Document:

EX-10.15

 Exhibit 10.15 

TAX RECEIVABLE AGREEMENT 

among 
 PURPOSE BUILT
BRANDS, INC., 
 THE HOLDERS IDENTIFIED HEREIN, 

CARLYLE PANAMERA HOLDINGS, L.P. 

and 
 TA XII-A, L.P. 
  

                       
                                         
                 
 Dated as of December 31,
2020 
  

                       
                                         
                 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.01
	 	Definitions	  	 	1	 
		
	 ARTICLE II DETERMINATION OF REALIZED TAX BENEFIT
	  	 	7	 
	 Section 2.01
	 	Basis Adjustment	  	 	7	 
	 Section 2.02
	 	Realized Tax Benefit and Realized Tax Detriment	  	 	7	 
	 Section 2.03
	 	Procedures; Amendments	  	 	7	 
		
	 ARTICLE III TAX BENEFIT PAYMENTS
	  	 	8	 
	 Section 3.01
	 	Payments	  	 	8	 
	 Section 3.02
	 	No Duplicative Payments	  	 	9	 
		
	 ARTICLE IV TERMINATION
	  	 	9	 
	 Section 4.01
	 	Termination	  	 	9	 
	 Section 4.02
	 	Early Termination Notice	  	 	10	 
	 Section 4.03
	 	Payment upon Early Termination	  	 	11	 
		
	 ARTICLE V TRANSFERS
	  	 	11	 
	 Section 5.01
	 	Generally	  	 	11	 
	 Section 5.02
	 	Drag-Along Right	  	 	11	 
		
	 ARTICLE VI SUBORDINATION AND LATE PAYMENTS
	  	 	12	 
	 Section 6.01
	 	Subordination	  	 	12	 
	 Section 6.02
	 	Late Payments by the Corporate Taxpayer	  	 	12	 
		
	 ARTICLE VII NO DISPUTES; CONSISTENCY; COOPERATION
	  	 	12	 
	 Section 7.01
	 	Participation in the Corporate Taxpayer’s Tax Matters	  	 	12	 
	 Section 7.02
	 	Tax Reporting and Consistency	  	 	12	 
	 Section 7.03
	 	Cooperation	  	 	13	 
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	13	 
	 Section 8.01
	 	Notices	  	 	13	 
	 Section 8.02
	 	Binding Effect: Benefit: Assignment	  	 	15	 
	 Section 8.03
	 	Resolution of Disputes	  	 	15	 
	 Section 8.04
	 	Counterparts	  	 	16	 
	 Section 8.05
	 	Entire Agreement	  	 	16	 
	 Section 8.06
	 	Severability	  	 	16	 
	 Section 8.07
	 	Amendment	  	 	16	 
	 Section 8.08
	 	Governing Law	  	 	16	 
	 Section 8.09
	 	Reconciliation	  	 	16	 
	 Section 8.10
	 	Withholding	  	 	17	 
	 Section 8.11
	 	Admission of the Corporate Taxpayer into a Consolidated Group: Transfers of Corporate Assets	  	 	17	 
	 Section 8.12
	 	Confidentiality	  	 	18	 
	 Section 8.13
	 	Appointment of Sponsors	  	 	18	 

			
	Exhibit A	  	Holders
	Exhibit B	  	Form of Joinder

  
 ii 

 TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (as amended from time to time, this “Agreement”) dated as of December 31, 2020, is hereby
entered into by and among PurposeBuilt Brands, Inc., a Delaware corporation (the “Corporate Taxpayer”), the persons identified as “Holders” on the signature pages hereto (each, a “Holder” and together, the
“Holders”), and Carlyle Panamera Holdings, L.P., a Delaware limited partnership and TA XII-A, L.P., a Delaware limited partnership (each a “Sponsor” and collectively the
“Sponsors”). 
 WHEREAS, the income, gain, loss, expense and other Tax (as defined below) items of the Corporate
Taxpayer may be affected by the Basis Adjustment (as defined below); 
 WHEREAS, the parties to this Agreement desire to make certain
arrangements with respect to the effect of the Basis Adjustment on the actual liability for Taxes of the Corporate Taxpayer. 
 NOW,
THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. 

(a) The following terms shall have the following meanings for the purposes of this Agreement: 

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or more
intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 
 “Agreed Rate” means
LIBOR plus 100 basis points. If LIBOR ceases to be published in accordance with the definition thereof, the Corporate Taxpayer and the Sponsors shall work together in good faith to select an Agreed Rate with similar characteristics that gives due
consideration to the prevailing market conventions for determining rates of interest in the United States at such time. 

“Bankruptcy Code” means Title 11 of the United States Code. 

“Basis Adjustments” means the increase or decrease to, or the Corporate Taxpayer’s share of, the tax basis of the
Original Assets under Sections 732, 734(b), 743(b), 754, 755, or 1012 of the Code (or in each case, any similar provisions of state or local tax law) as a result of the Historical Transactions. 

A “Beneficial Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, has or shares: (i) voting power, which includes the power to vote, or to direct the voting of, such security and/or (ii) investment power, which includes the power to dispose of or to direct the disposition of
such security. 
 “Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such
by the government of the United States of America or the State of New York shall not be regarded as a Business Day. 

 “Change of Control” means the occurrence of any of the following events:

 (i) any Person or any group of Persons acting together which would constitute a “group” for purposes of
Section 13(d) of the Securities and Exchange Act of 1934, or any successor provisions thereto, excluding a corporation or other entity owned, directly or indirectly, by the stockholders of the Corporate Taxpayer in substantially the same
proportions as their ownership of stock in the Corporate Taxpayer, is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer representing more than 50% of the combined voting power of the Corporate
Taxpayer’s then outstanding voting securities; or 
 (ii) there is consummated a merger or consolidation of the
Corporate Taxpayer with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, the voting securities of the Corporate Taxpayer immediately prior to such merger or consolidation do not continue
to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent
thereof; or 
 (iii) the shareholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the
Corporate Taxpayer or there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets, other
than such sale or other disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of
the Corporate Taxpayer in substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to such sale. 

Notwithstanding the foregoing, a “Change of Control” shall not, for the avoidance of doubt, be deemed to have occurred by
virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the Corporate Taxpayer immediately prior to such transaction or series of transactions continue to
have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of
transactions. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Corporate Taxpayer
Return” means the federal and/or state and/or local Tax Return, as applicable, of the Corporate Taxpayer filed with respect to Taxes of any Taxable Year. 

“Cumulative Net Realized Tax Benefit” for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable
Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year shall be determined based
on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination. 

  
 2 

 “Default Rate” means the Agreed Rate plus 400 basis points. 

“Determination” shall have the meaning ascribed to such term in Section 1313(a) of the Code or similar provision of
state and local tax law, as applicable, or any other event (including the execution of IRS Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax and shall also include the acquiescence of the Corporate Taxpayer
to the amount of any assessed liability for Tax. 
 “Early Termination Date” means the date of an Early Termination Notice
for purposes of determining the Early Termination Payment. 
 “Early Termination Rate” means LIBOR plus 200 basis points.
If LIBOR ceases to be published in accordance with the definition thereof, the Corporate Taxpayer and the Sponsors shall work together in good faith to select an Agreed Rate with similar characteristics that gives due consideration to the prevailing
market conventions for determining rates of interest in the United States at such time. 
 “Governmental Authority” means
foreign, federal, state, local or other governmental authority, regulatory body, court, tribunal, arbitral body, administrative agency, commission, stock exchange or listing authority, or other instrumentality thereof. 

“Historical Transactions” means: 

(i) the acquisition of Weiman Products, LLC, a Delaware limited liability company (“Weiman”), by CC Purchasing
Company, LLC, a Delaware limited liability company, pursuant to that Unit Purchase Agreement, dated as of November 7, 2013; 

(ii) the acquisition of the assets of The Homax Group, Inc., a Delaware corporation, by Weiman, pursuant to that Asset Purchase
Agreement, dated as of December 31, 2013; 
 (iii) the acquisition of Micro-Scientific Industries, Inc., an Illinois
corporation (“Micro-Scientific”), by Weiman, pursuant to that Stock Purchase Agreement, dated as of December 22, 2014; 

(iv) the acquisition of Urnex Holdings, LLC, a Delaware limited liability company, by Urnex Acquisition, LLC, a Delaware
limited liability company, pursuant to that Securities Purchase Agreement, dated as of April 16, 2015; 
 (v) the
acquisition of certain assets of Med-Sci, LLC, an Illinois limited liability company, by Micro-Scientific, pursuant to that Asset Purchase Agreement, dated as of April 30, 2016; 

(vi) the acquisition of Five Star Chemicals & Supply, LLC, a Colorado limited liability company, by Weiman, pursuant
to that Membership Interest Purchase Agreement, dated as of August 15, 2018; and 

  
 3 

 (vii) the acquisition of the assets of Eco Clean Solutions Inc., a New York
corporation, by GG Buyer, LLC, a Delaware limited liability company, pursuant to that Asset Purchase Agreement, dated as of February 10, 2020. 

“Holders” means the persons listed on Exhibit A, and each of the successors and assigns thereto. 

“Hypothetical Tax Liability” means, with respect to any Taxable Year, the liability for Taxes of the Corporate Taxpayer (or
the other members of the consolidated group of which the Corporate Taxpayer is the parent), using the same methods, elections, conventions and similar practices used on the relevant Corporate Taxpayer Return, but (i) using the Non-Stepped Up Tax Basis as reflected on the Basis Schedule, including amendments thereto for the Taxable Year, and (ii) without taking into account the carryover or carryback of any Tax item (or portions
thereof) that is attributable to or (without duplication) available for use because of the prior use of any of the Basis Adjustments. 

“IRS” means the U.S. Internal Revenue Service. 

“LIBOR” means during any period, an interest rate per annum equal to the one-year
LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page “LIBOR01” or by any other publicly available
source of such market rate) for London interbank offered rates for United States dollar deposits for such period. 
 “Management
Holder” means a Holder that is neither a Sponsor nor an Affiliate of a Sponsor. 

“Non-Stepped Up Tax Basis” means, with respect to any Original Asset at any time, the
Tax basis that such asset would have had at such time if no Basis Adjustments had been made. For the avoidance of doubt, an Original Asset with a tax basis determined under Section 1012 of the Code shall have a
Non-Stepped Up Tax Basis equal to zero. 
 “Original Assets” means the assets owned
by the Corporate Taxpayer and its Subsidiaries at the date hereof. An Original Asset also includes any asset that is “substituted basis property” under Section 7701(a)(42) of the Code with respect to an Original Asset. 

“Original Sponsor” means a Sponsor as of the date hereof, and shall not include any Person to whom a Sponsor transfers its
rights and obligations pursuant to this Agreement in accordance with Article V, except (i) to the extent otherwise agreed by each of the Sponsors in writing or (ii) to the extent such transferee is an Affiliate of the Original
Sponsor. 
 “Ownership Percentage” means the percentage set forth adjacent to the applicable Holder’s name on Exhibit
A; provided for the avoidance of doubt, that in the event a Holder transfers or assigns its rights pursuant to this Agreement, the applicable transferee Holder’s Ownership Percentage shall include the Ownership Percentage of the
transferor Holder. 
 “Payment Date” means any date on which a payment is required to be made pursuant to this Agreement.

 “Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust,
business association, organization, governmental entity or other entity. 

  
 4 

 “Realized Tax Benefit” means, for a Taxable Year, the excess, if any, of
the Hypothetical Tax Liability over the actual liability for Taxes of the Corporate Taxpayer (or the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year. If all or a portion of the actual
liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.

 “Realized Tax Detriment” means, for a Taxable Year, the excess, if any, of the actual liability for Taxes of the
Corporate Taxpayer (or the other members of the consolidated group of which the Corporate Taxpayer is the parent) for such Taxable Year, over the Hypothetical Tax Liability for such Taxable Year. If all or a portion of the actual liability for such
Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination. 

“Schedule” means any of the following: (i) the Basis Schedule, (ii) a Tax Benefit Schedule, or (iii) the Early
Termination Schedule. 
 “Sponsors” means (i) Carlyle Panamera Holdings, L.P. and (ii) TA XII-A, L.P., including, in each case, any Person to whom a Sponsor transfers its rights and obligations pursuant to this Agreement in accordance with Article V. 

“Subsidiaries” means, with respect to any Person, as of any date of determination, any other Person as to which such Person,
owns, directly or indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar interest of such Person. 

“Tax Return” means any return, declaration, report or similar statement required to be filed with respect to Taxes (including
any attached schedules), including any information return, claim for refund, amended return and declaration of estimated Tax. 

“Taxable Year” means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable
section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), beginning on or after January 1, 2021. 

“Taxes” means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured
with respect to net income or profits, and any interest related to such Tax. 
 “Taxing Authority” shall mean any domestic,
federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory
authority. 
 “Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated from
time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 

“Valuation Assumptions” shall mean, as of an Early Termination Date, the assumptions that: (1) in each Taxable Year
ending on or after such Early Termination Date, the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from the Basis Adjustments 

  
 5 

 
during such Taxable Year or future Taxable Years in which such deductions would become available; (2) the U.S. federal income tax rates and state and local income tax rates that will be in
effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date; (3) any loss carryovers generated by deductions arising from Basis Adjustments that are
available as of such Early Termination Date will be utilized by the Corporate Taxpayer on a pro rata basis from the Early Termination Date through the scheduled expiration date of such loss carryovers; and (4) any
non-amortizable assets will be disposed of on the fifteenth anniversary of the applicable Basis Adjustment; provided, that in the event of a Change of Control, such
non-amortizable assets shall, if applicable, be deemed disposed of at the time of sale of the relevant asset (if earlier than such fifteenth anniversary). 

(b) Each of the following terms is defined in the Section set forth opposite such term: 

 

			
	 Term
	  	 Section

	Agreement	  	Preamble
	Amended Schedule	  	Section 2.03(b)
	Basis Schedule	  	Section 2.01
	Corporate Taxpayer	  	Preamble
	Dispute	  	Section 8.03(a)
	Early Termination Effective Date	  	Section 4.02
	Early Termination Notice	  	Section 4.02
	Early Termination Payment	  	Section 4.03(b)
	Early Termination Schedule	  	Section 4.02
	e-mail	  	Section 8.01
	Expert	  	Section 8.09
	Interest Amount	  	Section 3.01(b)
	Material Objection Notice	  	Section 4.02
	Net Tax Benefit	  	Section 3.01(b)
	Objection Notice	  	Section 2.03(a)
	Reconciliation Dispute	  	Section 8.09
	Reconciliation Procedures	  	Section 2.03(a)
	Senior Obligations	  	Section 5.01
	Holders Representative	  	Preamble
	Tax Benefit Payment	  	Section 3.01(b)
	Third Party Sale	  	Section 5.02(a)
	Topco	  	Recitals
	Topco Dissolution	  	Recitals

 (c) Other Definitional and Interpretative Provisions. The words “hereof”, “herein”
and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for convenience of reference only and shall be
ignored in the construction or interpretation hereof References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified. Any singular term in this Agreement shall be deemed to include the plural, and any
plural term the singular. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in
feet followed by those words or words of like import. “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any
statute shall be deemed to refer to such statute as amended from time 

  
 6 

 
to time and to any rules or regulations promulgated thereunder. References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in
accordance with the terms hereof and thereof References to any Person include the successors and permitted assigns of that Person. References from or through any date mean, unless otherwise specified, from and including or through and including,
respectively. 
 ARTICLE II 

DETERMINATION OF REALIZED TAX BENEFIT 

Section 2.01 Basis Adjustment. No later than January 31, 2021, the Corporate Taxpayer shall deliver to the Sponsors a
schedule (the “Basis Schedule”) that shows, in reasonable detail, the information necessary to perform the calculations required by this Agreement, including estimates of (i) the Non-Stepped Up
Tax Basis of the Original Assets immediately prior to the date hereof, (ii) the Basis Adjustments with respect to the Original Assets, calculated in the aggregate, (iii) the period (or periods) over which the Original Assets are
amortizable and/or depreciable, and (iv) the period (or periods) over which such Basis Adjustments are amortizable and/or depreciable. 

Section 2.02 Realized Tax Benefit and Realized Tax Detriment. 

(a) Tax Benefit Schedule. Within 60 calendar days after the filing of the U.S. federal income tax return of the Corporate Taxpayer for
any Taxable Year, the Corporate Taxpayer shall provide to each of the Sponsors a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year (a “Tax Benefit
Schedule”). The Tax Benefit Schedule will become final as provided in Section 2.03(a) and may be amended as provided in Section 2.03(b) (subject to the procedures set forth in
Section 2.03(b)). 
 (b) Applicable Principles. The Realized Tax Benefit or Realized Tax Detriment for each
Taxable Year is intended to measure the decrease or increase in the actual liability for Taxes of the Corporate Taxpayer for such Taxable Year attributable to the Basis Adjustments, determined using a “with and without” methodology.
Carryovers or carrybacks of any Tax item attributable to the Basis Adjustment shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law,
as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any Tax item includes a portion that is attributable to the Basis Adjustment and another portion that is
not, such portions shall be considered to be used in accordance with the “with and without” methodology. 
 Section 2.03
Procedures; Amendments. 
 (a) Procedure. Every time the Corporate Taxpayer delivers to the Sponsors an applicable
Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section 2.03(b) and any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also
(x) deliver to each of the Sponsors schedules, valuation reports (if any), and work papers, as determined by the Corporate Taxpayer or requested by any Sponsor, providing reasonable detail regarding the preparation of the Schedule and
(y) allow the Sponsors reasonable access at no cost to the appropriate representatives at the Corporate Taxpayer, as determined by the Corporate Taxpayer or requested by the Sponsors, in connection with a review of such Schedule. Without
limiting the application of the preceding sentence, each time the Corporate Taxpayer delivers to the Sponsors a Tax Benefit Schedule, in addition to the Tax Benefit Schedule duly completed, the Corporate Taxpayer shall deliver to the Sponsors the
Corporate Taxpayer Return, the reasonably detailed calculation by the Corporate Taxpayer of the Hypothetical Tax Liability, the reasonably 

  
 7 

 
detailed calculation by the Corporate Taxpayer of the actual Tax liability, as well as any other work papers as determined by the Corporate Taxpayer or requested by the Sponsors. An applicable
Schedule or amendment thereto shall become final and binding on all parties 30 calendar days from the first date on which the Sponsors have received the applicable Schedule or amendment thereto unless (i) within 30 calendar days after receiving
an applicable Schedule or amendment thereto, either of the Sponsors provides the Corporate Taxpayer with notice of a material objection to such Schedule (“Objection Notice”) made in good faith or (ii) if both Sponsors provide a
written waiver of such right of any Objection Notice within the period described in clause (i) above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received by the Corporate Taxpayer. If the
Corporate Taxpayer and each of the Sponsors, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within 30 calendar days after receipt by the Corporate Taxpayer of an Objection Notice, the Corporate Taxpayer
and the Sponsors shall employ the reconciliation procedures as described in Section 8.09 (the “Reconciliation Procedures”). 

(b) Amended Schedule. The applicable Schedule for any Taxable Year may be amended from time to time by the Corporate Taxpayer
(i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was
provided to the Sponsors, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, (iv) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a
carryback or carry forward of a loss or other tax item to such Taxable Year, or (v) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable
Year (any such Schedule, an “Amended Schedule”). The Corporate Taxpayer shall provide an Amended Schedule to the Sponsors within 30 calendar days of the occurrence of an event referenced in clauses (i) through (v) of the
preceding sentence. 
 ARTICLE III 

TAX BENEFIT PAYMENTS 

Section 3.01 Payments. 

(a) Within five (5) Business Days after a Tax Benefit Schedule with respect to a Taxable Year becomes final in accordance with
Section 2.03(a), the Corporate Taxpayer shall pay to each Holder its share (based on such Holder’s Ownership Percentage) for such Taxable Year of the Tax Benefit Payment in the amount determined pursuant to
Section 3.01(b). Such portion of the Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by the applicable Holder to the Corporate Taxpayer or as
otherwise agreed by the Corporate Taxpayer and such Holder. For the avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated tax payments, including federal estimated income tax payments. 

(b) The “Tax Benefit Payment” means an amount, not less than zero, equal to the sum of the amount of the Net Tax Benefit and
the related Interest Amount. The “Net Tax Benefit” for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over the total amount of Tax
Benefit Payments previously made under this Section 3.01 (excluding payments attributable to Interest Amounts); provided, for the avoidance of doubt, that a Holder shall not be required to return any portion of any
previously made Tax Benefit Payment. The “Interest Amount” shall equal the interest on the amount of the Net Tax Benefit calculated at the Agreed Rate from the due date (without extensions) for filing the Corporate Taxpayer Return
with respect to Taxes for such Taxable Year until the Payment Date of the applicable Tax Benefit Payment. In connection with any Change of Control, all obligations 

  
 8 

 
hereunder with respect to the Holders shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such election and shall
include, but not be limited to, (1) the Early Termination Payment to the Holders calculated as if an Early Termination Notice had been delivered on the date of such election, (2) any Tax Benefit Payment agreed to by the Corporate Taxpayer
and the Sponsors as due and payable but unpaid as of the date of such election, and (3) any Tax Benefit Payment due for the Taxable Year ending with or including the date of such election; provided, that procedures similar to the
procedures of Section 4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence. Notwithstanding anything to the contrary in this Agreement, after any lump-sum payment under this Section 3.01(b) or Article IV in respect of present or future Tax attributes subject to this Agreement, the Tax Benefit Payment, Net Tax Benefit and
components thereof shall be calculated without taking into account any such attributes with respect to which a lump sum payment had been made or any such lump-sum payment. 

Section 3.02 No Duplicative Payments. It is intended that the provisions of this Agreement will not result in duplicative payment
of any amount (including interest) required under this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized. 

ARTICLE IV 
 TERMINATION

 Section 4.01 Termination. Early Termination and Breach of Agreement. 

(a) Unless terminated earlier pursuant to Section 4.01(b), Section 4.01(c), or
Section 4.01(d) this Agreement will terminate when there is no further potential for a Tax Benefit Payment pursuant to this Agreement. Tax Benefit Payments under this Agreement are not conditioned on any Holder retaining an
interest in the Corporate Taxpayer (or any successor thereto). 
 (b) The Corporate Taxpayer may terminate this Agreement with respect to the
Holders by paying to the Holders the Early Termination Payment; provided, however, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section 4.01(b) prior to the
time at which any Early Termination Payment has been paid. Upon payment of the Early Termination Payment to the Holders by the Corporate Taxpayer in accordance with this Section 4.01(b), neither the Holders nor the
Corporate Taxpayer shall have any further payment obligations under this Agreement, other than for any (1) Tax Benefit Payment agreed to by the Corporate Taxpayer and the Sponsors as due and payable but unpaid as of the Early Termination Notice
and (2) Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (2) is included in the Early Termination Payment). If the
Corporate Taxpayer terminates, or proposes to terminate this Agreement with respect to any Holder, then each Holder shall have the right to cause the Corporate Taxpayer to make an Early Termination Payment to it under this Agreement; provided that
the procedures of this Article IV shall apply to such Early Termination Payment as if the Corporate Taxpayer had delivered an Early Termination Notice to such Holder. 

(c) In the event that the Corporate Taxpayer breaches any of its material obligations under this Agreement, whether as a result of failure to
make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all obligations with
respect to the Holders hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such breach and shall 

  
 9 

 
include, but not be limited to, (1) the Early Termination Payment with respect to the Holders calculated as if an Early Termination Notice had been delivered on the date of a breach,
(2) any Tax Benefit Payment agreed to by the Corporate Taxpayer and the Sponsors as due and payable but unpaid as of the date of a breach, and (3) any Tax Benefit Payment due for the Taxable Year ending with or including the date of a
breach; provided that procedures similar to the procedures of Section 4.02 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence. Notwithstanding the
foregoing, in the event that the Corporate Taxpayer breaches this Agreement, the Sponsors (on behalf of each Holder) shall be entitled to elect to receive the amounts set forth in clauses (1), (2) and (3) above or to seek specific performance
of the terms hereof. The parties agree that the failure to make any payment due pursuant to this Agreement within three months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all
purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three months of the date such payment is due. Notwithstanding
anything in this Agreement to the contrary, it shall not be a breach of this Agreement if the Corporate Taxpayer fails to make any payment due pursuant to this Agreement when due to the extent the Corporate Taxpayer has insufficient funds to make
such payment despite using reasonable best efforts to obtain funds to make such payment (including by causing Subsidiaries to distribute or lend funds for such payment and access any sources of available credit to fund such payment); provided
that the interest provisions of Section 6.02 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by existing credit
agreements to which the Corporate Taxpayer or its Subsidiaries is a party which limitations are effective as of the date of this Agreement, in which case Section 6.02 shall apply, but the Default Rate shall be replaced by
the Agreed Rate); provided, further, that the Corporate Taxpayer shall promptly (and in any event, within two (2) Business Days), pay all such unpaid payments, together with accrued and unpaid interest thereon, immediately
following such time that the Corporate Taxpayer has, and to the extent the Corporate Taxpayer has, sufficient funds to make such payment, and the failure of the Corporate Taxpayer to do so shall constitute a breach of this Agreement. For the
avoidance of doubt, all cash and cash equivalents used or to be used to pay dividends by, or repurchase equity securities of the Corporate Taxpayer shall be deemed to be funds sufficient and available to pay such unpaid payments, together with any
accrued and unpaid interest thereon. 
 (d) Notwithstanding anything herein to the contrary, this Agreement may be terminated at the joint
written election of the Sponsors (the “Sponsor Termination Notice”). Following such termination, no amounts otherwise payable by the Corporate Taxpayer hereunder will be required to be paid to any Holder. 

Section 4.02 Early Termination Notice. If the Corporate Taxpayer chooses to exercise its right of early termination with respect to
the Holders under Section 4.01(b) above, the Corporate Taxpayer shall deliver to the Sponsors, on behalf of the Holders, notice of such intention to exercise such right (“Early Termination Notice”) and a
schedule (the “Early Termination Schedule”) specifying the Corporate Taxpayer’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for each of the Holders. The
Early Termination Schedule shall become final and binding on a Holder 30 calendar days from the first date on which the Sponsors has received such Schedule or amendment thereto unless (i) within 30 calendar days after receiving the Early
Termination Schedule, either of the Sponsors provides the Corporate Taxpayer with notice of a material objection to such Schedule made in good faith (“Material Objection Notice”) or (ii) if both of the Sponsors provide a
written waiver of such right of a Material Objection Notice within the period described in clause (i) above, in which case such Schedule becomes binding on the date the waiver is received by the Corporate Taxpayer (such 30 calendar day date as
modified, if at all, by clauses (i) or (ii), the “Early Termination Effective Date”). If the Corporate Taxpayer 

  
 10 

 
and each of the Sponsors, for any reason, are unable to successfully resolve the issues raised in such notice within 30 calendar days after receipt by the Corporate Taxpayer of the Material
Objection Notice, the Corporate Taxpayer and the Sponsors shall employ the Reconciliation Procedures. 
 Section 4.03 Payment upon
Early Termination. 
 (a) Within three Business Days after the Early Termination Effective Date, the Corporate Taxpayer shall pay to the
applicable Holder an amount equal to the Early Termination Payment with respect to such Holder. Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by the applicable Holder or as
otherwise agreed by the Corporate Taxpayer and such Holder. 
 (b) “Early Termination Payment”, with respect to a Holder,
shall equal the present value, discounted at the Early Termination Rate as of the Early Termination Effective Date, of all Tax Benefit Payments that would be required to be paid by the Corporate Taxpayer to such Holder beginning from the Early
Termination Date and assuming that the Valuation Assumptions are applied. 
 ARTICLE V 

TRANSFERS 

Section 5.01 Generally. Subject to Section 5.02(b) and Section 8.02(b) of this
Agreement, a Holder may, directly or indirectly, sell, assign or transfer its rights hereunder (including, without limitation, such Holder’s share (based on such Holder’s Ownership Percentage) of the Tax Benefit Payments payable pursuant
to this Agreement) to a third party; provided that in the event any Original Sponsor remains a party to this Agreement at the time of a proposed transfer by a Management Holder, such Management Holder shall be required to obtain the prior
written consent of any such Original Sponsor prior to such sale, assignment or transfer. In the event of a proposed transfer pursuant to this Section 5.01, the transferring Holder shall give the Corporate Taxpayer and any
Sponsors who are Original Sponsors notice of any such transfer, which notice shall include the name of the ultimate transferee not less than ten (10) Business Days prior to the effective time of such transfer. Upon the consummation of such
transfer, Exhibit A shall be updated to reflect the transferee Holder and such Holder’s Ownership Percentage. 
 Section 5.02
Drag-Along Right. 
 (a) In the event that either of the Original Sponsors propose to sell, assign or transfer their respective
rights and obligations under this Agreement to a third party (a “Third Party Sale”), then, upon written notice of such proposed sale, assignment or transfer being provided by the applicable Original Sponsor, each Holder hereby
agrees: 
 (i) To execute and deliver all related documentation and take such other action in support of a Third Party Sale
as shall reasonably be requested by the Corporate Taxpayer and the applicable Original Sponsor in order to consummate the Third Party Sale; 

(ii) Solely in the case of a Management Holder, to execute and deliver instruments of conveyance and transfer of such
Management Holder’s rights hereunder pursuant to such Third Party Sale to the extent so requested by such Original Sponsor; and 

  
 11 

 (iii) Not to otherwise take any action that might delay, impede or otherwise
materially and adversely affect such Third Party Sale. 
 (b) The Original Sponsors, in exercising their rights under this
Section 5.02, shall have complete discretion over the terms and conditions of any Third Party Sale, including, without limitation, price, type of consideration and payment terms; provided, that the type of
consideration and payment terms applicable with respect to the sale of any Holder’s rights hereunder are identical and each Holder receives such Holder’s pro rata portion of the consideration paid in respect of the Third Party Sale based
on such Holder’s Ownership Percentage. 
 ARTICLE VI 

SUBORDINATION AND LATE PAYMENTS 

Section 6.01 Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or
Early Termination Payment required to be made by the Corporate Taxpayer to a Holder under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations
in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of the Corporate Taxpayer that are
not Senior Obligations. 
 Section 6.02 Late Payments by the Corporate Taxpayer. The amount of all or any portion of any Tax
Benefit Payment or Early Termination Payment not made to a Holder when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such Tax Benefit
Payment or Early Termination Payment was due and payable. 
 ARTICLE VII 

NO DISPUTES; CONSISTENCY; COOPERATION 

Section 7.01 Participation in the Corporate Taxpayer’s Tax Matters. Except as otherwise provided herein, the
Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and its Subsidiaries, including the preparation, filing or amending of any Tax Return and defending, contesting or
settling any issue pertaining to Taxes, subject to a requirement that the Corporate Taxpayer and its Subsidiaries act in good faith in connection with their control of any matter which is reasonably expected to affect any Holder’s rights and
obligations under this Agreement. Notwithstanding the foregoing, the Corporate Taxpayer shall notify each of the Sponsors of, and keep the Sponsors reasonably informed with respect to, the portion of any audit of the Corporate Taxpayer or any of its
Subsidiaries by a Taxing Authority the outcome of which is reasonably expected to affect the rights and obligations of the Holders under this Agreement, and shall provide to each of the Sponsors reasonable opportunity to participate in, or provide
information and other input to the Corporate Taxpayer, its Subsidiaries and their respective advisors concerning the conduct of, any such portion of such audit. 

Section 7.02 Tax Reporting and Consistency. 

(a) Each Holder, the Sponsors and the Corporate Taxpayer agree that by entering into this Agreement, each Holder is receiving a property
distribution in an amount equal to the fair market value of its rights under this Agreement, as jointly determined by the Corporate Taxpayer and the Sponsors, and that such property distribution is subject to Section 301 of the Code for U.S.
federal income tax purposes and any similar or comparable state law provision for state tax purposes. Each such party shall file all Tax Returns in accordance with such treatment described in the previous sentence, unless otherwise required by a
Determination. 

  
 12 

 (b) The Corporate Taxpayer and the Holders agree to report and cause to be reported for all
purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including the Basis Adjustments and each Tax Benefit Payment) in a manner consistent with that
specified in Section 7.02(a) and by the Corporate Taxpayer in any Schedule required to be provided by or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by law. Any dispute as to required
Tax or financial reporting shall be subject to Section 8.09. 
 Section 7.03 Cooperation. Each of the
Corporate Taxpayer and the Holders shall (a) furnish to the other party in a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making any determination or computation
necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b) make itself available to the other party and its representatives to provide
explanations of documents and materials and such other information as the other party or its representatives may reasonably request in connection with any of the matters described in clause (a) above, and (c) reasonably cooperate in
connection with any such matter, and the Corporate Taxpayer shall reimburse the Sponsors for any reasonable third-party costs and expenses incurred pursuant to this Section 7.03. 

ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including
facsimile transmission and email transmission, so long as a receipt of such e-mail is requested and received) and shall be given to such party as set forth below, or pursuant to such other instructions as may
be designated in writing by the party to receive such notice: 
 If to the Corporate Taxpayer, addressed to it at: 

PurposeBuilt Brands, Inc. 
 755 Tri-State Parkway 
 Gurnee, Illinois 60031 

Attention: #### 
 E-mail: #### 
 With copies (which shall not constitute notice) to: 

c/o The Carlyle Group 
 520
Madison Avenue 
 New York, NY 10022 

Attention: #### 
 Facsimile No.:
#### 
 E-mail: #### 

  
 13 

 If to the Sponsors, addressed to it at: 

Carlyle Sponsor 
 c/o The
Carlyle Group 
 520 Madison Avenue 

New York, NY 10022 
 Attention:
#### 
 Facsimile No.: #### 
 E-mail: #### 
 With copies (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

200 Clarendon Street 
 Boston,
MA 02116 
 Attention: Armand A. Della Monica, P.C., Payson W. Lyman 

Facsimile No.: (617) 385-7501 

E-mail: armand.dellamonica@kirkland.com, payson.lyman@kirkland.com 

and 
 Kirkland & Ellis
LLP 
 601 Lexington Avenue 

New York, NY 10022 
 Attention:
Dvir Oren, P.C. 
 Facsimile No.: (212) 446-4900 

E-mail: dvir.oren@kirkland.com 

TA Sponsor 
 c/o TA
Associates Management, L.P. 
 John Hancock Tower, 56th Floor 

200 Clarendon Street 
 Boston,
MA 02116 
 Attention: #### 
 E-mail: #### 
 With copies (which shall not constitute notice) to: 

Goodwin Procter LLP 
 100
Northern Avenue 
 Boston, MA 02210 

Attention: Jon M. Herzog 
 E-mail: jherzog@goodwinlaw.com 
 All such notices, requests and other communications shall be deemed
received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding
Business Day in the place of receipt. 

  
 14 

 Section 8.02 Binding Effect: Benefit: Assignment. 

(a) The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and assigns. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns. The Corporate Taxpayer
shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree
to perform this Agreement in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place. 

(b) Subject to the requirements of Section 5.01, a Holder may assign any of its rights under this Agreement to any Person as long as such
transferee has executed and delivered, or, in connection with such transfer, executes and delivers, a joinder to this Agreement, in form of Exhibit B, agreeing to become a “Holder” for all purposes of this Agreement, except as otherwise
provided in such joinder; provided, that a Holder’s rights under this Agreement shall be assignable by such Holder under the procedure in this Section 8.02(b) regardless of whether such Holder continues to hold
any interests in the Corporate Taxpayer or has fully transferred any such interests. 
 Section 8.03 Resolution of Disputes. 

(a) Except for Reconciliation Disputes subject to Section 8.09, any and all disputes which cannot be settled
amicably, including any ancillary claims of any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement
(including the validity, scope and enforceability of this arbitration provision) (each a “Dispute”) shall be finally settled by arbitration conducted by a single arbitrator in Delaware in accordance with the then-existing Rules of
Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within ten (10) days of the receipt of the request for arbitration, the International Chamber of Commerce shall
make the appointment. The arbitrator shall be a lawyer admitted to the practice of law in the State of Delaware and shall conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during
any arbitration proceedings. 
 (b) Notwithstanding the provisions of paragraph (a), the Corporate Taxpayer may bring an action or special
proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this
paragraph (b), each Holder (through the Sponsors) (i) expressly consents to the application of paragraph (c) of this Section 8.03 to any such action or proceeding, (ii) agrees that proof shall not be required
that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii) irrevocably appoints the Corporate Taxpayer as agent of the Sponsors for service of
process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise the Sponsors of any such service of process, shall be deemed in every respect effective service of process upon
such Holder in any such action or proceeding. 
 (c) EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE CHANCERY COURT OF THE
STATE OF DELAWARE OR, IF SUCH COURT DECLINES JURISDICTION, THE COURTS OF THE STATE OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND OF THE UNITED STATES DISTRICT COURT FOR THE 

  
 15 

 
DISTRICT OF DELAWARE SITTING IN WILMINGTON, DELAWARE, AND ANY APPELLATE COURT FROM ANY THEREOF, FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS
SECTION 8.03, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel
arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the for a designated by this paragraph (c) have a reasonable relation to this Agreement, and
to the parties’ relationship with one another. 
 (d) The parties hereby waive, to the fullest extent permitted by applicable law, any
objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in the preceding paragraph of this
Section 8.03 and such parties agree not to plead or claim the same. 
 Section 8.04 Counterparts. This
Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Until and unless each party has received a counterpart hereof
signed by the other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). 

Section 8.05 Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject
matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this Agreement. Nothing in this Agreement shall create any third-party beneficiary
rights in favor of any Person or other party hereto. 
 Section 8.06 Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in
full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a
determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as
originally contemplated to the fullest extent possible. 
 Section 8.07 Amendment. No provision of this Agreement may be amended
unless such amendment is approved in writing by the Corporate Taxpayer and the Holders. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

Section 8.08 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
without regard to the conflicts of law rules of such State that would result in the application of the laws of any other State. 

Section 8.09 Reconciliation. In the event that the Corporate Taxpayer and a Holder (through the Sponsors) are unable to resolve a
disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 7.02 within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation
Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to both parties. The 

  
 16 

 
Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and the Sponsors agree otherwise, the Expert shall not, and the firm
that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or the Sponsors or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) calendar days
of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Basis Schedule or an
amendment thereto or the Early Termination Schedule or an amendment thereto within 30 calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days or as soon thereafter as is
reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in
the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer,
subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence. The Corporate Taxpayer
and the Sponsors shall bear their own costs and expenses of such proceeding, unless (i) the Expert substantially adopts the applicable Sponsor’s (or Sponsors’) position, in which case the Corporate Taxpayer shall reimburse the
Sponsors for any reasonable out- of-pocket costs and expenses in such proceeding, or (ii) the Expert substantially adopts the Corporate Taxpayer’s position, in
which case the applicable Sponsor (or Sponsors) shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding. Any
dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 8.09 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the
Expert pursuant to this Section 8.09 shall be binding on the Corporate Taxpayer and the Holders and may be entered and enforced in any court having jurisdiction. 

Section 8.10 Withholding. The Corporate Taxpayer shall be entitled to deduct and withhold from any payment payable pursuant to this
Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of state, local or foreign tax law. To the extent that amounts are so withheld and paid
over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the applicable Holder. 

Section 8.11 Admission of the Corporate Taxpayer into a Consolidated Group: Transfers of Corporate Assets. 

(a) If the Corporate Taxpayer is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income
tax return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit
Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole. 

(b) If any entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder transfers one or more assets to a
corporation (or a Person classified as a corporation for U.S. federal income tax purposes) with which such entity does not file a consolidated tax return pursuant to Section 1501 of the Code, such entity, for purposes of calculating the amount
of any Tax Benefit Payment or Early Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be 

  
 17 

 
treated as having disposed of such asset in a fully taxable transaction on the date of such contribution. The consideration deemed to be received by such entity shall be equal to the fair market
value of the contributed asset. For purposes of this Section 8.11, a transfer of a partnership interest shall be treated as a transfer of the transferring partner’s share of each of the assets and liabilities of that
partnership. 
 Section 8.12 Confidentiality. Each Holder (through the Sponsors) and each of its assignees acknowledges and
agrees that the information of the Corporate Taxpayer is confidential and, except in the course of performing any duties as necessary for the Corporate Taxpayer and its Affiliates, as required by law or legal process or to enforce the terms of this
Agreement, shall keep and retain in the strictest confidence and not disclose to any Person all confidential matters of the Corporate Taxpayer or the Holders acquired pursuant to this Agreement. This Section 8.12 shall not
apply to (i) any information that has been made publicly available by the Corporate Taxpayer or any of its Affiliates, becomes public knowledge (except as a result of an act of any Holder in violation of this Agreement) or is generally known to
the business community; and (ii) the disclosure of information to the extent necessary for any Holder to prepare and file its Tax Returns, to respond to any inquiries regarding the same from any Taxing Authority or to prosecute or defend any
action, proceeding or audit by any Taxing Authority with respect to such returns. Notwithstanding anything to the contrary herein, each Holder (and each employee, representative or other agent of such Holder) may disclose to any and all Persons,
without limitation of any kind, the tax treatment and tax structure of (x) the Corporate Taxpayer and (y) any of its transactions, and all materials of any kind (including opinions or other tax analyses) that are provided to such Holder
relating to such tax treatment and tax structure. 
 Section 8.13 Appointment of Sponsors. 

(a) Appointment. Without further action of any of the Corporate Taxpayer, the Sponsors or any Holder, and as partial consideration of
the benefits conferred by this Agreement, each of the Sponsors are hereby irrevocably constituted and appointed, with full power of substitution, to act in the name, place and stead of each Holder with respect to the taking by the Sponsors of any
and all actions and the making of any decisions required or permitted to be taken by the Sponsors under this Agreement (and any potential agreement with the Corporate Taxpayer to terminate this Agreement earlier than such time as is provided in
Section 4.01 provided that any payment made by the Corporate Taxpayer upon such an early termination shall be paid to each Holder based on such Holder’s Ownership Percentage). The power of attorney granted herein is
coupled with an interest and is irrevocable and may be delegated by the Sponsors. No bond shall be required of the Sponsors, and the Sponsors shall receive no compensation for their services. 

(b) Expenses. If at any time the Sponsors shall incur out of pocket expenses in connection with exercise of their duties hereunder, upon
written notice to the Corporate Taxpayer from the applicable Sponsor of documented costs and expenses (including fees and disbursements of counsel and accountants) incurred by the Sponsor in connection with the performance of its rights or
obligations under this Agreement and the taking of any and all actions in connection therewith, the Corporate Taxpayer shall reduce any future payments (if any) due to the Holders hereunder pro rata (based on their respective Ownership Percentages)
by the amount of such expenses which it shall instead remit directly to the Sponsors. In connection with the performance of its rights and obligations under this Agreement and the taking of any and all actions in connection therewith, the Sponsors
shall not be required to expend any of their own funds (though, for the avoidance of doubt, they may do so at any time and from time to time in its sole discretion). 

(c) Limitation on Liability. The Sponsors shall not be liable to any Holder for any act of the Sponsors arising out of or in connection
with the acceptance or administration of its duties under this Agreement, except to the extent any liability, loss, damage, penalty, fine, cost or expense is 

  
 18 

 
actually incurred by such Holder as a proximate result of the gross negligence, bad faith or willful misconduct of the Sponsors (it being understood that any act done or omitted pursuant to the
advice of legal counsel shall be conclusive evidence of such good faith and reasonable judgment). The Sponsors shall not be liable for, and shall be indemnified by the Holders (on a several but not joint basis) for, any liability, loss, damage,
penalty or fine incurred by the Sponsors (and any cost or expense incurred by the Sponsors in connection therewith and herewith and not previously reimbursed pursuant to Section 8.13(b) above) arising out of or in
connection with the acceptance or administration of its duties under this Agreement, except to the extent that any such liability, loss, damage, penalty, fine, cost or expense is the proximate result of the gross negligence, bad faith or willful
misconduct of the Sponsors (it being understood that any act done or omitted pursuant to the advice of legal counsel shall be conclusive evidence of such good faith and reasonable judgment); provided, however in no event shall any Holder be
obligated to indemnify the Sponsors hereunder for any liability, loss, damage, penalty, fine, cost or expense to the extent (and only to the extent) that the aggregate amount of all liabilities, losses, damages, penalties, fines, costs and expenses
indemnified by such Holder hereunder is or would be in excess of the aggregate payments under this Agreement actually remitted to such Holder. Each Holder’s receipt of any and all benefits to which such Holder is entitled under this Agreement,
if any, is conditioned upon and subject to such Holder’s acceptance of all obligations, including the obligations of this Section 8.13(c), applicable to such Holder under this Agreement. 

(d) Actions of the Sponsors. Any decision, act, consent or instruction of the Sponsors (acting jointly) shall constitute a decision of
all Holders and shall be final, binding and conclusive upon each Holder, and the Corporate Taxpayer may rely upon any decision, act, consent or instruction of the Sponsors as being the decision, act, consent or instruction of each Holder. The
Corporate Taxpayer is hereby relieved from any liability to any Person for any acts done by the Corporate Taxpayer in accordance with any such decision, act, consent or instruction of the Sponsors. 

[Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

			
	CORPORATE TAXPAYER:
	
	PURPOSEBUILT BRANDS, INC.
		
	By:	 	 /s/ Christopher G. Bauder

		 	Name: Christopher G. Bauder
		 	Title: Chief Executive Officer

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

			
	SPONSORS:
	
	CARLYLE PANAMERA HOLDINGS, L.P.
	
	By: CEOF II GP, L.P.
	Its: General Partner
	
	By: CEOF II GP, L.L.C.
	Its: General Partner
		
	By:	 	 /s/ David Basto

		 	Name: David Basto
		 	Title: Authorized Signatory
	
	TA XII-A, L.P.
	
	By: TA Associates XII GP L.P.
	Its: General Partner
	
	By: TA Associates, LP
	Its: General Partner
		
	By:	 	 /s/ William D. Christ

		 	Name: William D. Christ
		 	Title: Managing Director

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

			
	HOLDERS:
	
	CARLYLE PANAMERA HOLDINGS, L.P.
		
	By:	 	CEOF II GP, L.P.
	Its:	 	General Partner
		
	By:	 	CEOF II GP, L.L.C.
	Its:	 	General Partner
		
	By:	 	 /s/ David Basto

		 	Name: David Basto
		 	Title: Authorized Signatory

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

			
	HOLDERS:
	
	TA XII-A, L.P.
		
	By:	 	TA Associates XII GP L.P.
	Its:	 	General Partner
	
	By: TA Associates, LP
	Its:	 	General Partner
		
	By:	 	 /s/ William D. Christ

		 	Name: William D. Christ
		 	Title: Managing Director
	
	TA XII-B, L.P.
		
	By:	 	TA Associates XII GP L.P.
	Its:	 	General Partner
		
	By:	 	TA Associates, LP
	Its:	 	General Partner
		
	By:	 	 /s/ William D. Christ

		 	Name: William D. Christ
		 	Title: Managing Director
	
	TA INVESTORS XII, L.P.
		
	By:	 	TA Associates, LP
	Its:	 	General Partner
		
	By:	 	 /s/ William D. Christ

		 	Name: William D. Christ
		 	Title: Managing Director

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ John J. Brennan

	Name: John J. Brennan
	Title: Trustee

  

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Christopher Bauder

	Name: Christopher Bauder

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Ed Duffy

	Name: Ed Duffy

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Don Eggebraten

	Name: Don Eggebraten

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Rusty Snow

	Name: Rusty Snow

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	 HOLDERS:

	
	 /s/ Chad Hansen

	 Name: Chad Hansen

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	 HOLDERS:

	
	 /s/ Sylwia Aldrin

	 Name: Sylwia Aldrin

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Marco Ferro

	Name: Marco Ferro

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Carl DeMasi

	Name: Carl DeMasi

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ George Patsais

	Name: George Patsais

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Ryan Maxwell

	Name: Ryan Maxwell

 Signature Page to Tax Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Minerva Alday

	Name: Minerva Alday

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Dan Schober

	Name: Dan Schober

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Ed Saar

	Name: Ed Saar

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Blair Martineau

	Name: Blair Martineau

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Andrea Eigel

	Name: Andrea Eigel

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Isaac Cohen

	Name: Isaac Cohen

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Prachi Junnarkar

	Name: Prachi Junnarkar

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Lisa Schmidt

	Name: Lisa Schmidt

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ William Hendricks

	Name: William Hendricks

  
 Signature Page to Tax
Receivable Agreement 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Sponsors and the Holders set forth below
have duly executed this Agreement as of the date first written above. 
  

	
	HOLDERS:
	
	 /s/ Doug Richcreek

	Name: Doug Richcreek

  
 Signature Page to Tax
Receivable AgreementEX-10.1

 Exhibit 10.1 

 

PLAYTIKA HOLDING CORP. 

2020 INCENTIVE AWARD PLAN 

ARTICLE I. 
 PURPOSE

 The Plan’s purpose is to enhance the Company’s ability to attract, retain and motivate persons who make (or are expected to
make) important contributions to the Company by providing these individuals with equity ownership opportunities. Capitalized terms used in the Plan are defined in Article XI. 

ARTICLE II. 
 ELIGIBILITY

 Service Providers are eligible to be granted Awards under the Plan, subject to the limitations described herein. 

ARTICLE III. 

ADMINISTRATION AND DELEGATION 

3.1 Administration. The Plan is administered by the Administrator. The Administrator has authority to determine which Service Providers
receive Awards, grant Awards and set Award terms and conditions, subject to the conditions and limitations in the Plan. The Administrator also has the authority to take all actions and make all determinations under the Plan, to interpret the Plan
and Award Agreements and to adopt, amend and repeal Plan administrative rules, guidelines and practices as it deems advisable. The Administrator may correct defects and ambiguities, supply omissions and reconcile inconsistencies in the Plan or any
Award as it deems necessary or appropriate to administer the Plan and any Awards. The Administrator’s determinations under the Plan are in its sole discretion and will be final and binding on all persons having or claiming any interest in the
Plan or any Award. 
 3.2 Appointment of Committees. To the extent Applicable Laws permit, the Board may delegate any or all of its
powers under the Plan to one or more Committees or officers of the Company. The Board may abolish any Committee or re-vest in itself any previously delegated authority at any time. 

ARTICLE IV. 
 STOCK
AVAILABLE FOR AWARDS 
 4.1 Number of Shares. Subject to adjustment under Article VIII and the terms of this Article IV,
Awards may be made under the Plan covering up to the Overall Share Limit. Shares issued under the Plan may consist of authorized but unissued Shares or Shares purchased on the open market or treasury Shares. 

4.2 Share Recycling. If all or any part of an Award expires, lapses or is terminated, exchanged for cash, surrendered, repurchased,
canceled without having been fully exercised or forfeited, in any case, in a manner that results in the Company acquiring Shares covered by the Award at a price not greater than the price (as adjusted to reflect any Equity Restructuring) paid by the
Participant for such Shares or not issuing any Shares covered by the Award, the unused Shares covered by the Award will, as applicable, become or again be available for Award grants under the Plan. Further, Shares delivered (either by actual
delivery or attestation) to the Company by a Participant to satisfy the applicable exercise or purchase price of an Award and/or to satisfy any applicable tax withholding obligation (including Shares retained by the

  
 1 

 
Company from the Award being exercised or purchased and/or creating the tax obligation) will, as applicable, become or again be available for Award grants under the Plan. The payment of Dividend
Equivalents in cash in conjunction with any outstanding Awards shall not count against the Overall Share Limit. 
 4.3 Incentive Stock
Option Limitations. Notwithstanding anything to the contrary herein, no more than 22,000,000 Shares may be issued pursuant to the exercise of Incentive Stock Options.  

4.4 Substitute Awards. In connection with an entity’s merger or consolidation with the Company or the Company’s acquisition
of an entity’s property or stock, the Administrator may grant Awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate. Substitute Awards may be
granted on such terms as the Administrator deems appropriate, notwithstanding limitations on Awards in the Plan. Substitute Awards will not count against the Overall Share Limit (nor shall Shares subject to a Substitute Award be added to the Shares
available for Awards under the Plan as provided above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock
Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan
approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent
appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or
combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan (and Shares subject to such Awards shall not be added to the Shares available for Awards under the Plan as provided above);
provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and
shall only be made to individuals who were not Employees or Directors prior to such acquisition or combination. 
 4.5 Non-Employee Director Compensation. The Administrator may establish compensation for non-employee Directors from time to time, subject to the limitations in the Plan. The
Administrator will from time to time determine the terms, conditions and amounts of all such non-employee Director compensation in its discretion and pursuant to the exercise of its business judgment, taking
into account such factors, circumstances and considerations as it shall deem relevant from time to time. 
 ARTICLE V. 

STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 

5.1 General. The Administrator may grant Options or Stock Appreciation Rights to Service Providers subject to the limitations in the
Plan, including any limitations in the Plan that apply to Incentive Stock Options. The Administrator will determine the number of Shares covered by each Option and Stock Appreciation Right, the exercise price of each Option and Stock Appreciation
Right and the conditions and limitations applicable to the exercise of each Option and Stock Appreciation Right. A Stock Appreciation Right will entitle the Participant (or other person entitled to exercise the Stock Appreciation Right) to receive
from the Company upon exercise of the exercisable portion of the Stock Appreciation Right an amount determined by multiplying the excess, if any, of the Fair Market Value of one Share on the date of exercise over the exercise price per Share of the
Stock Appreciation Right by the number of Shares with respect to which the Stock Appreciation Right is exercised, subject to any limitations of the Plan or that the Administrator may impose and payable in cash, Shares valued at Fair Market Value or
a combination of the two as the Administrator may determine or provide in the Award Agreement. 

  
 2 

 5.2 Exercise Price. The Administrator will establish each Option’s and Stock
Appreciation Right’s exercise price and specify the exercise price in the Award Agreement. The exercise price will not be less than 100% of the Fair Market Value on the grant date of the Option or Stock Appreciation Right. 

5.3 Duration. Each Option or Stock Appreciation Right will be exercisable at such times and as specified in the Award Agreement,
provided that the term of an Option or Stock Appreciation Right will not exceed ten years. Notwithstanding the foregoing and unless determined otherwise by the Company, in the event that on the last business day of the term of an Option or Stock
Appreciation Right (other than an Incentive Stock Option) (i) the exercise of the Option or Stock Appreciation Right is prohibited by Applicable Law, as determined by the Company, or (ii) Shares may not be purchased or sold by the
applicable Participant due to any Company insider trading policy (including blackout periods) or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term
of the Option or Stock Appreciation Right shall be extended until the date that is thirty days after the end of the legal prohibition, black-out period or lock-up
agreement, as determined by the Company; provided, however, in no event shall the extension last beyond the ten year term of the applicable Option or Stock Appreciation Right. 

5.4 Exercise. Options and Stock Appreciation Rights may be exercised by delivering to the Company a written notice of exercise, in a
form the Administrator approves (which may be electronic), signed by the person authorized to exercise the Option or Stock Appreciation Right, together with, as applicable, payment in full (i) as specified in Section 5.5 for the number of
Shares for which the Award is exercised and (ii) as specified in Section 9.5 for any applicable taxes. Unless the Administrator otherwise determines, an Option or Stock Appreciation Right may not be exercised for a fraction of a Share.

 5.5 Payment Upon Exercise. Subject to Section 10.8, any Company insider trading policy (including blackout
periods) and Applicable Laws, the exercise price of an Option must be paid by: 
 (a) cash, wire transfer of immediately available funds or
by check payable to the order of the Company, provided that the Company may limit the use of one of the foregoing payment forms if one or more of the payment forms below is permitted; 

(b) if there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including
electronically or telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to pay the exercise price, or
(B) the Participant’s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to pay the exercise price; provided
that such amount is paid to the Company at such time as may be required by the Administrator; 
 (c) to the extent permitted by the
Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value; 

(d) to the extent permitted by the Administrator, surrendering Shares then issuable upon the Option’s exercise valued at their Fair
Market Value on the exercise date; 
 (e) to the extent permitted by the Administrator, delivery of a promissory note or any other property
that the Administrator determines is good and valuable consideration; or 
 (f) to the extent permitted by the Company, any combination of
the above payment forms approved by the Administrator. 

  
 3 

 ARTICLE VI. 

RESTRICTED STOCK; RESTRICTED STOCK UNITS 

6.1 General. The Administrator may grant Restricted Stock, or the right to purchase Restricted Stock, to any Service Provider, subject
to the Company’s right to repurchase all or part of such shares at their issue price or other stated or formula price from the Participant (or to require forfeiture of such shares) if conditions the Administrator specifies in the Award
Agreement are not satisfied before the end of the applicable restriction period or periods that the Administrator establishes for such Award. In addition, the Administrator may grant to Service Providers Restricted Stock Units, which may be subject
to vesting and forfeiture conditions during the applicable restriction period or periods, as set forth in an Award Agreement. The Administrator will determine and set forth in the Award Agreement the terms and conditions for each Restricted Stock
and Restricted Stock Unit Award, subject to the conditions and limitations contained in the Plan. 
 6.2 Restricted Stock. 

(a) Dividends. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to
such Shares, unless the Administrator provides otherwise in the Award Agreement. In addition, unless the Administrator provides otherwise, if any dividends or distributions are paid in Shares, or consist of a dividend or distribution to holders of
Common Stock of property other than an ordinary cash dividend, the Shares or other property will be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. 

(b) Stock Certificates. The Company may require that the Participant deposit in escrow with the Company (or its designee) any stock
certificates issued in respect of shares of Restricted Stock, together with a stock power endorsed in blank. 
 6.3 Restricted Stock
Units. 
 (a) Settlement. The Administrator may provide that settlement of Restricted Stock Units will occur upon or as soon as
reasonably practicable after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant’s election, in a manner intended to comply with Section 409A. 

(b) Stockholder Rights. A Participant will have no rights of a stockholder with respect to Shares subject to any Restricted Stock Unit
unless and until the Shares are delivered in settlement of the Restricted Stock Unit. 
 (c) Dividend Equivalents. If the
Administrator provides, a grant of Restricted Stock Units may provide a Participant with the right to receive Dividend Equivalents on the portion of Restricted Stock Units for which vesting conditions on such underlying Restricted Stock Units have
been satisfied, but the settlement of such Restricted Stock Units has not occurred as of any dividend record date for payment to holders of Common Stock. Dividend Equivalents may be paid currently or credited to an account for the Participant,
settled in cash or Shares and subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units with respect to which the Dividend Equivalents are granted and subject to other terms and conditions as set forth in
the Award Agreement. For the avoidance of doubt, no Dividend Equivalents on a Restricted Stock Unit shall be provided on the portion of Restricted Stock Units for which any vesting conditions remain with respect to such underlying Restricted Stock
Unit on any dividend record date with respect to any payment to holders of Common Stock. 

  
 4 

 ARTICLE VII. 

OTHER STOCK OR CASH BASED AWARDS 

Other Stock or Cash Based Awards may be granted to Participants, including Awards entitling Participants to receive Shares to be delivered in
the future and including annual or other periodic or long-term cash bonus awards (whether based on specified Performance Criteria or otherwise), in each case subject to any conditions and limitations in the Plan. Such Other Stock or Cash Based
Awards will also be available as a payment form in the settlement of other Awards, as standalone payments and as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock or Cash Based Awards may be paid in Shares,
cash or other property, as the Administrator determines. Subject to the provisions of the Plan, the Administrator will determine the terms and conditions of each Other Stock or Cash Based Award, including any purchase price, performance goal (which
may be based on the Performance Criteria), transfer restrictions, and vesting conditions, which will be set forth in the applicable Award Agreement. 

ARTICLE VIII. 

ADJUSTMENTS FOR CHANGES IN COMMON STOCK 

AND CERTAIN OTHER EVENTS 

8.1 Equity Restructuring. In connection with any Equity Restructuring, notwithstanding anything to the contrary in this
Article VIII, the Administrator will equitably adjust each outstanding Award as it deems appropriate to reflect the Equity Restructuring, which may include adjusting the number and type of securities subject to each outstanding Award and/or the
Award’s exercise price or grant price (if applicable), granting new Awards to Participants, and making a cash payment to Participants. The adjustments provided under this Section 8.1 will be nondiscretionary and final and binding on the
affected Participant and the Company; provided that the Administrator will determine whether an adjustment is equitable. 
 8.2 Corporate
Transactions. In the event of any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, combination, amalgamation, repurchase, recapitalization,
liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, Change in Control, issuance of warrants or
other rights to purchase Common Stock or other securities of the Company, other similar corporate transaction or event, other unusual or nonrecurring transaction or event affecting the Company or its financial statements or any change in any
Applicable Laws or accounting principles, the Administrator, on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event (except that action to give
effect to a change in Applicable Law or accounting principles may be made within a reasonable period of time after such change) and is hereby authorized, without the Participant’s express prior written consent, to take any one or more of the
following actions whenever the Administrator determines that such action is appropriate in order to (x) prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with
respect to any Award granted or issued under the Plan, (y) to facilitate such transaction or event or (z) give effect to such changes in Applicable Laws or accounting principles: 

(a) To provide for the cancellation of any such Award in exchange for either an amount of cash or other property or any combination thereof
with a value equal to the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant’s rights under the vested portion of such Award, as applicable; provided that,
if the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant’s rights, in any case, is equal to or less than zero, then the Award may be terminated without
payment; 

  
 5 

 (b) To provide that such Award shall vest and, to the extent applicable, be exercisable as
to all shares covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award; 
 (c) To provide that
such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate
adjustments as to the number and kind of shares and/or applicable exercise or purchase price, in all cases, as determined by the Administrator; 

(d) To make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards
and/or with respect to which Awards may be granted under the Plan (including, but not limited to, adjustments of the limitations in Article IV hereof on the maximum number and kind of shares which may be issued) and/or in the terms and
conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards; 
 (e) To replace such Award with
other rights or property selected by the Administrator; and/or 
 (f) To provide that the Award will terminate and cannot vest, be exercised
or become payable after the applicable event. 
 8.3 Effect of Non-Assumption in a Change in
Control. 
 (a) Notwithstanding the provisions of Section 8.2, if a Change in Control occurs and a Participant’s Awards are
not continued, converted, assumed, or replaced with a substantially similar award by (i) the Company, or (ii) a successor entity or its parent or subsidiary (an “Assumption”), and provided that the Participant has
not had a Termination of Service, then, immediately prior to the Change in Control, such Awards shall become fully vested, exercisable and/or payable, as applicable, and all forfeiture, repurchase and other restrictions on such Awards shall lapse,
in which case, such Awards shall be canceled upon the consummation of the Change in Control in exchange for the right to receive the Change in Control consideration payable to other holders of Common Stock (i) which may be on such terms and
conditions as apply generally to holders of Common Stock under the Change in Control documents (including, without limitation, any escrow, earn-out or other deferred consideration provisions) or such other
terms and conditions as the Administrator may provide, and (ii) determined by reference to the number of shares subject to such Awards and net of any applicable exercise price; provided that to the extent that any Awards constitute
“nonqualified deferred compensation” that may not be paid upon the Change in Control under Section 409A without the imposition of taxes thereon under Section 409A, the timing of such payments shall be governed by the applicable
Award Agreement (subject to any deferred consideration provisions applicable under the Change in Control documents); and provided, further, that if the amount to which a Participant would be entitled upon the settlement or exercise of such Award at
the time of the Change in Control is equal to or less than zero, then such Award may be terminated without payment. The Administrator shall determine whether an Assumption of an Award has occurred in connection with a Change in Control. 

(b) For the purposes of this Section 8.3, an Assumption of an Award shall be considered to have occurred in the Award is assumed or
substituted for if, following the Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash or other securities or
property) received in the transaction constituting a Change in Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a choice of consideration, the type of consideration

  
 6 

 
chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the transaction constituting a Change in Control is not solely common
stock of the successor entity or its parent or subsidiary, the Administrator may, with the consent of the successor entity, provide that the consideration to be received upon the exercise or vesting of an Award, for each Share subject thereto, will
be solely common stock of the successor entity or its parent or subsidiary substantially equal in fair market value to the per Share consideration received by holders of Shares in the transaction constituting a Change in Control.

8.4 Administrative Stand Still. In the event of any pending stock dividend, stock split, combination or exchange of shares, merger,
consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other extraordinary transaction or change affecting the Shares or the share price of Common Stock, including any Equity Restructuring or
any securities offering or other similar transaction, for administrative convenience, the Administrator may refuse to permit the exercise of any Award for up to sixty days before or after such transaction. 

8.5 General. Except as expressly provided in the Plan or the Administrator’s action under the Plan, no Participant will have any
rights due to any subdivision or consolidation of Shares of any class, dividend payment, increase or decrease in the number of Shares of any class or dissolution, liquidation, merger, or consolidation of the Company or other corporation. Except as
expressly provided with respect to an Equity Restructuring under Section 8.1 or the Administrator’s action under the Plan, no issuance by the Company of Shares of any class, or securities convertible into Shares of any class, will affect,
and no adjustment will be made regarding, the number of Shares subject to an Award or the Award’s grant or exercise price. The existence of the Plan, any Award Agreements and the Awards granted hereunder will not affect or restrict in any way
the Company’s right or power to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (ii) any merger, consolidation dissolution or liquidation
of the Company or sale of Company assets or (iii) any sale or issuance of securities, including securities with rights superior to those of the Shares or securities convertible into or exchangeable for Shares. The Administrator may treat
Participants and Awards (or portions thereof) differently under this Article VIII. 
 ARTICLE IX. 

GENERAL PROVISIONS APPLICABLE TO AWARDS 

9.1 Transferability. Except as the Administrator may determine or provide in an Award Agreement or otherwise for Awards other than
Incentive Stock Options, Awards may not be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily or by operation of law, except by will or the laws of descent and distribution, or, subject to the Administrator’s
consent, pursuant to a domestic relations order, and, during the life of the Participant, will be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, will include references to a
Participant’s authorized transferee that the Administrator specifically approves. 
 9.2 Documentation. Each Award will be
evidenced in an Award Agreement, which may be written or electronic, as the Administrator determines. Each Award may contain terms and conditions in addition to those set forth in the Plan. 

9.3 Discretion. Except as the Plan otherwise provides, each Award may be made alone or in addition or in relation to any other Award.
The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly. 

9.4 Termination of Status. The Administrator will determine how the disability, death, retirement, authorized leave of absence or any
other change or purported change in a Participant’s Service 

  
 7 

 
Provider status affects an Award and the extent to which, and the period during which, the Participant, the Participant’s legal representative, conservator, guardian or Designated
Beneficiary may exercise rights under the Award, if applicable. 
 9.5 Withholding. Each Participant must pay the Company, or make
provision satisfactory to the Administrator for payment of, any taxes required by law to be withheld in connection with such Participant’s Awards by the date of the event creating the tax liability. The Company may deduct an amount sufficient
to satisfy such tax obligations based on the applicable statutory withholding rates (or such other rate as may be determined by the Company after considering any accounting consequences or costs) from any payment of any kind otherwise due to a
Participant. In the absence of a contrary determination by the Company (or, with respect to withholding pursuant to clause (ii) below with respect to Awards held by individuals subject to Section 16 of the Exchange Act, a contrary
determination by the Administrator), all tax withholding obligations will be calculated based on the minimum applicable statutory withholding rates. Subject to Section 10.8 and any Company insider trading policy (including blackout periods),
Participants may satisfy such tax obligations (i) in cash, by wire transfer of immediately available funds, by check made payable to the order of the Company, provided that the Company may limit the use of the foregoing payment forms if one or
more of the payment forms below is permitted, (ii) to the extent permitted by the Administrator, in whole or in part by delivery of Shares, including Shares delivered by attestation and Shares retained from the Award creating the tax
obligation, valued at their Fair Market Value on the date of delivery, (iii) if there is a public market for Shares at the time the tax obligations are satisfied, unless the Company otherwise determines, (A) delivery (including
electronically or telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the tax obligations, or
(B) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to satisfy the tax withholding; provided
that such amount is paid to the Company at such time as may be required by the Administrator, or (iv) to the extent permitted by the Company, any combination of the foregoing payment forms approved by the Administrator. Notwithstanding any
other provision of the Plan, the number of Shares which may be so delivered or retained pursuant to clause (ii) of the immediately preceding sentence shall be limited to the number of Shares which have a Fair Market Value on the date of
delivery or retention no greater than the aggregate amount of such liabilities based on the maximum individual statutory tax rate in the applicable jurisdiction at the time of such withholding (or such other rate as may be required to avoid the
liability classification of the applicable award under generally accepted accounting principles in the United States of America)); provided, however, that, any such Shares delivered or retained shall be rounded up to the nearest whole Share to the
extent rounding up to the nearest whole Share does not result in the liability classification of the applicable Award under generally accepted accounting principles in the United States of America. If any tax withholding obligation will be satisfied
under clause (ii) above by the Company’s retention of Shares from the Award creating the tax obligation and there is a public market for Shares at the time the tax obligation is satisfied, the Company may elect to instruct any brokerage
firm determined acceptable to the Company for such purpose to sell on the applicable Participant’s behalf some or all of the Shares retained and to remit the proceeds of the sale to the Company or its designee, and each Participant’s
acceptance of an Award under the Plan will constitute the Participant’s authorization to the Company and instruction and authorization to such brokerage firm to complete the transactions described in this sentence. 

9.6 Amendment of Award; Repricing. The Administrator may amend, modify or terminate any outstanding Award, including by substituting
another Award of the same or a different type, changing the exercise or settlement date, and converting an Incentive Stock Option to a Non-Qualified Stock Option. The Participant’s consent to such action
will be required unless (i) the action, taking into account any related action, does not materially and adversely affect the Participant’s rights under the Award, or (ii) the change is permitted under Article VIII or pursuant to
Section 10.6. Notwithstanding the foregoing or anything in 

  
 8 

 
the Plan to the contrary, the Administrator may, without the approval of the stockholders of the Company, reduce the exercise price per share of outstanding Options or Stock Appreciation Rights
or cancel outstanding Options or Stock Appreciation Rights in exchange for cash, other Awards or Options or Stock Appreciation Rights with an exercise price per share that is less than the exercise price per share of the original Options or Stock
Appreciation Rights; provided the exercise price per share of such Options or Stock Appreciation Rights is no less than 100% of the Fair Market Value on the date of such action. 

9.7 Conditions on Delivery of Stock. The Company will not be obligated to deliver any Shares under the Plan or remove restrictions from
Shares previously delivered under the Plan until (i) all Award conditions have been met or removed to the Company’s satisfaction, (ii) as determined by the Company, all other legal matters regarding the issuance and delivery of such
Shares have been satisfied, including any applicable securities laws and stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the
Administrator deems necessary or appropriate to satisfy any Applicable Laws. The Company’s inability to obtain authority from any regulatory body having jurisdiction, which the Administrator determines is necessary to the lawful issuance and
sale of any securities, will relieve the Company of any liability for failing to issue or sell such Shares as to which such requisite authority has not been obtained. 

9.8 Acceleration. The Administrator may at any time provide that any Award will become immediately vested and fully or partially
exercisable, free of some or all restrictions or conditions, or otherwise fully or partially realizable. 
 9.9 Additional Terms of
Incentive Stock Options. The Administrator may grant Incentive Stock Options only to employees of the Company, any of its present or future parent or subsidiary corporations, as defined in Sections 424(e) or (f) of the Code,
respectively, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code. If an Incentive Stock Option is granted to a Greater Than 10% Stockholder, the exercise price will not be less than 110% of
the Fair Market Value on the Option’s grant date, and the term of the Option will not exceed five years. All Incentive Stock Options will be subject to and construed consistently with Section 422 of the Code. By accepting an Incentive
Stock Option, the Participant agrees to give prompt notice to the Company of dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Option made within (i) two years from the grant date
of the Option or (ii) one year after the transfer of such Shares to the Participant, specifying the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, assumption of indebtedness or other
consideration, in such disposition or other transfer. Neither the Company nor the Administrator will be liable to a Participant, or any other party, if an Incentive Stock Option fails or ceases to qualify as an “incentive stock option”
under Section 422 of the Code. Any Incentive Stock Option or portion thereof that fails to qualify as an “incentive stock option” under Section 422 of the Code for any reason, including becoming exercisable with respect to Shares
having a fair market value exceeding the $100,000 limitation under Treasury Regulation Section 1.422-4, will be a Non-Qualified Stock Option. 

ARTICLE X. 

MISCELLANEOUS 
 10.1 No
Right to Employment or Other Status. No person will have any claim or right to be granted an Award, and the grant of an Award will not be construed as giving a Participant the right to continued employment or any other relationship with the
Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an Award Agreement.

  
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 10.2 No Rights as Stockholder; Certificates. Subject to the Award Agreement, no
Participant or Designated Beneficiary will have any rights as a stockholder with respect to any Shares to be distributed under an Award until becoming the record holder of such Shares. Notwithstanding any other provision of the Plan, unless the
Administrator otherwise determines or Applicable Laws require, the Company will not be required to deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares may be recorded in the books of
the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on stock certificates issued under the Plan that the Administrator deems necessary or appropriate to comply with Applicable Laws. 

10.3 Effective Date and Term of Plan. Unless earlier terminated by the Board, the Plan will become effective on the date it is adopted
and approved by the Board. The Plan will remain in effect until the tenth anniversary of the earlier of (a) the date the Board adopted the Plan or (b) the date the Company’s stockholders approved the Plan, but Awards previously
granted may extend beyond that date in accordance with the Plan. The Plan will be submitted for the approval of the Company’s stockholders within twelve months after the date of the Board’s adoption of the Plan. Awards may be granted or
awarded prior to such stockholder approval; provided that no Award shall become exercisable, vested or realizable, as applicable to such Award, unless the Plan has been approved by the Company’s stockholders within twelve months before or
after the date the Plan was adopted by the Board; and provided, further, that if such approval has not been obtained at the end of said twelve-month period, all Awards previously granted or awarded under the Plan shall thereupon be canceled and
become null and void. 
 10.4 Amendment of Plan. The Administrator may amend, suspend or terminate the Plan at any time; provided
that no amendment, other than an increase to the Overall Share Limit, may materially and adversely affect any Award outstanding at the time of such amendment without the affected Participant’s consent. No Awards may be granted under the Plan
during any suspension period or after the Plan’s termination. Awards outstanding at the time of any Plan suspension or termination will continue to be governed by the Plan and the Award Agreement, as in effect before such suspension or
termination. The Board will obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable Laws. 

10.5 Provisions for Foreign Participants. The Administrator may modify Awards granted to Participants who are foreign nationals or
employed outside the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other
matters. 
 10.6 Section 409A.  

(a) General. The Company intends that all Awards be structured to comply with, or be exempt from, Section 409A, such that no
adverse tax consequences, interest, or penalties under Section 409A apply. Notwithstanding anything in the Plan or any Award Agreement to the contrary, the Administrator may, without a Participant’s consent, amend this Plan or Awards,
adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment of Awards, including any such actions intended to
(A) exempt this Plan or any Award from Section 409A, or (B) comply with Section 409A, including regulations, guidance, compliance programs and other interpretative authority that may be issued after an Award’s grant date.
The Company makes no representations or warranties as to an Award’s tax treatment under Section 409A or otherwise. The Company will have no obligation under this Section 10.6 or otherwise to avoid the taxes, penalties or interest
under Section 409A with respect to any Award and will have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan are determined to constitute noncompliant “nonqualified deferred
compensation” subject to taxes, penalties or interest under Section 409A. 

  
 10 

 (b) Separation from Service. If an Award constitutes “nonqualified deferred
compensation” under Section 409A, any payment or settlement of such Award upon a termination of a Participant’s Service Provider relationship will, to the extent necessary to avoid taxes under Section 409A, be made only upon the
Participant’s “separation from service” (within the meaning of Section 409A), whether such “separation from service” occurs upon or after the termination of the Participant’s Service Provider relationship. For
purposes of this Plan or any Award Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment” or like terms means a “separation from service.” 

(c) Payments to Specified Employees. Notwithstanding any contrary provision in the Plan or any Award Agreement, any payment(s) of
“nonqualified deferred compensation” required to be made under an Award to a “specified employee” (as defined under Section 409A and as the Administrator determines) due to his or her “separation from service”
will, to the extent necessary to avoid taxes under Section 409A(a)(2)(B)(i) of the Code, be delayed for the six-month period immediately following such “separation from service” (or, if earlier,
until the specified employee’s death) and will instead be paid (as set forth in the Award Agreement) on the day immediately following such six-month period or as soon as administratively practicable
thereafter (without interest). Any payments of “nonqualified deferred compensation” under such Award payable more than six months following the Participant’s “separation from service” will be paid at the time or times the
payments are otherwise scheduled to be made. 
 10.7 Limitations on Liability. Notwithstanding any other provisions of the Plan, no
individual acting as a director, officer, other employee or agent of the Company or any Subsidiary will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in
connection with the Plan or any Award, and such individual will not be personally liable with respect to the Plan because of any contract or other instrument executed in his or her capacity as an Administrator, director, officer, other employee or
agent of the Company or any Subsidiary. The Company will indemnify and hold harmless each director, officer, other employee and agent of the Company or any Subsidiary that has been or will be granted or delegated any duty or power relating to the
Plan’s administration or interpretation, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Administrator’s approval) arising from any act or omission
concerning this Plan unless arising from such person’s own fraud or bad faith. 
 10.8
Lock-Up Period. The Company may, in connection with registering the offering of any Company securities under the Securities Act, prohibit Participants from, directly or indirectly, selling or otherwise
transferring any Shares or other Company securities during a period of up to one hundred eighty days following the effective date of a Company registration statement filed under the Securities Act, or such shorter or longer period as determined by
the Company. 
 10.9 Right of First Refusal. 

(a) Before any shares of Common Stock held by a Participant or any permitted transferee (each, a “Holder”) may be
sold, pledged, assigned, hypothecated, transferred, or otherwise disposed of (each, a “Transfer”), the Company or its assignee(s) shall have a right of first refusal to purchase the shares of Common Stock proposed to be
Transferred on the terms and conditions set forth in this Section 10.9 (the “Right of First Refusal”). In the event that the Company’s charter, bylaws and/or a stockholders’ agreement applicable to the shares
of Common Stock contain a right of first refusal with respect to the shares of Common Stock, such right of first refusal shall apply to the shares of Common Stock to the extent such provisions are more restrictive than the Right of First Refusal set
forth in this Section 10.9 and the Right of First Refusal set forth in this Section 10.9 shall not in any way restrict the operation of the Company’s charter, bylaws or the operation of any applicable stockholders’ agreement.

  
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 (b) In the event any Holder desires to Transfer any shares of Common Stock, the Holder shall
deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise Transfer such shares of Common Stock; (ii) the name of each proposed purchaser or other
transferee (“Proposed Transferee”); (iii) the number of shares of Common Stock to be Transferred to each Proposed Transferee; and (iv) the price for which the Holder proposes to Transfer the shares of Common Stock
(the “Offered Price”), and the Holder shall offer such shares of Common Stock at the Offered Price to the Company or its assignee(s). 

(c) Within twenty-five days after receipt of the Notice, the Company and/or its assignee(s) may elect in writing to purchase all, but not less
than all, of the shares of Common Stock proposed to be Transferred to any one or more of the Proposed Transferees by delivery of a written exercise notice to the Holder (a “Company Notice”). The purchase price
(“Purchase Price”) for the shares of Common Stock repurchased under this Section 10.9 shall be the Offered Price. 

(d) Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check or wire transfer), by
cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof, within five days after delivery of the Company Notice or in
the manner and at the times mutually agreed to by the Company and the Holder. Should the Offered Price specified in the Notice be payable in property other than cash, the Company or its assignee shall have the right to pay the purchase price in the
form of cash equal in amount to the value of such property, as determined by the Administrator. 
 (e) If all or a portion of the shares of
Common Stock proposed in the Notice to be Transferred are not purchased by the Company and/or its assignee(s) as provided in this Section 10.9, then the Holder may sell or otherwise Transfer such shares of Common Stock to that Proposed
Transferee at the Offered Price or at a higher price; provided that such sale or other Transfer is consummated within sixty days after the date of the Notice; and provided, further, that any such sale or other Transfer is effected in accordance with
any Applicable Laws and the Proposed Transferee agrees in writing that the provisions of this Plan and the applicable Award Agreement and any other applicable agreements governing the shares of Common Stock to be Transferred shall continue to apply
to the shares of Common Stock in the hands of such Proposed Transferee. If the shares of Common Stock described in the Notice are not Transferred to the Proposed Transferee within such sixty-day period, a new
Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal, as provided herein, before any shares of Common Stock held by the Holder may be sold or otherwise Transferred. 

(f) Anything to the contrary contained in this Section 10.9 notwithstanding and to the extent permitted by the Administrator, the
Transfer of any or all of the shares of Common Stock during a Participant’s lifetime or upon a Participant’s death by will or intestacy to the Participant’s Immediate Family or a trust for the benefit of the Participant’s
Immediate Family shall be exempt from the Right of First Refusal. As used herein, “Immediate Family” shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister or stepchild (whether or not adopted).
In such case, the transferee or other recipient shall receive and hold the shares of Common Stock so Transferred subject to the provisions of this Plan (including the Right of First Refusal), the applicable Award Agreement and any other applicable
agreements governing the shares of Common Stock to be Transferred, and there shall be no further Transfer of such shares of Common Stock except in accordance with the terms of this Section 10.9 (or otherwise as expressly provided under the
Plan). 
 (g) The Right of First Refusal shall terminate as to all shares of Common Stock upon the occurrence of a Change in Control or the
Public Trading Date. 

  
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 10.10 Data Privacy. As a condition for receiving any Award, each Participant
explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this section by and among the Company and its Related Entities exclusively for implementing, administering and
managing the Participant’s participation in the Plan. The Company and its Related Entities may hold certain personal information about a Participant, including the Participant’s name, address and telephone number; birthdate; social
security, insurance number or other identification number; salary; nationality; job title(s); any Shares held in the Company or its Related Entities; and Award details, to implement, manage and administer the Plan and Awards (the
“Data”). The Company and its Related Entities may transfer the Data amongst themselves as necessary to implement, administer and manage a Participant’s participation in the Plan, and the Company and its Related Entities
may transfer the Data to third parties assisting the Company with Plan implementation, administration and management. These recipients may be located in the Participant’s country, or elsewhere, and the Participant’s country may have
different data privacy laws and protections than the recipients’ country. By accepting an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement,
administer and manage the Participant’s participation in the Plan, including any required Data transfer to a broker or other third party with whom the Company or the Participant may elect to deposit any Shares. The Data related to a Participant
will be held only as long as necessary to implement, administer, and manage the Participant’s participation in the Plan. A Participant may, at any time, view the Data that the Company holds regarding such Participant, request additional
information about the storage and processing of the Data regarding such Participant, recommend any necessary corrections to the Data regarding the Participant or refuse or withdraw the consents in this Section 10.9 in writing, without cost, by
contacting the local human resources representative. The Company may cancel Participant’s ability to participate in the Plan and, in the Administrator’s discretion, the Participant may forfeit any outstanding Awards if the Participant
refuses or withdraws the consents in this Section 10.9. For more information on the consequences of refusing or withdrawing consent, Participants may contact their local human resources representative. 

10.11 Severability. If any portion of the Plan or any action taken under it is held illegal or invalid for any reason, the illegality
or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provisions had been excluded, and the illegal or invalid action will be null and void. 

10.12 Governing Documents. If any contradiction occurs between the Plan and any Award Agreement or other written agreement between a
Participant and the Company (or any Subsidiary) that the Administrator has approved, the Plan will govern, unless it is expressly specified in such Award Agreement or other written document that a specific provision of the Plan will not apply. 

10.13 Governing Law; Venue; Waiver of Jury Trial. The Plan and all Awards will be governed by and interpreted in accordance with the
laws of the State of Delaware, disregarding any state’s choice-of-law principles requiring the application of a jurisdiction’s laws other than the State of
Delaware. By accepting an Award, each Participant irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America, in each case located in the State of
Delaware, for any action arising out of or relating to the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of any process, summons, notice or document by U.S. registered mail
to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By accepting an Award, each Participant irrevocably and unconditionally waives any objection to the
laying of venue of any litigation arising out of Plan or Award hereunder in the courts of the State of Delaware or the United States of America, in each case located in the State of Delaware, and further irrevocably and unconditionally waives and
agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting an Award, each Participant 

  
 13 

 
irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and all rights to trial by jury in connection with any litigation arising out of or relating to the
Plan or any Award hereunder. 
 10.14 Restrictions on Shares; Claw-Back Provisions. Awards and shares of Common Stock acquired in
respect of Awards shall be subject to such terms and conditions as the Administrator shall determine, including, without limitation, restrictions on the transferability of shares of Common Stock, the right of the Company to repurchase shares of
Common Stock, the right of the Company to require that shares of Common Stock be transferred in the event of certain transactions, tag-along rights, bring-along rights, redemption and co-sale rights and voting requirements. Such terms and conditions may be additional to those contained in the Plan and may, as determined by the Administrator, be contained in the applicable Award Agreement or in an
exercise notice, stockholders’ agreement or in such other agreement as the Administrator shall determine, in each case in a form determined by the Administrator. The issuance of such shares of Common Stock shall be conditioned on the
Participant’s consent to such terms and conditions and the Participant’s entering into such agreement or agreements. All Awards (including any proceeds, gains or other economic benefit actually or constructively received by Participant
upon any receipt or exercise of any Award or upon the receipt or resale of any shares of Common Stock underlying the Award) shall be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any
claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the applicable
Award Agreement. A Participant shall, as a condition to receiving an Award, agree to execute such further instruments and to take such further action as the Company requests to carry out the purposes and intent of this Section 10.14. 

10.15 Titles and Headings. The titles and headings in the Plan are for convenience of reference only and, if any conflict, the
Plan’s text, rather than such titles or headings, will control. 
 10.16 Conformity to Securities Laws. Participant acknowledges
that the Plan is intended to conform to the extent necessary with Applicable Laws. Notwithstanding anything herein to the contrary, the Plan and all Awards will be administered only in conformance with Applicable Laws. To the extent Applicable Laws
permit, the Plan and all Award Agreements will be deemed amended as necessary to conform to Applicable Laws. 
 10.17 Relationship to
Other Benefits. No payment under the Plan will be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except as
expressly provided in writing in such other plan or an agreement thereunder. 
 10.18 Broker-Assisted Sales. In the event of a
broker-assisted sale of Shares in connection with the payment of amounts owed by a Participant under or with respect to the Plan or Awards, including amounts to be paid under the final sentence of Section 9.5: (a) any Shares to be sold through
the broker-assisted sale will be sold on the day the payment first becomes due, or as soon thereafter as practicable; (b) such Shares may be sold as part of a block trade with other Participants in the Plan in which all participants receive an
average price; (c) the applicable Participant will be responsible for all broker’s fees and other costs of sale, and by accepting an Award, each Participant agrees to indemnify and hold the Company harmless from any losses, costs, damages,
or expenses relating to any such sale; (d) to the extent the Company or its designee receives proceeds of such sale that exceed the amount owed, the Company will pay such excess in cash to the applicable Participant as soon as reasonably
practicable; (e) the Company and its designees are under no obligation to arrange for such sale at any particular price; and (f) in the event the proceeds of such sale are insufficient to satisfy the Participant’s applicable
obligation, the Participant may be required to pay immediately upon demand to the Company or its designee an amount in cash sufficient to satisfy any remaining portion of the Participant’s obligation. 

  
 14 

 10.19 Plan Language. The official language of the Plan shall be English. To the
extent that the Plan or any Award Agreements are translated from English into another language, the English version of the Plan and Award Agreements will always govern, in the event that there are inconsistencies or ambiguities which may arise due
to such translation. 
 10.20 Applicable Currency. The Award Agreement shall specify the currency applicable to such Award. The
Administrator may determine, in its sole discretion, that an Award denominated in one currency may be paid in any other currency based on the prevailing exchange rate as the Administrator deems appropriate. A Participant may be required to provide
evidence that any currency used to pay the exercise price of any Award were acquired and taken out of the jurisdiction in which the Participant resides in accordance with Applicable Laws, including foreign exchange control laws and regulations. In
the absence of a designation in an Award Agreement, the currency applicable to an Award shall be U.S. Dollars. 
 ARTICLE XI. 

DEFINITIONS 
 As used in
the Plan, the following words and phrases will have the following meanings: 
 11.1 “Administrator” means the Board
or a Committee to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee. 
 11.2
“Applicable Laws” means the requirements relating to the administration of equity incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any
stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where Awards are granted. 

11.3 “Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units or Other Stock or Cash Based Awards. 
 11.4 “Award Agreement” means a
written agreement evidencing an Award, which may be electronic, that contains such terms and conditions as the Administrator determines, consistent with and subject to the terms and conditions of the Plan. 

11.5 “Board” means the Board of Directors of the Company. 

11.6 “Cause,” with respect to a Participant, shall have the meaning ascribed to such term, or term of similar effect,
in any offer letter, employment, severance or similar agreement between the Participant and the Company or one of its Related Entities; provided, that in the absence of an offer letter, employment, severance or similar agreement containing such
definition, Cause shall exist in the following circumstances: (a) the material failure of the Participant to perform the Participant’s duties with the Company and its Related Entities or to follow a lawful directive from the Board
(other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for performance is delivered to the Participant by the Board which specifically identifies the manner in which the Board believes that
the Participant has not performed his or her duties or has failed to follow a lawful directive and the Participant continues after a reasonable time to not perform or fail to follow such directive; (b)(i) any act of fraud, or embezzlement or theft,
by the Participant or (ii) the Participant’s admission in any court, or conviction of, or plea of nolo contendere to, a felony or crime of a similar nature in a non-US jurisdiction (excluding
offenses with respect traffic violations); or (c) the Participant’s material violation of, or noncompliance with, any securities laws or stock exchange listing rules, including, without limitation, the

  
 15 

 
Sarbanes-Oxley Act of 2002, provided that such violation or noncompliance resulted in material economic harm to the Company or any of its affiliates. 

11.7 “Change in Control” means any transaction that constitutes a “change in control event” (as defined in
Treasury Regulation Section 1.409A-3(i)(5)) of the Company, or any of the Parent Entities, as applicable; provided that the following events shall not constitute a “Change in Control”: (a) a
“change in the effective control of a corporation” described in Treasury Regulation Section 1.409A-3(i)(5)(vi) of the Company or any such Parent Entity, as applicable, that does not also
constitute a “change in the ownership of a corporation” described in Treasury Regulation Section 1.409A-3(i)(5)(v) of the Company or such Parent Entity; (b) a “change in the effective
control of a corporation” described in Treasury Regulation Section 1.409A-3(i)(5)(vi) of the Company or any Parent Entity in which less than 50% of the outstanding stock of the Company or such Parent
Entity, as applicable, is sold; (c) a “change in the ownership of a substantial portion of the corporation’s assets” described in Treasury Regulation Section 1.409A-3(i)(5)(vii) of the
Company or any Parent Entity in which less than 50% of the total gross fair market value of the assets of the Company or such Parent Entity, as applicable (calculated in a manner consistent with Treasury Regulation
Section 1.409A-3(i)(5)(vii)), are sold; or (d) a “change in control event” (as defined in Treasury Regulation Section 1.409A-3(i)(5)) of the
Company or any Parent Entity in which the Person, or more than one Person acting as a group, acquiring the stock or assets of the Company or such Parent Entity prior to such transaction, directly or indirectly control, are controlled by, or are
under common control with, the Company or the Parent Entities; provided, however, that the consummation of a merger or other combination of the Company or any of the Parent Entities with either Alpha Frontier Limited or Parent Company or one of
their Subsidiaries shall not constitute a Change in Control for purposes of this Plan; provided, further, that there shall not be deemed a Change in Control for purposes of this Plan unless in the aggregate, in either one or a series of
transactions, more than 50% of the outstanding stock or assets of the Company are acquired by a Person, or more than one Person acting as a group, not controlled by, or under common control with, Parent Company or any of the Parent Entities, and for
purposes of this proviso, if any Parent Entity or Subsidiary of such Parent Entity owns stock or assets of the Company or any Subsidiary of the Company, a Change of Control of such Parent Entity, or Subsidiary of such Parent Entity, shall be deemed
an acquisition by such Person(s) of Company stock or assets. Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award (or portion of any Award) that provides for the deferral of compensation that is
subject to Section 409A, to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described in subsection (a), (b), (c) or (d) with respect to such Award (or portion thereof)
shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a “change in control event,” as defined in Treasury Regulation
Section 1.409A-3(i)(5). The Administrator shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change in Control has occurred pursuant to
the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change in
control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation. 

11.8 “Code” means the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder. 

11.9 “Committee” means one or more committees or subcommittees of the Board, which may include one or more Company
directors or executive officers, to the extent Applicable Laws permit. To the extent required to comply with the provisions of Rule 16b-3, it is intended that each member of the Committee will be, at the time
the Committee takes any action with respect to an Award that is subject to Rule 16b-3, a “non-employee director” within the meaning of Rule 16b-3; however, a Committee member’s 

  
 16 

 
failure to qualify as a “non-employee director” within the meaning of Rule 16b-3 will not invalidate any
Award granted by the Committee that is otherwise validly granted under the Plan. 
 11.10 “Common Stock” means the
common stock of the Company. 
 11.11 “Company” means Playtika Holding Corp., a Delaware corporation, or any
successor. 
 11.12 “Consultant” means any person, including any adviser, engaged by the Company or its Related
Entities to render services to such entity if the consultant or adviser: (a) renders bona fide services to the Company; (b) renders services not in connection with the offer or sale of securities in a capital-raising transaction and does
not directly or indirectly promote or maintain a market for the Company’s securities; and (c) is a natural person. 
 11.13
“Designated Beneficiary” means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or
becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate. 

11.14 “Director” means a Board member or a member of the board of any Related Entity who is not an Employee. 

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

11.16 “Dividend Equivalents” means a right granted to a Participant under the Plan to receive the equivalent value (in
cash or Shares) of dividends paid on Shares. 
 11.17 “Employee” means any employee of the Company or its Related
Entities. 
 11.18 “Equity Restructuring” means, as determined by the Administrator, a non-reciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off or recapitalization through a large, nonrecurring cash
dividend, that affects the number or kind of shares of Common Stock (or other securities of the Company) or the share price of Common Stock (or other securities of the Company) and causes a change in the per share value of the Common Stock
underlying outstanding Awards. 
 11.19 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

11.20 “Fair Market Value” means, as of any date, the value of a share of Common Stock determined as follows:
(a) if the Common Stock is listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Common Stock as quoted on such exchange for such date, or if no sale occurred on such date, the last day
preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator deems reliable; (b) if the Common Stock is not traded on a stock exchange but is quoted on a national market or
other quotation system, the closing sales price on such date, or if no sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the
Administrator deems reliable; or (c) without an established market for the Common Stock, the Administrator will determine the Fair Market Value in its discretion. Notwithstanding the foregoing, with respect to any Award granted on the pricing
date of the Company’s initial public offering, the Fair Market Value shall mean the initial public offering price of a Share as set forth in the Company’s final prospectus relating to its initial public offering filed with the Securities
and Exchange Commission. 

  
 17 

 11.21 “Good Reason” shall have the meaning ascribed to such term, or
term of similar effect, in any offer letter, employment, severance or similar agreement between the Participant and the Company or one of its Related Entities; provided, that in the absence of an offer letter, employment, severance or similar
agreement containing such definition, Good Reason shall mean the occurrence, described in a written notice of termination of employment to the Company from the Participant, of any of the following circumstances without the Participant’s express
prior written consent: (a) a material reduction by the Company or its Related Entities in the Participant’s annual base salary (provided that a salary reduction of 10% or more shall be deemed material for this purpose) unless reductions
comparable in amount and duration are concurrently made for all other similarly-situated employees of the Company; (b) the Company or any of its Related Entities requiring the Participant to be based anywhere more than sixty kilometers from the
Participant’s primary business location on the date of this Agreement (except for required travel on Company business to an extent substantially consistent with the Participant’s present business travel obligations); and (c) a
material diminution of the substantial duties or responsibilities of the Participant, taken in the aggregate, as in effect immediately following the closing of the proposed sale of the Company. Notwithstanding the foregoing, a Participant may not
resign his or her employment with Good Reason unless: (x) the Participant provides the Company with at least thirty days prior written notice of his or her intent to resign for Good Reason (which notice is provided not later than sixty days
following the occurrence of the event constituting Good Reason and contains reasonable detail regarding the basis for asserting Good Reason) and (y) the Company has not remedied the violation(s) within the thirty day period, and such
resignation must occur within ninety days of the end of such remedy period. 
 11.22 “Greater Than 10% Stockholder”
means an individual then owning (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or its parent or subsidiary corporation, as defined in
Section 424(e) and (f) of the Code, respectively. 
 11.23 “Incentive Stock Option” means an Option
intended to qualify as an “incentive stock option” as defined in Section 422 of the Code. 
 11.24 “Non-Qualified Stock Option” means an Option not intended or not qualifying as an Incentive Stock Option. 

11.25 “Option” means an option to purchase Shares, which will either be an Incentive Stock option or a Non-Qualified Stock Option. 
 11.26 “Other Stock or Cash Based Awards” means cash
awards, awards of Shares, and other awards valued wholly or partially by referring to, or are otherwise based on, Shares or other property awarded to a Participant under Article VII. 

11.27 “Overall Share Limit” means the sum of (a) 22,000,000 Shares; (b) on the date that is two days prior to the
Public Trading Date, an increase to the Overall Share Limit equal to 3.5% of the total number of Shares that will be outstanding on the closing date of the Company’s initial public offering (calculated on an
as-converted basis and after giving effect to the number of shares of Common Stock to be issued to the public in such offering); and (c) if, on the first day of the calendar month that contains the
anniversary of the Public Trading Date following the Public Trading Date, and each annual anniversary thereafter through and including such calendar month of 2030, the aggregate number of Shares with respect to which Awards may be granted under the
Plan (not including Shares that are subject to outstanding Awards granted under the Plan) is less than 3.5% of the total number of Shares outstanding on such date, an annual increase to the Overall Share Limit on such date in an amount such that the
aggregate number of Shares with respect to which Awards may be granted under the Plan (not including Shares subject to outstanding Awards 

  
 18 

 
granted under the Plan) after such increase is equal to the lesser of (i) 3.5% of the total Shares outstanding on such date or (ii) such number of Shares determined by the Board. 

11.28 “Parent” means any entity whether domestic or foreign, in an unbroken chain of entities ending with the Company,
if each of the entities other the first entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than 50% of the total combined voting power of all classes of securities or interests
in one of the other entities in such chain. 
 11.29 “Parent Company” means Giant Network Group Co., Ltd.
or any successor thereto. 
 11.30 “Parent Entities” means Playtika Holding UK II Limited, Playtika
Holding UK Limited, Alpha Frontier Limited or any Subsidiary or successor thereto of any of these entities. 
 11.31
“Participant” means a Service Provider who has been granted an Award. 
 11.32 “Performance
Criteria” mean the criteria (and adjustments) that the Administrator may select for an Award to establish performance goals for a performance period, which may include the following: net earnings or losses (either before or after one or
more of interest, taxes, depreciation, amortization, and non-cash equity-based compensation expense); gross or net sales or revenue or sales or revenue growth; net income (either before or after taxes) or
adjusted net income; profits (including but not limited to gross profits, net profits, profit growth, net operation profit or economic profit), profit return ratios or operating margin; budget or operating earnings (either before or after taxes or
before or after allocation of corporate overhead and bonus); cash flow (including operating cash flow and free cash flow or cash flow return on capital); return on assets; return on capital or invested capital; cost of capital; return on
stockholders’ equity; total stockholder return; return on sales; costs, reductions in costs and cost control measures; expenses; working capital; earnings or loss per share; adjusted earnings or loss per share; price per share or dividends per
share (or appreciation in or maintenance of such price or dividends); regulatory achievements or compliance; implementation, completion or attainment of objectives relating to research, development, regulatory, commercial, or strategic milestones or
developments; market share; economic value or economic value added models; division, group or corporate financial goals; customer satisfaction/growth; customer service; employee satisfaction; recruitment and maintenance of personnel; human resources
management; supervision of litigation and other legal matters; strategic partnerships and transactions; financial ratios (including those measuring liquidity, activity, profitability or leverage); debt levels or reductions; sales-related goals;
financing and other capital raising transactions; cash on hand; acquisition activity; investment sourcing activity; and marketing initiatives, any of which may be measured in absolute terms or as compared to any incremental increase or decrease.
Such performance goals also may be based solely by reference to the Company’s performance or the performance of a Subsidiary, division, business segment or business unit of the Company or a Subsidiary, or based upon performance relative to
performance of other companies or upon comparisons of any of the indicators of performance relative to performance of other companies. 

11.33 “Plan” means this 2020 Incentive Award Plan. 

11.34 “Public Trading Date” means the first date upon which the Common Stock is listed (or approved for listing) upon
notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system, or, if earlier, the date on which the Company becomes a
“publicly held corporation” for purposes of Treasury Regulation Section 1.162-27(c)(1). 

11.35 “Related Entity” means any Parent, Subsidiary or an affiliate thereof. 

  
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 11.36 “Restricted Stock” means Shares awarded to a Participant under
Article VI subject to certain vesting conditions and other restrictions. 
 11.37 “Restricted Stock Unit” means
an unfunded, unsecured right to receive, on the applicable settlement date, one Share or an amount in cash or other consideration determined by the Administrator to be of equal value as of such settlement date awarded to a Participant under
Article VI subject to certain vesting conditions and other restrictions. 
 11.38 “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act. 

11.39 “Section 409A” means Section 409A of the Code and all regulations,
guidance, compliance programs and other interpretative authority thereunder. 
 11.40 “Securities Act” means the
Securities Act of 1933, as amended. 
 11.41 “Service Provider” means an Employee, Consultant or Director. 

11.42 “Shares” means shares of Common Stock. 

11.43 “Stock Appreciation Right” means a stock appreciation right granted under Article V. 

11.44 “Subsidiary” means any entity (other than the Company), whether domestic or foreign, in an unbroken chain of
entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing at least 50% of the total combined voting power of
all classes of securities or interests in one of the other entities in such chain. 
 11.45 “Substitute Awards”
shall mean Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any
Subsidiary or with which the Company or any Subsidiary combines. 
 11.46 “Termination of Service” means the date
the Participant ceases to be a Service Provider. 
 * * * * * 

  
 20 

 PLAYTIKA HOLDING CORP. 

2020 INCENTIVE AWARD PLAN 

CALIFORNIA SUPPLEMENT 

The Administrator has adopted this supplement for purposes of satisfying the requirements of Section 25102(o) of the California
Corporations Code and the regulations issued thereunder (“Section 25102(o)”). Notwithstanding anything to the contrary contained in the Plan and except as otherwise determined by the
Administrator, the provisions set forth in this supplement shall apply to all Awards granted under the Plan to a Participant who is a resident of the State of California on the date of grant (a “California Participant”) and
which are intended to be exempt from registration in California pursuant to Section 25102(o). This supplement shall not apply to Awards granted to California Participants or after the Public Trading Date. Definitions in the Plan are applicable
to this supplement. 
 1. Limitation on Securities Issuable under the Plan. The amount of securities issued pursuant to the
Plan shall not exceed the amounts permitted under Section 260.140.45 of the California Code of Regulations to the extent applicable. 

2. Additional Limitations On Options.  

(a) Maximum Duration of Options. No Options granted to California Participants will be granted for a term in excess of
ten years. 
 (b) Minimum Exercise Period Following Termination. Unless a California Participant’s Service Provider
relationship is terminated for Cause, in the event of termination of such Participant’s Service Provider relationship, to the extent required by Applicable Laws, he or she shall have the right to exercise an Option, to the extent that he or she
was otherwise entitled to exercise such Option on the date employment terminated, as follows: (i) at least six months from the date of termination, if termination was caused by such Participant’s death or Disability and (ii) at least
thirty days from the date of termination, if termination was caused other than by such Participant’s death or Disability. 
 3.
Additional Limitations For Restricted Stock Awards, Restricted Stock Units and Other Stock-Based Awards. The terms of all Awards granted to California Participants shall comply, to the extent applicable, with
Section 260.140.41 and Section 260.140.42 of the California Code of Regulations. 
 4. Adjustments. The Administrator will
make such adjustments to an Award held by a California Participant as may be required by Section 260.140.41 or Section 260.140.42 of the California Code of Regulations. 

5. Additional Requirement To Provide Information To California Participants. To the extent required by
Section 260.140.46 of the California Code of Regulations, the Company shall provide to each California Participant and to each California Participant who acquires Common Stock pursuant to the Plan, not less frequently than annually, copies of
annual financial statements (which need not be audited). The Company shall not be required to provide such statements to key persons whose duties in connection with the Company assure their access to equivalent information. In addition, this
information requirement shall not apply to the Plan to the extent that it complies with all conditions of Rule 701 of the Securities Act (“Rule 701”) as determined by the Administrator; provided that for purposes of
determining such compliance, any registered domestic partner shall be considered a “family member” as that term is defined in Rule 701. 

  
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 6. Stockholder Approval; Additional Limitations On Timing Of Awards. The
Plan will be submitted for the approval of the Company’s stockholders within twelve months after the date of the Board’s adoption of the Plan. Awards may be granted or awarded prior to such stockholder approval; provided that no Award
granted to a California Participant shall become exercisable, vested or realizable, as applicable to such Award, unless the Plan has been approved by the Company’s stockholders within twelve months before or after the date the Plan was
adopted by the Administrator; and provided, further, that if such approval has not been obtained at the end of said twelve-month period, all Awards previously granted or awarded under the Plan to California Participants shall thereupon be canceled
and become null and void. 

  
 2 

 PLAYTIKA HOLDING CORP. 

2020 INCENTIVE AWARD PLAN 

SUB-PLAN FOR ISRAELI PARTICIPANTS 

1. General. 
 (a) This Sub-Plan for Israeli Participants (the “Sub-Plan”) shall apply only to Participants who are residents of the State of Israel or those who are deemed to
be residents of the State of Israel for tax purposes (collectively, “Israeli Participants”). The provisions specified hereunder shall form an integral part of the Playtika Holding Corp. 2020 Incentive Award Plan (the
“Plan”), which applies to the grant of Awards. The Sub-Plan was approved by the Board effective May 26, 2020. 

(b) The provisions specified hereunder apply only to persons who are deemed to be residents of the State of Israel for tax purposes, or are
otherwise subject to taxation in Israel with respect to Awards. 
 (c) This Sub-Plan applies with
respect to Awards granted under the Plan. The purpose of this Sub-Plan is to establish certain rules and limitations applicable to Awards that may be granted or issued under the Plan from time to time, in
compliance with the tax, securities and other Applicable Laws currently in force in the State of Israel. Except as otherwise provided by this Sub-Plan, all grants made pursuant to this Sub-Plan shall be governed by the terms of the Plan. This Sub-Plan is applicable only to grants made after the date of its adoption. This
Sub-Plan complies with, and is subject to the ITO and Section 102. An Option granted under this Sub-Plan shall be deemed a
Non-Qualified Stock Option for purposes of U.S. taxation. 
 (d) The Plan and this Sub-Plan shall be read together. In any case of contradiction, whether explicit or implied, between the provisions of this Sub-Plan and the Plan, the provisions of this Sub-Plan shall govern. 
 (e) Any capitalized term not specifically defined in this Sub-Plan shall be construed according to the definition or interpretation given to it in the Plan. 
 2.
Definitions. 
 Capitalized terms not otherwise defined herein shall have the meaning assigned to them in the Plan. The following
additional definitions shall apply to grants made pursuant to this Sub-Plan: 
 (a) “3(i)
Option” means a Non-Qualified Stock Option, which is subject to taxation pursuant to Section 3(i) of the ITO, which has been granted to any person who is not an Eligible 102 Participant. 

(b) “102 Capital Gains Track” means the tax alternative set forth in Section 102(b)(2) of the ITO pursuant to
which all or a part of the income resulting from the sale of Shares is taxable as a capital gain. 
 (c) “102 Capital Gains Track
Grant” means a 102 Trustee Grant qualifying for the special tax treatment under the 102 Capital Gains Track. 

  
 1 

 (d) “102 Ordinary Income Track” means the tax alternative set forth
in Section 102(b)(1) of the ITO pursuant to which income resulting from the sale of Shares derived from Awards is taxed as ordinary income. 

(e) “102 Ordinary Income Track Grant” means a 102 Trustee Grant qualifying for the ordinary income tax treatment under
the 102 Ordinary Income Track. 
 (f) “102 Trustee Grant” means an Award granted pursuant to Section 102(b) of
the ITO and held in trust by a Trustee for the benefit of the Eligible 102 Participant, and includes both 102 Capital Gains Track Grants and 102 Ordinary Income Track Grants. 

(g) “Controlling Shareholder” as defined in Section 32(9) of the ITO, currently defined as an individual who
prior to the grant or as a result of the grant or exercise of any Award, holds or would hold, directly or indirectly, in his name or with a relative (as defined in the ITO) (i) 10% of the outstanding share capital of the Company, (ii) 10% of the
voting power of the Company, (iii) the right to hold or purchase 10% of the outstanding equity or voting power, (iv) the right to obtain 10% of the “profit” of the Company (as defined in the ITO), or (v) the right to appoint
a director of the Company. 
 (h) “Deposit Requirements” shall mean with respect a 102 Trustee Grant, the
requirement to evidence deposit of an Award with the Trustee, in accordance with Section 102, in order to qualify as a 102 Trustee Grant. As of the time of approval of this Sub-Plan, the ITA guidelines
regarding Deposit Requirements for 102 Capital Gains Track Grants require that the Trustee be provided with (i) the resolutions approving Awards intended to qualify as 102 Capital Gains Track Grants within forty-five days of the date of
Administrator’s approval of such Award, including full details of the terms of the Awards, and (ii) a copy of the Award Agreement executed by the Eligible 102 Participant and/or Eligible 102 Participant’s consent to the requirements
of the 102 Capital Gains Track Grant within ninety days of the Administrator’s approval of such Award, and (iii) with respect to a grant or sale of Shares, either a share certificate and copy of the Company’s share register evidencing
issuance of the Shares underlying such Award in the name of the Trustee for the benefit of the Eligible 102 Participant, or deposit of the Shares with a financial institution in an account administered in the name of the Trustee, as applicable, in
each case, within ninety days of the date of the Administrator’s approval of such Award. 
 (i) “Election”
means the Company’s choice of the type of 102 Trustee Grants it shall make under the Plan (as between capital gains track or ordinary income track), as filed with the ITA. 

(j) “Eligible 102 Participant” means a Participant who is a person employed by the Company or its subsidiary or
affiliate, including an individual who is serving as a director (as defined in the ITO) or an office holder (as defined in the ITO), who is not a Controlling Shareholder. 

(k) “Israeli Fair Market Value” shall mean with respect to 102 Capital Gains Track Grants only, for the sole purpose
of determining tax liability pursuant to Section 102(b)(3) of the ITO, if at the date of grant the Shares are listed on any established stock exchange or a national market system or if the Shares shall be registered for trading within ninety
days following the date of grant, the fair market value of the Shares at the date of grant shall be determined in accordance with the average value of the Shares on the thirty trading days preceding the date of grant or on the thirty trading days
following the date of registration for trading, as the case may be. 
 (l) “ITA” means the Israel Tax Authority.

  
 2 

 (m) “ITO” means the Israeli Income Tax Ordinance (New Version),
1961, and the rules, regulations, orders or procedures promulgated thereunder and any amendments thereto, including specifically the Rules, all as may be amended from time to time. 

(n) “Non-Trustee Grant” means an Award granted to an Eligible 102 Participant
pursuant to Section 102(c) of the ITO and not held in trust by a Trustee. 
 (o) “Required Holding Period”
means the requisite period prescribed by the ITO and the Rules, or such other period as may be required by the ITA, with respect to 102 Trustee Grants, during which Awards granted by the Company must be held by the Trustee for the benefit of the
person to whom it was granted. As of the date of the adoption of this Sub-Plan, the Required Holding Period for 102 Capital Gains Track Grants is 24 months from the date of grant of the Award. 

(p) “Rules” means the Income Tax Rules (Tax Benefits in Share Issuance to Employees) 5763-2003. 

(q) “Section 102” shall mean the provisions of Section 102 of the ITO, as
amended from time to time, including by the Law Amending the Income Tax Ordinance (Number 132), 2002, effective as of January 1, 2003 and by the Law Amending the Income Tax Ordinance (Number 147), 2005. 

(r) “subsidiary or affiliate” for the purpose of grants made under this
Sub-Plan, means any “employing company” within the meaning of Section 102(a) of the ITO. 

(s) “Trustee” means a person or entity designated by the Administrator to serve as a trustee and approved by the ITA
in accordance with the provisions of Section 102(a) of the ITO. 
 3. Types of Awards and Section 102
Election. 
 (a) Awards made as 102 Trustee Grants shall be made pursuant to either (i) Section 102(b)(2) of the ITO as 102
Capital Gains Track Grants or (ii) Section 102(b)(1) of the ITO as 102 Ordinary Income Track Grants. The Company’s Election regarding the type of 102 Trustee Grant it chooses to make shall be filed with the ITA. Once the Company (or
its subsidiary or affiliate) has filed such Election, it may change the type of 102 Trustee Grant that it chooses to make only after the passage of at least 12 months from the end of the calendar year in which the first grant was made in accordance
with the previous Election, in accordance with Section 102. For the avoidance of doubt, such Election shall not prevent the Company from granting Non-Trustee Grants to Eligible 102 Participants at any
time. 
 (b) Eligible 102 Participants may receive only 102 Trustee Grants or Non-Trustee Grants
under this Sub-Plan. Participants who are not Eligible 102 Participants may be granted only 3(i) Options under this Sub-Plan. 

(c) No 102 Trustee Grants may be made effective pursuant to this Sub-Plan until thirty days after the
date the requisite filings required by the ITO and the Rules, including the filing of the Plan and Sub-Plan, have been made with the ITA. 

(d) The Award Agreement shall indicate whether the grant is a 102 Trustee Grant, a Non-Trustee Grant
or a 3(i) Option; and, if the grant is a 102 Trustee Grant, whether it is a 102 Capital Gains Track Grant or a 102 Ordinary Income Track Grant. 

4. Terms and Conditions of 102 Trustee Grants. 

  
 3 

 (a) Each 102 Trustee Grant shall be deemed granted on the date approved by the Administrator
and stated in a written or electronic notice by the Company, provided that its qualification as a 102 Trustee Grant shall be dependent upon the Company’s and the Trustee’s compliance with any applicable requirements set forth by the ITA
with regard to such grants. 
 (b) Each 102 Trustee Grant granted to an Eligible 102 Participant and each certificate for Shares acquired
pursuant to a 102 Trustee Grant shall be deposited with a Trustee in compliance with the Deposit Requirements and held in trust by the Trustee (or be subject to a supervisory trustee arrangement if approved by the ITA). After termination of the
Required Holding Period, the Trustee may release such Awards and any Shares issued with respect to such Award, provided that (i) the Trustee has received an acknowledgment from the ITA that the Eligible 102 Participant has paid any applicable
tax due pursuant to the ITO or (ii) the Trustee and/or the Company or its subsidiary or affiliate withholds any applicable tax due pursuant to the ITO. The Trustee shall not release any 102 Trustee Grants or shares issued with respect to the
102 Trustee Grants prior to the full payment of the Eligible 102 Participant’s tax liabilities. 
 (c) Each 102 Trustee Grant shall be
subject to the relevant terms of Section 102 and the ITO, which shall be deemed an integral part of the 102 Trustee Grant and shall prevail over any term contained in the Plan, this Sub-Plan or Award
Agreement that is not consistent therewith. Any provision of the ITO and any approvals of the ITA not expressly specified in this Sub-Plan or any document evidencing an Award that are necessary to receive or
maintain any tax benefit pursuant to the Section 102 shall be binding on the Eligible 102 Participant. The Trustee and the Eligible 102 Participant granted a 102 Trustee Grant shall comply with the ITO, and the terms and conditions of the trust
agreement entered into between the Company and the Trustee (the “Trust Agreement”). For avoidance of doubt, it is reiterated that compliance with the ITO specifically includes compliance with the Rules. Further, the Eligible
102 Participant agrees to execute any and all documents which the Company or the Trustee may reasonably determine to be necessary in order to comply with the provision of any Applicable Law, and, particularly, Section 102. With respect to 102
Capital Gain Track Grants, to the extent that the Shares are listed on any established stock exchange or a national market system, the provisions of Section 102(b)(3) of the ITO shall apply with respect to the Israeli tax rate applicable to
such Awards. 
 (d) Unless determined otherwise by the Administrator, as long as the Trustee holds the Shares received subsequently
following any realization of rights derived from Awards or Shares, the voting rights attached to such Shares will remain with the Trustee. However, the Trustee shall not be obligated to exercise such voting rights nor notify the Participant of
Shares held in the Trust, of any meeting of the Company’s shareholders or any resolutions adopted by written consent of shareholders. Without derogating from the above, with respect to 102 Awards, such Shares shall be voted in accordance with
the provisions of Section 102 and any rules, regulations or orders promulgated thereunder. 
 (e) During the Required Holding Period,
the Eligible 102 Participant shall not require the Trustee to release or sell the Awards and Shares received subsequently following any realization of rights derived from Awards or Shares (including stock dividends) to the Eligible 102 Participant
or to a third party, unless permitted to do so by Applicable Law. Notwithstanding the foregoing, the Trustee may, pursuant to a written request and subject to Applicable Law, release and transfer such Shares to a designated third party, provided
that both of the following conditions have been fulfilled prior to such transfer: (i) all taxes required to be paid upon the release and transfer of the shares have been withheld for transfer to the tax authorities and (ii) the Trustee has
received written confirmation from the Company that all requirements for such release and transfer have been fulfilled according to the terms of the Company’s corporate documents, the Plan, any applicable Award Agreement and applicable law. To
avoid doubt such sale or release during the Required Holding Period shall result in different tax ramifications to the Eligible 102 Participant under Section 102 of the ITO and the Rules and/or any other regulations or orders or procedures
promulgated thereunder, which shall apply to and shall be borne solely by such Eligible 102 

  
 4 

 
Participant (including tax and mandatory payments otherwise payable by the Company or its subsidiary or affiliate, which would not apply absent a sale or release during the Required Holding
Period). 
 (f) In the event a stock dividend is declared and/or additional rights are granted with respect to Shares which derive from
Awards granted as 102 Trustee Grants, such dividend and/or rights shall also be subject to the provisions of this Section 4 and the Required Holding Period for such dividend shares and/or rights shall be measured from the commencement of the
Required Holding Period for the Award with respect to which the dividend was declared and/or rights granted. In the event of a cash dividend on Shares, the Trustee shall transfer the dividend proceeds to the Eligible 102 Participant in accordance
with the Plan after deduction of taxes and mandatory payments in compliance with applicable withholding requirements, and subject to any other requirements imposed by the ITA. 

(g) If an Award granted as a 102 Trustee Grant is exercised during the Required Holding Period, the Shares issued upon such exercise shall be
issued in the name of the Trustee for the benefit of the Eligible 102 Participant (or be subject to a supervisory trustee arrangement if approved by the ITA). If such a, Award is exercised or settled after the Required Holding Period ends, the
Shares issued upon such exercise or settlement shall, at the election of the Eligible 102 Participant, either (i) be issued in the name of the Trustee (or be subject to a supervisory trustee arrangement if approved by the ITA), or (ii) be
transferred to the Eligible 102 Participant directly, provided that the Eligible 102 Participant first complies with all applicable provisions of the Plan and this Sub-Plan. 

(h) To avoid doubt: (i) notwithstanding anything to the contrary in the Plan, including without limitation 5.5 thereof, payment upon
exercise or purchase of Awards granted as a 102 Trustee Grant, may only be paid by cash or check, and not by surrender or withholding of Shares, or by reduction of Shares pursuant to a “net exercise” arrangement, or other forms of payment,
unless and to the extent permitted under Section 102 or as expressly authorized by the ITA; (ii) notwithstanding anything to the contrary in the Plan, including without limitation Section 6.2(a) and Section 6.3(c) thereof, to the
extent required by the ITA, dividend equivalents may not be settled in Shares with respect to Awards granted under the 102 Capital Gains Track without the prior approval of the ITA; (iii) notwithstanding anything to the contrary in the Plan,
including without limitation Article 8 thereof, certain adjustments and amendments to the terms of Awards granted under the 102 Capital Gains Track, including pursuant to exchange programs, recapitalization events and so forth, may disqualify the
Awards from benefitting from the tax benefits under the 102 Capital Gains Track, unless the prior approval of the ITA is obtained; (iv) notwithstanding anything to the contrary in the Plan, repurchase rights with regard to Awards made as 102
Capital Gains Track Grants shall be subject to the express approval of the ITA; (v) notwithstanding anything to the contrary in the Plan, Awards granted under the 102 Capital Gains Track may only be settled in Shares and not in cash;
(vi) Awards based on the achievement of performance “targets” may require the approval of the ITA in order to qualify under the 102 Capital Gains Track; (vii) notwithstanding anything to the contrary in the Plan, including
without limitation Section 10.14 thereof, a claw-back policy shall not apply to Awards granted under the 102 Capital Gains Track; and (viii) the Trustee may require actual written signatures on certain documents for compliance with
Section 102 requirements. 
 5. Assignability. As long as Awards or Shares are held by the Trustee on behalf of the
Eligible 102 Participant, all rights of the Eligible 102 Participant over the Shares are personal, cannot be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution. 

6. Tax Consequences. 

(a) Any tax consequences arising from the grant or settlement of any Award, the exercise of any Option, the issuance, sale or transfer and
payment for the Shares covered by an Award, or from any other event or act (of the Company and/or its subsidiary or affiliate and/or the Trustee and/or the 

  
 5 

 
Participant) relating to an Award or Shares issued thereupon shall be borne solely by the Participant. The Company and/or its subsidiary or affiliate, and/or the Trustee shall withhold taxes
according to the requirements under the Applicable Laws, rules, and regulations, including withholding taxes at source. Furthermore, the Participant shall agree to indemnify the Company and/or its subsidiary or affiliate and/or the Trustee and hold
them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax from any payment made to the
Participant. The Company or any of its subsidiaries or affiliates, and the Trustee may make such provisions and take such steps as it/they may deem necessary or appropriate for the withholding of all taxes required by law to be withheld with respect
to an Award granted under the Plan and the exercise, sale, transfer or other disposition thereof, including, but not limited, to (i) deducting the amount so required to be withheld from any other amount then or thereafter payable to a
Participant, including by deducting any such amount from a Participant’s salary or other amounts payable to the Participant, to the maximum extent permitted under law; and/or (ii) requiring a Participant to pay to the Company or any of its
subsidiaries or affiliates the amount so required to be withheld; and/or (iii) withholding otherwise deliverable Shares having a Fair Market Value equal to the minimum amount statutorily required to be withheld; and/or (iv) selling a
sufficient number of such Shares otherwise deliverable to a Participant through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld either through a
voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to the Participant’s authorization as expressed by acceptance of the Award under the terms herein), to the extent permitted by
applicable law or pursuant to the approval of the ITA. In addition, the Participant shall be required to pay any amount (including penalties) that exceeds the tax to be withheld and transferred to the tax authorities, pursuant to applicable tax
laws, regulations and rules. 
 (b) The Company does not represent or undertake that an Award shall qualify for or comply with the
requisites of any particular tax treatment (such as the “capital gains track” under Section 102), nor shall the Company, its assignees or successors be required to take any action for the qualification of any Award under such tax
treatment. The Company shall have no liability of any kind or nature in the event that, as a result of application of applicable law, actions by the Trustee or any position or interpretation of the ITA, or for any other reason whatsoever, an Award
shall be deemed to not qualify for any particular tax treatment. 
 (c) With respect to Non-Trustee
Grants, if the Eligible 102 Participant ceases to be employed by the Company or any subsidiary or affiliate, the Eligible 102 Participant shall extend to the Company and/or its subsidiary or affiliate a security or guarantee for the payment of tax
due at the time of sale of Shares to the satisfaction of the Company, all in accordance with the provisions of Section 102 of the ITO and the Rules. 

7. Securities Laws. All Awards hereunder shall be subject to compliance with the Israeli Securities Law, 1968, and the rules and
regulations promulgated thereunder. 
 8. Termination of Service. It is hereby clarified that the Termination of Service of an
Israeli Participant who is an Employee of the Company and/or the Israeli Affiliate, as the case may be, shall be the termination of the employee-employer relationship between the Israeli Participant and the Company and/or the Israeli Affiliate, as
the case may be. 
 9. Governing Law. The validity and enforceability of this Sub-Plan shall
be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to the provisions governing conflict of laws, except to the extent that mandatory provisions of the laws of the State of Israel apply,
such as tax laws and labor laws. 

  
 6

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