X0303 4 2011-02-18 0 0001486800 Higher One Holdings, Inc. ONE 0001494213 HATTON DEAN C/O HIGHER ONE HOLDINGS, INC. 25 SCIENCE PARK NEW HAVEN CT 06511 1 1 0 0 President and CEO Stock Option (Right to buy) 18.05 2011-02-18 4 A 0 50000 0 A 2021-02-18 Common Stock 50000 50000 D This option shall become exercisable as follows: 20% of the shares of Common Stock underlying the Option, on the one year anniversary of the Grant Date and the balance in 48 equal monthly installments commencing one month after such one year anniversary. /s/ Thomas D. Kavanaugh as attorney-in-fact for Dean Hatton 2011-02-23