PROTEON THERAPEUTICS, INC.
2014 EMPLOYEE STOCK PURCHASE PLAN
1. Purpose and History
The purpose of this Plan is to give Employees wishing to do so a convenient means of purchasing Common Stock of the Company through payroll deductions. The Company believes that ownership of Common Stock by Employees will foster greater Employee interest in the Companys growth and development.
This Plan was adopted by the Board on August 21, 2014. It is the Companys intention that the Plan qualify as an employee stock purchase plan under Section 423 of the Code. The provisions of the Plan shall, accordingly, be construed in a manner consistent with the requirements of that Code section.
As used in this Plan, the following terms shall have the following meanings:
Board means the Companys Board of Directors.
2.2. Business Day means a day on which the NASDAQ Global Market (or any other national securities exchange on which the Common Stock is then listed) is open for trading. Every date under this Plan that falls on a weekend, a holiday or any other day that is not a Business Day (and any event that occurs after 5 p.m. eastern time on any date) shall be deemed automatically to fall on the next Business Day.
2.3. Code means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute thereto, and any regulations issued from time to time thereunder.
2.4. Committee means the Compensation Committee of the Board or such other committee delegated responsibility by the Board for the administration of the Plan, as provided in Section 5 of the Plan. For any period during which no such committee is in existence Committee shall mean the Board and all authority and responsibility assigned to the Committee under the Plan shall be exercised, if at all, by the Board.
2.5. Common Stock or Stock means the common stock, par value $0.001 per share, of the Company.
2.6. Company means Proteon Therapeutics, Inc., a corporation organized under the laws of the State of Delaware.
2.7. Compensation means an Employees total compensation, including base pay or regular earnings plus commissions, bonuses, and overtime.
2.8. Continuous Status as an Employee means the absence of any interruption or termination of service as an Employee. Continuous Status as an Employee shall not be considered interrupted in the case of (i) sick leave; (ii) military leave; (iii) any other leave of absence approved by the Plan administrator, provided that such leave is for a period of not more than three