Document:

EX-10.2

 Exhibit 10.2 

FIRST INCREMENTAL AMENDMENT AND WAIVER TO 

CREDIT AGREEMENT 
 This
FIRST INCREMENTAL AMENDMENT AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) is dated as of December 22, 2020 and is entered into by (i) INSTRUCTURE INTERMEDIATE
HOLDINGS III, LLC, a Delaware limited liability company (“Holdings”), (ii) INSTRUCTURE HOLDINGS, LLC, a Delaware limited liability company (the “Parent Borrower”), (iii) INSTRUCTURE, INC., a Delaware corporation
(the “Administrative Borrower”), (iv) the other Subsidiaries of Holdings signatory hereto, as Guarantors, (iv) the 2020 Incremental Lenders (as defined below) and any other Lenders party hereto that constitute all Lenders (any
such Lender, a “Consenting Lender” and collectively, the “Consenting Lenders”) and (v) GOLUB CAPITAL MARKETS LLC (“Golub”), as administrative agent for the Lenders (in such capacity, together
with its successors and permitted assigns in such capacity, the “Administrative Agent”), and amends that certain Credit Agreement, dated as of March 24, 2020 (the “Credit Agreement”, and as amended by this
Amendment, the “Amended Credit Agreement”), by and among, inter alios, Holdings, the Parent Borrower, the Administrative Borrower, the other Guarantors signatory thereto, the Lenders from time to time party thereto, the
Administrative Agent and Golub, as collateral agent for the Secured Parties (in such capacity, together with its successors and permitted assigns in such capacity, the “Collateral Agent”). Capitalized terms used herein without
definition shall have the same meanings herein as set forth in the Amended Credit Agreement. 
 RECITALS 

WHEREAS, pursuant to Section 2.01(c) of the Credit Agreement, the Administrative Borrower may request that lenders provide
Incremental Term Loan Commitments by entering into an amendment executed by the Credit Parties, the Administrative Agent and the lenders providing such Incremental Term Loan Commitments, subject to the terms and conditions set forth in the Credit
Agreement; 
 WHEREAS, the Administrative Borrower has requested and the lenders identified on Schedule A hereto (each a
“2020 Incremental Lender”, and collectively, the “2020 Incremental Lenders”) have agreed to provide, subject to the terms and conditions set forth herein, Incremental Term Loan Commitments in an aggregate principal
amount of $70,000,000.00 in accordance with Section 2.01(c) of the Credit Agreement, which will be established as a separate tranche from the tranche of Initial Term Loans (as defined in the Amended Credit Agreement) under the Credit Agreement;

 WHEREAS, the Administrative Borrower intends to use the proceeds of the 2020 Incremental Term Loans (as defined below) for the
purposes set forth in Section I.E.; 
 WHEREAS, the Administrative Borrower has requested, pursuant to Sections 2.01(c)(vi) and 13.01
of the Credit Agreement, that the provisions of the Credit Agreement be amended as set forth in this Amendment and certain waivers be entered into in connection with the Credit Agreement, in each case, subject to the terms and conditions set forth
herein; and 
 WHEREAS, the Administrative Borrower, the Administrative Agent, the 2020 Incremental Lenders and the Consenting
Lenders desire to amend the Credit Agreement and grant the waivers on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties
hereto agree as follows: 

 SECTION I.    INCREMENTAL TERM LOANS 

A.    Subject to the terms and conditions of this Amendment and the Credit Agreement, each 2020 Incremental Lender
severally agrees to make an Incremental Term Loan (collectively, the “2020 Incremental Term Loans”) by delivering immediately available funds to the Administrative Borrower on the First Amendment Effective Date (as defined
below) in a principal amount equal to the amount set forth opposite such 2020 Incremental Lender’s name on Schedule A attached hereto (the “2020 Incremental Term Loan Commitments”) and the existing Schedule 1.01(a) to
the Credit Agreement shall be deemed to be amended to include the information set forth on Schedule A attached hereto. The 2020 Incremental Term Loan Commitments of each 2020 Incremental Lender hereunder will terminate upon the making in full
by such 2020 Incremental Lender of the 2020 Incremental Term Loans referred to herein. Once borrowed, amounts repaid in respect of the 2020 Incremental Term Loans may not be reborrowed. 

B.    With respect to the 2020 Incremental Term Loans, this Amendment shall constitute the notice required pursuant
to Section 2.01(c)(i) of the Credit Agreement and an incremental amendment for purposes of Section 2.01(c)(vi) of the Credit Agreement, and the 2020 Incremental Term Loans shall be deemed to be incurred pursuant to clause (B) of
Section 2.01(c)(ii) of the Credit Agreement notwithstanding that, as of the First Amendment Effective Date, (x) the LQA Recurring Revenue Net Leverage Ratio may exceed the Recurring Revenue Incremental Leverage Ratio on a Pro Forma Basis
and (y) the Administrative Borrower may not have delivered the notice contemplated by the provisions of Section 2.01(c)(iii)(B) of the Credit Agreement. In reliance upon the representations, warranties and covenants of the Borrowers and
each other Credit Party contained in this Amendment, and subject to the effectiveness and the terms and conditions of this Amendment, the Consenting Lenders hereby consent to the incurrence of the 2020 Incremental Term Loans in reliance on clause
(B) of Section 2.01(c)(ii) of the Credit Agreement and waive the requirements that (x) the LQA Recurring Revenue Net Leverage Ratio does not exceed the Recurring Revenue Incremental Leverage Ratio on a Pro Forma Basis solely for such
incurrence and (y) the Administrative Borrower deliver the notice contemplated by the provisions of Section 2.01(c)(iii)(B) of the Credit Agreement. 

C.    After the funding of the 2020 Incremental Term Loans, the 2020 Incremental Term Loans shall be added as a new
tranche of Term Loans under the Amended Credit Agreement and the 2020 Incremental Term Loans shall constitute a separate Tranche of Term Loans apart from the Initial Term Loans. Notwithstanding any provision to the contrary herein or in the Credit
Agreement, except as set forth herein (including the amendments set forth in Section III hereof), the terms of the 2020 Incremental Term Loans shall be the same as the terms of the Initial Term Loans. Upon the First Amendment Effective Date,
each 2020 Incremental Lender shall be a Lender, for all purposes of the Amended Credit Agreement, with an outstanding Term Loan under the Amended Credit Agreement. Following the First Amendment Effective Date and the funding of the 2020 Incremental
Term Loans, each reference to “Term Loans” in the Credit Documents shall be a reference to the Initial Term Loans and the 2020 Incremental Term Loans, and each reference to “Lenders” in the Credit Documents
shall include the 2020 Incremental Lenders, in each case, unless the context shall require otherwise, and the 2020 Incremental Lenders shall have the rights and obligations of a “Lender” under the Amended Credit Agreement and the
other Credit Documents. Each of the parties hereto hereby agrees that the Administrative Agent may take any and all action as may be reasonably necessary to ensure that all such 2020 Incremental Term Loans, when made, are Term Loans for all purposes
under the Credit Documents, and the Administrative Agent is authorized to mark the Register accordingly to reflect the amendments and adjustments set forth herein. 

D.    The 2020 Incremental Term Loans shall be made as a single Eurodollar Term Loan, with an initial Interest
Period that commences on the First Amendment Effective Date and ends on the last day of the Interest Period applicable to the Initial Term Loans. During such initial Interest Period, the interest rate (i.e., Applicable Margin plus the
relevant Eurodollar Rate) applicable to the 2020 Incremental Term Loans shall be the same interest rate (i.e., Applicable Margin plus the relevant Eurodollar Rate) applicable for the Initial Term Loans (after giving effect to the
amendments contemplated by this Amendment). 

  
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 E.    The proceeds of the 2020 Incremental Term Loans shall be
used (a) to fund the consideration payable in order to consummate the Certica Transactions on the First Amendment Effective Date, (b) to refinance certain existing debt of Certica Holdings Corp., a Delaware corporation
(“Certica”), and its subsidiaries, (c) to pay fees and expenses incurred in connection with the Certica Transactions and (d) for the purposes set forth in Section 9.12(d) of the Amended Credit Agreement. 

F.    The 2020 Incremental Term Loans shall be repaid in accordance with Section 2.05(b) of the Amended Credit
Agreement and shall otherwise be the same as the Initial Term Loans. 
 SECTION II.    PERMITTED ACQUISITION 

Notwithstanding anything herein or in any Credit Document to the contrary, the Administrative Agent, 2020 Incremental Lenders and the
Consenting Lenders acknowledge and agree that the Certica Acquisition shall be deemed to be a Permitted Acquisition pursuant to clause (a) of the definition thereof for all purposes under this Amendment, the Amended Credit Agreement and the
other Credit Documents. 
 SECTION III.    AMENDMENTS TO THE CREDIT AGREEMENT 

The parties hereto agree that, on the First Amendment Effective Date, the Credit Agreement shall hereby be amended as follows: 

A.    Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in appropriate
alphabetical order: 
 “2020 Incremental Lenders” shall have the meaning assigned to such term in the First
Amendment. 
 “2020 Incremental Term Loans” shall have the meaning assigned to such term in the First Amendment.

 “2020 Incremental Term Loan Commitments” shall have the meaning assigned to such term in the First Amendment; the
original aggregate amount of the 2020 Incremental Term Loan Commitments on the First Amendment Effective Date is $70,000,000. 

“2020 Incremental Term Loan Repayment Amount” shall have the meaning specified in
Section 2.05(b)(ii). 
 “2020 Incremental Term Loan Repayment Date” shall have the meaning
specified in Section 2.05(b)(ii). 
 “Certica” means Certica Holdings Corp., a Delaware
corporation. 
 “Certica Acquisition” means the series of transactions in which Administrative Borrower will acquire
directly or indirectly all of the outstanding equity interests of Certica pursuant to the Certica Acquisition Agreement. 

“Certica Acquisition Agreement” means that certain Share Purchase Agreement made and entered into as of
November 23, 2020, by and among the Administrative Borrower, Certica Holdings, LLC, a Delaware limited liability company, and Certica, together with the exhibits, schedules and annexes thereto and any amendments, modifications or waivers of any
of the provisions thereof. 

  
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 “Certica Transactions” shall mean, collectively, (a) the
Certica Acquisition (including all transactions contemplated by the Certica Acquisition Agreement), (b) the execution and delivery of the First Amendment and the Credit Documents executed in connection therewith by the Credit Parties, the Borrowings
thereunder on the First Amendment Effective Date and the application of the proceeds thereof as contemplated by the First Amendment, and (c) the payment of all fees and expenses incurred in connection with the consummation of the foregoing.

 “First Amendment” means the First Incremental Amendment to Credit Agreement, dated as of December 22, 2020,
among Holdings, the Administrative Borrower, the Guarantors party thereto, the 2020 Incremental Lenders, the other Lenders party thereto and the Administrative Agent. 

“First Amendment Effective Date” shall have the meaning assigned to such term in the First Amendment. 

“Initial Term Loan” shall have the meaning specified in Section 2.01(a)(i), which, for the
avoidance of doubt, shall not include any 2020 Incremental Term Loans. 
 “Initial Term Loan Repayment Amount” shall
have the meaning specified in Section 2.05(b)(i). 
 “Initial Term Loan Repayment Date”
shall have the meaning specified in Section 2.05(b)(i). 
 B.    The following
definitions shall be amended and restated in their entirety as set forth below: 
 ““Term Loan”
means, as the context may require, the Initial Term Loans, any Incremental Term Loans (including, for the avoidance of doubt, any 2020 Incremental Term Loans), Refinancing Term Loan and/or any Extended Term Loan and, as so defined, includes an ABR
Loan or a Eurodollar Loan, each of which is a Type of Term Loan hereunder. As of the First Amendment Effective Date, the outstanding principal amount of Term Loans is $841,125,000. 

“Term Loan Commitment” shall mean, (a) in the case of each Lender that is a Lender on the Closing
Date, the amount set forth opposite such Lender’s name on Schedule 1.01(a) as such Lender’s “Term Loan Commitment”, (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such
Lender’s “Term Loan Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the Total Term Loan Commitment and/or (c) any Incremental Term Loan Commitments (including, for the avoidance of
doubt, any 2020 Incremental Term Loan Commitments), in each case as the same may be changed from time to time pursuant to the terms hereof.” 

C.    Section 2.01(a)(i) shall be amended and restated as set forth below: 

“(a) Term Loans. 

(i) Subject to and upon the terms and conditions herein set forth, each Lender having a Term Loan Commitment severally agrees
to make a loan or loans (collectively, the “Initial Term Loans” and each, individually, an “Initial Term Loan”) in the amount and in the currency set forth opposite such Lender’s name on
Schedule 1.01(a) under “Term Loan Commitment” to the Borrowers, which Initial Term Loans (i) shall not exceed, for any such Lender, the applicable Term Loan Commitment of such Lender, (ii) shall not exceed, together with
all other Term Loans, in the 

  
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aggregate, the Total Term Loan Commitment, (iii) shall be made on the Closing Date, (iv) may, at the option of the Administrative Borrower be incurred and maintained as, and/or
converted into, ABR Loans or Eurodollar Term Loans; provided, that all such Initial Term Loans made by each of the Lenders shall, unless otherwise specifically provided herein, consist entirely of Initial Term Loans of the same Type, and
(v) may be repaid or prepaid in accordance with the provisions hereof, but once repaid or prepaid may not be reborrowed.” 

D.    Section 2.01(c)(v) shall be amended and restated as set forth below: 

“(v)    Terms. The final maturity date of any Incremental Term Loan shall be no earlier (but may be later) than
the final stated maturity date of the initial Term Loans and the weighted average life to maturity of any such Incremental Term Loan shall not be shorter (but may be longer) than the remaining weighted average life to maturity of the initial Term
Loans (except to the extent of nominal amortization for periods where amortization has been eliminated as a result of prepayment of Term Loans prior to such date of determination). The interest rates and, subject to the sentence above, the
amortization schedule applicable to any Incremental Term Loan, shall be determined by the Borrowers and the lenders thereunder and each Incremental Revolving Credit Loan shall not have amortization or scheduled mandatory commitment reductions (other
than at maturity). The final maturity date of any Incremental Revolving Credit Loan shall be no earlier (but may be later) than the final stated maturity date of the initial Revolving Credit Loans. The all-in
yield (including interest rate margins, any interest rate floors, original issue discount, upfront fees or similar yield-related discounts, deductions or payments (based on the lesser of a four-year average life to maturity or the remaining life to
maturity), but excluding reasonable, customary and bona fide arrangement, structuring, amendment, underwriting and/or similar fees paid or payable to any arranger or any arranger’s Affiliates with respect to such Incremental Term Loan or
Incremental Revolving Credit Loan) applicable to any Incremental Term Loan (other than the 2020 Incremental Term Loans) or any new Incremental Revolving Credit Loans shall not be more than 0.50% per annum higher than the corresponding all-in yield (determined on the same basis) applicable to the then outstanding initial Term Loans or the then outstanding initial Revolving Credit Loans, as applicable, or any outstanding prior Incremental Term Loan
or Incremental Revolving Credit Loan, as applicable, unless the interest rate margin (and the interest rate floor, if applicable) with respect to the then outstanding initial Term Loans or initial Revolving Credit Loans, as applicable, and each
outstanding prior Incremental Term Loan or Incremental Revolving Credit Loan, as the case may be, is increased by an amount equal to the difference between the all-in yield with respect to the Incremental Term
Loan or the Incremental Revolving Credit Loan, as applicable, and the all-in yield on the then outstanding initial Term Loans or initial Revolving Credit Loans, as applicable, and any outstanding prior
Incremental Term Loan or Incremental Revolving Credit Loans, as applicable, minus 0.50% per annum. Except with respect to amortization, pricing and final maturity as set forth in this clause (v), any Incremental Term Loan shall be on terms
substantially similar to the initial Term Loans or no more onerous than the terms applicable to the then outstanding initial Term Loans, or any outstanding prior Incremental Term Loan (excluding terms applicable after the Latest Maturity Date) or
terms otherwise reasonably satisfactory to the Administrative Agent; provided, that representations, warranties, covenants and events of default with respect to such Incremental Term Loan may be inconsistent with the initial Term Loans so long as,
if any such representation, warranty, covenant or event of default is in addition to, or more restrictive than, those applicable to the initial Term Loans, either (x) the initial Term Loans shall receive the benefit of any such additional or
more restrictive representation, warranty, covenant or event of default or (y) such representations, warranties, covenants or events of default shall be effective after the Maturity Date applicable to the initial Term Loans. Any Incremental
Revolving Credit Loans shall be on the same terms (including all-in pricing and maturity date but excluding reasonable, customary and bona fide arrangement, structuring, amendment, underwriting and/or similar
fees 

  
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paid or payable to any arranger or any arranger’s Affiliates with respect to such Incremental Revolving Credit Commitments) as, and pursuant to documentation applicable to, the initial
Revolving Credit Loans. The currency of any Incremental Facility shall be Dollars or any other currency reasonably acceptable to the Administrative Agent and the Lenders providing such Incremental Facility.” 

E.    Section 2.05(b) shall be amended and restated as set forth below: 

“(b) Term Loans. (i) The Borrowers agree to pay to the Administrative Agent, for the benefit of the Lenders of the Initial
Term Loans, on each date set forth below (each, an “Initial Term Loan Repayment Date” and together with the 2020 Incremental Term Loan Repayment Date (as defined below), each, an “Term Loan Repayment
Date”), the principal of the Initial Term Loans in the amounts set forth below opposite such Term Loan Repayment Date (each, an “Initial Term Loan Repayment Amount” and together with the 2020
Incremental Term Loan Repayment Amount (as defined below), each, a “Term Loan Repayment Amount”) (which Term Loan Repayment Amount shall be reduced as a result of, and after giving effect to, the application of prepayments in
accordance with the order of priority set forth in Section 5.01 and Section 5.02(a)(viii)): 
  

			
	 Term Loan

Repayment Date
	  	 Term Loan

Repayment Amount

	June 30, 2020 and the last Business Day of each
calendar quarter thereafter	  	0.25% of the aggregate initial principal amount of
each Initial Term Loan funded on the Closing
Date
		
	Term Loan Maturity Date	  	The entire remaining principal amount of all Initial Term Loans

 and (ii) the Borrowers agree to pay to the Administrative Agent, for the benefit of the Lenders of the
2020 Incremental Term Loans, on each date set forth below (each, a “2020 Incremental Term Loan Repayment Date”), the principal of the 2020 Incremental Term Loans in the amounts set forth below opposite such 2020
Incremental Term Loan Repayment Date (each, a “2020 Incremental Term Loan Repayment Amount”) (which 2020 Incremental Term Loan Repayment Amount shall be reduced as a result of, and after giving effect to, the
application of prepayments in accordance with the order of priority set forth in Section 5.01 and Section 5.02(a)(viii)): 
  

			
	 2020 Incremental Term Loan

Repayment Date
	  	 2020 Incremental Term Loan

Repayment Amount

	March 31, 2021 and the last Business Day of each
calendar quarter thereafter	  	0.25% of the aggregate initial principal amount of
each 2020 Incremental Term Loan funded on the
First Amendment Effective Date
		
	Term Loan Maturity Date	  	The entire remaining principal amount of all 2020
Incremental Term Loans

 For the avoidance of doubt, the Borrowers agree to pay to the Administrative Agent, for the benefit of the
applicable Lenders, on the Term Loan Maturity Date, all then outstanding Term Loans.” 

  
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 SECTION IV.     CONDITIONS TO EFFECTIVENESS 

The effectiveness of this Amendment and the obligation of the 2020 Incremental Lenders to make the 2020 Incremental Term Loans are subject to
the satisfaction (or waiver by the 2020 Incremental Lenders and Consenting Lenders signatory hereto) of each of the following conditions (the date upon which all of such conditions are satisfied or waived, the “First Amendment Effective
Date”): 
 A.    Certica Acquisition. The Certica Acquisition shall have been consummated, or
substantially concurrently with the initial funding of the 2020 Incremental Term Loans, shall be consummated, in each case, in all material respects in accordance with the terms of the Certica Acquisition Agreement. 

B.    Execution. The Administrative Agent shall have received a counterpart signature page to this
Amendment, duly executed by each of the Credit Parties, each of the 2020 Incremental Lenders, the other Lenders party hereto, the Administrative Agent and the Collateral Agent. 

C.    Certificates. The Administrative Agent shall have received a Solvency Certificate of a financial
officer or other Authorized Officer of Holdings, on behalf of the Credit Parties, in form reasonably satisfactory to the Administrative Agents confirming that the Credit Parties and their Subsidiaries, taken as a whole, immediately after giving
effect to the transactions contemplated herein are Solvent. 
 D.    Financial Statements. The
Administrative Agent shall have received Certica’s and its Subsidiaries’ (i) audited consolidated balance sheet as of June 30, 2019, and statement of income and cash flows for the year then ended and (ii) unaudited consolidated
balance sheet as of September 30, 2020, and statements of income and cash flows for the twelve (12)-month period then ended. 

E.    Representations and Warranties. The representations and warranties made by each Credit Party set forth
in Article VIII of the Credit Agreement or in any other Credit Document executed on or prior to the date hereof and the representations and warranties made by each Credit Party set forth in Section V hereunder shall be true and correct in all
material respects (or in all respects if already qualified by materiality or Material Adverse Effect) on and as of the First Amendment Effective Date (in each case both before and immediately after giving effect thereto), except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (or in all respects if already qualified by materiality or Material Adverse Effect) as of such earlier
date. 
 F.    KYC. So long as requested at least ten (10) days prior to the First Amendment
Effective Date, the Administrative Agent and the 2020 Incremental Lenders shall have received, at least three (3) days prior to the First Amendment Effective Date, all documentation and other information required by bank regulatory authorities
under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulations. 

G.    Fees; Expenses. There shall have been paid or shall be paid concurrently with the initial funding of
the 2020 Incremental Term Loans, to the extent invoices have been received by the Administrative Borrower at least three (3) Business Days prior to the First Amendment Effective Date, (i) a closing fee structured as a cash payment to the
Administrative Agent for the account of each 2020 Incremental Lender on the date hereof in an amount equal to 3.5% of the 2020 Incremental Term Loans funded by such 2020 Incremental Lender on the date hereof and (ii) all out-of-pocket expenses incurred by the Administrative Agent and required to be paid pursuant to Section 13.05 of the Credit Agreement in connection with the 2020
Incremental Term Loans and this Amendment. 

  
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 H.    Legal Opinion; Customary Closing Documents;
Refinancing. The Administrative Agent shall have received each of the following, dated as of the First Amendment Effective Date: 

(a)    such duly executed certificates of resolutions or consents, incumbency certificates and/or other duly executed
certificates of Authorized Officers of each Credit Party as the Administrative Agent or the 2020 Incremental Lenders may reasonably require, evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as an
Authorized Officer in connection with this Amendment and the other Credit Documents to which such Credit Party is a party or is to be a party; provided, that such certifications may, to the extent applicable, reflect that no changes have been
made since the original certifications provided to the Administrative Agent on the Closing Date; 
 (b)    such
documents and duly executed certifications as the Administrative Agent or the 2020 Incremental Lenders may reasonably require to evidence that each Credit Party is duly organized, incorporated or formed, and, to the extent applicable, that each
Credit Party is validly existing and in good standing (to the extent such concept exists in the applicable jurisdiction); provided, that such certifications may, to the extent applicable, reflect that no changes have been made since the
original certifications provided to the Administrative Agent on the Closing Date; 
 (c)    a duly executed Notice of
Borrowing in accordance with the requirements of Section 2.03 of the Credit Agreement; 
 (d)    an opinion of
Kirkland & Ellis LLP addressed to the Administrative Agent, the Collateral Agent and the 2020 Incremental Lenders, in form and substance reasonably satisfactory to the Administrative Agent and covering such other matters concerning the
Credit Parties, the Amendment and the Credit Documents as the 2020 Incremental Lenders may reasonably request; and 

(e)    evidence reasonably satisfactory to the Administrative Agent that the refinancing of existing third party debt for
borrowed money of Certica and its subsidiaries pursuant to that certain Loan Agreement, dated February 11, 2016 (as amended, restated, supplemented or otherwise modified from time to time), by and among Certica, the other borrowers party
thereto and Deerpath Capital II, LP, shall have occurred (or concurrently with the funding of the 2020 Incremental Term Loans, will occur) and all liens securing such indebtedness or other obligations thereunder have been (or concurrently with the
initial funding of the 2020 Incremental Term Loans will be) released and/or terminated (other than customary liens permitted to be outstanding under the Credit Documents) (or signed pay-off letters with
respect to such third party debt, and releases with respect to any liens securing such debt, will be placed in escrow and released upon the simultaneous closing of the Certica Acquisition (or such other arrangements related to the release of such
liens that are reasonably satisfactory to the Administrative Agent) will be implemented); provided, that notwithstanding the foregoing, certain lien filings, if any, in the U.S. Patent and Trademark Office or the U.S. Copyright Office, as
applicable, on intellectual property owned by Certica and its subsidiaries relating to its existing credit facilities (the “Specified Lien Filings”) shall not be required to be removed on or prior to the First Amendment Effective
Date, and the Administrative Borrower shall have seven (7) days following the First Amendment Effective Date (or such longer period as may be agreed by Administrative Agent in its reasonable discretion) to file (or to have filed) the
appropriate documents to cause the Specified Lien Filings to be removed. 
 I.    No Event of Default.
After giving effect to the waivers granted hereunder, no Event of Default shall have occurred and be continuing immediately prior and after giving effect to the Certica Acquisition. 

J.    Officer’s Certificate. The Administrative Agent shall have received a certificate of an
Authorized Officer of the Administrative Borrower pursuant to Section 2.01(c)(iv)(D) of the Credit 

  
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Agreement, dated at least three (3) Business Days prior to the First Amendment Effective Date, certifying the matters contained under Section 2.01(c)(iv) of the Credit Agreement and
attaching financial statements and reasonably detailed supporting calculations, in form reasonably satisfactory to the Administrative Agent, to evidence compliance with the then applicable Financial Performance Covenant(s). 

SECTION V.     REPRESENTATIONS AND WARRANTIES 

In order to induce the Administrative Agent, the Collateral Agent, the 2020 Incremental Lenders and the other Lenders party hereto to enter
into this Amendment and to amend the Credit Agreement in the manner provided herein, and for the 2020 Incremental Lenders to make the 2020 Incremental Term Loans, the Credit Parties hereto represent and warrant as of the date hereof: 

A.    Confirmation of Representations and Warranties. The representations and warranties made by each Credit
Party set forth in Article VIII of the Credit Agreement or in any other Credit Document executed on or prior to the date hereof shall be true and correct in all material respects (or in all respects if already qualified by materiality or Material
Adverse Effect) on and as of the First Amendment Effective Date (in each case both before and immediately after giving effect thereto), with the same effect as though made on and as of such date, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (or in all respects if already qualified by materiality or Material Adverse Effect) as of such earlier date. 

B.    Corporate Power and Authority. Each Credit Party has the corporate or other organizational power and
authority to execute and deliver this Amendment and the Amended Credit Agreement and carry out the terms and provisions of, the transactions contemplated by and to perform the obligations under this Amendment, the Amended Credit Agreement and any
other Credit Document to which it is a party and has taken all necessary corporate or other organizational action to authorize the execution and delivery of this Amendment and the Amended Credit Agreement and performance of this Amendment, the
Amended Credit Agreement and the other Credit Documents to which it is a party. 
 C.    Binding Effect.
Each Credit Party has duly executed and delivered this Amendment and the other Credit Documents executed in connection with this Amendment to which it is a party and all such documents constitute the legal, valid and binding obligation of such
Credit Party enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization and other similar laws relating to or affecting creditors’ rights generally and general
principles of equity (whether considered in a proceeding in equity or law). 
 D.    No Violation. None of
(a) the execution and delivery of this Amendment and the Amended Credit Agreement and performance of this Amendment, the Amended Credit Agreement and the other Credit Documents by any Credit Party to which it is a party and compliance with the
terms and provisions thereof, (b) the consummation of the transactions contemplated hereby or thereby on the relevant dates therefor will (i) contravene any applicable provision of any material Applicable Law of any Governmental Authority,
(ii) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets
of any Credit Party (other than Liens created under the Credit Documents) pursuant to, (A) the terms of any material indenture, loan agreement, lease agreement, mortgage or deed of trust, or (B) any other material Contractual Obligation,
in the case of either clause (A) and (B) to which any Credit Party is a party or by which it or any of its property or assets is bound or (iii) violate any provision of the Organization Documents of any Credit Party, except with respect to
any conflict, breach or contravention or default (but not creation of Liens) referred to in clauses (i), (ii)(A) or (ii)(B), to the extent that such conflict, breach, contravention or default would not reasonably be expected to have a Material
Adverse Effect. 

  
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 E.    Approval, Consents, etc. No authorization or
approval or other action by, and no notice to or filing with, any Governmental Authority or other Person, and no consent or approval under any material contract or instrument is required for the consummation of the transactions contemplated by this
Amendment or the Amended Credit Agreement or the due execution and delivery of this Amendment and the Amended Credit Agreement or performance by any Credit Party of this Amendment, the Amended Credit Agreement or any other Credit Document to which
it is a party. There does not exist any judgment, order, injunction or other restraint issued or, to the knowledge of Holdings, filed with respect to the transactions contemplated by this Amendment or the Amended Credit Agreement, the consummation
of the transactions hereunder, the making of any Credit Extension or the performance by the Credit Parties or any of their respective Subsidiaries of their Obligations under this Amendment, the Amended Credit Agreement or any other Credit Documents.

 SECTION VI.    ACKNOWLEDGMENT AND CONSENT 

Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of the Credit Agreement and this Amendment and consents to
the modifications contained herein. Each Credit Party hereby confirms that each Credit Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest
extent possible in accordance with the Credit Documents, the payment and performance of all “Obligations” under each of the Credit Documents to which it is a party (in each case, as such terms are defined in the applicable Credit
Document), including, for the avoidance of doubt, the 2020 Incremental Term Loans. 
 Each Credit Party hereby acknowledges and agrees that
any of the Credit Documents (as they may be modified by this Amendment) to which it is a party or otherwise bound shall continue in full force and effect, and that all of its obligations thereunder shall be valid and enforceable and shall not be
impaired or limited by the execution or effectiveness of this Amendment. 
 Each Credit Party (other than the Administrative Borrower)
hereby acknowledges and agrees that, without limiting the reaffirmation and acknowledgement by such Credit Party under Sections VI and VII.A of this Amendment, (i) notwithstanding the conditions to effectiveness set forth in this Amendment,
such Person is not required by the terms of the Credit Agreement or any other Credit Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment, and (ii) nothing in the Credit Agreement, this Amendment or
any other Credit Document shall be deemed to require the consent of such Person to any future amendments to the Credit Agreement. 
 SECTION
VII.    MISCELLANEOUS 
 A.    Reference to and Effect on the Credit Agreement and the
Other Credit Documents. 
 (i)    On and after the First Amendment Effective Date, each reference
in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Credit Documents to the “Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Amended Credit Agreement. 

(ii)    Except for the consent, waivers, amendments and modifications expressly set forth herein, the
Credit Agreement and the other Credit Documents shall remain unchanged and in full force and effect and are hereby ratified and confirmed and this Amendment shall not be considered a novation. The consent, waivers, amendments and modifications set
forth herein are limited to the specifics hereof (including facts or occurrences on which the same are based), shall not apply with respect to any facts or occurrences other than those on which the same are based, shall neither

  
 10 

 
excuse any future non-compliance with the Credit Documents nor operate as a waiver of any Default or Event of Default, shall not operate as a consent to
any further waiver, consent or amendment or other matter under the Credit Documents, and shall not be construed as an indication that any future waiver or amendment of covenants or any other provision of the Credit Agreement will be agreed to, it
being understood that the granting or denying of any waiver or amendment which may hereafter be requested by the Administrative Borrower remains subject to the terms of the Credit Agreement. 

(iii)    The execution, delivery and performance of this Amendment shall not, except as expressly provided
herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Credit Agreement or any of the other Credit Documents. 

(iv)    Each Credit Party hereby (A) confirms that the obligations of such Credit Party under the
Amended Credit Agreement (including with respect to the 2020 Incremental Term Loans) and the other Credit Documents (I) are entitled to the benefits of the guarantees and the security interests set forth or created in the Security Documents and
the other Credit Documents and (II) constitute Obligations, (B) ratifies and reaffirms the validity and enforceability of the guarantee obligations of the Credit Parties pursuant to the Security Documents and all of the Liens and security
interests heretofore granted, pursuant to and in connection with the Security Documents or any other Credit Document to the Collateral Agent, on behalf of and for the benefit of each Secured Party, as guarantees of and collateral security for the
obligations under the Credit Documents in accordance with their respective terms, and (C) acknowledges and agrees that all of such guarantees, Liens and security interests, and all Collateral heretofore pledged as security for such obligations,
shall not be impaired or adversely affected in any manner, and continue to guarantee and secured, and to remain collateral for such obligations from and after the date hereof (including, without limitation, from after giving effect to this
Amendment). 
 (v)    This Amendment shall be deemed to be a Credit Document. 

(vi)    Upon the occurrence of the First Amendment Effective Date, each 2020 Incremental Lender that
is not, prior to the effectiveness of this Amendment, a “Lender” under the Credit Agreement, (A) shall be a “Lender” for all purposes of the Amended Credit Agreement and the Credit Documents, (B) agrees to be bound by
the terms and conditions of the Amended Credit Agreement and the other Credit Documents, and (C) will have all of the rights and obligation of a “Lender” under the Amended Credit Agreement and the Credit Documents. 

(vii)    This Amendment is not intended to constitute, and does not constitute, a novation of the
obligations and liabilities under the Credit Agreement (including the Obligations) or to evidence, and does not evidence, payment of all or any portion of such obligations and liabilities. 

B.    Headings. Section and subsection headings in this Amendment are included herein for convenience
of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 

C.    Governing Law. THIS AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICTS OF LAW PROVISIONS. 

  
 11 

 D.    Submission to Jurisdiction; Waivers; Waiver of Jury
Trial. The provisions of Sections 13.14 and 13.16 of the Credit Agreement pertaining to consent to jurisdiction, service of process and waiver of jury trial are hereby incorporated by reference, mutatis mutandis. 

E.    Indemnification. The Administrative Borrower hereby confirms that the indemnification
provisions set forth in Section 13.05 of the Credit Agreement shall apply to this Amendment and the transactions contemplated hereby and each Lender party hereto confirms that the indemnification provisions set forth in Section 12.07 of
the Credit Agreement shall apply to this Amendment and the transactions contemplated hereby. 

F.    Counterparts. This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute one and the same instrument; signature pages may be detached from multiple
separate counterparts and attached to a single counterpart so that all signature pages are deemed attached to the same document. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic format (e.g.
“pdf” or “tif” file format) shall be effective as delivery of a manually executed counterpart of this Amendment. No posting to any e-system shall be denied legal effect merely because it is
made electronically and each party hereto agrees not to contest the validity or enforceability of any posting on any e-system or e-signature merely because it is made
electronically. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment or any other documents executed in connection herewith and the transactions
contemplated hereby shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the federal Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other state laws based on the Uniform Electronic Transactions Act, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means. 

G.    Entire Agreement. This Amendment, the Amended Credit Agreement and the other Credit Documents
constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the
subject matter hereof. 
 H.    Severability. Any term or provision of this Amendment which is
invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Amendment or
affecting the validity or enforceability of any of the terms or provisions of this Amendment in any other jurisdiction. If any provision of this Amendment is so broad as to be unenforceable, such provision shall be interpreted to be only so broad as
would be enforceable. 
 [Remainder of page intentionally blank] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above. 
  

									
	BORROWERS:	 		 	 INSTRUCTURE HOLDINGS, LLC,

a Delaware limited liability company

					
		 		 		 	By:	 	 /s/ Matthew A. Kaminer

		 		 		 	Name:	 	Matthew A. Kaminer
		 		 		 	Title:	 	Vice President
				
		 		 		 	 INSTRUCTURE, INC.,
 a
Delaware corporation

					
		 		 		 	By:	 	 /s/ Matthew A. Kaminer

		 		 		 	Name:	 	Matthew A. Kaminer
		 		 		 	Title:	 	Executive Vice President
			
	GUARANTORS:	 		 	 INSTRUCTURE INTERMEDIATE
HOLDINGS III, LLC,

a Delaware limited liability company

					
		 		 		 	By:	 	 /s/ Matthew A. Kaminer

		 		 		 	Name:	 	Matthew A. Kaminer
		 		 		 	Title:	 	Vice President
				
		 		 		 	 INSTRUCTURE HOLDING LLC,
 a
Delaware limited liability company

		 		 		 	 MASTERYCONNECT, INC.,
 a
Delaware corporation

		 		 		 	 PORTFOLIUM, LLC,
 a Delaware
limited liability company

		 		 		 	 PRACTICE XYZ, LLC,
 a
Delaware limited liability company

					
	By:	 	 /s/ Matthew A. Kaminer
	 		 		 	
	Name:	 	Matthew A. Kaminer	 		 		 	
	Title:	 	Executive Vice President	 		 		 	

 [Signature Page to First Amendment] 

 
			
	GOLUB CAPITAL MARKETS LLC, as
Administrative Agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

			
	2020 INCREMENTAL LENDERS
	Golub Capital BDC Funding II LLC
	By:	 	GC Advisors LLC, as agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

			
	CONSENTING LENDERS
	
	GOLUB CAPITAL FUNDING CLO-8-2, Ltd.
	By:	 	GC Advisors LLC, its Manager
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	GBDC 3 Holdings LLC
	By:	 	Golub Capital BDC 3, Inc., its sole member
	By:	 	GC Advisors LLC, its Manager
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	GC Finance Operations LLC
	By:	 	GC Advisors LLC, its Manager
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	GBDC 3 Funding LLC
	By:	 	Golub Capital BDC 3, Inc., its sole member
	By:	 	GC Advisors LLC, its Manager
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	GCP Finance 5 Ltd.
	By:	 	GC Advisors LLC, its agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

			
	Consenting Lenders:
	GCP Finance 7 Ltd.
	By:	 	GC Advisors LLC, its agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	GCP Finance 8 Ltd.
	By:	 	GC Advisors LLC, its agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	Golub Capital Partners ABS Funding 2019-1, Ltd.
	By:	 	GC Advisors LLC, its agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director
	
	Golub Capital Partners ABS Funding 2020-1, L.P.
	By:	 	GC Advisors LLC, its agent
		
	By:	 	 /s/ Robert G. Tuchscherer

	Name:	 	Robert G. Tuchscherer
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

 
			
	2020 INCREMENTAL LENDERS:
	
	Senior Credit (UWF) SPV LLC.
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory
	
	Goldman Sachs Private Middle Market Credit II LLC
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory
	
	CONSENTING LENDERS:
	
	Goldman Sachs Private Middle Market Credit II LLC
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory
	
	GOLDMAN SACHS BDC, INC.
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory
	
	GOLDMAN SACHS PRIVATE MIDDLE MARKET CREDIT II SPV II LLC
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory
	
	SENIOR CREDIT (UWF) SPV LLC
		
	By:	 	 /s/ Brendan McGovern

	 Name:
	 	Brendan McGovern
	 Title:
	 	Authorized Signatory

 [Signature Page to First Amendment] 

 
			
	SENIOR CREDIT FUND (UCR) SPV LLC
		
	By:	 	 /s/ Brendan McGovern

	Name:	 	Brendan McGovern
	Title:	 	Authorized Signatory
	
	MONROE CAPITAL INCOME PLUS
CORPORATION,
	in its capacity as a Consenting Lender
		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	MC INCOME PLUS FINANCING SPV LLC,
	in its capacity as a Consenting Lender and a 2020
Incremental Lender
		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	MONROE CAPITAL PRIVATE CREDIT FUND III FINANCING SPV LLC,
	in its capacity as a Consenting Lender and a 2020 Incremental Lender
	
	By: MONROE CAPITAL PRIVATE CREDIT FUND III LP,
	as Designated Manager
	
	By: MONROE CAPITAL PRIVATE CREDIT FUND III LLC,
	as general partner
		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

 
			
	 MONROE CAPITAL PRIVATE CREDIT FUND III LP,

in its capacity as a Consenting Lender

	
	 By: MONROE CAPITAL PRIVATE CREDIT FUND III LLC,

its general partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	 MONROE CAPITAL PRIVATE CREDIT FUND III (UNLEVERAGED) LP,

in its capacity as a Consenting Lender and a 2020
Incremental Lender

	
	 By: MONROE CAPITAL PRIVATE CREDIT FUND III LLC,

its general partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	 MONROE CAPITAL PRIVATE CREDIT FUND I LP,

in its capacity as a Consenting Lender and a 2020
Incremental Lender

	
	 By: MONROE CAPITAL PRIVATE CREDIT FUND I LLC,

its general partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

 
			
	 MONROE CAPITAL PRIVATE CREDIT FUND VT LP,

in its capacity as a Consenting Lender and a 2020
Incremental Lender

	
	 By: MONROE CAPITAL PRIVATE CREDIT FUND VT LLC,

its general partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	 MONROE (NP) U.S. PRIVATE DEBT FUND LP,

in its capacity as a Consenting Lender

	
	 By: MONROE (NP) U.S. PRIVATE DEBT FUND GP LTD.,

its general partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	 Monroe Capital Fund Marsupial (LUX) Financing Holdco LP,

in its capacity as a Consenting Lender

	
	 By: Monroe Capital Fund Marsupial (LUX) Financing Holdco GP LLC,

its General Partner

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director
	
	 Monroe Capital Fund SV S.a.r.l., acting in respect of its Fund III (Unleveraged) Compartment,

in its capacity as a Consenting Lender

	
	 By: Monroe Capital Management Advisors LLC,

as Investment Manager

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

 
			
	 MC FINANCING SPV I, LLC,
 in
its capacity as a 2020 Incremental Lender

		
	By:	 	 /s/ Gerry Burrows

	Name:	 	Gerry Burrows
	Title:	 	Managing Director

 [Signature Page to First Amendment] 

 
			
	2020 INCREMENTAL LENDERS:
	
	NEW MOUNTAIN GUARDIAN III BDC, L.L.C.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NMFS LF I, INC.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory

 [Signature Page to First Amendment] 

 
			
	CONSENTING LENDERS:
	
	NEW MOUNTAIN FINANCE DB, L.L.C.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NEW MOUNTAIN GUARDIAN III BDC, L.L.C.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NMFS LF I, INC.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NEW MOUNTAIN FINANCE CORPORATION
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NEW MOUNTAIN GUARDIAN II MASTER FUND-A L.P.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory
	
	NEW MOUNTAIN GUARDIAN PARTNERS II L.P.
		
	By:	 	 /s/ James W. Stone

	Name:	 	James W. Stone
	Title:	 	Authorized Signatory

 [Signature Page to First Amendment] 

 
			
	2020 INCREMENTAL LENDERS:
	
	OWL ROCK CAPITAL CORPORATION
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	OWL ROCK CAPITAL CORPORATION II
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	OWL ROCK TECHNOLOGY FINANCE CORP.
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory

 [Signature Page to First Amendment] 

 
			
	CONSENTING LENDERS:
	
	OWL ROCK CAPITAL CORPORATION
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	OWL ROCK CAPITAL CORPORATION II
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	OWL ROCK TECHNOLOGY FINANCE CORP.
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	ORCC FINANCING IV LLC
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory
	
	OWL ROCK TECH FINANCING I LLC
		
	By:	 	 /s/ Alexis Maged

	Name:	 	Alexis Maged
	Title:	 	Authorized Signatory

 [Signature Page to First Amendment] 

 
			
	2020 INCREMENTAL LENDERS:
	
	TBCF I, LLC
		
	By:	 	 /s/ Scott Crabill

	Name:	 	Scott Crabill
	Title:	 	Managing Partner

 [Signature Page to First Amendment] 

 
			
	CONSENTING LENDERS:
	
	TBCF I (Offshore), LLC
		
	By:	 	 /s/ Scott Crabill

	Name:	 	Scott Crabill
	Title:	 	Managing Partner
	
	TBCF II, LLC
		
	By:	 	 /s/ Scott Crabill

	Name:	 	Scott Crabill
	Title:	 	Managing Partner
	
	TBCF II-A, LLC
		
	By:	 	 /s/ Scott Crabill

	Name:	 	Scott Crabill
	Title:	 	Managing Partner
	
	TBCF I, LLC
		
	By:	 	 /s/ Scott Crabill

	Name:	 	Scott Crabill
	Title:	 	Managing Partner

 [Signature Page to First Amendment]EX-10.3

 Exhibit 10.3 

INSTRUCTURE HOLDINGS, INC. 
  

 
 2021 OMNIBUS
INCENTIVE PLAN 
  
  

ARTICLE I 
 PURPOSE

 The purpose of this Instructure Holdings, Inc. 2021 Omnibus Incentive Plan is to promote the success of the Company’s business
for the benefit of its stockholders by enabling the Company to offer Eligible Individuals cash and stock-based incentives in order to attract, retain, and reward such individuals and strengthen the mutuality
of interests between such individuals and the Company’s stockholders. The Plan is effective as of the date set forth in Article XV. 

ARTICLE II 
 DEFINITIONS

 For purposes of the Plan, the following terms shall have the following meanings: 

2.1    “Affiliate” means a corporation or other entity controlled by,
controlling, or under control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any person, means the possession,
directly or indirectly, of the power to direct or cause the direction of management and policies of such person, whether through the ownership of voting or other securities, by contract or otherwise. 

2.2    “Applicable Law” means the requirements relating to the administration
of equity-based awards and the related shares under U.S. state corporate law, U.S. federal and state securities laws, the rules of any stock exchange or quotation system on which the shares are listed or quoted, and any other applicable laws,
including tax laws, of any U.S. or non-U.S. jurisdictions where Awards are, or will be, granted under the Plan. 

2.3    “Award” means any award under the Plan of any Stock Option, Stock
Appreciation Right, Restricted Stock, Restricted Stock Units, Performance Award, Other Stock-Based Award, or Cash Award. All Awards shall be granted by, confirmed by, and subject to the terms of a written or electronic agreement executed by the
Company and the Participant. 

  
 1 

 2.4    “Award Agreement”
means the written or electronic agreement, contract, certificate, or other instrument or document evidencing the terms and conditions of an individual Award. Each Award Agreement shall be subject to the terms and conditions of the Plan. 

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

2.6    “Cash Award” means an Award granted pursuant to Section 10.3 of
the Plan and payable in cash at such time or times and subject to such terms and conditions as determined by the Committee in its sole discretion. 

2.7    “Cause” means, unless otherwise determined by the Committee in the
applicable Award Agreement, with respect to a Participant’s Termination of Service, the following: (a) in the case where there is no employment agreement, offer letter, consulting agreement, change in control agreement, or similar
agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award (or where there is such agreement in effect but it does not define “cause” (or words of like import)), the Participant’s
(i) commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an Affiliate;
(ii) substantial and repeated failure to perform duties as reasonably directed by the person to whom the Participant reports; (iii) conduct that brings or is reasonably likely to bring the Company or an Affiliate negative publicity or into
public disgrace, embarrassment, or disrepute; (iv) gross negligence or willful misconduct with respect to the Company or an Affiliate; (v) material violation of the Company’s written policies or codes of conduct, including written
policies related to discrimination, harassment, performance of illegal or unethical activities, or ethical misconduct; or (vi) any breach of any non-competition,
non-solicitation, no-hire, or confidentiality covenant between the Participant and the Company or an Affiliate; or (b) in the case where there is an employment
agreement, offer letter, consulting agreement, change in control agreement, or similar agreement in effect between the Company or an Affiliate and the Participant at the time of the grant of the Award that defines “cause” (or words of like
import), “cause” as defined under such agreement; provided, however, that with regard to any agreement under which the definition of “cause” only applies on occurrence of a change in control, such definition of “cause”
shall not apply until a change in control (as defined in such agreement) actually takes place and then only with regard to a termination thereafter. 

2.8    “Change in Control”
means and includes each of the following, unless otherwise determined by the Committee in the applicable Award Agreement or other written agreement with a Participant approved by the Committee: 

(a)    any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the
Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of
the Company), becoming the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the
Company’s then outstanding securities, excluding for purposes herein, acquisitions pursuant to a Business Combination (as defined below) that does not constitute a Change in Control as defined in Section 2.8(b); 

  
 2 

 (b)    a merger, reorganization, or consolidation of the Company or in
which equity securities of the Company are issued (each, a “Business Combination”), other than a merger, reorganization or consolidation which would result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its direct or indirect Parent) more than 50% of the combined voting power of the voting securities of the
Company or such surviving entity (or, as applicable, a direct or indirect Parent of the Company or such surviving entity) outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected
to implement a recapitalization of the Company (or similar transaction) in which no person (other than those covered by the exceptions in Section 2.8(a)) acquires more than 50% of the combined voting power of the Company’s then outstanding
securities shall not constitute a Change in Control; or a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior
thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its direct or indirect Parent) more than 50% of the combined voting power of the voting securities of the
Company or such surviving entity (or, as applicable, a direct or indirect Parent of the Company or such surviving entity) outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected
to implement a recapitalization of the Company (or similar transaction) in which no person (other than those covered by the exceptions in Section 2.8(a)) acquires more than 50% of the combined voting power of the Company’s then outstanding
securities shall not constitute a Change in Control; 
 (c)    during the period of two (2) consecutive years,
individuals who, at the beginning of such period, constitute the Board together with any new director(s) (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections
2.8(a) or (b)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were
directors at the beginning of the two (2) year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 

(d)    a complete liquidation or dissolution of the Company or the consummation of a sale or disposition by the Company of
all or substantially all of the Company’s assets other than the sale or disposition of all or substantially all of the assets of the Company to a person or persons who beneficially own, directly or indirectly, 50% or more of the combined voting
power of the outstanding voting securities of the Company at the time of the sale. 
 For purposes of this Section 2.8, acquisitions of securities of
the Company by Thoma Bravo, L.P., any of its respective affiliates, or any investment vehicle or fund controlled by or managed by, or otherwise affiliated with Thoma Bravo, L.P., shall not constitute a Change in Control. Notwithstanding the
foregoing, with respect to any Award that is characterized as “nonqualified 

  
 3 

 
deferred compensation” within the meaning of Section 409A of the Code, an event shall not be considered to be a Change in Control under the Plan for purposes of payment of such Award
unless such event is also a “change in ownership,” a “change in effective control,” or a “change in the ownership of a substantial portion of the assets” of the Company within the meaning of Section 409A of the
Code. 
 2.9    “Change in Control Price” means the highest price per Share
paid in any transaction related to a Change in Control of the Company. 

2.10    “Code” means the U.S. Internal Revenue Code of 1986, as amended from
time to time. Any reference to any section of the Code shall also be a reference to any successor provision and any guidance and treasury regulation promulgated thereunder. 

2.11    “Committee” means any committee of the Board duly authorized by the
Board to administer the Plan; provided, however, that unless otherwise determined by the Board, the Committee shall consist solely of two or more Qualified Members. If no committee is duly authorized by the Board to administer the
Plan, the term “Committee” shall be deemed to refer to the Board for all purposes under the Plan. The Board may abolish any Committee or re-vest in itself any previously delegated authority from time
to time, and will retain the right to exercise the authority of the Committee to the extent consistent with Applicable Law. 

2.12    “Common Stock” means the common stock, $0.01 par value per share, of
the Company. 
 2.13    “Company” means Instructure Holdings, Inc., a
Delaware corporation, and its successors by operation of law. 

2.14    “Consultant” means any natural person who is an advisor or consultant
to the Company or any of its Affiliates. 
 2.15    “Disability” means,
unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a Participant’s Termination of Service, that the Participant is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment, provided, however, for purposes of an Incentive Stock Option, the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an
individual has a Disability shall be determined by the Committee, and the Committee may rely on any determination that a Participant is disabled for purposes of benefits under any long-term disability plan in which a Participant participates that is
maintained by the Company or any Affiliate and may require the Participant to obtain a formal opinion from one or more mutually agreeable physicians. 

2.16    “Dividend Equivalents” means a right granted to a Participant under the Plan to
receive the equivalent value (in cash or Shares) of dividends paid on Shares. 

  
 4 

 2.17    “Effective Date”
means the effective date of the Plan as defined in Article XV. 
 2.18    “Eligible
Employees” means each employee of the Company or any of its Affiliates. An employee on a leave of absence may be an Eligible Employee. 

2.19    “Eligible Individual” means an Eligible Employee, Non-Employee Director, Consultant, other advisors, and individuals expected to become service providers of the Company or any of its Affiliates who is designated by the Committee in its discretion as eligible to
receive Awards subject to the conditions set forth herein. 
 2.20    “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time. Reference to a specific section of the Exchange Act or regulation thereunder shall include such section or regulation, any valid regulation or
interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation. 

2.21    “Fair Market Value” means, for purposes of the Plan, unless otherwise
required by any applicable provision of the Code or any regulations issued thereunder, as of any date and except as provided below, the last sales price reported for the Common Stock on the applicable date: (a) as reported on the principal
national securities exchange in the United States on which it is then traded or (b) if the Common Stock is not traded, listed, or otherwise reported or quoted, the Committee shall determine in good faith the Fair Market Value in whatever manner
it considers appropriate taking into account the requirements of Section 409A of the Code. For purposes of the grant of any Award, the applicable date shall be the trading day immediately prior to the date on which the Award is granted. For
purposes of the exercise of any Award, the applicable date shall be the date a notice of exercise is received by the Committee or, if not a date on which the applicable market is open, the next day that it is open. Notwithstanding the foregoing,
with respect to any Award granted on the pricing date of the Company’s initial public offering, the Fair Market Value shall mean the initial public offering price of a Share as set forth in the Company’s final prospectus relating to its
initial public offering filed with the Securities and Exchange Commission. 
 2.22    “Family
Member” means “family member” as defined in Section A.1.(a)(5) of the general instructions of Form S-8. 

2.23    “Incentive Stock Option” means any Stock Option that is awarded to an
Eligible Employee who is an employee of the Company, its Subsidiaries, or its Parents (if any) under the Plan and that is intended to be, and designated as, an “Incentive Stock Option” within the meaning of Section 422 of the Code.

 2.24    “IPO Date” means the date of the underwriting agreement between
the Company and the underwriter(s) managing the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering. 

  
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2.25    “Non-Employee Director” means
a director or a member of the Board of the Company who is not an employee of the Company. 

2.26    “Non-Qualified Stock Option”
means any Stock Option awarded under the Plan that is not an Incentive Stock Option. 

2.27    “Other Stock-Based Award” means an Award under Article X of the Plan
that is valued in whole or in part by reference to, or is payable in or otherwise based on, Shares. 

2.28    “Parent” means any parent corporation of the Company within the
meaning of Section 424(e) of the Code. 
 2.29    “Participant” means
an Eligible Individual to whom an Award has been granted pursuant to the Plan. 

2.30    “Performance Award” means an Award granted to a Participant pursuant
to Article IX hereof contingent upon achieving certain Performance Goals. 

2.31    “Performance Goals” means goals established by the Committee as
contingencies for Awards to vest and/or become exercisable or distributable. 

2.32    “Performance Period” means the designated period during which the
Performance Goals must be satisfied with respect to the Award to which the Performance Goals relate. 

2.33    “Plan” means this Instructure Holdings, Inc. 2021 Omnibus Incentive
Plan, as amended from time to time. 
 2.34    “Qualified Member” means a
member of the Board who is (a) a “non-employee director” within the meaning of Rule 16b-3(b)(3), and (b) “independent” under the listing
standards or rules of the securities exchange upon which the Common Stock is traded, but only to the extent such independence is required in order to take the action at issue pursuant to such standards or rules. 

2.35    “Restricted Stock” means an Award of Shares under the Plan that is
subject to restrictions under Article VIII. 
 2.36    “Restricted Stock Units” means an
unfunded, unsecured right to receive, on the applicable settlement date, one Share or an amount in cash or other consideration determined by the Committee to be of equal value as of such settlement date, subject to certain vesting conditions and
other restrictions. 
 2.37    “Restriction Period” has the meaning set
forth in Section 8.3(a) with respect to Restricted Stock. 

  
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 2.38    “Rule
16b-3” means Rule 16b-3 under Section 16(b) of the Exchange Act as then in effect or any successor provision. 

2.39     “Section 409A of the Code” means the
nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder. 

2.40    “Securities Act” means the Securities Act of 1933, as amended, and all
rules and regulations promulgated thereunder. Reference to a specific section of the Securities Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section, and any
comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation. 

2.41    “Shares” means shares of Common Stock of the Company. 

2.42    “Stock Appreciation Right” shall mean the right granted pursuant to an
Award granted under Article VII. 
 2.43    “Stock Option” or
“Option” means any option to purchase Shares granted to Eligible Individuals granted pursuant to Article VI. 

2.44    “Subsidiary” means any subsidiary corporation of the Company within
the meaning of Section 424(f) of the Code. 
 2.45    “Ten Percent
Stockholder” means a person owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, its Subsidiaries or its Parent. 

2.46    “Termination of Service” means the termination of the applicable
Participant’s employment with, or performance of services for, the Company and its Affiliates. Unless otherwise determined by the Committee, (a) if a Participant’s employment or services with the Company and its Affiliates terminates
but such Participant continues to provide services to the Company and its Affiliates in a non-employee capacity, such change in status shall not be deemed a Termination of Service with the Company and its
Affiliates and (b) a Participant employed by, or performing services for an Affiliate that ceases to be an Affiliate shall also be deemed to have incurred a Termination of Service provided the Participant does not immediately thereafter become
an employee of the Company or another Affiliate. Notwithstanding the foregoing provisions of this definition, with respect to any Award that constitutes a “nonqualified deferred compensation plan” within the meaning of Section 409A of
the Code, a Participant shall not be considered to have experienced a “Termination of Service” unless the Participant has experienced a “separation from service” within the meaning of Section 409A of the Code. 

  
 7 

 ARTICLE III 

ADMINISTRATION 

3.1    Authority of the Committee. The Plan shall be administered by the Committee. Subject to
the terms of the Plan and Applicable Law, the Committee shall have full authority to grant Awards to Eligible Individuals under the Plan. In particular, the Committee shall have the authority to: 

(a)    determine whether and to what extent Awards, or any combination thereof, are to be granted hereunder to one or more
Eligible Individuals; 
 (b)    determine the number of Shares to be covered by each Award granted hereunder; 

(c)    determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder
(including, but not limited to, the exercise or purchase price (if any), any restriction or limitation, any vesting schedule or acceleration thereof, or any forfeiture restrictions or waiver thereof, regarding any Award and the Shares relating
thereto, based on such factors, if any, as the Committee shall determine, in its sole discretion); 
 (d)    determine
the amount of cash to be covered by each Award granted hereunder; 
 (e)    determine whether, to what extent, and under
what circumstances grants of Options and other Awards under the Plan are to operate on a tandem basis and/or in conjunction with or apart from other awards made by the Company outside of the Plan; 

(f)    determine whether and under what circumstances an Award may be settled in cash, Shares, other property, or a
combination of the foregoing; 
 (g)    determine whether, to what extent and under what circumstances cash, Shares, or
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 Participant; 

(h)    modify, waive, amend, or adjust the terms and conditions of any Award, at any time or from time to time, including
but not limited to Performance Goals; 
 (i)    determine whether a Stock Option is an Incentive Stock Option or Non-Qualified Stock Option; 
 (j)    determine whether to require a Participant, as a
condition of the granting of any Award, to not sell or otherwise dispose of Shares acquired pursuant to the exercise or vesting of an Award for a period of time as determined by the Committee, in its sole discretion, following the date of the
acquisition of such Award or Shares; and 

  
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 (k)    modify, extend, or renew an Award, subject to Article XII and
Section 6.3(l). 
 3.2    Guidelines. Subject to Article XII hereof, the Committee shall have
the authority to adopt, alter, and repeal such administrative rules, guidelines, and practices governing the Plan and perform all acts, including the delegation of its responsibilities (to the extent permitted by Applicable Law and applicable stock
exchange rules), as it shall, from time to time, deem advisable; to construe and interpret the terms and provisions of the Plan and any Award issued under the Plan (and any agreements or sub-plans relating
thereto); and to otherwise supervise the administration of the Plan. The Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or in any agreement relating thereto in the manner and to the extent it shall
deem necessary to effectuate the purpose and intent of the Plan. The Committee may adopt special rules, sub-plans, guidelines, and provisions for persons who are residing in or employed in, or subject to, the
taxes of any domestic or foreign jurisdictions to satisfy or accommodate applicable foreign laws or to qualify for preferred tax treatment of such domestic or foreign jurisdictions. 

3.3    Decisions Final. Any decision, interpretation, or other action made or taken in good faith by
or at the direction of the Company, the Board, or the Committee (or any of its members) arising out of, or in connection with, the Plan shall be within the absolute discretion of all and each of them, as the case may be, and shall be final, binding,
and conclusive on the Company and all employees and Participants and their respective heirs, executors, administrators, successors, and assigns. 

3.4    Procedures. If the Committee is appointed, the Board shall designate one of the members of the
Committee as chairman and the Committee shall hold meetings, subject to the by-laws of the Company, at such times and places as it shall deem advisable, including, without limitation, by telephone conference
or by written consent to the extent permitted by Applicable Law. A majority of the Committee members shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members. Any decision or determination reduced to
writing and signed by all of the Committee members in accordance with the by-laws of the Company, shall be fully effective as if it had been made by a vote at a meeting duly called and held. The Committee
shall keep minutes of its meetings and shall make such rules and regulations for the conduct of its business as it shall deem advisable. 

3.5    Designation of Consultants/Liability; Delegation of Authority. 

(a)    The Committee may designate employees of the Company and professional advisors to assist the Committee in the
administration of the Plan and (to the extent permitted by Applicable Law) may grant authority to officers of the Company to grant Awards and/or execute agreements or other documents on behalf of the Committee. 

(b)    The Committee may employ such legal counsel, consultants, and agents as it may deem desirable for the administration
of the Plan and may rely upon any opinion received from any such counsel or consultant and any computation received from any such consultant or 

  
 9 

 
agent. Expenses incurred by the Committee or the Board in the engagement of any such counsel, consultant, or agent shall be paid by the Company. The Committee, its members, and any person
designated pursuant to sub-section (a) above shall not be liable for any action or determination made in good faith with respect to the Plan. To the maximum extent permitted by Applicable Law, no officer
of the Company or member or former member of the Committee or of the Board shall be liable for any action or determination made in good faith with respect to the Plan or any Award granted under it. 

(c)    The Committee may delegate any or all of its powers and duties under the Plan to a subcommittee of directors or to
any officer of the Company, including the power to perform administrative functions and grant Awards; provided, that such delegation does not (i) violate Applicable Law, or (ii) result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company. Upon any such delegation, all references in the Plan to the “Committee,” shall be
deemed to include any subcommittee or officer of the Company to whom such powers have been delegated by the Committee. Any such delegation shall not limit the right of such subcommittee members or such an officer to receive Awards; provided,
however, that such subcommittee members and any such officer may not grant Awards to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate, or take any action with respect to any Award previously
granted to himself or herself, a member of the Board, or any executive officer of the Company or an Affiliate. The Committee may also appoint agents who are not executive officers of the Company or members of the Board to assist in administering the
Plan, provided, however, that such individuals may not be delegated the authority to grant or modify any Awards that will, or may, be settled in Shares. 

3.6    Indemnification. To the maximum extent permitted by Applicable Law and to the extent not
covered by insurance directly insuring such person, each officer or employee of the Company or any of its Affiliates and member or former member of the Committee or the Board shall be indemnified and held harmless by the Company against any cost or
expense (including reasonable fees of counsel acceptable to the Committee) or liability (including any sum paid in settlement of a claim with the approval of the Committee), and advanced amounts necessary to pay the foregoing at the earliest time
and to the fullest extent permitted, arising out of any act or omission to act in connection with the administration of the Plan, except to the extent arising out of such officer’s, employee’s, member’s, or former member’s own
fraud or bad faith. Such indemnification shall be in addition to any right of indemnification the employees, officers, directors, or members or former officers, directors, or members may have under Applicable Law or under the by-laws of the Company or any of its Affiliates. Notwithstanding anything else herein, this indemnification will not apply to the actions or determinations made by an individual with regard to Awards granted to such
individual under the Plan. 
 ARTICLE IV 

SHARE LIMITATION 

4.1    Shares. The aggregate number of Shares that may be issued or used for reference purposes or
with respect to which Awards may be granted under the Plan shall not exceed 

  
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                     Shares (subject to any increase or decrease pursuant to this Article IV),
which may be either authorized and unissued Shares or Shares held in or acquired for the treasury of the Company or both. The number of Shares that may be issued or used for reference purposes or with respect to which Awards may be granted under the
Plan shall be subject to an annual increase on the first day of each calendar year beginning on the first day of the fiscal year following the year in which the IPO Date occurs, and ending and including the first day of fiscal 2032, equal to the
lesser of (a) 4% of the aggregate number of Shares outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of Shares as is determined by the Board. The aggregate number of Shares that may be issued or
used with respect to any Incentive Stock Option shall not exceed                      Shares (subject to any increase or decrease pursuant to
Section 4.1). The maximum number of Shares subject to Awards granted during a single fiscal year to any Non-Employee Director, taken together with any cash fees paid to such
Non-Employee Director during the fiscal year shall not exceed a total value of $750,000 (calculating the value of any Awards based on the grant date fair value for financial reporting purpose); provided,
however, that a Non-Employee Director may receive Awards and cash fees with a maximum aggregate value of $1,500,000 in such Non-Employee Director’s year of
appointment to the Board. Any Award under the Plan settled in cash shall not be counted against the foregoing maximum share limitations. Any Shares subject to an Award that expires or is canceled, forfeited, or terminated without issuance of the
full number of Shares to which the Award related will again be available for issuance under the Plan. 

4.2    Substitute Awards. In connection with an entity’s merger or consolidation with the Company
or the Company’s acquisition of an entity’s property or stock, the Committee may grant Awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its Affiliate
(“Substitute Awards”). Substitute Awards may be granted on such terms as the Committee deems appropriate, notwithstanding limitations on Awards in the Plan. Substitute Awards will not count against the overall share limit (nor shall
Shares subject to a Substitute Award be added to the Shares available for Awards under the Plan as provided above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that
may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grants pursuant to the terms of such
pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration
payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan (and Shares subject to such Awards shall not
be added to the Shares available for Awards under the Plan as provided above); provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Eligible Employees or Non-Employee Directors prior to such
acquisition or combination. 

  
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 4.3    Adjustments. 

(a)    The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the
Board or the stockholders of the Company to make or authorize (i) any adjustment, recapitalization, reorganization, or other change in the Company’s capital structure or its business, (ii) any merger or consolidation of the Company or
any Affiliate, (iii) any issuance of bonds, debentures, or preferred or prior preference stock ahead of or affecting the Shares, (iv) the dissolution or liquidation of the Company or any Affiliate, (v) any sale or transfer of all or
part of the assets or business of the Company or any Affiliate, or (vi) any other corporate act or proceeding. 

(b)    Subject to the provisions of Section 11.1: 

(i)    If the Company at any time subdivides (by any split, recapitalization or otherwise) the outstanding Shares into a
greater number of Shares, or combines (by reverse split, combination, or otherwise) its outstanding Shares into a lesser number of Shares, then the respective exercise prices for outstanding Awards that provide for a Participant-elected exercise and
the number of Shares covered by outstanding Awards shall be appropriately adjusted by the Committee to prevent dilution or enlargement of the rights granted to, or available for, Participants under the Plan. 

(ii)    Excepting transactions covered by Section 4.3(b)(i), if the Company effects any merger, consolidation,
statutory exchange, spin-off, reorganization, sale or transfer of all or substantially all the Company’s assets or business, or other corporate transaction or event in such a manner that the
Company’s outstanding Shares are converted into the right to receive (or the holders of Common Stock are entitled to receive in exchange therefor), either immediately or upon liquidation of the Company, securities or other property of the
Company or other entity, then, subject to the provisions of Section 11.1, (A) the aggregate number or kind of securities that thereafter may be issued under the Plan, (B) the number or kind of securities or other property (including cash)
to be issued pursuant to Awards granted under the Plan (including as a result of the assumption of the Plan and the obligations hereunder by a successor entity, as applicable), or (C) the exercise or purchase price thereof, shall be
appropriately adjusted by the Committee to prevent dilution or enlargement of the rights granted to, or available for, Participants under the Plan. 

(iii)    If there shall occur any change in the capital structure of the Company other than those covered by
Section 4.3(b)(i) or 4.3(b)(ii), any conversion, any adjustment, or any issuance of any class of securities convertible or exercisable into, or exercisable for, any class of equity securities of the Company, then the Committee shall adjust any
Award and make such other adjustments to the Plan to prevent dilution or enlargement of the rights granted to, or available for, Participants under the Plan. 

(iv)    The Committee may adjust the Performance Goals applicable to any Awards to reflect any unusual or non-recurring events and other extraordinary items, impact of charges for restructurings, discontinued operations, and the cumulative effects of accounting or tax changes, each as defined by generally accepted
accounting principles or as identified in the Company’s financial statements, notes to the financial statements, management’s discussion and analysis, or other Company public filing. 

  
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 (v)    Any such adjustment determined by the Committee pursuant to this
Section 4.3(b) shall be final, binding, and conclusive on the Company and all Participants and their respective heirs, executors, administrators, successors, and permitted assigns. Any adjustment to, or assumption or substitution of, an Award
under this Section 4.3(b) shall be intended to comply with the requirements of Section 409A of the Code and Treasury Regulation §1.424-1 (and any amendments thereto), to the extent applicable.
Except as expressly provided in this Section 4.3 or in the applicable Award Agreement, a Participant shall have no additional rights under the Plan by reason of any transaction or event described in this Section 4.3. 

ARTICLE V 
 ELIGIBILITY

 5.1    General Eligibility. All current and prospective Eligible Individuals are eligible to
be granted Awards. Eligibility for the grant of Awards and actual participation in the Plan shall be determined by the Committee in its sole discretion. 

5.2    Incentive Stock Options. Notwithstanding the foregoing, only Eligible Employees who are
employees of the Company, its Subsidiaries, or its Parents (if any) are eligible to be granted Incentive Stock Options under the Plan. Eligibility for the grant of an Incentive Stock Option and actual participation in the Plan shall be determined by
the Committee in its sole discretion. 
 5.3    General Requirement. The vesting and exercise of
Awards granted to a prospective Eligible Individual are conditioned upon such individual actually becoming an Eligible Employee, Consultant, or Non-Employee Director, as applicable. 

ARTICLE VI 
 STOCK
OPTIONS 
 6.1    Options. Stock Options may be granted alone or in addition to other Awards
granted under the Plan. Each Stock Option granted under the Plan shall be of one of two types: (a) an Incentive Stock Option or (b) a Non-Qualified Stock Option. 

6.2    Grants. The Committee shall have the authority to grant to any Eligible Employee one or more
Incentive Stock Options, Non-Qualified Stock Options, or both types of Stock Options; provided, however, that Incentive Stock Options may only be granted to an Eligible Employee who is an
employee of the Company, its Subsidiaries, or its Parents (if any). The Committee shall have the authority to grant any Consultant or Non-Employee Director one or more
Non-Qualified Stock Options. To the extent that any Stock Option does not qualify as an Incentive Stock Option (whether because of its provisions or the time or manner of its exercise or otherwise), such Stock
Option or the portion thereof which does not so qualify shall constitute a separate Non-Qualified Stock Option. 

  
 13 

 6.3    Terms of Options. Options granted under the
Plan shall be evidenced by an Award Agreement and subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions not inconsistent with the terms of the Plan, as the Committee shall deem
desirable: 
 (a)    Exercise Price. The exercise price per Share subject to a Stock Option shall be determined by
the Committee at the time of grant, provided that the per share exercise price of a Stock Option shall not be less than 100% (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, 110%) of the Fair Market Value at
the time of grant. 
 (b)    Stock Option Term. The term of each Stock Option shall be fixed by the Committee,
provided that no Stock Option shall be exercisable more than ten (10) years (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, five (5) years) after the date the Option is granted. 

(c)    Exercisability. Unless otherwise provided by the Committee in accordance with the provisions of this
Section 6.3, Stock Options granted under the Plan shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. The Committee may, but shall not be required to,
provide for an acceleration of vesting and exercisability in the terms of any Award Agreement upon the occurrence of a specified event. 

(d)    Method of Exercise. Subject to whatever installment exercise and waiting period provisions apply under
Section 6.3(c), to the extent vested, Stock Options may be exercised in whole or in part at any time during the Option term, by giving written notice of exercise (which may be electronic) to the Company specifying the number of Shares to be
purchased. Such notice shall be accompanied by payment in full of the exercise price (which shall equal the product of such number of Shares to be purchased multiplied by the applicable exercise price). The exercise price for the Stock Options may
be paid upon such terms and conditions as shall be established by the Committee and set forth in the applicable Award Agreement. Without limiting the foregoing, the Committee may establish payment terms for the exercise of Stock Options pursuant to
which the Company may withhold a number of Shares that otherwise would be issued to the Participant in connection with the exercise of the Stock Option having a Fair Market Value on the date of exercise equal to the exercise price, or that permit
the Participant to deliver cash or Shares with a Fair Market Value equal to the exercise price on the date of payment, or through a simultaneous sale through a broker of Shares acquired on exercise, all as permitted by Applicable Law. No Shares
shall be issued until payment therefor, as provided herein, has been made or provided for. The Committee may allow, or provide in an Award Agreement, for a Participant to elect at any time before the Participant’s Termination of Service to
exercise the Stock Option as to any part or all of the Shares subject to the Stock Option before the full vesting of the Stock Option and such Shares will be subject to the terms and conditions of Article VI and be treated as shares of
Restricted Stock. Unvested Shares so exercised may be subject to any restrictions the Committee may determine. 

  
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 (e)    Non-Transferability of
Options. No Stock Option shall be transferable by the Participant other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Participant’s lifetime, only by the Participant.
Notwithstanding the foregoing, the Committee may determine, in its sole discretion, at the time of grant or thereafter that a Non-Qualified Stock Option that is otherwise not transferable pursuant to this
Section is transferable to a Family Member in whole or in part and in such circumstances, and under such conditions, as specified by the Committee. A Non-Qualified Stock Option that is transferred to a Family
Member pursuant to the preceding sentence (i) may not be subsequently transferred other than by will or by the laws of descent and distribution and (ii) remains subject to the terms of the Plan and the applicable Award Agreement. Any
Shares acquired upon the exercise of a Non-Qualified Stock Option by a permissible transferee of a Non-Qualified Stock Option or a permissible transferee pursuant to a
transfer after the exercise of the Non-Qualified Stock Option shall be subject to the terms of the Plan and the applicable Award Agreement. 

(f)    Termination by Death or Disability. Unless otherwise provided in the applicable Award Agreement, or otherwise
determined by the Committee at the time of grant or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is by reason of death or Disability, all Stock Options that are held by such Participant
that are vested and exercisable at the time of the Participant’s Termination of Service may be exercised by the Participant (or in the case of the Participant’s death, by the legal representative of the Participant’s estate) at any
time within a period of one (1) year from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options; provided, however, that, in the event of a Participant’s Termination
of Service by reason of Disability, if the Participant dies within such exercise period, all unexercised Stock Options held by such Participant shall thereafter be exercisable, to the extent to which they were exercisable at the time of death, for a
period of one (1) year from the date of such death, but in no event beyond the expiration of the stated term of such Stock Options. 

(g)    Involuntary Termination Without Cause. Unless otherwise provided in the applicable Award Agreement or
otherwise determined by the Committee at the time of grant or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is by involuntary termination by the Company without Cause, all Stock Options that
are held by such Participant that are vested and exercisable at the time of the Participant’s Termination of Service may be exercised by the Participant at any time within a period of ninety (90) days from the date of such Termination of
Service, but in no event beyond the expiration of the stated term of such Stock Options. 
 (h)    Voluntary
Resignation. Unless otherwise provided in the applicable Award Agreement or otherwise determined by the Committee at the time of grant or, if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service is
voluntary (other than a voluntary termination described in Section 6.3(i) hereof), all Stock Options that are held by such Participant that are vested and exercisable at the time of the Participant’s Termination of Service may be exercised
by the Participant at any time within a period of thirty (30) days from the date of such Termination of Service, but in no event beyond the expiration of the stated term of such Stock Options. 

  
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 (i)    Termination for Cause. Unless otherwise provided in the
applicable Award Agreement or determined by the Committee at the time of grant, or if no rights of the Participant are reduced, thereafter, if a Participant’s Termination of Service (x) is for Cause or (y) is a voluntary Termination
of Service (as provided in Section 6.3(h)) after the occurrence of an event that would be grounds for a Termination of Service for Cause, all Stock Options, whether vested or not vested, that are held by such Participant shall thereupon
immediately terminate and expire as of the date of such Termination of Service. 
 (j)    Unvested Stock Options.
Unless otherwise provided in the applicable Award Agreement or determined by the Committee at the time of grant or, if no rights of the Participant are reduced, thereafter, Stock Options that are not vested as of the date of a Participant’s
Termination of Service for any reason shall terminate and expire as of the date of such Termination of Service. 

(k)    Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined as of the
time of grant) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by an Eligible Employee during any calendar year under the Plan and/or any other stock option plan of the Company, any Subsidiary, or any
Parent exceeds $100,000, such Options shall be treated as Non-Qualified Stock Options. In addition, if an Eligible Employee does not remain employed by the Company, any Subsidiary, or any Parent at all times
from the time an Incentive Stock Option is granted until three (3) months prior to the date of exercise thereof (or such other period as required by Applicable Law), such Stock Option shall be treated as a
Non-Qualified Stock Option. Should any provision of the Plan not be necessary in order for the Stock Options to qualify as Incentive Stock Options, or should any additional provisions be required, the
Committee may amend the Plan accordingly, without the necessity of obtaining the approval of the stockholders of the Company. 

(l)    Modification, Extension and Renewal of Stock Options. The Committee may (i) modify, extend, or renew
outstanding Stock Options granted under the Plan (provided that the rights of a Participant are not reduced without such Participant’s consent and provided, further that such action does not subject the Stock Options to
Section 409A of the Code without the consent of the Participant), and (ii) accept the surrender of outstanding Stock Options (to the extent not theretofore exercised) and authorize the granting of new Stock Options in substitution therefor
(to the extent not theretofore exercised). Notwithstanding the foregoing, an outstanding Option may not be modified to reduce the exercise price thereof nor may a new Option at a lower price be substituted for a surrendered Option (other than
adjustments or substitutions in accordance with Article IV), unless such action is approved by the stockholders of the Company. 

(m)    Other Terms and Conditions. The Committee may include a provision in an Award Agreement providing for the
automatic exercise of a Non-Qualified Stock Option on a cashless basis on the last day of the term of such Option if the Participant has failed to exercise the

  
 16 

 
Non-Qualified Stock Option as of such date, with respect to which the Fair Market Value of the Shares underlying the
Non-Qualified Stock Option exceeds the exercise price of such Non-Qualified Stock Option on the date of expiration of such Option, subject to Section 14.4. Stock
Options may contain such other provisions, which shall not be inconsistent with any of the terms of the Plan, as the Committee shall deem appropriate. 

ARTICLE VII 
 STOCK
APPRECIATION RIGHTS 
 7.1    Stock Appreciation Rights. Stock Appreciation Rights shall be
subject to the terms and conditions, not inconsistent with the Plan, determined by the Committee, and the following: 

(a)    Exercise Price. The exercise price per Share subject to a Stock Appreciation Right shall be determined by the
Committee at the time of grant, provided that the per share exercise price of a Stock Appreciation Right shall not be less than 100% of the Fair Market Value at the time of grant.  

(b)    Term. The term of each Stock Appreciation Right shall be fixed by the Committee, but shall not be greater
than ten (10) years after the date the right is granted. 
 (c)    Exercisability. Unless otherwise provided
by the Committee, Stock Appreciation Rights granted under the Plan shall be exercised at such time or times and subject to such terms and conditions as shall be determined by the Committee at the time of grant. If the Committee provides that any
such right is exercisable subject to certain terms and conditions, the Committee may waive those terms and conditions on the exercisability at any time at or after grant in whole or in part. 

(d)    Method of Exercise. Subject to whatever installment and waiting period provisions applied under
Section 7.1(c), Stock Appreciation Rights may be exercised in whole or in part at any time in accordance with the applicable Award Agreement, by given written notice of exercise (which may be electronic) to the Company specifying the number of
Stock Appreciation Rights being exercised. 
 (e)    Payment. Upon the exercise of a Stock Appreciation Right, a
Participant shall be entitled to receive, for each right exercised, up to, but no more than, an amount in cash and/or Shares (as chosen by the Committee in its sole discretion) equal in value to the excess of the Fair Market Value of one
(1) Share on the date that the right is exercised over the Fair Market Value of one (1) Share on the date that the right was awarded to the Participant. 

(f)    Termination. Unless otherwise determined by the Committee at grant or, if no rights of the Participant are
reduced, thereafter, subject to the provisions of the applicable Award Agreement and the Plan, upon a Participant’s Termination of Service for any reason, Stock Appreciation Rights may remain exercisable following a Participant’s
Termination of Service on the same basis as Stock Options would be exercisable following a Participant’s Termination of Service in accordance with the provisions of Sections 6.3(f) through 6.3(j). 

  
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(g)    Non-Transferability. No Stock Appreciation Rights shall be
transferable by the Participant other than by will or by the laws of descent and distribution, and all such rights shall be exercisable, during the Participant’s lifetime, only by the Participant. 

7.2    Automatic Exercise. The Committee may include a term or condition in an Award Agreement
providing for the automatic exercise of a Stock Appreciation Right on a cashless basis on the last day of the term of the Stock Appreciation Right if the Participant has failed to exercise the Stock Appreciation Right as of such date, with respect
to which the Fair Market Value of the Shares underlying the Stock Appreciation Right exceeds the exercise price of such Stock Appreciation Right on the date of expiration of such Stock Appreciation Right, subject to Section 14.4. 

ARTICLE VIII 
 RESTRICTED
STOCK; RESTRICTED STOCK UNITS 
 8.1    Awards of Restricted Stock and Restricted Stock Units.
Shares of Restricted Stock and Restricted Stock Units may be granted alone or in addition to other Awards granted under the Plan. The Committee shall determine the Eligible Individuals to whom, and the time or times at which, grants of Restricted
Stock and/or Restricted Stock Units shall be made, the number of shares of Restricted Stock or Restricted Stock Units to be awarded, the price (if any) to be paid by the Participant (subject to Section 8.2), the time or times within which such
Awards may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of the Awards. The Committee shall determine and set forth in the Award Agreement the terms and conditions for each
Restricted Stock and Restricted Stock Unit Award, subject to the conditions and limitations contained in the Plan, including any vesting or forfeiture conditions during the applicable restriction period. 

The Committee may condition the grant or vesting of Restricted Stock and Restricted Stock Units upon the attainment of specified performance
targets (including, the Performance Goals) or such other factor as the Committee may determine in its sole discretion. 

8.2    Awards and Certificates. Restricted Stock and Restricted Stock Units granted under the Plan
shall be evidenced by an Award Agreement and subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions not inconsistent with the terms of the Plan, as the Committee shall deem desirable:

 (a)    Restricted Stock: 

(i)    Purchase Price. The purchase price of Restricted Stock shall be fixed by the Committee. The purchase price
for shares of Restricted Stock may be zero to the extent permitted by Applicable Law, and, to the extent not so permitted, such purchase price may not be less than par value. 

  
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 (ii)    Legend. Each Participant receiving Restricted Stock
shall be issued a stock certificate in respect of such shares of Restricted Stock, unless the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of shares of Restricted Stock. Such certificate
shall be registered in the name of such Participant, and shall, in addition to such legends required by Applicable Law, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock. 

(iii)    Custody. If stock certificates are issued in respect of shares of Restricted Stock, the Committee may
require that any stock certificates evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed, and that, as a condition of any grant of Restricted Stock, the Participant shall have delivered a duly
signed stock power or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed necessary or appropriate by the Company, which would permit transfer to the Company of all or a
portion of the shares subject to the Restricted Stock Award in the event that such Award is forfeited in whole or part. 

(iv)    Rights as a Stockholder. Except as provided in Section 8.3(a) and this Section 8.2(a) or as
otherwise determined by the Committee in an Award Agreement, the Participant shall have, with respect to the shares of Restricted Stock, all of the rights of a holder of Shares, including, without limitation, the right to receive dividends, the
right to vote such shares, and, subject to and conditioned upon the full vesting of shares of Restricted Stock, the right to tender such shares; provided that the Award Agreement shall specify on what terms and conditions the applicable
Participant shall be entitled to dividends payable on the Shares. 
 (v)    Lapse of Restrictions. If and when
the Restriction Period expires without a prior forfeiture of the Restricted Stock, the certificates for such Shares shall be delivered to the Participant. All legends shall be removed from said certificates at the time of delivery to the
Participant, except as otherwise required by Applicable Law or other limitations imposed by the Committee. 

(b)    Restricted Stock Units: 

(i)    Settlement. The Committee may provide that settlement of Restricted Stock Units will occur upon or as soon
as reasonably practical after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant’s election, in a manner intended to comply with Section 409A of the Code. 

(ii)    Right as a Stockholder. A Participant will have no rights of a stockholder with respect to Shares subject
to any Restricted Stock Unit unless and until Shares are delivered in settlement of the Restricted Stock Units. 

  
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 (iii)    Dividend Equivalents. If the Committee so provides, a
grant of Restricted Stock Units may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in cash or Shares, and subject to the same
restrictions on transferability and forfeitability as the Restricted Stock Units with respect to which the Dividend Equivalents are granted and subject to other terms and conditions as set forth in the Award Agreement. 

8.3    Restrictions and Conditions. 

(a)    Restriction Period. (i) The Participant shall not be permitted to transfer shares of Restricted Stock
awarded under the Plan or vest in Restricted Stock Units during the period or periods set by the Committee (the “Restriction Period”) commencing on the date of such Award, as set forth in the applicable Award Agreement and such
agreement shall set forth a vesting schedule and any event that would accelerate vesting of the Restricted Stock and/or Restricted Stock Units. Within these limits, based on service, attainment of Performance Goals pursuant to
Section 8.3(a)(ii), and/or such other factors or criteria as the Committee may determine in its sole discretion, the Committee may condition the grant or provide for the lapse of such restrictions in installments in whole or in part, or may
accelerate the vesting of all or any part of any Restricted Stock Award or Restricted Stock Unit and/or waive the deferral limitations for all or any part of any Award. 

(ii)    If the grant of shares of Restricted Stock or Restricted Stock Units or the lapse of restrictions or vesting
schedule is based on the attainment of Performance Goals, the Committee shall establish the objective Performance Goals and the applicable vesting percentage applicable to each Participant or class of Participants in the applicable Award Agreement
prior to the beginning of the applicable fiscal year or at such later date as otherwise determined by the Committee and while the outcome of the Performance Goals are substantially uncertain. Such Performance Goals may incorporate provisions for
disregarding (or adjusting for) changes in accounting methods, corporate transactions (including, without limitation, dispositions and acquisitions), and other similar types of events or circumstances. 

(b)    Termination. Unless otherwise provided in the applicable Award Agreement or determined by the Committee at
grant or, if no rights of the Participant are reduced, thereafter, upon a Participant’s Termination of Service for any reason during the relevant Restriction Period, all Restricted Stock or Restricted Stock Units still subject to restriction
will be forfeited in accordance with the terms and conditions established by the Committee at grant or thereafter. 
 ARTICLE IX 

PERFORMANCE AWARDS 

9.1    Performance Awards. The Committee may grant a Performance Award to a Participant payable upon
the attainment of specific Performance Goals either alone or in addition to other Awards granted under the Plan. The Performance Goals to be achieved during the 

  
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Performance Period and the length of the Performance Period shall be determined by the Committee upon the grant of each Performance Award. The conditions for grant or vesting and the other
provisions of Performance Awards (including, without limitation, any applicable Performance Goals) need not be the same with respect to each Participant. Performance Awards may be paid in cash, Shares, other property, or any combination thereof, in
the sole discretion of the Committee as set forth in the applicable Award Agreement. 
 ARTICLE X 

OTHER STOCK-BASED AND CASH AWARDS 

10.1    Other Stock-Based Awards. The Committee is authorized to grant to Eligible Individuals Other Stock-Based Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, including but not limited to, Shares awarded purely as a bonus and not subject to
restrictions or conditions, Shares in payment of the amounts due under an incentive or performance plan sponsored or maintained by the Company, stock equivalent units, and Awards valued by reference to book value of Shares. Other Stock-Based Awards
may be granted either alone or in addition to or in tandem with other Awards granted under the Plan. 
 Subject to the provisions of the
Plan, the Committee shall have authority to determine the Eligible Individuals, to whom, and the time or times at which, such Awards shall be made, the number of Shares to be awarded pursuant to such Awards, and all other conditions of the Awards.
The Committee may also provide for the grant of Shares under such Awards upon the completion of a specified Performance Period. The Committee may condition the grant or vesting of Other Stock-Based Awards upon the attainment of specified Performance
Goals as the Committee may determine, in its sole discretion. 
 10.2    Terms and Conditions. Other
Stock-Based Awards made pursuant to this Article X shall be evidenced by an Award Agreement and subject to the following terms and conditions and shall be in such form and contain such additional terms and conditions not inconsistent with the terms
of the Plan, as the Committee shall deem desirable: 

(a)    Non-Transferability. Subject to the applicable provisions of the
Award Agreement and the Plan, Shares subject to Awards made under this Article X may not be transferred prior to the date on which the Shares are issued or, if later, the date on which any applicable restriction, performance, or deferral period
lapses. 
 (b)    Dividends. Unless otherwise determined by the Committee at the time of the grant of an Award,
subject to the provisions of the Award Agreement and the Plan, the recipient of an Award under this Article X shall not be entitled to receive, currently or on a deferred basis, dividends or Dividend Equivalents in respect of the number of Shares
covered by the Award. 

  
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 (c)    Vesting. Any Award under this Article X and any Shares
covered by any such Award shall vest or be forfeited to the extent so provided in the Award Agreement, as determined by the Committee, in its sole discretion. 

(d)    Price. Shares under this Article X may be issued for no cash consideration. Shares purchased pursuant to a
purchase right awarded under this Article X shall be priced, as determined by the Committee in its sole discretion. 

10.3    Cash Awards. The Committee may from time to time grant Cash Awards to Eligible Individuals in
such amounts, on such terms and conditions, and for such consideration, including no consideration or such minimum consideration as may be required by Applicable Law, as it shall determine in its sole discretion. Cash Awards may be granted subject
to the satisfaction of vesting conditions or may be awarded purely as a bonus and not subject to restrictions or conditions, and if subject to vesting conditions, the Committee may accelerate the vesting of such Awards at any time in its sole
discretion. The grant of a Cash Award shall not require a segregation of any of the Company’s assets for satisfaction of the Company’s payment obligation thereunder. 

ARTICLE XI 
 CHANGE IN
CONTROL PROVISIONS 
 11.1    Benefits. In the event of a Change in Control of the Company, and
except as otherwise provided by the Committee in an Award Agreement, a Participant’s unvested Awards shall not vest automatically and a Participant’s Awards shall be treated in accordance with one or more of the following methods as
determined by the Committee: 
 (a)    Awards, whether or not then vested, shall be continued, be assumed, or have new
rights substituted therefor, as determined by the Committee in a manner consistent with the requirements of Section 409A of the Code, and restrictions to which shares of Restricted Stock or any other Award granted prior to the Change in Control
are subject shall not lapse upon a Change in Control and the Restricted Stock or other Award shall, where appropriate in the sole discretion of the Committee, receive the same distribution as other Shares on such terms as determined by the
Committee; provided that the Committee may decide to award additional Restricted Stock or other Awards in lieu of any cash distribution. Notwithstanding anything to the contrary herein, for purposes of Incentive Stock Options, any assumed or
substituted Stock Option shall comply with the requirements of Treasury Regulation Section 1.424-1 (and any amendment thereto). 

(b)    The Committee, in its sole discretion, may provide for the purchase of any Awards by the Company for an amount of
cash equal to the excess (if any) of the Change in Control Price of the Shares covered by such Awards, over the aggregate exercise price of such Awards; provided, however, that if the exercise price of an Option or Stock Appreciation Right
exceeds the Change in Control Price, such Award may be cancelled for no consideration. 

  
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 (c)    The Committee may, in its sole discretion, terminate all
outstanding and unexercised Stock Options, Stock Appreciation Rights, or any Other Stock-Based Award that provides for a Participant-elected exercise for any or no consideration, effective as of the date of the Change in Control, by delivering
notice of termination to each Participant at least twenty (20) days prior to the date of consummation of the Change in Control, in which case during the period from the date on which such notice of termination is delivered to the consummation
of the Change in Control, each such Participant shall have the right to exercise in full all of such Participant’s Awards that are then outstanding (without regard to any limitations on exercisability otherwise contained in the Award
Agreements), but any such exercise shall be contingent on the occurrence of the Change in Control, and, provided that, if the Change in Control does not take place within a specified period after giving such notice for any reason whatsoever,
the notice and exercise pursuant thereto shall be null and void. 
 (d)    Notwithstanding any other provision herein to
the contrary, the Committee may, in its sole discretion, provide for accelerated vesting or lapse of restrictions, of an Award at any time. 

ARTICLE XII 
 TERMINATION
OR AMENDMENT OF PLAN 
 Notwithstanding any other provision of the Plan, the Board or the Committee may at any time, and from time to
time, amend, in whole or in part, any or all of the provisions of the Plan (including any amendment deemed necessary to ensure that the Company may comply with any Applicable Law), or suspend or terminate it entirely, retroactively or otherwise;
provided, however, that, unless otherwise required by Applicable Law or specifically provided herein, the rights of a Participant with respect to Awards granted prior to such amendment, suspension, or termination may not be impaired without
the consent of such Participant and, provided, further, that without the approval of the holders of the Shares entitled to vote in accordance with Applicable Law, no amendment may be made that would (i) increase the aggregate
number of Shares that may be issued under the Plan (except by operation of Section 4.1); (ii) change the classification of individuals eligible to receive Awards under the Plan; (iii) reduce the exercise price of any Stock Option or
Stock Appreciation Right; (iv) grant a new Stock Option, Stock Appreciation Right, or other Award in substitution for, or upon the cancellation of, any previously granted Stock Option or Stock Appreciation Right that has the effect of reducing
the exercise price thereof; (v) exchange any Stock Option or Stock Appreciation Right for Common Stock, cash, or other consideration when the exercise price per Share under such Stock Option or Stock Appreciation Right exceeds the Fair Market
Value of a Share; or (vi) take any other action that would be considered a “repricing” of a Stock Option or Stock Appreciation Right under the applicable listing standards of the national exchange on which the Common Stock is listed
(if any). Notwithstanding anything herein to the contrary, the Board or the Committee may amend the Plan or any Award Agreement at any time without a Participant’s consent to comply with Applicable Law, including Section 409A of the Code.
The Committee may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Article IV or as otherwise specifically provided herein, no such amendment or other action by the Committee shall impair the rights
of any holder without the holder’s consent. 

  
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 ARTICLE XIII 

UNFUNDED STATUS OF PLAN 

The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payment as to
which a Participant has a fixed and vested interest but which is not yet made to a Participant by the Company, nothing contained herein shall give any such Participant any right that is greater than those of a general unsecured creditor of the
Company. 
 ARTICLE XIV 

GENERAL PROVISIONS 

14.1    Legend. The Committee may require each person receiving Shares pursuant to a Stock Option or
other Award under the Plan to represent to and agree with the Company in writing that the Participant is acquiring the Shares without a view to distribution thereof. In addition to any legend required by the Plan, the certificates for such Shares
may include any legend that the Committee deems appropriate to reflect any restrictions on transfer. All certificates for Shares delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Common Stock is then listed or any national securities exchange system upon whose system the Common Stock is
then quoted, and any Applicable Law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. If the Shares are held in book-entry form, then the book-entry will indicate
any restrictions on such Shares. 
 14.2    Other Plans. Nothing contained in the Plan shall prevent
the Board from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required, and such arrangements may be either generally applicable or applicable only in specific cases. 

14.3    No Right to Employment/Directorship/Consultancy. Neither the Plan nor the grant of any Award
hereunder shall give any Participant or other employee, Consultant or Non-Employee Director any right with respect to continuance of employment, consultancy or directorship by the Company or any Affiliate, nor
shall there be a limitation in any way on the right of the Company or any Affiliate by which an employee is employed or a Consultant or Non-Employee Director is retained to terminate such employment,
consultancy, or directorship at any time. 
 14.4    Withholding of Taxes. A Participant shall be
required to pay to the Company or one of its Affiliates, as applicable, or make arrangements satisfactory to the Company regarding the payment of, any income tax, social insurance contribution or other applicable taxes that are required to be
withheld in respect of an Award. The Committee may (but is not obligated to), in its sole discretion, permit or require a Participant to satisfy all or any portion of the applicable taxes that are required to be withheld with respect to an Award by
(a) the delivery of Shares (which are 

  
 24 

 
not subject to any pledge or other security interest) that have been both held by the Participant and vested for at least six (6) months (or such other period as established from time to
time by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such withholding liability (or portion thereof); (b) having the Company withhold from the
Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant upon the grant, exercise, vesting, or settlement of the Award, as applicable, a number of Shares with an aggregate Fair Market Value equal to the
amount of such withholding liability; or (c) by any other means specified in the applicable Award Agreement or otherwise determined by the Committee. 

14.5    Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan. The
Committee shall determine whether cash, additional Awards, or other securities or property shall be used or paid in lieu of fractional Shares or whether any fractional shares should be rounded, forfeited, or otherwise eliminated. 

14.6    No Assignment of Benefits. No Award or other benefit payable under the Plan shall, except as
otherwise specifically provided by law or permitted by the Committee, be transferable in any manner, and any attempt to transfer any such benefit shall be void, and any such benefit shall not in any manner be liable for or subject to the debts,
contracts, liabilities, engagements, or torts of any person who shall be entitled to such benefit, nor shall it be subject to attachment or legal process for or against such person. 

14.7    Clawback Provisions. All Awards (including any proceeds, gains, or other economic benefit the
Participant actually or constructively receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award) will be subject to any Company clawback policy, including any clawback policy adopted to comply with
Applicable Law (including the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder) as set forth in such clawback policy or the Award Agreement. 

14.8    Listing and Other Conditions. 

(a)    Unless otherwise determined by the Committee, as long as the Common Stock is listed on a national securities
exchange or system sponsored by a national securities association, the issuance of Shares pursuant to an Award shall be conditioned upon such Shares being listed on such exchange or system. The Company shall have no obligation to issue such Shares
unless and until such Shares are so listed, and the right to exercise any Option or other Award with respect to such Shares shall be suspended until such listing has been effected. 

(b)    If at any time counsel to the Company shall be of the opinion that any sale or delivery of Shares pursuant to an
Award is or may in the circumstances be unlawful or result in the imposition of excise taxes on the Company under Applicable Law, the Company shall have no obligation to make such sale or delivery, or to make any application or to effect or to
maintain any qualification or registration under the Securities Act or otherwise, with respect to Shares or Awards, and the right to exercise any Option or other Award shall be suspended until, in the opinion of said counsel, such sale or delivery
shall be lawful or will not result in the imposition of excise taxes on the Company. 

  
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 (c)    Upon termination of any period of suspension under this
Section 14.8, any Award affected by such suspension which shall not then have expired or terminated shall be reinstated as to all Shares available before such suspension and as to Shares which would otherwise have become available during the
period of such suspension, but no such suspension shall extend the term of any Award. 
 (d)    A Participant shall be
required to supply the Company with certificates, representations, and information that the Company requests and otherwise cooperate with the Company in obtaining any listing, registration, qualification, exemption, consent, or approval the Company
deems necessary or appropriate. 
 14.9    Governing Law. The Plan and actions taken in connection
herewith shall be governed and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws. 

14.10    Construction. Wherever any words are used in the Plan in the masculine gender they shall be
construed as though they were also used in the feminine gender in all cases where they would so apply, and wherever words are used herein in the singular form they shall be construed as though they were also used in the plural form in all cases
where they would so apply. 
 14.11    Other Benefits. No Award granted or paid out under the Plan
shall be deemed compensation for purposes of computing benefits under any retirement plan of the Company or its Affiliates or affect any benefit or compensation under any other plan now or subsequently in effect under which the availability or
amount of benefits is related to the level of compensation. 
 14.12    Costs. The Company shall
bear all expenses associated with administering the Plan, including expenses of issuing Shares pursuant to Awards hereunder. 

14.13    No Right to Same Benefits. The provisions of Awards need not be the same with respect to each
Participant, and such Awards to individual Participants need not be the same in subsequent years. 

14.14    Death/Disability. The Committee may in its discretion require the transferee of a Participant
to supply it with written notice of the Participant’s death or Disability and to supply it with a copy of the will (in the case of the Participant’s death) or such other evidence as the Committee deems necessary to establish the validity
of the transfer of an Award. The Committee may also require the agreement of the transferee to be bound by all of the terms and conditions of the Plan. 

14.15    Section 16(b) of the Exchange Act. It is the intent of the Company that the Plan satisfy, and
be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 as promulgated under Section 16 of the Exchange Act so that Participants will be entitled to the

  
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benefit of Rule 16b-3, or any other rule promulgated under Section 16 of the Exchange Act, and will not be subject to short-swing liability under
Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed in this Section 14.15, such provision to the extent possible shall be interpreted and/or deemed amended so
as to avoid such conflict. 
 14.16    Deferral of Awards. The Committee may establish one or more
programs under the Plan to permit selected Participants the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Participant
to payment or receipt of Shares or other consideration under an Award. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts,
Shares or other consideration so deferred, and such other terms, conditions, rules, and procedures that the Committee deems advisable for the administration of any such deferral program. 

14.17    Section 409A of the Code. The Plan and Awards are intended to comply with or be exempt from
the applicable requirements of Section 409A of the Code and shall be limited, construed, and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A of the Code, it shall be paid in a manner that
will comply with Section 409A of the Code, including proposed, temporary, or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. Notwithstanding anything herein
to the contrary, any provision in the Plan that is inconsistent with Section 409A of the Code shall be deemed to be amended to comply with or be exempt from Section 409A of the Code and, to the extent such provision cannot be amended to
comply therewith or be exempt therefrom, such provision shall be null and void. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the
Code is not so exempt or compliant or for any action taken by the Committee or the Company and, in the event that any amount or benefit under the Plan becomes subject to penalties under Section 409A of the Code, responsibility for payment of
such penalties shall rest solely with the affected Participants and not with the Company. Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of “nonqualified deferred compensation” (within the meaning of
Section 409A of the Code) that are otherwise required to be made under the Plan to a “specified employee” (as defined under Section 409A of the Code) as a result of such employee’s separation from service (other than a
payment that is not subject to Section 409A of the Code) shall be delayed for the first six (6) months following such separation from service (or, if earlier, until the date of death of the specified employee) and shall instead be paid (in
a manner set forth in the Award Agreement) upon expiration of such delay period. 
 14.18    Successor and
Assigns. The Plan shall be binding on all successors and permitted assigns of a Participant, including, without limitation, the estate of such Participant and the executor, administrator, or trustee of such estate. 

14.19    Severability of Provisions. If any provision of the Plan shall be held invalid or
unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 

  
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 14.20    Headings and Captions. The headings and
captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not be employed in the construction of the Plan. 

ARTICLE XV 
 EFFECTIVE
DATE OF PLAN 
 The Plan shall become effective on [●], which is the date of its adoption by the Board. 

ARTICLE XVI 
 TERM OF
PLAN 
 No Award shall be granted pursuant to the Plan on or after the tenth (10th) anniversary of the date that the Plan is adopted,
but Awards granted prior to such tenth (10th) anniversary may extend beyond that date. 

  
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