Document:

Financing Transaction Agreement, dated June 2005

 Exhibit 4.11 
 FINANCING TRANSACTION AGREEMENT 
 THIS AGREEMENT is made on June
    , 2005 in the Beijing Municipality among the three parties below. 
 Party A: Beijing Capital
Tourism Group Limited Liability Company 
 Registered address: No. 10, Yabao Road, Chaoyang District, Beijing
Municipality 
 Party B: Home Inns Hotel Management (Beijing) Limited 
 Registered address: No. 3, Yongxiang Lane, Xizhimennei, Beijing 
  

	Party	C: Home Inns & Hotels Management (Hong Kong) Limited 

 Registered address: Unit 2001, The Centrium, No. 60, Wyndham Street, Hong Kong 
 WHEREAS: 
 1. Party A is a body corporate that engages in the principal business of hotels and tourism; Party B is a sino-foreign joint venture that engages in the principal
business of hotel management; Party C is the foreign shareholder of Party B, and it lawfully and effectively holds 95.5% of the equity interests of Party B. 
 2. Party B plans to accelerate the construction of its Home Inns hotel chain within the entire country, and hopes that Party A can provide financial support for the construction of Party B’s Home Inns hotel chain. 
 In order to clearly define the rights and obligations of Parties A, B and C, pursuant to the current laws and regulations that are in force, and based on the principle
of voluntariness, the parties have entered into friendly negotiations and hereby enter into an agreement as follows: 
 1. Amount and Method of
Contribution 
 Party A agrees to contribute an amount of Eighty Million Yuan (RMB 80 million) as financial support towards the construction of Party
B’s Home Inns hotel chain. Form of financial support: entrusted loan. 

 2. Term 
 The term of
the financial support shall be 3 years, starting from the date the amount of contribution referred to in Article 1 herein reaches Party B’s bank account. 
 3. Expenses 
 The interest and other relevant expenses of the financial support shall be borne by Party B in accordance with the
“Entrusted Loan Agreement”. 
 4. Representations, Warranties and Undertakings by Party A 
 (1) Party A is a body corporate that was lawfully incorporated and has the right to undertake the relevant items in this agreement. It has a full legal right to sign and
perform this agreement. 
 (2) Within 30 days of this agreement coming into force, Party A shall sign an “Entrusted Loan Agreement” with Party B
and the bank for an entrusted loan, and shall release the funding contributions in full to Party B according to the timing and amount that are stipulated in the “Entrusted Loan Agreement”. 
 5. Representations, Warranties and Undertakings by Party B and Party C 
 (1) Party B is a body corporate that has been lawfully incorporated and has the right to engage in the relevant items in this agreement. It has a full legal right to sign and perform this agreement. 
 (2) Party C is a lawful shareholder of Party B, and has the right to engage in the relevant items in this agreement. Party C has a full legal right to sign and perform
this agreement. 
 (3) Party C is willing to undertake a joint and several liability for Party B’s repayment obligations under this agreement.

 (4) If Party B is unable to repay the principal and interest and other relevant expenses timely and in full for the funding contributions stipulated under
the “Entrusted Loan Agreement”, the various parties to this agreement may enter into negotiations to extend the repayment period under this agreement and correspondingly arrange for an extension of term under the “Entrusted Loan
Agreement”. If an agreement for an extension of term cannot be reached or if Party B is unable to repay the money in full after the expiration of the extended period, Party A shall have the right to select one of the following methods to
enforce its creditor rights: 
 a) Demand the enforcement of its creditor rights against Party B and/or Party C by means of
judicial proceedings. 
 b) Provided that the laws of People’s Republic of China allow, and provided that the appraised and audited value of the net
assets of Party C is higher than the net book value of the assets under this agreement, Party A shall have the right to regard the principal of the funding contributions as a direct investment in Party C by a third party that it designates according
to a debt-to-shares conversion scheme. At that time, Party C shall issue an additional 11.15% of its shares (based on April 31, 2005, equivalent to 6,318,431 shares) to the third party that is designated by Party A, thus making the third party
that is designated by Party A a lawful shareholder of Party C. 
  

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 c) If the appraised and audited value of the net assets of Party B is higher than the assessed value of Party B of RMB
663,477,155 under this agreement, Party A shall have the right to regard the principal of the funding contributions as the amount that it itself or the third party it designates uses to increase the capital and capitalization of Party B, and the
shares that Party A or the third party that it designates enjoys under the increase in capital and capitalization shall be computed based on the assessed value of Party B, which is RMB 663,477,155. 
 (5) No matter whether option (b) or (c) in the aforesaid item (4) is chosen, Party B and Party C shall guarantee that the shares that are received by
Party A or the third party that Party A designates shall represent their corresponding values. 
 (6) Party B and Party C shall have obtained all the
internal approvals from Party A and/or the third party that Party A designates in relation to its increase in capital and capitalization, and when Party A submits a written request for an increase in capital and capitalization of Party B or Party C,
Party B and Party C shall take all proactive and lawful measures to assist Party A and/or the third party that Party A designates in completing the procedures for the increase in capital and capitalization of Party B or Party C. 
 (7) During the effective period of this agreement, if there are any mergers, splits, dissolutions or termination of business of Party B and/or Party C, Party B and/or
Party C shall notify Party A 30 days in advance. If there are changes to the address, name, legal representative or directors of Party B and/or Party C, Party B and/or Party C shall notify Party A within 7 days of the changes. 
 (8) Prior to the execution of this agreement, no disposals have been made and no pledges have been encumbered regarding the equity interests of Party B and Party C, and
there are no third-party interests that exist in the aforesaid equity interests; furthermore, during the effective period of this agreement, prior to the written consent of Party A, Party B and Party C shall not issue any additional new shares,
transfer shares or reduce its capital under any conditions except the following circumstances: 
 A) Party C increases its capital and capitalization with
regard to any ordinary or preferred shares based on a value that is higher than its C-series value after increase of capital, i.e., at the par value higher than USD 1.5 per share (corresponding to any issue of additional new shares by Party B
at a price higher than RMB 663,477,155), including the issue of shares and listing at a price of more than USD 1.5 per share in overseas securities markets other than in the A-share market in China. 
 B) Share transfer arrangements whereby the shares that is held by Party C’s current shareholder Top Sterling International Limited in Party C is not lower than the
current proportion (at the time of execution of this agreement). 
 Even if there are changes as mentioned above to the equity interests as set out above,
they shall not affect Party A’s rights to increase its capital in Party B or Party C in the event that Party B is unable to repay the principal and interest and other relevant expenses timely and in full for the funding contributions stipulated
under the “Entrusted Loan Agreement”. 
  

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 (9) If any of the aforesaid representations, warranties and undertakings are false, inaccurate or incomplete, and causes
economic loss to Party A, Party B and/or Party C shall undertake joint and several liability to Party A. 
 6. Liabilities for Breach of Agreement

 After this agreement comes into effect, the various parties in this agreement shall perform their obligations that are stipulated in this agreement.
Any party that fails to perform its obligations stipulated in this agreement shall bear the corresponding liabilities for breach of agreement, and shall compensate the other party for any losses that are consequently suffered. If there are any
defects in the aforesaid representations, warranties and undertakings that are made by Party B and/or Party C, regardless of whether such defects result in any losses to Party A, they shall constitute a fundamental breach of this agreement. Apart
from the corresponding obligations to make compensation and/or liabilities for breach of Agreement for Party B and/or Party C, Party B shall repay the entire funding contributions in full to Party A within 15 working days of receiving the written
notice of repayment from Party A. 
 7. Confidentiality 
 The various parties to this agreement acknowledge and confirm that any oral or written information that are exchanged between one another in relation to this agreement shall be treated as confidential information. The various parties shall
uphold the confidentiality of all such information, and prior to obtaining the written consent of the other party, such party shall not disclose any of the relevant information to any third party, except in the following circumstances:
(1) Information that is already made known to the public or will be made known to the public (not being information that is made known to the public due to disclosure by a party that has received the information); (2) the information is
required to be disclosed pursuant to applicable laws and regulations and other relevant supervisory rules and regulations. If the employees of any one of the parties disclose the information, it shall be deemed as a disclosure by the party itself,
and such party shall bear the liabilities for breach of agreement pursuant to this agreement. This article shall remain effective even when this agreement is terminated for any reasons. 
 8. Applicable Laws and Resolution of Disputes 
 (1) The laws of PRC shall be applicable to the execution,
effectiveness, interpretation, performance, modification, termination and dispute resolution for this agreement. 
 (2) In the event that any disputes arise
in the course of interpreting and performing this agreement, the various parties to this agreement shall seek first to resolve the matter through amicable negotiations. If a resolution cannot be reached after negotiations, any one of the parties may
submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration. The arbitration decision shall be final, and shall be binding upon all the parties. 
 (3) In the course of any disputes arising from the interpretation and performance of this agreement and when arbitration is in progress for any of the disputes, apart
from the matter that is in dispute, the various parties to this agreement shall continue to exercise their other rights under this agreement and shall continue to perform their other obligations under this agreement. 
  

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 9. Effectiveness and Other Matters 
 (1) This agreement shall come into effect upon signature by all three parties, Parties A, B and C. 
 (2) If there are any
unresolved matters in this agreement, Parties A, B and C may make written supplementary agreements which shall be annexed to this agreement. The annex to this agreement shall form an indivisible part of this agreement, and shall have the same legal
effectiveness as this agreement. 
 (3) There shall be three counterparts of this agreement, and Parties A, B and C shall each hold one counterpart, and each
of the counterparts shall have the same legal effectiveness. 
 [There is no main text below.] 
  

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 Signature page for the Financial Support Agreement between Beijing Capital Tourism Group Limited Liability Company and
Home Inns Hotel Management (Beijing) Limited together with Home Inns & Hotels Management (Hong Kong) Limited. 
 Party A: Beijing Capital Tourism Group Limited Liability Company 
 [seal: Beijing Capital Tourism Group Limited
Liability Company] 
 Delegated Representative (Signature): /s/ 
 Party B: Home Inns Hotel Management (Beijing) Limited 
 [seal: Home Inns Hotel Management (Beijing)] 
 Delegated Representative (Signature): /s/ 
  

	Party	C: Home Inns & Hotels Management (Hong Kong) Limited 

 [stamp: Home Inns & Hotels Management (Hong Kong) Limited] 
 Delegated
Representative (Signature): /s/ 
  

 - 6 -Employees' Stock Option Plan

 Exhibit 10.1 
 Home Inns & Hotels Management (Hong Kong) Limited 
 EMPLOYEES’ STOCK OPTION PLAN 
  

	1.	Purposes of the Plan 

 The purposes of this Plan
are: 
  

	 	(a)	to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	(b)	to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	(c)	to promote the success of the Company’s business. 

 Stock Purchase Rights may also be granted under the Plan. 
  

	2.	Definitions 

  

			
	“Administrative
Committee”	  	the Board or any of its Committees as shall be administering the Plan in accordance with Section 4 below.
		
	“Applicable Laws”	  	the requirements relating to the administration of stock option plans under any stock exchange or quotation system on which the Ordinary Shares are listed or quoted and the applicable laws of
any country or jurisdiction where Options or Stock Purchase Rights are granted under the Plan.
		
	“Board”	  	the Board of Directors of the Company.
		
	“Committee”	  	a committee of Directors appointed by the Board in accordance with Section 4 below.
		
	“Company”	  	Home Inns & Hotels Management (Hong Kong) Limited, a company incorporated under the laws of Hong Kong Special Administration Region of China.

			
	“Consultant”	  	any person who is engaged by the Company or any Parent or Subsidiary to render consulting or advisory services to such entity.
		
	“Director”	  	a member of the Board.
		
	“Disability”	  	any total and permanent disability which prevents the Service Provider to continue in such capacity.
		
	“Employee”	  	any person, including but not limited to Directors, employed by the Company or any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an Employee in the
case:
		
		  	 (i)      any leave of absence approved by the Company; or

		
		  	 (ii)     transfers between locations of the Company or between the Company, its Parent, any Subsidiary, or any
successor.

		
	“Fair Market Value”	  	as of any date, the value of Ordinary Shares is determined as follows:
		
		  	 (i)      if the Ordinary Shares are listed or publicly traded on any established stock exchange or a
national market system, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day prior to the time of determination, as
reported in The Wall Street Journal or such other resource as the Administrative Committee deems reliable.

  

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		  	 (ii)     if the Ordinary Shares are regularly quoted by a principal recognised securities dealer but selling prices
are not reported, its Fair Market Value shall be the average between the high bid and low asked prices for the Ordinary Shares on the last market trading day prior to the day of determination; or

		
		  	 (iii)    in the absence of an established market for the Ordinary Shares, the Fair Market Value thereof shall be
determined in good faith by the Administrative Committee after consultation with legal and accounting experts as the Administrative Committee may deem advisable.

		
	“Option”	  	a stock option granted pursuant to the Plan.
		
	“Option Agreement”	  	a written or electronic agreement between the Company and an Optionee evidencing the terms and conditions of an individual Option grant. The Option Agreement is subject to the terms and
conditions of the Plan.
		
	“Option Exchange
Program”	  	a program whereby outstanding Options are exchanged for Options with a lower exercise price.
		
	“Optioned Stock”	  	the Ordinary Shares subject to an Option or a Stock Purchase Right.
		
	“Optionee”	  	The holder of an outstanding Option or Stock Purchase Right granted under the Plan.
		
	“Ordinary Shares”	  	The ordinary shares of the Company.
		
	“Parent”	  	Any entity which holds directly or indirectly at least fifty point one percent (50.1%) of the voting equity of the Company.

  

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	“Plan”	  	This Employees’ Stock Option Plan.
		
	“Restricted Stock”	  	Shares of Ordinary Shares acquired pursuant to a grant of a Stock Purchase Right under Section 11 below.
		
	“Securities Act”	  	the _securities exchange legislation of any applicable jurisdiction together with its amendments.
		
	“Service Provider”	  	an Employee, Director or Consultant.
		
	“Share” or “Shares”	  	a share or shares of the Ordinary Shares, as adjusted in accordance with Section 12 below.
		
	“Stock Purchase Right”	  	a right to purchase Ordinary Shares pursuant to Section 11 below.
		
	“Subsidiary”	  	any entity in which the Company holds directly or indirectly fifty point one percent (50.1%) or more of the voting equity.
		
	“Tax Law”	  	The relevant tax legislation of the applicable jurisdiction , as amended.

 Except where otherwise indicated by the context, the masculine gender also shall include the
feminine gender, and the definition of any term herein in the singular also shall include the plural. 
  

	3.	Stock Subject to the Plan 

 Subject to the
provisions of Section 12 of the Plan, the maximum aggregate number of Shares which may be subject to option and sold under the Plan is 4,784,226 Shares and actual aggregate number of shares granted are subject to the benchmark performance being
achieved. At all times during the term of the Plan and while any Option(s) or Stock Purchase Right(s) are outstanding, the Company 
  

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 shall retain as authorized and unissued stock, or as treasury stock, at least the number of Shares from
time to time required under the provisions of the Plan, or otherwise assure itself of its ability to perform its obligations hereunder. 
 If
an Option or Stock Purchase Right expires or terminates for any reason or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, the unpurchased Shares which were subject thereto shall
become available for future grant or sale under the Plan (unless the Plan has terminated). However, Shares that have actually been issued under the Plan, upon exercise of either an Option or Stock Purchase Right, shall not be returned to the Plan
and shall not become available for future distribution under the Plan, except that if Shares of Restricted Stock are repurchased by the Company at their original purchase price and cancelled, such Shares (which will then be authorised but unissued
Shares) shall become available for future grant under the Plan. 
  

	4.	Administration of the Plan 

  

	 	(a)	Administrative Committee 

 The Plan shall be
administered by the Board or a Committee appointed by the Board, which Committee shall be constituted to comply with the Applicable Laws. 
  

	 	(b)	Powers of the Administrative Committee 

 Subject to
the provisions of the Plan and, in the case of a Committee, the specific duties delegated by the Board to such Committee, and subject to the approval of any relevant authorities, the Administrative Committee shall have the authority in its
discretion: 
  

	 	(i)	to determine the Fair Market Value; 

  

	 	(ii)	to select the Service Providers to whom Options and Stock Purchase Rights may from time to time be granted hereunder; 

  

	 	(iii)	to determine the number of Shares to be covered by each such award granted hereunder; 

  

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	 	(iv)	to approve forms of agreement for use under the Plan; 

  

	 	(v)	to determine the terms and conditions, of any Option or Stock Purchase Right granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the
time or times when Option or Stock Purchase Rights may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Option or Stock Purchase
Right or the Ordinary Shares relating thereto, based in each case on such factors as the Administrative Committee, in its sole discretion, shall determine; 

  

	 	(vi)	to determine whether and under what circumstances an Option may be settled in cash under subsection 9(e) below instead of Ordinary Shares; 

  

	 	(vii)	to reduce the exercise price of any Option to the then current Fair Market Value if the Fair Market Value of the Ordinary Shares covered by such Option has declined since the date
the Option was granted; 

  

	 	(viii)	to initiate an Option Exchange Program; 

  

	 	(ix)	to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of qualifying for
preferred tax treatment under foreign tax law; 

  

	 	(x)	to allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to be issued upon exercise of an Option or Stock Purchase Right
that number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections
by Optionees to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrative Committee may deem necessary or advisable; and 

  

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	 	(xi)	to construe and interpret the terms of the Plan and awards granted pursuant to the Plan. 

  

	 	(c)	Effect of Administrative Committee’s Decision 

 All decisions, determinations and interpretations of the Administrative Committee pursuant to the provisions of the Plan shall be final conclusive and binding on all Optionees. 
  

	5.	Eligibility 

  

	 	(a)	Stock Purchase Rights may be granted to Service Providers. 

  

	 	(b)	Neither the Plan nor any Option or Stock Purchase Right shall confer upon any Optionee any right with respect to continuing the Optionee’s relationship as a Service Provider
with the Company, nor shall it interfere in any way with his or her right or the Company’s right to terminate such relationship at any time, with or without cause. 

  

	6.	Term of Plan 

 The Plan shall become effective upon
its adoption by the Board. It shall continue in effect for a term of ten (10) years unless sooner terminated under Section 14 below. 
  

	7.	Term of Option 

 The term of each Option shall be
stated in the Option Agreement; provided, however, that the term shall be no more than ten (10) years from the date of grant thereof. 
  

	8.	Option Exercise Price and Consideration 

  

	 	(a)	The per share exercise price for the Shares to be issued upon exercise of an Option shall be such price as is determined by the Administrative Committee, but may be granted with a
per Share exercise price other than as required above pursuant to a merger or other corporate transaction. 

  

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	 	(b)	The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment, shall be determined by the Administrative Committee. Such
consideration may consist of: 

  

	 	(i)	cash, 

  

	 	(ii)	check payable to the order of the Company, 

  

	 	(iii)	promissory note, 

  

	 	(iv)	other Shares which (x) in the case of Shares acquired upon exercise of an Option, have been owned by the Optionee for more than six (6) months on the date of surrender,
and (y) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option shall be exercised, 

  

	 	(v)	consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or 

  

	 	(vi)	any combination of the foregoing methods of payment. 

 In
making its determination as to the type of consideration to accept, the Administrative Committee shall consider if acceptance of such consideration may be reasonably expected to benefit the Company. 
  

	9.	Exercise of Option 

  

	 	(a)	Procedure for Exercise; Rights as a Shareholder 

 Any Option granted hereunder shall be exercisable according to the terms hereof at such times and under such conditions as determined by the Administrative Committee and set forth in the Option Agreement. Except in the case of Options
granted to Directors and Consultants, Options shall become exercisable at a rate of no less than twenty percent (20%) per year over five (5) years from the date the Options are granted. Unless the Administrative Committee provides
otherwise, vesting of Options granted hereunder to Directors shall be tolled during any unpaid leave of absence. An Option may not be exercised for a fraction of a Share. 
  

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	 	  	An Option shall be deemed exercised when the Company receives: 

  

	 	(i)	written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the Option, and 

  

	 	(ii)	full payment for the Shares with respect to which the Option is exercised. 

  

	 	  	Full payment may consist of any consideration and method of payment authorised by the Administrative Committee and permitted by the Option Agreement and the Plan. Shares issued upon
exercise of an Option shall be issued in the name of the Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or
of a duly authorised transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to
be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 12 below.

  

	 	  	Exercise of an Option in any manner shall result in a decrease in the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the
number of Shares as to which the Option is exercised. 

  

	 	(b)	Termination of Relationship as Service Provider 

  

	 	  	If an Optionee ceases to be a Service Provider, such Optionee may exercise his or her Option within such period of time as is specified in the Option Agreement (of at least thirty
(30) days) to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of the Option as set forth in the Option Agreement). In the absence of a specified time in the Option
Agreement, the Option shall remain exercisable for three (3) months following the Optionee’s termination. If, on the date of termination, the 

  

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	 	  	Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does
not exercise his or her Option within the time specified by the Administrative Committee, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

  

	 	(c)	Disability of Optionee 

  

	 	  	If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period of time as is specified
in the Option Agreement (of at least six (6) months) to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a
specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares
covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall
revert to the Plan. 

  

	 	(d)	Death of Optionee 

  

	 	  	If an Optionee dies while being a Service Provider, the Option may be exercised within such period of time as is specified in the Option Agreement (of at least six (6) months)
to the extent that the Option is vested on the date of death (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement) by the Optionee’s estate or by a person who acquires the right to exercise
the Option by bequest or inheritance. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, at the time of death, the Optionee is
not vested as to the entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option shall terminate, and the Shares covered
by such Option shall revert to the Plan. 

  

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	 	(e)	Buyout Provisions 

  

	 	  	The Administrative Committee may at any time offer to buy out an Option previously granted for a payment in cash or Shares, based on such terms and conditions as the Administrative
Committee shall establish and communicate to the Optionee at the time that such offer is made. 

  

	10.	Non-Transferability of Options and Stock Purchase Rights 

 The Option and Stock Purchase Rights may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of succession and may be exercised, during the lifetime of the Optionee, only
by the Optionee. 
  

	11.	Stock Purchase Rights 

  

	 	(a)	Rights to Purchase 

  

	 	  	Stock Purchase Rights may be issued either alone, in addition to, or in tandem with other awards granted under the Plan and/or cash awards made outside of the Plan. After the
Administrative Committee determines that it will offer Stock Purchase Rights under the Plan, it shall advise the offeree in writing or electronically of the terms, conditions and restrictions related to the offer, including the number of Shares that
such person shall be entitled to purchase, the price to be paid, and the time within which such person must accept such offer. 

  

	 	(b)	Repurchase Option 

  

	 	  	Unless the Administrative Committee determines otherwise, the Restricted Stock purchase agreement shall grant the Company a repurchase option exercisable upon the voluntary or
involuntary termination of the purchaser’s service with the Company for any reason (including death or disability). The purchase price for Shares repurchased pursuant to the Restricted Stock purchase agreement shall be the original price paid
by the purchaser and may be paid by cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall lapse at such rate as the Administrative Committee may determine. Except with respect to Shares purchased Directors

  

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	 	  	and Consultants, the repurchase option shall in no case lapse at a rate of less than 20% per year over five (5) years from the date of purchase. 

 

	 	(c)	Other Provisions 

  

	 	  	The Restricted Stock purchase agreement shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrative Committee
in its sole discretion. 

  

	 	(d)	Rights as a Shareholder 

  

	 	  	Once the Stock Purchase Right is exercised, the purchaser shall have rights equivalent to those of a shareholder and shall be a shareholder when his or her purchase is entered upon
the records of the duly authorised transfer agent of the Company. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Stock Purchase Right is exercised, except as provided in Section 12
below. 

  

	12.	Adjustments Upon Changes in Capitalization, Merger or Asset Sale 

  

	 	(a)	(i) Changes in Capitalization 

  

	 	  	Subject to any required action by the shareholders of the Company, the number of shares of Ordinary Shares covered by each outstanding Option or Stock Purchase Right, and the number
of shares of Ordinary Shares which have been authorised for issuance under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option or
Stock Purchase Right, as well as the price per share of Ordinary Shares covered by each such outstanding Option or Stock Purchase Right, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Ordinary
Shares resulting from a reclassification of the Ordinary Shares, or any other increase or decrease in the number of issued shares of Ordinary Shares effected without receipt of consideration by the Company. The conversion of any convertible
securities of the Company shall not be deemed to have been “effected without receipt of consideration”. Such adjustment shall be made by the Board, 

  

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	 	  	whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Ordinary Shares subject to an Option or Stock Purchase Right.

  

	 	(ii)	Adjustments for Stock Split, Stock Dividend, Etc. 

  

	 	  	For avoidance of doubt, it is further stated if the Company shall at any time increase or decrease the number of its outstanding Shares of Ordinary Shares, or change in any way the
rights and privileges of such Shares by means of the payment of a stock dividend or any other distribution upon such Shares, or through a stock split, subdivision, consolidation, combination, reclassification or recapitalization involving the stock,
then in relation to the Ordinary Shares that is affected by one or more of the above events, the numbers, rights and privileges of the following shall be increased, decreased or changed in like manner as if such Shares had been issued and
outstanding, fully paid and nonassessable at the time of such occurrence: (I) the number of shares of Ordinary Shares as to which Options may be granted under the Plan: and (ii) the Shares included in each outstanding Option granted
hereunder. 

  

	 	(b)	Dissolution or Liquidation 

  

	 	  	In the event of the proposed dissolution or liquidation of the Company, the Administrative Committee shall notify each Optionee as soon as practicable prior to the effective date of
such proposed transaction. The Administrative Committee in its discretion may provide for an Optionee to have the right to exercise his or her Option or Stock Purchase Right until fifteen (15) days prior to such transaction as to all of the
Optioned Stock covered thereby, including Shares as to which the Option or Stock Purchase Right would not otherwise be exercisable. In addition, the Administrative Committee may provide that any Company repurchase option applicable to any Shares
purchased upon exercise of any Option or Stock Purchase Right shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously
exercised, an Option or Stock Purchase Right will terminate immediately prior to the consummation of such proposed action. 

  

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	 	(c)	Merger or Asset Sale 

  

	 	  	In the event of a merger of the Company with or into another corporation, or the sale of substantially all of the assets of the Company, each outstanding Option and Stock Purchase
Right shall be assumed or an equivalent option or right substituted by the successor corporation or Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option or
Stock Purchase Right, the Optionee shall fully vest in and have the right to exercise the Option or Stock Purchase Right as to all of the Optioned Stock, including Shares as to which it would not otherwise be vested or exercisable. If an Option or
Stock Purchase Right becomes fully vested and exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Administrative Committee shall notify the Optionee in writing or electronically that the Option or Stock
Purchase Right shall be fully exercisable for a period of fifteen (15) days from the date of such notice, and the Option or Stock Purchase Right shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option
or Stock Purchase Right shall be considered assumed if, following the merger or sale of assets, the option or right confers the right to purchase or receive, for each Share of Optioned Stock subject to the Option or Stock Purchase Right immediately
prior to the merger of sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Ordinary Shares for each Share held on the effective date of the transaction (and
if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or sale of assets is not solely common
stock of the successor corporation or its Parent, the Administrative Committee may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Option or Stock Purchase Right, for each Share
of Optioned Stock subject to the Option or Stock Purchase right, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Ordinary Shares in the merger or
sale of assets. 

  

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	 	(d)	General Adjustment Rules 

  

	 	  	If any adjustment or substitution provided for in this Section 12 shall result in the creation of a fractional Share under any Option, the Company shall, in lieu of issuing
such fractional Share, pay to the Optionee a cash sum in the amount equal to the product of such fraction multiplied by the Fair Market Value of a Share on the date the fractional Share otherwise would have been issued. 

  

	 	(e)	Determination by Incentive Plan Committee 

  

	 	  	Adjustments under this Section 12 shall be made by the Administrative Committee whose determinations with regard thereto shall be final and binding upon all parties.

  

	13.	Time of Granting Options and Stock Purchase Rights 

 The date of grant of an Option or Stock Purchase Right shall, for all purposes, be the date on which the Administrative Committee makes the determination granting such Option or Stock Purchase Right, or such other date as is determined by
the Administrative Committee. Notice of the determination shall be given to each Service Provider to whom an Option or Stock Purchase Right is so granted within a reasonable time after the date of such grant. 
  

	14.	Amendment and Termination of the Plan 

  

	 	(a)	Amendment and Termination 

  

	 	  	The Board may at any time amend, alter, suspend or terminate the Plan. 

  

	 	(b)	Shareholder Approval 

  

	 	  	The Board shall obtain shareholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws. 

  

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	 	(c)	Effect of Amendment or Termination 

  

	 	  	No amendment, alternation, suspension or termination of the Plan shall impair the rights of any Optionee, unless mutually agreed otherwise in meeting between the Optionee and the
Administrative Committee. Termination of the Plan shall not affect the Administrative Committee’s ability to exercise the powers granted to it hereunder with respect to Options granted under the Plan prior to the date of such termination.

  

	15.	Conditions Upon Issuance of Shares 

  

	 	(a)	Legal Compliance 

  

	 	  	Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance and delivery of such Shares shall comply with Applicable Laws
and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

  

	 	(b)	The payment of cash pursuant to the Plan shall be subject to all Applicable laws, rules and regulations. 

  

	 	(c)	Investment Representations 

  

	 	  	As a condition to the exercise of an Option, the Administrative Committee may require the person exercising such Option to represent and warrant at the time of any such exercise
that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares. 

  

	16.	Inability to Obtain Authority 

 The inability of the
Company to obtain authority from any regulatory body having jurisdiction shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 

 

	17.	General Reservations 

  

	 	(a)	The Company may require any person to whom an Option is granted, as a condition of exercising such Option or receiving Shares pursuant to the Plan, to give written assurances, in
the substance and form satisfactory to the Company and its 

  

 Page 16 

	 	  	counsel, to the effect that such person is acquiring the Shares subject to the Option for his own account for investment and not with any present intention of selling or otherwise
distributing the same, and to such other effects as the Company deems necessary or appropriate in order to comply with applicable securities laws. 

  

	 	(b)	The Administrative Committee may provide that Shares issuable upon the exercise of an Option shall, under certain conditions, be subject to restrictions whereby the Company has a
right of first refusal with respect to such shares, which restrictions may survive an Optionee’s term of employment with the Company. 

  

	18.	Shareholder Approval 

 The Plan shall be subject to
approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such shareholder approval shall be obtained in the degree and manner required under Applicable Laws. 
  

	19.	Information to Optionees and Purchasers 

 The
Company shall provide to each Optionee and to each individual who acquires Shares pursuant to the Plan, not less frequently than annually during the period such Optionee or purchaser has one or more Options or Stock Purchase Rights outstanding, and,
in the case of an individual who acquires Shares pursuant to the plan, during the period such individual owns such Shares, copies of annual financial statements. The Company shall not be required to provide such statements to key employees whose
duties in connection with the Company assure their access to equivalent information. 
  

	20.	Withholding 

 The Company’s obligations to
deliver Shares upon the exercise of an Option or Stock Purchase Right shall be subject to the Optionee’s satisfaction of all applicable federal, state and local income and other tax withholding requirements of applicable jurisdiction.

 At the time an Option is exercised by the Optionee, the Administrative Committee in its sole discretion, may permit the Optionee to pay all
such amounts of tax withholding, or any part thereof, by transferring to the Company, or directing the Company to withhold from Shares 
  

 Page 17 

 otherwise issuable to such Optionee, Shares having a value equal Administrative Committee at such time.
The value of Shares to be withheld shall be based on the Fair Market Value of the Administrative Committee on the date that the amount of tax to be withheld is to be determined. 
  

	21.	Nonexclusivity of the Plan 

 Neither the adoption of
the Plan by the Board nor the submission of the Plan to stockholders of the Company for approval shall be construed as creating any limitations on the power or authority of the Board to adopt such other or additional incentive or other compensation
arrangements of whatever nature as the Board may deem necessary or desirable or preclude or limit the continuation of any other plan, practice or arrangement for the payment of compensation or fringe benefits to the payment of compensation or fringe
benefits to employees generally, or to any class or group of employees, which the Company or any Parent or Subsidiary now has lawfully put into effect, including, without limitation, any retirement, pension, savings and stock purchase plan,
insurance, death and disability benefits and executive short-term incentive plans. 
 - E N D - 
  

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