Exhibit 10.1


 


WABASH NATIONAL
CORPORATION

2017 OMNIBUS INCENTIVE PLAN


 


1.          Establishment,
Purpose, Duration.


 


a.           Establishment.
Wabash National Corporation (the “Company”), hereby establishes an equity compensation plan to be known as the Wabash
National Corporation 2017 Omnibus Incentive Plan (the “Plan”). The Plan is effective as of February 22, 2017 (the “Effective
Date”), subject to the approval of the Plan by the stockholders of the Company (the date of such stockholder approval being
the “Approval Date”). Definitions of capitalized terms used in the Plan are contained in Section 2 of the Plan.


 


b.           Purpose.
The purpose of the Plan is to attract and retain Directors, key Employees and Consultants of the Company and its Subsidiaries and
to provide to such persons incentives and rewards for superior performance.


 


c.           Duration.
No Award may be granted under the Plan after the day immediately preceding the tenth (10th) anniversary of the Effective Date,
or such earlier date as the Board shall determine. The Plan will remain in effect with respect to outstanding Awards until no Awards
remain outstanding.


 


d.           Termination
of 2011 Plan. If the Company’s stockholders approve the Plan, the Wabash National Corporation 2011 Omnibus Incentive
Plan (the “2011 Plan”) will terminate in its entirety effective on the Approval Date; provided that all outstanding
awards under the 2011 Plan as of the Approval Date shall remain outstanding and shall be administered and settled in accordance
with the provisions of the 2011 Plan.


 


2.          Definitions.
As used in the Plan, the following definitions shall apply.


 


“Applicable Laws”
means the applicable requirements relating to the administration of equity-based compensation plans under U.S. state corporate
laws, U.S. federal and state securities laws, the Code, the rules of any stock exchange or quotation system on which the Shares
are listed or quoted and the applicable laws of any other country or jurisdiction where Awards are granted under the Plan.


 


“Approval Date”
has the meaning given such term in Section 1(a).


 


“Award” means
an award of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock
Units, Other Share-Based Awards, or Cash Awards granted pursuant to the terms and conditions of the Plan.


 


“Award Agreement”
means either: (a) an agreement, in written or electronic format, entered into by the Company and a Participant setting forth the
terms and provisions applicable to an Award granted under the Plan; or (b) a statement, in written or electronic format, issued
by the Company to a Participant describing the terms and provisions of such Award, which need not be signed by the Participant.


 


“Board” means
the Board of Directors of the Company.


 




     


     


    

  


“Cash Award”
shall mean a cash Award granted pursuant to Section 11 of the Plan.


 


“Cause” shall
mean, with respect to any Participant, as determined by the Committee and unless otherwise provided in an applicable Award Agreement
or other written agreement between such Participant and the Company or a Subsidiary, or in a Company severance plan applicable
to such Participant, (a) the Participant’s willful and continued failure to perform his or her principal duties (other than
any such failure resulting from vacation, leave of absence, or incapacity due to injury, accident, illness, or physical or mental
capacity) as reasonably determined by the Committee in good faith after the Participant has been given written, dated notice by
the Committee specifying in reasonable detail his or her failure to perform and specifying a reasonable period of time, but in
any event not less than twenty (20) business days, to correct the problems set forth in the notice; (b) the Participant’s
chronic alcoholism or addiction to non-medically prescribed drugs; (c) the Participant’s theft or embezzlement of the Company’s
(or a Subsidiary’s) money, equipment, securities, or other property; (d) the conviction of the Participant of, or the entry
of a plea of guilty or nolo contendere by the Participant to, any felony or misdemeanor involving moral turpitude or dishonesty;
or (e) the Participant’s material breach of any employment or similar agreement with the Company or a Subsidiary, and the
failure of the Participant to cure such breach within ten (10) business days of written notice thereof specifying the breach. No
act or omission on the part of a Participant shall be considered willful unless it is done by the Participant in bad faith or with
Participant out reasonable belief that the Participant’s action was in the best interests of the Company. Any act or omission
based upon authority given pursuant to a resolution duly adopted by the Committee or the Board or based upon the advice of counsel
of the Company shall be conclusively deemed to be done by the Participant in good faith and in the best interests of the Company.


 


“Change in Control”
means, unless otherwise provided in an applicable Award Agreement, (a) the dissolution or liquidation of the Company or a merger,
consolidation, or reorganization of the Company with one or more other entities in which the Company is not the surviving entity
(but, for purposes of clarity, a Change in Control does not include a mere change in state of incorporation or similar transaction),
(b) a sale of substantially all of the assets of the Company to another person or entity, or (c) any transaction (including without
limitation a merger or reorganization in which the Company is the surviving entity) which results in any person or entity owning
50% or more of the combined voting power of all classes of stock of the Company.


 


“Code” means
the Internal Revenue Code of 1986, as amended.


 


“Committee”
means the Compensation Committee of the Board or such other committee or subcommittee of the Board as may be duly appointed to
administer the Plan and having such powers in each instance as shall be specified by the Board. To the extent required by Applicable
Laws, the Committee shall consist of two or more members of the Board, each of whom is a “non-employee director” within
the meaning of Rule 16b-3 promulgated under the Exchange Act, an “outside director” within the meaning of regulations
promulgated under Section 162(m) of the Code, and an “independent director” within the meaning of applicable rules
of any securities exchange upon which Shares are listed.


 




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“Company”
has the meaning given such term in Section 1(a) and any successor thereto.


 


“Consultant”
means an independent contractor who (a) performs services for the Company or a Subsidiary in a capacity other than as an Employee
or Director, and (b) qualifies as a consultant under the applicable rules of the SEC for registration of shares on a Form S-8 Registration
Statement.


 


“Date of Grant”
means the date specified by the Committee on which the grant of an Award is to be effective. The Date of Grant shall not be earlier
than the date of the resolution and action therein by the Committee. In no event shall the Date of Grant be earlier than the Effective
Date.


 


“Director”
means any individual who is a member of the Board and who is not an Employee.


 


“Effective Date”
has the meaning given such term in Section 1(a).


 


“Employee”
means any employee of the Company or a Subsidiary; provided, however, that for purposes of determining whether any person
may be a Participant for purposes of any grant of Incentive Stock Options, the term “Employee” has the meaning given
to such term in Section 3401(c) of the Code, as interpreted by the regulations thereunder and Applicable Law.


 


“Exchange Act”
means the Securities Exchange Act of 1934 and the rules and regulations thereunder, as such law, rules and regulations may be amended
from time to time.


 


“Fair Market Value”
means the value of one Share on any relevant date, determined under the following rules: (a) the closing sale price per Share on
that date as reported on the New York Stock Exchange or such other principal exchange on which Shares are then trading, if any,
or if there are no sales on that date, on the next preceding trading day during which a sale occurred; (b) if the Shares are not
reported on a principal exchange or national market system, the average of the closing bid and asked prices last quoted on that
date by an established quotation service for over-the-counter securities; or (c) if neither (a) nor (b) applies, (i) with respect
to Stock Options, Stock Appreciation Rights and any Award of stock rights that is subject to Section 409A of the Code, the value
as determined by the Committee through the reasonable application of a reasonable valuation method, taking into account all information
material to the value of the Company, within the meaning of Section 409A of the Code, and (ii) with respect to all other Awards,
the fair market value as determined by the Committee in good faith.


 


“Good Reason”
shall be applicable under the Plan with respect to a Participant only to the extent provided in the applicable Award Agreement,
or if such Participant is a party to an applicable employment agreement or other written agreement with the Company or a Subsidiary
that defines such term, or if such Participant participates in a Company severance plan that defines such term, in which case,
“Good Reason” shall have the meaning given such term with respect to such Participant in the applicable Award
Agreement, employment agreement, other written agreement or severance plan.


 




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“Incentive Stock
Option” or “ISO” means a Stock Option that is designated as an Incentive Stock Option and that is intended to
meet the requirements of Section 422 of the Code.


 


“Nonqualified Stock
Option” means a Stock Option that is not intended to meet the requirements of Section 422 of the Code or otherwise does
not meet such requirements.


 


“Other Share-Based
Award” means an equity-based or equity-related Award not otherwise described by the terms of the Plan, granted in accordance
with the terms and conditions set forth in Section 10.


 


“Participant”
means any eligible individual as set forth in Section 5 who holds one or more outstanding Awards.


 


“Performance-Based
Exception” means the performance-based exception from the tax deductibility limitations of Section 162(m) of the Code.


 


“Performance Objectives”
means the performance objective or objectives established by the Committee with respect to an Award granted pursuant to the Plan.
Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments,
units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual
Participant, and may include, without limitation, Performance Objectives based on the criteria set forth in Section 14(b). Performance
Objectives may be made relative to the performance of a group of comparable companies, or a published or special index that the
Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock
market indices. Performance Objectives may be stated as a combination of the listed factors.


 


“Plan” means
this Wabash National Corporation 2017 Omnibus Incentive Plan, as amended from time to time.


 


“Prior Plans”
means the 2011 Plan and the Wabash National Corporation 2007 Omnibus Incentive Plan.


 


“Restricted Stock”
means Shares granted or sold pursuant to Section 8 as to which neither the substantial risk of forfeiture nor the prohibition
on transfers referred to in such Section 8 has expired.


 


“Restricted Stock
Unit” means a grant or sale of the right to receive Shares or cash at the end of a specified restriction period made pursuant
to Section 9.


 


“SEC” means
the United States Securities and Exchange Commission.


 


“Share” means
a share of common stock of the Company, $0.01 par value per share, or any security into which such Share may be changed by reason
of any transaction or event of the type referred to in Section 16.


 


“Stock Appreciation
Right” means a right granted pursuant to Section 7.


 




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“Stock Option”
means a right to purchase a Share granted to a Participant under the Plan in accordance with the terms and conditions set forth
in Section 6. Stock Options may be either Incentive Stock Options or Nonqualified Stock Options.


 


“Subsidiary”
means: (a) with respect to an Incentive Stock Option, a “subsidiary corporation” as defined under Section 424(f) of
the Code; and (b) for all other purposes under the Plan, any corporation or other entity in which the Company owns, directly or
indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise.


 


“Ten Percent Stockholder”
shall mean any Participant who owns more than 10% of the combined voting power of all classes of stock of the Company, within the
meaning of Section 422 of the Code.


 


3.          Shares
Available Under the Plan.


 


a.           Shares
Available for Awards. The maximum number of Shares that may be issued or delivered pursuant to Awards under the Plan shall
be 3,150,000 (all of which may be granted with respect to Incentive Stock Options), increased by the Shares covered by any award
outstanding under a Prior Plan on the Approval Date that is forfeited, canceled, surrendered, settled in cash or otherwise terminated
thereafter without the issuance of such Shares. Shares issued or delivered pursuant to an Award may be authorized but unissued
Shares, treasury Shares, including Shares purchased in the open market, or a combination of the foregoing. The aggregate number
and kind of Shares available for issuance or delivery under the Plan shall be subject to adjustment as provided in Section 16.


 


b.           Share
Counting. The following Shares shall not count against the Share limit in Section 3(a): (i) Shares covered by an Award that
expires or is forfeited, canceled, surrendered, or otherwise terminated without the issuance of such Shares; (ii) Shares covered
by an Award that is settled only in cash; (iii) Shares withheld by the Company or any Subsidiary to satisfy a tax withholding obligation
with respect to an Award other than a Stock Option or Stock Appreciation Right; and (iv) Shares granted through the assumption
of, or in substitution for, outstanding awards granted by a company to individuals who become Employees, Directors or Consultants
as the result of a merger, consolidation, acquisition or other corporate transaction involving such company and the Company or
any of its Subsidiaries (except as may be required by reason of the rules and regulations of any stock exchange or other trading
market on which the Shares are listed). This Section 3(b) shall apply to the number of Shares reserved and available for Incentive
Stock Options only to the extent consistent with applicable Treasury regulations relating to Incentive Stock Options under the
Code.


 


c.           Prohibition
of Certain Share Recycling. The following Shares subject to an Award shall not again be available for grant as described above,
regardless of whether those Shares are actually issued or delivered to the Participant: (i) Shares tendered by the Participant
or withheld by the Company or any Subsidiary in payment of the exercise price of a Stock Option; (ii) Shares tendered by the Participant
or withheld by the Company or any Subsidiary to satisfy a tax withholding obligation with respect to a Stock Option or Stock Appreciation
Right; and (iii) Shares that are repurchased by the Company with Stock Option proceeds. Without limiting the foregoing, with respect
to any Stock Appreciation Right that is settled in Shares, the full number of Shares subject to the Award shall count against the
number of Shares available for Awards under the Plan regardless of the number of Shares used to settle the Stock Appreciation Right
upon exercise.


 




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d.           Per
Participant Limits for Certain Performance-Based Awards. Subject to adjustment as provided in Section 16 of the Plan, the following
limits shall apply with respect to Awards to Employees that are intended to qualify for the Performance-Based Exception: (i) the
maximum aggregate number of Shares that may be subject to Stock Options or Stock Appreciation Rights granted in any calendar year
to any one Participant shall be 750,000 Shares; (ii) the maximum aggregate number of Shares of Restricted Stock and Shares issuable
or deliverable under Restricted Stock Units and Other Share-Based Awards granted in any calendar year to any one Participant shall
be 650,000 Shares (or 700,000 Shares in the year that the Participant is first employed by the Company or a Subsidiary); and (iii)
the maximum aggregate cash compensation that can be paid pursuant to Cash Awards or other Awards granted in any calendar year to
any one Participant shall be $2,500,000 for Awards with a performance period not exceeding twelve months, and $5,000,000 for Awards
with a performance period exceeding twelve months.


 


e.           Limit
on Director Awards. Notwithstanding any other provision of the Plan to the contrary, the aggregate grant date fair value (determined
as of the applicable Date(s) of Grant in accordance with applicable financial accounting rules) of all Awards granted to any Director
during any single calendar year, taken together with any cash fees paid to such person during such calendar year, shall not exceed
$350,000.


 


		4.	Administration of the Plan.



 


a.           In
General. The Plan shall be administered by the Committee. Except as otherwise provided by the Board, the Committee shall have
full and final authority in its discretion to take all actions determined by the Committee to be necessary in the administration
of the Plan, including, without limitation, discretion to: select Award recipients; determine the sizes and types of Awards; determine
the terms and conditions of Awards in a manner consistent with the Plan; grant waivers of terms, conditions, restrictions and limitations
applicable to any Award, or accelerate the vesting or exercisability of any Award, in a manner consistent with the Plan; construe
and interpret the Plan and any Award Agreement or other agreement or instrument entered into under the Plan; establish, amend,
or waive rules and regulations for the Plan’s administration; and take such other action, not inconsistent with the terms
of the Plan, as the Committee deems appropriate. To the extent permitted by Applicable Laws, the Committee may, in its discretion,
delegate to one or more Directors or Employees any of the Committee’s authority under the Plan. The acts of any such delegates
shall be treated hereunder as acts of the Committee with respect to any matters so delegated. 


 


b.           Determinations.
The Committee shall have no obligation to treat Participants or eligible Participants uniformly, and the Committee may make determinations
under the Plan selectively among Participants who receive, or Employees or Directors who are eligible to receive, Awards (whether
or not such Participants or eligible Employees or Directors are similarly situated). All determinations and decisions made by the
Committee pursuant to the provisions of the Plan and all related orders and resolutions of the Committee shall be final, conclusive
and binding on all persons, including the Company, its Subsidiaries, stockholders, Directors, Employees, Participants and their
estates and beneficiaries.


 




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c.           Authority
of the Board. The Board may reserve to itself any or all of the authority or responsibility of the Committee under the Plan
or may act as the administrator of the Plan for any and all purposes. To the extent the Board has reserved any such authority or
responsibility or during any time that the Board is acting as administrator of the Plan, it shall have all the powers of the Committee
hereunder, and any reference herein to the Committee (other than in this Section 4(c)) shall include the Board. To the extent that
any action of the Board under the Plan conflicts with any action taken by the Committee, the action of the Board shall control.


 


5.          Eligibility
and Participation. Each Employee, Director and Consultant shall be eligible to participate in the Plan upon selection by the
Committee. Subject to the provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors
and Consultants those to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms
permissible by Applicable Law and the amount of each Award.


 


6.          Stock
Options. Subject to the terms and conditions of the Plan, Stock Options may be granted to Participants in such number, and
upon such terms and conditions, as shall be determined by the Committee in its sole discretion.


 


a.           Award
Agreement. Each Stock Option shall be evidenced by an Award Agreement that shall specify the exercise price, the term of the
Stock Option, the number of Shares covered by the Stock Option, the conditions upon which the Stock Option shall become vested
and exercisable and such other terms and conditions as the Committee shall determine and which are not inconsistent with the terms
and conditions of the Plan (including, but not limited to, the minimum vesting provisions of Section 12). The Award Agreement also
shall specify whether the Stock Option is intended to be an Incentive Stock Option or a Nonqualified Stock Option. No dividend
equivalents may be granted with respect to the Shares underlying a Stock Option.


 


b.           Exercise
Price. The exercise price per Share of a Stock Option shall be determined by the Committee at the time the Stock Option is
granted and shall be specified in the related Award Agreement; provided, however, that in no event shall the exercise price per
Share of any Stock Option be less than one hundred percent (100%) of the Fair Market Value of a Share on the Date of Grant.



 


c.           Term.
The term of a Stock Option shall be determined by the Committee and set forth in the related Award Agreement; provided,
however, that in no event shall the term of any Stock Option exceed ten (10) years from its Date of Grant.


 


d.           Exercisability.
Stock Options shall become vested and exercisable at such times and upon such terms and conditions as shall be determined by the
Committee and set forth in the related Award Agreement. Such terms and conditions may include, without limitation, the satisfaction
of (a) one or more Performance Objectives, and (b) time-based vesting requirements.


 




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e.           Exercise
of Stock Options. Except as otherwise provided in the Plan or in a related Award Agreement, a Stock Option may be exercised
for all or any portion of the Shares for which it is then exercisable. A Stock Option shall be exercised by the delivery of a notice
of exercise to the Company or its designee in a form specified by the Company which sets forth the number of Shares with respect
to which the Stock Option is to be exercised and full payment of the exercise price for such Shares. The exercise price of a Stock
Option may be paid, in the discretion of the Committee and as set forth in the applicable Award Agreement: (i) in cash or its equivalent;
(ii) by tendering (either by actual delivery or attestation) previously acquired Shares having an aggregate Fair Market Value at
the time of exercise equal to the aggregate exercise price; (iii) by a cashless exercise (including by withholding Shares deliverable
upon exercise and through a broker-assisted arrangement to the extent permitted by Applicable Laws); (iv) by a combination of the
methods described in clauses (i), (ii) and/or (iii); or (v) through any other method approved by the Committee in its sole discretion.
As soon as practicable after receipt of the notification of exercise and full payment of the exercise price, the Company shall
cause the appropriate number of Shares to be issued to the Participant.


 


f.            Special
Rules Applicable to Incentive Stock Options. Notwithstanding any other provision in the Plan to the contrary:


 


(i)          Incentive
Stock Options may be granted only to Employees of the Company and its Subsidiaries. The terms and conditions of Incentive Stock
Options shall be subject to and comply with the requirements of Section 422 of the Code.


 


(ii)         To
the extent that the aggregate Fair Market Value of the Shares (determined as of the Date of Grant) with respect to which an Incentive
Stock Option is exercisable for the first time by any Participant during any calendar year (under all plans of the Company and
its Subsidiaries) is greater than $100,000 (or such other amount specified in Section 422 of the Code), as calculated under Section
422 of the Code, then the Stock Option shall be treated as a Nonqualified Stock Option.


 


(iii)        No
Incentive Stock Option shall be granted to any Participant who, on the Date of Grant, is a Ten Percent Stockholder, unless (x)
the exercise price per Share of such Incentive Stock Option is at least one hundred and ten percent (110%) of the Fair Market Value
of a Share on the Date of Grant, and (y) the term of such Incentive Stock Option shall not exceed five (5) years from the Date
of Grant.


 


7.          Stock
Appreciation Rights. Subject to the terms and conditions of the Plan, Stock Appreciation Rights may be granted to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.


 


a.           Award
Agreement. Each Stock Appreciation Right shall be evidenced by an Award Agreement that shall specify the exercise price, the
term of the Stock Appreciation Right, the number of Shares covered by the Stock Appreciation Right, the conditions upon which the
Stock Appreciation Right shall become vested and exercisable and such other terms and conditions as the Committee shall determine
and which are not inconsistent with the terms and conditions of the Plan (including, but not limited to, the minimum vesting provisions
of Section 12). No dividend equivalents may be granted with respect to the Shares underlying a Stock Appreciation Right.


 




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b.           Exercise
Price. The exercise price per Share of a Stock Appreciation Right shall be determined by the Committee at the time the Stock
Appreciation Right is granted and shall be specified in the related Award Agreement; provided, however, that in no event shall
the exercise price per Share of any Stock Appreciation Right be less than one hundred percent (100%) of the Fair Market Value of
a Share on the Date of Grant.


 


c.           Term.
The term of a Stock Appreciation Right shall be determined by the Committee and set forth in the related Award Agreement; provided,
however, that in no event shall the term of any Stock Appreciation Right exceed ten (10) years from its Date of Grant.


 


d.           Exercisability
of Stock Appreciation Rights. A Stock Appreciation Right shall become vested and exercisable at such times and upon such terms
and conditions as may be determined by the Committee and set forth in the related Award Agreement. Such terms and conditions may
include, without limitation, the satisfaction of (i) one or more Performance Objectives, and (ii) time-based vesting requirements.


 


e.           Exercise
of Stock Appreciation Rights. Except as otherwise provided in the Plan or in a related Award Agreement, a Stock Appreciation
Right may be exercised for all or any portion of the Shares for which it is then exercisable. A Stock Appreciation Right shall
be exercised by the delivery of a notice of exercise to the Company or its designee in a form specified by the Company which sets
forth the number of Shares with respect to which the Stock Appreciation Right is to be exercised. Upon exercise, a Stock Appreciation
Right shall entitle a Participant to an amount equal to (a) the excess of (i) the Fair Market Value of a Share on the exercise
date over (ii) the exercise price per Share, multiplied by (b) the number of Shares with respect to which the Stock Appreciation
Right is exercised. A Stock Appreciation Right may be settled in whole Shares, cash or a combination thereof, as specified by the
Committee in the related Award Agreement.


 


8.          Restricted
Stock. Subject to the terms and conditions of the Plan, Restricted Stock may be granted or sold to Participants in such number
of Shares, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.


 


a.           Award
Agreement. Each Restricted Stock Award shall be evidenced by an Award Agreement that shall specify the number of Shares of
Restricted Stock, the restriction period(s) applicable to the Restricted Stock, the conditions upon which the restrictions on the
Restricted Stock will lapse and such other terms and conditions as the Committee shall determine and which are not inconsistent
with the terms and conditions of the Plan (including, but not limited to, the minimum vesting provisions of Section 12).


 


b.           Terms,
Conditions and Restrictions. The Committee shall impose such other terms, conditions and/or restrictions on any Restricted
Stock as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase price for each
Share of Restricted Stock, restrictions based on the achievement of specific Performance Objectives, time-based restrictions or
holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock. Unless otherwise
provided in the related Award Agreement or required by applicable law, the restrictions imposed on Restricted Stock shall lapse
upon the expiration or termination of the applicable restriction period and the satisfaction of any other applicable terms and
conditions.


 




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c.           Custody
of Certificates. To the extent deemed appropriate by the Committee, the Company may retain any certificates representing Restricted
Stock in the Company’s possession until such time as all terms, conditions and/or restrictions applicable to such Restricted
Stock have been satisfied or lapse.


 


d.           Rights
Associated with Restricted Stock during Restriction Period. During any restriction period applicable to Restricted Stock: (i)
the Restricted Stock may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated; (ii) unless otherwise
provided in the related Award Agreement, the Participant shall be entitled to exercise full voting rights associated with such
Restricted Stock; and (iii) the Participant shall be entitled to all dividends and other distributions paid with respect to such
Restricted Stock during the restriction period; provided, however, that any dividends with respect to unvested Restricted Stock
shall be accumulated or deemed reinvested in additional Restricted Stock until such Award is earned and vested, and shall be subject
to the same terms and conditions as the original Award (including service-based vesting conditions and any Performance Objectives).


 


9.          Restricted
Stock Units. Subject to the terms and conditions of the Plan, Restricted Stock Units may be granted or sold to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.


 


a.           Award
Agreement. Each Restricted Stock Unit Award shall be evidenced by an Award Agreement that shall specify the number of units,
the restriction period(s) applicable to the Restricted Stock Units, the conditions upon which the restrictions on the Restricted
Stock Units will lapse, the time and method of payment of the Restricted Stock Units, and such other terms and conditions as the
Committee shall determine and which are not inconsistent with the terms and conditions of the Plan (including, but not limited
to, the minimum vesting provisions of Section 12).


 


b.           Terms,
Conditions and Restrictions. The Committee shall impose such other terms, conditions and/or restrictions on any Restricted
Stock Units as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase price for
each Restricted Stock Unit, restrictions based on the achievement of specific Performance Objectives or time-based restrictions
or holding requirements.


 


c.           Form
of Settlement. Restricted Stock Units may be settled in whole Shares, cash or a combination thereof, as specified by the Committee
in the related Award Agreement.


 


d.           
Dividend Equivalents. Restricted Stock Units may provide the Participant with dividend equivalents, payable either in cash
or in additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement; provided,
however, that any dividend equivalents with respect to unvested Restricted Stock Units shall be accumulated or deemed reinvested
in additional Restricted Stock Units until such Award is earned and vested, and shall be subject to the same terms and conditions
as the original Award (including service-based vesting conditions and any Performance Objectives).


 




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10.         Other
Share-Based Awards. Subject to the terms and conditions of the Plan, Other Share-Based Awards may be granted to Participants
in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion. Other Share-Based
Awards are Awards that are valued in whole or in part by reference to, or otherwise based on the Fair Market Value of, Shares,
and shall be in such form as the Committee shall determine, including without limitation, unrestricted Shares or time-based or
performance-based units that are settled in Shares and/or cash.


 


a.           Award
Agreement. Each Other Share-Based Award shall be evidenced by an Award Agreement that shall specify the terms and conditions
upon which the Other Share-Based Award shall become vested, if applicable, the time and method of settlement, the form of settlement
and such other terms and conditions as the Committee shall determine and which are not inconsistent with the terms and conditions
of the Plan (including, but not limited to, the minimum vesting provisions of Section 12).


 


b.           Form
of Settlement. An Other Share-Based Award may be settled in whole Shares, cash or a combination thereof, as specified by the
Committee in the related Award Agreement.


 


c.           Dividend
Equivalents. Other Share-Based Awards may provide the Participant with dividend equivalents, on payable either in cash or in
additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement; provided,
however, that any dividend equivalents with respect to unvested Other Share-Based Awards shall be accumulated or deemed reinvested
until such Award is earned and vested, and shall be subject to the same terms and conditions as the original Award (including service-based
vesting conditions and any Performance Objectives).


 


11.         Cash
Awards. Subject to the terms and conditions of the Plan, Cash Awards may be granted to Participants in such amounts and upon
such other terms and conditions as shall be determined by the Committee in its sole discretion. Each Cash Award shall be evidenced
by an Award Agreement that shall specify the payment amount or payment range, the time and method of settlement and the other terms
and conditions, as applicable, of such Award which may include, without limitation, restrictions based on the achievement of specific
Performance Objectives.


 


12.         Minimum
Vesting Provisions. Subject to Sections 19, 21 and 22(b) of the Plan, (a) no condition on vesting or exercisability of an Award,
whether based on continued employment or other service or based upon the achievement of Performance Objectives, shall be based
on service or performance (as applicable) over a period of less than one year, and (b) upon and after such minimum one-year period,
restrictions on vesting or exercisability may lapse on a pro-rated, graded, or cliff basis as specified in the Award Agreement;
provided, however, that Awards covering up to five percent (5%) of the Shares reserved for issuance pursuant to Section
3(a) may be granted under this Plan as unrestricted Shares or otherwise as Awards with a performance period or vesting period of
less than one year.


 




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13.         Compliance
with Section 409A. Awards granted under the Plan shall be designed and administered in such a manner that they are either exempt
from the application of, or comply with, the requirements of Section 409A of the Code. To the extent that the Committee determines
that any award granted under the Plan is subject to Section 409A of the Code, the Award Agreement shall incorporate the terms and
conditions necessary to avoid the imposition of an additional tax under Section 409A of the Code upon a Participant. Notwithstanding
any other provision of the Plan or any Award Agreement (unless the Award Agreement provides otherwise with specific reference to
this Section 13): (a) an Award shall not be granted, deferred, accelerated, extended, paid out, settled, substituted or modified
under the Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon a Participant;
and (b) if an Award is subject to Section 409A of the Code, and if the Participant holding the award is a “specified employee”
(as defined in Section 409A of the Code, with such classification to be determined in accordance with the methodology established
by the Company), then, to the extent required to avoid the imposition of an additional tax under Section 409A of the Code upon
a Participant, no distribution or payment of any amount shall be made before the date that is six (6) months following the date
of such Participant’s “separation from service” (as defined in Section 409A of the Code) or, if earlier, the
date of the Participant’s death. Although the Company intends to administer the Plan so that Awards will be exempt from,
or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that any Award under the Plan will
qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal, state, local, or non-United
States law. The Company shall not be liable to any Participant for any tax, interest, or penalties the Participant might owe as
a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.


 


14.         Compliance
with Section 162(m).


 


a.           In
General. Notwithstanding anything in the Plan to the contrary, Awards may be granted in a manner that is intended to qualify
for the Performance-Based Exception. As determined by the Committee in its sole discretion, the grant, vesting, exercisability
and/or settlement of any Restricted Stock, Restricted Stock Units, Other Share-Based Awards and Cash Awards intended to qualify
for the Performance-Based Exception shall be conditioned on the attainment of one or more Performance Objectives during a performance
period established by the Committee and must satisfy the requirements of this Section 14.


 


b.           Performance
Objectives. If an Award is intended to qualify for the Performance-Based Exception, then the Performance Objectives shall be
based on specified levels of or growth in one or more of the following criteria: (i) total stockholder return; (ii) such total
stockholder return as compared to total return (on a comparable basis) of a publicly available index such as, but not limited to,
the Standard & Poor’s 500 Stock Index; (iii) net income; (iv) pretax earnings; (v) earnings before interest expense,
taxes, depreciation and amortization; (vi) earnings before interest expense, taxes, depreciation and amortization and before bonuses,
service fees, and extraordinary or special items; (vii) pretax operating earnings after interest expense and before bonuses, service
fees, and extraordinary or special items; (viii) operating margin; (ix) operating income; (x) earnings per share; (xi) return measures
(including return on equity, return on capital, return on invested capital, return on investment, and/or return on net assets);
(xii) operating earnings; (xiii) working capital; (xiv) ratio of debt to stockholders’ equity; (xv) free cash flow; (xvi)
revenue; and (xvii) stock price.


 




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c.           
Establishment of Performance Objectives. With respect to Awards intended to qualify for the Performance-Based Exception,
the Committee shall establish: (i) the applicable Performance Objectives and performance period, and (ii) the formula for computing
the payout. Such terms and conditions shall be established in writing while the outcome of the applicable performance period is
substantially uncertain, but in no event later than the earlier of: (x) ninety days after the beginning of the applicable performance
period, or (y) the expiration of twenty-five percent (25%) of the applicable performance period.


 


d.           
Certification of Performance. With respect to any Award intended to qualify for the Performance-Based Exception, the Committee
shall certify in writing whether the applicable Performance Objectives and other material terms imposed on such Award have been
satisfied, and, if they have, ascertain the amount of the payout or vesting of the Award. Notwithstanding any other provision of
the Plan, payment or vesting of any such Award shall not be made until the Committee certifies in writing that the applicable Performance
Objectives and any other material terms of such Award were in fact satisfied in a manner conforming to applicable regulations under
Section 162(m) of the Code.


 


e.           Certain
Adjustments. The Committee may provide with respect to any Award that the evaluation of the attainment of a Performance Objective
may include or exclude any of the following events that occur during the applicable performance period: (i) asset write-downs;
(ii) litigation or claims, judgments, or settlements; (iii) the effect of changes in tax laws, accounting principles, or other
laws or provisions affecting reported results; (iv) any reorganization or restructuring events or programs; (v) items that are
either of an unusual nature or infrequently occurring, as described in Financial Accounting Standards Board Accounting Standards
Update No. 2015-01; (vi) acquisitions or divestitures; (vii) foreign exchange gains and losses; (viii) impact of Shares purchased
through stock repurchase programs; (ix) tax valuation adjustments; (x) impairment expense; (xi) environmental expense; and (xii)
such other events as specified by the Committee. Except as otherwise provided in the exercise of the Committee’s negative
discretion pursuant to Section 14(f), to the extent any of the foregoing inclusions or exclusions affect Awards that are intended
to qualify for the Performance-Based Exception, such inclusions or exclusions shall be prescribed in writing during the period
specified in Section 14(c) and in an objectively determinable manner that meets the requirements of Section 162(m) of the Code
for deductibility.


 


f.            Negative
Discretion. With respect to any Award intended to qualify for the Performance-Based Exception, after the date that the Performance
Objectives are required to be established in writing pursuant to Section 14(c), the Committee shall not have discretion to increase
the amount of compensation that is payable upon achievement of the designated Performance Objectives. However, the Committee may,
in its sole discretion, reduce the amount of compensation that is payable upon achievement of the designated Performance Objectives.


 




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15.         Transferability.
Except as otherwise determined by the Committee, no Award or dividend equivalents paid with respect to any Award shall be transferable
by the Participant except by will or the laws of descent and distribution; provided, however, that if so determined by the Committee,
each Participant may, in a manner established by the Board or the Committee, designate a beneficiary to exercise the rights of
the Participant with respect to any Award upon the death of the Participant and to receive Shares or other property issued or delivered
under such Award. Except as otherwise determined by the Committee, Stock Options and Stock Appreciation Rights will be exercisable
during a Participant’s lifetime only by the Participant or, in the event of the Participant’s legal incapacity to do
so, by the Participant’s guardian or legal representative acting on behalf of the Participant in a fiduciary capacity under
state law and/or court supervision.


 


16.         Adjustments.
In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting Standards Codification
Topic 718, or any successor thereto), such as a stock dividend, stock split, reverse stock split, spinoff, rights offering, or
recapitalization through a large, nonrecurring cash dividend, the Committee shall cause there to be an equitable adjustment in
the number and kind of Shares specified in Sections 3(a), 3(d) and 12 of the Plan and, with respect to outstanding Awards, in the
number and kind of Shares subject to outstanding Awards and the exercise price or other price of Shares subject to outstanding
Awards, in each case to prevent dilution or enlargement of the rights of Participants. In the event of any other change in corporate
capitalization, or in the event of a merger, consolidation, liquidation, or similar transaction, the Committee may, in its sole
discretion, cause there to be an equitable adjustment as described in the foregoing sentence, to prevent dilution or enlargement
of rights; provided, however, that, unless otherwise determined by the Committee, the number of Shares subject to any Award shall
always be rounded down to a whole number. Notwithstanding the foregoing, the Committee shall not make any adjustment pursuant to
this Section 16 that would (a) cause any Stock Option intended to qualify as an ISO to fail to so qualify, (b) cause an Award that
is otherwise exempt from Section 409A of the Code to become subject to Section 409A, or (c) cause an Award that is subject to Section
409A of the Code to fail to satisfy the requirements of Section 409A. The determination of the Committee as to the foregoing adjustments,
if any, shall be conclusive and binding on all Participants and any other persons claiming under or through any Participant.


 


17.         Fractional
Shares. The Company shall not be required to issue or deliver any fractional Shares pursuant to the Plan and, unless otherwise
provided by the Committee, fractional shares shall be settled in cash.


 


18.         Withholding
Taxes. To the extent required by Applicable Law, a Participant shall be required to satisfy, in a manner satisfactory to the
Company or Subsidiary, as applicable, any withholding tax obligations that arise by reason of the exercise of a Stock Option or
Stock Appreciation Right, the vesting of or settlement of Shares under an Award, an election pursuant to Section 83(b) of the Code
or otherwise with respect to an Award. The Company and its Subsidiaries shall not be required to issue or deliver Shares, make
any payment or to recognize the transfer or disposition of Shares until such obligations are satisfied. The Committee may permit
or require these obligations to be satisfied by having the Company withhold a portion of the Shares that otherwise would be issued
or delivered to a Participant upon exercise of a Stock Option or Stock Appreciation Right or upon the vesting or settlement of
an Award, or by tendering Shares previously acquired, provided that in no event will the Fair Market Value of any Shares so withheld
exceed the amount of taxes required to be withheld based on the minimum statutory tax rates in the applicable taxing jurisdictions.
Any such elections are subject to such conditions or procedures as may be established by the Committee and may be subject to disapproval
by the Committee.


 




    	 	14	 



     


    

 


19.         Foreign
Employees. Without amending the Plan, the Committee may grant Awards to Participants who are foreign nationals, or who are
subject to Applicable Laws of one or more non-United States jurisdictions, on such terms and conditions different from those specified
in the Plan as may in the judgment of the Committee be necessary or desirable to foster and promote achievement of the purposes
of the Plan, and, in furtherance of such purposes, the Committee may approve such sub-plans, supplements to or amendments, modifications,
restatements or alternative versions of this Plan as may be necessary or advisable to comply with provisions of Applicable Laws
of other countries in which the Company or its Subsidiaries operate or have employees.


 


20.         Forfeiture;
Recoupment.


 


a.           Detrimental
Activity; Termination for Cause. The Committee may reserve the right in an Award Agreement to cause a forfeiture of the gain
realized by a Participant with respect to an Award thereunder on account of actions taken by, or failed to be taken by, such Participant
in violation or breach of or in conflict with any (i) employment agreement, (ii) non-competition agreement, (iii) agreement prohibiting
solicitation of employees or clients of the Company or any Subsidiary, (iv) confidentiality obligation with respect to the Company
or any Subsidiary, or (v) other agreement, as and to the extent specified in such Award Agreement. The Committee may annul an outstanding
Award if the Participant thereof is an Employee and is terminated for Cause.


 


b.           Compensation
Recovery Policy. Any Award granted to a Participant shall be subject to forfeiture or repayment pursuant to the terms of any
applicable compensation recovery policy maintained by the Company from time to time, including any such policy that may be maintained
to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act or any rules or regulations issued by the Securities
and Exchange Commission or applicable securities exchange.


 


c.           Set-Off
and Other Remedies. To the extent that amounts are not immediately returned or paid to the Company as provided in this Section
20, the Company may, to the extent permitted by Applicable Laws, seek other remedies, including a set off of the amounts so payable
to it against any amounts that may be owing from time to time by the Company or a Subsidiary to the Participant for any reason,
including, without limitation, wages, or vacation pay or other benefits; provided, however, that, except to the extent permitted
by Treasury Regulation Section 1.409A-3(j)(4), such offset shall not apply to amounts that are “deferred compensation”
within the meaning of Section 409A of the Code.


 


21.         Change
in Control.


 


a.           Committee
Discretion. The Committee may, in its sole discretion and without the consent of Participants, either by the terms of the Award
Agreement applicable to any Award or by resolution adopted prior to the occurrence of a Change in Control, determine whether and
to what extent outstanding Awards under the Plan shall be assumed, converted or replaced by the resulting entity in connection
with the Change in Control (or, if the Company is the resulting entity, whether such Awards shall be continued by the Company),
in each case subject to equitable adjustments in accordance with Section 16 of the Plan.


 




    	 	15	 



     


    

  


b.           Awards
that are Assumed. To the extent outstanding Awards granted under the Plan are assumed, converted or replaced by the resulting
entity in the event of a Change in Control (or, if the Company is the resulting entity, to the extent such Awards are continued
by the Company) as provided in Section 21(a) of the Plan, then, except as otherwise provided in the applicable Award Agreement
or in another written agreement with the Participant, or in a Company severance plan applicable to the Participant:


 


(i)          Any
such outstanding Awards that are subject to Performance Objectives shall be converted to service-based Awards by the resulting
entity (A) as if “target” performance had been achieved, if less than half of the applicable performance period has
lapsed as of the date of the Change in Control (or if at least half of the applicable performance period has lapsed, but, in the
Committee’s judgment, actual performance as of the date of the Change in Control is not determinable), or (B) based on actual
performance as of the date of the Change in Control (if determinable), if at least half of the applicable performance period has
lapsed as of the date of the Change in Control, and in either case, such converted Awards shall continue to vest and become exercisable
(as applicable) based on continued service during the remaining vesting period;


 


(ii)         All
other such outstanding Awards shall continue to vest and become exercisable (as applicable) based on continued service during the
remaining vesting period, if any; and


 


(iii)        Notwithstanding
the foregoing, if the Participant’s employment is involuntarily terminated without Cause (or, to the extent applicable, the
Participant terminates his or her employment for Good Reason), within one year after such Change in Control, all such outstanding
Awards shall become vested and exercisable (as applicable) in full, effective as of the date of such termination, and any such
Awards that are Stock Options or Stock Appreciation Rights shall remain exercisable for one year after such termination (or for
such longer period as the Committee may determine).


 


c.           Awards
that are not Assumed. To the extent outstanding Awards granted under the Plan are not assumed, converted or replaced by the
resulting entity in connection with a Change in Control (or, if the Company is the resulting entity, to the extent such Awards
are not continued by the Company) in accordance with Section 21(a) of the Plan, then, except as otherwise provided in the applicable
Award Agreement or in another written agreement with the Participant, or in a Company severance plan applicable to the Participant,
then, effective immediately prior to the Change in Control:


 


(i)         All service-based
and performance-based vesting restrictions with respect to all such outstanding Awards shall lapse, with any applicable Performance
Objectives deemed to be satisfied (A) as if “target” performance had been achieved, if less than half of the applicable
performance period has lapsed as of the date of the Change in Control (or if at least half of the applicable performance period
has lapsed, but in the Committee’s judgment, actual performance as of the date of the Change in Control is not determinable),
or (B) based on actual performance as of the date of the Change in Control (if determinable by the Committee), if at least half
of the applicable performance period has lapsed as of the date of the Change in Control, and all such Awards shall become fully
vested, effective as of the date of such Change in Control; and


 




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(iii)        Subject
to Section 21(d), all such outstanding Awards that are Stock Options or Stock Appreciation Rights shall become fully exercisable
for fifteen days prior to the scheduled consummation of such Change in Control (or for such longer period as the Committee may
determine).


 


d.           Cancellation
Right. The Committee may, in its sole discretion and without the consent of Participants, either by the terms of the Award
Agreement applicable to any Award or by resolution adopted prior to the occurrence of the Change in Control, provide that any outstanding
Award (or a portion thereof) shall, upon the occurrence of such Change in Control, be cancelled in exchange for a payment in cash
or other property (including shares of the resulting entity in connection with a Change in Control) in an amount equal to the excess,
if any, of the Fair Market Value of the Shares subject to the Award, over any exercise price related to the Award, which amount
may be zero if the Fair Market Value of a Share on the date of the Change in Control does not exceed the exercise price per Share
of the applicable Awards.


 


22.         Amendment,
Modification and Termination.


 


a.           In
General. The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in whole or in part;
provided, however, that no alteration or amendment that requires stockholder approval in order for the Plan to comply with any
rule promulgated by the SEC or any securities exchange on which Shares are listed or any other Applicable Laws shall be effective
unless such amendment shall be approved by the requisite vote of stockholders of the Company entitled to vote thereon within the
time period required under such applicable listing standard or rule.


 


b.           Adjustments
to Outstanding Awards. The Committee may in its sole discretion at any time (i) provide that all or a portion of a Participant’s
Stock Options, Stock Appreciation Rights and other Awards in the nature of rights that may be exercised shall become fully or partially
exercisable; (ii) provide that all or a part of the time-based vesting restrictions on all or a portion of the outstanding Awards
shall lapse, and/or that any Performance Objectives or other performance-based criteria with respect to any Awards shall be deemed
to be wholly or partially satisfied; or (iii) waive any other limitation or requirement under any such Award, in each case, as
of such date as the Committee may, in its sole discretion, declare. Unless otherwise determined by the Committee, any such adjustment
that is made with respect to an Award that is intended to qualify for the Performance-Based Exception shall be made at such times
and in such manner as will not cause such Awards to fail to qualify under the Performance-Based Exception. Additionally, the Committee
shall not make any adjustment pursuant to this Section 22(b) that would cause an Award that is otherwise exempt from Section 409A
of the Code to become subject to Section 409A, or that would cause an Award that is subject to Section 409A of the Code
to fail to satisfy the requirements of Section 409A.


 




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c.           Prohibition
on Repricing. Except for adjustments made pursuant to Sections 16 or 21, the Board or the Committee will not, without the further
approval of the stockholders of the Company, authorize the amendment of any outstanding Stock Option or Stock Appreciation Right
to reduce the exercise price. No Stock Option or Stock Appreciation Right will be cancelled and replaced with an Award having a
lower exercise price, or exchanged for another Award, or for cash, without further approval of the stockholders of the Company,
except as provided in Sections 16 or 21. Furthermore, no Stock Option or Stock Appreciation Right will provide for the payment,
at the time of exercise, of a cash bonus or grant or sale of another Award without further approval of the stockholders of the
Company. This Section 22(c) is intended to prohibit the repricing of “underwater” Stock Options or Stock Appreciation
Rights without stockholder approval and will not be construed to prohibit the adjustments provided for in Sections 16 or 21.


 


d.           Effect
on Outstanding Awards. Notwithstanding any other provision of the Plan to the contrary (other than Sections 16, 21, 22(b) and
24(e)), no termination, amendment, suspension, or modification of the Plan or an Award Agreement shall adversely affect in any
material way any Award previously granted under the Plan, without the written consent of the Participant holding such Award; provided,
however, that the Committee may modify an ISO held by a Participant to disqualify such Stock Option from treatment as an “incentive
stock option” under Section 422 of the Code without the Participant’s consent.


 


23.         Applicable
Laws. The obligations of the Company with respect to Awards under the Plan shall be subject to all Applicable Laws and such
approvals by any governmental agencies as the Committee determines may be required. The Plan and each Award Agreement shall be
governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise
refer construction or interpretation of the Plan to the substantive law of another jurisdiction.


 


24.         Miscellaneous.


 


a.           Deferral
of Awards. Except with respect to Stock Options, Stock Appreciation Rights and Restricted Stock, the Committee may permit Participants
to elect to defer the issuance or delivery of Shares or the settlement of Awards in cash under the Plan pursuant to such rules,
procedures or programs as it may establish for purposes of the Plan. The Committee also may provide that deferred issuances and
settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. All elections and deferrals
permitted under this provision shall comply with Section 409A of the Code, including setting forth the time and manner of
the election (including a compliant time and form of payment), the date on which the election is irrevocable, and whether the election
can be changed until the date it is irrevocable.


 


b.           No
Right of Continued Employment. The Plan shall not confer upon any Participant any right with respect to continuance of employment
or other service with the Company or any Subsidiary, nor shall it interfere in any way with any right the Company or any Subsidiary
would otherwise have to terminate such Participant’s employment or other service at any time. No Employee, Director or Consultant
shall have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive
future Awards. Awards granted under the Plan shall not be considered a part of any Participant’s normal or expected compensation
or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal,
end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments.


 




    	 	18	 



     


    

 


c.           Stock
Ownership Guidelines. Any Shares delivered under the Plan shall be subject to any applicable stock ownership guidelines maintained
or established by the Company from time to time for its executives and Directors. By accepting any benefit under the Plan, each
Participant shall be conclusively deemed to agree to comply with the terms and conditions of any such Company stock ownership guidelines
that may apply to the Participant from time to time, including, as may be necessary, the Participant’s retention of all or
a portion of the Shares delivered to the Participant pursuant to Awards under the Plan.


 


d.           Unfunded,
Unsecured Plan. Neither a Participant nor any other person shall, by reason of participation in the Plan, acquire any right
or title to any assets, funds or property of the Company or any Subsidiary, including without limitation, any specific funds, assets
or other property which the Company or any Subsidiary may set aside in anticipation of any liability under the Plan. A Participant
shall have only a contractual right to an Award or the amounts, if any, payable under the Plan, unsecured by any assets of the
Company or any Subsidiary, and nothing contained in the Plan shall constitute a guarantee that the assets of the Company or any
Subsidiary shall be sufficient to pay any benefits to any person.


 


e.           Severability.
If any provision of the Plan is or becomes invalid, illegal or unenforceable in any jurisdiction, or would disqualify the Plan
or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended or limited in
scope to conform to Applicable Laws or, in the discretion of the Committee, it shall be stricken and the remainder of the Plan
shall remain in full force and effect.


 


f.            Acceptance
of Plan. By accepting any benefit under the Plan, each Participant and each person claiming under or through any such Participant
shall be conclusively deemed to have indicated their acceptance and ratification of, and consent to, all of the terms and conditions
of the Plan and any action taken under the Plan by the Committee, the Board or the Company, in any case in accordance with the
terms and conditions of the Plan.


 


g.           Successors.
All obligations of the Company under the Plan and with respect to Awards shall be binding on any successor to the Company, whether
the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or other event, or a sale
or disposition of all or substantially all of the business and/or assets of the Company and references to the “Company”
herein and in any Award Agreements shall be deemed to refer to such successors.


 


h.           No
Liability. No member of the Board or the Committee shall be liable for any action or determination made in good faith with
respect to the Plan, any Award or any Award Agreement.


 


[END OF DOCUMENT]


 




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