EX-10.3





 Exhibit 10.3 

ICON HEALTH & FITNESS, INC. 

2014 STOCK OPTION PLAN 
 Article 1.
Establishment & Purpose 
 1.1 Establishment. ICON Health & Fitness, Inc., a Delaware corporation (the
“Company”), hereby establishes the 2014 Stock Option Plan (this “Plan”) as set forth herein. 
 1.2
Purpose of this Plan. The purpose of this Plan is to attract, retain and motivate the officers, directors, employees and consultants of the Company and its Subsidiaries and Affiliates, and to promote the success of the Company’s
business by providing them with appropriate incentives and rewards either through a proprietary interest in the long-term success of the Company or compensation based on fulfilling certain performance goals. 

Article 2. Definitions 
 Capitalized terms
used and not otherwise defined herein shall have the meanings set forth below. 
 2.1 “Affiliate”
means, with respect to any specified Person, any other Person which, directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise). Unless otherwise specifically indicated,
when used herein the term Affiliate shall refer to an Affiliate of the Company. 
 2.2 “Award”
means any Option, Stock Appreciation Right, Restricted Stock, or Other Stock- Based Award that is granted under this Plan. 
 2.3
“Award Agreement” means either (a) a written agreement entered into by the Company and a Participant setting forth the terms, conditions and provisions applicable to an Award, or (b) a written
statement signed by an authorized officer of the Company to a Participant describing the terms, conditions and provisions of the actual grant of such Award. 

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

2.5 “Cause” means, with respect to any Participant, “Cause” as defined in the employment
agreement, if any, by and between the Company or any Subsidiary and the Participant or, if not so defined, the Participant’s: (a) breach of any fiduciary duty or legal or contractual obligation (including any restrictive covenants) to the
Company or any Affiliate, or to the Company’s direct or indirect equity holders, (b) failure to follow the reasonable instructions of the Board or the Participant’s direct supervisor, which breach, if curable, is not cured within ten
(10) business days after notice to the Participant or, if cured, recurs within 180 days, (c) gross negligence, willful misconduct, fraud, insubordination, acts of dishonesty, persistent neglect of duty, chronic unapproved absenteeism or
conflict of interest relating to the Company or any Affiliate, (d) commission of, indictment for or plea of nolo contendere with respect to any felony or any misdemeanor involving moral turpitude, (e) use of illegal drugs or alcohol
that adversely affects the Participant’s performance or the Participant’s duties or that adversely affects the reputation or best interests of the Company or any Affiliate, or (f) material noncompliance with the Company’s written
policy or code of conduct as in effect from time to time. 












 2.6 “Change of Control”
unless otherwise specified in the Award Agreement, means (a) any transaction or series of related transactions in which any Person or group of Persons, other than the Company, any of its Affiliates or Subsidiaries shall (i) acquire,
whether by purchase, exchange, tender offer, merger, consolidation, recapitalization or otherwise, or (ii) otherwise be the owner of (as a result of a redemption of Shares or otherwise), Shares (or shares in a successor corporation by merger,
consolidation or otherwise) such that following such transaction or transactions, such Person or group and their respective Affiliates collectively beneficially own fifty percent (50%) or more of the voting power at elections for the Board or the
board of directors of any successor corporation, or (b) the sale or transfer of all or substantially all of the Company’s assets; provided, that, to the extent necessary to comply with Section 409A of the Code with respect to the
payment of deferred compensation, “Change of Control” shall be limited to a “change in control event” as defined under Section 409A of the Code. 

2.7 “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

2.8 “Committee” means the Board, or any committee designated by the Board to administer this Plan in
accordance with Article 3 of this Plan. 
 2.9 “Consultant” means any person who provides
bona fide services to the Company or any Affiliate or Subsidiary as a consultant or advisor, excluding any Employee or Director. 

2.10 “Director” means a member of the Board who is not an Employee. 

2.11 “Disability” means permanent and total disability within the meaning of Section 22(e)(3)
of the Code, as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code. 
 2.12
“Employee” means an officer or other employee of the Company or any Subsidiary or Affiliate, including a member of the Board who is such an employee. 

2.13 “Fair Market Value” means, as of any day, with respect to the Shares: 

 

	 	(a)	 if the Shares are immediately and freely tradable on a stock exchange or in over- the-counter market, the closing price per Share on the preceding day, or if no trades were made on such date, the immediately preceding day on which trades were made; or 



 

	 	(b)	 in the absence of such a market for the Shares, the fair value per Share as determined in good faith by the
Board and, for the purpose of determining the Option Price or grant price of an Award, consistent with the principles of Section 409A of the Code. 



2.14 “Incentive Stock Option” means an Option intended to meet the requirements of an incentive
stock option as defined in Section 422 of the Code and designated as an Incentive Stock Option in accordance with Article 6 of this Plan. 

2.15 “Nonqualified Stock Option” means an Option that is not an Incentive Stock Option. 

2.16 “Option” means any Option granted from time to time under Article 6 of this Plan. 

2.17 “Option Price” means the purchase price per Share subject to an Option, as determined
pursuant to Section 6.2 of this Plan. 

  
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 2.18 “Other Stock-Based Award” means any Award granted under
Article 9 of this Plan. 
 2.19 “Participant” means any eligible person as set forth in
Section 4.1 to whom an Award is granted. 
 2.20 “Person” means any
natural person, sole proprietorship, general partnership, limited partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, governmental authority, or any other organization, irrespective of
whether it is a legal entity and includes any successor (by merger or otherwise) of such entity. 
 2.21 “Restricted
Stock” means any Award granted under Article 8 of this Plan. 
 2.22 “Restriction
Period” means the period during which Restricted Stock awarded under Article 8 of this Plan is restricted. 

2.23 “Service” means service as an Employee, Director or Consultant. 

2.24 “Share” means a share of common stock of the Company, par value $0.001 per share, or such other class or
kind of shares or other securities resulting from the application of Article 11 of this Plan. 
 2.25 “Stock
Appreciation Right” means any right granted under Article 7 of this Plan 
 2.26
“Stockholders Agreement” means that certain HF Holdings, Inc. amended and Restated Stockholders Agreement dated September 26, 2006 entered into by and among the Company and the stockholders listed on the signature
pages thereto, as may be amended from time to time. 
 2.27 “Subsidiary” with respect to any
entity (the “parent”) means any corporation, limited liability company, company, firm, association or trust of which such parent, at the time in respect of which such term is used, (i) owns directly or indirectly more than fifty
percent (50%) of the equity, membership interest or beneficial interest, on a consolidated basis, or (ii) owns directly or controls with power to vote, directly or indirectly through one or more Subsidiaries, shares of the equity, membership
interest or beneficial interest having the power to elect more than fifty percent (50%) of the directors, trustees, managers or other officials having powers analogous to that of directors of a corporation. Unless otherwise specifically indicated,
when used herein the term Subsidiary shall refer to a direct or indirect Subsidiary of the Company. 
 2.28 “Ten Percent
Shareholder” means a person who on any given date owns, either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing more than ten percent (10%) of the
total combined voting power of all classes of stock of the Company or a Subsidiary or Affiliate. 
 Article 3. Administration 

3.1 Authority of the Committee. This Plan shall be administered by the Committee, which shall have full power to interpret and
administer this Plan and full authority to select the Directors, Employees and Consultants to whom Awards will be granted and determine the type and amount of Awards to be granted to each such Director, Employee or Consultant, the terms and
conditions of such Awards. Without limiting the generality of the foregoing, the Committee may, in its sole discretion, interpret, clarify, construe or resolve any ambiguity in any provision of this Plan or any Award Agreement, accelerate or waive
vesting of Awards and exercisability of Awards, extend the term or 

  
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period of exercisability of any Awards, modify the purchase price or Option Price of any Award, or waive any terms or conditions applicable to any Award, subject to the limitations set forth in
Section 12.2 of this Plan. Awards may, in the discretion of the Committee, be made under this Plan in assumption of, or in substitution for, outstanding awards previously granted by the Company or an Affiliate or a company
acquired by the Company or with which the Company combines. The Committee shall have full and exclusive discretionary power to adopt rules, forms, instruments and guidelines for administering this Plan as the Committee deems necessary or proper. All
actions taken and all interpretations and determinations made by the Committee or by the Board (or any other committee or sub-committee thereof), as applicable, shall be final and binding upon the
Participants, the Company and all other interested individuals. 
 3.2 Delegation. The Committee may delegate to one or more of
its members, one or more officers of the Company or any Subsidiary, or one or more agents or advisors such administrative duties or powers as it may deem advisable. 

Article 4. Eligibility and Participation 

4.1 Eligibility. Participants will consist of such Employees, Directors and Consultants as the Committee in its sole discretion
determines and whom the Committee may designate from time to time to receive Awards under this Plan; provided, however, that Options and Stock Appreciation Rights may only be granted to those Employees, Directors and Consultants with
respect to whom the Company is an “eligible issuer” within the meaning of Section 409A of the Code. Designation of a Participant in any year shall not require the Committee to designate such person to receive an Award in any other
year or, once designated, to receive the same type or amount of Award as granted to the Participant in any other year. 
 4.2 Type
of Awards. Awards under this Plan may be granted in any one or a combination of: (a) Options; (b) Stock Appreciation Rights; (c) Restricted Stock; and (d) Other Stock-Based Awards. Awards granted under this Plan shall be evidenced
by Award Agreements (which need not be identical) that provide additional terms and conditions associated with such Awards, including, without limitation restrictive covenants, as determined by the Committee in its sole discretion; provided,
however, that in the event of any conflict between the provisions of this Plan and any such Award Agreement, the provisions of this Plan shall prevail. 

Article 5. Shares Subject to this Plan and Maximum Awards 

5.1 Number of Shares Available for Awards. 
  

	 	(a)	 Shares. Subject to adjustment as provided in this Article 5 and Article 11 of the Plan,
the maximum number of Shares available for issuance to Participants pursuant to Awards under the Plan shall be 730,000. The Shares available for issuance under the Plan may consist, in whole or in part, of authorized and unissued Shares or treasury
Shares. Any Shares tendered to or withheld by the Company as part or full payment for the purchase price, Option Price or grant price of an Award or to satisfy all or part of the Company’s tax withholding obligation with respect to an Award
shall not be available for the issuance of additional Awards. 



  
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	 	(b)	 Additional Shares. In the event that any outstanding Award expires, is forfeited, cancelled or otherwise
terminated without consideration (i.e., Shares or cash) therefor, the Shares subject to such Award, to the extent of any such forfeiture, cancellation, expiration, termination or settlement for cash, shall again be available for Awards under this
Plan. If the Committee authorizes the assumption under this Plan, in connection with any merger, consolidation, acquisition of property or stock, or reorganization, of awards granted under another plan, such assumption shall not reduce the maximum
number of Shares available for issuance under this Plan.1 


 Article 6. Options

 6.1 Grant of Options. The Committee is hereby authorized to grant Options to Participants. Each Option shall permit a
Participant to purchase from the Company a stated number of Shares at an Option Price established by the Committee, subject to the terms and conditions described in this Article 6 and to such additional terms and conditions, as established by
the Committee, in its sole discretion, that are consistent with the provisions of the Plan. Options shall be designated as either Incentive Stock Options or Nonqualified Stock Options; provided, that, Options granted to Directors shall
be Nonqualified Stock Options. An Option granted as an Incentive Stock Option shall, to the extent it fails to qualify under the Code as an Incentive Stock Option, be treated as a Nonqualified Stock Option. Neither the Committee, the Company, any of
its Subsidiaries or Affiliates, nor any of their employees or representatives shall be liable to any Participant or to any other Person if it is determined that an Option intended to be an Incentive Stock Option does not qualify under the Code as an
Incentive Stock Option. Each Option shall be evidenced by an Award Agreement which shall state the number of Shares covered by such Option. Such Award Agreements shall conform to the requirements of the Plan and may contain such other provisions as
the Committee shall deem advisable. 
 6.2 Option Price. The Option Price shall be determined by the Committee at the time of
grant, but shall not be less than one-hundred percent (100%) of the Fair Market Value of a Share on the date of grant. In the case of any Incentive Stock Option granted to a Ten Percent Shareholder, the Option
Price shall not be less than one-hundred-ten percent (110%) of the Fair Market Value of a Share on the date of grant. 

6.3 Option Term. The term of each Option shall be determined by the Committee at the time of grant and shall be stated in the
Award Agreement, but in no event shall such term be greater than ten (10) years (or, in the case on an Incentive Stock Option granted to a Ten Percent Shareholder, five (5) years). 

6.4 Time of Exercise. Options granted under this Article 6 shall be exercisable at such times and be subject to such
restrictions and conditions as the Committee shall in each instance approve as set forth in each Award Agreement, which terms and restrictions need not be the same for each grant or for each Participant. 

6.5 Method of Exercise. Except as otherwise provided in the Plan or in an Award Agreement, an Option may be exercised for all, or
from time to time any part, of the Shares for which it is then exercisable. For purposes of this Article 6, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable, the
date full payment is received by the Company pursuant to clauses (a), (b), (c), (d), or (e) of the following sentence (including the 

 

	1 	 NTD: If any “additional shares” become available (i.e., if an option expires, is forfeited,
cancelled or otherwise tenninated prior to exercise), such shares could become available for grants in the future. Such future grants could be subject to vesting. A sample vesting condition is as follows: “The Option shall vest in five
(5) equal annual installments on each of the first five (5) anniversaries of the Date of Grant, subject to the Participant’s continued Service through the applicable vesting date, such that twenty percent (20%) of the Option shall
vest on each vesting date”. 



  
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applicable tax withholding pursuant to Section 14.3 of the Plan). The aggregate Option Price for the Shares as to which an Option is exercised shall be paid to the
Company in full at the time of exercise at the election of the Participant: (a) in cash or its equivalent (e.g., by cashier’s check); (b) to the extent permitted by the Committee, in Shares (whether or not previously owned by the
Participant) having a Fair Market Value equal to the aggregate Option Price for the Shares being purchased and satisfying such other requirements as may be imposed by the Committee; (c) partly in cash and, to the extent permitted by the
Committee, partly in such Shares (as described in (b) above); (d) to the extent permitted by the Committee, by reducing the number of Shares otherwise deliverable upon the exercise of the Option by the number of Shares having a Fair Market
Value equal to the Option Price; or (e) if there is a public market for the Shares at such time, subject to such requirements as may be imposed by the Committee, through the delivery of irrevocable instructions to a broker to sell Shares
obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased. The Committee may prescribe any other method of payment
that it determines to be consistent with applicable law and the purpose of the Plan. 
 6.6 Limitations on Incentive Stock Options.
Incentive Stock Options may be granted only to employees of the Company or of a “parent corporation” or “subsidiary corporation” (as such terms are defined in Section 424 of the Code) at the date of grant. The aggregate
Fair Market Value (generally determined as of the time the Option is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year under all plans of the Company and
of any “parent corporation” or “subsidiary corporation” shall not exceed one hundred thousand dollars ($100,000), or the Option shall be treated as a Nonqualified Stock Option, but only to the extent of that portion of the Option
in excess of the limit. For purposes of the preceding sentence, unless otherwise designated by the Company, Incentive Stock Options will be taken into account in the order in which they are granted. Each provision of the Plan and each Award
Agreement relating to an Incentive Stock Option shall be construed so that each Incentive Stock Option shall be an incentive stock option as defined in Section 422 of the Code, and any provisions of the Award Agreement thereof that cannot be so
construed shall be disregarded. 
 Article 7. Stock Appreciation Rights 

7.1 Grant of Stock Appreciation Rights. The Committee is hereby authorized to grant Stock Appreciation Rights to Participants.
Stock Appreciation Rights shall be evidenced by Award Agreements that shall conform to the requirements of the Plan and may contain such other provisions as the Committee shall deem advisable. Subject to the terms of the Plan and any applicable
Award Agreement, a Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive, upon exercise thereof, the excess of: (a) the Fair Market Value of a specified number of Shares on the date of exercise
over (b) the grant price of the right as specified by the Committee on the date of the grant. Such payment may be in the form of cash, Shares, other property or any combination thereof, as the Committee shall determine in its sole discretion.

 7.2 Terms of Stock Appreciation Right. Each Stock Appreciation Right grant shall be evidenced by an Award Agreement which
shall state the grant price (which shall not be less than one-hundred percent (100%) of the Fair Market Value of a Share on the date of grant), term, methods of exercise, methods of settlement, and such other
provisions as the Committee shall determine. No Stock Appreciation Right shall have a term of more than ten (10) years from the date of grant. 

  
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 Article 8. Restricted Stock 

8.1 Grant of Restricted Stock. The Committee is hereby authorized to grant Restricted Stock to Participants. An Award of Restricted
Stock is a grant by the Committee of a specified number of Shares to the Participant, which Shares are subject to forfeiture upon the occurrence of specified events. Participants shall be awarded Restricted Stock in exchange for consideration not
less than the minimum consideration required by applicable law. Restricted Stock shall be evidenced by an Award Agreement, which shall conform to the requirements of the Plan and may contain such other provisions as the Committee shall deem
advisable. 
 8.2 Terms of Restricted Stock Awards. Each Award Agreement evidencing a Restricted Stock grant shall specify the
Restriction Period(s), the number of Shares of Restricted Stock subject to the Award, the purchase price, if any, of the Restricted Stock, the performance, employment, or other conditions (including the termination of a Participant’s Service
whether due to death, disability or other reason) under which the Restricted Stock may be forfeited to the Company and such other provisions as the Committee shall determine. Any Restricted Stock granted under the Plan shall be evidenced in such
manner as the Committee may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates (in which case, the certiflcate(s) representing such Shares shall be legended as to sale, transfer, assignment, pledge
or other encumbrances during the Restriction Period and deposited by the Participant, together with a stock power endorsed in blank, with the Company, to be held in escrow during the Restriction Period). At the end of the Restriction Period, the
restrictions imposed hereunder and under the Award Agreement shall lapse with respect to the number of Shares of Restricted Stock as determined by the Committee, and, except as provided in Section 14.6, the legend required
by this Section 8.2 shall be removed and such number of Shares delivered to the Participant (or, where appropriate, the Participant’s legal representative). 

8.3 Voting and Dividend Rights. The Committee shall determine and set forth in a Participant’s Award Agreement whether or
not a Participant holding Restricted Stock granted hereunder shall have the right to exercise voting rights with respect to the Restricted Stock during the Restriction Period (the Committee may require a Participant to grant an irrevocable proxy and
power of substitution) and/or have the right to receive dividends on the Restricted Stock during the Restriction Period (and, if so, on what terms). 

8.4 Performance Goals. The Committee may condition the grant of Restricted Stock or the expiration of the Restriction Period upon
the Participant’s achievement of one or more performance goal(s) specified in the Award Agreement. If the Participant fails to achieve the specified performance goal(s), the Committee shall not grant the Restricted Stock to such Participant or
the Participant shall forfeit the Award of Restricted Stock to the Company, as applicable. 
 8.5 Section 83(b)
Election. If a Participant makes an election pursuant to Section 83(b) of the Code concerning Restricted Stock, the Participant shall be required to file promptly a copy of such election with the Company. 

Article 9. Other Stock-Based Awards 
 The
Committee, in its sole discretion, may grant Awards of Shares and Awards that are valued, in whole or in part, by reference to, or are otherwise based on the Fair Market Value of, Shares, including without limitation, restricted stock units,
dividend equivalent rights, and other phantom awards. Such Other Stock-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including, without limitation, the right to receive one or more Shares (or
the equivalent cash value of such Shares) upon the completion of a specified period of Service, the occurrence of an event, and/or the attainment of performance objectives. Subject to the provisions of the Plan, the Committee shall determine to whom
and when Other Stock-Based Awards will be made, the number of Shares to be awarded under (or otherwise related to) such Other Stock-Based Awards, whether such Other Stock-Based Awards shall be settled in cash, Shares or a combination of cash and
Shares, and all other terms and conditions of such Awards (including, without limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and
non-assessable). Each Other Stock-Based Award grant shall be evidenced by an Award Agreement, which shall conform to the requirements of the Plan. 

  
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 Article 10. Compliance with Section 409A of the Code 

10.1 General. The Company intends that the Plan and all Awards be construed to avoid the imposition of additional taxes,
interest, and penalties pursuant to Section 409A of the Code (together with all regulations, guidance, compliance programs, and other interpretative authority thereunder (“Section 409A”). Notwithstanding the
Company’s intention, in the event any Award is subject to such additional taxes, interest or penalties pursuant to Section 409A, the Committee may, in its sole discretion and without a Participant’s prior consent, amend the Plan
and/or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as are necessary or appropriate to (a) exempt the Plan and/or any Award from the
application of Section 409A, (b) preserve the intended tax treatment of any such Award, or (c) comply with the requirements of Section 409A, including without limitation any such regulations, guidance, compliance programs, and
other interpretative authority that may be issued after the date of the grant. In no event shall the Company or any of its Subsidiaries or Affiliates be liable for any additional tax, interest or penalties that may be imposed on a Participant under
Section 409A or any damages for failing to comply with Section 409A. 
 10.2 Payments to Specified Employees.
Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of nonqualified deferred compensation (within the meaning of Section 409A) that are otherwise required to be made under the Plan to a “specified
employee” (as defined under Section 409A) as a result of his or her separation from service (other than a payment that is not subject to Section 409A) shall be delayed for the first six (6) months following such separation from
service (or, if earlier, until the date of death of the specified employee) and shall instead be paid (in a manner set forth in the Award Agreement) on the day that immediately follows the end of such
six-month period or as soon as administratively practicable thereafter. Any remaining payments of nonqualified deferred compensation shall be paid without delay and at the time or times such payments are
otherwise scheduled to be made. 
 10.3 Separation from Service. A termination of Service shall not be deemed to have occurred
for purposes of any provision of the Plan or any Award Agreement providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Section 409A upon or following a termination of Service, unless
such termination is also a “separation from service” within the meaning of Section 409A and the payment thereof prior to a “separation from service” would violate Section 409A. For purposes of any such provision of the
Plan or any Award Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment,” “termination of service,” or like terms shall mean “separation from service.”

 Article 11. Adjustments 
 11.1
Adjustments in Authorized Shares. In the event of any corporate event or transaction involving the Company, a Subsidiary and/or an Affiliate (including, but not limited to, a change in the Shares of the Company or the capitalization of the
Company) such as a merger, consolidation, reorganization, recapitalization, separation, stock dividend, stock split, reverse stock split, split up, spin off, combination of Shares, exchange of Shares, dividend in kind, extraordinary cash dividend,
amalgamation, or other like change in capital structure (other than normal cash dividends to stockholders of the Company), or any similar corporate event or transaction, the Committee, to prevent dilution or enlargement of Participants’ rights
under the Plan, shall substitute or adjust, in its sole discretion, the 

  
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number and kind of Shares or other property that may be issued under the Plan or under particular forms of Awards, the number and kind of Shares or other property subject to outstanding Awards,
the Option Price, grant price or purchase price applicable to outstanding Awards and/or other value determinations (including performance conditions) applicable to the Plan or outstanding Awards. All adjustments shall be made in good faith
compliance with Section 409A. For the avoidance of doubt, the purchase of Shares or other equity securities of the Company by a stockholder of the Company or any third party from the Company shall not constitute a corporate event or transaction
giving rise to an adjustment described in this Section 11.1. 
 11.2 Change of Control. Upon the
occurrence of a Change of Control after the Effective Date, unless otherwise specifically prohibited under applicable laws or by the rules and regulations of any governing governmental agencies or national securities exchanges, or unless the
Committee shall specify otherwise in the Award Agreement, the Committee is authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including without limitation the following (or any combination thereof):
(a) continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (b) substitution by the surviving company or
corporation or its parent of awards with substantially the same terms for outstanding Awards (excluding the consideration payable upon settlement of the Awards); (c) accelerated exercisability, vesting and/or lapse of restrictions under outstanding
Awards immediately prior to the occurrence of such event; (d) upon written notice, provide that any outstanding Awards must be exercised, to the extent then exercisable, during a reasonable period of time immediately prior to the scheduled
consummation of the event or such other period as determined by the Committee (contingent upon the consummation of the event), and at the end of such period, such Awards shall terminate to the extent not so exercised within the relevant period;
(e) cancellation of all or any portion of outstanding Awards for fair value (in the form of cash, Shares, other property or any combination thereof) as determined in the sole discretion of the Committee and which value may be zero, provided,
that, in the case of Options and Stock Appreciation Rights or similar Awards, the fair value may equal the excess, if any, of the value of the consideration to be paid in the Change of Control transaction to holders of the same number of Shares
subject to such Awards (or, if no such consideration is paid, Fair Market Value of the Shares subject to such outstanding Awards or portion thereof being canceled) over the aggregate Option Price or grant price, as applicable, with respect to such
Awards or portion thereof being canceled, or if no such excess, zero; and (f) cancellation of all or any portion of outstanding unvested and/or unexercisable Awards for no consideration. 

Article 12. Duration; Amendment, Modification, Suspension and Termination 

12.1 Duration of Plan. Unless sooner terminated as provided in Section 12.2, this Plan shall terminate
on the tenth anniversary of the Effective Date. 
 12.2 Amendment, Modification, Suspension and Termination of Plan. Subject to
the terms of the Plan, the Committee may amend, alter, suspend, discontinue or terminate this Plan or any portion thereof or any Award (or Award Agreement) hereunder at any time, in its sole discretion, provided, that, no action taken
by the Committee shall adversely affect in any material respect the rights granted to any Participant under any outstanding Awards (other than pursuant to Article 10, Article 11, or as the Committee deems necessary to comply with
applicable law, including without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act) without the Participant’s written consent. 

Article 13. Forfeiture of Awards Upon Termination of Service 

13.1 Termination of Service for Cause. Unless otherwise provided in an Award Agreement, in the event (a) a Participant’s
Service is terminated for Cause or (b) the Board determines that a Participant’s acts or omissions constitute Cause, all outstanding Awards held by the Participant shall terminate and be forfeited without consideration, effective on the
date the Participant’s Service is terminated for Cause or the date the act or omission constituting Cause is determined to have occurred, as applicable. 

  
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 13.2 Termination of Service Due to Death or Disability. Unless otherwise
provided in an Award Agreement, in the event a Participant’s Service is terminated due to death or Disability (and Cause does not exist as of such date): (a) all unvested Awards held by the Participant shall terminate and be forfeited without
consideration, effective as of the date the Participant’s Service is terminated and (b) all vested Options and Stock Appreciation Rights shall terminate on the earlier of (i) one year following the termination of Service and
(ii) the expiration of the term of such Options and Stock Appreciation Rights. 
 13.3 Termination of Service for Reason Other
than Cause, Death or Disability. Unless otherwise provided in an Award Agreement, in the event a Participant’s Service is terminated for any reason other pursuant to Section 13.1 and
Section 13.2 above (and Cause does not exist as of such date): (a) all unvested Awards held by the Participant shall terminate and be forfeited without consideration, effective as of the date the Participant’s Service
is terminated and (b) all vested Options and Stock Appreciation Rights shall terminate on the earlier of (i) ninety (90) days following the termination of Service and (ii) the expiration of the term of such Options and Stock
Appreciation Rights. 
 Article 14. General Provisions 

14.1 No Right to Service or Award. The granting of an Award under the Plan shall impose no obligation on the Company, any
Subsidiary or any Affiliate to continue the Service of a Participant and shall not lessen or affect any right that the Company, any Subsidiary or any Affiliate may have to terminate the Service of such Participant. No Participant or other Person
shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and
interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly situated). 

14.2 Settlement of Awards. Each Award Agreement shall establish the form in which the Award shall be settled. The Committee
shall determine whether cash, Awards, other securities or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be issued, rounded, forfeited, or otherwise eliminated. 

14.3 Tax Withholding. The Company shall have the power and the right to deduct or withhold automatically from any amount
deliverable under the Award or otherwise, or require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to
any taxable event arising as a result of the Plan. Participants may elect, subject to the approval of the Committee, in its sole discretion, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a
Fair Market Value equal to the minimum statutory total tax that could be imposed in connection with any such taxable event. 
 14.4
No Guarantees Regarding Tax Treatment. Participants (or their beneficiaries) shall be responsible for all taxes with respect to any Awards under the Plan. The Committee and the Company make no guarantees to any Person regarding the tax
treatment of Awards or payments made under the Plan. Neither the Committee nor the Company has any obligation to take any action to prevent the assessment of any tax on any Person with respect to any Award under Section 409A of the Code or
Section 457 A of the Code or otherwise and none of the Company, any of its Subsidiaries or Affiliates, or any of their employees or representatives shall have any liability to a Participant with respect thereto. 

  
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 14.5 Non-Transferability of Awards. Unless
otherwise determined by the Committee, an Award shall not be transferable or assignable by the Participant except in the event of his death (subject to the applicable laws of descent and distribution) and any such purported assignment, alienation,
pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. No transfer shall be permitted for value or consideration. An award exercisable after the death of a Participant may be exercised
by the heirs, legatees, personal representatives or distributees of the Participant. Any permitted transfer of the Awards to heirs, legatees, personal representatives or distributees of the Participant shall not be effective to bind the Company
unless the Committee shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and
conditions hereof. 
 14.6 Stockholders Agreement; Conditions and Restrictions on Shares. Shares received in connection with Awards
granted hereunder shall be subject to all of the terms and conditions of the Stockholders Agreement, including all transfer restrictions and “take along” rights set forth therein. As a condition to receiving, exercising or settling an
Award, each Participant shall sign a joinder agreement pursuant to which the Participant shall become fully bound by the terms set forth in the Stockholders Agreement. The Committee may impose such other conditions or restrictions on any Shares
received in connection with an Award as it may deem advisable or desirable. These restrictions may include, but shall not be limited to, requirements that the Participant: (a) hold the Shares received for a specified period of time or
(b) represent and warrant in writing that the Participant is acquiring the Shares for investment and without any present intention to sell or distribute such Shares. The certificates for Shares may include any legend which the Committee deems
appropriate to reflect any conditions and restrictions applicable to such Shares. 
 14.7 Shares Not Registered. Shares and Awards
shall not be issued under this Plan unless the issuance and delivery of such Shares and any Awards comply with (or are exempt from) all applicable requirements of law, including, without limitation, the Securities Act of 1933, as amended, the rules
and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. The Company shall not be obligated to file
any registration statement under any applicable securities laws to permit the purchase or issuance of any Shares or any Awards under this Plan, and accordingly any certificates for Shares or documents granting Awards may have an appropriate legend
or statement of applicable restrictions endorsed thereon. If the Company deems it necessary to ensure that the issuance of securities under this Plan is not required to be registered under any applicable securities laws, each Participant to whom
such security would be purchased or issued shall deliver to the Company an agreement or certificate containing such representations, warranties and covenants as the Company reasonably requires. 

14.8 Awards to Non-U.S. Employees or Directors. To comply with the laws in countries other than
the United States in which the Company or any Subsidiary or Affiliate operates or has Employees, Directors or Consultants, the Committee, in its sole discretion, shall have the power and authority to: (a) determine which Subsidiaries or
Affiliates shall be covered by the Plan; (b) determine which Employees, Directors or Consultants outside the United States are eligible to participate in the Plan; (c) modify the terms and conditions of any Award granted to Employees,
Directors or Consultants outside the United States to comply with applicable foreign laws; (d) take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government
regulatory exemptions or approvals; and (e) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. 

  
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 14.9 Rights as a Stockholder. Except as otherwise provided herein or in the
applicable Award Agreement, a Participant shall have none of the rights of a stockholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares. 

14.10 Severability. 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 applicable laws, or if it cannot be so
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. 
 14.11 Unfunded Plan. Participants shall have no right, title, or interest
whatsoever in or to any investments that the Company or any of its Subsidiaries or Affiliates may make to aid it in meeting its obligations under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create
or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant, beneficiary, legal representative, or any other Person. To the extent that any Person acquires a right to receive payments from the
Company under the Plan, such right shall be no greater than the right of an unsecured general creditor of the Company. All payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be
established and no segregation of assets shall be made to assure payment of such amounts. The Plan is not subject to the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. 

14.12 No Constraint on Corporate Action. Nothing in the Plan shall be construed to: (a) limit, impair, or otherwise affect the
Company’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets;
or (b) limit the right or power of the Company to take any action which such entity deems to be necessary or appropriate. 
 14.13
Successors. All obligations of the Company under the Plan with respect to Awards granted hereunder 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 otherwise, of all or substantially all of the business or assets of the Company. 
 14.14 Governing Law. This Plan
and each Award Agreement and all claims or causes of action or other matters (whether in contract, tort or otherwise) that may be based upon, arise out of or relate to this Plan or any Award Agreement or the negotiation, execution or performance of
this Plan or any Award Agreement shall be governed by and construed in accordance with the laws of the State of Delaware], excluding any conflict or choice of law rule or principle that might otherwise refer construction or interpretation of this
Plan to the substantive law of another jurisdiction. 
 14.15 Effective Date. The Plan shall be effective as of the date of adoption
by the Board, which date is set forth below (the “Effective Date”). 

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 This Plan was
duly adopted and approved by the Board of Directors of the Company on the 13th day of January, 2014. 

  
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