Document:

Exhibit 10.15

   

  ADC Therapeutics Ltd

   

  2016 Share Purchase Plan

  
    
      
 

  

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	2 | 7

  
 

   

  	 	Table of Contents	 
	 	 	 
	1.	Purpose	 3
	 	 	 
	2.	Eligibility and Participation	 3
	 	 	 
	3.	Offer to Purchase Shares	 3
	 	 	 
	4.	Purchase Price and Promissory Note	 3
	 	 	 
	5.	Completion 	 4
	 	 	 
	6.	Leaver Provisions	 5
	 	 	 
	7.	Dealing in Shares	 5
	 	 	 
	8.	
          Adherence to Shareholders’ Agreement

        	
          6

           

        
	 	 	 
	9.	Additional Provisions	6
	 	9.1	No Right of Continued Contractual Relationship	 6
	 	9.2	Taxes and Social Security Contributions	 6
	 	9.3	Amendment, Administration and Termination	 6
	 	9.4	Data Protection	 7
	 	9.5	Severability	 7
	 	9.6	Applicable Law and Jurisdiction	 7
	 	 	 	 
	10.	Approval and Date of Effect of the Plan	 7

  
    
      
 

  

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	3 | 7

     
    	1.	Purpose

  
 

  The purpose of this 2016 Stock Purchase Plan (such plan, as amended from time to time, the Plan) is to provide select
    employees, members of the board of directors or independent contractors of ADC Therapeutics Ltd (the Company) or its subsidiaries (each an Eligible Person) with an opportunity to participate in the future long term success and growth
    of the Company and its subisidiaries and to align their interest with those of the shareholders of the Company. It is intended that the Plan will motivate and retain such individuals as well as foster entrepreneurial behavior and thus enhance the value
    of the Company for the benefit of its shareholders.

   

  	2.	Eligibility and Participation

   

  		(a)	In general, Eligible Persons are select employees, members of the board of directors and independent contractors of the Company or of a subsidiary of the Company. Being an Eligible Person as such does not provide any
          right or claim to actually participate in the Plan (and thus become a Participant) at any time. The board of directors of the Company (the BoD) in its sole discretion and from time to time determines the Eligible Persons to whom
          participation in the Plan shall actually be offered.

   

  		(b)	The BoD may invite Eligible Persons from time to time to participate in the plan by entering into an individual Share Purchase Agreement substantially in the form as set out in Annex A (each a Share
            Purchase Agreement). By executing the Share Purchase Agreement, a Participant accepts and acknowledges the terms and conditions of the Plan as well as the details contained in the Share Purchase Agreement and, thus, becomes a Participant
          to the extent set out in the Share Purchase Agreement.

   

  		(c)	The right to participate in the Plan is personal and not transferable, except that, subject to the BOD’s prior approval and the transferee’s assumption of all obligations of the Participant under the Plan, such right
          may be transferred to family members and family trusts before the Shares are listed on an internationally recognized securities exchange.

   

  		(d)	Neither the establishment of or participation in the Plan, nor the payment of any benefits and transfer of Shares, nor any action of the Company or its subsidiaries or of the BoD shall be held or construed to confer
          upon any Participant or Eligible Person any right to participate in the Plan in the future.

   

  	3.	Offer to Purchase Shares

   

  The BoD in its sole discretion may offer a defined number (including fractions) of class A common shares in the Company (including
    fractions of a share, the Shares) to select Eligible Persons for direct or indirect purchase in accordance with the provisions of this Plan and subject to the execution of a Share Purchase Agreement.

   

  	4.	Purchase Price and Promissory Note

   

  		(a)	The purchase price for the Shares (the Purchase Price) shall be determined by the BoD in accordance with rulings obtained from the competent tax authorities (if any) from time to time.

  
    
      
 

  

   

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	4 | 7

  

   

  		(b)	The Participant shall pay the Purchase Price, directly or indirectly, as follows:

   

  		(i)	the nominal value of the Shares shall be paid in cash; and

   

  		(ii)	the balance between the Purchase Price and the nominal value of the Shares shall be paid at the election of the Participant in cash or in the form a promissory note from the Participant to the Company substantially in the form as attached to
          the form of the Share Purchase Agreement (the Promissory Note) or partly in cash and partly in the form of a Promissory Note.

   

  		(c)	The Promissory Note shall provide for full recourse, be repayable within five years (subject to early repayment in certain events) and shall bear interest at the minimum interest rate pursuant to the guidelines for related party transactions as
          periodically published by the Swiss Federal Tax Authority (AFC).

   

  	5.	Completion

   

  		(a)	Given that, as a matter of corporate law, the Company may not issue fractional shares, the Shares shall be issued to A.T. Holdings II Sari, Epalinges, or any other affiliate of the Company (ATH II). The legal
          interest in the Shares shall be held by ATH II as a nominee on behalf and for the account of each Participant.

   

  		(b)	On a date mutually agreed by ATH II and the Participant (the Completion Date), but no later than 10 business days from the date of execution of the respective Share Purchase Agreement, the Participant shall
          deliver, or procure the delivery, to ATH II:

   

  		(i)	a cash amount representing the nominal value of the Shares; and

   

  		(ii)	as elected by the Participant, a cash amount and/or an executed counterpart of the Promissory Note for the balance between the Purchase Price and the nominal value of the Shares.

   

  		(c)	On the Completion Date, ATH II and the Company shall enter into a subscription agreement (the Subscription Agreement), pursuant to which ATH II will subscribe for a sufficient number of Shares to ensure the
          delivery to the Participant of the Shares purchased by the Participant, pay the nominal value of the Shares in cash and deliver to the Company the Promissory Note in lieu of paying the share premium.

   

  		(d)	On or before the Completion Date, the Participant and ATH II shall enter into a Nominee Agreement substantially in the form as attached to the form of the Share Purchase Agreement (the Nominee Agreement).

   

  		(e)	As soon as practicable after the Completion Date, but no earlier than the date of receipt of the provisional commercial register excerpt (Tagebuchauszug) evidencing the issuance of the Shares to ATH II, the
          Company shall register ATH II as a shareholder with voting rights and nominee for the Participant with regard to the Shares.

  
    
      
 

  

   

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	5 | 7

  

   

  	6.	Leaver Provisions

   

  		(a)	If the Participant’s employment relationship with the Company or any subsidiary of the Company (the Employment) is terminated for whatever reason, the Company (and|or its designee) shall have the right, but not the obligation, to
          repurchase within thirty (30) calendar days of such termination such portion of the Participant’s Shares as is determined in accordance with the table below at a price per Share equal to the purchase price of such Share (calculated by dividing
          the applicable Purchase Price for all Shares by the number of Shares being acquired under the relevant Share Purchase Agreement) as of the date the Participant is provided with a written notice requiring the repurchase of his Shares.

   

   

  	Date

            of termination of the Employment:	% of
            Participant’s Shares that Company (and|or its designee) may repurchase
	prior to or on the first anniversary of the Reference Date (as defined below)	100%
	after the first anniversary but on or before the second anniversary of
          the Reference Date	75%
	after the second anniversary but on or before the third anniversary of
          the Reference Date	50%
	after the third anniversary but on or before the fourth anniversary of
          the Reference Date	25%
	after the fourth anniversary of the Reference Date	0%

   

  		(b)	The Reference Date with respect to each Share Purchase Agreement shall be the date of such Share Purchase Agreement or any other date as determined by the BoD and stated in
          such Share Purchase Agreement.

   

  		(c)	The consideration for such repurchase may at the election of the Company be satisfied by a waiver of all or part of the Participant’s outstanding obligations under the relevant Promissory Note (if any).

   

  		(d)	The Company shall not terminate the Employment solely for the purposes of causing the Participant not to enjoy the economic benefits of this Agreement.

   

  	7.	Dealing in Shares

   

  The Participant shall not, before the Shares or any shares substituted for the Shares are listed on an internationally recognized
    securities exchange (but subject, however, to any lock-up arrangement in connection with such listing), transfer, dispose, assign, grant security over, pledge or otherwise deal in or grant any interest over any interest in the Shares (or the
    Participant’s rights and entitlements thereto or under the Nominee Agreement) to any person without prior written consent of the Company.

  
    
      
 

  

   

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	6 | 7

  

   

  	8.	Adherence to Shareholders’ Agreement

   

  The Participant shall undertake to the Company (for itself and on behalf of each other party to the Amended and Restated
    Shareholders Agreement relating to the shares in the Company dated November 19, 2015, as amended or replaced from time to time (the Shareholders’ Agreement)), with respect to the Shares or any rights and entitlements thereto and to the Nominee
    Agreement and with effect from the date of the relevant Share Purchase Agreement, to assume, perform and comply with each of the obligations as a Shareholder under the and as defined in the Shareholders’ Agreement, as if the Participant had been a
    party thereto at the date of its execution. To the extent the Shareholders’ Agreement refers to the Shares, it shall also refer to any rights and entitlements of the Participant thereto or under the Nominee Agreement.

   

  	9.	Additional Provisions

   

  	9.1	Participants’ Contractual Relationships

   

  		(a)	Neither the establishment of the Plan, nor the participation in the Plan, nor the payment of any benefits and transfer of Shares, nor any action by the Company or its subsidiaries or the BoD relating to the Plan
          shall be held or construed to confer upon any Participant any legal right for continuance of the contractual relationship with the Company or its relevant subsidiary (as applicable).

   

  		(b)	The Company and its subsidiaries expressly reserve the right to terminate the contractual relationship of any Participant whenever the interest of the Company or its subsidiaries may require so, without any liability
          of the Company and its subsidiaries, except as to any rights which may be expressly conferred upon such Participant under the Plan or the Participant’s contractual agreement.

   

  		(c)	Nothing in the Plan shall be construed as being considered as part of the salary or compensation for the purposes of calculating any resignation, redundancy or other termination payments, vacation, bonuses, long-term
          service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any similar kind.

   

  	9.2	Taxes and Social Security Contributions

   

  		(a)	Every Participant is responsible for the correct tax and social security declarations and payments according to the applicable law.

   

  		(b)	Any arising wage tax, income tax, capital gains tax, social security contributions or any other taxes or contributions payable by the Participant, must be borne by the Participant in accordance with applicable law.

   

  		(c)	The Participant’s employer has the right to make withholdings from a Participant’s salary or retain Shares to meet payroll withholding obligations or request payment from the Participant unless the funds are provided
          otherwise to the employer.

   

  	9.3	Amendment, Administration and Termination

   

  		(a)	The Plan is administered by the BoD. The BoD in its sole discretion may at any time and from time to time appoint a person or entity to administer the Plan (the Plan Administrator).

   

  
    
      
 

  

   

  
    		ADC Therapeutics Ltd – 2016 Share Purchase Plan	7 | 7

  

    

  		(b)	The BoD may terminate, suspend or amend this Plan at any time, at its sole discretion with regard to all or some future or past purchases of Shares under this Plan. Any adverse economic effects of such termination,
          suspension or amendment on purchases already made pursuant to a Share Purchase Agreement shall be fairly compensated in cash, by replacement by other benefits, or otherwise.

   

  		(c)	Unless otherwise provided in the Plan, the BoD has full power to construe and interpret the Plan, establish and amend regulations and perform all other acts relating to the Plan, including the delegation of
          administrative tasks to third parties, to the extent that it deems reasonable and adequate.

   

  		(d)	All decisions made by the BoD pursuant to the provisions of the Plan and related resolutions of the BoD shall be final, conclusive and binding for the Company, ATH II and the Participants.

   

  	9.4	Data Protection

   

  The Participant consents to the collection and processing of personal data relating to the Participant by the BoD, the Plan
    Administrator, the Company’s subsidiaries and any other person the Company may find appropriate for the administration of the Plan. The data will be used by the aforementioned parties to fulfill their obligations and exercise their rights under the
    Plan, enter into agreements (if any), issue statements and communication relating to the Plan, and generally administer and manage the Plan, including keeping records of participation levels. The data processing may be performed within or outside of
    Switzerland.

   

  	9.5	Severability

   

  Should any of the provisions of the Plan become, or be held to be, in whole or in part, obsolete, invalid or unenforceable, all
    other regulations shall remain in force and shall continue to apply. Any obsolete, invalid or unenforceable provision shall be deemed to be automatically amended and replaced by valid, effective and enforceable provisions, which accomplish as far as
    possible the purpose and intent of this Plan with respect to the obsolete, invalid or unenforceable provision.

   

  	9.6	Applicable Law and Jurisdiction

   

  		(a)	This Plan shall be exclusively governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of laws principles.

   

  		(b)	The exclusive place of jurisdiction for any dispute, claim or controversy arising under, out ofor in connection with or related to this Plan (or subsequent amendments thereof), including, without limitation,
          disputes, claims or controversies regarding its existence, validity, interpretation, performance, breach or termination, shall be Epalinges, Switzerland.

   

  	10.	Approval and Date of Effect of the Plan

   

  		(a)	This Plan has been approved by the BoD and shall become effective on 18 November, 2016.

   

  		(b)	The Participants accept the terms and regulations of this Plan by signing the respective Share Purchase Agreement.

  
    
      
 

  

  Annex A: Form of Share Purchase Agreement

  
    
      
 

  

  	Final_17 March 2016	 
	 	 
	Confidential	 
	 	 
	Share Purchase Agreement	 
	 	 
	dated [Month] [Day], 2016	 
	 	 
	by and between	 
	 	 
	
          [Name of employee]

           

          [Address of employee]

           

        	(hereinafter the Participant)
	and	 
	 	 
	A.T. Holdings II Sàrl	(hereinafter ATH II)
	Biopôle	 
	route de la Corniche 3 B	 
	1066 Epalinges	 
	Switzerland	 
	 	 
	and	 
	 	 
	ADC Therapeutics Ltd	(hereinafter the Company,
	route de la Corniche 3 B	together with the Participant and
	1066 Epalinges	ATH II the Parties)
	Switzerland	 

   

  regarding the purchase of shares under the 2016 Share Purchase Plan of the Company

  
    
      
 

  

  
    	Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	2 | 4

  
 

   

   

  Whereas

   

  		A.	The Participant wishes to purchase from ATH II, and ATH II wishes to sell to the Participant, ■ [number of shares allocated to the employee] Class A common shares in the Company subject to and in accordance with the terms of
          this Agreement and the 2016 Share Purchase Plan of the Company attached hereto as Annex A (the Plan).

   

  Now, therefore, the Parties agree as follows:

   

  	1.	Definitions

   

  Unless otherwise defined herein, capitalized terms shall have the meaning ascribed to them in the Plan.

   

  	2.	Purchase

   

  		(a)	ATH II hereby agrees to sell and the Participant hereby agrees to purchase ■ ([number in words]) Shares subject to the terms of this agreement and the Plan.

   

  		(b)	The Purchase Price shall be the aggregate sum of CHF ■ and shall be satisfied as follows:

   

  		(i)	CHF ■ shall be paid in cash (the Cash Amount); and

   

  		(ii)	the balance between the Purchase Price and the Cash Amount shall be paid in the form of a Promissory Note.

   

  		(c)	The Shares shall be sold with full title guarantee free from all encumbrances and shall have the rights, preferences and priorities as set forth in the articles of association of the Company.

   

  	3.	Completion

   

  		(a)	The Completion Date shall be ■ 2016.

   

  		(b)	The form of the Promissory Note to be executed by the Completion Date (if any) is attached hereto as Annex 3(b).

   

  		(c)	The form of the Nominee Agreement to be entered into by the Completion Date is attached hereto as Annex 3(c).

  

  
    
      
 

  

  
    	Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	3 | 4

  
 

  	4.	Adherence to Shareholders’ Agreement

   

  The Participant hereby adheres to the Shareholders’ Agreement with effect as from the date hereof and in accordance with Article 8 of the Plan.

   

  	5.	Leaver Provisions – Reference Date

   

  The Reference Date for purposes of Article 6 of the Plan shall be [the date of this Agreement | ■].

   

  	6.	Governing Law and Jurisdiction

   

  		(a)	This Agreement shall be exclusively governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of laws principles.

   

  		(b)	The exclusive place of jurisdiction for any dispute, claim or controversy arising under, out ofor in connection with or related to this Agreement (or subsequent amendments thereof), including, without limitation,
          disputes, claims or controversies regarding its existence, validity, interpretation, performance, breach or termination, shall be Epalinges, Switzerland.

   

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    	Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	4 | 4

  
 

   

  
    	 	 	 
	The Participant	 	 
	 	 	 
	[Name]	 	 
	 	 	 
	A.T. Holdings II Sàrl	 	 
	 	 	 
	[Name] 	 	[Name]
	[Function]	 	[Function]
	 	 	 
	ADC Therapeutics Ltd	 	 
	 	 	 
	[Name] 	 	[Name]
	[Function]	 	[Function]

  
 

  
    
      
 

  

  
    	Annex A of the Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	1 | 1

  
 

  Annex A: 2016 Share Purchase Plan

  
    
      
 

  

  
    	Annex 3(a) of the Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	1 | 1

  
 

  Annex 3(a): Form of Promissory Note

  
    
      
 

  

  Final_17 March 2016

   

  

  Confidential

   

  Promissory Note

   

  dated as of________________ 2016

   

  The undersigned, [name and address] (the Borrower), hereby unconditionally promises to pay to ADC Therapeutics Ltd,
    Epalinges, Switzerland (CHE-461.408.645) (the Lender), the amount of USD [include amount] ([amount in words] U.S. Dollars) (the Principal Amount), in immediately available funds, pursuant to the following terms and
    provisions:

   

  		1.	The Borrower hereby promises to pay to the Lender any outstanding balance of the Principal Amount, and any accrued interest, in full, by no later than [the tenth anniversary of the date hereof].

   

  		2.	In the event of an Early Repayment Event (as defined below), the Borrower hereby promises to pay to the Lender any outstanding balance of the Principal Amount, and any accrued interest, in full within 30 calendar
          days following such Early Repayment Event.

   

  An Early Repayment Event is defined as a (i) change of control wherein a person, or group of persons acting in concert
    (including AstraZeneca UK Limited, any affiliate thereof or any company it controls, but excluding Auven Therapeutics Holdings L.P. and any other company in which Auven Therapeutics Holdings L.P. holds a direct or indirect controlling interest) obtains
    more than 50% of the voting rights in the Lender; or (ii) a sale of all or substantially (i.e., no less than 90% of the fair market value) all of the assets of the Lender; provided that, without prejudice to Clause 1, in the event
    that the Early Repayment Event does not deliver to the Borrower sufficient net upfront proceeds to satisfy the outstanding Principal Amount at that time, then the Borrower and the Lender shall enter into good faith negotiations regarding the
    appropriate and reasonable repayment terms.

   

  		3.	In the event of an IPO (as defined in the Amended and Restated Shareholders Agreement relating to the shares in the Lender dated November 19, 2015) of the Lender, the Borrower and the Lender shall, without prejudice
          to Clause 1, enter into good faith negotiations regarding the appropriate repayment schedule in the event the Borrower disposes of shares in the Lender such that the Borrower is repaying the Principal Amount proportionately to sales of shares.

   

  		4.	The Borrower hereby promises to pay to the Lender interest on the unpaid Principal Amount for the period from and including the date hereof to but excluding the date the Principal Amount be paid in full, at the
          minimum interest rate pursuant to the guidelines for related party transactions as periodically published by the Swiss Federal Tax Authority (AFC). Interest on this Promissory Note shall be computed on the basis of a year of 360 days and
          actual days elapsed (including the first day but excluding the last day) occurring in the period for which payable. The current interest rate prescribed by the AFC is 0.25% per annum.

  
    
      
 

  

  2 | 4

   

  		5.	The Borrower may prepay the Principal Amount, or any part thereof, at any time, along with accrued interest, but may not re-borrow any amount so prepaid.

   

  		6.	The Borrower may repay the Principal Amount, or any part thereof, at any time by delivering all or part of the shares in the Lender purchased by the Borrower under the Share Purchase Agreement dated ■, 2016, between
          the Borrower, the Lender and A.T. Holdings II Sàrl back to the Lender in full or partial satisfaction of the Principal Amount. For the purposes of this Clause 6, the value of the shares so delivered back to the Lender shall be determined in
          accordance with internationally recognized valuation principles.

   

  		7.	Upon the occurrence of any of the following events, each of which shall constitute a default under this Promissory Note, the Principal Amount and accrued interest shall thereupon or thereafter, at the option of
          Lender, without notice or demand, become immediately due and payable: (a) failure of the Borrower to pay in full any amounts due under this Promissory Note; (b) the death of the Borrower; (c) the entry of a judgment against the Borrower, or the
          issuing of any attachments or garnishment or the filing of any lien against any property of the Borrower, which is not satisfied within thirty (30) days of the date thereof; and (d) the taking of possession of any substantial part of the property
          of the Borrower at the instance of any governmental authority.

   

  		8.	The Borrower shall make all payments under or in respect of this Promissory Note without set-off or counterclaim and free and clear of any withholding or deduction for or on account of tax, save as may be required by
          law.

   

  		9.	The Borrower shall pay, on demand and on a full indemnity basis, all costs and expenses (including VAT) which from time to time may be incurred by the Lender in connection with any breach by the Borrower of its
          obligations under or in relation to the Promissory Note.

   

  		10.	Any demand or notice in respect of this Promissory Note shall be in writing and (without prejudice to any other effective means of serving it) may be served on the Borrower personally or by mail to the address
          indicated on page 1 hereof or any other address notified to the Lender in writing from time to time.

   

  		11.	No failure by the Lender to exercise or delay by the Lender in exercising any right or remedy under or in respect of this Promissory Note shall operate as a waiver of it, nor shall any single partial or defective
          exercise by the Lender of any such right or remedy preclude any other or further exercise of that or any other right or remedy.

   

  		12.	The Borrower may not assign or transfer any of its rights or obligations under this Promissory Note without the Lender’s prior written consent.

   

  		13.	This Promissory Note shall be exclusively governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of laws principles.

   

  		14.	The exclusive place of jurisdiction for any dispute, claim or controversy arising under, out ofor in connection with or related to this Promissory Note (or subsequent amendments thereof), including, without
          limitation, disputes, claims or controversies regarding its existence, validity, interpretation, performance, breach or termination, shall be Epalinges, Switzerland.

  
    
      
 

  

  3 | 4

   

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  4 | 4

   

  	The Borrower	 	 
	 	 	 
	 	 	 
	[Name]	 	 
	 	 	 
	 	 	 
	Agreed and accepted by the Lender:	 	 
	 	 	 
	ADC Therapeutics Ltd	 	 
	 	 	 
	 	 	 
	[Name]	 	[Name]
	[Function]	 	[Function]

  
    
      
 

  

  
    	Annex 2(c) of the Share Purchase Agreement between ■ and A.T. Holdings II Sàrl and ADC Therapeutics Ltd.	1 | 1

  
 

   

  Annex 2(c): Form of Nominee Agreement

  
    
      
 

  

  Final_17 March 2016

   

  

  Confidential

   

  
    	Nominee Agreement	 
	 	 
	dated [Month] [Day], 2016	 
	 	 
	by and between	 
	 	 
	[Name of employee]	 
	[Address of employee]	(hereinafter the Participant)
	 	 
	and	 
	 	 
	A.T. Holdings II Sàrl	 
	Biopôle	 
	route de la Corniche 3 B	(hereinafter ATH II or the Nominee)
	1066 Epalinges 	 
	Switzerland 	 
	 	 
	regarding shares in ADC Therapeutics Ltd	 

  
 

   

  Whereas

   

  		A.	On ■, 2016, the Participant, ATH II and ADC Therapeutics SA (the Company) entered into a Share Purchase Agreement regarding the purchase by the Participant of Class A common shares in the Company.

   

  		B.	On or around the date hereof, the Participant will purchase ■ Class A shares in the Company (the Shares) from ATH II, such Shares to be held by ATH II as nominee.

   

  		C.	The Participant wishes to appoint ATH II as nominee in relation to the Shares and ATH II wishes to act as nominee for the Participant subject to and in accordance with the terms of this Agreement.

   

  Now, therefore, the Parties agree as follows:

   

  	1.	Appointment of Nominee

   

  		(a)	The Participant hereby appoints and designates ATH II as nominee of the Shares for the Participant upon the terms and conditions of this Agreement.

  
    
      
 

  

  
    	Nominee Agreement between ■ and ■	2 | 4

  
 

   

   

  		(b)	The Nominee shall hold the Shares not in its own name but on behalf and for the account of the Participant until either Party terminates this Agreement, it being understood and agreed that the Participant may only
          terminate the Agreement after the Company has completed a share split which results in the Participant no longer being the holder of fractional shares in the Company but only of a whole number of shares.

   

  		(c)	This Agreement shall automatically terminate upon the Participant’s due registration as a shareholder of the Company. The Nominee hereby assigns such shares in the Company as it will hold as nominee for the
          Participant under this Agreement, and transfer all voting and shareholder rights associated therewith, upon such automatic termination.

   

  	2.	Voting and Shareholder Rights

   

  		(a)	Any shareholder rights under and in connection with the Shares shall be exercised by the Nominee.

   

  		(b)	The Nominee may exercise the voting rights relating to the Shares at the general shareholders’ meetings of the Company, taking into account the wishes of the Participant, both acting reasonably, and in compliance
          with the Amended and Restated Shareholders Agreement relating to the shares in the Company dated November 19, 2015, or any subsequent shareholders’ agreement (such agreement as in force at any time the Shareholders’ Agreement).

   

  		(c)	The Parties agree that the Participant shall be entitled to any dividends or other distributions made with respect to the Shares. The Nominee shall be entitled to set off any claims for indemnity pursuant to Article
          3 of this Agreement against such dividends or other distributions.

   

  		(d)	The Nominee undertakes to deliver to the Participant copies of any and all shareholder communications of the Company within a reasonable period following receipt by the Nominee of the same.

   

  	3.	Indemnity

   

  Any and all risks and consequences that may result for the Nominee out of this Agreement shall be borne by the Participant. The
    Participant agrees to indemnify, defend and hold harmless the Nominee from and against any and all losses, liabilities, damages, taxes, costs and expenses actually and reasonably incurred by the Nominee in connection with this Agreement, unless caused
    by gross negligence, willful default or fraud on the part of the Nominee.

   

  		4.	Governing Law and Jurisdiction

   

  		(a)	This Agreement shall be exclusively governed by and construed in accordance with the substantive laws of Switzerland, excluding its conflict of laws principles.

  
    
      
 

  

   

  
    	Nominee Agreement between ■ and ■	3 | 4

    

    

  
 

  		(b)	The exclusive place of jurisdiction for any dispute, claim or controversy arising under, out ofor in connection with or related to this Agreement (or subsequent amendments thereof), including, without limitation, disputes, claims or
          controversies regarding its existence, validity, interpretation, performance, breach or termination, shall be Epalinges, Switzerland.

   

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    	Nominee Agreement between ■ and ■	4 | 4

    

    

  
 

  
    	The Participant	 	 
	 	 	 
	 	 	 
	[Name]	 	 
	 	 	 
	A.T. Holdings II Sàrl	 	 
	 	 	 
	 	 	 
	[Name]	 	[Name]
	[Function]	 	[Function]Exhibit 10.16

      

     

      

    ADC THERAPEUTICS SA

    2019 EQUITY INCENTIVE PLAN

      (as amended and restated effective April 15, 2020)

    

    

    Section 1.  Purpose.  The purpose of the ADC
        Therapeutics SA 2019 Equity Incentive Plan (the “Plan”) is to motivate and reward employees, directors, consultants and advisors of ADC Therapeutics SA (the “Company”)
        and its Subsidiaries to perform at the highest level and to further the best interests of the Company and its shareholders. Capitalized terms not otherwise defined herein are defined in Section 21. The Plan and the pool of available Shares
        established under Section 4 as of the Effective Date of the Plan are intended to provide for grants of Awards for such purpose for a period of at least three years.

     

      

    Section 2.  Eligibility.

     

      

    (a)          Any employee, Non-Employee Director, consultant or other advisor of the Company or
        any Subsidiary shall be eligible to be selected to receive an Award under the Plan.

     

      

    (b)          Holders of equity compensation awards granted by a company acquired by the Company
        (or whose business is acquired by the Company) or with which the Company combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise) are eligible to be selected to receive grants of Replacement
        Awards under the Plan.

     

      

    Section 3.  Administration.

     

      

    (a)          The Plan shall be administered by the Committee. The Board may designate one or more
        directors of the Company as a subcommittee who may act for the Committee if necessary to satisfy the requirements of this Section. The Committee may issue rules and regulations for administration of the Plan.

     

      

    (b)          Subject to the terms of the Plan and applicable law, the Committee (or its delegate)
        shall have full power and authority to:

    
      
         

        

        (i)          designate Participants;

      

    

    
      
         

         

        

        (ii)         determine the type or types of Awards (including Replacement Awards) to be granted to each Participant under the Plan;

      

    

    
      
         

        

        (iii)        determine the number of Shares to be covered by (or with respect to which payments, rights or other matters are to be calculated in connection with) Awards;

      

    

    
      
         

        

        (iv)        determine the terms and conditions of any Award;

      

    

    
      
         

        

        (v)         determine whether, to what extent and under what circumstances Awards may be settled or exercised in cash, Shares, other Awards, other property, net settlement (including
          cashless exercise) or any combination thereof, or canceled, forfeited or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited or suspended;

      

    

    
      
        
          
            

        

        (vi)        determine whether, to what extent and under what circumstances cash, Shares, other Awards, other property and other amounts payable with respect to an Award under the Plan shall
          be deferred either automatically or at the election of the holder thereof or of the Committee;

      

    

    
      
         

        

        (vii)       interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan;

      

    

    
      
         

        

        (viii)      establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and

      

    

    
      
         

        

        (ix)        make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan.

      

    

     

      

    (c)          All decisions of the Committee shall be final, conclusive and binding upon all
        parties, including the Company, its shareholders and Participants and any Beneficiaries thereof.

     

      

    Section 4.  Shares Available for Awards.

     

      

    (a)          Subject to adjustment as provided in Section 4(c), the maximum number of Shares
        available for issuance under the Plan shall not exceed 9,104,000 Shares.  Shares underlying Replacement Awards and Shares remaining available for grant under a plan of an acquired company or of a company with which the Company combines (whether by
        way of amalgamation, merger, sale and purchase of shares or other securities or otherwise), appropriately adjusted to reflect the acquisition or combination transaction, shall not reduce the number of Shares remaining available for grant hereunder.

     

      

    (b)          Any Shares subject to an Award (other than a Replacement Award and any Award granted
        out of the authorized shares of an acquired plan), that expires, is canceled, forfeited or otherwise terminates without the delivery of such Shares, including any Shares subject to such Award to the extent that such Award is settled without the
        issuance of Shares, shall again be, or shall become, available for issuance under the Plan.  Any Shares surrendered or withheld in payment of any grant, acquisition or exercise price of such Award or taxes, duties or social security related to such
        Award shall become available for issuance under the Plan.

    
      
        

    

    (c)          In the event that, as a result of any dividend (other than ordinary cash dividends)
        or other distribution (whether in the form of cash, Shares or other securities, but other than ordinary cash distributions made in lieu of ordinary cash dividends), recapitalization, share split (share subdivision), reverse share split (share
        consolidation), reorganization, merger, amalgamation, consolidation, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to acquire Shares or other securities of
        the Company, or other similar corporate transaction or event affecting the Shares (but not, for avoidance of doubt, a mere issuance or repurchase of Shares or other securities in exchange for value, including, without limitation, issuance of shares
        as compensation for services), or of changes in applicable laws, regulations or accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under
        the Plan, then the Committee shall, subject to Section 17, adjust equitably any or all of:

     

      

    
      
        (i)          the number and type of Shares (or other securities) which thereafter may be made the subject of Awards;

      

    

    
      
         

        

        (ii)         the number and type of Shares (or other securities) subject to outstanding Awards;

      

    

    
      
         

        

        (iii)        the grant, acquisition, exercise price with respect to any Award or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; and

      

    

    
      
         

        

        (iv)        the terms and conditions of any outstanding Awards, including the performance criteria of any Performance Awards;

          

        

      

    

    provided, however, that the number of Shares subject to any Award denominated in Shares
        shall always be a whole number.

     

      

    (d)          Any Shares delivered pursuant to an Award may consist, in whole or in part, of
        Shares issued out of the Company’s conditional or authorized share capital or otherwise, or Shares acquired by the Company and/or held as treasury shares. In its sole discretion, the Company or any of its Subsidiaries or any person appointed by any
        of them may, in its own name or in the name of a Participant and on behalf of a Participant, subscribe to Shares, pay in the issue price and do any other action to create the Shares or direct the Participant to do so. Any Shares delivered pursuant
        to an Award shall be issued as fully paid shares, and the exercise price and/or subscription price per Share pursuant to any Award, if applicable, shall always be at least equal to or greater than the par value per Share. A Participant shall not
        have any rights as a shareholder of the Company (including as to voting and dividends) until Shares are actually settled and delivered to the Participant and upon entry of the Participant into the share register of the Company as shareholder of
        such Shares with voting rights.

    
      
        

    

     Section 5.  Restricted Shares and RSUs.  The Committee
        is authorized to grant Awards of Restricted Shares and RSUs to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee
        shall determine.

     

      

    (a)          The applicable Award Document shall specify the vesting schedule and, with respect
        to RSUs, the delivery schedule (which may include deferred delivery later than the vesting date) and whether the Award of Restricted Shares or RSUs is entitled to dividends or dividend equivalents, voting rights or any other rights.

     

      

    (b)          Restricted Shares and RSUs shall be subject to such restrictions as the Committee
        may impose (including any limitation on the right to vote Restricted Shares or the right to receive any dividend, dividend equivalent or other right), which restrictions may lapse separately or in combination at such time or times, in such
        installments or otherwise, as the Committee may deem appropriate. Without limiting the generality of the foregoing, if the Award relates to Shares on which dividends are declared during the period that the Award is outstanding, the Award shall not
        provide for the payment of such dividend (or a dividend equivalent) to the Participant prior to the time at which such Award, or applicable portion thereof, becomes nonforfeitable, unless required by applicable law, or otherwise provided in the
        applicable Award Document.

     

      

    (c)          Any Restricted Shares granted under the Plan may be evidenced in such manner as the
        Committee may deem appropriate.

     

      

    (d)          The Committee may determine the methods by which, and the forms in which payment of
        the amount owing upon settlement of any RSU Award may be made, including cash, Shares, other Awards, other property or any combination thereof (having a Fair Market Value on the settlement date equal to the relevant payment).

     

      

    Section 6.  Options.  The Committee is authorized to
        grant Options to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine.

     

      

    (a)          The exercise price per Share under an Option shall be determined by the Committee; provided, however, that, except in the case of Replacement Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of
        such Option.

     

      

    (b)          The term of each Option shall be fixed by the Committee but shall not exceed 10
        years from the date of grant of such Option.

     

      

    (c)          The Committee shall determine the time or times at which an Option may be exercised
        in whole or in part.

    
      
        

    

    (d)          The Committee shall determine the methods by which, and the forms in which payment
        of the exercise price with respect thereto may be made or deemed to have been made, including cash, Shares, other Awards, other property, net settlement (including cashless exercise) or any combination thereof, having a Fair Market Value on the
        exercise date equal to the relevant exercise price.

     

      

    (e)          To the extent an Option is not previously exercised as to all of the Shares subject
        thereto, and, if the Fair Market Value of one Share is greater than the exercise price then in effect, then the Option shall be deemed automatically exercised by a cashless exercise net settlement, immediately before its expiration, unless the
        Participant has given instruction as to the contrary.

     

      

    (f)          The Committee shall determine the conditions, if any, to vesting of Options granted
        under the Plan, including without limitation any service- or performance-based conditions to vesting of the Option.

     

      

    (g)          No Option will be eligible for the payment of dividends or dividend equivalents, to
        the extent such Option is subject to Section 409A or 457A of the Code.

     

      

    Section 7.  Share Appreciation Rights.  The Committee
        is authorized to grant SARs to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine.

     

      

    (a)          SARs may be granted under the Plan to Participants either alone (“freestanding”) or
        in addition to other Awards granted under the Plan (“tandem”).

     

      

    (b)          The exercise price per Share under a SAR shall be determined by the Committee; provided, however, that, except in the case of Replacement Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such SAR (or if granted in connection with
        an Option, on the grant date of such Option).

     

      

    (c)          The term of each SAR shall be fixed by the Committee but shall not exceed 10 years
        from the date of grant of such SAR.

     

      

    (d)          The Committee shall determine the time or times at which a SAR may be exercised or
        settled in whole or in part.

     

      

    (e)          To the extent a SAR is not previously exercised as to all of the Shares subject
        thereto, and, if the Fair Market Value of one Share is greater than the exercise price then in effect, then the SAR shall be deemed automatically exercised immediately before its expiration.

    
      
        

    

     (f)          Upon the exercise of a SAR, the Company shall pay to the Participant an amount
        equal to the number of Shares subject to the SAR multiplied by the excess, if any, of the Fair Market Value of one Share on the exercise date over the exercise price of such SAR.  The Company shall pay such excess in cash, in Shares valued at Fair
        Market Value, or any combination thereof, as determined by the Committee.

     

      

    (g)          No SAR will be eligible for the payment of dividends or dividend equivalents, to the
        extent such SAR is subject to Section 409A or 457A of the Code.

     

      

    Section 8.  Performance Awards.  The Committee is
        authorized to grant Performance Awards to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine.

     

      

    (a)          Performance Awards may be denominated as a cash amount, a number
        of Shares or a combination thereof and are Awards which may be earned upon achievement or satisfaction of performance conditions specified by the Committee. In addition, the Committee may specify that any other Award shall constitute a Performance
        Award by conditioning the right of a Participant to exercise the Award or have it settled, and the timing thereof, upon achievement or satisfaction of such performance conditions as may be specified by the Committee. The Committee may use such
        business criteria and other measures of performance as it may deem appropriate in establishing any performance conditions. Subject to the terms of the Plan, the performance goals to be achieved during any Performance Period, the length of any
        Performance Period, the amount of any Performance Award granted and the amount of any payment or transfer to be made pursuant to any Performance Award shall be determined by the Committee.  Unless otherwise determined by the Committee, if the
        Performance Award relates to Shares on which dividends are declared during the Performance Period, the Performance Award shall not provide for the payment of such dividend (or dividend equivalent) to the Participant prior to the time at which such
        Performance Award, or the applicable portion thereof, is earned.

     

      

    (b)          Performance criteria may be measured on an absolute (e.g., plan or budget) or relative basis, and may be established on a corporate-wide basis, with respect to one or more business units, divisions, Subsidiaries or business segments, or on an individual basis.  Relative performance
        may be measured against a group of peer companies, a financial market index or other acceptable objective and quantifiable indices.  If the Committee determines that a change in the business, operations, corporate structure or capital structure of
        the Company, or the manner in which the Company conducts its business, or other events or circumstances render the performance objectives unsuitable, the Committee may modify the minimum acceptable level of achievement, in whole or in part, as the
        Committee deems appropriate and equitable. Performance objectives may be adjusted for material items not originally contemplated in establishing the performance target for items resulting from discontinued operations, extraordinary gains and
        losses, the effect of changes in accounting standards or principles, acquisitions or divestitures, changes in tax rules or regulations, capital transactions, restructuring, nonrecurring gains or losses or unusual items. Performance measures may
        vary from Performance Award to Performance Award, and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative. The Committee shall have the power to impose such other restrictions on Awards
        subject to this Section 8(b) as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements of any applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations.

     

      

    (c)          Settlement of Performance Awards; Other Terms.
        Settlement of Performance Awards shall be in cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined in the discretion of the Committee. Subject to Section 10, Performance Awards will be settled only
        after the end of the relevant Performance Period. The Committee may, in its discretion, increase or reduce the amount of a settlement otherwise to be made in connection with a Performance Award.

    
      
        

    

    Section 9.  Other Share-Based Awards.  The Committee is
        authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares or factors that may
        influence the value of Shares, including convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, acquisition rights for Shares, Awards with value and payment contingent upon performance of the Company or
        business units thereof or any other factors designated by the Committee.  The Committee shall determine the terms and conditions of such Awards.

     

      

    Section 10.  Effect of Termination of Service or a Change in Control on
        Awards.

     

      

    (a)          The Committee may provide in any Award Document the circumstances in which, and the
        extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of a Participant’s Termination of Service prior to the vesting, exercise or settlement of such Award or the end of a Performance Period.

     

      

    (b)          Unless otherwise provided in an Award Document, in the event of a Change in Control
        involving a merger, acquisition or other corporate transaction, any Award that (i) is not assumed, substituted, replaced or continued in connection with such Change in Control; (ii) is substituted or replaced in connection with such Change in
        Control, but with an award that does not include substantially the same terms as the substituted or replaced award, including, without limitation, terms with respect to vesting and acceleration of vesting; or (iii) is assumed, substituted, replaced
        or continued in connection with such Change in Control, but with an award providing for rights with respect to securities that are not publicly traded on an established stock exchange or national market system (provided that this clause (iii) shall
        not apply in the event of a Change in Control that occurs at a time when the Company is not Publicly Listed), shall, to the extent permissible under applicable law, vest and settle in full (with respect to Performance Awards, assuming achievement
        of performance criteria at target level), and, with respect to Options and SARs, shall become fully exercisable, in each case as of the effective date of the Change in Control, or, if so determined by the Committee in its discretion, within a
        reasonable number of days prior to such effective date.

     

      

    (c)          Unless otherwise provided in an Award Document or Committee determination pursuant
        to Section 10(a), (b) or (d) and to the extent permissible under applicable law, in the event that the Company or a successor or Affiliate terminates a Participant’s employment without Cause, or the Participant terminates his or her employment for
        Good Reason, in each case such that the Participant experiences a Termination of Service upon or during the 18-month-period following a Change in Control, notwithstanding any provision of the Plan to the contrary, all of such Participant’s
        outstanding Awards shall immediately vest and settle in full (with respect to Performance Awards, assuming achievement of performance criteria at target level), and, with respect to Options and SARs shall become fully exercisable, in each case as
        of the date of the Participant’s Termination of Service.

     

      

    (d)          In the event of a Change in Control, notwithstanding anything to the contrary in the
        Plan or the applicable Award Document, the Committee, in its sole discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such Change in Control, may take
        any one or more of the following actions whenever the Committee determines that such action is appropriate or desirable in order to prevent the dilution or enlargement of the benefits intended to be made available under the Plan or to facilitate
        the Change in Control transaction:

     

      

    
      
        (i)          to cancel any outstanding Award in exchange for a payment in cash, securities or other property or any combination thereof, with a value equal to the value of such Award based
          on the per share value of Common Stock received or to be received by other shareholders in the event (and, for the avoidance of doubt, if as of the date of the Change in Control, the Committee determines that no amount would have been realized
          upon the exercise of the Award or other realization of the Participant’s rights, then the Award may be cancelled by the Company without payment of consideration);

      

    

    
      
         

        

        (ii)         to require the exercise of any Option not exercised by the Participant;

      

    

    
      
        
          
            

        

        (iii)        to provide for the assumption, substitution, replacement or continuation of any Award by the successor or surviving corporation (or a parent or Subsidiary thereof) with cash,
          securities, rights or other property to be paid or issued, as the case may be, by the successor or surviving corporation (or a parent or Subsidiary thereof), and to provide for appropriate adjustments with respect to the number and type of
          securities (or other consideration) of the successor or surviving corporation (or a parent or Subsidiary thereof), subject to any replacement awards, the terms and conditions of the replacement awards (including, without limitation, any
          applicable performance targets or criteria with respect thereto) and the grant, exercise or purchase price per share for the replacement awards;

      

    

    
      
        

        

        (iv)        to make any other adjustments in the number and type of securities (or other consideration) subject to (a) outstanding Awards and in the terms and conditions of outstanding
          Awards (including the grant or exercise price and performance criteria with respect thereto) in order to prevent the dilution or enlargement of the benefits intended to be made available under the Plan and (b) Awards that may be granted in the
          future;

      

    

    
      
        

        

        (v)          to provide that any Award shall be accelerated and become exercisable, payable and/or fully vested with respect to all Shares covered thereby; and

      

    

    
      
        

        

        (vi)         to provide that any Award shall not vest, be exercised or become payable as a result of such event.

         

        

      

    

    (e)          By accepting an Award, each Participant gives a power of attorney to the Company to
        exercise, sell, assign or otherwise dispose of on behalf of the Participant such Participant’s Awards or of the Shares acquired upon the exercise of Options or settlement of Awards, in order to comply with and give full force and effect to the
        provisions of this Section 10, including, without limitation, the sale in a Change of Control transaction.

     

      

    Section 11.  General Provisions Applicable to Awards.

     

      

    (a)          Awards shall be granted for no cash consideration or for such minimal cash
        consideration as may be required by applicable law.

     

      

    (b)          Awards may, in the discretion of the Committee, be granted either alone or in
        addition to or in tandem with any other Award or any award granted under any other plan of the Company. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under any other plan of the
        Company, may be granted either at the same time as or at a different time from the grant of such other Awards or awards.

     

      

    (c)          Subject to the terms of the Plan and Section 17, payments or transfers to be made by
        the Company upon the grant, exercise or settlement of an Award may be made in the form of cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined by the Committee in its discretion, and may be made in a
        single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include provisions for the payment or crediting of reasonable
        interest on installment or deferred payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments.

     

      

    (d)          Except as may be permitted by the Committee or as specifically provided in an Award
        Document, (i) no Award and no right under any Award shall be assignable, alienable, saleable or transferable by a Participant otherwise than by will or pursuant to Section 11(e) and (ii) during a Participant’s lifetime, each Award, and each right
        under any Award, shall be exercisable only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative.  The provisions of this Section 11(d) shall not apply to any Award that has been fully
        exercised or settled, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof.

    
      
        

    

    (e)          A Participant may designate a Beneficiary or change a previous Beneficiary
        designation at such times prescribed by the Committee by using forms and following procedures approved or accepted by the Committee for that purpose.

     

      

    (f)          All certificates, if any, for Shares, and/or other securities delivered under the
        Plan pursuant to any Award or the exercise or settlement thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations and other requirements of the
        Securities and Exchange Commission, as applicable, any stock market or exchange upon which such Shares or other securities are then quoted, traded or listed, and any applicable securities laws, and the Committee may cause a legend or legends to be
        put on any such certificates to make appropriate reference to such restrictions.

     

      

    (g)          Without limiting the generality of Section 11(h), the Committee may specify in an
        Award Document that the Participant’s rights, payments or benefits with respect to an Award are subject to restrictions with respect to noncompetition, confidentiality and other restrictive covenants, or requirements to comply with minimum share
        ownership requirements, as it deems necessary or appropriate in its sole discretion.

     

      

    (h)          The Committee may specify in an Award Document that the Participant’s rights,
        payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an
        Award.  Such events may include (i) a Termination of Service with Cause (and, in the case of any Cause that is resulting from an indictment or other non-final determination, the Committee may provide for such Award to be held in escrow or abeyance
        until a final resolution of the matters related to such event occurs, at which time the Award shall either be reduced, cancelled or forfeited (as provided in such Award Document) or remain in effect, depending on the outcome), (ii) violation of
        material policies, (iii) voluntary termination of employment by the Participant, (iv) other termination of the Participant’s employment as a “bad leaver,” (v) breach of noncompetition, confidentiality or other restrictive covenants that may apply
        to the Participant, or (vi) other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates; provided, however that, no such reduction, cancelation, forfeiture of recoupment of an Award
      for any of the reasons set forth in clauses (ii) through (vi) above, for a Participant who is an executive officer or director of the Company, shall be effective unless and until the
        Participant has been given a reasonable opportunity to discuss the basis for termination with the Chair of the Committee.

     

      

    (i)          Rights, payments and benefits under any Award shall be subject to repayment to or
        recoupment (“clawback”) by the Company in accordance with such policies and procedures as the Committee or Board may adopt from time to time, but only to the extent that (i) such policies or procedures (A) are necessary to implement applicable law,
        stock market or exchange rules and regulations or accounting or tax rules and regulations or (B) with respect to an Award, apply in the case of termination of the Participant’s employment for Cause or (ii) the Committee otherwise determines in its
        reasonable discretion that such a clawback is necessary to satisfy one or more fiduciary obligations to the Company of the Committee or the members thereof.

    
      
        

    

    Section 12.  Amendments and Termination.

     

      

    (a)          Except to the extent prohibited by applicable law and unless otherwise expressly
        provided in an Award Document or in the Plan, the Board may amend, alter, suspend, discontinue or terminate the Plan or any portion thereof at any time; provided, however, that no such amendment,
        alteration, suspension, discontinuation or termination shall be made without (i) shareholder approval, if such approval is required by applicable law or the rules of the stock market or exchange, if any, on which the Shares are principally quoted
        or traded or (ii) the consent of the affected Participant, if such action would materially adversely affect the rights of such Participant under any outstanding Award, except to the extent any such amendment, alteration, suspension, discontinuance
        or termination is made to cause the Plan to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations, or to impose any recoupment provisions on any Awards in accordance with Section
        11(i), or such affected Participant is appropriately compensated by grants of other Awards or cash payments, to the extent that such compensation is not prohibited by Section 409A or Section 457A of the Code as applicable to Participants subject to
        income taxation in the United States. Notwithstanding anything to the contrary in the Plan, the Committee may amend the Plan or any Award Document in such manner as may be necessary or desirable to enable the Plan or such Award Document to achieve
        its stated purposes in any jurisdiction in a tax‐efficient manner and in compliance with local laws, rules and regulations to recognize differences in local law, tax policy or custom. The Committee also may impose conditions on the exercise or
        vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization for Participants on assignments outside their home country.

     

      

    (b)          The Committee may waive any conditions or rights under, amend any terms of, or
        amend, alter, suspend, discontinue or terminate any Award theretofore granted, prospectively or retroactively, without the consent of any relevant Participant or holder or Beneficiary of an Award; provided,
          however, that, subject to Section 4(c) and Section 11(c), no such action shall materially adversely affect the rights of any affected Participant or holder or Beneficiary under any Award theretofore granted under the Plan, except to the
        extent that (i) any such action is made (A) to cause the Plan to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations, (B) to impose any recoupment provisions on any Awards in
        accordance with Section 11(i) or (C) made with the consent of the affected Participant; or (ii) the affected Participant is appropriately compensated by grants of other Awards or cash payments for any such adverse effect, to the extent that such
        compensation is not prohibited by Section 409A or Section 457A of the Code as applicable to Participants subject to income taxation in the United States.

     

      

    (c)          Except as provided in Section 8(b), the Committee shall be authorized to make
        adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of events (including the events described in Section 4(c)) affecting the Company, or the financial statements of the Company, or of changes in
        applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or
        potential benefits intended to be made available under the Plan.

     

      

    (d)          The Committee may correct any defect, supply any omission or reconcile any
        inconsistency in the Plan or any Award in the manner and to the extent it shall deem desirable to carry the Plan into effect.

     

      

    Section 13. Option and SAR Repricing.  The Committee
        may seek to effect any re-pricing of any previously granted “underwater” Option or SAR by: (i) amending or modifying the terms of the Option or SAR to lower the exercise price; (ii) cancelling the underwater Option or SAR and granting either
        (A) replacement Options or SARs having a lower exercise price or (B) Restricted Shares, RSU, Performance Award or Other Share-Based Award in exchange; or (iii) cancelling or repurchasing the underwater Options or SARs for cash or other securities. 
        An Option or SAR will be deemed to be “underwater” at any time when the Fair Market Value of the Shares covered by such Award is less than the exercise price of the Award.

    
      
        

    

    Section 14.  Miscellaneous.

     

      

    (a)          No employee, Participant or other person shall have any claim to be granted any
        Award under the Plan, and there is no obligation for uniformity of treatment of employees, Participants or holders or Beneficiaries of Awards under the Plan.  The terms and conditions of Awards need not be the same with respect to each recipient,
        including as necessary or desirable to recognize differences in local law, tax policy or custom.  Any Award granted under the Plan shall be a one-time Award that does not constitute a promise of future grants.  The Company, in its sole discretion,
        maintains the right to make available future grants under the Plan.

     

      

    (b)          No payment pursuant to the Plan shall be taken into account in determining any
        benefits under any severance, pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Affiliate, except to the extent otherwise expressly provided in writing in such other plan or an
        agreement thereunder.

     

      

    (c)          The grant of an Award shall not be construed as giving a Participant the right to be
        retained in the employ of, or to continue to provide services to, the Company or any Affiliate.  Further, the Company or the applicable Affiliate may at any time dismiss a Participant, free from any liability, or any claim under the Plan, unless
        otherwise expressly provided in the Plan or in any Award Document or in any other agreement binding the parties.  The receipt of any Award under the Plan is not intended to confer any rights on the receiving Participant except as set forth in the
        applicable Award Document.

     

      

    (d)          Nothing contained in the Plan shall prevent the Company from adopting or continuing
        in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases.

     

      

    (e)          The Company shall be authorized to withhold from any Award granted or any payment
        due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other Awards, other property, net settlement or any combination thereof) of applicable withholding
        taxes, duties or social security for which the Participant is ultimately liable  in respect of an Award, its exercise or settlement or any payment or transfer under such Award or under the Plan and to take such other action (including providing for
        elective payment of such amounts in cash or Shares by the Participant, forfeiting outstanding Awards, or selling on behalf of the Participant any of the Shares to which he or she is entitled under any Award and retain the sale proceeds) as may be
        necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes, duties and social security. Each Participant shall be responsible for the necessary declarations required under applicable tax laws. The Company and
        its Affiliates shall have the right to notify the tax authorities of the grant, vesting and settlement of any Award and the exercise of any Option if so required by law.

     

      

    (f)          If any provision of the Plan or any Award Document is or becomes or is deemed to be
        invalid, illegal or unenforceable in any jurisdiction, or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to
        applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award Document, such provision shall be stricken as to such jurisdiction, person or
        Award, and the remainder of the Plan and any such Award Document shall remain in full force and effect.

    
      
        

    

    (g)          No Shares shall be issued pursuant to the Plan in the event the Company determines
        that: (i) it and the Participant have not taken all actions required to register the Shares under the Securities Act and any other applicable securities laws, as may be applicable in the event the Shares are Publicly Listed and there is no
        exemption from such registration under applicable law; (ii) an applicable listing requirement of any stock exchange on which the Company is listed has not been satisfied; or (iii) another applicable provision of law has not been satisfied.

     

      

    (h)          Each Award Document shall provide that no Shares shall be purchased or sold
        thereunder unless and until (a) any then applicable requirements of any state or federal laws and regulatory agencies in any applicable country have been fully complied as required with to the satisfaction of the Company and its counsel and (b) if
        required to do so by the Company, the Participant has executed and delivered to the Company a letter of investment intent in such form and containing such provisions as the Committee may require. The Company shall use reasonable efforts to seek to
        obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Awards and to issue and sell Shares upon exercise of the Awards; provided, however,
        that this undertaking shall not require the Company to register under the Securities Act the Plan, any Award or any Shares issued or issuable pursuant to any such Award. If, after reasonable efforts, the Company is unable to obtain from any such
        regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Shares under the Plan, the Company shall be relieved from any liability for failure to issue and sell Shares upon
        exercise of such Awards unless and until such authority is obtained.

     

      

    (i)          Neither the Plan nor any Award shall create or be construed to create a trust or
        separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the extent that any person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no
        greater than the right of any unsecured general creditor of the Company.

     

      

    (j)          No fractional Shares shall be issued or delivered pursuant to the Plan or any Award,
        and the Committee shall determine whether cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise eliminated.

     

      

    (k)          The Committee may determine that any Award must be held in a restricted depository
        account as designated by the Committee.

     

      

    Section 15.  Effective Date of the Plan.  The Plan is
        initially effective as of December 5, 2019. The Plan as amended and restated herein is effective as of April 15, 2020.

     

      

    Section 16.  Term of the Plan.  No Award shall be
        granted under the Plan after the earliest to occur of (i) the tenth anniversary of the effectiveness of the Plan (the “Plan Expiration Date”); provided that to the
        extent permitted by the listing rules of any stock exchanges on which the Company is listed, such Plan Expiration Date may be extended indefinitely so long as the maximum number of Shares available for issuance under the Plan have not been issued,
        (ii) the maximum number of Shares available for issuance under the Plan have been issued or (iii) the Board terminates the Plan in accordance with Section 12(a).  However, unless otherwise expressly provided in the Plan or in an applicable Award
        Document, any Award theretofore granted may extend beyond such date, and the authority of the Committee to amend, alter, adjust, suspend, discontinue or terminate any such Award, or to waive any conditions or rights under any such Award, and the
        authority of the Board to amend the Plan, shall extend beyond such date.

    
      
        

    

    Section 17.  Sections 409A and 457A of the Code.

     

        

    (a)          With respect to Awards made to Participants who are subject to taxation in the
        United States, including under Section 409A and 457A of the Code, the Plan is intended to comply with the requirements of Section 409A and 457A of the Code, and the provisions of the Plan and any Award Document shall be interpreted in a manner that
        satisfies the requirements of Section 409A and 457A of the Code, and the Plan shall be operated accordingly. If any provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision,
        term or condition will be interpreted and deemed amended so as to avoid this conflict.  If an amount payable under an Award as a result of the Participant’s Termination of Service (other than due to death) occurring while the Participant is a
        “specified employee” under Section 409A of the Code constitutes a deferral of compensation subject to Section 409A of the Code, then payment of such amount shall not occur until six months and one day after the date of the Participant’s Termination
        of Service, except as permitted under Section 409A of the Code.  If the Award includes a “series of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s right to the series of
        installment payments shall be treated as a right to a series of separate payments and not as a right to a single payment, and if the Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of the Treasury Regulations), the
        Participant’s right to the dividend equivalents shall be treated separately from the right to other amounts under the Award.  Notwithstanding the foregoing, the tax treatment of the benefits provided under the Plan or any Award Document is not
        warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A and 457A of the
        Code.

     

      

    (b)          Notwithstanding any provision of the Plan to the contrary or any Award Document, in
        the event the Committee determines that any Award may be subject to Section 409A or Section 457A of the Code, the Committee may adopt such amendments to the Plan and the applicable Award Document or adopt other policies and procedures (including
        amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from Section 409A or Section 457A of the Code and/or preserve the intended
        tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A or Section 457A and thereby avoid the application of any adverse tax consequences under such Sections.

     

      

    (c)          Notwithstanding any provision of the Plan to the contrary or any Award Document, a
        termination of employment shall not deemed to have occurred for purposes of any provision of an Award that is subject to Section 409A providing for payment upon or following a termination of a Participant’s employment unless such termination is
        also a “separation from service” and, for purposes of any such provision of such Award, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”

     

      

    Section 18. Data Protection.  The Company holds and
        processes personal information provided by the Participant, such as name, date of birth, account information, social security number, tax number and contact information, and uses the Participant’s personal data within the Company’s legitimate
        business purposes and as necessary for all purposes relating to the operation and performance of the Plan. These are:

     

      

    (i)           administering and maintaining Participant records;

     

      

    (ii)          providing the services described in the Plan;

    
      
        

    

    (iii)         providing information to future purchasers or merger partners of the Company or
        any Affiliate, or the business in which the Participant works; and

     

      

    (iv)         responding to public authorities, court orders and legal investigations, as
        applicable.

     

    

    Where required under applicable law, the Company relies on the legal basis of the operation and performance of the Plan and on legitimate interests.

     

    

    The Company may share the Participant’s personal data with (i) Affiliates, (ii) trustees of any employee benefit trust, (iii) registrars, (iv) brokers, (v) third party
      administrators of the Plan or (vi) regulators and others, as required by law.

     

    

    If necessary, the Company may transfer the Participant’s personal data to any of the parties mentioned above in any country or territory that may not provide the same
      protection for the information as the Participant’s home country. Any transfer of the Participant’s personal data from the E.U. to a third country is subject to appropriate safeguards in the form of EU standard contractual clauses (according to
      decisions 2001/497/EC, 2004/915/EC, 2010/87/EU) or applicable derogations provided for under applicable law.

     

    

    The Company will keep personal information for as long as necessary to operate the Plan or as necessary to comply with any legal or regulatory requirements.

     

    

    The Participant has a right to (i) request access to and rectification or erasure of the personal data provided, (ii) request the restriction of the processing of his or her
      personal data, (iii) object to the processing of his or her personal data, (iv) receive the personal data provided to the Company and transmit such data to another party, and (v) to lodge a complaint with a supervisory authority.

     

      

    Section 19.  Governing Law.  The formation, existence,
        construction, performance, validity and all aspects whatsoever of this Plan and of each Award Document and any Award granted thereunder, including any rights and obligations arising out of or in connection with the same, shall be governed by, and
        construed in accordance with, the substantive laws of Switzerland (with the exception of the conflict of law rules). The exclusive place of jurisdiction for any dispute arising out of or in connection with this Plan or any Award Document and any
        Award granted thereunder shall be Epalinges, Switzerland.

     

      

    Section 20.  Definitions.  As used in the Plan, the
        following terms shall have the meanings set forth below:

     

      

    (a)          “Affiliate” means (i) any entity that,
        directly or indirectly, is controlled by the Company, (ii) any entity in which the Company, directly or indirectly, has a significant equity interest, in each case as determined by the Committee and (iii) any other entity which the Committee
        determines should be treated as an “Affiliate.”

     

      

    (b)          “Award” means any Option, SAR, Restricted
        Share, RSU, Performance Award or Other Share-Based Award granted under the Plan.

    
      
        

    

    (c)          “Award Document” means any agreement,
        contract or other instrument or document, which may be in electronic format, evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a Participant.

     

      

    (d)          “Beneficiary” means a person entitled to
        receive payments or other benefits or exercise rights that are available under the Plan in the event of the Participant’s death. If no such person is named by a Participant, or if no Beneficiary designated by the Participant is eligible to receive
        payments or other benefits or exercise rights that are available under the Plan at the Participant’s death, such Participant’s Beneficiary shall be such Participant’s estate.

     

      

    (e)          “Board” means the board of directors of the
        Company.

     

      

    (f)          “Cause” means, with respect to any
        Participant, “cause” as defined in such Participant’s employment agreement with the Company, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document, such Participant’s:

     

      

    (i)          indictment for any crime (A) constituting a felony, or
        (B) that has, or could reasonably be expected to result in, an adverse impact on the performance of a Participant’s duties to the Company or any of its Subsidiaries, or otherwise has, or could reasonably be expected to result in, an adverse impact
        to the business or reputation of the Company or any of its Subsidiaries;

     

      

    (ii)          having been the subject of any order, judicial or
        administrative, obtained or issued by any securities law regulator (including the U.S. Securities and Exchange Commission) or criminal law enforcement authority, for any securities violation involving fraud, including, for example, any such order
        consented to by the Participant in which findings of facts or any legal conclusions establishing liability are neither admitted nor denied;

     

      

    (iii)        conduct, in connection with his or her employment or
        service, which is not taken in good faith and has, or could reasonably be expected to result in, material injury to the business or reputation of the Company or any of its Subsidiaries;

     

      

    (iv)         willful violation of the Company’s code of conduct or
        other material policies set forth in the manuals or statements of policy of the Company or any of its Subsidiaries;

     

      

    (v)          willful neglect in the performance of a Participant’s
        duties for the Company or any of its Subsidiaries or willful or repeated failure or refusal to perform such duties; or

     

      

    (vi)         material breach of any applicable employment agreement or
        other agreement with the Company or, if applicable, any other reason or event that qualifies as a valid reason as defined in article 337 of the Swiss Code of Obligations.

     

      

    The occurrence of any such event described in clauses (ii) through (vi) that is susceptible to cure or remedy shall not constitute Cause if such Participant cures or remedies
      such event within 30 days after the Company provides notice to such Participant.

     

    

    Any determination by the Company or any Subsidiary that the Termination of Service of the Participant was made for Cause (or without Cause) for the purposes of outstanding
      Awards held by such Participant shall not be determined by, and shall not be prejudicial or effective regarding, any determination of the rights or obligations of the Company, any Subsidiary or the Participant for any other purpose.

    
      
        

    

    (g)          “Change in Control” means the occurrence of
        any one or more of the following events:

     

      

    (i)          a direct or indirect change in ownership or control of the
        Company effected through one transaction or a series of related transactions within a 12-month period, whereby any Person (or a group of Persons acting in concert) other than the Company, directly or indirectly acquires or maintains beneficial
        ownership of securities of the Company constituting more than 50% of the total combined voting power of the Company’s equity securities issued and outstanding immediately after such acquisition;

     

      

    (ii)         at any time during a period of 24 consecutive months,
        individuals who at the beginning of such period constituted the Board cease for any reason to constitute a majority of members of the Board; provided, however, that any new member of the Board whose
        election or nomination for election was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of such period or whose election or
        nomination for election was so approved, shall be considered as though such individual were a member of the Board at the beginning of the period, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a
        result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

     

      

    (iii)        the consummation of a merger, amalgamation or
        consolidation of the Company or any of its Subsidiaries with any other corporation or entity, other than a merger, amalgamation or consolidation which would result in the voting securities of the Company issued and outstanding immediately prior to
        such merger, amalgamation or consolidation continuing to represent (either by remaining issued and outstanding or being converted into voting securities of the surviving entity or, if applicable, the ultimate parent thereof) at least 50% of the
        combined voting power and total Fair Market Value of the securities of the Company or such surviving entity or parent issued and outstanding immediately after such merger, amalgamation or consolidation; or

     

      

    (iv)        the consummation of any sale, lease, exchange, or other
        transfer or disposition (including by way of a carve-out or spin-off transaction) to any Person (other than an Affiliate of the Company), in one transaction or a series of related transactions within a 12-month period, of all or substantially all
        of the assets of the Company and its Subsidiaries.

    
      
        

    

    Notwithstanding the foregoing or any provision of any Award Document to the contrary, for any Award to which Section 17 applies that provides for accelerated distribution on a Change in Control
      of amounts that constitute “deferred compensation” (as defined in Section 409A and 457A of the Code), if the event that constitutes such Change in Control does not also constitute a change in the ownership or effective control of the Company, or in
      the ownership of a substantial portion of the Company’s assets (in either case, as defined in Section 409A and 457A of the Code), such amount shall not be distributed on such Change in Control but instead shall vest as of the date of such Change in
      Control and shall be paid on the scheduled payment date specified in the applicable Award Document, except to the extent that earlier distribution would not result in the Participant who holds such Award incurring any additional tax, penalty,
      interest or other expense under Section 409A and 457A of the Code.

     

    

    (h)          “Code” means the U.S. Internal Revenue Code
        of 1986, as amended from time to time, and the rules, regulations and guidance thereunder. Any reference to a provision in the Code shall include any successor provision thereto.

     

      

    (i)          “Committee” means the Compensation Committee
        of the Board or such other committee as may be designated by the Board, or, at the Board’s discretion with respect to any action, references herein to the “Committee” shall refer to the Board.

     

      

    (j)          “Disability” means, with respect to any
        Participant, “disability” or the state of being “disabled” as defined in such Participant’s employment agreement with the Company, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document: (i) the
        Participant’s disability for purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which the Participant participates; or (ii) the Participant’s inability, due to physical or mental incapacity, to
        perform the essential functions of his or her job, with reasonable accommodation, that endures, or is reasonably expected to endure, for 180 days in any 365-day period.

     

      

    (k)          “Exchange Act” means the U.S. Securities
        Exchange Act of 1934, as amended from time to time, and the rules, regulations and guidance thereunder.  Any reference to a provision in the Exchange Act shall include any successor provision thereto.

     

      

    (l)           “Fair Market Value” means (i) with respect
        to a Share, the closing price of a Share on the date in question (or, if there is no reported sale on such date, on the last preceding date on which any reported sale occurred) on the principal stock market or exchange on which the Shares are
        quoted or traded, or if Shares are not so quoted or traded, the fair market value of a Share as determined by the Committee, and (ii) with respect to any property other than Shares, the fair market value of such property determined by such methods
        or procedures as shall be established from time to time by the Committee.

    
      
        

    

    (m)         “Good Reason” means, with respect to any
        Participant, “good reason” as defined in such Participant’s employment agreement with the Company, if any, or if not so defined, except as otherwise provided in such Participant’s Award Document, the occurrence of any of the following, in each case
        without the Participant’s written consent:

     

      

    
      
        (i)          a material, adverse change in the Participant’s base salary or aggregate annual bonus opportunity, other than a general reduction that affects all similarly situated employees
          in substantially the same proportions; or

         

        

      

    

    
      
        (ii)         a material, adverse change in the Participant’s authority, duties, or responsibilities (other than temporarily while the Participant is physically or mentally incapacitated or
          as required by applicable law).

         

        

      

    

    The Participant cannot terminate his or her employment for Good Reason unless he or she has provided written notice to the Company of the existence of the circumstances providing grounds for
      termination for Good Reason within 60 days of the initial existence of such grounds and the Company has had at least 30 days from the date on which such notice is provided to cure such circumstances. If the Participant does not terminate his or her
      employment for Good Reason within 90 days after the first occurrence of the applicable grounds, then the Participant will be deemed to have waived his or her right to terminate for Good Reason with respect to such grounds.

     

    

    (n)          “Non-Employee Director” means a member of
        the Board who is not an employee of the Company or an Affiliate.

     

      

    (o)          “Option” means an option representing the
        right to acquire Shares from the Company, granted in accordance with the provisions of Section 6.

     

      

    (p)          “Other Share-Based Award” means an Award
        granted in accordance with the provisions of Section 9.

     

      

    (q)          “Participant” means the recipient of an
        Award granted under the Plan.

     

      

    (r)          “Performance Award” means an Award granted
        in accordance with the provisions of Section 8.

     

      

    (s)          “Performance Period” means the period
        established by the Committee at the time any Performance Award is granted or at any time thereafter during which any performance goals specified by the Committee with respect to such Award are measured.

    
      
        

    

    (t)          “Person” means a natural person or a
        partnership, company, association, cooperative, mutual insurance society, foundation or any other body which operates externally as an independent unit or organisation.

     

      

    (u)          “Publicly Listed” means, with respect to a
        security, that such security is publicly traded on an established stock exchange or national market system; and, with respect to an entity, that such entity is the issuer of a security that is Publicly Listed.

     

      

    (v)          “Replacement Award” means an Award granted
        in assumption of, or in substitution for, an outstanding award previously granted by a company or business acquired by the Company or with which the Company, directly or indirectly, combines (whether by way of amalgamation, merger, sale and
        purchase of shares or other securities or otherwise).

     

      

    (w)         “Restricted Share” means any Share granted
        in accordance with the provisions of Section 5.

     

      

    (x)          “RSU” means a contractual right granted in
        accordance with the provisions of Section 5 that is denominated in Shares.  Each RSU represents a right to receive the value of one Share.  Awards of RSUs may include the right to receive dividend equivalents.

     

      

    (y)          “SAR” means any right granted in accordance
        with the provisions of Section 7 to receive upon exercise by a Participant or settlement the excess of (i) the Fair Market Value of one Share on the date of exercise or settlement over (ii) the exercise price of the right on the date of grant, or
        if granted in connection with an Option, on the date of grant of the Option.

     

      

    (z)          “Securities Act” means the Securities Act of
        1933, as amended from time to time, and the rules, regulations and guidance thereunder.  Any reference to a provision in the Securities Act shall include any successor provision thereto.

     

      

    (aa)        “Shares” means common shares of the Company.

     

      

    (bb)        “Subsidiary” means any corporation, limited
        liability company, joint venture or partnership of which the Company (a) directly or indirectly owns more than fifty percent (50%) of (i) the total combined voting power of all classes of voting securities of such entity, (ii) the total combined
        equity interests, or (iii) the capital or profit interests, in the case of a partnership; or (b) otherwise has the power to vote, either directly or indirectly, sufficient securities to elect a majority of the board of directors or similar
        governing body.

     

      

    (cc)        “Termination of Service” means:

     

      

    (i)          in the case of a Participant who is an employee of the
        Company or a Subsidiary, cessation of the employment relationship such that the Participant is no longer an employee of the Company or Subsidiary;

     

      

    (ii)         in the case of a Participant who is a Non-Employee
        Director, the date that the Participant ceases to be a member of the Board for any reason; or

     

      

    (iii)        in the case of a Participant who is a consultant or other
        advisor, the effective date of the cessation of the performance of services for the Company or any Subsidiary;

     

      

    provided, however, that in the case of an employee, the transfer of employment from the
        Company to a Subsidiary, from a Subsidiary to the Company, from one Subsidiary to another Subsidiary or, unless the Committee determines otherwise, the cessation of employee status but the continuation of the performance of services for the Company
        or a Subsidiary as a member of the Board or a consultant or other advisor shall not be deemed a cessation of service that would constitute a Termination of Service; and provided

          further that a Termination of Service will be deemed to occur for a Participant employed by a Subsidiary when a Subsidiary ceases to be a Subsidiary, unless such Participant’s employment continues with the Company or another Subsidiary.

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