Document:

EX-10.6

 Exhibit 10.6 

STEALTH BIOTHERAPEUTICS CORP 

Restricted Share Agreement 

2019 Share Incentive Plan 
 This Restricted
Share Agreement (this “Agreement”) is made as of the Grant Date set forth below between Stealth BioTherapeutics Corp, an exempted company incorporated under the laws of the Cayman Islands with registered number 165223 (the
“Company”), and the Participant named below. 
 NOTICE OF GRANT 

 

			
	 Name of Participant (the “Participant”):
	 	
	 Grant Date:
	 	
	Number of restricted ordinary shares, $0.0001 nominal par value per share (the “Ordinary Shares”) awarded (“Restricted Shares”):	 	
	 Vesting Start Date:
	 	

 Vesting Schedule: 
  

			
	 Vesting Date
	  	 Number of Shares that Vest

		  	
	Except as provided herein, all vesting is dependent on the Participant remaining an Eligible Participant on each applicable Vesting Date.

 This Agreement includes this Notice of Grant and the following Exhibits, which are expressly incorporated by reference in
their entirety herein: 
 Exhibit A – General Terms and Conditions 

Exhibit B – 2019 Share Incentive Plan (the “Plan”) 

Please confirm your acceptance of this restricted share award and of the terms and conditions of this Agreement by signing a copy of this Agreement where
indicated below. 
  

					
	 STEALTH BIOTHERAPEUTICS CORP
	 		 	 PARTICIPANT

			
	   
	 		 	   

	 Name:
	 		 	 Name:

	 Title:
	 		 	 Address:

 Restricted Share Agreement 

2019 Share Incentive Plan 

EXHIBIT A 

GENERAL TERMS AND CONDITIONS 

The terms and conditions of the award of Restricted Shares made to the Participant, as set forth in the Notice of Grant that forms part of
this Agreement (the “Notice of Grant”), are as follows: 
 1. Issuance of Restricted Shares. 

(a) The Restricted Shares are issued to the Participant, effective as of the Grant Date (as set forth on the Notice of Grant), in
consideration of services rendered and to be rendered by the Participant to the Company. 
 (b) The Restricted Shares will initially be
issued by the Company by updating the register of members of the Company only, in the name of the Participant. Following the vesting of any Restricted Shares pursuant to Section 2 below, the Company shall, if requested by the Participant, issue
and deliver to the Participant a certificate representing the vested Restricted Shares. The Participant agrees that the Restricted Shares shall be subject to the forfeiture provisions set forth in Section 3 of this Agreement and the
restrictions on transfer set forth in Section 4 of this Agreement. 
 2. Vesting Schedule. The Restricted Shares shall vest in
accordance with the Vesting Schedule set forth in the Notice of Grant (the “Vesting Schedule”). Any fractional number of Restricted Shares resulting from the application of the percentages in the Vesting Schedule shall be rounded
down to the nearest whole number of Restricted Shares. 
 3. Forfeiture of Unvested Restricted Shares Upon Employment Termination. In
the event that the Participant ceases to be an Eligible Participant for any reason or no reason, with or without cause, all of the Restricted Shares that are unvested as of the time of such cessation shall be forfeited and surrendered immediately
and automatically to the Company, for nil value without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to any Restricted Shares that are so forfeited and
surrendered. The Participant shall be an “Eligible Participant” if he or she is an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants or
advisors of which are eligible to receive awards of restricted shares under the Plan. 
 4. Restrictions on Transfer. The Participant
shall not sell, assign, transfer, pledge, hypothecate or otherwise encumber, by operation of law or otherwise (collectively “transfer”) any Restricted Shares, or any interest therein, until such Restricted Shares have vested, except that
the Participant may transfer such Restricted Shares to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant and/or an immediate family member thereof if the Company would be
eligible to use a Form S-8 under the 

 
Securities Act of 1933, as amended (the “Securities Act”) for the registration of the sale of the Restricted Shares to such proposed transferee, provided that the Company shall
not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to the transfer, deliver to the Company a written instrument in form and substance satisfactory to the Company confirming
that such transferee shall be bound by all of the terms and conditions of this Agreement. The Company shall not be required to (i) transfer on its books any of the Restricted Shares which have been transferred in violation of any of the
provisions of this Agreement or (ii) treat as owner of such Restricted Shares or to pay dividends to any transferee to whom such Restricted Shares have been transferred in violation of any of the provisions of this Agreement. 

5. Restrictive Legends. The entry in the register of members of the Company reflecting the issuance of the Restricted Shares in the
name of the Participant shall include a notation upon substantially the following terms: 
 “These shares are subject to forfeiture and
surrender provisions and restrictions on transfer set forth in a certain Restricted Share Agreement between the corporation and the registered owner of these shares (or his or her predecessor in interest), and such Agreement is available for
inspection without charge at the registered office of the Secretary of the company.” 
 6. Rights as a Shareholder. Except as
otherwise provided in this Agreement, for so long as the Participant is the registered owner of the Restricted Shares, the Participant shall have all rights as a shareholder with respect to the Restricted Shares, whether vested or unvested,
including, without limitation, rights to vote the Restricted Shares and act in respect of the Restricted Shares at any meeting of shareholders; provided that the payment of dividends on unvested Restricted Shares shall be deferred until, and shall
only be paid at, such time as the shares vest. 
 7. Provisions of the Plan. This Agreement is subject to the provisions of the Plan,
a copy of which is furnished to the Participant with this Agreement. 
 8. Tax Matters. 

(a) Acknowledgments; Section 83(b) Election. The Participant acknowledges that he or she is responsible for obtaining the advice
of the Participant’s own tax advisors with respect to the acquisition of the Restricted Shares and the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents with respect
to the tax consequences relating to the Restricted Shares. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s tax liability that may arise in connection with the acquisition,
vesting and/or disposition of the Restricted Shares. 
  

 THE PARTICIPANT ACKNOWLEDGES HE OR SHE SHALL NOT MAKE AN ELECTION UNDER SECTION 83(b) OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED. 
 (b) Withholding. The Participant acknowledges and agrees that the Company has the right to
deduct from payments of any kind otherwise due to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the issuance or vesting of the Restricted Shares. At such time as the Participant
is not aware of any material nonpublic information about the Company or the Ordinary Shares, and the Participant is not subject to any restrictions on trading activities on the Ordinary Shares imposed by the Company the Participant shall execute the
instructions set forth in Annex A attached hereto (the “Automatic Sale Instructions”) as the means of satisfying any tax obligation arising in connection with the acquisition, vesting and/or disposition of the Restricted
Shares. If the Participant does not execute the Automatic Sale Instructions prior to an applicable vesting date, then the Participant agrees that if under applicable law the Participant will owe taxes at such vesting date on the portion of the
Restricted Shares then vested the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company. The Company shall not remove the restrictive annotation described in
Section 5 hereof from any Ordinary Shares until it is satisfied that all required withholdings have been made. The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due to the
Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the issuance or vesting of the Restricted Shares. 

9. Agreement in Connection with Initial Public Offering. The Participant agrees, in connection with the initial underwritten public
offering of the Ordinary Shares pursuant to a registration statement under the Securities Act, (i) not to (a) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Ordinary Shares or any other shares or securities of the Company convertible into or exercisable or
exchangeable for Ordinary Shares or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of Ordinary Shares or other shares or securities of the Company, whether any
transaction described in clause (a) or (b) is to be settled by delivery of shares or securities, in cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange
Commission and ending 180 days after the date of the final prospectus relating to the offering (plus up to an additional 34 days to the extent requested by the managing underwriters for such offering in order to address Rule 2711(f) of the National
Association of Securities Dealers, Inc. or any similar successor provision), and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. The
Company may impose stop-transfer instructions with respect to the Ordinary Shares or other shares or securities subject to the foregoing restriction until the end of the “lock-up” period. 

10. Miscellaneous. 
 (a)
Authority of Board. In making any decisions or taking any actions with respect to the matters covered by this Agreement, the Company’s Board of Directors (the “Board”) or any one or more of the committees or
subcommittees of the Board to which the Board delegates its powers in accordance with the terms of the Plan shall have all of the authority and discretion, and shall be subject to all of the protections, provided for in the Plan. All decisions and
actions by the Board or any one or more of its committees or subcommittees to which its powers have been delegated with respect to this Agreement shall be made in its discretion and shall be final and binding on the Participant. 

 (b) No Right to Continued Service. The Participant acknowledges and agrees that,
notwithstanding the fact that the vesting of the Restricted Shares is contingent upon his or her continued service to the Company, this Agreement does not constitute an express or implied promise of a continued service relationship or confer upon
the Participant any rights with respect to a continued service relationship by the Company. 
 (c) Governing Law. This Agreement
shall be construed, interpreted and enforced in accordance with the laws of the Cayman Islands, without regard to any applicable conflicts of law provisions. 

(d) Participant’s Acknowledgments. The Participant acknowledges that (i) he or she has read this Agreement, has received and
read the Plan, and understands the terms and conditions of this Agreement and the Plan, and (ii) that he or she agrees that in accepting this award, he or she will be bound by any clawback policy that the Company has in effect or may adopt in
the future. 

 Annex A 

Automatic Sale Instructions 

The undersigned hereby consents and agrees that any taxes due on a vesting date as a result of the vesting of Restricted Shares on such date
shall be paid through an automatic sale of shares as follows: 
 (a) Upon any vesting of any Restricted Shares pursuant to
Section 2 hereof, the Company shall arrange for the sale of such number of the Restricted Shares no longer subject to the transferability restrictions and forfeiture provisions under Section 3 and 4 as is sufficient to generate net
proceeds sufficient to satisfy the Company’s withholding obligations, in accordance with the Plan, with respect to the income recognized by the Participant upon the lapse of the transfer restrictions and forfeiture provisions, and the Company
shall retain the net proceeds from such sale in satisfaction of such tax withholding obligations. 
 (b) The Participant hereby appoints the
Chief Financial Officer of the Company his attorney in fact to arrange for the sale of the Participant’s shares in accordance with this Annex A. The Participant agrees to execute and deliver such documents, instruments and certificates
as may reasonably be required in connection with the sale of the Shares pursuant to this Annex A. 
 (c) The Participant represents
to the Company that, as of the date hereof, he or she is not aware of any material nonpublic information about the Company or the Ordinary Shares. The Participant and the Company have structured this Agreement, including this Annex A, to
qualify for the affirmative defense to liability under Section 10(b) of the Securities Exchange Act of 1934 under Rule 10b5-1(c) promulgated under such Act. 

The Company shall not remove the restrictive annotation described in Section 5 hereof from any Ordinary Shares until it is satisfied that
all required withholdings have been made. 
  

	
	
	_____________________________________
	
	 Participant Name:
                                         
   

	
	 Date:
                                         
                       

 EXHIBIT B 

2019 SHARE INCENTIVE PLANEX-10.16

 Exhibit 10.16 

STEALTH BIOTHERAPEUTICS CORP 
 2019
EMPLOYEE SHARE PURCHASE PLAN 
 The purpose of this Plan is to provide eligible employees of Stealth BioTherapeutics Corp, an exempted
company incorporated under the laws of the Cayman Islands with registered number 165223 (the “Company”) and certain of its subsidiaries with opportunities to purchase shares of the Company’s ordinary shares, $0.0003 nominal par value
(the “Ordinary Shares”), commencing at such time and on such dates as the Company’s Board of Directors (the “Board”) shall determine. Subject to adjustment under Section 15 hereof, the number Ordinary Shares in the
aggregate that have been approved for this purpose is the sum of: 
 (a) 3,972,565 Ordinary Shares; plus 

(b) an annual increase to be added on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2020 and
continuing for each fiscal year until and including the fiscal year ending on December 31, 2030, equal to the least of (i) 7,945,130 Ordinary Shares, (ii) 1% of the outstanding shares on such date and (iii) an amount determined by the
Board. 
 This Plan is intended to qualify as an “employee stock purchase plan” as defined in Section 423 of the United
States Internal Revenue Code of 1986, as amended (the “Code”), and the regulations issued thereunder, and shall be interpreted consistent therewith. 

1. Administration. The Plan will be administered by the Board or by a Committee appointed by the Board (the “Committee”). The
Board or the Committee has authority to make rules and regulations for the administration of the Plan and its interpretation and decisions with regard thereto shall be final and conclusive. 

2. Eligibility. All employees of the Company and all employees of any subsidiary of the Company (as defined in Section 424(f) of
the Code) designated by the Board or the Committee from time to time (a “Designated Subsidiary”), are eligible to participate in any one or more of the offerings of Options (as defined in Section 9) to purchase Ordinary Shares under
the Plan provided that: 
 (a) they are customarily employed by the Company or a Designated Subsidiary for more than 20 hours
a week and for more than five months in a calendar year; 
 (b) they have been employed by the Company or a Designated
Subsidiary for at least three months prior to enrolling in the Plan; and 
 (c) they are employees of the Company or a
Designated Subsidiary on the first day of the applicable Plan Period (as defined below). 
 No employee may be granted an Option hereunder
if such employee, immediately after the Option is granted, owns 5% or more of the total combined voting power or value of the shares of the Company or any subsidiary. For purposes of the preceding sentence, the attribution rules of
Section 424(d) of the Code shall apply in determining the share ownership of an employee, and all shares that the employee has a contractual right to purchase shall be treated as shares owned by the employee. 

  
 - 1 - 

 The Company retains the discretion to determine which eligible employees may participate in
an offering pursuant to and consistent with Treasury Regulation Sections 1.423-2(e) and (f). 
 3.
Offerings. The Company will make one or more offerings (“Offerings”) to employees to purchase shares under this Plan. Offerings will begin at such time and on such dates as determined by the Board or the Committee or the first
business day thereafter (such dates, the “Offering Commencement Dates”). Each Offering Commencement Date will begin a six-month plan period (a “Plan Period”) during which payroll deductions
will be made and held for the purchase of fully paid Ordinary Shares at the end of the Plan Period. The Board or the Committee may, at its discretion, choose a different Plan Period of not more than twelve (12) months for Offerings. 

4. Participation. An employee eligible on the Offering Commencement Date of any Offering may participate in such Offering by completing
and forwarding either a written or electronic payroll deduction authorization form to the employee’s appropriate payroll office at least 14 days (or such other number of days as is determined by the Company) prior to the applicable Offering
Commencement Date. The form will authorize a regular payroll deduction from the Compensation received by the employee during the Plan Period. Unless an employee files a new form or withdraws from the Plan, his or her deductions and purchases will
continue at the same rate for future Offerings under the Plan as long as the Plan remains in effect. The term “Compensation” means the amount of money reportable on the employee’s Federal Income Tax Withholding Statement (or analogous
non-US statement), excluding overtime, shift premium, incentive or bonus awards, allowances and reimbursements for expenses such as relocation allowances for travel expenses, income or gains associated with
the grant or vesting of restricted shares, income or gains on the exercise of Company options or share appreciation rights, and similar items, whether or not shown or separately identified on the employee’s Federal Income Tax Withholding
Statement (or analogous non-US statement), but including, in the case of salespersons, sales commissions to the extent determined by the Board or the Committee. 

5. Deductions. The Company will maintain payroll deduction accounts for all participating employees. With respect to any Offering made
under this Plan, an employee may authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum of 15% of the Compensation he or she receives during the Plan Period or such shorter period during which deductions from
payroll are made. The Board or the Committee may, at its discretion, designate a lower maximum contribution rate. The minimum payroll deduction is such percentage of Compensation as may be established from time to time by the Board or the Committee.

 6. Deduction Changes. An employee may decrease or discontinue his or her payroll deduction once during any Plan Period, by filing
either a written or electronic new payroll deduction authorization form, as determined by the Company. However, an employee may not increase his or her payroll deduction during a Plan Period. If an employee elects to discontinue his or her payroll
deductions during a Plan Period, but does not elect to withdraw his or her funds pursuant to Section 8 hereof, funds deducted prior to his or her election to discontinue will be applied to the purchase of Ordinary Shares on the Exercise Date
(as defined below). 

  
 - 2 - 

 7. Interest. Interest will not be paid on any employee accounts, except to the extent
that the Board or the Committee, in its sole discretion, elects to credit employee accounts with interest at such rate as it may from time to time determine. 

8. Withdrawal of Funds. An employee may at any time prior to the close of business on the fifteenth business day (or such other number
of days as is determined by the Company) prior to the end of a Plan Period and for any reason permanently draw out the balance accumulated in the employee’s account and thereby withdraw from participation in an Offering. Partial withdrawals are
not permitted. The employee may not begin participation again during the remainder of the Plan Period during which the employee withdrew his or her balance. The employee may participate in any subsequent Offering in accordance with terms and
conditions established by the Board or the Committee. 
 9. Purchase of Shares. 

(a) Number of Shares. On the Offering Commencement Date of each Plan Period, the Company will grant to each eligible employee who is
then a participant in the Plan an option (an “Option”) to purchase on the last business day of such Plan Period (the “Exercise Date”) at the applicable purchase price (the “Option Price”) up to a whole number of
Ordinary Shares determined by multiplying $2,083 by the number of full months in the Plan Period and dividing the result by the closing price (as determined below) on the Offering Commencement Date; provided, however, that no employee may be granted
an Option which permits his or her rights to purchase Ordinary Shares under this Plan and any other employee share purchase plan (as defined in Section 423(b) of the Code) of the Company and its subsidiaries, to accrue at a rate which exceeds
$25,000 of the fair market value of such Ordinary Share (determined at the date such Option is granted) for each calendar year in which the Option is outstanding at any time; and, provided, further, however, that the Committee may, in its
discretion, set a fixed maximum number of Ordinary Shares that each eligible employee may purchase per Plan Period, which number may not be greater than the number of Ordinary Shares determined by using the formula in the first clause of this
Section 9(a) and which number shall be subject to the second clause of this Section 9(a). 
 (b) Option Price. The Board or
the Committee shall determine the Option Price for each Plan Period, including whether such Option Price shall be determined based on the lesser of the closing price of the Ordinary Shares on (i) the first business day of the Plan Period or
(ii) the Exercise Date, or shall be based solely on the closing price of the Ordinary Shares on the Exercise Date; provided, however, that such Option Price shall be at least 85% of the applicable closing price. In the absence of a
determination by the Board or the Committee, the Option Price will be 85% of the lesser of the closing price of the Ordinary Shares on (i) the first business day of the Plan Period and (ii) the Exercise Date. The closing price shall be
(a) the closing price (for the primary trading session) on any national securities exchange on which the Ordinary Shares are listed or (b) the average of the closing bid and asked prices in the over-the-counter-market, whichever is applicable, as published in The Wall Street Journal or another source selected by the Board or the Committee. If no sales of Ordinary Shares were made on such a
day, the price of the Ordinary Shares shall be the reported price for the next preceding day on which sales were made. 

  
 - 3 - 

 (c) Exercise of Option. Each employee who continues to be a participant in the Plan
on the Exercise Date shall be deemed to have exercised his or her Option at the Option Price on such date and shall be deemed to have purchased from the Company the number of whole Ordinary Shares reserved for the purpose of the Plan that his or her
accumulated payroll deductions on such date will pay for, but not in excess of the maximum numbers determined in the manner set forth above. 

(d) Return of Unused Payroll Deductions. Any balance remaining in an employee’s payroll deduction account at the end of a Plan
Period will be automatically refunded to the employee, except that any balance that is less than the purchase price of one Ordinary Share will be carried forward into the employee’s payroll deduction account for the following Offering, unless
the employee elects not to participate in the following Offering under the Plan, in which case the balance in the employee’s account shall be refunded. 

10. Issuance of Certificates. Certificates representing Ordinary Shares purchased under the Plan may be issued only (and at the sole
discretion of the Company) in the name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or (in the Company’s sole discretion) in the name of a brokerage firm, bank, or
other nominee holder designated by the employee. The Company shall, in compliance with applicable laws, update the register of members of the Company in respect of the issued shares. 

11. Rights on Retirement, Death or Termination of Employment. If a participating employee’s employment ends before the last
business day of a Plan Period, no payroll deduction shall be taken from any pay then due and owing to the employee and the balance in the employee’s account shall be paid to the employee. In the event of the employee’s death before the
last business day of a Plan Period, the Company shall, upon notification of such death, pay the balance of the employee’s account (a) to the executor or administrator of the employee’s estate or (b) if no such executor or
administrator has been appointed to the knowledge of the Company, to such other person(s) as the Company may, in its discretion, designate. If, before the last business day of the Plan Period, the Designated Subsidiary by which an employee is
employed ceases to be a subsidiary of the Company, or if the employee is transferred to a subsidiary of the Company that is not a Designated Subsidiary, the employee shall be deemed to have terminated employment for the purposes of this Plan. 

12. Optionees Not Shareholders. Neither the granting of an Option to an employee nor the deductions from his or her pay shall make such
employee a shareholder of the Ordinary Shares covered by an Option under this Plan until he or she has purchased and received such shares. 

13. Options Not Transferable. Options under this Plan are not transferable by a participating employee other than by will or the laws
of descent and distribution, and are exercisable during the employee’s lifetime only by the employee. 

  
 - 4 - 

 14. Application of Funds. All funds received or held by the Company under this Plan
may be combined with other corporate funds and may be used for any corporate purpose. 
 15. Adjustment for Changes in Ordinary Shares
Certain Other Events. 
 (a) Changes in Capitalization. In the event of any share split, reverse share split, share
consolidation, share dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of
Ordinary Shares other than an ordinary cash dividend, (i) the number and class of shares or securities available under this Plan, (ii) the share limitations set forth in Section 9, and (iii) the Option Price shall be equitably
adjusted to the extent determined by the Board or the Committee. 
 (b) Reorganization Events. 

(1) Definition. A “Reorganization Event” shall mean: (a) any merger or consolidation of the Company with or into
another entity as a result of which all of the Ordinary Shares of the Company are converted into or exchanged for the right to receive cash, shares, securities or other property or are cancelled, (b) any transfer or disposition of all of the
Ordinary Shares of the Company for cash, shares, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company. 

(2) Consequences of a Reorganization Event on Options. In connection with a Reorganization Event, the Board or the Committee may take
any one or more of the following actions as to outstanding Options on such terms as the Board or the Committee determines: (i) provide that Options shall be assumed, or substantially equivalent Options shall be substituted, by the acquiring or
succeeding corporation (or an affiliate thereof), (ii) upon written notice to employees, provide that all outstanding Options will be terminated immediately prior to the consummation of such Reorganization Event and that all such outstanding Options
will become exercisable to the extent of accumulated payroll deductions as of a date specified by the Board or the Committee in such notice, which date shall not be less than ten (10) days preceding the effective date of the Reorganization
Event, (iii) upon written notice to employees, provide that all outstanding Options will be cancelled as of a date prior to the effective date of the Reorganization Event and that all accumulated payroll deductions will be returned to
participating employees on such date, (iv) in the event of a Reorganization Event under the terms of which holders of Ordinary Shares will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event
(the “Acquisition Price”), change the last day of the Plan Period to be the date of the consummation of the Reorganization Event and make or provide for a cash payment to each employee equal to (A) (i) the Acquisition Price times
(ii) the number of Ordinary Shares that the employee’s accumulated payroll deductions as of immediately prior to the Reorganization Event could purchase at the Option Price, where the Acquisition Price is treated as the fair market value
of the Ordinary Shares on the last day of the applicable Plan Period for purposes of determining the Option Price under Section 9(b) hereof, and where the number of shares that could be purchased is subject to the limitations set forth in
Section 9(a), minus (B) the result of multiplying such number of shares by such Option Price, (v) provide that, in connection with a liquidation or dissolution of the Company, Options shall convert into the right to receive
liquidation proceeds (net of the Option Price thereof) and (vi) any combination of the foregoing. 

  
 - 5 - 

 For purposes of clause (i) above, an Option shall be considered assumed if, following
consummation of the Reorganization Event, the Option confers the right to purchase, for each Ordinary Share subject to the Option immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other
property) received as a result of the Reorganization Event by holders of Ordinary Shares for each Ordinary Share held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type
of consideration chosen by the holders of a majority of the outstanding Ordinary Shares); provided, however, that if the consideration received as a result of the Reorganization Event is not solely ordinary shares of the acquiring or succeeding
corporation or company (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation or company, provide for the consideration to be received upon the exercise of Options to consist solely of such number of
ordinary shares of the acquiring or succeeding corporation or company (or an affiliate thereof) that the Board determines to be equivalent in value (as of the date of such determination or another date specified by the Board) to the per share
consideration received by holders of outstanding Ordinary Shares as a result of the Reorganization Event. 
 16. Amendment of the
Plan. The Board may at any time, and from time to time, amend or suspend this Plan or any portion thereof, except that (a) if the approval of any such amendment by the shareholders of the Company is required by Section 423 of the Code,
such amendment shall not be effected without such approval, and (b) in no event may any amendment be made that would cause the Plan to fail to comply with Section 423 of the Code. 

17. Insufficient Shares. If the total number of Ordinary Shares specified in elections to be purchased under any Offering plus the
number of shares purchased under previous Offerings under this Plan exceeds the maximum number of shares issuable under this Plan, the Board or the Committee will allot and issue the shares then available on a
pro-rata basis. 
 18. Termination of the Plan. This Plan may be terminated at any time by
the Board. Upon termination of this Plan all amounts in the accounts of participating employees shall be promptly refunded. 
 19.
Governmental Regulations. The Company’s obligation to sell and deliver Ordinary Shares under this Plan is subject to listing on a national stock exchange (to the extent the Ordinary Shares are then so listed or quoted) and the approval
of all governmental authorities required in connection with the authorization, issuance or sale of such Ordinary Shares. 
 20. Governing
Law. The Plan shall be governed by the laws of the Cayman Islands. 
 21. Issuance of Shares. Shares may be issued upon exercise
of an Option from authorized but unissued Ordinary Shares, from shares transferred in the treasury of the Company, or from any other proper source. 

  
 - 6 - 

 22. Notification upon Sale of Shares. Each employee agrees, by entering the Plan, to
promptly give the Company notice of any disposition of shares purchased under the Plan where such disposition occurs within two years after the date of grant of the Option pursuant to which such shares were purchased. 

23. Grants to Employees in Foreign Jurisdictions. The Company may, to comply with the laws of a foreign jurisdiction, grant Options to
employees of the Company or a Designated Subsidiary who are citizens or residents of such foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens (within the meaning of
Section 7701(b)(1)(A) of the Code)) with terms that are less favorable (but not more favorable) than the terms of Options granted under the Plan to employees of the Company or a Designated Subsidiary who are resident in the United States.
Notwithstanding the preceding provisions of this Plan, employees of the Company or a Designated Subsidiary who are citizens or residents of a foreign jurisdiction (without regard to whether they are also citizens of the United States or resident
aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded from eligibility under the Plan if (a) the grant of an Option under the Plan to a citizen or resident of the foreign jurisdiction is prohibited under the
laws of such jurisdiction or (b) compliance with the laws of the foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code. The Company may add one or more appendices to this Plan describing the
operation of the Plan in those foreign jurisdictions in which employees are excluded from participation or granted less favorable Options. 

25. Authorization of Sub-Plans. The Board may from time to time establish one or more sub-plans under the Plan with respect to one or more Designated Subsidiaries, provided that such sub-plan complies with Section 423 of the Code. 

26. Withholding. If applicable tax laws impose a tax withholding obligation, each affected employee shall, no later than the date of
the event creating the tax liability, make provision satisfactory to the Board for payment of any taxes required by law to be withheld in connection with any transaction related to Options granted to or shares acquired by such employee pursuant to
the Plan. The Company may, to the extent permitted by law, deduct any such taxes from any payment of any kind otherwise due to an employee. 

27. Effective Date and Approval of Shareholders. The Plan shall become effective immediately prior to the effectiveness of the
Company’s registration statement with respect to its initial public offering, subject to approval by the shareholders of the Company as required by Section 423 of the Code, which approval must occur within twelve months of the adoption of
the Plan by the Board. 
  

	
	Adopted by the Board of Directors
	
	on January 11, 2019
	
	 Approved by the shareholders on
 January 25,
2019

  
 - 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]