Exhibit 10.3
Amendment No. 1 to the Amended and Restated 2018 Stock Option Scheme
This Amendment No. 1 (“Amendment No. 1”) to the Amended and Restated 2018 Stock Option Scheme (the “2018 Plan”) of UCLOUDLINK GROUP INC. (the “Company”) is effective as of January 17, 2025.
| 1. | Pursuant to the written resolutions passed by the board of directors of the Company dated and effective as of January 17, 2025, the 2018 Plan is hereby amended as follows: |
| (a) | The Definitions Section is hereby amended by replacing the following definition set forth therein with the following entirely: |
| “Option Period” | means, in respect of a particular Option, a period of six (6) years commencing from the Exercisable Date, or such other period not exceeding the Scheme Period (as defined below) as the Company may decide; |
| 2. | Notwithstanding the foregoing, except as amended hereby, each of the provisions of the 2018 Plan shall remain in full force and effect, and this Amendment No. 1 shall not constitute a modification, acceptance or waiver of any other provision of the 2018 Plan, except as specifically provided herein. |
| 3. | This Amendment No. 1 shall be construed in accordance with and governed by the laws of the Cayman Islands. |
