Document:

EX-10.57

 EXHIBIT 10.57 

THE GOLDMAN SACHS GROUP, INC. 

        YEAR-END
PERFORMANCE-BASED RSU AWARD 
 This Award Agreement, together with The Goldman Sachs Amended and
Restated Stock Incentive Plan (2018) (the “Plan”), governs your award of performance-based RSUs (your “Award” or “PSUs”). You should read carefully this entire Award Agreement, which includes the Award Statement, any
attached Appendix and the signature card. 
 ACCEPTANCE 

1. You Must Decide Whether to Accept this Award Agreement. To be eligible to receive your Award, you must by the date specified
(a) open and activate an Account and (b) agree to all the terms of your Award by executing the related signature card in accordance with its instructions. By executing the signature card, you confirm your agreement to all of the
terms of this Award Agreement, including the arbitration and choice of forum provisions in Paragraph 17. 
 DOCUMENTS
THAT GOVERN YOUR AWARD; DEFINITIONS 
 2. The
Plan. Your Award is granted under the Plan, and the Plan’s terms apply to, and are a part of, this Award Agreement. 

3. Your Award Statement. The Award Statement delivered to you contains some of your Award’s specific terms. For
example, it contains the number of PSUs subject to this Award, the Performance Period and the Performance Goal applicable to your Award. [It also contains the Determination Date and the Settlement Date for your Award and the Transferability Date for
any Shares at Risk that may be delivered to you in respect of any Settlement Amount that you may earn.] The number of PSUs on your Award Statement is not necessarily the number of PSUs in respect of which the Settlement Amount will be earned, but is
merely the basis for determining the amount (if any) that will be delivered to you. 
 4. Definitions. Capitalized
terms are defined in the Award Statement or the Definitions Appendix, which also includes terms that are defined in the Plan. 
 VESTING
OF YOUR PSUS 
 5. Vesting. Your PSUs are Vested. When a PSU is Vested,
it means only that your continued active Employment is not required to earn delivery in respect of that PSU. Vesting does not mean you have a non-forfeitable right to the Vested portion of your
Award. The terms of this Award Agreement (including conditions to delivery and satisfaction of the Performance Goal) continue to apply to your Award, and failure to meet such terms may result in the termination of this Award (as a result of which no
delivery in respect of such Vested PSUs would be made). 
 PERFORMANCE GOAL 

6. Performance. The Settlement Amount is dependent, and may vary based, on achievement of the Performance Goal over the
Performance Period. On the Determination Date, the Firm will determine whether or not, and to what extent, the Performance Goal for that Performance Period has been satisfied. All your rights with respect to the Settlement Amount (and any Dividend
Equivalent Payments) are dependent on the extent to which the Performance Goal is achieved, and any rights to delivery in respect of your Outstanding PSUs immediately will terminate and no Settlement Amount will be delivered in respect of such PSUs
upon the Committee’s determination, in its sole discretion, that the Performance Goal has not been satisfied to the extent necessary to result in delivery in respect of the PSUs. 

 SETTLEMENT AMOUNT 

7. Settlement. 

(a) In General. Subject to satisfaction of the terms of this Award, including satisfaction of the Performance Goal, on the Settlement
Date, you will receive delivery (less applicable withholding as described in Paragraph 14(a)) of the Settlement Amount and payment of any Dividend Equivalent Payments as further described in this Award Agreement and in your Award Statement. Until
such delivery and payment, you have only the rights of a general unsecured creditor and you do not have any rights as a shareholder of GS Inc. with respect to either the PSUs or the Settlement Amount. Without limiting the Committee’s authority
under Section 1.3.2(h) of the Plan, the Firm may accelerate any Settlement Date by up to 30 days. 
 (b) [Form of Delivery. The
Settlement Amount will be delivered as follows: 
 (i)     % in the form of cash that will be paid on the
Settlement Date. 
 (ii)     % in the form of Shares at Risk. 

(c) Shares at Risk. All of the Shares delivered (after application of tax withholding) to you in respect of the Settlement Amount will
be Shares at Risk subject to Transfer Restrictions until the Transferability Date. Any purported sale, exchange, transfer, assignment, pledge, hypothecation, fractionalization, hedge or other disposition in violation of the Transfer Restrictions on
Shares at Risk will be void. Within 30 Business Days after the Transferability Date listed on your Award Statement (or any other date on which the Transfer Restrictions are to be removed), GS Inc. will remove the Transfer Restrictions. The Committee
or the SIP Committee may select multiple dates within such 30-Business-Day period on which to remove Transfer Restrictions for all or a portion of the Shares at Risk
with the same Transferability Date listed on the Award Statement, and all such dates will be treated as a single Transferability Date for purposes of this Award.] 

DIVIDEND EQUIVALENT RIGHTS 

8. Dividend Equivalent Rights. To the extent described in your Award Statement, each PSU will include a Dividend
Equivalent Right, which will be subject to the provisions of Section 2.8 of the Plan. Accordingly, for each of your Outstanding PSUs with respect to which delivery is made under the Settlement Amount, you will be entitled to payments under
Dividend Equivalent Rights equal to any regular cash dividend paid by GS Inc. in respect of a Share the record date for which occurs on or after the Date of Grant. The payment to you of amounts under Dividend Equivalent Rights (less applicable
withholding as described in Paragraph 14(a)) is conditioned upon the delivery under the Settlement Amount in respect of the PSUs to which such Dividend Equivalent Rights relate, and you will have no right to receive any Dividend Equivalent Payments
relating to PSUs for which you do not receive delivery under the Settlement Amount (including, without limitation, due to a failure to satisfy the Performance Goal). Dividend Equivalent Payments will be paid on the Settlement Date. 

  
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 FORFEITURE OF YOUR AWARD 

9. How You May Forfeit Your Award. This Paragraph 9 sets forth the events that result in forfeiture of up to all of your
PSUs [and Shares at Risk] and may require repayment to the Firm of up to all amounts previously paid or delivered to you under your PSUs in accordance with Paragraph 10. More than one event may apply, and in no case will the occurrence of one event
limit the forfeiture and repayment obligations as a result of the occurrence of any other event. In addition, the Firm reserves the right to (a) suspend delivery of the Settlement Amount and payment of any Dividend Equivalent Payments [or
release Transfer Restrictions on Shares at Risk] or (b) pay cash (including Dividend Equivalent Payments or dividends) [or deliver Shares at Risk into an escrow account in accordance with Paragraph 14(f)(v)]. [Paragraph 13 (relating to certain
circumstances under which release of Transfer Restrictions may be accelerated) provides for exceptions to one or more provisions of this Paragraph 9.] 

(a) PSUs Forfeited Upon Certain Events. If any of the following occurs, your rights to all of your Outstanding PSUs will terminate, and
no Settlement Amount will be delivered in respect thereof, as may be further described below: 
 (i) You Associate With a Covered
Enterprise. You Associate With a Covered Enterprise during the Performance Period. 
 (ii) You Solicit Clients or Employees, Interfere
with Client or Employee Relationships or Participate in the Hiring of Employees. Before the Settlement Date, either: 
 (A) you, in any
manner, directly or indirectly, (1) Solicit any Client to transact business with a Covered Enterprise or to reduce or refrain from doing any business with the Firm, (2) interfere with or damage (or attempt to interfere with or damage) any
relationship between the Firm and any Client, (3) Solicit any person who is an employee of the Firm to resign from the Firm, (4) Solicit any Selected Firm Personnel to apply for or accept employment (or other association) with any person
or entity other than the Firm or (5) hire or participate in the hiring of any Selected Firm Personnel by any person or entity other than the Firm (including, without limitation, participating in the identification of individuals for potential
hire, and participating in any hiring decision), whether as an employee or consultant or otherwise, or 
 (B) Selected Firm Personnel are
Solicited, hired or accepted into partnership, membership or similar status by (1) any entity that you form, that bears your name, or in which you possess or control greater than a de minimis equity ownership, voting or profit
participation or (2) any entity where you have, or will have, direct or indirect managerial responsibility for such Selected Firm Personnel. 

(iii) You Failed to Consider Risk. You Failed to Consider Risk during the Firm’s
             fiscal year. 
 (iv) Your Conduct Constitutes Cause.
Any event that constitutes Cause has occurred before the Settlement Date. 
 (v) You Do Not Meet Your Obligations to the Firm. The
Committee determines that, before the Settlement Date, you failed to meet, in any respect, any obligation under any agreement with the Firm, or any agreement entered into in connection with your Employment or this Award, including the Firm’s
notice period requirement applicable to you, any offer letter, employment agreement or any shareholders’ agreement relating to the Firm. Your failure to pay or reimburse the Firm, on demand, for any amount you owe to the Firm will constitute
(A) failure to meet an obligation you have under an agreement, regardless of whether such obligation arises under a written agreement, and/or (B) a material violation of Firm policy constituting Cause. 

  
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 (vi) You Do Not Provide Timely Certifications or Comply with Your Certifications. You
fail to certify to GS Inc. that you have complied with all of the terms of the Plan and this Award Agreement, or the Committee determines that you have failed to comply with a term of the Plan or this Award Agreement to which you have certified
compliance. 
 (vii) You Do Not Follow Dispute Resolution/Arbitration Procedures. You attempt to have any dispute under the Plan or
this Award Agreement resolved in any manner that is not provided for by Paragraph 17 or Section 3.17 of the Plan, or you attempt to arbitrate a dispute without first having exhausted your internal administrative remedies in accordance with
Paragraph 14[(f)(viii)]. 
 (viii) You Bring an Action that Results in a Determination that Any Award Agreement Term Is Invalid. As a
result of any action brought by you, it is determined that any term of this Award Agreement is invalid. 
 (ix) You Receive Compensation
in Respect of Your Award from Another Employer. Your Employment terminates for any reason or you otherwise are no longer actively employed with the Firm and another entity grants you cash, equity or other property (whether vested or unvested) to
replace, substitute for or otherwise in respect of your Outstanding PSUs. 
 (x) GS Inc. Fails to Maintain the Minimum Tier 1 Capital
Ratio. Before the Settlement Date, GS Inc. fails to maintain the required “Minimum Tier 1 Capital Ratio” as defined under Federal Reserve Board Regulations applicable to GS Inc. for a period of 90 consecutive business days. 

(xi) GS Inc. Is Determined to Be in Default. Before the Settlement Date, the Board of Governors of the Federal Reserve or the FDIC makes
a written recommendation under Title II (Orderly Liquidation Authority) of the Dodd-Frank Wall Street Reform and Consumer Protection Act for the appointment of the FDIC as a receiver of GS Inc. based on a determination that GS Inc. is “in
default” or “in danger of default.” 
 (xii) Accounting Restatement Required Under Sarbanes-Oxley. GS Inc. is required
to prepare an accounting restatement due to GS Inc.’s material noncompliance, as a result of misconduct, with any financial reporting requirement under the securities laws as described in Section 304(a) of Sarbanes-Oxley; provided,
however, that your rights with respect to the PSUs will only be terminated to the same extent that would be required under Section 304(a) of Sarbanes-Oxley had you been a “chief executive officer” or “chief financial
officer” of GS Inc. (regardless of whether you actually hold such position at the relevant time). 
 (b) [Shares at Risk Forfeited
upon Certain Events. To the extent you receive delivery of Shares at Risk in connection with any Settlement Amount, if any of the following occurs your rights to all of your Shares at Risk will terminate and your Shares at Risk will be
cancelled, in each case, as may be further described below: 
 (i) You Failed to Consider Risk. You Failed to Consider Risk during the
Firm’s 2018 fiscal year. 
 (ii) Your Conduct Constitutes Cause. Any event that constitutes Cause has occurred before the
Transferability Date. 

  
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 (iii) You Do Not Meet Your Obligations to the Firm. The Committee determines that,
before the Transferability Date, you failed to meet, in any respect, any obligation under any agreement with the Firm, or any agreement entered into in connection with your Employment or this Award, including the Firm’s notice period
requirement applicable to you, any offer letter, employment agreement or any shareholders’ agreement relating to the Firm. Your failure to pay or reimburse the Firm, on demand, for any amount you owe to the Firm will constitute (A) failure
to meet an obligation you have under an agreement, regardless of whether such obligation arises under a written agreement and/or (B) a material violation of Firm policy constituting Cause. 

(iv) You Do Not Provide Timely Certifications or Comply with Your Certifications. You fail to certify to GS Inc. that you have complied
with all of the terms of the Plan and this Award Agreement, or the Committee determines that you have failed to comply with a term of the Plan or this Award Agreement to which you have certified compliance. 

(v) You Do Not Follow Dispute Resolution/Arbitration Procedures. You attempt to have any dispute under the Plan or this Award Agreement
resolved in any manner that is not provided for by Paragraph 17 or Section 3.17 of the Plan, or you attempt to arbitrate a dispute without first having exhausted your internal administrative remedies in accordance with Paragraph 14[(f)(viii)].

 (vi) You Bring an Action that Results in a Determination that Any Award Agreement Term Is Invalid. As a result of any action
brought by you, it is determined that any term of this Award Agreement is invalid. 
 (vii) You Receive Compensation in Respect of Your
Award from Another Employer. Your Employment terminates for any reason or you otherwise are no longer actively employed with the Firm and another entity grants you cash, equity or other property (whether vested or unvested) to replace,
substitute for or otherwise in respect of any Shares at Risk; provided, however, that your rights will only be terminated in respect of the Shares at Risk that are replaced, substituted for or otherwise considered by such other entity
in making its grant. 
 (viii) Accounting Restatement Required Under Sarbanes-Oxley. GS Inc. is required to prepare an accounting
restatement due to GS Inc.’s material noncompliance, as a result of misconduct, with any financial reporting requirement under the securities laws as described in Section 304(a) of Sarbanes-Oxley; provided, however, that your
rights will only be terminated in respect of Shares at Risk to the same extent that would be required under Section 304(a) of Sarbanes-Oxley had you been a “chief executive officer” or “chief financial officer” of GS Inc.
(regardless of whether you actually hold such position at the relevant time).] 
 REPAYMENT OF YOUR
AWARD 
 10. When You May Be Required to Repay Your Award. 

(a) Repayment, Generally. If the Committee determines that any term of this Award was not satisfied, you will be required, immediately
upon demand therefor, to repay to the Firm the following: 
 (i) Any Settlement Amount [(including any Shares at Risk)] for which the terms
(including the terms for payment) of the related PSUs were not satisfied, in accordance with Section 2.6.3 of the Plan. 
 (ii) [Any
Shares at Risk for which the terms (including the terms for the release of Transfer Restrictions) were not satisfied, in accordance with Section 2.5.3 of the Plan.] 

  
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 (iii) Any Dividend Equivalent Payments for which the terms were not satisfied (including any
such payments made in respect of PSUs that are forfeited or any Settlement Amount that is required to be repaid), in accordance with Section 2.8.3 of the Plan. 

(iv) [Any dividends paid in respect of any Shares at Risk that are cancelled or required to be repaid.] 

(v) Any amount applied to satisfy tax withholding or other obligations with respect to any PSU, Settlement Amount [(including Shares at Risk)],
dividend payments or Dividend Equivalent Payments that are forfeited or required to be repaid. 
 (b) Repayment Upon Materially Inaccurate
Financial Statements. If any delivery is made under this Award Agreement based on materially inaccurate financial statements (which includes, but is not limited to, statements of earnings, revenues or gains) or other materially inaccurate
performance criteria, you will be obligated to repay to the Firm, immediately upon demand therefor, any excess amount delivered, as determined by the Committee in its sole discretion. 

(c) Repayment Upon Accounting Restatement Required Under Sarbanes-Oxley. If an event described in Paragraphs 9(a)(xii) and 9(b)(viii)
(relating to a requirement under Sarbanes-Oxley that GS Inc. prepare an accounting restatement) occurs, any Settlement Amount [(including Shares at Risk)], dividend payments, Dividend Equivalent Payments, cash or other property delivered, paid or
withheld in respect of this Award will be subject to repayment as described in Paragraph 10(a) to the same extent that would be required under Section 304(a) of Sarbanes-Oxley had you been a “chief executive officer” or “chief
financial officer” of GS Inc. (regardless of whether you actually hold such position at the relevant time). 
 [ADDITIONAL
FORFEITURE FOR CERTAIN INVESTIGATIONS 
 11. Additional
Forfeitures.  
 (a) Forfeiture of PSUs [and Shares at Risk]. In addition to and without limiting the
Firm’s rights under the forfeiture and repayment provisions set forth in Paragraphs 9 and 10, if the Committee determines that the number of PSUs subject to this Award would have been impacted by the results of the investigation relating to
1Malaysia Development Berhad (“1MDB”), the Committee may: (i) terminate your rights to such number of PSUs subject to this Award; [and (ii) if and to the extent you receive delivery of Shares at Risk in connection with any
Settlement Amount, cause such number of your Shares at Risk to be cancelled, in either case] as it determines in its sole discretion to be appropriate in light of the results of the 1MDB investigation, and your rights with respect to the number of
such PSUs [and Shares at Risk] will terminate (and in the case of PSUs, no Settlement Amount will be delivered in respect thereof). 
 (b)
Suspension and Escrow. In addition, the Firm reserves the right to: (i) suspend delivery of the Settlement Amount and payments under Dividend Equivalent Rights prior to the Settlement Date [or release of Transfer Restrictions prior to
the Transferability Date;] or (ii) pay any cash (including Dividend Equivalent Payments or dividends) [or deliver Shares at Risk, in any case, into an escrow account in accordance with Paragraph 14(f)(v)] until the Committee determines whether
the termination of your rights to any PSUs [or Shares at Risk] in accordance with Paragraph 11(a) is appropriate. 
 (c) [Repayment of Tax
Withholding. If any Shares at Risk are cancelled in accordance with Paragraph 11(a), you will be obligated immediately upon demand therefor to pay the Firm an amount equal to any withholding taxes in respect of such Shares at Risk.]] 

  
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 TERMINATIONS OF EMPLOYMENT 

12. PSUs and Termination of Employment.  

(a) Employment Termination Generally. Unless the Committee determines otherwise, if your Employment terminates for any reason or you are
otherwise no longer actively Employed with the Firm (which includes off-premises notice periods, “garden leaves,” pay in lieu of notice or any other similar status), the Performance Goal applicable
to your Outstanding PSUs will continue to apply and the determination of the Settlement Amount will continue to be subject to whether or not, and to what extent, the Performance Goal has been achieved, in each case, as provided in Paragraph 6. All
other terms of this Award Agreement, including the forfeiture and repayment events in Paragraphs 9, 10 and 11, continue to apply. 
 (b)
Death. If you die before the Settlement Date, the representative of your estate will, on the Settlement Date, receive delivery of the Settlement Amount and payment of the Dividend Equivalent Payments that, in each case, would have otherwise
been made pursuant to Paragraph 6 [and any Transfer Restrictions on Shares at Risk will cease to apply in accordance with Paragraph 13(b)], after such documentation as may be requested by the Committee is provided to the Committee. All other terms
of this Award Agreement, including the forfeiture and repayment events in Paragraphs 9, 10 and 11, continue to apply.  
 (c)
Restrictions on Association With a Covered Enterprise Cease to Apply After an Involuntary or Mutual Agreement Termination. Paragraph 9(a)(i) (relating to forfeiture if you Associate With a Covered Enterprise) will not apply if (i) your
Employment terminates and the Firm characterizes your Employment termination as “involuntary” or by “mutual agreement” (and, in each case, you have not engaged in conduct constituting Cause) and (ii) you execute a general
waiver and release of claims and an agreement to pay any associated tax liability, in each case, in the form the Firm prescribes. No Employment termination that you initiate, including any purported “constructive termination,” a
“termination for good reason” or similar concepts, can be “involuntary” or by “mutual agreement.” All other terms of this Award Agreement, including the other forfeiture and repayment events in Paragraphs 9, 10 and 11,
continue to apply. 
 13. [Accelerated Release of Transfer Restrictions on Shares at Risk in the Event of a Qualifying Termination
After a Change in Control or Death. To the extent you receive delivery of Shares at Risk in connection with any Settlement Amount, in the event of your Qualifying Termination After a Change in Control or death, each as described
below, your Shares at Risk will be treated as described in this Paragraph 13, and, except as set forth in Paragraph 13(a), all other terms of this Award Agreement, including the other forfeiture and repayment events in Paragraphs 9, 10 and 11,
continue to apply. 
 (a) You Have a Qualifying Termination After a Change in Control. If your Employment terminates when you meet the
requirements of a Qualifying Termination After a Change in Control, any Transfer Restrictions will cease to apply to your Shares at Risk. In addition, the forfeiture events in Paragraph 9 will not apply to your Shares at Risk. 

(b) Death. If you die, any Transfer Restrictions will cease to apply as soon as practicable after the date of death and after such
documentation as may be requested by the Committee is provided to the Committee.] 

  
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 OTHER TERMS, CONDITIONS AND
AGREEMENTS 
 14. Additional Terms, Conditions and Agreements. 

(a) You Must Satisfy Applicable Tax Withholding Requirements. Delivery of the Settlement Amount is conditioned on your satisfaction of
any applicable withholding taxes in accordance with Section 3.2 of the Plan, which includes the Firm deducting or withholding amounts from any payment or distribution to you. To the extent permitted by applicable law, the Firm, in its sole
discretion, may require you to provide amounts equal to all or a portion of any Federal, state, local, foreign or other tax obligations imposed on you or the Firm in connection with the grant or payment of this Award by requiring you to choose
between remitting the amount (i) in cash (or through payroll deduction or otherwise) or (ii) in the form of proceeds from the Firm’s executing a sale of Shares delivered to you pursuant to this Award. In no event, however, does this
Paragraph 14(a) give you any discretion to determine or affect the timing of delivery of the Settlement Amount or the timing of payment of tax obligations. 

(b) [Firm May Deliver Cash or Other Property in Respect of the Settlement Amount. In accordance with Section 1.3.2(i) of the Plan,
in the sole discretion of the Committee, in lieu of all or any portion of the Settlement Amount, the Firm may deliver cash, other securities, other awards under the Plan or other property, and all references in this Award Agreement to delivery of
the Settlement Amount will include such deliveries of cash, other securities, other awards under the Plan or other property.] 
 (c)
[Amounts May Be Rounded to Avoid Fractional Shares. Any amounts delivered in respect of the Settlement Amount, including Shares at Risk, may be rounded to avoid fractional Shares.] 

(d) You May Be Required to Become a Party to the Shareholders’ Agreement. Your rights to your PSUs are conditioned on your becoming
a party to any shareholders’ agreement to which other similarly situated employees (e.g., employees with a similar title or position) of the Firm are required to be a party. 

(e) Firm May Affix Legends and Place Stop Orders on Shares. GS Inc. may affix to Certificates representing Shares any legend that the
Committee determines to be necessary or advisable (including to reflect any restrictions to which you may be subject under a separate agreement). GS Inc. may advise the transfer agent to place a stop order against any legended Shares.] 

(f) You Agree to Certain Consents, Terms and Conditions. By accepting this Award you understand and agree that: 

(i) You Agree to Certain Consents as a Condition to the Award. You have expressly consented to all of the items listed in
Section 3.3.3(d) of the Plan, including the Firm’s supplying to any third-party recordkeeper of the Plan or other person such personal information of yours as the Committee deems advisable to administer the Plan, and you agree to provide
any additional consents that the Committee determines to be necessary or advisable; 
 (ii) You Are Subject to the Firm’s Policies,
Rules and Procedures. You are subject to the Firm’s policies in effect from time to time concerning trading in Shares and hedging or pledging Shares and equity-based compensation or other awards (including, without limitation, the
Firm’s “Policies with Respect to Personal Transactions Involving GS Securities and GS Equity Awards” or any successor policies), and confidential or proprietary information, [and you will effect sales of Shares in accordance with such
rules and procedures as may be adopted from time to time (which may include, without limitation, restrictions relating to the timing of sale requests, the manner in which sales are executed, pricing method, consolidation or aggregation of orders and
volume limits determined by the Firm)]; 

  
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 (iii) [You Are Responsible for Costs Associated with Your Award. You will be
responsible for all brokerage costs and other fees or expenses associated with your Shares at Risk, including those related to the sale of Shares]; 

(iv) You Will Be Deemed to Represent Your Compliance with All the Terms of Your Award if You Accept Delivery. You will be deemed to have
represented and certified that you have complied with all of the terms of the Plan and this Award Agreement when you accept payment in respect of your Award[, and you request the sale of Shares following the release of Transfer Restrictions on
Shares at Risk]; 
 (v) Firm May Make Deliveries into an Escrow Account. The Firm may establish and maintain an escrow account on such
terms (which may include your executing any documents related to, and your paying for any costs associated with, such account) as it may deem necessary or appropriate, and the Settlement Amount may initially be delivered, and any Dividend Equivalent
Payments may initially be paid, into and held in that escrow account until such time as the Committee has received such documentation as it may have requested or until the Committee has determined that any other conditions or restrictions on
deliveries required by this Award Agreement have been satisfied; 
 (vi) You May Be Required to Certify Compliance with Award Terms; You
Are Responsible for Providing the Firm with Updated Address and Contact Information After Your Departure from the Firm. If your Employment terminates while you continue to hold PSUs [or Shares at Risk], from time to time, you may be required to
provide certifications of your compliance with all of the terms of the Plan and this Award Agreement as described in Paragraphs 9(a)(vi) and 9(b)(iv). You understand and agree that (A) your address on file with the Firm at the time any
certification is required will be deemed to be your current address, (B) it is your responsibility to inform the Firm of any changes to your address to ensure timely receipt of the certification materials, (C) you are responsible for
contacting the Firm to obtain such certification materials if not received and (D) your failure to return properly completed certification materials by the specified deadline (which includes your failure to timely return the completed
certification because you did not provide the Firm with updated contact information) will result in the forfeiture of all of your PSUs [or Shares at Risk] and subject previously delivered amounts to repayment under Paragraphs 9(a)(vi) and 9(b)(iv);

 (vii) [You Authorize the Firm to Register, in Its or Its Designee’s Name, Any Shares at Risk and Sell, Assign or Transfer Any
Forfeited Shares at Risk. You are granting to the Firm the full power and authority to register any Shares at Risk in its or its designee’s name and authorizing the Firm or its designee to sell, assign or transfer any Shares at Risk if you
forfeit your Shares at Risk]; 
 (viii) You Must Comply with Applicable Deadlines and Procedures to Appeal Determinations Made by the
Committee. If you disagree with a determination made by the Committee, the SIP Committee, the SIP Administrators, or any of their delegates or designees and you wish to appeal such determination, you must submit a written request to the SIP
Committee for review within 180 days after the determination at issue. You must exhaust your internal administrative remedies (i.e., submit your appeal and wait for resolution of that appeal) before seeking to resolve a dispute through
arbitration pursuant to Paragraph 17 and Section 3.17 of the Plan; and 
 (ix) You Agree that Covered Persons Will Not Have
Liability. In addition to and without limiting the generality of the provisions of Section 1.3.5 of the Plan, neither the Firm nor any Covered Person will have any liability to you or any other person for any action taken or omitted in
respect of this or any other Award. 

  
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 15. Non-transferability. Except
as otherwise may be provided in this Paragraph 15 or as otherwise may be provided by the Committee, the limitations on transferability set forth in Section 3.5 of the Plan will apply to this Award. Any purported transfer or assignment in
violation of the provisions of this Paragraph 15 or Section 3.5 of the Plan will be void. The Committee may adopt procedures pursuant to which some or all recipients of PSUs and Shares at Risk may transfer some or all of their PSUs [or Shares
at Risk (which will continue to be subject to Transfer Restrictions until the Transferability Date)] through a gift for no consideration to any immediate family member, a trust or other estate planning vehicle approved by the Committee or SIP
Committee in which the recipient and/or the recipient’s immediate family members in the aggregate have 100% of the beneficial interest. 

16. Right of Offset. Except as provided in Paragraph 19(d), the obligation to deliver the Settlement Amount, pay
dividends or Dividend Equivalent Payments [or release Transfer Restrictions] under this Award Agreement is subject to Section 3.4 of the Plan, which provides for the Firm’s right to offset against such obligation any outstanding amounts
you owe to the Firm and any amounts the Committee deems appropriate pursuant to any tax equalization policy or agreement. 
 ARBITRATION,
CHOICE OF FORUM AND GOVERNING LAW 
 17.
Arbitration; Choice of Forum. 
 (a) BY ACCEPTING THIS
AWARD, YOU ARE INDICATING THAT YOU UNDERSTAND AND AGREE THAT THE
ARBITRATION AND CHOICE OF FORUM PROVISIONS SET FORTH IN SECTION 3.17 OF
THE PLAN WILL APPLY TO THIS AWARD. THESE PROVISIONS, WHICH ARE
EXPRESSLY INCORPORATED HEREIN BY REFERENCE, PROVIDE AMONG OTHER THINGS THAT ANY
DISPUTE, CONTROVERSY OR CLAIM BETWEEN THE FIRM AND YOU ARISING OUT OF
OR RELATING TO OR CONCERNING THE PLAN OR THIS AWARD AGREEMENT WILL
BE FINALLY SETTLED BY ARBITRATION IN NEW YORK CITY, PURSUANT TO THE
TERMS MORE FULLY SET FORTH IN SECTION 3.17 OF THE PLAN; PROVIDED
THAT NOTHING HEREIN SHALL PRECLUDE YOU FROM FILING A CHARGE WITH OR
PARTICIPATING IN ANY INVESTIGATION OR PROCEEDING CONDUCTED BY ANY GOVERNMENTAL
AUTHORITY, INCLUDING BUT NOT LIMITED TO THE SEC AND THE EQUAL EMPLOYMENT
OPPORTUNITY COMMISSION. 
 (b) To the fullest extent permitted by applicable law, no arbitrator will have
the authority to consider class, collective or representative claims, to order consolidation or to join different claimants or grant relief other than on an individual basis to the individual claimant involved. 

(c) Notwithstanding any applicable forum rules to the contrary, to the extent there is a question of enforceability of this Award Agreement
arising from a challenge to the arbitrator’s jurisdiction or to the arbitrability of a claim, it will be decided by a court and not an arbitrator. 

(d) The Federal Arbitration Act governs interpretation and enforcement of all arbitration provisions under the Plan and this Award Agreement,
and all arbitration proceedings thereunder. 
 (e) Nothing in this Award Agreement creates a substantive right to bring a claim under U.S.
Federal, state, or local employment laws. 
 (f) By accepting your Award, you irrevocably appoint each General Counsel of GS Inc., or any
person whom the General Counsel of GS Inc. designates, as your agent for service of process in 

  
 -10- 

 
connection with any suit, action or proceeding arising out of or relating to or concerning the Plan or any Award which is not arbitrated pursuant to the provisions of Section 3.17.1 of the
Plan, who shall promptly advise you of any such service of process. 
 (g) To the fullest extent permitted by applicable law, no arbitrator
will have the authority to consider any claim as to which you have not first exhausted your internal administrative remedies in accordance with Paragraph 14[(f)(viii)]. 

18. Governing Law. THIS AWARD WILL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. 

CERTAIN TAX PROVISIONS 

19. Compliance of Award Agreement and Plan with Section 409A. The provisions of this
Paragraph 19 apply to you only if you are a U.S. taxpayer. 
 (a) This Award Agreement and the Plan provisions that apply to this Award are
intended and will be construed to comply with Section 409A (including the requirements applicable to, or the conditions for exemption from treatment as, 409A Deferred Compensation), whether by reason of short-term deferral treatment or other
exceptions or provisions. The Committee will have full authority to give effect to this intent. To the extent necessary to give effect to this intent, in the case of any conflict or potential inconsistency between the provisions of the Plan
(including Sections 1.3.2 and 2.1 thereof) and this Award Agreement, the provisions of this Award Agreement will govern, and in the case of any conflict or potential inconsistency between this Paragraph 19 and the other provisions of this Award
Agreement, this Paragraph 19 will govern. 
 (b) Settlement will not be delayed beyond the date on which all applicable conditions or
restrictions on settlement in respect of your PSUs required by this Award Agreement (including those specified in Paragraph 12(c) (execution of waiver and release of claims agreement to pay associated tax liability) and the consents and other items
specified in Section 3.3 of the Plan) are satisfied. To the extent that any portion of this Award is intended to satisfy the requirements for short-term deferral treatment under Section 409A, settlement in respect of such portion will
occur by the March 15 coinciding with the last day of the applicable “short-term deferral” period described in Reg. § 1.409A-1(b)(4) in order for settlement to be within the short-term
deferral exception unless, in order to permit all applicable conditions or restrictions on settlement to be satisfied, the Committee elects, pursuant to Reg. § 1.409A-1(b)(4)(i)(D) or otherwise as may be
permitted in accordance with Section 409A, to delay settlement to a later date within the same calendar year or to such later date as may be permitted under Section 409A, including Reg. §
1.409A-3(d). For the avoidance of doubt, if the Award includes a “series of installment payments” as described in Reg. § 1.409A-2(b)(2)(iii), your right
to the series of installment payments will be treated as a right to a series of separate payments and not as a right to a single payment. 

(c) Notwithstanding the provisions of Section 1.3.2(i) of the Plan, to the extent necessary to comply with Section 409A, any delivery
or payment [(including in the form of Shares at Risk or other property)] that the Firm may make in respect of your PSUs will not have the effect of deferring payment, delivery, income inclusion, or a substantial risk of forfeiture, beyond the date
on which such payment, delivery or inclusion would occur or such risk of forfeiture would lapse, with respect to the payment or delivery that would otherwise have been made (unless the Committee elects a later date for this purpose pursuant to Reg.
§ 1.409A-1(b)(4)(i)(D) or otherwise as may be permitted under Section 409A, including and to the extent applicable, the subsequent election provisions of Section 409A(a)(4)(C) of the Code and
Reg. § 1.409A-2(b)). 

  
 -11- 

 (d) Paragraph 16 and Section 3.4 of the Plan will not apply to Awards that are 409A
Deferred Compensation except to the extent permitted under Section 409A. 
 (e) Settlement in respect of any portion of the Award may be
made, if and to the extent elected by the Committee, later than the relevant Settlement Date or other date or period specified hereinabove (but, in the case of any Award that constitutes 409A Deferred Compensation, only to the extent that the later
payment or delivery, as applicable, is permitted under Section 409A). 
 (f) You understand and agree that you are solely responsible
for the payment of any taxes and penalties due pursuant to Section 409A, but in no event will you be permitted to designate, directly or indirectly, the taxable year of the delivery. 

COMMITTEE AUTHORITY, AMENDMENT, CONSTRUCTION AND REGULATORY
REPORTING 
 20. Committee Authority. The Committee has the authority to determine, in its sole
discretion, that any event triggering forfeiture or repayment of your Award will not apply, to limit the forfeitures and repayments that result under Paragraphs 9, 10 and 11 [and to remove Transfer Restrictions before the Transferability Date]. In
addition, the Committee, in its sole discretion, may determine whether Paragraph 12(c) will apply upon a termination of Employment. 
 21.
Amendment. The Committee reserves the right at any time to amend the terms of this Award Agreement, and the Board may amend the Plan in any respect; provided that, notwithstanding the foregoing and Sections 1.3.2(f),
1.3.2(h) and 3.1 of the Plan, no such amendment will materially adversely affect your rights and obligations under this Award Agreement without your consent; and provided further that the Committee expressly reserves its rights to
amend the Award Agreement and the Plan as described in Sections 1.3.2(h)(1), (2) and (4) of the Plan. A modification that impacts the tax consequences of this Award or the timing of delivery will not be an amendment that materially adversely
affects your rights and obligations under this Award Agreement. Any amendment of this Award Agreement will be in writing. 
 22.
Construction, Headings. Unless the context requires otherwise, (i) words describing the singular number include the plural and vice versa, (ii) words denoting any gender include all genders and (iii) the words
“include,” “includes” and “including” will be deemed to be followed by the words “without limitation.” The headings in this Award Agreement are for the purpose of convenience only and are not intended to
define or limit the construction of the provisions hereof. References in this Award Agreement to any specific Plan provision will not be construed as limiting the applicability of any other Plan provision. 

23. Providing Information to the Appropriate Authorities. In accordance with applicable law, nothing in this Award
Agreement (including the forfeiture and repayment provisions in Paragraphs 9, 10 and 11) or the Plan prevents you from providing information you reasonably believe to be true to the appropriate governmental authority, including a regulatory,
judicial, administrative, or other governmental entity; reporting possible violations of law or regulation; making other disclosures that are protected under any applicable law or regulation; or filing a charge or participating in any investigation
or proceeding conducted by a governmental authority. 

  
 -12- 

 IN WITNESS WHEREOF, GS Inc. has caused this Award Agreement to be duly executed and
delivered as of the Date of Grant. 
 THE GOLDMAN SACHS GROUP, INC. 

  
 -13- 

 DEFINITIONS APPENDIX 

The following capitalized terms are used in this Award Agreement with the following meanings: 

(a) “409A Deferred Compensation” means a “deferral of compensation” or “deferred compensation” as those
terms are defined in the regulations under Section 409A. 
 (b) “Associate With a Covered Enterprise” means that you
(i) form, or acquire a 5% or greater equity ownership, voting or profit participation interest in, any Covered Enterprise or (ii) associate in any capacity (including association as an officer, employee, partner, director, consultant,
agent or advisor) with any Covered Enterprise. Associate With a Covered Enterprise may include, as determined in the discretion of the Committee, (i) becoming the subject of any publicly available announcement or report of a pending or future
association with a Covered Enterprise and (ii) unpaid associations, including an association in contemplation of future employment. “Association With a Covered Enterprise” will have its correlative meaning. 

(c) “Covered Enterprise” means a Competitive Enterprise and any other existing or planned business enterprise that:
(i) offers, holds itself out as offering or reasonably may be expected to offer products or services that are the same as or similar to those offered by the Firm or that the Firm reasonably expects to offer (“Firm Products or
Services”) or (ii) engages in, holds itself out as engaging in or reasonably may be expected to engage in any other activity that is the same as or similar to any financial activity engaged in by the Firm or in which the Firm reasonably
expects to engage (“Firm Activities”). For the avoidance of doubt, Firm Activities include any activity that requires the same or similar skills as any financial activity engaged in by the Firm or in which the Firm reasonably expects to
engage, irrespective of whether any such financial activity is in furtherance of an advisory, agency, proprietary or fiduciary undertaking. 

The enterprises covered by this definition include enterprises that offer, hold themselves out as offering or reasonably may be expected to
offer Firm Products or Services, or engage in, hold themselves out as engaging in or reasonably may be expected to engage in Firm Activities directly, as well as those that do so indirectly by ownership or control (e.g., by owning, being
owned by or by being under common ownership with an enterprise that offers, holds itself out as offering or reasonably may be expected to offer Firm Products or Services or that engages in, holds itself out as engaging in or reasonably may be
expected to engage in Firm Activities). The definition of Covered Enterprise includes, solely by way of example, any enterprise that offers, holds itself out as offering or reasonably may be expected to offer any product or service, or engages in,
holds itself out as engaging in or reasonably may be expected to engage in any activity, in any case, associated with investment banking; public or private finance; lending; financial advisory services; private investing for anyone other than you or
your family members (including, for the avoidance of doubt, any type of proprietary investing or trading); private wealth management; private banking; consumer or commercial cash management; consumer, digital or commercial banking; merchant banking;
asset, portfolio or hedge fund management; insurance or reinsurance underwriting or brokerage; property management; or securities, futures, commodities, energy, derivatives, currency or digital asset brokerage, sales, lending, custody, clearance,
settlement or trading. An enterprise that offers, holds itself out as offering or reasonably may be expected to offer Firm Products or Services, or engages in, holds itself out as engaging in or reasonably may be expected to engage in Firm
Activities is a Covered Enterprise, irrespective of whether the enterprise is a customer, client or counterparty of the Firm or is otherwise associated with the Firm and, because the Firm is a global enterprise, irrespective of where the Covered
Enterprise is physically located. 

  
 -14- 

 (d) “Determination Date” means the date specified on your Award Statement
as the date on which the Committee will determine whether or not, and to what extent, the Performance Goal was achieved for the Performance Period. 

(e) “Dividend Equivalent Payments” means any payments made in respect of Dividend Equivalent Rights. 

(f) “FDIC” means the Federal Deposit Insurance Corporation or any successor thereto. 

(g) “Failed to Consider Risk” means that you participated in the structuring or marketing of any product or service, or
participated on behalf of the Firm or any of its clients in the purchase or sale of any security or other property, in any case without appropriate consideration of the risk to the Firm or the broader financial system as a whole (for example, where
you have improperly analyzed such risk or where you have failed sufficiently to raise concerns about such risk) and, as a result of such action or omission, the Committee determines there has been, or reasonably could be expected to be, a material
adverse impact on the Firm, your business unit or the broader financial system. 
 (h) “Performance Goal” means the
performance goal determined by the Committee that is specified on your Award Statement. 
 (i) “Performance Period” means
the performance period determined by the Committee that is specified on your Award Statement. 
 (j) “Qualifying Termination After a
Change in Control” means that the Firm terminates your Employment other than for Cause or you terminate your Employment for Good Reason, in each case, within 18 months following a Change in Control. 

(k) “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002, as amended. 

(l) “SEC” means the U.S. Securities and Exchange Commission. 

(m) “Selected Firm Personnel” means any individual who is or in the three months preceding the conduct prohibited by
Paragraph 9(a)(ii) was (i) a Firm employee or consultant with whom you personally worked while employed by the Firm, (ii) a Firm employee or consultant who, at any time during the year preceding the date of the termination of your
Employment, worked in the same division in which you worked or (iii) an Advisory Director, a Managing Director or a Senior Advisor of the Firm. 

(n) [“Settlement Amount” means an amount deliverable to you in respect of your PSUs (determined as described in the Award
Statement).] 
 (o) [“Settlement Date” means the date that is specified on your Award Statement on which the Settlement
Amount will be delivered.] 
 (p) “Share” means a share of Common Stock. 

(q) [“Shares at Risk” means Shares that are subject to Transfer Restrictions.] 

  
 -15- 

 The following capitalized terms are used in this Award Agreement with the meanings that are assigned to
them in the Plan: 
 (a) “Account” means any brokerage account, custody account or similar account, as approved or
required by GS Inc. from time to time, into which shares of Common Stock, cash or other property in respect of an Award are delivered. 

(b) “Award Agreement” means the written document or documents by which each Award is evidenced, including any related Award
Statement and signature card. 
 (c) “Award Statement” means a written statement that reflects certain Award terms. 

(d) “Board” means the Board of Directors of GS Inc. 

(e) “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in New York City are
authorized or obligated by Federal law or executive order to be closed. 
 (f) “Cause” means (i) the Grantee’s
conviction, whether following trial or by plea of guilty or nolo contendere (or similar plea), in a criminal proceeding (A) on a misdemeanor charge involving fraud, false statements or misleading omissions, wrongful taking, embezzlement,
bribery, forgery, counterfeiting or extortion, or (B) on a felony charge, or (C) on an equivalent charge to those in clauses (A) and (B) in jurisdictions which do not use those designations, (ii) the Grantee’s engaging in
any conduct which constitutes an employment disqualification under applicable law (including statutory disqualification as defined under the Exchange Act), (iii) the Grantee’s willful failure to perform the Grantee’s duties to the
Firm, (iv) the Grantee’s violation of any securities or commodities laws, any rules or regulations issued pursuant to such laws, or the rules and regulations of any securities or commodities exchange or association of which the Firm is a
member, (v) the Grantee’s violation of any Firm policy concerning hedging or pledging or confidential or proprietary information, or the Grantee’s material violation of any other Firm policy as in effect from time to time,
(vi) the Grantee’s engaging in any act or making any statement which impairs, impugns, denigrates, disparages or negatively reflects upon the name, reputation or business interests of the Firm or (vii) the Grantee’s engaging in
any conduct detrimental to the Firm. The determination as to whether Cause has occurred shall be made by the Committee in its sole discretion and, in such case, the Committee also may, but shall not be required to, specify the date such Cause
occurred (including by determining that a prior termination of Employment was for Cause). Any rights the Firm may have hereunder and in any Award Agreement in respect of the events giving rise to Cause shall be in addition to the rights the Firm may
have under any other agreement with a Grantee or at law or in equity. 
 (g) “Change in Control” means the consummation of
a merger, consolidation, statutory share exchange or similar form of corporate transaction involving GS Inc. (a “Reorganization”) or sale or other disposition of all or substantially all of GS Inc.’s assets to an entity that is not an
affiliate of GS Inc. (a “Sale”), that in each case requires the approval of GS Inc.’s shareholders under the law of GS Inc.’s jurisdiction of organization, whether for such Reorganization or Sale (or the issuance of
securities of GS Inc. in such Reorganization or Sale), unless immediately following such Reorganization or Sale, either: (i) at least 50% of the total voting power (in respect of the election of directors, or similar officials in the case of an
entity other than a corporation) of (A) the entity resulting from such Reorganization, or the entity which has acquired all or substantially all of the assets of GS Inc. in a Sale (in either case, the “Surviving Entity”), or
(B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, as such Rule is in effect on the date of the
adoption of the 1999 SIP) of 50% or more of the total voting power (in respect of the election of directors, or similar officials in the case of an entity other than a corporation) of the Surviving Entity

  
 -16- 

 
(the “Parent Entity”) is represented by GS Inc.’s securities (the “GS Inc. Securities”) that were outstanding immediately prior to such Reorganization or Sale (or, if
applicable, is represented by shares into which such GS Inc. Securities were converted pursuant to such Reorganization or Sale) or (ii) at least 50% of the members of the board of directors (or similar officials in the case of an entity other
than a corporation) of the Parent Entity (or, if there is no Parent Entity, the Surviving Entity) following the consummation of the Reorganization or Sale were, at the time of the Board’s approval of the execution of the initial agreement
providing for such Reorganization or Sale, individuals (the “Incumbent Directors”) who either (A) were members of the Board on the Effective Date or (B) became directors subsequent to the Effective Date and whose election or
nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of GS Inc.’s proxy statement in which such
persons are named as nominees for director). 
 (h) “Client” means any client or prospective client of the Firm to whom the
Grantee provided services, or for whom the Grantee transacted business, or whose identity became known to the Grantee in connection with the Grantee’s relationship with or employment by the Firm. 

(i) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the applicable rulings and regulations
thereunder. 
 (j) “Committee” means the committee appointed by the Board to administer the Plan pursuant to
Section 1.3, and, to the extent the Board determines it is appropriate for the compensation realized from Awards under the Plan to be considered “performance based” compensation under Section 162(m) of the Code, shall be a
committee or subcommittee of the Board composed of two or more members, each of whom is an “outside director” within the meaning of Code Section 162(m), and which, to the extent the Board determines it is appropriate for Awards under
the Plan to qualify for the exemption available under Rule 16b-3(d)(1) or Rule 16b-3(e) promulgated under the Exchange Act, shall be a committee or subcommittee of the
Board composed of two or more members, each of whom is a “non-employee director” within the meaning of Rule 16b-3. Unless otherwise determined by the Board,
the Committee shall be the Compensation Committee of the Board. 
 (k) “Common Stock” means common stock of GS Inc., par
value $0.01 per share. 
 (l) “Competitive Enterprise” means an existing or planned business enterprise that
(i) engages, or may reasonably be expected to engage, in any activity; (ii) owns or controls, or may reasonably be expected to own or control, a significant interest in any entity that engages in any activity or (iii) is, or may
reasonably be expected to be, owned by, or a significant interest in which is, or may reasonably be expected to be, owned or controlled by, any entity that engages in any activity that, in any case, competes or will compete anywhere with any
activity in which the Firm is engaged. The activities covered by this definition include, without limitation: financial services such as investment banking; public or private finance; lending; financial advisory services; private investing for
anyone other than the Grantee and members of the Grantee’s family (including for the avoidance of doubt, any type of proprietary investing or trading); private wealth management; private banking; consumer or commercial cash management;
consumer, digital or commercial banking; merchant banking; asset, portfolio or hedge fund management; insurance or reinsurance underwriting or brokerage; property management; or securities, futures, commodities, energy, derivatives, currency or
digital asset brokerage, sales, lending, custody, clearance, settlement or trading. 
 (m) “Covered Person” means a member
of the Board or the Committee or any employee of the Firm. 

  
 -17- 

 (n) “Date of Grant” means the date specified in the Grantee’s Award
Agreement as the date of grant of the Award. 
 (o) “Dividend Equivalent Right” means a dividend equivalent right granted
under the Plan, which represents an unfunded and unsecured promise to pay to the Grantee amounts equal to all or any portion of the regular cash dividends that would be paid on shares of Common Stock covered by an Award if such shares had been
delivered pursuant to an Award. 
 (p) “Employment” means the Grantee’s performance of services for the Firm, as
determined by the Committee. The terms “employ” and “employed” shall have their correlative meanings. The Committee in its sole discretion may determine (i) whether and when a Grantee’s leave of absence results in a
termination of Employment (for this purpose, unless the Committee determines otherwise, a Grantee shall be treated as terminating Employment with the Firm upon the occurrence of an Extended Absence), (ii) whether and when a change in a
Grantee’s association with the Firm results in a termination of Employment and (iii) the impact, if any, of any such leave of absence or change in association on Awards theretofore made. Unless expressly provided otherwise, any references
in the Plan or any Award Agreement to a Grantee’s Employment being terminated shall include both voluntary and involuntary terminations. 

(q) “Firm” means GS Inc. and its subsidiaries and affiliates. 

(r) “Good Reason” means, in connection with a termination of employment by a Grantee following a Change in Control,
(a) as determined by the Committee, a materially adverse alteration in the Grantee’s position or in the nature or status of the Grantee’s responsibilities from those in effect immediately prior to the Change in Control or (b) the
Firm’s requiring the Grantee’s principal place of Employment to be located more than seventy-five (75) miles from the location where the Grantee is principally Employed at the time of the Change in Control (except for required travel
on the Firm’s business to an extent substantially consistent with the Grantee’s customary business travel obligations in the ordinary course of business prior to the Change in Control). 

(s) “Grantee” means a person who receives an Award. 

(t) “GS Inc.” means The Goldman Sachs Group, Inc., and any successor thereto. 

(u) “Outstanding” means any Award to the extent it has not been forfeited, cancelled, terminated, exercised or with respect
to which the shares of Common Stock underlying the Award have not been previously delivered or other payments made. 
 (v)
“RSU” means a restricted stock unit granted under the Plan, which represents an unfunded and unsecured promise to deliver shares of Common Stock in accordance with the terms of the RSU Award Agreement. 

(w) “Section 409A” means Section 409A of the Code, including any amendments or successor provisions
to that Section and any regulations and other administrative guidance thereunder, in each case as they, from time to time, may be amended or interpreted through further administrative guidance. 

(x) “SIP Administrator” means each person designated by the Committee as a “SIP Administrator” with the authority
to perform day-to-day administrative functions for the Plan. 

(y) “SIP Committee” means the persons who have been delegated certain authority under the Plan by the Committee. 

  
 -18- 

 (z) “Solicit” means any direct or indirect communication of any kind
whatsoever, regardless of by whom initiated, inviting, advising, suggesting, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action. 

(aa) [“Transfer Restrictions” means restrictions that prohibit the sale, exchange, transfer, assignment, pledge,
hypothecation, fractionalization, hedge or other disposal (including through the use of any cash-settled instrument), whether voluntarily or involuntarily by the Grantee, of an Award or any shares of Common Stock, cash or other property delivered in
respect of an Award.] 
 (bb) [“Transferability Date” means the date Transfer Restrictions on a Restricted Share will be
released. Within 30 Business Days after the applicable Transferability Date, GS Inc. shall take, or shall cause to be taken, such steps as may be necessary to remove Transfer Restrictions.] 

(cc) “Vested” means, with respect to an Award, the portion of the Award that is not subject to a condition that the Grantee
remain actively employed by the Firm in order for the Award to remain Outstanding. The fact that an Award becomes Vested shall not mean or otherwise indicate that the Grantee has an unconditional or nonforfeitable right to such Award, and such Award
shall remain subject to such terms, conditions and forfeiture provisions as may be provided for in the Plan or in the Award Agreement. 

  
 -19-EX-10.59

 Exhibit 10.59 

The Goldman Sachs Group, Inc. 

SIGNATURE CARD
FOR                 AWARDS 

AND CONSENT TO RECEIVE ELECTRONIC DELIVERY 

 

IMPORTANT: PLEASE REVIEW, EXECUTE AND RETURN THIS FORM
TO:                          

YOU MUST PROPERLY EXECUTE THIS FORM TO ACKNOWLEDGE ACCEPTANCE OF THE TERMS AND CONDITIONS OF 

YOUR AWARD(S) AND RELATED MATTERS. 

 

 1.    I have received and agree to be bound by The Goldman Sachs Amended and Restated Stock
Incentive Plan (2018) (the “SIP”) and the Award Agreement(s) applicable to me in connection with the
                         Award(s) (the “Award(s)”) that I have been granted by the Firm (as defined in the SIP). I
confirm that I am accepting the Award(s) subject to the terms and conditions contained in the SIP, the Award Agreement(s), and this signature card (the “Signature Card”), including, but not limited to, the requirement that certain disputes
be decided through arbitration in New York City and be governed by New York law. For the avoidance of doubt, references to a “share” or “Share” herein mean a share of the common stock of The Goldman Sachs Group, Inc. (“GS
Inc.”) and, where applicable, deliveries of cash or other property in lieu thereof. 
 For the avoidance of doubt, I understand and agree that to be
eligible to receive any award under the SIP or any predecessor plan, I must not have engaged in any conduct constituting “Cause” (as defined in the SIP) prior to the grant of the award, and by accepting this Award, I represent and warrant
that I have not engaged in any conduct constituting Cause. 
 As a condition of this grant, I understand that the Award(s) (as well as any other award that
the Firm may grant to me under the SIP) is/are subject to governing law provisions as outlined in this Signature Card or in the applicable Award Agreement(s), and, as a condition to receiving such awards, I agree to be bound thereby. As a condition
of this grant, I agree to provide upon request an appropriate certification regarding my U.S. tax status on Form W-8BEN, Form W-9, or other appropriate form, and I
understand that failure to supply a required form may result in the imposition of backup withholding on certain payments I receive pursuant to this grant. 

I irrevocably grant full power and authority to GS Inc. to register in its name, or that of any designee, any and all Restricted Shares (as defined in the
applicable Award Agreement), Shares at Risk (as defined in the applicable Award Agreement) or other shares of GS Inc. common stock that have been or may be delivered to me subject to transfer restrictions or forfeiture provisions, and I irrevocably
authorize GS Inc., or its designee, to sell, assign or transfer such shares to GS Inc. or such other persons as it may determine in the event of a forfeiture of such shares pursuant to any agreement with GS Inc.

 Further, as a condition of this grant, if I am a person who has worked in the United Kingdom at any time
during the earnings period relating to any award under the SIP, as determined by the Firm, when requested and as directed by the Firm, I will agree to a Joint Election under s431 ITEPA 2003 of the laws of the United Kingdom for full or partial
disapplication of Chapter 2 Income Tax (Earnings and Pension) Act 2003 under the laws of the United Kingdom and will sign and return such election in respect of all future deliveries of Shares underlying the Award(s) and any previous grants made to
me under the SIP and understand that the Firm intends to meet its delivery obligations in Shares with respect to my Award(s), except as may be prohibited by law or described in the accompanying Award Agreement(s) or supplementary materials. 

If I have worked in Switzerland at any time during the earnings period relating to the Award(s) granted to me as determined by the Firm, (i) I
acknowledge that my Award(s) are subject to tax in accordance with the rulings and method of calculation of taxable values to be agreed by the Firm with the Federal and/or Zurich/Geneva cantonal/communal tax authorities or as otherwise directed by
the Firm, and (ii) I hereby agree to be bound by any rulings agreed by the Firm in respect of any Award(s), which is expected to result in taxation at the time of delivery of Shares, and (iii) I undertake to declare and make a full and
accurate income tax declaration in respect of my Award(s) in accordance with the above ruling or as directed by the Firm. 
 2. I have read and understand
the Firm’s “Notice Periods for Recipients of Year-End Equity-Based Awards” policy (the “Notice Policy”) available through the HR
Workways® link on GSWeb or as otherwise provided to me, pursuant to which I am required to provide certain specified advance notice of my intent to leave employment with the Firm. By executing
this form, I am agreeing to be bound by the Notice Policy as in effect from time to time and, where applicable, am agreeing to a permanent change in the terms and conditions of my employment. I agree to this change in consideration of my continued
employment with the Firm and the Firm’s offer of the Award(s). I understand that the Notice Policy requires me, among other things, to provide my employing entity with advance written notice of my intention to leave employment with the Firm as
follows: 
  

	 	•	 	In the Americas: 60 days in advance of my termination date; 

  

	 	•	 	In Europe, the Middle East, Africa and India: 90 days in advance of my termination date; and

 

	 	•	 	In Japan and Asia Ex-Japan (including Australia and New Zealand and excluding India): 90 days in advance of my termination date if I am a Vice President or an Executive Director;
60 days in advance of my termination date in all other cases. 

 If, under local law or my contract of employment (for example, a Managing
Director Agreement), I have a notice requirement that is longer than those specified above, I understand that the longer notice period will apply. I also understand that if my employment is subject to a probation period, the Notice Policy applies
only if notice of termination is given after the probation period has ended. 
 I understand that if I fail to comply in any respect with the Notice Policy,
I will have failed to meet an obligation I have under an agreement with the Firm, as a result of which the Firm may have certain legal and equitable rights and remedies, including, without limitation, forfeiture of the Award(s) and any other awards
granted to me under the SIP. The Firm may forfeit such Award(s) for violation of the Notice Policy irrespective of whether this agreement constitutes a legally recognized permanent change to my terms and conditions of employment, and irrespective of
whether applicable law permits me to make a payment in lieu of notice. In addition, the Firm may seek an order or injunction from a court or arbitration panel to stop a breach and may also seek other permissible remedies. The Firm may hold me
personally liable for any damages it suffers as a result of the breach. 
 This agreement concerning my notice period is being made for and on behalf of my
Goldman Sachs employing entity, and implementation of the Notice Policy does not create an employment relationship between me and GS Inc. 
 3. I have read
and understand the Firm’s hedging and pledging policies (including, without limitation, the Firm’s “Policies with Respect to Personal Transactions Involving GS Securities and GS Equity Awards”), and agree to be bound by them
(with respect to the Award(s) and any prior awards under the SIP), both during and following my employment with the Firm. 
 4. As a condition to this grant,
I agree to open and activate any brokerage, trust, sub-trust, custody or similar account (an “Account”), as required or approved by the Firm in its sole discretion. I agree to access, review, execute
and be bound by any agreements that govern any such Account, including any provisions that provide for the applicable restrictions on transfers, pledges and withdrawals of Shares, permitting the Firm to monitor any such Account, and the limitations
on the liability of the party (which may not be affiliated with the Firm) providing the Account and the Firm. I understand and agree that the Firm may direct the transfer of securities, cash or other assets in my Account to the Firm in connection
with any indebtedness or any other obligation that I have to the Firm, as determined by the Firm in its sole discretion, however such obligation may have arisen. I also agree to open an Account with any other custodian, broker, trustee, transfer
agent or similar party selected by the Firm, if the Firm, in its sole discretion, requires me to open an account with such custodian, broker, trustee, transfer agent or similar party as a condition to delivery of Shares underlying the Award(s).

 5. If the Firm advanced or loaned me funds to pay certain taxes (including income taxes and Social Security, or
similar contributions) in connection with the Award(s) (or does so in the future), and if I have not signed a separate loan agreement governing repayment, I authorize the Firm to withhold from my compensation any amounts required to reimburse it for
any such advance or loan to the extent permitted by applicable law. 
 I understand and agree that, if I leave the Firm, I am required immediately to repay
any outstanding amount. I further understand and agree that the Firm has the right to offset, to the extent permitted by the Award Agreement and applicable law (including Section 409A of the U.S. Internal Revenue Code of 1986, as amended, which
limits the Firm’s ability to offset in the case of United States taxpayers under certain circumstances), any outstanding amounts that I then owe the Firm against its delivery obligations under the Award(s), against any obligations to remove
restrictions and/or other terms and conditions in respect of any Restricted Shares or Shares at Risk (each as defined in the applicable Award Agreement) or against any other amounts the Firm then owes me, including payments of dividends or dividend
equivalent payments. I understand that the delivery of Shares pursuant to the Award(s) is conditioned on my satisfaction of any applicable taxes or Social Security contributions (collectively referred to as “tax” or “taxes” for
purposes of the SIP and all related documents) in accordance with the SIP. To the extent permitted by applicable law, the Firm, in its sole discretion, may require me to provide amounts equal to all or a portion of any Federal, State, local, foreign
or other tax obligations imposed on me or the Firm in connection with the grant, vesting or delivery of the Award(s) by requiring me to choose between remitting such amount (i) in cash (or through payroll deduction or otherwise), (ii) in the
form of proceeds from the Firm’s executing a sale of Shares delivered to me pursuant to the Award(s) or (iii) as otherwise permitted in the Award Agreement(s). However, in no event shall any such choice determine, or give me any
discretion to affect, the timing of the delivery of Shares or payment of tax obligations. 
 6. In connection with any Award Agreement or other interest I
may receive in the SIP or any Shares that I may receive in connection with the Award(s) or any award I have previously received or may receive, or in connection with any amendment or variation thereof or any documents listed in paragraph 7, I hereby
consent to (a) the acceptance by me of the Award(s) electronically, (b) the giving of instructions in electronic form whether by me or the Firm, and (c) the receipt in electronic form at my email address maintained at Goldman Sachs or
via Goldman Sachs’ intranet site (or, if I am no longer employed by the Firm, at such other email address as I may specify, or via such other electronic means as the Firm and I may agree) all notices and information that the Firm is required by
law to send to me in connection therewith including, without limitation, any document (or part thereof) constituting part of a prospectus covering securities that have been registered under the U.S. Securities Act of 1933, the information contained
in any such document and any information required to be delivered to me under Rule 428 of the U.S. Securities Act of 1933, including,

 

  
 -2- 

 
for example, the annual report to security holders or the annual report on Form 10-K of GS Inc. for its latest fiscal year, and that all prior elections
that I may have made relating to the delivery of any such document in physical form are hereby revoked and superseded. I agree to check Goldman Sachs’ intranet site (or, if I am no longer employed by the Firm, such other electronic site as
notified to me by the Firm) periodically as I deem appropriate for any new notices or information concerning the SIP. I understand that I am not required to consent to the receipt of such documents in electronic form in order to receive the Award(s)
and that I may decline to receive such documents in electronic form by contacting
                                , which will provide me with hard copies of such
documents upon request. I also understand that this consent is voluntary and may be revoked at any time on three business days’ written notice. 
 7. I
hereby acknowledge that I have received in electronic form in accordance with my consent in paragraph 6 the following documents: 
  

	 	•	 	The Goldman Sachs Amended and Restated Stock Incentive Plan (2018); 

  

	 	•	 	Summary of The Goldman Sachs Amended and Restated Stock Incentive Plan (2018); 

  

	 	•	 	The annual report on Form 10-K for The Goldman Sachs Group, Inc. for the fiscal year ended
December 31,             ;                 

 

	 	•	 	The Award Agreement(s); and 

  

	 	•	 	Summaries of the Award(s) (“Award Summary”). 

 8.    I expressly authorize any
appropriate representative of the Firm to make any notifications, filings or remittances of funds that may be required in connection with the SIP or otherwise on my behalf. Further, if I am an employee who is resident in South Africa at a
relevant time, by accepting my Award(s), I expressly authorize any appropriate representative of the Firm to make any required notification on my behalf to the Financial Surveillance Department of the South African Reserve Bank (or its authorized
dealer) in relation to my participation in the SIP and to any acquisition of Shares for no consideration under the SIP or other similar filing that may otherwise be required in South Africa. I acknowledge that any such authorization is effective
from the date of acceptance of my Award(s) until such time as I expressly revoke the authorization by written notice to any appropriate representative of the Firm. I understand that this authorization does not create any obligation on the Firm to
deal with any such notifications, filings or remittances of funds that I may be required to make in connection with the SIP and I accept full responsibility in this regard. 

9. The granting of the Award(s), the delivery of the underlying Shares and any subsequent dividends or dividend equivalent payments, and the receipt of any
proceeds in connection with the Award(s) may result in legal or regulatory requirements in some jurisdictions. I understand and agree that it is my responsibility to ensure that I comply with any legal or regulatory requirements in respect of the
Award(s). 

 10. I confirm that I have filed all tax returns that I am required to file and paid all taxes I am required to
pay with respect to awards previously granted to me by the Firm, and I agree, with respect to both the Award(s) as well as awards previously granted to me by the Firm, to file all tax returns I am required to file in connection with the Award(s) and
any sales of any Shares or other property delivered pursuant to the Award(s) and to pay all taxes I am required to pay. 
 11. The goodwill associated with
the relationships between the Firm and its clients and prospective clients is a valuable asset of the Firm that is built and preserved through the combined services and efforts of the Firm and all of its personnel. The Firm provides its employees
with a unique platform of financial products and services, confidential and proprietary information, professional training, access to specialized expertise, research, analytical, operational, and business development support, travel and
entertainment expenses and other valuable resources to build and enhance the goodwill associated with the relationships between the Firm and its clients, as well as to foster and establish such relationships with prospective clients. Accordingly, I
acknowledge and agree that (i) because the Firm contributes valuable resources to build and enhance client relationships, including those for which I provide services, it has a legitimate and essential business interest in protecting the
goodwill associated with those relationships; (ii) by my continued employment, I confirm that I have assigned and will assign to the Firm all goodwill I have developed or will develop with persons or entities with whom I interact while at the
Firm and/or who are or will become clients or prospective clients of the Firm in connection with my employment with the Firm, even if I did business with such persons or entities prior to joining the Firm; and (iii) while at the Firm I do not
have and will not acquire any property, proprietary, contractual or other legal right or interest whatsoever in or to any client or prospective client with whom I interact or conduct business while employed by the Firm or (except to the extent
otherwise provided in a written agreement between the Firm and me that governs my compensation) to any current or prospective revenues associated with such client or prospective client (all such interests being referred to herein as “Intangible
Interests”). For the avoidance of doubt, I am hereby assigning all Intangible Interests to the Firm. I acknowledge and agree that my compensation during the term of my employment with the Firm is adequate financial consideration in this regard,
and that no further consideration is necessary (including in respect of obligations applicable to me after my employment with the Firm has ended). 
 12. I
understand and agree that the terms of any award granted to me under the SIP or any predecessor plan that provide for accelerated vesting, delivery or transferability as a result of Conflicted Employment (as defined in the applicable Award
Agreement) may be limited to the extent prohibited by applicable law or regulation. 

 

  
 -3- 

 Data Collection, Processing and Transfers: 

 

Grantees residing outside of the European Economic Area (EEA): If I am located outside of the EEA, I consent to the
processing of my personal data in accordance with the information set out below. 
 Grantees residing in the European Economic Area
(EEA): If I am located in the EEA, my personal data will be processed in accordance with the information set out below and in the GS HCM – Fair Processing Notice which can be found at
http://www.goldmansachs.com/notices/hcm-fpn.html. In the event of any inconsistency the GS HCM – Fair Processing Notice shall prevail over this section. 

In connection with the SIP and any other Firm benefit plan (the “Programs”), to the extent permitted under
the laws of the applicable jurisdiction, the Firm may collect, process, transfer/transmit (internationally and/or domestically), and use various data that is personal to me, and my data might be deemed sensitive personal data in certain
jurisdictions, including but not limited to my name, address, work location, hire date, Social Security or Social Insurance or taxpayer identification number (required for tax purposes), type and amount of SIP or other benefit plan award,
citizenship or residency (required for tax purposes) and other similar information reasonably necessary for the administration of such Programs (collectively referred to as “Information”) and provide such Information to its affiliates ,
Computershare Limited and its affiliates (collectively “Computershare”) and Fidelity Stock Plan Services, LLC, Fidelity Personal Trust Company, FSB and any of their affiliates (collectively “Fidelity”) or any other service
provider, whether in the United States or elsewhere, as is reasonably necessary for the administration of the Programs and under the laws of these jurisdictions. In certain circumstances, where required by law, foreign courts, law enforcement
agencies or regulatory agencies may be entitled to access the Information. Unless I explicitly authorize otherwise, the Firm, its affiliates and its service providers (through their respective employees in charge of the relevant electronic and
manual processing) will collect, process, transfer/transmit (internationally and/or domestically), and use this Information only for purposes of administering the Programs. In the United States and in other countries to which such Information may be
transferred for the administration of the Programs, the level of data protection is not equivalent to data protection standards in the member states of the EEA, Switzerland, Canada or certain Canadian provinces or my home country and U.S. public
authorities may potentially access such Information. If I am employed in Argentina, I have also read the text in bold in the respective Argentina legal notice below (the “Argentina Clause”) in conjunction with this Data Collection,
Processing and Transfers section, such text forms part of this section and that in the event of any inconsistency the Argentina Clause shall prevail over this section. Upon request to Equity Compensation (division of

HCM), 200 West Street, 19th Floor, New York, NY 10282, telephone
(212) 357-1444, email EquityCompensation@ny.email.gs.com, to the extent required under the laws of the applicable jurisdiction, I may have access to and obtain communication of the Information and may exercise
any of my rights in respect of such Information, in each case free of charge, including objecting to the collecting, processing, (international and/or domestic) transfer/transmission, and any use of the Information and requesting that the
Information be updated or corrected (if wrong), completed or clarified (if incomplete or equivocal), or erased (if cannot legally be collected or kept). Upon request, to the extent required under the laws of the applicable jurisdiction, Equity
Compensation (division of HCM) will also provide me, free of charge, with a list of all the service providers used in connection with the Programs at the time of request. There is no legal obligation for me to provide the Firm with the Information
and any Information is provided at my own will and consent. If I refuse to authorize the collecting, processing, use and (international and/or domestic) transfer/transmission of the Information consistent with the above, I may not benefit from the
Programs. The collecting, processing, use and (international and/or domestic) transfer/transmission of the Information will be consistent with the above for the period of administration of the Programs. In particular (within the limits described
above): (i) the Firm will process data (Firm means GS Inc. and any of its subsidiaries and affiliates); (ii) Fidelity or Computershare will process data; (iii) the Firm’s other service providers will process data; and (iv) data will
be transferred to the United States and other countries, as described above for the purposes set forth herein. A list of the Firm’s international offices and countries to which data that is personal to me can be transferred is set forth at http://www2.goldmansachs.com/who-we-are/locations/index.html. The Information may be retained by the aforementioned persons beyond the period of administration of the
Programs to the extent permitted under the laws of the applicable jurisdiction. 

 Other Legal Notices: 

In addition, by accepting (whether expressly or by implication) any benefit granted to you by the Firm, including without limitation your Award(s), you
acknowledge and agree to each of the following: 
  

	 	•	 	No Public Offer: Awards under the SIP and the Firm’s other compensation and benefit programs are strictly limited to eligible participants and are not intended to constitute a public offer in any
jurisdiction, nor intended for registration in any jurisdiction outside of the U.S. You should keep all Award-related documents confidential and you may not reproduce, distribute or otherwise make public any part of such documents without the
Firm’s express written consent. If you have received any such documents and you are not the intended recipient, please disregard and destroy them.

 

  
 -4- 

	 	•	 	Transferability: Any provisions permitting transfers to a third party in the Award documents will not apply to you (i) to the extent that the applicability of those provisions would affect the
availability of relevant exemptions or tax favorable treatment, or (ii) otherwise in circumstances determined by the Firm in its sole discretion from time to time. 

 

	 	•	 	Adequate Information: You acknowledge that you (i) have been provided with all relevant information and materials with respect to the Firm’s operations and financial conditions and the terms and
conditions of your Award(s), (ii) have read and understood such information and materials, (iii) are fully aware and knowledgeable of the terms and conditions of your Award(s), and (iv) completely and voluntarily agree to the terms and
conditions of your Award(s). 

  

	 	•	 	Independent Advice Recommended: The information provided by the Firm or its service providers in respect of an Award does not take into account the individual circumstances of recipients and does not
constitute investment advice. Awards under the SIP involve certain risks and you should exercise caution. The Firm recommends that you consult your own independent legal, financial and tax advisors in all cases, and you acknowledge that you are
provided with adequate opportunity to do so. 

  

	 	•	 	No Employer Involvement: Except to the extent required by applicable law, all Awards are offered, issued and administered by GS Inc., a Delaware corporation, and your employer (if it is not GS Inc.) is not
involved in the grant of your Award(s) or any other GS Inc. equity compensation. All documents related to the Awards, including the SIP, the Award Agreement, this Signature Card and the link by which you access these documents, are originated and
maintained in the United States. 

  

	 	•	 	No Effect on Employment-Related Rights: Any compensation you receive (even on a regular and repeated basis) in connection with the SIP is discretionary and does not constitute part of your base or normal
salary or wages. It does not affect your rights and obligations under the terms of your employment and it will not be taken into account (except to the extent otherwise required by applicable law) in determining any other employment-related rights
you may have, including without limitation rights in relation to severance, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement
benefits. In particular you waive any and all rights to compensation or damages in consequence of the termination of your employment for any reason whatsoever insofar as those rights arise or may arise from your ceasing to have rights under, or be
entitled to receive payment in respect of, the SIP as a result of such termination, or from the loss or diminution in value of such rights or entitlements. This waiver applies whether or not such termination amounts to wrongful or unfair dismissal.

	 	•	 	No Additional Entitlements: The grant of an Award is strictly discretionary and voluntary and neither this Award (even if Award grants are made to you on a regular and repeated basis) nor your employment
contract implies any expectation or right in relation to (i) the grant of any Award or similar compensation in the future, (ii) the terms, conditions and amount of any Award or similar compensation that the Firm may decide to grant in
future, or (iii) continued employment in connection with any Award. 

  

	 	•	 	Translations: The official Award documents (including contracts and communications) are in the English language. You are responsible for ensuring that you fully understand these documents. The English
version of the documents will always prevail in the event of any inconsistency with translated or interpreted documents. 

  

	 	•	 	Severability: If any provision (in whole or in part) of this Signature Card or the other Award documents is to any extent illegal, otherwise invalid, or incapable of being enforced, that provision will be
excluded to the extent (only) of such invalidity or unenforceability. All other provisions will remain in full effect and, to the extent possible, the invalid or unenforceable provision will be deemed replaced by a provision that is valid and
enforceable and that comes closest to expressing the intention of such invalid or unenforceable provision. 

  

	 	•	 	Country-Specific Legal Notices: You have read the country-specific legal notices below that pertain to your place of employment and/or residence (and also the location of your employer, if different), if
any, and understand that they apply throughout the term of your Award(s). 

 [NON-COMPETITION AND NON-SOLICITATION RESTRICTIONS FOR EMPLOYEES PROVIDING SERVICES IN ASIA 
 In addition to and without limiting any
provisions in the SIP or the applicable Award Agreement(s) (including without limitation the Award vesting, delivery, forfeiture, termination or repayment provisions) unless provided otherwise in the Restrictions, if I am providing services to the
Firm in Asia or to BGH, in view of my importance to the Firm and/or BGH, I hereby agree to and acknowledge the following: 
 (a) I hereby agree that the Firm
or BGH would likely suffer significant harm if I associate with a Covered Enterprise during my employment and for some period of time after my employment ends. Accordingly, I hereby agree that I will not, without the written consent of the Firm or
BGH, during the Restricted Period in the Geographic Area: 
 (i) form, or acquire a 5% or greater equity ownership, voting or profit
participation interest in, any Covered Enterprise; or 

 

  
 -5- 

 (ii) associate (including, but not limited to, association as an officer, employee, partner,
director, consultant, agent or advisor) with any Covered Enterprise and in connection with such association engage in, or directly or indirectly manage or supervise personnel engaged in, any activity: 

A. which is similar or substantially related to any activity in which I was engaged, in whole or in part, at the Firm or BGH, 

B. for which I had direct or indirect managerial or supervisory responsibility at the Firm or BGH, or 

C. which calls for the application of the same or similar specialized knowledge or skills as those utilized by me in my activities with the
Firm or BGH, 
 each such activity being determined with reference to the one-year period immediately prior to the
end of the Asia Service Period, and, in each such case, irrespective of the purpose of the activity or whether the activity is or was in furtherance of advisory, agency, proprietary or fiduciary business of either the Firm or BGH or the Covered
Enterprise. 
 (By way of example only, this provision precludes an “advisory” investment banker from joining a leveraged-buyout firm, a research
analyst from becoming a proprietary trader or joining a hedge fund, or an information systems professional from joining a management or other consulting firm and providing information technology consulting services or advice to any Covered
Enterprise, in each case without the written consent of the Firm or BGH.) 
 (b) I hereby agree that during the Restricted Period, I will not, in any manner,
directly or indirectly, (1) Solicit a Client to transact business with a Covered Enterprise or to reduce or refrain from doing any business with the Firm or BGH, or (2) interfere with or damage (or attempt to interfere with or damage) any
relationship between the Firm or BGH and a Client. 
 (c) I hereby agree that during the Restricted Period, I will not, in any manner, directly or
indirectly: 
 (i) Solicit any Selected Firm Personnel to resign from the Firm or BGH; 

(ii) Solicit any Selected Firm Personnel to apply for or accept employment (or other association) with any person or entity other than the
Firm; or 
 (iii) hire or participate in the hiring of any Selected Firm Personnel (whether as an employee, consultant or otherwise) by any
person or entity other than the Firm, including, without limitation, participating in the identification of individuals for potential hire, and participating in any hiring decision. 

I acknowledge and agree that I will have violated this provision if, during the Restricted Period, any Selected Firm Personnel are Solicited or hired: 

(i) by any entity which I form, which bears my name, or in which I possess or control greater than a de minimis equity ownership, voting or
profit participation; or 

 (ii) by any entity where I have, or will have, direct or indirect managerial responsibility
for such Selected Firm Personnel. 
 (d) I acknowledge and agree that these Restrictions form part of my terms and conditions of employment. I also
acknowledge and agree that these Restrictions supersede any part of any other agreement (which, for the avoidance of doubt, excludes the SIP and the Award Agreement(s)), written or oral, that I am subject to in respect of the same subject matter
unless I am notified in writing to the contrary. 
 (e) Prior to accepting employment with any other person or entity during the Restricted Period, I will
provide any prospective employer with written notice of the Restrictions with a copy containing the prospective employer’s name and contact information delivered simultaneously to the Firm. 

(f) I understand that the Restrictions may limit my ability to earn a livelihood in a business similar to the business of the Firm or BGH. I acknowledge that a
violation on my part of any of the Restrictions would cause immeasurable and irreparable damage to the Firm or BGH. Accordingly, I agree that the Firm and/or BGH will be entitled to injunctive relief in any court of competent jurisdiction for any
actual or threatened violation of any of the Restrictions in addition to any other remedies it or they may have. In the event that I violate any of the Restrictions, I acknowledge that the Restricted Period shall automatically be extended by the
period of time that I was in violation of the said Restriction(s). I also acknowledge that a violation of any of the Restrictions would constitute my failure to meet an obligation I have under an agreement between me and the Firm that was entered
into in connection with my employment with the Firm and/or BGH, may be detrimental to the Firm and/or BGH and would constitute “Cause” for purposes of any equity-based awards granted to me by the Firm and/or BGH and will result in my
forfeiting such equity-based awards. 
 (g) If any provision (or part of a provision) of the Restrictions is held by a court of competent jurisdiction to be
invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the remaining such provisions will not be affected
thereby; provided, however, that if any of the Restrictions are held by a court of competent jurisdiction to be invalid, illegal or unenforceable because it exceeds the maximum time period such court determines is acceptable to permit such provision
to be enforceable, such Restrictions will be deemed to be modified to the minimum extent necessary to modify such time period in order to make such provision enforceable hereunder. 

(h) The promises contained in the Restrictions are provided by me for the benefit of each Firm entity and BGH and I acknowledge and agree that each such entity
may independently enforce the Restrictions against me. Any benefit that I give or am deemed to have given by virtue of the Restrictions is received jointly and severally by each Firm entity (including, for the avoidance of doubt, any Firm entity to
which I provide services from time to time) and BGH. 

 

  
 -6- 

 (i) For the purposes of the Restrictions, GS Inc. enters into the SIP and Award Agreement(s) applicable to me in
connection with the Award(s) in its own capacity and as agent for each other Firm entity and BGH. The consideration for the promises in these Restrictions is given to me by GS Inc. on its own behalf and on behalf of each other Firm entity
(including, for the avoidance of doubt, any Firm entity to which I provide services from time to time) and BGH. 
 (j) I acknowledge that the Restrictions
set out in this clause are reasonable and necessary for the protection of the legitimate interests of the Firm and/or BGH, and that, having regard to those interests, such restrictions do not impose an unreasonable burden on me. 

(k) The Restrictions shall remain in full force and effect and survive the termination of my employment for any reason whatsoever. 

(l) If I am subject to the Non-Competition and Non-Solicitation Agreement for
Select Employees in the Equities Division, or a Managing Director subject to a Goldman Sachs Group, Inc. Managing Director Agreement, the Restrictions shall not apply to me. 

(m) If I am a Private Wealth Management employee subject to an Employee Agreement Regarding Confidential and Proprietary Information and Materials and Non-Solicitation, I will be subject to the restrictions contained in clause (a) of the Restrictions but will not be subject to the restrictions contained in clauses (b) and (c) of the Restrictions. Nothing
in the Restrictions will affect the operation of the Employee Agreement Regarding Confidential and Proprietary Information and Materials and Non-Solicitation. 

(n) For the purposes of the Restrictions only, the following terms have the following meanings: 

“Asia” means each state and territory in Australia, Brunei, Hong Kong SAR, India, Indonesia, Japan, Korea, Labuan,
Macau SAR, Malaysia, Mongolia, New Zealand, Papua New Guinea, the Philippines, the PRC, Singapore, Taiwan, Thailand and Vietnam.  

“Asia Service Period” means the period during which I am located in Asia and contracted to provide services to a
member of the Firm in Asia or BGH. For the avoidance of doubt, the Asia Service Period does not end when I transfer to another member of the Firm in Asia or BGH. 

“BGH” means Beijing Gao Hua Securities Company Limited, its subsidiaries and affiliates, and its or their respective
successors. 
 “Client” means any client or prospective client of the Firm or BGH (i) to whom I
provided services at any time during the one year period immediately prior to the end of the Asia Service Period, or (ii) for whom I transacted business or solicited at any time during the one year period immediately prior to the end of the
Asia Service Period, or (iii) whose identity became known to me in connection with my employment by the Firm or BGH at any time during the one year period immediately prior to the end of the Asia Service Period.

 “Competitive Enterprise” means an existing or planned business
enterprise that (i) engages, or may reasonably be expected to engage, in any activity, (ii) owns or controls, or may reasonably be expected to own or control, a significant interest in or (iii) is, or may reasonably be expected to be,
owned by, or a significant interest in which is, or may reasonably expected to be, owned or controlled by, any entity that engages in any activity that, in any case, competes or will compete anywhere with any activity in which the Firm or BGH is
engaged. The activities covered by this definition include, without limitation, financial services such as investment banking, public or private finance, lending, financial advisory services, private investing (for anyone other than me and members
of my family), merchant banking, asset or hedge fund management, insurance or reinsurance underwriting or brokerage, property management, or securities, futures, commodities, energy, derivatives or currency brokerage, sales, lending, custody,
clearance, settlement or trading. 
 “Covered Enterprise” means a Competitive Enterprise and any other existing or
planned business enterprise that: (i) offers, holds itself out as offering or reasonably may be expected to offer products or services that are the same as or similar to those offered by the Firm or BGH or that the Firm or BGH reasonably
expects to offer (“Firm Products or Services”) or (ii) engages in, holds itself out as engaging in or reasonably may be expected to engage in any other activity that is the same as or similar to any financial activity engaged in by
the Firm or BGH or in which the Firm or BGH reasonably expects to engage (“Firm Activities”). For the avoidance of doubt, Firm Activities include any activity that requires the same or similar skills as any financial activity engaged in by
the Firm or BGH or in which the Firm or BGH reasonably expects to engage, irrespective of whether any such financial activity is in furtherance of an advisory, agency, proprietary or fiduciary undertaking. 

The enterprises covered by this definition include enterprises that offer, hold themselves out as offering or reasonably may be expected to
offer Firm Products or Services, or engage in, hold themselves out as engaging in or reasonably may be expected to engage in Firm Activities directly, as well as those that do so indirectly by ownership or control (e.g., by owning, being
owned by or by being under common ownership with an enterprise that offers, holds itself out as offering or reasonably may be expected to offer Firm Products or Services or that engages in, holds itself out as engaging in or reasonably may be
expected to engage in Firm Activities). The definition of Covered Enterprise includes, solely by way of example, any enterprise that offers, holds itself out as offering or reasonably may be expected to offer any product or service, or engages in,
holds itself out as engaging in or reasonably may be expected to engage in any activity, in any case, associated with investment banking; public or private finance; lending; financial advisory services; private investing for anyone other than me or
members of my family (including, for the avoidance of doubt, any type of proprietary investing or trading); private wealth management; private banking; consumer or commercial cash management; consumer, digital, or commercial banking; merchant
banking; 

 

  
 -7- 

 
asset, portfolio or hedge fund management; insurance or reinsurance underwriting or brokerage; property management; or securities, futures, commodities, energy, derivatives, currency or digital
asset brokerage, sales, lending, custody, clearance, settlement or trading. An enterprise that offers, holds itself out as offering or reasonably may be expected to offer Firm Products or Services, or engages in, holds itself out as engaging in or
reasonably may be expected to engage in Firm Activities is a Covered Enterprise, irrespective of whether the enterprise is a customer, client or counterparty of the Firm or BGH or is otherwise associated with the Firm or BGH and, because each of
the Firm and BGH is a global enterprise, irrespective of where the Covered Enterprise is physically located. 
 “Covered
Extended Absence” means my absence from active employment for at least 180 days in any 12-month period as a result of my incapacity due to mental or physical illness, as determined by the Firm or
BGH (as applicable). 
 “Effective Date” means (i) if the termination is for cause or Covered Extended
Absence, the date on which such termination occurs; or (ii) if I repudiate my employment contract, the date of repudiation as determined by the Firm or BGH (as applicable). 

“Firm” means GS Inc., its subsidiaries and affiliates and its and their respective successors. 

“Geographic Area” means (i) the jurisdiction in Asia in which I am located as of the date of execution of the
Signature Card; and/or (ii) any other jurisdiction in Asia in relation to which I have substantial product and/or geographical market responsibilities in the one year period immediately prior to the end of the Asia Service Period; and/or
(iii) any other jurisdiction in Asia in relation to which I have substantial employee managerial responsibilities in the one year period immediately prior to the end of the Asia Service Period; and/or (iv) any other jurisdiction in Asia in
relation to which I provided services in the one year period immediately prior to the end of the Asia Service Period. 

“PRC” means, for the purpose of the Restrictions, the People’s Republic of China, excluding Hong Kong SAR, Macau
SAR and Taiwan. 
 “Restricted Period” means (i) in the event of the termination of my employment with the
Firm in Asia or BGH, the Asia Service Period including any notice period applicable under the Notice Policy or, in the event I repudiate my notice requirement or exercise any statutory right to shorten the notice period or if my employment is
terminated without notice or if the Firm elects to shorten the notice period in whole or in part with or without pay in lieu for any period of notice that has been waived or reduced, the Asia Service Period and the period of time equivalent to my
notice requirement commencing from the Effective Date; or (ii) in the event of my employment with the Firm in Asia or BGH ending by reason of the transfer of my employment to another member of the Firm outside Asia, the Asia Service Period and
the period of time equivalent to my notice requirement commencing from the conclusion of the Asia Service Period; or (iii) in the event of the termination of

 
my secondment to the Firm in Asia or BGH and assignment or transfer of my employment to another member of the Firm outside Asia, the Asia Service Period and the period of time equivalent to my
notice requirement commencing from the conclusion of the Asia Service Period. 
 “Restrictions” means the non-competition and non-solicitation restrictions for employees providing services in Asia as set out in (a) to (o) of this section of the Signature Card. 

“Selected Firm Personnel” means any individual who is, or in the three months preceding the conduct prohibited by
(c) of this section of the Signature Card was (i) a Firm or BGH employee or consultant with whom I have personally worked with while employed by the Firm; (ii) a Firm or BGH employee or consultant who, at any time during the one-year period immediately prior to the end of the Asia Service Period, worked in the same division in which I worked; or (iii) an Advisory Director, a Managing Director, or a Senior Advisor of the Firm. 

“Solicit” means making any direct or indirect communication of any kind whatsoever, regardless of by whom initiated,
inviting, advising, suggesting, encouraging or requesting any person or entity, in any manner, to take or refrain from taking any action.     

(o)    Notwithstanding paragraph 1 of this Signature Card, the Restrictions shall be governed by and construed in accordance with the laws
of the jurisdiction in which I am located and providing services to the Firm at the date of execution of the Signature Card. If I am located and providing services to the Firm in a state or territory in Australia, the laws of the jurisdiction shall
be New South Wales. Notwithstanding paragraph 1, any Firm entity (including, for the avoidance of doubt, any Firm entity to which I provide services from time to time) or BGH may at any time elect to enforce the Restrictions in any competent court
of any jurisdiction determined by such entity.] 
 FOR ARGENTINA EMPLOYEES ONLY 

Your Award(s) are being offered to you in your capacity as an employee of the Firm. By receiving and accepting your Award(s), you are deemed to
(i) acknowledge that the underlying Shares have not been authorized by the Argentine Comisión Nacional de Valores (“CNV”) to be publicly offered in Argentina; and (ii) agree that you will not sell or offer to sell
any Shares acquired upon settlement of your Award(s) in Argentina other than pursuant to transactions that would not qualify as a public offering under article 2 of Argentine Law 26,831. 

The Award documents are being delivered to you in your capacity as an employee of the Firm. Accordingly, receipt and acceptance of the Award documents
constitute your agreement that the information contained in the Award documents may not (i) be reproduced or used, in whole or in part, for any purpose

 

  
 -8- 

 
whatsoever other than as a representation of your holding of Shares, or (ii) furnished to or discussed with any person (other than your personal advisors on a confidential basis) without the
express written permission of GS Inc. 
 You acknowledge that the Access to Public Information Agency, as the enforcing authority of Act 25.326, has the
power to attend the reports and claims from those who are affected in their rights consequence of non-fulfilment of data protection provisions. (La Agencia de Acceso a la Información Pública, en
su carácter de Órgano de Control de la Ley No 25.326, tiene la atribución de atender las denuncias y reclamos que interpongan quienes resulten afectados en sus derechos por incumplimiento de las normas vigentes en materia
de protección de datos personales.) 
 Additional data protection information for Argentina employees (which should be read in conjunction with,
and forms part of, the Data Collection, Processing and Transfers section above): 
 You understand that your data may be stored in a database duly
registered with the Argentine National Data Protection Agency, under the name and responsibility of GS Inc. or one of its subsidiaries or affiliates. 

FOR AUSTRALIA EMPLOYEES ONLY 
 GS Inc. undertakes that it
will, within a reasonable period of you so requesting and at no charge, provide you with a copy of the rules of the SIP. The market price of a Share can be accessed at the following link: https://www.nyse.com/index. The Australian dollar
equivalent of that market price can be ascertained by applying the prevailing USD/AUD exchange rate published by the Reserve Bank of Australia, which can be accessed at the following link:
http://www.rba.gov.au/statistics/frequency/exchange-rates.html. 
 Any advice given by GS Inc. in connection with the SIP is general advice only. The
documentation does not take into account the objectives, financial situation or needs of any particular person. Before acting on the information contained in the documentation, or making a decision to participate, you should consider obtaining your
own financial product advice from a person who is licensed by the Australian Securities and Investments Commission (ASIC) to give such advice. 
 Throughout
the period in which you hold a dividend equivalent right you may obtain copies of all information filed by GS Inc. with the U.S. Securities and Exchange Commission (SEC) which is accessible by GS Inc.’s shareholders and the general public
(“shareholder information”) by going to the SEC’s website (www.sec.gov) or to the GS Inc. website (www.gs.com), and at http://www.goldmansachs.com/investor-relations/financials/. You should be aware that
shareholder information can affect the value of your dividend equivalent rights from time to time.

 The actual value you receive in respect of the Shares acquired by you will depend on the number of Shares you
receive, the market value of a Share, the value of any dividend and dividend equivalent payments made in respect of a Share, and the USD/AUD exchange rate. 

There are risks associated with an investment in Shares and the value of any Shares you receive may be less than the value of those Shares today. Some of
those risks are specific to GS Inc.’s business activities while others are of a more general nature. For more detail on those risks, please refer to GS Inc.’s most recent annual report. Individually or in combination, those risks may
affect the value of Shares. 
 Fidelity Personal Trust Company, FSB (“Trustee”) will hold Shares that are the subject of Award(s). Any
Shares, and income gained, held on your behalf may only be dealt with by the Trustee with your direction. You may direct the Trustee on the exercise of any applicable voting rights that you hold in respect of such Shares. GS Inc. undertakes
that it will, within a reasonable period of you so requesting and at no charge, provide you with a copy of the trust deed.                  

FOR BRAZIL EMPLOYEES ONLY 
 The Award(s) referred to in
this document and the underlying Goldman Sachs shares have not been and will not be publicly issued, placed, distributed, offered or negotiated in the Brazilian capital markets and, as a result, will not be registered with the Brazilian Securities
Commission (Comissão de Valores Mobiliários). The Award(s) and the underlying Goldman Sachs shares will not be offered or sold in Brazil under any circumstances that constitute a public offering, placement, distribution or negotiation
under the Brazilian capital markets regulation. 
 By accepting the Award(s), you agree and acknowledge that (i) neither your employer nor any person
or entity acting on behalf of your employer has provided you with financial advice with respect to your Award(s) or the shares acquired upon settlement of your Award(s); and (ii) your employer does not guarantee a specified level of return on
your Award(s) or the registered shares. 
 According to Brazilian regulations, individuals resident in Brazil must inform the Central Bank of Brazil yearly
the amounts of any nature, the assets and rights (including cash and other deposits) held outside of the Brazilian territory. Please consult your own legal counsel on the terms and conditions for presentation of such information. 

By accepting the Award(s), you acknowledge that the Firm has provided you with Portuguese translations of the Award Summary, Award Agreement and Signature
Card, but that the original English versions of these documents control. (Ao aceitar esta outorga, Você reconhece que a Empresa Ihe disponibilizou a versão em português do Award Summary, do Award Agreement e do Signature Card;
porém a versão original em inglês desses documentos prevalecerá.) 

 

  
 -9- 

 FOR CHILE EMPLOYEES ONLY 

Neither GS Inc., the SIP nor the Shares have been registered in the Registro de Valores (Securities Registry) or in the Registro de Valores
Extranjeros (Foreign Securities Registry) of the Comisión para el Mercado Financiero (Chilean Commission for Financial Market or CMF) and they are not subject to the control of the CMF. If such securities are offered within Chile,
they will be offered and sold only pursuant to Norma de Carácter, General 336 (General Regulation 336) of the CMF, an exemption to the registration requirements, or in circumstances which do not constitute a public offer of securities
in Chile within the meaning of Article 4 of the Chilean Securities Market Law 18,045. As the Shares are not registered, the issuer has no obligation under Chilean law to deliver public information regarding the Shares in Chile. The Shares shall not
be subject to public offering in Chile unless they are registered in the Foreign Securities Registry of the CMF. The commencement date of the offer is the date on which these documents were first provided to you via email. 

You declare that you read and understand English and the fact that the official plan documents are in the English language does not represent any
inconvenience or prejudice to you. If you do not understand their content, please contact your HR contact in order to obtain a Spanish version. 
 Ni GS
Inc., ni el SIP, ni las Acciones, han sido registradas en el Registro de Valores o Registro de Valores Extranjeros que lleva la Comisión para el Mercado Financiero (CMF) y ninguno de ellos está sujeto a la fiscalización de la
CMF. Si dichos valores son ofrecidos dentro de Chile, serán ofrecidos y colocados sólo de acuerdo a la Norma de Carácter General 336 de la CMF, una excepción a la obligación de registro, o en circunstancias que no
constituyan una oferta pública de valores en Chile según lo definido por el Artículo 4 de la Ley 18.045 de Mercado de Valores de Chile. Por tratarse de valores no inscritos, el emisor de las Acciones no tiene obligación
bajo la ley chilena de entregar en Chile información pública acerca de las Acciones. Las Acciones no pueden ser ofrecidas públicamente en Chile en tanto éstas no se registren en el Registro de Valores Extranjeros de la
CMF. Se informa que la fecha de inicio de la presente oferta será aquella en que estos documentos fueron entregados a usted por primera vez vía email. 

Usted declara que lee y entiende el idioma inglés, de manera que el hecho de que los documentos oficiales del Plan se encuentran en idioma
inglés no representa ningún inconveniente o perjuicio para usted. En caso que usted no entienda el contenido de estos documentos, por favor comuníquese con su encargado de recursos humanos, a fin de obtener una versión en
español. 
 FOR THE PEOPLE’S REPUBLIC OF CHINA EMPLOYEES ONLY 

All documentation in relation to the Award(s) is intended for your personal use and in your capacity as an employee of the Firm (and/or its affiliate) and is
being given to you solely for

 
the purpose of providing you with information concerning the Award(s) which the Firm may grant to you as an employee of the Firm (and/or its affiliate) in accordance with the terms of the SIP,
this documentation and the applicable Award Agreement(s). The grant of the Award(s) has not been and will not be registered with the China Securities Regulatory Commission of the People’s Republic of China pursuant to relevant securities laws
and regulations, and the Award(s) may not be offered or sold within the mainland of the People’s Republic of China by means of any of the documentation in relation to the Award(s) through a public offering or in circumstances which require a
registration or approval of the China Securities Regulatory Commission of the People’s Republic of China in accordance with the relevant securities laws and regulations. 

You agree that notwithstanding anything to the contrary under the SIP or the Award Agreement(s), the Award(s) may be settled in cash in Renminbi or such other
currency, payable by your employing entity in the mainland of the People’s Republic of China or such other entity, in each case, as may be determined by the Firm in its sole discretion. 

FOR FRANCE EMPLOYEES ONLY 
 Disclaimer: The current
Award(s) is not covered by any prospectus which is the subject of the AMF’s approval. Grantees can only receive this award for their own account (“compte propre”) in the conditions laid down by articles L. 411-2, D. 411-1, D. 411-4, D. 744-1, D. 754-1 and D. 764-1 of the French Monetary and Financial Code. Any direct or indirect dissemination into the public of the financial instruments acquired can only take place within the conditions of articles L. 411-1, L. 411-2, L. 412-1 and L. 621-8 to L. 621-8-3 of the French Monetary and Financial Code. 
 By accepting the Award(s), you acknowledge that the Firm has
provided you with French translations of the Award Summary, Award Agreement and Signature Card, but that the original English versions of these documents control. 

The provisions of the Award Agreement will apply only in respect of the year to which the Award Agreement relates and will not in any circumstances create any
right or entitlement to you for any future fiscal years. 
 Avertissement: La présente attribution ne donne pas lieu à un prospectus soumis au
visa de l’Autorité des marchés financiers. Les personnes qui y participent ne peuvent le faire que pour compte propre dans les conditions fixées par les articles L. 411-2, D. 411-1,D.411-4, D. 744-1, D. 754-1 et D. 764-1 du Code
monetaire et financier. La diffusion, directe ou indirecte, dans le public des instruments financiers ainsi acquis, ne peut être réalisée que dans les conditions prévues aux articles L.
411-1, L. 411-2, L. 412-1 et L. 621-8 à L. 621-8-3 du Code monétaire et financier. 

 

  
 -10- 

 En acceptant cet octroi, vous reconnaissez que la Société vous a transmis une version
française de l’Award Summary (Résumé de l’Octroi), l’Award Agreement (Contrat d’Octroi) et de la Signature Card (Carte de Signature), mais que seule la version originale en langue
anglaise fait foi. 
 Les dispositions de l’Accord de prime s’appliquent uniquement à l’année concernée par
l’Accord de prime et ne créent en aucune circonstance tous droits ou habilitations s’agissant des années fiscales à venir. 

FOR GERMANY EMPLOYEES ONLY 
 The Award(s) are offered to
you by GS Inc. in accordance with the terms of the SIP which are summarized in the Award Summary. More information about GS Inc. is available on www.gs.com. You are being offered the Award(s) under the SIP in order to provide an additional incentive
and to encourage employee share ownership and so increase your interest in the Firm’s success. Please refer to the section entitled Shares Available for Awards in the SIP for information on the maximum number of GS Inc. shares that can
be offered under the SIP. The obligation to publish a prospectus under the Prospectus Directive does not apply to the offer because of Article 4(1)(e) of that directive. This document is not a prospectus within the meaning of that directive. 

Die Prämien werden Ihnen von der GS Inc. nach den in der Prämienübersicht aufgeführten Bestimmungen des Erwerbsplans angeboten. Weitere
Informationen über GS Inc. finden Sie unter www.gs.com. Die Prämien werden Ihnen im Rahmen des Erwerbsplans zu Ihrer Motivation angeboten und um Sie durch das Halten von Aktien am Erfolg des Unternehmens teilhaben zu lassen. Informationen
zur Anzahl der im Rahmen des Plans angebotenen GS Inc.-Aktien entnehmen Sie bitte dem Abschnitt Shares Available for Awards (Als Prämien erhältliche Aktien) im Erwerbsplan. Es besteht auf Grund von Artikel 4(1)(e) der
Prospektrichtlinie für dieses Angebot keine Verpflichtung zur Veröffentlichung eines Emissionsprospekts. Dieses Dokument ist kein Prospekt im Sinne dieser Richtlinie. 

FOR HONG KONG EMPLOYEES ONLY 
 WARNING: 

The contents of this document have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to this
Award(s). If you are in doubt about any of the contents of this document, you should obtain independent professional advice. 
 This document has not been,
and will not be, registered as a “prospectus” in Hong Kong under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32) nor has it been authorised by the Securities and Futures Commission in Hong Kong pursuant to the
Securities and Futures Ordinance (Cap 571) of the Laws of Hong Kong. This document does not

 
constitute an offer or invitation to the public in Hong Kong to acquire any securities nor an advertisement of securities in Hong Kong. This document is distributed on a confidential basis. 

By accepting the Award(s), you acknowledge and agree that you will not be permitted to transfer awards to persons who fall outside the definition of
‘qualifying persons’ in the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32) (i.e., a person who is not a current or former director, employee, officer, consultant of the Firm or a person other than the offeree’s
wife, husband, widow, widower, child or step-child under the age of 18 years, or as otherwise defined), even if otherwise permitted under the SIP or any of the related documents. 

FOR INDIA EMPLOYEES ONLY 
 This website does not invite
offers from the public for subscription or purchase of the securities of any body corporate under any law for the time being in force in India. The website is not a prospectus under the applicable laws for the time being in force in India. GS Inc.
does not intend to market, promote, invite offers for subscription or purchase of the securities of any body corporate by this website. The information provided on this website is for the record only. Any person who subscribes or purchases
securities of any body corporate should consult his own investment advisors before making any investments. GS Inc. shall not be liable or responsible for any such investment decision made by any person. 

FOR INDONESIA EMPLOYEES ONLY 
 By accepting the Award(s),
you acknowledge that the Firm has provided you with Bahasa Indonesia translations of the Award Summary, Award Agreement and Signature Card, but that the original English versions of these documents control. 

Dengan menerima Putusan, Anda menyatakan bahwa Perusahaan telah memberikan Anda terjemahan Bahasa Indonesia dari Ikhtisar Putusan, Perjanjian Putusan dan
Perjanjian dengan Tanda Tangan, tapi versi asli dalam Bahasa Inggris dari dokumen-dokumen ini tetap mengendalikan. 
 FOR ITALY EMPLOYEES ONLY 

No person resident or located in Italy other than the original recipients of this document and any other document related to the Award(s) may rely on such
documents or their content. The offer of the Award(s) under the SIP (and the delivery of underlying Shares) is exempted from prospectus requirements under Italian securities legislation. 

Under Italian rules, Italian taxpayers generally must report in their annual tax return the value of any financial instruments held abroad at year-end (such as financial and real estate assets). Please consult your own advisors regarding the terms and conditions of this reporting obligation.

 

  
 -11- 

 FOR MONACO EMPLOYEES ONLY 

If you are a Monégasque national (or if otherwise applicable), by accepting your Award(s), you expressly renounce the jurisdiction of Monaco and notably
the application of articles 3.2° and 5bis of the Monégasque Procedural Civil Code in connection with any dispute relating to your Award(s). 
 If
you are a French national (or if otherwise applicable), by accepting your Award(s), you expressly renounce the jurisdiction of France and notably the application of articles 14 and 15 of the French Civil Code in connection with any dispute relating
to your Award(s). 
 FOR NEW ZEALAND EMPLOYEES ONLY 
 GS
Inc. is offering you awards under the SIP in reliance upon clause 8 of Schedule 1 of the Financial Markets Conduct Act 2013 (offers under employee share purchase schemes) (Exclusion). In accordance with the requirements of the Exclusion, the
following information has been made available to you: 

	1.	 GS Inc.’s most recent annual report on
http://www2.goldmansachs.com/our-firm/investors/financials/index.html. 

  

	2.	 The SIP documentation (which constitutes the current rules of the employee share purchase scheme for the
purposes of the Exclusion) on https://hcm.web.gs.com/newaward. 

  

	3.	 A copy of the Award Agreement on https://hcm.web.gs.com/newaward. 

 

	4.	 GS Inc.’s most recent published audited and unaudited financial statements on
http://www2.goldmansachs.com/our-firm/investors/financials/index.html. 

  

	5.	 A copy of the auditor’s report on the above financial statements (if any) at
http://www2.goldmansachs.com/our-firm/investors/financials/index.html. 

 You may request copies of the documents listed above free
of charge from Head of Securities Compliance – Goldman Sachs Australia Pty Ltd. 
 Warning 

The Award(s) constitute an offer of shares (although the Award may in limited circumstances be settled in cash or other property). The shares give you a stake
in the ownership of GS Inc. You may receive a return if dividends are paid. 
 If GS Inc. runs into financial difficulties and is wound up, you will be paid
only after all creditors have been paid. You may lose some or all of your investment. 
 New Zealand law normally requires people who offer financial
products to give information to investors before they invest. This information is designed to help investors to make an informed decision.

 The usual rules do not apply to this offer because it is made under an employee share purchase scheme. As a
result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment. 
 Ask questions,
read all documents carefully, and seek independent financial advice before committing yourself. 
 The shares are quoted on a stock exchange. GS Inc.
intends to quote these shares on the New York Stock Exchange (NYSE). This means you may be able to sell them on the NYSE if there are interested buyers. You may get less than you invested. The price will depend on the demand for the shares.

 For further information, including the form, dividend payments, vesting, delivery, and transfer restrictions of the Award, please refer to the
information provided in the above legend. 
 FOR POLAND EMPLOYEES ONLY 

The Award(s) are offered to you by GS Inc. in accordance with the terms of the SIP which are summarized in the Award Summary. More information about GS Inc. is
available on www.gs.com. You are being offered Award(s) under the SIP in order to provide an additional incentive and to encourage employee share ownership and so increase your interest in the Firm’s success. Please refer to the section
entitled Shares Available for Awards in the SIP for information on the maximum number of GS Inc. shares that can be offered under the SIP. The obligation to publish a prospectus under the 2003/71 Prospectus Directive and Polish Act of
29 July 2005 on Public Offer does not apply to the offer because of Article 3(2)(b) of that directive and Article 3 sec. 1 of that act. 
 The Goldman
Sachs Group, Inc. („GS Inc.”) przyznaje Państwu Premię (Premie) zgodnie z warunkami Motywacyjnego Programu Akcji Pracowniczych opisanymi w Ogólnych Warunkach Przyznania Premii. Więcej informacji na temat GS Inc.
można uzyskać na stronie www.gs.com. Oferowana Państwu na podstawie Motywacyjnego Programu Akcji Pracowniczych Premia ma stanowić dodatkową motywację i rozwijać akcjonariat pracowniczy a w konsekwencji
zwiększyć Państwa zaangażowanie w sukces Firmy. Prosimy zapoznać się z działem zatytułowanym Akcje dostępne w ramach Premii w Motywacyjnym Programie Akcji Pracowniczych, w celu uzyskania informacji na
temat maksymalnej liczby akcji GS Inc. oferowanych na podstawie Motywacyjnego Programu Akcji Pracowniczych. Obowiązek publikowania prospektu wynikający z Dyrektywy w Sprawie Prospektu Emisyjnego 2003/71 oraz Ustawy z dnia 29 lipca 2005 r.
o Ofercie Publicznej nie ma zastosowania do niniejszej oferty, ze względu na brzmienie art. 3 ust. 2 lit. (b) wskazanej powyżej dyrektywy oraz art. 3 ust. 1 powyższej Ustawy.

 

  
 -12- 

 FOR RUSSIA EMPLOYEES ONLY 

None of the information contained in the documents referred to in paragraph 7 of this Signature Card or in this Signature Card constitutes an advertisement of
the Award(s) in Russia and must not be passed on to third parties or otherwise be made publicly available in Russia. The Award(s) have not been and will not be registered in Russia and are not intended for “placement” or “public
circulation” in Russia. 
 FOR SAUDI ARABIA EMPLOYEES ONLY 

The Award(s) are offered to you on behalf of Goldman Sachs Saudi Arabia, Commercial Registration Number 1010256672, 25th Floor, Kingdom Tower, Post Office Box 52969, Riyadh 11573, Saudi Arabia. The SIP documents may not be distributed in the Kingdom except to such persons as are permitted under the Offers of
Securities Regulations issued by the Capital Market Authority. The Capital Market Authority does not make any representation as to the accuracy or completeness of the SIP documents, and expressly disclaims any liability whatsoever for any loss
arising from, or incurred in reliance upon, any part of the SIP documents. Prospective purchasers of the securities offered hereby should conduct their own due diligence on the accuracy of the information relating to the securities. If you do not
understand the contents of the SIP documents you should consult an authorized financial adviser. 
 FOR SINGAPORE EMPLOYEES ONLY 

The Shares or the Award(s) may not be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or
indirectly, to persons in Singapore other than pursuant to, and in accordance with the conditions of, an exemption under any provision of Subdivision (4) of Division 1 of Part XIII of the Securities and Futures Act, Chapter 289 of
Singapore. 
 The Award(s) are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018)
and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on
Investment Products). 
 FOR SPAIN EMPLOYEES ONLY 

Please note that the offer of an Award under the SIP does not constitute a public offer in Spain, and therefore it is not subject to registration with the
Spanish authorities. The Award(s) are offered to you by GS Inc. in accordance with the terms and conditions set forth in the SIP and the Award Agreement(s). The grantees may be subject to certain reporting obligations for the acquisition or disposal
of Shares under the SIP, the opening

 
of cash or brokerage bank accounts abroad and the transfer or receipt of funds. Please consult your own advisors regarding these and other legal or tax obligations that may be applicable. 

FOR TURKEY EMPLOYEES ONLY 
 This offer is not a public
offering in terms of the Turkish Capital Markets legislation and the information provided herein cannot be construed as a public offering. The grant of the Award(s) should not be construed as a public offering or a private placement and is made to
you as an employee of the Firm. You are not obligated to accept your Award(s). Your decision to accept or reject the Award(s) is entirely up to you and will have no impact on your employment or your career, either positive or negative. The grant of
your Award(s) does not change or supplement the terms of your employment in any way. The plan documents do not constitute an employee handbook or an employment contract between you and the Firm. 

The information set forth in the plan documents is solely for informative reasons and the Firm is not hereby giving you nor purports to be giving you
investment or other financial advice. The Firm reserves the right to suspend, change, amend or supplement the terms of the plan documents, in whole or in part, for any reason at any time. If you are in doubt about the merits of the plan documents,
you should contact your financial advisor. 
  

			
	Signature:	 	  

		
	Print Name:	 	  

 FOR UK EMPLOYEES ONLY 

This document does not have regard to the specific investment objectives, financial situation and particular needs of any specific person who may receive it.
Recipients should seek their own financial advice. 
 The Award(s) are subject to the terms and conditions set forth in the SIP and the Award Agreement(s).
The price of shares and the income from such shares (if any) can fluctuate and may be affected by changes in the exchange rate for U.S. Dollars. Past performance will not necessarily be repeated. Levels and bases of taxation may change from time to
time. Investors should consult their own tax advisors in order to understand tax consequences. GS Inc. has (and its associates may have) a material interest in the shares and the investments that are the subject of this document. 

 

	
	Date:
                                         
                                   
	
	Employee ID #:
                                         
                 

 
 

  
 -13-

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