g., the United States) may have different data privacy laws and protections than his or her country. The Participant understands that if he or she resides outside the United States, he or she may request a list
with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Participant authorizes the Company and any other possible recipients that may assist the Company (presently or in
the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing his or her participation in the
Plan. 
 (d) The Participant understands that Data will be held only as long as is necessary to implement, administer and manage his
or her participation in the Plan. The Participant understands that if he or she resides in certain jurisdictions outside the United States, to the extent required by Applicable Laws, he or she may, at any time, request access to Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents given by accepting this Option, in any case without cost, by contacting in writing his or her local human
resources representative. Further, the Participant understands that he or she is providing these consents on a purely voluntary basis. If the Participant does not consent or if he or she later seeks to revoke his or her consent, his or her
engagement as a Service Provider with the Employer(s) will not be adversely affected; the only consequence of refusing or withdrawing his or her consent is that the Company will not be able to grant him or her awards under the Plan or administer or
maintain awards. Therefore, the Participant understands that refusing or withdrawing his or her consent may affect his or her ability to participate in the Plan (including the right to retain this Option). The Participant understands that he or she
may contact his or her local human resources representative for more information on the consequences of his or her refusal to consent or withdrawal of consent. 

13. Miscellaneous 
 (a)
Address for Notices. Any notice to be given to the Company under the terms of this Agreement must be addressed to the Company at Cloudflare, Inc., 101 Townsend Street, San Francisco, CA 94107, until the Company designates another address in
writing. 

  
 - 8 - 

 (b) Non-Transferability of Option. This
Option may not be transferred other than by will or the laws of descent or distribution and may be exercised during the lifetime of the Participant only by him or her or his or her representative following a Disability. 

(c) Binding Agreement. If this Option is transferred, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors, and assigns of the parties to this Agreement. 
 (d) Additional Conditions to Issuance of
Stock. If the Company determines that the listing, registration, qualification, or rule compliance of the Common Stock on any securities exchange or under any state, federal, or foreign law or the tax code and related regulations or the consent
or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to the Participant (or his or her estate), the Company will try to meet the requirements of any such state, federal, or foreign
law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange, but the Shares will not be issued until such conditions have been met in a manner acceptable to the Company. 

(e) Captions. Captions provided in this Agreement are for convenience only and are not to serve as a basis for interpretation or
construction of this Agreement. 
 (f) Agreement Severable. If any provision of this Agreement is held invalid or unenforceable, that
provision will be severed from the remaining provisions of this Agreement and the invalidity or unenforceability will have no effect on the remainder of the Agreement. 

(g) Non-U.S. Appendix. This Option is subject to any special terms and conditions set forth in
any Appendix. If the Participant relocates to a country included in the Appendix, the special terms and conditions for that country will apply to him or her to the extent the Company determines that applying such terms and conditions is necessary or
advisable for legal or administrative reasons. 
 (h) Choice of Law; Choice of Forum. The Plan, this Agreement, this Option, and all
determinations made and actions taken under the Plan, to the extent not otherwise governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to principles of conflicts of law. For purposes
of litigating any dispute that arises under the Plan, the Participant’s acceptance of this Option is his or her consent to the jurisdiction of the State of Delaware and his or her agreement that any such litigation will be conducted in the
Delaware Court of Chancery or the federal courts for the United States for the District of Delaware and no other courts, regardless of where he or she is performing services. 

(i) Modifications to the Agreement. The Plan and this Agreement constitute the entire understanding of the parties on the subjects
covered. The Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only
in an express written contract executed by a duly authorized officer of the Company. The Company reserves the right to revise the Agreement as it deems necessary or advisable, in its sole discretion and without the consent of the Participant, to
comply with Code Section 409A, to otherwise avoid imposition of any additional tax or income recognition under Code Section 409A in connection with this Option, or to comply with other Applicable Laws. 

(j) Waiver. The Participant acknowledges that a waiver by the Company of a breach of any provision of this Agreement will not operate
or be construed as a waiver of any other provision of this Agreement or of any subsequent breach of this Agreement by him or her. 

  
 - 9 - 

 EXHIBIT B 

APPENDIX TO STOCK OPTION AGREEMENT 

Terms and Conditions 
 This Appendix to Stock
Option Agreement (the “Appendix”) includes additional terms and conditions that govern this Option granted to the Participant under the Plan if he or she resides in one of the countries listed below on the Grant Date or he or she
moves to one of the listed countries. 
 Notifications 

This Appendix may also include information regarding exchange controls and certain other issues of which the Participant should be aware with respect to
participation in the Plan. The information is based on the securities, exchange control, and other Applicable Laws in effect in the respective countries as of [Month] 2019. Such Applicable Laws are often complex and change frequently. As a result,
the Company strongly recommends that the Participant not rely on the information in this Appendix as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the
Participant sells Shares acquired under the Plan. 
 In addition, the information contained in this Appendix is general in nature and may not apply to the
Participant’s particular situation, and the Company is not in a position to assure him or her of a particular result. The Participant is advised to seek appropriate professional advice as to how the Applicable Laws in his or her country may
apply to his or her situation. 
 Finally, if the Participant is a citizen or resident of a country other than the one in which he or she is currently
working, transfers employment after this Option is granted, or is considered a resident of another country for local law purposes, the information in this Appendix may not apply to him or her, and the Administrator will determine to what extent the
terms and conditions in this Appendix apply. 
 Countries 

[Insert] 

 EXHIBIT C 

CLOUDFLARE, INC. 
 2019
EQUITY INCENTIVE PLAN 
 EXERCISE NOTICE 

Cloudflare, Inc. 
 101 Townsend Street 

San Francisco, CA 94107 
 Attention: Stock Administration 

 

			
	 Purchaser Name:
	 	 
		
	 Grant Date of Stock Option (the “Option”):
	 	 
		
	 Grant Number:
	 	 
		
	 Exercise Date:
	 	 
		
	 Number of Shares Exercised:
	 	 
		
	 Per Share Exercise Price:
	 	 
		
	 Total Exercise Price:
	 	 
		
	 Exercise Price Payment Method:
	 	 
		
	 Tax-Related Items Payment Method:
	 	 

 The information in the table above is incorporated in this Exercise Notice. 

1. Exercise of Option. Effective as of the Exercise Date, I elect to purchase the Number of Shares Exercised (“Exercised
Shares”) under the Stock Option Agreement for the Option (the “Agreement”) for the Total Exercise Price. Capitalized terms used but not defined in this Exercise Notice have the meanings given to them in the 2019
Equity Incentive Plan (the “Plan”) and/or the Agreement. 
 2. Delivery of Payment. With this Exercise Notice,
I am delivering the Total Exercise Price and any required Tax-Related Items to be paid in connection with the purchase of the Exercised Shares. I am paying my total purchase price by the Exercise Price Payment
Method and the Tax-Related Items by the Tax-Related Items Payment Method. 

3. Representations of Purchaser. I acknowledge that: 

(a) I have received, read, and understood the Plan and the Agreement and agree to be bound by their terms and conditions. 

(b) The exercise will not be completed until this Exercise Notice, Total Exercise Price, and all
Tax-Related Payments are received by the Company. 

 (c) I have no rights as a stockholder of the Company (including the right to vote and
receive dividends and distributions) on the Exercised Shares until the Exercised Shares have been issued and recorded on the records of the Company or its transfer agents or registrars. 

(d) No adjustment will be made for a dividend or other right for which the record date is before the date of issuance, except for adjustments
under Section 12 of the Plan. 
 (e) There may be adverse tax consequences to exercising the Option, and I am not relying on the
Company for tax advice and have had an opportunity to obtain the advice of personal tax, legal, and financial advisors prior to exercising. 

(f) The modification and choice of law provisions of the Agreement also govern this Exercise Notice. 

4. Entire Agreement; Choice of Law; Choice of Forum. The Plan and the Agreement are incorporated by reference. This Exercise Notice,
the Plan, and the Agreement are the entire agreement of the parties with respect to the Options and this exercise and supersede in their entirety all prior undertakings and agreements of the Company and Purchaser with respect to their subject
matter. The Plan, the Agreement, and this Exercise Notice, to the extent not otherwise governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to principles of conflicts of law. For
purposes of litigating any dispute that arises under the Plan (including without limitation under this Exercise Notice), the Participant consents to the jurisdiction of the State of Delaware and any such litigation being conducted in the Delaware
Court of Chancery or the federal courts for the United States for the District of Delaware and no other courts, regardless of where he or she is performing services. 
  

			
	 Submitted by:
  

PURCHASER

		
	   
	 	   

	Signature	 	
		
	Address: 	 	 
		
		 	 
		
		 	 

  
 - 2 - 

 CLOUDFLARE, INC. 

2019 EQUITY INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK UNIT AWARD AND RESTRICTED STOCK UNIT AGREEMENT 

Capitalized terms that are not defined in this Notice of Restricted Stock Unit Award and Restricted Stock Unit Agreement (the “Notice of
Grant”), the Terms and Conditions of Restricted Stock Unit Award, or any of the exhibits to these documents (all together, the “Agreement”) have the meanings given to them in the Cloudflare, Inc. 2019 Equity Incentive Plan
(the “Plan”). 
 The Participant has been granted this Restricted Stock Unit (“RSU”) award according to the terms below
and subject to the terms and conditions of the Plan and this Agreement, as follows: 
  

			
	 Participant 
	  	 
		
	 Participant I.D.
	  	 
		
	 Grant Number
	  	 
		
	 Grant Date
	  	 
		
	 Vesting Start Date
	  	 
		
	 Number of RSUs Granted
	  	 

 Vesting Schedule: 
 Unless
the vesting is accelerated, these RSUs will vest on the following schedule: 
 [insert vesting schedule] 

If the Participant ceases to be a Service Provider for any or no reason before he or she fully vests in these RSUs, the unvested RSUs will terminate according
to the terms of Section 5 of this Agreement. 
 The Participant’s signature below indicates that: 

 

	 	(i)	 He or she agrees that this Restricted Stock Unit award is granted under and governed by the terms and
conditions of the Plan and this Agreement, including their exhibits and appendices. 

  

	 	(ii)	 He or she understands that the Company is not providing any tax, legal, or financial advice and is not making
any recommendations regarding his or her participation in the Plan or his or her acquisition or sale of Shares. 

  

	 	(iii)	 He or she has reviewed the Plan and this Agreement, has had an opportunity to obtain the advice of personal
tax, legal, and financial advisors prior to signing this Agreement, and fully understands all provisions of the Plan and Agreement. He or she will consult with his or her own personal tax, legal, and financial advisors before taking any action
related to the Plan. 

  
 -1- 

	 	(iv)	 He or she has read and agrees to each provision of Section 10 of this Agreement. 

 

	 	(v)	 He or she will notify the Company of any change to the contact address below. 

 

			
	 PARTICIPANT

		
	   
	 	   

	Signature	 	
		
	Address: 	 	 
		
		 	 
		
		 	 

  
 -2- 

 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT AWARD 

1. Grant. The Company grants the Participant an award of RSUs as described in the Notice of Grant. If there is a conflict between the
Plan, this Agreement, or any other agreement with the Participant governing these RSUs, those documents will take precedence and prevail in the following order: (a) the Plan, (b) the Agreement, and (c) any other agreement between the
Company and the Participant governing these RSUs. 
 2. Company’s Obligation to Pay. Each RSU is a right to
receive a Share on the date it vests. Until an RSU vests, the Participant has no right to payment of the Share. Before a vested RSU is paid, the RSU is an unsecured obligation of the Company, payable (if at all) only from the Company’s general
assets. A vested RSU will be paid to the Participant (or in the event of his or her death, to his or her estate or such other person as specified in Section 6 below) in whole Shares as soon as practicable after vesting (but no later than 60
days following the vesting date), subject to him or her satisfying any obligations for Tax-Related Items (as defined in Section 7 of this Agreement) and any delay in payment required under Section 7
of this Agreement. The Participant cannot specify (directly or indirectly) the taxable year of the payment of any vested RSU under this Agreement. 

3. Vesting. These RSUs will vest only under the Vesting Schedule in the Notice of Grant, Section 4 of this Agreement, or
Section 13 of the Plan. RSUs scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest unless the Participant continues to be a Service Provider until the time such vesting is scheduled to occur. The
Administrator may modify the Vesting Schedule according to its authority under the Plan if the Participant takes a leave of absence or has a reduction in hours worked. 

4. Administrator Discretion. The Administrator has the discretion to accelerate the vesting of any RSUs at any time, subject to the
terms of the Plan. In that case, those RSUs will be vested as of the date specified by the Administrator. 
 5. Forfeiture upon
Termination of Status as a Service Provider. Upon the Participant’s termination as a Service Provider for any reason, these RSUs will immediately stop vesting and any of these RSUs that have not yet vested will be forfeited by the
Participant upon: (a) the 30th day following the Termination of Status Date (or any earlier date on or following the Termination of Status Date determined by the Administrator) if Participant’s termination as a Service Provider is due to
the Participant’s death or (b) the Termination of Status Date if Participant’s termination as a Service Provider is for any reason other than the Participant’s death, in all cases, subject to Applicable Laws. The date of the
Participant’s termination as a Service Provider is detailed in Section 3(c) of the Plan. 
 6. Death of Participant. Any
distribution or delivery to be made to the Participant under this Agreement will, if he or she is then deceased, be made to the administrator or executor of his or her estate or, if the Administrator permits, his or her designated beneficiary. Any
such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations that
apply to the transfer. 
 7. Tax Obligations. 

(a) Tax Withholding. 

(i) No Shares will be issued to the Participant until he or she makes satisfactory arrangements (as determined by the Administrator) for the
payment of income, employment, social insurance, National Insurance Contributions, payroll tax, fringe benefit tax, payment on account, or other tax-related items

  
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related to his or her participation in the Plan and legally applicable to him or her that the Administrator determines must be withheld
(“Tax-Related Items”), including those that result from the grant, vesting, or payment of these RSUs, the subsequent sale of Shares acquired pursuant to such payment, or the receipt of any
dividends. If the Participant is a non-U.S. employee, the method of payment of Tax-Related Items may be restricted by any Appendix (as defined below). If the
Participant fails to make satisfactory arrangements for the payment of any Tax-Related Items under this Agreement when any of these RSUs otherwise are supposed to vest or
Tax-Related Items related to RSUs otherwise are due, he or she will permanently forfeit the applicable RSUs and any right to receive Shares under such RSUs, and such RSUs will be returned to the Company at no
cost to the Company. 
 (ii) The Company has the right (but not the obligation) to satisfy any
Tax-Related Items by withholding from proceeds of a sale of Shares acquired upon payment of these RSUs arranged by the Company (on the Participant’s behalf pursuant to this authorization without further
consent). 
 (iii) The Company also has the right (but not the obligation) to satisfy any
Tax-Related Items by reducing the number of Shares otherwise deliverable to the Participant), and this will be the method by which such tax withholding obligations are satisfied until the Company determines
otherwise, subject to Applicable Laws. 
 (iv) Further, if the Participant is subject to taxation in more than one jurisdiction between the
Grant Date and the date of any relevant taxable or tax withholding event, the Company and/or any member of the Company Group for whom he or she is performing services (each, an “Employer”) or former Employer(s) may withhold or
account for tax in more than one jurisdiction. 
 (v) Regardless of any action of the Company or the Employer(s), the Participant
acknowledges that the ultimate liability for all Tax-Related Items is and remains his or her responsibility and may exceed the amount actually withheld by the Company or the Employer(s). The Participant
further acknowledges that the Company and the Employer(s) (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these RSUs and
(2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of these RSUs to reduce or eliminate his or her liability for Tax-Related Items or achieve any particular
tax result. 
 (b) Code Section 409A. This Section 7(b) does not apply if the Participant is not a
U.S. income taxpayer. 
 (i) If the vesting of any RSUs is accelerated in connection with a termination of the Participant’s
status as a Service Provider that is a “separation from service” within the meaning of Code Section 409A and (x) the Participant is a “specified employee” within the meaning of Code Section 409A at that time and
(y) the payment of such accelerated RSUs would result in the imposition of additional tax under Code Section 409A if paid to the Participant within the 6-month period following such termination, then
the accelerated RSUs will not be paid until the first day after the 6-month period ends. 
 (ii) If
the Participant’s status as a Service Provider terminates due to death or the Participant dies after he or she stops being a Service Provider, the delay under Section 7(b)(i) of this Agreement will not apply, and these RSUs will be paid in
Shares to the Participant’s estate (or such other person as specified in Section 6 above) as soon as practicable. 
 (iii) All
payments and benefits under this Agreement are intended to be exempt from Code Section 409A or comply with any requirements necessary to avoid the imposition of additional tax under Code Section 409A(a)(1)(B) so that none of these RSUs or
Shares issuable upon the vesting of RSUs will be subject to the additional tax imposed under Code Section 409A, and any ambiguities or ambiguous terms will be interpreted according to that intent. In no event will any member of the Company
Group have any obligation or liability to reimburse, indemnify, or hold harmless the Participant for any taxes imposed, or other costs incurred, as a result of Code Section 409A. 

  
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 (iv) Each payment under this Agreement is a separate payment under Treasury Regulations Section 1.409A-2(b)(2). 
 8. Forfeiture or Clawback. These RSUs (including any proceeds,
gains or other economic benefit received by the Participant from any subsequent sale of Shares issued upon payment of the RSUs) will be subject to any compensation recovery or clawback policy implemented by the Company before the date of this
Agreement and any policy referred to in Section 15(b) of the Plan. This includes any clawback policy adopted to comply with the requirements of Applicable Laws. 

9. Rights as Stockholder. The Participant’s rights as a stockholder of the Company (including the right to vote and to receive
dividends and distributions) will not begin until Shares have been issued and recorded on the records of the Company or its transfer agents or registrars. 

10. Acknowledgements and Agreements. The Participant’s signature on the Notice of Grant accepting these RSUs indicates that: 

(a) HE OR SHE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THESE RSUS IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AND THAT BEING HIRED OR
BEING GRANTED THESE RSUS WILL NOT RESULT IN VESTING. 
 (b) HE OR SHE FURTHER ACKNOWLEDGES AND AGREES THAT THESE RSUS AND THIS AGREEMENT DO
NOT CREATE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL AND DOES NOT INTERFERE IN ANY WAY WITH HIS OR HER RIGHT OR THE RIGHT OF THE EMPLOYER(S) TO TERMINATE HIS OR HER
RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 
 (c) The Participant agrees that this
Agreement and its incorporated documents reflect all agreements on its subject matters and that he or she is not accepting this Agreement based on any promises, representations, or inducements other than those reflected in the Agreement. 

(d) The Participant agrees that the Company’s delivery of any documents related to the Plan or these RSUs (including the Plan, the
Agreement, the Plan’s prospectus, and any reports of the Company provided generally to the Company’s stockholders) to him or her may be made by electronic delivery, which may include the delivery of a link to a Company intranet or to the
Internet site of a third party involved in administering the Plan, the delivery of the document via email, or any other means of electronic delivery specified by the Company. If the attempted electronic delivery of such documents fails, the
Participant will be provided with a paper copy of the documents. The Participant acknowledges that he or she may receive from the Company a paper copy of any documents that were delivered electronically at no cost to him or her by contacting the
Company by telephone or in writing. The Participant may revoke his or her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are to be delivered (if the Participant has provided an
electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic mail. Finally, the Participant understands that he or
she is not required to consent to electronic delivery of documents. 
 (e) The Participant may deliver any documents related to the Plan or
these RSUs to the Company by e-mail or any other means of electronic delivery approved by the Administrator, but he or she must provide the Company or any designated third party administrator with a paper copy
of any documents if his or her attempted electronic delivery of such documents fails. 

  
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 (f) The Participant accepts that all good faith decisions or interpretations of the
Administrator regarding the Plan and Awards under the Plan are binding, conclusive, and final. No member of the Administrator will be personally liable for any such decisions or interpretations. 

(g) The Participant agrees that the Plan is established voluntarily by the Company, is discretionary in nature, and may be amended, suspended,
or terminated by the Company at any time, to the extent permitted by the Plan. 
 (h) The Participant agrees that the grant of these RSUs is
voluntary and occasional and does not create any contractual or other right to receive future grants of restricted stock units or benefits in lieu of restricted stock units, even if restricted stock units have been granted in the past. 

(i) The Participant agrees that any decisions regarding future Awards will be in the Company’s sole discretion. 

(j) The Participant agrees that he or she is voluntarily participating in the Plan. 

(k) The Participant agrees that these RSUs and any Shares acquired under these RSUs are not intended to replace any pension rights or
compensation. 
 (l) The Participant agrees that these RSUs, any Shares acquired under these RSUs, and their income and value are not part
of normal or expected compensation for any purpose, including for calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments,
bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits, or similar payments. 
 (m) The Participant agrees
that the future value of the Shares underlying these RSUs is unknown, indeterminable, and cannot be predicted with certainty. 
 (n) The
Participant agrees that, for purposes of these RSUs, his or her engagement as a Service Provider is terminated as of the Termination of Status Date (regardless of the reason for such termination and whether or not the termination is later found to
be invalid or in breach of employment laws in the jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any), unless otherwise expressly provided in this Agreement or determined by the Administrator.

 (o) The Participant agrees that any right to vest in these RSUs will be extended by any notice period (e.g., the period that he or she is
a Service Provider would include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws (including common law, if applicable) in the jurisdiction where he or she is a Service Provider
or by his or her service agreement or employment agreement, if any) and the Termination of Status Date will not occur until the end of such period, unless otherwise expressly provided in this Agreement or determined by the Administrator or required
by Applicable Law. 
 (p) The Participant agrees that the Administrator has the exclusive discretion to determine when he or she is no
longer actively providing services for purposes of these RSUs (including whether he or she is still considered to be providing services while on a leave of absence). 

(q) The Participant agrees that no member of the Company Group is liable for any foreign exchange rate fluctuation between the
Participant’s local currency and the United States Dollar that may affect the value of these RSUs or of any amounts due to him or her from the payment of these RSUs or the subsequent sale of any Shares acquired upon such payment. 

  
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 (r) The Participant has read and agrees to the Data Privacy provisions of Section 11 of
this Agreement. 
 (s) The Participant agrees that he or she has no claim or entitlement to compensation or damages from any forfeiture of
these RSUs resulting from the termination of his or her status as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where he or she is a Service Provider or
the terms of his or her service agreement, if any), and in consideration of the grant of these RSUs to which he or she is otherwise not entitled, he or she irrevocably agrees never to institute any claim against the Company or any member of the
Company Group, waives his or her ability (if any) to bring any such claim, and releases the Company and all members of the Company Group from any such claim. If any such claim is nevertheless allowed by a court of competent jurisdiction, then the
Participant’s participation in the Plan constitutes his or her irrevocable agreement to not pursue such claim and to execute any and all documents necessary to request dismissal or withdrawal of such claim. 

11. Data Privacy. 

(a) The Participant voluntarily consents to the collection, use and transfer, in electronic or other form, of his or her personal data as
described in this Agreement and any other Award materials (“Data”) by and among, as applicable, the Employer(s), the Company and any member of the Company Group for the exclusive purpose of implementing, administering, and
managing his or her participation in the Plan. 
 (b) The Participant understands that the Company and the Employer(s) may hold
certain personal information about him or her, including, but not limited to, his or her name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of
stock or directorships held in the Company, details of all equity awards or any other entitlement to stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor, for the exclusive purpose of implementing, administering,
and managing the Plan. 
 (c) The Participant understands that Data will be transferred to one or more stock plan service provider(s)
selected by the Company, which may assist the Company with the implementation, administration, and management of the Plan. The Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the
recipient’s country (e.g., the United States) may have different data privacy laws and protections than his or her country. The Participant understands that if he or she resides outside the United States, he or she may request a list with the
names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Participant authorizes the Company and any other possible recipients that may assist the Company (presently or in the
future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing his or her participation in the
Plan. 
 (d) The Participant understands that Data will be held only as long as is necessary to implement, administer and manage his
or her participation in the Plan. The Participant understands that if he or she resides in certain jurisdictions outside the United States, to the extent required by Applicable Laws, he or she may, at any time, request access to Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents given by accepting these RSUs, in any case without cost, by contacting in writing his or her local human
resources representative. Further, the Participant understands that he or she is providing these consents on a purely voluntary basis. If the Participant does not consent or if he or she later seeks to revoke his or her consent, his or her
engagement as a Service Provider with the Employer(s) will not be adversely affected; the only consequence of refusing or withdrawing his 

  
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or her consent is that the Company will not be able to grant him or her awards under the Plan or administer or maintain awards. Therefore, the Participant understands that refusing or withdrawing
his or her consent may affect his or her ability to participate in the Plan (including the right to retain these RSUs). The Participant understands that he or she may contact his or her local human resources representative for more information on
the consequences of his or her refusal to consent or withdrawal of consent. 
 12. Miscellaneous. 

(a) Address for Notices. Any notice to be given to the Company under the terms of this Agreement must be addressed to the Company at
Cloudflare, Inc., 101 Townsend Street, San Francisco, CA 94107, until the Company designates another address in writing. 
 (b) Non-Transferability of RSUs. These RSUs may not be transferred other than by will or the laws of descent or distribution. 

(c) Binding Agreement. If any RSUs are transferred, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors, and assigns of the parties to this Agreement. 
 (d) Additional Conditions to Issuance of
Stock. If the Company determines that the listing, registration, qualification, or rule compliance of the Common Stock on any securities exchange or under any state, federal, or foreign law or the tax code and related regulations or the consent
or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to the Participant (or his or her estate), the Company will try to meet the requirements of any such state, federal, or foreign
law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange, but the Shares will not be issued until such conditions have been met in a manner acceptable to the Company. 

(e) Captions. Captions provided in this Agreement are for convenience only and are not to serve as a basis for interpretation or
construction of this Agreement. 
 (f) Agreement Severable. If any provision of this Agreement is held invalid or unenforceable, that
provision will be severed from the remaining provisions of this Agreement and the invalidity or unenforceability will have no effect on the remainder of the Agreement. 

(g) Non-U.S. Appendix. These RSUs are subject to any special terms and conditions set
forth in any appendix to this Agreement for the Participant’s country (the “Appendix”). If the Participant relocates to a country included in the Appendix, the special terms and conditions for that country will apply to him or
her to the extent the Company determines that applying such terms and conditions is necessary or advisable for legal or administrative reasons. 

(h) Choice of Law; Choice of Forum. The Plan, this Agreement, these RSUs, and all determinations made and actions taken under the Plan,
to the extent not otherwise governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to principles of conflicts of law. For purposes of litigating any dispute that arises under the Plan,
the Participant’s acceptance of these RSUs is his or her consent to the jurisdiction of the State of Delaware and his or her agreement that any such litigation will be conducted in the Delaware Court of Chancery or the federal courts for the
United States for the District of Delaware and no other courts, regardless of where he or she is performing services. 
 (i)
Modifications to the Agreement. The Plan and this Agreement constitute the entire understanding of the parties on the subjects covered. The Participant expressly warrants that he or she is not accepting this Agreement in reliance on any
promises, representations, or inducements other than those contained 

  
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herein. Modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. The Company reserves the right to revise
the Agreement as it deems necessary or advisable, in its sole discretion and without the consent of the Participant, to comply with Code Section 409A, to otherwise avoid imposition of any additional tax or income recognition under Code
Section 409A in connection with these RSUs, or to comply with other Applicable Laws. 
 (j) Waiver. The Participant acknowledges
that a waiver by the Company of a breach of any provision of this Agreement will not operate or be construed as a waiver of any other provision of this Agreement or of any subsequent breach of this Agreement by him or her. 

  
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 EXHIBIT B 

APPENDIX TO RESTRICTED STOCK UNIT AGREEMENT 

Terms and Conditions 
 This Appendix to Restricted
Stock Unit Agreement (the “Appendix”) includes additional terms and conditions that govern these RSUs granted to the Participant under the Plan if he or she resides in one of the countries listed below on the Grant Date or he or she
moves to one of the listed countries. 
 Notifications 

This Appendix may also include information regarding exchange controls and certain other issues of which the Participant should be aware with respect to
participation in the Plan. The information is based on the securities, exchange control, and other Applicable Laws in effect in the respective countries as of [Month] 2019. Such Applicable Laws are often complex and change frequently. As a result,
the Company strongly recommends that the Participant not rely on the information in this Appendix as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the
Participant sells Shares acquired under the Plan. 
 In addition, the information contained in this Appendix is general in nature and may not apply to the
Participant’s particular situation, and the Company is not in a position to assure him or her of a particular result. The Participant is advised to seek appropriate professional advice as to how the Applicable Laws in his or her country may
apply to his or her situation. 
 Finally, if the Participant is a citizen or resident of a country other than the one in which he or she is currently
working, transfers employment after these RSUs are granted, or is considered a resident of another country for local law purposes, the information in this Appendix may not apply to him or her, and the Administrator will determine to what extent the
terms and conditions in this Appendix apply. 
 Countries 

[Insert] 

 CLOUDFLARE, INC. 

2019 EQUITY INCENTIVE PLAN 

NOTICE OF RESTRICTED STOCK AWARD AND RESTRICTED STOCK AGREEMENT 

Capitalized terms that are not defined in this Notice of Restricted Stock Award and Restricted Stock Agreement (the “Notice of Grant”), the
Terms and Conditions of Restricted Stock Award, or any of the exhibits to these documents (all together, the “Agreement”) have the meanings given to them in the Cloudflare, Inc. 2019 Equity Incentive Plan (the
“Plan”). 
 The Participant has been granted this Restricted Stock award according to the terms below and subject to the terms and
conditions of the Plan and this Agreement, as follows: 
  

			
	Participant	  	  

		
	Participant I.D.	  	  

		
	Grant Number	  	  

		
	Grant Date	  	  

		
	Vesting Start Date	  	  

		
	Number of Shares Granted	  	  

 Vesting Schedule: 

Unless the vesting is accelerated, these Shares of Restricted Stock will vest on the following schedule: 

[insertn vesting schedule] 
 In addition to the
vesting terms set forth above for this award, the vesting of these Shares of Restricted Stock will be accelerated in accordance with any vesting acceleration provisions approved by the Administrator. If the Participant ceases to be a Service
Provider for any or no reason before he or she fully vests in these Shares of Restricted Stock, the unvested Shares of Restricted Stock will terminate according to the terms of Section 5 of this Agreement. 

The Participant’s signature below indicates that: 
  

	 	(i)	 He or she agrees that this Restricted Stock award is granted under and governed by the terms and conditions of
the Plan and this Agreement, including their exhibits and appendices. 

  

	 	(ii)	 He or she understands that the Company is not providing any tax, legal, or financial advice and is not making
any recommendations regarding his or her participation in the Plan or his or her acquisition or sale of Shares. 

  

	 	(iii)	 He or she has reviewed the Plan and this Agreement, has had an opportunity to obtain the advice of personal
tax, legal, and financial advisors prior to signing this Agreement, and fully understands all provisions of the Plan and Agreement. He or she will consult with his or her own personal tax, legal, and financial advisors before taking any action
related to the Plan. 

	 	(iv)	 He or she has read and agrees to each provision of Section 10 of this Agreement. 

 

	 	(v)	 He or she will notify the Company of any change to the contact address below. 

 

			
	PARTICIPANT
	
	  

	Signature
		
	Address:	 	 
		
		 	 
		
		 	 

  
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 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK AWARD 

1. Grant. The Company grants the Participant an award of Restricted Stock as described in the Notice of Grant. If there is a conflict
between the Plan, this Agreement, or any other agreement with the Participant governing these Shares of Restricted Stock, those documents will take precedence and prevail in the following order: (a) the Plan, (b) the Agreement, and
(c) any other agreement between the Company and the Participant governing these Shares of Restricted Stock. 
 2. Escrow of
Shares. 
 (a) Once the Participant signs this Agreement, all of these Shares of Restricted Stock will be delivered to an escrow holder
designated by the Company (the “Escrow Holder”) and will be held by the Escrow Holder until these Shares of Restricted Stock vest or the Participant ceases to be a Service Provider. 

(b) The Escrow Holder is not liable for any act it does or does not do for purposes of holding these Shares of Restricted Stock in escrow.

 (c) The Escrow Holder will transfer any vested Shares of Restricted Stock to the Participant at his or her request. 

(d) The Participant has no right to receive cash dividends on any unvested Shares of Restricted Stock that are held in escrow but has all
other rights of a stockholder for such Shares, including the right to vote. 
 (e) These Shares of Restricted Stock will be subject to any
adjustments made according to Section 13(a) of the Plan. 
 (f) The Company may instruct the transfer agent for the Common Stock to
record the restrictions on transfer in this Agreement by placing a legend on the certificates representing the Restricted Stock or otherwise noting its records. 

3. Vesting. These Shares of Restricted Stock will vest only under the Vesting Schedule in the Notice of Grant, Section 4 of this
Agreement, or Section 13 of the Plan. Shares of Restricted Stock scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest unless the Participant continues to be a Service Provider until the time such
vesting is scheduled to occur. The Administrator may modify the Vesting Schedule according to its authority under the Plan if the Participant takes a leave of absence or has a reduction in hours worked. 

4. Administrator Discretion. The Administrator has the discretion to accelerate the vesting of any number of unvested Shares of
Restricted Stock at any time, subject to the terms of the Plan. In that case, those Shares of Restricted Stock will be vested as of the date specified by the Administrator. 

5. Forfeiture upon Termination of Status as a Service Provider. Upon the Participant’s termination as a Service Provider for any
reason, these Shares of Restricted Stock will immediately stop vesting and any of these Shares of Restricted Stock that have not yet vested will be forfeited by the Participant and automatically transferred by the Escrow Holder to the Company at no
cost to the Company, subject to Applicable Laws upon: (a) the 30th day following the Termination of Status Date (or any earlier date on or following the Termination of Status Date determined by the Administrator) if Participant’s
termination as a Service Provider is due to the Participant’s death or (b) the Termination of Status Date if Participant’s termination as a Service Provider is for any reason other than the Participant’s death, in all cases,
subject to Applicable Laws. The Participant will not be 

  
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refunded any price paid for such Shares and will have no further rights under this Agreement. The Participant appoints the Escrow Holder with full power of substitution (as the Participant’s
true and lawful attorney-in-fact with irrevocable power and authority in the name and on behalf of the Participant) to take any action and execute all documents and
instruments, including stock powers necessary to transfer the certificate(s) evidencing such unvested Shares of Restricted Stock to the Company upon such termination. The date of the Participant’s termination as a Service Provider is detailed
in Section 3(c) of the Plan. 
 6. Death of Participant. Any distribution or delivery to be made to the Participant under this
Agreement will, if he or she is then deceased, be made to the administrator or executor of his or her estate or, if the Administrator permits, his or her designated beneficiary. Any such transferee must furnish the Company with (a) written
notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations that apply to the transfer. 

7. Tax Withholding. 
 (a)
No Shares of Restricted Stock may be released from escrow until the Participant makes satisfactory arrangements (as determined by the Administrator) for the payment of income, employment, social insurance, National Insurance Contributions, payroll
tax, fringe benefit tax, payment on account, or other tax-related items related to his or her participation in the Plan and legally applicable to him or her that the Administrator determines must be withheld
(“Tax-Related Items”), including those that result from the grant, vesting, or subsequent sale of Shares of Restricted Stock or the receipt of any dividends. If the Participant is a non-U.S. employee, the method of payment of Tax-Related Items may be restricted by any Appendix (as defined below). If the Participant fails to make satisfactory arrangements
for the payment of any Tax-Related Items under this Agreement when any of these Shares of Restricted Stock otherwise are supposed to vest or Tax-Related Items related to
these Shares of Restricted Stock otherwise are due, he or she will permanently forfeit the applicable Shares of Restricted Stock and such Shares of Restricted Stock will be returned to the Company at no cost to the Company. 

(b) The Company has the right (but not the obligation) to satisfy any Tax-Related Items by withholding
from proceeds of a sale of any of these Shares of Restricted Stock that have vested arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent). 

(c) The Company also has the right (but not the obligation) to satisfy any Tax-Related Items by
reducing the number of Shares otherwise deliverable to the Participant, and this will be the method by which such tax withholding obligations are satisfied until the Company determines otherwise, subject to Applicable Laws. 

(d) Further, if the Participant is subject to taxation in more than one jurisdiction between the Grant Date and the date of any relevant
taxable or tax withholding event, the Company and/or any member of the Company Group for whom he or she is performing services (each, an “Employer”) or former Employer(s) may withhold or account for tax in more than one
jurisdiction. 
 (e) Regardless of any action of the Company or the Employer(s), the Participant acknowledges that the ultimate liability
for all Tax-Related Items is and remains his or her responsibility and may exceed the amount actually withheld by the Company or the Employer(s). The Participant further acknowledges that the Company and the
Employer(s) (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of these Shares of Restricted Stock and (ii) do not commit to
and are under no obligation to structure the terms of the grant or any aspect of these Shares of Restricted Stock to reduce or eliminate his or her liability for Tax-Related Items or achieve any particular tax
result. 

  
 -4- 

 8. Forfeiture or Clawback. These Shares of Restricted Stock (including any proceeds,
gains or other economic benefit received by the Participant from their subsequent sale) will be subject to any compensation recovery or clawback policy implemented by the Company before the date of this Agreement and any policy referred to in
Section 15(b) of the Plan. This includes any clawback policy adopted to comply with the requirements of Applicable Laws. 
 9.
Rights as Stockholder. The Participant’s rights as a stockholder of the Company (including the right to vote and to receive dividends and distributions) will not begin until these Shares of Restricted Stock have been issued and recorded
on the records of the Company or its transfer agents or registrars. 
 10. Acknowledgements and Agreements. The Participant’s
signature on the Notice of Grant accepting these Shares of Restricted Stock indicates that: 
 (a) HE OR SHE ACKNOWLEDGES AND AGREES THAT
THE VESTING OF THE SHARES OF RESTRICTED STOCK IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AND THAT BEING HIRED OR BEING GRANTED THESE SHARES OF RESTRICTED STOCK DO NOT RESULT IN VESTING. 

(b) HE OR SHE FURTHER ACKNOWLEDGES AND AGREES THAT THESE SHARES OF RESTRICTED STOCK AND THIS AGREEMENT DO NOT CREATE AN EXPRESS OR IMPLIED
PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL AND DOES NOT INTERFERE IN ANY WAY WITH HIS OR HER RIGHT OR THE RIGHT OF THE EMPLOYER(S) TO TERMINATE HIS OR HER RELATIONSHIP AS A SERVICE
PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 
 (c) The Participant agrees that this Agreement and its
incorporated documents reflect all agreements on its subject matters and that he or she is not accepting this Agreement based on any promises, representations, or inducements other than those reflected in the Agreement. 

(d) The Participant agrees that the Company’s delivery of any documents related to the Plan or these Shares of Restricted Stock
(including the Plan, the Agreement, the Plan’s prospectus, and any reports of the Company provided generally to the Company’s stockholders) to him or her may be made by electronic delivery, which may include the delivery of a link to a
Company intranet or to the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail, or any other means of electronic delivery specified by the Company. If the
attempted electronic delivery of such documents fails, the Participant will be provided with a paper copy of the documents. The Participant acknowledges that he or she may receive from the Company a paper copy of any documents that were delivered
electronically at no cost to him or her by contacting the Company by telephone or in writing. The Participant may revoke his or her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are
to be delivered (if the Participant has provided an electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic
mail. Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents. 
 (e) The
Participant may deliver any documents related to the Plan or these Shares of Restricted Stock to the Company by e-mail or any other means of electronic delivery approved by the Administrator, but he or she
must provide the Company or any designated third party administrator with a paper copy of any documents if his or her attempted electronic delivery of such documents fails. 

(f) The Participant accepts that all good faith decisions or interpretations of the Administrator regarding the Plan and Awards under the Plan
are binding, conclusive, and final. No member of the Administrator will be personally liable for any such decisions or interpretations. 

  
 -5- 

 (g) The Participant agrees that the Plan is established voluntarily by the Company, is
discretionary in nature, and may be amended, suspended, or terminated by the Company at any time, to the extent permitted by the Plan. 

(h) The Participant agrees that the grant of these Shares of Restricted Stock is voluntary and occasional and does not create any contractual
or other right to receive future grants of restricted stock or benefits in lieu of restricted stock, even if restricted stock has been granted in the past. 

(i) The Participant agrees that any decisions regarding future Awards will be in the Company’s sole discretion. 

(j) The Participant agrees that he or she is voluntarily participating in the Plan. 

(k) The Participant agrees that these Shares of Restricted Stock are not intended to replace any pension rights or compensation. 

(l) The Participant agrees that these Shares of Restricted Stock and their income and value are not part of normal or expected compensation
for any purpose, including for calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, holiday pay, long-service
awards, pension or retirement or welfare benefits, or similar payments. 
 (m) The Participant agrees that the future value of these Shares
of Restricted Stock is unknown, indeterminable, and cannot be predicted with certainty. 
 (n) The Participant agrees that, for purposes of
these Shares of Restricted Stock , his or her engagement as a Service Provider is terminated as of the Termination of Status Date (regardless of the reason for such termination and whether or not the termination is later found to be invalid or in
breach of employment laws in the jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any), unless otherwise expressly provided in this Agreement or determined by the Administrator. 

(o) The Participant agrees that any right to vest in these Shares of Restricted Stock will be extended by any notice period (e.g., the period
that he or she is a Service Provider would include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws (including common law, if applicable) in the jurisdiction where he or she is
a Service Provider or by his or her service agreement or employment agreement, if any) and the Termination of Status Date will not occur until the end of such period, unless otherwise expressly provided in this Agreement or determined by the
Administrator or required by Applicable Law. 
 (p) The Participant agrees that the Administrator has the exclusive discretion to determine
when he or she is no longer actively providing services for purposes of these Shares of Restricted Stock (including whether he or she is still considered to be providing services while on a leave of absence). 

(q) The Participant agrees that no member of the Company Group is liable for any foreign exchange rate fluctuation between the
Participant’s local currency and the United States Dollar that may affect the value of these Shares of Restricted Stock or of any amounts due to him or her upon the sale of any of these Shares of Restricted Stock. 

(r) The Participant has read and agrees to the Data Privacy provisions of Section 11 of this Agreement. 

  
 -6- 

 (s) The Participant agrees that he or she has no claim or entitlement to compensation or
damages from any forfeiture of these Shares of Restricted Stock resulting from the termination of his or her status as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the
jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any), and in consideration of the grant of these Shares of Restricted Stock to which he or she is otherwise not entitled, he or she irrevocably
agrees never to institute any claim against the Company or any member of the Company Group, waives his or her ability (if any) to bring any such claim, and releases the Company and all members of the Company Group from any such claim. If any such
claim is nevertheless allowed by a court of competent jurisdiction, then the Participant’s participation in the Plan constitutes his or her irrevocable agreement to not pursue such claim and to execute any and all documents necessary to request
dismissal or withdrawal of such claim. 
 11. Data Privacy.  

(a) The Participant voluntarily consents to the collection, use and transfer, in electronic or other form, of his or her personal data as
described in this Agreement and any other Award materials (“Data”) by and among, as applicable, the Employer(s), the Company and any member of the Company Group for the exclusive purpose of implementing, administering, and
managing his or her participation in the Plan. 
 (b) The Participant understands that the Company and the Employer(s) may hold
certain personal information about him or her, including, but not limited to, his or her name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of
stock or directorships held in the Company, details of all equity awards or any other entitlement to stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor, for the exclusive purpose of implementing, administering,
and managing the Plan. 
 (c) The Participant understands that Data will be transferred to one or more stock plan service provider(s)
selected by the Company, which may assist the Company with the implementation, administration, and management of the Plan. The Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the
recipient’s country (e.g., the United States) may have different data privacy laws and protections than his or her country. The Participant understands that if he or she resides outside the United States, he or she may request a list with the
names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Participant authorizes the Company and any other possible recipients that may assist the Company (presently or in the
future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing his or her participation in the
Plan. 
 (d) The Participant understands that Data will be held only as long as is necessary to implement, administer and manage his
or her participation in the Plan. The Participant understands that if he or she resides in certain jurisdictions outside the United States, to the extent required by Applicable Laws, he or she may, at any time, request access to Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents given by accepting these Shares of Restricted Stock, in any case without cost, by contacting in writing his
or her local human resources representative. Further, the Participant understands that he or she is providing these consents on a purely voluntary basis. If the Participant does not consent or if he or she later seeks to revoke his or her consent,
his or her engagement as a Service Provider with the Employer(s) will not be adversely affected; the only consequence of refusing or withdrawing his or her consent is that the Company will not be able to grant him or her awards under the Plan or
administer or maintain awards. Therefore, the Participant understands that refusing or withdrawing his or her consent may affect his or her ability to participate in the Plan (including the right to retain these Shares of Restricted Stock). The
Participant understands that he or she may contact his or her local human resources representative for more information on the consequences of his or her refusal to consent or withdrawal of consent. 

  
 -7- 

 12. Miscellaneous. 

(a) Address for Notices. Any notice to be given to the Company under the terms of this Agreement must be addressed to the Company at
Cloudflare, Inc., 101 Townsend Street, San Francisco, CA 94107 until the Company designates another address in writing. 
 (b) Non-Transferability of Restricted Stock. These Shares of Restricted Stock may not be transferred other than by will or the laws of descent or distribution. 

(c) Binding Agreement. If any Shares of Restricted Stock are transferred, this Agreement will be binding upon and inure to the
benefit of the heirs, legatees, legal representatives, successors, and assigns of the parties to this Agreement. 
 (d) Additional
Conditions to Issuance of Stock and Release from Escrow. If the Company determines that the listing, registration, qualification, or rule compliance of the Common Stock on any securities exchange or under any state, federal, or foreign law or
the tax code and related regulations or the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of these Shares of Restricted Stock or their release from escrow to the Participant (or
his or her estate), the Company will try to meet the requirements of any such state, federal, or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange, but these
Shares of Restricted Stock will not be issued until such conditions have been met in a manner acceptable to the Company. 
 (e)
Captions. Captions provided in this Agreement are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

(f) Agreement Severable. If any provision of this Agreement is held invalid or unenforceable, that provision will be severed from the
remaining provisions of this Agreement and the invalidity or unenforceability will have no effect on the remainder of the Agreement. 
 (g)
Non-U.S. Appendix. These Shares of Restricted Stock are subject to any special terms and conditions set forth in any appendix to this Agreement for the Participant’s country (the
“Appendix”). If the Participant relocates to a country included in the Appendix, the special terms and conditions for that country will apply to him or her to the extent the Company determines that applying such terms and conditions
is necessary or advisable for legal or administrative reasons. 
 (h) Choice of Law; Choice of Forum. The Plan, this Agreement, these
Shares of Restricted Stock, and all determinations made and actions taken under the Plan, to the extent not otherwise governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to
principles of conflicts of law. For purposes of litigating any dispute that arises under the Plan, the Participant’s acceptance of these Shares of Restricted Stock is his or her consent to the jurisdiction of the State of Delaware and his or
her agreement that any such litigation will be conducted in the Delaware Court of Chancery or the federal courts for the United States for the District of Delaware and no other courts, regardless of where he or she is performing services. 

(i) Modifications to the Agreement. The Plan and this Agreement constitute the entire understanding of the parties on the subjects
covered. The Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained 

  
 -8- 

 
herein. Modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. The Company reserves the right to revise
the Agreement as it deems necessary or advisable, in its sole discretion and without the consent of the Participant, to comply with other Applicable Laws. 

(j) Waiver. The Participant acknowledges that a waiver by the Company of a breach of any provision of this Agreement will not operate
or be construed as a waiver of any other provision of this Agreement or of any subsequent breach of this Agreement by him or her. 

  
 -9- 

 EXHIBIT B 

APPENDIX TO RESTRICTED STOCK AGREEMENT 

Terms and Conditions 
 This Appendix to Restricted
Stock Agreement (the “Appendix”) includes additional terms and conditions that govern these Shares of Restricted Stock granted to the Participant under the Plan if he or she resides in one of the countries listed below on the Grant
Date or he or she moves to one of the listed countries. 
 Notifications 

This Appendix may also include information regarding exchange controls and certain other issues of which the Participant should be aware with respect to
participation in the Plan. The information is based on the securities, exchange control, and other Applicable Laws in effect in the respective countries as of [Month] 2019. Such Applicable Laws are often complex and change frequently. As a result,
the Company strongly recommends that the Participant not rely on the information in this Appendix as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the
Participant sells Shares acquired under the Plan. 
 In addition, the information contained in this Appendix is general in nature and may not apply to the
Participant’s particular situation, and the Company is not in a position to assure him or her of a particular result. The Participant is advised to seek appropriate professional advice as to how the Applicable Laws in his or her country may
apply to his or her situation. 
 Finally, if the Participant is a citizen or resident of a country other than the one in which he or she is currently
working, transfers employment after these Shares of Restricted Stock are granted, or is considered a resident of another country for local law purposes, the information in this Appendix may not apply to him or her, and the Administrator will
determine to what extent the terms and conditions in this Appendix apply. 
 Countries 

[Insert]EX-10.3

 Exhibit 10.3 

CLOUDFLARE, INC. 
 2019
EMPLOYEE STOCK PURCHASE PLAN 
 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated
Companies with an opportunity to purchase Common Stock through accumulated Contributions. The Company intends for the Plan to have two components: a component that is intended to qualify as an “employee stock purchase plan” under
Section 423 of the Code (the “423 Component”) and a component that is not intended to qualify as an “employee stock purchase plan” under Section 423 of the Code (the
“Non-423 Component”). The provisions of the 423 Component, accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with
the requirements of Section 423 of the Code. An option to purchase shares of Common Stock under the Non-423 Component will be granted pursuant to rules, procedures, or
sub-plans adopted by the Administrator designed to achieve tax, securities laws, or other objectives for Eligible Employees and the Company. Except as otherwise provided herein, the Non-423 Component will operate and be administered in the same manner as the 423 Component. 
 2.
Definitions. 
 (a) “Administrator” means the Board or any Committee designated by the Board to administer the Plan
pursuant to Section 14. 
 (b) “Affiliate” means any entity, other than a Subsidiary, in which the Company has an
equity or other ownership interest. 
 (c) “Applicable Laws” means the requirements relating to the administration of
equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction where options are, or will be, granted under the Plan. 
 (d) “Board” means the Board of Directors of the
Company. 
 (e) “Change in Control” means the occurrence of any of the following events: 

(i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however, that
for purposes of this subsection, the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control. Further,
if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership 

 
of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the
stock of the Company or of the ultimate parent entity of the Company, such event shall not be considered a Change in Control under this subsection (i). For this purpose, indirect beneficial ownership shall include, without limitation, an interest
resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or 

(ii) A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any
twelve (12)-month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (ii), if any Person is considered to be
in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

(iii) A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or
has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal to or more than
fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection, the following will not constitute a change
in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to:
(1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly
or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least fifty percent (50%) of
the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection, gross fair market value means the value of the assets of the Company, or the value of
the assets being disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this definition,
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase, or acquisition of stock, or similar business transaction with the Company. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control
event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final U.S. Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated
thereunder from time to time. 

  
 - 2 - 

 Further and for the avoidance of doubt, a transaction will not constitute a Change in
Control if: (i) its sole purpose is to change the jurisdiction of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held
the Company’s securities immediately before such transaction. 
 (f) “Code” means the U.S. Internal Revenue Code of
1986, as amended. Reference to a specific section of the Code will include such section, any valid regulation or other official applicable guidance promulgated under such section, and any comparable provision of any future legislation or regulation
amending, supplementing or superseding such section or regulation. 
 (g) “Committee” means a committee of the Board
appointed in accordance with Section 14 hereof. 
 (h) “Common Stock” means the Class A Common Stock of the
Company. 
 (i) “Company” means Cloudflare, Inc., a Delaware corporation, or any successor thereto.  

(j) “Compensation” includes an Eligible Employee’s base straight time gross earnings, but excludes payments for
incentive compensation, bonuses, commissions, payments for overtime and shift premium, equity compensation income and other similar compensation. The Administrator, in its discretion, may, on a uniform and nondiscriminatory basis, establish a
different definition of Compensation for a subsequent Offering Period. 
 (k) “Contributions” means the payroll deductions
and other additional payments that the Company may permit to be made by a Participant to fund the exercise of options granted pursuant to the Plan. 

(l) “Designated Company” means any Subsidiary or Affiliate that has been designated by the Administrator from time to time in
its sole discretion as eligible to participate in the Plan. For purposes of the 423 Component, only the Company and its Subsidiaries may be Designated Companies, provided, however that at any given time, a Subsidiary that is a Designated Company
under the 423 Component will not be a Designated Company under the Non-423 Component. 
 (m)
“Director” means a member of the Board. 
 (n) “Eligible Employee” means any individual who is a common
law employee providing services to the Company or a Designated Company and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer, or any lesser number of hours
per week and/or number of months in any calendar year established by the Administrator (if required under Applicable Laws) for purposes of any separate Offering or the Non-423 Component. For purposes of the
Plan, the employment relationship will be treated as continuing intact while the individual is on sick leave or other leave of absence that the Employer approves or is legally protected under Applicable Laws. Where the period of leave exceeds three
(3) months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have 

  
 - 3 - 

 
terminated three (3) months and one (1) day following the commencement of such leave. The Administrator, in its discretion, from time to time may, prior to an Enrollment Date for all
options to be granted on such Enrollment Date in an Offering, determine (for each Offering under the 423 Component on a uniform and nondiscriminatory basis or as otherwise permitted by Treasury Regulation
Section 1.423-2) that the definition of Eligible Employee will or will not include an individual if he or she: (i) has not completed at least two (2) years of service since his or her last hire
date (or such lesser period of time as may be determined by the Administrator in its discretion), (ii) customarily works not more than twenty (20) hours per week (or such lesser period of time as may be determined by the Administrator in its
discretion), (iii) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in its discretion), (iv) is a highly compensated employee within the meaning of
Section 414(q) of the Code, or (v) is a highly compensated employee within the meaning of Section 414(q) of the Code with compensation above a certain level or is an officer or subject to the disclosure requirements of
Section 16(a) of the Exchange Act, provided the exclusion is applied with respect to each Offering under the 423 Component in an identical manner to all highly compensated individuals of the Employer whose Eligible Employees are participating
in that Offering. Each exclusion will be applied with respect to an Offering under the 423 Component in a manner complying with U.S. Treasury Regulation Section 1.423-2(e)(2)(ii). Such exclusions may be
applied with respect to an Offering under the Non-423 Component without regard to the limitations of U.S. Treasury Regulation Section 1.423-2. 

(o) “Employer” means the employer of the applicable Eligible Employee(s). 

(p) “Enrollment Date” means the first Trading Day of an Offering Period. 

(q) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, including the rules and regulations
promulgated thereunder. 
 (r) “Exercise Date” means the last Trading Day of the Purchase Period. Notwithstanding the
foregoing, in the event that an Offering Period is terminated prior to its expiration pursuant to Section 20(a), the Administrator, in its sole discretion, may determine that any Purchase Period also terminating under such Offering Period will
terminate without options being exercised on the Exercise Date that otherwise would have occurred on the last Trading Day of such Purchase Period. 

(s) “Fair Market Value” means, as of any date, the value of a share of Common Stock determined as follows: 

(i) For purposes of the Enrollment Date of the first Offering Period under the Plan, the Fair Market Value will be the initial price to the
public as set forth in the final prospectus included within the Registration Statement. 
 (ii) For all other purposes, the Fair Market
Value will be the closing sales price for Common Stock as quoted on any established stock exchange or national market system (including without limitation the New York Stock Exchange, NASDAQ Global Select Market, the NASDAQ Global Market or the
NASDAQ Capital Market of The NASDAQ Stock Market) on which the Common Stock is listed on the date of determination (or the closing bid, if no sales were reported), as reported in The Wall Street Journal

  
 - 4 - 

 
or such other source as the Administrator deems reliable. If the determination date for the Fair Market Value occurs on a non-trading day (i.e., a weekend
or holiday), the Fair Market Value will be such price on the immediately preceding trading day, unless otherwise determined by the Administrator. In the absence of an established market for the Common Stock, the Fair Market Value thereof will be
determined in good faith by the Administrator. 
 The determination of fair market value for purposes of tax withholding may be made in the
Administrator’s discretion subject to Applicable Laws and is not required to be consistent with the determination of Fair Market Value for other purposes. 

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

(u) “New Exercise Date” means a new Exercise Date if the Administrator shortens any Offering Period then in progress. 

(v) “Offering” means an offer under the Plan of an option that may be exercised during an Offering Period as further
described in Section 4. For purposes of the Plan, the Administrator may designate separate Offerings under the Plan (the terms of which need not be identical) in which Eligible Employees of one or more Employers will participate, even if the
dates of the applicable Offering Periods of each such Offering are identical and the provisions of the Plan will separately apply to each Offering. To the extent permitted by U.S. Treasury Regulation
Section 1.423-2(a)(1), the terms of each Offering need not be identical provided that the terms of the Plan and an Offering together satisfy U.S. Treasury Regulation
Section 1.423-2(a)(2) and (a)(3). 
 (w) “Offering Periods” means the periods
of approximately six (6) months during which an option granted pursuant to the Plan may be exercised, commencing on the first Trading Day on or after May 15 and November 15 of each year and terminating on the last Trading Day on or
before May 15 and November 15, approximately six (6) months later; provided, however, that the first Offering Period under the Plan will commence with the first Trading Day on or after the date on which the Securities and Exchange
Commission declares the Company’s Registration Statement effective and will end on the last Trading Day on or before May 15, 2020, and provided, further, that the second Offering Period under the Plan will commence on the first Trading Day
on or after November 15, 2019. The duration and timing of Offering Periods may be changed pursuant to Sections 4, 19 and 20. 

(x) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of
the Code. 
 (y) “Participant” means an Eligible Employee that participates in the Plan. 

(z) “Plan” means this Cloudflare, Inc. 2019 Employee Stock Purchase Plan. 

(aa) “Purchase Period” means the approximately six (6) month period commencing after one Exercise Date and ending with
the next Exercise Date, except that the first Purchase Period of any Offering Period will commence on the Enrollment Date and end with the next Exercise Date. Unless the Administrator provides otherwise, the Purchase Period will have the same
duration and coincide with the length of the Offering Period. 

  
 - 5 - 

 (bb) “Purchase Price” means an amount equal to eighty-five percent (85%) of
the Fair Market Value on the Enrollment Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for subsequent Offering Periods by the Administrator subject to compliance with Section 423 of
the Code (or any successor rule or provision or any other Applicable Law, regulation or stock exchange rule) or pursuant to Section 20. 

(cc) “Registration Date” means the effective date of the Registration Statement. 

(dd) “Registration Statement” means the registration statement on Form S-1 filed with
the Securities and Exchange Commission for the initial public offering of the Common Stock. 
 (ee) “Subsidiary” means a
“subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code. 
 (ff)
“Trading Day” means a day on which the national stock exchange upon which the Common Stock is listed is open for trading. 

(gg) “U.S. Treasury Regulations” means the Treasury regulations of the Code. Reference to a specific Treasury Regulation will
include such Treasury Regulation, the section of the Code under which such regulation was promulgated, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such Section or regulation. 

3. Eligibility. 
 (a)
First Offering Period. Any individual who is an Eligible Employee immediately prior to the first Offering Period will be automatically enrolled in the first Offering Period. 

(b) Subsequent Offering Periods. Any Eligible Employee on a given Enrollment Date subsequent to the first Offering Period will be
eligible to participate in the Plan, subject to the requirements of Section 5. 
 (c)
Non-U.S. Employees. Eligible Employees who are citizens or residents of a non-U.S. jurisdiction (without regard to whether they also are citizens or residents of
the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from participation in the Plan or an Offering if the participation of such Eligible Employees is prohibited under the laws of the
applicable jurisdiction or if complying with the laws of the applicable jurisdiction would cause the Plan or an Offering to violate Section 423 of the Code. In the case of the Non-423 Component, Eligible
Employees may be excluded from participation in the Plan or an Offering if the Administrator determines that participation of such Eligible Employees is not advisable or practicable. 

  
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 (d) Limitations. Any provisions of the Plan to the contrary notwithstanding, no
Eligible Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to
Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or
value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of
the Code) of the Company or any Parent or Subsidiary of the Company accrues at a rate, which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each
calendar year in which such option is outstanding at any time, as determined in accordance with Section 423 of the Code and the regulations thereunder. 

4. Offering Periods. The Plan will be implemented by consecutive Offering Periods with a new Offering Period commencing on the first
Trading Day on or after May 15 and November 15 each year, or on such other dates as the Administrator will determine; provided, however, that the first Offering Period under the Plan will commence with the first Trading Day on or after the
Registration Date and end on the last Trading Day on or before May 15, 2020, and provided, further, that the second Offering Period under the Plan will commence on the first Trading Day on or after November 15, 2019. The Administrator
will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future Offerings without stockholder approval if such change is announced prior to the scheduled beginning of the first
Offering Period to be affected thereafter; provided, however, that no Offering Period may last more than twenty-seven (27) months. 

5. Participation. 
 (a)
First Offering Period. An Eligible Employee will be entitled to continue to participate in the first Offering Period pursuant to Section 3(a) only if such individual submits a subscription agreement authorizing Contributions in a form
determined by the Administrator (which may be similar to the form attached hereto as Exhibit A) to the Company’s designated plan administrator (i) no earlier than the effective date of the Form
S-8 registration statement with respect to the issuance of Common Stock under this Plan and (ii) no later than ten (10) business days following the effective date of such Form S-8 registration statement or such other date as the Administrator may determine (the “Enrollment Window”). An Eligible Employee’s failure to submit the subscription agreement during the Enrollment
Window will result in the automatic termination of such individual’s participation in the first Offering Period. 
 (b) Subsequent
Offering Periods. An Eligible Employee may participate in the Plan pursuant to Section 3(b) by (i) submitting to the Company’s stock administration office (or its designee) a properly completed subscription agreement authorizing
Contributions in the form provided by the Administrator for such purpose or (ii) following an electronic or other enrollment procedure determined by the Administrator, in either case on or before a date determined by the Administrator prior to
an applicable Enrollment Date. 

  
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 6. Contributions. 

(a) At the time a Participant enrolls in the Plan pursuant to Section 5, he or she will elect to have Contributions (in the form of
payroll deductions or otherwise, to the extent permitted by the Administrator) made on each pay day during the Offering Period in an amount not exceeding 10% of the Compensation that he or she receives on the pay day (for illustrative
purposes, should a pay day occur on an Exercise Date, a Participant will have any Contributions made on such day applied to his or her account under the then-current Purchase Period or Offering Period). The Administrator, in its sole discretion, may
permit all Participants in a specified Offering to contribute amounts to the Plan through payment by cash, check or other means set forth in the subscription agreement prior to each Exercise Date of each Purchase Period. A Participant’s
subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in Section 10 hereof. 
 (b)
In the event Contributions are made in the form of payroll deductions, such payroll deductions for a Participant will commence on the first pay day following the Enrollment Date and will end on the last pay day on or prior to the last Exercise Date
of such Offering Period to which such authorization is applicable, unless sooner terminated by the Participant as provided in Section 10 hereof; provided, however, that for the first Offering Period, payroll deductions will commence on the
first pay day on or following the end of the Enrollment Window. 
 (c) All Contributions made for a Participant will be credited to his or
her account under the Plan and Contributions will be made in whole percentages of his or her Compensation only. A Participant may not make any additional payments into such account. 

(d) A Participant may discontinue his or her participation in the Plan as provided under Section 10. Unless otherwise determined by the
Administrator, during a Purchase Period, a Participant may not increase the rate of his or her Contributions and may only decrease the rate of his or her Contributions one (1) time and such decrease must be to a Contribution rate of zero
percent (0%). Any such decrease during a Purchase Period requires the Participant (i) properly completing and submitting to the Company’s stock administration office (or its designee) a new subscription agreement authorizing the change in
Contribution rate in the form provided by the Administrator for such purpose or (ii) following an electronic or other procedure prescribed by the Administrator, in either case on or before a date determined by the Administrator prior to an
applicable Exercise Date. If a Participant has not followed such procedures to change the rate of Contributions, the rate of his or her Contributions will continue at the originally elected rate throughout the Purchase Period and future Offering
Periods and Purchase Periods (unless the Participant’s participation is terminated as provided in Sections 10 or 11). The Administrator may, in its sole discretion, amend the nature and/or number of Contribution rate changes that may be made by
Participants during any Offering Period or Purchase Period and may establish other conditions or limitations as it deems appropriate for Plan administration. Any change in the rate of Contributions made pursuant to this Section 6(d) will be
effective as of the first (1st) full payroll period following five (5) business days after the date on which the change is made by the Participant (unless the Administrator, in its sole
discretion, elects to process a given change in payroll deduction rate earlier). 

  
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 (e) Notwithstanding the foregoing, to the extent necessary to comply with
Section 423(b)(8) of the Code and Section 3(d), a Participant’s Contributions may be decreased to zero percent (0%) at any time during a Purchase Period. Subject to Section 423(b)(8) of the Code and Section 3(d) hereof,
Contributions will recommence at the rate originally elected by the Participant effective as of the beginning of the first Purchase Period scheduled to end in the following calendar year, unless terminated by the Participant as provided in
Section 10. 
 (f) Notwithstanding any provisions to the contrary in the Plan, the Administrator may allow Participants to participate
in the Plan via cash contributions instead of payroll deductions if (i) payroll deductions are not permitted under Applicable Law, (ii) the Administrator determines that cash contributions are permissible under Section 423 of the
Code; or (iii) the Participants are participating in the Non-423 Component. 
 (g) At the time
the option is exercised, in whole or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of (or any other time that a taxable event related to the Plan occurs), the Participant must make adequate provision for
the Company’s or Employer’s federal, state, local or any other tax liability payable to any authority including taxes imposed by jurisdictions outside of the U.S., national insurance, social security or other tax withholding obligations,
if any, which arise upon the exercise of the option or the disposition of the Common Stock (or any other time that a taxable event related to the Plan occurs). At any time, the Company or the Employer may, but will not be obligated to, withhold from
the Participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make available to the Company or the Employer any tax deductions or benefits
attributable to sale or early disposition of Common Stock by the Eligible Employee. In addition, the Company or the Employer may, but will not be obligated to, withhold from the proceeds of the sale of Common Stock or any other method of withholding
the Company or the Employer deems appropriate to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f). 

7. Grant of Option. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period will
be granted an option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such Eligible Employee’s Contributions accumulated prior to
such Exercise Date and retained in the Eligible Employee’s account as of the Exercise Date by the applicable Purchase Price; provided that in no event will an Eligible Employee be permitted to purchase during each Purchase Period more than
1,500 shares of Common Stock (subject to any adjustment pursuant to Section 19) and provided further that such purchase will be subject to the limitations set forth in Sections 3(d) and 13 and in the subscription agreement. The Eligible
Employee may accept the grant of such option (i) with respect to the first Offering Period by submitting a properly completed subscription agreement in accordance with the requirements of Section 5 on or before the last day of the
Enrollment Window, and (ii) with respect to any subsequent Offering Period under the Plan, by electing to participate in the Plan in accordance with the requirements of Section 5. The Administrator may, for future Offering Periods,
increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that an Eligible Employee may purchase during each Purchase Period. Exercise of the option will occur as provided in Section 8, unless the
Participant has withdrawn pursuant to Section 10. The option will expire on the last day of the Offering Period. 

  
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 8. Exercise of Option. 

(a) Unless a Participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common Stock
will be exercised automatically on each Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from his or her account. No
fractional shares of Common Stock will be purchased; any Contributions accumulated in a Participant’s account, which are not sufficient to purchase a full share will be retained in the Participant’s account for the subsequent Purchase
Period or Offering Period, as applicable, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds left over in a Participant’s account after the Exercise Date will be returned to the Participant. During
a Participant’s lifetime, a Participant’s option to purchase shares hereunder is exercisable only by him or her. 
 (b) If the
Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on
the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will
make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable
among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares of Common Stock available
for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on
such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20. The Company may make a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the
preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. 

9. Delivery. As soon as reasonably practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the
Company will arrange the delivery to each Participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to rules established by the Administrator. The Company
may permit or require that shares be deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may utilize electronic or automated methods of share transfer. The Company may require that
shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions of such shares. No Participant will have any voting, dividend, or other stockholder
rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the Participant as provided in this Section 9. 

  
 - 10 - 

 10. Withdrawal. 

(a) A Participant may withdraw all but not less than all the Contributions credited to his or her account and not yet used to exercise his or
her option under the Plan at any time by (i) submitting to the Company’s stock administration office (or its designee) a written notice of withdrawal in the form determined by the Administrator for such purpose (which may be similar to the
form attached hereto as Exhibit B), or (ii) following an electronic or other withdrawal procedure determined by the Administrator. The Administrator may set forth a deadline of when a withdrawal must occur to be effective prior to a
given Exercise Date in accordance with policies it may approve from time to time. All of the Participant’s Contributions credited to his or her account will be paid to such Participant promptly after receipt of notice of withdrawal and such
Participant’s option for the Offering Period will be automatically terminated, and no further Contributions for the purchase of shares will be made for such Offering Period. If a Participant withdraws from an Offering Period, Contributions will
not resume at the beginning of the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Section 5. 

(b) A Participant’s withdrawal from an Offering Period will not have any effect on his or her eligibility to participate in any similar
plan that may hereafter be adopted by the Company or in succeeding Offering Periods that commence after the termination of the Offering Period from which the Participant withdraws. 

11. Termination of Employment. Upon a Participant’s ceasing to be an Eligible Employee, for any reason, he or she will be deemed
to have elected to withdraw from the Plan and the Contributions credited to such Participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such Participant or, in the
case of his or her death, to the person or persons entitled thereto under Section 15, and such Participant’s option will be automatically terminated. Unless otherwise provided by the Administrator, a Participant whose employment transfers
between entities through a termination with an immediate rehire (with no break in service) by the Company or a Designated Company will not be treated as terminated under the Plan; however, if a Participant transfers from an Offering under the 423
Component to the Non-423 Component, the exercise of the option will be qualified under the 423 Component only to the extent it complies with Section 423 of the Code, unless otherwise provided by the
Administrator. 
 12. Interest. No interest will accrue on the Contributions of a participant in the Plan, except as may be required
by Applicable Law, as determined by the Company, and if so required by the laws of a particular jurisdiction, will apply to all Participants in the relevant Offering under the 423 Component, except to the extent otherwise permitted by U.S. Treasury
Regulation Section 1.423-2(f). 

  
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 13. Stock. 

(a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19 hereof, the maximum number of shares of
Common Stock that will be made available for sale under the Plan will be 5,870,000 shares of Common Stock. The number of shares of Common Stock available for issuance under the Plan will be increased on the first day of each Fiscal Year
beginning with the 2021 Fiscal Year equal to the least of (i) 5,870,000 shares of Common Stock, (ii) 1% of the outstanding shares of all classes of common stock of the Company on the last day of the immediately preceding Fiscal
Year, or (iii) a lesser number of shares of Common Stock determined by the Administrator no later than the last day of the immediately preceding Fiscal Year. 

(b) Until the shares of Common Stock are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), a Participant will have only the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares. 

(c) Shares of Common Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant or in the name of
the Participant and his or her spouse. 
 14. Administration. The Plan will be administered by the Board or a Committee appointed by
the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to delegate ministerial duties to any of
the Company’s employees, to designate separate Offerings under the Plan, to designate Subsidiaries and Affiliates as participating in the 423 Component or Non-423 Component, to determine eligibility, to
adjudicate all disputed claims filed under the Plan and to establish such procedures that it deems necessary for the administration of the Plan (including, without limitation, to adopt such procedures and
sub-plans as are necessary or appropriate to permit the participation in the Plan by employees who are foreign nationals or employed outside the U.S., the terms of which
sub-plans may take precedence over other provisions of this Plan, with the exception of Section 13(a) hereof, but unless otherwise superseded by the terms of such
sub-plan, the provisions of this Plan will govern the operation of such sub-plan). Unless otherwise determined by the Administrator, the Eligible Employees eligible to
participate in each sub-plan will participate in a separate Offering or in the Non-423 Component. Without limiting the generality of the foregoing, the Administrator is
specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Compensation, handling of Contributions, making of Contributions to the Plan (including, without limitation, in forms other than payroll
deductions), establishment of bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling
of stock certificates that vary with applicable local requirements. The Administrator also is authorized to determine that, to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f), the
terms of an option granted under the Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will be less favorable than the terms of options granted under the Plan or the same Offering to
employees resident solely in the U.S. Every finding, decision, and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. 

  
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 15. Designation of Beneficiary. 

(a) If permitted by the Administrator and subject to any applicable law, a Participant may file a designation of a beneficiary who is to
receive any shares of Common Stock and cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such
Participant of such shares and cash. In addition, if permitted by the Administrator and subject to any applicable law, a Participant may file a designation of a beneficiary who is to receive any cash from the Participant’s account under the
Plan in the event of such Participant’s death prior to exercise of the option. 
 (b) Such designation of beneficiary may be changed by
the Participant at any time by notice in a form determined by the Administrator. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company will deliver such shares and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion,
may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

(c) All beneficiary designations will be in such form and manner as the Administrator may designate from time to time. Notwithstanding
Sections 15(a) and (b) above, the Company and/or the Administrator may decide not to permit such designations by Participants in non-U.S. jurisdictions to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f). 
 16. Transferability. Neither Contributions credited to a
Participant’s account nor any rights with regard to the exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent
and distribution or as provided in Section 15 hereof) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds
from an Offering Period in accordance with Section 10 hereof. 
 17. Use of Funds. The Company may use all Contributions
received or held by it under the Plan for any corporate purpose, and the Company will not be obligated to segregate such Contributions except under Offerings or for Participants in the Non-423 Component for
which Applicable Laws require that Contributions to the Plan by Participants be segregated from the Company’s general corporate funds and/or deposited with an independent third party. Until shares of Common Stock are issued, Participants will
have only the rights of an unsecured creditor with respect to such shares. 
 18. Reports. Individual accounts will be maintained for
each Participant in the Plan. Statements of account will be given to participating Eligible Employees at least annually, which statements will set forth the amounts of Contributions, the Purchase Price, the number of shares of Common Stock purchased
and the remaining cash balance, if any. 

  
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 19. Adjustments, Dissolution, Liquidation, Merger, or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or
other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of
Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust the number and class of Common Stock that may be delivered under the Plan, the Purchase Price per share, the class, and the number of shares of
Common Stock covered by each option under the Plan that has not yet been exercised, and the numerical limits of Sections 7 and 13. 
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the
consummation of such proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each
Participant in writing or electronically, prior to the New Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on
the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10 hereof. 

(c) Merger or Change in Control. In the event of a merger or Change in Control, each outstanding option will be assumed or an
equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which
such option relates will be shortened by setting a New Exercise Date on which such Offering Period will end. The New Exercise Date will occur before the date of the Company’s proposed merger or Change in Control. The Administrator will notify
each Participant in writing or electronically prior to the New Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically
on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10 hereof. 

20. Amendment or Termination. 

(a) The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any reason.
If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be sooner
than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 19). If the Offering Periods
are terminated prior to expiration, all amounts then credited to Participants’ accounts that have not been used to purchase shares of Common Stock will be returned to the Participants (without interest thereon, except as otherwise required
under Applicable Laws, as further set forth in Section 12 hereof) as soon as administratively practicable. 

  
 - 14 - 

 (b) Without stockholder consent and without limiting Section 20(a), the Administrator
will be entitled to change the Offering Periods or Purchase Periods, designate separate Offerings, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts
withheld in a currency other than U.S. dollars, permit Contributions in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed Contribution elections,
establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with Contribution amounts, and establish such
other limitations or procedures as the Administrator determines in its sole discretion advisable that are consistent with the Plan. 
 (c)
In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify, amend or
terminate the Plan to reduce or eliminate such accounting consequence including, but not limited to: 
 (i) amending the Plan to conform
with the safe harbor definition under the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto), including with respect to an Offering Period underway at the time; 

(ii) altering the Purchase Price for any Offering Period or Purchase Period including an Offering Period or Purchase Period underway at the
time of the change in Purchase Price; 
 (iii) shortening any Offering Period or Purchase Period by setting a New Exercise Date, including
an Offering Period or Purchase Period underway at the time of the Administrator action; 
 (iv) reducing the maximum percentage of
Compensation a Participant may elect to set aside as Contributions; and 
 (v) reducing the maximum number of shares of Common Stock a
Participant may purchase during any Offering Period or Purchase Period. 
 Such modifications or amendments will not require stockholder approval or the
consent of any Participants. 
 21. Notices. All notices or other communications by a Participant to the Company under or in
connection with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

  
 - 15 - 

 22. Conditions Upon Issuance of Shares. Shares of Common Stock will not be issued
with respect to an option unless the exercise of such option and the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the U.S. Securities Act
of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with
respect to such compliance. 
 As a condition to the exercise of an option, the Company may require the person exercising such option to
represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation
is required by any of the aforementioned applicable provisions of law. 
 23. Code Section 409A. The 423 Component
of the Plan is exempt from the application of Code Section 409A and any ambiguities herein will be interpreted to so be exempt from Code Section 409A. In furtherance of the foregoing and notwithstanding any provision in the Plan to the
contrary, if the Administrator determines that an option granted under the Plan may be subject to Code Section 409A or that any provision in the Plan would cause an option under the Plan to be subject to Code Section 409A, the
Administrator may amend the terms of the Plan and/or of an outstanding option granted under the Plan, or take such other action the Administrator determines is necessary or appropriate, in each case, without the Participant’s consent, to exempt
any outstanding option or future option that may be granted under the Plan from or to allow any such options to comply with Code Section 409A, but only to the extent any such amendments or action by the Administrator would not violate Code
Section 409A. Notwithstanding the foregoing, the Company, and any Parent, Subsidiary or Affiliate will have no liability to a Participant or any other party if the option to purchase Common Stock under the Plan that is intended to be exempt
from or compliant with Code Section 409A is not so exempt or compliant or for any action taken by the Administrator with respect thereto. The Company makes no representation that the option to purchase Common Stock under the Plan is compliant
with Code Section 409A. 
 24. Term of Plan. The Plan will become effective upon the later to occur of (i) its adoption by
the Board or (ii) the business day immediately prior to the Registration Date. It will continue in effect for a term of twenty (20) years, unless sooner terminated under Section 20. 

25. Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months after
the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

26. Governing Law. The Plan will be governed by, and construed in accordance with, the laws of the State of California (except its choice-of-law provisions). 
 27. No Right to Employment.
Participation in the Plan by a Participant will not be construed as giving a Participant the right to be retained as an employee of the Company or a Subsidiary or Affiliate, as applicable. Further, the Company or a Subsidiary or Affiliate may
dismiss a Participant from employment at any time, free from any liability or any claim under the Plan. 

  
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 28. Severability. If any provision of the Plan is or becomes or is deemed to be
invalid, illegal, or unenforceable for any reason in any jurisdiction or as to any Participant, such invalidity, illegality or unenforceability will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as to such
jurisdiction or Participant as if the invalid, illegal or unenforceable provision had not been included. 
 29. Compliance with
Applicable Laws. The terms of this Plan are intended to comply with all Applicable Laws and will be construed accordingly. 

  
 - 17 - 

 EXHIBIT A 

CLOUDFLARE, INC. 
 2019
EMPLOYEE STOCK PURCHASE PLAN 
 GLOBAL SUBSCRIPTION AGREEMENT 

 

			
	             Original Application	  	Offering Date:                                 
	             Change in Payroll Deduction Rate	  	

 1. ____________________ (“Employee”) hereby elects to participate in the Cloudflare, Inc. 2019
Employee Stock Purchase Plan (the “Plan”) and subscribes to purchase shares of the Company’s Common Stock in accordance with this Global Subscription Agreement, including the attached Additional Terms and Conditions for Non-U.S. Participants and any country-specific terms and conditions set forth in the also attached Country-Specific Terms and Conditions (collectively, the “Subscription Agreement”), and the Plan. Unless
otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Subscription Agreement. 
 2. Employee
hereby authorizes payroll deductions from each paycheck in the amount of ____% (from 1 to 10%) of his or her Compensation on each payday during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are
permitted.) 
 3. Employee understands that said payroll deductions will be accumulated for the purchase of shares of Common Stock at the
applicable Purchase Price determined in accordance with the Plan. Employee understands that if he or she does not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise his or her option and
purchase Common Stock under the Plan. 
 4. Employee has received a copy of the complete Plan and its accompanying prospectus. Employee
understands that his or her participation in the Plan is in all respects subject to the terms of the Plan. 
 5. Unless Employee withdraws
from the Plan or becomes ineligible to participate in the Plan or unless the Plan is terminated by the Company, Employee will continue to participate in the Plan during subsequent Offering Periods and shares of Common Stock will be purchased on
Employee’s behalf with his or her accumulated payroll deductions on the applicable purchase date. Employee’s participation in the Plan will continue to be governed by this Subscription Agreement and the Plan. At its discretion and to the
extent permitted by the Plan, the Company may amend the Plan and/or this Subscription Agreement, and by continuing to participate in the Plan, and without the need to provide affirmative consent, Employee agrees to the terms and conditions of the
amended Plan and/or Subscription Agreement. 

 6. Shares of Common Stock purchased by Employee under the Plan should be issued in the
name(s) of _____________ (Employee or Employee and Spouse only). 
 7. The following provision is applicable only if Employee is subject to
tax in the United States. Employee understands that if he or she disposes of any shares that he or she purchased under the Plan within two (2) years after the Enrollment Date (the first day of the Offering Period during which he or she
purchased such shares) or one (1) year after the applicable Exercise Date, he or she will be treated for U.S. federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the
fair market value of the shares at the time such shares were purchased over the price paid for the shares. Employee hereby agrees to notify the Company in writing within thirty (30) days after the date of any disposition of
such shares and to make adequate provision for federal, state or other tax withholding obligations, if any, that arise upon the disposition of such shares. The Company may, but will not be obligated to, withhold from Employee’s compensation
the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to Employee’s sale or early disposition of such shares. Employee
understands that if he or she disposes of such shares at any time after the expiration of the two (2)-year and one (1)-year holding periods, he or she will be treated for U.S. federal income tax purposes as having received income only at the
time of such disposition, and that such income will be taxed as ordinary income only to the extent of an amount equal to the lesser of (i) the excess of the fair market value of the shares at the time of such disposition over the Purchase Price
paid for the shares, or (ii) fifteen percent (15%) of the fair market value of the shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 

8. Employee hereby agrees to hold any shares he or she acquires under the Plan with a broker designated by the Company until the day after the
1-year anniversary of the day such shares were purchased. Notwithstanding the foregoing in this Section 8, this 1-year hold requirement will lapse as of the date
Employee’s employment with the Company and any of its Parent, Subsidiaries and Affiliates terminates for any reason. 
 9. Employee
hereby agrees to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon Employee’s eligibility to participate in the Plan. 
  

			
	Employee’s Social Security Number (U.S. Employees Only):	  	 
	Employee ID Number (Non-U.S. Employees)	  	 
	Employee’s Address:	  	 

 SUBJECT TO SECTION 5 ABOVE, EMPLOYEE UNDERSTANDS THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE
OFFERING PERIODS UNLESS EMPLOYEE WITHDRAWS FROM THE PLAN OR CEASES TO BE AN ELIGIBLE EMPLOYEE FOR ANY REASON. 

  
 2 

			
	Signature:
		
	   
	 	   

		
	Date:	 	 

 IF EMPLOYEE RESIDES IN THE EUROPEAN UNION OR THE UNITED KINGDOM, EMPLOYEE UNDERSTANDS HE OR SHE NEEDS TO PROVIDE AN
ADDITIONAL SIGNATURE ON THE FOLLOWING PAGE TO ENROLL IN THE PLAN. 
 By providing an additional signature below, Employee declares that he or she
expressly agrees with the data processing practices described in Section 4 of the Additional Terms and Conditions for Non-U.S. Participants and consents to the collection, processing and use of Data by the Company and the transfer of Data to the
recipients mentioned in Section 4 of the Additional Terms and Conditions for Non-U.S. Participants, including recipients located in countries which do not provide an adequate level of protection from a European (or other non-U.S.) data protection
law perspective, for the purposes described in Section 4 of the Additional Terms and Conditions for Non-U.S. Participants. Employee understands that providing his or her signature below is a condition of participating in the Plan. Employee
understands that he or she may withdraw consent at any time with future effect for any or no reason as described in Section 4 of the Additional Terms and Conditions for Non-U.S. Participants. 

  
 3 

 ADDITIONAL TERMS AND CONDITIONS 

FOR NON-U.S. PARTICIPANTS 

Capitalized terms used but not defined in these Additional Terms and Conditions for Non-U.S. Participants shall
have the meanings set forth in the Plan and/or the Global Subscription Agreement. 
 1. Responsibility for Taxes. 

(a) Employee acknowledges that, regardless of any action taken by the Company or, if different, Employee’s employer (the
“Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to Employee’s participation in
the Plan and legally applicable to Employee (“Tax-Related Items”) is and remains Employee’s responsibility and may exceed the amount, if any, actually withheld by the Company or the Employer.
Employee further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Plan,
including, but not limited to, the grant of the option to purchase shares of Common Stock, the purchase of shares of Common Stock, the issuance or disposition of shares of Common Stock purchased under the Plan or the receipt of any dividends and
(ii) do not commit to and are under no obligation to structure the terms of the option or any aspect of the Plan to reduce or eliminate Employee’s liability for Tax-Related Items or achieve any
particular tax result. Further, if Employee is subject to Tax-Related Items in more than one jurisdiction, Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be
required to withhold or account for Tax-Related Items in more than one jurisdiction. 
 (b) Prior to
any relevant taxable or tax withholding event, as applicable, Employee agrees to make arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Employee
authorizes the Company and/or the Employer to satisfy any applicable withholding obligations with regard to any Tax-Related Items by one or a combination of the following: (i) withholding from
Employee’s wages or other cash compensation payable to Employee by the Company and/or the Employer, (ii) requiring Employee to make a cash payment; (iii) withholding from proceeds of the sale of shares of Common Stock under the Plan,
either through a voluntary sale or through a mandatory sale arranged by the Company (on Employee’s behalf pursuant to this authorization without further consent), (iv) withholding from shares of Common Stock otherwise issuable upon purchase, or
(v) any other method determined by the Company and compliant with applicable law, provided, however, that if Employee is an officer of the Company within the meaning of Section 16 of the Exchange Act, the obligation for Tax-Related Items will be satisfied only by one or a combination of methods (i), (ii), (iii) and (v) above.. 

  
 4 

 (c) The Company may withhold or account for
Tax-Related Items by considering statutory withholding amounts or other withholding rates, including maximum rates applicable in Employee’s jurisdiction(s), in which case Employee may receive a refund of
any over-withheld amount in cash and will have no entitlement to the equivalent in shares of Common Stock. If the obligation for Tax-Related Items is satisfied by withholding shares of Common Stock, for tax
purposes, Employee will be deemed to have been issued the full number of shares of Common Stock subject to the option, notwithstanding that a number of shares of Common Stock is held back solely for the purpose of satisfying the Tax-Related Items. 
 (d) Finally, Employee agrees to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Employee’s participation in the Plan that cannot be satisfied by the means previously described. The
Company may refuse to purchase or deliver the shares of Common Stock or the proceeds of the sale of shares of Common Stock if Employee fails to comply with his or her obligations in connection with the
Tax-Related Items. 
 2. Nature of Grant. By enrolling and participating in the Plan,
Employee acknowledges, understands and agrees that: 
 (a) the Plan is established voluntarily by the Company and is discretionary in
nature; 
 (b) the grant of the option to purchase shares of Common Stock is exceptional, voluntary and occasional and does not create any
contractual or other right to receive future options to purchase shares of Common Stock or benefits in lieu of options to purchase shares of Common Stock, even if options to purchase shares of Common Stock have been granted in the past; 

(c) all decisions with respect to future grants of options to purchase shares of Common Stock under the Plan or other grants, if any, will be
at the sole discretion of the Company; 
 (d) the option to purchase shares of Common Stock and Employee’s participation in the Plan
shall not create a right to employment or be interpreted as forming or amending an employment or service contract with the Company, the Employer or any Subsidiary or Affiliate and shall not interfere with the ability of the Employer to terminate
Employee’s employment relationship (if any); 
 (e) Employee is voluntarily participating in the Plan; 

(f) the option to purchase shares of Common Stock and any shares of Common Stock acquired under the Plan, and the income from and value of
same, are not intended to replace any pension rights or compensation; 
 (g) the option to purchase shares of Common Stock and any shares of
Common Stock acquired under the Plan, and the income from and value of same, are not part of normal or expected compensation or salary for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy,
dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, leave-related payments, pension or retirement or welfare benefits or similar mandatory
payments; 

  
 5 

 (h) unless otherwise agreed with the Company, the option to purchase shares of Common Stock
and the shares of Common Stock acquired under the Plan, and the income from and value of same, are not granted as consideration for, or in connection with, the service Employee may provide as a director of any Subsidiary or Affiliate; 

(i) the future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty; 

(j) the value of such shares of Common Stock purchased under the Plan may increase or decrease in the future, even below the Purchase Price;

 (k) no claim or entitlement to compensation or damages shall arise from forfeiture of the option to purchase shares of Common Stock
resulting from termination of Employee’s status as an Eligible Employee (regardless of the reason for the termination and whether or not the termination is later found to be invalid or in breach of employment laws in the jurisdiction where
Employee is employed or the terms of Employee’s employment agreement, if any); 
 (l) for purposes of participation in the Plan,
Employee’s status as an Eligible Employee will be considered terminated as of the date Employee is no longer actively providing services to the Company or any Designated Company (regardless of the reason for such termination and whether or not
later found to be invalid or in breach of labor laws in the jurisdiction where Employee is employed or the terms of Employee’s employment agreement, if any), and will not be extended by any notice period (e.g., Employee’s period of
service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Employee is employed or the terms of Employee’s employment agreement,
if any); the Administrator shall have the exclusive discretion to determine when Employee is no longer actively providing services for purposes of the Plan (including whether Employee may still be considered to be providing services
while on a leave of absence); and 
 (m) neither the Company, the Employer nor any other Subsidiary or Affiliate shall be liable for any
foreign exchange rate fluctuation between Employee’s local currency and the United States dollar that may affect the value of the shares of Common Stock or any amounts due pursuant to the purchase of the shares of Common Stock or the subsequent
sale of any shares of Common Stock purchased under the Plan. 
 3. No Advice Regarding Grant. The Company is not providing any
tax, legal or financial advice, nor is the Company making any recommendations regarding Employee’s participation in the Plan or the purchase or sale of the shares of Common Stock. Employee should consult his or her own personal tax, legal and
financial advisors regarding participation in the Plan before taking any action related to the Plan. 

  
 6 

 4. Data Protection. 

(a) Data Collection and Usage. The Company and the Employer collect, process and use certain personal
information about Employee, including, but not limited to, his or her name, home address, telephone number, email address, date of birth, social insurance number, passport or other identification number, salary, nationality, job title, any shares of
Common Stock or directorships held in the Company, details of all options granted under the Plan or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor (“Data”),
for the purposes of implementing, administering and managing Employee’s participation in the Plan. The legal basis, where required, for the processing of Data is Employee’s consent. 

(b) Stock Plan Administration Service Providers. The Company transfers Data to E*TRADE Financial Services
Corporation and certain of its affiliated companies (“E*TRADE”), an independent service provider based in the United States which is assisting the Company with the implementation, administration and management of the Plan. The Company may
select a different service provider or additional service providers and share Data with such other provider serving in a similar manner. Employee may be asked to agree on separate terms and data processing practices with the service provider, with
such agreement being a condition to the ability to participate in the Plan. 
 (c) International Data
Transfers. The Company and E*TRADE are based in the United States. Employee’s country or jurisdiction may have different data privacy laws and protections than the United States. For example, the European Union has issued a limited adequacy
finding with respect to the United States that applies only to the extent companies register for the EU-U.S. Privacy Shield program. The Company has certified under the
EU-U.S. Privacy Shield Program and relies on it for its transfer of Data from European Union countries to the U.S. Otherwise, the Company’s legal basis for the transfer of Data, where required, is
Employee’s consent. 
 (d) Data Retention. The Company will hold and use Data only as long as
is necessary to implement, administer and manage Employee’s participation in the Plan, or as required to comply with legal or regulatory obligations, including under tax, exchange control, labor and securities laws. This period may extend
beyond Employee’s period of employment. When the Company or the Employer no longer need Data for any of the above purposes, they will cease processing it in this context and remove it from all of their systems used for such purposes, to the
fullest extent possible. 

  
 7 

 (e) Voluntariness and Consequences of Consent, Denial or
Withdrawal. Participation in the Plan is voluntary and Employee is providing the consents herein on a purely voluntary basis. If Employee does not consent, or if he or she later seeks to revoke Employee’s consent, Employee’s salary
from or employment with the Employer will not be affected; the only consequence of refusing or withdrawing his or her consent is that the Company would not be able to grant Employee options to purchase Shares under the Plan or other equity awards or
administer or maintain such awards. 
 (f) Data Subject Rights. Employee may have a number of
rights under data privacy laws in his or her jurisdiction. Depending on where Employee is based, such rights may include the right to (i) request access to or copies of Data the Company processes, (ii) rectify incorrect Data,
(iii) delete Data, (iv) restrict the processing of Data, (v) restrict the portability of Data, (vi) lodge complaints with competent authorities in Employee’s jurisdiction, and/or (vii) receive a list with the names and
addresses of any potential recipients of Data. To receive clarification regarding these rights or to exercise these rights, Employee can contact his or her local human resources representative. 

(g) Alternate Basis and Additional Consents. Employee understands that, to the extent permitted by
applicable law, the Company may rely on a different legal basis for the collection, processing or transfer of Data in the future and/or request that Employee provide another data privacy consent. If applicable, upon request of the Company or the
Employer, Employee agrees to provide an executed data privacy consent form to the Company and/or the Employer (or any other agreements or consents that may be required by the Company and/or the Employer) that the Company and/or the Employer may deem
necessary to obtain from Employee for the purpose of administering his or her participation in the Plan in compliance with the applicable data privacy laws, either now or in the future. Employee understands and agrees that he or she will not be able
to participate in the Plan if Employee fails to provide any such consent or agreement requested by the Company and/or the Employer. 

5. Governing Law. This Subscription Agreement and the option to purchase shares of Common Stock under the Plan will be governed
by, and construed in accordance with, the laws of the State of California (except its choice-of-law provisions). 

6. Arbitration. Any dispute or claim concerning the option to purchase shares of Common Stock or Employee’s participation
in the Plan and any disputes or claims relating to or arising out of the Plan shall be fully, finally and exclusively resolved by binding and confidential arbitration conducted pursuant to the rules of Judicial Arbitration and Mediation Services,
Inc. (“JAMS”) in Santa Clara, California. The Company shall pay all arbitration fees. In addition to any other relief, the arbitrator may award to the prevailing party recovery of its attorneys’ fees and costs. By enrolling and
participating in the Plan, Employee and the Company waive their respective rights to have any such disputes or claims tried by a judge or jury. 

7. Language. Employee acknowledges that he or she is proficient in the English language, or has consulted with an advisor who is
sufficiently proficient in English, so as to allow Employee to understand the terms and conditions of this Subscription Agreement. If Employee has received this Subscription Agreement or any other document related to the option to purchase shares of
Common Stock or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

  
 8 

 8. Electronic Delivery and Participation. The Company may, in its sole
discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means. Employee hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an online
or electronic system established and maintained by the Company or a third party designated by the Company, now or in the future. 

9. Severability. The provisions of this Subscription Agreement are severable, and if any one or more provisions are determined
to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

10. Country-Specific Terms and Conditions. Employee’s participation in the Plan shall be subject to any special terms and
conditions set forth in the Country-Specific Terms and Conditions attached hereto for Employee’s country. Moreover, if Employee relocates to one of the countries included in the Country-Specific Terms and Conditions, the special terms and
conditions for such country will apply to Employee, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country-Specific Terms and Conditions
constitute part of this Subscription Agreement. 
 11. Imposition of Other Requirements. The Company reserves the right to
impose other requirements on Employee’s participation in the Plan and on any shares of Common Stock purchased under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require
Employee to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
 12. Waiver.
Employee acknowledges that a waiver by the Company of breach of any provision of this Subscription Agreement shall not operate or be construed as a waiver of any other provision of this Subscription Agreement, or of any subsequent breach by Employee
or any other Participant. 
 13. Insider Trading Restrictions / Market Abuse Laws. By enrolling and participating in the Plan,
Employee acknowledges that Employee is bound by all the terms and conditions of the Company’s insider trading policy as may be in effect from time to time. Further, Employee may be subject to insider trading restrictions and/or market abuse
laws in applicable jurisdictions, including, but not limited to, the United States and Employee’s country, the broker’s country, or the country in which the shares of Common Stock are listed (if different), which may affect his or her
ability to accept, acquire, sell or otherwise dispose of shares of Common Stock or rights to shares of Common Stock (e.g., the option to purchase shares of Common Stock under the Plan) or rights linked to the value of shares of Common Stock during
such times as Employee is considered to have “inside information” regarding the Company (as defined by the laws or regulations in applicable jurisdictions). Local insider trading laws and regulations may prohibit the cancellation or

  
 9 

 
amendment of orders Employee placed before possessing inside information. Furthermore, Employee could be prohibited from (i) disclosing the information to any third party, which may include
fellow employees and (ii) “tipping” third parties or causing them otherwise to buy or sell securities. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any
applicable Company insider trading policy. Employee acknowledges that it is his or her responsibility to comply with any applicable restrictions and that Employee should consult his or her personal advisor on this matter. 

14. Foreign Asset/Account, Exchange Control and Tax Requirements. Employee acknowledges that, depending on his or her country,
there may be certain foreign asset and/or account reporting requirements or exchange control restrictions which may affect Employee’s ability to acquire or hold shares of Common Stock or cash received from participating in the Plan (including
proceeds from the sale of shares of Common Stock and the receipt of any dividends paid on shares of Common Stock) in, to and/or from a brokerage or bank account or legal entity outside Employee’s country. Employee may be required to report such
accounts, assets or related transactions to the tax or other authorities in Employee’s country. Employee also may be required to repatriate sale proceeds or other funds received as a result of participating in the Plan to Employee’s
country through a designated bank or broker and/or within a certain time after receipt. Employee acknowledges that he or she is responsible for ensuring compliance with any applicable foreign asset/account, exchange control and tax reporting
requirements and should consult his or her personal legal and tax advisors on this matter. 

  
 10 

 COUNTRY-SPECIFIC TERMS AND CONDITIONS 

Capitalized terms used but not defined in these Country-Specific Terms and Conditions shall have the meanings set forth in the Plan, the Global
Subscription Agreement and/or the Additional Terms and Conditions for Non-U.S. Participants. 
 Terms and
Conditions 
 These Country-Specific Terms and Conditions include special terms and conditions that govern the option to purchase shares of Common
Stock under the Plan if Employee works in one of the countries listed below. If Employee is a citizen or resident of a country (or is considered as such for local law purposes) other than the one in which he or she is currently residing and/or
working or if Employee relocates to another country after enrolling in the Plan, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to Employee. 

These Country-Specific Terms and Conditions also include notifications relating to exchange control and other issues of which Employee should be aware with
respect to his or her participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the countries listed in this Country Addendum, as of August 2019. Such laws are often complex and change
frequently. As a result, the Company strongly recommends that Employee not rely on the notifications herein as the only source of information relating to the consequences of his or her participation in the Plan because the information may be
outdated when Employee purchases shares of Common Stock under the Plan or when Employee subsequently sells shares of Common Stock purchased under the Plan. 

In addition, the notifications are general in nature and may not apply to Employee’s particular situation, and the Company is not in a position to assure
Employee of any particular result. Accordingly, Employee should seek appropriate professional advice as to how the relevant laws in Employee’s country may apply to Employee’s situation. 

Finally, if Employee is a citizen or resident of a country (or is considered as such for local law purposes) other than the one in which Employee is
currently residing and/or working or if Employee relocates to another country after enrolling in the Plan, the information contained herein may not be applicable to Employee in the same manner. 

AUSTRALIA 
 Notifications 

Securities Law Information. If Employee acquires shares of Common Stock pursuant to the Plan and offers the shares of Common Stock for sale to a person
or entity resident in Australia, such offer may be subject to disclosure requirements under Australian law. Employee should obtain legal advice regarding Employee’s disclosure obligations prior to making any such offer. 

  
 11 

 Exchange Control Information. Exchange control reporting is required for cash transactions
exceeding AUD 10,000 and for international fund transfers. The Australian bank assisting with the transaction will file the report for Employee. If there is no Australian bank involved in the transfer, Employee may be required to file the report.

 Nature of Plan. The Plan is a plan to which Subdivision 83A-C of the Income Tax Assessment Act 1997 (Cth)
(the “Act”) applies (subject to the conditions in that Act). 
 GERMANY 

Notifications 
 Exchange Control Information.
German residents must report cross-border payments in excess of €12,500 on a monthly basis to the German Federal Bank (Bundesbank). In case of payments in connection with securities (including proceeds realized upon the sale of shares of
Common Stock), the report must be filed electronically by the 5th day of the month following the month in which the payment was received. The form of report (“Allgemeine Meldeportal Statistik”) can be accessed via the
Bundesbank’s website (www.bundesbank.de) and is available in both German and English. 
 Foreign Asset and Account Reporting
Information. German residents holding shares of Common Stock must notify their local tax office of the acquisition of shares of Common Stock when they file their tax returns for the relevant year if the aggregate value of all shares
of Common Stock acquired exceeds €150,000, or in the unlikely event that the resident holds shares of Common Stock exceeding 10% of the Company’s total Common Stock. 

PORTUGAL 
 Terms and Conditions 

Language Acknowledgement. Employee hereby expressly declares that he or she has full knowledge of the English language and Employee has read,
understood and fully accepts and agrees with the terms and conditions established in the Plan and the Subscription Agreement. 
 Conhecimento da
Língua. Empregado Contratado, pelo presente instrumento, declara expressamente que domina a língua inglesa e que leu, compreendeu e livremente aceitou e concordou com os termos e condições estabelecidos no Plano
e no Acordo de Subscrição (Subscription Agreement em inglés). 
 Notifications 

Exchange Control Information. If Employee is a resident of Portugal and he or she purchases shares of Common Stock, the acquisition of such shares of
Common Stock should be reported to the Banco de Portugal for statistical purposes. If the shares of Common Stock are deposited with a 

  
 12 

 
commercial bank or financial intermediary in Portugal, such bank or financial intermediary will submit the report to the Banco de Portugal. If the shares of Common Stock are not deposited with a
commercial bank, broker or financial intermediary in Portugal, Employee will be responsible for submitting the report to the Banco de Portugal. 

SINGAPORE 
 Terms and Conditions 

Restriction on Sale. Employee agrees that any shares of Common Stock acquired under the Plan will not be offered for sale in Singapore prior to the six-month anniversary of the beginning of the relevant Offering Period, unless such sale or offer is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the
Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”). 
 Notifications 

Securities Law Information. The option to purchase shares of Common Stock under the Plan is being made pursuant to the “Qualifying Person”
exemption under section 273(1)(f) of the SFA, under which it is exempt from the prospectus and registration requirements and is not made with a view to the underlying shares of Common Stock being subsequently offered for sale to any other party. The
Plan has not been and will not be lodged or registered as a prospectus with the Monetary Authority of Singapore. 
 Chief Executive Officer and Director
Notification Requirement. The Chief Executive Officer (“CEO”) and the directors of a Designated Company in Singapore are subject to certain notification requirements under the Singapore Companies Act. The CEO and directors must
notify the Designated Company in Singapore in writing of an interest (e.g., options to purchase shares of Common Stock, shares of Common Stock, etc.) in the Company or any related company within two business days of (i) its acquisition
or disposal, (ii) any change in a previously-disclosed interest (e.g., upon purchase of shares of Common Stock or when shares of Common Stock acquired under the Plan are subsequently sold), or (iii) becoming the CEO / a director.

 UNITED KINGDOM 
 Terms and Conditions

 Prospectus Exemption. The Company has prepared and made available an Information Document in reliance on an exemption from prospectus
requirements that may otherwise apply to the offer of the Plan in the U.K. The Information Document is available at [Insert Link] or in hard copy upon request to [Insert Contact]. 

  
 13 

 Responsibility for Taxes. The following provision supplements Section 1 of the Additional Terms
and Conditions for Non-U.S. Participants: 
 Without limitation to Section 1 of the Additional Terms and
Conditions for Non-U.S. Participants, Employee hereby agrees that he or she is liable for any Tax-Related Items and hereby covenants to pay such Tax-Related Items, as and when requested by the Company, the Employer or by Her Majesty’s Revenue & Customs (“HMRC”) (or any other tax authority or any other relevant
authority). Employee also hereby agrees to indemnify and keep indemnified the Company or the Employer against any Tax-Related Items that they are required to pay or withhold or have paid or will pay to
HMRC (or any other tax authority or any other relevant authority) on Employee’s behalf. 
 Notwithstanding the foregoing, if Employee is a director or
executive officer of the Company (within the meaning of Section 13(k) of the Exchange Act), the terms of the immediately foregoing provision may not apply if the indemnification is viewed as a loan. In such case, if the amount of any income tax
due is not collected from or paid by Employee within 90 days of the end of the U.K. tax year in which an event giving rise to the indemnification described above occurs, the amount of any uncollected income taxes may constitute a benefit to Employee
on which additional income tax and national insurance contributions (“NICs”) may be payable. Employee will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the
self-assessment regime and for paying to the Company or the Employer, as applicable, any employee NICs due on this additional benefit, which the Company or the Employer may recover from Employee by any of the means referred to in Section 1 of
the Additional Terms and Conditions for Non-U.S. Participants. 

  
 14 

 EXHIBIT B 

CLOUDFLARE, INC. 
 2019
EMPLOYEE STOCK PURCHASE PLAN 
 NOTICE OF WITHDRAWAL 

Unless otherwise defined herein, the terms defined in the 2019 Employee Stock Purchase Plan (the “Plan”) shall have the same defined meanings in
this Notice of Withdrawal. 
 The undersigned Participant in the Offering Period of the Plan that began on ____________, ______ (the “Offering
Date”) hereby notifies the Company that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to the undersigned as promptly as practicable all the payroll deductions credited to his or her account
with respect to such Offering Period. The undersigned understands and agrees that his or her option for such Offering Period will be terminated automatically. The undersigned understands further that no further payroll deductions will be made for
the purchase of shares in the current Offering Period and the undersigned will be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. 

 

			
	Name and Address of Participant:
	 
	 
	 
	
	Signature:
	
	   

	Date:	 	 

  
 15

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