Herc Holdings Inc. Employee Stock Purchase Plan
(As Amended and Restated, Effective as of January 1, 2017)

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Table of Contents
ARTICLE I
Introduction..................................................................................................................    4
1.1    Purpose of the
Plan........................................................................................................    4
1.2    Employee Stock Purchase
Plan.....................................................................................    4
1.3    Other similar
plans........................................................................................................    4
1.4    Shares for the Plan and
Sub-Plans...............................................................................    4
ARTICLE II Meaning of Words
Used.............................................................................................    4
2.1    In this
Plan......................................................................................................................    4
2.2    Headings.........................................................................................................................    6
ARTICLE III
Eligibility...................................................................................................................    7
3.1    Eligible
Employees.........................................................................................................    7
3.2    Restrictions on
eligibility...............................................................................................    7
ARTICLE IV
Invitations..................................................................................................................    7
4.1    Operation........................................................................................................................    7
4.2    Time when invitations may be
made............................................................................    7
4.3    Form of
invitation..........................................................................................................    8
4.4    Limit on
participation...................................................................................................    8
ARTICLE V Applying to join the
Plan............................................................................................    9
5.1    Form of
application.......................................................................................................    9
5.2    Subsequent
Offerings....................................................................................................    9
5.3    Incorporation of
terms..................................................................................................    9
ARTICLE VI Purchase
Price...........................................................................................................    9
6.1    Setting the
price.............................................................................................................    9
6.2    Fair Market
Value..........................................................................................................    9
ARTICLE VII Grant of Purchase
Right.........................................................................................    10
7.1    Grant.............................................................................................................................    10
7.2    Correction.....................................................................................................................    10
7.3    Transferability..............................................................................................................    10
ARTICLE VIII Shares available for the
Plan................................................................................    10
8.1    Limit required by IRS
rules........................................................................................    10
8.2    Exclusions.....................................................................................................................    10
8.3    Types of
Shares.............................................................................................................    10
ARTICLE IX Scaling
down...........................................................................................................    11
9.1    Method..........................................................................................................................    11
9.2    Insufficient
Shares........................................................................................................    11
ARTICLE X Payroll
deductions....................................................................................................    11
10.1    Start and
end................................................................................................................    11
10.2    Suspending
Contributions...........................................................................................    11
10.3    Changing
Contributions..............................................................................................    11
10.4    Withdrawal from an
Offering.....................................................................................    12
10.5    Continued
participation..............................................................................................    12
10.6    The
account..................................................................................................................    12
10.7    Compliance with Section
423......................................................................................    12

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10.8    Approved leave of
absence..........................................................................................    12
ARTICLE XI Termination of
employment....................................................................................    13
11.1    General rule on termination and
death.....................................................................    13
11.2    Beneficiary
designation...............................................................................................    13
ARTICLE XII Exercise of Purchase
Right....................................................................................    13
12.1    Exercise.........................................................................................................................    13
12.2    Contributions...............................................................................................................    13
12.3    Registration
compliance..............................................................................................    13
12.4    Lapse.............................................................................................................................    14
ARTICLE XIII Acquisition of
Shares............................................................................................    14
13.1    Issue or
transfer...........................................................................................................    14
13.2    Rights............................................................................................................................    14
13.3    Certificate of incorporation and
bylaws....................................................................    15
13.4    Listing...........................................................................................................................    15
ARTICLE XIV Corporate
events...................................................................................................    15
14.1    Change in
Control........................................................................................................    15
14.2    Liquidation or dissolution of the
Company...............................................................    15
14.3    Change in the securities of the
Company..................................................................    15
14.4    Terms
used....................................................................................................................    15
ARTICLE XV
General..................................................................................................................    16
15.1    Notices...........................................................................................................................    16
15.2    Documents sent to
shareholders.................................................................................    17
15.3    Costs..............................................................................................................................    17
15.4    Terms of
employment..................................................................................................    17
15.5    Corporate
actions.........................................................................................................    18
15.6    Employee
trust.............................................................................................................    18
15.7    Withholding..................................................................................................................    18
15.8    Data
privacy.................................................................................................................18
15.9    Legal
compliance..........................................................................................................    19
15.10    Crediting
Service......................................................................................................    19
ARTICLE XVI
Administration......................................................................................................    19
16.1    Committee's
powers.....................................................................................................    19
16.2    Committee's decision final and
binding.....................................................................    20
16.3    Indemnification of
Committee....................................................................................    20
ARTICLE XVII Changing the Plan and
Termination....................................................................    20
17.1    Changing the
Plan........................................................................................................    20
17.2    Notice.............................................................................................................................    20
17.3    Termination of the
Plan...............................................................................................    20
ARTICLE XVIII Overseas
Participants.........................................................................................    20
18.1    Establishing
plans........................................................................................................    20
18.2    Overseas
laws...............................................................................................................    21
ARTICLE XIX Governing
Law.....................................................................................................    21

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Herc Holdings Inc.
Employee Stock Purchase Plan
                      ARTICLE I    
Introduction
1.1
Purpose of the Plan. The purpose of the Plan is to provide employees of
Participating Companies with the opportunity to acquire Shares or an interest in
Shares of the Company. Employees who participate in the Plan are given a right,
called a Purchase Right, to buy Shares at the end of the specified Contribution
Period.

1.2
Employee Stock Purchase Plan. The Plan is intended to constitute an "employee
stock purchase plan" within the meaning of Section 423 of the Code. The
provisions of the Plan will be construed so as to extend and limit participation
in a manner consistent with that section of the Code.

1.3
Other similar plans. The Company may establish similar plans for operation in
other countries ("Sub-Plans"), as set out in Article 18 (Overseas Participants).
The Sub-Plans may be set forth in a schedule to this Plan or set out in separate
documents. The Plan is, however, a separate and independent plan from the
Sub-Plans.

1.4
Shares for the Plan and Sub-Plans. The number of Shares authorized to be issued
under the Plan in Article 8 (Shares available for the Plan) applies in total to
both the Plan and any Sub-Plans. The Committee will determine, at its
discretion, the method for allocating the Shares under the Plan and the
Sub-Plans without shareholder approval.

ARTICLE II
Meaning of Words Used
2.1
In this Plan:

"Acquisition Date" means the end of the Contribution Period (as specified by the
Committee in the invitation), at which time the Purchase Right granted under the
Plan may be exercised and Shares acquired on behalf of the Participant.
"Affiliate" means, with respect to any Person, any other Person directly or
indirectly controlling, controlled by or under common control with such first
Person. For these purposes, "control" (including the terms "controlled by" and
"under common control with") means the possession, directly or indirectly, of
the power to direct or cause the direction of the management policies of a
Person by reason of ownership of voting securities, by contract or otherwise.
"Board" means the Board of Directors of the Company or, where appropriate, a
duly authorized committee of it.

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"Business Day" means any day on which the New York Stock Exchange is open for
the transaction of business.
"Code" means the Internal Revenue Code of 1986, as amended. References to any
provision of the Code or regulation (including proposed regulation) include any
successor provisions or regulations.
"Committee" means the Compensation Committee of the Board or such other
committee selected by the Board to administer the Plan, including the Herc
Rentals Benefits Committee.
"Company" means Herc Holdings Inc. (formerly known as Hertz Global
Holdings, Inc.), a Delaware corporation, and any successor thereto.
"Compensation" means all cash remuneration paid or made available by a
Participating Company to an Eligible Employee for his services, as salary or
wages or sales representative commissions and including the amount of his
pre-tax contributions under The Herc Rentals Income Savings Plan and the Herc
Rentals Custom Benefit Program (or such programs and plans in substitution
thereof), but excluding all other amounts includible in the Eligible Employee's
income for federal income tax purposes.
"Contribution" means the amount of after-tax payroll deduction an employee has
agreed to make, as set out in his application for a Purchase Right.
"Contribution Period" means a period of time specified in the invitation within
an Offering, beginning on the Grant Date and ending on the Acquisition Date, or
such earlier date as may be established under Article 11 (Termination of
employment).
"Dealing Restrictions" means restrictions imposed by statute, order, regulation
or government directive, or by any code adopted by the Company, or any US or
other regulatory requirement restricting dealings in Shares.
"Eligible Employee" means an employee who meets the requirements specified in
the invitation to participate in the Offering and also in Article 3
(Eligibility).
"Grant Date" means a date selected by the Committee for an Offering to commence.
"Offering" means the grant of Purchase Rights to acquire Shares under the Plan
to Eligible Employees.
"Parent" means a Person which is a "parent corporation" of the Company within
the meaning of Section 424(e) of the Code.
"Participant" means a person holding a Purchase Right, including
Representatives.
"Participating Companies" means:
(a)    any Subsidiary organized under the laws of any state of the United States
of America, unless the Committee has determined a Subsidiary is not designated
to participate in the Plan; and

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(b)    any other Subsidiary designated by the Committee to participate in the
Plan (as long as it is not participating in any Sub-Plan).
"Person" means any natural person, firm, partnership, limited liability company,
association, corporation, company, trust, business trust, governmental authority
or other entity.
"Plan" means this plan known as the Herc Holdings Inc. Employee Stock Purchase
Plan (formerly known as the Amended and Restated Hertz Global Holdings, Inc.
Employee Stock Purchased Plan, as most recently approved by the stockholders of
the Company on May 15, 2013).
"Purchase Price" means the amount payable for each Share on the exercise of a
Purchase Right calculated as described in Article 6 (Purchase Price).
"Purchase Right" means a right to acquire Shares granted under the Plan.
"Representative" means the person entitled to receive the assets of a
Participant under a Participant's will or the laws of intestate succession, in
the case of a deceased Participant, or to act as a guardian or conservator for a
Participant, in the case of a Participant who is found to be incompetent.
"Securities Act" means the Securities Act of 1933, as amended.
"Share" means a share of the common stock of the Company.
"Sub-Plan" means any employee share purchase plan established in accordance with
Article 18 (Overseas Participants).
"Subsidiary" means a Person which is a "subsidiary corporation" of the Company
within the meaning of Section 424(f) of the Code.
Any references in the Plan to the masculine gender shall include references to
the feminine gender and vice versa.
2.2
Headings. Headings will be ignored in construing this Plan.

        

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                  ARTICLE III    
Eligibility
3.1
Eligible Employees. A person will be eligible to participate if he:

(a)    is employed for the purposes of Section 423(b)(4) of the Code by a
Participating Company, including officers and directors, on the Grant Date; and
(b)    (23) has such qualifying period (if any) of continuous service (not
exceeding two years prior to the Grant Date), (23) has such qualifying (if any)
minimum number of customarily scheduled hours of work (not exceeding twenty),
and/or (23) such qualifying (if any) minimum number of months customarily worked
per calendar year (not exceeding five), in each case as the Committee may from
time to time determine.
3.2
Restrictions on eligibility

A person will not be eligible for the grant of any Purchase Rights if,
immediately after the grant of a Purchase Right, the person owns stock
possessing 5 percent or more of the total combined voting power or value of all
classes of shares of the Company or any Subsidiary. For the purpose of this
Section 3.2, (i) the rules of Section 424(d) of the Code apply in determining
the share ownership of any employee and the Shares which he may acquire under
all outstanding Purchase Rights, and (ii) Purchase Rights will be treated as
stock owned by the person.
ARTICLE IV    
Invitations
4.1
Operation. The Committee has discretion to decide whether the Plan will be
operated. When the Committee operates the Plan it must invite all Eligible
Employees to apply to participate. The invitation will continue to have effect
in respect of subsequent Offerings under the Plan such that a Participant who
has withdrawn from an Offering under Section 10.4 (Withdrawal from an Offering)
may re-apply to join the Plan under Section 5.1 (Form of application) provided
he continues to be an Eligible Employee.

4.2
Time when invitations may be made.

(a)    Invitations may be made at any such time as the Committee determines,
subject to any Dealing Restrictions.
(b)    If the Committee cannot make the invitation due to Dealing Restrictions,
the Committee may make the invitations at any time after the lifting of such
restrictions.
(c)    Invitations may not be made after May 14, 2018.

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4.3
Form of invitation. The invitation will specify:

(a)    the Grant Date;
(b)    the requirements a person must satisfy in order to be eligible to
participate;
(c)    the Purchase Price or how it is to be calculated;
(d)    the length of the Offering, which must not exceed 27 months beginning
with the Grant Date;
(e)    how applications must be submitted and the closing date for applying to
join the Offering;
(f)    the maximum number, if any, of Shares over which Purchase Rights may be
granted:
(g)    individually;
(h)    for the Offering;
(i)    taken in conjunction with Offerings under the Sub-Plans; or
(j)    for a specific Contribution Period;
(k)    the maximum and minimum permitted Contribution which can be specified in
a currency or as a percentage of the Participant's Compensation;
(l)    when and how frequently the payroll deductions will be made;
(m)    the Acquisition Date at the end of the Offering when the Shares will be
acquired; and
(n)    any other terms, consistent with the terms of this Plan.
The invitation and Offering must comply with the requirements of
Section 423(b)(5) of the Code.
4.4
Limit on participation.

(a)    No person may be granted a Purchase Right which permits his rights to
purchase Shares under all plans of the Company, any Subsidiary or Parent of the
Company that are qualified under Section 423 of the Code to exceed US$25,000 of
the Fair Market Value of such Shares, determined at the time the Purchase Right
is granted, for each calendar year in which such Purchase Right is outstanding
at any time.
(b)    To the extent necessary to comply with this requirement, the Committee
may:
(c)    cause a Participant's Contributions to be decreased in respect of any
Offering; or
(d)    take other actions it considers necessary to ensure compliance with
Section 423 of the Code.
            

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ARTICLE V    
Applying to join the Plan
5.1
Form of application. An application for a Purchase Right will be made in
writing, or electronically, in a form specified by the Committee and will
require the Eligible Employee to state:

(a)    the Contribution he wishes to make;
(b)    that his proposed Contribution, when added to any contributions he makes
under any other stock purchase plans of the Company, its Subsidiaries or its
Parent, will not exceed the maximum permitted under Section 423 of the Code.
An application in the form determined by the Committee which is improperly
completed or late may be rejected.
5.2
Subsequent Offerings. Unless the Participant withdraws from an Offering under
Section 10.4 (Withdrawal from an Offering), the Participant's application is
deemed to apply in respect of any subsequent Offerings if they are made
available by the Company.

5.3
Incorporation of terms. The terms of each Offering will include, through
incorporation by reference, the provisions of this Plan.

     ARTICLE VI    
Purchase Price
6.1
Setting the price. The Committee will determine the Purchase Price (or the
method by which it shall be determined) at the beginning of the Offering. The
Purchase Price must not be less than 85 percent of the Fair Market Value of a
Share at the Acquisition Date.

6.2
Fair Market Value. "Fair Market Value" on any particular day means the closing
selling price for a Share on the New York Stock Exchange on such day, as
reported in The Wall Street Journal or such other recognized source as the
Committee determines. If no selling price is reported for a particular date,
"Fair Market Value" will be the closing selling price for a Share on the closest
preceding Business Day for which such selling price is provided unless otherwise
determined by the Committee. If the Shares are listed on any established stock
exchange of a national market system (but they are not listed on the New York
Stock Exchange), their "Fair Market Value" shall be the closing selling price
for the Shares, as quoted on such exchange (or the exchange with the greatest
volume of trading in Shares) or system on the date of such determination, as
reported in The Wall Street Journal or such other recognized source as the
Committee determines. If Shares are no longer listed on an established market,
"Fair Market Value" of a Share will be determined in good faith by the
Committee.

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ARTICLE VII    
Grant of Purchase Right
7.1
Grant. Unless there has been scaling down as described in Article 9 (Scaling
Down), or the Committee decides not to proceed with an Offering, for example,
because there are not enough Shares, the Committee must, on the Grant Date,
grant to each Eligible Employee who has submitted and not withdrawn a valid
application a Purchase Right to acquire, at the Purchase Price, the number of
Shares that can be purchased based on the amount of Contributions he will make
during the Offering. The Committee will not grant a Purchase Right to anyone who
is not an Eligible Employee on the Grant Date. If the Committee tries to do so,
the grant will be void.

7.2
Correction. Any grant of a Purchase Right in excess of the limit in Article 8
(Shares available for the Plan) or Section 4.4 (Limit on participation) may be
adjusted in any way so as to not exceed those limits.

7.3
Transferability. Purchase Rights are not transferable by the Participant
otherwise than by will or the laws of descent and distribution, and shall only
be exercisable during the Participant's lifetime by the Participant.

ARTICLE VIII
Shares available for the Plan
8.1
Limit required by IRS rules. Shares that may be issued or sold pursuant to
Purchase Rights granted under the Plan and any Sub-Plan shall not exceed in the
aggregate 533,333 Shares of the Company (following the reverse stock split
effective as of June 30, 2016). This number is subject to the provisions of
Section 14.3 (Change in the securities of the Company) relating to adjustments
upon changes in capitalization.

8.2
Exclusions. Where a Purchase Right is terminated or lapses without being
exercised, these Shares are ignored when calculating the limits in this
Article 8.

8.3
Types of Shares. The Shares subject to the Plan may be Shares that have been
authorized but unissued, Shares that have been bought, or treasury shares.

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ARTICLE IX    
Scaling down
9.1
Method. If valid applications are received for a total number of Shares in
excess of any maximum number specified in the invitation under Section 4.3 (Form
of invitation), Section 4.4 (Limit on participation) or any limit under
Article 8 (Shares available for the Plan) the Committee will scale down
applications by choosing one or more of the following methods:

(a)    reducing the proposed Contributions by the same proportion to an amount
not less than the minimum specified in the invitation; or
(b)    reducing the proposed Contributions to a maximum amount chosen by the
Committee, which must not be less than the minimum specified in the invitation;
or
(c)    using other methods, but these must treat Eligible Employees fairly.
9.2
Insufficient Shares. If, having scaled down as described in Section 9.1
(Method), the number of Shares available is insufficient to enable Purchase
Rights to be granted to all Eligible Employees making valid applications, the
Committee may decide not to grant any Purchase Rights.

ARTICLE X    
Payroll deductions
10.1
Start and end. Contributions will be deducted from payroll on each pay date
during an Offering (unless terminated early in accordance with the terms of this
Plan) or such other dates as the Committee may decide. All Contributions are
made on an after-tax basis.

10.2
Suspending Contributions. A Participant may request to suspend making
Contributions at any time prior to the Acquisition Date by notifying the Company
in the form and manner designated by the Company. On the Acquisition Date the
Participant's Purchase Right will be exercised and Shares purchased to the
extent of the Contributions made until the suspension date, unless a Participant
withdraws from the Offering in accordance with Section 10.4 (Withdrawal from an
Offering). Any suspension under this Section 10.2 will take effect no later than
the first pay date following ten (10) business days from the Company's receipt
of the change form and shall be effective for the entire duration of the
Offering in which it is made (but not for any succeeding Offering), unless the
Committee determines otherwise. A Participant shall not be permitted to make up
any missed Contributions as a result of suspension under this Section 10.2 or
otherwise.

10.3
Changing Contributions. During an Offering, a Participant may request to
increase or decrease the rate of his Contributions for the remaining part of the
Offering and any succeeding Offerings, by completing or filing with the Company
a change form authorizing a change in the Contribution. The new rate of
Contribution will take effect no later than the

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first pay date following ten (10) business days from the Company's receipt of
the change form. A Participant is permitted to change his Contributions once per
Offering.
10.4
Withdrawal from an Offering. A Participant may request to withdraw from an
Offering at any time prior to the Acquisition Date by notifying the Company in
the form and manner designated by the Company. The request will take effect no
later than ten (10) business days following the Company's receipt of the
request. For the avoidance of doubt, the Company is not obliged to process a
request to withdraw from an Offering if the request is submitted later than ten
(10) days prior to an Acquisition Date. If not processed prior to the relevant
Acquisition Date, the request will take effect in respect of the next Offering.

All of the Participant's Contributions credited to his account will be paid to
him no later than 30 days after receipt of his notice of withdrawal and his
Purchase Right for the current Offering will be automatically terminated. No
further Contributions for the purchase of Shares will be permitted or made
during the Offering.
A Participant's withdrawal from an Offering will not have any effect upon his
eligibility to participate in the next Offering.
10.5
Continued participation. If so specified on the application, the Participant
will continue to participate in successive Offerings unless terminated as
provided in this Article 10.

10.6
The account. The Contributions will be credited to a bookkeeping account for the
Participant and may be deposited with the general funds of the Company or the
Participating Company or, if the Committee so decides, with a banking
institution or custodian as designated by the Committee. Except as otherwise
provided by the Committee, interest shall not be credited to accounts
established under the Plan.

10.7
Compliance with Section 423. A Participant's Contributions will, at any time, be
decreased to the extent necessary to comply with Section 423(b)(8) of the Code
and Section 4.4 (Limit on participation). Contributions shall recommence at the
rate provided in the Participant's application at the beginning of the first
Contribution Period which is scheduled to end in the following calendar year,
unless otherwise withdrawn by the Participant under Section 10.4 (Withdrawal
from an Offering) or changed under Section 10.3 (Changing Contributions).

10.8
Approved leave of absence. During an approved leave of absence, a Participant
may continue to participate in the Plan but may elect to suspend Contributions
in accordance with Section 10.2 during such leave period.

For the purposes of this Section 10.8, "approved leave of absence" means an
employee's leave of absence (for example, military leave, maternity leave or
sick leave) with the prior approval of an authorized person of his employer,
during which period the employee's employment relationship is treated as
continuing for the purposes of the Plan.

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However, if the period of leave exceeds 90 days and the individual's right to
re-employment is not guaranteed either by statute or by contract, the employment
relationship is deemed to terminate for the purposes of the Plan on the first
day immediately following such 90-day period.
ARTICLE XI    
Termination of employment
11.1
General rule on termination and death. A Purchase Right lapses immediately if a
Participant dies or ceases to be employed by a Participating Company (for
example, if he resigns). The Contributions credited to his account will be
returned to him or his Representative, as appropriate, without interest, no
later than 30 days following the termination of employment and his Purchase
Right will be automatically terminated.

11.2
Beneficiary designation. Notwithstanding Section 11.1, the Company may allow
Participants to designate a beneficiary to receive the Contributions credited to
the Participant and any Shares issued pursuant to the Plan which are held by a
custodian on behalf of the Participant in the event of the Participant's death,
in accordance with such rules as it shall establish from time to time.

ARTICLE XII    
Exercise of Purchase Right
12.1
Exercise. Unless a Participant withdraws from the Plan as provided in
Section 10.4 (Withdrawal from an Offering), his Purchase Right will be exercised
automatically on each Acquisition Date, and the maximum number of whole Shares
subject to the Purchase Right will be purchased at the applicable Purchase Price
with the accumulated Contributions in his account. The Purchase Right cannot be
exercised in part. Any surplus in the account which is insufficient to purchase
a whole Share will be either paid directly to the Participant in cash or carried
forward, in either case pursuant to rules established from time to time.
However, there are some conditions and exceptions to this general rule on
exercise; these are set out in Sections 12.2 (Contributions) and 12.3
(Registration compliance).

12.2
Contributions. A Participant may exercise his Purchase Right only using funds
equal to or less than the Contributions for the applicable Offering. A
Participant can only use Contributions made before the Acquisition Date
applicable to the Purchase Right.

12.3
Registration compliance. No Purchase Right may be exercised unless the Shares to
be issued or transferred upon exercise are covered by an effective registration
statement pursuant to the Securities Act or are eligible for an exemption from
the registration requirements, and the Plan is in material compliance with all
applicable federal, state, foreign and other securities and other laws
applicable to the Plan.

If, on an Acquisition Date during any Offering, the Shares are not registered or
exempt or the Plan is not in such compliance, no Purchase Rights granted under
the Plan or any Offering shall be exercised on the Acquisition Date. The
Acquisition Date will be delayed until the

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Shares are subject to such an effective registration statement or exempt, and
the Plan is in such compliance. The Acquisition Date will in no event be more
than 27 months from the Grant Date.
If, on the Acquisition Date under any Offering, as delayed to the maximum extent
permissible, the Shares are not registered or exempt and the Plan is not in such
compliance, no Purchase Rights will be exercised, and all Contributions
accumulated during the Offering (reduced to the extent, if any, such deductions
have been used to acquire Shares) will be distributed to the Participants with
any interest (if applicable).
12.4
Lapse. A Purchase Right will lapse and automatically terminate on the earliest
of the dates specified below:

(a)    the date on which the person ceases to be an employee of a Participating
Company;
(b)    as soon as administratively practicable after the date on which the
Participant gives notice under Section 10.4 (Withdrawal from an Offering) that
he intends to withdraw from the Plan; and
(c)    as provided in Section 14.1 (Change in Control).
ARTICLE XIII    
Acquisition of Shares
13.1
Issue or transfer. The Shares may be issued to a Participant or transferred to a
custodian on behalf of the Participant. Subject to Section 12.3 (Registration
compliance):

(a)    Shares to be issued to a Participant following the exercise of a Purchase
Right must be issued within 30 days of the Acquisition Date; and
(b)    if Shares are to be transferred to a custodian following the exercise of
a Purchase Right, the Committee must effect this transfer within 30 days of the
Acquisition Date.
13.2
Rights. Shares issued to a Participant on exercise of a Purchase Right rank
equally in all respects with the Shares in issue on the date of issue. They are
not entitled to any rights attaching to Shares by reference to a record date
preceding the date of issue.

Where Shares are to be transferred to a custodian on the exercise of a Purchase
Right, Participants are entitled to all rights attaching to the Shares by
reference to a record date after the transfer date. They are not entitled to any
rights before that date.

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13.3
Certificate of incorporation and bylaws. Any Shares acquired on the exercise of
Purchase Rights are subject to the certificate of incorporation and bylaws of
the Company in effect from time to time.

13.4
Listing. If and so long as the Shares are listed on the New York Stock Exchange
or on any other stock exchange where Shares are traded, the Company must apply
for listing of any Shares issued pursuant to the Plan prior to or as soon as
practicable after their issuance.

ARTICLE XIV    
Corporate events
14.1
Change in Control. Upon the occurrence of a Change in Control (as defined
below), the Participant's accumulated Contributions and any interest (if
applicable) will be returned to the Participant as soon as practicable, the
Purchase Rights will be cancelled and the Offering will terminate. If a Change
in Control is pending, the Committee may delay the commencement of an Offering.

14.2
Liquidation or dissolution of the Company. If the Company passes a resolution
for its liquidation or dissolution, any Offering shall terminate and Purchase
Rights will be cancelled as at that date. Any Contributions and interest (if
applicable), will be returned to the Participant as soon as practicable.

14.3
Change in the securities of the Company. If any change is made in the Shares of
the Company (including by reason of merger, consolidation, reorganization,
recapitalization, stock dividend, stock split, combination of shares, change in
corporate structure or other transaction), the Committee shall make an equitable
and proportionate anti-dilution adjustment to offset any resultant change in the
pre-share price of the Shares. Such mandatory adjustment may include a change in
the type(s), class(es) and the maximum number of Shares subject to the Plan
pursuant to Article 8 (Shares available for the Plan), and shall adjust the
type(s), class(es) number of Shares and purchase limits of each outstanding
Purchase Right and the Purchase Price in any manner equitable to the
Participants; this may include retrospective adjustments. If making such an
adjustment, the Committee may consider any consideration received by the Company
in the transaction. Adjustments may only be made if consistent with the
applicable rules under Sections 423 and 424 of the Code. The Company may notify
the Participant of any adjustment made under this Section 14.3.

14.4
Terms used. For the purpose of this Article and Section 15.10:

"Acquiring Company" means a person who obtains control of the Company.
"Change in Control" means the first to occur of the following events after the
adoption of the Plan:
(a)    the acquisition by any Person, entity or "group" (as defined in
Section 13(d) of the Securities Exchange Act of 1934, as amended) of 50% or more
of the combined voting power of the Company's then outstanding voting
securities, other than any such

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acquisition by the Company, any of its Subsidiaries, any employee benefit plan
of the Company or any of its Subsidiaries, or any Affiliates of any of the
foregoing;
(b)    the merger, consolidation or other similar transaction involving the
Company, as a result of which persons who were stockholders of the Company
immediately prior to such merger, consolidation, or other similar transaction do
not, immediately thereafter, own, directly or indirectly, more than 50% of the
combined voting power entitled to vote generally in the election of directors of
the merged or consolidated company;
(c)    within any 24-month period, the persons who were directors of the Company
at the beginning of such period (the " Incumbent Directors ") shall cease to
constitute at least a majority of the Board, provided that any director elected
or nominated for election to the Board by a majority of the Incumbent Directors
then still in office shall be deemed to be an Incumbent Director for purposes of
this clause 14.4(c); or
(d)    the sale, transfer or other disposition of all or substantially all of
the assets of the Company to one or more persons or entities that are not,
immediately prior to such sale, transfer or other disposition, Affiliates of the
Company.
ARTICLE XV    
General
15.1
Notices.

(a)    Any notice or other document which has to be given to an Eligible
Employee or Participant under or in connection with the Plan may be:
(i)    delivered or mailed to him at his address according to the records of his
employing company, or
(ii)    sent by e-mail or fax to any e-mail address or fax number which,
according to the records of his employing company, is used by him, or
(iii)    in either case such other address which the Company considers
appropriate.
(b)    Any notice or other document which has to be given to the Company or
other appointed agent under or in connection with the Plan may be delivered or
mailed to it at such place as the Committee or its duly appointed agent may from
time to time decide and notify to Participants or sent by e-mail or fax to any
e-mail address or fax number notified by the Committee or its duly appointed
agent to the sender.
(c)    Notices mailed will be deemed to have been given on the earlier of the
date of actual receipt and the seventh day after the mailing date.
(d)    Notices sent by e-mail or fax, in the absence of evidence of
non-delivery, will be deemed to have been received on the day after sending.

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15.2
Documents sent to shareholders. The Company may send to Participants copies of
any documents or notices normally sent to the holders of its Shares.

15.3
Costs. The Company or a Participating Company (as appropriate) will pay the
costs of establishing and administering the Plan. The Company may require each
other Participating Company to reimburse the Company for any costs incurred in
connection with the grant of Purchase Rights to, or exercise of Purchase Rights
by, employees of that Participating Company.

15.4
Terms of employment.

(a)    For the purposes of this Section 15.4, "Employee" means any employee of
the Company or any Subsidiary or associated company of the Company.
(b)    This Section 15.4 applies during an Employee's employment and after the
termination of an Employee's employment, whether or not the termination is
lawful.
(c)    Nothing in this Plan or the operation of the Plan forms part of any
contract of employment of an Employee. The rights and obligations arising from
the employment relationship between the Employee and the Participating Company
are separate from, and are not affected by, the Plan. Participation in the Plan
does not create any right to, or expectation of, continued employment.
(d)    Subject to Section 4.1, no Employee has a right to participate in the
Plan. Participation in the Plan or the grant of Purchase Rights on a particular
basis in any year does not create any right to or expectation of participation
in the Plan or the grant of Purchase Rights on the same basis, or at all, in any
future year.
(e)    The terms of the Plan do not entitle the Employee to the exercise of any
discretion by the Company, a Participating Company or the Committee in his
favor.
(f)    No Employee will have a claim or right of action in respect of any
decision, omission or exercise of discretion, not relating to an existing
Purchase Right, which may operate to the disadvantage of the Employee.
(g)    No Employee has any right to compensation for any loss in relation to the
Plan, including any loss in relation to:
(i)    any loss or reduction of rights or expectations under the Plan in any
circumstances (including lawful or unlawful termination of employment);
(ii)    any exercise of discretion or a decision made in relation to a Purchase
Right or to the Plan, or any failure to exercise discretion or make a decision;
or
(iii)    the operation, suspension, termination or amendment of the Plan.
(h)    Participation in the Plan is permitted only on the basis that the
Participant accepts all the provisions of this Plan, including this
Section 15.4. By participating in the Plan, an Employee waives all rights under
the Plan, other than the rights expressly granted herein or in any invitation to
participate in accordance with the express terms of

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this Plan in consideration for, and as a condition of, the grant of a Purchase
Right under the Plan.
(i)    Nothing in this Plan confers any benefit, right or expectation on a
person who is not an Employee. No such third party has any rights to enforce any
term of this Plan. This does not affect any other right or remedy of a third
party which may exist.
(j)    Benefits under this Plan shall not be taken into account for the purpose
of determining any benefits under any benefit plan unless such plan (or
arrangement) specifically provides otherwise.
15.5
Corporate actions. The existence of any Purchase Right shall not affect in any
way the right or power of the Company or its shareholders to make or authorize
any or all adjustments, recapitalizations, reorganizations or other changes in
the Company's capital structure or preferred or prior preference stock ahead of
or convertible into, or otherwise affecting, the Shares or the rights of them,
or the dissolution or liquidation of the Company or any sale or transfer of all
or any part of its assets or business, or any other corporate act or proceeding,
whether of a similar character or otherwise.

15.6
Employee trust. The Company and any Subsidiary may provide money to the trustee
of any trust or any other person to enable the trust or him to acquire Shares
for the purposes of the Plan, or enter into any guarantee or indemnity for those
purposes, to the extent permitted by law.

15.7
Withholding. Unless the Participant discharges the liability himself, the
Company or a Participating Company, the trustee of any trust or other third
party administrator may withhold any amount and make any arrangements as it
considers necessary to meet any tax withholding obligation of the Company in
respect of Purchase Rights. These arrangements include the sale of any Shares on
behalf of a Participant.

15.8
Data privacy. By participating in the Plan the Participant consents to the
holding and processing of personal data provided by the Participant to the
Company, any Subsidiary or associated company trustee or third party service
provider, for all purposes relating to the operation of the Plan. These include,
but are not limited to:

(a)    administering and maintaining Participant records;
(b)    providing information to an associated company, trustees of any trust,
registrars, brokers or other third party administrators of the Plan;
(c)    providing information to future purchasers of the Company or the business
in which the Participant works; and
(d)    transferring information about the Participant to a country or territory
outside the United States of America that may not provide the same statutory
protection for the information as the Participant's home country.

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15.9
Legal compliance. If in the opinion of counsel for the Company, it is necessary
or desirable in order to comply with applicable laws or regulations relating to
securities or exchange control, the Company may:

(a)    require the Participant to provide confirmation of compliance with such
local laws and regulations, without which the Purchase Right may lapse; and/or
(b)    upon the exercise of the Purchase Right, substitute cash equal to the
value of any spread (less any tax and social security contributions) for any
Shares.
15.10
Crediting Service. In the event of the adoption of the Plan by an Acquiring
Company, the merger or consolidation of another company with a Participating
Company, or the acquisition by the Company of another company, the Committee
shall determine the extent, if any, to which employees affected by the event
shall be credited under the Plan with service rendered to his employer prior to
the event.

ARTICLE XVI    
Administration
16.1
Committee's powers. The Committee will administer the Plan. Subject to the
provisions of the Plan, the Committee has the power:

(a)    to determine when and how Purchase Rights to acquire Shares will be
granted and the provisions of each Offering of such Purchase Rights;
(b)    to convert, when necessary, any value denominated in US dollars and cents
to an equivalent currency based on a currency exchange rate that it selects for
such purpose;
(c)    to designate from time to time which Subsidiaries shall become
Participating Companies;
(d)    to construe and interpret the Plan and Purchase Rights granted under the
Plan, and to establish, amend and revoke rules and regulations for the
administration of the Plan. The Committee, in the exercise of this power, may
correct any defect, omission or inconsistency in the Plan; and
(e)    generally, to exercise such powers and to perform such acts as it deems
necessary or expedient to promote the best interests of the Company and other
Participating Companies and to carry out the intent that the Plan be treated as
an "employee stock purchase plan" within the meaning of Section 423 of the Code.

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16.2
Committee's decision final and binding. All determinations of the Committee are
final and binding on Employees, Participants and any other party claiming a
right or a benefit under the Plan or in connection with any Offering.

16.3
Indemnification of Committee. To the extent permitted by law, the Company shall
indemnify the members of the Committee from all claims for liability, loss or
damage (including payment of expenses in connection with the defense again such
claim) arising from any act or failure to act under the Plan, provided any such
member shall give the Company an opportunity, at its own expense, to handle and
defend such claims. This shall not include actions which could be held to
include criminal liability under applicable law. The provisions of this
Section 16.3 shall survive the termination of the Plan under Article 17.

ARTICLE XVII    
Changing the Plan and Termination
17.1
Changing the Plan. The Committee may at any time change the Plan in any way. The
Company shall obtain stockholder approval of such amendments in such a manner
and to such a degree as required and to the extent necessary to comply with
Section 423 of the Code (or any other applicable law).

17.2
Notice. The Committee may give written notice of any changes made to any
Participant affected.

17.3
Termination of the Plan. The Plan will terminate on 15 May 2018, but the
Committee may terminate the Plan at any time before that date. However, Purchase
Rights granted before such termination will continue to be valid and exercisable
as described in the terms of this Plan.

ARTICLE XVIII    
Overseas Participants
18.1
Establishing plans. The Committee may establish plans to operate overseas either
by scheduling sub-plans to the Plan, or adopting separate plans in accordance
with the authority given by shareholders (together " Sub-Plans "). This
includes:

(a)    designating from time to time which Subsidiaries will participate in a
particular Sub-Plan;
(b)    determining procedures for Eligible Employees to enroll in or withdraw
from a Sub-Plan, setting or changing payroll deduction percentages, and
obtaining necessary tax withholdings; and
(c)    allocating the available Shares under the Plan to the Sub-Plans for
particular offerings.

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18.2
Overseas laws. If, in the opinion of the Committee, local laws or regulations
cause participation in the Plan to become unduly onerous for the Company, a
Participating Company or a Participant, the relevant Purchase Right will not be
exercised and all Contributions accumulated during the Offering (reduced to the
extent, if any, such deductions have been used to acquire Shares) will be
distributed to the Participant with any interest (if applicable). No right to
compensation for loss of benefit will arise as a result of such an event.

ARTICLE XIX    
Governing Law
The laws of the state of Delaware (without regard to its conflicts of laws
rules) govern the Plan and all Purchase Rights and their construction. The
courts of the state of Delaware have non-exclusive jurisdiction in respect of
disputes arising under or in connection with the Plan or any Purchase Right.

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