Document:

EX-10.9

 Exhibit 10.9 

ALTAIR ENGINEERING INC. 

2012 INCENTIVE AND NON-QUALIFIED STOCK OPTION PLAN 

INCENTIVE STOCK OPTION AGREEMENT 

(AS AMENDED AS OF APRIL 3, 2017) 
 For the
purpose of (a) encouraging and enabling selected management, other employees, and directors of the Company to acquire a proprietary interest in the Common Stock of the Company, (b) attracting, retaining and motivating Participants to
attain exceptional levels of performance and (c) providing Participants with an opportunity to participate in the increased value of the Company which their efforts, initiative, and skill have helped produce, the Company, pursuant to the terms
and conditions of the Altair Engineering Inc. 2012 Incentive and Non-qualified Stock Option Plan, will award Options to purchase Common Stock to certain Participants. 

This Agreement, entered into pursuant to the terms of the Plan, evidences that the Board has designated «FName» «LName»
(“Participant”) as a participant under the Plan, has awarded Incentive Stock Options to Participant to purchase «Options» Shares, has designated «DATE» as the Award Date for such Options, has
designated the sum of «PRICE» Dollars as the Exercise Price, and, subject to the provisions of this Agreement, has designated the period from «DATE» to «DATE» as the Exercise Period applicable to
such Options. 
 The grant, holding, and exercise of such Incentive Stock Options shall be subject to the terms and conditions of the Plan and the
following: 
 1. Definitions. 

(a) “Agreement” means this “Incentive Stock Option Agreement” between the Company and Participant. 

(b) “Award” shall mean any grant of Incentive Stock Options made to Participant under the Plan and this Agreement. 

(c) “Award Date” means the date designated by the Board as of which Options are awarded to Participant under the Plan. 

(d) “Board” shall mean the Board of Directors of the Company. 

(e) “Change in Control” shall be deemed to occur upon: 

(1) the acquisition (whether by merger, consolidation, share exchange, tender offer or similar form of corporate transaction) (a “Business
Combination”) by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 50% or more of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”),
unless immediately following such Business Combination the holders of more than 50% of the total voting power of the Outstanding Company Voting Securities immediately prior to such Business Combination own more than 50% of the total voting power of
(x) the entity resulting from such Business Combination (the “Surviving Company”) or (y) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible to
elect a majority of the members of the board of directors (or the analogous governing body) of the Surviving Company; provided, however, that for purposes of this Plan, the following acquisitions shall not constitute a Change in Control:
(I) any acquisition by the Company of its Outstanding Company Voting Securities, (II) any acquisition by any employee benefit plan sponsored or maintained by the Company, (III) any acquisition of Outstanding Company Voting Securities
by investment entities affiliated with General Atlantic Partners, LLC or any group of which such investment entities affiliated with General Atlantic Partners, LLC are a member, or (IV) in respect of an Option held by a particular Participant,
any acquisition by the Participant or any group of persons including the Participant (or any entity controlled by the Participant or any group of persons including the Participant); 

(2) the dissolution or liquidation of the Company; or 

  

					
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 (3) the sale, transfer or other disposition of all or substantially all of the assets of the
Company. 
 Consistent with the terms of this Section 2(b), the Board shall have full and final authority to determine conclusively whether
a Change in Control of the Company has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto. 

(f) “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, together with the regulations and official
guidance promulgated thereunder. 
 (g) “Common Stock” means the Class A common capital stock of the Company. 

(h) “Company” shall mean Altair Engineering Inc., a Michigan corporation and any Subsidiary of the Company. 

(i) “Employee” shall mean any individual who is employed, within the meaning of Section 3401 of the Code and the regulations
promulgated thereunder, by the Company. The Board shall be responsible for determining when an Employee’s period of employment is deemed to be continued during an approved leave of absence. 

(j) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(k) “Exercise Period” means the period of time specified by the Board on the Award Date and set forth in the second paragraph of this
Agreement within which a Participant may exercise an Option, which period has been determined by the Board pursuant to the Plan, subject however to the Board’s exercise of its discretion pursuant to the provisions hereof. 

(l) “Exercise Price” means the price per Share specified by the Board and set forth in the second paragraph of this Agreement at
which the Participant may exercise an Option during the Exercise Period, which price has been determined by the Board pursuant to the Plan. 

(m) “Fair Market Value” shall mean the value of each Share determined as of any specified date as follows: 

(1) If the Shares are traded on any United States securities exchange, or if the Shares are not traded on any United States securities exchange
but are traded on any formal over-the-counter quotation system in general use in the United States, the value per Share shall be the closing price on such exchange or
quotation system on the business day immediately preceding such specified date; provided, however, that if no Shares are traded on the business day immediately preceding such specified date, the value per Share shall be the mean between the closing
high bid and closing low asked quotations on the business day immediately preceding such specified date; or 
 (2) If Paragraph (1) does
not apply, the value per Share shall be determined by the Board in accordance with Section 4 in good faith and based on uniform principles consistently applied. Such determination shall be conclusive and binding on all persons. 

(n) “Incentive Stock Option” or “Option” means a right granted under the Plan and this Agreement to purchase Share(s) at a
specified Exercise Price within a specified Exercise Period, which right is intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, or any successor provision thereto. 

(o) “Non-qualified Stock Option” shall mean an Option granted under the Plan and this
Agreement which does not qualify as an Incentive Stock Option. 
 (p) “Participant” shall have the meaning set forth in the second
paragraph of this Agreement. 
 (q) “Plan” shall mean the Altair Engineering Inc. 2012 Incentive and
Non-qualified Stock Option Plan. 

  

					
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 (r) “Purchase Price” shall mean, at any specified time, the Exercise Price per Share
multiplied by the number of Shares being purchased pursuant to the exercise of an Option. 
 (s) “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 (t) “Share” shall mean one authorized share of Common Stock. 

(u) “Subsidiary” shall mean any corporation or other business entity (other than the Company) in an unbroken chain of corporations
and/or other business entities beginning with the Company if, at the time of granting an Option, each of the corporations and/or other business entities (other than the last business entity in the unbroken chain) owns stock possessing at least 50%
of the total combined voting power of all classes of ownership in one of the other corporations and/or other business entities in such chain. 

(v) “Termination of Employment” means the termination of the Participant’s employment with the Company or a Subsidiary, but not
the transfer of employment from the Company to a Subsidiary of the Company or vice versa or from one Subsidiary of the Company to another such Subsidiary. If the Board in its sole discretion so determines, employment shall not be considered as
terminated for the purposes of Section 2(g) so long as Participant continues to perform services for the Company or a Subsidiary thereof on either a full or part time basis. 

(w) “Vest”, “Vesting” or “Vested” shall mean the event or point in time at which an Option becomes exercisable
for the first time pursuant to the terms of this Agreement. 
 (x) “Vested Options” shall mean the Options as to which Participant
has become one hundred (100%) percent vested pursuant to the provisions of Section 2(d) of this Agreement. 
 2. Terms and Conditions of Options.

 (a) Person Eligible to Exercise. During Participant’s lifetime, only Participant or, in the event of disability,
Participant’s conservator or legal representative may exercise an Option granted under the Plan and such Option shall not be transferable or assignable. After the death of Participant, any Options held by Participant prior to death that
continue to be exercisable may be exercised by Participant’s personal representative or by any person empowered to do so by will or by the laws of descent and distribution. The terms of the Plan and this Agreement, as well as the
interpretations and decisions of the Board, shall be binding upon any such conservator, legal representative, personal representative, or other person acting on behalf of or in lieu of the Participant. 

(b) Manner of Exercise. Subject to the provisions of Paragraphs (c), (d) and (e) hereof, Participant may exercise an Option on any
business day of the Company within the Exercise Period by delivery to the Company at the Company’s principal office, either by mail, facsimile, or in person, of a properly completed notice of exercise, on a form approved by the Board, together
with full payment of the Purchase Price and the Federal, state and local tax withholding obligation as hereinafter provided for. The date such form is received by the Company shall be the date of exercise. Such form shall specify the Participant,
Participant’s Social Security number, the Award Date, the number of Options being exercised, the Exercise Price, the Purchase Price and the manner in which the Participant intends to satisfy any applicable tax withholding obligation. The
minimum number of Options that may be exercised at any one time shall be for 100 Shares or, if less, the aggregate number of Shares for which there are outstanding Options then credited to Participant and exercisable. In the event the Option is
being exercised pursuant to Paragraph (a) hereof by any person other than Participant, such person shall also submit at the time of exercise satisfactory proof of the right of such person to exercise the Option. 

(c) Exercise of Options. Participant may exercise an Option only on or after the date on which the Option Vests, as provided in
Subsection (d) below, and only on or before the date on which the Option expires, as provided in Subsection (e) below. 
 (d)
Vesting of Options. A Participant may exercise an Option to purchase Shares only on or after the date the Option has Vested with respect to such Shares. 

(i) Subject to the exceptions set forth below, in the event that a Participant experiences a Termination of Employment for any reason, or for
no reason, whether voluntarily or involuntarily, prior to 

  

					
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the date which is four (4) years from and after the Award Date, Participant shall not have any Vested rights in the Options. 

(ii) Participant shall immediately become 100% Vested in the Options upon the occurrence of any of the following: 

(A) the death or Disability of the Participant; 

(B) the Participant has not experienced a Termination of Employment prior to the date which is four (4) years from and after the Award
Date; or 
 (C) the sale of all or substantially all of the assets or common capital stock of the Company. 

(iii) In the event that a Participant experiences a Termination of Employment for any reason other than death, Disability or the sale of all or
substantially all of the assets or common capital stock of the Company, prior to the date which is four (4) years from and after the Award Date, the Participant shall become vested in a portion of the Shares in accordance with the following
vesting schedule: 
  

			
	 Years of Employment after Award Date
	  	Percentage of Shares
as to which Participant
Becomes 100% Vested
	 Less than 12 Months
	  	0%
	 At least 12 Months but less than 24 Months
	  	25%
	 At least 24 Months but less than 36 Months
	  	50%
	 At least 36 Months but less than 48 Months
	  	75%
	 At least 48 Months
	  	100%

 (iv) Upon the earlier to occur of (A) the expiration of the Exercise Period and (B) the termination
of the Option pursuant to the provisions of Paragraph (e) hereof, any and all Options which are not Vested pursuant to the provisions of this Paragraph (d) shall forthwith be forfeited and surrendered to the Company without consideration,
irrespective of the then current fair market value of any such Options. 
 (e) Term and Lapse of Options. An Option shall terminate
immediately upon the first to occur of the following events: 
 (i) The tenth anniversary of the date that an Incentive Stock Option was
granted; provided, however, that in the case of an Incentive Stock Option granted to a Participant owning, actually or constructively under Section 424(d) of the Code, more than 10% of the total combined voting power of all classes of stock of the
Company (a “10% Stockholder”), such Option, by its terms, shall be exercisable only within five years from the Award Date. 
 (ii)
The date determined under Section 2(f) for a Participant who ceases to be an Employee by reason of the Participant’s death or total and permanent disability, within the meaning of Section 22(e)(3) of the Code unless the Board at its discretion
extends such date before the applicable expiration date (provided, that upon any such extension, in the event that a Participant fails to exercise any Incentive Stock Option on or before the date which is twelve months after the date the Participant
ceases to be an Employee, such Incentive Stock Option shall thereupon become a Non-qualified Stock Option); 

(iii) The date determined under Section 2(g) for a Participant who ceases to be an Employee for any reason, other than by reason of death or
total and permanent disability, unless the Board at its discretion extends such date before the applicable expiration date (provided, that upon any such extension, in the event that a Participant fails to exercise any Incentive Stock Option on or
before the date which is three months after the date the Participant ceases to be an Employee, such Incentive Stock Option shall thereupon become a Non-qualified Stock Option); or 

(iv) The expiration of the Exercise Period. 

  

					
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 (f) Death or Disability of Participant. In the event that Participant experiences a
Termination of Employment by reason of the Participant’s death or total and permanent disability (within the meaning of Section 22(e)(3)of the Code), any Option granted to the Participant may be exercised, to the extent it was Vested on the
effective date of Participant’s Termination of Employment, at any time within 12 months after the Participant’s death (but not beyond the otherwise applicable term of the Option) by the Participant’s conservator or legal
representative, by the executors or administrators of the Participant’s estate or by any person who has acquired the Option directly from the Participant by will or the laws of descent and distribution. 

(g) Termination Other than by Death or Disability. 

(i) If Participant experiences a Termination of Employment for any reason other than death or total and permanent disability (as defined in
Section 2(f)), any unexercised Option (whether Vested or not) shall expire at 12:00 p.m. on the 90th day following the effective date of the Participant’s Termination of Employment with the Company. In addition, the Board may, in its sole and
absolute discretion, Vest any non-Vested Options within 30 days following such Termination of Employment. 

(ii) For purposes of this Section 2(g), the employment relationship shall be treated as continuing intact while the Participant is an active
Employee or is on military leave, sick leave or other bona fide leave of absence, as determined by the Board in its discretion. The preceding sentence notwithstanding, in the case of an Incentive Stock Option, employment shall be deemed to terminate
on the date the Participant ceases to be an active Employee unless the Participant’s reemployment rights are guaranteed by statute or contract. 

(h) Payment and Issuance. Shares acquired pursuant to the exercise of Options shall be paid for in full at the time of exercise, in cash
(in U.S. dollars) as a condition of such exercise, unless the Board, in its sole and absolute discretion allows the Participant to pay the Purchase Price in any manner set forth below, so long as the sum of cash so paid and such other consideration
equals the Purchase Price. A certificate for the net amount of Shares attributable to an exercise shall be issued to Participant as soon as practicable following payment of the aggregate Purchase Price and all applicable withholding taxes. 

(i) Payment of the Purchase Price for any Shares purchased pursuant to the Plan may be made, where expressly approved for the Participant by
the Board, in its sole and absolute discretion, and where permitted by law: 
 (A) By check; 

(B) By cancellation of indebtedness of the Company to the Participant; 

(C) By surrender of Shares, provided that the Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price
of the Shares as to which the Option is exercised and provided that accepting such Shares, in the sole discretion of the Board, shall not result in any adverse accounting consequences to the Company; 

(D) By waiver of compensation due or accrued to Participant for services rendered; 

(E) With respect only to purchases upon exercise of an Option, and provided that a public market for the Company’s stock exists
(A) through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD dealer”) whereby Participant irrevocably elects to exercise the
Option and to sell a portion of the Shares so purchased to pay for the Purchase Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Purchase Price directly to the Company; or (B) through a
“margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin account as security for a loan from the NASD Dealer
in the amount of the Purchase Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Purchase Price directly to the Company; 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	5	  	

 (F) In the event that no public market for the Company’s stock exists, by the issuance of
Shares equal in value to the excess of (A) the then Fair Market Value of the Shares being purchased over (B) the Purchase Price for the Shares being purchased; or 

(G) By any combination of the foregoing. 

(ii) The Board may help the Participant pay for Shares purchased under this Option Agreement by authorizing a guarantee by the Company of a
third-party loan to the Participant. 
 (i) Non-Registration. Regardless of whether the Shares
to be issued hereunder upon the exercise of an Option have been registered under the Securities Act or have been registered or qualified under the securities laws of any state, the Company may impose restrictions upon the sale, pledge, or other
transfer of such Shares (including the placement of appropriate legends on stock certificates) if, in the judgment of the Company and its counsel, such restrictions are necessary or desirable to achieve compliance with the provisions of the
Securities Act, the securities laws of any state, or any other law. If the Shares to be issued hereunder upon the exercise of an Option have not been registered under the Securities Act, or a registration is not then currently effective with respect
to such Shares, and the Company determines that the registration requirements of the Securities Act apply but an exemption is available which requires an investment representation or other representation, the Participant shall be required, as a
condition to acquiring such Shares, to represent that such Shares are being acquired for investment, and not with a view to the sale or distribution thereof, except in compliance with the Securities Act, and to make such other representations as are
deemed necessary or appropriate by the Company and its counsel, and that Participant or other person then entitled to exercise such Option will indemnify the Company against and hold it free and harmless from any loss, damages, expense or liability
resulting to the Company if any sale or distribution of the Shares by such person is contrary to the representation and agreement referred to above. The Board may take whatever additional actions it reasonably deems appropriate to ensure the
observance and performance of such representation and agreement and to effect compliance with the Securities Act and any other Federal or state securities laws or regulations, including but not limited to Rule 144 promulgated under the Securities
Act. Without limiting the generality of the foregoing, the Board may require an opinion of counsel acceptable to it to the effect that any subsequent transfer of Shares acquired on an Option exercise does not violate the Securities Act, and may
issue stop-transfer orders covering such Shares. 
 Stock certificates evidencing Shares acquired pursuant to an unregistered transaction to
which the Securities Act applies shall bear a restrictive legend substantially in the following form and such other restrictive legends as are required or deemed advisable under the Plan or the provisions of any applicable law: 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (“ACT”) OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY FOREIGN JURISDICTION. THEY MAY NOT BE TRANSFERRED, SOLD OR OFFERED FOR SALE EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE AND FOREIGN SECURITIES LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. 
 (j) Exercise of Unvested Options. 

(i) Purpose of Section. This Section is intended to apply for the benefit of Participant prior to the time Shares held by the
Participant are freely transferable under applicable federal and state securities laws without the Participant holding the Shares for a minimum period of time (e.g., the holding period requirement of Rule 144 adopted by the Securities and Exchange
Commission under the Securities Act). More specifically, if the Participant holds an unvested Option, he or she may commence this holding period for the Shares subject to the Option by exercising the unvested Option and receiving Shares of
restricted stock which will Vest on the same date as the Option would have Vested. In this way, the Participant is able to begin the holding period for the Shares prior to the date the Option would have Vested. 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	6	  	

 (ii) Exercise of Unvested Options and Issuance of Restricted Stock. The Board, at its
discretion, may grant Participant the right to exercise any Option prior to the Vesting of such Option, provided that the Shares issued upon such exercise shall remain subject to Vesting, as restricted stock, at the same rate as under the Option so
exercised and (A) Shares issued pursuant to an Option which is Vested or which thereafter become Vested shall be subject to the terms and conditions of the Company’s Stock Restriction and Repurchase Agreement – 2012 Incentive
and Non-Qualified Stock Option Plan (Key Employee) (the “Stock Restriction and Repurchase Agreement”) and (B) Shares issued pursuant to an Option which is not Vested on or before the
applicable date described in Section 2 for determining the forfeiture or lapsing of the Option pursuant to which such Shares were issued pursuant to this Section, shall be forfeited at the Exercise Price paid by the Participant to the Company
to acquire such Shares. 
 3. Limitations on Shares. 

(a) Shares Subject to Stock Restriction and Repurchase Agreement. All Shares issued hereunder upon the exercise of an Option shall be
subject to the terms and conditions of the Company’s Stock Restriction and Repurchase Agreement and the Company shall place legends on stock certificates representing that the Shares are subject to such Stock Restriction and Repurchase
Agreement. 
 (b) Limitations on Incentive Stock Options. It is the intent of the Board that all options granted hereunder qualify as
of the Award Date as Incentive Stock Options. Nevertheless, the aggregate Fair Market Value (determined as of the date of grant) of Shares subject to grant(s) of Incentive Stock Options which will become Vested by Participant during any calendar
year (under the Plan or under any other incentive stock option plan of the Company) shall not exceed $100,000. If the Fair Market Value of the Shares described in the preceding sentence exceeds $100,000, the Options for the first $100,000 worth of
Shares to become Vested shall be Incentive Stock Options and the Options for the amount in excess of $100,000 that become Vested shall be Non-qualified Stock Options. 

(c) Premature Disposition of Shares. The Board may require Participant to give the Company prompt notice of any disposition of Shares
acquired by exercise of an Incentive Stock Option if such disposition occurs within 2 years from the Award Date of such Option or 1 year from the date of transfer of such Shares to Participant. Such notice shall specify the date of such disposition
or other transfer and the amount realized (whether in cash, other property, assumption of indebtedness or other consideration) by Participant in such transaction. These requirements to give prompt notice of disposition may be referred to in legends
contained on the certificates evidencing such Shares. 
 (d) Lock-Up Period. Participant
hereby agrees that Participant shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose
of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock
(or other securities) of the Company held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred
and eighty (180) days following the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions
on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any
successor provisions or amendments thereto). 
 Participant agrees to execute and deliver such other agreements as may be reasonably
requested by the Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other
securities) of the Company, Participant shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the
Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 3(d) shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. 

  

					
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The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and
eighty (180) day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by this Section 3(d). 

4. Administration of Plan. The Board shall administer the Plan and this Agreement in accordance with their provisions and shall
have full and final authority in its discretion to (a) interpret the provisions of the Plan and this Agreement and decide all questions of fact arising in their application, and its interpretation and decisions shall be in all respects final,
conclusive and binding; and (b) make all other determinations, rules and regulations necessary or advisable for the administration of the Plan and this Agreement. Notwithstanding any provisions of this Agreement to the contrary, the Board shall
have the power to permit, in its discretion, an acceleration of any previously determined Option exercise terms or to otherwise amend the terms of an Option, under such circumstances and upon such modified or different terms and conditions as it
deems appropriate, subject, however, to the provisions of the Plan. No member of the Board shall be personally liable for any action or determination in respect to the administration of the Plan and this Agreement if made in good faith. 

5. Restrictive Covenants. In order to induce the Company to Award the Options hereunder and in consideration therefor: 

(a) Covenants Not to Compete or Solicit. The Participant will not directly or indirectly (whether as a principal, agent, independent
contractor, employer, employee, investor, partner, shareholder, director or otherwise): 
 (i) During the Participant’s employment with
the Company and for a period of two (2) years after Participant’s Termination of Employment, solicit business or provide products and/or services which are the same as or competitive with that solicited or provided by the Company from any
company, enterprise or person which was a customer of the Company at any time during Participant’s employment with the Company; 
 (ii)
During the Participant’s employment with the Company and for a period of two (2) years after Participant’s Termination of Employment, engage in any business or participate, invest or have any interest in, by way of example but without
limitation, any person, firm, corporation, sole proprietorship or business, that engages in any business or activity anywhere in the world, which business or activity is the same as, similar to, or competitive with any business or activity now,
heretofore or hereafter engaged in by the Company; or 
 (iii) During the Participant’s employment with the Company and for a period of
two (2) years after Participant’s Termination of Employment, induce or attempt to persuade any employee, agent, supplier or customer of the Company to terminate any similar employment, agency, supplier or customer relationship with the
Company in order to enter into any such relationship on behalf of any other company, enterprise or person. 
 Notwithstanding anything contained herein to
the contrary, (A) Participant shall not be prohibited from owning any interest in or shares of mutual or similar funds which are nationally recognized and which own equity securities of any corporation, if such securities are publicly traded
and listed on any national or regional stock exchange and (B) Participant shall not be prohibited from accepting a position of full-time employment with any such customer of the Company, provided that Participant shall not engage in any
activities prohibited hereunder with respect to any other customer(s) of the Company. 
 (b) Covenant Regarding Confidential
Information. The Participant acknowledges and agrees that all records and other information not released to the general public, all trade secrets, unpublished data or other information and all trade secrets and confidential or proprietary
information, in each case relating to the services, business and operations of the Company or its subsidiaries and affiliates, whether reduced to writing or not, are confidential and the sole property of the Company and its subsidiaries and
affiliates (all of the same being herein collectively called the “Confidential Information”). The Participant will not, at any time during his employment with the Company or thereafter, directly or indirectly, use any of the Confidential
Information, except in the regular course of employment with the Company hereunder, or disclose any of the Confidential Information to any other person or entity, except to the extent that the Board may so authorize in writing, and that, upon
Participant’s Termination of Employment, he or she will 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	8	  	

 
surrender to the Company all Confidential Information then in his or her possession or under his or her control. Participant acknowledges and agrees that the Confidential Information and other
aspects of the Company’s business have been established and maintained at great expense, and kept and protected as confidential and secret information and are of great value to the Company and provide it with a substantial competitive advantage
in conducting said business. Participant further acknowledges and agrees that as a result of his or her knowledge of the Confidential Information, Company would suffer great loss and irreparable injury if Participant were to disclose the
Confidential Information or use the Confidential Information to compete with the Company. 
 (c) Rights and Remedies upon Breach.
Participant expressly agrees that in the event of any violation by the Participant of the covenants and restrictions contained in paragraphs (a) and/or (b) hereof, Company and its successors or assigns shall have the following cumulative
rights and remedies, each of which rights and remedies shall be independent of the others and severally enforceable, and all of which rights and remedies shall be in addition to, and not in lieu of, any and all other legal and equitable rights and
remedies available to the Company: 
 (i) Institute proceedings in any court of competent jurisdiction against the Participant, or any other
person, organization or entity acting with him, to enjoin and restrain him or her and/or them from a threatened or further and continuing breach of the covenants and restrictions set forth herein. Participant hereby expressly consents that an order,
either temporary or permanent, may be entered in any suit, in equity or law, brought for the purposes of enjoining Participant, or any other person, organization or entity acting with him or her, from violating or threatening to violate the
covenants and restrictions set forth herein. It is the intent and understanding of each party hereto that if, in any action before any court, agency or tribunal legally empowered to enforce the covenants contained in such paragraphs (a) and
(b), any term, restriction, covenant or promise contained therein is found to be invalid, illegal or unenforceable, then such term, restriction, covenant or promise shall be deemed modified to the extent necessary to make it valid, legal or
enforceable by such court, agency or tribunal; 
 (ii) Require the Participant to account for and pay over to the Company, any amounts paid
to Participant hereunder or under the Stock Restriction and Repurchase Agreement which are in excess of the Purchase Price paid by the Participant to the Company pursuant hereto; 

(iii) Withhold any and all payments due hereunder or under the Stock Restriction and Repurchase Agreement which are in excess of the Purchase
Price paid by the Participant to the Company pursuant hereto; and 
 (iv) Declare any and all rights of the Participant under this Option
Agreement to be immediately terminated and of no further force or effect. 
 (d) Covenants Reasonable and Necessary. Participant
agrees that the terms and conditions of the covenants and restrictions set forth herein are reasonable and necessary for the protection of the Company, Company’s business and the Confidential Information and to prevent damage or loss to Company
as a result of actions taken by the Participant. Participant acknowledges and agrees that the Company would suffer great loss and irreparable injury if Participant violates the covenants contained in subparagraphs (a) and/or (b) hereof.
The provisions contained in this Section 5 shall survive the termination of this Agreement and the Participant’s Termination of Employment for any reason. 

6. Withholding of Taxes. Whenever Shares are to be issued under the Plan or this Agreement, the Company may require the Participant
to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under the Plan or this Agreement, payments in
satisfaction of Options are to be made in cash, such payment shall be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements. 

7. Rights as an Employee. Neither the Plan nor this Agreement shall be construed to give any individual the right to remain in the
employ of the Company or to continue in any position or at any level of remuneration, or to affect the right of the Company to terminate such individual’s employment at any time, with or without cause. The grant of an Option shall not entitle
the Participant to, or disqualify the Participant from, participation in the grant of any other Option under the Plan or participation in any other plan maintained by the Company. In accepting these Options, Participant acknowledges and agrees that

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	9	  	

 
for labor law purposes outside the United States, (a) Options are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company and
the grant of this Option is outside the scope of Participant’s employment contract, if any; and (b) the grant of Options and the underlying Shares are not part of normal or expected compensation or salary for any purposes, including, but
not limited to, calculation of any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, holiday pay, long-service awards, pension or retirement benefits or similar payment and in no event shall be considered
as compensation for, or relating in any way to, past services for the Company or any Subsidiary of affiliate of the Company. 
 8. Non-Alienation of Benefits. Prior to its settlement in the form of Shares, no right or benefit under the Plan and this Agreement shall be subject to anticipation, alienation, sale, assignment, pledge,
encumbrance or charge, and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge the same whether voluntary, involuntary or by operation of law, shall be void except by will or by the laws of descent and distribution or by
such other means as the Board may approve from time to time. No right or benefit under the Plan and this Agreement shall in any manner be liable for or subject to the debts, contracts, liabilities, or torts of the person entitled to such benefit. If
Participant should become bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber or charge any right or benefit under the Plan and this Agreement, then such right or benefit shall, in the sole discretion of the Board, cease and
terminate, and in such event, the Company may hold or apply the same or any part thereof for the benefit of Participant, the Participant’s spouse, children or other dependents, or any of them, in such manner and in such proportion as the Board
may determine. Any restrictions on transferability of the Shares either described above or otherwise provided for in this Agreement may be referred to in legends contained on the certificates evidencing such Shares. 

9. Rights of a Shareholder. The recipient of any Award under the Plan and this Agreement, and any person claiming under or through
such recipient or under the Plan or this Agreement, shall not be, nor have any of the rights of, a shareholder with respect thereto, nor shall they have any right or interest in any cash or other property, unless and until certificates for Shares
are issued to such Participant after compliance with all the terms and conditions of the Plan and this Agreement. 
 10. Non-Uniform Determinations. The Board’s determinations under the Plan (including without limitation determinations of the persons to receive Awards, the form, amount and timing of such Awards,
the terms and provisions of such Awards and the agreements evidencing same, and the establishment of values and performance targets) need not be uniform and may be made by the Board selectively among persons who receive, or are eligible to receive,
Awards under the Plan, whether or not such persons are similarly situated. 
 11. Funding of the Plan. The Plan shall be
unfunded. The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any Award under the Plan or this Agreement, and payment of Awards shall be subordinate to the
claims of the Company’s general creditors. 
 12. Recapitalizations, Takeovers, and Liquidations. 

(a) Recapitalizations. Notwithstanding any other provision of the Plan to the contrary, but subject to any required action by the
stockholders of the Company, the Board shall make any adjustments to the class and/or number of Shares covered by the Plan, the number of Shares for which each outstanding Option pertains, the Exercise Price of an Option, and/or any other aspect of
the Plan to prevent the dilution or enlargement of the rights of Participants under the Plan in connection with any increase or decrease in the number of issued and outstanding shares of the common capital stock of the Company resulting from the
payment of a stock dividend, a stock split, a reverse stock split or any other event which results in an increase or decrease in the number of issued and outstanding shares of the common capital stock of the Company effected without receipt of
adequate consideration by the Company. 
 (b) Effect of Change in Control. 

(i) Notwithstanding any other provisions of the Plan to the contrary, if (A) a Change in Control occurs and (B) within one
(1) month prior to the date of such Change in Control or twelve (12) months after the date of such Change in Control, Participant’s employment with the successor corporation (or parent or Subsidiary of the successor corporation, if
applicable) is involuntarily terminated 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	10	  	

 
for any reason other than Cause or voluntarily terminated by the Participant for Good Reason, then the vesting and exercisability of this option shall be accelerated in full. 

(ii) In addition, in the event of a Change in Control, the Board may, in its discretion and upon at least 10 days’ advance notice to the
Participant, cancel any outstanding Options and pay to the holders thereof, in cash or stock, or any combination thereof, the value of such Options based upon the price per Share received or to be received by other shareholders of the Company as
part of the Change in Control transaction. 
 (iii) In addition, in the event of a Change in Control, the Board may, in its discretion
provide that each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a parent or Subsidiary of the successor corporation. For the purposes of this subsection 12(b)(iii), an Option will be
considered assumed if, following the Change in Control, the Option confers the right to purchase or receive, for each Share subject to the Option immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities
or property) received in the Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a
majority of the outstanding Shares); provided, however, that if such consideration received in the Change in Control is not solely common stock of the successor corporation or its parent, the Board may, with the consent of the successor corporation,
provide for the consideration to be received upon the exercise of an Option, for each Share subject to such Option, to be solely common stock of the successor corporation or its parent equal in fair market value to the per share consideration
received by holders of Common Stock in the Change in Control. 
 (iv) The obligations of the Company under the Plan and this Agreement shall
be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business
of the Company. 
 (v) For the purposes hereof, “Cause” means the occurrence of any of the following (and only the following): (i)
conviction of any felony or any crime involving moral turpitude or dishonesty, (ii) participation in a fraud or act of dishonesty against the Company, (iii) conduct that, based upon a good faith and reasonable factual investigation and
determination by the Board, demonstrates Participant’s gross unfitness to serve, or (iv) intentional, material violation of any contract with the Company or any statutory duty to the Company that is not corrected within thirty
(30) days after written notice thereof. Death, physical disability and mental disability shall not constitute “Cause.” 
 (vi)
For the purposes hereof, “Good Reason” means the occurrence of any of the following events or conditions: (i) (A) a change in the Participant’s status, title, position or responsibilities (including reporting responsibilities)
which represents an adverse change from the Participant’s status, title, position or responsibilities as in effect at any time within ninety (90) days preceding the date of a Change in Control or at any time thereafter; (B) the
assignment to the Participant of any duties or responsibilities which are inconsistent with the Participant’s status, title, position or responsibilities as in effect at any time within ninety (90) days preceding the date of a Change in
Control or at any time thereafter; or (C) any removal of the Participant from or failure to reappoint or reelect the Participant to any of such offices or positions, except in connection with the termination of the Participant’s employment
for Cause, as a result of the Participant’s disability or death or by the Participant other than as a result of a termination for Good Reason; (ii) a reduction in the Participant’s annual base compensation or following
(1) written notice and (2) failure to cure the failure within thirty (30) days of receipt of the written notice, any failure to pay the Participant any compensation or benefits to which the Participant is entitled within five
(5) days of the date due; (iii) the Company’s requiring the Participant to relocate to any place outside a ten (10) mile radius of the Participant’s current work site, except for reasonably required travel on the business of
the Company or its Subsidiaries and affiliates which is not materially greater than such travel requirements prior to the Change in Control; (iv) the failure by the Company to (A) continue in effect (without reduction in benefit level
and/or reward opportunities) any material compensation or employee benefit plan in which the Participant was participating at any time within ninety (90) days preceding the date of a Change in Control or at any time thereafter, unless such plan
is replaced with a plan that provides substantially equivalent compensation or benefits to the Participant, or (B) provide the Participant with compensation and benefits, in the aggregate, at least equal (in terms of benefit levels and/or
reward opportunities) to those provided for under each other employee benefit plan, program and practice in which the Participant was 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	11	  	

 
participating at any time within ninety (90) days preceding the date of a Change in Control or at any time thereafter; (v) any material breach by the Company of any provision of an
agreement between the Company and the Participant, whether pursuant to this Plan or otherwise, other than a breach which is cured by the Company within fifteen (15) days following written notice by the Participant of such breach; or
(vi) the failure of the Company to obtain an agreement from any successors and assigns to assume and agree to perform the obligations created under this Plan. 

(c) Determination by the Board. All adjustments described in this Section shall be made by the Board, whose determination shall be
conclusive and binding on all persons. 
 (d) Limitation on Rights of Participants. Except as expressly provided in this Section, the
Participant shall not have any rights by reason of any payment of any stock dividend, stock split, reverse stock split, or any other change in the number of shares of stock of any class, or by reason of any reorganization, consolidation,
dissolution, liquidation, merger, exchange, split-up or reverse split-up, or spin-off of assets or stock of another corporation.
Any issuance by the Company of Options shall not affect, and no adjustment by reason thereof shall be made with respect to, Options under the Plan. 

(e) No Limitation on Rights of Company. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of
the Company to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or to dissolve, liquidate, sell, or transfer all or any part of its business or assets. 

13. Personal Data. Participant hereby explicitly and unambiguously consents to the collection, use transfer and retention, in electronic or
other form, of Participant’s personal data as described in this Option Agreement between and among, as applicable, the Company, and/or Subsidiaries and affiliates of the Company for the exclusive purpose of implementing, administering, managing
and accounting for Participant’s participation in the Plan (“Data”). Participant understands that Data may be transferred to third parties assisting in the implementation, administration and management of the Plan, that these
recipients may be located in Participant’s country or elsewhere and that the recipient’s country may have different data privacy laws and protections than Participant’s country. Participant may request a list with the names and
addresses of any potential recipients of the Data by contacting Participant’s local human resources representative. Participant may, at any time, view Data, request additional information about the storage and processing of Data, require any
necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing Participant’s local human resources representative. Participant understands that refusal or withdrawal of consent may
affect Participant’s ability to participate in the Plan. 
 14. Severability. If any provision of the Plan or
this Agreement or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Board, such provision
shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Board, materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction, person, or Award, and the remainder of the Plan and this Agreement and any such Award shall remain in full force and effect. Each covenant, condition, term and provision of this Agreement shall be valid and
enforceable to the fullest extent permitted by law. 
 15. Gender and Number. As the context of any provision may require, nouns and pronouns of
any gender and number shall be construed in any other gender and number.  
 16. Governing Law. This Agreement and the Plan
shall be governed by and interpreted under the laws of the State of Michigan and applicable Federal law, irrespective of where this Agreement is made or to be performed, and irrespective of any applicable principles of conflict of laws. 

17. Venue. The venue of any dispute, controversy, litigation or proceeding (formal or informal) arising out of or pertaining to the Plan or
this Agreement or the subject hereof shall lie exclusively in the County of Oakland, State of Michigan. Provided, however, that if any such dispute, controversy, litigation or proceeding requires or permits jurisdiction in a federal court or agency
of the United States, then venue shall lie in no federal court or agency other than those located in (or nearest to) the County of Wayne, State of Michigan. No term or provision of this Section is 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	12	  	

 
intended to establish a priority as between state court or federal court, for instances in which a choice of such venue is available to the parties or litigants. The parties hereto
knowingly and expressly waive any rights they may have in existing venue statutes, either state or federal, to the extent that such statutes would require a different venue than otherwise provided for herein. 

18. Captions. Captions used herein are inserted for reference purposes only and shall not affect the interpretation or construction of
this Agreement. 
 19. Independent Legal Representation . Participant acknowledges that the parties’ interests hereunder are
divergent and conflicting in many material respects. Accordingly, Participant acknowledges being advised to retain independent legal counsel before executing this Agreement. Participant further acknowledges that the Company is not providing any tax,
legal or financial advice, nor is the Company making any recommendations regarding participation in the Plan, or acquisition or sale of the underlying Shares. Participant is strongly encouraged to consult with Participant’s own personal tax,
legal and financial advisors regarding participation in the Plan before taking any action related to the Plan.  

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	13	  	

 20. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy, telefax or other electronic transmission service shall be considered original executed
counterparts for purposes hereof, provided receipt of copies of such counterparts is confirmed. 
  

							
		 		 	ALTAIR ENGINEERING INC.
		 		 	A Michigan Corporation
				
	Dated: 	 		 	By:	 	  

 Participant hereby acknowledges receipt of a copy of the Plan and this Agreement, accepts his or her designation as a
Participant under and subject to all the terms and conditions set forth herein and in the Plan, and agrees to all such terms and conditions. 
  

					
	Dated: 	 		 	  

		 		 	«FName» «LName»
		 		 	PARTICIPANT

  

					
	Altair Engineering Inc. – ISO Agreement (Key EE)	  	14EX-10.10

 Exhibit 10.10 

ALTAIR ENGINEERING INC. 

STOCK RESTRICTION AND REPURCHASE AGREEMENT - 

2012 INCENTIVE AND NON-QUALIFIED STOCK OPTION PLAN 

ARTICLE I 

DEFINITIONS; SHARES SUBJECT TO AGREEMENT 

Section 1.1 Definitions. As used in this Agreement, the following words and
phrases shall have the meanings set forth below, unless the context clearly indicates that a different meaning is intended: 
 (a)
“Code” shall mean the United States Internal Revenue Code of 1986, as amended from time to time, together with the regulations and official guidance promulgated thereunder. 

(b) “Incentive Stock Option Agreement” means an Incentive Stock Option Agreement entered into between the Company and Participant
pursuant to the terms of the Plan. 
 (c) “Legal Representative” shall mean, with reference to any Person, a personal
representative, executor, administrator or conservator of the Person’s estate, or a legal guardian or attorney-in-fact of the Person, or a successor trustee of such
Person under his or her revocable living trust, or anyone else legally acting as the representative or successor in interest of the Person, as the context of any provision may require. 

(d) “Non-qualified Stock Option Agreement” means a
Non-qualified Stock Option Agreement entered into between the Company and Participant pursuant to the terms of the Plan. 

(e) “Person” shall mean any natural individual or legal entity, or any association of natural individuals or legal entities. 

(f) “Plan” shall mean the Altair Engineering Inc. 2012 Incentive and Non-qualified Stock
Option Plan. 
 (g) “Share” or “Shares” shall mean any and all shares of the common capital stock of the Company which
are issued to a Participant pursuant to the Plan and an Incentive Stock Option Agreement(s) and/or a Non-qualified Stock Option Agreement(s). 

(h) “Subsidiary” shall mean any corporation or other business entity (other than the Company) in an unbroken chain of corporations
and/or other business entities beginning with the Company if each of the corporations and/or other business entities (other than the last business entity in the unbroken chain) owns stock possessing at least 50% of the total combined voting power of
all classes of ownership in one of the other corporations and/or other business entities in such chain. 
 (i) “Transfer” shall
mean any assignment, transfer, sale, exchange, conveyance, disposition, pledge, hypothecation, attachment, gift, testamentary bequest or other disposition or encumbrance of any nature or description whatsoever, whether occurring voluntarily or
involuntarily, directly or indirectly, or by operation or process of law. 
 (j) “Triggering Event” shall mean an event in which,
or circumstances under which, (1) Participant (or his Legal Representative) first becomes obligated to sell or offer for sale his Shares in the Company pursuant to this Agreement or (2) the Company first has the option to purchase the
Shares of the Participant in the Company pursuant to this Agreement. 
 (k) “Vested Shares” shall mean the Shares as to which
Participant has become one hundred (100%) percent vested pursuant to the provisions of Section 2.1 of this Agreement. 

  

					
	 2012 ISO & NSO Plan
 Stock
Restriction Agreement (Key EE)
	  		  	

 Section 1.2
Non-Registration. Regardless of whether the Shares have been registered under the Securities Act of 1933, as amended (the “Securities Act”) or have been registered or qualified
under the securities laws of any state, the Company may impose restrictions upon the sale, pledge, or other transfer of such Shares (including the placement of appropriate legends on stock certificates) if, in the judgment of the Company and its
counsel, such restrictions are necessary or desirable to achieve compliance with the provisions of the Securities Act, the securities laws of any state, or any other law. 

Section 1.3 Restrictive Legends. 

(a) The certificates representing the Shares subject to the terms of this Agreement shall bear substantially the following legend: 

THE TRANSFER, ASSIGNMENT, SALE, ENCUMBRANCE, PLEDGE OR OTHER DISPOSITION OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE IS RESTRICTED
UNDER THE TERMS OF A STOCK RESTRICTION AND REPURCHASE AGREEMENT – 2012 INCENTIVE AND NON-QUALIFIED STOCK OPTION PLAN (KEY EMPLOYEE) DATED
                    , 20        , A COPY OF WHICH IS ON FILE AT THE OFFICE OF THE COMPANY. BY ACCEPTING THIS
CERTIFICATE, ANY TRANSFEREE AGREES TO BE BOUND BY THE TERMS OF SUCH AGREEMENT. 
 (b) Stock certificates evidencing Shares acquired pursuant
to an unregistered transaction to which the Securities Act applies shall bear a restrictive legend substantially in the following form and such other restrictive legends as are required or deemed advisable under the Plan or the provisions of any
applicable law: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (“ACT”) OR THE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY FOREIGN JURISDICTION. THEY MAY NOT BE TRANSFERRED, SOLD OR OFFERED FOR SALE EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE AND FOREIGN SECURITIES LAWS OR PURSUANT TO AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. 

Section 1.4 Endorsement. Participant agrees to tender all stock
certificates pertaining to Shares subject to this Agreement held by him to the secretary of the Company for endorsement in the manner set forth in Section 1.3 of this Article. 

ARTICLE II 
 VESTING;
TRANSFER AND PURCHASE OF SHARES 
 Section 2.1 Vesting of
Shares. Participants shall be 100% vested in all Shares at all times hereunder. Notwithstanding the foregoing to the contrary, in the event that a Participant acquires Shares by exercising a
non-Vested Option pursuant to the terms of an Incentive Stock Option Agreement and/or a Non-qualified Stock Option Agreement, such Shares shall remain subject to the
vesting provisions contained in said Incentive Stock Option Agreement and/or Non-qualified Stock Option Agreement, as applicable. 

Section 2.2 Lifetime Transfers. While this Agreement is in force,
Participant shall not Transfer all or any portion of his Shares, except under the terms of this Agreement. In the event that there is any proposed, attempted or actual Transfer of any or all of Participant’s Vested Shares, then

  

					
	 2012 ISO & NSO Plan
 Stock
Restriction Agreement (Key EE)
	  	2	  	

 
prior to accomplishment of such Transfer, the Company shall have the right to purchase such Vested Shares in accordance with the terms of this Section. 

(a) Participant shall furnish the Company with written notice of the proposed Transfer, which notice shall identify the proposed transferee and
fully describe the purchase price and other terms of the offer of sale from such proposed transferee. 
 (1) The Company shall have the
right and option, exercisable by written notice furnished to Participant within sixty (60) days from the date as of which the Company has been furnished with written notice of the proposed Transfer, to acquire all but not less than all of
Participant’s Vested Shares upon the terms set forth in Article III hereof at the purchase price determined pursuant to Article IV hereof. 

(2) If the Company timely exercises its option to purchase all of Participant’s Vested Shares as provided above, the purchase and sale of
Participant’s Vested Shares shall be completed at a closing to be held within one hundred twenty (120) days from the date as of which the Company has been furnished with the written notice of the proposed Transfer. 

(3) If the Company does not exercise its option to purchase all of Participant’s Vested Shares as provided above, then Participant may
complete the Transfer for the purchase price and upon such other terms as are set forth in the Participant’s notice of the proposed Transfer; subject however to rights of first refusal on the part of the Company to purchase no less than all of
the Participant’s Vested Shares. 
 (A) The purchase price and terms of any such sale to the Company shall be at the same price and
upon the same terms (including timing of a closing) as the Participant deems acceptable in the offer of sale from the third person. 
 (B)
The right of first refusal on the part of the Company shall be exercisable for sixty (60) days from the date as of which the Company has been furnished with written notice of the proposed Transfer. 

(C) If a sale of Participant’s Vested Shares is not completed within forty five (45) days after the expiration of the Company’s
option to purchase and rights of first refusal provided for herein, then the Transfer may not be consummated without Participant again complying with the terms of this Section 2.2(a) and the provisions and restrictions of this Agreement shall
continue to apply to such Shares. 
 (D) If a sale of Participant’s Vested Shares to the third person is completed, then the provisions
and restrictions of this Agreement shall continue to apply to such Shares in the hands of the third person. 
 (E) If any Transfer subject
to this Agreement involves a transaction other than a bona fide sale for a readily ascertainable sale price under fixed terms and conditions, then the rights of first refusal provided herein shall be administered and effectuated through the use of a
price, terms and conditions which are fair and just under the circumstances, as reasonably determined by the Company. 
 (b) The rights and
options provided in Subsection (a) above shall not apply with respect to any Transfer to a revocable living trust, to the extent provided in Article V hereof. 

(c) The rights and options provided in Subsection (a) above shall terminate and be of no further force or effect upon the earlier to occur
of (i) the date on which the Company consummates the sale of all or substantially all of the assets of the Company and/or the Shareholders consummate the sale of all or substantially all of the common capital stock of the Company, or
(ii) the date on which 

  

					
	 2012 ISO & NSO Plan
 Stock
Restriction Agreement (Key EE)
	  	3	  	

 
the common capital stock of the Company is first traded on any United States securities exchange or on any formal
over-the-counter quotation system in general use in the United States. 

Section 2.3 Termination of Employment other than for Cause. In the event
that the employment relationship of Participant with the Company is terminated for any reason, whether voluntarily or involuntarily, other than by the Company for “Cause”: 

(a) The Company shall have the option to purchase all, but not less than all, of the Participant’s Vested Shares upon the terms set forth
in Article III hereof at the purchase price determined pursuant to Article IV hereof. The Company must exercise this option, if at all, in writing within ninety (90) days after the effective date of Participant’s termination of employment
with the Company. 
 (b) The purchase and sale of the Participant’s Vested Shares shall be completed at a closing to be held within
ninety (90) days from the effective date of Participant’s termination of employment with the Company. 
 (c) In the event that the
Company does not timely exercise the right and option provided in Subsection (a) above, the Participant or his Legal Representative shall continue to own the Vested Shares and the provisions and restrictions of this Agreement shall continue to
apply to such Vested Shares. 
 (d) The rights and obligations provided in this Section 2.3 shall terminate and be of no further force
or effect upon the earlier to occur of (i) the date on which the Company consummates the sale of all or substantially all of the assets of the Company and/or the Shareholders consummate the sale of all or substantially all of the common capital
stock of the Company, or (ii) the date on which the common capital stock of the Company is first traded on any United States securities exchange or on any formal
over-the-counter quotation system in general use in the United States. 

Section 2.4 Termination of Employment for Cause. In the event that the employment
relationship of Participant with the Company is terminated by the Company for “Cause”: 
 (a) The Company shall have the right and
option, exercisable by written notice furnished to Participant within sixty (60) days from the effective date of Participant’s termination, to acquire all but not less than all of Participant’s Vested Shares upon the terms set forth
in Article III hereof at the purchase price determined pursuant to Article IV hereof. 
 (b) If the Company timely exercises its option to
purchase all of Participant’s Vested Shares as provided above, the purchase and sale of Participant’s Vested Shares shall be completed at a closing to be held within one hundred twenty (120) days from the effective date of
Participant’s termination. 
 (c) If the Company does not exercise its option to purchase all of Participant’s Vested Shares as
provided above, then Participant or his Legal Representative shall continue to own the Shares and the provisions and restrictions of this Agreement shall continue to apply to such Shares. 

(d) For purposes of this Article II, Cause shall be defined as the occurrence of any one or more of the following acts or events:
(1) fraud, misappropriation, embezzlement, or other act of material dishonesty against the Company; (2) any act or acts by Participant with respect to Company which constitute a breach of Participant’s fiduciary duties or duties of
honesty, good faith and loyalty (including derogatory statements regarding the Company, but excluding statements made in connection with any legal action filed against the Company); (3) any act by Participant which is intentionally damaging to the
Company; (4) commission by Participant of a felony or misdemeanor involving moral turpitude; (5) a material breach by Participant of any provision of this Agreement 

  

					
	 2012 ISO & NSO Plan
 Stock
Restriction Agreement (Key EE)
	  	4	  	

 
within his control or failure of Participant to properly and diligently perform his duties as an employee, officer and/or director of the Company, which violation is not remedied within three
(3) days after notice from Company specifying such violation; (6) alcohol or drug abuse affecting in any material respect the performance by the Participant of his duties and responsibilities as an employee, officer and/or director of the
Company; (7) commission of any other act or acts which substantially impairs the reputation and standing of Company with its customers or the community at large; and (8) any act or circumstance constituting “cause” for
termination under applicable statutory or common law. 
 Section 2.5 Violation of
Restrictive Covenants. In the event of any violation by Participant of the covenants and restrictions contained in Article VI hereof, in addition to, and not in lieu of, any and all other legal and equitable rights and remedies available to
the Company: 
 (a) The Company shall purchase from the Participant and the Participant (or his Legal Representative) shall sell and transfer
to the Company all Vested Shares owned by Participant upon the terms set forth in Article III hereof at the purchase price determined pursuant to Article IV hereof. 

(b) The purchase and sale of Participant’s Vested Shares shall be completed at a closing to be held within ninety (90) days from and
after the date upon which the Company provides written notice to Participant of the violation by Participant of the covenants and restrictions contained in Article VI hereof. 

Section 2.6 Purchase of Non-Vested
Shares. Upon the occurrence of a Triggering Event, the Company shall purchase from the Participant and the Participant (or his Legal Representative) shall sell and transfer to the Company all
non-Vested Shares owned by Participant upon the terms set forth in Article III hereof at the purchase price determined pursuant to Article IV hereof. The purchase and sale of Participant’s non-Vested Shares shall be completed at the closing of the purchase and sale of the Participant’s Vested Shares, or in default thereof, within ninety (90) days of the occurrence of the Triggering Event.

 Section 2.7 Employment Relationship with the Company. Notwithstanding the
provisions of this Agreement, Participant understands that his employment relationship with the Company is controlled by such manuals, procedures or directives as are promulgated from time to time by the Company. Nothing in this Agreement shall be
interpreted to change the terms of Participant’s employment with the Company to anything other than an “at-will” employment relationship and Participant hereby acknowledges and reaffirms that
his employment with the Company may be terminated by the Company at the will of the Company, with or without cause. In accepting the Shares, Participant acknowledges and agrees that for labor law purposes outside the United States, (a) the
Shares and the options pursuant to which they were issued are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company and the grant of such options and issuance of the Shares is outside
the scope of Participant’s employment contract, if any; and (b) the grant of such options and the underlying Shares are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculation of
any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, holiday pay, long-service awards, pension or retirement benefits or similar payment and in no event shall be considered as compensation for, or
relating in any way to, past services for the Company or any Subsidiary of affiliate of the Company; 

Section 2.8 Termination of Employment. A termination of the employment
relationship of a Participant with the Company shall not include the transfer of employment from the Company to a Subsidiary of the Company or vice versa or from one Subsidiary of the Company to another such Subsidiary. 

  

					
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Restriction Agreement (Key EE)
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 ARTICLE III 

PAYMENT TERMS 

Section 3.1 Terms of Payment. The purchase price to be paid by the Company to
Participant for all Vested and/or non-Vested Shares purchased by the Company pursuant to the terms of this Agreement shall be paid in full in immediately available United States funds at the closing of the
sale of the Vested and/or non-Vested Shares hereunder; provided, however, that there shall be credited against such purchase price (and against such down payment) the amount of any indebtedness then due and
payable to the Company by Participant. 
 ARTICLE IV 

PURCHASE PRICE 

Section 4.1 Determination of Purchase Price - Lifetime Sale/Termination Other Than For
Cause. The purchase price of Participant’s Shares in each of the applicable circumstances shall be as follows: 
 (a) In
the event that the Triggering Event under which the purchase price of Participant’s Vested Shares is to be determined under this Article is a lifetime Transfer pursuant to Section 2.2 hereof, the purchase price shall be the Fair Market Value
determined as of the closing date of the purchase and sale of Participant’s Vested Shares as provided for under Section 2.2 hereof. Notwithstanding anything contained in Section 2.2 hereof, the Company may not exercise its right of first
refusal and the closing date of the purchase and sale of Participant’s Vested Shares shall not occur until the date which is 6 months and 1 day following the date that Participant acquired the Shares as a result of exercise of the Option (the
“Minimum Holding Date”) and, accordingly, the Company’s right of first refusal under Section 2.2 will continue through the Minimum Holding Date, subject to Section 2.2(c). 

(b) In the event that the Triggering Event under which the purchase price of Participant’s Vested Shares is to be determined under this
Article is the termination of the Participant’s employment with the Company for any reason, whether voluntarily or involuntarily, other than by the Company for “Cause”, the purchase price per share shall the Fair Market Value
determined as of the closing date of the purchase and sale of Participant’s Vested Shares as provided for under Section 2.3 hereof; provided, however, that if such closing date would otherwise occur prior to the Minimum Holding Date, then the
purchase price per share shall be the Fair Market Value on the Minimum Holding Date and the closing of the purchase and sale Participant’s Vested Shares shall occur effective as of the Minimum Holding Date. 

(c) Except as provided in Section 4.2 hereof, no redemption of all, or any portion, of the Participant’s Vested Shares under the Plan or
under the terms set forth herein shall occur earlier than the Minimum Holding Date. 
 (d) For purposes of this Agreement, Fair Market Value
shall mean: 
 (i) The fair market value per Share determined by the Board of Directors of the Company as of the applicable valuation date
in accordance with the terms of the Plan or any other stock option plan subsequently adopted by the Company; or 
 (ii) If Subparagraph
(i) does not apply, the fair market value per Share shall be determined by the Board of Directors of the Company as of such valuation date. Such determination shall be made in good faith and shall be consistent with the principles applied with
respect to any such determinations of the fair market value of the Shares previously thereto made by the Board of Directors of the Company in accordance with the terms of the Plan, or any other stock option plan subsequently adopted by the Company.

  

					
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Restriction Agreement (Key EE)
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 (e) All determinations of Fair Market Value by the Board of Directors pursuant to the terms of
this Agreement shall be conclusive and binding on all persons. 
 Section 4.2
Determination of Purchase Price—Termination for Cause/Non-Vested Shares. In the event that the Triggering Event under which the purchase price of Participant’s Vested Shares is
to be determined under this Article is the termination of the Participant’s employment by the Company for “Cause” and/or a violation by Participant of the covenants and restrictions contained in Article VI hereof or where the purchase
price of any non-Vested Shares is to be determined under this Article, such purchase price shall be equal to the lesser of (a) the aggregate purchase price paid by Participant for such Shares pursuant to
the applicable Incentive Stock Option Agreement(s) and/or Non-qualified Stock Option Agreement(s) and (b) the Fair Market Value of such Shares as of the applicable Valuation Date. 

Section 4.3 Company’s Performance. In any situation in which the Company is
or may be unable to fulfill any obligation to redeem or pay for any Shares due to the prohibitive provisions of any statute, or due to limitations contained in its articles of incorporation or bylaws, the Company shall use its best efforts to take
such action as may be reasonably necessary to enable the Company, if possible, to fulfill such redemption or payment obligation. The actions to be taken shall include, but not be limited to, the reappraisal and revaluation of the total assets,
properties and rights of the Company (including accounts receivable and goodwill, if applicable) at their then current fair market value. 

ARTICLE V 
 GENERAL
PROVISIONS 
 Section 5.1 Assignments to Revocable Living Trusts.
Notwithstanding any term or provision of this Agreement to the contrary, the assignment of Shares, or any portion thereof, to a revocable living trust of which Participant is (during his lifetime) grantor, trustee or
co-trustee and primary beneficiary, shall be subject to the following conditions: 
 (a) Participant
must continue to remain liable for all of his obligations hereunder notwithstanding the assignment to such trust; 
 (b) All provisions of
this Agreement which relate to Participant in his status as an individual shall apply to the Shares so assigned based upon the status of Participant, notwithstanding the assignment to such trust; 

(c) The trust shall be completely bound by the terms and provisions of this Agreement, as a shareholder; and 

(d) The occurrence of any Triggering Event with respect to such Shares shall be determined (1) by reference to Participant in his capacity
as an individual (including but not limited to his death or disability), as well as (2) by reference to events affecting the trust alone (including but not limited to any Transfer of the Shares by such trust). 

Section 5.2 Encumbrance. Participant shall not encumber his Shares in any way,
and such Shares shall at all times be deemed security for all indebtedness due to the Company or the Company by Participant; such security interest arising as of the date such debt was incurred, and notice thereof is deemed given by the legend
referred to in Article I of this Agreement. If no other provision has been made to adjust the applicable purchase price for Participant’s Shares upon the occurrence of a Triggering Event, there shall be credited against such purchase price the
amount of any indebtedness then due and payable to the Company by Participant. 
 ARTICLE VI 

RESTRICTIVE COVENANTS 

  

					
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 Section 6.1 Covenant Not to
Compete/Solicit. Participant will not directly or indirectly (whether as a principal, agent, independent contractor, employer, employee, investor, partner, shareholder, director or otherwise): 

(a) During the Participant’s employment with the Company and for a period of two (2) years thereafter, solicit business or provide
products and/or services which are the same as or competitive with that solicited or provided by the Company from any company, enterprise or person which was a customer of the Company at any time during Participant’s employment with the
Company; 
 (b) During the Participant’s employment with the Company and for a period of two (2) years thereafter, engage in any
business or participate, invest or have any interest in, by way of example but without limitation, any person, firm, corporation, sole proprietorship or business, that engages in any business or activity anywhere in the world, which business or
activity is the same as, similar to, or competitive with any business or activity now, heretofore or hereafter engaged in by the Company; or 

(c) During the Participant’s employment with the Company and for a period of two (2) years thereafter, induce or attempt to persuade
any employee, agent, supplier or customer of the Company to terminate any similar employment, agency, supplier or customer relationship with the Company in order to enter into any such relationship on behalf of any other company, enterprise or
person. 
 Notwithstanding anything contained herein to the contrary, (A) Participant shall not be prohibited from owning any interest
in or shares of mutual or similar funds which are nationally recognized and which own equity securities of any corporation, if such securities are publicly traded and listed on any national or regional stock exchange and (B) Participant shall
not be prohibited from accepting a position of full-time employment with any such customer of the Company, provided that Participant shall not engage in any activities prohibited hereunder with respect to any other customer(s) of the Company. 

Section 6.2 Covenant Regarding Confidential Information. Participant
acknowledges and agrees that all records and other information not released to the general public, all trade secrets, unpublished data or other information and all trade secrets and confidential or proprietary information, in each case relating to
the services, business and operations of the Company or its subsidiaries and affiliates, whether reduced to writing or not, are confidential and the sole property of the Company and its subsidiaries and affiliates (all of the same being herein
collectively called the “Confidential Information”). The Participant will not, at any time during his employment with the Company or thereafter, directly or indirectly, use any of the Confidential Information, except in the regular course
of employment with the Company hereunder, or disclose any of the Confidential Information to any other person or entity, except to the extent that the Board may so authorize in writing, and that, upon Participant’s Termination of Employment, he
or she will surrender to the Company all Confidential Information then in his or her possession or under his or her control. Participant acknowledges and agrees that the Confidential Information and other aspects of the Company’s business have
been established and maintained at great expense, and kept and protected as confidential and secret information and are of great value to the Company and provide it with a substantial competitive advantage in conducting said business. Participant
further acknowledges and agrees that as a result of his or her knowledge of the Confidential Information, Company would suffer great loss and irreparable injury if Participant were to disclose the Confidential Information or use the Confidential
Information to compete with the Company. 
 Section 6.3 Rights and Remedies upon
Breach. Participant expressly agrees that in the event of any violation by Participant of the covenants and restrictions contained in this Article VI, Company and its successors or assigns shall have the following cumulative rights
and remedies, each of which rights and remedies shall be independent of the others and severally enforceable, and all of 

  

					
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Restriction Agreement (Key EE)
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which rights and remedies shall be in addition to, and not in lieu of, any and all other legal and equitable rights and remedies available to the Company: 

(a)Institute proceedings in any court of competent jurisdiction against the Participant, or any other person, organization or entity acting
with him, to enjoin and restrain him or her and/or them from a threatened or further and continuing breach of the covenants and restrictions set forth herein. Participant hereby expressly consents that an order, either temporary or permanent, may be
entered in any suit, in equity or law, brought for the purposes of enjoining Participant, or any other person, organization or entity acting with him or her, from violating or threatening to violate the covenants and restrictions set forth herein.
It is the intent and understanding of each party hereto that if, in any action before any court, agency or tribunal legally empowered to enforce the covenants contained in such paragraphs (a) and (b), any term, restriction, covenant or promise
contained therein is found to be invalid, illegal or unenforceable, then such term, restriction, covenant or promise shall be deemed modified to the extent necessary to make it valid, legal or enforceable by such court, agency or tribunal; 

(b)Require the Participant to account for and pay over to the Company, any amounts paid to Participant hereunder which are in excess of the
aggregate purchase price paid by Participant to the Company for the Participant’s Shares pursuant to the applicable Incentive Stock Option Agreement(s) and/or Non-qualified Stock Option Agreement(s); 

(c) Withhold any and all payments due hereunder which are in excess of the aggregate purchase price paid by Participant to the Company for the
Participant’s Shares pursuant to the applicable Incentive Stock Option Agreement(s) and/or Non-qualified Stock Option Agreement(s); and 

(d)Declare any and all rights of the Participant under any Option Agreement to be immediately terminated and of no further force nor effect.

 Section 6.4 Covenants & Restrictions Reasonable
and Necessary. Participant agrees that the terms and conditions of the covenants and restrictions set forth herein are reasonable and necessary for the protection of the Company, Company’s business and the Confidential
Information and to prevent damage or loss to Company as a result of actions taken by the Participant. Participant acknowledges and agrees that the Company would suffer great loss and irreparable injury if Participant violates the covenants contained
in this Article VI. The provisions contained in this Article VI shall survive the termination of this Agreement and the Participant’s termination of employment with the Company for any reason. 

ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1 Agreement Binding. This Agreement shall inure to the benefit of, and
be binding upon, the parties hereto and their respective heirs, administrators, executors, personal representatives, successor trustees, successors and assigns. 

Section 7.2 Waiver of Breach. A waiver by any party of a breach of any provision
of this Agreement by any other party shall not operate or be construed (a) as continuing, or (b) as a bar to, or a waiver or release of, any subsequent right, remedy, or recourse as to a subsequent event, or (c) as a waiver of any
subsequent breach by that other party. 
 Section 7.3 Course of Conduct. No
course of conduct between the parties hereto, nor any delay in exercising any rights or remedies hereunder or under any communication, report, notice or other document or instrument referred to herein, shall operate as a waiver of any of the rights
or remedies of the parties hereto. 

  

					
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Restriction Agreement (Key EE)
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 Section 7.4 Further Assurances. The
parties hereto shall take such further steps and execute such further documents and instruments as may be necessary or appropriate to carry this Agreement into force and effect or to effectuate the intention hereof. 

Section 7.5 Entire Agreement. This Agreement contains all the covenants,
promises, agreements, conditions, representations and understandings between the parties hereto, and supersedes any prior agreements between the parties hereto, with respect to the subject matter hereof. There are no covenants, promises, agreements,
conditions, representations or understandings, either oral or written, between the parties hereto, other than those set forth herein or provided for herein, with respect to the subject matter hereof. Participant hereby acknowledges that he is not
relying on any statement, representation, or agreement of the Company as an inducement to enter into this Agreement, except as specifically provided herein and that neither the Company, nor anyone acting on behalf of the Company has made any
representation, agreement, guaranty or warranty of any kind whatsoever, express or implied, written or oral, concerning or relating to the subject matter hereof, except as specifically set forth herein. 

Section 7.6 Amendment. This Agreement shall not be changed orally, but only by an
agreement in writing, signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought. 

Section 7.7 Governing Law. This Agreement shall be governed by and interpreted
under the laws of the State of Michigan, irrespective of where this Agreement is made or to be performed, and irrespective of any applicable principles of conflict of laws. 

Section 7.8 Venue. The venue of any dispute, controversy, litigation or proceeding (formal or
informal) arising out of or pertaining to this Agreement or the subject hereof shall lie exclusively in the County of Oakland, State of Michigan. Provided, however, that if any such dispute, controversy, litigation or proceeding requires or permits
jurisdiction in a federal court or agency of the United States, then venue shall lie in no federal court or agency other than those located in (or nearest to) the County of Wayne, State of Michigan. No term or provision of this Section is intended
to establish a priority as between state court or federal court, for instances in which a choice of such venue is available to the parties or litigants. The parties hereto knowingly and expressly waive any rights they may have in existing venue
statutes, either state or federal, to the extent that such statutes would require a different venue than otherwise provided for herein. 

Section 7.9 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy, telefax or other electronic transmission service shall be
considered original executed counterparts for purposes hereof, provided receipt of copies of such counterparts is confirmed. 

Section 7.10 Gender and Number. As the context of any provision may require,
nouns and pronouns of any gender and number shall be construed in any other gender and number. 

Section 7.11 Notices, Statements, Etc. All notices, statements or other
communications which are required or contemplated by this Agreement shall be in writing (unless otherwise expressly provided herein) and shall be either personally served at or mailed to the last known mailing address of the person entitled thereto.
In addition, a copy of each such notice, statement or communication intended for a party shall be furnished to such single additional addressee for that party as may be specified herein or specified in a like notice. All such notices, statements and
other communications (or copies thereof) shall be deemed furnished to the person entitled thereto (a) on the date of service, if personally served at the last known mailing address of such person, or (b) on the date on which mailed, if
mailed to such person in accordance with the terms of this Section. For purposes hereof, an item shall be considered mailed if the sender can establish that it was sent by means including, but 

  

					
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Restriction Agreement (Key EE)
	  	10	  	

 
not limited to, the following: (i) by United States Postal Service, postage prepaid; (ii) by air courier service (Federal Express or the like); or (iii) by telefax or other means
of electronic communication. 
 Section 7.12 Personal Data. Participant hereby explicitly and
unambiguously consents to the collection, use transfer and retention, in electronic or other form, of Participant’s personal data as described in this Agreement between and among, as applicable, the Company, and/or Subsidiaries and affiliates
of the Company for the exclusive purpose of implementing, administering, managing and accounting for Participant’s participation in the Plan (“Data”). Participant understands that Data may be transferred to third parties assisting in
the implementation, administration and management of the Plan, that these recipients may be located in Participant’s country or elsewhere and that the recipient’s country may have different data privacy laws and protections than
Participant’s country. Participant may request a list with the names and addresses of any potential recipients of the Data by contacting Participant’s local human resources representative. Participant may, at any time, view Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or, under certain circumstances and with certain consequences, refuse or withdraw the consents herein, in any case without cost, by contacting
in writing Participant’s local human resources representative. 

Section 7.13 Severability. Should any covenant, condition, term or provision of
this Agreement be deemed to be illegal, or if the application thereof to any person or in any circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Agreement, or the application of such covenant, condition, term or
provision to persons or in circumstances other than those to which it is held invalid or unenforceable, shall not be affected thereby; and each covenant, condition, term and provision of this Agreement shall be valid and enforceable to the fullest
extent permitted by law. 
 Section 7.14 Captions. Captions used herein are
inserted for reference purposes only and shall not affect the interpretation or construction of this Agreement. 

Section 7.15 Incorporation by Reference. All schedules, exhibits and other
attachments which are affixed to and referred to in this Agreement are incorporated herein and made a part hereof by this reference. 

Section 7.16 Survival. The parties acknowledge and agree that this Agreement
contains substantial terms and provisions which are intended to govern the rights, duties and obligations of the parties following the closing on any purchase and sale of any Shares. Accordingly, this Agreement shall survive and shall not be deemed
merged into, the execution or delivery of any documents, property, or payments pursuant to the terms hereof; and this Agreement shall remain in full force and effect following the closing on any such purchase and sale. 

Section 7.17 Construction. Each party has participated fully in the negotiation
and preparation of this Agreement with full benefit or availability of counsel. Accordingly, this Agreement shall not be more strictly construed against either party. 

Section 7.18 Independent Legal Representation. Participant acknowledges that the parties’
interests hereunder are divergent and conflicting in many material respects. Accordingly, Participant acknowledges being advised to retain independent legal counsel before executing this Agreement. Participant further acknowledges that the Company
is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding participation in the Plan, or acquisition or sale of the underlying Shares. Participant is strongly encouraged to consult with
Participant’s own personal tax, legal and financial advisors regarding participation in the Plan before taking any action related to the Plan. 

Section 7.19 Equitable Relief. The parties acknowledge that the stock in the
Company which is the subject of this Agreement is unique and that the failure of any party to perform or fulfill 

  

					
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Restriction Agreement (Key EE)
	  	11	  	

 
such party’s obligations hereunder may result in irreparable harm to the other parties. Accordingly, the parties agree that specific performance of the terms hereof and/or other equitable
relief may be obtained through a court of competent jurisdiction. 
  

					
		 		 	ALTAIR ENGINEERING INC.
		 		 	A Michigan Corporation
			
	 Dated:
                                    ,
20            
	 	 By:
	 	  

		 		 	Its:

 Participant hereby acknowledges receipt of a copy of this Agreement, accepts his or her designation as a Participant under and
subject to all the terms and conditions set forth herein, and agrees to all such terms and conditions. 
  

					
	
Dated:                  
                  , 20            
	  		  	  

		  		  	[Signature of Participant]
			
		  		  	  

		  		  	[Print Participant’s Name]

  

					
	 2012 ISO & NSO Plan
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Restriction Agreement (Key EE)
	  	12

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