EX-10.6


 Exhibit 10.6 

LIBERTY OILFIELD SERVICES INC. 

LEGACY RESTRICTED STOCK PLAN 

1.    Purpose. The purpose of the Liberty Oilfield Services Inc. Legacy Restricted Stock Plan (the
“Plan”) is to provide a means through Liberty Oilfield Services Inc., a Delaware corporation (the “Company”), and its Affiliates will issue Restricted Stock in exchange for Class B Units in
Liberty Oilfield Services Holdings that remain unvested as of the Merger Date. 
 2.    Definitions. For purposes
of the Plan, the following terms shall be defined as set forth below: 
 (a)    “Adjustment
Event” has the meaning set forth in Section 8(d). 

(b)    “Affiliate” means any corporation, partnership, limited liability company, limited
liability partnership, association, trust or other organization that, directly or indirectly, controls, is controlled by, or is under common control with, the Company. For purposes of the preceding sentence, “control” (including, with
correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50%
of the securities having ordinary voting power for the election of directors of the controlled entity or organization or (ii) to direct or cause the direction of the management and policies of the controlled entity or organization, whether
through the ownership of voting securities, by contract, or otherwise. 
 (c)    “ASC Topic 718”
means the Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, as amended or any successor accounting standard. 

(d)    “Award” means any Restricted Stock granted under the Plan. 

(e)    “Award Agreement” means any written instrument (including any employment, severance or
change in control agreement or any resolution of the Committee) that sets forth the terms, conditions, restrictions and/or limitations applicable to an Award, in addition to those set forth under the Plan. 

(f)    “Board” means the Board of Directors of the Company. 

(g)    “Change in Control” means, except as otherwise provided in an Award Agreement, the
occurrence of any of the following events after the Effective Date: 
 (i)    A “change in the ownership” of
the Company within the meaning of Treasury Regulation § 1.409A-3(i)(5)(v), whereby any one person, or more than one person acting as a “group” (for purposes of this
Section 2(g)(i), as such term is defined in Treasury Regulation § 1.409A-3(i)(5)(v)(B)), acquires beneficial ownership (as such term is defined in Rule 13d-3), directly or indirectly, of securities in the Company that, together with securities beneficially owned by such person or group, constitutes more than 50% of the total fair market value or total voting power
of the outstanding securities of the Company; 






 (ii)    A “change in the effective control” of the Company within
the meaning of Treasury Regulation § 1.409A-3(i)(5)(vi), whereby either (A) any one person, or more than one person acting as a “group” (for purposes of this
Section 2(g)(ii), as such term is defined in Treasury Regulation § 1.409A-3(i)(5)(vi)(D)), acquires (or has acquired during the 12-month
period ending on the date of the most recent acquisition by such person or persons) beneficial ownership (as such term is defined in Rule 13d-3), directly or indirectly, of securities of the Company possessing
30% or more of the total voting power of the outstanding securities of the Company; provided, however, that this clause (ii)(A) shall not apply to any acquisitions by funds affiliated with Riverstone Holdings LLC or any of their
respective Affiliates (collectively, the “Riverstone Holders”) until the first date after the Effective Date on which the Riverstone Holders beneficially own (as such term is defined in Rule 13d-3), directly or indirectly, less than 20% of the total voting power of the outstanding securities of the Company; or (B) a majority of the members of the Board are replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or 

(iii)    A “change in the ownership of a substantial portion” of the Company’s assets within the meaning
of Treasury Regulation § 1.409A-3(i)(5)(vii), whereby any one person, or more than one person acting as a “group” (for purposes of this Section 2(g)(iii), as such term
is defined in Treasury Regulation § 1.409A-3(i)(5)(vii)(C)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition
by such person or persons) assets of the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all the assets of the Company immediately prior to such acquisition or acquisitions. 

(h)    “Change in Control Price” means the amount determined in the following clause (i), (ii),
(iii), (iv) or (v), whichever the Committee determines is applicable, as follows: (i) the price per share offered to holders of Stock in any merger or consolidation, (ii) the per share fair market value of the Stock immediately before the
Change in Control or other event without regard to assets sold in the Change in Control or other event and assuming the Company has received the consideration paid for the assets in the case of a sale of the assets, (iii) the amount distributed
per share of Stock in a dissolution transaction, (iv) the price per share offered to holders of Stock in any tender offer or exchange offer whereby a Change in Control or other event takes place, or (v) if such Change in Control or other
event occurs other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Section 2(h), the value per share of the Stock that may otherwise be obtained with respect to such Awards or to
which such Awards track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Awards. In the event that the consideration offered to stockholders of the Company in any
transaction described in this Section 2(h) or in Section 8(e) consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration
offered which is other than cash and such determination shall be binding on all affected Participants to the extent applicable to Awards held by such Participants. 

(i)    “Code” means the Internal Revenue Code of 1986, as amended from time to time, including the
guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto. 

  
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 (j)    “Committee” means a committee of two or more
directors designated by the Board to administer the Plan; provided, however, that, unless otherwise determined by the Board, the Committee shall consist solely of two or more Qualified Members. 

(k)    “Effective Date” means January 17, 2018. 

(l)    “Eligible Person” means any individual who holds unvested Class B Units in Liberty
Oilfield Services Holdings as of the Merger Date. 
 (m)    “Equitable Adjustments” has the
meaning set forth in Section 8(d). 
 (n)    “Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time, including the guidance, rules and regulations promulgated thereunder and successor provisions, guidance, rules and regulations thereto. 

(o)    “Merger Date” means January 17, 2018. 

(p)    “Fair Market Value” means, as of any specified date, (i) if the Stock is listed on a
national securities exchange, the closing sales price of the Stock, as reported on the stock exchange on that date (or if no sales occur on such date, on the last preceding date on which such sales of the Stock are so reported); (ii) if the Stock is
not traded on a national securities exchange but is traded over the counter on such date, the average between the reported high and low bid and asked prices of Stock on the most recent date on which Stock was publicly traded on or preceding the
specified date; or (iii) in the event Stock is not publicly traded at the time a determination of its value is required to be made under the Plan, the amount determined by the Committee in its discretion in such manner as it deems appropriate,
taking into account all factors the Committee deems appropriate. Notwithstanding this definition of Fair Market Value, with respect to one or more Awards types, or for any other purpose for which the Committee must determine the Fair Market Value
under the Plan, the Committee may elect to choose a different measurement date or methodology for determining Fair Market Value so long as the determination is consistent with all applicable laws and regulations. 

(q)    “Participant” means a person who has been granted an Award under the Plan that remains
outstanding, including a person who is no longer an Eligible Person. 
 (r)    “Qualified
Member” means a member of the Board who is a “non-employee director” within the meaning of Rule 16b-3(b)(3). 

(s)    “Restricted Stock” means Stock granted to an Eligible Person under
Section 6(b) that is subject to certain restrictions and to a risk of forfeiture. 

(t)    “Rule 13d-3” means Rule 13d-3, promulgated by the SEC under Section 13 of the Exchange Act. 

(u)    “Rule 16b-3” means Rule 16b-3, promulgated by the SEC under Section 16 of the Exchange Act. 

(v)    “SEC” means the Securities and Exchange Commission. 

  
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 (w)    “Securities Act” means the Securities Act of
1933, as amended from time to time, including the guidance, rules and regulations promulgated thereunder and successor provisions, guidance, rules and regulations thereto. 

(x)    “Stock” means the Company’s Class A common stock, par value $0.01 per share, and
such other securities as may be substituted (or re-substituted) for Stock pursuant to Section 8. 

3.    Administration. 

(a)    Authority of the Committee. The Plan shall be administered by the Committee except to the extent the Board
elects to administer the Plan, in which case references herein to the “Committee” shall be deemed to include references to the “Board.” Subject to the express provisions of the Plan and other applicable laws, the Committee shall
have the authority, in its sole and absolute discretion, to: 
 (i)    designate Eligible Persons as Participants; 

(ii)    determine the type or types of Awards to be granted to an Eligible Person; 

(iii)    determine the number of shares of Stock or amount of cash to be covered by Awards; 

(iv)    determine the terms and conditions of any Award, including whether, to what extent and under what circumstances
Awards may be vested, settled, cancelled or forfeited (including conditions based on continued employment or service requirements); 

(v)    modify, waive or adjust any term or condition of an Award that has been granted, which may include the
acceleration of vesting, waiver of forfeiture restrictions, modification of the form of settlement of the Award (for example, from cash to Stock or vice versa), or modification of any other condition or limitation regarding an Award; 

(vi)    determine the treatment of an Award upon a termination of employment or other service relationship; 

(vii)    impose a holding period with respect to an Award or the shares of Stock received in connection with an Award;

 (viii)    interpret and administer the Plan and any Award Agreement; 

(ix)    correct any defect, supply any omission or reconcile any inconsistency in the Plan, in any Award, or in any Award
Agreement; and 
 (x)    make any other determination and take any other action that the Committee deems necessary or
desirable for the administration of the Plan. 

  
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 The express grant of any specific power to the Committee, and the taking of any action by the
Committee, shall not be construed as limiting any power or authority of the Committee. Any action of the Committee shall be final, conclusive and binding on all persons, including the Company, its Affiliates, stockholders, Participants,
beneficiaries, and permitted transferees under Section 7(a) or other persons claiming rights from or through a Participant. 

(b)    Delegation of Authority. The Committee may delegate any or all of its powers and duties under the Plan to a
subcommittee of directors or to any officer of the Company, including the power to perform administrative functions and grant Awards; provided, however, that such delegation does not violate applicable law. Upon any such delegation,
all references in the Plan to the “Committee,” other than in Section 8, shall be deemed to include any subcommittee or officer of the Company to whom such powers have been delegated by the Committee. Any such
delegation shall not limit the right of such subcommittee members or such an officer to receive Awards; provided, however, that such subcommittee members and any such officer may not grant Awards to himself or herself, a member of the
Board, or any executive officer (as defined under Rule 3b-7 promulgated under the Exchange Act) of the Company or an Affiliate, or take any action with respect to any Award previously granted to himself or
herself, a member of the Board, or any such executive officer of the Company or an Affiliate. The Committee may also appoint agents who are not executive officers of the Company or members of the Board to assist in in administering the Plan,
provided that such individuals may not be delegated the authority to grant or modify any Awards that will, or may, be settled in Stock. 

(c)    Limitation of Liability. The Committee and each member thereof shall be entitled to, in good faith, rely or
act upon any report or other information furnished to him or her by any officer or employee of the Company or any of its Affiliates, the Company’s legal counsel, independent auditors, consultants or any other agents assisting in the
administration of the Plan. Members of the Committee and any officer or employee of the Company or any of its Affiliates acting at the direction or on behalf of the Committee shall not be personally liable for any action or determination taken or
made in good faith with respect to the Plan, and shall, to the fullest extent permitted by law, be indemnified and held harmless by the Company with respect to any such action or determination. 

4.    Stock Subject to Plan. 

(a)    Number of Shares Available for Delivery. Subject to adjustment in a manner consistent with
Section 8, the aggregate number of shares of Stock issued to all holders of unvested Series B Units in Liberty Oilfield Services Holdings LLC, as identified on Schedule 2.5(a)-2 of
that certain Master Reorganization Agreement dated January 11, 2018 by and among Liberty Oilfield Services Holdings LLC, Liberty Oilfield Services New HoldCo LLC, the Company and the other signatories thereto are reserved and available for
delivery with respect to Awards. 
 (b)    Application of Limitation to Grants of Awards. Subject to
Section 4(c), no Award may be granted if the number of shares of Stock that may be delivered in connection with such Award exceeds the number of shares of Stock remaining available under the Plan minus the number of shares
of Stock issuable in settlement of or relating to then-outstanding Awards. The Committee may adopt reasonable counting procedures to ensure appropriate counting, avoid double counting and make adjustments if the number of shares of Stock actually
delivered differs from the number of shares previously counted in connection with an Award. 

  
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 (c)    Availability of Shares Not Delivered under Awards. Shares of
Stock subject to an Award under the Plan that expires or is cancelled, forfeited, exchanged, settled in cash or otherwise terminated (including (i) shares forfeited with respect to Restricted Stock, and (ii) the number of shares withheld
or surrendered to the Company in payment of any taxes relating to Awards) shall be considered “delivered shares” under the Plan, shall not be available for delivery with respect to Awards, and shall continue to be considered issuable or
related to outstanding Awards for purposes of Section 4(b). 
 5.    Eligibility.
Awards may be granted under the Plan only to Eligible Persons. 
 6.    Specific Terms of Awards. 

(a)    General. Awards may be granted on the terms and conditions set forth in this
Section 6. Awards granted under the Plan may, in the discretion of the Committee, be granted either alone, in addition to, or in tandem with any other Award. In addition, the Committee may impose on any Award, at the date
of grant or thereafter (subject to Section 10), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine. 

(b)    Restricted Stock. The Committee is authorized to grant Restricted Stock to Eligible Persons on the following
terms and conditions: 
 (i)    Restrictions. Restricted Stock shall be subject to such restrictions on
transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose. Except as provided in Section 7(a)(ii) and Section 7(a)(iii), during the restricted period
applicable to the Restricted Stock, the Restricted Stock may not be sold, transferred, pledged, hedged, hypothecated, margined or otherwise encumbered by the Participant. 

(ii)    Dividends and Splits. As a condition to the grant of an Award of Restricted Stock, the Committee may allow
a Participant to elect, or may require, that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional shares of Restricted Stock, applied to the purchase of additional Awards or deferred without interest to
the date of vesting of the associated Award of Restricted Stock. Unless otherwise determined by the Committee and specified in the applicable Award Agreement, Stock distributed in connection with a Stock split or Stock dividend, and other property
(other than cash) distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other property has been distributed. 

(iii)    Vesting. The Restricted Stock shall be subject to the vesting schedule as set forth in the applicable
Award Agreement, and such vesting schedule shall be the same as the remaining portion of the vesting schedule applicable to the unvested Class B Units in Liberty Oilfield Services Holdings. 

  
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 7.    Certain Provisions Applicable to Awards. 

(a)    Limit on Transfer of Awards. 

(i)    Except as provided in Sections 7(a)(ii) and (iii), no Award, and no right under any such Award, may
be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the
Company or any Affiliate. 
 (ii)    To the extent specifically provided by the Committee, an Award may be transferred
by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities or on such terms and conditions as the Committee may from time to time establish. 

(iii)    An Award may be transferred pursuant to a domestic relations order entered or approved by a court of competent
jurisdiction upon delivery to the Company of a written request for such transfer and a certified copy of such order. 

(b)    Evidencing Stock. The Stock or other securities of the Company delivered pursuant to an Award may be
evidenced in any manner deemed appropriate by the Committee in its sole discretion, including in the form of a certificate issued in the name of the Participant or by book entry, electronic or otherwise, and shall be subject to such stop transfer
orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Stock or other securities are then listed, and any applicable federal,
state or other laws, and the Committee may cause a legend or legends to be inscribed on any such certificates to make appropriate reference to such restrictions. Further, if certificates representing Restricted Stock are registered in the name of
the Participant, the Company may retain physical possession of the certificates and may require that the Participant deliver a stock power to the Company, endorsed in blank, related to the Restricted Stock. 

(c)    Consideration for Grants. Awards may be granted for such consideration, including services, as the Committee
shall determine, but shall not be granted for less than the minimum lawful consideration. 
 8.    Subdivision or
Consolidation; Recapitalization; Change in Control; Reorganization. 
 (a)    Existence of Plans and Awards.
The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or power of the Company, the Board or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other
change in the Company’s capital structure or its business, any merger or consolidation of the Company, any issue of debt or equity securities ahead of or affecting Stock or the rights thereof, the dissolution or liquidation of the Company or
any sale, lease, exchange or other disposition of all or any part of its assets or business or any other corporate act or proceeding. 

  
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 (b)    Additional Issuances. Except as expressly provided herein, the
issuance by the Company of shares of stock of any class, including upon conversion of shares or obligations of the Company convertible into such shares or other securities, and in any case whether or not for fair value, shall not affect, and no
adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to Awards theretofore granted or the purchase price per share of Stock, if applicable. 

(c)    Subdivision or Consolidation of Shares. The terms of an Award and the share limitations under the Plan shall
be subject to adjustment by the Committee from time to time, in accordance with the following provisions: 
 (i)    If
at any time, or from time to time, the Company shall subdivide as a whole (by reclassification, by a Stock split, by the issuance of a distribution on Stock payable in Stock, or otherwise) the number of shares of Stock then outstanding into a
greater number of shares of Stock or in the event the Company distributes an extraordinary cash dividend, then, as appropriate (A) the maximum number of shares of Stock available for delivery with respect to Awards shall be increased
proportionately, and the kind of shares or other securities available for the Plan shall be appropriately adjusted and (B) the number of shares of Stock (or other kind of shares or securities) that may be acquired under any then outstanding
Award shall be increased proportionately. 
 (ii)    If at any time, or from time to time, the Company shall
consolidate as a whole (by reclassification, by reverse Stock split, or otherwise) the number of shares of Stock then outstanding into a lesser number of shares of Stock, then, as appropriate (A) the maximum number of shares of Stock
available for delivery with respect to Awards shall be decreased proportionately, and the kind of shares or other securities available for the Plan shall be appropriately adjusted and (B) the number of shares of Stock (or other kind of shares
or securities) that may be acquired under any then outstanding Award shall be decreased proportionately. 

(d)    Recapitalization. In the event of any change in the capital structure or business of the Company or other
corporate transaction or event that would be considered an “equity restructuring” within the meaning of ASC Topic 718 and, in each case, that would result in an additional compensation expense to the Company pursuant to the provisions of
ASC Topic 718, if adjustments to Awards with respect to such event were discretionary or otherwise not required (each such an event, an “Adjustment Event”), then the Committee shall equitably adjust (i) the aggregate
number or kind of shares that thereafter may be delivered under the Plan, (ii) the number or kind of shares or other property (including cash) subject to an Award, and (iii) the terms and conditions of Awards to equitably reflect such
Adjustment Event (“Equitable Adjustments”). In the event of any change in the capital structure or business of the Company or other corporate transaction or event that would not be considered an Adjustment Event, and is not
otherwise addressed in this Section 8, the Committee shall have complete discretion to make Equitable Adjustments (if any) in such manner as it deems appropriate with respect to such other event. 

(e)    Change in Control and Other Events. Except to the extent otherwise provided in any applicable Award
Agreement, vesting of any Award shall not occur solely upon the occurrence of a Change in Control and, in the event of a Change in Control or other changes in the Company or the outstanding Stock by reason of a recapitalization, reorganization,
merger, 

  
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consolidation, combination, exchange or other relevant change occurring after the date of the grant of any Award, the Committee, acting in its sole discretion without the consent or approval of
any holder, may exercise any power enumerated in Section 3 (including the power to accelerate vesting, waive any forfeiture conditions or otherwise modify or adjust any other condition or limitation regarding an Award) and
may also effect one or more of the following alternatives, which may vary among individual holders and which may vary among Awards held by any individual holder: 

(i)    redeem in whole or in part outstanding Awards by requiring the mandatory surrender to the Company by selected
holders of some or all of the outstanding Awards held by such holders (irrespective of whether such Awards are then vested or exercisable) as of a date, specified by the Committee, in which event the Committee shall thereupon cancel such Awards and
pay to each holder an amount of cash or other consideration per Award (other than a Dividend Equivalent or Cash Award, which the Committee may separately require to be surrendered in exchange for cash or other consideration determined by the
Committee in its discretion) equal to the Change in Control Price; 
 (ii)    cancel Awards that remain subject to a
restricted period as of the date of a Change in Control or other such event without payment of any consideration to the Participant for such Awards; or 

(iii)    make such adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change in
Control or other such event (including the substitution, assumption, or continuation of Awards by the successor company or a parent or subsidiary thereof); 

provided, however, that so long as the event is not an Adjustment Event, the Committee may determine in its sole discretion that no adjustment
is necessary to Awards then outstanding. If an Adjustment Event occurs, this Section 8(e) shall only apply to the extent it is not in conflict with Section 8(d). 

9.    General Provisions. 

(a)    Tax Withholding. The Company and any of its Affiliates are authorized to withhold from any Award granted, or
any payment relating to an Award, including from a distribution of Stock, taxes due or potentially payable in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the
Company, its Affiliates and Participants to satisfy the payment of withholding taxes and other tax obligations relating to any Award in such amounts as may be determined by the Committee. The Committee shall determine, in its sole discretion, the
form of payment acceptable for such tax withholding obligations, including the delivery of cash or cash equivalents, Stock (including previously owned shares, net settlement, a broker-assisted sale, or other cashless withholding or surrender of the
amount of shares issued pursuant to the Award), other property, or any other legal consideration the Committee deems appropriate. Any determination made by the Committee to allow a Participant who is subject to Rule
16b-3 to pay taxes with shares of Stock through net settlement or previously owned shares shall be approved by either a committee made up of solely two or more Qualified Members or the full Board. If


  
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such tax withholding amounts are satisfied through net settlement or previously owned shares, the maximum number of shares of Stock that may be so withheld or surrendered shall be the number of
shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for federal, state, foreign and/or local tax
purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to such Award, as determined by the Committee. 

(b)    Limitation on Rights Conferred under Plan. Neither the Plan nor any action taken hereunder shall be
construed as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or any of its Affiliates, (ii) interfering in any way with the right of the
Company or any of its Affiliates to terminate any Eligible Person’s or Participant’s employment or service relationship at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under the Plan or to
be treated uniformly with other Participants and/or employees and/or other service providers, or (iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until the Participant is duly issued or transferred
shares of Stock in accordance with the terms of an Award. 
 (c)    Governing Law; Submission to Jurisdiction.
All questions arising with respect to the provisions of the Plan and Awards shall be determined by application of the laws of the State of Delaware, without giving effect to any conflict of law provisions thereof, except to the extent Delaware law
is preempted by federal law. The obligation of the Company to sell and deliver Stock hereunder is subject to applicable federal and state laws and to the approval of any governmental authority required in connection with the authorization, issuance,
sale, or delivery of such Stock. With respect to any claim or dispute related to or arising under the Plan, the Company and each Participant who accepts an Award hereby consent to the exclusive
jurisdiction, forum and venue of the state and federal courts located in the State of Delaware. 

(d)    Severability and Reformation. If any provision of the Plan or any Award is or becomes or is deemed to be
invalid, illegal, or unenforceable in any jurisdiction or as to any person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the
applicable law or, if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award and the
remainder of the Plan and any such Award shall remain in full force and effect. 
 (e)    Unfunded Status of Awards;
No Trust or Fund Created. The Plan is intended to constitute an “unfunded” plan for certain incentive awards. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company or any Affiliate and a Participant or any other person. To the extent that any person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than
the right of any general unsecured creditor of the Company or such Affiliate. 

  
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 (f)    Nonexclusivity of the Plan. Neither the adoption of the
Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable.
Nothing contained in the Plan shall be construed to prevent the Company or any of its Affiliates from taking any corporate action which is deemed by the Company or such Affiliate to be appropriate or in its best interest, whether or not such action
would have an adverse effect on the Plan or any Award made under the Plan. No employee, beneficiary or other person shall have any claim against the Company or any of its Affiliates as a result of any such action. 

(g)    Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan or any
Award, and the Committee shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional shares of Stock or whether such fractional shares of Stock or any rights thereto
shall be cancelled, terminated, or otherwise eliminated with or without consideration. 
 (h)    Interpretation.
Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision
thereof. Words in the masculine gender shall include the feminine gender, and, where appropriate, the plural shall include the singular and the singular shall include the plural. In the event of any conflict between the terms and conditions of an
Award Agreement and the Plan, the provisions of the Plan shall control. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific
items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words
of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. References herein to any
agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and not prohibited by the Plan. 

(i)    Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the
judgment of the Committee, is unable to manage properly his financial affairs, may be paid to the legal representative of such individual, or may be applied for the benefit of such individual in any manner that the Committee may select, and the
Company shall be relieved of any further liability for payment of such amounts. 
 (j)    Conditions to Delivery of
Stock. Nothing herein or in any Award Agreement shall require the Company to issue any shares with respect to any Award if that issuance would, in the opinion of counsel for the Company, constitute a violation of the Securities Act, any other
applicable statute or regulation, or the rules of any applicable securities exchange or securities association, as then in effect. In addition, each Participant who receives an Award under the Plan shall not sell or otherwise dispose of Stock that
is acquired upon grant or vesting of an Award in any manner that would constitute a violation of any applicable federal or state securities laws, the Plan or the rules, regulations or other requirements of the SEC or any


  
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stock exchange upon which the Stock is then listed. At the time of any grant of any Award, the Company may, as a condition precedent to the settlement of any Award, require from the Participant
(or in the event of his or her death, his or her legal representatives, heirs, legatees, or distributees) such written representations, if any, concerning the holder’s intentions with regard to the retention or disposition of the shares of
Stock being acquired pursuant to the Award and such written covenants and agreements, if any, as to the manner of disposal of such shares as, in the opinion of counsel to the Company, may be necessary to ensure that any disposition by that holder
(or in the event of the holder’s death, his or her legal representatives, heirs, legatees, or distributees) will not involve a violation of the Securities Act, any other applicable state or federal statute or regulation, or any rule of any
applicable securities exchange or securities association, as then in effect. Stock or other securities shall not be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award
Agreement (including any tax withholding) is received by the Company. 
 (k)    Clawback. The Plan and all Awards
granted hereunder are subject to any written clawback policies that the Company, with the approval of the Board or an authorized committee thereof, may adopt either prior to or following the Effective Date, including any policy adopted to conform to
the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and rules promulgated thereunder by the SEC and that the Company determines should apply to Awards. Any such policy may subject a Participant’s Awards and amounts paid or
realized with respect to Awards to reduction, cancelation, forfeiture or recoupment if certain specified events or wrongful conduct occur, including an accounting restatement due to the Company’s material noncompliance with financial reporting
regulations or other events or wrongful conduct specified in any such clawback policy. 
 (l)    Status under
ERISA. The Plan shall not constitute an “employee benefit plan” for purposes of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended. 

(m)    Plan Effective Date and Term. The Plan was adopted by the Board to be effective on the Effective Date. No
Awards may be granted under the Plan on and after November 1, 2020. However, any Award granted prior to such termination (or any earlier termination pursuant to Section 10), and the authority of the Board or Committee
to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award in accordance with the terms of the Plan, shall extend beyond such termination until the final disposition of such
Award. 
 10.    Amendments to the Plan and Awards. The Committee may amend, alter, suspend, discontinue
or terminate any Award or Award Agreement, the Plan or the Committee’s authority to grant Awards without the consent of stockholders or Participants, except that any amendment or alteration to the Plan, including any increase in any share
limitation, shall be subject to the approval of the Company’s stockholders not later than the annual meeting next following such Committee action if such stockholder approval is required by any federal or state law or regulation or the rules of
any stock exchange or automated quotation system on which the Stock may then be listed or quoted, and the Committee may otherwise, in its discretion, determine to submit other changes to the Plan to stockholders for approval; provided, that,
without the consent of an affected Participant, no such Committee action may materially and 

  
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adversely affect the rights of such Participant under any previously granted and outstanding Award. For purposes of clarity, any adjustments made to Awards pursuant to
Section 8 will be deemed not to materially and adversely affect the rights of any Participant under any previously granted and outstanding Award and therefore may be made without the consent of affected Participants. 

  
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