Document:

EX-4.2

 EXHIBIT 4.2 

TWITTER, INC. 
 2016
EQUITY INCENTIVE PLAN 
 (subject to, and effective as of, stockholder approval at the 2016 Annual Meeting) 

1.     Purposes of the Plan. The purposes of this Plan are: 

 

	 	•	 	to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	to promote the success of the Company’s business. 

 The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares. 

2.    Definitions. As used herein, the following definitions will apply: 

(a)    “Administrator” means the Board or any of its Committees as will be administering the Plan, in
accordance with Section 4 of the Plan. 
 (b)    “Applicable Laws” means the requirements relating to
the administration of equity-based awards and the related issuance of Shares under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and
the applicable securities or exchange control laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 

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

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

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

(i)    A change in the ownership of the Company which occurs on the date that any one person, or more than one
person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the
Company; provided, however, that for 

 
purposes of this subsection, the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the
Company will not be considered a Change in Control; or 
 (ii)    A change in the effective control of the Company
which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the
appointment or election. For purposes of this subsection (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control;
or 
 (iii)    A change in the ownership of a substantial portion of the Company’s assets which occurs on the date
that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more
than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not
constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by
the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or more of the total value or voting power
of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity,
at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of
the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 Notwithstanding the
foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or
final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the
state of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such
transaction. 
 (g)    “Code” means the Internal Revenue Code of 1986, as amended. Reference to a
specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or
superseding such section or regulation. 

  
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 (h)    “Committee” means a committee of Directors or of
other individuals satisfying Applicable Laws appointed by the Board, or a duly authorized committee of the Board, in accordance with Section 4 hereof. 

(i)    “Common Stock” means the common stock of the Company. 

(j)    “Company” means Twitter, Inc., a Delaware corporation, or any successor thereto. 

(k)    “Consultant” means any person, including an advisor, engaged by the Company or a Parent or
Subsidiary to render services to such entity. 
 (l)    “Determination Date” means the latest possible
date that will not jeopardize the qualification of an Award granted under the Plan as “performance-based compensation” under Code Section 162(m). 

(m)    “Director” means a member of the Board. 

(n)    “Disability” means total and permanent disability as defined in Code Section 22(e)(3),
provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the
Administrator from time to time. 
 (o)    “Employee” means any person, including Officers and
Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

(p)    “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

(q)    “Exchange Program” means a program under which (i) outstanding Awards are surrendered or
cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to
a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is increased or reduced. The Administrator will determine the terms and conditions of any Exchange Program
in its sole discretion. 
 (r)    “Fair Market Value” means, as of any date, the value of Common Stock
determined as follows: 
 (i)    If the Common Stock is listed on any established stock exchange or a national market
system, including without limitation the New York Stock Exchange, the NASDAQ 

  
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Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market of The NASDAQ Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid,
if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii)    If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported,
the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids and
asks were reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(iii)    In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good
faith by the Administrator. 
 Notwithstanding the foregoing, if the determination date for the Fair Market Value occurs on a weekend or
holiday, the Fair Market Value will be the price as determined in accordance with subsections (i) through (iv) above (as applicable) on the immediately preceding business day, unless otherwise determined by the Administrator. 

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

(t)    “Incentive Stock Option” means an Option that by its terms qualifies and is intended to qualify as
an incentive stock option within the meaning of Code Section 422 and the regulations promulgated thereunder. 

(u)    “Inside Director” means a Director who is an Employee. 

(v)    “Nonstatutory Stock Option” means an Option that by its terms does not qualify or is not intended
to qualify as an Incentive Stock Option. 
 (w)    “Officer” means a person who is an officer of the
Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(x)    “Option” means a stock option granted pursuant to the Plan. 

(y)    “Outside Director” means a Director who is not an Employee. 

(z)    “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Code Section 424(e). 
 (aa)    “Participant” means the holder of an outstanding Award. 

(bb)    “Performance Goals” will have the meaning set forth in Section 11 of the Plan 

(cc)    “Performance Period” means any Fiscal Year of the Company or such other period as determined by
the Administrator in its sole discretion. 

  
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 (dd)    “Performance Share” means an Award denominated in
Shares which may be earned in whole or in part upon attainment of Performance Goals or other vesting criteria as the Administrator may determine pursuant to Section 10 of the Plan. 

(ee)    “Performance Unit” means an Award which may be earned in whole or in part upon attainment of
Performance Goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10 of the Plan. 

(ff)    “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock
are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as
determined by the Administrator. 
 (gg)    “Plan” means this Twitter, Inc. 2016 Equity Incentive Plan.

 (hh)    “Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 7
of the Plan, or issued pursuant to the early exercise of an Option. 
 (ii)    “Restricted Stock Unit”
means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8 of the Plan. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(jj)    “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect
when discretion is being exercised with respect to the Plan. 

(kk)    “Section 16(b)” means Section 16(b) of the Exchange Act. 

(ll)    “Service Provider” means an Employee, Director or Consultant. 

(mm)    “Share” means a share of the Common Stock, as adjusted in accordance with Section 15 of the Plan.

 (nn)    “Stock Appreciation Right” means an Award, granted alone or in connection with an Option,
that pursuant to Section 9 of the Plan is designated as a Stock Appreciation Right. 

(oo)    “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as
defined in Code Section 424(f). 

3.    Stock Subject to the Plan. 

(a)    Stock Subject to the Plan.
Subject to the provisions of Section 15 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is 6,814,085 Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. 

(b)    Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, is
surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares, is forfeited to or 

  
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repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares), which were subject
thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued (i.e., the net Shares issued) pursuant to a Stock Appreciation Right
will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan
under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares or
Performance Units are repurchased by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations
related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for
issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 15 of the Plan, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share
number stated in subsection 3(a), plus, to the extent allowable under Code Section 422 and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to subsection 3(b). 

(c)    Share Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such
number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 4.    Administration of the
Plan. 
 (a)    Procedure. 

(i)    Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers
may administer the Plan. 
 (ii)    Section 162(m). To the extent that the Administrator
determines it to be desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Code Section 162(m), the Plan will be administered by a Committee of two (2) or more “outside
directors” within the meaning of Code Section 162(m). 
 (iii)    Rule 16b-3. To the extent desirable
to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 

(iv)    Other Administration. Other than as provided above, the Plan will be administered by (A) the Board or
(B) a Committee, which committee will be constituted to satisfy Applicable Laws. 
 (b)    Powers of the
Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i)    to determine the Fair Market Value; 

(ii)    to select the Service Providers to whom Awards may be granted hereunder; 

  
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 (iii)    to determine the number of Shares to be covered by each Award
granted hereunder; 
 (iv)    to approve forms of Award Agreements for use under the Plan; 

(v)    to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted
hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and
any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi)    to institute and determine the terms and conditions of an Exchange Program, provided, however, that no Exchange
Program involving repricing of Options or the surrender or cancellation of Options in exchange for new options (which may have higher or lower exercise prices and different terms) and/or for cash may be instituted without the prior approval of the
Company’s stockholders; 
 (vii)    to construe and interpret the terms of the Plan and Awards granted pursuant to
the Plan; 
 (viii)    to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and
regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; 

(ix)    to modify or amend each Award (subject to Section 20 of the Plan), including but not limited to the
discretionary authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(b) of the Plan regarding Incentive Stock Options); 

(x)    to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section 16 of the
Plan; 
 (xi)    to authorize any person to execute on behalf of the Company any instrument required to effect the
grant of an Award previously granted by the Administrator; 
 (xii)    to allow a Participant to defer the receipt of
the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award; and 

(xiii)    to make all other determinations deemed necessary or advisable for administering the Plan. 

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

5.    Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Performance Shares and Performance Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 

6.    Stock Options. 

(a)    Limitations. 

(i)    Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock
Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under
all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken
into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted. 

(ii)    Subject to Section 15 of the Plan, the following limitations will apply to grants of Options: 

(1)    No Service Provider will be granted, in any Fiscal Year, Options to purchase more than 2,000,000 Shares. 

(2)    In connection with his or her initial service, a Service Provider may be granted Options to purchase up to an
additional 1,000,000 Shares that will not be counted against the limit set forth in subsection (1) above. 
 (3)    The
foregoing limitations will be adjusted proportionately in connection with any change in the Company’s capitalization, as described in Section 15 of the Plan. 

(4)    If an Option is cancelled in the same Fiscal Year in which it was granted (other than in connection with a
transaction described in Section 15 of the Plan), the cancelled Option will be counted against the limits set forth in subsections (1) and (2) above. For this purpose, if the exercise price of an Option is reduced, the transaction will be
treated as a cancellation of the Option and the grant of a new Option. 
 (b)    Term of Option. The term of each
Option will be stated in the Award Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive
Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or
Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement. 

  
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 (c)    Option Exercise Price and Consideration. 

(i)    Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option
will be determined by the Administrator, subject to the following: 
 (1)    In the case of an Incentive Stock Option

 (A)    granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more
than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date
of grant. 
 (B)    granted to any Employee other than an Employee described in paragraph (A) immediately above,
the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 

(2)    In the case of a Nonstatutory Stock Option, the per Share exercise price will be no less than one hundred percent
(100%) of the Fair Market Value per Share on the date of grant. 
 (3)    Notwithstanding the foregoing, Options
may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Code Section 424(a).

 (ii)    Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the
period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 

(iii)    Form of Consideration. The Administrator will determine the acceptable form of consideration for
exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: (1) cash;
(2) check; (3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which
such Option will be exercised and provided that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration received by the Company under
a broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (6) by net exercise; (7) such other consideration and method of payment for
the issuance of Shares to the extent permitted by Applicable Laws; or (8) any combination of the foregoing methods of payment. 

  
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 (d)    Exercise of Option. 

(i)    Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according
to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) a notice of exercise (in such form as the Administrator may specify
from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any
consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the
name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other
rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment
will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 15 of the Plan. 

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised. 
 (ii)    Termination of Relationship as a
Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within such period
of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a
specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination, but in no event later than the expiration of the term of such Option as set forth in the Award
Agreement. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after
termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iii)    Disability of Participant. If a Participant ceases to be a Service Provider as a result of the
Participant’s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration
of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination, but in no event
later than the expiration of the term of such Option as set forth in the Award Agreement. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not 

  
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vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option
within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iv)    Death of Participant. If a Participant dies while a Service Provider, the Option may be exercised
following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised later than the expiration of the term
of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided the right to designate a beneficiary is set forth in the Award Agreement and such beneficiary has been designated prior to
Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the
person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for
twelve (12) months following Participant’s death, but in no event later than the expiration of the term of such Option as set forth in the Award Agreement. Unless otherwise provided by the Administrator, if at the time of death Participant
is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares
covered by such Option will revert to the Plan. 
 (v)    Extension if Exercise Prevented by Law.
Notwithstanding the foregoing, if the exercise of an Option within the applicable time periods set forth in subsection 6(d) is prevented by the provisions of Section 22 below, the Option shall remain exercisable until thirty (30) days (or
such longer period of time as determined by the Administrator, in its discretion) after the date the Participant is notified by the Company that the Option is exercisable (but in no event later than the expiration of the term of such Option as
set forth in the Award Agreement). 
 7.    Restricted Stock. 

(a)    Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time
and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine, provided that during any Fiscal Year no Participant will receive more than an aggregate of
1,000,000 Shares of Restricted Stock, subject to Section 15 of the Plan. Notwithstanding the foregoing limitation, in connection with a Participant’s initial service as an Employee, an Employee may be granted an aggregate of up to an
additional 1,000,000 Shares of Restricted Stock. 
 (b)    Restricted Stock Agreement. Each Award of Restricted
Stock will be evidenced by an Award Agreement that will specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator
determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed. 

  
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 (c)    Transferability. Except as provided in this Section 7 or the
Award Agreement, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d)    Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares
of Restricted Stock as it may deem advisable or appropriate. 
 (e)    Removal of Restrictions. Except as
otherwise provided in this Section 7, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as
the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 

(f)    Voting Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock
granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g)    Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of
Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject
to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 

(h)    Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock
for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

(i)    Section 162(m) Performance Restrictions. For purposes of qualifying grants of Restricted Stock as
“performance-based compensation” under Code Section 162(m), the Administrator, in its discretion, may set restrictions based upon the achievement of Performance Goals. The Performance Goals will be set by the Administrator on or
before the Determination Date. In granting Restricted Stock that is intended to qualify under Code Section 162(m), the Administrator will follow any procedures determined by it from time to time to be necessary or appropriate to ensure
qualification of the Award under Code Section 162(m) (e.g., in determining the Performance Goals). 

  
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 8.    Restricted Stock Units. 

(a)    Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the
Administrator, provided that during any Fiscal Year no Participant will receive Restricted Stock Units covering more than 1,000,000 Shares, subject to Section 15 of the Plan. Notwithstanding the foregoing limitation, in connection with a
Participant’s initial service as an Employee, an Employee may be granted Restricted Stock Units covering up to an additional 1,000,000 Shares. After the Administrator determines that it will grant Restricted Stock Units under the Plan, it will
advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units. 

(b)    Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which,
depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional,
business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its discretion. 

(c)    Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be
entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be
met to receive a payout. 
 (d)    Form and Timing of Payment. Payment of earned Restricted Stock Units will be
made as soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of
both. 
 (e)    Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units
will be forfeited to the Company. 
 (f)    Section 162(m) Performance Restrictions. For purposes of
qualifying grants of Restricted Stock Units as “performance-based compensation” under Code Section 162(m), the Administrator, in its discretion, may set restrictions based upon the achievement of Performance Goals. The
Performance Goals will be set by the Administrator on or before the Determination Date. In granting Restricted Stock Units which are intended to qualify under Code Section 162(m), the Administrator will follow any procedures determined by
it from time to time to be necessary or appropriate to ensure qualification of the Award under Code Section 162(m) (e.g., in determining the Performance Goals). 

9.    Stock Appreciation Rights. 

(a)    Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation
Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion, provided that during any Fiscal Year, no Participant will be granted Stock Appreciation Rights covering
more than 2,000,000 Shares, subject to Section 15 of the Plan. Notwithstanding the foregoing limitation, in connection with a Participant’s initial service as an Employee, an Employee may be granted Stock Appreciation Rights covering up to
an additional 1,000,000 Shares. 

  
 -13- 

 (b)    Number of Shares. The Administrator will have complete
discretion to determine the number of Stock Appreciation Rights granted to any Service Provider. 
 (c)    Exercise
Price and Other Terms. The per share exercise price for the Shares to be issued pursuant to exercise of a Stock Appreciation Right will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair
Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 

(d)    Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award
Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e)    Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon
the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(b) relating to the maximum term and Section 6(d) relating to exercise also
will apply to Stock Appreciation Rights. 
 (f)    Payment of Stock Appreciation Right Amount. Upon exercise of a
Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: 

(i)    The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

 (ii)    The number of Shares with respect to which the Stock Appreciation Right is exercised. 

At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or
in some combination thereof. 

  
 -14- 

 10.    Performance Units and Performance Shares. 

(a)    Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service
Providers at any time and from time to time, as will be determined by the Administrator, in its sole discretion. Subject to Section 15 of the Plan, the Administrator will have complete discretion in determining the number of Performance Units and
Performance Shares granted to each Participant, provided that during any Fiscal Year, (i) no Participant will receive Performance Units having an initial value greater than $2,500,000 and (iii) no Participant will receive more than 1,000,000
Performance Shares. Notwithstanding the foregoing limitation, in connection with a Participant’s initial service as an Employee, an Employee may be granted up to an additional 1,000,000 Performance Shares. 

(b)    Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by
the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 

(c)    Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting
provisions (including, without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to
the Service Providers. The time period during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an Award
Agreement that will specify the Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide,
divisional, business unit or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 

(d)    Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of
Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance
objectives or other vesting provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance
Unit/Share. 
 (e)    Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance
Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate
Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof. 

(f)    Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or
unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 

  
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 (g)    Section 162(m) Performance Restrictions. For purposes of
qualifying grants of Performance Units/Shares as “performance-based compensation” under Code Section 162(m), the Administrator, in its discretion, may set restrictions based upon the achievement of Performance Goals. The
Performance Goals will be set by the Administrator on or before the Determination Date. In granting Performance Units/Shares which are intended to qualify under Code Section 162(m), the Administrator will follow any procedures determined
by it from time to time to be necessary or appropriate to ensure qualification of the Award under Code Section 162(m) (e.g., in determining the Performance Goals). 

11.    Performance-Based Compensation Under Code Section 162(m). 

(a)    General. If the Administrator, in its discretion, decides to grant an Award intended to qualify as
“performance-based compensation” under Code Section 162(m), the provisions of this Section 11 will control over any contrary provision in the Plan; provided, however, that the Administrator may in its discretion grant Awards that are not
intended to qualify as “performance-based compensation” under Code Section 162(m) to such Participants that are based on Performance Goals or other specific criteria or goals but that do not satisfy the requirements of this Section 11.

 (b)    Performance Goals. The granting and/or vesting of Awards of Restricted Stock, Restricted Stock
Units, Performance Shares and Performance Units and other incentives under the Plan may be made subject to the attainment of performance goals relating to one or more business criteria within the meaning of Code Section 162(m) and may provide for a
targeted level or levels of achievement (“Performance Goals”) including (i) cash flow (including operating cash flow or free cash flow), (ii) cash position, (iii) revenue (on an absolute basis or adjusted for currency effects), (iv)
revenue growth, (v) contribution margin, (vi) gross margin, (vii) operating margin, (viii) operating expenses or operating expenses as a percentage of revenue, (ix) earnings (which may include earnings before interest, taxes, depreciation and
amortization, earnings before taxes and net earnings), (x) earnings per share, (xi) operating income, (xii) net income, (xiii) stock price, (xiv) return on equity, (xv) total stockholder return, (xvi) growth in stockholder value relative to a
specified publicly reported index (such as the S&P 500 Index), (xvii) return on capital, (xviii) return on assets or net assets, (xix) return on investment, (xx) economic value added, (xxi) operating profit or net operating profit, (xxii) market
share, (xxiii) contract awards or backlog, (xxiv) overhead or other expense reduction, (xxv) credit rating, (xxvi) objective customer indicators, (xxvii) new product invention or innovation, (xxviii) attainment of research and development
milestones, (xxix) improvements in productivity, (xxx) attainment of objective operating goals, and (xxxi) objective employee metrics. Any Performance Goals may be used to measure the performance of the Company as a whole or, except with
respect to stockholder return metrics, to a region, business unit, affiliate or business segment, and may be measured either on an absolute basis, a per share basis or relative to a pre-established target, to a previous period’s results or to a
designated comparison group, and, with respect to financial metrics, which may be determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”), in accordance with accounting principles established by
the International Accounting Standards Board (“IASB Principles”) or which may be adjusted when established to either exclude any items otherwise includable under GAAP or under IASB Principles or include any items otherwise
excludable under GAAP or under IASB Principles. In all other respects, Performance Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting principles, or under a methodology

  
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established by the Administrator prior to or at the time of the issuance of an Award and which is consistently applied with respect to a Performance Goal in the relevant Performance Period. In
addition, the Administrator will adjust any performance criteria, Performance Goal or other feature of an Award that relates to or is wholly or partially based on the number of, or the value of, any stock of the Company, to reflect any stock
dividend or split, repurchase, recapitalization, combination, or exchange of shares or other similar changes in such stock. The Performance Goals may differ from Participant to Participant and from Award to Award. Prior to the
Determination Date, the Administrator will determine whether any significant element(s) will be included in or excluded from the calculation of any Performance Goal with respect to any Participant.

(c)    Procedures. To the extent necessary to comply with the performance-based compensation provisions of
Code Section 162(m), with respect to any Award granted subject to Performance Goals, within the first twenty five percent (25%) of the Performance Period, but in no event more than ninety (90) days following the commencement of any Performance
Period (or such other time as may be required or permitted by Code Section 162(m)), the Administrator will, in writing, (i) designate one or more Participants to whom an Award will be made, (ii) select the Performance Goals applicable to the
Performance Period, (iii) establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such Performance Period, and (iv) specify the relationship between Performance Goals and the amounts of such Awards,
as applicable, to be earned by each Participant for such Performance Period. Following the completion of each Performance Period, the Administrator will certify in writing whether the applicable Performance Goals have been achieved for such
Performance Period. In determining the amounts earned by a Participant, the Administrator will have the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional
factors that the Administrator may deem relevant to the assessment of individual or corporate performance for the Performance Period. A Participant will be eligible to receive payment pursuant to an Award for a Performance Period only if the
Performance Goals for such period are achieved. 
 (d)    Additional Limitations. Notwithstanding any other
provision of the Plan, any Award which is granted to a Participant and is intended to constitute qualified performance based compensation under Code Section 162(m) will be subject to any additional limitations set forth in the Code (including any
amendment to Code Section 162(m)) or any regulations and ruling issued thereunder that are requirements for qualification as qualified performance-based compensation as described in Code Section 162(m), and the Plan will be deemed amended to the
extent necessary to conform to such requirements. 
 12.    Outside Director Limitations. 

(a)    Cash-Settled Awards. No Outside Director may be granted, in any fiscal year of the Company, cash-settled
Awards with a grant date fair value (determined in accordance with GAAP) of more than $1,000,000, increased to $2,000,000 in connection with his or her initial service. 

(b)    Stock-Settled Awards. No Outside Director may be granted, in any fiscal year of the Company, stock-settled
Awards with a grant date fair value (determined in accordance with GAAP) of more than $1,000,000, increased to $2,000,000 in connection with his or her initial service. 

  
 -17- 

 13.    Leaves of Absence/Transfer Between Locations. Unless the
Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the Company or
(ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is
guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day of such leave any Incentive Stock Option held by the
Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

14.    Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes
an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 

15.    Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a)    Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other
securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the
corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of
Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share limits in Sections 3, 6, 7, 8, 9, and 10 of the Plan. 

(b)    Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the
Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such
proposed action. 
 (c)    Change in Control. In the event of a merger of the Company with or into another
corporation or other entity or a Change in Control, each outstanding Award will be treated as the Administrator determines, including, without limitation, that (i) Awards may be assumed, or substantially equivalent Awards will be substituted,
by the acquiring or succeeding corporation (or an affiliate thereof) with appropriate adjustments as to the number and kind of shares and prices; (ii) upon written notice to a Participant, that the Participant’s Awards will terminate
upon or immediately prior to the consummation of such merger or Change in Control; (iii) outstanding Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior
to or upon consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or immediately prior to the effectiveness of such merger or Change in Control; (iv) (A) the termination of an
Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights as of the date of the

  
 -18- 

 
occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no amount would have been
attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment), or (B) the replacement of such Award with other rights or property selected by the
Administrator in its sole discretion; or (v) any combination of the foregoing. In taking any of the actions permitted under this subsection 15(c), the Administrator will not be required to treat all Awards similarly in the transaction. 

In the event that the successor corporation does not assume or substitute for the Award, the Participant will fully vest in and have the right
to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and,
with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if an Option or
Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a period of
time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the right
to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the 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 Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an
Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market
value to the per share consideration received by holders of Common Stock in the Change in Control. 
 Notwithstanding anything in this
Section 15(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the
Participant’s consent; provided, however, a modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 (d)    Outside Director Awards. With respect to Awards granted to an Outside Director that are assumed or
substituted for, if on the date of or following such assumption or substitution the Participant’s status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the
Participant (unless such resignation is at the request of the acquirer), then the Participant will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award,

  
 -19- 

 
including those Shares which would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with
performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. 

16.    Tax. 

(a)    Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof) or such earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state,
local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof). 

(b)    Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it
may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (a) paying cash, (b) electing to have the Company withhold otherwise deliverable cash
(including cash from the sale of Shares issued to Participant) or Shares having a fair market value equal to the minimum statutory amount required to be withheld, or (c) delivering to the Company already-owned Shares having a fair market value
equal to the minimum statutory amount required to be withheld. The fair market value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

(c)    Compliance With Code Section 409A. Awards will be designed and operated in such a manner
that they are either exempt from the application of, or comply with, the requirements of Code Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code
Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed and interpreted
in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be
granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code
Section 409A. 
 17.    No Effect on Employment or Service. Neither the Plan nor any Award will confer upon
a Participant any right with respect to continuing the Participant’s relationship as a Service Provider with the Company or any Parent or Subsidiary of the Company, nor will they interfere in any way with the Participant’s right or the
Company’s right, or Parent’s or Subsidiary’s right, to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws. 

18.    Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator
makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 

  
 -20- 

 19.    Term of Plan. Subject to Section 23 of the Plan, the Plan will
become effective upon stockholder approval at the 2016 Annual Meeting of Stockholders. It will continue in effect for a term of ten (10) years from the date adopted by the Board, unless terminated earlier under Section 20 of the Plan. 

20.    Amendment and Termination of the Plan. 

(a)    Amendment and Termination. The Administrator may at any time amend, alter, suspend or terminate the Plan.

 (b)    Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Laws. 
 (c)    Effect of Amendment or Termination. No
amendment, alteration, suspension or termination of the Plan will materially impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the
Participant and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

21.    Conditions Upon Issuance of Shares. 

(a)    Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such
Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b)    Investment Representations. As a condition to the exercise of an Award, the Company may require the person
exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 22.    Inability to Obtain Authority. The inability of the Company
to obtain authority from any regulatory body having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any state, federal or foreign law or under the rules and regulations of
the Securities and Exchange Commission, the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the
Company’s counsel to be necessary or advisable for the issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority,
registration, qualification or rule compliance will not have been obtained. 
 23.    Stockholder Approval. The
Plan will be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable
Laws.

  
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 TWITTER, INC. 

2016 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

Unless otherwise defined herein, the terms defined in the Twitter, Inc. 2016 Equity Incentive Plan (the “Plan”) will have the same
defined meanings in this Restricted Stock Unit Agreement, which includes the Notice of Restricted Stock Unit Grant (the “Notice of Grant”), Terms and Conditions of Restricted Stock Unit Grant, attached hereto as Exhibit A, and all
appendices and exhibits attached thereto (the “Award Agreement”). 
 NOTICE OF RESTRICTED STOCK UNIT GRANT 

Participant: 
 Address:

 Participant has been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan
and this Award Agreement, as follows: 
  

					
			
	Grant Number	 	  
	 	
			
	Date of Grant	 	  
	 	
			
	Number of Restricted Stock Units	 	  
	 	

 Vesting Schedule: 

Subject to any acceleration provisions contained in the Plan or set forth in the Award Agreement, the Restricted Stock Units will vest in
accordance with the vesting schedule as described on the Charles Schwab Corporation platform for this Award. 
 By Participant’s
signature below, Participant agrees that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Restricted Stock Unit Grant, attached
hereto as Exhibit A, all of which are made a part of this document. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award
Agreement and fully understands all provisions of the Plan and this Award Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the
Plan and Award Agreement. Participant further agrees to notify Twitter, Inc. upon any change in the residence address indicated above. 
  

	
	PARTICIPANT:
	  

	Signature

 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT 

1.     Grant. The Company hereby grants to the individual named in the Notice of Grant (the
“Participant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement, the Plan, and the Separate Agreement (as defined below and as applicable), which are incorporated herein
by reference.
 2.     Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to
receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested in the manner set forth in Sections 3 or 4, Participant will have no right to payment of any such Restricted Stock Units. Prior to
actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. Any Restricted Stock Units that vest in
accordance with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s death, to his or her estate) in whole Shares, subject to Participant satisfying any obligations for Tax-Related Items (as defined in Section
7). Subject to the provisions of Section 4, such vested Restricted Stock Units shall be paid in whole Shares as soon as practicable after vesting, but in each such case within the period sixty (60) days following the vesting date. In no
event will Participant be permitted, directly or indirectly, to specify the taxable year of the payment of any Restricted Stock Units payable under this Award Agreement. 

3.     Vesting Schedule. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units
awarded by this Award Agreement will vest in accordance with the vesting schedule described on the Charles Schwab Corporation platform for this Award. Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a
certain condition will not vest in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. Unless otherwise
provided by the Administrator, in the event Participant ceases to be a Service Provider for any or no reason before Participant vests in the Restricted Stock Units, the Restricted Stock Units and Participant’s right to acquire any Shares
hereunder will immediately terminate, subject to Applicable Laws. 
 Notwithstanding anything in the Award Agreement to the contrary,
the vesting of the Restricted Stock Units shall be subject to any vesting acceleration provisions applicable to these Restricted Stock Units contained in the Plan and/or any employment or service agreement, offer letter, change in control severance
agreement or policy, or any other agreement or policy that, prior to and effective as of the date of this Award Agreement, has been entered into or agreed upon, as the case may be, between Participant and the Company or any parent or subsidiary
corporation of the Company (such agreement or policy, a “Separate Agreement”) to the extent not otherwise duplicative of the vesting terms described above (by way of example, if a Separate Agreement provides for different acceleration of
vesting provisions for all of Participant’s Restricted Stock Units upon a termination of Participant as a Service Provider for “good reason” that is defined differently, and the Participant’s status as a Service Provider
terminates in a manner that would trigger “good reason” under the Separate Agreement but not under this Award Agreement, the Participant would remain entitled to the acceleration of vesting under the Separate Agreement). 

  
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 4.     Administrator Discretion. The Administrator, in its
discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be
considered as having vested as of the date specified by the Administrator. If Participant is a U.S. taxpayer, the payment of Shares vesting pursuant to this Section 4 shall in all cases be paid at a time or in a manner that is exempt from,
or complies with, Section 409A. The prior sentence may be superseded in a future agreement or amendment to this Award Agreement only by direct and specific reference to such sentence. 

The following paragraphs in this Section 4 apply only if the Participant is a U.S. taxpayer or otherwise subject to U.S.
taxation: Notwithstanding anything in the Plan or this Award Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in connection with Participant’s
termination as a Service Provider (provided that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to Participant’s death, and if (x) Participant is
a “specified employee” within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section
409A if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one (1)
day following the date of Participant’s termination as a Service Provider, unless Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to Participant’s
estate as soon as practicable following his or her death. It is the intent of this Award Agreement that it and all payments and benefits hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock
Units provided under this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under
this Award Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). However, in no event will the Company reimburse Participant, or be otherwise responsible for, any taxes or costs that
may be imposed on Participant as a result of Section 409A. For purposes of this Award Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as
each may be amended from time to time. 
 5.     Forfeiture upon Termination as a Service
Provider. Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and
Participant’s right to acquire any Shares hereunder will immediately terminate, subject to the second paragraph of Section 3 of this Award Agreement and any Applicable Laws. The date of Participant’s termination as a Service Provider
is detailed in Section 10(h). 
 6.     Death of Participant. Any distribution or delivery to be made to
Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of

  
 -3- 

 
Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to
establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 
 7.
    Responsibility for Taxes. Notwithstanding any contrary provision of this Award Agreement, no certificate representing the Shares will be issued to Participant, unless and until satisfactory arrangements (as
determined by the Administrator) will have been made by Participant with respect to the payment of income, employment, social insurance, National Insurance Contributions, payroll tax, fringe benefit tax, payment on account or other tax-related items
related to Participant’s participation in the Plan and legally applicable to Participant, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such
settlement and the receipt of any dividends (“Tax-Related Items”) which the Company determines must be withheld with respect to such Shares. Prior to vesting and/or settlement of the Restricted Stock Units, Participant will pay or
make adequate arrangements satisfactory to the Company and/or Participant’s employer (the “Employer”) to satisfy all withholding and payment obligations of Tax-Related Items of the Company and/or the Employer. In this regard,
Participant authorizes the Company and/or the Employer to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Employer or from proceeds of the
sale of Shares. Alternatively, or in addition, if permissible under applicable local law, the Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require Participant to
satisfy such tax withholding obligation, in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to
be withheld, (c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be
withheld, or (d) if Participant is a U.S. employee, delivering to the Company already vested and owned Shares having a Fair Market Value equal to the amount required to be withheld. To the extent determined appropriate by the Company in its
discretion, it will have the right (but not the obligation) to satisfy any obligations for Tax-Related Items by reducing the number of Shares otherwise deliverable to Participant. Until determined otherwise by the Company, the method specified
in clause (c) will be the method by which such tax withholding obligations are satisfied. Further, if Participant is subject to tax in more than one jurisdiction between the Date of Grant and a date of any relevant taxable or tax withholding
event, as applicable, Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for tax in more than one jurisdiction. If Participant fails to make
satisfactory arrangements for the payment of any Tax-Related Items hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or Tax-Related Items related to Restricted Stock Units
otherwise are due, Participant will permanently forfeit such Restricted Stock Units and any right to receive Shares thereunder and the Restricted Stock Units will be returned to the Company at no cost to the Company. Regardless of any action of
the Company or the Employer, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Participant
further acknowledges that the Company and the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection 

  
 -4- 

 
with any aspect of the Restricted Stock Units; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or
eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.
 8.     Rights as
Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates
representing such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a
stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 
 9.
    No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT
THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES
AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY
PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY
TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 
 10.     Nature of Grant. In accepting the grant,
Participant acknowledges, understands and agrees that: 
  

	 	(a)	the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

  

	 	(b)	the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units,
even if Restricted Stock Units have been granted in the past; 

  

	 	(c)	all decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion of the Company; 

  

	 	(d)	Participant is voluntarily participating in the Plan; 

  

	 	(e)	the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any pension rights or compensation; 

  
 -5- 

	 	(f)	the Restricted Stock Units and the Shares subject to the Restricted Stock Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation,
termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

  

	 	(g)	the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; 

  

	 	(h)	for purposes of the Restricted Stock Units, Participant’s status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent
or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s service
agreement, if any), and unless otherwise expressly provided in this Award Agreement or determined by the Administrator, Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will
not be extended by any notice period (e.g., Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction
where Participant is a Service Provider or the terms of Participant’s service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when
Participant is no longer actively providing services for purposes of the Restricted Stock Units grant (including whether Participant may still be considered to be providing services while on a leave of absence); 

 

	 	(i)	unless otherwise provided in the Plan or by the Company in its discretion, the Restricted Stock Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock Units
or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares; and 

 

	 	(j)	the following provisions apply only if Participant is providing services outside the United States: 

  

	 	i.	the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purpose; 

 

	 	ii.	Participant acknowledges and agrees that none of the Company, the Employer, or any Parent or Subsidiary shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United
States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement; and 

  
 -6- 

	 	iii.	no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units resulting from the termination of Participant’s status as a Service Provider (for any reason whatsoever
whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s service agreement, if any), and in consideration of the grant of the Restricted
Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company, any Subsidiary or the Employer, waives his or her ability, if any, to bring any such claim, and
releases the Company, any Parent, any Subsidiary and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed
irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim. 

11.    No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the
Company making any recommendations or assessments regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal
tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. 

12.    Data Privacy. Participant understands that the
Company and the Employer may collect, where permissible under Applicable Law certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance
number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Restricted Stock Units granted under the Plan or any other entitlement to Shares awarded, canceled, vested,
unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. Participant understands that Company may transfer Participant’s Data to the United
States, which is not considered by the European Commission to have data protection laws equivalent to the laws in Participant’s country. The Company therefore maintains an EU-US Safe Harbor certification to protect Participant’s
data consistent with data protection laws of the EU.  
 Participant understands that the Company will transfer Participant’s Data to its
designated broker, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. Participant understands that the
recipients of the Data may be located in the United States or elsewhere, and that a recipient’s country of operation (e.g., the United States) may have different data privacy laws that the European Commission or Participant’s jurisdiction
does not consider to be equivalent to the protections in Participant’s country. Participant understands that 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.

  
 -7- 

 
Participant authorizes the Company, the Company’s designated broker and any other possible recipients which may assist the Company with implementing, administering and managing the Plan to
receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing Participant’s participation in the Plan. Participant understands that Data will be held only
as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that 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. Further, Participant understands that Participant
is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if Participant later seeks to revoke Participant’s consent, Participant’s employment status or career with the Company or the Employer
will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant Participant Restricted Stock Units under the Plan or other equity awards, or administer
or maintain such awards. Therefore, Participant understands that refusing or withdrawing Participant’s consent may affect Participant’s ability to participate in the Plan. For more information on the consequences of Participant’s
refusal to consent or withdrawal of consent, Participant understands that Participant may contact Participant’s local human resources representative. 

Participant understands that Participant has the right to access, and to request a copy of, the Data held about Participant. Participant also
understands that Participant has the right to discontinue the collection, processing, or use of Participant’s Data, or supplement, correct, or request deletion of Participant’s Data. To exercise Participant’s rights, Participant may
contact Participant’s local human resources representative. 
 Participant hereby explicitly and unambiguously consents to the collection, use
and transfer, in electronic or other form, of Participant’s personal data as described in the Award Agreement and any other Plan materials by and among, as applicable, the Employer, the Company and its Parents, Subsidiaries and affiliates for
the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. Participant understands that Participant’s consent will be sought and obtained for any processing or transfer of
Participant’s data for any purpose other than as described in the Award Agreement and any other plan materials.

13.    Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will
be addressed to the Company at Twitter, Inc., 1355 Market Street, Suite 900, San Francisco, CA 94103, or at such other address as the Company may hereafter designate in writing. 

14.    Grant is Not Transferable. Except to the limited extent provided in Section 6, this grant and the
rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges
conferred hereby immediately will become null and void. 

  
 -8- 

 15.    Binding Agreement. Subject to the limitation on the
transferability of this grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

16.    Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its
discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of any governmental
regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance,
consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Where the Company determines that the delivery of the payment of any Shares will violate federal securities laws or other
applicable laws, the Company will defer delivery until the earliest date at which the Company reasonably anticipates that the delivery of Shares will no longer cause such violation. The Company will make all reasonable efforts to meet the
requirements of any such state, federal or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange.

17.    Award Agreement Governs. This Award Agreement is subject to all terms and provisions of the
Plan. Subject to Section 20(c) of the Plan, in the event of a conflict between one or more provisions of this Award Agreement and one or more provisions of the Plan, the provisions of the Award Agreement will govern. Capitalized terms used
and not defined in this Award Agreement will have the meaning set forth in the Plan. 
 18.    Administrator
Authority. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be
final and binding upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award
Agreement. 
 19.    Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to
deliver any documents related to Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic
means. Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail
or such other means of electronic delivery specified by the Company. Participant consents to the electronic delivery of the Plan and this Award Agreement. Participant acknowledges that he or she may receive from the Company a paper copy of
any documents delivered electronically at no cost to Participant by contacting the Company by telephone or in writing. Participant further acknowledges that Participant will be provided with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Similarly, 

  
 -9- 

 
Participant understands that Participant must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such
documents fails. Participant may revoke his or her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic mail address) at
any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic mail. Finally, Participant understands that he or she is not required to consent to electronic delivery of documents.

 20.    Language. If Participant has received this Award Agreement or any other document related to the
Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, subject to Applicable Laws. 

21.    Captions. Captions provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Award Agreement. 
 22.    Agreement Severable. In the event that any
provision in this Award Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement.

 23.    Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly
warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended,
suspended or terminated by the Company at any time. 
 24.    Governing Law and Venue. This Award Agreement
will be governed by the laws of Delaware without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Award of Restricted Stock Units or this Award Agreement, the parties hereby
submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be conducted in the courts of the County of San Francisco, California, or the federal courts for the United States for the Northern District of
California, and no other courts, where this Award of Restricted Stock Units is made and/or to be performed. 

25.    Country-Specific Terms and Conditions and Notices. Notwithstanding any provisions in this Award
Agreement, the Restricted Stock Unit grant shall be subject to any special terms and conditions set forth in any appendix to this Award Agreement for Participant’s country (the “Appendix”). Moreover, if Participant relocates to
one of the countries included in the Appendix, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or
administrative reasons. The Appendix constitutes part of this Award Agreement. 
 26.    Modifications to the
Award Agreement. The Plan and this Award Agreement constitutes the entire understanding of the parties on the subjects covered. Participant expressly 

  
 -10- 

 
warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Award
Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise
the Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, subject to Applicable Laws, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income
recognition under Section 409A in connection to this Award of Restricted Stock Units. 

27.    Waiver. Participant acknowledges that a waiver by the Company of breach of any provision of this Award
Agreement shall not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by Participant or any other Participant. 

  
 -11- 

 APPENDIX 

TO THE TWITTER, INC. 

RESTRICTED STOCK UNIT AWARD AGREEMENT UNDER
THE 
 2016 EQUITY INCENTIVE PLAN 

FOR NON-U.S. PARTICIPANTS 

Terms and Conditions 
 This Appendix includes
additional terms and conditions that govern the Restricted Stock Units granted to Participant under the Plan if he or she resides in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the
meanings set forth in the Plan and/or the main body of the Award Agreement. 
 Notifications 

This Appendix also includes information regarding exchange controls and certain other issues of which Participant should be aware with respect to his or her
participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective countries as of
[                ], 2016. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the
information in this Appendix as the only source of information relating to the consequences of Participant’s participation in the Plan because the information may be out of date at the time Participant vests in the Shares or sells the Shares
acquired under the Plan. 
 In addition, the information contained herein is general in nature and may not apply to Participant’s particular situation
and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws of Participant’s country may apply to his or her
situation.
 Finally, if Participant is a citizen or resident of a country other than the one in which Participant is currently working or transfers to
another country after the grant of the Restricted Stock Units, or is considered a resident of another country for local law purposes, the information contained herein may not be applicable to Participant in the same manner. In addition, the
Company shall, in its discretion, determine to what extent the terms and conditions contained herein shall apply to Participant under these circumstances.

  
 -12- 

 AUSTRALIA 

Notifications 
 Securities Law
Information. The offering and resale of Shares acquired under the Plan to a person or entity resident in Australia may be subject to disclosure requirements under Australian law. You should obtain legal advice regarding any applicable
disclosure requirements prior to making any such offer. 
 Terms and Conditions 

Australian Securities Laws. If Participant acquires Shares under the Plan and resells them in Australia, he or she may be
required to comply with certain Australian securities law disclosure requirements. 
 Foreign Exchange. Participant
acknowledges and agrees that it is the Participant’s sole responsibility to investigate and comply with any applicable exchange control laws in connection with the inflow of funds from the vesting of the Restricted Stock Units or subsequent
sale of the Shares and any dividends (if any) and that the Participant shall be responsible for any reporting of inbound international fund transfers required under applicable law. The Participant is advised to seek appropriate professional
advice as to how the exchange control regulations apply to the Participant’s specific situation. 
 BRAZIL 

Terms and Conditions 

Compliance with Laws. By accepting the Restricted Stock
Units, Participant acknowledges that Participant agrees to comply with applicable Brazilian laws and to report and pay any and all applicable Tax-Related Items associated with the vesting of the Restricted Stock Units, the sale of the Shares
acquired pursuant thereto and the receipt of any dividends. That Participant agrees that, for all legal purposes: (i) the benefits provided under the Plan are the result of commercial transactions unrelated to the Participant’s employment;
(ii) the Plan is not a part of the terms and conditions of the Participant’s employment; and (iii) the income from the Restricted Stock Units, if any, is not part of the Participant’s remuneration from employment. 

Notifications 
 Report of Overseas
Assets. If Participant is resident or domiciled in Brazil, Participant will be required to submit an annual declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such
assets and rights equals or exceeds US$100,000. Assets and rights that must be reported include, but are not limited to, the Shares acquired under the Plan.

  
 -13- 

 CANADA 

Terms and Conditions 
 Restricted Stock Units
Payable Only in Shares. Notwithstanding anything to the contrary in the Plan or Award Agreement, the grant of Restricted Stock Units does not provide any right for Participant to receive a cash payment, and the Restricted Stock
Units are payable in Shares only. 
 Termination of Continuous Service Status. In the event of Participant’s
termination (for any reason whatsoever, whether or not later found to be invalid and whether or not in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment or service agreement, if
any), Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate effective as of (1) the date that the Participant is no longer actively employed or providing services to the Company or the Parent or
Subsidiary employing or retaining Participant, or at the discretion of the Administrator, (2) the date the Participant receives notice of Termination from the Company or the Parent or Subsidiary employing or retaining Participant, if earlier than
(1), regardless of any notice period or period of pay in lieu of such notice required under local law (including, but not limited to statutory law, regulatory law and/or common law); the Administrator shall have the exclusive discretion to determine
when Participant is no longer actively employed or providing services for purposes of Participant’s RSU grant (including, but not limited to, whether Participant may still be considered actively employed or providing services while on an
approved leave of absence). 
 The following provisions apply if Participant is a resident of Quebec: 

Language Consent. The parties acknowledge that it is their express wish that this Award Agreement, as well as all documents, notices
and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties
reconnaissent avoir expressement souhaité que la convention [“Award Agreement”], ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou
lié, directement ou indirectement à la présente convention, soient rédigés en langue anglaise.
 Data Privacy
Notice and Consent. This provision supplements Section 12 (Data Privacy) of Exhibit A the Award Agreement:
 Participant hereby
authorizes the Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. Participant further authorizes
the Company and any Subsidiary or affiliate and the Administrator to disclose and discuss the Plan with their advisors. Participant further authorizes the Company and any Subsidiary or affiliate to record such information and to keep such
information in Participant’s employee file. 

  
 -14- 

 FRANCE 

Terms and Conditions 
 Language
Consent. By accepting the grant, Participant confirms having read and fully understood the Plan and the Award Agreement which were provided in the English language. Participant accepts the terms of those documents
accordingly. 
 Consentement Relatif à la Langue Utilisée. En
acceptant l’attribution, le Participant confirme avoir lu et compris le Plan et le Contrat, qui ont été communiqués en langue anglaise. Le Participant accepte les termes de ces documents en connaissance de cause. 

Notifications 
 Tax Reporting
Information. If Participant holds Shares outside of France or maintains a foreign bank account, Participant is required to report such to the French tax authorities when filing his or her annual tax return. 

Securities Disclaimer. The grant of the Restricted Stock Units is exempt from the requirement to publish a prospectus under
the EU Prospectus Directive as implemented in France. 
 GERMANY 

Notifications 
 Exchange Control
Information. If Participant remits proceeds in excess of €12,500 out of or into Germany, such cross-border payment must be reported monthly to the State Central Bank. In the event that Participant makes or receives a
payment in excess of this amount, Participant is responsible for obtaining the appropriate form from a German bank and complying with applicable reporting requirements. In addition, the Participant must also report on an annual basis in the
unlikely event that the Participant holds Shares exceeding 10% of the total voting capital of the Company. 
 Securities
Disclaimer. The grant of the Restricted Stock Units is exempt from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Germany. 

INDIA 
 Notifications 

Exchange Control Information. Participant understands and agrees that he or she must repatriate any proceeds from cash settlement or the
sale of Shares acquired under the Plan to India and convert the proceeds into local currency within 90 days of receipt. Participant will receive a foreign inward remittance certificate (“FIRC”) from the bank where he or she deposits the
foreign currency. Participant should maintain the FIRC as evidence of the repatriation of funds in the event the Reserve Bank of India or his or her employer requests proof of repatriation. 

  
 -15- 

 Tax Information. To determine the Tax-Related Items, the Company or the
Participant’s Indian employer must obtain a valuation from a Merchant Banker in India. Neither the Company nor the Indian employer is under any obligation to obtain a valuation at a particular price nor are they required to obtain a
valuation more frequently than every 180 days. 
 IRELAND 

Notifications 
 Director Notification
Obligation. Participant acknowledges that if he or she is a director, shadow director or secretary of an Irish Subsidiary, Participant must notify the Irish Subsidiary in writing within five business days of receiving or
disposing of an interest in the Company (e.g., the Restricted Stock Units, shares, etc.), or within five business days of becoming aware of the event giving rise to the notification requirement or within five business days of becoming a
director or secretary if such an interest exists at the time. This notification requirement also applies with respect to the interests of Participant’s spouse or children under the age of 18 (whose interests will be attributed to
Participant if Participant is a director, shadow director or secretary). 
 Securities Disclaimer. The grant of the Restricted Stock
Units is exempt from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Ireland. 
 ITALY

 Terms and Conditions 
 Authorization
to Release and Transfer Necessary Personal Information. This provision replaces in its entirety Section 12 (Data Privacy) of the Exhibit A of the Award Agreement: 

Participant understands that his or her employer (the “Employer”) and/or the Company may hold certain personal information about him or her,
including, but not limited to, his or her name, home address and telephone number, date of birth, social security number (or any other social or national identification number), salary, nationality, job title, number of shares held and the details
of all Restricted Stock Units granted or any other entitlement to shares awarded, cancelled, exercised, vested, unvested or outstanding (the “Data”) for the purpose of implementing, administering and managing Participant’s
participation in the Plan. Participant is aware that providing the Company with his or her Data is necessary for the performance of this Award Agreement and that his or her refusal to provide such Data would make it impossible for the Company to
perform its contractual obligations and may affect his or her ability to participate in the Plan. 
 The Controller of personal data
processing is Twitter, Inc. 1355 Market Street, Suite 900, San Francisco, CA USA, and, pursuant to D.lgs 196/2003, its representative in Italy is with registered offices at Via Barbara Strozzilaan 201, 1083 HN Amsterdam. Participant understands that
the Data may be transferred to the Company or any of its Subsidiaries or affiliates, or to any third parties assisting in the implementation, administration and management of the Plan, including any transfer required to a broker or other third party
with whom shares acquired pursuant to the vesting of the Restricted Stock Units or cash from the sale of such shares may be deposited. Furthermore, the recipients that may receive, possess, use, retain and

  
 -16- 

 
transfer such Data for the above mentioned purposes may be located in Italy or elsewhere, including outside of the European Union and that the recipients’ country (e.g., the United States)
may have different data privacy laws and protections than Participant’s country. The processing activity, including the transfer of Participant’s personal data abroad, outside of the European Union, as herein specified and pursuant to
applicable laws and regulations, does not require Participant’s consent thereto as the processing is necessary for the performance of contractual obligations related to the implementation, administration and management of the Plan. Participant
understands that Data processing relating to the purposes above specified shall take place under automated or non-automated conditions, anonymously when possible, that comply with the purposes for which Data are collected and with confidentiality
and security provisions as set forth by applicable laws and regulations, with specific reference to D.lgs. 196/2003. 
 Participant
understands that Data will be held only as long as is required by law or as necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that pursuant to art. 7 of D.Igs 196/2003,
he or she has the right, including but not limited to, access, delete, update, request the rectification of his or her Data and cease, for legitimate reasons, the Data processing. Furthermore, Participant is aware that his or her Data will not be
used for direct marketing purposes. In addition, the Data provided can be reviewed and questions or complaints can be addressed by contacting a local representative available at the following address: Via Barbara Strozzilaan 201, 1083 HN
Amsterdam. 
 Plan Document Acknowledgment. In accepting the Restricted Stock Units, Participant acknowledges that he or she
has received a copy of the Plan and the Award Agreement and has reviewed the Plan and the Award Agreement, including this Appendix, in their entirety and fully understands and accepts all provisions of the Plan and the Award Agreement, including
this Appendix. Participant further acknowledges that he or she has read and specifically and expressly approves the following paragraphs of the Award Agreement: Termination, Acknowledgement, Responsibility for Taxes, Data Privacy, Governing Law and
Choice of Venue and Imposition of Other Requirements. 
 Notifications 

Exchange Control Information. Participant is required to report in his or her annual tax return: (a) any transfers of cash or shares to or
from Italy exceeding €10,000 or the equivalent amount in U.S. dollars; and (b) any foreign investments or investments (including proceeds from the sale of Restricted Stock Units acquired under the Plan) held outside of Italy exceeding
€10,000 or the equivalent amount in U.S. dollars, if the investment may give rise to income in Italy. Participant is exempt from the formalities in (a) if the investments are made through an authorized broker resident in Italy, as the
broker will comply with the reporting obligation on Participant’s behalf. 
 Securities Disclaimer. The grant of the
Restricted Stock Units is exempt from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Italy. 

  
 -17- 

 JAPAN 

Notifications 
 Offshore Assets
Reporting. Participant is required to report details of any assets held outside of Japan as of December 31st (including but not limited to any Shares acquired under the Plan), to the
extent such assets have a total net fair market value exceeding ¥50,000,000. Such report is due by March 15th each year. Participant should consult with his or her personal tax advisor as to whether the reporting obligation applies to
Participant and whether Participant will be required to report details of any outstanding Restricted Stock Units or Shares held by Participant in the report. 

NETHERLANDS 
 Notifications

 The Participant should be aware of the Dutch insider trading rules, which may affect the sale of Shares acquired under the Plan. In
particular, Participant may be prohibited from effecting certain share transactions if the Participant has insider information regarding the Company. Below is a discussion of the applicable restrictions. Participant is advised to read the
discussion carefully to determine whether the insider rules could apply to Participant. If it is uncertain whether the insider rules apply, the Company recommends that Participant consult with a legal advisor. The Company cannot be held
liable if the Participant violates the Dutch insider trading rules. Participant is responsible for ensuring your compliance with these rules.

Prohibition Against Insider Trading 
 Dutch
securities laws prohibit insider trading. The regulations are based upon the European Market Abuse Directive and are stated in section 5:56 of the Dutch Financial Supervision Act (Wet op het financieel toezicht or Wft) and in section 2
of the Market Abuse Decree (Besluit marktmisbruik Wft). For further information you are referred to the website of the Authority for the Financial Markets (AFM);
http://www.afm.nl/~/media/Files/brochures/2012/insider-dealing.ashx. 
 Given the broad scope of the definition of inside information, certain
employees of the Company working at its Dutch Affiliate may have inside information and thus are prohibited from making a transaction in securities in the Netherlands at a time when they have such inside information. By entering into this Award
Agreement and participating in the Plan, the Participant acknowledges having read and understood the notification above and acknowledges that it is the Participant’s responsibility to comply with the Dutch insider trading rules, as discussed
herein. 
 Securities Disclaimer. The grant of the Restricted Stock Units is exempt from the requirement to publish a
prospectus under the EU Prospectus Directive as implemented in the Netherlands. 

  
 -18- 

 POLAND 

Notifications 
 Exchange Control
Information. Polish residents holding foreign securities (including shares of Stock) and maintaining accounts abroad must report information to the National Bank of Poland on transactions and balances of the securities and cash
deposited in such accounts if the value of such transactions or balances exceeds €15,000. If required, the reports are due on a quarterly basis by the 20th day following the end of each quarter. The reports are filed on special forms
available on the website of the National Bank of Poland. In addition, Participant should maintain evidence of such foreign exchange transactions for five years, in case of a request for their production by the National Bank of Poland. 

Securities Disclaimer. The grant of the Restricted Stock Units is exempt from the requirement to publish a prospectus under
the EU Prospectus Directive as implemented in Poland. 
 RUSSIA 

Terms and Conditions 
 U.S.
Transaction. Participant understands that the Restricted Stock Units shall be valid and this Award Agreement shall be concluded and become effective only when the Award Agreement is electronically received by the Company in the
United States. Upon vesting of Restricted Stock Units, any Shares to be issued to Participant shall be delivered to him or her through a bank or brokerage account in the United States. Participant is not permitted to sell the shares
directly to other Russian legal entities or individuals nor is Participant permitted to bring the shares into Russia. 
 Notifications 

Securities Law Notification. The Award Agreement, the Plan and all other materials that Participant may receive regarding
participation in the Plan do not constitute advertising or an offering of securities in Russia. Absent any requirement under local law, the issuance of securities pursuant to the Plan has not and will not be registered in Russia; hence, the
securities described in any Plan-related documents may not be used for offering or public circulation in Russia. 
 Depending on the development of local
regulatory requirements, the Company reserves the right to settle the Restricted Stock Units in cash or require the immediate sale of Shares following vesting of the Restricted Stock Units. 

Exchange Control Information. Under current exchange control regulations, within a reasonably short time after sale of the
Shares acquired under the Plan or the receipt of dividends (if any), Participant must repatriate the proceeds to Russia. Such proceeds must initially be credited to Participant through a foreign currency account at an authorized bank in
Russia. After the proceeds are initially received in Russia, they may be further remitted to foreign banks in accordance with Russian exchange control laws. 

  
 -19- 

 Participant is encouraged to contact his or her personal advisor before remitting his or her proceeds to Russia
as exchange control requirements may change. 
 SINGAPORE 

Notifications 
 Securities Law
Information. The grant of the Restricted Stock Units is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities and Futures Act (Chapter 289, 2006 Ed.)
(“SFA”). The Plan has not been lodged or registered as a prospectus with the Monetary Authority of Singapore. Participant should note that the Restricted Stock Units are subject to section 257 of the SFA and Participant will not
be able to make any subsequent sale in Singapore of the Shares acquired through the vesting of the Restricted Stock Units or any offer of such sale in Singapore unless such sale or offer is made pursuant to the exemptions under Part XIII Division
(1) Subdivision (4) (other than section 280) of the SFA. 
 Director Notification Obligation. If Participant is a director, associate
director or shadow director of a Singapore Subsidiary, Participant is subject to certain notification requirements under the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Subsidiary in writing when
Participant receives an interest (e.g., Restricted Stock Units, shares of Stock) in the Company or any Subsidiary. In addition, Participant must notify the Singapore Subsidiary when Participant sells Shares of the Company or any
Subsidiary (including when Participant sells Shares acquired through the vesting of his or her Restricted Stock Units). These notifications must be made within two business days of acquiring or disposing of any interest in the Company or any
Subsidiary. In addition, a notification must be made of Participant’s interests in the Company or any Subsidiary within two business days of becoming a director. 

SOUTH KOREA 
 Notification

 Exchange Control Information. If Participant realizes US$500,000 or more from the sale of Shares or the receipt of
dividends in a single transaction, Participant must repatriate the proceeds to Korea within 18 months of the sale/receipt. Under certain circumstances, separate sales may be deemed a single transaction and aggregated for purposes of the
US$500,000 threshold. Accordingly, Participant is strongly encouraged to consult his or her personal legal advisor if the sum of all such transactions exceeds this threshold. 

SPAIN 
 Terms and Conditions

 Nature of Grant. This provision supplements Section 10 (Nature of Grant) of Exhibit A of the Award Agreement:

 In accepting the Restricted Stock Units, Participant consents to participate in the Plan and acknowledges that he or she has received a copy of the Plan.

  
 -20- 

 Participant understands that the Company has unilaterally, gratuitously, and in its sole discretion decided to
grant Restricted Stock Units under the Plan to individuals who may be employees of the Company or one of its Subsidiaries or affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption
and condition that any grant will not bind the Company or any Subsidiary or affiliate, other than to the extent set forth in the Award Agreement. Consequently, Participant understands that the grant of Restricted Stock Units is made on the
assumption and condition that the Restricted Stock Units and any Shares acquired under the Plan are not part of any employment contract (either with the Company or any Subsidiary or affiliate), and shall not be considered a mandatory benefit, salary
for any purposes (including severance compensation) or any other right whatsoever. Further, Participant understands that the grant of the Restricted Stock Units would not be made but for the assumptions and conditions referred to above; thus,
he or she acknowledges and freely accept that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of or right to the Restricted Stock Units shall be null and void. 

Notifications 
 Tax Reporting Obligation for
Assets Held Abroad. Beginning January 2013, individuals in Spain are required to report assets and right located outside of Spain (which would include Shares or any funds held in a U.S. brokerage account) on Form 720 by
March 31st after each calendar year. A report is not required if the value of assets held outside of Spain is EUR 50,000 or less or if the assets held outside of Spain have not increased by more than EUR 20,000 compared to the previous
year (assuming that a prior report has been filed reporting these assets). Please consult your personal tax advisor for more information on how to complete the report and the specific information on what types of assets are required to be
reported. 
 Exchange Control Information. Participant must declare the acquisition of stock in a foreign company
(including Shares acquired under the Plan) to the Dirección General de Política Comercial e Inversiones Exteriores (“DGPCIE”) of the Ministerio de Economia for statistical purposes. He or she must also
declare ownership of any stock in a foreign company (including Shares acquired under the Plan) with the Directorate of Foreign Transactions each January while the stock is owned. In addition, if Participant wishes to import the share
certificates into Spain, he or she must declare the importation of such securities to the DGPCIE. 
 When receiving foreign currency payments derived from
the ownership of the shares (i.e., dividends or sale proceeds), Participant must inform the financial institution receiving the payment of the basis upon which such payment is made. Participant will need to provide the following
information: (i) his or her name, address, and fiscal identification number; (ii) the name and corporate domicile of the Company; (iii) the amount of the payment and the currency used; (iv) the country of origin; (v) the reasons for the
payment; and (vi) any further information that may be required. 
 Securities Disclaimer. The grant of the Restricted Stock
Units is exempt from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Spain. 

  
 -21- 

 UNITED KINGDOM 

Terms and Conditions 
 Tax Reporting and
Payment Liability. The following provision supplements Exhibit A, Section 7 (Responsibility for Taxes) of the Award Agreement: 
 Participant
agrees that the Company or the Employer may calculate the Tax-Related Items to be withheld and accounted for by reference to the maximum applicable rates, without prejudice to any right Participant may have to recover any overpayment from relevant
U.K. tax authorities. If payment or withholding of any income tax liability arising in connection with Participant’s participation in the Plan is not made by Participant to the Employer within ninety (90) days of the event giving rise to such
income tax liability or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), Participant understands and agrees that the amount of any uncollected income tax will
constitute a loan owed by the Participant to the Employer, effective on the Due Date. Participant understands and agrees that the loan will bear interest at the then-current official rate of Her Majesty’s Revenue and Customs, it will be
immediately due and repayable by the Participant, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to in the Plan and/or this Award Agreement. Notwithstanding the foregoing, Participant
understands and agrees that if he or she is a director or an executive officer of the Company (within the meaning of such terms for purposes of Section 13(k) of the Exchange Act), he or she will not be eligible for such a loan to cover the income
tax liability. In the event that Participant is a director or executive officer and the income tax is not collected from or paid by the Participant by the Due Date, Participant understands that the amount of any uncollected income tax will
constitute an additional benefit to Participant on which additional income tax and National Insurance Contributions will be payable. Participant understands and agrees that he or she will be responsible for reporting and paying any income tax
due on this additional benefit directly to Her Majesty’s Revenue and Customs under the self-assessment regime and for reimbursing the Company or the Employer (as appropriate) for the value of any primary and (to the extent legally possible)
secondary class 1 national insurance contributions due on this additional benefit which the Company or the Employer may recover from the Participant by any of the means referred to in the Plan and/or this Award Agreement. 

Notwithstanding the foregoing, if Participant is an executive officer or director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange
Act of 1934, as amended), the terms of the provision above will not apply. In the event that Participant is an executive office or director and income tax is not collected from or paid by Participant by the Due Date, the amount of any
uncollected income tax will constitute a benefit to Participant on which additional income tax and National Insurance Contributions (“NICs”) (including Employer’s NICs, as defined below) may be payable. Participant understands
that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for reimbursing the Company and/or the Employer (as appropriate) for the value of any
NICs due on this additional benefit. 

  
 -22- 

 Joint Election. 

Tax-Related Items, as defined in Exhibit A, Section 7 shall include Primary and to the extent legally possible Secondary Class 1 National Insurance
Contributions. 
 As a necessary condition of participation in the Plan, Participant agrees to accept any liability for all secondary Class 1 NICs which may
be payable by the Company and/or the Parent or Subsidiary employing or retaining Participant in connection with the Restricted Stock Units and any event giving rise to Tax-Related Items (the “Employer’s NICs”). Without limitation
to the foregoing, Participant agrees to enter into a joint election with the Company (the “Joint Election”), the form of such Joint Election being formally approved by HMRC, and to execute any other consents or elections required to
accomplish the transfer of the entirety of Employer’s NICs to the employee. Participant further agrees to execute such other joint elections as may be required between Participant and any successor to the Company and/or the Parent or
Subsidiary employing or retaining Participant. Participant further agrees that the Company and/or the Parent or Subsidiary employing or retaining Participant may collect the Employer’s NICs from him or her by any of the means set forth in
Exhibit A, Section 7 of the Award Agreement. 
 If Participant does not enter into a Joint Election, if approval of the Joint Election has been withdrawn by
HMRC or if such Joint Election is jointly revoked by Participant and the Company or the Parent or Subsidiary employing or retaining Participant, as applicable, the Company, in its sole discretion and without any liability to the Company or the
Parent or Subsidiary employing or retaining Participant, may choose not to issue or deliver any Shares to the employee upon vesting of the Restricted Stock Units. 

(Joint Election Form on the next page) 
 Notification

 Securities Disclaimer. Neither this Award Agreement nor Appendix is an approved prospectus for the purposes of
section 85(1) of the Financial Services and Markets Act 2000 (“FSMA”) and no offer of transferable securities to the public (for the purposes of section 102B of FSMA) is being made in connection with the Plan. The Plan and the
Restricted Stock Units are exclusively available in the UK to bona fide employees and former employees and any other UK Subsidiary. 
 **** 

End of the Appendix 

  
 -23- 

 JOINT ELECTION FOR THE TRANSFER OF EMPLOYER’S NATIONAL 

INSURANCE CONTRIBUTIONS TO THE EMPLOYEE 

1. Between 
 The Company Twitter UK Ltd (‘the
Secondary Contributor’ who is the employer), whose Registered Office is at 100 NEW BRIDGE ST, LONDON, EC4V 6JA and registered number is 06492580, and  

                    , ‘the Employee’,
whose National Insurance number is                     . 

2. Purpose and scope of election 
 (a) This election
covers 
 (Delete as appropriate*) 
  

	 	•	 	grant of employment related securities options* 

  

	 	•	 	the award of employment related restricted securities and/ or* 

  

	 	•	 	the award of employment related convertible securities * 

 under [enter names of all Schemes/Plans/Individual
awards or grants that may be used] 
  

	 	•	 	Plan: Twitter, Inc. 2016 Equity Incentive Plan (as amended and restated from time to time)* 

  

	 	•	 	Individual awards or grants [Where no specific scheme or plan has been set-up such as the grant of EMI options] :
                                         
                                         
                              * 

(Delete as appropriate*) 
  

	 	•	 	on
                                     
[DD/MM/YYYY]* or 

  

	 	•	 	between                              [DD/MM/YYYY]* and
                             [DD/MM/YYYY]* or 

 

	 	•	 	on or after                           [DD/MM/YYYY]* 

(b) This joint election is made in accordance with Paragraph 3B(1) of Schedule 1 of the Social Security Contributions and Benefits Act 1992 (‘SSCBA
1992’). 
 (c) The Company requests the Employee to enter into this joint election to transfer the liability for the secondary contributor’s
National Insurance contributions (NICs) that arise on any relevant employment income covered by this election from the secondary contributor to the Employee. 

(d) The employer’s National Insurance liability that shall transfer from the employer to the Employee under this joint election is 

(Delete as appropriate*) 
  

	 	•	 	the whole of the secondary liability or 

  

	 	•	 	[    %] of the secondary liability or 

  

	 	•	 	the secondary liability on gains in excess of [£                    ] 

  
 -24- 

 Relevant employment income from securities and options specified in 2(a) on which employer’s NICs
becomes due is defined as: 
 i. an amount that counts as employment income of the earner under section 426 of ITEPA 2003 (restricted
securities: charge on certain post-acquisition events),ii. an amount that counts as employment income of the earner under section 438 of that Act (convertible securities: charge on certain post-acquisition events), oriii. any gain that is treated as
remuneration derived from the earner’s employment by virtue of section 4(4)(a) SSCBA 1992. 
 (e) This joint election will not apply to the extent that
it relates to relevant employment income which is employment income of the earner by virtue of Chapter 3A of Part 7 of ITEPA 2003 (employment income: securities with artificially depressed market value). 

(f) This election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective
effect by virtue of section 4B(2) of either the Social Security Contributions and Benefits Act 1992 or the Social Security Contributions and Benefits (Northern Ireland) Act 1992. 

3. Arrangements for payment of secondary NICs 
 (a) In
signing this joint-election the Employee authorises the Company, or other body (if applicable), to recover an amount sufficient to cover the liability for the employer’s NICs transferred under this election in accordance with the arrangements
summarised below [and further detailed in the attached scheme/plan/personal arrangement, [delete where necessary]]. 
  

	 	•	 	A deduction from salary or other payments due. 

  

	 	•	 	The delivery in cleared funds from the Employee in sufficient time to enable the Company to make payment to HM Revenue & Customs (HMRC). 

 

	 	•	 	The sale of sufficient shares acquired from the Employee’s securities option following notification to the Company Secretary/Scheme Administrator (delete as necessary or add other party if applicable), the proceeds
of which must be delivered to the Company in sufficient time for payment to be made to HMRC by the due date. 

  

	 	•	 	A deduction from any cash payment, treated as Relevant Employment Income, given to the Employee. 

  

	 	•	 	Where the proceeds of the gain are to be made through a third party, the Employee will authorise that party to withhold an amount from the payment or to sell shares sufficient to cover the secondary NICs transferred.
Such amount will be paid in sufficient time to enable the Company to make payment to HMRC by the due date. 

 (b) The Company and the Employee
will ensure that payment of the liability for the secondary NICs will be made to HMRC within 14 days following the end of the Income Tax month in which the relevant employment income arises – the due date. 

  
 -25- 

 The Employee understands that in making this election they will be personally liable for the secondary NICs
covered by this election. 
 4. Duration of this election 

(a) This joint election shall continue in force from the time it is made until whichever of the following first takes place: 

 

	 	•	 	The Company gives notice to the Employee terminating the joint election 

  

	 	•	 	it is cancelled jointly by the Company and the Employee 

  

	 	•	 	it ceases to have effect in accordance with the terms of the joint election 

  

	 	•	 	HMRC serves notice on the Company that the approval of the joint election has been withdrawn 

 (b) The terms of
this joint-election will continue in full force regardless of whether the Employee ceases to be an employee of the Company. 
 5. Declaration 

In signing this joint election both the Company and the Employee agree to be bound by its terms as stated above. 

 

			
	Signature of Employee	  	Date        /      /        
		
	Signature for the Company	  	Date        /      /        
		
	Position in Company	  	

  
 -26- 

 TWITTER, INC. 

2016 EQUITY INCENTIVE PLAN 

PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 

Unless otherwise defined herein, the terms defined in the Twitter, Inc. 2016 Equity Incentive Plan (the “Plan”) will have the same
defined meanings in this Performance-Based Restricted Stock Unit Agreement, which includes the Notice of Performance-Based Restricted Stock Unit Grant (the “Notice of Grant”), Terms and Conditions of Performance-Based Restricted Stock Unit
Grant, attached hereto as Exhibit A and the Performance-Based Restricted Stock Unit Matrix (the “Performance Matrix”), attached hereto as Exhibit B, and all appendices, schedules, and exhibits attached thereto (the
“Award Agreement”). 
 NOTICE OF PERFORMANCE-BASED RESTRICTED STOCK UNIT GRANT 

 

					
	 Participant:
	  	  
	  	
			
	 Address:
	  	  
	  	
			
		  	  
	  	

 Participant has been granted the right to receive an Award of Performance-Based Restricted Stock Units,
subject to the terms and conditions of the Plan and this Award Agreement, as follows: 
  

			
	Grant Number	  	<award_id>
		
	Date of Grant	  	<award_date>
		
	Vesting Commencement Date	  	The date following an applicable Performance Period on which the Administrator determines that the applicable performance metrics have been satisfied for the Performance-Based Restricted Stock Units.
		
	Performance Period	  	<performance_period>
		
	Performance Matrix	  	The number of Performance-Based Restricted Stock Units in which Participant may vest in accordance with the Vesting Schedule below will depend upon achievement of performance metrics set forth in and in accordance with the
Performance Matrix, attached hereto as Exhibit B. Any Performance-Based Restricted Stock Units that are earned based on achievement of the performance metrics set forth in the attached Performance Matrix shall be referred to herein as
“Earned Units” and be eligible for vesting in accordance with the “Vesting Schedule” below.
		
	Target Number of Performance-Based Restricted Stock Units	  	Up to a maximum of <shares_awarded>.

 Vesting Schedule: 

Subject to any acceleration provisions contained in the Plan or set forth below (including the Exhibits hereto), any Earned Units will vest in
accordance with the vesting schedule as described on the Charles Schwab Corporation platform for this Award. 
 By Participant’s
signature below, Participant agrees that this Award of Performance-Based Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Performance-Based
Restricted Stock Unit Grant, attached hereto as Exhibit A, and the Performance Matrix, attached hereto as Exhibit B, all of which are made a part of this document, all of which are made a part of this document. Participant
has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Award Agreement and fully understands all provisions of the Plan and this Award
Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Award Agreement. Participant further agrees to notify the
Company upon any change in the residence address indicated below. 
  

	
	PARTICIPANT:
	  

	Signature

  
 -2- 

 EXHIBIT A 

TERMS AND CONDITIONS OF PERFORMANCE-BASED RESTRICTED STOCK UNIT GRANT 

1.    Grant. The Company hereby grants to the individual named in the Notice of Grant (the
“Participant”) under the Plan an Award of Performance-Based Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement, the Plan, and the Separate Agreement (as applicable), which are incorporated herein by
reference.
 2.    Company’s Obligation to Pay. Each Performance-Based Restricted Stock Unit represents
the right to receive a Share on the date it vests. Unless and until the Performance-Based Restricted Stock Units will have vested in the manner set forth in Sections 3 or 4, Participant will have no right to payment of any such
Performance-Based Restricted Stock Units. Prior to actual payment of any vested Performance-Based Restricted Stock Units, such Performance-Based Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all)
only from the general assets of the Company. Any Performance-Based Restricted Stock Units that vest in accordance with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s death, to his or her estate) in whole
Shares, subject to Participant satisfying any obligations for Tax-Related Items (as defined in Section 7). Subject to the provisions of Section 4, such vested Performance-Based Restricted Stock Units shall be paid in whole Shares as soon as
practicable after vesting, but in each such case within the period sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of the payment of any
Performance-Based Restricted Stock Units payable under this Award Agreement. 
 3.    Vesting
Schedule. Except as provided in Section 4, and subject to Section 5, the Performance-Based Restricted Stock Units awarded by this Award Agreement will vest in in accordance with the vesting schedule described on the Charles Schwab
Corporation platform for this Award. Performance-Based Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award
Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. Unless otherwise provided by the Administrator, in the event Participant ceases to be a Service Provider for any
or no reason before Participant vests in the Performance-Based Restricted Stock Units, the Performance-Based Restricted Stock Units and Participant’s right to acquire any Shares hereunder will immediately terminate, subject to Applicable
Laws. 
 Notwithstanding the foregoing, the vesting of the Performance-Based Restricted Stock Units shall be subject to any vesting
acceleration provisions applicable to these Performance-Based Restricted Stock Units contained in the Plan, the Award Agreement and/or any employment or service agreement, offer letter, change in control severance agreement or policy, or any other
agreement or policy that, prior to and effective as of the date of this Award Agreement, has been entered into or agreed upon, as the case may be, between Participant and the Company or any parent or subsidiary corporation of the Company (such
agreement or policy, a “Separate Agreement”) to the extent not otherwise duplicative of the vesting terms described above (by way of example, if a Separate Agreement provides for different acceleration of vesting provisions for all of
Participant’s Performance-Based Restricted Stock Units upon a termination of Participant as a Service Provider for “good reason” that is defined differently, and the Participant’s status as a Service Provider terminates in a
manner that would trigger “good reason” under the Separate Agreement but not under this Award Agreement, the Participant would remain entitled to the acceleration of vesting under the Separate Agreement). 

 4.    Administrator Discretion. The Administrator, in its
discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Performance-Based Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Performance-Based
Restricted Stock Units will be considered as having vested as of the date specified by the Administrator. If Participant is a U.S. taxpayer, the payment of Shares vesting pursuant to this Section 4 shall in all cases be paid at a time or in a
manner that is exempt from, or complies with, Section 409A. The prior sentence may be superseded in a future agreement or amendment to this Award Agreement only by direct and specific reference to such sentence. 

The following paragraphs in this Section 4 apply only if the Participant is a U.S. taxpayer or otherwise subject to U.S.
taxation: Notwithstanding anything in the Plan or this Award Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance, of the Performance-Based Restricted Stock Units is accelerated in connection with
Participant’s termination as a Service Provider (provided that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to Participant’s death, and
if (x) Participant is a “specified employee” within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Performance-Based Restricted Stock Units will result in the
imposition of additional tax under Section 409A if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the payment of such accelerated Performance-Based Restricted Stock
Units will not be made until the date six (6) months and one (1) day following the date of Participant’s termination as a Service Provider, unless Participant dies following his or her termination as a Service Provider, in which case, the
Performance-Based Restricted Stock Units will be paid in Shares to Participant’s estate as soon as practicable following his or her death. It is the intent of this Award Agreement that it and all payments and benefits hereunder be exempt
from, or comply with, the requirements of Section 409A so that none of the Performance-Based Restricted Stock Units provided under this Award Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A,
and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). However,
in no event will the Company reimburse Participant, or be otherwise responsible for, any taxes or costs that may be imposed on Participant as a result of Section 409A. For purposes of this Award Agreement, “Section 409A” means Section
409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time to time. 

5.    Forfeiture upon Termination as a Service Provider. Notwithstanding any contrary provision of this Award
Agreement, the balance of the Performance-Based Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will
immediately terminate, subject to the second paragraph of Section 3 of this Award Agreement and Applicable Laws. The date of Participant’s termination as a Service Provider is detailed in Section 10(h). 

6.    Death of Participant. Any distribution or delivery to be made to Participant under this Award Agreement
will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company
with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

7.    Responsibility for Taxes. Notwithstanding any contrary provision of this Award Agreement, no certificate
representing the Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of

  
 -2- 

 
income, employment, social insurance, National Insurance Contributions, payroll tax, fringe benefit tax, payment on account or other tax-related items related to Participant’s participation
in the Plan and legally applicable to Participant, including, but not limited to, the grant, vesting or settlement of the Performance-Based Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of
any dividends (“Tax-Related Items”) which the Company determines must be withheld with respect to such Shares. Prior to vesting and/or settlement of the Performance-Based Restricted Stock Units, Participant will pay or make adequate
arrangements satisfactory to the Company and/or Participant’s employer (the “Employer”) to satisfy all withholding and payment obligations of Tax-Related Items of the Company and/or the Employer. In this regard, Participant
authorizes the Company and/or the Employer to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Employer or from proceeds of the sale of
Shares. Alternatively, or in addition, if permissible under applicable local law, the Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require Participant to satisfy such
tax withholding obligation, in whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be withheld,
(c) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld, or
(d) if Participant is a U.S. employee, delivering to the Company already vested and owned Shares having a Fair Market Value equal to the amount required to be withheld. To the extent determined appropriate by the Company in its discretion, it
will have the right (but not the obligation) to satisfy any obligations for Tax-Related Items by reducing the number of Shares otherwise deliverable to Participant. Until determined otherwise by the Company, the method specified in clause (c)
will be the method by which such tax withholding obligations are satisfied. Further, if Participant is subject to tax in more than one jurisdiction between the Date of Grant and a date of any relevant taxable or tax withholding event, as applicable,
Participant acknowledges and agrees that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for tax in more than one jurisdiction. If Participant fails to make satisfactory arrangements
for the payment of any Tax-Related Items hereunder at the time any applicable Performance-Based Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or Tax-Related Items related to Performance-Based Restricted Stock
Units otherwise are due, Participant will permanently forfeit such Performance-Based Restricted Stock Units and any right to receive Shares thereunder and the Performance-Based Restricted Stock Units will be returned to the Company at no cost to the
Company. Regardless of any action of the Company or the Employer, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the
Company or the Employer. Participant further acknowledges that the Company and the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Performance-Based
Restricted Stock Units; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Performance-Based Restricted Stock Units to reduce or eliminate Participant’s liability for Tax-Related Items
or achieve any particular tax result. 
 8.    Rights as Stockholder. Neither Participant nor any person
claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares will have been issued, recorded on
the records of the Company or its transfer agents or registrars, and delivered to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such
Shares and receipt of dividends and distributions on such Shares. 
 9.    No Guarantee of Continued
Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE PERFORMANCE-BASED RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE

  
 -3- 

 
PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF PERFORMANCE-BASED
RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR
IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR
RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 

10.    Nature of Grant. In accepting the grant, Participant acknowledges, understands and agrees that: 

(a)    the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended,
suspended or terminated by the Company at any time, to the extent permitted by the Plan; 
 (b)    the grant of the
Performance-Based Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Performance-Based Restricted Stock Units, or benefits in lieu of Performance-Based Restricted Stock
Units, even if Performance-Based Restricted Stock Units have been granted in the past; 
 (c)    all decisions with
respect to future Performance-Based Restricted Stock Units or other grants, if any, will be at the sole discretion of the Company; 

(d)    Participant is voluntarily participating in the Plan; 

(e)    the Performance-Based Restricted Stock Units and the Shares subject to the Performance-Based Restricted Stock Units
are not intended to replace any pension rights or compensation; 
 (f)    the Performance-Based Restricted Stock Units
and the Shares subject to the Performance-Based Restricted Stock Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal,
end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

(g)    the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; 

(h)    for purposes of the Performance-Based Restricted Stock Units, Participant’s status as a Service Provider will
be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of
employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s service agreement, if any), and unless otherwise expressly provided in this Award Agreement or determined by the Administrator,
Participant’s right to vest in the Performance-Based Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant’s period of service would not
include any contractual 

  
 -4- 

 
notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms of
Participant’s service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for
purposes of the Performance-Based Restricted Stock Units grant (including whether Participant may still be considered to be providing services while on a leave of absence); 

(i)    unless otherwise provided in the Plan or by the Company in its discretion, the Performance-Based Restricted Stock
Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Performance-Based Restricted Stock Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or
substituted for, in connection with any corporate transaction affecting the Shares; and 
 (j)    the following
provisions apply only if Participant is providing services outside the United States: 
  

	 	i.	the Performance-Based Restricted Stock Units and the Shares subject to the Performance-Based Restricted Stock Units are not part of normal or expected compensation or salary for any purpose; 

 

	 	ii.	Participant acknowledges and agrees that none of the Company, the Employer, or any Parent or Subsidiary shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United
States Dollar that may affect the value of the Performance-Based Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the Performance-Based Restricted Stock Units or the subsequent sale of any Shares acquired
upon settlement; and 

  

	 	iii.	no claim or entitlement to compensation or damages shall arise from forfeiture of the Performance-Based Restricted Stock Units resulting from the termination of Participant’s status as a Service Provider (for any
reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s service agreement, if any), and in consideration of the grant
of the Performance-Based Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company, any Subsidiary or the Employer, waives his or her ability, if any, to
bring any such claim, and releases the Company, any Parent, any Subsidiary and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan,
Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim. 

11.    No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the
Company making any recommendations or assessments regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal
tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. 

  
 -5- 

 12.    Data Privacy. Participant understands that the Company
and the Employer may collect, where permissible under Applicable Law certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or
other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Performance-Based Restricted Stock Units granted under the Plan or any other entitlement to Shares awarded, canceled,
vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. Participant understands that Company may transfer Participant’s
Data to the United States, which is not considered by the European Commission to have data protection laws equivalent to the laws in Participant’s country. The Company therefore maintains an EU-US Safe Harbor certification to
protect Participant’s data consistent with data protection laws of the EU. 
 Participant understands that the Company will
transfer Participant’s Data to its designated broker, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the
Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that a recipient’s country of operation (e.g., the United States) may have different data privacy laws that the European
Commission or Participant’s jurisdiction does not consider to be equivalent to the protections in Participant’s country. Participant understands that 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 authorizes the Company, the Company’s designated broker and any other possible recipients which may assist the Company with
implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing Participant’s participation in the
Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that 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. Further, Participant understands that Participant is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if Participant later seeks to revoke Participant’s consent,
Participant’s employment status or career with the Company or the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant
Participant Performance-Based Restricted Stock Units under the Plan or other equity awards, or administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing Participant’s consent may affect
Participant’s ability to participate in the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that Participant may contact Participant’s local
human resources representative. 
 Participant understands that Participant has the right to access, and to request a copy of, the Data held about
Participant. Participant also understands that Participant has the right to discontinue the collection, processing, or use of Participant’s Data, or supplement, correct, or request deletion of Participant’s Data. To exercise
Participant’s rights, Participant may contact Participant’s local human resources representative. 
 Participant hereby explicitly and
unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in the Award Agreement and any other Plan materials by and among, as applicable, the Employer, the Company and
its Parents, Subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. Participant understands that Participant’s consent will be sought and obtained for
any processing or transfer of Participant’s data for any purpose other than as described in the Award Agreement and any other plan materials. 

  
 -6- 

 13.    Address for Notices. Any notice to be given to the Company
under the terms of this Award Agreement will be addressed to the Company at Twitter, Inc., 1355 Market Street, Suite 900, San Francisco, CA 94103, or at such other address as the Company may hereafter designate in writing. 

14.    Grant is Not Transferable. Except to the limited extent provided in Section 6, this grant and the
rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges
conferred hereby immediately will become null and void. 
 15.    Binding Agreement. Subject to the
limitation on the transferability of this grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

16.    Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its
discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of any governmental
regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance,
consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Where the Company determines that the delivery of the payment of any Shares will violate federal securities laws or other
applicable laws, the Company will defer delivery until the earliest date at which the Company reasonably anticipates that the delivery of Shares will no longer cause such violation. The Company will make all reasonable efforts to meet the
requirements of any such state, federal or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange. 

17.    Award Agreement Governs. This Award Agreement is subject to all terms and provisions of the
Plan. Subject to Section 20(c) of the Plan, in the event of a conflict between one or more provisions of this Award Agreement and one or more provisions of the Plan, the provisions of the Award Agreement will govern. Capitalized terms used
and not defined in this Award Agreement will have the meaning set forth in the Plan. 
 18.    Administrator
Authority. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of whether or not any Performance-Based Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Administrator in good
faith will be final and binding upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan
or this Award Agreement. 
 19.    Electronic Delivery and Acceptance. The Company may, in its sole
discretion, decide to deliver any documents related to Performance-Based Restricted Stock Units awarded under the Plan or future Performance-Based Restricted Stock Units that may be awarded under the Plan by electronic means or request
Participant’s consent to participate in the Plan by electronic means. Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the Internet site of a third party involved
in administering the Plan, the delivery of the document via e-mail or such other means of 

  
 -7- 

 
electronic delivery specified by the Company. Participant consents to the electronic delivery of the Plan and this Award Agreement. Participant acknowledges that he or she may receive
from the Company a paper copy of any documents delivered electronically at no cost to Participant by contacting the Company by telephone or in writing. Participant further acknowledges that Participant will be provided with a paper copy of any
documents if the attempted electronic delivery of such documents fails. Similarly, Participant understands that Participant must provide the Company or any designated third party administrator with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Participant may revoke his or her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an
electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service or electronic mail. Finally, Participant understands that he or she is not required to consent to
electronic delivery of documents. 
 20.    Language. If Participant has received this Award Agreement or
any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, subject to Applicable Laws. 

21.    Captions. Captions provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Award Agreement. 
 22.    Agreement Severable. In the event that any
provision in this Award Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement.

 23.    Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly
warrants that he or she has received an Award of Performance-Based Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may
be amended, suspended or terminated by the Company at any time. 
 24.    Governing Law and Venue. This
Award Agreement will be governed by the laws of Delaware without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Award of Performance-Based Restricted Stock Units or this
Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be conducted in the courts of the County of San Francisco, California, or the federal courts for the United
States for the Northern District of California, and no other courts, where this Award of Performance-Based Restricted Stock Units is made and/or to be performed. 

25.    Country-Specific Terms and Conditions and Notices. Notwithstanding any provisions in this Award
Agreement, the Performance-Based Restricted Stock Unit grant shall be subject to any special terms and conditions set forth in any appendix to this Award Agreement for Participant’s country (the “Appendix”). Moreover, if
Participant relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary
or advisable for legal or administrative reasons. The Appendix constitutes part of this Award Agreement. 

26.    Modifications to the Award Agreement. The Plan and this Award Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained
herein. Modifications to this Award Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the

  
 -8- 

 
contrary in the Plan or this Award Agreement, the Company reserves the right to revise the Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of
Participant, subject to Applicable Laws, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection to this Award of Performance-Based Restricted Stock Units. 

27.    Waiver. Participant acknowledges that a waiver by the Company of breach of any provision of this Award
Agreement shall not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by Participant or any other Participant. 

28.    Clawback. The Performance-Based Restricted Stock Units (including any proceeds, gains or other economic
benefit received by the Participant from a subsequent sale of Shares issued upon vesting) will be subject to any Company clawback policy as may be adopted or amended from time to time. 

  
 -9- 

 EXHIBIT B 

PERFORMANCE-BASED RESTRICTED STOCK UNIT MATRIX 

The following terms shall apply to the Award of Performance-Based Restricted Stock Units granted to the Participant identified in the Notice of Grant to which
this Performance-Based Restricted Stock Unit Matrix is attached. Unless otherwise defined herein, capitalized terms shall have the meanings set forth in the Plan or Award Agreement, as applicable. 

 

			
	 Performance Metrics and

Weighting:
	  	
		
	Award Determination and Payout:	  	The Administrator will determine achievement of the performance metrics in the first quarter following each completed fiscal year. The actual number of Performance-Based Restricted Stock Units subject to vesting under the Award
Agreement, if any, upon achievement of the performance metrics will be rounded down to the nearest whole number so as to avoid fractional units, and will be referred to in the Award Agreement and its Exhibits as “Earned Units.”

 SCHEDULE 1 

PERFORMANCE METRICS 
 Fiscal Year

 TWITTER, INC. 

2016 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

Unless otherwise defined herein, the terms defined in the Twitter, Inc. 2016 Equity Incentive Plan (the “Plan”) will have the same
defined meanings in this Stock Option Agreement including the Notice of Stock Option Grant (the “Notice of Grant”), the Terms and Conditions of Stock Option Grant, and the exhibits and appendices attached thereto (all together, the
“Agreement”). 
 NOTICE OF STOCK OPTION GRANT 
  

			
	Participant:	  	                                     
                                         
      
		
	 Address:
	  	                                     
                                         
      
		
		  	                                     
                                         
      

 Participant has been granted an Option to purchase Shares of Twitter, Inc. (the “Company”),
subject to the terms and conditions of the Plan and this Agreement, as follows: 
  

			
	Grant Number	  	                                     
                                         
      
		
	Date of Grant	  	                                     
                                         
      
		
	Vesting Commencement Date	  	                                     
                                         
      
		
	Number of Shares Granted	  	                                     
                                         
      
		
	Exercise Price per Share	  	$                                      
                                         
   
		
	Total Exercise Price	  	$                                      
                                         
   
		
	Type of Option	  	     Incentive Stock Option
		
		  	     Nonstatutory Stock Option
		
	Term/Expiration Date	  	                                     
                                         
      

 Vesting Schedule: 

Subject to any acceleration provisions applicable to this Option contained in the Plan and/or any employment or service agreement, offer
letter, change in control severance agreement or policy, or any other agreement or policy that, prior to and effective as of the date of this Agreement, the Option will vest in accordance with the vesting schedule as described on the Charles
Schwab Corporation platform for this Option. 
 Termination Period: 

Except as provided in a Separate Agreement, this Option will be exercisable for three (3) months after Participant ceases to be a Service
Provider, unless such termination is due to Participant’s death or Disability, in which case this Option will be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence,
if the exercise of the Option within the applicable time periods set forth in the preceding sentence is prevented by Section 20 of the Plan, the Option shall remain exercisable until thirty (30) days (or such longer period of time as determined by
the Administrator, in its discretion) after the date Participant is notified by the Company that the Option is exercisable, but in any event no later than the expiration of the term of the Option as set forth in the Notice of
Grant. Notwithstanding anything herein to the contrary, in no event may this Option be exercised after the Term/Expiration Date as provided above and may be subject to earlier termination as provided in Section 15(c) of the Plan.

By Participant’s signature below, Participant agrees that this Option is granted under and governed by the terms and conditions of the
Plan and this Agreement, including exhibits hereto, all of which are made a part of this document. Participant has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing
this Agreement and fully understands all provisions of the Plan and Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan
and Agreement. Participant further agrees to notify Twitter, Inc. upon any change in the residence address indicated above. 
  

					
	PARTICIPANT:	 		 	
			
	  
 Signature
	 		 	

  
 2 

 EXHIBIT A 

TERMS AND CONDITIONS OF STOCK OPTION GRANT 

1.    Grant of Option. The Company hereby grants to the Participant named in the Notice of Grant (the
“Participant”) an option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”), subject to all of
the terms and conditions in this Agreement, the Plan, and the Separate Agreement (as applicable), which are incorporated herein by reference. Subject to Section 20(c) of the Plan, in the event of a conflict between the terms and conditions of
the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan will prevail. 

(a)    The following paragraph applies only if the Participant is a U.S. taxpayer or otherwise subject to U.S.
taxation: The Option will be designated as either an Incentive Stock Option (“ISO”) or a Nonstatutory Stock Option (“NSO”). If designated in the Notice of Grant as an ISO, this Option is intended to qualify as an ISO
under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). However, if this Option is intended to be an ISO, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it will be treated as an
NSO. Further, if for any reason this Option (or portion thereof) will not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event will
the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.

(b)    For non-U.S. taxpayers and Participants not subject to U.S. taxation, the Option will be designated as an NSO. 

2.    Vesting Schedule. Except as provided in Section 3, the Option awarded by this Agreement will vest in
accordance with the vesting schedule described on the Charles Schwab Corporation platform for this Option. Shares scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with
any of the provisions of this Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. 

3.    Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the
balance, or some lesser portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. 

4.    Exercise of Option.

(a)    Right to Exercise. This Option may be exercised only within the term set out in the Notice of Grant, and
may be exercised during such term only in accordance with the Plan and the terms of this Agreement. 

  
 3 

 (b)    Method of Exercise. This Option is exercisable by delivery
of an exercise notice (the “Exercise Notice”), in the form attached as Exhibit B or in a manner and pursuant to such procedures as the Administrator may determine, which will state the election to exercise the Option, the number of
Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice will be
completed by Participant and delivered to the Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together and of any Tax-Related Items (as defined in Section 6(a)). This
Option will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price.

5.    Method of Payment. Payment of the aggregate Exercise Price will be by any of the following, or a
combination thereof, at the election of Participant: 
 (a)    cash; 

(b)    check; 

(c)    consideration received by the Company under a formal cashless exercise program adopted by the Company in connection
with the Plan; or 
 (d)    if Participant is a U.S. employee, surrender of other Shares which have a Fair Market Value
on the date of surrender equal to the aggregate Exercise Price of the Exercised Shares and that are owned free and clear of any liens, claims, encumbrances, or security interests, provided that accepting such Shares, in the sole discretion of the
Administrator, will not result in any adverse accounting consequences to the Company. 
 6.    Tax
Obligations.
 (a)    Responsibility for Taxes. Notwithstanding any contrary provision of this Agreement,
no certificate representing the Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of income, employment, social
insurance, National Insurance Contributions, payroll tax, fringe benefit tax, payment on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant including, without limitation,
in connection with the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired under the Plan and/or the receipt of any dividends on such Shares which the Company determines must be withheld (“Tax-Related
Items”). To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any Tax-Related Items by reducing the number of Shares otherwise deliverable to Participant. If
Participant fails to make satisfactory arrangements for the payment of any required Tax-Related Items hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse to
deliver the Shares if such amounts are not delivered at the time of exercise. Participant authorizes the Company and/or the Employer to withhold any Tax-Related Items legally payable by Participant from his or her wages or other cash
compensation paid to Participant by the Company and/or the Employer or from proceeds of the sale of Shares. Further, 

  
 4 

 
if Participant is subject to tax in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges and
agrees that the Company and/or Participant’s employer (the “Employer”), or former employer, as applicable, may be required to withhold or account for tax in more than one jurisdiction. Regardless of any action of the Company or
the Employer, Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Participant further
acknowledges that the Company and the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option; and (2) do not commit to and are under no obligation to
structure the terms of the grant or any aspect of the Option to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.

(b)    Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an
ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, or (ii) the date one (1) year after the date of exercise, Participant
will immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant. 

(c)    Code Section 409A. Under Code Section 409A, an option that vests after December 31, 2004 (or that
vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per share exercise price that is determined by the Internal Revenue Service (the “IRS”) to be less than the fair market value
of a share on the date of grant (a “Discount Option”) may be considered “deferred compensation.” A Discount Option may result in (i) income recognition by Participant prior to the exercise of the option, (ii) an additional
twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The Discount Option may also result in additional state income, penalty and interest charges to Participant. Participant acknowledges that the
Company cannot and has not guaranteed that the IRS will agree that the per Share Exercise Price of this Option equals or exceeds the Fair Market Value of a Share on the Date of Grant in a later examination. Participant agrees that if the IRS
determines that the Option was granted with a per Share Exercise Price that was less than the Fair Market Value of a Share on the Date of Grant, Participant will be solely responsible for Participant’s costs related to such a determination.

 7.    Rights as Stockholder. Neither Participant nor any person claiming under or through Participant
will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the
records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation and delivery, Participant will have all the rights of a
stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 

8.    No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES
PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH 

  
 5 

 
UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW IS AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED
THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF
CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING
PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE LAWS. 

9.    Service Acknowledgments. In accepting the Option, Participant acknowledges, understands and agrees that:

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

(c)    all decisions with respect to future option or other grants, if any, will be at the sole discretion of the Company;

 (d)    Participant is voluntarily participating in the Plan; 

(e)    the Option and any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

 (f)    the Option and Shares acquired under the Plan and the income and value of same, are not part of normal or
expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

(g)    the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with
certainty; 
 (h)    if the underlying Shares do not increase in value, the Option will have no value; 

(i)    if Participant exercises the Option and acquires Shares, the value of such Shares may increase or decrease in
value, even below the Exercise Price; 

  
 6 

 (j)    for purposes of the Option, Participant’s engagement as a Service
Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be invalid or in
breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s engagement agreement, if any), and unless otherwise expressly provided in this Agreement or determined by the Administrator, (i)
Participant’s right to vest in the Option under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant’s period of service would not include any contractual notice period or
any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or Participant’s engagement agreement, if any, unless Participant is providing bona fide
services during such time); and (ii) the period (if any) during which Participant may exercise the Option after such termination of Participant’s engagement as a Service Provider will commence on the date Participant ceases to actively
provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant is employed or terms of Participant’s engagement agreement, if any; the Administrator shall have the exclusive
discretion to determine when Participant is no longer actively providing services for purposes of his or her Option grant (including whether Participant may still be considered to be providing services while on a leave of absence); 

(k)    unless otherwise provided in the Plan or by the Company in its discretion, the Option and the benefits evidenced by
this Agreement do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the
Shares; and 
 (l)     the following provisions apply only if Participant is providing services outside the United
States: 
  

	 	(i)	the Option and the Shares subject to the Option are not part of normal or expected compensation or salary for any purpose; 

  

	 	(ii)	Participant acknowledges and agrees that none of the Company, the Employer, or any Parent or Subsidiary shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United
States Dollar that may affect the value of the Option or of any amounts due to Participant pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise; and 

 

	 	(iii)	 no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from the
termination of Participant’s engagement as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of
Participant’s engagement agreement, if any), and in consideration of the grant of the Option to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company, any Parent, any
Subsidiary or the Employer, waives his or 

  
 7 

	 	
her ability, if any, to bring any such claim, and releases the Company, any Subsidiary and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a
court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such
claim. 

 10.    No Advice Regarding Grant. The Company is not providing any tax, legal or
financial advice, nor is the Company making any recommendations or assessments regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult
with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. 

11.    Data Privacy. Participant understands that the Company and the Employer may
collect, where permissible under applicable law, certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other
identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Options or any other entitlement to stock awarded, canceled, exercised, vested, unvested or outstanding in
Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. Participant understands that Company may transfer Participant’s Data to the United
States, which is not considered by the European Commission to have data protection laws equivalent to the laws in Participant’s country. The Company therefore maintains an EU-US Safe Harbor certification to
protect any data consistent with data protection laws of the EU. Participant understands that the Company will transfer Participant’s Data to a stock plan service provider as may be selected by the Company in the future, which is assisting the
Company with the implementation, administration and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipient’s
country (e.g., the United States) may have different data privacy laws that the European Commission or Participant’s jurisdiction does not consider to be equivalent to the protections in Participant’s
country. Participant understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local
human resources representative. Participant authorizes the Company and any other possible recipients which may assist the Company with implementing, administering and managing the Plan to receive, possess, use,
retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing Participant’s participation in the Plan. Participant understands that Data will be
held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that if he or she resides outside the United States, he or she 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 his or her local human
resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if
Participant later seeks to revoke his or her consent, his or her engagement as a Service Provider and career with the Employer will not be adversely  

  
 8 

 
affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant Participant Options or other equity awards or
administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in the Plan. For more information on the consequences of
Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative. Participant understands that Participant has the right to access, and to request a
copy of, the Data held about Participant. Participant also understands that Participant has the right to discontinue the collection, processing, or use of Participant’s Data, or supplement, correct, or request deletion of any of
Participant’s Data. To exercise Participant’s rights, Participant may contact Participant’s local human resources representative. Participant hereby explicitly and unambiguously consents to the collection, use and transfer,
in electronic or other form, of Participant’s personal data as described in this Agreement and any other Option grant materials by and among, as applicable, the Employer, the Company and any Parent or Subsidiary for the exclusive purpose of
implementing, administering and managing Participant’s participation in the Plan. Participant understands that Participant’s consent will be sought and obtained for any processing or transfer of Participant’s Data for any purpose
other than as described in the Agreement and any other Plan materials. 
 12.    Address for
Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company at Twitter, Inc., 1355 Market Street, Suite 900, San Francisco, CA 94103, or at such other address as the Company may
hereafter designate in writing. 
 13.    Non-Transferability of Option. This Option may not be transferred
in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant.

14.    Binding Agreement. Subject to the limitation on the transferability of this grant contained herein,
this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

15.    Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its
discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of any governmental
regulatory authority is necessary or desirable as a condition to the purchase by, or issuance of Shares to, Participant (or his or her estate) hereunder, such purchase or issuance will not occur unless and until such listing, registration,
qualification, rule compliance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. The Company will make all reasonable efforts to meet the requirements of any such state,
federal or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange. Assuming such compliance, for income tax purposes the Exercised Shares will be considered
transferred to Participant on the date the Option is exercised with respect to such Exercised Shares. 
 16.    Plan
Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will
govern. Capitalized terms used and not defined in this Agreement will have the meaning set forth in the Plan. 

  
 9 

 17.    Administrator Authority. The Administrator will have the
power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the
determination of whether or not any Shares subject to the Option have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all
other interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 

18.    Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any
documents related to Options awarded under the Plan or future options that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to
receive such documents by such means of electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company which may, but do not necessarily, include the delivery of a link to
a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other means of electronic delivery specified by the Company. Participant consents to the electronic
delivery of the Plan documents and this Agreement. Participant acknowledges that he or she may receive from the Company a paper copy of any documents delivered electronically at no cost to Participant by contacting the Company by telephone or
in writing. Participant further acknowledges that Participant will be provided with a paper copy of any documents if the attempted electronic delivery of such documents fails. Similarly, Participant understands that Participant must
provide the Company or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such documents fails. Participant may revoke his or her consent to the electronic delivery of documents
or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone,
postal service or electronic mail. Finally, Participant understands that he or she is not required to consent to electronic delivery of documents. 

19.    Captions. Captions provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Agreement. 
 20.    Language. If Participant has received this
Agreement, or any other document related to the Option and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, subject to
Applicable Laws. 
 21.    Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement. 

  
 10 

 22.    Amendment, Suspension or Termination of the Plan. By
accepting this Award, Participant expressly warrants that he or she has received an Option under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may
be amended, suspended or terminated by the Company at any time. 
 23.    Governing Law and Venue. This
Agreement will be governed by the laws of Delaware, without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Agreement, the parties hereby submit to and
consent to the jurisdiction of the State of California, and agree that such litigation will be conducted in the courts of the County of San Francisco, California, or the federal courts for the United States for the Northern District of
California, and no other courts, where this Option is made and/or to be performed. 
 24.    Country-Specific
Terms and Conditions and Notices. Notwithstanding any provisions in this Agreement, the Option grant shall be subject to any special terms and conditions set forth in any appendix to this Agreement for Participant’s country (the
“Appendix”). Moreover, if Participant relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application
of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement. 

25.    Modifications to the Agreement. This Agreement constitutes the entire understanding of the parties on
the subjects covered. Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan
can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise this Agreement as it deems
necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Code Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code in connection with
the Option. 
 26.    Waiver. Participant acknowledges that a waiver by the Company of breach of any
provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by Participant or any other Participant. 

  
 11 

 EXHIBIT B 

TWITTER, INC. 
 2016
EQUITY INCENTIVE PLAN 
 EXERCISE NOTICE 

Twitter, Inc. 
 1355 Market Street, Suite 900 

San Francisco, CA 94103 
 Attention: Stock Administration

 1.    Exercise of Option. Effective as of today,
                    ,         , the undersigned (“Purchaser”) hereby elects to purchase
                    shares (the “Shares”) of the Common Stock of Twitter, Inc. (the “Company”) under and pursuant to the 2016
Equity Incentive Plan (the “Plan”) and the Stock Option Agreement dated                     and including the Notice of Grant, the Terms
and Conditions of Stock Option Grant, and exhibits attached thereto (the “Option Agreement”). The purchase price for the Shares will be $            , as required by the
Option Agreement. 
 2.    Delivery of Payment. Purchaser herewith delivers to the Company the full purchase
price of the Shares and any required tax withholding to be paid in connection with the exercise of the Option. 

3.    Representations of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood
the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 
 4.    Rights
as Stockholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a
stockholder will exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired will be issued to Purchaser as soon as practicable after exercise of the Option. No adjustment will
be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 15 of the Plan. 

5.    Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax consequences as a result
of Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is
not relying on the Company for any tax advice. 
 6.    Entire Agreement; Governing Law. The Plan and
Agreement are incorporated herein by reference. This Exercise Notice, the Plan and the Agreement constitute the entire agreement of 

  
 12 

 
the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof,
and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This agreement is governed by the internal substantive laws, but not the choice of law rules, of Delaware. 

 

			
	Submitted by:	  	Accepted by:
		
	PURCHASER	  	TWITTER, INC.
		
	     
	  	  

	Signature	  	By
	  
	  	  

	Print Name	  	Its
		
	Address:	  	
		
	  
	  	
		
	  
	  	
		
		  	  

		  	Date Received

  
 13 

 APPENDIX 

TO THE TWITTER, INC. 

2016 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

FOR NON-U.S. PARTICIPANTS 
 Terms and
Conditions 
 This Appendix includes additional terms and conditions that govern the Option granted to Participant under the Plan if he or she
resides in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the main body of the Agreement. 

Notifications 
 This Appendix also includes
information regarding exchange controls and certain other issues of which Participant should be aware with respect to his or her participation in the Plan. The information is based on the securities, exchange control and other laws in effect in
the respective countries as of [                ] 2016. Such laws are often complex and change frequently. As a result, the Company strongly recommends that
Participant not rely on the information in this Appendix as the only source of information relating to the consequences of Participant’s participation in the Plan because the information may be out of date at the time Participant exercises the
Option or sells the Shares acquired under the Plan. 
 In addition, the information contained herein is general in nature and may not apply to
Participant’s particular situation and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws of
Participant’s country may apply to his or her situation.
 Finally, if Participant is a citizen or resident of a country other than the one in which
Participant is currently working or transfers to another country after the grant of the Option, or is considered a resident of another country for local law purposes, the information contained herein may not be applicable to Participant in the same
manner. In addition, the Company shall, in its discretion, determine to what extent the terms and conditions contained herein shall apply to Participant under these circumstances.

  
 14 

 AUSTRALIA 

Notifications 
 Securities Law
Information. The offering and resale of Shares acquired under the Plan to a person or entity resident in Australia may be subject to disclosure requirements under Australian law. Participant should obtain legal advice regarding any
applicable disclosure requirements prior to making any such offer. 
 BRAZIL 

Terms and Conditions 
 Compliance with
Law. By accepting the Option, Participant acknowledges and agrees to comply with applicable Brazilian laws and to report and pay any and all applicable Tax-Related Items. Participant agrees that, for all legal purposes: (i) the
benefits provided under the Plan are the result of commercial transactions unrelated to the Participant’s employment; (ii) the Plan is not a part of the terms and conditions of the Participant’s employment; and (iii) the income from the
Option, if any, is not part of the Participant’s remuneration from employment. 
 Notifications 

Report of Overseas Assets. If Participant is resident or domiciled in Brazil, Participant will be required to submit an annual
declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights equals or exceeds US$100,000. Assets and rights that must be reported include, but are not limited to, the
Shares acquired under the Plan.
 CANADA 

Terms and Conditions 
 Termination of
Continuous Service Status. In the event of Participant’s termination (for any reason whatsoever, whether or not later found to be invalid and whether or not in breach of employment laws in the jurisdiction where
Participant is employed or the terms of Participant’s employment or service agreement, if any), Participant’s right to vest in the Options under the Plan, if any, will terminate effective as of (1) the date that the Participant is no
longer actively employed or providing services to the Company or the Parent or Subsidiary employing or retaining Participant, or at the discretion of the Administrator, (2) the date the Participant receives notice of Termination from the Company or
the Parent or Subsidiary employing or retaining Participant, if earlier than (1), regardless of any notice period or period of pay in lieu of such notice required under local law (including, but not limited to statutory law, regulatory law and/or
common law); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed or providing services for purposes of Participant’s Option grant (including, but not limited to, whether Participant
may still be considered actively employed or providing services while on an approved leave of absence). 

  
 15 

 The following provisions apply if Participant is a resident of Quebec: 

Language Consent. The parties acknowledge that it is their express wish that this Agreement, as well as all documents, notices and
legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties
reconnaissent avoir expressement souhaité que la convention [“Agreement”], ainsi que tous les documents, avis et procédures judiciaries, éxecutés, donnés ou intentés en vertu de, ou lié,
directement ou indirectement à la présente convention, soient rédigés en langue anglaise.
 Data Privacy Notice and
Consent. This provision supplements Section 11 (Data Privacy) of Exhibit A the Agreement:
 Participant hereby authorizes the Company
and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. Participant further authorizes the Company and any
Subsidiary or affiliate and the Administrator to disclose and discuss the Plan with their advisors. Participant further authorizes the Company and any Subsidiary or affiliate to record such information and to keep such information in
Participant’s employee file. 
 FRANCE 

Terms and Conditions 
 Language
Consent. By accepting the grant, Participant confirms having read and fully understood the Plan and the Agreement which were provided in the English language. Participant accepts the terms of those documents accordingly.

 Consentement Relatif à la Langue Utilisée. En acceptant
l’attribution, le Participant confirme avoir lu et compris le Plan et le Contrat, qui ont été communiqués en langue anglaise. Le Participant accepte les termes de ces documents en connaissance de cause. 

Notifications 
 Tax Reporting
Information. If Participant holds Shares outside of France or maintains a foreign bank account, Participant is required to report such to the French tax authorities when filing his or her annual tax return. 

Securities Disclaimer. The grant of the Option is exempt or excluded from the requirement to publish a prospectus under the
EU Prospectus Directive as implemented in France. 
 GERMANY 

Notifications 
 Exchange Control
Information. If Participant remits proceeds in excess of €12,500 out of or into Germany, such cross-border payment must be reported monthly to the State Central Bank. In the event that Participant makes or receives a
payment in excess of this amount, Participant is 

  
 16 

 
responsible for obtaining the appropriate form from a German bank and complying with applicable reporting requirements. In addition, Participant must also report on an annual basis in the
unlikely event that Participant holds Shares exceeding 10% of the total voting capital of the Company. 
 Securities Disclaimer. The
participation in the Plan is exempt or excluded from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Germany. 

INDIA 
 Notifications 

Exchange Control Information. Indian residents are required to repatriate any cash dividends paid on Shares acquired under the Plan and any
proceeds from the sale of such Shares to India within 90 days of receipt. Upon repatriation, the individual will receive a foreign inward remittance certificate (“FIRC”) from the bank where he or she deposits the foreign currency and
he or she should maintain the FIRC as evidence of the repatriation of funds in the event the Reserve Bank of India or the Employer requests proof of repatriation. It is Participant’s responsibility to comply with applicable exchange
control laws in India. 
 Tax Reporting Obligation. Indian residents are required to declare the following items in their annual tax return: (i)
any foreign assets held by them (including Shares acquired under the Plan), and (ii) any foreign bank accounts for which they have signing authority. It is Participant’s responsibility to comply with applicable foreign asset tax laws in
India and Participant should consult with Participant’s personal tax advisor to ensure that Participant is properly reporting Participant’s foreign assets and bank accounts. 

IRELAND 
 Notifications 

Director Notification Obligation. Participant acknowledges that if he or she is a director, shadow director or secretary of an Irish
Subsidiary, Participant must notify the Irish Subsidiary in writing within five business days of receiving or disposing of an interest in the Company (e.g., the Option, Shares, etc.), or within five business days of becoming aware of the
event giving rise to the notification requirement or within five business days of becoming a director or secretary if such an interest exists at the time. This notification requirement also applies with respect to the interests
of Participant’s spouse or children under the age of 18 (whose interests will be attributed to Participant if Participant is a director, shadow director or secretary). 

Securities Disclaimer. The grant of the Option is exempt or excluded from the requirement to publish a prospectus under the EU Prospectus
Directive as implemented in Ireland. 

  
 17 

 ITALY 

Terms and Conditions 
 Authorization to
Release and Transfer Necessary Personal Information. This provision replaces in its entirety Section 11 (Data Privacy) of the Exhibit A of the Agreement: 

Participant understands that his or her employer (the “Employer”) and/or the Company may hold certain personal information about him or her,
including, but not limited to, his or her name, home address and telephone number, date of birth, social security number (or any other social or national identification number), salary, nationality, job title, number of shares held and the details
of all Options granted or any other entitlement to shares awarded, cancelled, exercised, vested, unvested or outstanding (the “Data”) for the purpose of implementing, administering and managing Participant’s participation in the Plan.
Participant is aware that providing the Company with his or her Data is necessary for the performance of this Agreement and that his or her refusal to provide such Data would make it impossible for the Company to perform its contractual obligations
and may affect his or her ability to participate in the Plan. 
 The Controller of personal data processing is [INSERT] USA, and, pursuant to
D.lgs 196/2003, its representative in Italy is with registered offices at Via [INSERT]. Participant understands that the Data may be transferred to the Company or any of its Subsidiaries or affiliates, or to any third parties assisting in the
implementation, administration and management of the Plan, including any transfer required to a broker or other third party with whom shares acquired pursuant to the vesting or exercise of the Options or cash from the sale of such shares may be
deposited. Furthermore, the recipients that may receive, possess, use, retain and transfer such Data for the above mentioned purposes may be located in Italy or elsewhere, including outside of the European Union and that the recipients’ country
(e.g., the United States) may have different data privacy laws and protections than Participant’s country. The processing activity, including the transfer of Participant’s personal data abroad, outside of the European Union, as herein
specified and pursuant to applicable laws and regulations, does not require Participant’s consent thereto as the processing is necessary for the performance of contractual obligations related to the implementation, administration and management
of the Plan. Participant understands that Data processing relating to the purposes above specified shall take place under automated or non-automated conditions, anonymously when possible, that comply with the purposes for which Data are collected
and with confidentiality and security provisions as set forth by applicable laws and regulations, with specific reference to D.lgs. 196/2003. 

Participant understands that Data will be held only as long as is required by law or as necessary to implement, administer and manage Participant’s
participation in the Plan. Participant understands that pursuant to art. 7 of D.Igs 196/2003, he or she has the right, including but not limited to, access, delete, update, request the rectification of his or her Data and cease, for
legitimate reasons, the Data processing. Furthermore, Participant is aware that his or her Data will not be used for direct marketing purposes. In addition, the Data provided can be reviewed and questions or complaints can be addressed by contacting
a local representative available at the following address: [INSERT]. 
 Plan Document Acknowledgment. In accepting the
Option, Participant acknowledges that he or she has received a copy of the Plan and the Agreement and has reviewed the Plan and the Agreement, including this Appendix, in their entirety and fully understands and accepts all provisions of the
Plan and the Agreement, including this Appendix. Participant further acknowledges that he or she has read and specifically and expressly approves the following paragraphs of the Agreement: Service Acknowledgements, Responsibility for Taxes, Data
Privacy, Governing Law and Venue and Additional Conditions to Issuance of Stock. 

  
 18 

 Notifications 

Exchange Control Information. Participant is required to report in his or her annual tax return: (a) any transfers of cash or shares to or
from Italy exceeding €10,000 or the equivalent amount in U.S. dollars; and (b) any foreign investments or investments (including proceeds from the sale of Shares acquired under the Plan) held outside of Italy exceeding €10,000 or the
equivalent amount in U.S. dollars, if the investment may give rise to income in Italy. Participant is exempt from the formalities in (a) if the investments are made through an authorized broker resident in Italy, as the broker will comply with
the reporting obligation on Participant’s behalf. 
 Securities Disclaimer. The grant of the Options is exempt or
excluded from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Italy. 
 JAPAN 

Notifications 
 Offshore Assets
Reporting. Participant is required to report details of any assets held outside of Japan as of December 31st (including but not limited to any Shares acquired under the Plan), to the
extent such assets have a total net fair market value exceeding ¥50,000,000. Such report is due by March 15th each year. Participant should consult with his or her personal tax advisor as to whether the reporting obligation applies to
Participant and whether Participant will be required to report details of any outstanding Options or Shares held by Participant in the report. 

KOREA 
 Notification 

Exchange Control Information. If Participant realizes US$500,000 or more from the sale of Shares or the receipt of dividends in a
single transaction, Participant must repatriate the proceeds to Korea within 18 months of the sale/receipt. Under certain circumstances, separate sales may be deemed a single transaction and aggregated for purposes of the US$500,000
threshold. Accordingly, Participant is strongly encouraged to consult his or her personal legal advisor if the sum of all such transactions exceeds this threshold. 

NETHERLANDS 
 Notifications

 Participant should be aware of the Dutch insider trading rules, which may affect the sale of Shares acquired under the Plan. In particular,
participant may be prohibited from effecting certain share transactions if participant has insider information regarding the Company. Below is a discussion of the applicable restrictions. Participant is advised to read the discussion
carefully to determine whether the insider rules could apply to participant. If it is uncertain whether the insider rules apply, the Company recommends that participant consult with a legal advisor. The Company cannot be held liable if
participant violates the Dutch insider trading rules. Participant is responsible for ensuring Participant’s compliance with these rules.

  
 19 

 Prohibition Against Insider Trading 

Dutch securities laws prohibit insider trading. The regulations are based upon the European Market Abuse Directive and are stated in section 5:56 of the
Dutch Financial Supervision Act (Wet op het financieel toezicht or Wft) and in section 2 of the Market Abuse Decree (Besluit marktmisbruik Wft). For further information, Participant is referred to the website of the Authority for the
Financial Markets (AFM); http://www.afm.nl/~/media/Files/brochures/2012/insider-dealing.ashx. 
 Given the broad scope of the definition of
inside information, certain employees of the Company working at its Dutch Affiliate may have inside information and thus are prohibited from making a transaction in securities in the Netherlands at a time when they have such inside information. By
entering into this Agreement and participating in the Plan, the Participant acknowledges having read and understood the notification above and acknowledges that it is the Participant’s responsibility to comply with the Dutch insider trading
rules, as discussed herein. 
 Securities Disclaimer. The grant of the Option is exempt or excluded from the requirement to
publish a prospectus under the EU Prospectus Directive as implemented in the Netherlands. 
 SINGAPORE 

Notifications 
 Securities Law
Information. The grant of the Option is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of the Singapore Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”). The Plan has
not been lodged or registered as a prospectus with the Monetary Authority of Singapore. Participant should note that the Option is subject to section 257 of the SFA and Participant will not be able to make any subsequent sale in Singapore of
the Shares acquired through the exercise of the Option or any offer of such sale in Singapore unless such sale or offer is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA. 

Director Notification Obligation. If Participant is a director, associate director or shadow director of a Singapore Subsidiary,
Participant is subject to certain notification requirements under the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Subsidiary in writing when Participant receives an interest (e.g., Options
or Shares) in the Company or any Subsidiary. In addition, Participant must notify the Singapore Subsidiary when Participant sells Shares of the Company or any Subsidiary (including when Participant sells Shares acquired through the exercise of
Options). These notifications must be made within two business days of acquiring or disposing of any interest in the Company or any Subsidiary. In addition, a notification must be made of Participant’s interests in the Company or any
Subsidiary within two business days of becoming a director. 

  
 20 

 SPAIN 

Terms and Conditions 
 Nature of
Grant. This provision supplements Section 9 (Service Acknowledgments) of Exhibit A of the Agreement: 
 In accepting the Option,
Participant consents to participate in the Plan and acknowledges that he or she has received a copy of the Plan. 
 Participant understands that the Company
has unilaterally, gratuitously, and in its sole discretion decided to grant Options under the Plan to individuals who may be employees of the Company or one of its Subsidiaries or affiliates throughout the world. The decision is a limited
decision that is entered into upon the express assumption and condition that any grant will not bind the Company or any Subsidiary or affiliate, other than to the extent set forth in the Agreement. Consequently, Participant understands that the
grant of Options is made on the assumption and condition that the Options and any Shares acquired under the Plan are not part of any employment contract (either with the Company or any Subsidiary or affiliate), and shall not be considered a
mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. Further, Participant understands that the grant of the Options would not be made but for the assumptions and conditions referred to
above; thus, he or she acknowledges and freely accept that, should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of or right to the Options shall be null and void. 

Notifications 
 Tax Reporting Obligation for
Assets Held Abroad. Beginning January 2013, individuals in Spain are required to report assets and right located outside of Spain (which would include Shares or any funds held in a U.S. brokerage account) on Form 720 by
March 31st after each calendar year. A report is not required if the value of assets held outside of Spain is EUR 50,000 or less or if the assets held outside of Spain have not increased by more than EUR 20,000 compared to the previous
year (assuming that a prior report has been filed reporting these assets). Participant should consult Participant’s personal tax advisor for more information on how to complete the report and the specific information on what types of
assets are required to be reported. 
 Exchange Control Information. Participant must declare the acquisition of stock in a
foreign company (including Shares acquired under the Plan) to the Dirección General de Política Comercial e Inversiones Exteriores (“DGPCIE”) of the Ministerio de Economia for statistical purposes. He or
she must also declare ownership of any stock in a foreign company (including Shares acquired under the Plan) with the Directorate of Foreign Transactions each January while the stock is owned. In addition, if Participant wishes to import the
share certificates into Spain, he or she must declare the importation of such securities to the DGPCIE. 
 When receiving foreign currency payments derived
from the ownership of the shares (i.e., dividends or sale proceeds), Participant must inform the financial institution receiving the payment of the basis upon which such payment is made. Participant will need to provide the
following information: (i) 

  
 21 

 
his or her name, address, and fiscal identification number; (ii) the name and corporate domicile of the Company; (iii) the amount of the payment and the currency used; (iv) the country of
origin; (v) the reasons for the payment; and (vi) any further information that may be required. 
 Securities
Disclaimer. The grant of the Options is exempt or excluded from the requirement to publish a prospectus under the EU Prospectus Directive as implemented in Spain. 

UNITED KINGDOM 
 Terms and
Conditions 
 Tax Reporting and Payment Liability. The following provision supplements Exhibit A, Section
6(a) (Responsibility for Taxes) of the Agreement: 
 Participant agrees that the Company or the Employer may calculate the Tax-Related Items to be
withheld and accounted for by reference to the maximum applicable rates, without prejudice to any right participant may have to recover any overpayment from relevant U.K. tax authorities. If payment or withholding of any income tax liability arising
in connection with participant’s participation in the Plan is not made by participant to the Employer within ninety (90) days of the event giving rise to such income tax liability or such other period specified in Section 222(1)(c) of the U.K.
Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), Participant understands and agrees that the amount of any uncollected income tax will constitute a loan owed by participant to the Employer, effective on the Due
Date. Participant understands and agrees that the loan will bear interest at the then-current official rate of Her Majesty’s Revenue and Customs, it will be immediately due and repayable by participant, and the Company and/or the Employer
may recover it at any time thereafter by any of the means referred to in the Plan and/or this Agreement. Notwithstanding the foregoing, participant understands and agrees that if he or she is a director or an executive officer of the Company (within
the meaning of such terms for purposes of Section 13(k) of the Exchange Act), he or she will not be eligible for such a loan to cover the income tax liability. In the event that participant is a director or executive officer and the income tax
is not collected from or paid by participant by the Due Date, Participant understands that the amount of any uncollected income tax will constitute an additional benefit to participant on which additional income tax and National Insurance
Contributions will be payable. Participant understands and agrees that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to Her Majesty’s Revenue and Customs under the
self-assessment regime and for reimbursing the Company or the Employer (as appropriate) for the value of any primary and (to the extent legally possible) secondary class 1 national insurance contributions due on this additional benefit which the
Company or the Employer may recover from participant by any of the means referred to in the Plan and/or this Agreement. 
 Notwithstanding the foregoing, if
Participant is an executive officer or director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of the provision above will not apply. In the event that Participant is an executive
office or director and income tax is not collected from or paid by Participant by the Due Date, the amount of any uncollected income tax will constitute a benefit to Participant on which additional income tax and National Insurance Contributions
(“NICs”) (including Employer’s NICs, as defined below) may be 

  
 22 

 
payable. Participant understands that he or she will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime
and for reimbursing the Company and/or the Employer (as appropriate) for the value of any NICs due on this additional benefit. 
 Joint Election.

 Tax-Related Items, as defined in Exhibit A, Section 7 shall include Primary and to the extent legally possible Secondary Class 1 National
Insurance Contributions. 
 As a necessary condition of participation in the Plan, Participant agrees to accept any liability for all secondary Class 1 NICs
which may be payable by the Company and/or the Parent or Subsidiary employing or retaining Participant in connection with the Options and any event giving rise to Tax-Related Items (the “Employer’s NICs”). Without limitation to
the foregoing, Participant agrees to enter into a joint election with the Company (the “Joint Election”), the form of such Joint Election being formally approved by HMRC, and to execute any other consents or elections required to
accomplish the transfer of the entirety of Employer’s NICs to the employee. Participant further agrees to execute such other joint elections as may be required between Participant and any successor to the Company and/or the Parent or
Subsidiary employing or retaining Participant. Participant further agrees that the Company and/or the Parent or Subsidiary employing or retaining Participant may collect the Employer’s NICs from him or her by any of the means set forth in
Exhibit A, Section 6 of the Agreement. 
 If Participant does not enter into a Joint Election, if approval of the Joint Election has been withdrawn by HMRC
or if such Joint Election is jointly revoked by Participant and the Company or the Parent or Subsidiary employing or retaining Participant, as applicable, the Company, in its sole discretion and without any liability to the Company or the Parent or
Subsidiary employing or retaining Participant, may choose not to issue or deliver any Shares to the employee upon exercise of the Options. 
 (Joint
Election Form on the next page) 
 Notification 

Securities Disclaimer. Neither this Agreement nor Appendix is an approved prospectus for the purposes of section 85(1) of the
Financial Services and Markets Act 2000 (“FSMA”) and no offer of transferable securities to the public (for the purposes of section 102B of FSMA) is being made in connection with the Plan. The Plan and the Option are exclusively
available in the UK to bona fide employees and former employees and any other UK Subsidiary. 
 **** 

End of the Appendix 

  
 23 

 JOINT ELECTION FOR THE TRANSFER OF EMPLOYER’S NATIONAL INSURANCE CONTRIBUTIONS TO THE
EMPLOYEE 
 1. Between 
 The Company Twitter UK Ltd
(‘the Secondary Contributor’ who is the employer), whose Registered Office is at 100 NEW BRIDGE ST, LONDON, EC4V 6JA and registered number is 06492580, and  

                    , ‘the Employee’,
whose National Insurance number is                     . 

2. Purpose and scope of election 
 (a) This election
covers 
 (Delete as appropriate*) 
  

	 	•	 	grant of employment related securities options* 

  

	 	•	 	the award of employment related restricted securities and/ or* 

  

	 	•	 	the award of employment related convertible securities * 

 under [enter names of all Schemes/Plans/Individual
awards or grants that may be used] 
  

	 	•	 	Plan: Twitter, Inc. 2016 Equity Incentive Plan (as amended and restated from time to time)* 

  

	 	•	 	Individual awards or grants [Where no specific scheme or plan has been set-up such as the grant of EMI options] :
                                         
                                         
                          * 

(Delete as appropriate*) 
  

	 	•	 	on                                  
[DD/MM/YYYY]* or 

  

	 	•	 	between                          [DD/MM/YYYY]* and
                     [DD/MM/YYYY]* or 

  

	 	•	 	on or after                       [DD/MM/YYYY]* 

(b) This joint election is made in accordance with Paragraph 3B(1) of Schedule 1 of the Social Security Contributions and Benefits Act 1992 (‘SSCBA
1992’). 
 (c) The Company requests the Employee to enter into this joint election to transfer the liability for the secondary contributor’s
National Insurance contributions (NICs) that arise on any relevant employment income covered by this election from the secondary contributor to the Employee. 

(d) The employer’s National Insurance liability that shall transfer from the employer to the Employee under this joint election is 

(Delete as appropriate*) 

  
 24 

	 	•	 	the whole of the secondary liability or 

  

	 	•	 	[    %] of the secondary liability or 

  

	 	•	 	the secondary liability on gains in excess of [£                    ] 

Relevant employment income from securities and options specified in 2(a) on which employer’s NICs becomes due is defined as: 

i. an amount that counts as employment income of the earner under section 426 of ITEPA 2003 (restricted securities: charge on certain
post-acquisition events), 
 ii. an amount that counts as employment income of the earner under section 438 of that Act (convertible
securities: charge on certain post-acquisition events), or 
 iii. any gain that is treated as remuneration derived from the earner’s
employment by virtue of section 4(4)(a) SSCBA 1992. 
 (e) This joint election will not apply to the extent that it relates to relevant employment income
which is employment income of the earner by virtue of Chapter 3A of Part 7 of ITEPA 2003 (employment income: securities with artificially depressed market value). 

(f) This election does not apply in relation to any liability, or any part of any liability, arising as a result of regulations being given retrospective
effect by virtue of section 4B(2) of either the Social Security Contributions and Benefits Act 1992 or the Social Security Contributions and Benefits (Northern Ireland) Act 1992. 

3. Arrangements for payment of secondary NICs 
 (a) In
signing this joint-election the Employee authorises the Company, or other body (if applicable), to recover an amount sufficient to cover the liability for the employer’s NICs transferred under this election in accordance with the arrangements
summarised below [and further detailed in the attached scheme/plan/personal arrangement, [delete where necessary]]. 
  

	 	•	 	A deduction from salary or other payments due. 

  

	 	•	 	The delivery in cleared funds from the Employee in sufficient time to enable the Company to make payment to HM Revenue & Customs (HMRC). 

 

	 	•	 	The sale of sufficient shares acquired from the Employee’s securities option following notification to the Company Secretary/Scheme Administrator (delete as necessary or add other party if applicable), the proceeds
of which must be delivered to the Company in sufficient time for payment to be made to HMRC by the due date. 

  

	 	•	 	A deduction from any cash payment, treated as Relevant Employment Income, given to the Employee. 

  

	 	•	 	Where the proceeds of the gain are to be made through a third party, the Employee will authorise that party to withhold an amount from the payment or to sell shares sufficient to cover the secondary NICs transferred.
Such amount will be paid in sufficient time to enable the Company to make payment to HMRC by the due date. 

  
 25 

 (b) The Company and the Employee will ensure that payment of the liability for the secondary NICs will be made to
HMRC within 14 days following the end of the Income Tax month in which the relevant employment income arises – the due date. 
 The Employee
understands that in making this election they will be personally liable for the secondary NICs covered by this election. 
 4. Duration of this
election 
 (a) This joint election shall continue in force from the time it is made until whichever of the following first takes place: 

 

	 	•	 	The Company gives notice to the Employee terminating the joint election 

  

	 	•	 	it is cancelled jointly by the Company and the Employee 

  

	 	•	 	it ceases to have effect in accordance with the terms of the joint election 

  

	 	•	 	HMRC serves notice on the Company that the approval of the joint election has been withdrawn 

 (b) The terms of
this joint-election will continue in full force regardless of whether the Employee ceases to be an employee of the Company. 
 5. Declaration 

In signing this joint election both the Company and the Employee agree to be bound by its terms as stated above. 

 

							
	Signature of Employee	 	  
	 	Date	 	        /      /        
				
	Signature for the Company	 	  
	 	Date	 	        /      /        
				
	Position in Company	 	  
	 		 	

  
 26EX-4.3

 EXHIBIT 4.3 
  

			
	 DATED
	  	2015

  
  

 
  
  

 
  

RULES OF THE MAGIC PONY TECHNOLOGY LIMITED 

EMI SHARE OPTION SCHEME 

(APPROVED BY THE BOARD OF DIRECTORS ON AUGUST 27, 2015) 
  

 
  
  

 
  

 Index 
  

							
	Clause No.	  	Page No.	 
			
	 1.
	 	Interpretation and Construction	  	 	3	  
	 2.
	 	Statement of Purpose	  	 	7	  
	 3.
	 	Grant of Options	  	 	7	  
	 4.
	 	Notice of Grant	  	 	8	  
	 5.
	 	EMI Options: Limit for individual Eligible Employee	  	 	8	  
	 6.
	 	Overall limits for Company on the Grant of Options	  	 	9	  
	 7.
	 	Ordinary Share Capital	  	 	9	  
	 8.
	 	Non-Transferable	  	 	9	  
	 9.
	 	Rights to Exercise Options	  	 	9	  
	 10.
	 	Exercise of Options	  	 	10	  
	 11.
	 	Lapse of Options	  	 	12	  
	 12.
	 	Takeover, Reconstruction, Liquidation and Sale of the Business	  	 	13	  
	 13.
	 	Replacement Options	  	 	15	  
	 14.
	 	Loss of Office or Employment	  	 	17	  
	 15.
	 	Adjustments	  	 	17	  
	 16.
	 	General	  	 	18	  
	 17.
	 	Overseas Employees	  	 	20	  
	 18.
	 	Supplementary Provisions	  	 	20	  
	SCHEDULE 1	  	 	21	  
	SCHEDULE 2	  	 	24	  
	SCHEDULE 3	  	 	25	  

  
 2 

	1.	Interpretation and Construction 

  

	1.1	Definitions 

 In the Rules, unless the context requires otherwise, the following words
and expressions are defined or otherwise explained by the provisions indicated: 
  

			
	 “Acquiring Company”
	  	any company which has obtained Control of the Company in accordance with any of the provisions of Rule 12;
		
	 “Adoption Date”
	  	the date on which the Rules are adopted by the Directors;
		
	 “Bad Leaver”
	  	any director or employee of any Group Company who ceases to be a director or employee without becoming a director or employee of any other Group Company and is not a Good Leaver;
		
	 “Committed Time”
	  	the meaning given by paragraph 26 of Schedule 5;
		
	 “Companies Act”
	  	the Companies Act 2006;
		
	“Company”	  	Magic Pony Technology Limited (registered number 9356191) whose registered address is at 38 Gratton Road, Flat 2, London, United Kingdom, W14 0JX;
		
	 “Compromise”
	  	the meaning given by Rule 12.4;
		
	 “Control”
	  	shall mean the ability of a person to secure that the affairs of a company are conducted in accordance with the person’s wishes by the holding of shares or voting power in that or any other company (or as a result of any
powers in the articles of association or other document relating to that or any other company) (in accordance with section 995 Income Tax Act 2007);
		
	 “Date of Grant”
	  	the date on which an Option is granted to an Employee;
		
	 “Directors”
	  	the board of Directors of the Company or a duly authorised committee thereof;
		
	 “Disqualifying Event”
	  	the meaning given by Sections 534 to 536 of ITEPA;
		
	 “Eligible Employee”
	  	any person who is an employee of the Company or any Qualifying Subsidiary PROVIDED THAT where an Option is intended to be an EMI Option the employee is an individual;
		
		  	 (a)    whose Committed Time amounts to at least 25 hours a week, or if
less, 75% of his Working Time; and

		
		  	 (b)    who does not have a Material Interest in any Group
Company;

		
	 “EMI”
	  	Enterprise Management Incentive;

  
 3 

			
		
	“EMI Option”	  	any right to acquire Shares:
		
		  	 (c)    in relation to which the requirements of Schedule 5 are met at the
Date of Grant; and

		
		  	 (d)    of which Notice of Grant is given to HM Revenue & Customs in
accordance with paragraph 44 of Schedule 5;

		
		  	and, where the circumstances permit, a Replacement Option in relation to that EMI Option;
		
	“Employee”	  	any individual who is an employee of a Group Company;
		
	“Employer Company”	  	the company by reference to which the Option Holder is an Eligible Employee or Employee;
		
	“Employer’s NICs”	  	secondary Class 1 national insurance contributions;
		
	“Good Leaver”	  	any director or any employee of any Group Company who ceases to be a director or employee without becoming a director or employee of any other Group Company by reason of injury, disability, redundancy or early retirement with the
agreement of the Company or in any other circumstance where the Directors, in their discretion, determine the director or employee to be a Good Leaver;
		
	“Group” and “Group Company”	  	“Group”, in relation to a Parent Company, means that company and its Subsidiaries and “Group Company” shall be construed accordingly;
		
	“Independence Requirement”	  	the meaning given by paragraph 9 of Schedule 5;
		
	“ITEPA”	  	the Income Tax (Earnings and Pensions) Act 2003;
		
	“Market Value”	  	shall be determined in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992;
		
	“Material Interest”	  	the meaning given by paragraph 29 of Schedule 5;
		
	“Notice of Exercise”	  	a notice of exercise in accordance with the form set out in Schedule 2 of the Rules or such other form as may be prescribed or required by the Directors from time to time;
		
	“Notice of Grant”	  	the notice of grant of the EMI Option submitted by the Employer Company to HM Revenue & Customs in accordance with Rule 4.1;
		
	“Option”	  	a right to acquire Shares which shall include an EMI Option or an Unapproved Option;

  
 4 

			
	 “Option Agreement”
	  	an agreement between the Company and an Eligible Employee (or the Company and an Employee) which shall evidence the grant of the Option, which shall be in accordance with the Rules of the Scheme and which shall be in such form as
may be prescribed by the Directors;
		
	 “Option Holder”
	  	an Eligible Employee who has been granted an EMI Option or an Employee who has been granted an Unapproved Option (or his legal personal representatives where the circumstances permit);
		
	 “Option Price”
	  	the price per Share determined by the Directors which shall not be less than the Market Value of a Share on the Date of Grant (unless the Directors in their discretion decide otherwise) and, in the case of an Option which is a
right to subscribe for Shares, not less than the nominal value of a Share;
		
	 “Ordinary Share Capital”
	  	the meaning given by section 989 of the Income Tax Act 2007;
		
	 “Parent Company”
	  	a company that has one or more Subsidiaries;
		
	 “Personal Representatives”
	  	in relation to an Option Holder, the Option Holder’s legal personal representatives (being either the executors of his will to whom a valid grant of probate has been made or the duly appointed administrators of his estate)
who in either case have provided the Directors with satisfactory evidence of their appointment;
		
	 “Qualifying Exchange”
	  	an exchange of Shares in accordance with Rule 13.3;
		
	 “Qualifying Subsidiary”
	  	the meaning given by paragraph 11 of Schedule 5 to ITEPA;
		
	 “Relevant Company”
	  	the company (being either the Company or any Group Company) which incurs a Tax Liability as set out in Rule 10.4;
		
	 “Replacement Option”
	  	an Option granted in accordance with Rule 13;
		
	 “Restrictions”
	  	any condition attaching to the Shares which makes the interest in the Shares restricted within the meaning of Chapter 2 of Part VII of ITEPA;
		
	 “Rules”
	  	these rules together with any schedules or appendices to these rules;
		
	 “Sale of the Business”
	  	any transfer (whether through a single transaction or a series of transactions) of all or substantially all of the assets or undertaking of the Group (including goodwill) to any person (or persons connected with each other or act
in concert with each other);
		
	 “Schedule 5”
	  	Schedule 5 to ITEPA;
		
	 “Scheme”
	  	this scheme as governed by the Rules;

  
 5 

			
	 “Section 431 Election”
	  	means an election in accordance with Section 431 of ITEPA being in the form as set out in Schedule 3 to this Scheme or in such other form as HM Revenue & Customs may determine from time to time;
		
	 “Share”
	  	Ordinary Shares in the capital of the Company (and in the context of an EMI Option, which satisfies the requirements of paragraph 35 of Schedule 5);
		
	 “Subsidiary”
	  	means any body corporate which is a subsidiary of the Company within the meaning of section 1159 of the Companies Act 2006;
		
	 “Tax Liability”
	  	a liability to account for any employee’s tax, national insurance, social security or other levies in respect of the Option (whether by reason of grant, exercise, or otherwise or by reason of a Disqualifying Event in
relation to EMI Options only), including for the avoidance of doubt and without limitation any liability arising after the termination of the Option Holder’s employment for whatever reason and which:
		
		  	 (e)    may arise or be incurred in any jurisdiction whatsoever
and,

		
		  	 (f)     by the law of the same jurisdiction may or shall be recovered
from the person entitled to the Option;

		
	 “Trading Activities Requirement”
	  	the meaning given by paragraph 13 to 14 of Schedule 5;
		
	 “Unapproved Options”
	  	any right to acquire Shares granted pursuant to this Scheme which does not satisfy the requirements of Schedule 5;
		
	 “Unvested”
	  	such number or the proportion of the Shares subject to an Option that are not Vested;
		
	 “Vested”
	  	such number or the proportion of the Shares subject to an Option that shall become vested according to the Vesting Schedule and “Vest” shall be construed accordingly;
		
	 “Vesting Schedule”
	  	the schedule set out in any Option Holder’s Option Agreement;
		
	 “Working Time”
	  	the meaning given by paragraph 27 of Schedule 5; and
		
	 “Working Time Declaration”
	  	means a written declaration made and signed by the Option Holder within the Option Agreement in accordance with paragraph 44(6) of Schedule 5 that he satisfies the Committed Time requirement.

  
 6 

	1.2	Construction 

 Words or expressions used herein shall where appropriate: 

 

	 	(a)	when denoting the masculine gender include the feminine and vice-versa; 

  

	 	(b)	when denoting the singular include the plural and vice versa; 

  

	 	(c)	when referring to any enactment be construed as a reference to that enactment as for the time being consolidated, amended, re-enacted or replaced and shall include any regulations made thereunder; 

 

	 	(d)	when a period of time is specified and starts from a given day or the day of an act or event, be calculated exclusive of that day; and 

 

	 	(e)	be construed such that the headings and sub-headings are for ease of reference only, and do not affect the interpretation of any Rule; 

 

	 	(f)	be construed where not otherwise defined in the Rules to have the same meanings as in Schedule 5. 

  

	2.	Statement of Purpose 

 EMI Options granted at any time pursuant to the Rules are granted
for commercial reasons in order to recruit or retain an Eligible Employee and not as part of a scheme or arrangement the main purpose, or one of the main purposes, of which is the avoidance of tax. 

 

	3.	Grant of Options 

  

	3.1	General 

  

	 	(a)	Subject to the Rules, the Company may, at any time, grant 

  

	 	(i)	any Eligible Employee an EMI Option; or 

  

	 	(ii)	any Employee an Unapproved Option 

 over such number of Shares at such Option Price and with
such conditions of exercise as the Company may determine. 
  

	 	(b)	An EMI Option shall be granted in accordance with the provisions of Schedule 5. 

  

	 	(c)	EMI Options shall only be granted to individuals who are Eligible Employees. 

  

	 	(d)	Unapproved Options shall only be granted to individuals who are Employees. 

  

	 	(e)	An Option shall not be granted by any person other than the Company without the prior approval of the Directors. 

  

	3.2	Contents of Option Agreement 

 The Option shall be agreed in writing between the Company
and the Option Holder, and shall state: 

  
 7 

	 	(a)	the Date of Grant; 

  

	 	(b)	that the EMI Option is granted under the provisions of Schedule 5; 

  

	 	(c)	the number or maximum number of Shares over which the Option is granted; 

  

	 	(d)	the Option Price, or the method by which the Option Price is to be determined; 

  

	 	(e)	the Vesting Schedule; 

  

	 	(f)	details of any Restrictions attaching to the Shares and, if so, shall contain details of such Restrictions; and 

  

	 	(g)	shall include the Working Time Declaration. 

  

	3.3	The Option Agreement for an Unapproved Option shall be in the same form as Rule 3.2 apart from Rule 3.2(b), (f) and (g) which shall not apply. 

 

	4.	Notice of Grant 

  

	4.1	On the grant of an EMI Option, a Notice of Grant shall be given by the Employer Company to HM Revenue & Customs within 92 days of the Date of Grant (or such further or other period as HM Revenue & Customs or
statute may allow, permit or require) and shall: 

  

	 	(a)	be in such form and using such method as required by HM Revenue & Customs from time to time; 

  

	 	(b)	contain a declaration by a director or the secretary of the Employer Company that: 

  

	 	(i)	in his opinion the requirements of Schedule 5 are met; 

  

	 	(ii)	the information provided is to the best of his knowledge correct and complete; and 

  

	 	(iii)	the Option Holder has made and signed a Working Time Declaration and that the Working Time Declaration is held by the Employer Company; 

 

	 	(c)	contain any other information that HMRC may require from time to time. 

  

	4.2	On the grant of an Unapproved Option a Notice of Grant shall not be required. 

  

	5.	EMI Options: Limit for individual Eligible Employee 

  

	5.1	The number of Shares over which an EMI Option may be granted to any one Eligible Employee shall be limited and take effect so that the total value of Shares (as determined by paragraphs 5(6) to (8) of Schedule 5)
subject to unexercised EMI Options granted to that Eligible Employee by the Company or any other Group Company does not exceed £250,000 (or such other limit as may apply from time to time in paragraph 5 of Schedule 5), SAVE WHERE an EMI Option
is granted under the provisions of Part 6 (Company Reorganisation) of Schedule 5. 

  
 8 

	5.2	Provided that if an EMI Option exceeds the limit in Rule 5.1 the Option shall be treated as two Options, one shall be an EMI Option as to the number of Shares within the limit in Rule 5.1 and the other Option shall be
an Unapproved Option. 

  

	6.	Overall limits for Company on the Grant of Options 

  

	6.1	Subject to such adjustments as may be made in accordance with Rule 15, no Option shall be granted on any Date of Grant if as a result the total value of Shares of the Company (as determined by paragraphs 5(6) to (8) of
Schedule 5) in respect of which unexercised EMI Options exist would exceed £3 million or such other limit as may apply from time to time in paragraph 7 of Schedule 5. 

 

	6.2	For the purpose of the limit contained in Rule 6.1 above, any Option or right which has been released, cancelled or lapsed without being exercised shall be ignored. 

 

	6.3	If following the purported grant of an EMI Option the limit in Rule 6.1 would be exceeded such an Option shall not be an EMI Option insofar as it relates to the excess and the excess shall be treated as an Unapproved
Option. 

  

	7.	Ordinary Share Capital 

  

	7.1	Availability of Shares 

 The Company shall at all times keep available Shares to satisfy
the exercise to the full extent still possible of all Options which have neither lapsed nor been fully exercised taking account of any other obligations of the Company to provide shares of the same class as Shares. 

 

	8.	Non-Transferable 

 Save as provided in Rule 9.4, no Option nor any right thereunder shall
be capable of being transferred, assigned or charged in any manner whatsoever. Upon any such purported transfer, assignment, or charge the Option shall immediately lapse and cease to be exercisable. 

 

	9.	Rights to Exercise Options 

  

	9.1	General 

 Subject to rules 9.2, 9.3, 9.4 and 12 below an Option: 

 

	 	(a)	shall not be exercisable before it has Vested in accordance with the Vesting Schedule set out in the relevant Option Holder’s Option Agreement; and 

 

	 	(b)	an Option may thereafter be exercised in whole or in part at any time, subject to the provisions of the Option Agreement; 

  

	 	(c)	shall not be exercised later than the day before the tenth anniversary of the Date of Grant. 

  

	9.2	Termination of Employment – Bad Leaver 

  

	 	(a)	If the Option Holder is a Bad Leaver, the Option, whether Vested and unexercised or Unvested shall lapse immediately on the date upon which the Option Holder ceases to hold employment or office within the Group, or in
the case of gross misconduct, on the date of occurrence of such misconduct. 

  
 9 

	9.3	Termination of Employment - Good Leaver 

 If the Option Holder is a Good Leaver: 

 

	 	(a)	the Option shall be exercisable to the extent Vested as at the date of ceasing employment within 90 days of ceasing employment (or within any longer time period as referred to in section 532(1)(b) ITEPA);

  

	 	(b)	the Option to the extent Unvested shall lapse immediately on the date upon which the Option Holder ceases employment, unless the Directors in their discretion determine before cessation that any Unvested part of the
Option may be exercised within 90 days of ceasing employment (or within any longer time period as referred to in section 532(1)(b) ITEPA). 

  

	9.4	Death of the Option Holder 

 If an Option Holder dies, the Option shall be exercisable in
full regardless of whether it has Vested by the Personal Representatives, provided that the Option shall only be exercisable within 12 months of the Option Holder’s death. 

 

	10.	Exercise of Options 

  

	10.1	Procedure on exercise 

 An Option shall be exercisable, in whole or in part, by the
delivery to the secretary of the Company of the following: 
  

	 	(a)	an Option Agreement covering all of the Shares over which the Option is then to be exercised; 

  

	 	(b)	the Notice of Exercise in the prescribed form duly completed and signed by the Option Holder (or by his duly authorised agent); 

  

	 	(c)	a Section 431 Election (or a similar election should the Directors so require); 

  

	 	(d)	payment (or such arrangements for the making of such a payment as the Directors shall permit) of a sum equal to the aggregate Option Price for the number of Shares over which the Option is to be
exercised;

  

	 	(e)	payment (or such arrangements for the making of such a payment as the Directors shall permit) of any Tax Liability and Employer’s NICs in accordance with Rule 10.4; and 

 

	 	(f)	if and to the extent that existing shareholders in the Company are subject to Restrictions on the exercise of any rights attaching to their Shares in the Company as embodied in any shareholders’ agreement or other
such document, is accompanied by a deed of adherence in a form acceptable to the Company and executed by the Option Holder whereby the Option Holder agrees to be bound by the terms of such shareholders’ agreement or other such document.

  
 10 

	10.2	Issue or transfer of Shares 

 The Company shall issue or procure the transfer of Shares
to be allotted or transferred pursuant to the exercise of an Option to the Option Holder such number of Shares within 30 days following the effective date of exercise of the Option. 

 

	10.3	Shares issued pursuant to the Scheme will rank pari passu in all respects with the Shares then already in issue except that they and any Shares transferred pursuant to the Scheme will not rank for any dividend or other
distribution of the Company paid or made by reference to a record date falling prior to the date of receipt of the Notice of Exercise of the Option pursuant to Rule 10.1. 

 

	10.4	Deductions 

  

	 	(a)	Where in relation to Options, the Company or any Group Company (“the Relevant Company”) is liable, or is in accordance with current practice believed to be liable under any statute or regulation or otherwise,
to account to any revenue or other authority for sums in respect of a Tax Liability in relation to the Option, the Option Holder shall indemnify and shall keep indemnified the Relevant Company for the Tax Liability and the Option Holder shall pay
the Relevant Company a sum equal to the Tax Liability immediately upon written notice of the quantum of the said liability. 

  

	 	(b)	Notwithstanding the above, the Company may impose such conditions upon the exercise of the Options as are necessary to ensure that the Relevant Company is able to meet any or all of such liabilities, including, without
limitation, a condition that no exercise may take place unless the Option Holder has provided the Relevant Company with cash funds sufficient to meet such Tax Liability, or has entered into arrangements acceptable to the Relevant Company to secure
that such cash funds are available, or to allow the Relevant Company to deduct the amount of such Tax Liability from any cash amounts (including salary and bonuses) which may become payable to the Option Holder by any Group Company.

  

	 	(c)	The Company may require the Option Holder as a condition of the exercise of any Option that the Option Holder shall: 

  

	 	(i)	agree to reimburse the Relevant Company for any Employer’s NICs arising on the exercise of an Option; or 

  

	 	(ii)	enter into an election with the Relevant Company to assume the liability for any Employer’s NICs, payable on the exercise of the Option, including an election under paragraph 3B of Schedule 1 to the Social Security
Contributions and Benefits Act 1992; OR 

  

	 	(iii)	agree to pay the employer’s social security contributions, to the extent permitted by law, in any other jurisdiction. 

  

	 	(d)	If the Option Holder shall fail to: 

  

	 	(i)	make payment to the Relevant Company immediately upon receipt of a written notice in accordance with Rule 10.4(a); or 

  

	 	(ii)	reimburse the Relevant Company in accordance with an agreement or election in whole or in part for any liability to Employer’s NIC or employer’s social security contributions pursuant to Rule 10.4(c);

  
 11 

 then the Company shall be authorised by the Option Holder to reduce the number of Shares
otherwise deliverable to the Option Holder upon the exercise of an Option as may be sufficient to produce a sum which (after allowance for the costs and expenses of such a sale) may discharge (and shall be applied in discharge of) the Option
Holder’s liability to the Relevant Company under Rule 10.4(a) or any agreement or election pursuant to Rule 10.4(c) and the Company may exercise all such powers and may appoint any of its officers to sign all such documents in the name of the
Option Holder and as his act and deed as may be necessary for this purpose. 
  

	 	(e)	If the Option Holder shall fail to make payment to the Relevant Company immediately upon receipt of a written notice in accordance with Rule 10.4(a) then the Option Holder shall be liable to make good any amount
outstanding on demand. 

  

	11.	Lapse of Options 

  

	11.1	General 

 An Option shall immediately cease to be exercisable and shall lapse on the
earliest of: 
  

	 	(a)	the tenth anniversary of the Date of Grant; 

  

	 	(b)	the date upon which the Option Holder ceases to hold employment or office within the Group if the Option Holder is a Bad Leaver; 

  

	 	(c)	the expiry of the periods in Rule 9.3, except that if the Option Holder dies during the exercise period specified in Rule 9.3, an Option shall not lapse by reason of this Rule 11.1 until the first anniversary of the
Option Holder’s death, if later; 

  

	 	(d)	the first anniversary of the Option Holder’s death; 

  

	 	(e)	subject to Rule 13.1, the expiry of any of the periods referred to in Rule 12; 

  

	 	(f)	the date on which it is purported to be transferred or assigned (other than by reason of death in accordance with Rule 9.4), mortgaged, charged or otherwise disposed of by the Option Holder; 

 

	 	(g)	the presentation of any petition to any court of competent jurisdiction by which an order is sought for the bankruptcy of the Option Holder; 

 

	 	(h)	upon the Option Holder making an application for an interim order or any proposal for a voluntary arrangement within Part VIII of the Insolvency Act 1986; 

 

	 	(i)	upon the Option Holder proposing any form of compromise with his creditors or any class of creditors; and 

  

	 	(j)	the date on which the Option Holder is deprived (otherwise than on death) of the legal or beneficial ownership of the Option by operation of law or by the Option Holder doing or omitting to do anything which causes him
to be so deprived. 

  
 12 

	12.	Takeover, Reconstruction, Liquidation and Sale of the Business 

  

	12.1	Offer 

 If any person obtains Control of the Company as a result of: 

 

	 	(a)	making an offer to acquire the whole of the issued share capital of the Company which is made on a condition such that, if it is satisfied, the person making the offer will have Control of the Company; or

  

	 	(b)	making a general offer to acquire all the shares in the Company which are of the same class as those to which the Option relates; 

  

	 	(c)	negotiating a share sale and purchase agreement with the shareholders of the Company which contemplates that the person will acquire the whole of the issued share capital of the Company on completion; 

(“an Offer”), an Option may be exercised to the extent Vested in accordance with the provisions of Rule 12.2. 

 

	12.2	

  

	 	(a)	if the Directors (acting on behalf of the Company) notify the Option Holder in writing as soon as practicable of the fact that such person has made an Offer under Rule 12.1 (the “Notification”) which may
result in that person obtaining Control of the Company (and for the purposes of this Rule 12.2 the time that Control is obtained shall be referred to as the “Unconditional Time”), the Option Holder may deliver his Notice of Exercise and
the aggregate Option Price (under the procedure in Rule 10.1) at any time in the period commencing on the Option Holder’s receipt of the Notification and ending immediately before the Unconditional Time. Any Notice of Exercise delivered in
accordance with this Rule 12.2(a) shall be exercised immediately before the Unconditional Time. The Option shall not be exercisable following the Unconditional Time but may still be released under Rule 13 within the period of six months following
the change of Control of the Company and on the expiry of the said six month period the Option shall lapse; or 

  

	 	(b)	in the event that no Notification is made (as permitted by Rule 12.2(a)), the Option may be exercised within 90 days (or within any longer time period as referred to in section 532(1)(b) ITEPA) of such change of
Control. The Option shall not be exercisable after 90 days (or within any longer time period as referred to in section 532(1)(b) ITEPA) from the date of the change of Control but may still be released under Rule 13 within the period of six months
following the change of Control of the Company and on the expiry of the said six month period the Option shall lapse. 

  

	 	(c)	For the avoidance of doubt, where a Notification is made in Rule 12.2(a) and the Directors become aware that the proposed Offer will not proceed, the Directors shall return the Notice of Exercise and the aggregate
Option Price to the Option Holder, and no exercise of the Option shall be treated as having occurred in relation to such offer under this Rule 12.2.

  

	12.3	Control 

 For the purposes of Rule 12.1 a person shall be deemed to have obtained Control
of the Company if he and others acting in concert with him have together obtained Control of it. 

  
 13 

	12.4	Scheme of arrangement  

 If any person obtains Control of the Company in pursuance of a
compromise or arrangement sanctioned by the court under section 899 of the Companies Act (“a Compromise”), an Option may be exercised to the extent Vested within 90 days (or within any longer time period as referred to in section 532(1)(b)
ITEPA) of the court sanctioning the Compromise. An Option shall not be exercisable after the said 90 days (or longer time period as referred to in section 532(1)(b) ITEPA) but may still be released under Rule 13 within the period of six months
following the court sanction of the Compromise and, on the expiry of the said six month period, the Option shall lapse. 
  

	12.5	Chapter 3, Part 28 of the Companies Act – Squeeze out provisions 

 If any person
becomes bound or entitled to acquire shares under Chapter 3, Part 28 of the Companies Act, an Option may be exercised to the extent Vested at any time when that person remains so bound or entitled. 

 

	12.6	Liquidation 

 If a general meeting of the Company is called at which it is proposed to
pass a resolution for the members’ voluntary winding up of the Company, the Company shall notify the Option Holder as soon as practicable of this fact. The Option may be exercised to the extent Vested during the period of such notice (such
exercise being conditional on such resolution being passed and taking effect immediately thereafter) and such portion of the Option not otherwise exercised before such resolution has been passed shall thereupon lapse. Where the Option Holder
has exercised the Option pursuant to this Rule 12.6 and the resolution referred to above has been passed then (subject to the consent of the Company’s liquidator where such is required by section 88 of the Insolvency Act 1986) the exercise of
the Option shall take effect immediately and the Option Holder shall be entitled to share in the assets of the Company with the existing shareholders in the same manner as the Option Holder would have been entitled had the Option Holder been the
registered owner of the relevant Shares before the resolution was passed. For the avoidance of doubt, this Rule 12.6 will not apply to a creditors’ voluntary winding up. 

 

	12.7	Reorganisation 

 An Option may not be exercised under rule 12.1 if the Offer is part of a
reorganisation so that the shareholders of the Acquiring Company hold their shares in the Acquiring Company in the same proportions as they held their shares in the Company. 
  

	12.8	Sale of Business 

 An Option may be exercised to the extent Vested within 90 days (or
within any longer time period as referred to in section 532(1)(b) ITEPA) of a Sale of the Business and the Company shall notify the Option Holder as soon as practicable of this fact. 

 

	12.9	Admission to listing 

 If the Company’s shares are admitted to listing on the Main
Market of the London Stock Exchange, AIM or to any recognised investment exchange (as defined in section 285 of the Financial Services and Markets Act 2000), the Option shall continue to vest in accordance with the Vesting Schedule and the Option
may be exercised to the extent Vested during such periods as the Directors shall determine in their discretion. 

  
 14 

	13.	Replacement Options 

  

	13.1	Grant of Replacement Options 

 If any company (“the Acquiring Company”): 

 

	 	(a)	obtains Control of the Company as a result of making an Offer in accordance with Rule 12.1(a) or (b); or 

  

	 	(b)	obtains Control of the Company as a result of a Compromise in accordance with Rule 12.4; or 

  

	 	(c)	becomes bound or entitled to acquire the Shares under Chapter 3, Part 28 of the Companies Act in accordance with Rule 12.5, or 

  

	 	(d)	obtains all the Shares as a result of a Qualifying Exchange within Rule 13.3, 

 an Option Holder
may at any time within the period set out in Rule 13.2, by agreement with the Acquiring Company, release any Option which has not lapsed (“the Old Option”) in consideration of the grant to him of an Option (“the New Option”)
which is equivalent to the Old Option but relates to shares in the Acquiring Company and qualifies as a Replacement Option as set out in rules 13.4 and 13.5. 
  

	13.2	Period within which Replacement Option to be granted 

 The New Option must be granted
within the following periods: 
  

	 	(a)	if the change of Control is by reason of a general offer in accordance with Rule 12.1, the period of six months beginning with the time when the person making the offer has obtained control of the Company and any
condition subject to which the offer is made is satisfied; 

  

	 	(b)	if the change of Control is by reason of a Compromise (in accordance with Rule 12.4) or a Qualifying Exchange the period of six months beginning with the time when the Acquiring Company obtains Control of the Company
whose shares are subject to the Old Option; 

  

	 	(c)	if the change of Control occurs under Chapter 3, Part 28 of the Companies Act, the period during which the Acquiring Company remains bound or entitled in accordance with those procedures. 

 

	13.3	Exchange of Shares 

  

	 	(a)	An exchange of shares will be treated as a Qualifying Exchange where arrangements are made in accordance with which a company (“the New Company”) acquires all the shares (“Old Shares”) in another
company (“the Old Company”) and the following conditions are met: 

  

	 	(i)	that the consideration for the Old Shares consists wholly of the issue of shares (“New Shares”) in the New Company; 

  

	 	(ii)	that New Shares are issued in consideration of Old Shares only at times when there are no issued shares in the New Company other than: 

 

	 	(A)	subscriber shares, and 

  

	 	(B)	New Shares previously issued in consideration of Old Shares; 

  
 15 

	 	(iii)	that the consideration for New Shares of each description consists wholly of Old Shares of the corresponding description; 

  

	 	(iv)	that New Shares of each description are issued to the holders of Old Shares of the corresponding description in respect of, and in proportion to, their holdings; and 

 

	 	(v)	that by virtue of section 127 of the Taxation of Chargeable Gains Act 1992 as applied by section 135(3) of that Act, the exchange of shares is not treated as involving a disposal of the Old Shares or an acquisition of
the New Shares. 

  

	 	(b)	For the purposes of this rule Old Shares and New Shares are of a corresponding description if, on the assumption that they were shares in the same company, they would be of the same class and carry the same rights, and
references to “shares”, except in the expression “subscriber shares”, includes securities. 

  

	13.4	Qualifying requirements for Replacement Option 

 Subject to Rule 13.5, a New Option
qualifies as a Replacement Option only if: 
  

	 	(a)	the New Option is granted to the Option Holder by reason of his employment: 

  

	 	(i)	with the Acquiring Company, or 

  

	 	(ii)	if that company is a Parent Company, with that company or another Group Company; 

  

	 	(b)	at the time of the release of rights under the Old Option, the purpose for granting the New Option is for commercial reasons in order to recruit or retain an Eligible Employee, and not as part of a scheme or arrangement
the main purpose, or one of the main purposes, of which is the avoidance of tax; 

  

	 	(c)	at that time, 

  

	 	(i)	the Independence Requirement and the Trading Activities Requirement are met in relation to the Acquiring Company; 

  

	 	(ii)	the individual to whom the New Option is granted is an Eligible Employee in relation to the Acquiring Company; and 

  

	 	(iii)	the New Option would satisfy the requirements of being an EMI Option set out in Part V of Schedule 5; 

  

	 	(d)	the total Market Value, immediately before the release, of the Shares which were subject to the Old Option is equal to the total Market Value, immediately after the grant, of the Shares in respect of which the New
Option is granted; and 

  

	 	(e)	the total amount payable by the employee for the acquisition of shares in pursuance of the New Option is equal to the total amount that would have been payable for the acquisition of shares in pursuance of the Old
Option. 

  

	13.5	Provided that a Replacement Option for an Unapproved Option shall not have to satisfy the requirements in Rule 13.4(b) and Rule 13.4(c). 

  
 16 

	13.6	Where, in accordance with this Rule 13, an Option is released and a New Option granted, the New Option shall not be exercisable in accordance with Rule 12 by virtue of the event which gave rise to the New Option being
granted. 

  

	14.	Loss of Office or Employment 

  

	14.1	The grant of an Option does not form part of the Option Holder’s entitlement to remuneration or benefits pursuant to his contract of employment nor does the existence of a contract of employment between an Eligible
Employee and any company give such Eligible Employee any right or entitlement to have an Option granted to him in respect of any number of Shares or any expectation that an Option might be granted to him whether subject to any conditions or at all
and the grant of an Option shall not give him any entitlement or expectation that further Options will be granted. 

  

	14.2	The rights and obligations of an Option Holder under the terms and conditions of his office or employment shall not be affected by his participation under the Rules or any right he may have to participate.

  

	14.3	An individual who participates under the Rules waives all and any rights to compensation or damages in consequence of the termination of his office or employment with any company for any reason whatsoever, whether
lawful or not, in so far as those rights arise, or may arise, from his ceasing to have rights under or be entitled to exercise any Option under the Rules as a result of such termination or from the loss or diminution of value of such rights or
entitlements. If necessary, the Option Holder’s terms of employment shall be varied accordingly. 

  

	15.	Adjustments 

  

	15.1	General rule 

 The number of Shares over which an Option is granted and the Option Price
thereof shall be adjusted in such manner as the Directors shall determine following any capitalisation issue, rights issue, subdivision, consolidation or reduction of share capital of the Company or any other variation of share capital to the intent
that (as nearly as may be) the total Option Price multiplied by the number of Shares that is payable in respect of an Option shall remain unchanged. 
  

	15.2	Reduction of Option Price to below nominal value 

 Subject to Rule 15.3 below, an
adjustment may be made under Rule 15.1 above which would have the effect of reducing the Option Price of unissued shares to less than the nominal value of a Share, but only if, and to the extent that, the Directors shall be authorised to capitalise
from the reserves of the Company a sum equal to the amount by which the aggregate nominal value of the Shares in respect of which the Option is exercisable exceeds the aggregate adjusted Option Price, so that on exercise of any Option in respect of
which the Option Price has been reduced, the Directors shall capitalise and apply such sum (if any) as is necessary to pay up the amount by which the aggregate nominal value of the Shares in respect of which the Option is exercised exceeds the
aggregate Option Price for such Shares. 
  

	15.3	Option over issued and unissued Shares 

 Where an Option subsists over both issued and
unissued Shares, an adjustment permitted by Rule 15.2 above, may only be made if the reduction of the Option Price of both issued and unissued Shares can be made to the same extent. 

  
 17 

	15.4	Administrative steps 

 The Directors shall notify Option Holders of any adjustment made
under this Rule 15 as soon as reasonably practicable and may take such steps and the Company shall execute such documents as it considers necessary to give effect to such adjustment. Furthermore, and without limitation to the generality of the
foregoing, the Directors may call in, cancel, endorse, issue or reissue any Option Agreement subsequent upon such adjustment. 
  

	16.	General 

  

	16.1	Amendments 

  

	 	(a)	Subject to rules 16.1(b) to (d), the Directors shall have the discretion to: 

  

	 	(i)	amend or add to the Rules; and 

  

	 	(ii)	impose additional conditions or requirements on the Options or on the terms on which Shares are acquired. 

  

	 	(b)	No amendments may be made to the Rules which would have the effect of causing EMI Options to cease to be EMI Options. 

  

	 	(c)	The Directors may at any time make such alterations (including additions) to the Rules as are necessary to secure that the Rules as applicable to EMI Options are in accordance with Schedule 5 and continue to be in
accordance with Schedule 5. 

  

	 	(d)	No amendment or addition shall be made to the Rules which would abrogate or adversely affect the subsisting rights of Option Holders unless: 

 

	 	(i)	where the rights are enjoyed by a single Option Holder and are not enjoyed by any other Option Holder or class of Option Holders, it is made with the written consent of that Option Holder; or 

 

	 	(ii)	where the rights are enjoyed by all Option Holders or any class of Option Holders then: 

  

	 	(A)	with the consent in writing of such number of Option Holders or class of Option Holders (as the case may be) as hold Options under the Scheme to acquire 75 per cent (75%) of the Shares which would be issued or
transferred if all Options granted and subsisting under the Scheme were exercised; or 

  

	 	(B)	by a resolution at a meeting of Option Holders or class of Option Holders passed by not less than 75 per cent (75%) of the Option Holders who attend and vote either in person or by proxy; 

and for the purpose of this Rule 16.1(d) the Option Holders or any class of Option Holders shall be treated as the holders of a separate class
of share capital and the provisions of the Articles of Association of the Company relating to class meetings shall apply mutatis mutandis. 

  
 18 

	16.2	Termination 

 The Scheme shall terminate upon the tenth anniversary of the Adoption Date
or at any earlier time by the passing of a resolution by the Directors. Termination shall be without prejudice to the subsisting rights of Option Holders. 
  

	16.3	Conflict with Schedule 5 

 If there is any conflict between the provisions of the Rules
as they apply to EMI Options and Schedule 5, Schedule 5 shall take precedence in respect of EMI Options. 
  

	16.4	Notices and documents 

  

	 	(a)	Option Holders not otherwise entitled thereto may at the discretion of the Company be sent copies of notices and other documents sent by the Company to its ordinary shareholders generally. 

 

	 	(b)	Written notice of any amendment made in accordance with this Rule 16 shall be given to those Option Holders affected by such amendment. 

 

	 	(c)	Any notice or other document required to be given hereunder to any Option Holder shall be delivered to him or sent by first class pre-paid post to him at his home address according to the records of the Company or such
other address as may appear to the Directors to be appropriate. Any notice or other document required to be given to the Directors shall be delivered to the Directors or sent by first class pre-paid post to the Directors at the Company’s
registered office or such other address as may be determined by the Directors to be appropriate. Notices sent by post to an Option Holder shall be deemed to have been given on the fifth day following the date of posting. 

 

	16.5	Disputes 

 The decision of the Directors in any dispute or question relating to any
Option shall be final and conclusive subject to the terms of this Scheme. 
  

	16.6	Governing Law 

 The Rules shall be governed by and construed in accordance with English
law. 
  

	16.7	Contracts (Rights of Third Parties) Act 1999 

 Except as expressly provided by the
Company, a person who is not the Option Holder or a company who is not a member of the Group has no right under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce any provisions of this Scheme, but this does not affect any
right or remedy of a third party which exists or is available apart from that Act. The Option Holder may not declare himself a trustee of his rights under this Scheme for the benefit of any third parties. 

 

	16.8	Data Protection 

 The Company and the Employer Company (if different) from time to time
will collect, hold and process the Option Holder’s personal information for the purposes of the administration of this Option. The Company will not use such personal information for any purpose other than the administration of the Option,
unless the Option Holder’s consent to that use is obtained.

  
 19 

	17.	Overseas Employees 

 Notwithstanding any other provision of the Scheme the Directors may
amend or add to the provisions of the Scheme and the terms of Option Agreements they consider necessary or desirable to take account of, or to mitigate, or to comply with relevant overseas taxation, securities or exchange control laws, provided that
the terms of Options granted to such Employees are not more favourable overall than the terms of Awards granted to other Employees. 
  

	18.	Supplementary Provisions 

 The Group shall not be liable to the Option Holder for any tax
or additional tax or national insurance payable by the Option Holder upon the exercise of an Option or upon the subsequent disposal of any Shares acquired upon exercise of the Option being tax or national insurance payable because of a failure to
qualify for relief under sections 529 to 532 of ITEPA in consequence of anything done by the Group. 

  
 20 

 SCHEDULE 1 

OPTION AGREEMENT 
  

	
	THIS DOCUMENT IS IMPORTANT AND SHOULD BE KEPT IN A SAFE PLACE

 THIS OPTION AGREEMENT is made the [●] day of [●] 20 

BETWEEN 
  

	(1)	MAGIC PONY TECHNOLOGY LIMITED (registered no 09356191) whose registered office is at 38 Gratton Road, Flat 2, London, United Kingdom, W14 0JX (the “Company”); and 

 

	(2)	[Name] of [Address] (the “Option Holder”) 

 SUPPLEMENTAL to
the rules of the Magic Pony Technology Limited EMI Share Option Scheme (the “Scheme”). Any words or expressions used in this option agreement and defined by the Scheme shall bear the same meaning in this agreement. 

INTRODUCTION: 
  

	(A)	The Company intends to grant an Option to the Option Holder. 

  

	(B)	The Option is intended to be an [EMI option/unapproved option]. 

  

	(C)	[The Option is granted under Schedule 5 ITEPA 2003.] 

 AGREED TERMS 

 

	1.	Grant 

 The Company GRANTS an [EMI option/unapproved option] to the Option Holder
and the Option Holder AGREES to be bound in all respects by the provisions of the Scheme and ACCEPTS the grant on the terms set out in their agreement. 
  

	2.	Terms of the Scheme 

  

	2.1	Under the terms of the Scheme the Option Holder may acquire the number of ordinary shares (“Shares”) in the Company stated in clause 6.1(a) at the Option price per Share set out in clause
6.1(b).

  

	2.2	The Option is granted and exercisable subject to the terms and conditions set out in the Scheme and in this Option Agreement. 

  

	3.	Memorandum and articles 

 Any Shares allotted or transferred pursuant to the exercise of
the Option are subject to the memorandum and articles of association of the Company (as amended from time to time) and to any necessary consents of any governmental or other authorities under any enactments from time to time in force. 

  
 21 

	4.	Non transferable 

 The Option is personal to the Option Holder and is not transferable,
assignable or chargeable.
  

	5.	Exercise 

 The Option shall not be exercisable on or after the 10th Anniversary of the date of grant of the Original Option. 
  

	6.	Grant 

  

	6.1	The details of the grant are as follows; namely 

  

	 	(a)	Number of Shares subject to the Option                      [●]. 

 

	 	(b)	Option price per
Share                                        
         [●]. 

  

	 	(c)	Date of
grant                                        
                        [●]. 

  

	 	(d)	Vesting Commencement
Date                                     [●].

  

	6.2	The Option Holder irrevocably agrees to reimburse the Relevant Company for any Employer’s NICs arising on the exercise of an Option; or agrees to enter into an election with the Relevant Company to assume the
liability for any Employer’s NICs, payable on the exercise of the Option, including an election under paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992. 

 

	6.3	The exercise of the Option shall be conditional upon the Option Holder making good any Tax Liability in relation to the Option, or entering into arrangements acceptable to the Company in respect of such Tax Liability,
in accordance with rule 10.4 of the Scheme. 

  

	6.4	The Option shall vest in accordance with the following Vesting Schedule: 

  

	 	(a)	25 per cent (25%) of the Shares on the first anniversary of the Vesting Commencement Date; and 

  

	 	(b)	the remaining 75% of the Shares shall vest in equal instalments (with rounding up of whole numbers of Shares where necessary) over the next 36 months. 

On the occurrence of an event within rule 12 of the Plan (Takeover, Reconstruction, Liquidation and Sale of the Business) an additional 25% of
the total number of Shares under the Option shall vest. 
  

	7.	Working Time Declaration 

 The Option Holder hereby declares, pursuant to the requirement
set out in paragraph 44(5)(c) of Schedule 5, that he works for the Company or for a subsidiary of the Company for at least: 
  

			
	 (a)    25 hours a week
	  	 ̈
		
	 (b)    75% of his working time
	  	 ̈

  
 and therefore satisfies the Committed Time
requirement in paragraph 26 of Schedule 5. 

  
 22 

 This option agreement has been executed as a deed and unconditionally delivered on the date first above written.

  

			
	SIGNED as a DEED	  	)
	By MAGIC PONY TECHNOLOGY LIMITED acting by	  	)
		  	Director

 Signature of Witness: 
 Name of
Witness: 
 Address: 
 Occupation: 

 

					
	SIGNED as a DEED	  	)	  	
	By [Option Holder]	  	)	  	

 Signature of Witness: 
 Name of
Witness: 
 Address: 
 Occupation: 

NOTE: The Option Holder must ensure that they have ticked the appropriate option under the Working Time Declaration in paragraph 7 above. 

The Company shall retain the original signed and dated option agreement and give a copy to the Option Holder within 7 days to satisfy paragraph 44(5)(b) of
Schedule 5 or two copies of the option agreement shall be signed, one for the Company and one for the Option Holder. 

  
 23 

 SCHEDULE 2 

NOTICE OF EXERCISE 
  

	TO:	The Secretary, Magic Pony Technology Limited 

 I/We, being the holder or the Personal Representative(s) of the
holder,* of the option granted in the Option Certificate overleaf (“the Option”): 
  

	2.3	hereby exercise the Option to acquire                      ordinary shares in Magic Pony Technology Limited
(“the Shares”) at a price of £[●] per ordinary share, subject to the provisions contained in an Option Agreement dated [●] (“the Agreement”) made pursuant to the Magic Pony Technology Limited EMI
Share Option Scheme and made between Magic Pony Technology Limited and [●]; 

  

	2.4	enclose a cheque for the total price of the Shares (£                    ) in favour of Magic Pony
Technology Limited (“the Company”) and crossed “a/c payee”, or such other documentation in respect of bridging finance or undertaking to procure payment as may be agreed by the Directors; 

 

	2.5	authorise and request you to enter my/our name(s) in the Company’s Register of Members as the holder(s) of the Shares, subject to the Company’s Memorandum and articles of association; 

 

	2.6	hereby covenant to pay the Company the amount of any Tax Liability** which may arise as a consequence of or in connection with this exercise of the Option (and, for the purposes of this Notice of Exercise, the
expression “Tax Liability” has the same meaning as it has in the Agreement; 

  

	2.7	in order to give effect to this covenant, I/we hereby authorise and appoint the Company as my/our attorney in my/our name(s) and on my/our behalf: 

 

	 	(a)	to sell such number (but no more) of the Shares registered in my/our name(s) as will enable the Company (after payment of all necessary selling expenses and commissions) to recover and retain for itself from the sale
proceeds an amount equal to such Tax Liability and then account to me/us for any cash balance remaining, provided that the Company may sell that number of shares at such price or prices as it shall, in its absolute discretion, consider fair and
reasonable, and 

  

	 	(b)	generally to sign any stock transfer form or other document or documents which may be required and to do any other thing which the Company shall consider necessary or expedient for carrying out the acts hereby
authorised in the same manner and as fully in all respects as I/we could have done personally and I/we hereby undertake to ratify everything which the Company shall do or purport to do by virtue of this power of attorney; and 

 

	2.8	request you to send a share certificate in respect of the Shares not sold pursuant to the authority given above (and, if appropriate, a balance option certificate) to me/us at the address given below. 

SIGNED and DELIVERED as a DEED BY 
  

							
	Name	 	  
	  	Address	  	  

				
	Signature	 	  
	  		  	  

				
	Date	 	  
	  		  	
				
	in the presence of:-	 		  		  	
				
	Witness’ Name	 	  
	  	Address	  	  

				
	Witness’ Signature	 	  
	  		  	  

  

	*	Personal Representatives should enclose an Office Copy of the relevant Grant of Probate or Letters of Administration. 

	**	Persons exercising the option should consult with the Company as to whether any Tax Liability is anticipated, however the Company does not undertake to advise you on the tax consequences of exercising your
Option. If you are unsure of the tax liabilities which may arise you should take appropriate professional advice before exercising your Option. 

  
 24 

 SCHEDULE 3 

S.431 ELECTION 
 Joint
Election under s431 ITEPA 2003 for full or partial disapplication of Chapter 2 
 Income Tax (Earnings and Pensions) Act 2003 

Employment-related securities acquired on exercise of qualifying options exercised before the tenth anniversary of the date of grant. 

One Part Election 
 Between 

 

			
	the Employee	  	[●]
		
	whose National Insurance Number is	  	[●]
		
	and	  	
		
	the Company (which is the Employee’s employer)	  	Magic Pony Technology Limited
		
	of Company Registration Number	  	09356191

 Purpose of Election 
 This
joint election is made pursuant to section 431(1) Income Tax (Earnings and Pensions) Act 2003 (ITEPA) and applies where employment-related securities, which are restricted securities by reason of section 423 ITEPA, are acquired. 

The effect of an election under section 431(1) is that, for the relevant Income Tax and NIC purposes, the employment-related securities and their market value
will be treated as if they were not restricted securities and that sections 425 to 430 ITEPA do not apply. 

 

Should the value of the securities fall following the acquisition, it is possible that Income Tax/NIC that would have arisen because of any
future chargeable event (in the absence of an election) would have been less than the Income Tax/NIC due by reason of this election. Should this be the case, there is no Income Tax/NIC relief available under Part 7 of ITEPA 2003; nor is it
available if the securities acquired are subsequently transferred, forfeited or revert to the original owner. 

 Application 

This joint election is made not later than 14 days after the date of acquisition of the securities by the employee and applies to: 

			
		
	Number of securities	  	  

		
	Description of securities	  	Ordinary shares in the capital of Magic Pony Technology Limited
		
	Name of issuer of securities	  	Magic Pony Technology Limited
		
	Acquired by the Employee on	  	  

  
 25 

 Extent of Application 

This election disapplies S.431(1) ITEPA: All restrictions attaching to the securities. 

Declaration 
 This election will become irrevocable upon
the later of its signing or the acquisition of employment-related securities to which this election applies. 
 In signing this joint election, we agree to
be bound by its terms as stated above. 
  

					
	  
	 		 	    /    /            
	Signature (Employee)	 		 	Date
			
	  
	 		 	    /    /            
	Signature (for and on behalf of the Company)	 		 	Date
			
	  
 Position in company
	 		 	

  
 26

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