Document:

EX-10.8

 Exhibit 10.8 
 VPHEALTH, INC. 
 2011 EQUITY INCENTIVE PLAN 

VPHealth, Inc., a Delaware corporation (the “Company”), sets forth herein the terms of its 2011 Equity Incentive Plan (the
“Plan”), as follows: 
  

	1.	PURPOSE 

 The Plan is
intended to enhance the ability of the Company and its Affiliates (as defined herein) to attract and retain highly qualified officers, non-employee members of the Board, key employees, consultants and advisors, and to motivate such officers,
non-employee members of the Board, key employees, consultants and advisors to serve the Company and its Affiliates and to expend maximum effort to improve the business results and earnings of the Company, by providing to such persons an opportunity
to acquire or increase a direct proprietary interest in the operations and future success of the Company. To this end, the Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units,
unrestricted stock, other stock-based awards and cash awards. Any of these awards may, but need not, be made as performance incentives to reward attainment of performance goals in accordance with the terms hereof. Stock options granted under the
Plan may be non-qualified stock options or incentive stock options, as provided herein. 
  

	2.	DEFINITIONS 

 For purposes
of interpreting the Plan and related documents (including Award Agreements), the following definitions shall apply: 
  

	 	2.1.	“Affiliate” 

 means any company or other trade or business that “controls,” is “controlled by” or is “under common control” with the Company within the meaning of Rule 405 of
Regulation C under the Securities Act, including, without limitation, any Subsidiary. 
  

	 	2.2.	“Award” 

 means a grant of an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Stock-based Award or cash award under the Plan. 

 

	 	2.3.	“Award Agreement” 

 means a written agreement between the Company and a Grantee, or notice from the Company or an Affiliate to a Grantee that evidences and sets out the terms and conditions of an Award. 

 

	 	2.4.	“Board” 

 means the Board of Directors of the Company. 

	 	2.5.	“Cause” 

 shall be defined as that term is defined in the Grantee’s offer letter or other applicable employment agreement; or, if there is no such definition, “Cause” means, as determined by the
Company and unless otherwise provided in an applicable Award Agreement: (i) engaging in any act, or failing to act in dereliction or disregard of the Grantee’s duties to the Company, or misconduct that in any such case is injurious to
the Company or its Affiliates; (ii) gross negligence or willful misconduct in connection with the performance of duties; (iii) conviction of (or entering a plea of guilty or nolo contendere to) a criminal offense (other than a minor
traffic offense); (iv) fraud, embezzlement or misappropriation of funds or property of the Company or an Affiliate; (v) material breach of any term of any employment, consulting or other services, confidentiality, intellectual property or
non-competition agreement, if any, between the Service Provider and the Company or an Affiliate; (vi) the entry of an order duly issued by any regulatory agency (including federal, state and local regulatory agencies and self-regulatory bodies) having jurisdiction over the Company or an Affiliate requiring the removal from any office held by the Service Provider with the Company or prohibiting or materially limiting a Service
Provider from participating in the business or affairs of the Company or any Affiliate; or (vii) the revocation or threatened revocation of any of the Company’s or any Affiliate’s government licenses, permits or approvals, which is
primarily due to the Service Provider’s action or inaction and such revocation or threatened revocation would be alleviated or mitigated in any material respect by the termination of the Service Provider’s Services. 

 

	 	2.6.	“Change in Control” 

 shall have the meaning set forth in Section 15.2.2. 
  

	 	2.7.	“Code” 

 means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. 
  

	 	2.8.	“Committee” 

 means the Compensation Committee of the Board, or such other committee as determined by the Board. The Compensation Committee of the Board may, in its discretion, designate a subcommittee of its members
to serve as the Committee (to the extent the Board has not designated another person, committee or entity as the Committee). Following the IPO, (i) the Board will cause the Committee to satisfy the applicable requirements of any stock exchange
on which the Common Stock may then be listed; (ii) for purposes of Awards to Covered Employees intended to constitute Performance Awards, to the extent required by Code Section 162(m), Committee means all of the members of the Compensation
Committee who are “outside directors” within the meaning of Section 162(m) of the Code; and (iii) for purposes of Awards to Grantees who are subject to Section 16 of the Exchange Act, Committee means all of the members

  
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of the Compensation Committee who are “non-employee directors” within the meaning of Rule 16b-3 adopted under the Exchange Act. 

 

	 	2.9.	“Company” 

 means VPHealth, Inc., a Delaware corporation, or any successor corporation. 
  

	 	2.10.	“Common Stock” 

 or “Stock” means a share of common stock of the Company, par value $0.001 per share. 
  

	 	2.11.	“Covered Employee” 

 means a Grantee who is a “covered employee” within the meaning of Section 162(m)(3) of the Code as qualified by Section 12.4 herein. 

 

	 	2.12.	“Disability” 

 shall be defined as that term is defined in the Grantee’s offer letter or other applicable employment agreement; or, if there is no such definition, “Disability” means, as determined by the
Company and unless otherwise provided in an applicable Award Agreement, the Grantee is unable to perform each of the essential duties of such Grantee’s position by reason of a medically determinable physical or mental impairment which is
potentially permanent in character or which can be expected to last for a continuous period of not less than 12 months; provided, however, that, with respect to rules regarding expiration of an Incentive Stock Option following
termination of the Grantee’s Service, “Disability” means “permanent and total disability” as set forth in Section 22(e)(3) of the Code. 
  

	 	2.13.	“Effective Date” 

 means August 31, 2011, the date the Plan was approved by the Company’s Board of Directors. 
  

	 	2.14.	“Exchange Act” 

 means the Securities Exchange Act of 1934, as now in effect or as hereafter amended. 
  

	 	2.15.	“Fair Market Value” 

 of a share of Common Stock as of a particular date shall mean (1) if the Common Stock is listed on a national securities exchange, the closing or last price of the Common Stock on the composite tape
or other comparable reporting system for the applicable date, or if the applicable date is not a trading day, the trading day immediately preceding the applicable date, or (2) if the shares of Common Stock are not then listed on a national
securities exchange, or the value of such shares is not otherwise determinable, such value 

  
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as determined by the Board in good faith in its sole discretion (but in any event not less than fair market value within the meaning of Section 409A). 

 

	 	2.16.	“Family Member” 

 means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive
relationships, of a natural person referred to herein, a trust in which any one or more of these persons have more than fifty percent of the beneficial interest, a foundation in which any one or more of these persons (or the applicable individual)
control the management of assets, and any other entity in which one or more of these persons (or the applicable individual) own more than fifty percent of the voting interests. 

 

	 	2.17.	“Grant Date” 

 means, as determined by the Board, the latest to occur of (i) the date as of which the Board approves an Award, (ii) the date on which the recipient of an Award first becomes eligible to receive
an Award under Section 6 hereof, or (iii) such other date as may be specified by the Board in the Award Agreement or the Board’s resolution of approval of such Award. 

 

	 	2.18.	“Grantee” 

 means a person who receives or holds an Award under the Plan. 
  

	 	2.19.	“Incentive Stock Option” 

 means an “incentive stock option” within the meaning of Section 422 of the Code, or the corresponding provision of any subsequently enacted tax statute, as amended from time to time.

  

	 	2.20.	“IPO” 

 means the Company’s first underwritten public offering of its Common Stock under the Securities Act. 
  

	 	2.21.	“Non-qualified Stock Option” 

 means an Option, or any portion thereof, that is not an Incentive Stock Option. 
  

	 	2.22.	“Option” 

 means an option to purchase one or more shares of Stock pursuant to the Plan. 
  

	 	2.23.	“Option Price” 

 means the exercise price for each share of Stock subject to an Option. 

  
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	 	2.24.	“Other Stock-based Awards” 

 means Awards consisting of Stock units, or other Awards, valued in whole or in part by reference to, or otherwise based on, Common Stock. 

 

	 	2.25.	“Performance Award” 

 means an Award made subject to the attainment of performance goals (as described in Section 12) over a performance period of from one (1) to five (5) years. 

 

	 	2.26.	“Plan” 

 means this VPHealth, Inc. 2011 Equity Incentive Plan. 
  

	 	2.27.	“Purchase Price” 

 means the purchase price for each share of Stock pursuant to a grant of Restricted Stock. 
  

	 	2.28.	“Restricted Stock” 

 means shares of Stock, awarded to a Grantee pursuant to Section 10 hereof. 
  

	 	2.29.	“Restricted Stock Unit” 

 means a bookkeeping entry representing the equivalent of shares of Stock, awarded to a Grantee pursuant to Section 10 hereof. 

 

	 	2.30.	“SAR Exercise Price” 

 means the per share exercise price of a SAR granted to a Grantee under Section 9 hereof. 
  

	 	2.31.	“SEC” 

 means the United States Securities and Exchange Commission. 
  

	 	2.32.	“Section 409A” 

 means Section 409A of the Code and all formal guidance and regulations promulgated thereunder. 
  

	 	2.33.	“Securities Act” 

 means the Securities Act of 1933, as now in effect or as hereafter amended. 

  
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	 	2.34.	“Separation from Service” 

 means a termination of Service by a Service Provider, as determined by the Board, which determination shall be final, binding and conclusive; provided if any Award governed by Section 409A is to be
distributed on a Separation from Service, then the definition of Separation from Service for such purposes shall comply with the definition provided in Section 409A. 

 

	 	2.35.	“Service” 

 means service as a Service Provider to the Company or an Affiliate. Unless otherwise stated in the applicable Award Agreement, a Grantee’s change in position or duties shall not result in interrupted
or terminated Service, so long as such Grantee continues to be a Service Provider to the Company or an Affiliate. 
  

	 	2.36.	“Service Provider” 

 means an employee, officer, non-employee member of the Board, consultant or advisor of the Company or an Affiliate. 
  

	 	2.37.	“Stock Appreciation Right” 

 or “SAR” means a right granted to a Grantee under Section 9 hereof. 
  

	 	2.38.	“Subsidiary” 

 means any “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code. 
  

	 	2.39.	“Substitute Award” 

 means any Award granted in assumption of or in substitution for an award of a company or business acquired by the Company or a Subsidiary or with which the Company or an Affiliate combines. 

 

	 	2.40.	“Ten Percent Stockholder” 

 means an individual who owns more than ten percent (10%) of the total combined voting power of all classes of outstanding stock of the Company, its parent or any of its Subsidiaries. In determining
stock ownership, the attribution rules of Section 424(d) of the Code shall be applied. 
  

	 	2.41.	“Termination Date” 

 means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board under Section 5.2 hereof. 

  
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	 	2.42.	“Transition Period” means the period beginning with the consummation of an IPO and ending as of the earlier of (i) the date of the first annual
meeting of shareholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the IPO occurs and (ii) the expiration of the “reliance period”
under Treasury Regulation Section 1.162-27(f)(2). 

  

	3.	ADMINISTRATION OF THE PLAN 

  

	 	3.1.	General. 

 The Board shall
have such powers and authorities related to the administration of the Plan as are consistent with the Company’s certificate of incorporation and bylaws and applicable law. The Board shall have the power and authority to delegate its
responsibilities hereunder to the Committee, which shall have full authority to act in accordance with its charter, and with respect to the authority of the Board to act hereunder, all references to the Board shall be deemed to include a reference
to the Committee, to the extent such power or responsibilities have been delegated. Except as specifically provided in Section 14 or as otherwise may be required by applicable law, regulatory requirement or the certificate of
incorporation or the bylaws of the Company, the Board shall have full power and authority to take all actions and to make all determinations required or provided for under the Plan, any Award or any Award Agreement, and shall have full power and
authority to take all such other actions and make all such other determinations not inconsistent with the specific terms and provisions of the Plan that the Board deems to be necessary or appropriate to the administration of the Plan. Following the
IPO, the Committee shall administer the Plan; provided that, the Board shall retain the right to exercise the authority of the Committee to the extent consistent with applicable law and the applicable requirements of any securities exchange
on which the Common Stock may then be listed. The interpretation and construction by the Board of any provision of the Plan, any Award or any Award Agreement shall be final, binding and conclusive. Without limitation, the Board shall have full and
final authority, subject to the other terms and conditions of the Plan, to: 
  

	 	(i)	designate Grantees; 

  

	 	(ii)	determine the type or types of Awards to be made to a Grantee; 

  

	 	(iii)	determine the number of shares of Stock to be subject to an Award; 

  

	 	(iv)	establish the terms and conditions of each Award (including, but not limited to, the Option Price of any Option, the nature and duration of any restriction or condition
(or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of an Award or the shares of Stock subject thereto, and any terms or conditions that may be necessary to qualify Options as Incentive Stock Options);

  

	 	(v)	prescribe the form of each Award Agreement; and 

  

	 	(vi)	 amend, modify, or supplement the terms of any outstanding Award including the authority, in order to effectuate the purposes of the Plan, to modify
Awards to foreign nationals 

  
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or individuals who are employed outside the United States to recognize differences in local law, tax policy, or custom. 

 

	 	3.2.	Restrictions; No Repricing. 

 Notwithstanding the foregoing, no amendment or modification may be made to an outstanding Option or SAR that causes the Option or SAR if such amendment or modification could reasonably be expected to
materially impair the rights of the Grantee with respect to the Option or SAR (other than amendments or modifications which are required in order to conform such Option or SAR to applicable law), without the Grantee’s written prior approval.
Notwithstanding any provision herein to the contrary, the repricing of Options or SARs is prohibited without prior approval of the Company’s stockholders. For this purpose, a “repricing” means any of the following (or any other action
that has the same effect as any of the following): (A) changing the terms of an Option or SAR to lower its Option Price or SAR Exercise Price; (B) any other action that is treated as a “repricing” under generally accepted
accounting principles; and (C) repurchasing for cash or canceling an Option or SAR at a time when its Option Price or SAR Exercise Price is greater than the Fair Market Value of the underlying shares in exchange for another Award, unless the
cancellation and exchange occurs in connection with a change in capitalization or similar change under Section 15. A cancellation and exchange under clause (C) would be considered a “repricing” regardless of whether
it is treated as a “repricing” under generally accepted accounting principles and regardless of whether it is voluntary on the part of the Grantee. 
  

	 	3.3.	Award Agreements. 

 The
grant of any Award shall be evidenced by the Grantee executing the appropriate Award Agreement. The Company may retain the right in an Award Agreement to cause a forfeiture of the gain realized by a Grantee on account of actions taken by the Grantee
in violation or breach of or in conflict with any employment agreement, non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect
to the Company or any Affiliate thereof or otherwise in competition with the Company or any Affiliate thereof, or as otherwise required under applicable law or the listing requirements of any exchange on which shares of the Company’s capital
stock are traded, to the extent specified in such Award Agreement applicable to the Grantee. Furthermore, the Company may annul an Award if the Grantee is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable.

 If any of the Company’s financial statements are required to be restated, the Company may recover all or a portion of
any Award made to any Grantee (including any proceeds received by the Grantee from the sale or other transfer of shares issued or issuable under an Award) with respect to any fiscal year of the Company the financial results of which are negatively
affected by such restatement. The amount to be recovered shall be the amount, as determined by the Board, by which the affected Award exceeds the amount that would have been payable had the financial statements been initially filed as restated. In
no event shall the amount which the Company shall be eligible to recover hereunder be less than the amount required to be repaid or 

  
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recovered under applicable law or the listing requirements of any exchange on which shares of the Company’s capital stock are traded. 

 

	 	3.4.	Deferral Arrangement. 

The Board may permit or require the deferral of any Award payment into a deferred compensation arrangement, subject to such rules and
procedures as it may establish and in accordance with Section 409A, which may include provisions for the payment or crediting of interest or dividend equivalents, including converting such credits into deferred Stock units. 

 

	 	3.5.	No Liability. 

 No member
of the Board or of the Committee shall be liable for any action or determination made in good faith with respect to the Plan, any Award or Award Agreement. 
  

	 	3.6.	Book Entry. 

Notwithstanding any other provision of this Plan to the contrary, the Company may elect to satisfy any requirement under this Plan for the
delivery of stock certificates through the use of book-entry. 
  

	4.	STOCK SUBJECT TO THE PLAN 

  

	 	4.1.	Authorized Number of Shares. 

 Subject to adjustment under Section 15, the aggregate number of shares of Common Stock that may be initially issued pursuant to the Plan is Two Million Two Hundred Eighty-Five Thousand Three
Hundred Seventeen (2,285,317) shares. The total number of shares of Common Stock described in the preceding sentence shall be available for issuance under Incentive Stock Options. Shares issued under the Plan may consist in whole or in part of
authorized but unissued shares, treasury shares, or shares purchased on the open market or otherwise, all as determined by the Company from time to time. No later than the end of the Transition Period, the maximum number of shares for each type of
Stock-based Award, and the maximum amount of cash for any cash-based Award, intended to constitute “performance-based compensation” under Code Section 162(m) granted to any Grantee in any specified period shall be established by the
Company and approved by the Company’s stockholders. 
  

	 	4.2.	Share Counting. 

 Any
Award settled in cash shall not be counted as shares of Common Stock for any purpose under this Plan. If any Award under the Plan expires, or is terminated, surrendered or forfeited, in whole or in part, the unissued Common Stock covered by such
Award shall again be available for the grant of Awards under the Plan. If shares of Common Stock issued pursuant to the Plan are repurchased by, or are surrendered or forfeited to the Company at no more than cost, such shares of Common Stock shall
again be available for the grant of Awards under the Plan. If shares of Common Stock issuable upon exercise, vesting or settlement of an Award, or shares of Common Stock owned by a Grantee (which are not subject to any pledge or other security
interest), are surrendered or tendered to the Company in payment of the Option Price or Purchase 

  
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Price of an Award or any taxes required to be withheld in respect of an Award, in each case, in accordance with the terms and conditions of the Plan and any applicable Award Agreement, such
surrendered or tendered shares of Common Stock shall again become available for issuance under the Plan. In addition, in the case of any Substitute Award, such Substitute Award shall not be counted against the number of shares reserved under the
Plan. 
  

	5.	EFFECTIVE DATE, DURATION AND AMENDMENTS 

  

	 	5.1.	Term. 

 The Plan shall be
effective as of the Effective Date, subject to the approval by the stockholders of the Company in the manner and within the time required under Section 422(b)(1) of the Code. Subject to such approval by the stockholders and to the requirement
that no shares of Common Stock may be issue hereunder prior to such approval, Awards may be granted hereunder on and after adoption of the Plan by the Board. No Awards shall be granted under the Plan after the completion of ten years from the date
on which the Plan was adopted by the Board, but Awards previously granted may extend beyond that date. Notwithstanding the foregoing, the Plan may be terminated on any earlier date as provided in Section 5.2. 

 

	 	5.2.	Amendment and Termination of the Plan. 

 The Board may, at any time and from time to time, amend, suspend, or terminate the Plan as to any Awards which have not been made. An amendment shall be contingent on approval of the Company’s
stockholders to the extent stated by the Board, required by applicable law or required by applicable stock exchange listing requirements. Notwithstanding the foregoing, any amendment to Section 3.2 shall be contingent upon the approval
of the Company’s stockholders. No Awards shall be made after the Termination Date. The applicable terms of the Plan, and any terms and conditions applicable to Awards granted prior to the Termination Date shall survive the termination of the
Plan and continue to apply to such Awards. No amendment, suspension, or termination of the Plan shall, without the consent of the Grantee, materially impair rights or obligations under any Award theretofore awarded. 

 

	6.	AWARD ELIGIBILITY AND LIMITATIONS 

  

	 	6.1.	Service Providers. 

Subject to this Section, Awards may be made to any Service Provider, including any Service Provider who is an employee, officer,
non-employee member of the Board, consultant or advisor of the Company or of any Affiliate, as the Board shall determine and designate from time to time in its discretion. 

 

	 	6.2.	Successive Awards. 

 An
eligible person may receive more than one Award, subject to such restrictions as are provided herein. 

  
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	 	6.3.	Stand-Alone, Additional, Tandem, and Substitute Awards. 

 Awards may, in the discretion of the Board, be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the
Company, any Affiliate, or any business entity to be acquired by the Company or an Affiliate, or any other right of a Grantee to receive payment from the Company or any Affiliate. Such additional, tandem, and substitute or exchange Awards may be
granted at any time. If an Award is granted in substitution or exchange for another Award, the Board shall have the right to require the surrender of such other Award in consideration for the grant of the new Award. Subject to
Section 3.2, the board shall have the right, in its discretion, to make Awards in substitution or exchange for any other award under another plan of the Company, any Affiliate, or any business entity to be acquired by the Company or an
Affiliate. In addition, Awards may be granted in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any Affiliate, in which the value of Stock subject to the Award is equivalent in value to the
cash compensation (for example, Restricted Stock Units or Restricted Stock). 
  

	7.	AWARD AGREEMENT 

 Each
Award shall be evidenced by an Award Agreement, in such form or forms as the Board shall from time to time determine. Without limiting the foregoing, an Award Agreement may be provided in the form of a notice which provides that acceptance of the
Award constitutes acceptance of all terms of the Plan and the notice. Award Agreements granted from time to time or at the same time need not contain similar provisions but shall be consistent with the terms of the Plan. Each Award Agreement
evidencing an Award of Options shall specify whether such Options are intended to be Non-qualified Stock Options or Incentive Stock Options, and in the absence of such specification such options shall be deemed Non-qualified Stock Options.

  

	8.	TERMS AND CONDITIONS OF OPTIONS 

  

	 	8.1.	Option Price. 

 The
Option Price of each Option shall be fixed by the Board and stated in the related Award Agreement. The Option Price of each Option (except those that constitute Substitute Awards) shall be at least the Fair Market Value on the Grant Date of a share
of Stock; provided, however, that in the event that a Grantee is a Ten Percent Stockholder as of the Grant Date, the Option Price of an Option granted to such Grantee that is intended to be an Incentive Stock Option shall be not less than 110
percent (110%) of the Fair Market Value of a share of Stock on the Grant Date. In no case shall the Option Price of any Option be less than the par value of a share of Stock. 

 

	 	8.2.	Vesting. 

 Subject to
Section 8.3 hereof, each Option shall become exercisable at such times and under such conditions (including, without limitation, performance requirements) as shall be determined by the Board and stated in the Award Agreement. 

  
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	 	8.3.	Term. 

 Each Option shall
terminate, and all rights to purchase shares of Stock thereunder shall cease, upon the expiration of ten (10) years from the Grant Date, or under such circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed
by the Board and stated in the related Award Agreement; provided, however, that in the event that the Grantee is a Ten Percent Stockholder, an Option granted to such Grantee that is intended to be an Incentive Stock Option at the Grant Date shall
not be exercisable after the expiration of five (5) years from its Grant Date. 
  

	 	8.4.	Limitations on Exercise of Option. 

 Notwithstanding any other provision of the Plan, in no event may any Option be exercised, in whole or in part, (i) prior to the date the Plan is approved by the stockholders of the Company as
provided herein or (ii) after the occurrence of an event which results in termination of the Option. 
  

	 	8.5.	Method of Exercise. 

 An
Option that is exercisable may be exercised by the Grantee’s delivery of a notice of exercise to the Company, setting forth the number of shares of Stock with respect to which the Option is to be exercised, accompanied by full payment for the
shares. To be effective, notice of exercise must be made in accordance with procedures established by the Company from time to time. 
  

	 	8.6.	Rights of Holders of Options. 

 Unless otherwise stated in the related Award Agreement, an individual holding or exercising an Option shall have none of the rights of a stockholder (for example, the right to receive cash or dividend
payments or distributions attributable to the subject shares of Stock or to direct the voting of the subject shares of Stock ) until the shares of Stock covered thereby are fully paid and issued to him. Except as provided in Section 15
hereof or the related Award Agreement, no adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date of such issuance. 

 

	 	8.7.	Delivery of Stock Certificates. 

 Promptly after the exercise of an Option by a Grantee and the payment in full of the Option Price, such Grantee shall be entitled to the issuance of a stock certificate or certificates evidencing his or
her ownership of the shares of Stock subject to the Option. 
  

	 	8.8.	Limitations on Incentive Stock Options. 

 An Option shall constitute an Incentive Stock Option only (i) if the Grantee of such Option is an employee of the Company or any Subsidiary of the Company; (ii) to the extent specifically
provided in the related Award Agreement; and (iii) to the extent that the aggregate Fair Market Value (determined at the time the Option is granted) of the shares of Stock with respect to which all Incentive Stock Options held by such Grantee
become exercisable for the 

  
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first time during any calendar year (under the Plan and all other plans of the Grantee’s employer and its Affiliates) does not exceed $100,000. This limitation shall be applied by taking
Options into account in the order in which they were granted. 
  

	9.	TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS 

  

	 	9.1.	Right to Payment. 

 A SAR
shall confer on the Grantee a right to receive, upon exercise thereof, the excess of (i) the Fair Market Value of one share of Stock on the date of exercise over (ii) the SAR Exercise Price, as determined by the Board. The Award Agreement
for an SAR shall specify the SAR Exercise Price, which shall be fixed at the Fair Market Value of a share of Stock on the Grant Date. SARs may be granted alone or in conjunction with all or part of an Option or at any subsequent time during the term
of such Option or in conjunction with all or part of any other Award. A SAR granted in tandem with an outstanding Option following the Grant Date of such Option shall have a grant price that is equal to the Option Price; provided, however, that the
SAR’s grant price may not be less than the Fair Market Value of a share of Stock on the Grant Date of the SAR. 
  

	 	9.2.	Other Terms. 

 The Board
shall determine at the Grant Date or thereafter, the time or times at which and the circumstances under which a SAR may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the
time or times at which SARs shall cease to be or become exercisable following Separation from Service or upon other conditions, the method of exercise, whether or not a SAR shall be in tandem or in combination with any other Award, and any other
terms and conditions of any SAR. 
  

	 	9.3.	Term of SARs. 

 The term
of a SAR granted under the Plan shall be determined by the Board, in its sole discretion; provided, however, that such term shall not exceed ten (10) years. 
  

	 	9.4.	Payment of SAR Amount. 

Upon exercise of a SAR, a Grantee shall be entitled to receive payment from the Company (in cash or Stock, as determined by the Board) in
an amount determined by multiplying: 
 (i) the difference between the Fair Market Value of a share of Stock on the date of
exercise over the SAR Exercise Price; by 
 (ii) the number of shares of Stock with respect to which the SAR is exercised.

  
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	10.	TERMS AND CONDITIONS OF RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

 

	 	10.1.	Restrictions. 

 At the
time of grant, the Board may, in its sole discretion, establish a period of time (a “restricted period”) and/or any additional restrictions or conditions for the vesting of an Award of Restricted Stock or Restricted Stock Units, including
the satisfaction of corporate or individual performance objectives applicable to such Award, in accordance with Section 12.1 and 12.2. Each Award of Restricted Stock or Restricted Stock Units may be subject to a different
restricted period and/or different or additional restrictions or conditions. Neither Restricted Stock nor Restricted Stock Units may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the restricted period or prior
to the satisfaction of any other applicable restrictions. 
  

	 	10.2.	Restricted Stock Certificates. 

 The Company shall issue stock, in the name of each Grantee to whom Restricted Stock has been granted, stock certificates or other evidence of ownership representing the total number of shares of
Restricted Stock granted to the Grantee, as soon as reasonably practicable after the Grant Date. The Board may provide in an Award Agreement that either (i) the Secretary of the Company shall hold such certificates for the Grantee’s
benefit until such time as the Restricted Stock is forfeited to the Company or the restrictions lapse, or (ii) such certificates shall be delivered to the Grantee; provided, however, that such certificates shall bear a legend or legends that
comply with the Delaware General Corporation Law, as well as applicable securities laws and regulations, and that make appropriate reference to the restrictions imposed under the Plan and the Award Agreement. 

 

	 	10.3.	Rights of Holders of Restricted Stock. 

 Unless the Board otherwise provides in an Award Agreement, holders of Restricted Stock shall have rights as stockholders of the Company, including voting and dividend rights. 

 

	 	10.4.	Rights of Holders of Restricted Stock Units. 

  

	 	10.4.1.	Settlement of Restricted Stock Units. 

 Restricted Stock Units may be settled in cash or Stock, as determined by the Board and set forth in the Award Agreement. The Award Agreement shall also set forth whether the Restricted Stock Units shall
be settled (i) within the time period specified in Section 17.11.1 for short term deferrals or (ii) otherwise within the requirements of Section 409A, in which case the Award Agreement shall specify upon which events such
Restricted Stock Units shall be settled. 
  

	 	10.4.2.	Voting and Dividend Rights. 

 Unless otherwise stated in the applicable Award Agreement, holders of Restricted Stock Units shall not have rights as stockholders of the Company, including no voting or dividend or dividend equivalents
rights. 

  
 14 

	 	10.4.3.	Creditor’s Rights. 

A holder of Restricted Stock Units shall have no rights other than those of a general creditor of the Company. Restricted Stock Units
represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Award Agreement. 
  

	 	10.5.	Purchase of Restricted Stock. 

 The Grantee shall be required, to the extent required by applicable law, to purchase the Restricted Stock from the Company at a Purchase Price equal to the greater of (i) the aggregate par value of
the shares of Stock represented by such Restricted Stock or (ii) the Purchase Price, if any, specified in the related Award Agreement. If specified in the Award Agreement, the Purchase Price may be deemed paid by Services already rendered. The
Purchase Price shall be payable in a form described in Section 11 or, in the discretion of the Board, in consideration for past Services rendered. 
  

	 	10.6.	Delivery of Stock. 

 Upon
the expiration or termination of any restricted period and the satisfaction of any other conditions prescribed by the Board, the restrictions applicable to shares of Restricted Stock or Restricted Stock Units settled in Stock shall lapse, and,
unless otherwise provided in the Award Agreement, a stock certificate for such shares shall be delivered, free of all such restrictions, to the Grantee or the Grantee’s beneficiary or estate, as the case may be. 

 

	11.	FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK 

  

	 	11.1.	General Rule. 

 Payment of
the Option Price for the shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock shall be made in cash or in cash equivalents acceptable to the Company, except as provided in this Section 11.

  

	 	11.2.	Surrender of Stock. 

 To
the extent the Award Agreement so provides, payment of the Option Price for shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock may be made all or in part through the tender to the Company of shares of
Stock, which shares shall be valued, for purposes of determining the extent to which the Option Price or Purchase Price for Restricted Stock has been paid thereby, at their Fair Market Value on the date of exercise or surrender. Notwithstanding the
foregoing, in the case of an Incentive Stock Option, the right to make payment in the form of already owned shares of Stock may be authorized only at the time of grant. 

 

	 	11.3.	Cashless Exercise. 

 With
respect to an Option only (and not with respect to Restricted Stock) following the IPO, to the extent permitted by law and to the extent the Award Agreement so provides, payment of the Option Price may be made all or in part by delivery (on a
form acceptable to the 

  
 15 

 
Company) of an irrevocable direction to a licensed securities broker acceptable to the Company to sell shares of Stock and to deliver all or part of the sales proceeds to the Company in payment
of the Option Price and any withholding taxes described in Section 17.3. 
  

	 	11.4.	Other Forms of Payment. 

To the extent the Award Agreement so provides, payment of the Option Price or the Purchase Price for Restricted Stock may be made in any
other form that is consistent with applicable laws, regulations and rules, including, but not limited to, the issuance of a promissory note by the Grantee, and/or the Company’s withholding of shares of Stock otherwise due to the exercising
Grantee. 
  

	12.	TERMS AND CONDITIONS OF PERFORMANCE AWARDS 

  

	 	12.1.	Performance Conditions. 

The right of a Grantee to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such
performance conditions as may be specified by the Board. The Board may use such business criteria and other measures of performance as it may deem appropriate in establishing any performance conditions, and may exercise its discretion to reduce the
amounts payable under any Award subject to performance conditions, except as limited under Section 12.2 hereof in the case of a Performance Award intended to qualify under Code Section 162(m). 

 

	 	12.2.	Performance Awards Granted to Designated Covered Employees. 

 If and to the extent that the Board determines that a Performance Award to be granted to a Grantee who is designated by the Board as likely to be a Covered Employee should qualify as
“performance-based compensation” for purposes of Code Section 162(m), the grant, exercise and/or settlement of such Performance Award shall be contingent upon achievement of pre-established
performance goals and other terms set forth in this Section 12.2. 
  

	 	12.2.1.	Performance Goals Generally. 

 The performance goals for such Performance Awards shall consist of one or more business criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the
Board consistent with this Section 12.2. Following the end of the Transition Period, performance goals shall be objective and shall otherwise meet the requirements of Code Section 162(m) and regulations thereunder including the
requirement that the level or levels of performance targeted by the Board result in the achievement of performance goals being “substantially uncertain.” The Board may determine that such Performance Awards shall be granted, exercised
and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to the grant, exercise and/or settlement of such Performance Awards. Performance goals may, in the discretion of
the Board, be established on a Company-wide basis, or with respect to one or more business units, divisions, subsidiaries or business segments, as applicable. Performance goals may be absolute or relative (to the performance of one or more
comparable companies or indices). Measurement of performance goals may exclude (in the discretion of the Board) the 

  
 16 

 
impact of charges for restructuring, discontinued operations, extraordinary items, and other unusual non-recurring items, and the cumulative effects of tax or accounting changes (each as defined
by generally accepted accounting principles and as identified in the Company’s financial statements or other SEC filings). Performance goals may differ for Performance Awards granted to any one Grantee or to different Grantees. 

 

	 	12.2.2.	Business Criteria. 

 One
or more of the following business criteria for the Company, on a consolidated basis, and/or specified subsidiaries or business units of the Company (except with respect to the total stockholder return and earnings per share criteria), shall be used
exclusively by the Board in establishing performance goals for such Performance Awards: net sales; revenue; revenue growth or product revenue growth; operating income (before or after taxes); pre-or after-tax income (before or after allocation of
corporate overhead and bonuses; net earnings; earnings per share; net income (before or after taxes); return on equity; total shareholder return; return on assets or net assets; appreciation in and/or maintenance of, share price; market share; gross
profits; earnings (including earnings before taxes, earnings before interest and taxes or earnings before interest, taxes depreciation and amortization); economic value-added models or equivalent metrics; comparisons with various stock market
indices; reduction in costs; cash flow or cash flow per share (before or after dividends); return on capital (including return on total capital or return on invested capital; cash flow return on investment; improvement in or attainment of expense
levels or working capital levels; operating margins; gross margins or cash margin; year-end cash; debt reductions; shareholder equity; regulatory performance; implementation, completion or attainment of measurable objectives with respect to
research, development, products or projects and recruiting and maintaining personnel and any other business criteria established by the Board. 
  

	 	12.2.3.	Timing for Establishing Performance Goals. 

 Following the Transition Period, performance goals shall be established not later than 90 days after the beginning of any performance period applicable to such Performance Awards, or at such other date as
may be required or permitted for “performance-based compensation” under Code Section 162(m). 
  

	 	12.2.4.	Settlement of Performance Awards; Other Terms. 

 Settlement of Performance Awards shall be in cash, Stock, other Awards or other property, in the discretion of the Board. The Board may, in its discretion, reduce the amount of a settlement otherwise to
be made in connection with such Performance Awards. 
  

	 	12.3.	Written Determinations. 

All determinations by the Board as to the establishment of performance goals, the amount of any Performance Award pool or potential
individual Performance Awards and as to the achievement of performance goals relating to Performance Awards, shall be made in writing in the case of any Award intended to qualify under Code Section 162(m) to the extent required by Code

Section 162(m). To the extent permitted by Code Section 162(m), the Board may delegate any responsibility relating to such Performance Awards. 

  
 17 

	 	12.4.	Status of Section 12.2 Awards under Code Section 162(m). 

 The provisions of this Section 12.4 are applicable following the Transition Period. It is the intent of the Company that Performance Awards under Section 12.2 hereof granted to
persons who are designated by the Board as likely to be Covered Employees within the meaning of Code Section 162(m) and regulations thereunder shall, if so designated by the Board, constitute “qualified performance-based compensation”
within the meaning of Code Section 162(m) and regulations thereunder. Accordingly, the terms of Section 12.2, including the definitions of Covered Employee and other terms used therein, shall be interpreted in a manner consistent
with Code Section 162(m) and regulations thereunder. The foregoing notwithstanding, because the Board cannot determine with certainty whether a given Grantee will be a Covered Employee with respect to a fiscal year that has not yet been
completed, the term Covered Employee as used herein shall mean only a person designated by the Board, at the time of grant of Performance Awards, as likely to be a Covered Employee with respect to that fiscal year. If any provision of the Plan or
any agreement relating to such Performance Awards does not comply or is inconsistent with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be construed or deemed amended to the extent necessary to conform
to such requirements. 
  

	13.	OTHER STOCK-BASED AWARDS 

  

	 	13.1.	Grant of Other Stock-based Awards. 

 Other Stock-based Awards may be granted either alone or in addition to or in conjunction with other Awards under the Plan. Other Stock-based Awards may be granted in lieu of other cash or other
compensation to which a Service Provider is entitled from the Company or may be used in the settlement of amounts payable in shares of Common Stock under any other compensation plan or arrangement of the Company, including without limitation, the
Company’s incentive compensation plan. Subject to the provisions of the Plan, the Board shall have the sole and complete authority to determine the persons to whom and the time or times at which such Awards shall be made, the number of shares
of Common Stock to be granted pursuant to such Awards, and all other conditions of such Awards. Unless the Board determines otherwise, any such Award shall be confirmed by an Award Agreement, which shall contain such provisions as the Board
determines to be necessary or appropriate to carry out the intent of this Plan with respect to such Award. 
  

	 	13.2.	Terms of Other Stock-based Awards. 

 Any Common Stock subject to Awards made under this Section 13 may not be sold, assigned, transferred, pledged or otherwise encumbered prior to the date on which the shares are issued,
or, if later, the date on which any applicable restriction, performance or deferral period lapses. 

  
 18 

	14.	REQUIREMENTS OF LAW 

  

	 	14.1.	General. 

 The Company
shall not be required to sell or issue any shares of Stock under any Award if the sale or issuance of such shares would constitute a violation by the Grantee, any other individual exercising an Option, or the Company of any provision of any law or
regulation of any governmental authority, including without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of any shares
subject to an Award upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares hereunder, no shares of Stock may be issued or sold to
the Grantee or any other individual exercising an Option pursuant to such Award unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company, and any
delay caused thereby shall in no way affect the date of termination of the Award. Specifically, in connection with the Securities Act, upon the exercise of any Option or the delivery of any shares of Stock underlying an Award, unless a registration
statement under such Act is in effect with respect to the shares of Stock covered by such Award, the Company shall not be required to sell or issue such shares unless the Board has received evidence satisfactory to it that the Grantee or any other
individual exercising an Option may acquire such shares pursuant to an exemption from registration under the Securities Act. Any determination in this connection by the Board shall be final, binding, and conclusive. The Company may, but shall in no
event be obligated to, register any securities covered hereby pursuant to the Securities Act. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option or the issuance of shares of Stock pursuant
to the Plan to comply with any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the requirement that an Option shall not be exercisable until the shares of Stock covered by such Option are registered or
are exempt from registration, the exercise of such Option (under circumstances in which the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption.

  

	 	14.2.	Rule 16b-3. 

 During
any time when the Company has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Awards and the exercise of Options granted to officers and directors hereunder will qualify for the
exemption provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by the Board or Committee does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to the extent
permitted by law and deemed advisable by the Board, and shall not affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may exercise its discretion to modify this Plan in any respect necessary to
satisfy the requirements of, or to take advantage of any features of, the revised exemption or its replacement. 

  
 19 

	15.	EFFECT OF CHANGES IN CAPITALIZATION 

  

	 	15.1.	Adjustments for Changes in Capital Structure. 

 Subject to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation,
reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or similar change in the capital structure of the
Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and
proportionate adjustments shall be made in the number and class of shares subject to the Plan and to any outstanding Awards, and in the Option Price, SAR Exercise Price or Purchase Price per share of any outstanding Awards in order to prevent
dilution or enlargement of Grantees’ rights under the Plan. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If
a majority of the shares which are of the same class as the shares that are subject to outstanding Awards are exchanged for, converted into, or otherwise become (whether or not pursuant to a Change in Control) shares of another corporation (the
“New Shares”), the Board may unilaterally amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment, the number of shares subject to, and the Option Price, SAR Exercise Price or
Purchase Price per share of, the outstanding Awards shall be adjusted in a fair and equitable manner as determined by the Board, in its discretion. Any fractional share resulting from an adjustment pursuant to this Section shall be rounded down to
the nearest whole number and the Option Price, SAR Exercise Price or Purchase Price per share shall be rounded up to the nearest whole cent. In no event may the exercise price of any Award be decreased to an amount less than the par value, if any,
of the stock subject to the Award. The Board in its sole discretion, may also make such adjustments in the terms of any Award to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate.
Adjustments determined by the Board pursuant to this Section shall be made in accordance with Section 409A to the extent applicable. 
  

	 	15.2.	Change in Control. 

  

	 	15.2.1.	Consequences of a Change in Control. 

 Subject to the requirements and limitations of Section 409A if applicable, the Board may provide for any one or more of the following in connection with a Change in Control: 

(a) Accelerated Vesting. The Board may, in its discretion, provide in any Award Agreement or, in the event of a Change in
Control, may take such actions as it deems appropriate to provide for the acceleration of the exercisability, vesting and/or settlement in connection with such Change in Control of each or any outstanding Award or portion thereof and shares acquired
pursuant thereto upon such conditions, including termination of the Grantee’s Service prior to, upon, or following such Change in Control, to such extent as the Board shall determine. 

(b) Assumption, Continuation or Substitution. In the event of a Change in Control, the surviving, continuing, successor, or
purchasing corporation or other business entity 

  
 20 

 
or parent thereof, as the case may be (the “Acquiror”), may, without the consent of any Grantee, either assume or continue the Company’s rights and obligations under each or
any Award or portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such outstanding Award or portion thereof a substantially equivalent award with respect to the Acquiror’s stock, as applicable.
For purposes of this Section, if so determined by the Board, in its discretion, an Award denominated in shares of Stock shall be deemed assumed if, following the Change in Control, the Award confers the right to receive, subject to the terms and
conditions of the Plan and the applicable Award Agreement, for each share of Stock subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a combination thereof) to
which a holder of a share of Stock on the effective date of the Change in Control was entitled; provided, however, that if such consideration is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror, provide for
the consideration to be received upon the exercise or settlement of the Award, for each share of Stock subject to the Award, to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share consideration received by
holders of Stock pursuant to the Change in Control. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its sole discretion, determine such
Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate of the present value of the probable future payment of such consideration. Any Award or portion thereof which is neither assumed
or continued by the Acquiror in connection with the Change in Control nor exercised or settled as of the time of consummation of the Change in Control shall terminate and cease to be outstanding effective as of the time of consummation of the Change
in Control. 
 (c) Cash-Out of Awards. The Board may, in its discretion and without the consent of any Grantee,
determine that, upon the occurrence of a Change in Control, each or any Award or a portion thereof outstanding immediately prior to the Change in Control and not previously exercised or settled shall be canceled in exchange for a payment with
respect to each vested share (and each unvested share, if so determined by the Board) of Stock subject to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the Change in
Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair Market Value of the consideration to be paid per share of Stock in the Change in Control, reduced by the exercise or
purchase price per share, if any, under such Award. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its sole discretion, determine such
Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate of the present value of the probable future payment of such consideration. In the event such determination is made by the Board,
the amount of such payment (reduced by applicable withholding taxes, if any) shall be paid to Grantees in respect of the vested portions of their canceled Awards as soon as practicable following the date of the Change in Control and in respect of
the unvested portions of their canceled Awards in accordance with the vesting schedules applicable to such Awards. 

  
 21 

	 	15.2.2.	Change in Control Defined. 

A Change in Control shall mean the occurrence of any of the following events: 

(a) the acquisition, other than from the Company, by any individual, entity or group (within the meaning of
Section 13(d)(3) or Section 14(d)(2) of the Exchange Act), other than the Company or any subsidiary, affiliate (within the meaning of Rule 144 promulgated under the Securities Act of 1933, as amended) or employee benefit plan of the
Company, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the
election of directors (the “Voting Securities”); or 
 (b) a reorganization, merger,
consolidation or recapitalization of the Company (a “Business Combination”), other than a Business Combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting
entity immediately following the Business Combination is held by the persons who, immediately prior to the Business Combination, were the holders of the Voting Securities; or 

(c) a complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the
Company; or 
 (d) during any period of 24 consecutive months, the Incumbent Directors cease to constitute a
majority of the Board of Directors; “Incumbent Directors” shall mean individuals who were members of the Board of Directors at the beginning of such period or individuals whose election or nomination for election to the Board of Directors
by the Company’s stockholders was approved by a vote of at least a majority of the then Incumbent Directors (but excluding any individual whose initial election or nomination is in connection with an actual or threatened proxy contest relating
to the election of directors). 
 Notwithstanding the foregoing, if it is determined that an Award hereunder is subject to the
requirements of Section 409A, the Company will not be deemed to have undergone a Change in Control unless the Company is deemed to have undergone a “change in control event” pursuant to the definition of such term in
Section 409A. 
  

	 	15.3.	Adjustments. 

 Adjustments
under this Section 15 related to shares of Stock or securities of the Company shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. No fractional shares or other securities shall be
issued pursuant to any such adjustment, and any fractions resulting from any such adjustment shall be eliminated in each case by rounding downward to the nearest whole share. 

  
 22 

	16.	NO LIMITATIONS ON COMPANY 

The making of Awards pursuant to the Plan shall not affect or limit 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, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets. 

 

	17.	TERMS APPLICABLE GENERALLY TO AWARDS GRANTED UNDER THE PLAN 

  

	 	17.1.	Disclaimer of Rights. 

 No
provision in the Plan or in any Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company or any Affiliate, or to interfere in any way with any contractual or other right or
authority of the Company either to increase or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship between any individual and the Company. In addition, notwithstanding
anything contained in the Plan to the contrary, unless otherwise stated in the applicable Award Agreement, no Award granted under the Plan shall be affected by any change of duties or position of the Grantee, so long as such Grantee continues to be
a Service Provider. The obligation of the Company to pay any benefits pursuant to this Plan shall be interpreted as a contractual obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The
Plan shall in no way be interpreted to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to any Grantee or beneficiary under the terms of the Plan. 

 

	 	17.2.	Nonexclusivity of the Plan. 

 Neither the adoption of the Plan nor the submission of the Plan to the stockholders of the Company for approval shall be construed as creating any limitations upon the right and authority of the Board to
adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes of individuals or specifically to a particular individual or particular individuals), including, without limitation,
the granting of stock options as the Board in its discretion determines desirable. 
  

	 	17.3.	Withholding Taxes. 

 The
Company or an Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state, or local taxes of any kind required by law to be withheld (i) with respect to the vesting of or
other lapse of restrictions applicable to an Award, (ii) upon the issuance of any shares of Stock upon the exercise of an Option or SAR, or (iii) otherwise due in connection with an Award. At the time of such vesting, lapse, or exercise,
the Grantee shall pay to the Company or the Affiliate, as the case may be, any amount that the Company or the Affiliate may reasonably determine to be necessary to satisfy such withholding obligation. Subject to the prior approval of the Company or
the Affiliate, which may be withheld by the Company or the Affiliate, as the case may be, in its sole discretion, the Grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company or the Affiliate to withhold
the minimum required number of shares of Stock otherwise issuable to 

  
 23 

 
the Grantee as may be necessary to satisfy such withholding obligation or (ii) by delivering to the Company or the Affiliate shares of Stock already owned by the Grantee. The shares of Stock
so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding obligations. The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Company or the Affiliate as
of the date that the amount of tax to be withheld is to be determined. A Grantee who has made an election pursuant to this Section 17.3 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any
repurchase, forfeiture, unfulfilled vesting, or other similar requirements. 
  

	 	17.4.	Right of First Refusal; Right to Repurchase. 

  

	 	17.4.1.	Right of First Refusal. 

Except as otherwise expressly provided in an Award Agreement, stockholders’ agreement or other agreement to which a Grantee is a
party, at any time prior to registration by the Company of its Common Stock under Section 12 of the Exchange Act, the Company shall have a right of first refusal with respect to any proposed sale or other disposition by Grantees (and their
successors in interest by purchase, gift or other mode of transfer) of any shares of Common Stock issued to them under the Plan which are transferable. This right of first refusal shall be exercisable by the Company in accordance with the terms and
conditions established by the Board. 
  

	 	17.4.2.	Right of Repurchase. 

Except as otherwise expressly provided in an Award Agreement, stockholders’ agreement or other agreement to which a Grantee is a
party, at any time prior to registration by the Company of its Common Stock under Section 12 of the Exchange Act, in the case of any Grantee whose Separation from Service is for Cause, or where the Grantee has, in the Board’s reasonable
determination, taken any action prior to or following his Separation of Service which would have constituted grounds for Cause, the Company shall have the right, exercisable at any time and from time to time thereafter, to repurchase from the
Grantee (or any successor in interest by purchase, gift or other mode of transfer) any shares of Common Stock issued to such Grantee under the Plan for the purchase price paid by the Grantee for such shares of Common Stock (or the Fair Market Value
of such Common Stock at the time of repurchase, if lower). 
  

	 	17.5.	Market Standoff Requirement. 

 Except as otherwise expressly provided in an Award Agreement, stockholders’ agreement or other agreement to which a Grantee is a party, in connection with any underwritten public offering of its
Common Stock (“Offering”) and upon request of the Company or the underwriters managing the Offering, during the period commencing on the date of the final prospectus relating to the Offering and ending on the date specified by the
Company and the managing underwriter (such period not to exceed 180 days), or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research
reports and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto), Grantees shall not be

  
 24 

 
permitted to (a) lend, 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, or otherwise transfer or dispose of, directly or indirectly, any shares of Capital Stock held immediately prior to the effectiveness of the registration statement for the IPO, (b) enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of the Capital Stock, or (c) enter into an arrangement with a third party by which such third party engages in any of the foregoing actions for the benefit
of the Grantee, whether any such transaction described in these clauses (a) through (c) is to be settled by delivery of Capital Stock or other securities, in cash or otherwise, without the prior written consent of the Company or such
underwriters, as the case may be. 
  

	 	17.6.	Captions. 

 The use of
captions in this Plan or any Award Agreement is for the convenience of reference only and shall not affect the meaning of any provision of the Plan or any Award Agreement. 

 

	 	17.7.	Other Provisions. 

 Each
Award Agreement may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Board, in its sole discretion. In the event of any conflict between the terms of an employment agreement and the Plan, the terms
of the employment agreement govern. 
  

	 	17.8.	Number and Gender. 

 With
respect to words used in this Plan, the singular form shall include the plural form, the masculine gender shall include the feminine gender, etc., as the context requires. 

 

	 	17.9.	Severability. 

 If any
provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms,
and all provisions shall remain enforceable in any other jurisdiction. 
  

	 	17.10.	   Governing Law. 

 The Plan shall be governed by and construed in accordance with the laws of the State of Wisconsin without giving effect to the principles of conflicts of law, provided that the provisions set forth herein
that are required to be governed by the Delaware General Corporation Law shall be governed by such law. 

  
 25 

	 	17.11.	   Section 409A. 

  

	 	17.11.1.	  Short-Term Deferrals. 

 For each Award intended to comply with the short-term deferral exception provided for under Section 409A, the related Award Agreement shall provide that such Award shall be paid out by the later of
(i) the 15th day of the third month following the Grantee’s first taxable year in which the Award is no longer subject to a substantial risk of forfeiture or (ii) the 15th day of the third month following the end of the Company’s
first taxable year in which the Award is no longer subject to a substantial risk of forfeiture. 
  

	 	17.11.2.	  Adjustments. 

To the extent that the Board determines that a Grantee would be subject to the additional 20% tax imposed on certain deferred compensation
arrangements pursuant to Section 409A as a result of any provision of any Award, to the extent permitted by Section 409A, such provision shall be deemed amended to the minimum extent necessary to avoid application of such additional tax.
The Board shall determine the nature and scope of such amendment. 
  

	 	17.12.	   Separation from Service. 

 The Board shall determine the effect of a Separation from Service upon Awards, and such effect shall be set forth in the appropriate Award Agreement. Without limiting the foregoing, the Board may provide
in the Award Agreements at the time of grant, or any time thereafter with the consent of the Grantee, the actions that will be taken upon the occurrence of a Separation from Service, including, but not limited to, accelerated vesting or termination,
depending upon the circumstances surrounding the Separation from Service. 
  

	 	17.13.  	Transferability of Awards. 

  

	 	17.13.1.	  Transfers in General. 

 Except as provided in Section 17.13.2, no Award shall be assignable or transferable by the Grantee to whom it is granted, other than by will or the laws of descent and distribution,
and, during the lifetime of the Grantee, only the Grantee personally (or the Grantee’s personal representative) may exercise rights under the Plan. 
  

	 	17.13.2.	  Family Transfers. 

 If authorized in the applicable Award Agreement, a Grantee may transfer, not for value, all or part of an Award (other than Incentive Stock Options) to any Family Member. For the purpose of this
Section 17.13.2, a “not for value” transfer is a transfer which is (i) a gift, (ii) a transfer under a domestic relations order in settlement of marital property rights; or (iii) a transfer to an entity in which
more than fifty percent of the voting interests are owned by Family Members (or the Grantee) in exchange for an interest in that entity. Following a transfer under this Section 17.13.2, any such Award shall continue to be subject to the
same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred 

  
 26 

 
Awards are prohibited except to Family Members of the original Grantee in accordance with this Section 17.13.2 or by will or the laws of descent and distribution. 

 

	 	17.14.	  Dividends and Dividend Equivalent Rights. 

 If specified in the Award Agreement, the recipient of an Award under this Plan may be entitled to receive, currently or on a deferred basis, dividends or dividend equivalents with respect to the Common
Stock or other securities covered by an Award. The terms and conditions of a dividend equivalent right may be set forth in the Award Agreement. Dividend equivalents credited to a Grantee may be paid currently or may be deemed to be reinvested in
additional shares of Stock or other securities of the Company at a price per unit equal to the Fair Market Value of a share of Stock on the date that such dividend was paid to shareholders, as determined in the sole discretion of the Board.

  

			
	VP HEALTH, INC.
		
	 By:
	 	/s/    Frank Williams
	 Title:
	 	CEO

  
 27EX-10.9

 Exhibit 10.9 

AMENDMENT NO. 1 
 TO THE

 EVOLENT HEALTH, INC. 2011 EQUITY INCENTIVE PLAN 

This Amendment No. 1 (this “Amendment”) is made by Evolent Health Holdings, Inc. (the “Company”), as of September 23,
2013. Capitalized terms used herein and not otherwise defined shall have the meaning ascribed thereto in the Evolent Health, Inc. 2011 Equity Incentive Plan (the “Plan”). 

WHEREAS, pursuant to (i) that certain Agreement and Plan of Reorganization by and among the Company, Evolent Health, Inc., a
Delaware corporation (“Evolent”) and Evolent Health LLC, a Delaware limited liability company; and (ii) that certain Assignment and Assumption Agreement by and among the Company and Evolent, the Company assumed Evolent’s rights
and obligations under the Plan; 
 WHEREAS, the Company now maintains the Plan; 

WHEREAS, pursuant to Section 5.2 of the Plan, the Board of Directors of the Company reserves the authority to amend the Plan (the
“Board”); and 
 WHEREAS, the Board and the stockholders of the Company have determined that it is in the best interest of
the Company to amend the Plan to provide for an increase in the maximum number of shares of Common Stock reserved and available for issuance under the plan to 2,286,583 and have authorized said increase. 

NOW, THEREFORE, in accordance with the foregoing, the Plan is amended as follows: 

1. The first sentence of Section 3.3 of the Plan is hereby amended and restated in its entirety to read as follows: 

3.3 The grant of any Award shall be evidenced by the Grantee executing the appropriate Award Agreement. 

2. Section 4.1 of the Plan is hereby amended and restated in its entirety to read as follows: 

4.1. Authorized Number of Shares. Subject to adjustment under Section 15, the aggregate number of shares of Common Stock
that may be initially issued pursuant to the Plan is Two Million Two Hundred Eighty-Five Thousand Three Hundred Seventeen (2,285,317) shares. The total number of shares of Common Stock described in the preceding sentence shall be available for
issuance under Incentive Stock Options. Shares issued under the Plan may consist in whole or in part of authorized but unissued shares, treasury shares, or shares purchased on the open market or otherwise, all as determined by the Company from time
to time. No later than the end of the Transition Period, the maximum number of shares for each type of Stock- Based Award, and the maximum amount of cash for any cash-based Award, intended to constitute
“performance-based compensation” under Code Section 162(m) granted to any 

 
Grantee in any specified period shall be established by the Company and approved by the Company’s stockholders. 

3. Except as modified by this Amendment, all the terms and provisions of the Plan shall continue in full force and effect. 

  
 2 

 IN WITNESS WHEREOF, to record the adoption of this Amendment to the Plan, the Company has
caused the execution of this instrument on this 23rd day of September, 2013. 
  

			
	EVOLENT HEALTH HOLDINGS, INC.
		
	By:		 /s/ Seth Blackley

			Name: Seth Blackley
			Title:   President

 [Signature Page to Amendment to Equity Incentive Plan]

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