Document:

EX-10.2

 Exhibit 10.2 
  

 
 AbShare 

Approved by the Remuneration Committee on behalf of the Board of Directors on 4 September 2018 

 

 CONTENTS 
  

							
	 1.
	 	 DEFINITIONS AND INTERPRETATION
	  	 	3	 
			
	 2.
	 	 INVITATION
	  	 	5	 
			
	 3.
	 	 ENROLING IN THE PLAN
	  	 	6	 
			
	 4.
	 	 GRANT OF AWARDS
	  	 	6	 
			
	 5.
	 	 PERFORMANCE CONDITION
	  	 	6	 
			
	 6.
	 	 PLAN LIMITS
	  	 	6	 
			
	 7.
	 	 VESTING OF THE PURCHASED SHARE AWARD
	  	 	7	 
			
	 8.
	 	 VESTING OF THE MATCHING SHARE AWARD
	  	 	7	 
			
	 9.
	 	 THE HOLDING PERIOD
	  	 	7	 
			
	 10.
	 	 TAXATION AND REGULATORY ISSUES
	  	 	8	 
			
	 11.
	 	 CASH EQUIVALENT
	  	 	8	 
			
	 12.
	 	 WITHDRAWAL FROM THE PLAN
	  	 	8	 
			
	 13.
	 	 CESSATION OF EMPLOYMENT
	  	 	8	 
			
	 14.
	 	 CORPORATE EVENTS
	  	 	9	 
			
	 15.
	 	 ADJUSTMENTS
	  	 	10	 
			
	 16.
	 	 AMENDMENTS
	  	 	11	 
			
	 17.
	 	 LEGAL ENTITLEMENT
	  	 	11	 
			
	 18.
	 	 GENERAL
	  	 	11	 
		
	 SCHEDULE 1—CHINA
	  	 	13	 
			
	 1.
	 	 CESSATION OF EMPLOYMENT
	  	 	13	 
		
	 SCHEDULE 2—USA
	  	 	14	 
			
	 1.
	 	 VESTING OF AWARDS
	  	 	14	 
			
	 2.
	 	 CASH EQUIVALENT
	  	 	14	 
			
	 3.
	 	 CESSATION OF EMPLOYMENT
	  	 	14	 
			
	 4.
	 	 ADJUSTMENTS
	  	 	15	 
			
	 5.
	 	 AMENDMENTS
	  	 	15	 

  
 2 

 AbShare 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 In this Plan, unless otherwise stated, the words and expressions below have the following meanings:

  

			
	“AIM”	  	AIM, a market operated by the London Stock Exchange;
		
	“AIM Rules”	  	the AIM Rules for companies published by the London Stock Exchange, as amended from time to time;
		
	“Award”	  	a Purchased Share Award and/or a Matching Share Award;
		
	“Board”	  	the Board of Directors of the Company, any duly authorised committee of the board or any delegate of the board;
		
	“Company”	  	Abcam plc, a company incorporated in England and Wales under number 03509322;
		
	“Control”	  	the meaning given by section 1124 of the Corporation Tax Act 2010;
		
	“Dealing Day”	  	any day on which AIM, or any other successor body, is open for business;
		
	“Dealing Restrictions”	  	restrictions imposed by MAR, the Company’s share dealing code, the AIM Rules or any applicable laws or regulations which impose restrictions on share dealing;
		
	“Eligible Employee”	  	an employee of the Company (excluding executive directors) or any of its Subsidiaries who, on the date on which the Board makes its determination pursuant to rule 2.1, are employed on a permanent contract or equivalent
basis;
		
	“Enrolment Period”	  	the period during which Eligible Employees may enter into a Share Purchase Agreement to participate in the Plan pursuant to rule 3;
		
	“Exchange Rate”	  	the exchange rate determined by the Board on any particular day, which will usually be the spot rate as quoted in the Financial Times for the immediately preceding Dealing Day, or such other source as the Board may
determine;
		
	“GDPR”	  	the EU General Data Protection Regulation 2016/679, as amended from time to time;
		
	“Grant Date”	  	the date on which an Award is granted;
		
	“Group Member”	  	the Company, or any Participating Subsidiary of the Company or any company which is the Company’s holding company or a Subsidiary of the Company’s holding company;
		
	“Holding Period”	  	a period of one year or any other period as determined by the Board, starting on the Vesting Date;
		
	“Internal Reorganisation”	  	where immediately after any event described in rule 14, all or substantially all of the issued share capital of the acquiring company is owned directly or indirectly by the persons who were shareholders in the Company immediately
before such event;

  
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	“Invitation”	  	an invitation to enrol in the Plan during the Enrolment Period;
		
	“Matching Share Award”	  	a conditional right to acquire Shares in accordance with the rules of the Plan at no cost to the Participant;
		
	“MAR”	  	the EU Market Abuse Regulation 596/2014, as amended from time to time;
		
	“Abcam Award Share Ratio”	  	the ratio of Shares comprised in a Matching Share Award to the number of Shares comprised in the related Purchased Share Award;
		
	“Monthly Contribution”	  	the payments made by or on behalf of a Participant, usually each month in the Participant’s local currency in respect of the Participant’s Plan Percentage pursuant to a Share Purchase Agreement;
		
	“Participant”	  	an Eligible Employee who has entered in to Share Purchase Agreement to participate in the Plan pursuant to rule 3, or their estate following the Participant’s death;
		
	“Performance Condition”	  	a condition or conditions imposed under rule 2.1.5b) which relates to performance;
		
	“Performance Period”	  	the period over which a Performance Condition will be measured which, unless the Board determines otherwise, will be the Savings Period applicable to the Participant’s related Purchased Share Award;
		
	“Plan”	  	the rules of AbShare, in its present form or as from time to time amended;
		
	“Plan Percentage”	  	the percentage of base salary before deductions for income tax and/or social security contributions to be contributed to the Plan by Participants over the Savings Period, to be applied in the acquisition of Shares pursuant to a
Purchased Share Award;
		
	“Purchase Price”	  	the price payable for the Shares comprised in a Participant’s Awards, which, will be the sterling equivalent of the Participant’s aggregate Monthly Contributions at the end of the Savings Period;
		
	“Purchased Share Award”	  	a conditional right to acquire Shares in accordance with the rules of the Plan at the Purchase Price;
		
	“Savings Period”	  	a period, determined by the Board, over which Monthly Contributions are made by a Participant;
		
	“Share”	  	a fully paid ordinary share in the capital of the Company;
		
	“Share Purchase Agreement”	  	the agreement pursuant to which a Participant enrols in the Plan and agrees to make Monthly Contributions pursuant to rule 3.1.2;
		
	“Subsidiary”	  	the meaning given by section 1159 of the Companies Act 2006;
		
	“Tax Liability”	  	any tax or social security contributions liability in any jurisdiction in connection with the Plan for which the Participant is liable and for which any Group Member or former Group Member is obliged to account to any relevant
authority;

  
 4 

			
	“Vest”	  	 the point at which a Participant becomes entitled to receive the Shares pursuant to their Awards; and

 
 “Vesting” and “Vested” will be construed accordingly;
and

		
	“Vesting Date”	  	the date on which an Award Vests.

  

	1.2	 Unless the context otherwise requires, references in the Plan to: 

 

	 	1.2.1	 the singular include the plural and vice versa; and 

 

	 	1.2.2	 the masculine include the feminine and vice versa. 

 

	1.3	 Headings and explanatory wording do not form part of the Plan. 

 

	2.	 INVITATION 

  

	2.1	 When the Board operates the Plan, it will determine: 

 

	 	2.1.1	 the Eligible Employees to be invited to participate in the Plan; 

 

	 	2.1.2	 the Enrolment Period; 

 

	 	2.1.3	 the Plan Percentage; 

 

	 	2.1.4	 in respect of a Purchased Share Award: 

 

	 	a)	 the Savings Period; 

  

	 	b)	 the method by which the Purchase Price will be calculated; and 

 

	 	c)	 the method by which the number of Shares to be comprised in the Purchased Share Award will be calculated;

  

	 	2.1.5	 in respect of a Matching Share Award: 

 

	 	a)	 the Matching Share Award Ratio; 

 

	 	b)	 the Performance Condition; and 

 

	 	2.1.6	 any Holding Period and to which Matching Share Awards it will apply. 

 

	2.2	 Following its determination pursuant to rule 2.1, the Board will invite the Eligible Employees referred to in
rule 2.1.1 to enrol in the Plan. The invitation will include the information set out in rule 2.1 and be in such form as the Board determines. 

  

	2.3	 Where an individual who is not an Eligible Employee is subsequently employed on a permanent contract, the Board
may invite them to enrol in the Plan, notwithstanding that the Enrolment Period has ended. The Board will make the determinations as set out in rules 2.1.3 to 2.1.6, save that the Savings Period and the Plan Percentage will be pro-rated to reflect the proportion of the original Savings Period remaining at the time of their enrolment in the Plan. 

  
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	3.	 ENROLING IN THE PLAN 

 

	3.1	 During the Enrolment Period, an Eligible Employee who chooses to participate in the Plan must enter into a
Share Purchase Agreement, by which they agree to: 

  

	 	3.1.1	 participate in the Plan in accordance with its rules; 

 

	 	3.1.2	 permit Monthly Contributions to be made by or on their behalf by deductions from salary or otherwise for the
duration of the Savings Period, with the first Monthly Contribution being made as soon as practicable following the end of the Enrolment Period; and 

  

	 	3.1.3	 acquire Shares at the end of the Savings Period at the Purchase Price. 

 

	4.	 GRANT OF AWARDS 

 

	4.1	 Subject to rule 4.2, as soon as practicable following the end of the Enrolment Period the Board will grant a
Purchased Share Award and a Matching Share Award to each of those Eligible Employees who have entered into a Share Purchase Agreement pursuant to rule 3. 

  

	4.2	 Awards will be granted subject to obtaining any approval or consent required by the AIM Regulation (or other
relevant authority), any Dealing Restrictions and any other applicable laws or regulations (whether in the UK or overseas).     

  

	4.3	 Awards must be granted by deed (or in such other written form as the Board determines) and, as soon as
reasonably practicable after the Grant Date, Participants must be notified of the terms of their Award. 

  

	4.4	 Before the Shares to which Awards relate are issued or transferred to a Participant following Vesting, each
Participant will have no rights in respect of those Shares. 

  

	5.	 PERFORMANCE CONDITION 

 

	5.1	 Unless the Board determines otherwise, Matching Share Awards will be subject to the satisfaction of a
Performance Condition and subject to rules 13 and 14, the Performance Condition will be measured over the Performance Period. 

  

	5.2	 The Board may amend or substitute a Performance Condition if one or more events occur which cause the Board to
consider that a substituted or amended Performance Condition would be more appropriate and would not be materially less difficult to satisfy. 

  

	6.	 PLAN LIMITS 

  

	6.1	 The Board must not grant an Award which would cause the number of Shares allocated under the Plan and under any
other employee share plan adopted by the Company to exceed such number as represents ten per cent of the ordinary share capital of the Company in issue. 

  

	6.2	 Subject to rules 6.3 and 6.4, in determining the limit set out in rule 6.1, Shares are treated as allocated if,
on any day, they have been newly issued by the Company or transferred from treasury to satisfy an option, award or other right granted during the ten years prior to that day (an “award”), or in the case of such an award in respect of which
Shares are yet to be delivered, if the Board intends that new Shares will be issued or that Shares from treasury will be transferred and for these purposes the number of Shares allocated includes: 

 

	 	6.2.1	 Shares which have been issued or may be issued to any trustee; 

 

	 	6.2.2	 Shares which have been or may be transferred from treasury to any trustee; and 

 

	 	6.2.3	 in either case for the trustee to then transfer to satisfy an award (unless these Shares have already been
counted under this rule). 

  
 6 

	6.3	 The Board may determine that Shares transferred from treasury will cease to count as allocated for the purposes
of rule 6.3 if guidelines published by institutional investor representative bodies no longer require such Shares to be counted. 

  

	6.4	 The number of Shares allocated does not include: 

 

	 	6.4.1	 Shares that were allocated to satisfy awards to the extent that such awards have lapsed or been relinquished;

  

	 	6.4.2	 existing Shares (other than treasury Shares) which have been transferred to satisfy awards or which have been
allocated to satisfy awards; and 

  

	 	6.4.3	 Shares allocated in respect of awards which are then satisfied in cash. 

 

	6.5	 If the Board purports to grant one or more Awards which are inconsistent with the limits in this rule 6, each
such Award will be reduced as determined by the Board and will take effect from the Grant Date over the maximum number of Shares permitted by those limits. 

  

	6.6	 The Board may make such adjustments to the method of assessing the limit set out in rule 6.1 as it considers
appropriate in the event of any variation of the Company’s share capital.     

  

	6.7	 No Award may be granted under the Plan after the tenth anniversary of the date on which the Plan was adopted by
the Board. 

  

	7.	 VESTING OF THE PURCHASED SHARE AWARD 

 

	7.1	 Subject to rules 10, 12, 13 and 14, as soon as practicable following the end of the Savings Period, the
Purchased Share Award will Vest and the Purchase Price payable by the Participant will be applied in the acquisition of Shares, unless a Dealing Restriction applies to the Participant, in which case Shares will be acquired on the date on which such
Dealing Restriction lifts. 

  

	7.2	 Monthly Contributions are made in a currency other than the currency in which Shares are traded, they will be
converted into Sterling at the prevailing exchange rate before being used to acquire Shares. 

  

	7.3	 Subject to rules 10 and 11, the number of Shares to be acquired pursuant to rule 7.1 will be issued or
transferred to the Participant or as the Participant may direct within 30 days thereafter. 

  

	8.	 VESTING OF THE MATCHING SHARE AWARD 

 

	8.1	 Following the end of the Performance Period relating to a Matching Share Award, the Board will determine the
extent to which the Performance Condition has been satisfied and the extent to which the Matching Share Award will Vest. 

  

	8.2	 Subject to rules 10, 12, 13 and 14, a Matching Share Award will Vest to the extent determined pursuant to rule
8.1 on the date on which the Participant’s Shares are acquired pursuant to rule 7.1, unless on that date a Dealing Restriction applies to the Participant, in which case a Matching Share Award will Vest on the date on which such Dealing
Restriction lifts. 

  

	8.3	 Subject to rules 9, 10 and 11, the number of Shares to be acquired pursuant to rule 8.1 will be issued,
transferred or paid (as applicable) to the Participant or as the Participant may direct within 30 days thereafter. 

  

	9.	 THE HOLDING PERIOD 

 

	9.1	 Fifty per cent (or such other percentage as the Board may determine at the Grant Date) of the Shares comprised
in a Matching Share Award will be subject to a Holding Period on Vesting, provided that sufficient of the Shares comprised in that fifty per cent may be sold to meet a Participant’s Tax Liability. 

 

	9.2	 Shares that are subject to the Holding Period may not be sold, transferred or otherwise encumbered prior to the
day immediately following the last day of the Holding Period. 

  
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	10.	 TAXATION AND REGULATORY ISSUES 

 

	10.1	 A Participant will be responsible for and indemnifies each relevant Group Member against any Tax Liability. Any
Group Member may withhold an amount to settle such Tax Liability from any amounts due to the Participant (to the extent such withholding is not in breach of any applicable laws) and/or make any other arrangements as it considers appropriate to
ensure recovery of such Tax Liability including, without limitation, the sale of sufficient Shares acquired subject to one or more Awards or otherwise to realise an amount to settle the Tax Liability. A Participant will also be responsible for all
taxes and social security liabilities which they are obliged to account for directly to any tax authority in any jurisdiction in connection with the Plan. 

  

	10.1	 The Company, the Eligible Employees and the Participants are obliged to comply with any applicable laws and
regulations on insider dealing and any Company insider policies. 

  

	11.	 CASH EQUIVALENT 

 

	11.1	 At any time prior to Vesting of an Award, the Board may determine that in substitution for their right to
acquire some or all of the relevant Shares, the Participant will instead receive a cash sum. The cash sum will be equal to the market value on the Vesting Date of that number of the Shares which would otherwise have been issued or transferred less
the Purchase Price. 

  

	11.2	 The cash sum will be paid to the Participant as soon as practicable thereafter, net of any deductions
(including but not limited to any Tax Liability or similar liabilities) as may be required by local law. 

  

	12.	 WITHDRAWAL FROM THE PLAN 

 

	12.1	 Save as set out in this rule 12, Participants may not withdraw from the Plan prior to the end of the Savings
Period. 

  

	12.2	 If a Participant is suffering from extreme hardship, they may apply to the Board, in such form as the Board may
determine from time to time, to withdraw from the Plan.     

  

	12.3	 Within 14 days of receipt of an application pursuant to rule 12.2, the Board will consider the
Participant’s application and determine whether or not they may withdraw from the Plan. The Board will then communicate the outcome of such determination to the Participant. 

 

	12.4	 Where the Board has determined that the Participant is not suffering from extreme hardship, the Board will
communicate the rationale for its determination to the Participant and the Participant’s Monthly Contributions will continue. 

  

	12.5	 Where the Board has determined that the Participant is suffering from extreme hardship, the Board will
communicate its decision to the Participant as soon as reasonably practicable and the Participant’s Award will lapse immediately. The Participant will cease to make Monthly Contributions and the Participants aggregate Monthly Contributions will
be returned to them as soon as reasonably practicable. 

  

	13.	 CESSATION OF EMPLOYMENT 

 

	13.1	 Subject to rule 13.3, where a Participant ceases to hold office or employment with a Group Member before the
Vesting Date, their Awards will lapse. 

  

	13.2	 Where Awards lapse pursuant to rule 13.1, a Participant’s aggregate Monthly Contributions will be returned
to them as soon as practicable after the date of such cessation. 

  

	13.3	 Where a Participant ceases to hold office or employment with a Group Member before the Vesting Date as a result
of: 

  

	 	13.3.1	 death, ill-health, injury, retirement or disability as established to
the satisfaction of the Board; 

  

	 	13.3.2	 redundancy; 

  
 8 

	 	13.3.3	 the Participant’s employing company ceasing to be a Group Member or the transfer of an undertaking or part
of an undertaking (in which the Participant is employed) to a person who is not a Group Member; or 

  

	 	13.3.4	 any other reason at the Board’s discretion, except where a Participant is summarily dismissed, the
Participant’s Awards will not lapse. 

 Instead: 
  

	 	13.3.5	 the Participant will make no further Monthly Contributions to the Plan; 

 

	 	13.3.6	 the number of Shares comprised in the Participant’s Awards will be
pro-rated to reflect the aggregate Monthly Contributions that have been made at the date of cessation, and 

  

	 	13.3.7	 the Participant’s Purchased Share Award will Vest in accordance with rule 7 and the Participant’s
Matching Share Award will Vest in accordance with rule 8. 

  

	13.4	 For the purposes of the Plan, a person will be treated as ceasing to hold office or employment with a Group
Member on the last day of employment. 

 14. CORPORATE EVENTS 

 

	14.1	 Where any of the events described in rule 14.2 occur, all Awards which have not yet Vested will Vest at the
time of such event: 

  

	 	14.1.1	 in respect of the Purchased Share Award, on a pro-rata basis to reflect
the aggregate Monthly Contributions that have been made at the date of the event which will be applied to the acquisition of Shares; and 

  

	 	14.1.2	 in respect of the Matching Share Award, in full.     

 

	14.2	 The events referred to in rule 14.1 are: 

 

	 	14.2.1	 General offer 

If any person (either alone or together with any person acting in concert with him): 

 

	 	a)	 obtains Control of the Company as a result of making a general offer to acquire Shares; or

  

	 	b)	 already having Control of the Company, makes an offer to acquire all of the Shares other than those which are
already owned by him 

 and such offer becomes wholly unconditional. 

 

	 	14.2.2	 Scheme of arrangement 

A compromise or arrangement in accordance with section 899 of the Companies Act 2006 for the purposes of a change of Control of the Company is
sanctioned by the Court. 
  

	14.3	 Winding-up 

 

	 	14.3.1	 On the passing of a resolution for the voluntary winding-up or the
making of an order for the compulsory winding up of the Company, the Board will determine whether Awards which have not yet Vested will Vest at the time of the event. 

 

	 	14.3.2	 If the Board determines that Awards will Vest: 

 

	 	(a)	 Purchased Share Awards will Vest on a pro-rata basis to reflect the
aggregate Monthly Contributions that have been made at the date of the event, which will be applied to the acquisition of Shares; and 

  

	 	(b)	 Matching Share Awards will Vest in full. 

  
 9 

	 	14.3.3	 If the Board determines that Awards will not Vest, Awards will lapse and each Participant’s Monthly
Contributions will be returned to them. 

  

	14.4	 Other events 

  

	 	14.4.1	 If the Company is or may be affected by a demerger, delisting, special dividend or other event which, in the
opinion of the Board, may affect the current or future value of Shares to a material extent, the Board will determine whether Awards which have not yet Vested will Vest at the time of the event. 

 

	 	14.4.2	 If the Board determines that Awards will Vest: 

 

	 	(a)	 Purchased Share Awards will Vest on a pro-rata basis to reflect the
aggregate Monthly Contributions that have been made at the date of the event, which will be applied to the acquisition of Shares; and 

  

	 	(b)	 Matching Share Awards will Vest in full. 

 

	 	14.4.3	 If the Board determines that Awards will not Vest, Awards will lapse and each Participant’s Monthly
Contributions will be returned to them. 

  

	14.5	 Exchange 

An Award will not Vest under rule 14.1 but will be exchanged on the terms set out in rule 14.6 to the extent that there is an Internal
Reorganisation, unless the Board determines that an Award should Vest under rule 14.1. 
  

	14.6	 Exchange terms 

If this rule 14.6 applies, the Award will not Vest but will be exchanged in consideration of the grant of a new award (the “New
Award”) which, in the opinion of the Board, is equivalent to the Award, but relates to shares in a different company (whether the acquiring company or a different company). The rules of this Plan will be construed in relation to the New Award
as if: 
  

	 	14.6.1	 the New Award was an Award granted under the Plan at the same time as the Award; 

 

	 	14.6.2	 references to any Performance Conditions were references to such new performance conditions relating to the
business or shares of the company whose shares are subject to the New Award (or any member of its group as the Board may consider appropriate in the circumstances; 

 

	 	14.6.3	 references to the Company were references to the company whose shares are subject to the New Award; and

  

	 	14.6.4	 references to Shares were references to shares in the company whose shares are the subject of the New Award.

  

	14.7	 Meaning of Board 

Any reference to the Board in this rule 14 means the members of the Board immediately prior to the relevant event. 

 

	15.	 ADJUSTMENTS 

  

	15.1	 The number of Shares subject to an Award and/or the Purchase Price of those Shares may be adjusted in such
manner as the Board determines, in the event of: 

  

	 	15.1.1	 any variation of the share capital of the Company; or 

  
 10 

	 	15.1.2	 a demerger, delisting, special dividend or other event which may, in the opinion of the Board, affect the
current or future value of Shares. 

  

	16.	 AMENDMENTS 

  

	16.1	 The Board may at any time amend the rules of the Plan, provided that no amendment to the material disadvantage
of existing rights of Participants will be made unless: 

  

	 	16.1.1	 every Participant who may be affected by such amendment has been invited to indicate whether or not they
approve the amendment; and 

  

	 	16.1.2	 the amendment is approved by a majority of those Participants who have so indicated. 

 

	17.	 LEGAL ENTITLEMENT 

 

	17.1	 This rule 17 applies during a Participant’s employment with any Group Member and after the termination of
such employment. 

  

	17.2	 Nothing in the Plan or its operation forms part of the terms of employment of a Participant and the rights and
obligations arising from a Participant’s employment with any Group Member are separate from, and are not affected by, the Participant’s participation in the Plan. Participation in the Plan does not create any right to continued employment
for any Participant. 

  

	17.3	 The grant of an Award or the acquisition of Shares on behalf of a Participant does not create any right for
that Participant to be offered participation in the Plan in future or to be granted any additional Awards on any particular terms, including the number of Shares to which a Matching Share Award relates. 

 

	17.4	 By Participating in the Plan, a Participant waives all rights to compensation for any loss in relation to the
Plan, including: 

  

	 	17.4.1	 any loss or reduction of any rights or expectations under the Plan in any circumstances or for any reason;

  

	 	17.4.2	 any exercise of a discretion or a decision taken in relation to any Awards and/or to the Plan, or any failure
to exercise a discretion or take a decision; 

  

	 	17.4.3	 the operation, suspension, termination or amendment of the Plan. 

 

	18.	 GENERAL 

  

	18.1	 The Plan will terminate by the passing of a resolution by the Board. Termination of the Plan will be without
prejudice to the existing rights of Participants. 

  

	18.2	 Participants shall not be entitled to any dividends or have any voting rights or other shareholder rights until
the Shares have been issued or transferred to the Participant. 

  

	18.3	 The personal data of any Eligible Employee and of any person who holds or who has held an Award may be
processed in connection with the operation of the Plan in accordance with the Group’s prevailing data protection policy and as notified to Eligible Employees in accordance with GDPR. By participating in the Plan, a Participant consents
(otherwise than for the purposes of GDPR) to the processing of their personal data in connection with the operation of the Plan. 

  

	18.4	 The Plan will be administered by the Board. The Board will have full authority, consistent with the Plan, to
administer the Plan, including authority to interpret and construe any provision of the Plan and to adopt regulations for administering the Plan. Decisions of the Board will be final and binding on all parties. 

 

	18.5	 Any notice or other communication in connection with the Plan may be delivered personally or sent by electronic
means or post, in the case of a company to their registered office (for the attention of the company secretary or a person in a similar position), and in the case of an individual to their last known address, or, where the individual is a director
or employee of a Group Member, either to the director or employee’s last known address or to the address of the place of business at which the director or employee performs the

  
 11 

	 	
whole or substantially the whole of the duties of the director or employee’s office or employment. Where a notice or other communication is given by post, it will be deemed to have been
received 72 hours after it was put into the post properly addressed and stamped, and if by electronic means, when the sender receives electronic confirmation of delivery or if not available, 24 hours after sending the notice. 

 

	18.6	 The rules of the Plan will be governed by and construed in accordance with the laws of England and Wales. Any
person referred to in the Plan submits to the exclusive jurisdiction of the Courts of England and Wales. 

  
 12 

 Schedule 1 

Awards to Participants who are residents of the People’s Republic of China (“PRC”) 

The rules of the Plan will apply to Awards granted to Eligible Employees who are residents of the PRC, save as set out in this Schedule. 

 

	1.	 CESSATION OF EMPLOYMENT 

 

	1.1	 Rule 13 will be deleted and replaced with the following new rule 13: 

 

	 	“13.1	 Subject to rule 13.3, where a Participant ceases to hold office or employment with a Group Member before the
Vesting Date, their Awards will lapse. 

  

	 	13.2	 Where Awards lapse pursuant to rule 13.1, a Participant’s aggregate Monthly Contributions will be repaid
to them as soon as practicable after the date of such cessation. 

  

	 	13.3	 Where a Participant ceases to hold office or employment with a Group Member before the Vesting Date as a result
of: 

  

	 	13.3.1	 death, ill-health, injury, retirement or disability as established to
the satisfaction of the Board; 

  

	 	13.3.2	 redundancy; 

  

	 	13.3.3	 the Participant’s employing company ceasing to be a Group Member or the transfer of an undertaking or part
of an undertaking (in which the Participant is employed) to a person who is not a Group Member; or 

  

	 	13.3.4	 any other reason at the Board’s discretion, except where a Participant is summarily dismissed,

 the Participant’s Awards will not lapse. Instead: 

 

	 	13.3.5	 the Participant will make no further Monthly Contributions to the Plan and the number of Shares comprised in
the Participant’s Awards will be pro-rated to reflect the aggregate Monthly Contributions that have been made at the date cessation; 

 

	 	13.3.6	 the Board will determine the extent to which the Performance Condition relating to the Matching Share Award has
been satisfied at that time, and 

  

	 	13.3.7	 the Participant’s Purchased Share Award will Vest as soon as practicable following the date of cessation
in accordance with rule 7 and the Participant’s Matching Share Award will Vest as soon as practicable following the date of cessation in accordance with rule 8.     

 

	 	13.4	 For the purposes of the Plan, a person will be treated as ceasing to hold office or employment with a Group
Member on the last day of employment.” 

  
 13 

 Schedule 2 

Awards to Participants who are tax resident in the US 

The rules of the Plan will apply to Awards held by Participants, who are or who may become, subject to US tax or social security contributions liability in
connection with an Award, except as set out in this Schedule 2. Where there is any conflict between the rules of the Plan and this Schedule 2, the terms of this Schedule 2 will prevail. 

 

	1.	 VESTING OF AWARDS 

 

	1.1	 The following wording in rules 7.3 and 8.3 will be deleted: “within 30 days thereafter” and be
replaced with “no later than 31 December of the year in which Vesting occurs”. 

  

	2.	 CASH EQUIVALENT 

 

	2.1	 Rule 11.2 will be deleted and replaced with the following new rule 11.2: 

 

	 	“11.2	 The cash sum will be paid to the Participant as soon as practicable thereafter, and in any event, no later than
31 December of the year in which Vesting occurs, net of any deductions (including but not limited to any Tax Liability or similar liabilities) as may be required by local law.” 

 

	3.	 CESSATION OF EMPLOYMENT 

 

	3.1	 Rule 13 will be deleted and replaced with the following new rule 13: 

 

	 	“13.1	 Subject to rule 13.3, where a Participant ceases to hold office or employment with a Group Member before the
Vesting Date, their Awards will lapse. 

  

	 	13.2	 Where Awards lapse pursuant to rule 13.1, a Participant’s aggregate Monthly Contributions will be repaid
to them as soon as practicable after the date of such cessation. 

  

	 	13.3	 Where a Participant ceases to hold office or employment with a Group Member before the Vesting Date as a result
of: 

  

	 	13.3.1    death,	 ill-health, injury, retirement or disability as established to the
satisfaction of the Board; 

  

	 	13.3.2	 the Participant’s employing company ceasing to be a Group Member or the transfer of an undertaking or part
of an undertaking (in which the Participant is employed) to a person who is not a Group Member; or 

  

	 	13.3.3	 any other reason at the Board’s discretion, except where a Participant is summarily dismissed,

 the Participant’s Awards will not lapse. Instead: 

 

	 	13.3.4	 the Participant will make no further Monthly Contributions to the Plan and the number of Shares comprised in
the Participant’s Awards will be pro-rated to reflect the aggregate Monthly Contributions that have been made at the date cessation; 

 

	 	13.3.5	 the Board will determine the extent to which the Performance Condition relating to the Matching Share Award has
been satisfied at that time, and 

  

	 	13.3.6	 the Participant’s Purchased Share Award will Vest as soon as practicable following the date of cessation
in accordance with rule 7 and the Participant’s Matching Share Award will Vest as soon as practicable following the date of cessation in accordance with rule 8.     

  
 14 

	 	13.4	 For the purposes of the Plan, a person will be treated as ceasing to hold office or employment with a Group
Member on the last day of employment.” 

  

	4.	 ADJUSTMENTS 

  

	4.1	 The following rule 15.2 will be added to rule 15: 

“Notwithstanding the provisions of this rule 15, any such adjustment will only be effective to the extent that it complies with s.409A of
the US Internal Revenue Code of 1986 as amended from time to time.” 
  

	5.	 AMENDMENTS 

  

	5.1	 The following rule 16.2 will be added to rule 16: 

“Notwithstanding the provisions of this rule 16, any such amendment will only be effective to the extent that it complies with s.409A of
the US Internal Revenue Code of 1986 as amended from time to time.” 

  
 15 

 

 
 Our new global share plan 

 

 
 Our new global share plan Over a year ago, what started as an idea to further share the success of Abcam with
our people, is now made real. Welcome to AbShare Our new global share plan which we hope you will find as exciting as we do. Why are we so excited about AbShare? Share in our success Our success as a company relies on us attracting The opportunity
to become an Abcam shareholder is open to all and retaining great talent and AbShare allows permanent Abcam employees, globally. us do this by offering a generous employee shareholder plan. By us all delivering our mission Invest in Abcam Under the
plan, you invest 1.67% of your base (gross) salary a year, split together – to serve life scientists to achieve their into monthly instalments, for three years, to buy Abcam shares. This is a mission, faster – we all contribute to, and
share total of 5% of your base salary over three years. In return, you will in, the success of the company. receive a x10 match from the company, subject to satisfaction of performance conditions. The better that we perform, the better the benefits
for everyone, including our customers. Simple and easy It’s a simple plan. Regardless of your role or where you are based, it’s always 5% over three years. Once you sign up, your contribution will be automatically deducted from your base
(gross) salary every payroll for three years. 

 

 
 How does AbShare work? Base salary: £30,000 It’s simple Payroll deduction: £1,500 (5%)
Employee Award Abcam Award There are two parts to AbShare: £12 £1.5k/£12 = Share Price 10 X 125 (employee award) = 12 5 shares 1, 25 0 shares Your contribution (the 1 Employee award) and Three-year period, after which: That of the
company Subject to continuous Subject to continuous employment employment, profitability & growth 2 (the Abcam award) Employee share purchase – your payroll Abcam award – 50% of the award will be deductions over the three-year
period will be £14 released with no restriction, with the other Under the plan, you contribute 5% of your base used to pay the share acquisition price and 50% released with a restriction on sale for a Share Price (gross) salary over three
years (1.67% per year) the shares will be released from the plan. further 12-months. to buy Abcam shares subject to one condition. In return, you will receive a x10 match from Employee Award released Abcam
Award released Abcam, subject to satisfaction of performance 125 shares 1,25 0 shares conditions. It’s a simple plan – 5% over three years Total shares: 1,375* regardless of your role or where you’re based – Gross value:
£19,250 and if you choose to join, once you sign up, *subject to achievement of performance conditions. your contribution will be automatically (After three years you own all of the shares. If you choose to deducted from your base salary every
payroll sell, you can sell up to 50% of your Abcam award straight for three years. away. You can sell the remaining 50% one year later.) 

 

 
 How do I participate? Joining is easy Decide. Who is eligible to join AbShare? Before you can decide if AbShare
is for you, it’s important that you read all the information we’ve provided on this site. You should do your own research The opportunity to become an specific to your personal circumstances before making any decisions. Abcam shareholder
through AbShare is open to all permanent Abcam Enrol. employees, globally. If you choose to If you choose to participate, the enrolment window for current permanent participate, the enrolment window employees will be open from 12th September to 12th
October 2018. This is the will be open from 12th September to only chance for current employees to join. To enrol, visit the AbShare hub and 12th October 2018. This is the only click on enrol. chance for current employees to join. Invest. New
joiners commencing permanent You invest 1.67% of your base (gross) salary a year, split into monthly employment with Abcam before 1st October 2020 (and those moving instalments, for three years. This is a total of 5% of your base (gross) salary,
over three years. Your investment purchases the equivalent value in Abcam from temporary to permanent shares at an agreed price at the end of the three-year period. contracts) will be eligible to participate in AbShare on a pro-rated Award. basis. Abcam matches your shares x10 subject to satisfaction of performance Employees commencing permanent conditions. employment with the company after Benefit. 1st October 2020 will not be
eligible You benefit from any increase in share price over the three-year period and to participate in AbShare. beyond. Remember the share price can go down as well as up. 

 

 
 Conditions Conditions of AbShare If you leave Abcam, the treatment of your Employee Award award depends on the
circumstances of your The Employee award will be released to you if you remain employed by departure: Abcam for the three-year period. § Resignation and dismissals: If you leave Abcam by resignation or dismissal during the Abcam Award
three-year period, you leave AbShare. You will be refunded your contributions to date. The Abcam award will be released subject to the following conditions: § Redundancy (‘layoffs’ in the US), retirement, You need to be continuously
employed by Abcam, from when ill health or death: You (or your dependants in the case of death) will still participate on 1 you join the plan to the end of the three-year period – i.e. the a pro-rated
basis. employee award conditions have been met. If you are on maternity, paternity or long-term Abcam must remain profitable over the three financial years from sick leave during the period of participation, 2 1st July 2018 to 30th June 2021. you
are still employed by Abcam and therefore your contributions and participation in the plan continue as normal. If your reduced pay does Abcam must see revenue growth over the three financial years not cover your contributions, Abcam will fund 3 from
1st July 2018 to 30th June 2021. the difference for you. Find out more about profit & revenue growth in our Performance Conditions summary. 

 

 
 Timeline and dates to remember 12th Sep 2018 Nov 2018 Nov 2021 Enrolment window opens Awards granted
Performance conditions assessed and shares released Restriction period (50% of Abcam award) commences Ongoing Continue being a shareholder Enrolment window closes Sale restriction period ends th (remaining 50% of Abcam award) 12 Oct 2018 Nov 2022
Meet Simone, and try our Share Plan calculator See our example employee, Simone, and how her contributions might look with three different market conditions applied in our Scenarios document. You can also enter your own salary into our AbShare
Calculator. 

 

 
 Ready to go? Once you have read all the information on our AbShare hub and carried out your own research as necessary specific to your
personal What are the tax circumstances, if you decide to participate you can enrol by visiting the implications of AbShare? AbShare hub and clicking on enrol. Your AbShare awards will be The enrolment window for current permanent employees will be
open from subject to the local tax and 12th September to 12th October 2018. This is the only chance for current social security legislation of employees to join. your jurisdiction. Abcam will withhold tax and social security New to Abcam? as
required under local law. New joiners – i.e. permanent employees – who join Abcam between 12th You can find out more about October 2018 and 31st October 2020, will be given the opportunity to this in the tax guide, available participate on
a pro-rated basis when they join Abcam. on the AbShare Hub. You should explore your own situation. Questions All questions should be directed to ##.####@#####.### 

 

 
 Participation in AbShare is entirely voluntary and you are under no obligation to join. Before making the
decision to join please ensure that you have read the relevant information. If you decide to participate in AbShare, it is a three year commitment. Changes in the Abcam share price and foreign exchange rates (for those outside the UK) may affect the
amount you ultimately receive, as well as the performance of the company as tested by the performance condition. AbShare is governed by the rules of the plan, and if there is any conflict between the information on this site and the plan rules, then
the plan rules shall prevail. For Chinese nationals, participation is subject to approval from the regulatory authorities (SAFE) which has not yet been confirmed. The tax information in this website is intended as general guidance only. It is
assumed that you are a national of and domiciled and resident in one country for tax purposes and have been/will be at all material times. It is also assumed that you are an employee of Abcam in each relevant country and have been/will be at all
material times. The precise tax implications of participation in AbShare may vary depending on your personal circumstances and if you have any doubts or concerns about your personal tax position you should contact a professional financial adviser.EX-10.3

 Exhibit 10.3 

Abcam plc 
 Share
Incentive Plan 
 Date of Adoption by Company: 

Approved by Shareholders at General Meeting: 

HMRC Reference: A103032 

Date of Self- Certification: TBC 

 Index 
  

							
	 1
	  	 Definitions
	  	 	1	 
	 2
	  	 Purpose Of The Plan
	  	 	4	 
	 3
	  	 Eligibility of Individuals
	  	 	4	 
	 4
	  	 Participation On Same Terms
	  	 	5	 
	 5
	  	 Award Of Free Shares
	  	 	5	 
	 6
	  	 Awards Of Partnership Shares
	  	 	6	 
	 7
	  	 Awards Of Matching Shares
	  	 	8	 
	 8
	  	 Awards Of Dividend Shares
	  	 	8	 
	 9
	  	 Contributions To Be Made By Participating Companies
	  	 	9	 
	 10
	  	 Acquisition Of Free Shares and Matching Shares
	  	 	10	 
	 11
	  	 Shares To Be Appropriated Or Acquired
	  	 	10	 
	 12
	  	 Company Reconstructions
	  	 	10	 
	 13
	  	 Rights Issues
	  	 	10	 
	 14
	  	 Cessation of Employment
	  	 	11	 
	 15
	  	 The Issue Of Shares and Costs
	  	 	11	 
	 16
	  	 Employee Rights
	  	 	11	 
	 17
	  	 Amendments
	  	 	11	 
	 18
	  	 Transfer Of Legal Title
	  	 	12	 
	 19
	  	 Notices
	  	 	12	 
	 20
	  	 Termination
	  	 	12	 
	 21
	  	 Miscellaneous
	  	 	14	 
	 22
	  	 Sub-Plans
	  	 	14	 
	 23
	  	 Governing Law
	  	 	14	 

			
	Abcam plc	  	Share Incentive Plan  

  

	1	 Definitions 

  

	1.1	 In these Rules the following words and expressions shall have the following meanings:- 

 

			
	 “Accumulation Period”
	  	in relation to Partnership Shares, the period during which the Trustees accumulate a Qualifying Employee’s Partnership Share Money before acquiring Partnership Shares or repaying it to such Qualifying Employee
		
	 “Acquisition Date”
	  	(a) in relation to Partnership Shares where there is no Accumulation Period, the meaning given by paragraph 50(4) of the Schedule;
		
		  	(b) in relation to Partnership Shares where there is an Accumulation Period, the meaning given by paragraph 52(5) of the Schedule; and
		
		  	(c) in relation to Dividend Shares, the meaning given by paragraph 66(4) of the Schedule
		
	 “Associated Company”
	  	shall have the same meaning as in paragraph 94 of the Schedule
		
	 “Award Date”
	  	in relation to Free Shares or Matching Shares, the date on which such Shares are awarded
		
	 “Award”
	  	(a) in relation to Free Shares and Matching Shares, the appropriation of Free Shares and Matching Shares in accordance with the Plan; and
		
		  	(b) in relation to Partnership Shares, the acquisition of Partnership Shares on behalf of Qualifying Employees in accordance with the Plan
		
	 “Board”
	  	the board of directors of the Company or the directors present at a duly convened meeting of the directors of the Company at which a quorum is present or a duly authorised committee thereof
		
	 “Capital Receipt”
	  	shall have the same meaning as in section 502 of ITEPA
		
	 “Close Company”
	  	shall have the same meaning as in section 414 of ICTA as modified by paragraph 20 (4) of the Schedule
		
	 “Company”
	  	Abcam plc (registered number 03509322)
		
	 “Connected Company”
	  	shall have the same meaning as in paragraph 18(3) of the Schedule
		
	 “Control”
	  	shall have the same meaning as in section 840 ICTA
		
	 “Dealing Day”
	  	a day on which the London Stock Exchange is open for the transaction of business
		
	 “Deed”
	  	Abcam plc UK Employee Benefit Trust which is the the deed on the terms set out in Appendix C which established the Plan
		
	 “Disqualifying Event”
	  	shall have the meaning given in paragraph 84 of the Schedule
		
	 “Dividend Shares”
	  	Shares acquired on behalf of a Participant from reinvestment of dividends under Rule 8
		
	 “Free Share Agreement”
	  	an agreement in the terms set out in Appendix A referred to as a Bonus Share Agreement for the purpose of employee communications

  
  

Pg.1 

			
	Abcam plc	  	Share Incentive Plan  

  

			
	 “Free Shares”
	  	Shares awarded under Rule 5 of the Plan
		
	 “Group Plan”
	  	the Plan if the Plan is extended to the Company’s subsidiaries which are Participating Companies.
		
	 “Holding Period”
	  	(a) in relation to Free Shares, the period specified by the Company as described more fully in Rule 5.10;
		
		  	(b) in relation to Matching Shares, the period specified by the Company as described more fully in Rule 7.6; and
		
		  	(c) in relation to Dividend Shares, the period of three years from the Acquisition Date
		
	 “ICTA”
	  	the Income and Corporation Taxes Act 1988
		
	 “Initial Market Value”
	  	the Market Value of a Share on an Award Date and where the Share is subject to a restriction or risk of forfeiture, the Market Value shall be determined without reference to that restriction or risk
		
	 “ITEPA”
	  	the Income Tax (Earnings and Pensions) Act 2003
		
	 “ITTOIA”
	  	the Income Tax (Trading and Other Income) Act 2005
		
	 “Market Value”
	  	(a) on any day when the Shares have not been admitted to the Daily Official List of, and to trading on the main market, the London Stock Exchange the market value of a Share determined in accordance with the provisions of Part
VIII of the Taxation of Chargeable Gains Act 1992 and agreed for the purposes of the Plan with HM Revenue & Customs Shares and Asset Valuation on or before that day; or
		
		  	(b) on any day when the Shares have been admitted to the Daily Official List of the London Stock Exchange:-
		
		  	(i)    where all of the Shares are purchased and awarded by the Trustees on the Acquisition or Award Date, the price at which such Shares are purchased. Where Shares are purchased at different times during the
Acquisition Date or Award Date and at different prices, the average of the prices paid by the Trustees in the purchase of the Shares; or
		
		  	(ii)    where all of the Shares are purchased by the Trustees on different days, the middle market quotation for shares of the class as derived from the Daily Official List of the London Stock Exchange on the
Dealing Day immediately preceding the day when the Shares are awarded; or
		
	 “Matching Shares”
	  	Shares awarded under Rule 7 of the Plan
		
	 “Material Interest”
	  	shall have the same meaning as in paragraph 20 of the Schedule
		
	 “NICs”
	  	employees’ National Insurance Contributions
		
	 “Participant”
	  	an individual who has received under the Plan an Award of Free Shares, Matching Shares or Partnership Shares, or on whose behalf Dividend Shares have been    
acquired

  
  

Pg.2 

			
	Abcam plc	  	Share Incentive Plan  

  

			
	 “Participating Company”
	  	the Company and such of its Subsidiaries as have executed deeds of adherence to the Plan under clause 18 of the Deed
		
	 “Partnership Shares”
	  	Shares awarded under Rule 6 of the Plan
		
	 “Partnership Share Agreement ”
	  	An agreement in the terms set out in Appendix B which shall, inter alia, contain a notice under paragraph 48 of the Schedule referred to in employee communications as an Investment Share Agreement
		
	 “Partnership Share Money”
	  	This is money deducted from a Participant’s Salary pursuant to a Partnership Share Agreement and held by the Trustees who may either use such money to acquire Partnership Shares or return such money to such Participant
..
		
	 “Performance Allowances”
	  	the criteria attached to an Award of Free Shares where:-
		
		  	(a)    whether Shares are awarded; or
		
		  	 (b)    the number or value of Shares awarded,

is conditional on the satisfaction of performance targets set by the Board

		
	 “Performance Period”
	  	shall have the meaning given in Rule 5.5(a)
		
	 “Plan”
	  	the Abcam plc Share Incentive Plan
		
	 “Plan Shares”
	  	(a) Free Shares, Matching Shares or Partnership Shares awarded to Participants;
		
		  	(b) Dividend Shares acquired on behalf of Participants, and
		
		  	(c) shares in relation to which paragraph 87(1) (company reconstructions: new shares) of the Schedule applies that remain subject to the Plan
		
	 “Plan Termination Notice”
	  	a notice issued under paragraph 89 of the Schedule
		
	 “Plan Dividends”
	  	shall have the meaning given in Rule 8.2
		
	 “Qualifying Corporate Bond”
	  	shall have the same meaning as in section 117 of the Taxation of Chargeable Gains Act 1992
		
	 “Qualifying Employee”
	  	an employee who must be invited to participate in an Award in accordance with Rule 3.5 and any employee who the Company has invited to participate in an Award in accordance with Rule 3.6
		
	 “Qualifying Period”
	  	(a) in the case of Free Shares such period of time ending on the Award Date as is determined by the Board which shall not exceed 18 months
		
		  	(b) in the case of Partnership Shares and Matching Shares where there is an Accumulation Period such period of time ending on the start of the Accumulation Period as is determined by the Board which shall not exceed 6
months
		
		  	(c) in the case of Partnership Shares and Matching Shares where there is no Accumulation Period such period of time ending on the date on which Partnership Share Money relating to such Award is deducted as is determined by the
Board which shall not exceed 18 months

  
  

Pg.3 

			
	Abcam plc	  	Share Incentive Plan  

  

			
	 “Redundancy”
	  	the same meaning as in the Employment Rights Act 1996
		
	 “Relevant Employment”
	  	employment by the Company or any Associated Company
		
	 “Rules”
	  	the rules of the Plan as amended from time to time
		
	 “Salary”
	  	the same meaning as in paragraph 43(4) of the Schedule
		
	 “Schedule”
	  	Schedule 2 to ITEPA
		
	 “Shares”
	  	ordinary shares in the capital of the Company which comply with the conditions set out in paragraph 25 of the Schedule
		
	 “Subsidiary”
	  	any company which is for the time being under the Control of the Company
		
	 “Tax Year”
	  	a year beginning on 6 April and ending on the following 5 April
		
	 “Treasury Shares”
	  	Shares qualifying as treasury shares in accordance with section 162 of the Companies Act 1985
		
	 “Trustees”
	  	the trustees or trustee of the Plan
		
	 “Trust Fund”
	  	all assets transferred to the Trustees to be held on the terms of the Deed and the assets from time to time representing such assets, including any accumulations of income
		
	 “Trust Period”
	  	the period of 80 years beginning with the date of the Deed

  

	1.2	 References to any act, part, chapter, or section (including ICTA and ITEPA) shall include any statutory
modification, amendment or re-enactment of that act, for the time being in force. 

  

	1.3	 Where the context so admits or requires, words importing the singular shall include the plural and vice versa,
and words importing the masculine shall include the feminine. 

  

	1.4	 Headings, notes and footnotes to these Rules are included for convenience only and shall not affect the
interpretation or construction of these Rules. 

  

	1.5	 References to a “company” shall be construed so as to include any company, corporation or other body
corporate, wherever and however incorporated or established. 

  

	1.6	 References to a “person” shall be construed so as to include any individual, firm, company,
government, state or agency of a state, local or municipal authority or government body or any joint venture, association or partnership (whether or not having a separate legal personality). 

 

	2	 Purpose Of The Plan 

 

	2.1	 The purpose of the Plan is to enable employees of Participating Companies to acquire shares in a company which
give them a continuing stake in that company. 

  

	3	 Eligibility of Individuals 

 

	3.1	 Individuals are eligible to participate in an Award only if:- 

 

	 	(a)	 they are employees of a Participating Company; 

  
  

Pg.4 

			
	Abcam plc	  	Share Incentive Plan  

  

	 	(b)	 they have been employees of a qualifying company within the meaning of paragraph 17 of the Schedule at all
times during any Qualifying Period; 

  

	 	(c)	 they are eligible to participate on the date(s) set out in paragraph 14 of the Schedule; and

  

	 	(d)	 they do not fail to be eligible under Rule 3.2 or Rule 3.3. 

 

	3.2	 Individuals are not eligible to participate in an Award if they have, or within the preceding twelve months
have had, a Material Interest in:- 

  

	 	(a)	 a Close Company whose shares may be appropriated or acquired under the Plan; or 

 

	 	(b)	 a company which has Control of such a company or is a member of a consortium which owns such a company.

  

	3.3	 Individuals are not eligible to participate in an Award of Free Shares, Partnership Shares or Matching Shares
in any Tax Year under the Plan if in that Tax Year they are at the same time participating in an award of shares under another share incentive plan (“Other Plan”) established by the Company or a Connected Company and approved under the
Schedule or if they would have received such an award but for their failure to meet a Performance Allowance (see Rule 5.5). 

  

	3.4	 If an individual participates in an Award of Shares under the Plan in a Tax Year in which he has already
participated in other approved Share Incentive Plan(s) under the Schedule the limits set out in paragraphs 35 (Rule 5.3) and 46 (Rule 6.2) of the Schedule apply as if the Plan and any other approved Share Incentive Plan(s) under the Schedule are a
single plan. 

  

	3.5	 All individuals who meet the requirements in Rule 3.1 and are UK resident taxpayers (within the meaning of
paragraph 8 (2) of the Schedule) shall be eligible to receive an Award and shall also be invited to participate in any Awards granted. 

  

	3.6	 The Company may also invite any employee who meets the requirements in Rule 3.1 but is not a UK taxpayer (as
defined in 3.5 above) to participate in an Award. 

  

	4	 Participation On Same Terms 

 

	4.1	 Subject to Rule 4.2, every Qualifying Employee shall be invited to participate in an Award on the
same terms and all Qualifying Employees who do participate in an Award shall do so on the same terms. 

  

	4.2	 Notwithstanding Rule 4.1, the Company may make an Award of Free Shares to Qualifying Employees by reference
to:- 

  

	 	(a)	 their remuneration; 

  

	 	(b)	 their length of service; 

 

	 	(c)	 the hours they work; and/or 

 

	 	(d)	 the satisfaction of Performance Allowances. 

 

	5	 Award Of Free Shares 

 

	5.1	 Every Qualifying Employee that wishes to be granted an Award of Free Shares shall enter into a Free Share
Agreement with the Company. 

  

	5.2	 The Trustees may from time to time award Free Shares to Qualifying Employees. 

 

	5.3	 The number of Free Shares to be awarded by the Trustees to a Qualifying Employee on an Award Date shall be
determined by the Board save that the Initial Market Value of Free Shares awarded to a Qualifying Employee in any Tax Year shall not exceed the prescribed limit specified in the Schedule. 

 

	5.4	 The Board may stipulate that the number of Free Shares (if any and subject to Rule 5.3) to be awarded to each
Qualifying Employee on a given Award Date shall be determined by reference to Performance Allowances. 

  

	5.5	 If Performance Allowances are used in connection with a particular Award of Free Shares, Performance Allowances
shall apply to that entire Award of Free Shares to all Qualifying Employees and must satisfy the following conditions:- 

  

	 	(a)	 they shall be determined by reference to such fair and objective criteria relating to business results as the
Board shall determine and over such period as the Board shall specify (the “Performance Period”); 

  

	 	(b)	 the criteria must be set for performance units consisting of one or more employees; and 

 

	 	(c)	 a Qualifying Employee must not be a member of more than one performance unit. 

 

	5.6	 Where the Board determines to use Performance Allowances in connection with an Award of Free Shares it shall,
as soon as reasonably practicable:- 

  

	 	(a)	 notify each Qualifying Employee participating in the Award of the criteria which shall be used to determine the
number or value of Free Shares awarded to such Qualifying Employee; and 

  
  

Pg.5 

			
	Abcam plc	  	Share Incentive Plan  

  

	 	(b)	 notify all Qualifying Employees of the Company or, in the case of a Group Plan, of any Participating Company,
in general terms, of the criteria to be used to determine the number or value of Free Shares to be awarded to each Qualifying Employee in the Award. 

  

	5.7	 Without prejudice to Rule 5.5, the Board shall determine the number of Free Shares (if any) to be awarded to
each Qualifying Employee by reference to performance using either “Method 1” or “Method 2” (as such terms are described more fully in Rules 5.8 and 5.9 respectively). The same method shall be used for all Qualifying Employees for
each Award of Free Shares. 

  

	5.8	 If the Board determines to use Method 1:- 

 

	 	(a)	 at least 20% of Free Shares awarded in any Performance Period shall be awarded without reference to
performance; 

  

	 	(b)	 the remaining Free Shares shall be awarded by reference to performance; 

 

	 	(c)	 the greatest number of Free Shares awarded to a Qualifying Employee by reference to performance (Rule 5.8(b))
shall be no more than four times the greatest number of Free Shares awarded to a Qualifying Employee without reference to performance(Rule 5.8(a)); and 

  

	 	(d)	 the Board shall determine the number of Free Shares awarded to a Qualifying Employee without reference to
performance (Rule 5.8(a)) in accordance with Rule 4. 

  

	5.9	 If the Board determines to use Method 2:- 

 

	 	(a)	 some or all Free Shares shall be awarded by reference to performance; 

 

	 	(b)	 the Award of Free Shares to Qualifying Employees who are members of the same performance unit shall be made on
the same terms in accordance with Rule 4; 

	 	(c)	 the Board shall determine the number of Shares awarded to a Qualifying Employee without reference to
performance (Rule 5.9) in accordance with Rule 4; and 

	 	(d)	 Free Shares awarded for each performance unit shall be treated as separate Awards. 

Holding Period 
  

	5.10	 The Company shall, in relation to each Award of Free Shares, specify the Holding Period in relation to such
Award throughout which a Participant shall be bound by the terms of the Free Share Agreement which shall commence on the Award Date and which shall be no less than three years and no more than five years. 

 

	5.11	 The Holding Period specified pursuant to Rule 5.10 shall be the same for all Participants who receive an Award
of Free Shares at the same time and may not be increased following the Award Date. 

  

	5.12	 A Participant may during the Holding Period direct the Trustees:- 

 

	 	(a)	 to accept an offer for any of his Free Shares if the acceptance or agreement shall result in a new holding
being equated with those Shares for the purposes of capital gains tax; or 

  

	 	(b)	 to accept an offer of a Qualifying Corporate Bond (whether alone or with other assets or cash or both) for his
Free Shares if the offer forms part of such a general offer as is mentioned in paragraph (c); or 

  

	 	(c)	 to accept an offer of cash, with or without other assets, for his Free Shares if the offer forms part of a
general offer which is made to holders of shares of the same class as his shares, or to holders of shares in the same company and which is made in the first instance on a condition such that if it is satisfied the person making the offer shall have
control of that company, within the meaning of section 416 ICTA; or 

  

	 	(d)	 to agree to a transaction affecting his Free Shares or such of them as are of a particular class, if the
transaction would be entered into pursuant to a compromise, arrangement or scheme applicable to or affecting:- 

  

	 	(i)	 all of the ordinary share capital of the Company or, as the case may be, all the shares of the class in
question; or 

  

	 	(ii)	 all the shares, or all the shares of the class in question, which are held by a class of shareholders
identified otherwise than by reference to their employment or their participation in a share incentive plan approved under the Schedule. 

  

	6	 Awards Of Partnership Shares 

 

	6.1	 The Company may at any time invite every Qualifying Employee to enter into a Partnership Share Agreement with
the Company. For the avoidance of doubt, the Partnership Share Agreement shall contain no provision pursuant to which Partnership Shares may be forfeited. 

  

	6.2	 The Partnership Share Agreement shall prescribe, inter alia, the amount of Partnership Share Money that is to
be deducted from a Qualifying Employee’s Salary save that:- 

  
  

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	 	(a)	 if the deduction is made annually it may not exceed the prescribed limit specified in the Schedule in a Tax
Year; and 

  

	 	(b)	 if the deduction is made monthly it may not exceed the monthly proportion of the prescribed limit specified in
the Schedule in any month. If the Qualifying Employee’s salary is not paid at monthly intervals the prescribed limit should be calculated proportionately; and 

 

	 	(c)	 the amount of Partnership Share Money deducted from an employee’s Salary in a Tax Year shall not exceed
10% of the employee’s Salary in that Tax Year. 

  

	6.3	 Any amount of Salary deducted in excess of the limits set out in Rule 6.2 shall be paid over to the Qualifying
Employee, subject to both deduction of income tax under PAYE and NICs, as soon as practicable after such deduction is made. 

  

	6.4	 The minimum amount to be deducted under the Partnership Share Agreement on any occasion shall be determined by
the Board save that this amount shall be the same for all Qualifying Employees and shall not exceed £10. 

  

	6.5	 The Company may specify the maximum number of Shares to be included in an Award of Partnership Shares provided
that any relevant Partnership Share Agreement in respect of which this maximum number of Shares relates shall contain an undertaking by the Company to notify each Qualifying Employee of such maximum. 

 

	6.6	 The notification that the Company undertakes to give pursuant to Rule 6.5 shall be given:-

  

	 	(a)	 if there is no Accumulation Period relating to the Award, before the deduction of the Partnership Share Money
relating to the Award; and 

  

	 	(b)	 if there is an Accumulation Period relating to the Award, before the beginning of such Accumulation Period.

 No Accumulation Period 
  

	6.7	 If there is no Accumulation Period relating to the Award, the Trustees shall acquire Shares on behalf of the
Qualifying Employee using the Partnership Share Money on the Acquisition Date. The number of Shares acquired on behalf of each Participant shall be determined by dividing the relevant amount of Partnership Share Money by the Market Value of a Share
on the Acquisition Date. 

 Accumulation Period 

 

	6.8	 If there is an Accumulation Period relating to the Award, the Trustees shall acquire Shares on behalf of the
Qualifying Employee using Partnership Share Money on the Acquisition Date. The number of Shares acquired on behalf of each Participant shall be determined by dividing the relevant amount of Partnership Share Money by the lower of:-

  

	 	(a)	 the Market Value of a Share at the beginning of the Accumulation Period; and 

 

	 	(b)	 the Market Value of a Share on the Acquisition Date. 

In the event that the Partnership Share Money is insufficient to acquire on the Acquisition Date the number of Shares determined under this
Rule 6.8, the Company shall procure that the necessary funds are provided to the Trustees either by itself or by the Participating Companies to enable the Trustees to acquire the necessary number of Shares on behalf of the Qualifying Employee. 

 

	6.9	 If a transaction occurs during an Accumulation Period which results in a new holding of shares being equated
for the purposes of capital gains tax with any of the shares to be acquired under the Partnership Share Agreement, the Qualifying Employee may agree that the Partnership Share Agreement shall have effect after the time of that transaction as if it
were an agreement for the purchase of shares comprised in the new holding. 

  

	6.10	 Any surplus Partnership Share Money remaining after the acquisition of Shares by the Trustees pursuant to Rules
6.7 or 6.8:- 

  

	 	(a)	 may, with the agreement of the Participant, either be:- 

 

	 	(i)	 carried forward to the next Accumulation Period (if there is an Accumulation Period relating to the next
Award), or 

  

	 	(ii)	 carried forward and added to the next deduction (if there is no Accumulation Period relating to the next
Award); and 

  

	 	(b)	 in any other case, shall be paid over to the Participant, subject to the deduction of both income tax under
PAYE and NICs, as soon as practicable after the Acquisition Date. 

  

	6.11	 If the Company receives applications for Partnership Shares exceeding the Award maximum determined in
accordance with Rule 6.5 the following steps shall be taken in the order set out below until such excess is eliminated:- 

  

	 	(a)	 the excess of the monthly or annual deduction chosen by each applicant over £10 shall be reduced pro
rata; 

  

	 	(b)	 all monthly or annual deductions shall be reduced to £10; 

 

	 	(c)	 applications shall be selected by lot, each based on a monthly or annual deduction of £10.

  
  

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	6.12	 Each application shall be deemed to have been modified or withdrawn in accordance with Rule 6.11 and each
Qualifying Employee who has applied for Partnership Shares shall be notified of the change as soon as is reasonably practicable after such change is made. 

  

	6.13	 A Participant may withdraw from a Partnership Share Agreement at any time by notice in writing to the Company.
Unless a later date is specified in the notice, such notice shall take effect 30 days after it is received by the Company. Any Partnership Share Money then held on behalf of an employee shall be paid over to that employee as soon as practicable
following the date on which such notice takes effect, subject to the deduction of both income tax under PAYE and NICs. 

  

	6.14	 If approval to the Plan is withdrawn by HM Revenue & Customs or a Plan Termination Notice is issued in
respect of the Plan, any Partnership Share Money held on behalf of Participants shall be repaid to them as soon as practicable, subject to the deduction of income tax under PAYE and NICs. 

 

	7	 Awards Of Matching Shares 

 

	7.1	 The Partnership Share Agreement shall, inter alia, set out the basis on which a Participant is entitled to an
Award of Matching Shares in accordance with this Rule 7. 

  

	7.2	 Matching Shares shall:- 

 

	 	(a)	 be Shares of the same class and carrying the same rights as the Partnership Shares to which they relate;

  

	 	(b)	 subject to Rule 7.5, be awarded on the same day as the Partnership Shares to which they relate are acquired on
behalf of the Participant; and 

  

	 	(c)	 be awarded to all Participants on exactly the same basis. 

 

	7.3	 The Partnership Share Agreement, inter alia, shall specify (subject to Rule 7.4) the ratio of Matching Shares
that are to be awarded to a Participant in respect of Partnership Shares acquired on behalf of a Participant for the time being provided that the ratio shall not exceed two Matching Shares to one Partnership Share. 

 

	7.4	 The Company may vary the ratio determined pursuant to Rule 7.3 before Partnership Shares are acquired. Should
the Company so vary the ratio Qualifying Employees shall be notified of the terms of such variation before the Partnership Shares are awarded under the relevant Partnership Share Agreement. 

 

	7.5	 Should the number of Partnership Shares acquired on behalf of a Participant on the relevant Acquisition Date be
insufficient to require the Company to make an Award of Matching Shares, such Award of Matching Shares shall be made when sufficient Partnership Shares have been acquired to allow at least one Matching Share to be appropriated to the Participant.

 Holding Period 
  

	7.6	 Rules 5.10 to 5.12 relating to the Holding Period that shall apply to an Award of Free Shares shall apply
mutatis mutandis to any Award of Matching Shares. 

  

	8	 Awards Of Dividend Shares 

 

	8.1	 The Free Share Agreement and/or Partnership Share Agreement shall, inter alia, set out the terms which
(together with the Rules) shall govern the Award (if any) of Dividend Shares. In exercising their powers in relation to the acquisition of Dividend Shares the Trustees must treat Participants fairly and equally. 

 

	8.2	 The Company may direct that any cash dividend in respect of Plan Shares held on behalf of Participants
(“Plan Dividends”) may be applied in acquiring Dividend Shares on their behalf. 

  

	8.3	 Dividend Shares shall be Shares:- 

 

	 	(a)	 of the same class and carrying the same rights as the Shares in respect of which the Plan Dividend is paid; and

  

	 	(b)	 which are not subject to any provision for forfeiture. 

 

	8.4	 Subject to Rule 8.5, the Company may determine to either:- 

 

	 	(a)	 apply all Plan Dividends to acquire Dividend Shares; 

 

	 	(b)	 pay all Plan Dividends in cash to all Participants; or 

 

	 	(c)	 offer Participants the choice of electing for the Company to apply their Plan Dividends in accordance with
either Rule 8.4(a) or (b). 

  

	8.5	 The Company may revoke any direction for reinvestment of Plan Dividends into Dividend Shares.

  
  

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	8.6	 Should it be determined that Plan Dividends be applied pursuant to Rule 8.4(a), the Trustees shall apply such
Plan Dividends to acquire Dividend Shares on behalf of the Participant on the Acquisition Date. The number of Dividend Shares acquired on behalf of each Participant shall be determined by dividing the relevant amount of Plan Dividends by the Market
Value of a Share on the Acquisition Date. 

  

	8.7	 Any amount of Plan Dividends that would, but for the following reasons:- 

 

	 	(a)	 because the amount of the Plan Dividend is insufficient to acquire a Dividend Share; or 

 

	 	(b)	 because there is a portion of the Plan Dividend remaining after the acquisition of Dividend Shares,

 be applied pursuant to Rule 8.4(a) may be retained by the Trustees and carried forward to be added to the amount of the
next Plan Dividend that is to be applied pursuant to Rule 8.4(a). 
  

	8.8	 If: 

  

	 	(a)	 the Participant ceases to be in Relevant Employment; or 

 

	 	(b)	 a Plan Termination Notice is issued, 

the amount referred to in rule 8.7 will be repaid to the Participant as soon as practicable. 

 

	8.9	 The Holding Period shall be a period of three years commencing on the Acquisition Date. Rules 5.10 to 5.12
relating to a Participant’s rights during the Holding Period that shall apply to an Award of Free Shares shall apply mutatis mutandis to any Award of Dividend Shares. 

 

	8.10	 Where a Participant is charged to tax in the event of their Dividend Shares ceasing to be subject to the Plan,
they shall be provided with the information specified in paragraph 80 (4) of the Schedule. 

  

	9	 Contributions To Be Made By Participating Companies 

 

	9.1	 Contributions to be made by the Company and each Participating Company to the Trustees to support any
acquisition of Free Shares or Matching Shares by the Trustees for appropriation on any Award Date shall be paid prior to the relevant Award Date. 

  

	9.2	 A Participating Company shall only contribute to the Trustees such sums as are required in connection with the
acquisition of Shares by the Trustees for appropriation to Qualifying Employees who are for the time being employees of that Participating Company. 

  
  

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	10	 Acquisition Of Free Shares and Matching Shares 

 

	10.1	 The Trustees, if so directed by the Board, shall acquire Shares for appropriation under the Plan as Free Shares
or Matching Shares by purchase on the Stock Exchange or privately (provided that any private purchase made at a time when shares in the Company are listed is made at a price not materially more or less than their Market Value on the day on which
they are acquired). 

  

	10.2	 The Trustees, if so directed by the Board, shall subscribe for Shares or procure the transfer of Treasury
Shares by the Company pursuant to section 162D(1)(b) of the Companies Act 1985 for appropriation under the Plan as Free Shares or Matching Shares 

  

	10.3	 Shares that are issued shall not be subscribed for by the Trustees, at less than their nominal value at the
date of subscription. 

  

	11	 Shares To Be Appropriated Or Acquired 

 

	11.1	 Shares subscribed for by the Trustees (whether or not appropriated or acquired on behalf of Participants
pursuant to the Plan) shall rank pari passu in all respects with the Shares then in issue except they will not rank for any rights attaching to Shares by reference to a record date preceding the date of issue. 

 

	11.2	 If and so long as Shares are listed by the Financial Services Authority acting as the UK Listing Authority, the
Company shall apply for a listing for any Shares issued pursuant to the Plan as soon as practicable after the allotment thereof. 

  

	12	 Company Reconstructions 

 

	12.1	 This Rule 12 applies if there occurs in relation to any of a Participant’s Plan Shares (referred to in
this Rule 12 as the “Original Holding”):- 

  

	 	(a)	 a transaction which results in a new holding (referred to in this Rule as “the New Holding”) being
equated with the Original Holding for the purposes of capital gains tax; or 

  

	 	(b)	 a transaction which would have that result but for the fact that what would be the New Holding consists of or
includes a Qualifying Corporate Bond. 

  

	12.2	 If an issue of shares of any of the following description and in respect of which a charge to income tax arises
is made as part of a company reconstruction, these shares shall be treated for the purposes of this Rule as not forming part of the New Holding:- 

  

	 	(a)	 redeemable shares or securities issued as mentioned in section 209(2)(c) of ICTA; 

 

	 	(b)	 share capital issued in circumstances such that section 210(1) of ICTA applies; or 

 

	 	(c)	 share capital to which section 249 of ICTA applies. 

 

	12.3	 Subject to the following provisions of this Rule, references in this Plan to a Participant’s Plan Shares
shall be respectively construed, after the time of the company reconstruction, as being or, as the case may be, as including references to any New Shares. 

  

	12.4	 For the purposes of the Plan:- 

 

	 	(a)	 a company reconstruction shall be treated as not involving a disposal of Shares comprised in the Original
Holding; and 

  

	 	(b)	 the date on which any New Shares are to be treated as having been appropriated to or acquired on behalf of the
Participant shall be the date on which Corresponding Shares were so appropriated or acquired, 

 where “Corresponding
Shares” in relation to any New Shares means the Shares in respect of which the New Shares are issued or which the New Shares otherwise represent and “New Shares” means shares comprised in the New Holding which were issued in respect
of, or otherwise represent, shares comprised in the Original Holding. 
  

	12.5	 In the context of a New Holding, any reference in this Rule 12 to shares includes securities and rights of any
description which form part of the New Holding for the purposes of Chapter II of Part IV of the Taxation of Chargeable Gains Act 1992. 

  

	13	 Rights Issues 

 

	13.1	 Any shares or securities allotted under clause 15 of the Deed shall be treated as Plan Shares identical to the
Shares in respect of which the rights were conferred and shall be treated as if they were awarded to or acquired on behalf of the Participant under the Plan in the same way and at the same time as those Shares. 

 

	13.2	 Rule 13.1 does not apply:- 

 

	 	(a)	 to shares and securities allotted as the result of taking up a rights issue where the funds to exercise those
rights were obtained otherwise than by virtue of the Trustees disposing of rights in accordance with this Rule 13; or 

  

	 	(b)	 where the rights to a share issue attributed to Plan Shares are different from the rights attributed to other
ordinary shares of the Company. 

  
  

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	14	 Cessation of Employment 

 

	14.1	 Subject to Rule 14.2, if a Qualifying Employee and/or Participant ceases to be in Relevant Employment:-

  

	 	(a)	 any Plan Shares held on his behalf shall be removed from the Plan; and 

 

	 	(b)	 subject to paragraph 97(2) of the Schedule, any Partnership Share Money that has been deducted in the
Accumulation Period in which a Participant ceases to be so employed shall be paid over to such individual as soon as is practicable after the date of such cessation. 

 

	14.2	 Notwithstanding Rule 14.1 but without prejudice to Rule 14.3, if a Qualifying Employee and/or Participant
ceases to be in Relevant Employment before the expiry of a three year period commencing on the Award Date, any Free Shares and Matching Shares held on behalf of such individual shall be forfeited, unless the relevant Partnership Share Agreement
and/or Free Share Agreement determines otherwise. 

  

	14.3	 No Free or Matching Shares shall be forfeited as a consequence of a Participant ceasing to be in Relevant
Employment if such cessation is as a result of:- 

  

	 	(a)	 injury or disability; 

 

	 	(b)	 being dismissed by reason of “redundancy” (as such term is defined in the Employment Rights Act
1996); 

  

	 	(c)	 a transfer to which the Transfer of Undertakings Regulations (Protection of Employment) Regulations 1981 apply;

  

	 	(d)	 a change of control or other circumstances ending the Associated Company status of the company by which the
individual is employed; 

  

	 	(e)	 his retirement ; or 

  

	 	(f)	 his death. 

  

	15	 The Issue Of Shares and Costs 

 

	15.1	 Subject to Rule 15.2, in any ten year period, not more than 10 per cent of the issued ordinary share
capital of the Company from time to time may be issued or issuable under the Plan and any other employee share scheme adopted by the Company. For the purposes of this Rule 15.1 there shall be ignored awards, options and other rights to subscribe for
Shares which were granted prior to admission on the Alternative Investment Market of the London Stock Exchange or any awards, options and other rights that have lapsed, become void, been cancelled, or which otherwise become incapable of being
released or exercised. 

  

	15.2	 Treasury Shares shall be treated as Shares issued for the purposes of Rule 15.1. 

 

	15.3	 The Company shall bear the costs of establishing and administering the Plan and shall maintain or cause to be
maintained all necessary accounts and records relating to the Plan. 

  

	16	 Employee Rights 

 

	16.1	 Save as where required by law, no account shall be taken of actual or prospective grants of Awards or rights in
prospect under them for the purposes of any redundancy payments or severance scheme operating within the Group or for the purpose of a Participant’s rights under any pension scheme or arrangement. 

 

	16.2	 Nothing in this Plan or in any document issued pursuant to the Plan shall confer upon any person any right to
continue in the employ of the Company or any Associated Company or shall affect the right of any such company to terminate the employment of any person, or shall impose upon any such company, Trustee or their respective agents and employees any
liability for the loss of any rights under the Plan which may result if that person’s employment is so terminated. In no circumstances shall any Participant, by reason of ceasing to be employed by such company (whether such cessation is in
accordance with the contract of employment of such Participant or otherwise), or any part of the Plan ceasing or failing to have a particular tax treatment or to be approved by HM Revenue & Customs or any other revenue authority, be
entitled to any compensation for any loss of any actual or prospective right or benefit under the Plan which he might otherwise have enjoyed, whether such compensation is claimed by way of damages for wrongful or unfair dismissal or other breach of
contract or by way of compensation for loss of office or otherwise. 

  

	17	 Amendments 

  

	17.1	 The Board shall have the power from time to time to make and amend the Plan Rules (including the appendices)
and the Abcam plc UK Employee Benefit Trust Deed for the implementation and administration of the Plan in a manner consistent with the Plan as it thinks fit and to make any amendments to these Rules provided that:- 

  
  

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	 	(a)	 no alteration shall be made which would materially affect any subsisting rights of Participants granted prior
to the date of alteration without the prior consent or sanction of the majority of that number of Participants who responded to the notification by the Company of such proposed alteration; 

 

	 	(b)	 no alteration or any amendment to a “key feature” (as defined in paragraph 84(6) of the Schedule) of
the Plan shall have effect unless and until the written approval of HM Revenue & Customs has been obtained in accordance with paragraph 81 of the Schedule; 

 

	 	(c)	 no alteration or addition may be made where the alteration or addition would cause the Plan to cease to be a
share incentive plan capable of approval under the Schedule; and 

  

	 	(d)	 no alteration or addition may be made where the alteration or addition would offend the rule against
perpetuities. 

  

	17.2	 Any matters pertaining or pursuant to the Plan which are not dealt with by these Rules and any uncertainty or
dispute as to the meaning of these Rules shall be determined or resolved by decision of the Board which shall be binding on every Participating Company and all Participants and/or Qualifying Employees. 

 

	18	 Transfer Of Legal Title 

 

	18.1	 The Trustees shall transfer the legal title to any Plan Shares into the name of the relevant Participant or to
another person as soon as reasonably practicable after the Participant gives the Trustees any written direction to that effect in accordance with the Rules. 

  

	19	 Notices 

  

	19.1	 The Trustees shall not be bound to act upon any instructions given by or on behalf of a Participant or any
person in whom the beneficial interest in his Plan Shares is for the time being vested pursuant to the Plan unless such instructions are received by the Trustees in writing signed by the relevant person. 

 

	19.2	 Any notice which the Trustees are required or may desire to give to any Qualifying Employee or Participant
pursuant to the Plan shall be in writing and sufficiently given if delivered to him personally or sent first class through the post pre-paid addressed to the Qualifying Employee or Participant at his address
last known to the Trustees (including any address supplied by the relevant Participating Company or any Subsidiary as being his address) or if sent through the Company’s internal postal service, and if so sent by post shall be deemed to have
been duly given on the day following the date the notice is posted and if sent through the Company’s internal postal service shall be deemed to have been duly given three working days after the date of posting. Any document so sent to a
Participant shall be deemed to have been duly delivered notwithstanding that he be then deceased (and whether or not the Trustees have notice of his death) except where his personal representatives have established their title to the satisfaction of
the Trustees and supplied to the Trustees an address to which documents are to be sent. 

  

	20	 Termination 

  

	20.1	 Subject to Rule 20.2, the Plan shall terminate on the earlier of the following dates:- 

 

	 	(a)	 the date on which a Plan Termination Notice is deemed to have effect; 

 

	 	(b)	 if HM Revenue & Customs so determine, the date on which a Disqualifying Event occurs (or such later
date as HM Revenue & Customs may determine). 

  

	20.2	 If the Company issues a Plan Termination Notice a copy of such notice must be given without delay to:-

  

	 	(a)	 HM Revenue & Customs; 

 

	 	(b)	 the Trustees; 

  

	 	(c)	 each Participant; and 

 

	 	(d)	 each Qualifying Employee who has entered into a Partnership Share Agreement which was in force immediately
before the Plan Termination Notice was issued. 

  

	20.3	 Following termination of the Plan pursuant to this Rule 20:- 

 

	 	(a)	 no further Awards may be made; 

 

	 	(b)	 the Trustees must remove all Plan Shares from the Plan as soon as practicable after the later of:-

  

	 	(i)	 the end of the period of three months beginning with the date on which the Company complies with its
obligations pursuant to Rule 20.2; and 

  

	 	(ii)	 the first date on which Plan Shares may be removed from the Plan without giving rise to a tax charge under
Sections 501-507 ITEPA; 

  
  

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	 	(c)	 save that the Trustees may remove a Participant’s Plan Shares from the Plan at an earlier date with the
Participant’s consent; and 

  

	 	(d)	 the Trustees must pay to every Participant any money held on his behalf. 

  
  

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	21	 Miscellaneous 

 

	21.1	 No Award shall be made which shall breach the provisions of the Model Code as contained in the Listing Rules of
the Stock Exchange or any such other code relating to share dealings as may be relevant from time to time. 

  

	21.2	 Subject to Rule 21.3, a Participant may not assign, charge or otherwise dispose of his beneficial interest in
his Free Shares, Matching Shares or Dividend Shares during the respective Holding Period. 

  

	21.3	 A Participant may assign, charge or otherwise dispose of his beneficial interest in his Free Shares, Matching
Shares or Dividend Shares during the respective Holding Period in accordance with paragraph 37 of the Schedule. 

  

	21.4	 A Participant may assign, charge or otherwise dispose of:- 

 

	 	(a)	 any of his Partnership Shares at any time; and 

 

	 	(b)	 any of his Free Shares, Matching Shares or Dividend Shares on or after the expiry of the respective Holding
Period. 

  

	22	 Sub-Plans 

 

	22.1	 The Board shall have the power from time to time to adopt sub-plans to
the Plan for employees outside the United Kingdom. The terms of these sub-plans shall be no more advantageous than the terms of the Plan but may differ from the terms of the Plan to take account of inter alia
any securities, exchange control or taxation laws, regulations, practice or other laws of any territory. Any such sub-plan shall not form part of the Plan for the purposes of the Schedule. Any Shares made
available under such sub-plans will be counted against the limits set out in Rule 15.1. 

  

	23	 Governing Law 

 

	23.1	 The Rules and the operation of the Plan shall be governed and construed in accordance with English Law.

  
  

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