Document:

EX-10.2

 Exhibit 10.2 

[Dealer name and address] 
  

			
	To:	  	 Box, Inc.
 900 Jefferson Avenue

Redwood City, CA 94063

		
	From:	  	[Dealer]
		
	Re:	  	[Base][Additional] Capped Call Transaction
		
	Ref. No:	  	[__________]1
		
	Date:	  	January [__], 2021

 Dear Ladies and Gentlemen: 

The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced
transaction entered into on the Trade Date specified below (the “Transaction”) between [__________] (“Dealer”)[, through its agent [__________] (the “Agent”),]2 and Box, Inc., a Delaware corporation (“Counterparty”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 

1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA Definitions (the “2006
Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the “Definitions”), in each case as
published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity Definitions will govern and in the event of any
inconsistency between terms defined in the Equity Definitions and this Confirmation, this Confirmation shall govern. 
 This Confirmation
evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of
the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an agreement in such form on the Trade Date (but without any Schedule except for (i) the election of the laws of the State of New York as the governing law (without
reference to choice of law doctrine, [(ii) the election of an executed guarantee of [__________] (“Guarantor”) dated as of the Trade Date in substantially the form attached hereto as Schedule 1 as a Credit Support Document,
(iii) the election of Guarantor as Credit Support Provider in relation to Dealer and (iv)]3 [and (ii)] the election that the “Cross Default” provisions of Section 5(a)(vi) of
the Agreement shall apply to Dealer, (a) [with a Threshold Amount” of 3% of the shareholders’ equity of [Dealer] [[__] [(“Dealer Parent”)]4 on the Trade Date,
(b) “Specified Indebtedness” having the meaning set forth in Section 14 of the Agreement, except that it shall not include any obligation in respect of deposits received in the ordinary course of Dealer’s banking business,
(c) the phrase “, or becoming capable at such time of being declared,” shall be deleted from clause (1) of such Section 5(a)(vi) of the Agreement, and (d) the following sentence shall be added to the end of
Section 5(a)(vi) of the Agreement: “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely by error or omission of an administrative or
operational nature; (ii) funds were available to enable the relevant party to make payment when due; and (iii) the payment is made within two Local Business Days of such party’s receipt of written notice of its failure to pay.”).

  

	1 	 If applicable 

	2 	 If applicable 

	3 	 Requested if Dealer is not the highest rated entity in group, typically from Parent. 

	4 	 Include as applicable 

 All provisions contained in, or incorporated by reference to, the Agreement will govern this
Confirmation except as expressly modified herein. In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern. 

The Transaction hereunder shall be the sole Transaction under the Agreement. If there exists any ISDA Master Agreement between Dealer and
Counterparty or any confirmation or other agreement between Dealer and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer and Counterparty, then notwithstanding anything to the contrary in such ISDA Master
Agreement, such confirmation or agreement or any other agreement to which Dealer and Counterparty are parties, the Transaction shall not be considered a Transaction under, or otherwise governed by, such existing or deemed ISDA Master Agreement. 

2. The Transaction constitutes a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular Transaction to
which this Confirmation relates are as follows: 
 General Terms: 
  

			
	 Trade Date:
	  	January [__], 2021
		
	 Effective Date:
	  	January [__], 2021, or such other date as agreed by the parties in writing.
		
	 Components:
	  	The Transaction will be divided into individual Components, each with the terms set forth in this Confirmation, and, in particular, with the Number of Options and Expiration Date set forth in Annex A to this Confirmation. The
exercise, valuation and settlement of the Transaction will be effected separately for each Component as if each Component were a separate Transaction under the Agreement.
		
	 Option Style:
	  	“European”, as described under “Procedures for Exercise” below.
		
	 Option Type:
	  	Call
		
	 Seller:
	  	Dealer
		
	 Buyer:
	  	Counterparty
		
	 Shares:
	  	Class A Common Stock of Counterparty, par value USD$0.0001 (Ticker Symbol: “BOX”).
		
	 Number of Options:
	  	For each Component, as provided in Annex A to this Confirmation.5
		
	 Option Entitlement:
	  	One Share Per Option
		
	 Strike Price:
	  	USD 25.7955
		
	 Cap Price:
	  	USD 35.5800; provided that in no event shall the Cap Price be reduced to an amount less than the Strike Price in connection with any adjustment by the Calculation Agent under this Confirmation.
		
	 Number of Shares:
	  	As of any date, a number of Shares equal to the product of (i) the Number of Options and (ii) the Option Entitlement.

 

	5 	 For the each base capped call confirmation, the total should be equal to (i) the number of Convertible
Notes in principal amount of $1,000 initially issued on the closing date for the Convertible Notes (excluding any Convertible Notes sold pursuant to the shoe) multiplied by (ii) the initial conversion rate multiplied by (iii) the
Dealer’s Applicable Percentage. For each additional capped call confirmation, the total should be equal to (i) the number of additional Convertible Notes in principal amount of $1,000 multiplied by (ii) the initial conversion rate
multiplied by (iii) the Dealer’s Applicable Percentage. 

  
 2 

			
		
	 Premium:
	  	USD [_____] (Premium per Option approximately USD [_____]); Dealer and Counterparty hereby agree that notwithstanding anything to the contrary herein or in the Agreement, following the payment of the Premium, in the event that
(a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement that is within Counterparty’s control)
occurs or is designated with respect to any Transaction and, as a result, Counterparty owes to Dealer the amount calculated under Section 6(d) and Section 6(e) or otherwise under the Agreement (calculated as if the Transactions terminated
on such Early Termination Date were the sole Transactions under the Agreement) or (b) Counterparty owes to Dealer, pursuant to Sections 12.2, 12.3, 12.6, 12.7, 12.8 or 12.9 of the Equity Definitions or otherwise under the Equity Definitions, an
amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.
		
	 Premium Payment Date:
	  	The Effective Date
		
	 Exchange:
	  	The New York Stock Exchange
		
	 Related Exchange:
	  	All Exchanges; provided that Section 1.26 of the Equity Definitions shall be amended to add the words “United States” before the word “exchange” in the tenth line of such Section.
		
	Procedures for Exercise:	  	
		
	 Expiration Time:
	  	The Valuation Time
		
	 Expiration Date:
	  	For any Component, as provided in Annex A to this Confirmation (or, if such date is not a Scheduled Valid Day, the next following Scheduled Valid Day that is not already an Expiration Date for another Component);
provided that if that date is a Disrupted Day, the Expiration Date for such Component shall be the first succeeding Scheduled Valid Day that is not a Disrupted Day and is not or is not deemed to be an Expiration Date in respect of any other
Component of the Transaction hereunder; and provided further that in no event shall the Expiration Date be postponed to a date later than the Final Termination Date and, notwithstanding anything to the contrary in this Confirmation or the
Equity Definitions, if the Expiration Date is a Disrupted Day, the Relevant Price for such Expiration Date shall be the prevailing market value per Share determined by the Calculation Agent in a good faith and commercially reasonable manner.
Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent may determine in a good faith and commercially reasonable manner that such
Expiration Date is a Disrupted Day only in part, in which case the Calculation Agent shall make commercially reasonable adjustments to the Number of Options for the relevant Component for which such day shall be the Expiration Date, shall designate
the Scheduled Valid Day determined in the manner described in the immediately preceding sentence as the Expiration Date for the remaining Options for such Component and may determine the Relevant Price based on transactions in the Shares on such
Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Any Scheduled Valid Day on which, as of the date hereof, the Exchange is scheduled to close prior to its normal close of trading shall be deemed
not to be a Scheduled Valid Day; if a closure of the Exchange prior to its normal close of trading on any Scheduled Valid Day is scheduled following the date hereof, then such Scheduled Valid Day shall be deemed to be a Disrupted Day in full.
Section 6.6 of the Equity Definitions shall not apply to any Valuation Date occurring on an Expiration Date.

  
 3 

			
		
	 Final Termination Date:
	  	[__________, _____]6
		
	 Automatic Exercise:
	  	Applicable; and means that the Number of Options for the relevant Component will be deemed to be automatically exercised at the Expiration Time on the Expiration Date for such Component if at such time such Component is In-the-Money, as determined in a good faith commercially reasonable manner by the Calculation Agent, unless Buyer notifies Seller (in writing) prior to the Expiration Time on
such Expiration Date that it does not wish Automatic Exercise to occur with respect to such Component, in which case Automatic Exercise will not apply with respect to such Component. “In-the-Money” means, in respect of any Component, that the Relevant Price on the Expiration Date for such Component is greater than the Strike Price for such Component.
		
	 Valuation Time:
	  	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in a good faith and commercially
reasonable manner.
		
	 Valuation Date:
	  	For any Component, the Expiration Date therefor.
		
	 Market Disruption Event:
	  	 Section 6.3(a) of the Equity Definitions is hereby amended by deleting the words “during the one hour period that ends at the
relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be,” in clause (ii) thereof.

 
 Section 6.3(d) of the Equity Definitions is hereby amended by deleting the
remainder of the provision following the term “Scheduled Closing Time” in the fourth line thereof.

		
	Settlement Terms:	  	
		
	 Settlement Method Election:
	  	 Applicable; provided that (a) Section 7.1 of the Equity Definitions is hereby amended by replacing the term “Physical
Settlement” with the term “Net Share Settlement”, (b) Counterparty must make a single irrevocable election for all Components and (c) if Counterparty makes a Cash Settlement election, such Settlement Method Election would be
effective only if Counterparty represents and warrants to Dealer in writing on the date of such Settlement Method Election that (i) Counterparty is not in possession of any material non-public information
regarding Counterparty or the Shares, and (ii) such election is being made in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws.

 
 Without limiting the generality of the foregoing, Counterparty acknowledges its
responsibilities under applicable securities laws, and in particular Sections 9 and 10(b) of the Exchange Act and the rules and regulations promulgated thereunder in respect of such
election.

  

	6 	 To be 80 Scheduled Trading Days following the last scheduled Expiration Date. 

  
 4 

			
		
	 Electing Party:
	  	Counterparty
		
	 Settlement Method Election Date:
	  	The second Scheduled Valid Day prior to the scheduled Expiration Date for the Component with the earliest scheduled Expiration Date.
		
	 Default Settlement Method:
	  	Net Share Settlement
		
	 Net Share Settlement:
	  	 With respect to any Component, if Net Share Settlement is applicable to the Options exercised or deemed exercised hereunder, Dealer will
deliver to Counterparty, on the relevant Settlement Date for such Component, a number of Shares (the “Net Share Settlement Amount”) equal to (i) the Daily Option Value on the Expiration Date of such Component divided by
(ii) the Relevant Price on such Expiration Date.
  
 Dealer will deliver cash in
lieu of any fractional Shares to be delivered with respect to any Net Share Settlement Share Amount valued at the Relevant Price for the Expiration Date of such Component.

		
	 Cash Settlement:
	  	With respect to any Component, if Cash Settlement is applicable to the Options exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant
Settlement Date for each such Component, an amount of cash (the “Cash Settlement Amount”) equal to the Daily Option Value on the Expiration Date of such Component.
		
	 Delivery Obligation:
	  	For any Settlement Date, the Net Share Settlement Amount or the Cash Settlement Amount payable or deliverable on such Settlement Date.
		
	 Daily Option Value:
	  	For any Component, an amount equal to (i) the Number of Options in such Component, multiplied by (ii) the Option Entitlement multiplied by (iii)(A) the lesser of the Relevant Price on the Expiration Date of such
Component and the Cap Price, minus (B) the Strike Price on such Expiration Day; provided that if the calculation contained in clause (iii) above results in a negative number, the Daily Option Value for such Component shall be
deemed to be zero. In no event will the Daily Option Value be less than zero.
		
	 Valid Day:
	  	A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market,
“Valid Day” means a Business Day.
		
	 Scheduled Valid Day:
	  	A day that is scheduled to be a Valid Day on the Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market, “Scheduled Valid Day” means a Business Day.
		
	 Business Day:
	  	Any day other than a Saturday, a Sunday or other day on which banking institutions are authorized or required by law, regulation or executive order to close or be closed in the State of New
York.

  
 5 

			
		
	 Relevant Price:
	  	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “BOX <equity> AQR” (or its equivalent successor if such page is not available)
(the “VWAP”) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Valid Day (or if such volume-weighted average price is unavailable at such time,
the market value of one Share on such Valid Day, as determined by the Calculation Agent in a good faith and commercially reasonable manner using, if practicable, a volume-weighted average method substantially similar to the method for determining
the VWAP). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
		
	 Settlement Date:
	  	For all Components of the Transaction, the date one Settlement Cycle immediately following the Expiration Date for the Component with the latest scheduled Expiration Date.
		
	 Settlement Currency:
	  	USD
		
	 Other Applicable Provisions:
	  	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Net Share
Settlement.”
		
	 Representation and Agreement:
	  	Notwithstanding anything to the contrary in Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery, subject
to restrictions, obligations and limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in lieu of
delivery through the Clearance System and (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities
Act”)).
		
	Adjustments:	  	
		
	 Method of Adjustment:
	  	Calculation Agent Adjustment; provided that the parties agree that (x) open market Share repurchases at prevailing market price and (y) Share repurchases through a dealer pursuant to accelerated share
repurchases, forward contracts or similar transactions (including, without limitation, any discount to average VWAP prices) that are entered into at prevailing market prices and in accordance with customary market terms for transactions of such type
to repurchase the Shares shall not be considered Potential Adjustment Events; provided further that the entry into any such accelerated share repurchase transaction, forward contract or similar transaction described in the immediately
preceding proviso shall constitute a Potential Adjustment Event to the extent that, after giving effect to such transaction, the aggregate number of Shares repurchased during the term of the Transaction pursuant to all such transactions described in
the immediately preceding proviso would exceed 20% of the number of Shares outstanding as of the Trade Date, as determined by Calculation Agent.

  
 6 

			
		
	Extraordinary Events:	  	
		
	 New Shares:
	  	In the definition of New Shares in Section 12.1(i) of the Equity Definitions, the text in clause (i) thereof shall be deleted in its entirety and replaced with “publicly quoted, traded or listed on any of The New York
Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or their respective successors) and of an entity or person organized under the laws of the United States, any State thereof or the District of Columbia”.
		
	 Merger Events:
	  	Applicable
		
	 Consequences of Merger Events:
	  	
		
	 (a) Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 (b) Share-for-Other:
	  	Cancellation and Payment (Calculation Agent Determination)
		
	 (c) Share-for-Combined:
	  	Cancellation and Payment (Calculation Agent Determination); provided that the Calculation Agent may elect Component Adjustment for all or part of the Transaction
		
	 Tender Offer:
	  	Applicable; provided that the definition of “Tender Offer” in Section 12.1 of the Equity Definitions will be amended by replacing the phrase “greater than 10% and less than 100% of the outstanding voting
shares of the Counterparty” in the third and fourth line thereof with “(a) greater than 15% and less than 100% of the outstanding Shares of the Counterparty”.
		
	 Consequences of Tender Offers:
	  	
		
	 (a) Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 (b) Share-for-Other:
	  	Modified Calculation Agent Adjustment
		
	 (c) Share-for-Combined:
	  	Modified Calculation Agent Adjustment
		
	 Consequences of Announcement Events:
	  	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by
references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to “date of such Announcement Event” in the definition of Modified Calculation Agent Adjustment set forth in
Section 12.3(d), (y) the phrase “exercise, settlement, payment or any other terms of the Transaction (including, without limitation, the spread)” in the third and fourth lines of the definition of Modified Calculation Agent Adjustment
set forth in Section 12.3(d) shall be replaced with the phrase “Cap Price (provided that in no event shall the Cap Price be less than the Strike Price)” and the words “whether within a commercially reasonable (as
determined by the Calculation Agent) period of time prior to or after the Announcement Event” shall be inserted prior to the word “which” in the seventh line, and (z) for the avoidance of doubt, the Calculation Agent shall, in
good faith and a commercially reasonable manner, determine whether the relevant Announcement Event has had a material economic effect on the Transaction and, if so, shall adjust the Cap Price accordingly to take into account such economic effect on
one

  
 7 

			
		
		  	or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that any adjustment in respect of an
Announcement Event shall take into account any earlier adjustment relating to the same Announcement Event and shall not be duplicative with any other adjustment or cancellation valuation made pursuant to this Confirmation, the Equity Definitions or
the Agreement; provided that in no event shall the Cap Price be adjusted to be less than the Strike Price. An Announcement Event shall be an “Extraordinary Event” for purposes of the Equity Definitions, to which Article 12 of the
Equity Definitions is applicable; provided further that upon the Calculation Agent making an adjustment, determined in a commercially reasonable manner, to the Cap Price upon any Announcement Event, then the Calculation Agent shall make an
adjustment to the Cap Price upon any announcement regarding the same event that gave rise to the original Announcement Event regarding the abandonment of any such event to the extent necessary to reflect the economic effect of such subsequent
announcement on the Transaction (provided that in no event shall the Cap Price be less than the Strike Price).
		
	 Announcement Event:
	  	(i) The public announcement (whether by Counterparty or a Valid Third Party Entity) of any Merger Event or Tender Offer, or the announcement by Counterparty of any intention to enter into a Merger Event or Tender Offer,
(ii) the public announcement by Counterparty of an intention by Counterparty to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event or Tender Offer, (iii) there occurs a
public announcement (whether by Counterparty or a Valid Third Party Entity) of any potential acquisition or disposition by Counterparty and/or its subsidiaries where the consideration exceeds 35% of the market capitalization of Counterparty as of
the date of such announcement, or (iv) any subsequent public announcement (whether by Counterparty or a Valid Third Party Entity) of a change to a transaction or intention that is the subject of an announcement of the type described in clause
(i), (ii) or (iii) of this sentence (including, without limitation, a new announcement relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or
intention); provided that, for the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or
intention.
		
	 Valid Third Party Entity:
	  	In respect of any transaction, any third party that has a bona fide intent to enter into or consummate such transaction (it being understood and agreed that in determining whether such third party has such a bona fide intent, the
Calculation Agent may take into consideration the effect of the relevant announcement by such third party on the Shares and/or options relating to the Shares).

  
 8 

			
		
	 Notice of Merger Consideration and Consequences:
	  	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election), Counterparty shall
reasonably promptly (but in any event prior to the relevant merger date) notify the Calculation Agent of (i) the type and amount of consideration that a holder of Shares would have been entitled to in the case of reclassifications,
consolidations, mergers, sales or transfers of assets or other transactions that cause Shares to be converted into the right to receive more than a single type of consideration and (ii) the weighted average of the types and amounts of
consideration to be received by the holders of Shares that affirmatively make such an election.
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Shares are not
immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The
NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any
such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
		
	Additional Disruption Events:	  	
		
	 (a) Change in Law:
	  	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public
announcement of, the formal or informal interpretation”, (ii) by adding the phrase “and/or Hedge Position” after the word “Shares” in clause (X) thereof and (iii) by immediately following the word
“Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by the Hedging Party on the Trade Date assuming such Dealer maintains a commercially reasonable hedge position”.
		
	 (b) Failure to Deliver:
	  	Applicable
		
	 (c) Insolvency Filing:
	  	Applicable
		
	 (d) Hedging Disruption:
	  	Applicable
		
	 (e) Increased Cost of Hedging:
	  	Not Applicable
		
	Hedging Party:	  	Dealer

  
 9 

			
		
	 Determining Party:
	  	For all applicable Extraordinary Events, Dealer; all calculations and determinations made by the Determining Party shall be made in good faith and in a commercially reasonable manner; provided that, upon receipt of written
request from Counterparty, the Determining Party shall promptly provide Counterparty with a written explanation describing in reasonable detail any calculation, adjustment or determination made by it (including any quotations, market data or
information from internal or external sources used in making such calculation, adjustment or determination, as the case may be, in a commonly used file format for the storage and manipulation of financial data, but without disclosing Determining
Party’s proprietary models or other information that may be proprietary or subject to contractual, legal or regulatory obligations to not disclose such information), and shall use commercially reasonable efforts to provide such written
explanation within five (5) Exchange Business Days from the receipt of such request.
		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgments Regarding Hedging Activities:
	  	Applicable
		
	 Hedging Adjustment:
	  	For the avoidance of doubt, whenever the Dealer, Determining Party or Calculation Agent is permitted to make an adjustment pursuant to the terms of this Confirmation or the Equity Definitions to take into account the effect of an
event, the Calculation Agent or Determining Party or Dealer, as the case may be, shall make such adjustment be reference to the effect of such event on Dealer assuming that Dealer maintains a commercially reasonable hedge position.
		
	 Additional Acknowledgments:
	  	Applicable

 3. Calculation Agent: Dealer; provided that, following the occurrence of an Event of Default of
the type described in Section 5(a)(vii) of the Agreement with respect to which Dealer is the sole Defaulting Party, if the Calculation Agent fails to timely make any calculation, adjustment or determination required to be made by the
Calculation Agent hereunder or to perform any obligation of the Calculation Agent hereunder and such failure continues for five (5) Exchange Business Days following notice to the Calculation Agent by Counterparty of such failure, Counterparty
shall have the right to designate a nationally recognized third-party dealer in over-the-counter corporate equity derivatives to act, during the period commencing on the
date such Event of Default occurred and ending on the Early Termination Date with respect to such Event of Default, as the Calculation Agent. 

All calculations and determinations made by the Calculation Agent shall be made in good faith and in a commercially reasonable manner;
provided that, upon receipt of written request from Counterparty, the Calculation Agent shall promptly provide Counterparty with a written explanation describing in reasonable detail any calculation, adjustment or determination made by it
(including any quotations, market data or information from internal or external sources used in making such calculation, adjustment or determination, as the case may be, but without disclosing Dealer’s proprietary models or other information
that may be proprietary or subject to contractual, legal or regulatory obligations to not disclose such information), and shall use commercially reasonable efforts to provide such written explanation within five (5) Exchange Business Days from
the receipt of such request. 
 4. Account Details: 

Dealer Payment Instructions: 

[Bank:        [____________] 

SWIFT:      [____________] 

  
 10 

 Bank Routing:         [____________] 

Acct Name:             [____________] 

Acct No.:                 [____________]] 

Counterparty Payment Instructions: To be advised. 

5. Offices: 
 The Office
of Dealer for the Transaction is: [____________] 
 [Dealer’s Office Address] 

The Office of Counterparty for the Transaction is: Inapplicable, Company is not a Multibranch Party. 

6. Notices: For purposes of this Confirmation: 

(a) Address for notices or communications to Counterparty: 
  

							
	 To:
	  	 Box, Inc.
 900 Jefferson Ave.

Redwood City, CA 94063
	  		  	
	 Attention:
	  	 Chief Financial Officer
	  		  	
	 Telephone No.:
	  	 [(___) _______]
	  		  	
	 Email:
	  	 [____________]
	  		  	

 (b) Address for notices or communications to Dealer: 

 

							
	 [To:
	  	 [__]
 [__]

[__]
	  		  	
	 Attention:
	  	 [__]
	  		  	
	 Telephone:
	  	 [__]
	  		  	
	 Facsimile:
	  	 [__]
	  		  	
	 Email:
	  	 [__]
	  		  	
				
	 With a copy to:
	  		  		  	
				
	 [To:
	  	 [__]
 [__]

[__]
	  		  	
	 Attention:
	  	 [__]
	  		  	
	 Telephone:
	  	 [__]
	  		  	
	 Facsimile:
	  	 [__]
	  		  	
	 Email:
	  	 [__]]
	  		  	
		  		  		  	
		  		  		  	

 7. Representations, Warranties and Agreements:  

(a) In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty represents and
warrants to and for the benefit of, and agrees with, Dealer as follows: 
 (i) On the Trade Date (A) none of
Counterparty and its officers and directors is aware of any material non-public information regarding Counterparty or the Shares, and (B) all reports and other documents filed by Counterparty with the
Securities and Exchange Commission pursuant to the Exchange Act when considered as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain
any untrue statement of a material fact or any omission of a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading . 

  
 11 

 (ii) On the Trade Date, (A) the Shares or securities that are
convertible into, or exchangeable or exercisable for Shares, are not, and shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”), and
(B) Counterparty is not engaged in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in Rule 101(b)(10) and 102(b)(7) or Rule 102(c)(1)(i) of
Regulation M. 
 (iii) On the Trade Date, neither Counterparty nor any “affiliated purchaser” (as defined in Rule 10b-18 of the Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled or other derivative
instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited
partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer. 

(iv) Without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that neither
Dealer nor any of its affiliates is making any representations or warranties or taking any position or expressing any view with respect to the treatment of the Transaction under any accounting standards including ASC Topic 260, Earnings Per
Share, ASC Topic 815, Derivatives and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives and Hedging – Contracts in
Entity’s Own Equity (or any successor issue statements). 
 (v) Without limiting the generality of
Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act. 

(vi) Prior to the Trade Date, Counterparty shall deliver to Dealer a resolution of Counterparty’s board of directors
authorizing the Transaction. 
 (vii) Counterparty is not entering into this Confirmation to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise in violation of the Exchange Act. 

(viii) Counterparty is not, and after giving effect to the transactions contemplated hereby will not be, required to register
as, an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
 (ix) On
each of the Trade Date, the Premium Payment Date and immediately after giving effect to the Transaction on the Premium Payment Date, (A) the present fair market value (or present fair saleable value) of the total assets of Counterparty is not
less than the total amount required to pay the probable total liabilities (including contingent liabilities) of Counterparty as they mature and become absolute, (B) the capital of Counterparty is adequate to conduct its business in the manner
described in the offering memorandum relating to the Convertible Notes and to enter into the Transaction, (C) Counterparty has the ability to pay its debts and obligations as such debts mature, (D) Counterparty is not “insolvent”
(as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and (E) Counterparty would be able to purchase the Number of Shares with respect to
the Transaction in compliance with the laws of the jurisdiction of Counterparty’s incorporation (including the adequate surplus and capital requirements of Sections 154 and 160 of the General Corporation Law of the State of Delaware). 

(x) To Counterparty’s knowledge, no U.S. state or local law, rule, regulation or regulatory order applicable to the Shares
would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined)
Shares; provided that no such representation shall be made by Counterparty with respect to any rules and regulations applicable to Dealer (including FINRA) arising from Dealer’s status as a regulated entity under applicable law. 

  
 12 

 (xi) Counterparty (A) is capable of evaluating investment risks
independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated
persons, unless it has otherwise notified the broker-dealer in writing, (C) has total assets of at least $50 million as of the date hereof. 

(b) Each of Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in
Section 1a(18) of the U.S. Commodity Exchange Act, as amended, and is entering into the Transaction as principal (and not as agent or in any other capacity, fiduciary or otherwise) and not for the benefit of any third party. 

(c) Each of Dealer and Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and is able to
bear a total loss of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable, are not disproportionate to its net worth, and it is able to bear any loss in connection with
the Transaction, including the loss of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the
Transaction for its own account and without a view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted
under this Confirmation, the Securities Act and state securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and no need to dispose of any portion thereof to
satisfy any existing or contemplated undertaking or indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks
of the Transaction.  
 (d) Each of Dealer and Counterparty agrees and acknowledges that Dealer is a “financial
institution,” “swap participant” and “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of the Bankruptcy Code. The parties hereto further agree and acknowledge (A) that this
Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination
value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “settlement payment” within the meaning of Section 546 of the Bankruptcy Code, and
(ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination value,” “payment
amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “transfer” within the meaning of Section 546 of the Bankruptcy Code, and (B) that Dealer is entitled to the
protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 362(b)(27), 362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy Code. 

(e) As a condition to the effectiveness of the Transaction, Counterparty shall deliver to Dealer an opinion of counsel, dated as of the
Effective Date, in substantially the form attached hereto as Annex B. 
 (f) Counterparty understands that notwithstanding any other
relationship between Counterparty and Dealer and its affiliates, in connection with the Transaction and any other over-the-counter derivative transactions between
Counterparty and Dealer or its affiliates, Dealer or its affiliates is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment, unwind or termination thereof. 

(g) Each party acknowledges and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory Authority, Inc. applicable to
transactions in options, and further agrees not to violate the position and exercise limits set forth therein. 
 (h) Counterparty represents
and warrants that it has received, read and understands the OTC Options Risk Disclosure Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of Standardized
Options”. 

  
 13 

 8. Other Provisions: 

(a) Right to Extend. Dealer may divide any Component into additional Components and designate the Expiration Date and the Number of
Options for each such Component if Dealer determines, in good faith and a commercially reasonable manner, that such further division is necessary or advisable to preserve Dealer’s hedging or hedge unwind activity assuming such Dealer maintains
a commercially reasonable hedge position hereunder in light of existing liquidity conditions or to enable Dealer to effect purchases of Shares in connection with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a
manner that would, if Dealer were Counterparty or an affiliated purchaser of Counterparty, be compliant and consistent with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures, generally applicable
to transactions of the type of the Transactions; provided that in no event shall any Expiration Date for any Component be postponed to a date later than the Final Termination Date.  

(b) Additional Termination Events. Promptly (but in any event within ten Scheduled Trading Days) following any repurchase, redemption,
exchange or conversion and, in any case, cancellation of any of Counterparty’s [__]% Convertible Senior Notes due 2026 (the “Convertible Notes”) issued pursuant to Counterparty’s indenture (the
“Indenture”) [to be]7 dated January [__], 2021 between Counterparty and U.S. Bank National Association, as trustee, Counterparty may notify Dealer in writing of such repurchase,
redemption, exchange or conversion and, in any case, cancellation and the number of Convertible Notes so repurchased or converted and, in either case, cancelled (any such notice specifying that such notice is being made by Counterparty pursuant to
Section 8(b) hereof, a “Repurchase Notice” and any such event, a “Repurchase Event”). Notwithstanding anything to the contrary in this Confirmation, the receipt by Dealer from Counterparty of (x) any
Repurchase Notice, within the applicable time period set forth in the preceding sentence, and (y) a written representation and warranty by Counterparty that, as of the date of such Repurchase Notice, Counterparty is not in possession of any
material non-public information regarding Counterparty or the Shares, shall constitute an Additional Termination Event as provided in this paragraph. Upon receipt of any such Repurchase Notice and the related
written representation and warranty, Dealer shall promptly designate an Exchange Business Day following receipt of such Repurchase Notice as an Early Termination Date with respect to the portion of this Transaction corresponding to a number of
Options (the “Repurchase Options”) equal to the lesser of (A) [(x)]8 the number of shares of Common stock underlying the Convertible Notes applicable to the Transaction that is
specified in such Repurchase Notice and (B) the Number of Options as of the date Dealer designates such Early Termination Date and, as of such date, the Number of Options shall be reduced by the number of Repurchase Options [minus
(y) the number of Repurchase Options (as defined in the Base Call Option Transaction dated January [__], 2021 between Dealer and Counterparty (the “Base Call Option Transaction Confirmation”), if any, that relate to such
Convertible Notes (and for purposes of determining whether any Options under this Confirmation or under the Base Call Option Transaction Confirmation will be among the Repurchase Options hereunder or under, and as defined in, the Base Call Option
Transaction Confirmation, the Convertible Notes specified in such Repurchase Notice shall be allocated first to the Base Call Option Transaction Confirmation until all Options thereunder are exercised or terminated)]9. Any payment hereunder with respect to such termination shall be calculated pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a
Transaction having terms identical to this Transaction and a Number of Options equal to the number of Repurchase Options, (2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the
terminated portion of the Transaction were the sole Affected Transaction. 
 (c) Alternative Calculations and Payment on Early Termination
and on Certain Extraordinary Events. If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or (b) the Transaction is cancelled or
terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of cash, (ii) a Merger Event
or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party, which Event of Default or Termination
Event resulted from an event or events within Counterparty’s control), and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) and 6(e) of the Agreement or any Cancellation Amount pursuant to Article 12 of the
Equity Definitions (any such amount, a “Payment Obligation”), then Dealer shall satisfy the 
  

	7 	 Include in the Base Capped Call Confirmation. Include in the Additional Capped Call Confirmation if executed by
the closing of the base deal. 

	8 	 Include for additional capped call 

	9 	 Include for additional capped call 

  
 14 

 
Payment Obligation by the Share Termination Alternative (as defined below) unless (a) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled
Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable, of its
election that the Share Termination Alternative shall not apply, (b) as of the date of such election, Counterparty represents that is not in possession of any material non-public information regarding
Counterparty or the Shares, and that such election is being made in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws, and (c) Dealer agrees, in its commercially reasonable discretion, to such
election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii) and 6(e) of the Agreement, as the case may be, shall apply. 

 

			
	Share Termination Alternative:	  	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant
to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.
		
	Share Termination Delivery Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery
Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.
		
	Share Termination Unit Price:	  	The value of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of
notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider a variety of factors, including the market price of the Share
Termination Delivery Units and/or the purchase price paid in connection with the commercially reasonable purchase of Share Termination Delivery Property.
		
	Share Termination Delivery Unit:	  	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the
“Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any
securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.
		
	Failure to Deliver:	  	Applicable
		
	Other Applicable Provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in
Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as
references to “Share Termination Delivery Units”. “Share Termination Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

  
 15 

 (d) Disposition of Hedge Shares. Counterparty hereby agrees that if, in the good
faith reasonable judgment of Dealer, based on the advice of legal counsel, the Shares acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction (the “Hedge Shares”) cannot be sold in the U.S.
public market by Dealer without registration under the Securities Act, Counterparty shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, use its commercially reasonable efforts to make
available to Dealer an effective registration statement under the Securities Act to cover the resale of such Hedge Shares and (A) enter into an agreement, in form and substance reasonably satisfactory to Dealer, substantially in the form of an
underwriting agreement for a registered offering for companies of a similar size in a similar industry, (B) provide accountant’s “comfort” letters in customary form for registered offerings of equity securities for companies of a
similar size in a similar industry, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty in customary form for registered offerings of equity securities for companies of a similar size in a similar industry,
(D) provide other customary opinions, certificates and closing documents customary in form for registered offerings of equity securities for companies of a similar size in a similar industry and (E) afford Dealer a reasonable opportunity
to conduct a “due diligence” investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities for companies of a similar size in a similar industry; provided, however, that, if
Counterparty elects clause (i) above but Dealer, in its commercially reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the
registered offering referred to above, then clause (ii) or clause (iii) of this Section 8(d) shall apply at the election of Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, enter into a
private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity securities of companies of a similar size in a similar industry, in form and substance commercially reasonably
satisfactory to Dealer using best efforts to include customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Hedge
Shares from Dealer), opinions and certificates and such other documentation as is customary for private placements agreements of equity securities of companies of a similar size in a similar industry, as is reasonably acceptable to Dealer (in which
case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary, in its good faith and commercially reasonable judgment, to compensate Dealer for any customary liquidity discount from the public market price
of the Shares incurred on the sale of Hedge Shares in a private placement); provided that no “comfort letter” or accountants’ consent shall be required to be delivered in connection with any private placements; or
(iii) purchase the Hedge Shares from Dealer at the Relevant Price on such Exchange Business Days, and in the amounts, requested by Dealer. 

(e) Repurchase Notices. Counterparty shall, at least one Scheduled Valid Day prior to any day on which Counterparty intends to effect
any repurchase of Shares, give Dealer written notice of such repurchase (a “Repurchase Notice”) on such day if, following such repurchase, the Notice Percentage would reasonably be expected to be (i) greater than [__]10% or (ii) greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice, greater than the Notice
Percentage as of the date hereof). The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is the Number of Shares and the denominator of which is the number of Shares outstanding on
such day. In the event that Counterparty fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 8(e) then Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and their
respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any and all losses (including losses relating to the Dealer’s commercially
reasonable hedging activities as a consequence of becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in
connection therewith with respect to the Transaction), claims, damages and liabilities (or actions in 
  

	10 	 To be 0.5% higher than the number of Shares underlying the capped call (including any additional capped call)
of the Dealer with the highest Applicable Percentage. 

  
 16 

 
respect thereof), joint or several, to which such Indemnified Party may become subject under applicable securities laws, including without limitation, Section 16 of the Exchange Act or under
any U.S. state or federal law, regulation or regulatory order, in each case relating to or arising out of such failure. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any
Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability. In addition, Counterparty will reimburse any
Indemnified Party for all reasonable expenses (including reasonable counsel fees and expenses) as they are incurred (after notice to Counterparty) in connection with the investigation of, preparation for or defense or settlement of any pending or
threatened claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty, in each
case relating to or arising out of such failure. This indemnity shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and delegation of the Transaction made pursuant to this Confirmation or the
Agreement shall inure to the benefit of any permitted assignee of Dealer. Counterparty will not be liable under this indemnity provision to the extent any loss, claim, damage, liability or expense is found in a final judgment by a court to have
resulted from Dealer’s gross negligence or willful misconduct. 
 (f) Transfer and Assignment. Either party may transfer or
assign any of its rights or obligations under the Transaction with the prior written consent of the non-transferring party, such consent not to be unreasonably withheld or delayed; provided that Dealer
may transfer or assign without any consent of Counterparty its rights and obligations hereunder, in whole or in part, to (A) any affiliate of Dealer whose obligations would be guaranteed by Dealer [or Dealer Parent]11 or (B) any person (including any affiliate of Dealer whose obligations are not guaranteed in the manner described in clause (A)) or any person whose obligations would be guaranteed by a person
(a “Designated Transferee”), in either case under this clause (B), with a rating for its long-term, unsecured and unsubordinated indebtedness at least equivalent to Dealer’s (or its guarantor’s), provided,
however, that, in the case of this clause (B), in no event shall the credit rating of the Designated Transferee or of its guarantor (whichever is higher) be lower than A3 from Moody’s Investor Service, Inc. or its successor or A- from Standard and Poor’s Rating Group, Inc. or its successor; provided further that (i) Dealer will notify Counterparty in writing prior to any proposed transfer or assignment to a Designated
Transferee, (ii) as a result of any such transfer or assignment, Counterparty will not be required to pay the transferee or assignee of such rights or obligations on any payment date an amount under Section 2(d)(i)(4) of the Agreement
greater than the amount, if any, that Counterparty would have been required to pay Dealer in the absence of such transfer or assignment and (iii) the transferee or assignee shall provide Counterparty with a complete and accurate U.S. Internal
Revenue Service Form W-9 or W-8 (as applicable) prior to becoming a party to the Transaction. If at any time at which (1) the Equity Percentage exceeds 8.0% or
(2) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under the Business
Combinations Statute or other federal, state or local law, rule, regulation or regulatory order or organizational documents or contracts of Counterparty applicable to ownership of Shares (“Applicable Restrictions”), owns,
beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting, registration,
filing or notification obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable Restrictions and with respect to which such requirements have not been met or the
relevant approval has not been received minus (y) 1% of the number of Shares outstanding on the date of determination (either such condition described in clause (1) or (2), an “Excess Ownership Position”), if Dealer, in
its reasonable discretion, is unable to effect a transfer or assignment to a third party in accordance with the requirements set forth above after its commercially reasonable efforts on pricing and terms and within a time period reasonably
acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Valid Day as an Early Termination Date with respect to a portion (the “Terminated Portion”) of the Transaction, such
that an Excess Ownership Position no longer exists following such partial termination. In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall be made pursuant to
Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an Early Termination Date had been designated in respect of a Transaction having terms identical to the Terminated Portion of the Transaction,
(ii) Counterparty were the sole Affected Party with respect to 
  

	11 	 If applicable 

  
 17 

 
such partial termination, (iii) such portion of the Transaction were the only Terminated Transaction and (iv) Dealer were the party entitled to designate an Early Termination Date
pursuant to Section 6(b) of the Agreement and to determine the amount payable pursuant to Section 6(e) of the Agreement. The “Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the
numerator of which is the number of Shares that Dealer and any of its affiliates subject to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act and all persons who may form a
“group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer (collectively, “Dealer Group”) “beneficially own” (within the meaning of Section 13
of the Exchange Act) without duplication on such day and (B) the denominator of which is the number of Shares outstanding on such day. 

In the case of a transfer or assignment by Counterparty of its rights and obligations hereunder and under the Agreement, in whole or in part
(any such Options so transferred or assigned, the “Transfer Options”), to any party, withholding of such consent by Dealer shall not be considered unreasonable if such transfer or assignment does not meet the reasonable conditions
that Dealer may impose including, but not limited, to the following conditions: 
 (A) With respect to any Transfer Options,
Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 8(e) or any obligations under Section 2 (regarding Extraordinary Events) or 8(d) of this Confirmation; 

(B) Any Transfer Options shall only be transferred or assigned to a third party that is a U.S. person (as defined in the
Internal Revenue Code of 1986, as amended, the “Code”)); 
 (C) Such transfer or assignment shall be
effected on terms, including any reasonable undertakings by such third party (including, but not limited to, undertakings with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not
expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery of customary legal opinions with respect to securities laws and other matters by such third party and Counterparty as are reasonably
requested and reasonably satisfactory to Dealer; 
 (D) Dealer will not, as a result of such transfer and assignment, be
required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; 

(E) An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and
assignment; 
 (F) Without limiting the generality of clause (B), Counterparty shall have caused the transferee to make such
Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer and assignment; and

 (G) Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred
by Dealer in connection with such transfer or assignment. 
 Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing
Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Dealer may designate any of its affiliates (a “Dealer Affiliate”) to purchase, sell,
receive or deliver such Shares or other securities, or to make or receive such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations. Dealer shall be
discharged of its obligations to Counterparty to the extent that the Dealer Affiliate fully performs such obligations under this Transaction. 

(g) Staggered Settlement. If Dealer determines reasonably and in good faith that the number of Shares required to be delivered to
Counterparty hereunder on any Settlement Date would result in an Excess Ownership Position, then Dealer may, by notice to Counterparty prior to such Settlement Date (a “Nominal Settlement Date”), elect to deliver any Shares due to
be delivered on two or more dates (each, a “Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows: 

  
 18 

 (i) in such notice, Dealer will specify to Counterparty the related
Staggered Settlement Dates (each of which will be on or prior to the 20th Exchange Business Day after such Nominal Settlement Date) or delivery times and how it will allocate the Shares it is
required to deliver under “Delivery Obligation” (above) among the Staggered Settlement Dates or delivery times; and 

(ii) the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered Settlement Dates
and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; provided that in no event shall any Staggered Settlement Date be a date later than the Final Termination
Date. 
 (h) Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of
its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that
are provided to Counterparty relating to such tax treatment and tax structure.  
 (i) No Netting and Set-off. The provisions of Section 2(c) of the Agreement shall not apply to the Transaction. Each party waives any and all rights it may have to set-off delivery or
payment obligations it owes to the other party under the Transaction against any delivery or payment obligations owed to it by the other party, whether arising under the Agreement, under any other agreement between parties hereto, by operation of
law or otherwise. 
 (j) Equity Rights. Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights
with respect to the Transaction that are senior to the claims of common stockholders in the event of Counterparty’s bankruptcy. For the avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time other than
during Counterparty’s bankruptcy to any claim arising as a result of a breach by Counterparty of any of its obligations under this Confirmation or the Agreement. For the avoidance of doubt, the parties acknowledge that the obligations of
Counterparty under this Confirmation are not secured by any collateral that would otherwise secure the obligations of Counterparty herein under or pursuant to any other agreement. 

(k) Early Unwind. In the event the sale of the [Firm Securities]12[Additional
Securities]13 (as defined in the Purchase Agreement, dated as of January [__], 2021, among Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and [_____________], as
representatives of the several initial purchasers thereto, and Counterparty (the “Purchase Agreement”)) is not consummated pursuant to the Purchase Agreement for any reason by the close of business in New York on January [__], 202114 (or such later date as agreed upon by the parties which in no event shall be later than the second Scheduled Valid Day following January [__], 2021) (such date or such later date as agreed upon
being the “Accelerated Unwind Date”), the Transaction shall automatically terminate on the Accelerated Unwind Date and (i) the Transaction and all of the respective rights and obligations of Dealer and Counterparty under the
Transaction shall be cancelled and terminated and (ii) each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of the other
party arising out of and to be performed in connection with the Transaction either prior to or after the Accelerated Unwind Date. 
 (l)
Illegality. The parties agree that, for the avoidance of doubt, for purposes of Section 5(b)(i) of the Agreement, “any applicable law” shall include the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any
rules and regulations promulgated thereunder and any similar law or regulation, without regard to Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any similar legal certainty provision in any legislation
enacted, or rule or regulation promulgated, on or after the Trade Date, and the consequences specified in the Agreement, including without limitation, the consequences specified in Section 6 of the Agreement, shall apply to any Illegality
arising from any such act, rule or regulation.  
 (m) Amendments to Equity Definitions and the Agreement. The following
amendments shall be made to the Equity Definitions: 
  

	12 	 Include for the base capped call 

	13 	 Include for additional capped call 

	14 	 For the base capped call, to be the schedule closing date for the Firm Securities. For the additional capped
call, to be the scheduled closing date for the Additional Securities. 

  
 19 

 (i) solely for purposes of applying the Equity Definitions and for purposes
of this Confirmation, any reference in the Equity Definitions to a Strike Price shall be deemed to be a reference to either of the Strike Price or the Cap Price, or both, as appropriate; 

(ii) for the purpose of any adjustment under Section 11.2(c) of the Equity Definitions, the first sentence of
Section 11.2(c) of the Equity Definitions, prior to clause (A) thereof, is hereby amended to read as follows: (c) If “Calculation Agent Adjustment” is specified as the Method of Adjustment in the related Confirmation of a
Share Option Transaction, then following the announcement or occurrence of any Potential Adjustment Event, the Calculation Agent will determine whether such Potential Adjustment Event has, in the commercially reasonable judgment of the Calculation
Agent, a material economic effect on the theoretical value of the relevant Shares or options on the Shares (provided that such event is not based on (x) an observable market, other than the market for Counterparty’s own stock or
(y) an observable index, other than an index calculated measured solely by reference to Counterparty’s own operations) and, if so, will (i) make appropriate adjustment(s), if any, determined in a commercially reasonable manner, to any
one or more of: and, the portion of such sentence immediately preceding clause (ii) thereof is hereby amended by deleting the words “diluting or concentrative” and the words “(provided that no adjustments will be made to
account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing such latter phrase with the words “(provided that, solely in the case of Sections 11.2(e)(i),
(ii)(A), (iv) and (v), no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares but, for the avoidance of doubt, solely in the case of Sections
11.2(e)(ii)(B) through (D), (iii) (vi) and (vii) adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)”; 

(iii) Section 11.2(a) of the Equity Definitions is hereby amended by (1) deleting the words “in the
determination of the Calculation Agent, a diluting or concentrative effect” and replacing these words with “in the commercially reasonable judgment of the Calculation Agent, a material economic effect”; and (2) adding at the end
thereof “; provided that such event is not based on (i) an observable market, other than the market for Counterpart’s own stock or (ii) an observable index, other than an index calculated measured solely by reference to
Counterparty’s own operations”; 
 (iv) Section 11.2(e)(vii) of the Equity Definitions is hereby amended and
restated as follows: “any other corporate event involving the Issuer that in the commercially reasonable judgment of the Calculation Agent has a material economic effect on the theoretical value of the Shares or options of the Shares;
provided that such corporate event involving the Issuer is not based on (a) an observable market, other than the market for Counterparty’s own stock or (b) an observable index, other than an index calculated measured solely by
reference to Counterparty’s own operations.”; and 
 (v) Section 12.7(b) of the Equity Definitions is hereby
amended by deleting the words “(and in any event within five Exchange Business Days) by the parties after” appearing after the words “agreed promptly” and replacing with the words “by the parties on or prior to”. 

(n) Governing Law. THE AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH THE AGREEMENT AND THIS CONFIRMATION
SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE, OTHER THAN TITLE 14 OF THE NEW YORK GENERAL OBLIGATIONS LAW). THE PARTIES HERETO IRREVOCABLY
SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS
CONTEMPLATED HEREBY. 
 (o) Adjustments. For the avoidance of doubt, whenever the Calculation Agent or Determining Party is called
upon to make an adjustment pursuant to the terms of this Confirmation or the Equity Definitions to take into account the effect of an event, the Calculation Agent or Determining Party shall make such adjustment by reference to the effect of such
event on the Hedging Party, assuming that the Hedging Party maintains a commercially reasonable hedge position. 

  
 20 

 (p) Delivery or Receipt of Cash. For the avoidance of doubt, other than payment of
the Premium by Counterparty, nothing in this Confirmation shall be interpreted as requiring Counterparty to cash settle the Transaction, except in circumstances where cash settlement is within Counterparty’s control (including, without
limitation, where Counterparty elects to deliver or receive cash) or in those circumstances in which holders of Shares would also receive cash. 

(q) Waiver of Jury Trial; Exclusive Jurisdiction. 

(i) EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS CONTEMPLATED HEREBY. 
 (ii) Section 13(b) of the
Agreement is deleted in its entirety and replaced by the following: 
 “Each party hereby irrevocably and unconditionally submits for
itself and its property in any suit, legal action or proceeding relating to this Confirmation or the Agreement, or for recognition and enforcement of any judgment in respect thereof (each, “Proceedings”), to the exclusive
jurisdiction of the Supreme Court of the State of New York, sitting in New York County, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof. Nothing in this Confirmation or the
Agreement precludes either party from bringing Proceedings in any other jurisdiction if (A) the courts of the State of New York or the United States of America for the Southern District of New York lack jurisdiction over the parties or the
subject matter of the Proceedings or decline to accept the Proceedings on the grounds of lacking such jurisdiction; (B) the Proceedings are commenced by a party for the purpose of enforcing against the other party’s property, assets or
estate any decision or judgment rendered by any court in which Proceedings may be brought as provided hereunder; (C) the Proceedings are commenced to appeal any such court’s decision or judgment to any higher court with competent appellate
jurisdiction over that court’s decisions or judgments if that higher court is located outside the State of New York or Borough of Manhattan, such as a federal court of appeals or the U.S. Supreme Court; or (D) any suit, action or
proceeding has been commenced in another jurisdiction by or against the other party or against its property, assets or estate and, in order to exercise or protect its rights, interests or remedies under this Confirmation or the Agreement, the party
(1) joins, files a claim, or takes any other action, in any such suit, action or proceeding, or (2) otherwise commences any Proceeding in that other jurisdiction as the result of that other suit, action or proceeding having commenced in
that other jurisdiction.” 
 (r) Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented,
except in a written instrument signed by Counterparty and Dealer.  
 (s) Counterparts. This Confirmation may be executed in
several counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  

(t) Tax Matters.  

(i) Payee Representations. 

For the purpose of Section 3(f) of the Agreement, Counterparty makes the following representation to Dealer: 

Counterparty is a corporation and a U.S. person (as that term is defined in Section 7701(a)(30) of the Code and used in Section 1.1441-4(a)(3)(ii) of the Treasury Regulations) for U.S. federal income tax purposes. 

  
 21 

 For the purpose of Section 3(f) of the Agreement, Dealer makes the following
representations to Counterparty: 
 [Dealer is a U.S. person (as that term is defined in Section 7701(a)(30) and used in Section 1.1441-4(a)(3)(ii) of the Treasury Regulations) for U.S. federal income tax purposes.]15 

(ii) Tax Documentation. For the purpose of Sections 4(a)(i) and (ii) of the Agreement, Counterparty agrees to
deliver to Dealer one duly executed and completed United States Internal Revenue Service Form W-9 (or successor thereto) and Dealer agrees to deliver to Counterparty, as applicable, a U.S. Internal Revenue
Service Form W-8 or Form W-9 (or successor thereto). Such forms or documents shall be delivered upon (i) execution of this Confirmation, (ii) Counterparty or
Dealer, as applicable, learning that any such tax form previously provided by it has become obsolete or incorrect, and (iii) reasonable request of the other party. 

(u) Withholding Tax imposed on payments to non-US counterparties under the United States Foreign
Account Tax Compliance Act. “Indemnifiable Tax”, as defined in Section 14 of the Agreement, shall not include any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or
future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered
into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law
for the purposes of Section 2(d) of the Agreement. 
 (v) HIRE Act. “Indemnifiable Tax”, as defined in Section 14
of the Agreement, shall not include any tax imposed on payments treated as dividends from sources within the United States under Section 871(m) of the Code or any regulations issued thereunder. For the avoidance of doubt, any such tax imposed
under Section 871(m) of the Code is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement. 

(w) [U.S. QFC Stay Rules.] 16 The parties agree that (i) to the extent that
prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms of the Protocol are incorporated into and form a part of this Confirmation, and for such purposes this
Confirmation shall be deemed a Protocol Covered Agreement, and each party shall be deemed to have the same status as Regulated Entity and/or Adhering Party as applicable to it under the Protocol; (ii) to the extent that prior to the date hereof
the parties have executed a separate agreement the effect of which is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral Agreement”), the terms of the
Bilateral Agreement are incorporated into and form a part of this Confirmation and each party shall be deemed to have the status of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable to it under the
Bilateral Agreement; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined terms (together, the “Bilateral Terms”) of the form of bilateral
template entitled “Full-Length Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018 ISDA U.S. Resolution Stay
Protocol page at www.isda.org and a copy of which is available upon request), the effect of which is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are hereby
incorporated into and form a part of this Confirmation, and for such purposes this Confirmation shall be deemed a “Covered Agreement,” Dealer shall be deemed a “Covered Entity” and Counterparty shall be deemed a
“Counterparty Entity.” In the event that, after the date of this Confirmation, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace the terms of this paragraph. In the event of any
inconsistencies between this Confirmation and the terms of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this paragraph
without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references to “this Confirmation” include any related credit enhancements entered into between the parties or provided by
one to the other. “QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to
limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation
Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the
transfer of any covered affiliate credit enhancements. 
  

	15 	 Include appropriate Payee Representation for Dealer 

	16 	 Include appropriate Resolution Stay provisions for Dealer

  
 22 

 “QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2,
252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the
override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements. 

(x) CARES Act. [Counterparty acknowledges that the Transaction may constitute a purchase of its equity securities. Counterparty further
acknowledges that, pursuant to the provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Counterparty would be required to agree to certain time-bound restrictions on its ability to purchase its
equity securities if it receives loans, loan guarantees or direct loans (as that term is defined in the CARES Act) under section 4003(b) of the CARES Act. Counterparty further acknowledges that it may be required to agree to certain time-bound
restrictions on its ability to purchase its equity securities if it receives loans, loan guarantees or direct loans (as that term is defined in the CARES Act) under programs or facilities established by the Board of Governors of the Federal Reserve
System for the purpose of providing liquidity to the financial system (together with loans, loan guarantees or direct loans under section 4003(b) of the CARES Act, “Governmental Financial Assistance”). Accordingly, Counterparty
represents and warrants that it has not applied for, and has no present intention to apply, prior to the termination or settlement of this Transaction, has no intention to apply for Governmental Financial Assistance under any governmental program or
facility that (a) is established under the CARES Act or the Federal Reserve Act, as amended, and (b) requires, as a condition of such Governmental Financial Assistance, that Counterparty agree, attest, certify or warrant that it has not,
as of the date specified in such condition, repurchased, or will not repurchase, any equity security of Counterparty.]17 

(y) [Role of Agent]. Insert Dealer Agent or communications with employee provisions, if applicable. 

(z) [Dealer Boilerplate]. Insert additional Dealer specific terms, if applicable. 

 

	17 	 Include appropriate CARES Act representation for Dealer. 

  
 23 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by sending
to us a letter or telex substantially similar to this facsimile, which letter or telex sets forth the material terms of the Transaction to which this Confirmation relates and indicates your agreement to those terms. 

 

			
	Yours faithfully,
	
	[DEALER]
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:
	
	[[____________________],
		 	acting solely as Agent in connection with the Transaction
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:]

  
 24 

			
		 	Agreed and Accepted By:
		
		 	BOX, INC.
		
	By	 	  

		 	Name: Dylan Smith
		 	Title: Chief Financial Officer

  
 25 

 Schedule 1 

[Form of Guarantee] 

  
 26 

 Annex A 

For each Component of the Transaction, the Number of Options and Expiration Date is set forth below. 

 

					
	 Component Number
	  	 Number of Options
	  	 Expiration Date

	1	  		  	
	2	  		  	
	3	  		  	
	4	  		  	
	5	  		  	
	6	  		  	
	7	  		  	
	8	  		  	
	9	  		  	
	10	  		  	
	11	  		  	
	12	  		  	
	13	  		  	
	14	  		  	
	15	  		  	
	16	  		  	
	17	  		  	
	18	  		  	
	19	  		  	
	20	  		  	
	21	  		  	
	22	  		  	
	23	  		  	
	24	  		  	
	25	  		  	
	26	  		  	
	27	  		  	
	28	  		  	
	29	  		  	
	30	  		  	
	31	  		  	
	32	  		  	
	33	  		  	
	34	  		  	
	35	  		  	
	36	  		  	
	37	  		  	
	38	  		  	
	39	  		  	
	40	  		  	

  
 27 

 Annex B 

Form of Opinion 
  

	 	1.	 The Counterparty has been duly incorporated and is an existing corporation in good standing under the laws of
the State of Delaware. 

  

	 	2.	 The Counterparty is duly qualified as a foreign corporation for the transaction of business and is in good
standing in the State of California. 

  

	 	3.	 The Confirmation has been duly authorized, executed and delivered by the Counterparty and, assuming the due
authorization, execution and delivery thereof by Dealer, the Confirmation constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. 

 

	 	4.	 The execution and delivery by the Counterparty of the Confirmation, and the undertaking by the Counterparty of
its obligations under the Confirmation and the consummation of the transactions therein contemplated do not violate, will not result in any violation by the Counterparty of its Certificate of Incorporation or its Bylaws. 

 

	 	5.	 The execution and delivery by the Counterparty of the Confirmation, and the undertaking by the Counterparty of
its obligations under the Confirmation and the consummation of the transactions therein contemplated, will not constitute a violation of, or a default under, any material agreement of the Counterparty. 

  
 28Exhibit 4.2

 

Reed’s
Inc. 2020 Equity Incentive Plan

 

1.
Purpose of the Plan

 

This
Plan is intended to promote the interests of the Company (as defined below) and its shareholders by providing employees,
non-employee directors, consultants, and other selected service providers of the Company, who are largely responsible for the
management, growth, and protection of the business of the Company, with incentives and rewards to encourage them to continue in
the service of the Company.

 

2.
Definitions

 

As
used in the Plan or in any instrument governing the terms of any award granted under the Plan, the following definitions apply
to the terms indicated below:

 

(a)
“Award Agreement” means a written agreement, in a form determined by the Committee from time to time, entered into
by each Participant and the Company, evidencing the grant of a Stock Incentive Award under the Plan.

 

(b)
“Board of Directors” means the Board of Directors of Reed’s Inc., a Delaware corporation.

 

(c)
“Change in Control” means (i) any one person, or more than one person acting as a group (as defined under Treasury
Regulation § 1.409A-3(i)(5)(v)(B)) acquires ownership of stock of the Company that, together with stock held by such person
or group, constitutes more than fifty percent of the total fair market value or total Voting Power of the stock of the Company;
or (ii) any one person, or more than one person acting as a group (as defined under Treasury Regulation § 1.409A-3(i)(5)(v)(B))
acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or persons)
ownership of stock of the Company possessing thirty percent or more of the total Voting Power of the stock of the Company; or
(iii) a majority of members of the Board of Directors is replaced during any twelve-month period by directors whose appointment
or election is not endorsed by a majority of the members of the Board of Directors before the date of each appointment or election;
or (iv) any one person, or more than one person acting as a group (as defined in Treasury Regulation § 1.409A-3(i)(5)(v)(B))
acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or persons)
assets from the Company that have a total gross fair market value equal to or more than forty percent of the total gross fair
market value of all of the assets of the Company immediately before such acquisition or acquisitions. For purposes of subsection
(iv), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined
without regard to any liabilities associated with such assets. The foregoing subsections (i) through (iv) shall be interpreted
in a manner that is consistent with the Treasury Regulations promulgated pursuant to section 409A of the Code so that all, and
only, such transactions or events that could qualify as a “change-in-control event” within the meaning of Treasury
Regulation §1.409A-3(i)(5)(i) will be deemed to be a Change in Control for purposes of this Plan.

 

(d)
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and all regulations, interpretations,
and administrative guidance issued thereunder.

 

(e)
“Committee” means the Compensation Committee of the Board of Directors or such other committee as the Board of Directors
shall appoint from time to time to administer the Plan and to otherwise exercise and perform the authority and functions assigned
to the Committee under the terms of the Plan.

 

(f)
“Common Stock” means Reed’s Inc. common stock, $0.0001 par value per share, or any other security into which
the common stock shall be changed pursuant to the adjustment provisions of Section 9. of the Plan.

 

(g)
“Company” means Reed’s Inc., a Delaware corporation (and any successor thereto).

 

(h)
“Effective Date” means September 16, 2020.

 

(i)
“Employment” means the period during which an individual is classified or treated by the Company as an employee, non-employee
director, consultant, or other service provider of the Company, as applicable.

 

(j)
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

    	 

     

    

 

(k)
“Fair Market Value” means, with respect to a share of Common Stock, as of the applicable date of determination or
if the market is not open for trading on such date, the immediately preceding day on which the market is open for trading, the
closing price as reported on the date of determination on the principal securities exchange on which shares of Common Stock are
then listed or admitted to trading (or if shares of Common Stock are then principally traded on a national securities exchange,
in the reported “composite transactions” for such exchange). In the event that the price of a share of Common Stock
shall not be so reported, the Fair Market Value of a share of Common Stock shall be determined by the Committee in its sole discretion.

 

(l)
“Option” means a stock option to purchase shares of Common Stock granted to a Participant pursuant to Section
6.

 

(m)
“Other Stock-Based Award” means an award granted to a Participant pursuant to Section 7.

 

(n)
“Participant” means an employee, consultant or director of the Company who is eligible to participate in the Plan
and to whom one or more Stock Incentive Awards have been granted pursuant to the Plan and have not been fully settled or cancelled
and, following the death of any such Person, his successors, heirs, executors, and administrators, as the case may be.

 

(o)
“Person” means a “person” as such term is used in section 13(d) and 14(d) of the Exchange Act, including
any “group” within the meaning of section 13(d)(3) under the Exchange Act.

 

(p)
“Plan” means the 2020 Reed’s Inc. Equity Incentive Plan, as it may be amended from time to time.

 

(q)
“Securities Act” means the Securities Act of 1933, as amended.

 

(r)
“Stock Incentive Award” means an Option or Other Stock-Based Award granted pursuant to the terms of the Plan.

 

(s)
“Voting Power” means the number of votes available to be cast (determined by reference to the maximum number of votes
entitled to be cast by the holders of Voting Securities, or by the holders of any Voting Securities for which other Voting Securities
may be convertible, exercisable, or exchangeable, upon any matter submitted to shareholders where the holders of all Voting Securities
vote together as a single class) by the holders of Voting Securities.

 

(t)
“Voting Securities” means any securities or other ownership interests of an entity entitled, or which may be entitled,
to matters submitted to Persons holding such securities or other ownership interests in such entity generally (whether or not
entitled to vote in the general election of directors), or securities or other ownership interests which are convertible into,
or exercisable in exchange for, such Voting Securities, whether or not subject to the passage of time or any contingency.

 

3.
Stock Subject to the Plan

 

(a)
Stock Subject to the Plan

 

The
maximum number of shares of Common Stock that may be covered by Stock Incentive Awards granted under the Plan shall not exceed
8,500,000 shares of Common Stock in the aggregate. Out of such aggregate, the maximum number of shares of Common Stock that may
be covered by Options that are designated as “incentive stock options” within the meaning of section 422 of the Code
shall not exceed 8,000,0000 shares of Common Stock. The maximum number of shares referred to in the preceding sentences of this
Section 3.(a) shall in each case be subject to adjustment as provided in Section 9. and the following provisions of this Section
3. Of the shares described, one hundred percent may be delivered in connection with “full-value Awards,” meaning Stock
Incentive Awards other than Options or stock appreciation rights. Any shares granted under Options or stock appreciation rights
shall be counted against the share limit on a one-for-one basis and any shares granted as full-value Stock Incentive Awards shall
be counted against the share limit on a one-for-one basis. Shares of Common Stock issued under the Plan may be authorized and
unissued shares, treasury shares, shares purchased by the Company in the open market, or any combination of the preceding categories
as the Committee determines in its sole discretion.

 

    	 

     

    

 

For
purposes of the preceding paragraph, shares of Common Stock covered by Stock Incentive Awards shall only be counted as used to
the extent they are actually issued and delivered to a Participant (or such Participant’s permitted transferees as described
in the Plan) pursuant to the Plan; provided, however, that if a Stock Incentive Award is settled for cash or if shares of Common
Stock are withheld to pay the exercise price of an Option or to satisfy any tax withholding requirement in connection with a Stock
Incentive Award, the shares issued (if any) in connection with such settlement, the shares in respect of which the Stock Incentive
Award was cash-settled, and the shares withheld, will be deemed delivered for purposes of determining the number of shares of
Common Stock that are available for delivery under the Plan. In addition, if shares of Common Stock are issued subject to conditions
which may result in the forfeiture, cancellation, or return of such shares to the Company, any portion of the shares forfeited,
cancelled or returned shall be treated as not issued pursuant to the Plan. In addition, if shares of Common Stock owned by a Participant
(or such Participant’s permitted transferees as described in the Plan) are tendered (either actually or through attestation)
to the Company in payment of any obligation in connection with a Stock Incentive Award, the number of shares tendered shall be
added to the number of shares of Common Stock that are available for delivery under the Plan.

 

Shares
of Common Stock covered by Stock Incentive Awards granted pursuant to the Plan in connection with the assumption, replacement,
conversion, or adjustment of outstanding equity-based awards in the context of a corporate acquisition or merger (within the meaning
of Nasdaq Listing Rule 5635) shall not count as used under the Plan for purposes of this Section 3.

 

(b)
Individual Award Limits

 

Subject
to adjustment as provided in Section 8., the maximum number of shares of Common Stock that may be covered by Stock Incentive Awards
granted under the Plan to any Participant in any calendar year shall not exceed 2,000,000 shares.

 

(c)
Non-Employee Director Limits

 

Subject
to adjustment as provided in Section 8., the maximum number of shares of Common Stock that may be covered by Stock Incentive Awards
granted under the Plan to any non-employee director in any calendar year shall not exceed 500,000 shares.

 

 

4.
Administration of the Plan

 

The
Plan shall be administered by a Committee of the Board of Directors consisting of two or more persons, each of whom qualifies
as a “non-employee director” (within the meaning of Rule 16b-3 promulgated under section 16 of the Exchange Act) and
as “independent” as required by Nasdaq or any security exchange on which the Common Stock is listed, in each case
if and to the extent required by applicable law or necessary to meet the requirements of such rule, section or listing requirement
at the time of determination. The Committee shall, consistent with the terms of the Plan, from time to time designate those individuals
who shall be granted Stock Incentive Awards under the Plan and the amount, type, and other terms and conditions of such Stock
Incentive Awards. All of the powers and responsibilities of the Committee under the Plan may be delegated by the Committee, in
writing, to any subcommittee thereof, in which case the acts of such subcommittee shall be deemed to be acts of the Committee
hereunder. The Committee may also from time to time authorize a subcommittee consisting of one or more members of the Board of
Directors (including members who are employees of the Company) or employees of the Company to grant Stock Incentive Awards to
persons who are not “executive officers” of the Company (within the meaning of Rule 16a-1 under the Exchange Act),
subject to such restrictions and limitations as the Committee may specify and to the requirements of section 157 of the Delaware
General Corporation Law.

 

    	 

     

    

 

The
Committee shall have full discretionary authority to administer the Plan, including discretionary authority to interpret and construe
any and all provisions of the Plan and any Award Agreement thereunder, and to adopt, amend, and rescind from time to time such
rules and regulations for the administration of the Plan, including rules and regulations related to sub-plans established for
the purpose of satisfying applicable foreign laws and/or qualifying for preferred tax treatment under applicable foreign tax laws,
as the Committee may deem necessary or appropriate. Decisions of the Committee shall be final, binding, and conclusive on all
parties. For the avoidance of doubt, the Committee may exercise all discretion granted to it under the Plan in a non-uniform manner
among Participants.

 

The
Committee may delegate the administration of the Plan to one or more officers or employees of the Company, and such administrator(s)
may have the authority to execute and distribute Award Agreements, to maintain records relating to Stock Incentive Awards, to
process or oversee the issuance of Common Stock under Stock Incentive Awards, to interpret and administer the terms of Stock Incentive
Awards, and to take such other actions as may be necessary or appropriate for the administration of the Plan and of Stock Incentive
Awards under the Plan, provided that in no case shall any such administrator be authorized (i) to grant Stock Incentive Awards
under the Plan (except in connection with any delegation made by the Committee pursuant to the first paragraph of this Section
4.), (ii) to take any action inconsistent with section 409A of the Code, or (iii) to take any action inconsistent with applicable
provisions of the Delaware General Corporation Law. Any action by any such administrator within the scope of its delegation shall
be deemed for all purposes to have been taken by the Committee and, except as otherwise specifically provided, references in this
Plan to the Committee shall include any such administrator. The Committee and, to the extent it so provides, any subcommittee,
shall have sole authority to determine whether to review any actions and/or interpretations of any such administrator, and if
the Committee shall decide to conduct such a review, any such actions and/or interpretations of any such administrator shall be
subject to approval, disapproval, or modification by the Committee.

 

On
or after the date of grant of an Incentive Award under the Plan, the Committee may (i) accelerate the date on which any such Incentive
Award becomes vested, exercisable or transferable, as the case may be, (ii) extend the term of any such Incentive Award, including,
without limitation, extending the period following a termination of a Participant’s Employment during which any such Incentive
Award may remain outstanding, (iii) waive any conditions to the vesting, exercisability or transferability, as the case may be,
of any such Incentive Award or (iv) provide for the payment of dividends or dividend equivalents with respect to any such Incentive
Award; provided, that the Committee shall not have any such authority to the extent that the grant of such authority would cause
any tax to become due under Section 409A of the Code. Notwithstanding anything herein to the contrary, the Company shall not reprice
any stock option (within the meaning of Nasdaq Listing Rule 5635(c) and any other formal or informal guidance issued by Nasdaq)
without the approval of the shareholders of the Company, nor shall the Company purchase any underwater options for cash. No member
of the Committee shall be liable for any action, omission, or determination relating to the Plan, and the Company shall indemnify
and hold harmless each member of the Committee and each other director or employee of the Company to whom any duty or power relating
to the administration or interpretation of the Plan has been delegated, against any cost or expense (including counsel fees) or
liability (including any sum paid in settlement of a claim with the approval of the Committee) arising out of any action, omission,
or determination relating to the Plan, unless, in either case, such action, omission, or determination was taken or made by such
member, director, or employee in bad faith and without reasonable belief that it was in the best interests of the Company.

 

5.
Eligibility

 

The
Persons who shall be eligible to receive Stock Incentive Awards pursuant to the Plan shall be those employees non-employee directors,
consultants and other selected service providers of the Company whom the Committee shall select from time to time, including officers
of the Company, whether or not they are directors. Each Stock Incentive Award granted under the Plan shall be evidenced by an
Award Agreement.

 

    	 

     

    

 

6.
Options

 

The
Committee may from time to time grant Options on such terms as it shall determine, subject to the terms and conditions set forth
in the Plan. The Award Agreement shall clearly identify such Option as either an “incentive stock option” within the
meaning of section 422 of the Code or as a non-qualified stock option.

 

(a)
Exercise Price

 

The
exercise price per share of Common Stock covered by any Option shall be not less than one hundred percent of the Fair Market Value
of a share of Common Stock on the date on which such Option is granted, other than assumptions in accordance with a corporate
acquisition or merger as described in Section 3.

 

(b)
Term and Exercise of Options

 

(1)
Each Option shall become vested and exercisable on such date or dates, during such period and for such number of shares of Common
Stock as shall be determined by the Committee on or after the date such Option is granted, subject to Approval as provided in
Section 21.; provided, further that no Option shall be exercisable after the expiration of ten years from the date such
Option is granted; and, provided, further, that each Option shall be subject to earlier termination, expiration,
or cancellation as provided in the Plan or the Award Agreement.

 

(2)
Each Option shall be exercisable in whole or in part; provided, however that no partial exercise of an Option shall
be for an aggregate exercise price of less than $1,000. The partial exercise of an Option shall not cause the expiration, termination,
or cancellation of the remaining portion thereof.

 

(3)
An Option shall be exercised by such methods and procedures as the Committee determines from time to time, including without limitation
through net physical settlement or other method of cashless exercise.

 

(c)
Special Rules for Incentive Stock Options

 

(1)
The aggregate Fair Market Value of shares of Common Stock with respect to which “incentive stock options” (within
the meaning of section 422 of the Code) are exercisable for the first time by a Participant during any calendar year under the
Plan and any other stock option plan of the Company or any of its “subsidiaries” (within the meaning of section 424
of the Code) shall not exceed $100,000. Such Fair Market Value shall be determined as of the date on which each such stock option
is granted. In the event that the aggregate Fair Market Value of shares of Common Stock with respect to such incentive stock options
exceeds $100,000, then incentive stock options granted hereunder to such Participant shall, to the extent and in the order required
by regulations promulgated under the Code (or any other authority having the force of regulations), automatically be deemed to
be non-qualified stock options, but all other terms and provisions of such stock options shall remain unchanged. In the absence
of such regulations (and authority), or in the event such regulations (or authority) require or permit a designation of the Options
which shall cease to constitute incentive stock options, incentive stock options granted hereunder shall, to the extent of such
excess and in the order in which they were granted, automatically be deemed to be non-qualified stock options, but all other terms
and provisions of such stock options shall remain unchanged.

 

(2)
Incentive stock options may only be granted to individuals who are employees of the Company. No incentive stock option may be
granted to an individual if, at the time of the proposed grant, such individual owns stock possessing more than ten percent of
the total combined Voting Power of all classes of stock of the Company or any of its “subsidiaries” (within the meaning
of section 424 of the Code), unless (i) the exercise price of such incentive stock option is at least 110 percent of the Fair
Market Value of a share of Common Stock at the time such incentive stock option is granted and (ii) such incentive stock option
is not exercisable after the expiration of five years from the date such incentive stock option is granted.

 

    	 

     

    

 

7.
Other Stock-Based Awards

 

The
Committee may from time to time grant equity-based or equity-related awards not otherwise described herein in such amounts and
on such terms as it shall determine, subject to the terms and conditions set forth in the Plan, including Approval requirement
set forth in Section 21. Without limiting the generality of the preceding sentence, each such Other Stock-Based Award may (i)
involve the transfer of actual shares of Common Stock to Participants, either at the time of grant or thereafter, or payment in
cash or otherwise of amounts based on the value of shares of Common Stock, (ii) be subject to performance-based and/or service-based
conditions, (iii) be in the form of stock appreciation rights, phantom stock, restricted stock, restricted stock units, performance
shares, deferred share units, or share-denominated performance units, and (iv) be designed to comply with applicable laws of jurisdictions
other than the United States; provided, that each Other Stock-Based Award shall be denominated in, or shall have a value
determined by reference to, a number of shares of Common Stock that is specified at the time of the grant of such Stock Incentive
Award.

 

8.
Adjustment upon Certain Changes

 

Subject
to any action by the shareholders of Company required by law, applicable tax rules or the rules of any exchange on which shares
of common stock of Company are listed for trading:

 

(a)
Shares Available for Grants

 

In
the event of any change in the number of shares of Common Stock outstanding by reason of any stock dividend or split, recapitalization,
merger, consolidation, combination, or exchange of shares or similar corporate change, the maximum aggregate number or type of
shares of Common Stock with respect to which the Committee may grant Stock Incentive Awards, the maximum number of shares of Common
Stock that may be covered by Options that are designated as “incentive stock options” within the meaning of section
422 of the Code and the maximum aggregate number of shares of Common Stock with respect to which the Committee may grant Stock
Incentive Awards to any individual Participant in any year and to any non-employee director shall be appropriately adjusted or
substituted by the Committee. In the event of any change in the type or number of shares of Common Stock of Company outstanding
by reason of any other event or transaction, the Committee shall, to the extent deemed appropriate by the Committee, make such
adjustments to the type or number of shares of Common Stock with respect to which Stock Incentive Awards may be granted.

 

(b)
Increase or Decrease in Issued Shares Without Consideration

 

In
the event of any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision or consolidation
of shares of Common Stock or the payment of a stock dividend (but only on the shares of Common Stock), or any other increase or
decrease in the number of such shares effected without receipt or payment of consideration by the Company, the Committee shall,
to the extent deemed appropriate by the Committee, adjust the type or number of shares of Common Stock subject to each outstanding
Stock Incentive Award and the exercise price per share of Common Stock of each such Stock Incentive Award.

 

(c)
Certain Mergers and Other Transactions

 

In
the event of any merger, consolidation, or similar transaction as a result of which the holders of shares of Common Stock receive
consideration consisting exclusively of securities of the surviving corporation in such transaction, the Committee shall, to the
extent deemed appropriate by the Committee, adjust each Stock Incentive Award outstanding on the date of such merger or consolidation
so that it pertains and applies to the securities which a holder of the number of shares of Common Stock subject to such Stock
Incentive Award would have received in such merger or consolidation.

 

    	 

     

    

 

In
the event of (i) a dissolution or liquidation of Company, (ii) a sale of all or substantially all of the Company’s assets
(on a consolidated basis), (iii) a merger, consolidation, or similar transaction involving Company in which the holders of shares
of Common Stock receive securities and/or other property, including cash, the Committee shall, to the extent deemed appropriate
by the Committee, have the power to:

 

(i)
cancel, effective immediately prior to the occurrence of such event, each Stock Incentive Award (whether or not then exercisable
or vested), and, in full consideration of such cancellation, pay to the Participant to whom such Stock Incentive Award was granted
an amount in cash, for each share of Common Stock subject to such Stock Incentive Award, equal to the value, as determined by
the Committee, of such Stock Incentive Award, provided that with respect to any outstanding Option such value shall be equal to
the excess of (A) the value, as determined by the Committee, of the property (including cash) received by the holder of a share
of Common Stock as a result of such event over (B) the exercise price of such Option; or

 

(ii)
provide for the exchange of each Stock Incentive Award (whether or not then exercisable or vested) for a Stock Incentive Award
with respect to (A) some or all of the property which a holder of the number of shares of Common Stock subject to such Stock Incentive
Award would have received in such transaction or (B) securities of the acquiror or surviving entity and, incident thereto, make
an equitable adjustment as determined by the Committee in the exercise price of the Stock Incentive Award, or the number of shares
or amount of property subject to the Stock Incentive Award or provide for a payment (in cash or other property) to the Participant
to whom such Stock Incentive Award was granted in partial consideration for the exchange of the Stock Incentive Award.

 

(d)
Other Changes

 

In
the event of any change in the capitalization of Company, corporate change, corporate transaction or other event other than those
specifically referred to in Sections 9(a), (b) or (c), the Committee shall, to the extent deemed appropriate by the Committee,
make such adjustments in the number and class of shares subject to Stock Incentive Awards outstanding on the date on which such
change occurs and in such other terms of such Stock Incentive Awards as the Committee deems appropriate.

 

(e)
No Other Rights

 

Except
as expressly provided in the Plan or any Award Agreement, no Participant shall have any rights by reason of any subdivision or
consolidation of shares of stock of any class, the payment of any dividends or dividend equivalents, any increase or decrease
in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any
other corporation. Except as expressly provided in the Plan, no issuance by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to,
the number of shares or amount of other property subject to, or the terms related to, any Stock Incentive Award.

 

(f)
Savings Clause

 

No
provision of this Section 8. shall be given effect to the extent that such provision would cause any tax to become due under section
409A of the Code.

 

9.
Change in Control; Termination of Employment

 

(a)
Change in Control

 

Unless
otherwise provided in an Award Agreement, in the event of a Change in Control of the Company to the extent the successor company
does not assume or substitute for a Stock Incentive Award (or in which the Company is the ultimate parent corporation and does
not continue the Stock Incentive Award), then immediately prior to the Change in Control: (i) those Options and stock appreciation
rights outstanding as of the date of the Change in Control that are not assumed or substituted for (or continued) shall immediately
vest and become fully exercisable, and (ii) the restrictions, other limitations and other conditions applicable to any Other Stock-Based
Awards or any other Awards that are not assumed or substituted for (or continued) shall lapse, and such Other Stock-Based Awards
or such other Awards shall become free of all restrictions, limitations, and conditions and become fully vested and transferable
to the full extent of the original grant.

 

    	 

     

    

 

(b)
Termination of Employment

 

(1)
Except as to any awards constituting stock rights subject to section 409A of the Code, termination of Employment shall mean a
separation from service within the meaning of section 409A of the Code, unless the Participant is retained as a consultant pursuant
to a written agreement and such agreement provides otherwise. Without limiting the generality of the foregoing, the Committee
shall determine whether an authorized leave of absence, or absence in military or government service, shall constitute termination
of Employment, provided that a Participant who is an employee will not be deemed to cease employment in the case of any leave
of absence approved by the Company. Furthermore, no payment shall be made with respect to any Stock Incentive Awards under the
Plan that are subject to section 409A of the Code as a result of any such authorized leave of absence or absence in military or
government service unless such authorized leave or absence constitutes a separation from service for purposes of section 409A
of the Code and the regulations promulgated thereunder.

 

(2)
The Award Agreement shall specify the consequences with respect to such Stock Incentive Awards of the termination of Employment
of the Participant holding the Stock Incentive Awards.

 

(3)
A Participant who ceases to be an employee of the Company but continues, or simultaneously commences, services as a director of
the Company shall be deemed to continue Employment for purposes of the Plan.

 

10.
Rights Under the Plan

 

No
Person shall have any rights as a shareholder with respect to any shares of Common Stock covered by or relating to any Stock Incentive
Award until the date of the issuance of such shares on the books and records of the Company Except as otherwise expressly provided
in Section 8. hereof, no adjustment of any Stock Incentive Award shall be made for dividends or other rights for which the record
date occurs prior to the date of such issuance. Nothing in this Section 10. is intended, or should be construed, to limit authority
of the Committee to cause the Company to make payments based on the dividends that would be payable with respect to any share
of Common Stock if it were issued or outstanding, or from granting rights related to such dividends.

 

The
Company shall not have any obligation to establish any separate fund or trust or other segregation of assets to provide for payments
under the Plan. To the extent any person acquires any rights to receive payments hereunder from the Company, such rights shall
be no greater than those of an unsecured creditor.

 

11.
No Special Employment Rights; No Right to Stock Incentive Awards

 

(a)
Nothing contained in the Plan or any Award Agreement shall confer upon any Participant any right with respect to the continuation
of his or her Employment by the Company or interfere in any way with the right of the Company at any time to terminate such Employment
or to increase or decrease the compensation of the Participant from the rate in existence at the time of the grant of a Stock
Incentive Award.

 

(b)
No person shall have any claim or right to receive a Stock Incentive Award hereunder. The Committee’s granting of a Stock
Incentive Award to a Participant at any time shall neither require the Committee to grant a Stock Incentive Award to such Participant
or any other Participant or other person at any time nor preclude the Committee from making subsequent grants to such Participant
or any other Participant or other person.

 

12.
Securities Matters

 

(a)
The Company shall be under no obligation to affect the registration pursuant to the Securities Act of any shares of Common Stock
to be issued hereunder or to effect similar compliance under any state or local laws. Notwithstanding anything herein to the contrary,
the Company shall not be obligated to cause to be issued shares of Common Stock pursuant to the Plan unless and until the Company
is advised by its counsel that the issuance is in compliance with all applicable laws, regulations of governmental authority,
and the requirements of any securities exchange on which shares of Common Stock are traded. The Committee may require, as a condition
to the issuance of shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such covenants,
agreements, and representations, and that any related certificates representing such shares bear such legends, as the Committee,
in its sole discretion, deems necessary or desirable.

 

    	 

     

    

 

(b)
The exercise or settlement of any Stock Incentive Award (including, without limitation, any Option) granted hereunder shall only
be effective at such time as counsel to Company shall have determined that the issuance and delivery of shares of Common Stock
pursuant to such exercise is in compliance with all applicable laws, regulations of governmental authority, and the requirements
of any securities exchange on which shares of Common Stock are traded. Company may, in its sole discretion, defer the effectiveness
of any exercise or settlement of a Stock Incentive Award granted hereunder in order to allow the issuance of shares pursuant thereto
to be made pursuant to registration or an exemption from registration or other methods for compliance available under federal
or state or local securities laws. Company shall inform the Participant in writing of its decision to defer the effectiveness
of the exercise or settlement of a Stock Incentive Award granted hereunder. During the period that the effectiveness of the exercise
of a Stock Incentive Award has been deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund
of any amount paid with respect thereto.

 

13.
Withholding Taxes

 

(a)
Cash Remittance

 

Whenever
withholding tax obligations are incurred in connection with any Stock Incentive Award, the Company shall have the right to require
the Participant to remit to the Company in cash an amount sufficient to satisfy federal, state, and local withholding tax requirements,
if any, attributable to such event. In addition, upon the exercise or settlement of any Stock Incentive Award in cash, or the
making of any other payment with respect to any Stock Incentive Award (other than in shares of Common Stock), the Company shall
have the right to withhold from any payment required to be made pursuant thereto an amount sufficient to satisfy the federal,
state, and local withholding tax requirements, if any, attributable to such exercise, settlement, or payment.

 

(b)
Stock Remittance

 

At
the election of the Participant, subject to the approval of the Committee, whenever withholding tax obligations are incurred in
connection with any Stock Incentive Award, the Participant may tender to the Company (including by attestation) a number of shares
of Common Stock having a Fair Market Value at the tender date determined by the Committee to be sufficient to satisfy the minimum
federal, state, and local withholding tax requirements, if any, attributable to such event. Such election shall satisfy the Participant’s
obligations under Section 13.(a) hereof, if any.

 

(c)
Stock Withholding

 

At
the election of the Participant, subject to the approval of the Committee, whenever withholding tax obligations are incurred in
connection with any Stock Incentive Award, the Company shall withhold a number of such shares having a Fair Market Value determined
by the Committee to be sufficient to satisfy the minimum federal, state, and local withholding tax requirements, if any, attributable
to such event. Such election shall satisfy the Participant’s obligations under Section 13.(a) hereof, if any.

 

14.
No Obligation to Exercise

 

The
grant to a Participant of a Stock Incentive Award shall impose no obligation upon such Participant to exercise such Stock Incentive
Award.

 

    	 

     

    

 

15.
Transfers

 

Stock
Incentive Awards may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will
or by the laws of descent or distribution and may be exercised, during the lifetime of a Participant, only by the Participant;
provided, however that the Committee may permit Options or other Stock Incentive Awards that are not incentive stock
options to be sold, pledged, assigned, hypothecated, transferred, or disposed of, on a general or specific basis, subject to such
conditions and limitations as the Committee may determine. Upon the death of a Participant, outstanding Stock Incentive Awards
granted to such Participant may be exercised only by the executors or administrators of the Participant’s estate or by any
person or persons who shall have acquired such right to exercise by will or by the laws of descent and distribution. No transfer
by will or the laws of descent and distribution of any Stock Incentive Award, or the right to exercise any Stock Incentive Award,
shall be effective to bind the Company unless the Committee shall have been furnished with (a) written notice thereof and with
a copy of the will and/or such evidence as the Committee may deem necessary to establish the validity of the transfer and (b)
an agreement by the transferee to comply with all the terms and conditions of the Stock Incentive Award that are or would have
been applicable to the Participant and to be bound by the acknowledgements made by the Participant in connection with the grant
of the Stock Incentive Award.

 

16.
Expenses and Receipts

 

The
expenses of the Plan shall be paid by the Company. Any proceeds received by the Company in connection with any Stock Incentive
Award will be used for general corporate purposes.

 

17.
Failure to Comply

 

In
addition to the remedies of the Company elsewhere provided for herein, failure by a Participant to comply with any of the terms
and conditions of the Plan or any Award Agreement, unless such failure is remedied by such Participant within ten days after having
been notified of such failure by the Committee, shall be grounds for the cancellation and forfeiture of such Stock Incentive Award,
in whole or in part, as the Committee, in its absolute discretion, may determine.

 

18.
Relationship to Other Benefits

 

No
payment with respect to any Stock Incentive Awards under the Plan shall be taken into account in determining any benefits under
any pension, retirement, profit sharing, group insurance, or other benefit plan of the Company except as otherwise specifically
provided in such other plan.

 

19.
Governing Law

 

The
Plan and the rights of all persons under the Plan shall be construed and administered in accordance with the laws of the State
of Delaware without regard to its conflict of law principles.

 

20.
Severability

 

If
all or any part of this Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or
invalidity shall not serve to invalidate any portion of this Plan not declared to be unlawful or invalid. Any Section or part
of a Section so declared to be unlawful or invalid shall, if possible, be construed in a manner that will give effect to the terms
of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.

 

21.
Effective Date and Term of Plan

 

The
Effective Date of the Plan is September 16, 2020, subject to the approval of the Plan by the shareholders of Company within 12
months of the Effective Date (“Approval”). Only Options may be granted prior to Approval, provided no Option granted
prior to Approval may be exercisable, in whole or in part, prior to Approval, and the Plan will be unwound, and all outstanding
Options forfeited and cancelled, if Approval is not obtained. No grants of Stock Incentive Awards may be made under the Plan after
September 16, 2030.

 

    	 

     

    

 

22.
Amendment or Termination of the Plan

 

The
Board of Directors may at any time suspend or discontinue the Plan or revise or amend it or any Stock Incentive Award in any respect
whatsoever; provided, however, that to the extent that any applicable law, tax requirement, or rule of a stock exchange
requires shareholder approval in order for any such revision or amendment to be effective, such revision or amendment shall not
be effective without such approval. The preceding sentence shall not restrict the Committee’s ability to exercise its discretionary
authority hereunder pursuant to Section 4. hereof, which discretion may be exercised without amendment to the Plan. No provision
of this Section 22. shall be given effect to the extent that such provision would cause any tax to become due under section 409A
of the Code. Except as expressly provided in the Plan, no action hereunder may, without the consent of a Participant, adversely
affect the Participant’s rights under any previously granted and outstanding Stock Incentive Award. Nothing in the Plan
shall limit the right of the Company to pay compensation of any kind outside the terms of the Plan.

 

23.
Recoupment

 

Notwithstanding
anything in the Plan or in any Award Agreement to the contrary, the Company will be entitled to the extent permitted or required
by applicable law, Company policy and/or the requirements of an exchange on which the Company’s shares are listed for trading,
in each case, as in effect from time to time to recoup compensation of whatever kind paid by the Company at any time to a Participant
under this Plan.

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