Document:

EX-10.3

 Exhibit 10.3 

UIPATH, INC. 
 NOTICE OF
GRANT OF STOCK OPTION 
 The Participant has been granted an option (the “Option”) to purchase certain shares of
Stock of UiPath, Inc. pursuant to the UiPath, Inc. 2015 Stock Plan (the “Plan”), as follows: 
  

			
	Participant:	  	As per Carta
		
	Date of Grant:	  	As per Carta
		
	Number of Option Shares:	  	As per Carta
		
	Exercise Price:	  	As per Carta
		
	Initial Vesting Date:	  	As per Carta
		
	Option Expiration Date:	  	As per Carta
		
	Tax Status of Option:	  	As per Carta
		
	Vested Shares:	  	As per Carta

 The Exercise Price represents an amount the Company believes to be no less than the fair market value of a share of Stock as
of the Date of Grant, determined in good faith in compliance with the requirements of Section 409A of the Code. However, there is no guarantee that the Internal Revenue Service (the “IRS”) will agree with the Company’s
determination. A subsequent IRS determination that the Exercise Price is less than such fair market value could result in adverse tax consequences to the Participant. By signing below, the Participant agrees that the Company, its directors, officers
and shareholders shall not be held liable for any tax, penalty, interest or cost incurred by the Participant as a result of such determination by the IRS. The Participant is urged to consult with his or her own tax advisor regarding the tax
consequences of the Option, including the application of Section 409A. 
 By their signatures below, the Company and the Participant agree that the
Option is governed by this Grant Notice and by the provisions of the Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. The Participant acknowledges receipt of copies of the Plan and the Stock Option
Agreement, represents that the Participant has read and is familiar with their provisions, and hereby accepts the Option subject to all of their terms and conditions. 
  

							
	UIPATH, INC.	 		 	PARTICIPANT
				
	By:	 	
                     
                                         
                          
	 		 	  

	Its:	 	
                     
                                         
               
	 		 	 Signature
  

		 		 		 	 Date
  

		 		 		 	 Address
  

 ATTACHMENTS: 2015 Stock Plan, as amended to the Date of Grant; Stock Option Agreement and Exercise Notice 

 UIPATH, INC. 

STOCK OPTION AGREEMENT 

UiPath, Inc. has granted to the individual (the “Participant”) named in the Notice of Grant of Stock Option
(the “Notice” ) to which this Stock Option Agreement (the “Option Agreement”) is attached an option (the “Option”) to purchase certain shares of Stock upon the terms and
conditions set forth in the Notice and this Option Agreement. The Option has been granted pursuant to and shall in all respects be subject to the terms and conditions of the UiPath, Inc. 2015 Stock Plan (the “Plan” ), as
amended to the Date of Option Grant, the provisions of which are incorporated herein by reference. By signing the Notice, the Participant: (a) represents that the Participant has received copies of, and has read and is familiar with the terms
and conditions of, the Notice, the Plan and this Option Agreement, (b) accepts the Option subject to all of the terms and conditions of the Notice, the Plan and this Option Agreement , and (c) agrees to accept as binding, conclusive and
final all decisions or interpretations of the Board upon any questions arising under the Notice, the Plan or this Option Agreement. 
  

	 	l.	 DEFINITIONS AND
CONSTRUCTION. 

1.1    Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such
terms in the Notice or the Plan. 
 1.2    Construction. Captions and titles contained herein are for convenience
only and shall not affect the meaning or interpretation of any provision of this Option Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term
“or” is not intended to be exclusive, unless the context clearly requires otherwise. 
  

	 	2.	 TAX
CONSEQUENCES. 

2.1    Tax Status of Option. This Option is intended to have the tax status designated in the Notice. 

(a)    Incentive Stock Option. If the Notice so designates, this Option is intended to be an Incentive
Stock Option within the meaning of Section 422(b) of the Code, but the Company does not represent or warrant that this Option qualifies as such. The Participant should consult with the Participant’s own tax advisor regarding the tax
effects of this Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. 

(b)    Nonstatutory Stock Option. If the Notice so designates, this Option is intended to be a Nonstatutory
Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code. 

2.2    ISO Fair Market Value Limitation. If the Notice designates this Option as an Incentive Stock Option,
then to the extent that the Option (together with all Incentive Stock Options granted to the Participant under all stock option plans of the Participating Company 

  
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Group, including the Plan) becomes exercisable for the first time during any calendar year for shares having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion
of such options which exceeds such amount will be treated as Nonstatutory Stock Options. For purposes of this Section 2.2, options designated as Incentive Stock Options are taken into account in the order in which they were granted, and the
Fair Market Value of stock is determined as of the time the option with respect to such stock is granted. If the Code is amended to provide for a different limitation from that set forth in this Section 2.2, such different limitation shall be
deemed incorporated herein effective as of the date required or permitted by such amendment to the Code. If the Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation set forth
in this Section 2.2, the Participant may designate which portion of such Option the Participant is exercising. In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion of the
Option first. Separate certificates representing each such portion shall be issued upon the exercise of the Option. (NOTE TO PARTICIPANT: If the aggregate Exercise Price of the Option (that is, the Exercise Price multiplied by the Number of Option
Shares) plus the aggregate exercise price of any other Incentive Stock Options you hold (whether granted pursuant to the Plan or any other stock option plan of the Participating Company Group) is greater than $100,000, you should contact the
President or Treasurer of the Company to ascertain whether the entire Option qualifies as an Incentive Stock Option.) 
  

	 	3.	 ADMINISTRATION. 

All questions of interpretation concerning this Option Agreement shall be determined by the Board. All determinations by the Board shall be
final and binding upon all persons having an interest in the Option. Any Officer shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated
to the Company herein, provided the Officer has been delegated authority with respect to such matter, right, obligation, or election by the Board. 
  

	 	4.	 EXERCISE OF THE OPTION.

 4.1    Right to Exercise. Except as otherwise provided herein, the Option shall be
exercisable on and after the Initial Vesting Date and prior to the termination of the Option (as provided in Section 6) in an amount not to exceed the number of Vested Shares less the number of shares previously acquired upon exercise of the
Option, subject to the Company’s repurchase rights set forth in Section 11. In no event shall the Option be exercisable for more shares than the Number of Option Shares, as adjusted pursuant to Section 9. 

4.2    Method of Exercise. Exercise of the Option shall be by written notice to the Company which must state the
election to exercise the Option, the number of whole shares of Stock for which the Option is being exercised and such other representations and agreements as to the Participant’s investment intent with respect to such shares as may be required
pursuant to the provisions of this Option Agreement. The written notice must be signed by the Participant and must be delivered in person, by certified or registered mail, return receipt requested, by confirmed facsimile transmission, or by such
other means as the Company may permit, to the Treasurer of the Company, or other authorized representative of the Participating Company 

  
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Group, prior to the termination of the Option as set forth in Section 6, accompanied by full payment of the aggregate Exercise Price for the number of shares of Stock being purchased. The
Option shall be deemed to be exercised upon receipt by the Company of such written notice and the aggregate Exercise Price. 

4.3    Payment of Exercise Price. 

(a)    Forms of Consideration Authorized. Except as otherwise provided below, payment of the aggregate
Exercise Price for the number of shares of Stock for which the Option is being exercised shall be made (i) in cash, by check, or cash equivalent, (ii) by tender to the Company, or attestation to the ownership, of whole shares of Stock owned by
the Participant having a Fair Market Value not less than the aggregate Exercise Price, (iii) if, as of the date of exercise the Company has established a Cashless Exercise program, as defined in Section 4.3(b), then by Cashless Exercise,
or (iv) by any combination of the foregoing. 
 (b)    Limitations on Forms of
Consideration. 
 (i)    Tender of Stock. Notwithstanding the foregoing, the Option may not be exercised
by tender to the Company, or attestation to the ownership, of shares of Stock to the extent such tender or attestation would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the
Company’s stock. The Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such shares either have been owned by the Participant for more than six (6) months (and not used for
another option exercise by attestation during such period) or were not acquired, directly or indirectly, from the Company. 

(ii)    Cashless Exercise. A “Cashless Exercise” means the delivery of a properly executed
notice together with irrevocable instructions to a broker in a form acceptable to the Company providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares of Stock acquired upon the exercise
of the Option pursuant to a program or procedure approved by the Company (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal
Reserve System). The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to decline to approve or terminate any such program or procedure. 

4.4    Tax Withholding. At the time the Option is exercised, in whole or in part, or at any time thereafter as
requested by the Company, the Participant hereby authorizes withholding from payroll and any other amounts payable to the Participant, and otherwise agrees to make adequate provision for (including by means of a Cashless Exercise to the extent
permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Participating Company Group, if any, which arise in connection with the Option, including, without limitation,
obligations arising upon (i) the exercise, in whole or in part, of the Option or (ii) the transfer, in whole or in part, of any shares acquired upon exercise of the Option. The Option is not exercisable unless the tax withholding
obligations of the Participating Company Group are satisfied. Accordingly, the Company shall have no obligation to deliver shares of Stock until the tax withholding obligations of the Participating Company Group have been satisfied by the
Participant. 

  
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 4.5    Certificate Registration. Except in the event the Exercise
Price is paid by means of a Cashless Exercise, the certificate for the shares as to which the Option is exercised shall be registered in the name of the Participant, or, if applicable, in the names of the heirs of the Participant. 

4.6    Restrictions on Grant of the Option and Issuance of Shares. The grant of the Option and the issuance of
shares of Stock upon exercise of the Option shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such securities. The Option may not be exercised if the issuance of shares of Stock upon
exercise would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed. In addition, the Option
may not be exercised unless (i) a registration statement under the Securities Act shall at the time of exercise of the Option be in effect with respect to the shares issuable upon exercise of the Option or (ii) in the opinion of legal
counsel to the Company, the shares issuable upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. THE PARTICIPANT IS CAUTIONED THAT THE OPTION MAY
NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE PARTICIPANT MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. The inability of the Company to obtain from any regulatory body having
jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares subject to the Option shall relieve the Company of any liability in respect of the failure to issue or sell
such shares as to which such requisite authority shall not have been obtained. As a condition to the exercise of the Option, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence
compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 

4.7    Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise of the
Option. 
  

	 	5.	 NONTRANSFERABILITY OF THE OPTION.

 The Option may be exercised during the lifetime of the Participant only by the Participant or the Participant’s
guardian or legal representative and may not be assigned or transferred in any manner except by will or by the laws of descent and distribution. Following the death of the Participant, the Option, to the extent provided in Section 7, may be
exercised by the Participant’s legal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution. 

  
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	 	6.	 TERMINATION OF THE
OPTION. 

 The Option shall terminate and may no longer be exercised
after the first to occur of (a) the Option Expiration Date, (b) the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or (c) such date as the Option terminates
in connection with a Change in Control as determined in accordance with the Plan. 
  

	 	7.	 EFFECT OF TERMINATION OF
SERVICE. 

 7.1    Option
Exercisability. 
 (a)    Disability. If the Participant’s Service terminates because of the
Disability of the Participant, the Option, to the extent unexercised and exercisable on the date on which the Participant’s Service terminated, may be exercised by the Participant (or the Participant’s guardian or legal representative) at
any time prior to the expiration of twelve (12) months after the date on which the Participant’s Service tenninated, but in any event no later than the Option Expiration Date. 

(b)    Death. If the Participant’s Service terminates because of the death of the Participant, the
Option, to the extent unexercised and exercisable on the date on which the Participant’s Service terminated, may be exercised by the Participant’s legal representative or other person who acquired the right to exercise the Option by reason
of the Participant’s death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s Service terminated, but in any event no later than the Option Expiration Date. The Participant’s
Service shall be deemed to have terminated on account of death if the Participant dies within three (3) months after the Participant’s termination of Service. 

(c)    Cause. If the Participant’s Service is terminated for Cause, the Option shall terminate in its
entirety and cease to be exercisable immediately upon such termination of Service. 
 (d)    Other Termination of
Service. If the Participant’s Service with the Participating Company Group terminates for any reason, except Cause, Disability or death, the Option, to the extent unexercised and exercisable by the Participant on the date on which the
Participant’s Service terminated, may be exercised by the Participant at any time prior to the expiration of three (3) months after the date on which the Participant’s Service terminated, but in any event no later than the Option
Expiration Date. 
 7.2    Extension if Exercise Prevented by Law. Notwithstanding the foregoing, if the exercise
of the Option within the applicable time periods set forth in Section 7.1 is prevented by the provisions of Section 4.6, the Option shall remain exercisable until three (3) months after the date the Participant is notified by the
Company that the Option is exercisable, but in any event no later than the Option Expiration Date. 

7.3    Extension if Participant Subject to Section 16(b). Notwithstanding the foregoing, if a
sale within the applicable time periods set forth in Section 7.1 of shares acquired upon the exercise of the Option would subject the Participant to suit under Section 16(b) of the 

  
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Exchange Act, the Option shall remain exercisable until the earliest to occur of (i) the tenth (10th) day following the date on which a sale of such shares by the Participant would no longer
be subject to such suit, (ii) the one hundred and ninetieth (190th) day after the Participant’s termination of Service, or (iii) the Option Expiration Date. 
  

	 	8.	 CHANGE IN
CONTROL. 

 In the event of a Change in
Control, the Participant and the Company shall have such rights and obligations as are determined in accordance with the provisions of the Plan. 
  

	 	9.	 ADJUSTMENTS FOR CHANGES IN
CAPITAL STRUCTURE. 

 Subject to any required action by
the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock
dividend, stock split, reverse stock split, split-up, split-off , spin-off, combination of shares, exchange of shares, or similar
change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market
Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class of shares subject to the Option, in order to prevent dilution or enlargement of the Participant’s rights under the Option.
For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” Any fractional share resulting from an adjustment pursuant to this
Section 9 shall be rounded down to the nearest whole number, and in no event may the Exercise Price of the Option be decreased to an amount less than the par value, if any, of the stock subject to the Option. Such adjustments shall be
determined by the Board, and its determination shall be final, binding and conclusive. 
  

	 	10.	 RIGHTS AS A STOCKHOLDER, EMPLOYEE OR CONSULTANT. 

The Participant shall have no rights as a stockholder with respect to any shares covered by the Option until the date of the issuance of a
certificate for the shares for which the Option has been exercised (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or
other rights for which the record date is prior to the date such certificate is issued, except as provided in Section 9. If the Participant is an Employee, the Participant understands and acknowledges that, except as otherwise provided in a
separate , written employment agreement between a Participating Company and the Participant, the Participant’s employment is “at will” and is for no specified term. Nothing in this Option Agreement shall confer upon the Participant
any right to continue in the Service of a Participating Company or interfere in any way with any right of the Participating Company Group to terminate the Participant’s Service as an Employee or Consultant, as the case may be, at any time. 

  
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	 	11.	 RIGHT OF FIRST REFUSAL.

 11.1    Grant of Right of First Refusal. Except as provided in Section 11.7 below,
in the event the Participant, the Participant’s legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell, exchange, transfer, pledge, or otherwise dispose of any shares acquired upon exercise of the
Option (the “Transfer Shares”) to any person or entity, including, without limitation, any stockholder of a Participating Company, the Company shall have the right to repurchase the Transfer Shares under the terms and subject
to the conditions set forth in this Section 11 (the “Right of First Refusal”). 

11.2    Notice of Proposed Transfer. Prior to any proposed transfer of the Transfer Shares, the Participant shall
deliver written notice (the “Transfer Notice”) to the Company describing fully the proposed transfer, including the number of Transfer Shares, the name and address of the proposed transferee (the “Proposed
Transferee”) and, if the transfer is voluntary, the proposed transfer price, and containing such information necessary to show the bona fide nature of the proposed transfer. In the event of a bona fide gift or involuntary transfer, the
proposed transfer price shall be deemed to be the Fair Market Value of the Transfer Shares, as determined by the Board in good faith. If the Participant proposes to transfer any Transfer Shares to more than one Proposed Transferee, the Participant
shall provide a separate Transfer Notice for the proposed transfer to each Proposed Transferee. The Transfer Notice shall be signed by both the Participant and the Proposed Transferee and must constitute a binding commitment of the Participant and
the Proposed Transferee for the transfer of the Transfer Shares to the Proposed Transferee subject only to the Right of First Refusal. 

11.3    Bona Fide Transfer. If the Company determines that the information provided by the Participant in the
Transfer Notice is insufficient to establish the bona fide nature of a proposed voluntary transfer, the Company shall give the Participant written notice of the Participant’s failure to comply with the procedure described in this
Section 11, and the Participant shall have no right to transfer the Transfer Shares without first complying with the procedure described in this Section 11. The Participant shall not be permitted to transfer the Transfer Shares if the
proposed transfer is not bona fide. 
 11.4    Exercise of Right of First Refusal. If the Company determines the
proposed transfer to be bona fide, the Company shall have the right to purchase all, but not less than all, of the Transfer Shares (except as the Company and the Participant otherwise agree) at the purchase price and on the terms set forth in the
Transfer Notice by delivery to the Participant of a notice of exercise of the Right of First Refusal within thirty (30) days after the date the Transfer Notice is delivered to the Company. The Company’s exercise or failure to exercise the
Right of First Refusal with respect to any proposed transfer described in a Transfer Notice shall not affect the Company’s right to exercise the Right of First Refusal with respect to any proposed transfer described in any other Transfer
Notice, whether or not such other Transfer Notice is issued by the Participant or issued by a person other than the Participant with respect to a proposed transfer to the same Proposed Transferee. If the Company exercises the Right of First Refusal,
the Company and the Participant shall thereupon consummate the sale of the Transfer Shares to the Company on the terms set forth in the Transfer Notice within sixty (60) days after the date the Transfer Notice is delivered to the Company
(unless a longer period is offered by the 

  
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Proposed Transferee); provided, however, that in the event the Transfer Notice provides for the payment for the Transfer Shares other than in cash, the Company shall have the option of paying for
the Transfer Shares by the present value cash equivalent of the consideration described in the Transfer Notice as reasonably determined by the Company. For purposes of the foregoing, cancellation of any indebtedness of the Participant to any
Participating Company shall be treated as payment to the Participant in cash to the extent of the unpaid principal and any accrued interest canceled. 

11.5    Failure to Exercise Right of First Refusal. If the Company fails to exercise the Right of First Refusal in
full (or to such lesser extent as the Company and the Participant otherwise agree) within the period specified in Section 11.4 above, the Participant may conclude a transfer to the Proposed Transferee of the Transfer Shares on the terms and
conditions described in the Transfer Notice, provided such transfer occurs not later than ninety (90) days following delivery to the Company of the Transfer Notice. The Company shall have the right to demand further assurances from the
Participant and the Proposed Transferee (in a form satisfactory to the Company) that the transfer of the Transfer Shares was actually carried out on the terms and conditions described in the Transfer Notice. No Transfer Shares shall be transferred
on the books of the Company until the Company has received such assurances, if so demanded, and has approved the proposed transfer as bona fide. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as
well as any subsequent proposed transfer by the Participant, shall again be subject to the Right of First Refusal and shall require compliance by the Participant with the procedure described in this Section 11. 

11.6    Transferees of Transfer Shares. All transferees of the Transfer Shares or any interest therein, other than
the Company, shall be required as a condition of such transfer to agree in writing (in a form satisfactory to the Company) that such transferee shall receive and hold such Transfer Shares or interest therein subject to all of the terms and
conditions of this Option Agreement, including this Section 11 providing for the Right of First Refusal with respect to any subsequent transfer. Any sale or transfer of any shares acquired upon exercise of the Option shall be void unless the
provisions of this Section 11 are met. 
 11.7    Transfers Not Subject to Right of First Refusal. The Right
of First Refusal shall not apply to any transfer or exchange of the shares acquired upon exercise of the Option if (i) such transfer or exchange is in connection with an Ownership Change Event, (ii) such transfer is to one or more members
of the Optionee’s immediate family (or a trust for their benefit) provided all such transferees agree in writing to the restrictions in Section 11.6, or (iii) such transfer has been approved by the Board, which approval may be granted
or withheld in its complete discretion. If the consideration received pursuant to such transfer or exchange consists of stock of a Participating Company, such consideration shall remain subject to the Right of First Refusal unless the provisions of
Section 11.9 below result in a termination of the Right of First Refusal. 
 11.8    Assignment of Right of
First Refusal. The Company shall have the right to assign the Right of First Refusal at any time, whether or not there has been an attempted transfer, to one or more persons as may be selected by the Company. 

  
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 11.9    Early Termination of Right of First Refusal. The other
provisions of this Option Agreement notwithstanding, the Right of First Refusal shall terminate and be of no further force and effect upon (a) the occurrence of a Change in Control, unless the Acquiring Corporation assumes the Company’s
rights and obligations under the Option or substitutes a substantially equivalent option for the Acquiring Corporation’s stock for the Option, or (b) the existence of a public market for the class of shares subject to the Right of First
Refusal. A “public market” shall be deemed to exist if (i) such stock is listed on a national securities exchange (as that term is used in the Exchange Act) or (ii) such stock is traded on the over-the-counter market and prices therefor are published daily on business days in a recognized financial journal. 

 

	 	12.	 STOCK DISTRIBUTIONS SUBJECT TO
OPTION AGREEMENT. 

 If, from time to time , there is any stock
dividend , stock split or other change, as described in Section 9, in the character or amount of any of the outstanding stock of the corporation the stock of which is subject to the provisions of this Option Agreement, then in such event any
and all new, substituted or additional securities to which the Participant is entitled by reason of the Participant’s ownership of the shares acquired upon exercise of the Option shall be immediately subject to the Right of First Refusal with
the same force and effect as the shares subject to the Right of First Refusal immediately before such event. 
  

	 	13.	 NOTICE OF SALES UPON
DISQUALIFYING DISPOSITION. 

 The
Participant shall dispose of the shares acquired pursuant to the Option only in accordance with the provisions of this Option Agreement. In addition, if the Notice designates this Option as an Incentive Stock Option, the Participant shall
(a) promptly notify the President or Treasurer of the Company if the Participant disposes of any of the shares acquired pursuant to the Option within one (1) year after the date the Participant exercises all or part of the Option or within
two (2) years after the Date of Option Grant and (b) provide the Company with a description of the circumstances of such disposition. Until such time as the Participant disposes of such shares in a manner consistent with the provisions of
this Option Agreement, unless otherwise expressly authorized by the Company, the Participant shall hold all shares acquired pursuant to the Option in the Participant’s name (and not in the name of any nominee) for the one-year period immediately after the exercise of the Option and the two-year period immediately after Date of Option Grant. At any time during the one-year or two-year periods set forth above, the Company may place a legend on any certificate representing shares acquired pursuant to the Option requesting the transfer
agent for the Company’s stock to notify the Company of any such transfers. The obligation of the Participant to notify the Company of any such transfer shall continue notwithstanding that a legend has been placed on the certificate pursuant to
the preceding sentence. 
  

	 	14.	 LEGENDS. 

The Company may at any time place legends referencing the Right of First Refusal and any applicable federal, state or foreign securities law
restrictions on all certificates representing shares of stock subject to the provisions of this Option Agreement. The Participant 

  
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shall, at the request of the Company, promptly present to the Company any and all certificates representing shares acquired pursuant to the Option in the possession of the Participant in order to
carry out the provisions of this Section. Unless otherwise specified by the Company, legends placed on such certificates may include, but shall not be limited to, the following: 

14.1    “THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR RULE 701 UNDER THE ACT, OR THE COMPANY
RECEIVES AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.” 

14.2    “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT OF FIRST REFUSAL OPTION IN FAVOR OF THE
CORPORATION OR ITS ASSIGNEE SET FORTH IN AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THIS CORPORATION.” 

14.3    If the Option is an Incentive Stock Option: “THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE
CORPORATION TO THE REGISTERED HOLDER UPON EXERCISE OF AN INCENTIVE STOCK OPTION AS DEFINED IN SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“ISO”). IN ORDER TO OBTAIN THE PREFERENTIAL TAX TREATMENT AFFORDED TO ISOs, THE
SHARES SHOULD NOT BE TRANSFERRED PRIOR TO THE LATER OF TWO YEARS AFTER THE DATE OF OPTION GRANT OR ONE YEAR AFTER THE EXERCISE DATE. SHOULD THE REGISTERED HOLDER ELECT TO TRANSFER ANY OF THE SHARES PRIOR TO THIS DATE AND FOREGO ISO TAX TREATMENT,
THE TRANSFER AGENT FOR THE SHARES SHALL NOTIFY THE CORPORATION IMMEDIATELY. THE REGISTERED HOLDER SHALL HOLD ALL SHARES PURCHASED UNDER THE INCENTIVE STOCK OPTION IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF ANY NOMINEE) PRIOR TO
THIS DATE OR UNTIL TRANSFERRED AS DESCRIBED ABOVE.” 
  

	 	15.	 LOCK-UP
AGREEMENT. 

 The Participant hereby
agrees that in the event of any underwritten public offering of stock, including an initial public offering of stock, made by the Company pursuant to an effective registration statement filed under the Securities Act, the Participant shall not
offer, sell, contract to sell, pledge, hypothecate, grant any option to purchase or make any short sale of, or otherwise dispose of any shares of stock of the Company or any rights to acquire stock of the Company for such period of time from and
after the effective date of such registration statement as may be established by the underwriter for such public offering; provided, however, that such 

  
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period of time shall not exceed one hundred eighty (180) days from the effective date of the registration statement to be filed in connection with such public offering. The foregoing
limitation shall not apply to shares registered in the public offering under the Securities Act. 
  

	 	16.	 RESTRICTIONS ON TRANSFER OF
SHARES. 

 No shares acquired upon exercise of the
Option may be sold, exchanged, transferred (including, without limitation, any transfer to a nominee or agent of the Participant), assigned, pledged, hypothecated or otherwise disposed of, including by operation of law, in any manner which violates
any of the provisions of this Option Agreement and any such attempted disposition shall be void. The Company shall not be required (a) to transfer on its books any shares which will have been transferred in violation of any of the provisions
set forth in this Option Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such shares will have been so transferred. 

 

	 	17.	 MISCELLANEOUS
PROVISIONS. 

17.1    Binding Effect. Subject to the restrictions on transfer set forth herein, this Option Agreement shall inure
to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. 

17.2    Termination or Amendment. The Board may terminate or amend the Plan or the Option at any time; provided ,
however, that except to the extent permitted by the Plan in connection with a Change in Control, no such termination or amendment may adversely affect the Option or any unexercised portion hereof without the consent of the Participant unless such
termination or amendment is necessary to comply with any applicable law or government regulation or is required to enable the Option, if designated an Incentive Stock Option in the Notice, to qualify as an Incentive Stock Option. No amendment or
addition to this Option Agreement shall be effective unless in writing. 
 17.3    Notices. Any notice required
or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Option Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery or upon deposit in the
United States Post Office, by registered or certified mail, with postage and    fees prepaid, addressed to the other party at the address shown below that party’s signature on the Notice or at such other address as such
party may designate in writing from time to time to the other party. 
 17.4    Integrated Agreement. The Notice,
this Option Agreement and the Plan constitute the entire understanding and agreement of the Participant and the Participating Company Group with respect to the subject matter contained herein or therein and supersedes any prior agreements,
understandings, restrictions, representations, or warranties among the Participant and the Participating Company Group with respect to such subject matter other than those as set forth or provided for herein or therein. To the extent contemplated
herein or therein, the provisions of the Notice and the Option Agreement shall survive any exercise of the Option and shall remain in full force and effect. 

  
 11 

 17.5    Applicable Law. This Option Agreement shall be governed
by the laws of the State of Delaware as such laws are applied to agreements between Delaware residents entered into and to be performed entirely within the State of Delaware. 

17.6    Counterparts. The Notice may be executed in counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. 

  
 12 

					
	[                    ]	  	Incentive Stock Option	  	Participant: [Name of Optionee]
	[                    ]	  	Nonstatutory Stock Option	  	
		  		  	Date:
                                         
   

 STOCK OPTION EXERCISE NOTICE 

UiPath, Inc. 
 Attention: Secretary 

                          
               

                          
               
 Ladies and Gentlemen: 

1.    Option. I was granted an option (the “Option”) to purchase shares of the
common stock (the “Shares”) of UiPath, Inc. (the “Company”) pursuant to the Company’s 2015 Stock Plan (the “Plan”), my Notice of Grant of Stock Option (the
“Notice”) and my Stock Option Agreement (the “Option Agreement”) as follows: 
  

					
	Date of Option Grant:	  	 	[Grant Date	] 
		
	Number of Option Shares:	  	 	[Share Number	] 
		
	Exercise Price per Share:	  	 	$[Exercise Price]	 

 2.    Exercise of Option. I hereby elect to exercise the Option to purchase
the following number of Shares, all of which are Vested Shares in accordance with the Notice and the Option Agreement: 
  

					
	Total Shares Purchased:	  	 	                                    
	 
		
	Total Exercise Price (Total Shares X Price per Share):	  	 	$                        	 

 3.    Payments. I enclose payment in full of the total exercise price for
the Shares in the following form(s), as authorized by my Option Agreement: 
  

					
	Cash:	  	 	$                        	 
		
	Check:	  	 	$                        	 
		
	Tender of Company Stock:	  	 	Contact Plan Administrator	 

 4.    Tax Withholding. I authorize payroll withholding and otherwise will
make adequate provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the Option. If I am exercising a Nonstatutory Stock Option, I enclose payment in full of my withholding taxes,
if any, as follows (Contact Plan Administrator for amount of tax due): 
  

			
	Cash:	  	$                        
		
	Check:	  	$                        

 5.    Participant Information. 

 

			
	 My address is:
	 	
                   
                     

		
		 	
                   
                     

		
	 My Social Security Number is:
	 	
                   
                     

 6.    Notice of Disqualifying Disposition. If the Option is an Incentive
Stock Option, I agree that I will promptly notify the President of the Company if! transfer any of the Shares within one (1) year from the date I exercise all or part of the Option or within two (2) years of the Date of Option Grant. 

7.    Binding Effect. I agree that the Shares are being acquired in accordance with and subject to the
terms, provisions and conditions of the Option Agreement, including the Right of First Refusal set forth therein, to all of which I hereby expressly assent. This Agreement shall inure to the benefit of and be binding upon my heirs, executors,
administrators, successors and assigns. 
 8.    Transfer. I understand and acknowledge that the Shares
have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and that consequently the Shares must be held indefinitely unless they are subsequently registered under the Securities Act, an exemption from
such registration is available, or they are sold in accordance with Rule 144 or Rule 70 I under the Securities Act. I further understand and acknowledge that the Company is under no obligation to register the Shares. I understand that the
certificate or certificates evidencing the Shares will be imprinted with legends which prohibit the transfer of the Shares unless they are registered or such registration is not required in the opinion of legal counsel satisfactory to the Company.

 I am aware that Rule I 44 under the Securities Act, which permits limited public resale of securities acquired in a nonpublic offering,
is not currently available with respect to the Shares and, in any event, is available only if certain conditions are satisfied. I understand that any sale of the Shares that might be made in reliance upon Rule 144 may only be made in limited amounts
in accordance with the terms and conditions of such rule and that a copy of Rule 144 will be delivered to me upon request. 
 [Signature
Page Follows] 

 I understand that I am purchasing the Shares pursuant to the terms of the Plan , the Notice
and my Option Agreement, copies of which I have received and carefully read and understand. 
  

	
	Very truly yours,
	
	[Name of Optionee]
	
	  

	(Signature)

  

			
	Receipt of the above is hereby acknowledged.
	
	UIPATH, INC.
		
	By:	 	  

		
	Title:	 	  

		
	Dated:EX-10.4

 Exhibit 10.4 

UIPATH, INC. 

2018 STOCK PLAN 

ADOPTED ON JUNE 28, 2018 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 SECTION1. ESTABLISHMENT AND PURPOSE
	  	 	1	 
		
	 SECTION2. ADMINISTRATION
	  	 	1	 
	 (a)   Committees of the Board of Directors
	  	 	1	 
	 (b)   Authority of the Board of Directors
	  	 	1	 
		
	 SECTION3. ELIGIBILITY
	  	 	2	 
	 (a)   General Rule
	  	 	2	 
	 (b)   TenPercent Stockholders
	  	 	2	 
		
	 SECTION4. STOCK SUBJECT TO PLAN
	  	 	2	 
	 (a)   Basic Limitation
	  	 	2	 
	 (b)   Additional Shares
	  	 	2	 
		
	 SECTION5. TERMS AND CONDITIONS OF AWARDS OR SALES
	  	 	3	 
	 (a)   Stock Grant or Purchase Agreement
	  	 	3	 
	 (b)   Duration of Offers and Nontransferability of Rights
	  	 	3	 
	 (c)   Purchase Price
	  	 	3	 
		
	 SECTION6. TERMS AND CONDITIONS OF OPTIONS
	  	 	3	 
	 (a)   Stock Option Agreement
	  	 	3	 
	 (b)   Number of Shares
	  	 	3	 
	 (c)   Exercise Price
	  	 	4	 
	 (d)   Vesting and Exercisability
	  	 	4	 
	 (e)   Basic Term
	  	 	44	 
	 (f)   Termination of Service (Except by Death)
	  	 	5	 
	 (g)   Leaves of Absence
	  	 	5	 
	 (h)   Death of Optionee
	  	 	5	 
	 (i) Restrictions on Transfer of Options
	  	 	6	 
	 (j) No Rights as a Stockholder
	  	 	6	 
	 (k)   Modification, Extension and Assumption of Options
	  	 	6	 
	 (l) Company’s Right to Cancel Certain Options
	  	 	7	 
		
	 SECTION7. TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS
	  	 	7	 
	 (a)   Restricted Stock Unit Agreement
	  	 	7	 
	 (b)   Payment for Restricted Stock Units
	  	 	7	 
	 (c)   Vesting Conditions
	  	 	7	 
	 (d)   Forfeiture
	  	 	7	 
	 (e)   Voting and Dividend Rights
	  	 	7	 
	 (f)   Form and Time of Settlement of Restricted Stock Units
	  	 	8	 
	 (g)   Death of Recipient
	  	 	8	 
	 (h)   Creditors’ Rights
	  	 	8	 
	 (i) Modification, Extension and Assumption of Restricted Stock Units
	  	 	8	 
	 (j) Restrictions on Transfer of Restricted Stock Units
	  	 	8	 

					
	 SECTION8. PAYMENT FOR SHARES
	  	 	9	 
	 (a)   General Rule
	  	 	9	 
	 (b)   Services Rendered
	  	 	9	 
	 (c)   Promissory Note
	  	 	9	 
	 (d)   Surrender of Stock
	  	 	9	 
	 (e)   Cashless Exercise
	  	 	9	 
	 (f)   Net Exercise
	  	 	9	 
	 (g)   Other Forms of Payment
	  	 	10	 
		
	 SECTION9. ADJUSTMENT OF SHARES
	  	 	10	 
	 (a)   General 
	  	 	10	 
	 (b)   Corporate Transactions
	  	 	10	 
	 (c)   Dissolution or Liquidation
	  	 	12	 
	 (d)   Reservation of Rights
	  	 	12	 
		
	 SECTION10. MISCELLANEOUS PROVISIONS
	  	 	12	 
	 (a)   Securities Law Requirements
	  	 	12	 
	 (b)   No Retention Rights
	  	 	13	 
	 (c)   Treatment as Compensation
	  	 	13	 
	 (d)   Governing Law
	  	 	13	 
	 (e)   Conditions and Restrictions on Shares
	  	 	13	 
	 (f)   Tax Matters
	  	 	13	 
		
	 SECTION11. DURATION AND AMENDMENTS; STOCKHOLDER APPROVAL
	  	 	14	 
	 (a)   Term of the Plan
	  	 	14	 
	 (b)   Right to Amend or Terminate the Plan
	  	 	15	 
	 (c)   Effect of Amendment or Termination
	  	 	15	 
	 (d)   Stockholder Approval
	  	 	15	 
		
	 SECTION12. DEFINITIONS
	  	 	15	 

 UIPATH, INC. 2018 STOCK
PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE 

The purpose of this Plan is to attract, incentivize and retain Employees, Outside Directors and Consultants through the grant of Awards. The
Plan provides for the direct award or sale of Shares, the grant of Options to purchase Shares and the grant of Restricted Stock Units to acquire Shares. Options granted under the Plan may be ISOs intended to qualify under Code Section 422 or
NSOs which are not intended to so qualify. Capitalized terms are defined in Section 12. 
 SECTION 2. ADMINISTRATION 

(a) Committees of the Board of Directors 

The Plan may be administered by one or more Committees. Each Committee shall consist, as required by applicable law, of one or more members of
the Board of Directors who have been appointed by the Board of Directors. Each Committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. If no Committee has been appointed, the entire
Board of Directors shall administer the Plan. Any reference to the Board of Directors in the Plan or an Award Agreement shall be construed as a reference to the Committee (if any) to whom the Board of Directors has assigned a particular function.

 (b) Authority of the Board of Directors 

Subject to the provisions of the Plan, the Board of Directors shall have full authority and discretion to take any actions it deems necessary
or advisable for the administration of the Plan. Notwithstanding anything to the contrary in the Plan, with respect to the terms and conditions of awards granted to Participants outside the United States, the Board of Directors may vary from the
provisions of the Plan to the extent it determines it necessary and appropriate to do so; provided that it may not vary from those Plan terms requiring stockholder approval pursuant to Section 11(d) below. All decisions, interpretations and
other actions of the Board of Directors shall be final and binding on all Participants and all persons deriving their rights from a Participant. 

  
 1 

 SECTION 3. ELIGIBILITY 

(a) General Rule 

Employees, Outside Directors and Consultants shall be eligible for the grant of Awards under the Plan. However, only Employees shall be
eligible for the grant of ISOs. 
 (b) TenPercent Stockholders 

A person who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company, its Parent or any of its
Subsidiaries shall not be eligible for the grant of an ISO unless (i) the Exercise Price is at least 110% of the Fair Market Value of a Share on the Date of Grant and (ii) such ISO by its terms is not exercisable after the expiration of
five years from the Date of Grant. For purposes of this Subsection (b), in determining stock ownership, the attribution rules of Code Section 424(d) shall be applied. 

SECTION 4. STOCK SUBJECT TO PLAN 
 (a)
Basic Limitation 
 Not more than 8,881,660 Shares may be issued under the Plan, subject to Subsection (b) below and
Section 9(a). All of these Shares may be issued upon the exercise of ISOs. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under
the Plan may be authorized but unissued Shares or treasury Shares. 
 (b) Additional Shares 

In the event that Shares previously issued under the Plan are forfeited to or repurchased by the Company due to failure to vest, such Shares
shall be added to the number of Shares then available for issuance under the Plan. In the event that Shares that otherwise would have been issuable under the Plan are withheld by the Company in payment of the Purchase Price, Exercise Price or
withholding taxes, such Shares shall remain available for issuance under the Plan. In the event that an outstanding Option, Restricted Stock Unit or other right for any reason expires or is canceled, the Shares allocable to the unexercised or
unsettled portion of such Option, Restricted Stock Unit or other right shall remain available for issuance under the Plan. To the extent an Award is settled in cash, the cash settlement shall not reduce the number of Shares remaining available for
issuance under the Plan. Notwithstanding the foregoing, in the case of ISOs, this Subsection (b) shall be subject to any limitations imposed under Section 422 of the Code and the treasury regulations thereunder. 

In the event that Shares of Class A Common Stock subject to outstanding options or other securities under the Company’s 2015 Stock
Plan (the “2015 Plan”) expire or become unexercisable in accordance with their terms, such Shares shall be automatically transferred to the 2018 Plan and added to the number of Shares then available for issuance under the Plan. 

  
 2 

 SECTION 5. TERMS AND CONDITIONS OF AWARDS OR SALES 

(a) Stock Grant or Purchase Agreement 

Each award of Shares under the Plan shall be evidenced by a Stock Grant Agreement between the Grantee and the Company. Each sale of Shares
under the Plan (other than upon exercise of an Option) shall be evidenced by a Stock Purchase Agreement between the Purchaser and the Company. Such award or sale shall be subject to all applicable terms and conditions of the Plan and may be subject
to any other terms and conditions which are not inconsistent with the Plan and which the Board of Directors deems appropriate for inclusion in a Stock Grant Agreement or Stock Purchase Agreement. The provisions of the various Stock Grant Agreements
and Stock Purchase Agreements entered into under the Plan need not be identical. 
 (b) Duration of Offers and Nontransferability of
Rights 
 Any right to purchase Shares under the Plan (other than an Option) shall automatically expire if not exercised by the Purchaser
within 30 days (or such other period as may be specified in the Award Agreement) after the grant of such right was communicated to the Purchaser by the Company. Such right is not transferable and may be exercised only by the Purchaser to whom such
right was granted. 
 (c) Purchase Price 

The Board of Directors shall determine the Purchase Price of Shares to be offered under the Plan at its sole discretion. The Purchase Price
shall be payable in a form described in Section 8. 
 SECTION 6. TERMS AND CONDITIONS OF OPTIONS 

(a) Stock Option Agreement 

Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. The Option shall be
subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and that the Board of Directors deems appropriate for inclusion in a Stock Option Agreement. The
provisions of the various Stock Option Agreements entered into under the Plan need not be identical. 
 (b) Number of Shares 

Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such
number in accordance with Section 9. The Stock Option Agreement shall also specify whether the Option is an ISO or an NSO. 

  
 3 

 (c) Exercise Price 

(i) General. Each Stock Option Agreement shall specify the Exercise Price, which shall be payable in a form described in
Section 8. Subject to the remaining provisions of this Subsection (c), the Exercise Price shall be determined by the Board of Directors in its sole discretion. 

(ii) ISOs. The Exercise Price of an ISO shall not be less than 100% of the Fair Market Value of a Share on the Date of
Grant, and a higher percentage may be required by Section 3(b). This Subsection (c)(ii) shall not apply to an ISO granted pursuant to an assumption of, or substitution for, another incentive stock option in a manner that complies with Code
Section 424(a). 
 (iii) NSOs. Except as specifically set forth in this Subsection (c)(iii), the Exercise Price
of an NSO shall not be less than 100% of the Fair Market Value of a Share on the Date of Grant. This Subsection (c)(iii) shall not apply to an NSO granted to a person who is not a U.S. taxpayer on the Date of Grant or to an NSO that is intended
either to be exempt from Code Section 409A as a “short-term deferral” or to comply with the requirements of Code Section 409A. In addition, this Subsection (c)(iii) shall not apply to an NSO granted pursuant to an assumption of,
or substitution for, another stock option in a manner that complies with Code Section 409A. 
 (d) Vesting and Exercisability

 Each Stock Option Agreement shall specify the date when all or any installment of the Option is to become vested and exercisable. No
Option shall be exercisable unless the Optionee (i) has delivered an executed copy of the Stock Option Agreement to the Company or otherwise agrees to be bound by the terms of the Stock Option Agreement. The Board of Directors shall determine
the vesting and exercisability provisions of the Stock Option Agreement at its sole discretion. 
 (e) Basic Term 

The Stock Option Agreement shall specify the term of the Option. The term shall not exceed 10 years from the Date of Grant, and in the case of
an ISO, a shorter term may be required by Section 3(b). Subject to the preceding sentence, the Board of Directors at its sole discretion shall determine when an Option is to expire. 

  
 4 

 (f) Termination of Service (Except by Death) 

If an Optionee’s Service terminates for any reason other than the Optionee’s death, then the Optionee’s Options shall expire on
the earliest of the following dates: 
 (i) The expiration date determined pursuant to Subsection (e) above; 

(ii) The date three months after the termination of the Optionee’s Service for any reason other than Disability, or such
earlier or later date as the Board of Directors may determine (but in no event earlier than 30 days after the termination of the Optionee’s Service); or 

(iii) The date six months after the termination of the Optionee’s Service by reason of Disability, or such later date as
the Board of Directors may determine. 
 The Optionee may exercise all or part of the Optionee’s Options at any time before the expiration of such
Options under the preceding sentence, but only to the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares had vested before
the Optionee’s Service terminated (or vested as a result of the termination). In the event that the Optionee dies after the termination of the Optionee’s Service but before the expiration of the Optionee’s Options, all or part of such
Options may be exercised (prior to expiration) by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the Optionee by beneficiary designation, bequest or inheritance, but only to
the extent that such Options had become exercisable before the Optionee’s Service terminated (or became exercisable as a result of the termination) and the underlying Shares had vested before the Optionee’s Service terminated (or vested as
a result of the termination). In no event will an Option, or the Shares underlying an Option, become vested and/or exercisable after termination of the Optionee’s Service unless the Board of Directors takes affirmative action or unless
expressly provided in a written agreement between the Company and the Optionee. 
 (g) Leaves of Absence 

For purposes of Subsection (f) above, Service shall be deemed to continue while the Optionee is on a bona fide leave of absence approved
by the Company in writing. 
 (h) Death of Optionee 

If an Optionee dies while the Optionee is in Service, then the Optionee’s Options shall expire on the earlier of the following dates: 

(i) The expiration date determined pursuant to Subsection (e) above; or 

  
 5 

 (ii) The date 12 months after the Optionee’s death, or such earlier or
later date as the Board of Directors may determine (but in no event earlier than six months after the Optionee’s death). 
 All or part of the
Optionee’s Options may be exercised at any time before the expiration of such Options under the preceding sentence by the executors or administrators of the Optionee’s estate or by any person who has acquired such Options directly from the
Optionee by beneficiary designation, bequest or inheritance, but only to the extent that such Options had become exercisable before the Optionee’s death (or became exercisable as a result of the death) and the underlying Shares had vested
before the Optionee’s death (or vested as a result of the Optionee’s death). In no event will an Option, or the Shares underlying an Option, become vested and/or exercisable after the Optionee’s death unless the Board of Directors
takes affirmative action or unless expressly provided in a written agreement between the Company and the Optionee. 
 (i) Restrictions on
Transfer of Options 
 An Option shall be transferable by the Optionee only by (i) a beneficiary designation, (ii) a will or
(iii) the laws of descent and distribution, except as provided in the next sentence. If the Board of Directors so provides, in a Stock Option Agreement or otherwise, an NSO may be transferable to the extent permitted by Rule 701 under the
Securities Act. An ISO may be exercised during the lifetime of the Optionee only by the Optionee or by the Optionee’s guardian or legal representative. 

(j) No Rights as a Stockholder 

An Optionee, or a transferee of an Optionee, shall have no rights as a stockholder with respect to any Shares covered by the Optionee’s
Option until such person submits a notice of exercise, pays the Exercise Price and satisfies all applicable withholding taxes pursuant to the terms of such Option. 

(k) Modification, Extension and Assumption of Options 

Within the limitations of the Plan, the Board of Directors may modify, reprice, extend or assume outstanding Options or may accept the
cancellation of outstanding options (whether granted by the Company or another issuer) in return for the grant of new Options or a different type of award for the same or a different number of Shares and at the same or a different Exercise Price (if
applicable). The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee’s rights or increase the Optionee’s obligations under such Option; provided, however, that a
modification of an Option that is otherwise favorable to the Optionee (for example, providing the Optionee with additional time to exercise the Option after termination of employment or providing for additional forms of payment) but causes the
Option to lose its tax-favored status (for example, as an ISO) shall not require the consent of the Optionee. 

  
 6 

 (l) Company’s Right to Cancel Certain Options 

Any other provision of the Plan or a Stock Option Agreement notwithstanding, the Company shall have the right at any time to cancel an Option
that was not granted in compliance with Rule 701 under the Securities Act. Prior to canceling such Option, the Company shall give the Optionee not less than 30 days’ notice in writing. If the Company elects to cancel such Option, it shall
deliver to the Optionee consideration with an aggregate value equal to the excess of (i) the Fair Market Value of the Shares subject to such Option as of the time of the cancellation over (ii) the Exercise Price of such Option. The
consideration may be delivered in the form of cash or cash equivalents, in the form of Shares, or a combination of both. If the consideration would be a negative amount, such Option may be cancelled without the delivery of any consideration. 

SECTION 7. TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS 

(a) Restricted Stock Unit Agreement 

Each grant of Restricted Stock Units under the Plan shall be evidenced by a Restricted Stock Unit Agreement between the recipient and the
Company. Such Restricted Stock Units shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions that are not inconsistent with the Plan and which the Board of Directors deems appropriate
for inclusion in a Restricted Stock Unit Agreement. The provisions of the various Restricted Stock Unit Agreements entered into under the Plan need not be identical. 

(b) Payment for Restricted Stock Units 

No cash consideration shall be required of the recipient in connection with the grant of Restricted Stock Units. 

(c) Vesting Conditions 

Each Restricted Stock Unit Agreement shall specify the vesting requirements applicable to the Restricted Stock Units subject thereto, which the
Board of Directors shall determine in its sole discretion. 
 (d) Forfeiture 

Unless a Restricted Stock Unit Agreement provides otherwise, upon termination of the recipient’s Service and upon such other times
specified in the Restricted Stock Unit Agreement, any unvested Restricted Stock Units shall be forfeited to the Company. 
 (e) Voting
and Dividend Rights 
 The holders of Restricted Stock Units shall have no voting rights. Prior to settlement or forfeiture, any
Restricted Stock Unit granted under the Plan may, at the discretion of the Board of Directors, carry with it a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Share
while the Restricted Stock Unit is outstanding. Dividend equivalents may be converted into additional Restricted Stock Units. Settlement of dividend equivalents may be made in the form of cash, in the form of Shares, or in a combination of both.
Prior to distribution, any dividend equivalents that are not paid shall be subject to the same conditions and restrictions as the Restricted Stock Units to which they attach. 

  
 7 

 (f) Form and Time of Settlement of Restricted Stock Units 

Settlement of vested Restricted Stock Units may be made in the form of (i) cash, (ii) Shares or (iii) any combination of both, as
determined by the Board of Directors. The actual number of Restricted Stock Units eligible for settlement may be larger or smaller than the number included in the original award, based on predetermined performance factors. Vested Restricted Stock
Units shall be settled in such manner and at such time(s) as specified in the Restricted Stock Unit Agreement. Until Restricted Stock Units are settled, the number of Shares represented by such Restricted Stock Units shall be subject to adjustment
pursuant to Section 9. 
 (g) Death of Recipient 

Any Restricted Stock Units that become distributable after the Participant’s death shall be distributed to the Participant’s estate
or to any person who has acquired such Restricted Stock Units directly from the recipient by beneficiary designation, bequest or inheritance. 

(h) Creditors’ Rights 

A holder of Restricted Stock Units shall have no rights other than those of a general creditor of the Company. Restricted Stock Units represent
an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Restricted Stock Unit Agreement. 

(i) Modification, Extension and Assumption of Restricted Stock Units 

Within the limitations of the Plan, the Board of Directors may modify, extend or assume outstanding restricted stock units (whether granted by
the Company or a different issuer). The foregoing notwithstanding, no modification of a Restricted Stock Unit shall, without the consent of the Participant, impair the Participant’s rights or increase the Participant’s obligations under
such Restricted Stock Unit. 
 (j) Restrictions on Transfer of Restricted Stock Units 

A Restricted Stock Unit shall be transferable by the Participant only by (i) a beneficiary designation, (ii) a will or (iii) the
laws of descent and distribution, except as provided in the next sentence. In addition, if the Board of Directors so provides, in a Restricted Stock Unit Agreement or otherwise, a Restricted Stock Unit shall also be transferable to the extent
permitted by Rule 701 under the Securities Act. 

  
 8 

 SECTION 8. PAYMENT FOR SHARES 

(a) General Rule 
 The
entire Purchase Price or Exercise Price of Shares issued under the Plan shall be payable in cash or cash equivalents at the time when such Shares are purchased, except as otherwise provided in this Section 8. In addition, the Board of Directors
in its sole discretion may also permit payment through any of the methods described in (b) through (g) below. 
 (b) Services
Rendered 
 Shares may be awarded under the Plan in consideration of services rendered to the Company, a Parent or a Subsidiary prior to
the award. 
 (c) Promissory Note 

All or a portion of the Purchase Price or Exercise Price (as the case may be) of Shares issued under the Plan may be paid with a promissory
note. The Shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon. The interest rate payable under the terms of the promissory note shall not be less than the minimum rate (if any) required
to avoid the imputation of additional interest under the Code. Subject to the foregoing, the Board of Directors in its sole discretion shall specify the term, interest rate, recourse, amortization requirements (if any) and other provisions of such
note. 
 (d) Surrender of Stock 

All or any part of the Exercise Price may be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the
Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when the Option is exercised. 

(e) Cashless Exercise 

All or part of the Exercise Price and any withholding taxes may be paid pursuant to a cashless exercise arrangement (whether through a
securities broker or otherwise) established by the Company whereby Shares subject to an Option are sold and all or part of the sale proceeds are delivered to the Company. 

(f) Net Exercise 
 An
Option may permit exercise through a “net exercise” arrangement pursuant to which the Company will reduce the number of Shares issued upon exercise by the largest whole number of Shares having an aggregate Fair Market Value (determined by
the Board of Directors as of the exercise date) that does not exceed the aggregate Exercise Price or the sum of the aggregate Exercise Price and any withholding taxes (with the Company accepting from the 

  
 9 

 
Optionee payment of cash or cash equivalents to satisfy any remaining balance of the aggregate Exercise Price and, if applicable, any additional withholding taxes not satisfied through such
reduction in Shares); provided that to the extent Shares subject to an Option are withheld in this manner, the number of Shares subject to the Option following the net exercise will be reduced by the sum of the number of Shares withheld and
the number of Shares delivered to the Optionee as a result of the exercise. 
 (g) Other Forms of Payment 

To the extent that an Award Agreement so provides, the Purchase Price or Exercise Price of Shares issued under the Plan may be paid in any
other form permitted by the Delaware General Corporation Law, as amended. 
 SECTION 9. ADJUSTMENT OF SHARES 

(a) General 
 In the event
of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of
issued shares of Stock effected without receipt of consideration by the Company, proportionate adjustments shall automatically be made, as applicable, in each of (i) the number and kind of Shares available under Section 4, (ii) the number
and kind of Shares covered by each outstanding Option, Award of Restricted Stock Units and any outstanding and unexercised right to purchase Shares that has not yet expired pursuant to Section 5(b), (iii) the Exercise Price under each
outstanding Option and the Purchase Price applicable to any unexercised stock purchase right described in clause (ii) above, and (iv) any repurchase price that applies to Shares granted under the Plan pursuant to the terms of a Company
repurchase right under the applicable Award Agreement. In the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization,
a spin-off, or a similar occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of the items listed in clauses (i) through (iv) above; provided, however,
that the Board of Directors shall in any event make such adjustments as may be required by Section 25102(o) of the California Corporations Code to the extent the Company is relying on the exemption afforded thereunder with respect to an Award.
No fractional Shares shall be issued under the Plan as a result of an adjustment under this Section 9(a), although the Board of Directors in its sole discretion may make a cash payment in lieu of fractional Shares. 

(b) Corporate Transactions 

In the event that the Company is a party to a merger or consolidation, or in the event of a sale of all or substantially all of the
Company’s stock or assets, all Shares acquired under the Plan and all Awards outstanding on the effective date of the transaction shall be treated 

  
 10 

 
in the manner described in the definitive transaction agreement (or, in the event the transaction does not entail a definitive agreement to which the Company is party, in the manner determined by
the Board of Directors in its capacity as administrator of the Plan, with such determination having final and binding effect on all parties), which agreement or determination need not treat all Awards (or all portions of an Award) in an identical
manner. The treatment specified in the transaction agreement or as determined by the Board of Directors may include (without limitation) one or more of the following with respect to each outstanding Award: 

(i) The Company, the surviving corporation or a parent thereof may continue or assume the Award or substitute a comparable
award for the Award (including, but not limited to, an award to acquire the same consideration paid to the holders of Shares in the transaction). For avoidance of doubt, a comparable award need not be the same type of award as the Award for which it
is substituted, and, in the case of an Option, need not have the same tax-status (e.g., an NSO may be substituted for an ISO). 

(ii) The cancellation of the Award and a payment to the Participant with respect to each Share subject to the portion of the
Award that is vested as of the transaction date equal to the excess of (A) the value, as determined by the Board of Directors in its absolute discretion, of the property (including cash) received by the holder of a share of Stock as a result of
the transaction, over (if applicable) (B) the per-Share Exercise Price of the Award (such excess, the “Spread”). Such payment shall be made in the form of cash, cash equivalents, or securities of the surviving corporation or
its parent having a value equal to the Spread. In addition, any escrow, indemnification, holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the same extent and
in the same manner as such provisions apply to the holders of Stock. Receipt of the payment described in this Subsection (b)(ii) may be conditioned upon the Participant acknowledging such escrow, indemnification, holdback, earn-out or other provisions on a form prescribed by the Company. If the Spread applicable to an Award is zero or a negative number, then the Award may be cancelled without making a payment to the Participant. 

(iii) Even if the Spread applicable to an Option is a positive number, the Option may be cancelled without the payment of any
consideration; provided that the Optionee shall be notified of such treatment and given an opportunity to exercise the Option (to the extent the Option is vested or becomes vested as of the effective date of the transaction) during a period of not
less than five (5) business days preceding the effective date of the transaction, unless (A) a shorter period is required to permit a timely closing of the transaction and (B) such shorter period still offers the Optionee a reasonable
opportunity to exercise the Option. 
 (iv) In the case of an Option: (A) suspension of the Optionee’s right to
exercise the Option during a limited period of time preceding the closing of the transaction if such suspension is administratively necessary to facilitate the closing of the transaction and/or (B) termination of any right the Optionee has to
exercise the Option prior to vesting in the Shares subject to the Option (i.e., “early exercise”), such that following the closing of the transaction the Option may only be exercised to the extent it is vested. 

  
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 For the avoidance of doubt, the Board of Directors has discretion to accelerate, in whole or part, the
vesting and exercisability of an Award in connection with a corporate transaction covered by this Section 9(b). 
 (c) Dissolution
or Liquidation 
 To the extent not previously exercised or settled, Options, Restricted Stock Units and other rights to purchase Shares
shall terminate immediately prior to the liquidation or dissolution of the Company. 
 (d) Reservation of Rights 

Except as provided in Section 7(e) or this Section 9, a Participant shall have no rights by reason of (i) any subdivision or
consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Award. The grant of an Award pursuant to the Plan
shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any
part of its business or assets. 
 SECTION 10. MISCELLANEOUS PROVISIONS 

(a) Securities Law Requirements 

Shares shall not be issued under the Plan unless, in the opinion of counsel acceptable to the Board of Directors, the issuance and delivery of
such Shares complies with (or is exempt from) all applicable requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any
stock exchange or other securities market on which the Company’s securities may then be traded. The Company shall not be liable for a failure to issue Shares as a result of such requirements. Without limiting the foregoing, the Company may
suspend the exercise of some or all outstanding Options for a period of up to 60 days in order to facilitate compliance with Securities Act Rule 701(e). 

  
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 (b) No Retention Rights 

Nothing in the Plan or in any right or Award granted under the Plan shall confer upon the Participant any right to continue in Service for any
period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Parent or Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each,
to terminate his or her Service at any time and for any reason, with or without cause. 
 (c) Treatment as Compensation 

Any compensation that an individual earns or is deemed to earn under this Plan shall not be considered a part of his or her compensation for
purposes of calculating contributions, accruals or benefits under any other plan or program that is maintained or funded by the Company, a Parent or a Subsidiary. 

(d) Governing Law 
 The
Plan and all awards, sales and grants under the Plan shall be governed by, and construed in accordance with, the laws of the State of Delaware (except its choice-of-law
provisions), as such laws are applied to contracts entered into and performed in such State. 
 (e) Conditions and Restrictions on
Shares 
 Shares issued under the Plan shall be subject to such forfeiture conditions, rights of repurchase, rights of first refusal,
other transfer restrictions and such other terms and conditions as the Board of Directors may determine. Such conditions and restrictions shall be set forth in the applicable Award Agreement and shall apply in addition to any restrictions that may
apply to holders of Shares generally. In addition, Shares issued under the Plan shall be subject to conditions and restrictions imposed either by applicable law or by Company policy, as adopted from time to time, designed to ensure compliance with
applicable law or laws with which the Company determines in its sole discretion to comply including in order to maintain any statutory, regulatory or tax advantage, which (for avoidance of doubt) need not be set forth in the applicable Award
Agreement. 
 (f) Tax Matters 

(i) As a condition to the award, grant, issuance, vesting, purchase, exercise, settlement or transfer of any Award, or Shares
issued pursuant to any Award, granted under this Plan, the Participant shall make such arrangements as the Board of Directors may require or permit for the satisfaction of any federal, state, local or foreign withholding tax obligations that may
arise in connection with such event. 
 (ii) Unless otherwise expressly set forth in an Award Agreement, it is intended that
Awards shall be exempt from Code Section 409A, and any ambiguity in the terms of an Award Agreement and the Plan shall be 

  
 13 

 
interpreted consistently with this intent. To the extent an Award is not exempt from Code Section 409A (any such award, a “409A Award”), any ambiguity in the terms of such
Award and the Plan shall be interpreted in a manner that to the maximum extent permissible supports the Award’s compliance with the requirements of that statute. Notwithstanding anything to the contrary permitted under the Plan, in no event
shall a modification of an Award not already subject to Code Section 409A, or any subsequent action taken with respect to such Award, be given effect if such modification or action would cause the Award to become subject to Code
Section 409A unless the parties explicitly acknowledge and consent to the modification or action as one having that effect. A 409A Award shall be subject to such additional rules and requirements as specified by the Board of Directors from time
to time in order for it to comply with the requirements of Code Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation from service” to an individual who is considered a “specified
employee” (as each term is defined under Code Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the Participant’s separation from service or (ii) the
Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to Section 409A(a)(1). In addition, if a transaction subject to Section 9(b) constitutes a payment event with respect to
any 409A Award, then the transaction with respect to such award must also constitute a “change in control event” as defined in Treasury Regulation Section 

1.409A-3(i)(5) to the extent required by Code Section 409A. 

(iii) Neither the Company nor any member of the Board of Directors shall have any liability to a Participant in the event an
Award held by the Participant fails to achieve its intended characterization under applicable tax law. 
 SECTION 11. DURATION AND AMENDMENTS;
STOCKHOLDER APPROVAL 
 (a) Term of the Plan 

The Plan, as set forth herein, shall become effective on the date of its adoption by the Board of Directors, subject to approval of the
Company’s stockholders under Subsection (d) below. The Plan shall terminate automatically 10 years after the later of (i) the date when the Board of Directors adopted the Plan or (ii) the date when the Board of Directors approved
the most recent increase in the number of Shares reserved under Section 4 that was also approved by the Company’s stockholders. The Plan may be terminated on any earlier date pursuant to Subsection (b) below. 

  
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 (b) Right to Amend or Terminate the Plan 

Subject to Subsection (d) below, the Board of Directors may amend, suspend or terminate the Plan at any time and for any reason. 

(c) Effect of Amendment or Termination 

No Shares shall be issued or sold and no Award granted under the Plan after the termination thereof, except upon exercise or settlement of an
Award granted under the Plan prior to such termination. Except as expressly provided in Section 6(k) above, the termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Award previously granted
under the Plan. 
 (d) Stockholder Approval 

To the extent required by applicable law, the Plan will be subject to approval of the Company’s stockholders within 12 months of its
adoption date. An amendment of the Plan will be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules. 

SECTION 12. DEFINITIONS 
 (a)
“Award” means any award granted under the Plan, including as an Option, an award of Restricted Stock Units or the grant or sale of Shares pursuant to Section 5 of the Plan. 

(b) “Award Agreement” means a Restricted Stock Unit Agreement, Stock Grant Agreement, Stock Option Agreement or Stock
Purchase Agreement or such other agreement evidencing an Award under the Plan. 
 (c) “Board of Directors” means the Board
of Directors of the Company, as constituted from time to time. 
 (d) “Code” means the Internal Revenue Code of 1986, as
amended. 
 (e) “Committee” means a committee of the Board of Directors, as described in Section 2(a). 

(f) “Company” means UiPath, Inc., a Delaware corporation. 

(g) “Consultant” means a person, excluding Employees and Outside Directors, who performs bona fide services for the Company,
a Parent or a Subsidiary as a consultant or advisor and who qualifies as a consultant or advisor under Rule 701(c)(1) of the Securities Act or under Instruction A.1.(a)(1) of Form S-8 under the Securities Act.

  
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 (h) “Date of Grant” means the date of grant specified in the Award
Agreement, which date shall be the later of (i) the date on which the Board of Directors resolved to grant the Award or (ii) the first day of the Participant’s Service. 

(i) “Disability” means that the Optionee is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment. 
 (j) “Employee” means any individual who is a commonlaw employee of the
Company, a Parent or a Subsidiary. 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(l) “Exercise Price” means the amount for which one Share may be purchased upon exercise of an Option, as specified by the
Board of Directors in the applicable Stock Option Agreement. 
 (m) “Fair Market Value” means the fair market value of a
Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 
 (n)
“Grantee” means a person to whom the Board of Directors has awarded Shares under the Plan. 
 (o) “ISO”
means an Option that qualifies as an incentive stock option as described in Code Section 422(b). Notwithstanding its designation as an ISO, an Option that does not qualify as an ISO under applicable law shall be treated for all purposes as an
NSO. 
 (p) “NSO” means an Option that does not qualify as an incentive stock option as described in Code
Section 422(b) or 423(b). 
 (q) “Option” means an ISO or NSO granted under the Plan and entitling the holder to
purchase Shares. 
 (r) “Optionee” means a person who holds an Option. 

(s) “Outside Director” means a member of the Board of Directors who is not an Employee. 

(t) “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if
each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date
after the adoption of the Plan shall be considered a Parent commencing as of such date. 

  
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 (u) “Participant” means the holder of an outstanding Award. 

(v) “Plan” means this UiPath, Inc. 2018 Stock Plan. 

(w) “Purchase Price” means the consideration for which one Share may be acquired under the Plan (other than upon exercise of
an Option), as specified by the Board of Directors. 
 (x) “Purchaser” means a person to whom the Board of Directors has
offered the right to purchase Shares under the Plan (other than upon exercise of an Option). 
 (y) “Restricted Stock Unit”
means a bookkeeping entry representing the equivalent of one Share, as awarded under the Plan. 
 (z) “Restricted Stock Unit
Agreement” means the agreement between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit. 

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

(bb) “Service” means service as an Employee, Outside Director or Consultant. In case of any dispute as to whether and when
Service has terminated, the Board of Directors shall have sole discretion to determine whether such termination has occurred and the effective date of such termination. 

(cc) “Share” means one share of Stock, as adjusted in accordance with Section 9 (if applicable). 

(dd) “Stock” means the Common Stock of the Company. 

(ee) “Stock Grant Agreement” means the agreement between the Company and a Grantee who is awarded Shares under the Plan that
contains the terms, conditions and restrictions pertaining to the award of such Shares. 
 (ff) “Stock Option Agreement”
means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option. 

(gg) “Stock Purchase Agreement” means the agreement between the Company and a Purchaser who purchases Shares under the Plan
that contains the terms, conditions and restrictions pertaining to the purchase of such Shares. 
 (hh) “Subsidiary” means
any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

  
 17 

 EXHIBIT A 

SCHEDULE OF SHARES RESERVED FOR ISSUANCE
UNDER THE PLAN 
  

							
	 Date of Board

Approval
	  	 Date of Stockholder

Approval
	  	 Number of

Shares Added
	  	 Cumulative Number

of Shares

		  		  	Not Applicable	  	

  

  
 18

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