Document:

EX-4.22A

 Exhibit 4.22A 

KING DIGITAL ENTERTAINMENT PUBLIC LIMITED COMPANY 2014
EQUITY INCENTIVE PLAN 
 NOTICE OF RESTRICTED
STOCK UNIT AWARD 
 (GLOBAL) 

You (being the Participant named below) (“you”) have been granted a Restricted Stock Unit Award (the “Award”) by King
Digital Entertainment Public Limited Company (the “Company”) under its 2014 Equity Incentive Plan (the “Plan”) in respect of the number of Restricted Stock Units (“RSUs”) set out below. The Award is
granted subject to the terms and conditions of the Plan, this Notice of Restricted Stock Unit Award (the “Notice”) and the attached Restricted Stock Unit Award Terms (the “Terms”), including any applicable
country-specific provisions in the appendix attached thereto (if any) (the “Appendix”), (the Notice together with Terms (including the Appendix) being the “Agreement”), 

Unless otherwise defined in this Agreement, any capitalized terms used in this Agreement will have the meaning given to them in the Plan. 

 

			
	 Participant Name:
		 «Employee_Name»

		
	 Total Number of RSUs:
		 «Number_of_RSUs_1»

		
	 Date of Grant:
		
[¿           
 ]

		
	 Vesting Commencement Date:
		
[¿           
 ]

		
	 Vesting Schedule:
		 Vesting of your RSUs will occur over the four-year period beginning on the Vesting Commencement Date specified above; twenty-five percent (25%) of the Total
Number of RSUs will vest on the first anniversary of the Vesting Commencement Date and the remaining seventy-five percent (75%) will vest in a series of twelve (12) equal quarterly instalments thereafter, each of 6.25% of the Total Number
of RSUs.

		
	 Settlement:
		 For each RSU which vests, one Share will be delivered to you in accordance with Section 3 of the Terms.

 You acknowledge that vesting of the RSUs pursuant to the Award is earned only by continuing in Service. You acknowledge
and agree that the vesting schedule described above may change prospectively in the event that your Service status changes, in accordance with Company policies relating to leave from work, work schedules and vesting of awards under the Plan, and the
provisions of the Plan. 
 You further acknowledge that the grant of the Award is at the Company’s sole discretion, and does not entitle you to
further grant(s) of Awards in respect of RSUs or any other award(s) under the Plan or any other plan or program maintained by the Company or any Associated Company or affiliate of the Company. 

You are required to pay the Company a nominal amount in consideration for the grant of your Award. That amount will be determined by the currency in
which your salary is paid and will be the appropriate one of the following: one pound sterling (£1); one U.S. dollar ($1); one Euro (€1) or ten Swedish Kroner (SEK10) or a single unit
of the relevant local currency. Unless otherwise determined by the Company, and notified to you, the appropriate amount will be deducted from payroll on the next practicable payroll date after the date on which you confirm acceptance of the Award
and you hereby authorise that deduction. 
 You will not be required to make any payment to the Company with respect to the vesting of the RSUs or the
delivery of Shares in settlement of the RSUs; provided, however, that to the extent that any Shares delivered upon settlement of your Award are newly issued Shares, you must pay the Company the amount equal to the nominal value of such Shares
($0.00008 per Share) (the “Purchase Price”). You hereby irrevocably undertake to pay the Company the Purchase Price and you hereby authorise the 

  
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Company or any Associated Company at their election to: (i) deduct the Purchase Price from your salary or other payment due to you from the Company or any Associated Company, on a date
determined by the Company or any Associated Company, prior to or after the vesting date of the relevant RSUs, or (ii) deduct the Purchase Price from the proceeds of a same-day sale described in Section 15.2 of the Terms. 

The Award shall not take effect unless you have confirmed your acceptance of it on the on-line or electronic system operated by Computershare by the
date indicated below. By doing so you will be accepting the Award on the terms and conditions set out in this Notice, the attached Terms (including any Appendix) and the Plan, and in consideration of the grant of the Award by the Company, you will
undertake the obligations given to you under this Notice, the Terms and the Plan. Also you will be consenting to the delivery to you of Plan documents, including any notices provided for in the Terms, this Notice or the Plan, by electronic delivery
and to participating in the Plan through an on-line or electronic system established and maintained by the Company, Computershare or another third party designated by the Company. 

 

					
	 SIGNED
 on behalf of
KING DIGITAL ENTERTAINMENT
 PUBLIC LIMITED
COMPANY
				
	 by
                                         
           
				  

	 its authorised signatory:
				     Authorised Signatory (Signature)

 IMPORTANT: YOU MUST ACCEPT THIS AWARD BY
¿

  
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 KING DIGITAL ENTERTAINMENT PUBLIC
LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD TERMS 

(GLOBAL) 

Pursuant to your attached Notice of Restricted Stock Unit Award (the “Notice”) and these Restricted Stock Unit Award
Terms, including any country-specific Appendix, (together with the Notice, being the “Agreement”), King Digital Entertainment Public Limited Company (the “Company”) has granted you a Restricted Stock Unit Award (the
“Award”) under its 2014 Equity Incentive Plan (the “Plan”). The Award is granted to you effective as of the date of grant set forth in the Notice (the “Date of Grant”) although shall not take effect
unless you accept the Award on the on-line or electronic system operated by Computershare by the date indicated in the Notice. 

Except as otherwise explicitly provided in this Agreement, in the event of any conflict between the terms in this Agreement and the
Plan, the Plan shall take precedence. 
 Capitalized terms not explicitly defined in this Agreement but defined in the Plan shall have
the same definitions as in the Plan. This Agreement constitutes an Award Agreement for the purposes of the Plan. 
 The terms and
conditions of your Award, in addition to those set forth in the Notice and the Plan, are as follows. 
  

	1.	 Grant of the Award. The Award represents your right to receive on specified future dates, in accordance with the vesting schedule set out in
the Notice (the “Vesting Schedule”), the number of Shares that is equal to the number of RSUs that vest on each such date, upon payment to the Company of the Purchase Price (nominal value $0.00008 per Share) if the Shares to be
delivered to you, as determined by the Company, are to be newly issued Shares, or for no consideration payable by you if the Shares to be delivered to you are already issued Shares. 

 

	2.	 Vesting. The RSUs subject to your Award will vest, if at all, in accordance with the Vesting Schedule, provided that vesting of the RSUs will
cease upon the termination of your Service. 

  

	3.	 Settlement. 

  

	 	3.1	 Settlement of vested RSUs shall be made on or as soon as practicable after the applicable date of vesting under the Vesting Schedule but in any event within
thirty (30) days after such date. Except as otherwise provided under the Plan, settlement of RSUs shall be in Shares. Settlement means the delivery to you of the number of Shares subject to a vested RSU. Where fractional rights arise, they
shall be credited to you and accumulated and carried forward to the last date on which RSUs vest. 

  

	 	3.2	 Notwithstanding the foregoing, in the event that (i) you are subject to the Insider Trading Policy (the “Policy”) or (ii) you are
otherwise prohibited from selling Shares in the open market, and any Shares covered by your Award are scheduled to be delivered on a day (the “Original Settlement Date”) that does not occur during an open “window period”
applicable to you or a day on which you are permitted to sell Shares pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act, as determined by the Company in accordance with the Policy, or does not occur on a
date when you are otherwise permitted to sell Shares in the open market, then the Company may determine that such Shares shall not be delivered on the Original Settlement Date and shall instead be delivered on the first U.S. business day of the next
occurring open “window period” applicable to you pursuant to the Policy (regardless of whether you are still in Service at such time) or the next U.S. business day when you are not prohibited from selling Shares in the open market.

  
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	4.	 Shares/Electronic Delivery of Shares. Shares delivered to you on settlement of your RSUs shall be previously authorised but unissued Shares or
issued Shares that have been reacquired by the Company or by an Employee Benefit Trust. Upon issuance, Shares shall be fully paid and nonassessable. Delivery of Shares to you shall be effected by crediting the depositary nominated by the Company,
Depositary Trust Company (or its nominee), with the number of Shares due to you, to be held by it in electronic form on your behalf as beneficial owner. 

  

	5.	 No Shareholder Rights. Unless and until such time as Shares are delivered to you in settlement of vested RSUs, you, or any person claiming
under or through you, shall have no ownership of the Shares subject to the RSUs and shall have no right to dividends in respect of or to vote such Shares. 

  

	6.	 Dividend Equivalents. Dividend Equivalents shall not be credited to you in respect of the RSUs subject to the Award. 

 

	7.	 Number of RSUs and Shares. 

  

	 	7.1	 The number of RSUs subject to your Award may be adjusted from time to time for variations in the Company’s share capital, as provided in the Plan.

  

	 	7.2	 Any additional RSUs that become subject to the Award pursuant to this Section 7 shall be subject, in a manner determined by the Company, to the same
terms and conditions and time and manner of vesting and settlement as applicable to the RSUs in respect of which such additional RSUs are issued. 

  

	8.	 Unsecured Obligation. The Award is unfunded, and as a holder of vested RSUs you shall be considered an unsecured creditor of the Company with
respect to the Company’s obligation, if any, to deliver Shares pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a
fiduciary relationship between you and the Company or any other person. 

  

	9.	 No Transfer. The Award and the RSUs are not transferable and may not be sold, pledged, assigned, hypothecated, transferred or otherwise
disposed of by you in any manner other than by will or by the laws of descent or distribution or unless otherwise permitted by the Company on a case-by-case basis in accordance with the Plan. The Award and the RSUs shall lapse to the extent you
purport to so sell, pledge, assign, hypothecate, transfer or otherwise dispose of them. After the Shares have been delivered to you, you are free to sell, pledge, assign, hypothecate, donate, encumber or otherwise dispose of any interest in such
Shares, provided that any such action is in compliance with the provisions herein (including the country-specific Appendix hereto) and Applicable Law. 

  

	10.	 Termination of Service. If your Service terminates for any reason, the Award, to the extent not vested, shall lapse and all unvested RSUs shall
be forfeited to the Company forthwith, and all rights you have to such RSUs shall immediately terminate, without payment of any consideration to you. Your Service will be considered terminated as of the date you cease to be an Employee, Consultant,
Director or Non-Employee Director of the Company or an Associated Company (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the
terms of your employment agreement, if any) and, subject to Applicable Law, your Service will not be extended by any notice period or garden leave period mandated by Applicable Law or any period during which you have ceased to provide services to
the Company or an Associated Company but during which the Company or an Associated Company is legally required to continue to employ you. In case of any dispute as to whether your termination of Service has occurred, the Committee shall have sole
discretion to determine whether such termination has occurred and the effective date of such termination. 

  
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	11.	 No Rights as Employee, Director or Consultant. 

  

	 	11.1	 Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company or an Associated Company to terminate your Service, for any
reason, with or without cause. 

  

	 	11.2	 Nothing in this Agreement (including, but not limited to, the vesting of RSUs pursuant to the Vesting Schedule or the delivery of Shares in respect of the
Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Associated
Company; (ii) constitute any promise or commitment by the Company or an Associated Company regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or
affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or the Plan; or (iv) deprive the Company or its Associated Companies,
as applicable, of the right to terminate your Service without regard to any future vesting opportunity that you may have under this Award. 

  

	 	11.3	 By accepting this Award, you acknowledge and agree that the right to continue vesting in the Award pursuant to the Vesting Schedule is earned only by
continuing in Service (not through the act of being hired, being granted this Award or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Associated
Companies at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and agree that such a reorganization could result in the termination of your Service, or the termination of Associated
Company status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination of the right to continue vesting in RSUs under the Award. You further acknowledge and agree that this
Agreement, the Plan, the transactions contemplated hereunder and the Vesting Schedule or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued employment or
engagement as an employee or director of or consultant to the Company or any Associated Company for the duration of the Vesting Schedule, for any period, or at all, and shall not interfere in any way with your right or the right of the Company or
any Associated Company, as applicable, to terminate your Service at any time. 

  

	12.	 Discretionary Nature of Award. In accepting the Award, you acknowledge, understand and agree that: 

 

	 	12.1	 the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to
the extent permitted by the Plan; 

  

	 	12.2	 the grant of the Award is voluntary and occasional and does not create any contractual or other right to receive future grants of Awards in respect of RSUs
or other Awards under the Plan, or benefits in lieu of Awards, even if Awards have been granted in the past; 

  

	 	12.3	 all decisions with respect to future Awards of RSUs or other Awards, if any, will be at the sole discretion of the Company; 

 

	 	12.4	 you are voluntarily participating in the Plan; 

  

	 	12.5	 the Award and any Shares acquired by you under the Plan are not intended to replace any pension rights or compensation; 

  
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	 	12.6	 the Award and any Shares acquired under the Plan and the income and value of same are not part of normal or expected compensation or salary for purposes of
calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments or for any other purpose; 

 

	 	12.7	 the future value of the Shares underlying the Award is unknown, indeterminable, and cannot be predicted with certainty; 

 

	 	12.8	 no claim or entitlement to compensation or damages shall arise from lapse of the Award or forfeiture of the RSUs resulting from you ceasing to be employed by
or provide other services to the Company or any Associated Company (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment
agreement, if any), and in consideration of the grant of the Award to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any of its Associated Companies, waive your ability, if any, to
bring any such claim, and release the Company and its Associated Companies from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be
deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 

 

	 	12.9	 unless otherwise provided in the Plan or by the Company in its discretion, the Award, the RSUs and the benefits evidenced by this Agreement do not create any
entitlement to have the Award or the RSUs or any such benefits transferred to, or assumed by, another company or exchanged, cashed out, replaced or substituted for or otherwise continued or preserved or dealt with in any particular manner in
connection with a Corporate Transaction; and 

  

	 	12.10	 you acknowledge and agree that neither the Company nor any Associated Company shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Award and the RSUs or of any amounts due to you pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired upon settlement. 

 

	13.	 Award Subject to Company Clawback or Recoupment. The Award shall be subject to clawback or recoupment pursuant to any compensation clawback or
recoupment policy adopted by the Company or required by law during the term of your service that is applicable to you, and in addition to any other remedies available under Applicable Law, such policy may require the cancellation of your Award in
full or in part (whether vested or unvested), a reduction in the number of RSUs that will vest, and/or the recoupment of any economic benefit already realized by you with respect to the Award or Shares delivered under it, if you engage or have
engaged in activity that is inimical, contrary or harmful to the interests of the Company, as more fully described in such policy.  

  

	14.	 Tax Consequences. You acknowledge that there may be tax consequences upon the grant of the Award, vesting and/or settlement of the RSUs or
disposition of the Shares, if any, received in connection therewith, and you should consult a tax adviser regarding your tax obligations prior to such grant, vesting or settlement or disposition, in the jurisdiction(s) where you are subject to tax.

  

	15.	 Payment of Taxes.  

  

	 	15.1	 Regardless of any action the Company or your actual employer (the “Employer”) takes with respect to any or all income tax, national or
social insurance contributions, payroll tax, payment on account or other tax-related withholding or required deductions (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you
is and remains your responsibility and that the 

  
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Company and/or the Employer and/or the Employee Benefit Trust (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of
the Award, including the settlement of the RSUs, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends; and (2) do not commit to structure the terms of the Award or any aspect of the RSUs to reduce
or eliminate your liability for Tax-Related Items. You acknowledge that if you are subject to Tax-Related Items in more than one jurisdiction, the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than
one jurisdiction. 

  

	 	15.2	 Upon settlement of your RSUs, payment of all Tax-Related Items shall be discharged by the deduction of the amount required to satisfy such Tax-Related Items
from the proceeds of the immediate sale of such portion of the Shares delivered to you on settlement of your RSUs as is sufficient to discharge the Tax-Related Items, as determined by the Company, and any fees or charges payable by you in connection
with such sale, through a mandatory sale arranged by the Company on your behalf by a Company-designated broker (a “Mandatory Same-Day Sale”). You shall pay to the Company or the Employer or the Employee Benefit Trust any amount of
Tax-Related Items that the Company or the Employer or the Employee Benefit Trust may be required to withhold as a result of your participation in the Plan or your receipt of Shares that is not satisfied by a Mandatory Same-Day Sale, in such manner
as may be permitted under the Plan and approved by the Company. Finally, you acknowledge that the Company has no obligation to deliver Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in
this Section. 

  

	 	15.3	 You hereby agree to indemnify and hold the Company, the Employer, the Employee Benefit Trust and each Associated Company of the Company harmless in respect
of all Tax-Related Items. 

  

	16.	 No Advice Regarding Award. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations
regarding your participation in the Plan, or your acquisition or sale of Shares under the Award. You are advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action
related to the Plan or the Award. 

  

	17.	 Consent to Electronic Delivery of All Plan Documents and Communications. Any notices provided for under this Agreement or the Plan shall be
given in writing (including electronically) and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, fourteen (14) days after posting from the United Kingdom by prepaid post, addressed to
you at the last address you provided to the Company. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or request your
consent to participate in the Plan by electronic means. By accepting this Award you are consenting to receive such documents by electronic delivery and agreeing to participate in the Plan through an on-line or electronic system established and
maintained by the Company, Computershare or another third party designated by the Company. 

  

	18.	 Compliance with Laws and Regulations.  

  

	 	18.1	 Shares will not be delivered to you in respect of the Award unless either (i) the Shares are registered under the Securities Act; or (ii) the
Company has determined that such issuance or delivery would be exempt from the registration requirements of the Securities Act. The delivery of Shares to you under the Award will also be subject to and conditioned upon compliance by the Company and
you with all other Applicable Law. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance or transfer or sale of
any Shares shall relieve the Company of any liability in respect of the failure to issue or transfer or sell such 

  
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Shares as to which such requisite authority shall not have been obtained. The Company shall not be obliged to register the Shares with the SEC or to effect compliance with the registration,
qualification or listing requirements of any securities laws, exchange control laws, stock exchange or automated quotation system and the Company shall have no liability to you for any inability or failure to do so. 

 

	 	18.2	 As a condition to the delivery of any Shares pursuant to this Award, the Company may require you to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Company. Shares delivered pursuant to this Agreement shall be endorsed with appropriate legends,
if any, determined by the Company. 

  

	19.	 Appendix. Notwithstanding any provision in this Agreement, the Award shall be subject to any special terms and conditions set forth in any
Appendix to this Agreement for your country. Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company determines that the application
of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement. 

  

	20.	 Necessary Amendments. Notwithstanding anything in the Plan to the contrary, the Company reserves the right to change, by written notice to you,
the provisions of this Agreement in any way it may deem necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

  

	21.	 Data Protection. 

  

	 	21.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, the trustees of any Employee Benefit Trust, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the
exclusive purpose of implementing, administering and managing your participation in the Plan. 

  

	 	21.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of all Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour, details of any change in
your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	 	21.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that a recipient’s country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that you may request a list with the names and
addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorize the Company, its designated Plan broker and Plan administrator and any other possible recipients which may assist the
Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic 

  
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or other form, for the sole purpose of implementing, administering and managing your participation in the Plan. 

 

	 	21.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal Data or refuse or withdraw the
consents herein, in any case without cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later
seek to revoke your consent, your employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not
be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain your Award and to
participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

 

	22.	 Entire Agreement; Enforcement of Rights. 

  

	 	22.1	 This Agreement and the Plan constitute the entire agreement and understanding between you and the Company and its Associated Companies relating to the
subject matter herein and they supersede all prior discussions between you and the Company or any Associated Company regarding the subject matter. Any prior agreements, commitments or negotiations concerning the Award are superseded.

  

	 	22.2	 The provisions of this Agreement (and, in particular, Section 15) may also be enforced by the Employer, the Employee Benefit Trust (and its trustee) and
each Associated Company of the Company. 

  

	23.	 Amendments. Subject to Section 20, no modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement,
shall be effective unless in writing (including electronically) and signed (or consented to by electronic means approved by the Company) by both you and the Company and, in the case of the Company, executed as a deed where so required. The failure
by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

  

	24.	 Further Assurance. You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of
the Company to carry out the purposes or intent of the Award. 

  

	25.	 Plan Prospectus and Insider Trading Policy. You hereby acknowledge receipt or the right to receive a document providing the information
required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s Insider Trading Policy permitting officers, directors and employees of the Company and
its Associated Companies to trade Shares only during certain “window” periods, in effect from time to time. 

  

	26.	 Successors and Assigns. Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to the benefit
of, the executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Company. 

  
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	27.	 Severability. If one or more provisions of this Agreement are held to be unenforceable under Applicable Law, you and the Company agree to
renegotiate such provision in good faith. In the event that a mutually agreeable and enforceable replacement for such provision cannot be agreed, then, to the maximum extent permitted by Applicable Law, (i) such provision shall be excluded from
this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded, and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. 

 

	28.	 Governing Law. This Agreement and the Plan, and all acts and transactions pursuant hereto and the rights and obligations of the
parties hereto shall be governed, construed and interpreted in accordance with the laws of England and Wales and the Courts of England and Wales shall have exclusive jurisdiction in relation to all matters arising under this Agreement and the Plan.

  

	29.	 Translations. If you have received this Agreement or any other document related to the Plan translated into a language other than English and
if the meaning of the translated version is different to the English version, the English version will control. 

  

	30.	 Headings. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this
Agreement or to affect the meaning of this Agreement. 

  

	31.	 Counterparts. The Notice may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile, and each of
which shall be deemed to be an original, but all of which together shall be deemed to be one and the same instrument. 

Acknowledgement. The Company and you agree that the Award is granted under and governed by this Agreement and the Plan. You acknowledge
that a copy of the Plan has been made available to you on Kingfluence and you represent that you have carefully read and are familiar with its provisions. 

By accepting the Award, you shall be deemed to have agreed to the terms and conditions of the Restricted Stock Unit Award Terms (including any Appendix
thereto), the Notice and the Plan. 

  
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 Appendix 

to the 
 Restricted Stock Unit Award Terms

 (Global) 
 TERMS AND CONDITIONS

 This Appendix contains additional terms and conditions that govern the Award granted under the Plan to you if you reside and/or work in one of
the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the Notice and/or the Terms. 

In the event of any conflict between the provisions of this Appendix and the Notice and/or the Terms, this Appendix shall prevail. 

If you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after the Award is granted, or
are considered a resident of another country for local law purposes, the information contained herein may not be applicable to you, and the Company shall, in its discretion, determine to what extent the terms and conditions contained herein shall
apply to you. 
 GENERAL 
 This Appendix
contains information of which you should be aware with respect to your participation in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of 1 March 2014. Such laws
are often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your participation in the Plan because the
information may be out of date at the time your RSUs vest or you sell Shares acquired pursuant thereto. 
 The information contained herein is general
in nature and may not apply to your particular situation, and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may
apply to your situation. 
 GERMANY 
  

	1.	 Notification to Bundesbank under art. 67 Export Control Ordinance (Außenwirtschaftsverordnung, AWV): You will have an obligation to notify the
Bundesbank of payments made to you under the Plan from a foreign entity if they exceed €12,500 and are not made through a German bank. Any such notification is entirely your responsibility.

  

	2.	 The following additional provision shall form part of Section 15 of the Terms: 

“15.4        The Company shall upon settlement of your RSUs disclose such settlement, the
number of Shares delivered, the Purchase Price per Share and the market value of the Shares at the time of the settlement to your Employer. The Employer shall have a claim of its own against the Company in respect of such information.” 

 

	3.	 The human resources representative to be contacted with regard to your Personal Data, in accordance with Section 21.4 of the Terms, shall be the
responsible human resources representative of the Company. 

  
 11 

 KOREA 

Your Award is subject to the Plan, the Sub-Plan Governing Awards to Participants in the Republic of Korea and to the following specific conditions. 

 

	1.	 To the extent that the Agreement provides for any amount payable by you in respect of or in connection with the Award to be deducted from your salary, such
deduction shall only be permitted to the extent permitted by Applicable Law and, in particular, the Labor Standards Act of Korea, and you hereby agree that in the event that such deduction is not so permitted, you shall pay any such amount due
directly to the Company or by another means approved by the Company and permitted under Applicable Law. 

  

	2.	 If, under Applicable Law, you must file a report with or receive the approval of the Governor of the Bank of Korea or other supervisory agencies
(“Approvals”) in order to receive the Award, or acquire the Shares upon vesting of your RSUs, then your obtainment of such Approvals shall be a condition precedent to your right to receive the Award and to acquire the Shares upon
vesting of the RSUs. If, for any reason, you fail to obtain such Approval, then the Company shall bear no obligation whatsoever to you regarding the Award, the RSUs or the Shares subject thereto. 

 

	3.	 An Associated Company incorporated in Korea shall, in collecting, retaining, using, processing, transferring and disclosing to others your Personal Data,
comply with the provisions of the Personal Information Protection Act. Section 21 shall apply to such collection, retention, use, processing, transfer and disclosure to the maximum extent permitted by the Personal Information Act.

 MALTA 
 To the extent
that the Agreement provides for any amount payable by you in respect of or in connection with the Award to be deducted from your salary, you hereby agree that in lieu of such deductions, the Company may instead reduce your salary by the amount equal
to such deductions. 
 ROMANIA 
 Your Award
is subject to the Plan, the Sub-Plan Governing Awards to Participants in Romania and the following specific conditions: 
  

	1.	 Section 21.4 of the Terms shall be amended and replaced by the following: 

“You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your
participation in the Plan. You understand that you may, at any time, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal
Data, not be subject to an individual decision based on automatic processing, address to the supervisory authority or to a court of law, refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human
resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or service and career with the
Company or its Associated Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Awards under the Plan or other options or other equity awards
or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain your Award and to participate in the Plan. For more information on the consequences of your refusal to
consent or withdrawal of consent, you understand that you may contact your local human resources representative.” 

  
 12 

 SPAIN 
 The
following provisions shall replace Section 21 of the Terms: 
  

	“21.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, the trustees of any Employee Benefit Trust, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the
exclusive purpose of implementing, administering and managing your participation in the Plan. 

  

	21.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of all Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour, details of any change in
your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	21.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, for assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that some recipients’ countries (for example the United States) may apply data protection standards which are not equivalent to the ones applied within the European Union. You understand that
you may request a list with the names and addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorize the Company, its designated Plan broker and Plan administrator and any other
possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic or other form, for the sole purpose
of implementing, administering and managing your participation in the Plan. 

  

	21.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, execute your access, rectification, cancellation and objection rights on data, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any
necessary amendments to or deletions from your Personal Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the
consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only
adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that
refusing or withdrawing your consent may affect your ability to retain your Award and to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your
local human resources representative.” 

  
 13 

 UNITED KINGDOM 

To the extent permitted by Applicable Law, the Company may at any time prior to the vesting of RSUs under your Award determine that
liability for all or some of the employer’s National Insurance Contributions arising therefrom (or from the acquisition of Shares pursuant thereto) shall be transferred to or borne by you (“Determination”). In the event that
the Company makes the Determination, you will be notified. You hereby agree that following such notification you will at any time upon request join in with the Company or any Associated Company or any other person in making any election or notice
reasonably required by the Company or such Associated Company or other person (as applicable) for the purpose of ensuring that the liability for all employer’s National Insurance Contributions (or any similar social security contributions)
arising as a consequence of the vesting of your RSUs (or the acquisition of Shares pursuant thereto) is assumed and borne solely by you and treated as a liability falling on you instead of on the Company or such Associated Company or other person
(as applicable) and in entering into any arrangements required by HM Revenue & Customs (“HMRC”) for securing that any liability so assumed is duly paid by you. You shall not be required to enter into any election or notice
pursuant to this paragraph in the event that you enter into such other arrangements with the Company, any Associated Company or any other person (as applicable) that are satisfactory to the Company, such Associated Company or any other person (as
applicable) to discharge any liability referred to in this paragraph. If the Company makes the Determination, you shall indemnify and keep indemnified the Company, your Employer and any Associated Company against all employer’s National
Insurance Contributions arising from the vesting of RSUs under your Award (or the acquisition of Shares pursuant thereto) and to the extent permitted by Applicable Law and (save where you are liable to account for the same directly to HMRC) such
employer’s National Insurance Contributions shall be treated as a Tax-Related item for the purpose of Section 15. 
 WF-10301994-2 

  
 14 

 KING DIGITAL ENTERTAINMENT PUBLIC LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

NOTICE OF SHARE OPTION GRANT 

(GLOBAL) 
 You (being the
Participant named below) (“you”) have been granted an option (the “Option”) by King Digital Entertainment Public Limited Company (the “Company”) under its 2014 Equity Incentive Plan (the
“Plan”) to subscribe for the number of Shares set out below (the “Option Shares”). The Option is granted subject to the terms and conditions of the Plan, this Notice of Share Option Grant (the
“Notice”) and the attached Share Option Terms (the “Terms”), including any applicable country-specific provisions in the appendix attached thereto (if any) (the “Appendix”), (the Notice together
with Terms (including the Appendix) being the “Agreement”). 
 Unless otherwise defined in this Agreement, any capitalized
terms used in this Agreement will have the meaning given to them in the Plan. 
  

			
	 Participant Name:
		
                               
                     

		
	Option Shares (Number):		
                               
                                 

		
	Date of Grant:		  

		
	Exercise Price per Option Share:		  

		
	[Type of Option:		 Non-Qualified Stock Option [Delete for Non-U.S. Options]

		
	Expiration Date:		                  , 20     (the
“Expiration Date”). The Option will expire before the Expiration Date if your Service terminates, as described in the Terms, and may expire earlier in other circumstances in accordance with the Terms and the Plan.

		
	Vesting Commencement Date:		  

		
	Vesting Schedule:		 The Option will become exercisable in instalments over the period of 48 months measured from the Vesting Commencement Date; the Option will become exercisable with
respect to twenty-five percent (25%) of the total number of Option Shares on the date 12 months after the Vesting Commencement Date and with respect to the remaining seventy-five percent (75%) in a series of 12 equal quarterly instalments over the
36-month period thereafter.

 You acknowledge that vesting of the Option is earned only by continuing in Service. You acknowledge and agree that
the vesting schedule described above may change prospectively in the event that your Service status changes, in accordance with Company policies relating to leave from work, work schedules and vesting of Options under the Plan, and the provisions of
the Plan.
 You further acknowledge that the grant of the Option is at the Company’s sole discretion, and does not entitle you to further
grant(s) of Options or other Award(s) under the Plan or awards under any other plan or program maintained by the Company or any Associated Company or affiliate of the Company. 

You are required to pay the Company a nominal amount in consideration for the grant of your Option. That amount will be determined by the currency
in which your salary is paid and will be the appropriate one of the following: one pound sterling (£1); one U.S. dollar ($1); one Euro (€1) or ten Swedish Kroner (SEK10) or a
single unit of the relevant local currency. Unless otherwise determined by the Company, and notified to you, the appropriate amount will be deducted from payroll on the next practicable payroll date after the date on which you confirm your
acceptance of the Option, and you hereby authorise that deduction. 
 The Option shall not take effect unless you have confirmed your acceptance of it
on the on-line or electronic system operated by Computershare by the date indicated below. By doing so you will be 

  
 1 

 
accepting the Option on the terms and conditions set out in this Notice, the attached Terms (including any Appendix) and the Plan, and in consideration of the grant of the Option by the Company,
you will undertake the obligations given to you under this Notice, the Terms and the Plan. 
 Also, you will be consenting to the delivery to you of
Plan documents, including any notices provided for in the Terms, this Notice or the Plan, by electronic delivery and to participating in the Plan through an on-line or electronic system established and maintained by the Company, Computershare or
another third party designated by the Company. 
  

			
	 SIGNED

on behalf of KING DIGITAL ENTERTAINMENT

PUBLIC LIMITED COMPANY

by
                                         
   
 its authorised signatory:
		  

			   Authorised Signatory (Signature)

			

 IMPORTANT: YOU MUST ACCEPT THIS OPTION BY
¿ 

  
 2 

 KING DIGITAL ENTERTAINMENT PUBLIC LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

SHARE OPTION TERMS 

(GLOBAL) 

Pursuant to the attached Notice of Share Option Grant (the “Notice”) and these Share Option Terms (the
“Terms”), (including any applicable country-specific provisions in the Appendix attached hereto (if any)), King Digital Entertainment Public Limited Company (the “Company”) has granted you an option under its 2014
Equity Incentive Plan (the “Plan”) to subscribe for up to the number of Shares specified in the Notice (the “Option”). The Option is granted to you effective as of the date of grant specified in the Notice (the
“Date of Grant”) although shall not take effect unless you accept the Award on the on-line or electronic system operated by Computershare by the date indicated in the Notice. 

Except as otherwise explicitly provided in this Agreement, in the event of any conflict between the terms in this Agreement and the
Plan, the Plan shall take precedence. 
 Capitalized terms not explicitly defined in the Notice or this Agreement but defined in the
Plan shall have the same definitions as in the Plan. This Agreement constitutes an Award Agreement for the purposes of the Plan. 

The terms and conditions of your Option, in addition to those set forth in the Notice and the Plan, are as follows. 

 

	1.	 Grant of Option. The Option comprises your right to subscribe for the Option Shares at the exercise price per Option Share set forth in the
Notice (the “Exercise Price”). 

  

	2.	 Exercisability/Vesting of Option. The Option shall become exercisable for the Option Shares in accordance with the Vesting Schedule.

  

	3.	 Exercise of Option. 

  

	 	3.1	 Right to Exercise. The Option, to the extent exercisable in accordance with the Vesting Schedule and the applicable provisions of the Plan and this
Agreement, may be exercised in full or in part at any time. The Option may not be exercised for a fraction of an Option Share. 

  

	 	3.2	 Taxes. You will not be allowed to exercise the Option unless you make arrangements acceptable to the Company to pay any taxes, social insurance
contributions and other required deductions that may be due as a result of the Option exercise. 

  

	 	3.3	 Method of Exercise. 

  

	 	3.3.1	 The Option may be exercised by delivery of a notice of exercise in a form specified by the Company (the “Notice of Exercise”), which shall
state your election to exercise the Option, the number of Option Shares in respect of which the Option is being exercised (the “Exercised Shares”), and contain such other representations and agreements as may be required by the
Company pursuant to the provisions of the Plan. The Notice of Exercise shall be delivered in such form as shall be notified to you from time to time by or on behalf of the Company, which may include delivery in person, by mail, via electronic mail
or facsimile or by other authorised method to the Secretary of the Company or other person designated by the Company. The Notice of Exercise shall be accompanied by payment of the aggregate Exercise Price for the Exercised Shares. The Option shall
be deemed to be exercised upon receipt by the Company of a fully executed Notice of Exercise accompanied by the aggregate Exercise Price payable and payment in full for any Tax-Related Items due upon exercise of the Option (as described in
Section 18 below). 

  
 3 

	 	3.3.2	 The Option may also be exercised pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act. 

 

	 	3.4	 Exercise by Another. If another person elects to exercise the Option after it has been transferred to him or her in compliance with this Agreement and
the Plan, that person must prove to the Company’s satisfaction that he or she is entitled to exercise the Option. That person must also complete a Notice of Exercise and pay the Exercise Price and any Tax-Related Items due upon exercise of the
Option (as described in Section 18 below). 

  

	4.	 Method of Payment of Exercise Price. Payment of the aggregate Exercise Price for the Exercised Shares shall be by one of the following, or a
combination thereof: 

  

	 	4.1	 cashless exercise through irrevocable directions to a securities broker approved by the Company to sell all or part of the Exercised Shares and to deliver to
the Company from the sale proceeds an amount sufficient to pay the aggregate Exercise Price of the Exercised Shares, and any Tax-Related Items due upon exercise of the Option (as described in Section 18 below) (a “Same-Day
Sale”). The balance of the sale proceeds, if any, will be delivered to you. The directions must be given by electronic or other means permitted by the Company; or 

 

	 	4.2	 other method authorised by the Company. 

  

	5.	 Insider Trading Policy. The exercise of the Option and all transactions in the Shares issuable upon exercise of the Option shall be subject to
the Company’s then current Insider Trading Policy. 

  

	6.	 No Exercise during Disciplinary Procedure. If you are subject to an investigation or disciplinary process which in the Committee’s opinion
could result in a termination of your Service for Cause the Committee may, in its sole discretion, determine that no exercise of the Option will be permitted while such investigation or process is in progress. 

 

	7.	 Shares/Electronic Delivery of Shares. The Shares issued to you on exercise of your Option shall be newly issued Shares. Upon issuance, the
Shares shall be fully paid and non-assessable. Delivery of Shares to you shall be effected by crediting the depositary nominated by the Company, Depositary Trust Company (or its nominee), with the number of Shares due to you, to be held by it in
electronic form on your behalf as beneficial owner. 

  

	8.	 No Shareholder Rights. Unless and until such time as Shares are issued to you upon exercise of the Option, you, or any person claiming under or
through you, shall have no ownership of the Shares subject to the Option and shall have no right to dividends in respect of or to vote the Option Shares. 

  

	9.	 Dividend Equivalents. Dividend Equivalents shall not be credited to you in respect of the Option Shares. 

 

	10.	 Variation of Option Shares. The Option Shares and the Exercise Price may be adjusted from time to time for variations in the Company’s
share capital, as provided in the Plan. 

  

	11.	 No Transfer. The Option is not transferable and may not be sold, pledged, assigned, hypothecated, transferred or otherwise disposed of by you
in any manner other than by will or by the laws of descent or distribution or unless otherwise permitted by the Company on a case-by-case basis in accordance with the Plan. The Option shall lapse to the extent you purport to so sell, pledge, assign,
hypothecate, transfer or otherwise dispose of it. After the Shares have been issued to you, upon exercise of the Option, you are free to sell, pledge, assign, hypothecate, donate, encumber or otherwise dispose of any interest in such Shares,
provided that any such action is in compliance with the provisions of this Agreement, (including the country-specific Appendix hereto), the Plan and Applicable Law. 

  
 4 

	12.	 Termination of Service 

  

	 	12.1	 Unvested Option Shares. If your Service terminates for any reason, the Option will lapse on the date of termination of your Service with respect to
the number of Option Shares for which it is not yet exercisable as of that date in accordance with the Vesting Schedule. 

  

	 	12.2	 Vested Option Shares - General Rule. If your Service terminates for any reason except death, retirement in accordance with your contract of Service or
Disability, then, to the extent the Option is exercisable in accordance with the Vesting Schedule as of the date of termination of your Service, it may be exercised within the period of three (3) months after such date. To the extent not so
exercised, the Option shall lapse at the close of business at Company headquarters on the date three (3) months after the date your Service terminates. 

  

	 	12.3	 Vested Option Shares – Death. If your Service terminates by reason of your death, or if you die within three (3) months after your Service
terminates (other than for Cause or due to Disability or retirement), then, to the extent the Option is exercisable in accordance with the Vesting Schedule as of the date of termination of your Service, it may be exercised within the period of 12
months after such date by your estate or the person who acquired the right to exercise the Option by bequest or inheritance. To the extent not so exercised, the Option shall lapse at the close of business at Company headquarters on the date 12
months after the date your Service terminates. 

  

	 	12.4	 Vested Option Shares – Disability or Retirement. If your Service terminates because of your Disability or retirement in accordance with
your contract of Service, then to the extent the Option is exercisable in accordance with the Vesting Schedule as of the date of termination of your Service, it may be exercised within the period of 12 months after such date. To the extent not so
exercised, the Option shall lapse at the close of business at Company headquarters on the date 12 months after the date your Service terminates. 

  

	 	12.5	 Termination for Cause. If your Service is terminated for Cause, the Option shall lapse in its entirety on the date of termination of your
Service or, if earlier, the service of notice of such termination. 

  

	 	12.6	 No Notice of Post-Service Exercise Period. You are responsible for ascertaining the applicable period during which the Option may be exercised
following the termination of your Service for any reason. The Company will not provide you with any notice of such period or its expiration. 

  

	 	12.7	 Date of Termination of Service. Your Service will be considered terminated as of the date you cease to be an Employee, Consultant, Director or
Non-Employee Director of the Company or an Associated Company, (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of
your employment agreement, if any) and, subject to Applicable Law, your Service will not be extended by any notice period or garden leave period mandated by local law or any period during which you have ceased to provide services to the Company or
an Associated Company but during which the Company or an Associated Company is legally required to continue to employ you. In case of any dispute as to whether your termination of Service has occurred, the Committee shall have sole discretion to
determine whether such termination has occurred and the effective date of such termination. 

  
 5 

	 	12.8	 No Exercise after Expiration Date. In no event may the Option be exercised later than the Expiration Date set forth in the Notice.

  

	13.	 Term of Option. The Option shall in any event expire on the Expiration Date. 

 

	14.	 No Rights as Employee, Director or Consultant.  

  

	 	14.1	 Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company or an Associated Company to terminate your Service, for any
reason, with or without cause. 

  

	 	14.2	 Nothing in this Agreement (including, but not limited to, vesting of the Option pursuant to the Vesting Schedule), the Plan or any covenant of good faith and
fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Associated Company; (ii) constitute any promise or commitment
by the Company or an Associated Company regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this
Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or the Plan; or (iv) deprive the Company or its Associated Companies, as applicable, of the right to terminate your Service without
regard to any future vesting or exercise opportunity that you may have under the Option. 

  

	 	14.3	 By accepting the Option, you acknowledge and agree that the right to continue vesting of the Option pursuant to the Vesting Schedule is earned only by
continuing in Service (not through the act of being hired, being granted the Option or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Associated
Companies at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and agree that such a reorganization could result in the termination of your Service, or the termination of Associated
Company status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination of the right to continue vesting of the Option. You further acknowledge and agree that this Agreement, the
Plan, the transactions contemplated hereunder and the Vesting Schedule or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued employment or engagement as
an employee or director of or consultant to the Company or any Associated Company for the duration of the Vesting Schedule, for any period, or at all, and shall not interfere in any way with your right or the right of the Company or any Associated
Company, as applicable, to terminate your Service at any time. 

  

	15.	 Discretionary Nature of Option. In accepting the Option, you acknowledge, understand and agree that: 

 

	 	15.1	 the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to
the extent permitted by the Plan; 

  

	 	15.2	 the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of Options or other Awards
under the Plan, or benefits in lieu of Awards, even if other Awards have been granted in the past; 

  

	 	15.3	 all decisions with respect to future Awards, if any, will be at the sole discretion of the Company; 

 

	 	15.4	 you are voluntarily participating in the Plan; 

  
 6 

	 	15.5	 the Option and any Shares acquired by you under the Plan are not intended to replace any pension rights or compensation; 

 

	 	15.6	 the Option and any Shares acquired under the Plan and the income and value of same are not part of normal or expected compensation or salary for purposes of
calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments or for any other purpose; 

 

	 	15.7	 the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty; 

 

	 	15.8	 no claim or entitlement to compensation or damages shall arise from lapse of the Option resulting from you ceasing to be employed by or provide other
services to the Company or any Associated Company (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and
in consideration of the grant of the Option to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any of its Associated Companies, waive your ability, if any, to bring any such claim, and
release the Company and its Associated Companies from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have
agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 

  

	 	15.9	 unless otherwise provided in the Plan or by the Company in its discretion, the Option and the benefits evidenced by this Agreement do not create any
entitlement to have the Option or any such benefits transferred to, or assumed by, another company or exchanged, cashed out, replaced or substituted for or otherwise continued or preserved or dealt with in any particular manner in connection with a
Corporate Transaction; and 

  

	 	15.10	 you acknowledge and agree that neither the Company nor any Associated Company shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Option and the Shares subject to it or the subsequent sale of any such Shares. 

  

	16.	 Option and Shares Subject to Company Clawback or Recoupment. The Option, and any Shares acquired upon exercise of the Option, shall be subject
to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Company or required by law during the term of your Service that is applicable to you, and in addition to any other remedies available under
Applicable Law, such policy may require the cancellation of the Option in full or in part (whether vested or unvested), a reduction in the number of Option Shares that will become exercisable/vest, and/or the recoupment of any economic benefit
already realized by you with respect to the Option or Shares acquired under it, if you engage or have engaged in activity that is inimical, contrary or harmful to the interests of the Company, as more fully described in such policy.

  

	17.	 Tax Consequences. You acknowledge that there may be tax consequences upon the grant, vesting and/or exercise of the Option or disposition of
the Shares acquired thereunder and you should consult a tax adviser regarding your tax obligations prior to such grant, vesting, exercise or disposition, in the jurisdiction(s) where you are subject to tax. 

 

	18.	 Payment of Taxes 

  

	 	18.1	 Regardless of any action the Company or your actual employer (the “Employer”) takes with respect to any or all income tax, national or
social insurance contributions, payroll tax, payment on account or other tax-related withholding (“Tax-Related  

  
 7 

	 	 
Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer
(1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired
pursuant to such exercise and the receipt of any dividends; and (2) do not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate your liability for Tax-Related Items. 

 

	 	18.2	 Prior to exercise of the Option, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and
payment on account obligations of the Company and/or the Employer. In this regard, with the Company’s consent, these arrangements may include (a) payment by you of an amount equal to the Tax-Related Items directly by cash, cheque, wire
transfer, bank draft or money order payable to the Company, (b) if permissible under Applicable Law, withholding an amount equal to Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company
and/or the Employer, (c) having the Company withhold payments for Tax-Related Items and any fees or charges payable by you in connection with such sale, from the proceeds of a Same-Day Sale, or (d) any other arrangement approved by the
Company. You agree to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of your participation in the Plan or the vesting or exercise of the Option that cannot
be satisfied by the means previously described. Finally, you acknowledge that the Company has no obligation to issue Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in this Section.

  

	 	18.3	 You hereby agree to indemnify and hold the Company, the Employer and each Associated Company of the Company harmless in respect of all Tax-Related Items.

  

	19.	 No Advice Regarding Option. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations
regarding your participation in the Plan, the exercise of the Option or the sale of Shares acquired under the Option. You are advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before
taking any action related to the Plan or the Option. 

  

	20.	 Consent to Electronic Delivery of All Plan Documents and Communications. Any notices provided for under this Agreement or the Plan shall be
given in writing (including electronically) and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, fourteen (14) days after posting from the United Kingdom by prepaid post, addressed to
you at the last address you provided to the Company. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and the Option by electronic means or request your
consent to participate in the Plan by electronic means. By accepting the Option you are consenting to receive such documents by electronic delivery and agreeing to participate in the Plan through an on-line or electronic system established and
maintained by the Company, Computershare or another third party designated by the Company. 

  

	21.	 Compliance with Laws and Regulations.  

  

	 	21.1	 Shares will not be issued to you upon exercise of the Option unless either (i) the Shares are registered under the Securities Act; or (ii) the
Company has determined that such issuance would be exempt from the registration requirements of the Securities Act. The issuance of Shares to you under the Option will also be subject to and conditioned upon compliance by the Company and you with
all other Applicable Law. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance of any Shares shall relieve the
Company of any liability in respect of the failure to issue such Shares as to which such requisite authority shall not have been obtained. The Company shall not be obliged to register

  
 8 

	 	 
the Shares with the SEC or to effect compliance with the registration, qualification or listing requirements of any securities laws, exchange control laws, stock exchange or automated quotation
system and the Company shall have no liability to you for any inability or failure to do so. 

  

	 	21.2	 As a condition to the issuance of any Shares pursuant to the Option, the Company may require you to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Company. Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if
any, determined by the Company. 

  

	22.	 Appendix. Notwithstanding any provision in this Agreement, the Option shall be subject to any special terms and conditions set forth in any
Appendix to this Agreement for your country. Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company determines that the application
of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement. 

  

	23.	 Necessary Amendments. Notwithstanding anything in the Plan to the contrary, the Company reserves the right to change, by written notice to you,
the provisions of this Agreement in any way it may deem necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

  

	24.	 Data Protection. 

  

	 	24.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the exclusive purpose of implementing,
administering and managing your participation in the Plan. 

  

	 	24.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of the Option and all other Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour,
details of any change in your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	 	24.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that a recipient’s country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that you may request a list with the names and
addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorise the Company, its designated Plan broker and Plan administrator and any other possible recipients which may assist the
Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic or other form, for the sole purpose of implementing, administering and
managing your participation in the Plan. 

  
 9 

	 	24.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal Data or refuse or withdraw the
consents herein, in any case without cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later
seek to revoke your consent, your employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not
be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain the Option and to
participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

 

	25.	 Entire Agreement; Enforcement of Rights.  

  

	 	25.1	 This Agreement, the Plan and the Notice constitute the entire agreement and understanding between you and the Company and its Associated Companies relating
to the subject matter herein and they supersede all prior discussions between you and the Company or any Associated Company regarding the subject matter. Any prior agreements, commitments or negotiations concerning the Option are superseded.

  

	 	25.2	 The provisions of this Agreement (and, in particular, Section 18) may also be enforced by the Employer and each Associated Company of the Company.

  

	26.	 Amendments. Subject to Section 23, no modification of or amendment to this Agreement nor any waiver of any rights under this Agreement,
shall be effective unless in writing (including electronically) and signed (or consented to by electronic means approved by the Company) by both you and the Company and, in the case of the Company, executed as a deed where so required. The failure
by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

  

	27.	 Further Assurance. You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of
the Company to carry out the purposes or intent of the Option. 

  

	28.	 Plan Prospectus and Insider Trading Policy. You hereby acknowledge receipt or the right to receive a document providing the information
required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s Insider Trading Policy permitting officers, directors and employees of the Company and
its Associated Companies to trade Shares only during certain “window” periods in effect from time to time. 

  

	29.	 Successors and Assigns. Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to the benefit
of, the executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Company. 

 

	30.	 Severability. If one or more provisions of this Agreement are held to be unenforceable under Applicable Law, you and the Company agree to
renegotiate such provision in good faith. In the event that a mutually agreeable and enforceable replacement for such provision cannot be agreed, then, to the maximum extent permitted by Applicable Law, (i) such provision shall be excluded from
this Agreement, (ii) the balance of this Agreement shall be interpreted as if such 

  
 10 

	 	 
provision were so excluded, and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. 

 

	31.	 Governing Law. This Agreement, the Plan, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the laws of England and Wales and the Courts of England and Wales shall have exclusive jurisdiction in relation to all matters arising under this Agreement and the Plan.

  

	32.	 Translations. If you have received this Agreement or any other document related to the Plan translated into a language other than English and
if the meaning of the translated version is different to the English version, the English version will control. 

  

	33.	 Headings. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this
Agreement or to affect the meaning of this Agreement. 

  

	34.	 Counterparts. The Notice may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile, and each of
which shall be deemed to be an original, but all of which together shall be deemed to be one and the same instrument. 

  

	35.	 Acknowledgement. The Company and you agree that the Option is granted under and governed by this Agreement and the Plan. You acknowledge that a
copy of the Plan has been made available to you on Kingfluence and you represent that you have carefully read and are familiar with its provisions. 

By accepting the Option, you shall be deemed to have agreed to the terms and conditions of the Share Option Terms (including any Appendix thereto), the
Notice and the Plan. 

  
 11 

 APPENDIX TO THE 

SHARE OPTION TERMS 

(GLOBAL) 
 TERMS AND
CONDITIONS 
 This Appendix contains additional terms and conditions that govern the Option granted under the Plan to you if you reside and/or
work in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the Terms. 

In the event of any conflict between the provisions of this Appendix and the Notice and/or the Terms, this Appendix shall prevail. 

If you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after the Option is granted, or
are considered a resident of another country for local law purposes, the information contained herein may not be applicable to you, and the Company shall, in its discretion, determine to what extent the terms and conditions contained herein shall
apply to you. 
 GENERAL 
 This Appendix
contains information of which you should be aware with respect to your participation in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of 1 May 2014. Such laws are
often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your participation in the Plan because the
information may be out of date at the time your Option is exercised or you sell Shares acquired pursuant thereto. 
 The information contained herein
is general in nature and may not apply to your particular situation, and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your
country may apply to your situation. 
 UNITED KINGDOM 

To the extent permitted by Applicable Law, the Company may at any time prior to the exercise of your Option determine that liability for all or some of
the employer’s National Insurance Contributions arising from the vesting or exercise of your Options (or from the acquisition of Shares pursuant thereto) shall be transferred to or borne by you (“Determination”). In the event
that the Company makes the Determination, you will be notified. You hereby agree that following such notification you will at any time upon request join in with the Company or any Associated Company or any other person in making any election or
notice reasonably required by the Company or such Associated Company or other person (as applicable) for the purpose of ensuring that the liability for all employer’s National Insurance Contributions (or any similar social security
contributions) arising as a consequence of the vesting or exercise of your Options (or the acquisition of Shares pursuant thereto) is assumed and borne solely by you and treated as a liability falling on you instead of on the Company or such
Associated Company or other person (as applicable) and in entering into any arrangements required by HM Revenue & Customs (“HMRC”) for securing that any liability so assumed is duly paid by you. You shall not be required to
enter into any election or notice pursuant to this paragraph in the event that you enter into such other arrangements with the Company, any Associated Company or any other person (as applicable) that are satisfactory to the Company, such Associated
Company or any other person (as applicable) to discharge any liability referred to in this paragraph. If the Company makes the Determination, you shall indemnify and keep indemnified the Company, your Employer and any Associated Company against all
employer’s National Insurance Contributions arising from the vesting or exercise of your Option (or the acquisition of Shares pursuant thereto) and to the extent permitted by Applicable Law and (save where you are liable to account for the same
directly to HMRC) such employer’s National Insurance Contributions shall be treated as a Tax-Related item for the purpose of Section 18 of the Terms. 

WF-8438274-8 

  
 12 

 KING DIGITAL ENTERTAINMENT PUBLIC
LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 
 NOTICE
OF RESTRICTED STOCK UNIT AWARD 
 (SENIOR
VICE PRESIDENT) 
 You (being the Participant named below) (“you”) have been granted a Restricted
Stock Unit Award (the “Award”) by King Digital Entertainment Public Limited Company (the “Company”) under its 2014 Equity Incentive Plan (the “Plan”) in respect of the number of Restricted Stock
Units (“RSUs”) set out below. The Award is granted subject to the terms and conditions of the Plan, this Notice of Restricted Stock Unit Award (the “Notice”) and the attached Restricted Stock Unit Award Terms (the
“Terms”), including any applicable country-specific provisions in the appendix attached thereto (if any) (the “Appendix”), (the Notice together with Terms (including the Appendix) being the
“Agreement”). 
 Unless otherwise defined in this Agreement, any capitalized terms used in this Agreement will have the
meaning given to them in the Plan. 
  

			
	 Participant Name:
		
[¿           
  ]

		
	 Total Number of RSUs:
		 «Number_of_RSUs_1»

		
	 Date of Grant:
		
[¿           
 ]

		
	 Vesting Commencement Date:
		
[¿           
 ]

		
	 Vesting Schedule:
		 Vesting of your RSUs will occur over the four-year period beginning on the Vesting Commencement Date specified above; twenty-five percent (25%) of the Total Number of
RSUs will vest on the first anniversary of the Vesting Commencement Date and the remaining seventy-five percent (75%) will vest in a series of twelve (12) equal quarterly instalments thereafter, each of 6.25% of the Total Number of
RSUs.

		
	 Settlement:
		 For each RSU which vests, one Share will be delivered to you in accordance with Section 3 of the Terms.

 You acknowledge that vesting of the RSUs pursuant to the Award is earned only by continuing in Service. You acknowledge
and agree that the vesting schedule described above may change prospectively in the event that your Service status changes, in accordance with Company policies relating to leave from work, work schedules and vesting of awards under the Plan, and the
provisions of the Plan. 
 You further acknowledge that the grant of the Award is at the Company’s sole discretion, and does not entitle you to
further grant(s) of Awards in respect of RSUs or any other award(s) under the Plan or any other plan or program maintained by the Company or any Associated Company or affiliate of the Company. 

You are required to pay the Company a nominal amount in consideration for the grant of your Award. That amount will be determined by the currency in
which your salary is paid and will be the appropriate one of the following: one pound sterling (£1); one U.S. dollar ($1); one Euro (€1) or ten Swedish Kroner (SEK10) or a single unit
of the relevant local currency. Unless otherwise determined by the Company, and notified to you, the appropriate amount will be deducted from payroll on the next practicable payroll date after the date on which you confirm acceptance of the Award,
and you hereby authorise that deduction. 
 You will not be required to make any payment to the Company with respect to the vesting of the RSUs or the
delivery of Shares in settlement of the RSUs; provided, however, that to the extent that any Shares delivered upon settlement of your Award are newly issued Shares, you must pay the Company the amount equal to the nominal value of such Shares
($0.00008 per Share) (the “Purchase Price”). You hereby irrevocably undertake to pay the Company the Purchase Price and you hereby authorise the 

  
 1 

 
Company or any Associated Company at their election to: (i) deduct the Purchase Price from your salary or other payment due to you from the Company or any Associated Company, on a date
determined by the Company or any Associated Company, prior to or after the vesting date of the relevant RSUs, or (ii) deduct the Purchase Price from the proceeds of a same-day sale described in Section 16.2 of the Terms. 

The Award shall not take effect unless you have confirmed your acceptance of it on the on-line or electronic system operated by Computershare by the
date indicated below. By doing so you will be accepting the Award on the terms and conditions set out in this Notice, the attached Terms (including any Appendix) and the Plan, and in consideration of the grant of the Award by the Company, you will
undertake the obligations given to you under this Notice, the Terms and the Plan. Also you will be consenting to the delivery to you of Plan documents, including any notices provided for in the Terms, this Notice or the Plan, by electronic delivery
and to participating in the Plan through an on-line or electronic system established and maintained by the Company, Computershare or another third party designated by the Company. 

 

			
	 SIGNED
 on behalf of
KING DIGITAL ENTERTAINMENT
 PUBLIC LIMITED
COMPANY
 by
                                         
       
		
                               
                                         
                    

	 its authorised signatory:
		   Authorised Signatory (Signature)

 IMPORTANT: YOU MUST ACCEPT THIS AWARD BY
¿

  
 2 

 KING DIGITAL ENTERTAINMENT PUBLIC
LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD TERMS 

(GLOBAL) 

Pursuant to your attached Notice of Restricted Stock Unit Award (the “Notice”) and these Restricted Stock Unit Award
Terms, including any country-specific Appendix, (together with the Notice, being the “Agreement”), King Digital Entertainment Public Limited Company (the “Company”) has granted you a Restricted Stock Unit Award (the
“Award”) under its 2014 Equity Incentive Plan (the “Plan”). The Award is granted to you effective as of the date of grant set forth in the Notice (the “Date of Grant”) although shall not take effect
unless you accept the Award on the on-line or electronic system operated by Computershare by the date indicated in the Notice. 

Except as otherwise explicitly provided in this Agreement, in the event of any conflict between the terms in this Agreement and the
Plan, the Plan shall take precedence. 
 Capitalized terms not explicitly defined in this Agreement but defined in the Plan shall have
the same definitions as in the Plan. This Agreement constitutes an Award Agreement for the purposes of the Plan. 
 The terms and
conditions of your Award, in addition to those set forth in the Notice and the Plan, are as follows. 
  

	1.	 Grant of the Award. The Award represents your right to receive on specified future dates, in accordance with the vesting schedule set out in
the Notice (the “Vesting Schedule”), the number of Shares that is equal to the number of RSUs that vest on each such date, upon payment to the Company of the Purchase Price (nominal value $0.00008 per Share) if the Shares to be
delivered to you, as determined by the Company, are to be newly issued Shares, or for no consideration payable by you if the Shares to be delivered to you are already issued Shares. 

 

	2.	 Vesting. The RSUs subject to your Award will vest, if at all, in accordance with the Vesting Schedule, provided that, subject to
Section 11, vesting of the RSUs will cease upon the termination of your Service. 

  

	3.	 Settlement.  

  

	 	3.1	 Settlement of vested RSUs shall be made on or as soon as practicable after the applicable date of vesting under the Vesting Schedule but in any event within
thirty (30) days after such date. Except as otherwise provided under the Plan, settlement of RSUs shall be in Shares. Settlement means the delivery to you of the number of Shares subject to a vested RSU. Where fractional rights arise, they
shall be credited to you and accumulated and carried forward to the last date on which RSUs vest. 

  

	 	3.2	 Notwithstanding the foregoing, in the event that (i) you are subject to the Insider Trading Policy (the “Policy”) or (ii) you are
otherwise prohibited from selling Shares in the open market, and any Shares covered by your Award are scheduled to be delivered on a day (the “Original Settlement Date”) that does not occur during an open “window period”
applicable to you or a day on which you are permitted to sell Shares pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act, as determined by the Company in accordance with the Policy, or does not occur on a
date when you are otherwise permitted to sell Shares in the open market, then the Company may determine that such Shares shall not be delivered on the Original Settlement Date and shall instead be delivered on the first U.S. business day of the next
occurring open “window period” applicable to you pursuant to the 

  
 3 

	 	 
Policy (regardless of whether you are still in Service at such time) or the next U.S. business day when you are not prohibited from selling Shares in the open market. 

 

	4.	 Shares/Electronic Delivery of Shares.  Shares delivered to you on settlement of your RSUs shall be previously authorised but unissued
Shares or issued Shares that have been reacquired by the Company or by an Employee Benefit Trust. Upon issuance, Shares shall be fully paid and nonassessable. Delivery of Shares to you shall be effected by crediting the depositary nominated by the
Company, Depositary Trust Company (or its nominee), with the number of Shares due to you, to be held by it in electronic form on your behalf as beneficial owner. 

 

	5.	 No Shareholder Rights.  Unless and until such time as Shares are delivered to you in settlement of vested RSUs, you, or any person
claiming under or through you, shall have no ownership of the Shares subject to the RSUs and shall have no right to dividends in respect of or to vote such Shares. 

 

	6.	 Dividend Equivalents. Dividend Equivalents shall not be credited to you in respect of the RSUs subject to the Award. 

 

	7.	 Number of RSUs and Shares. 

  

	 	7.1	 The number of RSUs subject to your Award may be adjusted from time to time for variations in the Company’s share capital, as provided in the Plan.

  

	 	7.2	 Any additional RSUs that become subject to the Award pursuant to this Section 7 shall be subject, in a manner determined by the Company, to the same
terms and conditions and time and manner of vesting and settlement as applicable to the RSUs in respect of which such additional RSUs are issued. 

  

	8.	 Unsecured Obligation. The Award is unfunded, and as a holder of vested RSUs you shall be considered an unsecured creditor of the Company
with respect to the Company’s obligation, if any, to deliver Shares pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a
fiduciary relationship between you and the Company or any other person. 

  

	9.	 No Transfer. The Award and the RSUs are not transferable and may not be sold, pledged, assigned, hypothecated, transferred or otherwise
disposed of by you in any manner other than by will or by the laws of descent or distribution or unless otherwise permitted by the Company on a case-by-case basis in accordance with the Plan. The Award and the RSUs shall lapse to the extent you
purport to so sell, pledge, assign, hypothecate, transfer or otherwise dispose of them. After the Shares have been delivered to you, you are free to sell, pledge, assign, hypothecate, donate, encumber or otherwise dispose of any interest in such
Shares, provided that any such action is in compliance with the provisions herein (including the country-specific Appendix hereto) and Applicable Law. 

  

	10.	 Termination of Service. Subject to Section 11, if your Service terminates for any reason, the Award, to the extent not vested, shall lapse
and all unvested RSUs shall be forfeited to the Company forthwith, and all rights you have to such RSUs shall immediately terminate, without payment of any consideration to you. Your Service will be considered terminated as of the date you cease to
be an Employee, Consultant, Director or Non-Employee Director of the Company or an Associated Company (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction
where you are employed or the terms of your Service Agreement, if any) and, subject to Applicable Law, your Service will not be extended by any notice period or garden leave period mandated by Applicable Law or any period during which you have
ceased to provide services to the Company or an Associated Company but during which the Company or an Associated Company is legally required to continue to employ you. In case of any dispute as to whether your termination of Service has occurred,
the Committee shall have sole discretion to determine whether such termination has occurred and the effective date of such termination. 

  
 4 

	11.	 Change of Control Termination. 

  

	 	11.1	 In the event of a Change of Control Termination, the Award (as assumed, exchanged, substituted, replaced or converted, if applicable) shall automatically
accelerate with respect to fifty percent (50%) of the RSUs (if any), or the shares or other securities for or by which the RSUs have been exchanged, substituted or replaced or converted to, that are unvested as of that date in accordance with
the Vesting Schedule. 

  

	 	11.2	 For purposes of this Section 11; 

  

	 	11.2.1	 “Change of Control Period”, means a period that commences on the date that falls three months prior to the date of exchange of contracts in
relation to an applicable Corporate Transaction and terminates on the date that falls 12 months immediately after the completion of an applicable Corporate Transaction; 

 

	 	11.2.2	 “Change of Control Termination”, means the termination of your employment with the Company or an Associated Company or any successor thereto
(the “Employer”) during a Change of Control Period where: 

  

	 	(a)	 the Employer serves notice to terminate your employment, save where it is entitled summarily to terminate your employment without notice or payment in lieu
of notice under the Service Agreement; or 

  

	 	(b)	 you terminate your employment with the Employer with or without notice for Good Reason (other than in circumstances where the Employer has reasonable grounds
for summary dismissal without notice or payment in lieu of notice under the Service Agreement) provided that you must, before you terminate your employment for Good Reason, and if (on a reasonable view) the circumstances that constitute Good Reason
are remediable, have first given the Employer a written notice stating clearly the event or circumstance that constitutes Good Reason in your belief, acting in good faith, and given the Employer a period of not less than 15 working days to cure the
event or circumstance allegedly constituting Good Reason and no Good Reason shall exist if on a reasonable view the event or circumstance is cured by the Employer; 

 

	 	11.2.3	 “Good Reason”, means grounds that entitle you to treat yourself as being constructively dismissed (within the meaning of section 95(1)(c) of
the Employment Rights Act 1996) as may be determined by a court of competent jurisdiction. Examples of such grounds may include, but are not limited to, circumstances where you are required to permanently relocate outside of Greater London, where
your pay is unilaterally reduced, where the Employer is in breach of the Service Agreement, or where on a Corporate Transaction the acquiring entity did not give you options, compensation or equity of at least the same value as the value of any
shares under option or award (net of exercise or purchase price) held by you which are no longer capable of vesting or being exercised after such Corporate Transaction; and 

 

	 	11.2.4	 “Service Agreement” means any unexpired service agreement between you and the Company or any Associated Company in effect from time to time.

  

	12.	 No Rights as Employee, Director or Consultant. 

  

	 	12.1	 Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company or an Associated Company to terminate your Service, for any
reason, with or without cause. 

  
 5 

	 	12.2	 Nothing in this Agreement (including, but not limited to, the vesting of RSUs pursuant to the Vesting Schedule or the delivery of Shares in respect of the
Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Associated
Company; (ii) constitute any promise or commitment by the Company or an Associated Company regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or
affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or the Plan; or (iv) deprive the Company or its Associated Companies,
as applicable, of the right to terminate your Service without regard to any future vesting opportunity that you may have under this Award. 

  

	 	12.3	 By accepting this Award, you acknowledge and agree that the right to continue vesting in the Award pursuant to the Vesting Schedule is earned only by
continuing in Service (not through the act of being hired, being granted this Award or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Associated
Companies at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and agree that such a reorganization could result in the termination of your Service, or the termination of Associated
Company status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination of the right to continue vesting in RSUs under the Award. You further acknowledge and agree that this
Agreement, the Plan, the transactions contemplated hereunder and the Vesting Schedule or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued employment or
engagement as an employee or director of or consultant to the Company or any Associated Company for the duration of the Vesting Schedule, for any period, or at all, and shall not interfere in any way with your right or the right of the Company or
any Associated Company, as applicable, to terminate your Service at any time. 

  

	13.	 Discretionary Nature of Award. In accepting the Award, you acknowledge, understand and agree that: 

 

	 	13.1	 the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to
the extent permitted by the Plan; 

  

	 	13.2	 the grant of the Award is voluntary and occasional and does not create any contractual or other right to receive future grants of Awards in respect of RSUs
or other Awards under the Plan, or benefits in lieu of Awards, even if Awards have been granted in the past; 

  

	 	13.3	 all decisions with respect to future Awards of RSUs or other Awards, if any, will be at the sole discretion of the Company; 

 

	 	13.4	 you are voluntarily participating in the Plan; 

  

	 	13.5	 the Award and any Shares acquired by you under the Plan are not intended to replace any pension rights or compensation; 

 

	 	13.6	 the Award and any Shares acquired under the Plan and the income and value of same are not part of normal or expected compensation or salary for purposes of
calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments or for any other purpose; 

  
 6 

	 	13.7	 the future value of the Shares underlying the Award is unknown, indeterminable, and cannot be predicted with certainty; 

 

	 	13.8	 no claim or entitlement to compensation or damages shall arise from lapse of the Award or forfeiture of the RSUs resulting from you ceasing to be employed by
or provide other services to the Company or any Associated Company (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your Service
Agreement, if any), and in consideration of the grant of the Award to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any of its Associated Companies, waive your ability, if any, to
bring any such claim, and release the Company and its Associated Companies from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be
deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 

 

	 	13.9	 unless otherwise provided in the Plan or by the Company in its discretion, the Award, the RSUs and the benefits evidenced by this Agreement do not create any
entitlement to have the Award or the RSUs or any such benefits transferred to, or assumed by, another company or exchanged, cashed out, replaced or substituted for or otherwise continued or preserved or dealt with in any particular manner in
connection with a Corporate Transaction; and 

  

	 	13.10	 you acknowledge and agree that neither the Company nor any Associated Company shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Award and the RSUs or of any amounts due to you pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired upon settlement. 

 

	14.	 Award Subject to Company Clawback or Recoupment.  The Award shall be subject to clawback or recoupment pursuant to any compensation
clawback or recoupment policy adopted by the Company or required by law during the term of your service that is applicable to you, and in addition to any other remedies available under Applicable Law, such policy may require the cancellation of your
Award in full or in part (whether vested or unvested), a reduction in the number of RSUs that will vest, and/or the recoupment of any economic benefit already realized by you with respect to the Award or Shares delivered under it, if you engage or
have engaged in activity that is inimical, contrary or harmful to the interests of the Company, as more fully described in such policy.  

  

	15.	 Tax Consequences.  You acknowledge that there may be tax consequences upon the grant of the Award, vesting and/or settlement of the
RSUs or disposition of the Shares, if any, received in connection therewith, and you should consult a tax adviser regarding your tax obligations prior to such grant, vesting or settlement or disposition, in the jurisdiction(s) where you are subject
to tax. 

  

	16.	 Payment of Taxes. 

  

	 	16.1	 Regardless of any action the Company or the Employer takes with respect to any or all income tax, national or social insurance contributions, payroll tax,
payment on account or other tax-related withholding or required deductions (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that
the Company and/or the Employer and/or the Employee Benefit Trust (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the settlement of the RSUs, the
subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends; and (2) do not commit to structure the terms of the Award or any aspect of the RSUs to reduce or eliminate your liability for Tax-Related Items.
You acknowledge that if you are subject to Tax-

  
 7 

	 	

	 	 Related Items in more than one jurisdiction, the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one
jurisdiction. 

  

	 	16.2	 Upon settlement of your RSUs, payment of all Tax-Related Items shall be discharged by the deduction of the amount required to satisfy such Tax-Related Items
from the proceeds of the immediate sale of such portion of the Shares delivered to you on settlement of your RSUs as is sufficient to discharge the Tax-Related Items, as determined by the Company, and any fees or charges payable by you in connection
with such sale, through a mandatory sale arranged by the Company on your behalf by a Company-designated broker (a “Mandatory Same-Day Sale”). You shall pay to the Company or the Employer or the Employee Benefit Trust any amount of
Tax-Related Items that the Company or the Employer or the Employee Benefit Trust may be required to withhold as a result of your participation in the Plan or your receipt of Shares that is not satisfied by a Mandatory Same-Day Sale, in such manner
as may be permitted under the Plan and approved by the Company. Finally, you acknowledge that the Company has no obligation to deliver Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in
this Section. 

  

	 	16.3	 You hereby agree to indemnify and hold the Company, the Employer, the Employee Benefit Trust and each Associated Company of the Company harmless in respect
of all Tax-Related Items. 

  

	17.	 No Advice Regarding Award.  The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding your participation in the Plan, or your acquisition or sale of Shares under the Award. You are advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before
taking any action related to the Plan or the Award. 

  

	18.	 Consent to Electronic Delivery of All Plan Documents and Communications.  Any notices provided for under this Agreement or the Plan
shall be given in writing (including electronically) and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, fourteen (14) days after posting from the United Kingdom by prepaid post,
addressed to you at the last address you provided to the Company. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or
request your consent to participate in the Plan by electronic means. By accepting this Award you are consenting to receive such documents by electronic delivery and agreeing to participate in the Plan through an on-line or electronic system
established and maintained by the Company, Computershare or another third party designated by the Company. 

  

	19.	 Compliance with Laws and Regulations.  

  

	 	19.1	 Shares will not be delivered to you in respect of the Award unless either (i) the Shares are registered under the Securities Act; or (ii) the
Company has determined that such issuance or delivery would be exempt from the registration requirements of the Securities Act. The delivery of Shares to you under the Award will also be subject to and conditioned upon compliance by the Company and
you with all other Applicable Law. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance or transfer or sale of
any Shares shall relieve the Company of any liability in respect of the failure to issue or transfer or sell such Shares as to which such requisite authority shall not have been obtained. The Company shall not be obliged to register the Shares with
the SEC or to effect compliance with the registration, qualification or listing requirements of any securities laws, exchange control laws, stock exchange or automated quotation system and the Company shall have no liability to you for any inability
or failure to do so. 

  
 8 

	 	19.2	 As a condition to the delivery of any Shares pursuant to this Award, the Company may require you to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Company. Shares delivered pursuant to this Agreement shall be endorsed with appropriate legends,
if any, determined by the Company. 

  

	20.	 Appendix. Notwithstanding any provision in this Agreement, the Award shall be subject to any special terms and conditions set forth in any
Appendix to this Agreement for your country. Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company determines that the application
of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement. 

  

	21.	 Necessary Amendments. Notwithstanding anything in the Plan to the contrary, the Company reserves the right to change, by written notice to you,
the provisions of this Agreement in any way it may deem necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

  

	22.	 Data Protection. 

  

	 	22.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, the trustees of any Employee Benefit Trust, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the
exclusive purpose of implementing, administering and managing your participation in the Plan. 

  

	 	22.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of all Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour, details of any change in
your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	 	22.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that a recipient’s country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that you may request a list with the names and
addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorize the Company, its designated Plan broker and Plan administrator and any other possible recipients which may assist the
Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic or other form, for the sole purpose of implementing, administering and
managing your participation in the Plan. 

  

	 	22.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, view your Personal Data, request additional information 

  
 9 

	 	 
about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal Data or refuse or withdraw the consents herein, in any case without
cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your
employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Awards under
the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain your Award and to participate in the Plan. For more
information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

 

	23.	 Entire Agreement; Enforcement of Rights. 

  

	 	23.1	 This Agreement and the Plan constitute the entire agreement and understanding between you and the Company and its Associated Companies relating to the
subject matter herein and they supersede all prior discussions between you and the Company or any Associated Company regarding the subject matter. Any prior agreements, commitments or negotiations concerning the Award are superseded.

  

	 	23.2	 The provisions of this Agreement (and, in particular, Section 16) may also be enforced by the Employer, the Employee Benefit Trust (and its trustee) and
each Associated Company of the Company. 

  

	24.	 Amendments. Subject to Section 21, no modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement,
shall be effective unless in writing (including electronically) and signed (or consented to by electronic means approved by the Company) by both you and the Company and, in the case of the Company, executed as a deed where so required. The failure
by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

  

	25.	 Further Assurance. You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of
the Company to carry out the purposes or intent of the Award. 

  

	26.	 Plan Prospectus and Insider Trading Policy. You hereby acknowledge receipt or the right to receive a document providing the information
required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s Insider Trading Policy permitting officers, directors and employees of the Company and
its Associated Companies to trade Shares only during certain “window” periods, in effect from time to time. 

  

	27.	 Successors and Assigns. Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to the benefit
of, the executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Company. 

 

	28.	 Severability. If one or more provisions of this Agreement are held to be unenforceable under Applicable Law, you and the Company agree to
renegotiate such provision in good faith. In the event that a mutually agreeable and enforceable replacement for such provision cannot be agreed, then, to the maximum extent permitted by Applicable Law, (i) such provision shall be excluded from
this Agreement, (ii) the balance of this Agreement shall be interpreted as if such 

  
 10 

	 	 
provision were so excluded, and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. 

 

	29.	 Governing Law. This Agreement and the Plan, and all acts and transactions pursuant hereto and the rights and obligations of the
parties hereto shall be governed, construed and interpreted in accordance with the laws of England and Wales and the Courts of England and Wales shall have exclusive jurisdiction in relation to all matters arising under this Agreement and the Plan.

  

	30.	 Translations. If you have received this Agreement or any other document related to the Plan translated into a language other than English and
if the meaning of the translated version is different to the English version, the English version will control. 

  

	31.	 Headings. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this
Agreement or to affect the meaning of this Agreement. 

  

	32.	 Counterparts.  The Notice may be executed in any number of counterparts, any of which may be executed and transmitted by facsimile,
and each of which shall be deemed to be an original, but all of which together shall be deemed to be one and the same instrument. 

Acknowledgement.  The Company and you agree that the Award is granted under and governed by this Agreement and the Plan. You
acknowledge that a copy of the Plan has been made available to you on Kingfluence and you represent that you have carefully read and are familiar with its provisions. 

By accepting the Award, you shall be deemed to have agreed to the terms and conditions of the Restricted Stock Unit Award Terms (including any Appendix
thereto), the Notice and the Plan. 

  
 11 

 Appendix 

to the 
 Restricted Stock Unit Award Terms

 (Senior Vice President) 
 TERMS AND
CONDITIONS 
 This Appendix contains additional terms and conditions that govern the Award granted under the Plan to you if you reside and/or work
in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the Notice and/or the Terms. 

In the event of any conflict between the provisions of this Appendix and the Notice and/or the Terms, this Appendix shall prevail. 

If you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after the Award is granted, or
are considered a resident of another country for local law purposes, the information contained herein may not be applicable to you, and the Company shall, in its discretion, determine to what extent the terms and conditions contained herein shall
apply to you. 
 GENERAL 
 This Appendix
contains information of which you should be aware with respect to your participation in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of 1 March 2014. Such laws
are often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your participation in the Plan because the
information may be out of date at the time your RSUs vest or you sell Shares acquired pursuant thereto. 
 The information contained herein is general
in nature and may not apply to your particular situation, and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may
apply to your situation. 
 GERMANY 
  

	1.	 Notification to Bundesbank under art. 67 Export Control Ordinance (Außenwirtschaftsverordnung, AWV): You will have an obligation to notify the
Bundesbank of payments made to you under the Plan from a foreign entity if they exceed €12,500 and are not made through a German bank. Any such notification is entirely your responsibility.

  

	2.	 The following additional provision shall form part of Section 16 of the Terms: 

“16.4     The Company shall upon settlement of your RSUs disclose such settlement, the number of Shares
delivered, the Purchase Price per Share and the market value of the Shares at the time of the settlement to your Employer. The Employer shall have a claim of its own against the Company in respect of such information.” 

 

	3.	 The human resources representative to be contacted with regard to your Personal Data, in accordance with Section 22.4 of the Terms, shall be the
responsible human resources representative of the Company. 

  
 12 

 KOREA 

Your Award is subject to the Plan, the Sub-Plan Governing Awards to Participants in the Republic of Korea and to the following specific conditions. 

 

	1.	 To the extent that the Agreement provides for any amount payable by you in respect of or in connection with the Award to be deducted from your salary, such
deduction shall only be permitted to the extent permitted by Applicable Law and, in particular, the Labor Standards Act of Korea, and you hereby agree that in the event that such deduction is not so permitted, you shall pay any such amount due
directly to the Company or by another means approved by the Company and permitted under Applicable Law. 

  

	2.	 If, under Applicable Law, you must file a report with or receive the approval of the Governor of the Bank of Korea or other supervisory agencies
(“Approvals”) in order to receive the Award, or acquire the Shares upon vesting of your RSUs, then your obtainment of such Approvals shall be a condition precedent to your right to receive the Award and to acquire the Shares upon
vesting of the RSUs. If, for any reason, you fail to obtain such Approval, then the Company shall bear no obligation whatsoever to you regarding the Award, the RSUs or the Shares subject thereto. 

 

	3.	 An Associated Company incorporated in Korea shall, in collecting, retaining, using, processing, transferring and disclosing to others your Personal Data,
comply with the provisions of the Personal Information Protection Act. Section 22 shall apply to such collection, retention, use, processing, transfer and disclosure to the maximum extent permitted by the Personal Information Act.

 MALTA 
 To the extent
that the Agreement provides for any amount payable by you in respect of or in connection with the Award to be deducted from your salary, you hereby agree that in lieu of such deductions, the Company may instead reduce your salary by the amount equal
to such deductions. 
 ROMANIA 
 Your Award
is subject to the Plan, the Sub-Plan Governing Awards to Participants in Romania and the following specific conditions: 
  

	1.	 Section 22.4 of the Terms shall be amended and replaced by the following: 

 

	  	 “You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan.
You understand that you may, at any time, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal Data, not be subject to an
individual decision based on automatic processing, address to the supervisory authority or to a court of law, refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative.
Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or service and career with the Company or its Associated
Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain
such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain your Award and to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of
consent, you understand that you may contact your local human resources representative.” 

  
 13 

 SPAIN 
 The
following provisions shall replace Section 22 of the Terms: 
  

	“22.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, the trustees of any Employee Benefit Trust, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the
exclusive purpose of implementing, administering and managing your participation in the Plan. 

  

	22.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of all Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour, details of any change in
your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	22.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, for assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that some recipients’ countries (for example the United States) may apply data protection standards which are not equivalent to the ones applied within the European Union. You understand that
you may request a list with the names and addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorize the Company, its designated Plan broker and Plan administrator and any other
possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic or other form, for the sole purpose
of implementing, administering and managing your participation in the Plan. 

  

	22.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, execute your access, rectification, cancellation and objection rights on data, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any
necessary amendments to or deletions from your Personal Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the
consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only
adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that
refusing or withdrawing your consent may affect your ability to retain your Award and to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your
local human resources representative.” 

  
 14 

 UNITED KINGDOM 

To the extent permitted by Applicable Law, the Company may at any time prior to the vesting of RSUs under your Award determine that liability for all or
some of the employer’s National Insurance Contributions arising therefrom (or from the acquisition of Shares pursuant thereto) shall be transferred to or borne by you (“Determination”). In the event that the Company makes the
Determination, you will be notified. You hereby agree that following such notification you will at any time upon request join in with the Company or any Associated Company or any other person in making any election or notice reasonably required by
the Company or such Associated Company or other person (as applicable) for the purpose of ensuring that the liability for all employer’s National Insurance Contributions (or any similar social security contributions) arising as a consequence of
the vesting of your RSUs (or the acquisition of Shares pursuant thereto) is assumed and borne solely by you and treated as a liability falling on you instead of on the Company or such Associated Company or other person (as applicable) and in
entering into any arrangements required by HM Revenue & Customs (“HMRC”) for securing that any liability so assumed is duly paid by you. You shall not be required to enter into any election or notice pursuant to this
paragraph in the event that you enter into such other arrangements with the Company, any Associated Company or any other person (as applicable) that are satisfactory to the Company, such Associated Company or any other person (as applicable) to
discharge any liability referred to in this paragraph. If the Company makes the Determination, you shall indemnify and keep indemnified the Company, your Employer and any Associated Company against all employer’s National Insurance
Contributions arising from the vesting of RSUs under your Award (or the acquisition of Shares pursuant thereto) and to the extent permitted by Applicable Law and (save where you are liable to account for the same directly to HMRC) such
employer’s National Insurance Contributions shall be treated as a Tax-Related item for the purpose of Section 16. 
 WF-11065094-1 

  
 15 

 KING DIGITAL ENTERTAINMENT PUBLIC LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

NOTICE OF SHARE OPTION GRANT 

(SENIOR VICE PRESIDENT) 

You (being the Participant named below) (“you”) have been granted an option (the “Option”) by King Digital
Entertainment Public Limited Company (the “Company”) under its 2014 Equity Incentive Plan (the “Plan”) to subscribe for the number of Shares set out below (the “Option Shares”). The Option is
granted subject to the terms and conditions of the Plan, this Notice of Share Option Grant (the “Notice”) and the attached Share Option Terms (the “Terms”), including any applicable country-specific provisions in
the appendix attached thereto (if any) (the “Appendix”), (the Notice together with Terms (including the Appendix) being the “Agreement”). 

Unless otherwise defined in this Agreement, any capitalized terms used in this Agreement will have the meaning given to them in the Plan. 

 

					
	 Participant Name:
		  
		
			
	 Option Shares (Number):
		  
		
		
	 Date of Grant:
		  

		
	 Exercise Price per Option Share:
		  

		
	 Expiration Date:
		                  , 20     (the
“Expiration Date”). The Option will expire before the Expiration Date if your Service terminates, as described in the Terms, and may expire earlier in other circumstances in accordance with the Terms and the Plan.

		
	 Vesting Commencement Date:
		  

		
	 Vesting Schedule:
		 The Option will become exercisable in instalments over the period of 48 months measured from the Vesting Commencement Date; the Option will become
exercisable with respect to twenty-five percent (25%) of the total number of Option Shares on the date 12 months after the Vesting Commencement Date and with respect to the remaining seventy-five percent (75%) in a series of 12 equal quarterly
instalments over the 36-month period thereafter.

 You acknowledge that vesting of the Option is earned only by continuing in Service. You acknowledge and agree that
the vesting schedule described above may change prospectively in the event that your Service status changes, in accordance with Company policies relating to leave from work, work schedules and vesting of Options under the Plan, and the provisions of
the Plan.
 You further acknowledge that the grant of the Option is at the Company’s sole discretion, and does not entitle you to further
grant(s) of Options or other Award(s) under the Plan or awards under any other plan or program maintained by the Company or any Associated Company or affiliate of the Company. 

You are required to pay the Company a nominal amount in consideration for the grant of your Option. That amount will be determined by the currency
in which your salary is paid and will be the appropriate one of the following: one pound sterling (£1); one U.S. dollar ($1); one Euro (€1) or ten Swedish Kroner (SEK10) or a
single unit of the relevant local currency. Unless otherwise determined by the Company, and notified to you, the appropriate amount will be deducted from payroll on the next practicable payroll date after the date on which you confirm your
acceptance of the Option, and you hereby authorise that deduction. 
 The Option shall not take effect unless you have confirmed your acceptance of it
on the on-line or electronic system operated by Computershare by the date indicated below. By doing so you will be accepting the Option on the terms and conditions set out in this Notice, the attached Terms (including any

  
 1 

 
Appendix) and the Plan, and in consideration of the grant of the Option by the Company, you will undertake the obligations given to you under this Notice, the Terms and the Plan. 

Also, you will be consenting to the delivery to you of Plan documents, including any notices provided for in the Terms, this Notice or the Plan, by
electronic delivery and to participating in the Plan through an on-line or electronic system established and maintained by the Company, Computershare or another third party designated by the Company. 

 

			
	 SIGNED
 on behalf of
KING DIGITAL ENTERTAINMENT
 PUBLIC LIMITED
COMPANY
 by
                                         
               
		
	 its authorised signatory:
  
		  

			   Authorised Signatory (Signature)

 IMPORTANT: YOU MUST ACCEPT THIS OPTION BY
¿ 

  
 2 

 KING DIGITAL ENTERTAINMENT PUBLIC LIMITED COMPANY 2014 EQUITY INCENTIVE PLAN 

SHARE OPTION TERMS 

(SENIOR VICE PRESIDENT) 

Pursuant to the attached Notice of Share Option Grant (the “Notice”) and these Share Option Terms (the
“Terms”), (including any applicable country-specific provisions in the Appendix attached hereto (if any)), King Digital Entertainment Public Limited Company (the “Company”) has granted you an option under its 2014
Equity Incentive Plan (the “Plan”) to subscribe for up to the number of Shares specified in the Notice (the “Option”). The Option is granted to you effective as of the date of grant specified in the Notice (the
“Date of Grant”) although shall not take effect unless you accept the Award on the on-line or electronic system operated by Computershare by the date indicated in the Notice. 

Except as otherwise explicitly provided in this Agreement, in the event of any conflict between the terms in this Agreement and the
Plan, the Plan shall take precedence. 
 Capitalized terms not explicitly defined in the Notice or this Agreement but defined in the
Plan shall have the same definitions as in the Plan. This Agreement constitutes an Award Agreement for the purposes of the Plan. 

The terms and conditions of your Option, in addition to those set forth in the Notice and the Plan, are as follows. 

 

	1.	 Grant of Option.    The Option comprises your right to subscribe for the Option Shares at the exercise price per Option
Share set forth in the Notice (the “Exercise Price”). 

  

	2.	 Exercisability/Vesting of Option.    Subject to Section 12.6, the Option shall become exercisable for the Option
Shares in accordance with the Vesting Schedule. 

  

	3.	 Exercise of Option. 

  

	 	3.1	 Right to Exercise.    The Option, to the extent exercisable in accordance with the Vesting Schedule and the
applicable provisions of the Plan and this Agreement, may be exercised in full or in part at any time. The Option may not be exercised for a fraction of an Option Share. 

 

	 	3.2	 Taxes.    You will not be allowed to exercise the Option unless you make arrangements acceptable to the Company to
pay any taxes, social insurance contributions and other required deductions that may be due as a result of the Option exercise. 

  

	 	3.3	 Method of Exercise. 

  

	 	3.3.1	 The Option may be exercised by delivery of a notice of exercise in a form specified by the Company (the “Notice of Exercise”), which shall
state your election to exercise the Option, the number of Option Shares in respect of which the Option is being exercised (the “Exercised Shares”), and contain such other representations and agreements as may be required by the
Company pursuant to the provisions of the Plan. The Notice of Exercise shall be delivered in such form as shall be notified to you from time to time by or on behalf of the Company, which may include delivery in person, by mail, via electronic mail
or facsimile or by other authorised method to the Secretary of the Company or other person designated by the Company. The Notice of Exercise shall be accompanied by payment of the aggregate Exercise Price for the Exercised Shares. The Option shall
be deemed to be exercised upon receipt by the Company of a fully executed Notice of Exercise accompanied by the aggregate Exercise Price payable and payment in full for any Tax-Related Items due upon exercise of the Option (as described in
Section 18 below). 

  
 3 

	 	3.3.2	 The Option may also be exercised pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act. 

 

	 	3.4	 Exercise by Another.    If another person elects to exercise the Option after it has been transferred
to him or her in compliance with this Agreement and the Plan, that person must prove to the Company’s satisfaction that he or she is entitled to exercise the Option. That person must also complete a Notice of Exercise and pay the Exercise Price
and any Tax-Related Items due upon exercise of the Option (as described in Section 18 below). 

  

	4.	 Method of Payment of Exercise Price.    Payment of the aggregate Exercise Price for the Exercised Shares shall be by one of
the following, or a combination thereof: 

  

	 	4.1	 cashless exercise through irrevocable directions to a securities broker approved by the Company to sell all or part of the Exercised Shares and to deliver to
the Company from the sale proceeds an amount sufficient to pay the aggregate Exercise Price of the Exercised Shares, and any Tax-Related Items due upon exercise of the Option (as described in Section 18 below) (a “Same-Day
Sale”). The balance of the sale proceeds, if any, will be delivered to you. The directions must be given by electronic or other means permitted by the Company; or 

 

	 	4.2	 other method authorised by the Company. 

  

	5.	 Insider Trading Policy.    The exercise of the Option and all transactions in the Shares issuable upon exercise of the
Option shall be subject to the Company’s then current Insider Trading Policy. 

  

	6.	 No Exercise during Disciplinary Procedure.    If you are subject to an investigation or disciplinary process which in the
Committee’s opinion could result in a termination of your Service for Cause the Committee may, in its sole discretion, determine that no exercise of the Option will be permitted while such investigation or process is in progress.

  

	7.	 Shares/Electronic Delivery of Shares.    The Shares issued to you on exercise of your Option shall be newly issued Shares.
Upon issuance, the Shares shall be fully paid and non-assessable. Delivery of Shares to you shall be effected by crediting the depositary nominated by the Company, Depositary Trust Company (or its nominee), with the number of Shares due to you, to
be held by it in electronic form on your behalf as beneficial owner. 

  

	8.	 No Shareholder Rights.    Unless and until such time as Shares are issued to you upon exercise of the Option, you, or any
person claiming under or through you, shall have no ownership of the Shares subject to the Option and shall have no right to dividends in respect of or to vote the Option Shares. 

 

	9.	 Dividend Equivalents.    Dividend Equivalents shall not be credited to you in respect of the Option Shares.

  

	10.	 Variation of Option Shares.    The Option Shares and the Exercise Price may be adjusted from time to time for variations in
the Company’s share capital, as provided in the Plan. 

  

	11.	 No Transfer. The Option is not transferable and may not be sold, pledged, assigned, hypothecated, transferred or otherwise disposed of by you
in any manner other than by will or by the laws of descent or distribution or unless otherwise permitted by the Company on a case-by-case basis in accordance with the Plan. The Option shall lapse to the extent you purport to so sell, pledge, assign,
hypothecate, transfer or otherwise dispose of it. After the Shares have been issued to you, upon exercise of the Option, you are free to sell, pledge, assign, hypothecate, donate, encumber or otherwise dispose of any interest in such Shares,
provided that any such action is in compliance with the provisions of this Agreement, (including the country-specific Appendix hereto), the Plan and Applicable Law. 

  
 4 

	12.	 Termination of Service 

  

	 	12.1	 Unvested Option Shares.    Subject to Section 12.6, if your Service terminates for any reason, the Option will lapse on the
date of termination of your Service with respect to the number of Option Shares for which it is not yet exercisable as of that date in accordance with the Vesting Schedule. 

 

	 	12.2	 Vested Option Shares – General Rule.    If your Service terminates for any reason except death, retirement in accordance with
your Service Agreement or Disability, then, to the extent the Option is exercisable in accordance with the Vesting Schedule (subject to Section 12.6) as of the date of termination of your Service, it may be exercised within the period of three
(3) months after such date. To the extent not so exercised, the Option shall lapse at the close of business at Company headquarters on the date three (3) months after the date your Service terminates. 

 

	 	12.3	 Vested Option Shares – Death.    If your Service terminates by reason of your death, or if you die within three
(3) months after your Service terminates (other than for Cause or due to Disability or retirement), then, to the extent the Option is exercisable in accordance with the Vesting Schedule as of the date of termination of your Service, it may be
exercised within the period of 12 months after such date by your estate or the person who acquired the right to exercise the Option by bequest or inheritance. To the extent not so exercised, the Option shall lapse at the close of business at Company
headquarters on the date 12 months after the date your Service terminates. 

  

	 	12.4	 Vested Option Shares – Disability or Retirement.    If your Service terminates because of your Disability or
retirement in accordance with your Service Agreement, then to the extent the Option is exercisable in accordance with the Vesting Schedule as of the date of termination of your Service, it may be exercised within the period of 12 months after such
date. To the extent not so exercised, the Option shall lapse at the close of business at Company headquarters on the date 12 months after the date your Service terminates. 

 

	 	12.5	 Termination for Cause.    If your Service is terminated for Cause, the Option shall lapse in its entirety on the date of
termination of your Service or, if earlier, the service of notice of such termination. 

  

	 	12.6	 Change of Control Termination.  

  

	 	12.6.1	 In the event of a Change of Control Termination, the Option (as assumed, exchanged, substituted, replaced or converted, if applicable) shall automatically
accelerate and become exercisable as of the date of termination of your Service with respect to fifty percent (50%) of the Option Shares (if any), or the shares or other securities for or by which the Option Shares have been exchanged,
substituted or replaced or converted to, for which the Option is not yet exercisable as of that date in accordance with the Vesting Schedule. 

  

	 	12.6.2	 For purposes of this Section 12.6; 

  

	 	(a)	 “Change of Control Period”, means a period that commences on the date that falls three months prior to the date of exchange of contracts in
relation to an applicable Corporate Transaction and terminates on the date that falls 12 months immediately after the completion of an applicable Corporate Transaction; 

 

	 	(b)	 “Change of Control Termination”, means the termination of your employment with the Company or an Associated Company or any successor thereto
(the “Employer”) during a Change of Control Period where: 

  
 5 

	 	(i)	 the Employer serves notice to terminate your employment, save where it is entitled summarily to terminate your employment without notice or payment in lieu
of notice under the Service Agreement; or 

  

	 	(ii)	 you terminate your employment with the Employer with or without notice for Good Reason (other than in circumstances where the Employer has reasonable grounds
for summary dismissal without notice or payment in lieu of notice under the Service Agreement) provided that you must, before you terminate your employment for Good Reason, and if (on a reasonable view) the circumstances that constitute Good Reason
are remediable, have first given the Employer a written notice stating clearly the event or circumstance that constitutes Good Reason in your belief, acting in good faith, and given the Employer a period of not less than 15 working days to cure the
event or circumstance allegedly constituting Good Reason and no Good Reason shall exist if on a reasonable view the event or circumstance is cured by the Employer; 

 

	 	(c)	 “Good Reason”, means grounds that entitle you to treat yourself as being constructively dismissed (within the meaning of section 95(1)(c) of
the Employment Rights Act 1996) as may be determined by a court of competent jurisdiction. Examples of such grounds may include, but are not limited to, circumstances where you are required to permanently relocate outside of Greater London, where
your pay is unilaterally reduced, where the Employer is in breach of the Service Agreement, or where on a Corporate Transaction the acquiring entity did not give you options, compensation or equity of at least the same value as the value of any
shares under option or award (net of exercise or purchase price) held by you which are no longer capable of vesting or being exercised after such Corporate Transaction; and 

 

	 	(d)	 “Service Agreement” means any unexpired service agreement between you and the Company or an Associated Company in effect from time to time.

  

	 	12.7	 No Notice of Post-Service Exercise Period.    You are responsible for ascertaining the applicable period during which the Option
may be exercised following the termination of your Service for any reason. The Company will not provide you with any notice of such period or its expiration. 

 

	 	12.8	 Date of Termination of Service.    Your Service will be considered terminated as of the date you cease to be an Employee,
Consultant, Director or Non-Employee Director of the Company or an Associated Company, (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are
employed or the terms of your Service Agreement, if any) and, subject to Applicable Law, your Service will not be extended by any notice period or garden leave period mandated by local law or any period during which you have ceased to provide
services to the Company or an Associated Company but during which the Company or an Associated Company is legally required to continue to employ you. In case of any dispute as to whether your termination of Service has occurred, the Committee shall
have sole discretion to determine whether such termination has occurred and the effective date of such termination. 

  

  
 6 

	 	12.9	 No Exercise after Expiration Date.    In no event may the Option be exercised later than the Expiration Date set forth in the
Notice. 

  

	13.	 Term of Option.    The Option shall in any event expire on the Expiration Date. 

 

	14.	 No Rights as Employee, Director or Consultant.  

  

	 	14.1	 Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company or an Associated Company to terminate your Service, for any
reason, with or without cause. 

  

	 	14.2	 Nothing in this Agreement (including, but not limited to, vesting of the Option pursuant to the Vesting Schedule), the Plan or any covenant of good faith and
fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Associated Company; (ii) constitute any promise or commitment
by the Company or an Associated Company regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this
Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or the Plan; or (iv) deprive the Company or its Associated Companies, as applicable, of the right to terminate your Service without
regard to any future vesting or exercise opportunity that you may have under the Option. 

  

	 	14.3	 By accepting the Option, you acknowledge and agree that the right to continue vesting of the Option pursuant to the Vesting Schedule is earned only by
continuing in Service (not through the act of being hired, being granted the Option or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Associated
Companies at any time or from time to time, as it deems appropriate (a “reorganization”). You further acknowledge and agree that such a reorganization could result in the termination of your Service, or the termination of Associated
Company status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination of the right to continue vesting of the Option. You further acknowledge and agree that this Agreement, the
Plan, the transactions contemplated hereunder and the Vesting Schedule or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued employment or engagement as
an employee or director of or consultant to the Company or any Associated Company for the duration of the Vesting Schedule, for any period, or at all, and shall not interfere in any way with your right or the right of the Company or any Associated
Company, as applicable, to terminate your Service at any time. 

  

	15.	 Discretionary Nature of Option.    In accepting the Option, you acknowledge, understand and agree that:

  

	 	15.1	 the Plan is established voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or terminated by the Company at any time, to
the extent permitted by the Plan; 

  

	 	15.2	 the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of Options or other Awards
under the Plan, or benefits in lieu of Awards, even if other Awards have been granted in the past; 

  

	 	15.3	 all decisions with respect to future Awards, if any, will be at the sole discretion of the Company; 

 

	 	15.4	 you are voluntarily participating in the Plan; 

  
 7 

	 	15.5	 the Option and any Shares acquired by you under the Plan are not intended to replace any pension rights or compensation; 

 

	 	15.6	 the Option and any Shares acquired under the Plan and the income and value of same are not part of normal or expected compensation or salary for purposes of
calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments or for any other purpose; 

 

	 	15.7	 the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty; 

 

	 	15.8	 no claim or entitlement to compensation or damages shall arise from lapse of the Option resulting from you ceasing to be employed by or provide other
services to the Company or any Associated Company (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your Service Agreement, if any), and in
consideration of the grant of the Option to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company or any of its Associated Companies, waive your ability, if any, to bring any such claim, and
release the Company and its Associated Companies from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have
agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 

  

	 	15.9	 unless otherwise provided in the Plan or by the Company in its discretion, the Option and the benefits evidenced by this Agreement do not create any
entitlement to have the Option or any such benefits transferred to, or assumed by, another company or exchanged, cashed out, replaced or substituted for or otherwise continued or preserved or dealt with in any particular manner in connection with a
Corporate Transaction; and 

  

	 	15.10	 you acknowledge and agree that neither the Company nor any Associated Company shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Option and the Shares subject to it or the subsequent sale of any such Shares. 

  

	16.	 Option and Shares Subject to Company Clawback or Recoupment.    The Option, and any Shares acquired upon exercise of the
Option, shall be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Company or required by law during the term of your Service that is applicable to you, and in addition to any other remedies
available under Applicable Law, such policy may require the cancellation of the Option in full or in part (whether vested or unvested), a reduction in the number of Option Shares that will become exercisable/vest, and/or the recoupment of any
economic benefit already realized by you with respect to the Option or Shares acquired under it, if you engage or have engaged in activity that is inimical, contrary or harmful to the interests of the Company, as more fully described in such policy.

  

	17.	 Tax Consequences.    You acknowledge that there may be tax consequences upon the grant, vesting and/or exercise of the
Option or disposition of the Shares acquired thereunder and you should consult a tax adviser regarding your tax obligations prior to such grant, vesting, exercise or disposition, in the jurisdiction(s) where you are subject to tax.

  

	18.	 Payment of Taxes 

  

	 	18.1	 Regardless of any action the Company or the Employer takes with respect to any or all income tax, national or social insurance contributions, payroll tax,
payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that 

  
 8 

	 	 
the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer (1) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any
dividends; and (2) do not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate your liability for Tax-Related Items. 

 

	 	18.2	 Prior to exercise of the Option, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and
payment on account obligations of the Company and/or the Employer. In this regard, with the Company’s consent, these arrangements may include (a) payment by you of an amount equal to the Tax-Related Items directly by cash, cheque, wire
transfer, bank draft or money order payable to the Company, (b) if permissible under Applicable Law, withholding an amount equal to Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company
and/or the Employer, (c) having the Company withhold payments for Tax-Related Items and any fees or charges payable by you in connection with such sale, from the proceeds of a Same-Day Sale, or (d) any other arrangement approved by the
Company. You agree to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of your participation in the Plan or the vesting or exercise of the Option that cannot
be satisfied by the means previously described. Finally, you acknowledge that the Company has no obligation to issue Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in this Section.

  

	 	18.3	 You hereby agree to indemnify and hold the Company, the Employer and each Associated Company of the Company harmless in respect of all Tax-Related Items.

  

	19.	 No Advice Regarding Option.    The Company is not providing any tax, legal or financial advice, nor is the Company making
any recommendations regarding your participation in the Plan, the exercise of the Option or the sale of Shares acquired under the Option. You are advised to consult with your own personal tax, legal and financial advisors regarding your
participation in the Plan before taking any action related to the Plan or the Option. 

  

	20.	 Consent to Electronic Delivery of All Plan Documents and Communications.    Any notices provided for under this Agreement
or the Plan shall be given in writing (including electronically) and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, fourteen (14) days after posting from the United Kingdom by prepaid
post, addressed to you at the last address you provided to the Company. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and the Option by electronic means
or request your consent to participate in the Plan by electronic means. By accepting the Option you are consenting to receive such documents by electronic delivery and agreeing to participate in the Plan through an on-line or electronic system
established and maintained by the Company, Computershare or another third party designated by the Company. 

  

	21.	 Compliance with Laws and Regulations. 

  

	 	21.1	 Shares will not be issued to you upon exercise of the Option unless either (i) the Shares are registered under the Securities Act; or (ii) the
Company has determined that such issuance would be exempt from the registration requirements of the Securities Act. The issuance of Shares to you under the Option will also be subject to and conditioned upon compliance by the Company and you with
all other Applicable Law. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance of any Shares shall relieve the
Company of any liability in respect of the failure to issue such Shares as to which such requisite authority shall not have been obtained. The Company shall not be obliged to register the Shares with the SEC or to effect compliance with the
registration, qualification or 

  
 9 

	 	 
listing requirements of any securities laws, exchange control laws, stock exchange or automated quotation system and the Company shall have no liability to you for any inability or failure to do
so. 

  

	 	21.2	 As a condition to the issuance of any Shares pursuant to the Option, the Company may require you to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Company. Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if
any, determined by the Company. 

  

	22.	 Appendix.    Notwithstanding any provision in this Agreement, the Option shall be subject to any special terms and
conditions set forth in any Appendix to this Agreement for your country. Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company
determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement. 

 

	23.	 Necessary Amendments.    Notwithstanding anything in the Plan to the contrary, the Company reserves the right to change, by
written notice to you, the provisions of this Agreement in any way it may deem necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the
foregoing. 

  

	24.	 Data Protection. 

  

	 	24.1	 You hereby explicitly and unambiguously consent to the collection, retention, use, processing and transfer, in electronic or other form, of your Personal
Data by the Company, any Associated Company, any administrator of the Plan, the Company’s registrars, transfer agent, brokers and other agents, whether among themselves or to any third party, for the exclusive purpose of implementing,
administering and managing your participation in the Plan. 

  

	 	24.2	 You understand that the Company and its Associated Companies may hold certain personal information about you that constitutes Personal Data, including, but
not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, passport and/or visa information, email address, employment history, directorships
or offices you hold in the Company or any Associated Company, any Shares held by you, details of the Option and all other Awards or any other entitlement to Shares awarded, cancelled, exercised, vested, unvested or outstanding in your favour,
details of any change in your Service status or absences on leave, for the exclusive purpose of implementing, administering and managing the Plan. 

  

	 	24.3	 You understand that your Personal Data may be transferred to the Company’s-designated Plan broker and to Computershare, or such other stock plan service
provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that recipients of your Personal Data may be located both in and outside the
European Union or the European Economic Area, and that a recipient’s country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that you may request a list with the names and
addresses of any potential recipients of your Personal Data by contacting your local human resources representative. You authorise the Company, its designated Plan broker and Plan administrator and any other possible recipients which may assist the
Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer your Personal Data, in electronic or other form, for the sole purpose of implementing, administering and
managing your participation in the Plan. 

  
 10 

	 	24.4	 You understand that your Personal Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You
understand that you may, at any time, view your Personal Data, request additional information about the storage and processing of your Personal Data, require any necessary amendments to or deletions from your Personal Data or refuse or withdraw the
consents herein, in any case without cost, by contacting in writing your local human resources representative. Further, you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later
seek to revoke your consent, your employment status or service and career with the Company or its Associated Companies will not be adversely affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not
be able to grant you Awards under the Plan or other options or other equity awards or administer or maintain such awards. Therefore, you understand that refusing or withdrawing your consent may affect your ability to retain the Option and to
participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

 

	25.	 Entire Agreement; Enforcement of Rights.  

  

	 	25.1	 This Agreement, the Plan and the Notice constitute the entire agreement and understanding between you and the Company and its Associated Companies relating
to the subject matter herein and they supersede all prior discussions between you and the Company or any Associated Company regarding the subject matter. Any prior agreements, commitments or negotiations concerning the Option are superseded.

  

	 	25.2	 The provisions of this Agreement (and, in particular, Section 18) may also be enforced by the Employer and each Associated Company of the Company.

  

	26.	 Amendments. Subject to Section 23, no modification of or amendment to this Agreement nor any waiver of any rights under this Agreement,
shall be effective unless in writing (including electronically) and signed (or consented to by electronic means approved by the Company) by both you and the Company and, in the case of the Company, executed as a deed where so required. The failure
by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 

  

	27.	 Further Assurance. You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of
the Company to carry out the purposes or intent of the Option. 

  

	28.	 Plan Prospectus and Insider Trading Policy. You hereby acknowledge receipt or the right to receive a document providing the information
required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s Insider Trading Policy permitting officers, directors and employees of the Company and
its Associated Companies to trade Shares only during certain “window” periods in effect from time to time. 

  

	29.	 Successors and Assigns. Subject to the limitations set forth in this Agreement, this Agreement shall be binding upon, and inure to the benefit
of, the executors, administrators, heirs, legal representatives, successors and assigns of the parties hereto, including, without limitation, any business entity that succeeds to the business of the Company. 

 

	30.	 Severability. If one or more provisions of this Agreement are held to be unenforceable under Applicable Law, you and the Company agree to
renegotiate such provision in good faith. In the event that a mutually agreeable and enforceable replacement for such provision cannot be agreed, then, to the maximum extent permitted by Applicable Law, (i) such provision shall be excluded from
this Agreement, (ii) the balance of this Agreement shall be interpreted as if such 

  
 11 

	 	 
provision were so excluded, and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. 

 

	31.	 Governing Law. This Agreement, the Plan, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the laws of England and Wales and the Courts of England and Wales shall have exclusive jurisdiction in relation to all matters arising under this Agreement and the Plan.

  

	32.	 Translations. If you have received this Agreement or any other document related to the Plan translated into a language other than English and
if the meaning of the translated version is different to the English version, the English version will control. 

  

	33.	 Headings. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this
Agreement or to affect the meaning of this Agreement. 

  

	34.	 Counterparts.    The Notice may be executed in any number of counterparts, any of which may be executed and transmitted by
facsimile, and each of which shall be deemed to be an original, but all of which together shall be deemed to be one and the same instrument. 

  

	35.	 Acknowledgement.    The Company and you agree that the Option is granted under and governed by this Agreement and the Plan.
You acknowledge that a copy of the Plan has been made available to you on Kingfluence and you represent that you have carefully read and are familiar with its provisions. 

By accepting the Option, you shall be deemed to have agreed to the terms and conditions of the Share Option Terms (including any Appendix thereto), the
Notice and the Plan. 

  
 12 

 APPENDIX TO THE 

SHARE OPTION TERMS 

(SENIOR VICE PRESIDENT) 

TERMS AND CONDITIONS 
 This Appendix contains
additional terms and conditions that govern the Option granted under the Plan to you if you reside and/or work in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the
Plan and/or the Terms. 
 In the event of any conflict between the provisions of this Appendix and the Notice and/or the Terms, this Appendix shall
prevail. 
 If you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after the Option
is granted, or are considered a resident of another country for local law purposes, the information contained herein may not be applicable to you, and the Company shall, in its discretion, determine to what extent the terms and conditions contained
herein shall apply to you. 
 GENERAL 
 This
Appendix contains information of which you should be aware with respect to your participation in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of 1 May 2014. Such
laws are often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your participation in the Plan because
the information may be out of date at the time your Option is exercised or you sell Shares acquired pursuant thereto. 
 The information contained
herein is general in nature and may not apply to your particular situation, and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws
in your country may apply to your situation. 
 UNITED KINGDOM 

To the extent permitted by Applicable Law, the Company may at any time prior to the exercise of your Option determine that liability for all or some of
the employer’s National Insurance Contributions arising from the vesting or exercise of your Options (or from the acquisition of Shares pursuant thereto) shall be transferred to or borne by you (“Determination”). In the event
that the Company makes the Determination, you will be notified. You hereby agree that following such notification you will at any time upon request join in with the Company or any Associated Company or any other person in making any election or
notice reasonably required by the Company or such Associated Company or other person (as applicable) for the purpose of ensuring that the liability for all employer’s National Insurance Contributions (or any similar social security
contributions) arising as a consequence of the vesting or exercise of your Options (or the acquisition of Shares pursuant thereto) is assumed and borne solely by you and treated as a liability falling on you instead of on the Company or such
Associated Company or other person (as applicable) and in entering into any arrangements required by HM Revenue & Customs (“HMRC”) for securing that any liability so assumed is duly paid by you. You shall not be required to
enter into any election or notice pursuant to this paragraph in the event that you enter into such other arrangements with the Company, any Associated Company or any other person (as applicable) that are satisfactory to the Company, such Associated
Company or any other person (as applicable) to discharge any liability referred to in this paragraph. If the Company makes the Determination, you shall indemnify and keep indemnified the Company, your Employer and any Associated Company against all
employer’s National Insurance Contributions arising from the vesting or exercise of your Option (or the acquisition of Shares pursuant thereto) and to the extent permitted by Applicable Law and (save where you are liable to account for the same
directly to HMRC) such employer’s National Insurance Contributions shall be treated as a Tax-Related item for the purpose of Section 18 of the Terms. 

WF-11065046-1 

  
 13VTR-2014.12.31 EX 4.24

 

Exhibit 4.24

THIRD SUPPLEMENTAL INDENTURE
 
by and among
 
Ventas Canada Finance Limited, as Issuer
Ventas, Inc., as Guarantor
 
and
 
Computershare Trust Company of Canada,
as Trustee
 
 
Cdn$250,000,000
3.30% Senior Notes, Series C due 2022 
 
___________________ 
 
Dated as of January 13, 2015 
 
Supplement to Indenture dated as of September 24, 2014 (Senior Debt Securities)

 

TABLE OF CONTENTS

Page
ARTICLE ICREATION OF THE SECURITIES                                                                  2
Section 1.01Designation of the Series; Securities Guarantee.    2
Section 1.02Form of Notes.    2
Section 1.03No Limit on Amount of Notes.    2
Section 1.04Ranking.    2
Section 1.05Certificate of Authentication.    3
Section 1.06No Sinking Fund.    3
Section 1.07No Additional Amounts.    3
Section 1.08Definitions.    3
ARTICLE IIREDEMPTION    10
Section 2.01Amendment to Article 3.    10
ARTICLE IIICOVENANTS    11
Section 3.01Amendments to Article 4.    11
ARTICLE IVSUCCESSORS    14
Section 4.01Amendments to Article 5.    14
ARTICLE VDEFAULTS AND REMEDIES    16
Section 5.01Amendments to Article 6.    16
ARTICLE VITRUSTEE    18
Section 6.01Amendments to Article 7.    18
ARTICLE VIILEGAL DEFEASANCE AND COVENANT DEFEASANCE    18
Section 7.01Applicability of Defeasance Provisions.    18
Section 7.02Determinations Under Section 8.03.    18
Section 7.03Determination Under Section 8.07.    18
Section 7.04Amendments to Article 8.    19
ARTICLE VIIISECURITIES GUARANTEES    19
Section 8.01Applicability of Guarantee Provisions.    19
ARTICLE IXMISCELLANEOUS    19
Section 9.01Determination Under Section 14.08.    19
Section 9.02Application of Third Supplemental Indenture; Ratification.    19
Section 9.03Benefits of Third Supplemental Indenture.    20
Section 9.04Effective Date.    20
Section 9.05Governing Law.    20
Section 9.06Counterparts.    20

 

THIS THIRD SUPPLEMENTAL INDENTURE, dated as of January 13, 2015 (the “Third Supplemental Indenture”), is by and among Ventas Canada Finance Limited, a Nova Scotia company, as issuer (the “Issuer”), Ventas, Inc., a Delaware corporation, as Guarantor, and Computershare Trust Company of Canada, as trustee (the “Trustee”), having a Corporate Trust Office at 11th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y, as Trustee under the Indenture (defined below).
WHEREAS, Ventas, Inc., the Issuer and the Trustee are parties to that certain indenture dated as of September 24, 2014 (the “Base Indenture” and, as amended and supplemented by this Third Supplemental Indenture and as further amended and supplemented from time to time, the “Indenture”), providing for the issuance by Ventas, Inc. or by the Issuer together from time to time of their respective senior debt securities (the “Securities”);
WHEREAS, Sections 2.02 and 9.01 of the Base Indenture provide, among other things, that, without the consent of the Holders of the Securities, one or more indentures supplemental to the Base Indenture may be entered into to establish the form or terms of Securities of any series or to change or eliminate any of the provisions of the Base Indenture; provided that any such change or elimination shall become effective only when there is no Security outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provisions;
WHEREAS, the Issuer, acting in its capacity as issuer under the Base Indenture, desires to issue a series of its Securities under the Base Indenture, and has duly authorized the creation and issuance of such Securities and the execution and delivery of this Third Supplemental Indenture to modify the Base Indenture and to provide certain additional provisions in respect of such Securities as hereinafter described;
WHEREAS, the Issuer desires to issue such Securities with the benefit of a guarantee provided by Ventas, Inc. on the terms set forth in the Base Indenture, as supplemented by this Third Supplemental Indenture;
WHEREAS, the Issuer, Ventas, Inc. and the Trustee deem it advisable to enter into this Third Supplemental Indenture for the purposes of establishing the terms of such Securities and guarantee and providing for the rights, obligations and duties of the Trustee with respect to such Securities;
WHEREAS, concurrently with the execution hereof, the Issuer has delivered to the Trustee an Officers’ Certificate and has caused its counsel to deliver to the Trustee an Opinion of Counsel or a reliance letter upon an Opinion of Counsel satisfying the requirements of Section 2.03 of the Base Indenture; 
WHEREAS, all conditions and requirements of the Base Indenture necessary to make this Third Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto, and the execution and delivery hereof have been in all respects duly authorized by the parties hereto; and

WHEREAS, the foregoing recitals are made as statements of fact by the Issuer and the Guarantor and not by the Trustee.
NOW, THEREFORE, for and in consideration of the premises and agreements herein contained, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of such Securities, as follows:

2

ARTICLE I 
 
CREATION OF THE SECURITIES
Section 1.01    Designation of the Series; Securities Guarantee.
(a)    The changes, modifications and supplements to the Base Indenture effected by this Third Supplemental Indenture shall be applicable only with respect to, and govern the terms of, the Notes (as defined below), which shall not apply to any other Securities that have been or may be issued under the Base Indenture unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements. Pursuant to the terms hereof and Sections 2.01 and 2.02 of the Base Indenture, the Issuer hereby creates a series of Securities designated as the “3.30% Senior Notes, Series C due 2022” (the “Notes”), which Notes shall be deemed “Securities” for all purposes under the Base Indenture.  Except as otherwise provided in the Base Indenture, the Notes shall form their own series for voting purposes, and shall not be part of the same class or series as any other Securities issued by the Issuer or by Ventas, Inc.
(b)    Each of the Notes will be guaranteed by the Guarantor in accordance with Article 11 of the Base Indenture and Article VIII of this Third Supplemental Indenture. For clarity, the Issuer shall not be considered a Guarantor for purposes of the Indenture or the Notes.
Section 1.02    Form of Notes.  The Notes will be issued in definitive form and the definitive form of the Notes shall be one or more Global Securities substantially in the form set forth in Exhibit A attached hereto, which is incorporated herein and made a part hereof.  The Notes shall bear interest, be payable and have such other terms as are stated in the form of definitive Note or in the Indenture.  The stated maturity of the principal of the Notes shall be February 1, 2022.
Section 1.03    No Limit on Amount of Notes.  The Trustee shall authenticate and deliver on January 13, 2015, Notes for original issue in an aggregate principal amount of up to Cdn$250,000,000.  Notwithstanding the foregoing, the aggregate principal amount of the Notes shall be unlimited; provided, that the terms of all Notes issued under this Third Supplemental Indenture (other than the date of issuance) shall be the same.  The Issuer may, upon the execution and delivery of this Third Supplemental Indenture or from time to time thereafter, execute and deliver the Notes to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes upon an Authentication Order and delivery of an Officers’ Certificate and Opinion of Counsel as contemplated by Section 2.03 of the Base Indenture, without further action by the Issuer.
Section 1.04    Ranking.  The Notes will be the Issuer’s unsecured and unsubordinated obligations and rank equal in right of payment with all of the Issuer’s existing and future unsecured and unsubordinated indebtedness.

3

Section 1.05    Certificate of Authentication.  The Trustee’s certificate of authentication to be included on the Notes shall be substantially as provided in the form of Note attached hereto as Exhibit A.
Section 1.06    No Sinking Fund.  No sinking fund will be provided with respect to the Notes (notwithstanding any provisions of the Base Indenture with respect to sinking fund obligations).
Section 1.07    No Additional Amounts.  No Additional Amounts will be payable with respect to the Notes (notwithstanding any provisions of the Base Indenture with respect to Additional Amount obligations), except those Additional Amounts payable by the Guarantor pursuant to Section 11.01(f) of the Base Indenture as and when such Additional Amounts are payable.
Section 1.08    Definitions.
(a)    Capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned thereto in the Base Indenture.
(b)    Solely for purposes of this Third Supplemental Indenture and the Notes, the following definitions in Section 1.01 of the Base Indenture are hereby amended in their entirety to read as follows:
“Business Day” means any day other than a Saturday or Sunday or a day on which banking institutions in the City of Toronto are required or authorized by law to close.
“Debt” means, as of any date (without duplication), (1) all indebtedness and liabilities for borrowed money, secured or unsecured, of Ventas, Inc. and its Subsidiaries, including mortgages and other notes payable (including the Notes to the extent outstanding from time to time), but excluding any indebtedness, including mortgages and other notes payable, which is secured by cash, cash equivalents or marketable securities or defeased (it being understood that cash collateral shall be deemed to include cash deposited with a trustee with respect to third party indebtedness) and (2) all Contingent Liabilities of Ventas, Inc. and Subsidiaries, excluding in each of clauses (1) and (2) Intercompany Debt and all liabilities associated with customary exceptions to non-recourse indebtedness, such as for fraud, misapplication of funds, environmental indemnities, voluntary bankruptcy, collusive involuntary bankruptcy and other similar exceptions.
It is understood that Debt shall not include any redeemable equity interest in Ventas, Inc.
“Default” means, with respect to the Indenture and the Notes, any event that is, or with the passage of time or giving of notice would be, an Event of Default.
“GAAP” means generally accepted accounting principles in the United States, consistently applied, as in effect from time to time.

4

“Incur” means, with respect to any Debt or other obligation of any Person, to create, assume, guarantee or otherwise become liable in respect of such Debt or other obligation, and “Incurrence” and “Incurred” have the meanings correlative to the foregoing.
“Interest Payment Date” has the meaning set forth in the Indenture and the Notes.
“Lien” means (without duplication) any lien (statutory or otherwise), mortgage, hypothec, trust deed, deed of trust, deed to secure debt, pledge, security interest, assignment for collateral purposes, deposit arrangement, or other security agreement, excluding any right of setoff but including, without limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and any other like agreement granting or conveying a security interest; provided, that for purposes hereof, “Lien” shall not include any mortgage that has been defeased by Ventas, Inc. or any of its Subsidiaries in accordance with the provisions thereof through the deposit of cash, cash equivalents or marketable securities (it being understood that cash collateral shall be deemed to include cash deposited with a trustee with respect to third party indebtedness).
“Significant Subsidiary” means each Subsidiary that is a “significant subsidiary”, if any, of Ventas, Inc., as such term is defined in Regulation S-X under the Securities Act.
(c)    Solely for purposes of this Third Supplemental Indenture and the Notes, the following terms shall have the indicated meanings:
“Canada Yield Price” means in respect of any redemption of the Notes, a price calculated to provide a yield to maturity, compounded semi-annually and calculated in accordance with generally accepted financial practice, equal to the Government of Canada Yield on the date on which the Issuer gives notice of redemption of such Notes to the Holders pursuant to the Indenture, plus 45.5 basis points.
“Consolidated EBITDA” means, for any period of time, the net income (loss) of Ventas, Inc. and its Subsidiaries, determined on a consolidated basis in accordance with GAAP for such period, before deductions for (without duplication): 
(1)     Interest Expense; 
(2)     taxes; 
(3)     depreciation, amortization, and all other non-cash items, as determined reasonably and in good faith by Ventas, Inc., deducted in arriving at net income (loss); 
(4)     extraordinary items; 
(5)     non-recurring items or other unusual items, as determined reasonably and in good faith by Ventas, Inc. (including, without limitation, all prepayment penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such transaction is completed)); 

5

(6)     noncontrolling interests; 
(7)     income or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with GAAP; and 
(8)     gains or losses on dispositions of depreciable real estate investments, property valuation losses and impairment charges. 
For purposes of calculating Consolidated EBITDA, all amounts shall be as determined reasonably and in good faith by Ventas, Inc., and in accordance with GAAP except to the extent that GAAP is not applicable with respect to the determination of all non-cash and non-recurring items.
“Consolidated Financial Statements” means, with respect to any Person, collectively, the consolidated financial statements and notes to those financial statements, of that Person and its subsidiaries prepared in accordance with GAAP.
“Contingent Liabilities of Ventas, Inc. and Subsidiaries” means, as of any date, those liabilities of Ventas, Inc. and its Subsidiaries consisting of (without duplication) indebtedness for borrowed money, as determined in accordance with GAAP, that are or would be stated and quantified as contingent liabilities in the notes to the Consolidated Financial Statements of Ventas, Inc. as of the date of determination.
 “Government of Canada Yield” on any date means the yield to maturity on such date, compounded semi-annually and calculated in accordance with generally accepted financial practice, which a non-callable Government of Canada bond would carry if issued, in Canadian dollars in Canada, at 100% of its principal amount on such date with a term to maturity equal to the remaining term to maturity, calculated as of the redemption date, of the Notes, such yield to maturity being the average of the yields provided by two major Canadian investment dealers selected by the Issuer.
“Guarantor” means Ventas, Inc. and its successors and assigns; provided, however, that any Person constituting a Guarantor as described above shall cease to constitute a Guarantor when its Guarantee of the Notes is released in accordance with the terms of the Indenture.
“Intercompany Debt” means, as of any date, Debt to which the only parties are Ventas, Inc. and any of its Subsidiaries as of such date; provided, however, that with respect to any such Debt of which the Issuer or the Guarantor is the borrower, such Debt is subordinate in right of payment to the Notes.
“Interest Expense” means, for any period of time, the aggregate amount of interest recorded in accordance with GAAP for such period by Ventas, Inc. and its Subsidiaries, but excluding (i) interest reserves funded from the proceeds of any loan, (ii) prepayment penalties, (iii) amortization of deferred financing costs, and (iv) non-cash swap ineffectiveness charges, in all cases as reflected in the applicable Consolidated Financial Statements.

6

“Issue Date” means January 13, 2015.
“Issuer” has the meaning stated in the preamble.
“Latest Completed Quarter” means, as of any date, the then most recently ended fiscal quarter of Ventas, Inc. for which Consolidated Financial Statements of Ventas, Inc. have been completed, it being understood that at any time when Ventas, Inc. is subject to the informational requirements of the Exchange Act, and in accordance therewith files annual and quarterly reports with the Commission, the term “Latest Completed Quarter” shall be deemed to refer to the fiscal quarter covered by Ventas, Inc.’s most recently filed Quarterly Report on Form 10-Q, or, in the case of the last fiscal quarter of the year, Ventas, Inc.’s Annual Report on Form 10-K.
“Notes” has the meaning stated in Section 1.01 hereof.
“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Debt.
“Property EBITDA” means for any property owned by Ventas, Inc. or any of its Subsidiaries as of the date of determination, for any period of time, the net income (loss) derived from such property for such period, before deductions for (without duplication):
(1)     Interest Expense; 
(2)     taxes; 
(3)     depreciation, amortization, and all other non-cash items, as determined reasonably and in good faith by Ventas, Inc., deducted in arriving at net income (loss); 
(4)     general and administrative expenses that are not allocated by management to a property segment, as reflected in Ventas, Inc.’s Consolidated Financial Statements available for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter; 
(5)     extraordinary items; 
(6)     non-recurring items or other unusual items, as determined reasonably and in good faith by Ventas, Inc. (including, without limitation, all prepayment penalties and all costs or fees incurred in connection with any debt financing or amendment thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such transaction is completed)); 
(7)     noncontrolling interests; 
(8)     income or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with GAAP; and 

7

(9)    property valuation losses and impairment charges; 
in each case attributable to such property. 
For purposes of calculating Property EBITDA, all amounts shall be determined reasonably and in good faith by Ventas, Inc., and in accordance with GAAP except to the extent that GAAP is not applicable with respect to the determination of all non-cash and non-recurring items.  
Property EBITDA shall be adjusted (without duplication) to give pro forma effect:
(x)     in the case of any assets having been placed-in-service or removed from service since the first day of the period to the date of determination, to include or exclude, as the case may be, any Property EBITDA earned or eliminated as a result of the placement of such assets in service or removal of such assets from service as if the placement of such assets in service or removal of such assets from service occurred as of the first day of the period; and
(y)     in the case of any acquisition or disposition of any asset or group of assets since the first day of the period to the date of determination, including, without limitation, by merger, or stock or asset purchase or sale, to include or exclude, as the case may be, any Property EBITDA earned or eliminated as a result of the acquisition or disposition of those assets as if the acquisition or disposition occurred as of the first day of the period.
“Secured Debt” means, as of any date, that portion of the aggregate principal amount of all outstanding Debt of Ventas, Inc. and its Subsidiaries as of that date that is secured by a Lien on properties or other assets of Ventas, Inc. or any of its Subsidiaries.
“Stabilized Development Asset” means, as of any date, a new construction or development Real Estate Asset at such date that, following the first four consecutive fiscal quarters occurring after substantial completion of construction or development, either (i) an additional six consecutive fiscal quarters have occurred or (ii) such Real Estate Asset is at least 90% leased, whichever shall first occur.
“Subsidiary” means, with respect to any Person, a corporation, partnership association, joint venture, trust, limited liability company, unlimited liability company or other business entity which is required to be consolidated with such Person in accordance with GAAP.
“Third Supplemental Indenture” has the meaning stated in the preamble.
“Total Assets” means, as of any date, in each case as determined reasonably and in good faith by Ventas, Inc., the sum of (without duplication):
(1)    with respect to Real Estate Assets that were owned by Ventas, Inc. and its Subsidiaries as of April 17, 2002 and that continue to be owned as of the date of determination, the annualized rental revenues specified for such Real Estate Assets on 

8

Schedule 1 attached to this Third Supplemental Indenture, divided by 0.0900, plus any annualized incremental rental revenue generated by such Real Estate Assets as a result of, arising out of or in connection with annual rent escalations or rent reset rights of Ventas, Inc. and its Subsidiaries with respect to such Real Estate Assets (whether by agreement or exercise of such right or otherwise), divided by 0.0900; for the purpose of this clause (1), “annualized incremental rental revenue” in respect of a Real Estate Asset shall mean the increase in daily rental revenue generated by such Real Estate Asset as a result of, arising out of or in connection with such annual rent escalations or rent reset rights over the daily rental revenue generated by such Real Estate Asset immediately prior to the effective date of such increase, annualized by multiplying such daily increase by 365;
(2)    with respect to all other Real Estate Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination (except as set forth in clause (3) below), the cost (original cost plus capital improvements before depreciation and amortization) thereof, determined in accordance with GAAP; 
(3)    with respect to Stabilized Development Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination, the aggregate sum of all Property EBITDA for such Stabilized Development Assets for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter divided by (i) 0.0900, in the case of a government reimbursed property and (ii) 0.0700 in all other cases; provided, however, that if the value of a particular Stabilized Development Asset calculated pursuant to this clause (3) is less than the cost (original cost plus capital improvements before depreciation and amortization) of such Real Estate Asset, as determined in accordance with GAAP, such cost shall be used in lieu thereof with respect to such Real Estate Asset; 
(4)    the proceeds of the Debt, or the assets to be acquired in exchange for such proceeds, as the case may be, incurred since the end of the Latest Completed Quarter; 
(5)    mortgages and other notes receivable of Ventas, Inc. and its Subsidiaries, determined in accordance with GAAP; 
(6)    cash, cash equivalents and marketable securities of Ventas, Inc. and its Subsidiaries, but excluding all cash, cash equivalents and marketable securities securing, or applied to defease or discharge, in each case as of that date, any indebtedness, including mortgages and other notes payable (including cash deposited with a trustee with respect to third party indebtedness), all determined in accordance with GAAP; and 
(7)    all other assets of Ventas, Inc. and its Subsidiaries (excluding goodwill), determined in accordance with GAAP. 
“Unencumbered Assets” means, as of any date, in each case as determined reasonably and in good faith by Ventas, Inc., the sum of (without duplication):

9

(1)    with respect to Real Estate Assets that were owned by Ventas, Inc. and its Subsidiaries as of April 17, 2002 and that continue to be owned as of the date of determination, but excluding any such Real Estate Assets that are serving as collateral for Secured Debt, the annualized rental revenues specified for such Real Estate Assets on Schedule 1 attached to this Third Supplemental Indenture, divided by 0.0900, plus any annualized incremental rental revenue generated by such Real Estate Assets as a result of, arising out of or in connection with annual rent escalations or rent reset rights of Ventas, Inc. and its Subsidiaries with respect to such Real Estate Assets (whether by agreement or exercise of such right or otherwise), divided by 0.0900; for the purpose of this clause (1), “annualized incremental rental revenue” in respect of a Real Estate Asset shall mean the increase in daily rental revenue generated by such Real Estate Asset as a result of, arising out of or in connection with such annual rent escalations or rent reset rights over the daily rental revenue generated by such Real Estate Asset immediately prior to the effective date of such increase, annualized by multiplying such daily increase by 365;
(2)    with respect to all other Real Estate Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination (except as set forth in clause (3) below), but excluding any such Real Estate Assets that are serving as collateral for Secured Debt, the cost (original cost plus capital improvements before depreciation and amortization) thereof, determined in accordance with GAAP; 
(3)    with respect to Stabilized Development Assets owned by Ventas, Inc. and its Subsidiaries as of the date of determination, excluding any such Stabilized Development Assets that are serving as collateral for Secured Debt, the aggregate sum of all Property EBITDA for such Stabilized Development Assets for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter divided by (i) 0.0900, in the case of a government reimbursed property and (ii) 0.0700 in all other cases; provided, however, that if the value of a particular Stabilized Development Asset calculated pursuant to this clause (3) is less than the cost (original cost plus capital improvements before depreciation and amortization) of such Real Estate Asset, as determined in accordance with GAAP, such cost shall be used in lieu thereof with respect to such Real Estate Asset; 
(4)    the proceeds of the Debt, or the assets to be acquired in exchange for such proceeds, as the case may be, incurred since the end of the Latest Completed Quarter; 
(5)    mortgages and other notes receivable of Ventas, Inc. and its Subsidiaries, except any mortgages or other notes receivable that are serving as collateral for Secured Debt, determined in accordance with GAAP; 
(6)    cash, cash equivalents and marketable securities of Ventas, Inc. and its Subsidiaries, but excluding all cash, cash equivalents and marketable securities securing, or applied to defease or discharge, in each case as of that date, any indebtedness, including mortgages and other notes payable (including cash deposited 

10

with a trustee with respect to third party indebtedness), all determined in accordance with GAAP; and 
(7)    all other assets of Ventas, Inc. and its Subsidiaries (excluding goodwill), other than assets pledged to secure Debt, determined in accordance with GAAP; provided, however, that Unencumbered Assets shall not include net real estate investments in unconsolidated joint ventures of Ventas, Inc. and its Subsidiaries.  
For the avoidance of doubt, cash held by a “qualified intermediary” in connection with proposed like-kind exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended, which may be classified as “restricted” for GAAP purposes shall nonetheless be included in clause (6) above, so long as Ventas, Inc. or any of its Subsidiaries has the right to (i) direct the qualified intermediary to return such cash to Ventas, Inc. or such Subsidiary if and when Ventas, Inc. or such Subsidiary fails to identify or acquire the proposed like-kind property or at the end of the 180-day replacement period or (ii) direct the qualified intermediary to use such cash to acquire like-kind property.
“Unsecured Debt” means, as of any date, that portion of the aggregate principal amount of all outstanding Debt of Ventas, Inc. and its Subsidiaries as of that date that is neither Secured Debt nor Contingent Liabilities of Ventas, Inc. and its Subsidiaries.
ARTICLE II     
 
REDEMPTION
Section 2.01    Amendment to Article 3.  Pursuant to Sections 2.02(7) and 2.02(8) of the Base Indenture, Article 3 of the Base Indenture is hereby amended with respect to the Notes by adding to the end the following new Sections 3.09, 3.10 and 3.11, in each case to read as follows:
“Section 3.09  Optional Redemption.
(a)    The Issuer may, at its option, redeem the Notes at any time prior to maturity, in whole or from time to time in part.  
 (b)     The redemption price for any redemption of the Notes will be equal to: (i) prior to January 2, 2022, the greater of: (1) 100% of the principal amount of the Notes to be redeemed, and (2) the Canada Yield Price, in each case plus accrued and unpaid interest thereon to the redemption date; and (ii) on or after January 2, 2022, 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to the redemption date.
(c)    Any redemption pursuant to this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.07 of the Indenture.

11

Section 3.10  Mandatory Redemption.  The Issuer is not required to make mandatory redemption payments with respect to the Notes.
Section 3.11  Purchase of Notes. The Issuer may purchase, at any time or from time to time, all or any of the Notes in the market (which shall include purchase from or through an investment dealer or a firm holding membership on a recognized stock exchange) or by invitation for tenders or by private contract at such price or prices as may be determined by the Issuer.”
ARTICLE III     
 
COVENANTS
Section 3.01    Amendments to Article 4.
(a)    Pursuant to Section 2.02(14) of the Base Indenture, Section 4.03 of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“Section 4.03  Reports.  Whether or not required by the Commission, so long as any Notes are outstanding, Ventas, Inc. shall file with the Trustee, within 15 days after it files the same with the Commission (or if not subject to the periodic reporting requirements of the Exchange Act, within 15 days after it would have been required to file the same with the Commission had it been so subject):
(1)    all quarterly and annual financial information that is required to be contained in filings with the Commission on Forms 10-Q and 10-K, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by Ventas, Inc.’s certified independent accountants; and
(2)    all current reports that are required to be filed with the Commission on Form 8-K.
For so long as any Notes remain outstanding, if at any time Ventas, Inc. is not required to file with the Commission the reports required by the preceding paragraph of this Section 4.03, Ventas, Inc. shall furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

12

The availability of the foregoing materials on the Commission’s website or on Ventas, Inc.’s website shall be deemed to satisfy the foregoing delivery obligations.”
(b)    Pursuant to Section 2.02(14) of the Base Indenture, Section 4.04 of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“Section 4.04  Compliance Certificate.  “Ventas, Inc. shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of Ventas, Inc. and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether Ventas, Inc. has kept, observed, performed and fulfilled its obligations under the Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge, Ventas, Inc. has kept, observed, performed and fulfilled each and every covenant contained in the Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of the Indenture (or, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action Ventas, Inc. is taking or proposes to take with respect thereto) and that to the best of his or her knowledge, no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Securities of any series is prohibited or if such event has occurred, a description of the event and what action Ventas, Inc. is taking or proposes to take with respect thereto.  For purposes of this Section 4.04, such compliance shall be determined without regard to any period of grace or requirement of notice under the Indenture.”
(c)    Pursuant to Section 2.02(14) of the Base Indenture, Section 4.06 of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“Section 4.06  Corporate Existence.  Except as permitted by Article 5 and Section 11.04, Ventas, Inc. and the Issuer shall do all things necessary to preserve and keep their existence, rights and franchises; provided, however, that neither Ventas, Inc. nor the Issuer shall be required to preserve any such right or franchise if Ventas, Inc. or the Issuer, as applicable, shall determine reasonably and in good faith that the preservation thereof is no longer desirable in the conduct of its business; and provided, further, for clarity, the amalgamation or other combination of the Issuer with one or more other Subsidiaries of Ventas, Inc. shall not constitute a breach of this Section 4.06.”

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(d)    Pursuant to Section 2.02(14) of the Base Indenture, Article 4 of the Base Indenture is hereby amended with respect to the Notes by adding to the end the following new Sections 4.07 through 4.11, in each case to read as follows:
“Section 4.07  Taxes.  Ventas, Inc. will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.
Section 4.08  Stay, Extension and Usury Laws.  Each of Ventas, Inc. and the Issuer covenants (to the extent that they may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of the Indenture; and each of Ventas, Inc. and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted.
Section 4.09  Limitations on Incurrence of Debt.
(a)    Ventas, Inc. shall not, and shall not permit any of its Subsidiaries to, Incur any Debt if, immediately after giving effect to the Incurrence of such additional Debt and any other Debt Incurred since the end of the Latest Completed Quarter and the application of the net proceeds therefrom, the aggregate principal amount of all outstanding Debt would exceed 60% of the sum of (without duplication) (i) Total Assets as of the end of the Latest Completed Quarter and (ii) the purchase price of any Real Estate Assets or mortgages receivable acquired, and the amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire Real Estate Assets or mortgages receivable or to reduce Debt), since the end of the Latest Completed Quarter.
(b)    Ventas, Inc. shall not, and shall not permit any of its Subsidiaries to, Incur any Secured Debt if, immediately after giving effect to the Incurrence of such additional Secured Debt and any other Secured Debt Incurred since the end of the Latest Completed Quarter and the application of the net proceeds therefrom, the aggregate principal amount of all outstanding Secured Debt would exceed 50% of the sum of (without duplication) (i) Total Assets as of the end of the Latest Completed Quarter and (ii) the purchase price of any Real Estate Assets or mortgages receivable acquired, and the amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire Real Estate 

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Assets or mortgages receivable or to reduce Debt), since the end of the Latest Completed Quarter.
(c)    Ventas, Inc. shall not, and shall not permit any of its Subsidiaries to, Incur any Debt if, immediately after giving effect to the Incurrence of such additional Debt and any other Debt Incurred since the end of the Latest Completed Quarter and the application of the net proceeds therefrom, the ratio of Consolidated EBITDA to Interest Expense for the four (4) consecutive fiscal quarters ending with the Latest Completed Quarter would be less than 1.50 to 1.00 on a pro forma basis and calculated on the assumption (without duplication) that:
(i)    the additional Debt and any other Debt Incurred by Ventas, Inc. or any of its Subsidiaries since the first day of such four-quarter period to the date of determination, which was outstanding at the date of determination, had been Incurred at the beginning of that period and continued to be outstanding throughout that period, and the application of the net proceeds of such Debt, including to refinance other Debt, had occurred at the beginning of such period; provided, that in determining the amount of Debt so Incurred, the amount of Debt under any revolving credit facility shall be computed based upon the average daily balance of such Debt during such period;
(ii)    the repayment or retirement of any other Debt repaid or retired by Ventas, Inc. or any of its Subsidiaries since the first day of such four-quarter period to the date of determination had occurred at the beginning of that period; provided, that in determining the amount of Debt so repaid or retired, the amount of Debt under any revolving credit facility shall be computed based upon the average daily balance of such Debt during such period; and
(iii)     in the case of any acquisition or disposition of any asset or group of assets (including, without limitation, by merger, or stock or asset purchase or sale) or the placement of any assets in service or removal of any assets from service by Ventas, Inc. or any of its Subsidiaries since the first day of such four-quarter period to the date of determination, the acquisition, disposition, placement in service or removal from service and any related repayment or refinancing of Debt had occurred as of the first day of such period, with the appropriate adjustments to Consolidated EBITDA and Interest Expense with respect to the acquisition, disposition, placement in service or removal from service being included in that pro forma calculation.

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Section 4.10 Maintenance of Unencumbered Assets. Ventas, Inc. and its Subsidiaries shall maintain at all times Unencumbered Assets of not less than 150% of the aggregate principal amount of all outstanding Unsecured Debt.”
ARTICLE IV     
 
SUCCESSORS
Section 4.01    Amendments to Article 5.
(a)    Pursuant to Section 2.02(14) of the Base Indenture, Section 5.01 of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“Section 5.01    Consolidation, Amalgamation, Merger, or Sale of Assets.
Ventas, Inc. may not, directly or indirectly: (a) consolidate, amalgamate or merge with or into another Person (whether or not Ventas, Inc. is the surviving corporation); or (b) sell, assign, transfer, convey, lease (other than to an unaffiliated operator in the ordinary course of business) or otherwise dispose of all or substantially all of the properties or assets of Ventas, Inc. and its Subsidiaries taken as a whole, in one or more related transactions, to another Person, unless:
(1)    either:
(i)    Ventas, Inc. is the surviving corporation; or
(ii)    the Person formed by or surviving any such consolidation, amalgamation or merger (if other than Ventas, Inc.) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation organized or existing under the laws of the United States, any state of the United States or the District of Columbia;
(2)    the Person formed by or surviving any such consolidation, amalgamation or merger (if other than Ventas, Inc.) or the Person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all of Ventas, Inc.’s obligations under the Notes and the Indenture pursuant to agreements reasonably satisfactory to the Trustee; and
(3)    immediately after such transaction, on a pro forma basis giving effect to such transaction or series of transactions (and treating any obligation of Ventas, Inc. or any Subsidiary incurred in connection with or 

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as a result of such transaction or series of transactions as having been incurred at the time of such transaction), no Default or Event of Default exists under the Indenture.
Notwithstanding anything to the contrary in this Section 5.01, Ventas, Inc. may consolidate, amalgamate or merge with or into the Issuer, or sell and/or transfer to the Issuer all or substantially all of its assets, in each case, without compliance with any of the requirements set forth in this Article 5.”
(b)    Pursuant to Sections 2.02(14) of the Base Indenture, Article 5 of the Base Indenture is hereby amended with respect to the Notes by adding to the end the following new Sections 5.03 and 5.04, in each case to read as follows:
“Section 5.03    Assumption by a Subsidiary of the Guarantor. 
A Subsidiary of the Guarantor that is organized and existing under the laws Canada or any Province thereof, may, without the consent of the Holders, directly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, the due and punctual payment of the principal of and interest on all the Notes and the performance of every covenant of the Indenture on the part of the Issuer to be performed or observed. Upon any such assumption, the Subsidiary shall succeed to, and be substituted for and may exercise every right and power of, the Issuer under the Indenture with the same effect as if the Subsidiary had been named as the Issuer herein and the Issuer shall be released from liability as obligor on the Notes.
Section 5.04    Termination of the Guarantee.
The obligations of the Guarantor under the Indenture shall terminate at such time the Guarantor merges, amalgamates or consolidates with the Issuer or at such other time as the Issuer acquires all of the assets and partnership interests of the Guarantor.”
ARTICLE V     
 
DEFAULTS AND REMEDIES
Section 5.01    Amendments to Article 6.
(a)    Pursuant to Section 2.02(14) of the Base Indenture, Section 6.01 of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“Section 6.01.  Events of Default.
Each of the following is an “Event of Default”:  

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(1)    Ventas, Inc. or the Issuer does not pay the principal or any premium on any Note when due and payable;
(2)    Ventas, Inc. or the Issuer does not pay interest on any Note within 30 days after the applicable due date;
(3)    Ventas, Inc. or its Subsidiaries remain in breach of any other term of the Indenture for 90 days after they receive a notice of Default stating they are in breach.  Either the Trustee or the Holders of more than 25% in aggregate principal amount of the Notes then Outstanding may send the notice;
(4)    except as permitted by the Indenture and the Notes, the Securities Guarantee by Ventas, Inc. shall cease to be in full force and effect or Ventas, Inc. shall deny or disaffirm its obligations with respect thereto;
(5)    the Issuer, Ventas, Inc. or any of its Significant Subsidiaries default under any of their third party indebtedness (including a default with respect to Securities of any series under the Indenture other than the Notes) in an aggregate principal amount exceeding US$50.0 million after the expiration of any applicable grace period, which default results in the acceleration of the maturity of such indebtedness.  Such default is not an Event of Default if the other indebtedness is discharged, or the acceleration is rescinded or annulled, within a period of 30 days after the Issuer, Ventas, Inc. or any such Significant Subsidiary, as the case may be, receives notice specifying the default and requiring that they discharge the other indebtedness or cause the acceleration to be rescinded or annulled.  Either the Trustee or the Holders of more than 25% in aggregate principal amount of the Notes then Outstanding may send the notice, with a copy to the Trustee if the Holders send the notice;
(6)    the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary:
(i)    commence a voluntary case;
(ii)    consent to the entry of an order for relief against them in an involuntary case;
(iii)    consent to the appointment of a custodian of them or for all or substantially all of their property;
(iv)    make a general assignment for the benefit of their creditors; or
(v)    generally are not paying their debts as they become due; or 
(7)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

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(i)    is for relief against the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, in an involuntary case;
(ii)    appoints a custodian of the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, or for all or substantially all of the property of the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary; or
(iii)    orders the liquidation of the Issuer, Ventas, Inc. or any of its Significant Subsidiaries, or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary;
and the order or decree remains unstayed and in effect for 60 consecutive days;”
(b)    Pursuant to Section 2.02(14) of the Base Indenture, Section 6.02 of the Base Indenture is hereby amended with respect to the Notes by (i) deleting the first sentence thereof in its entirety and inserting in its place the following:
“In the case of an Event of Default specified in clause (6) or (7) of Section 6.01, with respect to the Issuer, Ventas, Inc. or any of its Significant Subsidiaries or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, all Outstanding Notes will become due and payable immediately without further action or notice.”
and (ii) adding to the end of Section 6.02 the following:
“Notwithstanding anything to the contrary contained in the Indenture, the sole remedy for an Event of Default relating to a failure to comply with any of the provisions of Section 4.03 hereof shall consist exclusively of the right to receive additional interest on the Notes at an annual rate equal to 0.25% of the outstanding principal amount of the Notes.  This additional interest will be payable in the same manner and on the same dates as the stated interest payable on the Notes and will accrue on all Outstanding Notes from and including the date on which such Event of Default first occurs to, but not including, the date on which such Event of Default shall have been cured or waived.” 
(c)    Pursuant to Section 2.02(14) of the Base Indenture, Section 6.08 of the Base Indenture is hereby amended with respect to the Notes by deleting from the first line thereof the reference to clause (3) of Section 6.01 of the Base Indenture.

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ARTICLE VI     
 
TRUSTEE
Section 6.01    Amendments to Article 7.  Pursuant to Section 2.02(14) of the Base Indenture, Section 7.06(e) of the Base Indenture is hereby amended with respect to the Notes by changing the references to Section 6.01(7) or (8) therein to Section 6.01(6) or (7).
ARTICLE VII     
 
LEGAL DEFEASANCE AND COVENANT DEFEASANCE
Section 7.01    Applicability of Defeasance Provisions.  Pursuant to Sections 2.02(17) and 8.01 of the Base Indenture, so long as any of the Notes are Outstanding, Sections 8.02 and 8.03 of the Base Indenture shall be applicable to the Notes.
Section 7.02    Determinations Under Section 8.03.  For the purposes of Sections 2.02(17) and 8.03 of the Base Indenture, Section 8.03 of the Base Indenture shall apply to Sections 4.09 and 4.10.
Section 7.03    Determination Under Section 8.07.  For the purposes of Sections 8.07 and 12.02 of the Base Indenture, the provisions of Section 8.07 of the Base Indenture shall apply to the Notes.
Section 7.04    Amendments to Article 8.  
(a)    Pursuant to Section 2.02(14) of the Base Indenture, the last sentence of Section 8.03 of the Base Indenture is hereby amended with respect to the Notes by changing the references to Sections 6.01(4) through 6.01(6) therein to Sections 6.01(3) through 6.01(5).
(b)    Pursuant to Section 2.02(14) of the Base Indenture, Section 8.04(e) of the Base Indenture is hereby amended with respect to the Notes by deleting the text thereof in its entirety and inserting in its place the following:
“(e)    such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than the Indenture in respect of the Notes) to which Ventas, Inc. or the Issuer is a party or by which Ventas, Inc. or the Issuer is bound;”
ARTICLE VIII     
 
SECURITIES GUARANTEES
Section 8.01    Applicability of Guarantee Provisions.  

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(d)    Pursuant to Sections 2.02(1) and 11.01 of the Base Indenture, so long as any of the Notes are Outstanding, Article 11 shall be applicable to the Notes.  
(e)    To evidence its Guarantee in accordance with Section 11.03 of the Indenture, the Guarantor agrees that a notation of such Guarantee substantially in the form attached as Exhibit B hereto will be endorsed by an Officer of such Guarantor on each Note authenticated and delivered by the Trustee and that the Indenture has been executed on behalf of such Guarantor by one of its Officers.
ARTICLE IX     
 
MISCELLANEOUS
Section 9.01    Determination Under Section 14.08.  For the purposes of Section 14.08 of the Base Indenture, the agreements of the Guarantor will bind its successors except as otherwise provided in Article 11 of the Base Indenture.
Section 9.02    Application of Third Supplemental Indenture; Ratification.
(c)    Each and every term and condition contained in this Third Supplemental Indenture that modifies, amends or supplements the terms and conditions of the Base Indenture shall apply only to the Notes created hereby and not to any future series of Securities established under the Indenture.
(d)    The Base Indenture, as supplemented and amended by this Third Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture and this Third Supplemental Indenture shall be read, taken and construed as the same instrument.
(e)    In the event of any conflict between this Third Supplemental Indenture and the Base Indenture, the provisions of this Third Supplemental Indenture shall prevail.
Section 9.03    Benefits of Third Supplemental Indenture.  Nothing contained in this Third Supplemental Indenture shall or shall be construed to confer upon any Person other than a Holder of the Notes, the Issuer, the Guarantor or the Trustee any right or interest to avail itself of any benefit under any provision of the Base Indenture or this Third Supplemental Indenture.
Section 9.04    Effective Date.  This Third Supplemental Indenture shall be effective as of the date first above written and upon the execution and delivery hereof by each of the parties hereto.
Section 9.05    Governing Law.  This Third Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the Province of Ontario and the federal laws of Canada applicable therein, except in respect of Article VIII hereof and the Guarantee, without regard to conflicts of laws principles thereof. Article VIII of this Third 

21

Supplemental Indenture and the Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflicts of laws principles thereof.
Section 9.06    Counterparts.  This Third Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture to be duly executed by their respective officers hereunto duly authorized, all as of the day and year first above written.
VENTAS CANADA FINANCE LIMITED

By:    /s/ Brian K. Wood                
Name: Brian K. Wood
Title:   Vice President, Secretary and Treasurer    
VENTAS, INC.
By:    /s/ Robert F. Probst                
Name: Robert F. Probst    
Title:   Executive Vice President, Chief Financial  Officer and Acting Chief Accounting Officer

[Signature Page to Third Supplemental Indenture between Ventas Canada Finance Limited, Ventas, Inc. and Computershare]

COMPUTERSHARE TRUST COMPANY OF CANADA
		
	By:
	/s/ Lisa M. Kudo         
Name:  
Title:                      

		
	By:
	/s/ Raji Sivalingam         
Name:  
Title: 

[Signature Page to Third Supplemental Indenture between Ventas Canada Finance Limited, Ventas, Inc. and Computershare]

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