Document:

Avago FY 2010 Performance Bonus Plan

 Exhibit 10.1 

 

 

 Avago Performance Bonus (“APB”) 

FY2010 Plan Document 
  

			
	 Document: Annual Performance Bonus
	 	 Applicability: Regular exempt,non-exempt,

non-commissioned, non-bargaining unit employees

	 Approved: December 1, 2009
	 	Effective Date: November 1, 2009
	 Re-Approve:
	 	Review date: Annual

 Purpose 

The purpose and scope of the Avago Performance Bonus Plan Document is to define the process of the award annual incentive bonus and to ensure that the
parameters are managed consistently across the Avago Technologies (the “Company”). 
 Introduction 

The Company has established the Avago Performance Bonus (“Program”) for eligible Employees. The objectives of this discretionary Program are to:

  

	 	•	 	 Share the success of the company 

  

	 	•	 	 Reward employees for outstanding business results, 

  

	 	•	 	 Foster teamwork, and 

  

	 	•	 	 Retain employees 

Program Period 
 Incentive awards under
the Program are based on Corporate performance and Business Division or Function performance measured against predetermined targets for each Program Period. The Program Period begins on the first day of each fiscal year and ends on the last day of
the fiscal year. 
 Eligibility 

At the beginning of each fiscal year Program Period, the Company will determine Program participation eligibility for all employment positions for such
Program Period. 
 Prior to the beginning of the Program Period the criteria for participation in the Program will be set by the Company at its
sole discretion. 
 Participation in the Program during a Program Period is not a guarantee of on-going employment nor does it create any right
to participate in the Program during any subsequent Program Period. 
  

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Avago Technologies Confidential 

 Conditions of Eligibility: All regular full-time and regular part-time employees who are: 

 

	 	•	 	 Not on a Sales Incentive Program (SIP); 

  

	 	•	 	 In active regular employment status before the first day of the fourth quarter of the fiscal year performance period. 

 

	 	•	 	 In regular active employment status on the Avago Performance Bonus (APB) payout date 

Description 
 The performance results for
the Program Period are based on a weighting system comprised of Corporate performance and Business Division/Function performance. 
  

			
	Corporate Performance	  	Corporate performance for the Program Period will be based on the attainment of Company targets as defined for the specific fiscal year: Targets are set by the CEO and Compensation
Committee of the Board of Directors. Attainment measurements and targets are maintained by Finance.
		
	Business Division or Function Performance	  	Business Division or Function performance for the Program Period will be based on the attainment of Business Division or Function goals. Goals are set by Business Division or
Function VPs and approved by the CEO and Compensation Committee of the Board of Directors. Attainment measurements and targets are maintained by Finance.
		
	Program Award Determination	  	The Program award payout (“Program Award”) for each participant will be determined as follows.

Definitions: 
  

	 	1.	Eligible Earnings: Represents base wages earned during the performance period and excludes overtime pay, shift differential, week-end differential,
disability payments, or other allowances. 

 Total eligible earnings for the Program Period will be
adjusted for part-time status, unpaid LOA, hire date or re-hire date. 
  

	 	2.	Attainment %: Payout on performance achieved for each Business attainment goal between the threshold and the maximum will be linearly interpolated.

  

	 	3.	Performance Multiplier: Based on the performance rank of each participant with payout multipliers as follows: 

 

					
	•	  	Rank 1	  	 1.5 times the on-target bonus
	•	  	Rank 2	  	 1.0 times the on-target bonus
	•	  	Rank 3	  	 0.5 times the on-target bonus

  

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Avago Technologies Confidential 

	 	4.	Target Bonus Percent: Percent of eligible earnings that will be paid if the Company and Business Division/Function attainment is 100% of goals. This percent is
assigned to job levels as follows: 

  

								
	 •   ICA
	 		 	5	% 	 	
	 •   ICB
	 		 			 	
				
	 •   Entry
	 		 	7	% 	 	
	 •   Career
	 		 	9	% 	 	
	 •   Expert
	 		 	12	% 	 	
	 •   Master
	 		 	15	% 	 	
	 •   Fellow
	 		 	20	% 	 	
			
	 •   People Manager
	 			 	
			
	 •   Supervisor
	 	10	% 	 	
	 •   Operating Manager
	 	12	% 	 	
	 •   Integrating Manager
	 	17	% 	 	
	 •   Senior Manager I & II
	 	30	% 	 	

 Target Bonus Percent is prorated based on eligibility and job level change during the performance
period. 
 Any exceptions require approval from the VP of Human Resources and the CEO 

 

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Avago Technologies Confidential 

 Payout 

There are two payouts in the FY2010 annual Program Period. 

Interim Payment: The first payout is an interim payout made after the end of the first fiscal half which is calculated using the annual formula
with the following additional criteria: 
  

	 	•	 	 Achievement of first half corporate metrics 

  

	 	•	 	 Performance Rank in place from prior year 

  

	 	•	 	 Capped at 100% for rank 1 and rank 2 employees 

  

	 	•	 	 Capped at 50% for rank 3 employees 

 

 

  

											
	 Metric
	  	Weight	 	Achievement %
Threshold
for
Minimum
Payout	 	Payout at
Minimum
Attainment
Threshold	 	Payout
at
Target
100%	 	Payout
at
Maximum
Attainment
Maximum
	 Revenue Growth
	  	25%	 	39%	 	50%	 	100%	 	100%
	 Operating Profit
	  	25%	 	81%	 	50%	 	100%	 	100%
	 Business Division or Function Results *
	  	N/A	 	Division/Function

Specific
	 		 		 	

 Final Payment: The fiscal year end payout is made after the end of the fiscal year and is calculated using
the annual formula based on: 
  

	 	•	 	 Actual achievement against full fiscal year Corporate and Division/Function metrics 

 

	 	•	 	 Current year performance rank 

  

	 	•	 	 Less the interim payment 

  

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Avago Technologies Confidential 

 

 

  

											
	 Metric
	  	Weight	 	Achievement %
Threshold
for
Minimum
Payout	 	Payout
at
Minimum
Attainment
Threshold	 	Payout
at

Target
100%	 	Payout
at
Maximum
Attainment
Maximum
	 Revenue Growth
	  	25%	 	53%	 	50%	 	100%	 	150%
	 Operating Profit
	  	25%	 	81%	 	50%	 	100%	 	150%
	 Business Division or Function Results *
	  	50%	 	Division/Function

Specific
	 	50%	 	100%	 	150%

 Policies and Practices

 Various considerations may impact the administration and payout of the Program. Such considerations may include but are not limited to the
following 
  

	 	1.	Program Administration: The Company will establish guidelines for the Program in line with corporate strategies and objectives. The Company has final authority
as to any issues related to the interpretation and the administration of the Program, including the resolution of any unusual circumstances. 

  

	 	2.	Management Discretion: The Company will set the Program performance targets. The Company may, at its sole discretion, at any time alter, amend, suspend or in any
other way modify the Program to align with the changing needs of the Company without prior notification to any participant. 

  

	 	3.	Payment Authorization: Employees will be eligible to participate in the APB program period on a prorata basis based upon hire date and dependent upon being
actively employed before the first day of the fourth quarter of the current fiscal year and being actively employed and on Avago payroll through to the APB payout date. All awards must be approved by the CEO and Compensation Committee. The program
award will be paid in full, as soon as administratively feasible, following the end of a Program Period. 

  

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Avago Technologies Confidential 

	 	4.	Termination: Any employee may be excluded from Program participation, at any time, at the sole discretion of the Company. In order to receive a Program Award
payment for the applicable Program Period, an employee must be (1) on the payroll, and (2) an eligible participant of the Program at the time of payout. The company will not seek repayment of a valid bonus payout if the employee terminates
employment after payment for the previous performance period. 

  

	 	5.	Pro-rated payments: Pro-rated payment will only be made in cases as set forth below: 

 

	 	•	 	 Position changes from non-sales to sales (on SIP) or from sales (on SIP) to non- sales. 

 

	 	•	 	 Reclassification from one job level to another (upward or downward). 

 

	 	•	 	 Transfer between Business Divisions or Functions during the fiscal year of the performance period. 

 

	 	•	 	 Termination for Disability: In the event a participant terminates employment with the Company for disability reasons, such employee will be
considered eligible for completed plan periods in which the employee participated. 

  

	 	•	 	 Termination upon Death: Upon the death of a participant, the award will be considered fully vested for all completed plan periods in which the
employee participated. Payment will be made to legal beneficiaries, as designated by the employee and on file the Company. 

  

	 	6.	Right of Employment and Payment: Management reserves the right, at its sole discretion, to restrict participation in the Program at any time. Participation under
this Program does not affect the employment status of the participant and does not imply continued employment with Company. Either participant or Company may terminate the employment relationship at any time, for any reason, with or without cause.

 Payments made under the Program are not an element of the participant’s salary or base compensation
(“Compensation”) and shall not be considered as part of such Compensation in the event of severance, redundancy, resignation or any other situation unless required by local law. The granting and receipt of payments under the Program is
voluntary and at the Company’s sole discretion, and does not constitute a claim for further payments regardless of how many times such payments have previously been granted to the participant. 

 

	 	7.	Unfunded Status/Right of Assignment: No assets are reserved for this Program and no person has a right or interest in Company assets as a result of the existence
of this Program. No right or interest in the Program may be assigned or transferred, or subject to any lien, directly, by operation of law or otherwise, including without limitation, bankruptcy, pledge, garnishment, attachment, levy or other
creditor’s process. 

  

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Avago Technologies Confidential 

	 	8.	Taxes: All awards payable under the Program are taxable as ordinary income in the year of payment and subject to applicable taxes and withholdings. Employees on
a temporary relocation are paid and taxed from their home country. 

  

	 	9.	Plan Amendment or Termination: The Company may amend or terminate this Program at any time. While the Company intends that any amendment or termination would be
prospective, the Company reserves the right to act retroactively without prior written notice to the participants. 

  

	 	10.	Final Decision: The Chief Executive Officer (“CEO”) will make the final determination as to the eligibility for participation in the Program and any
other applicable terms. All decisions made by the CEO regarding this Program shall be final, and shall not be subject to review or appeal. 

This Program shall be governed by the laws of the State of California, without regard to choice-of-law provisions. 

 

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Avago Technologies Confidential 

 APPENDIX 

Payout Examples at Target: 
 The examples
of the interim and the final payouts are based on the following assumptions. 
  

	 	•	 	 Employed full time during the entire fiscal year 

  

	 	•	 	 Annual Eligible Earnings in local currency is 100,000 

 

	 	•	 	 Performance Rank is 1 

  

	 	•	 	 Bonus target is 12% 

  

	 	•	 	 Corporate attainment for
1st half and fiscal year both at 100%

  

	 	•	 	 Division attainment at 100% 

Interim Payment: The first payout is an interim payout made after the end of the first fiscal half which is calculated using the annual
formula with the following additional criteria: 
  

	 	•	 	 Achievement of first half corporate metrics (excludes Division metrics) 

 

	 	•	 	 Performance Rank in place from prior year 

  

	 	•	 	 Capped at 100% for rank 1 and rank 2 employees 

  

	 	•	 	 Capped at 50% for rank 3 employees 

  

											
	 Metric
	  	Weight	 	Achievement %
Threshold
for
Minimum
Payout	 	Payout
at
Minimum
Attainment
Threshold	 	Payout
at

Target
100%	 	Payout
at
Maximum
Attainment
Maximum
	 Revenue Growth
	  	25%	 	39%	 	50%	 	100%	 	100%
	 Operating Profit
	  	25%	 	81%	 	50%	 	100%	 	100%
	 Business Division or Function Results *
	  	N/A	 	Division/Function

Specific
	 		 		 	

 

 

  

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Avago Technologies Confidential 

 Final Payment: The fiscal year end payout is made after the end of the fiscal year and is
calculated using the annual formula based on: 
  

	 	•	 	 Actual achievement against full fiscal year Corporate and Division/Function metrics 

 

	 	•	 	 Current year performance rank 

  

	 	•	 	 Less the interim payment 

  

											
	 Metric
	  	Weight	 	Achievement %
Threshold
for
Minimum
Payout	 	Payout
at
Minimum
Attainment
Threshold	 	Payout
at

Target
100%	 	Payout
at
Maximum
Attainment
Maximum
	 Revenue Growth
	  	25%	 	53%	 	50%	 	100%	 	150%
	 Operating Profit
	  	25%	 	81%	 	50%	 	100%	 	150%
	 Business Division or Function Results *
	  	50%	 	Division/Function

Specific
	 	50%	 	100%	 	150%

 

 

  

 Pg 9 of 9 

Avago Technologies ConfidentialAvago Technologies Limited Employee Share Purchase Plan

 Exhibit 10.2 

AVAGO TECHNOLOGIES LIMITED 

EMPLOYEE SHARE PURCHASE PLAN 

(AMENDED AND RESTATED EFFECTIVE AS OF JUNE 2, 2010) 

Avago Technologies Limited, a company organized under the laws of Singapore (the “Company”), hereby adopts the Avago
Technologies Limited Employee Share Purchase Plan, as amended and restated herein and as may be amended from time to time (the “Plan”), effective as of June 2, 2010. This Plan amends and restates in its entirety the Employee
Share Purchase Plan adopted by the Company as of July 31, 2009 (the “Original Plan”). 
 1.
Purpose. The purposes of the Plan are as follows: 
 (a) To assist employees of the Company and its Designated
Subsidiaries (as defined below) in acquiring a share ownership interest in the Company pursuant to a plan which is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the United States
Internal Revenue Code of 1986, as amended. 
 (b) To help employees provide for their future security and to encourage them to
remain in the employment of the Company and its Designated Subsidiaries. 
 2. Definitions. 

(a) “Administrator” shall mean the administrator of the Plan, as determined pursuant to Section 14 hereof.

 (b) “Board” shall mean the Board of Directors of the Company. 

(c) “Code” shall mean the United States Internal Revenue Code of 1986, as amended. 

(d) “Committee” shall mean the committee appointed to administer the Plan pursuant to Section 14 hereof.

 (e) “Company” shall mean Avago Technologies Limited , a company organized under the laws of Singapore, and
any successor by merger, consolidation or otherwise. 
 (f) “Compensation” shall mean all base straight time
gross earnings and commissions, exclusive of payments for overtime, shift premium, incentive compensation, incentive payments, bonuses, expense reimbursements, fringe benefits and other compensation. 

(g) “Designated Subsidiary” shall mean any Subsidiary which is a “related corporation” of the Company within
the meaning of Section 6 of the Companies Act (Chapter 50 of Singapore) and has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. The Administrator may designate, or terminate
the designation of, a Subsidiary as a Designated Subsidiary without the approval of the shareholders of the Company. 

 (h) “Effective Date” shall mean July 31, 2009 (the date on which
shareholders of the Company approved the Original Plan). 
 (i) “Eligible Employee” shall mean an Employee of
the Company or a Designated Subsidiary: (i) who does not, immediately after the Option is granted, own shares possessing five percent (5%) or more of the total combined voting power or value of all classes of shares of the Company, a
Parent or a Subsidiary (as determined under Section 423(b)(3) of the Code); (ii) whose customary employment is for more than twenty (20) hours per week; and (iii) whose customary employment is for more than five (5) months
in any calendar year. For purposes of clause (i), the rules of Section 424(d) of the Code with regard to the attribution of share ownership shall apply in determining the share ownership of an Employee, and shares which an Employee may purchase
under outstanding Options shall be treated as shares owned by the Employee. Notwithstanding the foregoing the Administrator may exclude from participation in the Plan as an Eligible Employee any Employee who is a citizen or resident of a
jurisdiction other than the United States (without regard to whether they are also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (i) the grant of the Option is
prohibited under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of such jurisdiction would cause the Plan or the Option to violate the requirements of Section 423 of the Code. 

(j) “Employee” shall mean any person who renders services to the Company or a Subsidiary in the status of an employee
within the meaning of Code Section 3401(c). “Employee” shall not include any director of the Company or a Subsidiary who does not render services to the Company or a Subsidiary in the status of an employee within the meaning of Code
Section 3401(c). For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary and meeting the
requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship
shall be deemed to have terminated on the first day following such three (3)-month period. 
 (k) “Enrollment
Date” shall mean the first Trading Day of each Offering Period. 
 (l) “Enrollment Deadline” shall
have the meaning given to it in Section 5(a). 
 (m) “Equity Restructuring” means a non-reciprocal
transaction (i.e. a transaction in which the Company does not receive consideration or other resources in respect of the transaction approximately equal to and in exchange for the consideration or resources the Company is relinquishing in such
transaction) between the Company and its shareholders, such as a share split, spin-off, rights offering, nonrecurring share dividend or recapitalization through a large, nonrecurring cash dividend, that affects the Ordinary Shares (or other
securities of the Company) or the share price of Ordinary Shares (or other securities) and causes a change in the per share value of the Ordinary Shares underlying outstanding Options. 

 

 2 

 (n) “Exercise Date” shall mean the last Trading Day of each Offering
Period. 
 (o) “Fair Market Value” shall mean, as of any date, the per share value of the Ordinary Shares
determined as follows: 
 (i) If the Ordinary Shares are listed on any established stock exchange or a national market system,
Fair Market Value shall be the per share closing sales price for the Ordinary Shares (or the per share closing bid, if no sales were reported) as quoted on such exchange or system for such date, or if no bids or sales were reported for such date,
then the per share closing sales price (or the per share closing bid, if no sales were reported) on the trading date immediately prior to such date during which a bid or sale occurred, in each case, as reported in The Wall Street Journal or
such other source as the Administrator deems reliable; 
 (ii) If the Ordinary Shares are regularly quoted by a recognized
securities dealer but selling prices are not reported, Fair Market Value shall be the mean of the per share closing bid and asked prices for the Ordinary Shares on such date, or if no per share closing bid and asked prices were reported for such
date, the date immediately prior to such date during which closing bid and asked prices were quoted for the Ordinary Shares, in each case, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or

 (iii) In the absence of an established market for the Ordinary Shares, the Fair Market Value thereof shall be determined in
good faith by the Administrator. 
 (p) “Offering Date” shall mean September 15, 2010 and each
March 15 and September 15 thereafter. Offering Dates may be changed pursuant to Section 4 of this Plan. 
 (q)
“Offering Period” shall mean subject to Section 24, each approximately six (6) month period beginning on an Offering Date and ending on the next succeeding Exercise Date. The first Offering Period shall commence
September 15, 2010. The duration and timing of Offering Periods may be changed pursuant to Section 4 of this Plan. 

(r) “Option” means an option to purchase the Ordinary Shares on an Exercise Date that is granted under the Plan.

 (s) “Ordinary Shares” shall mean the ordinary shares of the Company, no par value. 

(t) “Parent” means any entity, other than the Company, in an unbroken chain of entities ending with the Company if, at
the time of the determination, each of the entities other than the Company owns shares possessing 50% or more of the total combined voting power of all classes of shares in one of the other entities in such chain. 

(u) “Participant” means an Eligible Employee who is granted an Option under this Plan. 

 

 3 

 (v) “Plan” shall mean this Avago Technologies Limited Employee Share
Purchase Plan, as may be amended from time to time. 
 (w) “Purchase Price” shall mean 85% of the Fair Market
Value of one Ordinary Share on the Enrollment Date or on the Exercise Date, whichever is lower; provided, however, that the Purchase Price may be adjusted by the Administrator pursuant to Section 20. 

(x) “Subsidiary” shall mean any entity, other than the Company, in an unbroken chain of entities beginning with the
Company if, at the time of the determination, each of the entities other than the last entity in an unbroken chain owns shares possessing 50% or more of the total combined voting power of all classes of shares in one of the other entities in such
chain. 
 (y) “Trading Day” shall mean a day on which the Nasdaq Stock Market is open for trading. 

3. Eligibility. 

(a) Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given Enrollment Date for an Offering
Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Section 5 and the limitations imposed by Section 423(b) of the Code. 

(b) Each person who, during the course of an Offering Period, first becomes an Eligible Employee subsequent to the Enrollment Date will
be eligible to become a Participant in the Plan on the first Enrollment Date following the day on which such person becomes an Eligible Employee, subject to the requirements of Section 5 and the limitations imposed by Section 423(b) of the
Code. 
 (c) No Eligible Employee shall be granted an Option under the Plan which permits such Eligible Employee rights to
purchase Ordinary Shares under the Plan, and to purchase shares under all other employee share purchase plans of the Company, any Parent or any Subsidiary subject to the Section 423, to accrue at a rate which exceeds $25,000 of fair market
value of such shares (determined at the time the Option is granted) for each calendar year in which the Option is outstanding at any time. For purpose of the limitation imposed by this subsection, the right to purchase Ordinary Shares under an
Option accrues when the Option (or any portion thereof) first becomes exercisable during the calendar year, the right to purchase Ordinary Shares under an Option accrues at the rate provided in the Option, but in no case may such rate exceed $25,000
of fair market value of such Ordinary Shares (determined at the time such Option is granted) for any one calendar year, and a right to purchase Ordinary Shares which has accrued under an Option may not be carried over to any other Option. This
limitation shall be applied in accordance with Section 423(b)(8) of the Code and the Treasury Regulations thereunder. 
 4.
Offering Periods. Subject to Section 24, the Plan shall be implemented by successive approximately six (6) month Offering Periods, the first of which shall commence on September 15, 2010. A new Offering Period shall commence
following the expiration of each preceding Offering Period until the Plan expires or is terminated in accordance with Section 20 

 

 4 

 
hereof. The Administrator shall have the power to change the duration of Offering Periods (including the Offering Dates and the Exercise Dates thereof) with respect to future offerings if such
change is announced at least five (5) days prior to the scheduled beginning of the first Offering Period to be affected thereafter. In no event may an Offering Period exceed twenty-seven (27) months in duration. 

5. Participation. 

(a) An Eligible Employee may become a Participant in the Plan by completing a subscription agreement authorizing payroll deductions in a
form acceptable to the Company and filing it with the Company’s payroll office or external stock plan agent, as determined by the Administrator, five (5) days (or such shorter or longer period as may be determined by the Administrator, in
its sole discretion) prior to the applicable Enrollment Date (the “Enrollment Deadline”). 
 (b) Each person
who first becomes an Eligible Employee subsequent to the Enrollment Date for any Offering Period, will be eligible to become a Participant in the Plan on the first Enrollment Date following the day on which such person becomes an Eligible Employee.
Such person may become a Participant in the Plan by completing a subscription agreement authorizing payroll deductions in a form acceptable to the Company and filing it with the Company’s payroll office no later than the Enrollment Deadline.

 (c) Except as provided in subsection (a), payroll deductions for a Participant shall commence on the first payroll following
the Enrollment Date and shall end on the last payroll in the Offering Period to which such authorization is applicable, unless sooner terminated by the Participant as provided in Section 10 hereof. 

(d) During a leave of absence approved by the Company or a Subsidiary and meeting the requirements of Treasury Regulation
Section 1.421-1(h)(2), a Participant may continue to participate in the Plan by making cash payments to the Company on each pay day equal to the amount of the Participant’s payroll deductions under the Plan for the pay day immediately
preceding the first day of such Participant’s leave of absence. If a leave of absence is unapproved or fails to meet the requirements of Treasury Regulation Section 1.421-1(h)(2), the Participant will cease automatically to participate in
the Plan. In such event, the company will automatically cease the Participant’s payroll deductions under the Plan. The Company will pay to the Participant his or her total payroll deductions for the Offering Period, in cash in one lump sum
(without interest), as soon as practicable after the Participant ceases to participate in the Plan. 
 (e) A Participant’s
completion of a subscription agreement will enroll such Participant in the Plan for each successive Offering Period on the terms contained herein and therein until the Participant either submits a new subscription agreement, withdraws from
participation under the Plan as provide in Section 10 hereof or otherwise becomes ineligible to participate in the Plan. 
  

 5 

 6. Payroll Deductions. 

(a) At the time a Participant files his or her subscription agreement, he or she shall elect to have payroll deductions made on each pay
day during the Offering Period in an amount from one percent (1%) to ten percent (10%) of the Compensation, up to a maximum of $25,000 in any Offering Period, which he or she receives on each pay day during the Offering Period. 

(b) All payroll deductions made for a Participant shall be credited to his or her account under the Plan and shall be withheld in whole
percentages only. Except as described in Section 5(a) hereof, a Participant may not make any additional payments into such account. 

(c) A Participant may discontinue his or her participation in the Plan as provided in Section 10 hereof. A Participant may not make
any changes to the rate of his or her payroll deductions during the period starting on the day immediately following the Enrollment Deadline for an Offering Period and running through the end of the applicable Offering Period. 

(d) Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 3(c)
hereof, the Company may decrease a Participant’s payroll deductions to zero percent (0%) at any time during an Offering Period. 

(e) At the time the Option is exercised, in whole or in part, or at the time some or all of the Ordinary Shares issued under the Plan are
disposed of, the Participant must make adequate provision for the Company’s federal, state, or other tax withholding obligations, if any, which arise upon the exercise of the Option or the disposition of the Ordinary Shares. At any time, the
Company may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including any withholding required to make available to the Company any
tax deductions or benefits attributable to sale or early disposition of Ordinary Shares by the Employee. 
 7. Grant of
Option. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period shall be granted an Option to purchase on the Exercise Date for such Offering Period (at the applicable Purchase Price) up to a
number of Ordinary Shares determined by dividing such Participant’s payroll deductions accumulated prior to such Exercise Date and retained in the Participant’s account as of the Exercise Date by the applicable Purchase Price; provided,
however, that in no event shall a Participant be permitted to purchase during each Offering Period more than two thousand five hundred (2,500) Ordinary Shares (subject to any adjustment pursuant to Section 19); and provided, further, that
such purchase shall be subject to the limitations set forth in Sections 3(c) and 13 hereof. The Administrator may, for future Offering Periods, increase or decrease, in its sole discretion, the maximum number of Ordinary Shares a Participant
may purchase during each Offering Period. Exercise of the Option shall occur as provided in Section 8 hereof, unless the Participant has withdrawn pursuant to Section 10 hereof or otherwise becomes ineligible to participate in the Plan.
The Option shall expire on the last day of the Offering Period. 
  

 6 

 8. Exercise of Option. 

(a) Unless a Participant withdraws from the Plan as provided in Section 10 hereof or otherwise becomes ineligible to participate in
the Plan, such Participant’s Option to purchase Ordinary Shares shall be exercised automatically on the Exercise Date, and the maximum number of whole Ordinary Shares subject to the Option shall be purchased for such Participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her account. No fractional shares shall be purchased; any payroll deductions accumulated in a Participant’s account which are not sufficient to purchase a full share
shall be either retained in the Participant’s account for the subsequent Offering Period, or refunded to the Participant, to be determined by the Administrator (in its sole discretion). During a Participant’s lifetime, a Participant’s
Option to purchase shares hereunder is exercisable only by him or her. 
 (b) Where a Participant’s payroll deductions are
made in a currency other than U.S. dollars, such contributions will be converted into U.S. dollars on the Exercise Date using an exchange ratio determined by the Administrator in its discretion. 

(c) If the Administrator determines that, on a given Exercise Date, the number of shares with respect to which Options are to be
exercised may exceed (i) the number of Ordinary Shares that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares available for sale under the Plan on such Exercise
Date, the Administrator may in its sole discretion (x) provide that the Company shall make a pro rata allocation of the Ordinary Shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as
shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants exercising Options to purchase Ordinary Shares on such Exercise Date, and continue all Offering Periods then in effect, or (y) provide
that the Company shall make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be
equitable among all Participants exercising Options to purchase Ordinary Shares on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20 hereof. The Company may make pro rata allocation of the
shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s shareholders subsequent to such
Enrollment Date. The balance of the amount credited to the account of each Participant which has not been applied to the purchase of Ordinary Shares shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after
the Exercise Date, without any interest thereon. 
 9. Deposit of Shares. As promptly as practicable after each Exercise
Date on which a purchase of Ordinary Shares occurs, the Company may arrange for the deposit, into each Participant’s account with any broker designated by the Company to administer this Plan, of the number of Ordinary Shares purchased upon
exercise of Participant’s Option. 
  

 7 

 10. Withdrawal. 

(a) A Participant may withdraw all but not less than all of the payroll deductions credited to Participant’s account and not yet used
to exercise Participant’s Option under the Plan at any time by giving written notice to the Company in the form prescribed by the Company for use under the Plan. All of the Participant’s payroll deductions credited to the
Participant’s account during the Offering Period shall be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal and such Participant’s Option for the Offering Period shall be automatically
terminated, and no further payroll deductions for the purchase of Ordinary Shares shall be made for such Offering Period. If a Participant withdraws from an Offering Period, payroll deductions shall not resume at the beginning of the succeeding
Offering Period unless the Participant delivers to the Company a new subscription agreement. 
 (b) A Participant’s
withdrawal from an Offering Period shall not have any effect upon the Participant’s eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the
termination of the Offering Period from which the Participant withdraws. 
 11. Termination of Employment. Upon a
Participant’s ceasing to be an Eligible Employee, for any reason, the Participant shall be deemed to have elected to withdraw from the Plan and the payroll deductions credited to such Participant’s account during the Offering Period, up to
the date of such termination of employment, shall be paid to such Participant or, in the case of the Participant’s death, to the person or persons entitled thereto under Section 15 hereof, as soon as reasonably practicable and such
Participant’s Option for the Offering Period shall be automatically terminated. 
 12. Interest. No interest shall
accrue on the payroll deductions or lump sum contributions of a Participant in the Plan. 
 13. Shares Subject to Plan.

 (a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 19 hereof, the maximum
initial number of Ordinary Shares which shall be made available for sale under the Plan shall be eight million (8,000,000) shares. In addition to the foregoing, subject to Section 19 hereof, commencing on the first day of the
Company’s 2012 fiscal year and on the first day of each fiscal year thereafter during the term of the Plan, the number of Ordinary Shares which shall be made available for sale under the Plan shall be increased by that number of Ordinary Shares
equal to the least of (i) one percent (1%) of the Company’s outstanding Ordinary Shares on such date, (ii) two million (2,000,000) shares or (iii) a lesser amount determined by the Board. Notwithstanding the foregoing,
in no event shall the aggregate number of Ordinary Shares reserved for issuance under the Plan, during the term of the Plan, exceed twenty-four million (24,000,000) Ordinary Shares during the term of the Plan, subject to adjustment as provided
in Section 19 hereof. 
 (b) If any Option granted under the Plan shall for any reason terminate without having been
exercised, the Ordinary Shares not purchased under such Option shall again become available for issuance under the Plan. The Ordinary Shares subject to the Plan may be unissued shares or reacquired shares, bought on the market or otherwise.

  

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 (c) With respect to Ordinary Shares subject to an Option granted under the Plan, a
Participant shall not be deemed to be a shareholder of the Company, and the Participant shall not have any of the rights or privileges of a shareholder, until such Ordinary Shares have been issued to the Participant or the Participant’s nominee
following exercise of the Participant’s Option. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date occurs prior to the
date of such issuance, except as otherwise expressly provided herein. 
 14. Administration. 

(a) The Plan shall be administered by the Board unless and until the Board delegates administration to a Committee as set forth below. The
Board may delegate administration of the Plan to a Committee comprised of two or more members of the Board, each of whom is a “non-employee director” within the meaning of Rule 16b-3 which has been adopted by the United States Securities
and Exchange Commission under the United States Securities Exchange Act of 1934, as amended, and which is otherwise constituted to comply with applicable law, and the term “Committee” shall apply to any persons to whom such
authority has been delegated. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a
subcommittee any of the administrative powers the Committee is authorized to exercise, subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. Each member of the
Committee shall serve for a term commencing on a date specified by the Board and continuing until the member dies or resigns or is removed from office by the Board. References in this Plan to the “Administrator” shall mean the Board unless
administration is delegated to a Committee or subcommittee, in which case references in this Plan to the Administrator shall thereafter be to the Committee or subcommittee. 

(b) It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with the provisions of the
Plan. The Administrator shall have the power to interpret the Plan and the terms of the Options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke
any such rules. Subject to Section 24, the Administrator shall have the discretion to include any restriction or limitation regarding Shares purchased pursuant to the Plan based on such factors as the Administrator, in its sole discretion,
shall determine. The Administrator at its option may utilize the services of an agent to assist in the administration of the Plan including establishing and maintaining an individual securities account under the Plan for each Participant. In its
absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan. 

(c) All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne by the
Company. The Administrator may, with the approval of the Board, employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to rely upon the
advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons.
No member of the 
  

 9 

 
Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Options, and all members of the Board shall be fully protected
by the Company in respect to any such action, determination, or interpretation. 
 15. Designation of Beneficiary.

 (a) Subject to applicable law, a Participant may file a written designation of a beneficiary who is to receive any shares and
cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the Option is exercised but prior to delivery to such Participant of such shares and cash. In
addition, subject to applicable law, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death prior to exercise of the
Option. If a Participant is married and the designated beneficiary is not the spouse, spousal consent shall be required for such designation to be effective. 

(b) Subject to applicable law, such designation of beneficiary may be changed by the Participant at any time by written notice to the
Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such shares and/or cash to the executor
or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more
dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

16. Transferability. 

(a) Neither payroll deductions credited to a Participant’s account nor any rights with regard to the exercise of an Option or to
receive shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15 hereof) by the Participant. Any such attempt at
assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10 hereof. 

(b) Subject to Sections 19(c) and 19(d), no Ordinary Shares issued upon exercise of an Option under this Plan may be assigned,
transferred, pledged or otherwise disposed of in any way by the Participant until the six (6) month anniversary of the Exercise Date upon which such Ordinary Shares were purchased. Notwithstanding the foregoing, in the event a Participant
ceases to be an Eligible Employee for any reason, this Section 16(b) shall no longer apply to any Ordinary Shares then held by such Participant. 

(c) In the event Participant is party to a Management Shareholders Agreement with the Company, the Shares subject to, or purchased upon
exercise of, Options shall not be subject to such Management Shareholders Agreement and the provisions of this Plan shall supersede any competing provisions of any such Management Shareholders Agreement with respect to any Ordinary Shares acquired
by such Participant pursuant to this Plan. 
  

 10 

 17. Use of Funds. All payroll deductions received or held by the Company under the
Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions, provided, that nothing in this Section 17 shall diminish the Company’s obligations pursuant to
Section 8(a) hereof. 
 18. Reports. Individual accounts shall be maintained for each Participant in the Plan.
Statements of account shall be given to participating Employees at least annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of shares purchased and the remaining cash balance, if any.

 19. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 

(a) Changes in Capitalization. In the event that any dividend or other distribution, reorganization, merger, consolidation,
combination, repurchase, or exchange of Ordinary Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Ordinary Shares occurs such that an adjustment is determined by the Administrator (in
its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Administrator shall, in such manner as it may deem equitable, adjust the
number and class of Ordinary Shares which have been authorized for issuance under this Plan but have not yet been placed under Option, the number of shares subject to the Plan and limitations provided in Section 13, the maximum number of shares
each Participant may purchase each Offering Period (pursuant to Section 7), the number and class of Ordinary Shares covered by each outstanding Option, the purchase price per share of Ordinary Shares covered by each Option which has not yet
been exercised. 
 (b) Equity Restructuring. In connection with the occurrence of any Equity Restructuring, and
notwithstanding anything to the contrary in Section 19(a), the number and type of securities subject to each outstanding Option and the purchase price per share thereof, if applicable, will be equitably adjusted by the Administrator. The
adjustments provided under this Section 19(b) shall be nondiscretionary and shall be final and binding on the affected Participants and the Company. 

(c) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Offering Period then
in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the
Administrator. In addition, the restrictions on transferability set forth in Section 16(b) shall immediately lapse. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator
shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option
shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10 hereof. 

 

 11 

 (d) Merger or Asset Sale. In the event of a proposed sale of all or substantially all
of the assets of the Company, or the merger of the Company with or into another corporation, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a Parent or Subsidiary of the successor
corporation. In the event that the successor corporation refuses to assume or substitute for the Option, any Offering Period then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on
the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger. In addition, the restrictions on transferability set forth in Section 16(b) shall immediately lapse. The Administrator shall
notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall
be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 10 hereof. 

20. Amendment or Termination. 

(a) The Administrator may at any time and for any reason terminate or amend the Plan. Except as provided in Section 19 hereof, no
such termination can affect Options previously granted, provided that an Offering Period may be terminated by the Board if the Board determines that the termination of the Offering Period or the Plan is in the best interests of the Company and its
shareholders. Except as provided in Section 19 and this Section 20 hereof, no amendment may make any change in any Option theretofore granted which adversely affects the rights of any Participant without the consent of such Participant. To
the extent necessary to comply with Section 423 of the Code (or any successor rule or provision or any other applicable law, regulation or stock exchange rule), the Company shall obtain shareholder approval in such a manner and to such a degree
as required. 
 (b) Without shareholder consent and without regard to whether any Participant rights may be considered to have
been “adversely affected,” the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to
amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding
elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Ordinary Shares for each Participant properly correspond with amounts withheld from the
Participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 

(c) In the event the Board determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences,
the Board may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(i) altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase
Price; 
  

 12 

 (ii) shortening any Offering Period so that the Offering Period ends on a new Exercise
Date, including an Offering Period underway at the time of the Administrator action; and 
 (iii) allocating Ordinary Shares.

 Such modifications or amendments shall not require shareholder approval or the consent of any Participants. 

21. Notices. All notices or other communications by a Participant to the Company under or in connection with the Plan shall be
deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

22. Conditions To Issuance of Shares. The Company shall not be required to issue or deliver any certificate or certificates for
Ordinary Shares purchased upon the exercise of Options prior to fulfillment of all the following conditions: 
 (a) The
admission of such shares to listing on all stock exchanges, if any, on which is then listed; and 
 (b) The completion of any
registration or other qualification of such shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in its absolute
discretion, deem necessary or advisable; and 
 (c) The obtaining of any approval or other clearance from any state or federal
governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; and 

(d) The payment to the Company of all amounts which it is required to withhold under federal, state or local law upon exercise of the
Option; and 
 (e) The lapse of such reasonable period of time following the exercise of the Option as the Administrator may
from time to time establish for reasons of administrative convenience. 
 23. Term of Plan. The Plan
initially became effective on the Effective Date. The Plan as amended and restated herein shall become effective as of June 2, 2010. The Plan shall be in effect until July 27, 2019 (the tenth
(10th) anniversary of the date of the initial
adoption of the Original Plan by the Board) unless sooner terminated under Section 20 hereof. 
 24. Equal Rights and
Privileges. All Eligible Employees of the Company (or of any Designated Subsidiary) will have equal rights and privileges under this Plan so that this Plan qualifies as an “employee stock purchase plan” within the meaning of
Section 423 of the Code or applicable Treasury regulations thereunder. Any provision of this Plan that is inconsistent with Section 423 or applicable Treasury regulations will, without further act or amendment by the Company, the Board or
the Administrator, be reformed to comply with the equal rights and privileges requirement of Section 423 or applicable Treasury regulations. 
  

 13 

 25. No Employment Rights. Nothing in the Plan shall be construed to give any person
(including any Eligible Employee or Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to (i) terminate the employment of any person
(including any Eligible Employee or Participant) at any time, with or without cause, or (ii) terminate or amend the Plan or any Offering Period in accordance with Section 20 hereof, in each case, subject to applicable law. 

26. Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company of any disposition or other transfer
of any Ordinary Shares purchased upon exercise of an Option if such disposition or transfer is made: (a) within two (2) years from the Enrollment Date of the Offering Period in which the shares were purchased or (b) within one
(1) year after the Exercise Date on which such shares were purchased. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration,
by the Participant in such disposition or other transfer. 
 27. Rules Particular To Specific Countries. Notwithstanding
anything herein to the contrary, the terms and conditions of the Plan with respect to Participants who are tax residents of a particular country may be subject to an addendum to the Plan in the form of an Appendix. To the extent that the terms and
conditions set forth in an Appendix conflict with any provisions of the Plan, the provisions of the Appendix shall govern. The adoption of any such Appendix shall be pursuant to Section 17 above. 

28. Governing Law. The validity and enforceability of this Plan shall be governed by and construed in accordance with the laws of
the State of California without regard to otherwise governing principles of conflicts of law. 
  

 14

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