EX-10.3
Kardigan, Inc.
KARDIGAN, INC.
2026 EMPLOYEE STOCK PURCHASE PLAN
The purpose of the Kardigan, Inc. 2026 Employee Stock Purchase Plan (the “Plan”) is to provide eligible employees of Kardigan, Inc. (the “Company”) and each Designated Company (as defined in Section 11) with opportunities to purchase shares of the Company’s voting common stock, par value $0.00001 per share (the “Common Stock”). 1,180,000 shares of Common Stock in the aggregate have been approved and reserved for this purpose, plus on January 1, 2027 and each January 1 thereafter until the Plan terminates pursuant to Section 20, the number of shares of Common Stock reserved and available for issuance under the Plan shall be cumulatively increased by the least of (i) 2,360,000 shares of Common Stock, (ii) 1% of the number of Outstanding Shares on the immediately preceding December 31, and (iii) such lesser number of shares of Common Stock as determined by the Administrator (as defined in Section 1). The Plan includes two components: a Code Section 423 Component (the “423 Component”) and a non-Code Section 423 Component (the “No
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