VAI · Senmiao Technology Ltd

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as an officer through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as an officer of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as an officer through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as an officer of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as an officer through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as an officer of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest in four equal quarterly installments on January 29, 2021, April 29, 2021, July 29, 2021 and October 29, 2021 or in full upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through the applicable vesting date. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) vesting date, (ii) a change in control and (iii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest on March 31, 2020 in full or upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through March 31, 2020. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) March 31, 2020, (ii) change in control and (ii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest on March 31, 2020 in full or upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through March 31, 2020. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) March 31, 2020, (ii) change in control and (ii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest on March 31, 2020 in full or upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through March 31, 2020. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) March 31, 2020, (ii) change in control and (ii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest on March 31, 2020 in full or upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through March 31, 2020. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) March 31, 2020, (ii) change in control and (ii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock at settlement subject to the terms and conditions set forth in the award of such RSUs by Senmiao Technology Limited (the "Company") to the Reporting Person pursuant to a Restricted Stock Unit Award Agreement (the "Agreement").

The RSUs vest on March 31, 2020 in full or upon the occurrence of a change in control of the Company, subject to the terms and conditions set forth in the Agreement, provided that the Reporting Person remains in service as a director through March 31, 2020. RSUs shall be settled by the Company's issuance of a share of common stock in certificated or uncertificated form upon the earlier of (i) March 31, 2020, (ii) change in control and (ii) the Reporting Person's cessation as a director of the Company due to a "separation of service" within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, or the Reporting Person's death or disability.