Document:

QEP Resources, Inc. Supplemental Executive Retirement Plan

 Exhibit 10.12 

QEP RESOURCES, INC. 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

 QEP RESOURCES, INC. 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

ARTICLE I 

PURPOSE 

QEP Resources, Inc. (the “Company”) hereby establishes this QEP Resources, Inc. Supplemental Executive Retirement Plan (the
“Plan”) in order to enable the Company to attract and retain key management personnel by providing them with supplemental retirement benefits to compensate them for the limitations imposed by federal tax laws on benefits payable from the
QEP Resources, Inc. Retirement Plan (the “Retirement Plan”). The Plan also provides certain participants with the payment of compensation previously deferred under the Questar Corporation Supplemental Executive Retirement Plan, and
additional supplemental retirement benefits that are based on the retirement benefit that these participants would have received under the Retirement Plan had they continued to accrue benefits thereunder following the date of the spin-off of the
Company from Questar Corporation. 
 This Plan is intended to be an unfunded, “top-hat” arrangement providing deferred
compensation to “a select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended. 

ARTICLE II 

DEFINITIONS 

The following terms, when used herein, shall have the meanings set forth below, unless a different meaning is plainly required by the
context: 
 2.1 “Accrued Benefit” has the meaning set forth in the Retirement Plan. 

2.2 “Affiliated Company” means any entity that is treated as the same employer as the Company under Sections 414(b),
(c), (m), or (o) of the Code, any entity required to be aggregated with the Company pursuant to regulations adopted under Code Section 409A, or any entity otherwise designated as an Affiliated Company by the Company. 

2.3 “Assumed Benefits” means, with respect to each Transferred Employee, the aggregate of his or her Pre-409A Benefit,
if any, and Pre-Spinoff Benefit as set forth in Section 6.3. 
 2.4 “Benefit Commencement Date” has the
meaning set forth in Section 7.3. 
 2.5 “Board” means the Board of Directors of the Company. 

2.6 “Change in Control” has the meaning set forth in Section 15.2. 

2.7 “Code” means the Internal Revenue Code of 1986, as amended. 

 

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 2.8 “Committee” means the Compensation Committee of the Board. 

2.9 “Company” means QEP Resources, Inc., a corporation organized and existing under the laws of the State of Delaware,
or its successor or successors. 
 2.10 “Disability” means a condition that renders a Participant unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, as described in
Treas. Reg. Section 1.409A-3(i)(4)(i)(A). A Participant shall not be considered to be disabled unless the Participant furnishes proof of the existence of such disability in such form and manner as may be required by regulations promulgated
under, or applicable to, Code Section 409A. 
 2.11 “Distribution Event” has the meaning set forth in
Section 7.3. 
 2.12 “Earliest Retirement Age” has the meaning set forth in the Retirement Plan.

 2.13 “Effective Date” shall have the meaning set forth in Article III. 

2.14 “Eligible Employee” means any employee (as determined in accordance with Section 3401(c) of the Code and the
Treasury Regulations thereunder) of an Employer who satisfies each of the following conditions: 
 (a) is a member of a
“select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA; 

(b) has an accrued benefit under the Retirement Plan; and 

(c) either (i) receives or is expected to receive compensation in any calendar year in excess of the limitation on annual
compensation that may be taken into account for purposes of providing benefits under a tax-qualified retirement plan pursuant to Section 401(a)(17) of the Code, as adjusted from time to time, or (ii) has deferred compensation under any of
the Company’s nonqualified deferred compensation plans. 
 2.15 “Employer” means the Company and each
Affiliated Company that employs any individual who is a current or former participant in the Retirement Plan and consents to the adoption of the Plan. 

2.16 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

2.17 “Participant” means any individual who has commenced participation in the Plan in accordance with Article IV.

 2.18 “Plan” means this QEP Resources, Inc. Supplemental Executive Retirement Plan, as amended or restated
from time to time. 
  

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 2.19 “Post-Spinoff Benefit” has the meaning set forth in Section 6.2.

 2.20 “Pre-409A Benefit” has the meaning set forth in Section 6.3(b). 

2.21 “Pre-Spinoff Benefit” has the meaning set forth in Section 6.3(a). 

2.22 “Questar Plan” means the Questar Corporation Supplemental Executive Retirement Plan, as amended and restated
effective January 1, 2005, including its predecessor plans as set forth therein. 
 2.23 “Questar Retirement
Plan” means the Questar Corporation Retirement Plan, as amended and restated effective January 1, 2009, as in effect as of the “Distribution Date” (as such term is defined in the Separation Agreement) and without regard to
any subsequent amendment or restatement thereof. 
 2.24 “Retirement Income” has the meaning set forth in the
Retirement Plan. 
 2.25 “Retirement Plan” means the QEP Resources, Inc. Retirement Plan, as amended or
restated from time to time, or any successor plan. If not otherwise defined, capitalized words or terms used in the Plan shall have the same definitions used in the Retirement Plan. 

2.26 “Separation Agreement” means that certain Separation and Distribution Agreement, by and between Questar Corporation
and the Company, dated as of June 14, 2010). 
 2.27 “Separation from Service” means a “separation
from service” within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulation Section 1.409A-1(h). 

2.28 “Supplemental Retirement Benefit” means (i) with respect to any Eligible Employee who becomes a Participant on
or after the Effective Date, the supplemental retirement benefits payable as set forth in Article V hereof, and (ii) with respect to any Transferred Employee, the supplemental retirement benefits payable as set forth in Article VI hereof.

 2.29 “Transferred Employee” means any “QEP Employee” (as defined in that certain Employee Matters
Agreement, by and between Questar Corporation and the Company, dated as of June 14, 2010) who either had an accrued benefit or was eligible to participate in the Questar Plan immediately prior to the Effective Date. 

ARTICLE III 

EFFECTIVE DATE 

The terms of the Plan shall govern all compensation deferred hereunder on or after the “Distribution Date” (as such term is
defined in the Separation Agreement) (such date, the “Effective Date”); provided, however, in the event that the Separation Agreement is terminated or the Distribution otherwise does not occur for any reason, this Plan shall automatically,
and without notice, terminate and shall be of no force or effect and no participants shall have any rights or interests hereunder. 
  

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 ARTICLE IV 

PARTICIPATION IN THE PLAN; ELIGIBILITY FOR BENEFITS; VESTING 

4.1 General. 

(a) Any individual who is an Eligible Employee shall become a Participant in the Plan if (and when) the individual receives written
notification from the Committee or its designee, in its sole and absolute discretion, that the individual has been selected to participate in the Plan. Once a Participant, the individual shall be eligible to accrue Supplemental Retirement Benefits
under Article V of the Plan. 
 (b) Notwithstanding any other provision herein, each Transferred Employee shall automatically
become a Participant in the Plan as of the Effective Date. 
 4.2 Failure of Eligibility. If the Committee determines, in
its sole and absolute discretion, that any Participant is no longer an Eligible Employee or no longer qualifies as a member of a select group of management or highly compensated employees of the Employer, the Participant shall cease active
participation in this Plan and all accruals under this Plan by or on behalf of the Participant shall cease as of the date of such determination by the Committee. The Committee’s determination hereunder shall be final and binding on all persons.

 4.3 Vesting. 

(a) Each Participant, other than a Transferred Employee, shall vest in his or her Supplemental Retirement Benefits under Article V of the
Plan upon the later of (i) the date on which the Participant becomes vested in his or her Accrued Benefit under the Retirement Plan, or (ii) the earlier of (A) the 13-month anniversary of the date on which such individual first
becomes a Participant in the Plan, provided that such individual remains continuously employed by an Employer throughout such period, (B) the date of the Participant’s death or Disability, or (C) the occurrence of a Change in Control;
provided, however, in the event that the Participant’s employment with an Employer is terminated for any reason prior to the Participant becoming vested in his or her Supplemental Retirement Benefits, the Participant shall forfeit any
right, title and interest to any such benefits under the Plan immediately upon such termination of employment. 
 (b)
Notwithstanding the foregoing, each Transferred Employee who first became eligible to participate in the Questar Plan on or after January 1, 2008 shall vest in his or her Post-Spinoff Benefits and, if applicable, such portion of his or her
Pre-Spinoff Benefits that accrued during the period beginning on or after January 1, 2008 and ending immediately prior to the Effective Date, upon the later of (i) the date on which the Transferred Employee becomes vested in his or her
Accrued Benefit under the Retirement Plan (as assumed by the Company from the Questar Plan pursuant to Section 6.3), or (ii) the earlier of (A) the 13-month anniversary of the date on which such individual first became a Participant
in the Questar Plan, provided that such individual remains continuously employed by an Employer throughout such period (which shall be 

 

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deemed to include any period of continuous employment with Questar or its affiliates prior to the Effective Date), (B) the date of the Transferred Employee’s death or Disability, or
(C) the occurrence of a Change in Control; provided, however, in the event that the Transferred Employee’s employment with an Employer is terminated for any reason prior to the Transferred Employee becoming vested in his or her
Post-Spinoff Benefits and, if applicable, such portion of his or her Pre-Spinoff Benefits, the Transferred Employee shall forfeit any right, title and interest to any such benefits immediately upon such termination of employment. 

(c) Notwithstanding the foregoing, each Transferred Employee who first became eligible to participate in the Questar Plan prior to
January 1, 2008 shall vest in his or her Post-Spinoff Benefits and, if applicable, such portion of his or her Pre-Spinoff Benefits that accrued during the period beginning on or after January 1, 2005 and ending on December 31, 2007
and his or her Pre-409A Benefit, upon becoming vested in his or her Accrued Benefit under the Retirement Plan (as assumed by the Company from the Questar Plan pursuant to Section 6.3). 

ARTICLE V 

SUPPLEMENTAL RETIREMENT BENEFITS 

FOR NEW PARTICIPANTS 

An Eligible Employee who first becomes a Participant pursuant to Section 4.1(a) shall be eligible to receive a Supplemental
Retirement Benefit under the Plan equal to the following: 
 (a) The total amount of Retirement Income that would have been
payable under the Retirement Plan (whether to the Participant or the Participant’s spouse or beneficiary) if (A) the limitation on annual benefits imposed by Section 415 of the Code were not applicable, (B) the limitation on
annual compensation imposed by Section 401(a)(17) of the Code were not applicable, and (C) the Participant had not voluntarily chosen to defer any compensation under the terms of any of the Company’s nonqualified deferred compensation
plans, less 
 (b) The actual Retirement Income payable under the Retirement Plan (whether to the Participant or the
Participant’s spouse or beneficiary). 
 Distribution of a Participant’s Supplemental Retirement Benefit shall be determined in
accordance with the applicable provisions of Articles VII and XV. 
 ARTICLE VI 

SUPPLEMENTAL RETIREMENT BENEFITS 

FOR TRANSFERRED EMPLOYEES 

6.1 Applicability of Section. Each Transferred Employee shall be eligible to receive those Supplemental Retirement Benefits
described in Sections 6.2 and 6.3, to the extent applicable. 
  

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 6.2 Post-Spinoff Benefits. On and after the Effective Date, each Transferred Employee
shall be eligible to receive a benefit (the “Post-Spinoff Benefit”) under the Plan equal to the following: 
 (a) The
total amount of Retirement Income that would have been payable under the Retirement Plan (whether to the Transferred Employee or the Transferred Employee’s spouse or beneficiary) if (I) “Compensation” (as defined in the
Retirement Plan) included the compensation paid to the Transferred Employee on and after the Effective Date by an Employer, and “Credited Service” (as defined in the Retirement Plan) included the Transferred Employee’s period of
employment with an Employer on and after the Effective Date, subject to such other terms and conditions set forth in the Retirement Plan, (II) the limitation on annual benefits imposed by Section 415 of the Code were not applicable, (III) the
limitation on annual compensation imposed by Section 401(a)(17) of the Code were not applicable, and (IV) the Transferred Employee had not voluntarily chosen to defer any compensation under the terms of any of the Company’s nonqualified
deferred compensation plans, less 
 (b) The actual Retirement Income payable under the Retirement Plan (whether to the
Transferred Employee or the Transferred Employee’s spouse or beneficiary). 
 Distribution of a Transferred Employee’s Post-Spinoff
Benefit shall be determined in accordance with the applicable provisions of Articles VII and XV. 
 6.3 Assumed Benefits.
As of the Effective Date, the Company has assumed all accrued benefits under the Questar Plan with respect to each Transferred Employee (“Assumed Benefits”), and as of the Effective Date, Questar shall have no further liabilities or
obligations with respect to such Assumed Benefits, which shall include the following: 
 (a) Pre-Spinoff Benefit. The
total amount of “Retirement Income” that would have been payable under the Questar Retirement Plan as defined therein (whether to the Transferred Employee or the Transferred Employee’s spouse or beneficiary) immediately prior to the
Effective Date if (I) the limitation on annual benefits imposed by Section 415 of the Code were not applicable, (II) the limitation on annual compensation imposed by Section 401(a)(17) of the Code were not applicable, and (III) the
Transferred Employee had not voluntarily chosen to defer any compensation under the terms of any of Questar’s nonqualified deferred compensation plans, less the actual “Retirement Income” payable under the Questar Retirement
Plan as defined therein (whether to the Transferred Employee or the Transferred Employee’s spouse or beneficiary) immediately prior to the Effective Date, but excluding any Pre-409A Benefit (the “Pre-Spinoff Benefit”). For the
avoidance of doubt, the Pre-Spinoff Benefit shall only include “amounts deferred” after December 31, 2004 and prior to the Effective Date within the meaning of Code Section 409A. Distribution of a Transferred Employee’s
Pre-Spinoff Benefit shall be determined in accordance with the applicable provisions of Articles VII and XV. 
 (b) Pre-409A
Benefits. Any portion of a Transferred Employee’s “Supplemental Retirement Benefit” under the Questar Plan as defined therein that constitutes an “amount deferred” prior to January 1, 2005 as determined pursuant to
Code Section 409A, Treas. Reg. Section 1.409A-6(a)(3), and any subsequent guidance (the “Pre-409A Benefit”). The Pre-409A Benefit shall remain subject to the applicable provisions of the Questar Plan as in effect immediately
prior to the Effective Date as may be amended from time to time, except to the extent that any such modification would result in the Pre-409A Benefit becoming subject to compliance with Code Section 409A. The adoption of this Plan is not
intended to constitute a 
  

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“material modification” (within the meaning of Treas. Reg. Section 1.409A-6(a)(4)) with respect to the Pre-409A Benefits and any provision of the Plan that is deemed to be a
material modification with respect to the Pre-409A Benefits shall have no force and effect unless and until amended to prevent such provision from being considered such a material modification (which amendment may be retroactive). Distribution of a
Transferred Employee’s Pre-409A Benefit shall be determined in accordance with the applicable provisions of the Questar Plan as described in this Section 6.3(b). 

ARTICLE VII 

DISTRIBUTION OF SUPPLEMENTAL RETIREMENT BENEFITS 

7.1 Applicability of Section. This Article VII shall apply to the distribution of (i) a Participant’s Supplemental
Retirement Benefits under Article V and (ii) such portion of a Transferred Employee’s Supplemental Retirement Benefit that constitutes a Pre-Spinoff Benefit and Post-Spinoff Benefit under Sections 6.2 and 6.3(a), respectively. Distribution
of any portion of a Transferred Employee’s Supplemental Retirement Benefit that constitutes a Pre-409A Benefit shall be determined in accordance with Section 6.3(b). 

7.2 Distribution Elections. A Participant’s distribution election with respect to any of the Supplemental Retirement Benefits
described in this Article VII shall be made in accordance with Section 409A(a)(4) of the Code and the regulations thereunder. 

(a) Each Eligible Employee who first becomes a Participant in the Plan pursuant to Section 4.1(a), may elect the time and form of
distribution of his or her Supplemental Retirement Benefits under Article V from among the options available under Sections 7.3 and 7.4 below, provided that such election is made within thirty (30) days after the date on which the Eligible
Employee first becomes a Participant in the Plan. 
 (b) Each Transferred Employee may elect the time and form of distribution
of such portion of his or her Post-Spinoff Benefit for which benefit accruals commence on and after January 1, 2011 from among the options available under Sections 7.3 and 7.4 below, provided that such election is made on or prior to
December 31, 2010. 
 (c) Each Transferred Employee shall automatically be deemed to have elected the same time and form of
distribution with respect to (i) such portion of his or her Post-Spinoff Benefits for which benefits accrue during the period beginning on and after the Effective Date and ending on December 31, 2010 and (ii) his or her Pre-Spinoff
Benefits under this Plan, as the Transferred Employee had elected under the Questar Plan in accordance with its terms with respect to (x) such portion of his or her “Post 409A Benefits” (as defined in the Questar Plan) for which
benefits accrued on or after January 1, 2010, and (y) such portion of his or her “Post 409A Benefits” (as defined in the Questar Plan) for which benefits accrued during the period beginning on or after January 1, 2005 and
ending on December 31, 2009, respectively. 
 (d) Default. If any Participant, including any Transferred Employee,
fails to make a timely election under Section 7.2(a) or 7.2(b) respectively, or such election does not meet the requirements of Code Section 409A and related Treasury guidance or regulations, the

  

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Participant shall be deemed to have elected to receive distribution of his or her Supplemental Retirement Benefits in the form of a lump sum within 60 days following the later of (i) the
Participant’s 55th birthday, or (ii) the
earliest to occur of the Participant’s death, Disability, or Separation from Service. 
 (e) Subsequent Changes in Time
and Form of Distribution. A Participant may irrevocably elect, at least 12 months before a scheduled payment date, to delay the payment date for a minimum period of 5 years from the originally scheduled date of payment, provided that, such
irrevocable election will be effective no earlier than 12 months after the date on which such election is made; further, provided, that any such election shall be made in accordance with Section 409A(a)(4)(C) of the Code and the Treasury
Regulations thereunder, pursuant to procedures and rules prescribed by the Committee in its sole and absolute discretion. 

7.3 Time of Distribution. A Participant may elect to receive distribution of his or her Supplemental
Retirement Benefits under Article V, or if the Participant is a Transferred Employee, may elect to receive distribution of his or her Post-Spinoff Benefit for which benefit accruals commence on and after January 1, 2011, on the date of, or at a
designated anniversary date following, the later of (i) the Participant’s
55th birthday or (ii) the first to occur of any of
the following (the “Distribution Event”): 
 (a) the Participant’s Disability, 

(b) the Participant’s Separation from Service; or 

(c) the Participant’s death. 

The Participant may designate a different distribution date for each of the events specified in clauses (a), (b), and
(c), above; provided, however, that distribution of benefits cannot commence prior to the Participant’s 55th
 birthday or later than the Participant’s
65th birthday. The actual date on which distribution of
benefits commences under this Section or Section 7.2(d), as applicable, shall be the “Benefit Commencement Date.” 

7.4 Forms of Distribution. A Participant may elect to receive distribution of his or her Supplemental Retirement Benefits under
Article V, or if the Participant is a Transferred Employee may elect to receive distribution of his or her Post-Spinoff Benefit for which benefit accruals commence on and after January 1, 2011, in any of the following forms: 

(a) a single lump sum; or 

(b) equal quarterly installments over a period of 1 to 10 years (with actuarial equivalence computed using the interest rate described in
Section 7.5(b)(i) and without regard to the applicable mortality table referenced therein). 
 The Participant may designate a different
form of distribution with respect to each of the different Distribution Events specified in clauses (a), (b), and (c) of Section 7.3. 
  

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 7.5 Calculation of Supplemental Retirement Benefits. 

(a) A Participant’s Supplemental Retirement Benefits under Article V, or if the Participant is a Transferred Employee such portion
of his or her Supplemental Retirement Benefit that constitutes a Pre-Spinoff Benefit and Post-Spinoff Benefit under Sections 6.2 and 6.3(a), shall be calculated in accordance with the respective principles set forth therein on the earliest to occur
of (i) the Benefit Commencement Date or (ii) the first date as of which any benefits under the Retirement Plan commence to either the Participant or the Participant’s spouse or beneficiary (the “Calculation Date”). Such
calculation shall take into account the Participant’s marital status and any related subsidies as of the date such benefit is determined, and shall, in the event that the Participant’s death is the Distribution Event, take into account the
effect that the death of the Participant has on the calculation of Retirement Income. 
 (b) The Committee shall calculate the
distribution of a Participant’s Supplemental Retirement Benefits under Article V, or if the Participant is a Transferred Employee such portion of his or her Supplemental Retirement Benefit that constitutes a Pre-Spinoff Benefit and Post-Spinoff
Benefit under Sections 6.2 and 6.3(a), as follows: 
 (i) The lump-sum present value of the applicable Supplemental Retirement
Benefit shall be determined on the Calculation Date pursuant to Section 7.5(a), using the standard mortality table referred to as the 1983 Group Annuity Mortality table and an interest rate equal to 80% of the average of the IRS 30-year
Treasury Securities Rates for the six-month period preceding the Benefit Commencement Date (the “Lump Sum Present Value”). 

(ii) To the extent that the applicable Supplemental Retirement Benefit is payable after the Calculation Date, the Lump Sum Present Value
of such benefit will be credited with monthly interest for the period commencing on the Calculation Date and ending on the date(s) of distribution, using the 30-year Treasury bond with the closest maturity date (by month) preceding the date on which
the interest is to be credited as quoted in the Wall Street Journal on the first business day of each month. 
 7.6 Effect of
Death on Distributions. 
 (a) Death After Distribution Event. In the event of a Participant’s death following a
Distribution Event, the Participant’s Supplemental Retirement Benefits under Article V, or if the Participant is a Transferred Employee such portion of his or her Supplemental Retirement Benefit that constitutes a Pre-Spinoff Benefit and
Post-Spinoff Benefit under Sections 6.2 and 6.3, to the extent remaining, shall be paid to the beneficiary selected by the Participant pursuant to Article XIV below at the same time and in the same amounts as would have been paid to the Participant
had he or she not died. 
 (b) Death as a Distribution Event. In the event that a Participant’s death is the
Distribution Event for the Participant’s Supplemental Retirement Benefits under Article V, or if the Participant is a Transferred Employee such portion of his or her Supplemental Retirement Benefit that constitutes a Pre-Spinoff Benefit and
Post-Spinoff Benefit under Sections 6.2 and 6.3, such benefits shall be paid to the beneficiary selected by the Participant pursuant to Article XIV below in accordance with the distribution election made (or deemed to have been made) by the
Participant. 
  

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 7.7 Six-Month Delay. Notwithstanding anything to the contrary in the Plan, no
distribution shall be made to a Participant under the Plan on account of the Participant’s Separation from Service during the 6-month period following such Separation from Service to the extent that the Company determines that the Participant
is a “specified employee” (as defined in Section 409A(a)(2)(B)(i) of the Code and the Treasury Regulations thereunder) at the time of such Separation from Service and that paying such amounts at the time or times indicated in the Plan
would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such 6-month period (or such
earlier date upon which such amount can be paid under Section 409A of the Code without being subject to such additional taxes, including as a result of the Participant’s death), a lump-sum distribution shall be made to the Participant
under the Plan equal to the cumulative amount that would have otherwise been payable to the Participant during such 6-month period, plus interest credited at the rate specified in Section 7.5(b)(ii) above. 

ARTICLE VIII 

FUNDING 

The Supplemental Retirement Benefits payable under this Plan shall be paid by the Employers out of their general assets. In its
discretion, the Board may establish a trust fund or make other arrangements to assure payment of the Supplemental Retirement Benefits. Until paid or made available to a Participant or beneficiary, all assets of any trust fund or any account
established by the Company shall be solely the property of the Company and shall be subject to the claims of the general creditors of the Company by means of writs, orders of attachment, garnishment, levies of execution or any other manner in which
a general creditor seeks to satisfy its claims against the Company. The Participants and their beneficiaries shall be unsecured creditors of the Company with respect to the Supplemental Retirement Benefits provided for in this Plan. 

ARTICLE IX 

ALLOCATION OF COSTS 

The cost of Supplemental Retirement Benefits paid to or on behalf of any Participant shall be allocated to and be the responsibility of
the Employers for which the Participant performed services, and shall be divided among the Employers in the same manner as contributions under the Retirement Plan are or would otherwise be divided with respect to such Participant. 

ARTICLE X 

ADMINISTRATION 

10.1 Committee to Administer and Interpret Plan. The Committee shall administer the Plan and shall have all discretion and power
necessary for that purpose. The Committee shall have the discretion, authority, and power to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide or resolve any
and all questions including interpretations of this Plan and determinations of eligibility to participate and to receive 

 

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distributions under this Plan, as may arise in connection with this Plan. Any individual serving on the Committee shall not vote or act on any matter relating solely to himself. When making a
determination or calculation, the Committee shall be entitled to rely on information supplied by a Participant, beneficiary, or the Employer, as the case may be. If a trust has been established, the Committee shall direct the trustee concerning all
payments from the trust fund in accordance with the provisions of the Plan and the trust agreement and shall have such other powers in the administration of the trust fund as may be conferred upon it by the trust agreement. The Committee shall
maintain all records of the Plan except records of the trust fund if a trust has been established. 
 10.2 Agents. In the
administration of this Plan, the Committee may, from time to time, employ agents (including officers and other employees of the Company) and delegate to them such administrative duties as it sees fit (including acting through a duly appointed
representative) and may from time to time consult with counsel who may be counsel to the Company. 
 10.3 Binding Effect of
Decisions. The decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be
final and conclusive and binding upon all persons having any interest in the Plan. 
 10.4 Indemnity of Committee. The
Company shall indemnify and hold harmless the members of the Committee and any employee to whom duties of the Committee may be delegated against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act
with respect to this Plan, except in the case of willful misconduct by the Committee, any of its members, or any such employee. 

10.5 Employer Information. To enable the Committee to perform its functions, the Employer shall supply full and timely information
to the Committee on all matters relating to the compensation of its Participants, the date and circumstances of the Disability, death or Separation from Service of a Participant, as applicable, and such other pertinent information as the Committee
may reasonably require. 
 10.6 Agent for Legal Process. The Committee shall be agent of the Plan for service of all
legal process. 
 ARTICLE XI 

CLAIMS PROCEDURE 

11.1 Filing a Claim. All claims shall be filed in writing by the Participant, his or her beneficiary, or the authorized
representative of either, by completing the procedures that the Committee requires. The procedures shall be reasonable and may include the completion of forms and the submission of documents and additional information. All claims under this Plan
shall be filed in writing with the Committee according to the Committee’s procedures no later than one year after the occurrence of the event that gives rise to the claim. If the claim is not filed within the time described in the preceding
sentence, the claim shall be barred. 
 11.2 Review of Initial Claim. 

(a) Initial Period for Review of the Claim. The Committee shall review all materials and shall decide whether to approve or deny
the claim. If a claim is denied in whole or in 
  

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part, written notice of denial shall be furnished by the Committee to the claimant within a reasonable time after the claim is filed but not later than ninety (90) days after the Committee
receives the claim. The notice shall set forth the specific reason(s) for the denial, reference to the specific plan provisions on which the denial is based, a description of any additional material or information necessary for the claimant to
perfect his claim and an explanation of why such material or information is necessary, and a description of the Plan’s review procedures, including the applicable time limits and a statement of the claimant’s right to bring a civil action
under Section 502(a) of ERISA following a denial of the appeal. 
 (b) Extension. If the Committee determines that
special circumstances require an extension of time for processing the claim, it shall give written notice to the claimant and the extension shall not exceed ninety (90) days. The notice shall be given before the expiration of the ninety
(90) day period described in Section 11.2(a) above and shall indicate the special circumstances requiring the extension and the date by which the Committee expects to render its decision. 

11.3 Appeal of Denial of Initial Claim. The claimant may request a review upon written application, may review pertinent
documents, and may submit issues or comments in writing. The claimant must request a review within a reasonable period of time prescribed by the Committee. In no event shall such a period of time be less than sixty (60) days. 

11.4 Review of Appeal. 

(a) Initial Period for Review of the Appeal. The Committee shall conduct all reviews of denied claims and shall render its
decision within a reasonable time, but not less than sixty (60) days of the receipt of the appeal by the Committee. The claimant shall be notified of the Committee’s decision in a notice, which shall set forth the specific reason(s) for
the denial, reference to the specific plan provisions on which the denial is based, a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other
information relevant to the claimant’s claim, and a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following a denial of the appeal. 

(b) Extension. If the Committee determines that special circumstances require an extension of time for reviewing the appeal, it
shall give written notice to the claimant and the extension shall not exceed sixty (60) days. The notice shall be given before the expiration of the sixty (60) day period described in Section 11.3 above and shall indicate the special
circumstances requiring the extension and the date by which the Committee expects to render its decision. 
 11.5 Form of
Notice to Claimant. The notice to the claimant shall be given in writing or electronically and shall be written in a manner calculated be understood by the claimant. If the notice is given electronically, it shall comply with the requirements of
Department of Labor Regulation Section 2520.104b-1(c)(1)(i), (iii), and (iv). 
 11.6 Discretionary Authority of
Committee. The Committee shall have full discretionary authority to determine eligibility, status, and the rights of all individuals under the Plan, to construe any and all terms of the Plan, and to find and construe all facts. 

 

 13 

 ARTICLE XII 

AMENDMENT OR TERMINATION 

The Board may at any time amend, modify, or terminate this Plan; provided, however, that no such amendment may alter in any way the time,
form, or amount of benefits payable to any retired Participant or his or her surviving spouse or beneficiary, nor shall any such amendment, modification, or termination adversely affect the rights of any Participant to receive Supplemental
Retirement Benefits earned prior to such action. 
 ARTICLE XIII 

SUCCESSOR TO THE COMPANY 

The Company shall require any successor or assign, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all of the business and/or assets of the Company, to assume and agree to pay any Supplemental Retirement Benefits under the Plan in the same manner and to the same extent that the Company would be required to perform if no such
succession or assignment had taken place. 
 ARTICLE XIV 

BENEFICIARIES 

Each Participant may designate one or more beneficiaries to receive any lump sum or installment payments distributable under this Plan on
or after the Participant’s death. In the absence of an effective beneficiary designation as to all or any part of any lump sum or installment payments, payment of such amounts shall be made to the Participant’s beneficiary under the QEP
Resources, Inc. Employee Investment Plan, if any, or, if none, to the designated beneficiary under the Company’s basic life insurance plan, if any, or, if none, to the personal representative of the Participant’s estate. 

ARTICLE XV 

CHANGE IN CONTROL 

15.1 Payments. 

(a) Change in Control. In the event that a Change in Control occurs and a Participant dies, incurs a Disability, or incurs a
Separation from Service within two years following the date of such Change in Control, the Participant (or his or her beneficiary) shall receive a lump-sum payment of all accrued Supplemental Retirement Benefits within 30 days following the
date of such death, Disability or Separation from Service, subject to the provisions of Section 7.7 hereof. 
 (b)
Calculation of Benefits. All Supplemental Retirement Benefits to which a Participant may be entitled under Section 15.1(a) shall be calculated in accordance with the applicable principles set forth in Articles V, VI and VII, except that
the date of distribution established under Section 15.1(a) shall be the Benefit Commencement Date for purposes of calculating such benefits. In the event that such Benefit Commencement Date precedes the Participant’s Earliest Retirement
Age under the Retirement Plan, the Supplemental Retirement 
  

 14 

 
Benefits payable shall be reduced by the applicable actuarial and supplemental factors set forth in the Retirement Plan for lump sum distributions, and, to the extent that the Retirement
Plan’s applicable actuarial or supplemental factors do not contemplate a distribution as of such Benefit Commencement Date, the Committee shall extrapolate such factors in good faith, in its sole discretion. 

15.2 Change in Control Definition. A Change in Control of the Company shall be deemed to have occurred if: (i) any
individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)) other than a trustee or other fiduciary holding securities under an employee benefit plan of
the Company, is or becomes the beneficial owner (as such term is used in Rule 13d-3 under the Exchange Act) of securities of the Company representing 25 percent or more of the combined voting power of the Company; or (ii) the following
individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, as of the Effective Date, constitute the Company’s Board of Directors and any new director (other than a director whose initial
assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination
for election by the Company’s stockholders was approved or recommended by a vote of at least two-thirds of the directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for
election was previously so approved or recommended; or (iii) the consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any corporation, other than a merger or consolidation that would
result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent
thereof) at least 60 percent of the combined voting power of the securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation, or a merger or consolidation effected to implement a
recapitalization of the Company (or similar transaction) in which no person is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 25 percent or more of the combined voting power of the Company’s
then outstanding securities; or (iv) the Company’s stockholders approve a plan of complete liquidation or dissolution of the Company or there is consummated for the sale or disposition by the Company of all or substantially all of the
Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least 60 percent of the combined voting power of the voting securities of which are owned by the
stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. In addition, if a Change in Control constitutes a payment event with respect to any payment under the Plan which
provides for the deferral of compensation and is subject to Section 409A of the Code, the transaction or event described in clauses (i), (ii), (iii) and (iv) with respect to such payment must also constitute a “change in control
event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A of the Code. 

15.3 Payment of Legal Fees for Disputes Following a Change in Control. The Company agrees to pay as incurred, to the full extent
permitted by law all legal fees and expenses which a Participant may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Participant, or others following a Change in Control regarding the validity or
enforceability of, or liability under, any provision of this Plan or any guarantee of performance 
  

 15 

 
thereof (including as a result of any contest by the Participant about the amount of any payment pursuant to this Plan), plus in each case interest on any delayed payment computed at the interest
rate set forth in Section 7.5(b)(ii). The foregoing right to legal fees and expenses shall not apply to any contest brought by a Participant (or other party seeking payment under the Plan) that is found by a court of competent jurisdiction to
be frivolous or vexatious. To the extent that any payments or reimbursements provided to the Participant under this Section are deemed to constitute compensation to the Participant, such amounts shall be paid or reimbursed reasonably promptly, but
not later than December 31 of the year following the year in which the expense was incurred. The amount of any payments or expense reimbursements that constitute compensation in one year shall not affect the amount of payments or expense
reimbursements constituting compensation that are eligible for payment or reimbursement in any subsequent year, and the Participant’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange
for any other benefit. 
 ARTICLE XVI 

MISCELLANEOUS 

16.1 No Assignment or Alienation. 

(a) General. Except as provided in subsection (b) below, the Supplemental Retirement Benefits provided for in this Plan shall
not be anticipated, assigned (either at law or in equity), alienated, or be subject to attachment, garnishment, levy, execution or other legal or equitable process. Any attempt by any Participant or any beneficiary to anticipate, assign or alienate
any portion of the Supplemental Retirement Benefits provided for in this Plan shall be null and void. 
 (b) Exception:
DRO. The restrictions of subsection (a) shall not apply to a distribution to an “alternate payee” (as defined in Code Section 414(p)) pursuant to a “domestic relations order” (“DRO”) within the meaning of
Code Section 414(p)(1)(B). The Committee shall have the discretion, power, and authority to determine whether an order is a DRO. Upon a determination that an order is a DRO, the Committee shall direct the Employer or the Trustee, as the case
may be, to distribute to the alternate payee or payees named in the DRO, as directed by the DRO. 
 16.2 Not An Employment
Contract. This Agreement is not a contract of employment, and any Participant may terminate his or her employment, or his or her employment may be terminated by the Company, at any time, subject to the terms and conditions of any employment
agreements between the Participant and the Employer. 
 16.3 Furnishing Information. A Participant or his or her
beneficiary shall cooperate with the Committee by furnishing any and all information requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the payment of benefits
hereunder. 
 16.4 Payments to Incompetents. If the Committee determines in its discretion that a benefit under this Plan
is to be paid to a minor, a person declared incompetent or to a person incapable of handling the disposition of his or her property, the Committee may direct payment of 

 

 16 

 
such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person. The Committee may require proof of minority, incompetence,
incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the Participant’s beneficiary, as the case may be, and shall be a
complete discharge of any liability under the Plan for such payment amount. 
 16.5 Court Order. The Committee is
authorized to make any payments directed by court order in any action in which the Plan or the Committee has been named as a party. 

16.6 Code Section 409A Savings Clause. The payments and benefits provided under the Plan are intended to be compliant with
the requirements of Section 409A of the Code. Notwithstanding any provision of this Plan to the contrary, including, without limitation, Article XII hereof, in the event that the Company reasonably determines that any payments or benefits
hereunder are not either exempt from or compliant with the requirements of Section 409A of the Code, the Company shall have the right adopt such amendments to this Plan or adopt such other policies and procedures (including amendments, policies
and procedures with retroactive effect), or take any other actions, that are necessary or appropriate (i) to preserve the intended tax treatment of the payments and benefits provided hereunder, to preserve the economic benefits with respect to
such payments and benefits, and/or (ii) to exempt such payments and benefits from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder;
provided, however, that this Section 16.6 does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any
Participant for any failure to do so. 
 16.7 Distribution in the Event of Taxation. If, for any reason, all or any
portion of a Participant’s benefits under this Plan becomes subject to tax under Code Section 409A prior to receipt, a Participant may petition the Committee for a distribution of that portion of his or her benefit that has become taxable,
or such lesser amount as may be permitted by Code Section 409A. Upon the grant of such a petition, which grant shall not be unreasonably withheld, the Employer, or if applicable, the trustee, shall distribute to the Participant immediately
available funds in an amount equal to the taxable portion of his or her benefit or such lesser amount as may be permitted by Code Section 409A (which amount shall not exceed a Participant’s unpaid Supplemental Retirement Benefit under the
Plan). If the petition is granted, the tax liability distribution shall be made within 90 days of the date when the Participant’s petition is granted. Such a distribution shall affect and reduce the benefits to be paid under this Plan. Any
distribution under this Section 16.7 must meet the requirements of Code Section 409A and related Treasury guidance or Regulations. 

16.8 Governing Law. To the extent not preempted by federal law, this Plan shall be governed by the laws of the State of Colorado,
without regard to conflicts of law principles. 
 [Signature Page Follows] 

 

 17 

 I hereby certify that this QEP Resources, Inc. Supplemental Executive Retirement Plan was
duly adopted by the Board of Directors of QEP Resources, Inc. on June 12, 2010. 
 Executed on this 12 day of June, 2010.

  

					
	 By:
	 	 /s/ Richard J. Doleshek
	  	
		 	    Richard J. Doleshek	  	
		 	     Executive Vice President, Chief Financial Officer and Treasurer2010 Employee Stock Purchase Plan

 Exhibit 10.5 

TRIUS THERAPEUTICS, INC. 

2010 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
FEBRUARY 9, 2010 
 APPROVED BY THE
STOCKHOLDERS: FEBRUARY 9, 2010 
 1. GENERAL. 

(a) The purpose of the Plan is to provide a means by which Eligible Employees of the Company and certain designated Related
Corporations may be given an opportunity to purchase shares of Common Stock. The Plan is intended to permit the Company to grant a series of Purchase Rights to Eligible Employees under an Employee Stock Purchase Plan. 

(b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the services of new
Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 

2. ADMINISTRATION. 

(a) The Board shall administer the Plan unless and until the Board delegates administration of the Plan to a Committee or
Committees, as provided in Section 2(c). 
 (b) The Board shall have the power, subject to, and within the
limitations of, the express provisions of the Plan: 
 (i) To determine how and when Purchase Rights to purchase shares
of Common Stock shall be granted and the provisions of each Offering of such Purchase Rights (which need not be identical). 

(ii) To designate from time to time which Related Corporations of the Company shall be eligible to participate in the Plan.

 (iii) To construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations
for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 

(iv) To settle all controversies regarding the Plan and Purchase Rights granted under it. 

(v) To suspend or terminate the Plan at any time as provided in Section 12. 

(vi) To amend the Plan at any time as provided in Section 12. 

(vii) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests
of the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan. 
  

 1. 

 (viii) To adopt such procedures and sub-plans as are necessary or appropriate to
permit participation in the Plan by Employees who are foreign nationals or employed outside the United States. 
 (c) The
Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore
possessed by the Board that have been delegated to the Committee, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter
be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan
with the Committee and may, at any time, revest in the Board some or all of the powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board shall have the final power to determine all
questions of policy and expediency that may arise in the administration of the Plan. 
 (d) All determinations,
interpretations and constructions made by the Board in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. 

3. SHARES OF COMMON STOCK SUBJECT TO THE
PLAN. 
 (a) Subject to the provisions of Section 11(a) relating to
Capitalization Adjustments, the shares of Common Stock that may be sold pursuant to Purchase Rights shall not exceed in the aggregate 500,000 shares of Common Stock. In addition, the number of shares of Common Stock available for issuance under the
Plan shall automatically increase on January 1st of each year, commencing in 2011 and ending on (and including) January 1, 2020, in an amount equal to the lesser of
(i) 1% of the total number of shares of Common Stock outstanding on December 31st of the preceding calendar year, or (ii) 250,000 shares of Common Stock. Notwithstanding the foregoing, the Board may act prior to the first day of any
calendar year, to provide that there shall be no increase in the share reserve for such calendar year or that the increase in the share reserve for such calendar year shall be a lesser number of shares of Common Stock than would otherwise occur
pursuant to the preceding sentence. 
 (b) If any Purchase Right granted under the Plan shall for any reason terminate
without having been exercised, the shares of Common Stock not purchased under such Purchase Right shall again become available for issuance under the Plan. 

(c) The stock purchasable under the Plan shall be shares of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Company on the open market. 
 4. GRANT OF PURCHASE RIGHTS;
OFFERING. 
 (a) The Board may from time to time grant or provide for the grant of Purchase Rights to
purchase shares of Common Stock under the Plan to Eligible Employees in an Offering 
  

 2. 

 
(consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering shall be in such form and shall contain such terms and conditions as the
Board shall deem appropriate, which shall comply with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights shall have the same rights and privileges. The terms and conditions of an Offering shall be
incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate Offerings need not be identical, but each Offering shall include (through incorporation of the provisions of this Plan by reference in the document
comprising the Offering or otherwise) the period during which the Offering shall be effective, which period shall not exceed twenty-seven (27) months beginning with the Offering Date, and the substance of the provisions contained in Sections 5
through 8, inclusive. 
 (b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or
she otherwise indicates in agreements or notices delivered hereunder: (i) each agreement or notice delivered by that Participant shall be deemed to apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a
lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have identical exercise prices) shall be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted
Purchase Right if different Purchase Rights have identical exercise prices) shall be exercised. 
 (c) The Board shall
have the discretion to structure an Offering so that if the Fair Market Value of the shares of Common Stock on the first day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of the shares of Common Stock
on the Offering Date, then (i) that Offering shall terminate immediately, and (ii) the Participants in such terminated Offering shall be automatically enrolled in a new Offering beginning on the first day of such new Purchase Period.

 5. ELIGIBILITY. 

(a) Purchase Rights may be granted only to Employees of the Company or, as the Board may designate as provided in
Section 2(b), to Employees of a Related Corporation. Except as provided in Section 5(b), an Employee shall not be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee has been in the employ of
the Company or the Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event shall the required period of continuous employment be greater than two (2) years. In
addition, the Board may provide that no Employee shall be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s customary employment with the Company or the Related Corporation is more than twenty
(20) hours per week and more than five (5) months per calendar year or such other criteria as the Board may determine consistent with Section 423 of the Code. 

(b) The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee shall, on a
date or dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering, which Purchase Right shall thereafter be deemed to be a
part of that Offering. Such Purchase Right shall have the same characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 

(i) the date on which such Purchase Right is granted shall be the “Offering Date” of such Purchase Right for all
purposes, including determination of the exercise price of such Purchase Right; 
  

 3. 

 (ii) the period of the Offering with respect to such Purchase Right shall begin on
its Offering Date and end coincident with the end of such Offering; and 
 (iii) the Board may provide that if such
person first becomes an Eligible Employee within a specified period of time before the end of the Offering, he or she shall not receive any Purchase Right under that Offering. 

(c) No Employee shall be eligible for the grant of any Purchase Rights under the Plan if, immediately after any such Purchase
Rights are granted, such Employee owns stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this Section 5(c), the
rules of Section 424(d) of the Code shall apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options shall be treated as stock owned by such Employee.

 (d) As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights under the
Plan only if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any
Related Corporation to accrue at a rate which exceeds twenty five thousand dollars ($25,000) of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, shall be determined as of their
respective Offering Dates) for each calendar year in which such rights are outstanding at any time. 
 (e) Officers of
the Company and any designated Related Corporation, if they are otherwise Eligible Employees, shall be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are
highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code shall not be eligible to participate. 
 6.
PURCHASE RIGHTS; PURCHASE PRICE. 
 (a) On each Offering
Date, each Eligible Employee, pursuant to an Offering made under the Plan, shall be granted a Purchase Right to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated
by the Board, but in either case not exceeding fifteen percent (15%) of such Employee’s earnings (as defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for
a particular Offering) and ends on the date stated in the Offering, which date shall be no later than the end of the Offering. 

(b) The Board shall establish one (1) or more Purchase Dates during an Offering as of which Purchase Rights granted pursuant
to that Offering shall be exercised and purchases of shares of Common Stock shall be carried out in accordance with such Offering. 
  

 4. 

 (c) In connection with each Offering made under the Plan, the Board may specify a
maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date during such Offering. In connection with each Offering made under the Plan, the Board may specify a maximum aggregate number of shares of Common
Stock that may be purchased by all Participants pursuant to such Offering. In addition, in connection with each Offering that contains more than one Purchase Date, the Board may specify a maximum aggregate number of shares of Common Stock that may
be purchased by all Participants on any Purchase Date under the Offering. If the aggregate purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then,
in the absence of any Board action otherwise, a pro rata allocation of the shares of Common Stock available shall be made in as nearly a uniform manner as shall be practicable and equitable. 

(d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights shall be not less than the lesser of:

 (i) an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of Common Stock on the
Offering Date; or 
 (ii) an amount equal to eighty-five percent (85%) of the Fair Market Value of the shares of
Common Stock on the applicable Purchase Date. 
 7. PARTICIPATION; WITHDRAWAL; TERMINATION. 

 (a) A Participant may elect to authorize payroll deductions pursuant to an Offering under the Plan by completing and
delivering to the Company, within the time specified in the Offering, an enrollment form (in such form as the Company may provide). Each such enrollment form shall authorize an amount of Contributions expressed as a percentage of the submitting
Participant’s earnings (as defined in each Offering) during the Offering (not to exceed the maximum percentage specified by the Board). Each Participant’s Contributions shall be credited to a bookkeeping account for such Participant under
the Plan and shall be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a third party. To the extent provided in the Offering, a Participant may begin such Contributions after
the beginning of the Offering. To the extent provided in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. To the extent specifically provided in the Offering, in addition to making
Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to each Purchase Date of the Offering. 

(b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a
notice of withdrawal in such form as the Company may provide. Such withdrawal may be elected at any time prior to the end of the Offering, except as provided otherwise in the Offering. Upon such withdrawal from the Offering by a Participant, the
Company shall distribute to such Participant all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock for the Participant) under the Offering, and such
Participant’s Purchase Right in that Offering shall thereupon terminate. A Participant’s withdrawal from an Offering shall 

 

 5. 

 
have no effect upon such Participant’s eligibility to participate in any other Offerings under the Plan, but such Participant shall be required to deliver a new enrollment form in order to
participate in subsequent Offerings. 
 (c) Purchase Rights granted pursuant to any Offering under the Plan shall
terminate immediately upon a Participant ceasing to be an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or other lack of eligibility. The Company shall distribute to such terminated or
otherwise ineligible Employee all of his or her accumulated Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock for the terminated or otherwise ineligible Employee) under the Offering.

 (d) Purchase Rights shall not be transferable by a Participant except by will, the laws of descent and distribution,
or by a beneficiary designation as provided in Section 10. During a Participant’s lifetime, Purchase Rights shall be exercisable only by such Participant. 

(e) Unless otherwise specified in an Offering, the Company shall have no obligation to pay interest on Contributions. 

8. EXERCISE OF PURCHASE RIGHTS. 

(a) On each Purchase Date during an Offering, each Participant’s accumulated Contributions shall be applied to the purchase of
shares of Common Stock up to the maximum number of shares of Common Stock permitted pursuant to the terms of the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares shall be issued upon the
exercise of Purchase Rights unless specifically provided for in the Offering. 
 (b) If any amount of accumulated
Contributions remains in a Participant’s account after the purchase of shares of Common Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such
remaining amount shall be held in such Participant’s account for the purchase of shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from such next Offering, as provided in Section 7(b), or is
not eligible to participate in such Offering, as provided in Section 5, in which case such amount shall be distributed to such Participant after the final Purchase Date, without interest. If the amount of Contributions remaining in a
Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one (1) whole share of Common Stock on the final Purchase Date of the Offering, then such remaining amount shall be
distributed in full to such Participant at the end of the Offering without interest. 
 (c) No Purchase Rights may be
exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable
federal, state, foreign and other securities and other laws applicable to the Plan. If on a Purchase Date during any Offering hereunder the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights or any
Offering shall be exercised on such Purchase Date, and the Purchase Date shall be delayed until the shares of 
  

 6. 

 
Common Stock are subject to such an effective registration statement and the Plan is in such compliance, except that the Purchase Date shall not be delayed more than twelve (12) months and
the Purchase Date shall in no event be more than twenty-seven (27) months from the Offering Date. If, on the Purchase Date under any Offering hereunder, as delayed to the maximum extent permissible, the shares of Common Stock are not registered
and the Plan is not in such compliance, no Purchase Rights or any Offering shall be exercised and all Contributions accumulated during the Offering (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock)
shall be distributed to the Participants without interest. 
 9. COVENANTS OF THE
COMPANY. 
 The Company shall seek to obtain from each federal, state, foreign or other regulatory commission
or agency having jurisdiction over the Plan such authority as may be required to issue and sell shares of Common Stock upon exercise of the Purchase Rights. If, after commercially reasonable efforts, the Company is unable to obtain from any such
regulatory commission or agency the authority that counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock
upon exercise of such Purchase Rights unless and until such authority is obtained. 
 10. DESIGNATION OF
BENEFICIARY. 
 (a) A Participant may file a written designation of a beneficiary who is to receive any
shares of Common Stock and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to the end of an Offering but prior to delivery to the Participant of such shares of Common Stock
or cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death during an Offering. Any such designation
shall be on a form provided by or otherwise acceptable to the Company. 
 (b) The Participant may change such designation
of beneficiary at any time by written notice to the Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company
shall deliver such shares of Common Stock and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole
discretion, may deliver such shares of Common Stock and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company
may designate. 
 11. ADJUSTMENTS UPON CHANGES IN COMMON
STOCK; CORPORATE TRANSACTIONS. 
 (a) In the event of a Capitalization
Adjustment, the Board shall appropriately and proportionately adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities by which the
share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the class(es) and number of securities subject to, and the purchase price applicable to outstanding Offerings and

  

 7. 

 
Purchase Rights, and (iv) the class(es) and number of securities imposed by purchase limits under each ongoing Offering. The Board shall make such adjustments, and its determination shall be
final, binding and conclusive. 
 (b) In the event of a Corporate Transaction, then: (i) any surviving corporation
or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or continue Purchase Rights outstanding under the Plan or may substitute similar rights (including a right to acquire the same consideration paid
to the stockholders in the Corporate Transaction) for those outstanding under the Plan, or (ii) if any surviving or acquiring corporation (or its parent company) does not assume or continue such Purchase Rights or does not substitute similar
rights for Purchase Rights outstanding under the Plan, then the Participants’ accumulated Contributions shall be used to purchase shares of Common Stock within ten (10) business days prior to the Corporate Transaction under any ongoing
Offerings, and the Participants’ Purchase Rights under the ongoing Offerings shall terminate immediately after such purchase. 
 12.
AMENDMENT, TERMINATION OR SUSPENSION OF THE PLAN. 

(a) The Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in
Section 11(a) relating to Capitalization Adjustments, stockholder approval shall be required for any amendment of the Plan for which stockholder approval is required by applicable law or listing requirements, including any amendment that either
(i) materially increases the number of shares of Common Stock available for issuance under the Plan, (ii) materially expands the class of individuals eligible to become Participants and receive Purchase Rights under the Plan,
(iii) materially increases the benefits accruing to Participants under the Plan or materially reduces the price at which shares of Common Stock may be purchased under the Plan, (iv) materially extends the term of the Plan, or
(v) expands the types of awards available for issuance under the Plan, but in each of (i) through (v) above only to the extent stockholder approval is required by applicable law or listing requirements. 

(b) The Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is
suspended or after it is terminated. 
 (c) Any benefits, privileges, entitlements and obligations under any outstanding
Purchase Rights granted before an amendment, suspension or termination of the Plan shall not be impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were granted,
(ii) as necessary to comply with any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance issued thereunder
relating to Employee Stock Purchase Plans) including without limitation any such regulations or other guidance that may be issued or amended after the Effective Date, or (iii) as necessary to obtain or maintain favorable tax, listing, or
regulatory treatment. 
  

 8. 

 13. EFFECTIVE DATE OF PLAN. 

The Plan shall become effective on the IPO Date, but no Purchase Rights shall be exercised unless and until the Plan has been approved by
the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 

14. MISCELLANEOUS PROVISIONS. 

(a) Proceeds from the sale of shares of Common Stock pursuant to Purchase Rights shall constitute general funds of the Company.

 (b) A Participant shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to,
shares of Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the books of the Company (or its transfer agent). 

(c) The Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering shall in any way alter
the at will nature of a Participant’s employment or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the Company or a Related Corporation, or on the part of the Company or a
Related Corporation to continue the employment of a Participant. 
 (d) The provisions of the Plan shall be governed by
the laws of the state of California without resort to that state’s conflicts of laws rules. 
 15. DEFINITIONS.

 As used in the Plan, the following definitions shall apply to the capitalized terms indicated below: 

(a) “Board” means the Board of Directors of the Company. 

(b) “Capitalization Adjustment” means any change that is made in, or other events that occur with respect
to, the Common Stock subject to the Plan or subject to any Purchase Right after the Effective Date without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend,
dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other similar transaction). Notwithstanding the foregoing, the conversion of any convertible
securities of the Company shall not be treated as a Capitalization Adjustment. 
 (c) “Code”
means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder. 

(d) “Committee” means a committee of one (1) or more members of the Board to whom authority has been
delegated by the Board in accordance with Section 2(c). 
  

 9. 

 (e) “Common Stock” means the common stock of the Company.

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

(g) “Contributions” means the payroll deductions and other additional payments specifically provided for
in the Offering, that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account, if specifically provided for in the Offering, and then only if the Participant has not
already had the maximum permitted amount withheld during the Offering through payroll deductions. 
 (h)
“Corporate Transaction” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events: 

(i) the consummation of a sale or other disposition of all or substantially all, as determined by the Board in its sole
discretion, of the consolidated assets of the Company and its Subsidiaries; 
 (ii) the consummation of a sale or other
disposition of at least ninety percent (90%) of the outstanding securities of the Company; 
 (iii) the consummation
of a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or 
 (iv)
the consummation of a merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are
converted or exchanged by virtue of the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise. 

(i) “Director” means a member of the Board. 

(j) “Eligible Employee” means an Employee who meets the requirements set forth in the Offering for
eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

(k) “Employee” means any person, including Officers and Directors, who is employed for purposes of
Section 423(b)(4) of the Code by the Company or a Related Corporation. However, service solely as a Director, or payment of a fee for such services, shall not cause a Director to be considered an “Employee” for purposes of the Plan.

 (l) “Employee Stock Purchase Plan” means a plan that grants Purchase Rights intended to be
options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 

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

 10. 

 (n) “Fair Market Value” means, as of any date, the value of
the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded
on any established market, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on
the-date of determination, as reported in a source the Board deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value shall be the
closing selling price on the last preceding date for which such quotation exists. 
 (ii) In the absence of such markets
for the Common Stock, the Fair Market Value shall be determined by the Board in good faith and in a manner that complies with Sections 409A of the Code. 

(iii) Notwithstanding the foregoing, for any Offering that commences on the IPO Date, the Fair Market Value of the shares of
Common Stock at the time when the Offering commences shall be the price per share at which shares are first sold to the public in the Company’s initial public offering as specified in the final prospectus for that initial public offering.

 (o) “IPO Date” means the date of the underwriting agreement between the Company and the
underwriter(s) managing the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering. 

(p) “Offering” means the grant of Purchase Rights to purchase shares of Common Stock under the Plan to
Eligible Employees. 
 (q) “Offering Date” means a date selected by the Board for an Offering to
commence. 
 (r) “Officer” means a person who is an officer of the Company within
the meaning of Section 16 of the Exchange Act. 
 (s) “Participant” means an
Eligible Employee who holds an outstanding Purchase Right granted pursuant to the Plan. 
 (t) “Plan”
means this Trius Therapeutics, Inc. 2010 Employee Stock Purchase Plan. 
 (u) “Purchase Date”
means one or more dates during an Offering established by the Board on which Purchase Rights shall be exercised and as of which purchases of shares of Common Stock shall be carried out in accordance with such Offering. 

(v) “Purchase Period” means a period of time specified within an Offering beginning on the Offering Date
or on the next day following a Purchase Date within an Offering and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 

(w) “Purchase Right” means an option to purchase shares of Common Stock granted pursuant to the Plan.

  

 11. 

 (x) “Related Corporation” means any “parent
corporation” or “subsidiary corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

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

(z) “Trading Day” means any day on which the exchange(s) or market(s) on which
shares of Common Stock are listed, including the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, is open for trading. 
  

 12. 

 TRIUS THERAPEUTICS, INC. 

2010 EMPLOYEE STOCK PURCHASE PLAN 

OFFERING DOCUMENT

ADOPTED BY THE BOARD OF DIRECTORS:
FEBRUARY 9, 2010
 AMENDED AND RESTATED BY
THE BOARD OF DIRECTORS: JUNE 11, 2010 
 In this
document, capitalized terms not otherwise defined shall have the same definitions of such terms as in the Trius Therapeutics, Inc. 2010 Employee Stock Purchase Plan. 

1. GRANT; OFFERING DATE. 

(a) The Board hereby authorizes a series of Offerings pursuant to the terms of this Offering document. 

(b) The first Offering hereunder (the “Initial Offering”) shall begin on the IPO Date and shall end
approximately 24 months following the commencement of the Initial Offering, unless terminated earlier as provided below. The Initial Offering shall consist of four (4) Purchase Periods, approximately six (6) months in length ending on or about May
20 and November 20 each year with the first Purchase Period ending on November 20, 2010, the second Purchase Period ending on May 20, 2010, the third Purchase Period ending on November 20, 2011, and the fourth Purchase Period ending on May 20, 2011.

 (c) After the Initial Offering ends, a new Offering shall automatically begin over the term of the Plan on the day
after the last Purchase Date of the immediately preceding Offering, and each new Offering shall be approximately twenty-four (24) months in duration. Each Offering shall consist of four (4) Purchase Periods approximately six (6) months in length
ending on or about May 20 and November 20 each year. Except as provided below, a Purchase Date is the last day of a Purchase Period or of an Offering, as the case may be. 

(d) Notwithstanding the foregoing: (i) if any Offering Date falls on a day that is not a Trading Day, then such Offering Date
shall instead fall on the next subsequent Trading Day, and (ii) if any Purchase Date falls on a day that is not a Trading Day, then such Purchase Date shall instead fall on the immediately preceding Trading Day. 

(e) Prior to the commencement of any Offering, the Board may change any or all terms of such Offering and any subsequent
Offerings. The granting of Purchase Rights pursuant to each Offering hereunder shall occur on each respective Offering Date unless prior to such date (i) the Board determines that such Offering shall not occur, or (ii) no shares of Common
Stock remain available for issuance under the Plan in connection with the Offering. 
 (f) Notwithstanding anything in
this Section 1 to the contrary, if the Fair Market Value of a share of Common Stock on any Purchase Date during an Offering is less than or equal to the Fair Market Value of a share of Common Stock on the Offering Date for that Offering, then that
Offering shall terminate immediately following the purchase of shares of Common 
  

 1. 

 
Stock on such Purchase Date. Participants in the terminated Offering automatically shall be enrolled in the Offering that commences immediately after such Purchase Date. Thereafter,
notwithstanding the provisions of Section 1(c) above, instead of a new Offering commencing pursuant to Section 1(c), a new Offering shall begin on the 24-month anniversary of the new Offering that commences pursuant to this Section 1(f) and every 24
months thereafter, and each such Offering shall end on the day prior to the 24-month anniversary of its Offering Date. It is intended that Sections 1(c) and 1(f) shall operate so that only one Offering shall be outstanding at any time under the
Plan, and that at all times one Offering shall be outstanding under the Plan. 
 2. ELIGIBLE EMPLOYEES. 

 (a) Each Eligible Employee, who is either (i) an employee of the Company or (ii) an employee of a Related Corporation
incorporated in the United States, provided that the Board or Committee has designated the employees of such Related Corporation as eligible to participate in the Offering, shall be granted a Purchase Right on the Offering Date of such Offering.

 (b) Each person who, during the course of an Offering, first becomes an Eligible Employee prior to the commencement of
the last Purchase Period under the Offering shall, on the first Trading Day of the first Purchase Period that commences after such person becomes an Eligible Employee, receive a Purchase Right under that Offering, which Purchase Right shall
thereafter be deemed to be a part of that Offering; provided, however, that such Eligible Employee submits the necessary enrollment paperwork required by the Company on or before such date. Such Purchase Right shall have the same
characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 
 (i)
the date on which such Purchase Right is granted shall be the “Offering Date” of such Purchase Right for all purposes, including determination of the exercise price of such Purchase Right except for the application of the provision of
Section 1(f) above (the application of which shall be determined only by using the Offering Date of the ongoing Offering that is the first day of the Offering), including determination of the exercise price of such Purchase Right; and 

(ii) the period of the Offering with respect to such Purchase Right shall begin on its Offering Date and end coincident with the
end of such Offering. 
 (c) Notwithstanding the foregoing, the following Employees shall not be Eligible Employees or be
granted Purchase Rights under an Offering: 
 (i) five percent (5%) stockholders (including ownership through unexercised
and/or unvested stock options) as described in Section 5(c) of the Plan; or 
 (ii) Employees in jurisdictions outside of the
United States. 
 3. PURCHASE RIGHTS. 

(a) Subject to the limitations herein and in the Plan, a Participant’s Purchase Right shall permit the purchase of the number
of shares of Common Stock purchasable with up to fifteen percent (15%) of such Participant’s Earnings paid during the period of such Offering 

 

 2. 

 
beginning immediately after such Participant first commences participation; provided, however, that no Participant may have more than fifteen percent (15%) of such Participant’s
Earnings applied to purchase shares of Common Stock under all ongoing Offerings under the Plan and all other plans of the Company and Related Corporations that are intended to qualify as Employee Stock Purchase Plans. 

(b) For Offerings hereunder, “Earnings” means the base compensation paid to a Participant, including all
salary, wages (including amounts elected to be deferred by such Participant, that would otherwise have been paid, under any cash or deferred arrangement or other deferred compensation program established by the Company or a Related Corporation), but
excluding all of the following: all overtime pay, commissions, bonuses, and other remuneration paid directly to such Participant, profit sharing, the cost of employee benefits paid for by the Company or a Related Corporation, education or tuition
reimbursements, imputed income arising under any Company or Related Corporation group insurance or benefit program, traveling expenses, business and moving expense reimbursements, income received in connection with stock options and other equity
awards, contributions made by the Company or a Related Corporation under any employee benefit plan, and other similar items of compensation. 

(c) Notwithstanding the foregoing, the maximum number of shares of Common Stock that a Participant may purchase on any Purchase
Date in an Offering shall be such number of shares as has a Fair Market Value (determined as of the Offering Date for such Offering) equal to (x) $25,000 multiplied by the number of calendar years in which the Purchase Right under such Offering has
been outstanding at any time, minus (y) the Fair Market Value of any other shares of Common Stock (determined as of the relevant Offering Date with respect to such shares) that, for purposes of the limitation of Section 423(b)(8) of the Code, are
attributed to any of such calendar years in which the Purchase Right is outstanding. The amount in clause (y) of the previous sentence shall be determined in accordance with regulations applicable under Section 423(b)(8) of the Code based on (i) the
number of shares previously purchased with respect to such calendar years pursuant to such Offering or any other Offering under the Plan, or pursuant to any other Company or Related Corporation plans intended to qualify as Employee Stock Purchase
Plans, and (ii) the number of shares subject to other Purchase Rights outstanding on the Offering Date for such Offering pursuant to the Plan or any other such Company or Related Corporation Employee Stock Purchase Plan. 

(d) The maximum aggregate number of shares of Common Stock available to be purchased by all Participants under an Offering shall
be the number of shares of Common Stock remaining available under the Plan on the Offering Date, rounded down to the nearest whole share. If the aggregate purchase of shares of Common Stock upon exercise of Purchase Rights granted under the Offering
would exceed the maximum aggregate number of shares available, the Board shall make a pro rata allocation of the shares available in a uniform and equitable manner. Any Contributions not applied to the purchase of available shares of Common Stock
shall be refunded to the Participants without interest. 
 (e) Notwithstanding the foregoing, the maximum number of
shares of Common Stock that may be purchased on any single Purchase Date by all Eligible Employees during any Offering shall not exceed 90,000 shares. 
  

 3. 

 (f) If the aggregate number of shares of Common Stock to be purchased upon the
exercise of all outstanding Purchase Rights on a single Purchase Date would exceed any of the foregoing limits, the Board shall make a uniform and equitable allocation of the shares available. Any Contributions not applied to the purchase of
available shares of Common Stock shall be refunded to the Participants without interest. 
 4. PURCHASE PRICE.

 The purchase price of shares of Common Stock under an Offering shall be the lesser of: (i) eighty-five percent (85%) of
the Fair Market Value of such shares of Common Stock on the Offering Date, or (ii) eighty-five percent (85%) of the Fair Market Value of such shares of Common Stock on the applicable Purchase Date, in each case rounded up to the nearest whole cent
per share. For the Initial Offering, the Fair Market Value of the shares of Common Stock at the time when the Offering commences shall be the price per share at which shares are first sold to the public in the Company’s initial public offering
as specified in the final prospectus for that initial public offering. 
 5. PARTICIPATION. 

(a) An Eligible Employee may elect to participate in an Offering to be effective on the Offering Date. An Eligible Employee shall
elect his or her payroll deduction percentage on such enrollment form as the Company provides. The completed enrollment form must be delivered to the Company at least ten (10) days prior to the date participation is to be effective, unless a later
time for filing the enrollment form is set by the Company for all Eligible Employees with respect to a given Offering. Payroll deduction percentages must be expressed in whole percentages of Earnings, with a minimum percentage of one percent (1%)
and a maximum percentage of fifteen percent (15%). Except as provided in Section 5(g), a Participant may participate only by way of payroll deductions. 

(b) A Participant may increase or decrease his or her participation level at any time with such change to be effective commencing
as of the next Offering. Any such increase or decrease in participation level shall be made by delivering a notice to the Company or a designated Related Corporation in such form as the Company provides prior to the ten (10) day period (or such
shorter period of time as determined by the Company and communicated to Participants) immediately preceding the next Offering Date for which it is to be effective. A Participant may also increase or decrease his or her participation level to be
effective in a subsequent Purchase Period of an ongoing Offering in accordance with procedures established by the Company. 

(c) A Participant may increase his or her participation level once during a Purchase Period. In addition, a Participant may
decrease (including a decrease to zero percent (0%)) his or her participation level no more than once during a Purchase Period. Any such change in participation level shall be made by delivering a notice to the Company or a designated Related
Corporation in such form as the Company provides prior to the ten (10) day period (or such shorter period of time as determined by the Company and communicated to Participants) immediately preceding the payroll date for which it is to be effective
and such change will become effective as soon as administratively practicable following the Company’s receipt of the 
  

 4. 

 
notice. Any Participant who has not increased his or her payroll deduction level from zero percent (0%) to at least one percent (1%) by the time proscribed before the start of a new Offering
shall be deemed to have withdrawn from the Plan effective as of, respectively, the first day of that new Offering. 
 (d)
A Participant may withdraw from an Offering and receive a refund of his or her Contributions (reduced to the extent, if any, such Contributions have been used to acquire shares of Common Stock for the Participant on any prior Purchase Date) without
interest, at any time prior to the end of the Offering, excluding only each ten (10) day period immediately preceding a Purchase Date (or such shorter period of time determined by the Company and communicated to Participants), by delivering a
withdrawal notice to the Company or a designated Related Corporation in such form as the Company provides. A Participant who has withdrawn from an Offering shall not again participate in such Offering, but may participate in subsequent Offerings
under the Plan in accordance with the terms of the Plan and the terms of such subsequent Offerings. 
 (e)
Notwithstanding the foregoing or any other provision of this Offering document or of the Plan to the contrary, neither the enrollment of any Eligible Employee in the Plan nor any forms relating to participation in the Plan shall be given effect
until such time as a registration statement covering the shares reserved under the Plan that are subject to the Offering has been filed by the Company and has become effective. If the provisions of this Section are applicable, the Company shall
establish such procedures as will enable the purposes of the Plan to be satisfied while complying with applicable securities laws. Such procedures may include, for example, allowing Participants to participate other than by means of payroll
deduction and/or allowing Participants to increase their level of participation during a Purchase Period. 
 (f)
Notwithstanding the foregoing or any other provision of this Offering document or of the Plan to the contrary, the Company may determine in its sole discretion at any time, including at any time following the commencement of an Offering or Purchase
Period, that it will no longer accept Participant requests to increase participation levels during such Offering or Purchase Period, as applicable. 

(g) Notwithstanding the foregoing or any other provision of this Offering document or of the Plan to the contrary, with respect to
the Initial Offering only, each Eligible Employee who is employed on the Offering Date for the Initial Offering automatically shall be enrolled in the Initial Offering, with a Purchase Right to purchase up to the number of shares of Common Stock
that are purchasable with fifteen percent (15%) of the Eligible Employee’s Earnings, subject to the limitations set forth in Section 3(c) - 3(f) above. Following the filing of an effective registration statement pursuant to a Form S-8, such
Eligible Employee shall be provided a certain period of time, as determined by the Company in its sole discretion, within which to elect to authorize payroll deductions for the purchase of shares during the Initial Offering (which may be for a
percentage that is less than fifteen percent (15%) of the Eligible Employee’s Earnings, and will have a limited opportunity to make all or part of the contributions in a single lump sum cash payment for the purchase of such shares to the
Company or a designated Related Corporation prior to the ten (10) day period (or such shorter period of time as determined by the Company and communicated to Participants) immediately preceding the first Purchase Date under the Initial Offering. To
the extent that the Eligible Employee’s payroll 
  

 5. 

 
deductions for such initial Purchase Period are less than fifteen percent (15%) of the Eligible Employee’s Earnings paid to the Eligible Employee during the initial Purchase Period of the
Offering, the Eligible Employee may make an additional cash payment at any time or prior to the ten (10) day period (or such shorter period of time as determined by the Company and communicated to Participants) immediately preceding the Purchase
Date under the Initial Offering. If an Eligible Employee neither elects to authorize payroll deductions nor chooses to make a cash payment in accordance with the foregoing sentence, then the Eligible Employee shall not purchase any shares of Common
Stock during the Initial Offering. In order to participate in any Offerings that follow the Initial Offering, an Eligible Employee must affirmatively enroll and authorize payroll deductions prior to the commencement of the Offering, in accordance
with paragraph (a) above. 
 (h) Once an Eligible Employee affirmatively enrolls in an Offering and authorizes payroll
deductions (including in connection with the Initial Offering), the Eligible Employee automatically shall be enrolled for all subsequent Offerings until he or she elects to withdraw from an Offering pursuant to paragraph (d) above or terminates his
or her participation in the Plan. 
 6. PURCHASES. 

Subject to the limitations contained herein, on each Purchase Date, each Participant’s Contributions (without any increase for
interest) shall be applied to the purchase of whole shares of Common Stock, up to the maximum number of shares permitted under the Plan and the Offering. 

7. NOTICES AND AGREEMENTS. 

Any notices or agreements provided for in an Offering or the Plan shall be given in writing, in a form provided by the Company (including
documents delivered in electronic form, if authorized by the Committee), and unless specifically provided for in the Plan or this Offering, shall be deemed effectively given upon receipt or, in the case of notices and agreements delivered by the
Company, five (5) days after deposit in the United States mail, postage prepaid. 
 8. EXERCISE CONTINGENT
ON STOCKHOLDER APPROVAL. 
 The Purchase Rights granted under an Offering are
subject to the approval of the Plan by the stockholders of the Company as required for the Plan to obtain treatment as an Employee Stock Purchase Plan. 

9. CAPITALIZATION ADJUSTMENTS. 

The limitation set forth in Section 3(e) shall be adjusted, as appropriate, to reflect Capitalization Adjustments. 

10. OFFERING SUBJECT TO PLAN. 

Each Offering is subject to all the provisions of the Plan, and the provisions of the Plan are hereby made a part of the Offering. The
Offering is further subject to all interpretations, 
  

 6. 

 
amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of an Offering and those of the
Plan (including interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan), the provisions of the Plan shall control. 

 

 7.

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