Document:

EX-10.15

 Exhibit 10.15 

TERMS AND CONDITIONS GOVERNING DIRECTOR RESTRICTED STOCK UNITS 2016/2020 IN SPOTIFY TECHNOLOGY S.A. 

 

	1.	RESTRICTED STOCK UNIT ISSUER AND RECIPIENT 

  

	1.1	Spotify Technology S.A., a Luxembourg société anonyme, with registered offices at 42-44, avenue de la Gare,
L-1610 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B 123.052 (the “Company”). 

 

	1.2	Selected members of the Company’s board of directors (the “Board”) in accordance with an individual notice of grant (the “Directors”) (the “Notice”).

  

	2.	BACKGROUND 

  

	2.1	At the annual meeting of the Company’s shareholders held on April 21, 2016, the Company’s shareholders voted in favor of a resolution to approve a remuneration plan in the form of cash bonuses,
warrants, restricted stock units or any other form to the members of the Board. In this context, the Board has decided to implement such resolution by granting Restricted Stock Units (as defined below) to the Directors in accordance with these Terms
and Conditions.     

  

	2.2	Neither the granting of a Restricted Stock Unit under this director restricted stock unit program 2016/2020 (the “Director Restricted Stock Unit Program”) nor a Director’s appointment
as director of the Company shall give the Director any right or expectation to be granted additional Restricted Stock Units at any time. 

  

	3.	RESTRICTED STOCK UNIT 

  

	 	Subject to the terms and conditions set out herein, the Director is entitled to delivery of one share in the Company (a “Share”) per restricted stock unit (a “Restricted Stock Unit”).

  

	4.	IMPLEMENTATION AND GRANT 

  

	 	The Director Restricted Stock Unit Program shall be effective as per September 30, 2016 (the “Date of Grant”). 

 

	5.	VESTING 

  

	5.1	Vesting general 

  

	5.1.1	Except as set forth in clause 7.1 below, vesting of the Director’s granted Restricted Stock Units shall occur on the dates set out in the Notice (each, a “Vesting Date”), subject to the
Director’s continued assignment with the Company. 

  

	5.1.2	Notwithstanding the aforesaid, the Board shall be entitled, in its sole discretion, to grant Restricted Stock Units that are subject to a different vesting schedule. 

 
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	5.2	Termination of assignment 

  

	5.2.1	If (i) the Director resigns for any reason, including by reason of Director retiring pursuant to the terms of his/her assignment or regulatory requirements or (ii) the Company’s shareholders terminate the
Director’s assignment with the Company for any reason (including, for the avoidance of doubt, as a result of the decision to not re-elect the Director as a member of the Board), all unvested Restricted
Stock Units shall cease vesting as of the date of termination of the Director’s assignment in accordance with clause 5.2.2 and shall immediately lapse. 

  

	5.2.2	If the Director resigns, termination of his/her assignment for purposes of the Restricted Stock Units shall be deemed to occur immediately on the Company’s receipt of Director’s written notice of resignation.
If the Company’s shareholders terminate the Director’s assignment with the Company (including, for the avoidance of doubt, as a result of the decision to not re-elect the Director as a member of the
Board), termination of his/her assignment for purposes of the Restricted Stock Units shall be deemed to occur immediately after the resolution to not re-elect or to discharge, as applicable, the Director is
adopted at a general meeting of shareholders. If the Director retires pursuant to the terms of his/her assignment or regulatory requirements, termination of his/her assignment for purposes of the Restricted Stock Units shall be deemed to occur
immediately after the end of the last day of his/her assignment. Notwithstanding the foregoing in this clause 5.2.2 or in clause 5.2.1, the Board shall be entitled, in its sole discretion, to resolve that termination of the Director’s
assignment shall be deemed to occur at a later point in time. 

  

	5.2.3	If a Director ceases to serve as a member of the Board, but is appointed as director of any company controlled by the Company (the “Group”), such change will not be deemed a termination of the assignment for
purposes of his/her Restricted Stock Units, provided that there is no other interruption or termination between the termination of assignment as Director and the provision of such services, unless the Board, in its sole discretion, determines that
the entity to which the Director transfers is not a qualified affiliate of the Group. 

  

	6.	SETTLEMENT 

  

	 	Settlement will occur through an electronic platform and with no paper documentation to be executed by the Director. To this effect, the Director will receive an individual username and an individual password from the
Company, giving her/him access to a personal account on the electronic platform. Once the Director will have logged-in and accepted the terms and conditions of the Director Restricted Stock Unit Program
applicable to her/him, she/he will have the possibility to upload money on the electronic platform (the “Funds”). Provided that the Director had sufficient Funds available to pay an amount equal to the par value per Share of the
number of Shares underlying the Restricted Stock Units, on or as soon as reasonably practicable (but no later than 30 days) following any Vesting Date, the Company shall issue the number of Shares subject to the Restricted Stock Units that become
vested in the name of the Director (or if deceased, the Director’s legal representative), which will be issued as fully paid and nonassessable Shares (a “Settlement Date”). If the Director does not have sufficient Funds
on the electronic platform to pay the applicable par value within 30 days of any Vesting Date, then such Restricted Stock Units may, as determined by the Board in its sole discretion, be cancelled with respect to those Shares that would otherwise
have become issuable therefor. 

 
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	7.	AMENDMENT OF THE RESTRICTED STOCK UNITS; ADJUSTMENT 

  

	7.1	Change in Control 

  

	7.1.1	Notwithstanding clause 5, if there is a Change in Control, all unvested Restricted Stock Units shall, contingent upon closing of such Change in Control actually taking place and subject to the Director’s continued
assignment as director of the Company immediately prior to closing of such Change in Control (“Closing”), vest immediately prior to the Closing provided, however, that the Director shall have delivered to the Company payment in cash
in a form acceptable to the Company in an amount equal to the par value per Share of the number of Shares underlying the Restricted Stock Units that become vested immediately prior to Closing and all other documentation for the issuance of Shares
reasonably required by the Board. If such cash payment is not made and such documentation is not delivered by the Director within a reasonable time prior to Closing in accordance with the Board’s instructions then such Restricted Stock Units
may, as determined by the Board in its sole discretion, be cancelled with respect to those Shares that would otherwise have become issuable therefor. If no Closing takes place Shares underlying Restricted Stock Units will not be issued, any cash
payment made by the Director will be returned and these terms and conditions will remain unaffected. 

  

	7.1.2	If permitted by applicable law, the Board may, instead of allowing the Director to acquire Shares in accordance with clause 7.1.1, in its sole discretion, cause the cancellation of any vested Restricted Stock Unit
outstanding immediately prior to Closing, in whole or in part, in exchange for a payment to the Director, in such form as determined by the Board, provided that the Board shall ensure that the tax treatment and economic returns of the Director is
not affected adversely compared to the procedure described in clause 7.1.1 and may provide that any such payment to the Director shall be subject to the same conditions as are imposed on holders of the Shares in the Change in Control (e.g., an earn
out or escrow) as well as to applicable tax withholdings. 

  

	7.1.2.1	“Change in Control” shall mean and include each of the following: 

 (i) a
transaction or series of transactions (other than an offering of Shares to the general public through a registration statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of
“persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended from time to time (the “Exchange Act”)) directly or indirectly acquires beneficial ownership (within the
meaning of Rules 13d-3 and 13d-5 under the Exchange Act) of securities of the Company possessing more than 50 % of the total combined voting power of the
Company’s securities outstanding immediately after such acquisition; provided, however, that the following acquisitions shall not constitute a Change in Control: (w) any acquisition by the Company; (x) any acquisition by an employee
benefit plan maintained by the Company, (y) any acquisition which complies with clauses 7.1.2.1(iii)(I)-(III); or (z) in respect of an Restricted Stock Unit held by a particular Director, any acquisition by the Director or any group of
persons including the Director (or any entity controlled by the Director or any group of persons including the Director); 
 (ii) the
Incumbent Directors cease for any reason to constitute a majority of the Board; 
 (iii) the consummation by the Company (whether directly
involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination, (y) a sale or other disposition of all or substantially all of the
Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets or stock of another entity, in each case other than a transaction: (I) which results in the Company’s voting securities
outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly,
the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the 

 
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business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor
Entity’s outstanding voting securities immediately after the transaction, and (II) after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided,
however, that no person or group shall be treated for purposes of this clause (II) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the
consummation of the transaction; and (III) after which at least a majority of the members of the board of directors (or the analogous governing body) of the Successor Entity were Board members at the time of the Board’s approval of the
execution of the initial agreement providing for such transaction; or 
 (iv) the date which is 10 business days prior to the completion of a
liquidation or dissolution of the Company. 
  

	7.1.2.2	“Incumbent Directors’ shall mean for any period of 12 consecutive months, individuals who, at the beginning of such period, constitute the Board together with any new director(s) (other than a
director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in clause 7.1.2.1, (i) or 7.1.2.1, (iii)) whose election or nomination for election to the Board was approved by a vote of at
least a majority (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director without objection to such nomination) of the directors then still in office who either were
directors at the beginning of the 12-month period or whose election or nomination for election was previously so approved. No individual initially elected or nominated as a director of the Company as a result
of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be an Incumbent Director. 

  

	7.2	Distribution, reclassification etc. 

 If any share split, reverse share split,
recapitalization, combination, reclassification or other distribution of the Company’s Shares without the receipt of consideration by the Company occurs, the Board will adjust the number and class of Shares that may be delivered under each
outstanding Restricted Stock Unit and in a manner that complies with all applicable laws to prevent diminution or enlargement of the benefits or potential benefits intended to be made available with respect to any grant of any Restricted Stock Unit.

  

	7.3	Share for share exchange etc. 

  

	7.3.1	If the Company’s shareholders perform a share for share exchange for the purpose of creating a new holding company to the Company, or if a new company otherwise replaces the Company as the holding company in the
Group, and such transaction is not a Change in Control, the Board shall use reasonable efforts to either: (a) ensure that the Director receives substantially equivalent rights with respect to securities in the new holding company as the
Director had in the Company immediately before such transaction, provided that the Director in writing waives any rights under the Restricted Stock Units, which shall lapse and be cancelled as a consequence thereof; or (b) amend these terms and
conditions to the effect that the new holding company assumes the Company’s rights and obligations hereunder and that the Director’s vested and unsettled Restricted Stock Units and unvested Restricted Stock Units shall relate to shares in
such new company. 

 
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	7.3.2	In the event of a transaction as described in clause 7.3.1, the Director shall always be obliged upon the Board’s request to, in case of (a) in clause 7.3.1, waive any rights under the Restricted Stock Units
provided that the Director receives substantially equivalent rights in the new holding company as the Director had in the Company immediately before such transaction or, in case of (b) in clause 7.3.1, approve any such amendment to these terms
and conditions. No waiver shall be requested or required, and the Company may act unilaterally in accordance with this clause 7.3, provided that the Restricted Stock Units preserves the material terms and conditions of the underlying rights,
including the vesting schedule and the intrinsic value of the Restricted Stock Unit as of immediately prior to such transaction. 

  

	7.3.3	If the Company effects a change of the classes of outstanding Company securities, the Board shall, appropriately and proportionately adjust the class of securities subject to the Restricted Stock Units. The Board will
make such adjustments, and its determination will be final, binding and conclusive. 

  

	8.	CANCELLATION OF RESTRICTED STOCK UNITS IN CASE OF A MATERIAL BREACH 

  

	8.1	If the Director commits a material breach of any of its obligations under these terms and conditions and the breach has not been rectified within 15 calendar days from the date the Director receives a written
demand for rectification, the Company shall be entitled to cancel the Director’s unvested Restricted Stock Units, which as a consequence thereof shall lapse. 

 

	8.2	A material breach for purposes of clause 8 and 9 shall mean a breach by the Director of the provisions in clauses 7.3, 10, or 11 or any other breach by the Director of these terms and conditions that is
reasonably likely to have a material adverse effect on the Company. 

  

	9.	LIQUIDATED DAMAGES IN CASE OF A MATERIAL BREACH 

  

	9.1	If the Director commits a material breach in accordance with clause 8.2 and the breach has not been rectified within 15 calendar days from the date the Director receives a written demand for rectification, the
Director shall upon written request by the Company pay liquidated damages in an amount corresponding to 50 percent of the aggregate then-current fair market value of the Shares represented by the vested portion of the Restricted Stock Units.
The Company shall not be entitled to demand liquidated damages if the Company has cancelled the Director’s Restricted Stock Units pursuant to clause 8.1. 

  

	9.2	If the Director commits a material breach of any of its obligations under these terms and conditions, the Company is entitled, in addition to any liquidated damages in accordance with the provisions of clause
9.1, to claim damages in an amount corresponding to the difference between the actual damage suffered and the liquidated damages (if any), if such damage exceeds the amount of the liquidated damages (if any). 

 

	9.3	The payment by the Director of any liquidated damages shall not affect the Company’s right to pursue other remedies that the Company may have against the Director as a result of a breach. 

 

	10.	APPOINTMENT OF AGENT ETC. 

  

	10.1	 The Director hereby irrevocably authorises the Board, with full power of substitution, to endorse such
documents on behalf of the Director and to take any other action reasonably necessary to effect any of the Director’s obligations under these terms and conditions, 

 
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including but not limited to, execution of a transfer of Shares owned by the Director. The Board shall hold any payment received for the benefit of the Director under this clause on behalf of the
Director and separated from any other funds. A withdrawal of the authorisation as provided for in this clause 10 constitutes a material breach of these terms and conditions for purposes of clause 8 and 9. 

 

	10.2	The Director hereby undertakes to sign, execute and deliver such documents (including without limitation any subscription form), and to take any other actions, as reasonably required by the Board in order to
ensure compliance with or observation of the Director’s obligations under these terms and conditions. 

  

	11.	PAYMENT OF CERTAIN TAXES 

  

	11.1	The Company will perform withholding of taxes in relation to the Restricted Stock Units and the Shares delivered upon settlement if and to the extent required by law or decisions by governmental authorities or if
the Board in its reasonable opinion considers it appropriate for the Company to perform such withholding of taxes. For the avoidance of doubt, this clause 11.1 shall not affect the Director’s liabilities and undertakings pursuant to clause 11.2
and 11.3. 

  

	11.2	The Director is liable for and undertakes to pay any taxes (including but not limited to income taxes, capital taxes, employment taxes, self-employment taxes, social security contributions as well as any tax
penalties thereon) for which he/she may be liable in relation to the Restricted Stock Units and any Shares issued at settlement (“Director’s Tax Liability”). For the avoidance of doubt, withholding tax (whether preliminary or
deducted at source) on employment income, dividends and capital gains will always be considered as Director’s Tax Liability. 

  

	11.3	As a condition to the issuance of Shares in respect of the vested Restricted Stock Units, the Director shall make such arrangements as the Board may require for the satisfaction of any Director’s Tax
Liability that may arise in relation to the Restricted Stock Units. The Director shall also make such arrangements as the Board may require for the satisfaction of any Director’s Tax Liability that may arise in relation to Shares issued at
settlement. For the avoidance of doubt, the Director shall upon the Company’s request at issuance pay any Directors’ Tax Liability. Without limiting the foregoing, the Company may, without the Director’s additional consent, satisfy
Director’s Tax Liability and payment referred to in clause 6 in respect of the vested Restricted Stock Units via a “cashless” withholding program with terms set forth by the Company in its discretion. 

 

	11.4	The Company assumes no responsibility for any Director’s Tax Liability. The Director represents that the Director is not relying on the Company for any tax advice and explicitly agrees not to demand any
compensation from the Company to cover any Director’s Tax Liability. 

  

	12.	DATA PROTECTION 

  

	12.1	 For the purposes of implementing, managing and administering the Director Restricted Stock Unit Program,
and for the Director to participate in the Director Restricted Stock Unit Program, it is necessary for the Company acting as data controller, and other companies in the Group to collect, use, disclose, transfer and otherwise process personal data
regarding the Director, including the Director’s name, home address and telephone number, date of birth, personal identification number, social security number, salary, nationality, job title, any Shares or directorships held in the Company or
any company in 

 
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the Group, details of all Restricted Stock Units or other entitlements to Shares awarded, cancelled, exercised, vested, unvested or outstanding in the Director’s favour (the
“Data”). Any such processing will be carried out in accordance with the Company’s legitimate interest in administering the Director Restricted Stock Unit Program only to the extent permitted by and in full compliance with any
applicable data protection laws and regulations. The Director’s Data will be retained by the Company for so long as the Director holds Restricted Stock Units and/or Shares in the Company, and thereafter only for so long as required by
applicable law. 

  

	12.2	The Director further understands that the Company and/or any company in the Group will transfer the Data among themselves, as necessary for the purposes of implementation, management and administration of the
Director’s participation in the Director Restricted Stock Unit Program, and that the Company and/or any company in the Group may each further transfer Data to any third party service provider acting as data processors and assisting the Company
in the implementation, management and administration of the Director Restricted Stock Unit Program (the “Data Recipients”). The Company shall ensure that any Data Recipient shall be contractually required to ensure
appropriate confidentiality and security as well as compliance with applicable data protection laws and regulations. 

  

	12.3	The Director understands that these Data Recipients may be located in the Director’s country of residence or elsewhere. The Director acknowledges that such Data Recipients will be receiving, possessing,
using, retaining, and transferring Data in electronic or other form, for the purposes of implementing, managing and administering the Director’s participation in the Director Restricted Stock Unit Program, including any transfer of such Data to
any third party service provider acting as data processors, as may be required for the administration of the Director Restricted Stock Unit Program and/or the subsequent holding of Shares on the Director’s behalf, to a broker or third party
with whom the Shares settled following vesting of the Restricted Stock Units may be deposited. Where the transfer is to be to a destination outside the European Economic Area (the “EEA”), the Company shall take reasonable steps to ensure
that the Director’s personal data is legally transferred and continues to be adequately protected and securely held. This may for example include that the Company ensures that the Data Recipients located outside of the EEA (i) hold
certifications that are sufficient to receive and process personal data about EU individuals, e.g. the EU-US Privacy Shield program, or (ii) are bound by approved contractual mechanisms for transfers of
personal data outside of the EEA, e.g. standard contractual clauses. 

  

	12.4	Subject to the nature of the Data and the Company’s legal basis for processing that Data, the Director may, at any time, contact the Company at
                 to make any of the following requests in respect of the Data processed by the Company: 

a. request access to the Data;     

b. request that Data which the Director deems to be incorrect is rectified; 

c. request for the Data to be erased by the Company; 

d. request for the Company to restrict processing of his or her Data in certain circumstances including where the accuracy of the Data is
contested, the processing of the Data is unlawful, where the Company no longer needs the Data or where the Director objects to the Company processing his or her Data; 

 
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 e. request for the Company to port the Data to another party; 

f. object to the Company processing the Data; or 

g. request to not be subject to a decision taken by the Company which is based solely on automated processing including profiling where that
decision has a legal impact or similarly significant impact on the Director. 
  

	12.5	The Director understands that, should the Director have any concerns regarding the Company’s processing of the Director’s Data, the Director may contact the Company or ledge a complaint with the data
protection authority in the country where the Director is employed. 

  

	13.	MISCELLANEOUS 

  

	13.1	The Restricted Stock Units may not be transferred, otherwise disposed, pledged, borrowed against or used as any form of security. 

 

	13.2	The Company shall be entitled to amend these terms and conditions to the extent required by legislation, court decisions, decisions by public authorities or agreements, or if such amendments, in the reasonable
judgment of the Company, are otherwise necessary for practical reasons, and provided in all of the aforementioned cases that the Director’s rights are in no material respects adversely affected. If the Director’s rights would be materially
adversely affected, the Director’s written consent shall be necessary for such amendment. 

  

	13.3	Nothing in these terms and conditions or in any right or Restricted Stock Unit granted under these terms and conditions shall confer upon the Director the right to continue his/her assignment for any period of
specific duration or interfere with or otherwise restrict in any way the rights of the Company or of the Director, which rights are hereby expressly reserved by each, to terminate the Director’s assignment at any time. 

 

	13.4	The Director has no right to compensation or damages for any loss in respect of the Restricted Stock Unit where such loss arises (or is claimed to arise), in whole or in part, from the termination of the
Director’s assignment; or notice to terminate the assignment given by or to the Director. 

  

	13.5	The Director undertakes not to use or disclose the contents of these terms and conditions, or any financial information, trade secrets, customer lists or other information which it may from time to time receive
or obtain (orally or in writing or in disc or electronic form) as a result of entering into or performing its obligations pursuant to these terms and conditions or otherwise, relating to the Group unless: (i) required to do so by law or
pursuant to any order of court or other competent authority or tribunal; or (ii) such disclosure has been consented to by the Company, provided, however, that the Director may disclose the terms and conditions of his or her Restricted Stock
Units to the Director’s spouse, personal attorney and/or tax preparer. If a Director becomes required, in circumstances contemplated by (i) to disclose any information, the disclosing Director shall use its best efforts to consult with the
Company prior to any such disclosure. 

  

	13.6	The Restricted Stock Units (and Shares issued on settlement of a Restricted Stock Unit) will be subject to recoupment in accordance with any clawback policy that the Group adopts pursuant to the listing standards
of any national, foreign or international securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law, or
as the Board otherwise deems necessary or appropriate. The Board may include such other clawback, recovery or recoupment provisions in the Notice of Grant or other written agreement with the Director, as the Board determines necessary or
appropriate. 

 
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	13.7	Shares will not be issued under this Director Restricted Stock Unit Program unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without
limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities
may then be traded. In addition to the terms and conditions provided herein, the Board may require that a Director make such reasonable covenants, agreements and representations as the Board, in its sole discretion, deems advisable in order to
comply with applicable law. 

  

	14.	TERM AND TERMINATION 

 These terms and conditions shall enter into force on the Date of
Grant and remain in force until close of business in Sweden on 31 December 2020. The parties shall, however, after such date continue to be bound by the provisions set out in clause 13.5 and 15. 

 

	15.	GOVERNING LAW AND JURISDICTION 

  

	15.1	These terms and conditions shall be governed by and construed in accordance with the substantive law of Sweden (excluding its rules on conflict of laws). 

 

	15.2	The Company and the Director undertake to use their best efforts to resolve any disagreements or disputes regarding these terms and conditions between them or any two or more of them through discussions and
mutual agreement. 

  

	15.3	Any dispute, controversy or claim arising out of or in connection with these terms and conditions, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the
Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce. Unless otherwise agreed between the parties to such arbitration, the Arbitral Tribunal shall be composed of a sole arbitrator, the seat of arbitration shall be
Stockholm and the language to be used in the arbitral proceedings shall be English. 

  

	15.4	The arbitral proceedings and all information and documentation related thereto shall be confidential, unless a disclosure is required under any applicable law, relevant stock exchange regulations or order of
court, other tribunal or competition authority or as otherwise agreed between the Company and the Director in writing.EX-10.16

 Exhibit 10.16 

THE ECHO NEST CORPORATION 

2007 STOCK OPTION AND GRANT PLAN 
  

	SECTION 1.	GENERAL PURPOSE OF THE PLAN; DEFINITIONS  

 The name of the plan is The Echo Nest
Corporation 2007 Stock Option and Grant Plan (the “Plan”). The purpose of the Plan is to encourage and enable the officers, employees, directors and other key persons (including consultants and prospective employees) of the Echo
Nest Corporation (including any successor entity, the “Company”) and its Subsidiaries upon whose judgment, initiative and efforts the Company largely depends for the successful conduct of its business to acquire a proprietary
interest in the Company. It is anticipated that providing such persons with a direct stake in the Company’s welfare will assure a closer identification of their interests with those of the Company, thereby stimulating their efforts on the
Company’s behalf and strengthening their desire to remain with the Company. 
 The following terms shall be defined as set forth below:

 “Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder. 

“Affiliate” of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is
controlled by or is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and
policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Award” or
“Awards,” except where referring to a particular category of grant under the Plan, shall include Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted
Stock Awards or any combination of the foregoing. 
 “Bankruptcy” shall mean (i) the filing of a voluntary petition
under any bankruptcy or insolvency law, or a petition for the appointment of a receiver or the making of an assignment for the benefit of creditors, with respect to the Holder, or (ii) the Holder being subjected involuntarily to such a petition
or assignment or to an attachment or other legal or equitable interest with respect to the Holder’s assets, which involuntary petition or assignment or attachment is not discharged within 60 days after its date, and (iii) the Holder being
subject to a transfer of its Issued Shares by operation of law (including by divorce, even if not insolvent), except by reason of death. 

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

“Cause” means dismissal as a result of (i) the commission of any act by a grantee constituting financial dishonesty
against the Company or its Subsidiaries (which act would be 

  
  

 
chargeable as a crime under applicable law); (ii) a grantee’s engaging in any other act of dishonesty, fraud, intentional misrepresentation, moral turpitude, illegality or harassment which,
as determined in good faith by the Board, would: (A) materially adversely affect the business or the reputation of the Company or any of its Subsidiaries with their respective current or prospective customers, suppliers, lenders and/or other
third parties with whom such entity does or might do business; or (B) expose the Company or any of its Subsidiaries to a risk of civil or criminal legal damages, liabilities or penalties; (iii) the repeated failure by a grantee to follow
the directives of the chief executive officer of the Company or any of its Subsidiaries or Board, or (iv) any material misconduct, violation of the Company’s or Subsidiaries’ policies, or willful and deliberate non-performance of duty by the grantee in connection with the business affairs of the Company or its Subsidiaries. 

“Code” means the Internal Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and
interpretations. 
 “Committee” means the Committee of the Board referred to in Section 2. 

“Effective Date” means the date on which the Plan is approved by stockholders as set forth at the end of this Plan. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 

“Fair Market Value” of the Stock on any given date means the fair market value of the Stock determined in good faith by the
Committee. 
 “Holder” means, with respect to an Award or any Issued Shares, the Person holding such Award or Issued
Shares, including the initial recipient of the Award or any Permitted Transferee. 
 “Incentive Stock Option” means any
Stock Option designated and qualified as an “incentive stock option” as defined in Section 422 of the Code. 

“Issued Shares” means, collectively, all outstanding Shares issued pursuant to Restricted Stock Awards, all outstanding
Shares issued pursuant to Unrestricted Stock Awards, and all Option Shares. 

“Non-Qualified Stock Option” means any Stock Option that is not an Incentive Stock
Option. 
 “Option Shares” means outstanding shares of Stock that were issued to a Holder upon the exercise of a Stock
Option. 
 “Permitted Transferees” shall mean any of the following to whom a Holder may transfer Issued Shares hereunder
(as set forth in Section 9(a)(ii)(A)): the Holder’s spouse, children (natural or adopted), stepchildren, brothers, sisters, nephews, nieces, grandchildren or a trust for their sole benefit of which the Holder is the settlor; provided,
however, that any such trust does not require or permit distribution of any Issued Shares during the term of this Agreement unless subject to its terms. Upon the death of the Holder, the term Permitted Transferees shall also include such
deceased Holder’s estate, executions, administrations, personal representations, heirs, legatees and distributees, as the case may be. 

  
  

2 

 “Person” shall mean any individual, corporation, partnership (limited or
general), limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 

“Option” or “Stock Option” means any option to purchase shares of Stock granted pursuant to Section 6.

 “Repurchase Event” means (i) a Termination Event, (ii) the Holder’s Bankruptcy, or (iii) the
consummation of a Sale Event. 
 “Restricted Stock Award” means Awards granted pursuant to Section 7 and
“Restricted Stock” means Shares granted pursuant to such Awards. 
 “Sale Event” means the consummation of
(i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or consolidation in
which the outstanding shares of Stock are converted into or exchanged for securities of the successor entity and the holders of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the
outstanding voting power of the successor entity immediately upon completion of such transaction, (iv) the sale of all or a majority of the Stock of the Company to an unrelated person or entity, or (v) any other transaction in which the
holders of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company or a successor entity immediately upon completion of the transaction. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder. 

“Shares” means shares of Stock. 

“Stock” means the Common Stock, par value $.01 per share, of the Company, subject to adjustments pursuant to Section 3.

 “Subsidiary” means any corporation or other entity (other than the Company) in which the Company has a controlling
interest, either directly or indirectly. 
 “Termination Event” means the termination of the Award recipient’s
employment or service relationship with the Company and its Subsidiaries for any reason whatsoever, regardless of the circumstances thereof, and including, without limitation, upon death, disability, retirement, discharge or resignation for any
reason, whether voluntarily or involuntarily. The following shall not constitute a Termination Event: (i) a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another
Subsidiary or (ii) an approved leave of absence for military service or sickness, or for any other purpose approved by the Committee, if the employee’s right to re-employment is guaranteed either by
a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee otherwise so provides in writing. 

  
  

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 “Unrestricted Stock Award” means any Award granted pursuant to
Section 8 and “Unrestricted Stock” means Shares granted pursuant to such Awards. 
  

	SECTION 2.	ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS  

(a) Administration of Plan. The Plan shall be administered by the Board, or at the discretion of the Board, by a committee of the
Board, comprised of not less than two Directors. All references herein to the Committee shall be deemed to refer to the group then responsible for administration of the Plan at the relevant time (i.e., either the Board of Directors or a committee or
committees of the Board, as applicable). 
 (b) Powers of Committee. The Committee shall have the power and authority to grant Awards
consistent with the terms of the Plan, including the power and authority: 
 (i) to select the individuals to whom Awards may from time to
time be granted; 
 (ii) to determine the time or times of grant, and the extent, if any, of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted Stock Awards or any combination of the foregoing, granted to any one or more grantees; 

(iii) to determine the number of shares of Stock to be covered by any Award; 

(iv) to determine and modify from time to time the terms and conditions, including restrictions, not inconsistent with the terms of the Plan,
of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve the form of written instruments evidencing the Awards; 

(v) to accelerate at any time the exercisability or vesting of all or any portion of any Award; 

(vi) to impose any limitations on Awards granted under the Plan, including limitations on transfers, repurchase provisions and the like and to
exercise repurchase rights or obligations; 
 (vii) subject to any restrictions applicable to Incentive Stock Options, to extend at any time
the period in which Stock Options may be exercised; and 
 (viii) at any time to adopt, alter and repeal such rules, guidelines and
practices for administration of the Plan and for its own acts and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including related written instruments); to make all determinations it deems
advisable for the administration of the Plan; to decide all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan. 

  
  

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 All decisions and interpretations of the Committee shall be binding on all persons,
including the Company and Plan grantees. 
 (c) Indemnification. Neither the Board nor the Committee, nor any member of either or any
delegatee thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members of the Board and the Committee (and any delegatee thereof) shall be entitled in
all cases to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law
and/or under any directors’ and officers’ liability insurance coverage which may be in effect from time to time. 
  

	SECTION 3.	STOCK ISSUABLE UNDER THE PLAN; CHANGES IN STOCK; SUBSTITUTION 

 (a) Stock
Issuable. The maximum number of Shares reserved and available for issuance under the Plan shall be 9877 Shares, subject to adjustment as provided in Section 3(b). For purposes of this limitation, the Shares underlying any Awards which are
forfeited, canceled, reacquired by the Company, satisfied without the issuance of Stock or otherwise terminated (other than by exercise) shall be added back to the Shares available for issuance under the Plan. Subject to such overall limitation,
Shares may be issued up to such maximum number pursuant to any type or types of Award. The Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company and held in its treasury. 

(b) Changes in Stock. Subject to Section 4 hereof, if, as a result of any reorganization, recapitalization, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding shares of Stock are increased or decreased or are exchanged for a different number or kind of shares or other securities of
the Company, or additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Stock or other securities, or, it as a
result of any merger, consolidation or sale of all or substantially all of the assets of the Company, the outstanding shares of Stock are converted into or exchanged for a different number or kind of securities of the Company or any successor entity
(or a parent or subsidiary thereof), the Committee shall make an appropriate or proportionate adjustment in (i) the maximum number of shares reserved for issuance under the Plan, (ii) the number and kind of shares or other securities
subject to any then outstanding Awards under the Plan, (iii) the repurchase price per share subject to each outstanding Award, if any, and (iv) the exercise price and/or exchange price for each share subject to any then outstanding Stock
Options under the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number of Stock Options) as to which such Stock Options remain exercisable. The adjustment by the Committee shall be final, binding and
conclusive. No fractional shares of Stock shall be issued under the Plan resulting from any such adjustment, but the Committee in its discretion may make a cash payment in lieu of fractional shares. 

  
  

5 

 The Committee may also adjust the number of shares subject to outstanding Awards and the
exercise price and the terms of outstanding Awards to take into consideration material changes in accounting practices or principles, extraordinary dividends, acquisitions or dispositions of stock or property or any other event if it is determined
by the Committee that such adjustment is appropriate to avoid distortion in the operation of the Plan, provided that no such adjustment shall be made in the case of an Incentive Stock Option, without the consent of the grantee, if it would
constitute a modification, extension or renewal of the Option within the meaning of Section 424(h) of the Code. 
 (c) Substitute
Awards. The Committee may grant Awards under the Plan in 
 substitution for stock and stock based awards held by employees, directors or other key
persons of another corporation in connection with a merger or consolidation of the employing corporation with the Company or a Subsidiary or the acquisition by the Company or a Subsidiary of property or stock of the employing corporation. The
Committee may direct that the substitute awards be granted on such terms and conditions as the Committee considers appropriate in the circumstances. Any substitute Awards granted under the Plan shall not count against the share limitation set forth
in Section 3(a). 
  

	SECTION 4.	TREATMENT UPON SALE EVENT OR OTHER EXTRAORDINARY TRANSACTION  

 (a)
Options. 
 (i) In the case of and subject to the consummation of a Sale Event, the Plan and all Options issued hereunder shall
terminate upon the effective time of any such Sale Event unless provision is made in connection with the Sale Event in the sole discretion of the parties thereto for the assumption or continuation of Options theretofore granted by the successor
entity, or the substitution of such Options with new Options of the successor entity or parent thereof, with appropriate adjustment as to the number and kind of shares and, if appropriate, the per share exercise prices, as such parties shall agree
(after taking into account any acceleration hereunder). 
 (ii) In the event of the termination of the Plan and all Options issued
hereunder, each Holder of Options shall be permitted, within a specified period of time prior to the consummation of the Sale Event as determined by the Committee, to exercise all such Options which are then exercisable or will become exercisable as
of the effective time of the Sale Event; provided, however, that the exercise of Options not exercisable prior to the Sale Event shall be subject to the consummation of the Sale Event. 

(iii) Notwithstanding anything to the contrary in Section 4(a)(i), in the event of a Sale Event pursuant to which holders of the Stock of
the Company will receive upon consummation thereof a cash payment for each share surrendered in the Sale Event, the Company shall have the right, but not the obligation, to make or provide for a cash payment to the grantees holding vested Options in
exchange for the cancellation thereof, in an amount equal to the difference between (A) the value as determined by the Committee of the consideration payable per share of Stock pursuant to the Sale Event (the “Sale Price”) times the
number of shares of Stock subject to outstanding vested Options (to the extent then exercisable at prices not in excess of the Sale Price) and (B) the aggregate exercise price of all such outstanding vested Options. 

  
  

6 

 (b) Option Shares and Restricted Stock Awards. Unless otherwise provided in an Award
agreement, in the case of and subject to the consummation of a Sale Event, Option Shares and shares of Restricted Stock shall be subject to the repurchase right set forth in Section 9(c)(i) and 9(c)(ii), respectively. 

(c) Unrestricted Stock Awards. Unless otherwise provided in an Award agreement, any shares of Unrestricted Stock shall be treated in a
Sale Event the same as all other Shares then outstanding. 
  

	SECTION 5.	ELIGIBILITY 

 Grantees under the Plan will be such full or part-time officers and
other employees, directors and key persons (including consultants and prospective employees) of the Company and its Subsidiaries as are selected from time to time by the Committee in its sole discretion. 

 

	SECTION 6.	STOCK OPTIONS 

 (a) Nature of Stock Options. A Stock Option is an Award
entitling the recipient to acquire, at such exercise price as determined by the Committee, shares of Stock subject to such restrictions and conditions as the Committee may determine at the time of grant. Conditions may be based on continuing
employment (or other service relationship) and/or achievement of pre-established performance goals and objectives. The grant of a Stock Option is contingent on the grantee executing the Stock Option agreement.
The terms and conditions of each such agreement shall be determined by the Committee, and such terms and conditions may differ among individual Awards and grantees. 

Stock Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options may be
granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall be
deemed a Non-Qualified Stock Option. 
 No Incentive Stock Option shall be granted under the Plan
after the date which is ten (10) years from the date the Plan is approved by Board of Directors. 
 (b) Grants of Stock Options.
The Committee in its discretion may grant Stock Options to eligible directors, officers, employees and key persons of the Company or any Subsidiary. Stock Options granted under the Plan shall be subject to the following terms and conditions and
shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable. If the Committee so determines, Stock Options may be granted in lieu of cash compensation at the optionee’s
election, subject to such terms and conditions as the Committee may establish. 

  
  

7 

 (i) Exercise Price. The exercise price per share for the Stock covered by a Stock
Option granted under the Plan shall be determined by the Committee at the time of grant but shall not be less than 100 percent of the Fair Market Value on the date of grant. If an employee owns or is deemed to own (by reason of the attribution
rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent or subsidiary corporation and an Incentive Stock Option is granted to such employee, the option
price of an Incentive Stock Option shall be not less than 110 percent of the Fair Market Value on the grant date. 
 (ii) Option
Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more than 10 years after the date the Stock Option is granted. If an employee owns or is deemed to own (by reason of the attribution
rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent or subsidiary corporation and an Incentive Stock Option is granted to such employee, the term of
such Stock Option shall be no more than five years from the date of grant. 
 (iii) Exercisability; Rights of a Stockholder. Stock
Options shall become exercisable at such time or times, whether or not in installments, as shall be determined by the Committee at or after the grant date. The Committee may at any time accelerate the exercisability of all or any portion of any
Stock Option. An optionee shall have the rights of a stockholder only as to shares acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. An optionee shall not be deemed to have acquired any such shares unless and
until a Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued and delivered the shares to the optionee, and the optionee’s name shall have been entered on the books of the Company as a stockholder.

 (iv) Method of Exercise. Stock Options may be exercised in whole or in part, by giving written notice of exercise to the Company,
specifying the number of shares to be purchased. Payment of the purchase price may be made by one or more of the following methods or as otherwise provided by the Committee: 

(A) In cash, by certified or bank check or other instrument acceptable to the Committee in U.S. funds payable to the order of
the Company in an amount equal to the purchase price of such Option Shares; 
 (B) By the optionee delivering to the Company
a promissory note if the Board has expressly authorized the loan of funds to the optionee for the purpose of enabling or assisting the optionee to effect the exercise of his or her Stock Option; provided that at least so much of the exercise price
as represents the par value of the Stock shall be paid other than with a promissory note if otherwise required by state law; or 

(C) If permitted by the Committee, through the delivery (or attestation to the ownership) of shares of Stock that have been
beneficially owned by the optionee for at least six months and are not then subject to restrictions under any Company plan. Such surrendered shares shall be valued at Fair Market Value on the exercise date. 

  
  

8 

 Payment instruments will be received subject to collection. No certificates for shares of
Stock so purchased will be issued to optionee until the Company has completed all steps required by law to be taken in connection with the issuance and sale of the shares, including, without limitation, (i) receipt of a representation from the
optionee at the time of exercise of the Option that the optionee is purchasing the shares for the optionee’s own account and not with a view to any sale or distribution thereof, (ii) the legending of any certificate representing the shares
to evidence the foregoing representations and restrictions, and (iii) obtaining from optionee payment or provision for all withholding taxes due as a result of the exercise of the Option. The delivery of certificates representing the shares of
Stock to be purchased pursuant to the exercise of a Stock Option will be contingent upon receipt from the optionee (or a purchaser acting in his stead in accordance with the provisions of the Stock Option) by the Company of the full purchase price
for such shares and the fulfillment of any other requirements contained in the Option Award agreement or applicable provisions of laws. In the event an optionee chooses to pay the purchase price by previously-owned shares of Stock through the
attestation method, the number of shares of Stock transferred to the optionee upon the exercise of the Stock Option shall be net of the number of shares attested to. 

(c) Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option” treatment under
Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the shares of Stock with respect to which Incentive Stock Options granted under this Plan and any other plan of the Company or its parent and
subsidiary corporations become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000. To the extent that any Stock Option exceeds this limit, it shall constitute a
Non-Qualified Stock Option. 
  

	SECTION 7.	RESTRICTED STOCK AWARDS 

 (a) Nature of Restricted Stock Awards. A
Restricted Stock Award is an Award pursuant to which the Company may, in its sole discretion, grant or sell, at such purchase price as determined by the Committee, in its sole discretion, shares of Stock subject to such restrictions and conditions
as the Committee may determine at the time of grant, which purchase price shall be payable in cash or other form of consideration acceptable to the Committee. Conditions may be based on continuing employment (or other service relationship) and/or
achievement of pre-established performance goals and objectives. The grant of a Restricted Stock Award is contingent on the grantee executing the Restricted Stock Award agreement. The terms and conditions of each such agreement shall be determined
by the Committee, and such terms and conditions may differ among individual Awards and grantees. 
 (b) Rights as a Stockholder. Upon
execution of a written instrument setting forth the Restricted Stock Award and payment of any applicable purchase price, a grantee shall have the rights of a stockholder with respect to the voting of the Restricted Stock, subject to such conditions
contained in the written instrument evidencing the Restricted Stock Award. 
 (c) Vesting of Restricted Stock. The Committee at the
time of grant shall specify the date or dates and/or the attainment of pre-established performance goals, objectives and other conditions on which Restricted Stock shall become vested, subject to such further
rights of the Company or its assigns as may be specified in the instrument evidencing the Restricted Stock Award. 

  
  

9 

 (d) Record Owner; Dividends. The Holder of Restricted Stock shall be considered the
record owners of and shall be entitled to vote the Shares of Restricted Stock if and to the extent such Shares are entitled to voting rights. The Holder shall be entitled to receive all dividends and any other distributions declared on the Shares;
provided, however, that the Company is under no duty to declare any such dividends or to make any such distribution. The Restricted Stock Award agreement may require or permit the immediate payment, waiver, deferral or investment of dividends
paid on the Restricted Stock. 
  

	SECTION 8.	UNRESTRICTED STOCK AWARDS  

 (a) Grant or Sale of Unrestricted Stock. The
Committee may, in its sole discretion, grant (or sell at par value or such higher purchase price determined by the Committee) an Unrestricted Stock Award to any grantee, pursuant to which such grantee may receive shares of Stock free of any vesting
restrictions under the Plan. Unrestricted Stock Awards may be granted or sold as described in the preceding sentence in respect of past services or other valid consideration, or in lieu of any cash compensation due to such individual. 

(b) Elections to Receive Unrestricted Stock In Lieu of Compensation. Upon the request of a grantee and with the consent of the
Committee, each such grantee may, pursuant to an advance written election delivered to the Company no later than the date specified by the Committee, receive a portion of the cash compensation otherwise due to such grantee in the form of shares of
Unrestricted Stock either currently or on a deferred basis. 
  

	SECTION 9.	TRANSFER RESTRICTIONS; COMPANY RIGHT OF FIRST REFUSAL; COMPANY REPURCHASE RIGHTS 

(a) Restrictions on Transfer. 

(i) Options. No Stock Option shall be transferable by the optionee otherwise than by will or by the laws of descent and distribution
and all Stock Options shall be exercisable, during the optionee’s lifetime, only by the optionee, or by the optionee’s legal representative or guardian in the event of the optionee’s incapacity. The Optionee may elect to designate a
beneficiary by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time by filing written notice of revocation or change with the Company, and any such beneficiary may exercise
the Optionee’s Stock Option in the event of the Optionee’s death to the extent provided herein. If the Optionee does not designate a beneficiary, or if the designated beneficiary predeceases the Optionee, the legal representative of the
Optionee may exercise this Stock Option in the event of the Optionee’s death to the extent provided herein. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide in the Award agreement regarding a given Option that
the optionee may transfer, without consideration for the transfer, his or her Non-Qualified Stock Options to members of his or her immediate family, to trusts for the benefit of such family members, or to
partnerships in which such family members are the only partners, provided that the transferee agrees in writing with the Company to be bound by all of the terms and conditions of this Plan and the applicable Option. 

  
  

10 

 (ii) Issued Shares. No Issued Shares shall be sold, assigned, transferred, pledged,
hypothecated, given away or in any other manner disposed of or encumbered, whether voluntarily or by operation of law, unless (i) such transfer is in compliance with the terms of the applicable Award, all applicable securities laws (including,
without limitation, the Act), and with the terms and conditions of this Section 9, (ii) such transfer does not cause the Company to become subject to the reporting requirements of the Exchange Act, and (iii) the transferee consents in
writing to be bound by the provisions of the Plan, including this Section 9. In connection with any proposed transfer, the Committee may require the transferor to provide at the transferor’s own expense an opinion of counsel to the
transferor, satisfactory to the Committee, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation, the Securities Act). Any attempted disposition of Issued Shares not in accordance with
the terms and conditions of this Section 9 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Issued Shares as a result of any such disposition, shall otherwise refuse to recognize any
such disposition and shall not in any way give effect to any such disposition of Issued Shares. Subject to the foregoing general provisions, and unless otherwise provided in the agreement with respect to a particular Award, Issued Shares may be
transferred pursuant to the following specific terms and conditions (provided that with respect to any transfer of Restricted Stock, all vesting and forfeiture provisions shall continue to apply only with respect to the original recipient): 

(A) Transfers to Permitted Transferees. The Holder may sell, assign, transfer or give away any or all of the Issued
Shares to Permitted Transferees; provided, however, that following such sale, assignment, or other transfer, such Issued Shares shall continue to be subject to the terms of this Plan (including this Section 9) and such Permitted
Transferee(s) shall, as a condition to any such transfer, deliver a written acknowledgment to that effect to the Company. 

(B) Transfers Upon Death. Upon the death of the Holder, any Issued Shares then held by the Holder at the time of such
death and any Issued Shares acquired thereafter by the Holder’s legal representative shall be subject to the provisions of this Plan, and the Holder’s estate, executors, administrators, personal representatives, heirs, legatees and
distributees shall be obligated to convey such Issued Shares to the Company or its assigns under the terms contemplated hereby. 
 (b)
Right of First Refusal. In the event that a Holder desires at any time to sell or otherwise transfer all or any part of such Holder’s Issued Shares, the Holder first shall give written notice to the Company of the Holder’s intention
to make such transfer. Such notice shall state the number of Issued Shares which the Holder proposes to sell (the “Offered Shares”), the price and the terms at which the proposed sale is to be made and the name and address of the proposed
transferee. At any time within 30 days after the receipt of such notice by the Company, the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered by the proposed transferee and
specified in the notice. The Company or its assigns shall exercise this right by mailing or delivering written notice to the Holder within the foregoing 30-day period. If the Company or its assigns elect to
exercise its 

  
  

11 

 
purchase rights under this Section 9(b), the closing for such purchase shall, in any event, take place within 45 days after the receipt by the Company of the initial notice from the Holder.
In the event that the Company or its assigns do not elect to exercise such purchase right, or in the event that the Company or its assigns do not pay the full purchase price within such 45-day period, the
Holder may, within 60 days thereafter, sell the Offered Shares to the proposed transferee and at the same price and on the same terms as specified in the Holder’s notice. Any Shares purchased by such proposed transferee shall no longer be
subject to the terms of the Plan. Any Shares not sold to the proposed transferee shall remain subject to the Plan. 
 (c) Company’s
Right of Repurchase. 
 (i) Right of Repurchase for Option Shares. The Company or its assigns shall have the right and option
upon a Repurchase Event to repurchase from a Holder of Option Shares some or all (as determined by the Company) of the Option Shares held or subsequently acquired upon exercise of a Stock Option by such Holder at the price per share specified below.
Such repurchase right may be exercised by the Company within the later of (A) six months following the date of such Repurchase Event or (B) seven months after the acquisition of such Option Shares upon exercise of a Stock Option (the
“Option Shares Repurchase Period”). The “Option Shares Repurchase Price” shall be equal to the Fair Market Value of the Option Shares, determined as of the date the Committee elects to exercise its repurchase rights in connection
with a Repurchase Event. 
 (ii) Right of Repurchase With Respect to Restricted Stock. Unless otherwise set forth in the agreement
entered into by the recipient and the Company in connection with a Restricted Stock Award, the Company or its assigns shall have the right and option upon a Repurchase Event to repurchase from a Holder of Issued Shares received pursuant to a
Restricted Stock Award some or all (as determined by the Company) of such Issued Shares at the price per share specified below. Such repurchase right may be exercised by the Company within six months following the date of such Repurchase Event (the “Non-Option Shares Repurchase Period”). The “Non-Option Shares Repurchase Price” shall be (i) in the case of Issued Shares which are vested as of the
date of the Repurchase Event, the Fair Market Value of such Issued Shares as of the date the Committee elects to exercise its repurchase rights in connection with a Repurchase Event and (ii) in the case of Issued Shares which have not vested as
of the date of the Repurchase Event, subject to adjustment as provided in Section 3(b), the original per share purchase price paid by the recipient. 

(iii) Procedure. Any repurchase right of the Company shall be exercised by the Company or its assigns by giving the Holder written
notice on or before the last day of the Option Shares Repurchase Period or Non-Option Shares Repurchase Period, as applicable, of its intention to exercise such repurchase right. Upon such notification, the
Holder shall promptly surrender to the Company, free and clear of any liens or encumbrances, any certificates representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the
Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates from the Holder, the Company or its assignee or assignees shall deliver to him, her or them a check for the Option Shares Repurchase
Price or the Non-Option Shares Repurchase Price, as applicable; provided, however, that the Company may pay the Option Shares Repurchase Price or Non-Option
Shares Repurchase Price, as applicable, by offsetting and canceling any indebtedness then owed by the Holder to the Company. 

  
  

12 

 (d) Drag Along Right. In the event the holders of a majority of the Company’s
equity securities then outstanding (the “Majority Shareholders”) determine to sell or otherwise dispose of all or substantially all of the assets of the Company or all or fifty percent (50%) or more of the capital stock of the Company, in
each case in a transaction constituting a change in control of the Company, to any non-Affiliate(s) of the Company or any of the Majority Shareholders, or to cause the Company to merge with or into or
consolidate with any non-Affiliate(s) of the Company or any of the Majority Shareholders (in each case, the “Buyer”) in a bona fide negotiated transaction (a “Sale”), a Holder of
Issued Shares, including any Permitted Transferees, shall be obligated to and shall upon the written request of the Majority Shareholders: (a) sell, transfer and deliver, or cause to be sold, transferred and delivered, to the Buyer, his or her
Issued Shares (including for this purpose all of such Holder’s or his or her Permitted Transferee’s Issued Shares that presently or as a result of any such transaction may be acquired upon the exercise of an Option (following the payment
of the exercise price therefor)) on substantially the same terms applicable to the Majority Shareholders (with appropriate adjustments to reflect the conversion of convertible securities, the redemption of redeemable securities and the exercise of
exercisable securities as well as the relative preferences and priorities of preferred stock); and (b) execute and deliver such instruments of conveyance and transfer and take such other action, including voting such Issued Shares in favor of
any Sale proposed by the Majority Shareholders and executing any purchase agreements, merger agreements, indemnity agreements, escrow agreements or related documents as the Majority Shareholders or the Buyer may reasonably require in order to carry
out the terms and provisions of this Section 9(d). 
 (e) Escrow Arrangement. 

(i) Escrow. In order to carry out the provisions of Sections 9(b), (c), and (d) of this Agreement more effectively, the Company
shall hold any Issued Shares in escrow together with separate stock powers executed by the Holder in blank for transfer, and any Permitted Transferee shall, as an additional condition to any transfer of Issued Shares, execute a like stock power as
to such Issued Shares. The Company shall not dispose of the Issued Shares except as otherwise provided in this Agreement. In the event of any repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Holder and any
Permitted Transferee, as the Holder’s and each such Permitted Transferee’s attorney-in-fact, to date and complete the stock powers necessary for the transfer
of the Issued Shares being purchased and to transfer such Issued Shares in accordance with the terms hereof. At such time as any Issued Shares are no longer subject to the Company’s repurchase, first refusal and drag along rights, the Company
shall, at the written request of the Holder, deliver to the Holder (or the relevant Permitted Transferee) a certificate representing such Issued Shares with the balance of the Issued Shares to be held in escrow pursuant to this Section 9(e).

 (ii) Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that a Holder, any
Permitted Transferees or any other Person is required to sell a Holder’s Issued Shares pursuant to the provisions of Sections 9(b), (c), or (d) hereof and in the further event that he or she refuses or for any reason fails to deliver to
the Company or its 

  
  

13 

 
designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power, the Company or such designated purchaser may deposit
the applicable purchase price for such Issued Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for such Holder, any Permitted Transferees or other Person,
to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by such Holder as provided above. Upon any such
deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the Person who was required to sell the Issued Shares to be sold pursuant to the provisions of Sections 9(b), (c), or (d), such Issued Shares shall at
such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, such Holder shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall
record such transfer in its stock transfer book or in any appropriate manner. 
 (f) Lockup Provision. A Holder agrees, if requested
by the Company and any underwriter engaged by the Company, not to sell or otherwise transfer or dispose of any Issued Shares (including, without limitation, pursuant to Rule 144 under the Securities Act) held by him or her for such period following
the effective date of any registration statement of the Company filed under the Securities Act as the Company or such underwriter shall specify reasonably and in good faith, not to exceed 180 days in the case of the Company’s initial public
offering or 90 days in the case of any other public offering. 
 (g) Adjustments for Changes in Capital Structure. If as a result of
any reorganization, recapitalization, reclassification, stock dividend, stock split reverse stock split or other similar change in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different
number or kind of shares of the Company’s stock, the restrictions contained in this Section 9 shall apply with equal force to additional and/or substitute securities, if any, received by Holder in exchange for, or by virtue of his or her
ownership of, Issued Shares. 
 (h) Termination. The terms and provisions of Section 9(b), Section 9(c) and
Section 9(d) shall terminate upon the closing of the Company’s initial public offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or a successor entity) of the same class as the
Issued Shares are registered under Section 12 of the Exchange Act and publicly traded on NASDAQ/NMS or any national security exchange. 
  

	SECTION 10.	TAX WITHHOLDING 

 (a) Payment by Grantee. Each grantee shall, no later than
the date as of which the value of an Award or of any Stock or other amounts received thereunder first becomes includable in the gross income of the grantee for Federal income tax purposes, pay to the Company, or make arrangements satisfactory to the
Committee regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld with respect to such income. The Company and its Subsidiaries shall, to the extent permitted by law, have the right to deduct any such
taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation to deliver stock certificates to any grantee is subject to and conditioned on any such tax obligations being satisfied by the grantee. 

  
  

14 

 (b) Payment in Stock. Subject to approval by the Committee, a grantee may elect to
have the minimum required tax withholding obligation satisfied, in whole or in part, by (i) authorizing the Company to withhold from shares of Stock to be issued pursuant to any Award a number of shares with an aggregate Fair Market Value (as
of the date the withholding is effected) that would satisfy the withholding amount due, or (ii) transferring to the Company shares of Stock owned by the grantee with an aggregate Fair Market Value (as of the date the withholding is effected)
that would satisfy the minimum withholding amount due. 
  

	SECTION 11.	AMENDMENTS AND TERMINATION 

 The Plan may only be amended with the consent of the
holders of a majority of the outstanding shares of the Company entitled to vote at a meeting of the stockholders. Notwithstanding the foregoing, the Board may, at any time, discontinue the Plan and the Committee may, at any time, cancel any
outstanding Award, provided that no such action shall adversely affect rights under any outstanding Award without the holder’s consent. Nothing in this Section 11 shall limit the Committee’s authority to take any action permitted
pursuant to Section 3(c). 
  

	SECTION 12.	STATUS OF PLAN 

 With respect to the portion of any Award that has not been
exercised and any payments in cash, Stock or other consideration not received by a grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Committee shall otherwise expressly determine in connection
with any Award or Awards. In its sole discretion, the Committee may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect to Awards hereunder, provided that the
existence of such trusts or other arrangements is consistent with the foregoing sentence. 
  

	SECTION 13.	GENERAL PROVISIONS  

 (a) No Distribution; Compliance with Legal
Requirements. The Committee may require each person acquiring Stock pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the shares without a view to distribution thereof. No shares of Stock
shall be issued pursuant to an Award until all applicable securities law and other legal requirements have been satisfied. The Committee may require the placing of restrictive legends on certificates for Stock and Awards as it deems appropriate.

 (b) Delivery of Stock Certificates. Stock certificates to grantees under this Plan shall be deemed delivered for all purposes when
the Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the grantee, at the grantee’s last known address on file with the Company. 

  
  

15 

 (c) Other Compensation Arrangements; No Employment Rights. Nothing contained in this
Plan shall prevent the Board from adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable or applicable only in specific cases. The adoption of this Plan and the grant of
Awards do not confer upon any employee any right to continued employment with the Company or any Subsidiary. 
 (d) Loans to Award
Recipients. The Company shall have the authority to make loans to recipients of Awards hereunder (including to facilitate the purchase of shares) and shall further have the authority to issue shares for promissory notes hereunder. 

(e) Designation of Beneficiary. Each grantee to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries
to exercise any Award or receive any payment under any Award payable on or after the grantee’s death. Any such designation shall be on a form provided for that purpose by the Committee and shall not be effective until received by the Committee.
If no beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate. 

(f) Legend. Any certificate(s) representing the Issued Shares shall carry substantially the following legend: 

The transferability of this certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions
(including repurchase and restrictions against transfers) contained in The Echo Nest Corporation 2007 Stock Option and Grant Plan and any agreement entered into thereunder by and between the company and the holder of this certificate (a copy of
which is available at the offices of the company for examination). 
  

	SECTION 14.	EFFECTIVE DATE OF PLAN 

 This Plan shall become effective upon approval by the
stockholders in accordance with applicable law. Subject to such approval by the stockholders and to the requirement that no Stock may be issued hereunder prior to such approval, Stock Options and other Awards may be granted hereunder on and after
adoption of this Plan by the Board. 
  

	SECTION 15.	GOVERNING LAW 

 This Plan and all Awards and actions taken thereunder shall be
governed by, and construed in accordance with, the laws of the State of Delaware, applied without regard to conflict of law principles. 

  
  

16 

	SECTION 16.	DISPUTE RESOLUTION 

 (a) Except as provided below, any dispute arising out of or
relating to this Plan or any Award made hereunder, or any agreement executed in connection herewith, or the breach, termination or validity of this Plan, any such Award or any such agreement, shall be finally settled by binding arbitration conducted
expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be Boston, Massachusetts. 

(b) The arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any third-party witnesses. In addition, each party may take up to three (3) depositions as of right, and the
arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not have the power to order the answering of interrogatories or the response to requests for admission. In
connection with any arbitration, each party to the arbitration shall provide to the other, no later than seven (7) business days before the date of the arbitration, the identity of all persons that may testify at the arbitration and a copy of
all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered within six (6) months of the selection of the arbitrator.
The arbitrator’s decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory damages and shall not multiply actual damages or
award punitive damages, and each party hereby irrevocably waives any claim to such damages. 
 (c) The Company, each recipient of an Award
hereunder, each party to an agreement governed hereby and any other holder of Stock issued under this Plan (each, a “Party”) covenants and agrees that such party will participate in the arbitration in good faith. This Section 14
applies equally to requests for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding
immediate and irreparable harm. 
 (d) Each Party (i) hereby irrevocably submits to the jurisdiction of any United States District
Court of competent jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any
claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit, action or proceeding is brought in an
inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives and agrees not to seek any review by any court
of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices are to be given. Each Party agrees that
its, his or her submission to jurisdiction and its, his or her consent to 

  
  

17 

 
service of process by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding may be enforced in other jurisdictions by
suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 
 DATE APPROVED BY BOARD
OF DIRECTORS: 
  

			
	 5/21/2007
	  	5/21/2007

  
  

18

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