Stock Option Grant Letter

1. Grant

Example Labs Inc. (the "Company") grants you an option to buy 4,000 shares of the Company’s common stock at an exercise price of USD 1.20 per share, under the Example Labs 2025 Stock Option Plan (the "Plan").

The grant date is 1 October 2026.

2. Vesting

Your option vests over four years.

25% vests on the first anniversary of the grant date, and the rest vests in equal monthly instalments over the following 36 months, as long as you remain in continuous service.

If the Company is acquired and your employment is terminated without cause within 12 months after the acquisition, 50% of your unvested options will vest immediately.

3. Exercise

You may exercise vested options at any time before the option expires, by submitting an exercise notice and paying the exercise price in full.

The option expires 10 years after the grant date.

The Board may, at its discretion, permit a cashless exercise.

Send exercise notices to equity@example.com.

4. Leaving the Company

If your service ends for any reason other than cause, you may exercise vested options within 90 days after your last day of service.

Unexercised options lapse after this period.

If your service ends for cause, all options, vested and unvested, lapse immediately.

Unvested options lapse on your last day of service.

5. Transfer and sale

Shares acquired on exercise are subject to the Company’s right of first refusal on any proposed transfer.

Shares may not be sold or transferred until the Company completes an initial public offering or a sale, except with the Board’s written approval.

If holders of a majority of the Company’s shares agree to sell the Company, you must sell your shares on the same terms.

6. Tax

You are responsible for all taxes arising from the grant, vesting, exercise or sale of the option or shares.

The Company may withhold any tax it is required to withhold before issuing shares.

7. Changes to the Plan

The Board may amend or terminate the Plan at any time, but no amendment may reduce your rights under this option without your consent.

In the event of a stock split, merger or similar change, the Board will adjust the number of shares and the exercise price as it considers fair.

8. Law and disputes

This letter and the Plan are governed by the laws of the State of Delaware.

Any dispute will be resolved by binding arbitration in San Francisco, California.