Exhibit
4.1


 


Amended and Restated

American Axle & Manufacturing Holdings, Inc.


2018 Omnibus Incentive Plan


Article
1. ESTABLISHMENT, PURPOSE AND DURATION


1.1       Establishment.
American Axle & Manufacturing Holdings, Inc., a Delaware corporation, establishes an incentive compensation plan to be known as the
Amended and Restated American Axle & Manufacturing Holdings, Inc. 2018 Omnibus Incentive Plan, as set forth in this document.
This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted
Stock Units, Performance Shares, Performance Units, Cash-Based Awards and Other Stock-Based Awards. This Plan, as amended, shall become
effective on May 6, 2021 (the “Effective Date”) and shall remain in effect as provided in Section 1.3.


1.2       Purpose
of this Plan. The purpose of this Plan is to foster and promote the long-term financial success of the Company and materially increase
shareholder value by (a) motivating superior performance by means of performance-related incentives, (b) encouraging and providing
for the acquisition of an ownership interest in the Company by Employees as well as Non-Employee Directors and (c) enabling the Company
to attract and retain qualified and competent persons to serve as members of an outstanding management team and Board of Directors of
the Company upon whose judgment, interest, and performance are required for the successful and sustained operations of the Company.


1.3       Duration
of this Plan. Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date.
After this Plan is terminated, no Awards may be granted, but Awards previously granted shall remain outstanding in accordance with their
applicable terms and conditions and this Plan’s terms and conditions.


Article
2. DEFINITIONS


Whenever used in this Plan, the following terms
shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized.


2.1       “Annual
Award Limit” or “Annual Award Limits” have the meaning set forth in Section 4.3.


2.2       “Award”
means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards or Other Stock-Based Awards,
in each case subject to the terms of this Plan.


2.3       “Award
Agreement” means either (i) a written or electronic agreement entered into by the Company and a Participant setting forth
the terms and provisions applicable to an Award granted under this Plan, including any amendment or modification thereof, or (ii) a
written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any
amendment or modification thereof. The Committee may provide for the use of electronic, Internet or other non-paper Award Agreements,
and the use of electronic, Internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant. The Committee
shall have the exclusive authority to determine the terms of an Award Agreement evidencing an Award granted under this Plan, subject to
the provisions herein. The terms of an Award Agreement need not be uniform among all Participants or among similar types of Awards.


2.4       “Beneficial
Owner” or “Beneficial Ownership” shall have the meaning ascribed to such term in Rule 13d-3 of
the General Rules and Regulations under the Exchange Act.


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






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2.6       “Cash-Based
Award” means an Award, denominated in cash, granted to a Participant as described in Article 12.


2.7       “Code”
means the U.S. Internal Revenue Code of 1986, as amended from time to time, and the applicable regulations and guidance promulgated thereunder
and any successor or similar provision.


2.8       “Committee”
means the Compensation Committee of the Board or a subcommittee thereof or any other committee designated by the Board to administer this
Plan. The members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee
does not exist or cannot function for any reason, the Board may take any action under this Plan that would otherwise be the responsibility
of the Committee, in which case references to the “Committee” shall be deemed references to the Board. The Committee shall
be constituted to comply with the requirements of Rule 16(b) of the Exchange Act and any applicable listing or governance requirements
of any securities exchange on which the Shares are listed; provided, however, that, if any Committee member is found not
to have met the qualification requirements of Section 16(b) of the Exchange Act, any actions taken or Awards granted by the Committee
shall not be invalidated by such failure to so qualify.


2.9       “Change
in Control” means any one of the following:


(a)       any
person or entity, including a “group” as defined in Section 13(d)(3) of the Exchange Act other than the Company or a
wholly owned Subsidiary thereof or any employee benefit plan of the Company or any of its Subsidiaries, becomes the beneficial owner of
the Company’s securities having 30% or more of the combined voting power of the then outstanding securities of the Company that
may be cast for the election of Directors of the Company (other than as a result of an issuance of securities initiated by the Company
in the ordinary course of business);


(b)       as
the result of, or in connection with, any cash tender or exchange offer, merger or other business combination, sale of assets or contested
election, or any combination of the foregoing transactions, less than a majority of the combined voting power of the then outstanding
securities of the Company or any successor corporation or entity entitled to vote generally in the election of the Directors of the Company
or such other corporation or entity after such transaction are held in the aggregate by the holders of the Company’s securities
entitled to vote generally in the election of Directors of the Company immediately prior to such transaction;


(c)       during
any period of two consecutive years, individuals who at the beginning of any such period constitute the Board cease for any reason to
constitute at least a majority thereof, unless the election, or the nomination for election by the Company’s stockholders, of each
Director of the Company first elected during such period was approved by a vote of at least two-thirds of the Directors of the Company
then still in office who were Directors of the Company at the beginning of any such period; or


(d)       the
stockholders of the Company approve a plan of complete liquidation of the Company or the sale or disposition by the Company of all or
substantially all of the Company’s assets, other than a liquidation of the Company into a wholly owned subsidiary.


2.10       “Common
Stock” means the common stock of the Company, par value $0.01 per share, or such other class of share or other securities
as may be applicable under Section 4.4 of this Plan.


2.11       “Company”
means American Axle & Manufacturing Holdings, Inc., and any successor thereto as provided in Section 23.23.


2.12       “Director”
means any individual who is a member of the Board of Directors of the Company.






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2.13       “Disability”
means either of the following: (a) inability to engage in any substantial gainful activity by reason of any medically determinable physical
or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months;
or (b) by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months
under an accident and health plan covering Employees.


2.14       “Dividend
Equivalent” has the meaning set forth in Article 18.


2.15       “Effective
Date” has the meaning set forth in Section 1.1.


2.16       “Employee”
means any individual performing services for the Company or a Subsidiary and designated as an employee of the Company or the Subsidiary
on its payroll records. An Employee shall not include any individual during any period he or she is classified or treated by the Company
or Subsidiary as an independent contractor, a consultant or an employee of an employment, consulting or temporary agency or any other
entity other than the Company or Subsidiary, without regard to whether such individual is subsequently determined to have been, or is
subsequently retroactively reclassified, as a common-law employee of the Company or Subsidiary during such period. An individual shall
not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations
of the Company or between the Company or any Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed 90 days,
unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of
absence approved by the Company is not so guaranteed, then three months following the 91st day of such leave, any Incentive
Stock Option held by a Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified
Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute “employment”
by the Company.


2.17       “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto and the regulations
and guidance promulgated thereunder.


2.18       “Fair
Market Value” or “FMV” means, with respect to a Share, the fair market value thereof as of the relevant date
of determination, as determined in accordance with the valuation methodology approved by the Committee (based on objective criteria) from
time to time. In the absence of any alternative valuation methodology approved by the Committee, Fair Market Value shall be deemed to
be equal to the closing selling price of a Share on the trading day immediately preceding the date on which such valuation is made on
the New York Stock Exchange (“NYSE”), or such established national securities exchange as may be designated by the
Committee or, in the event that the Common Stock is not listed for trading on the NYSE or such other national securities exchange as may
be designated by the Committee but is quoted on an automated system, in any such case, on the valuation date (or, if there were no sales
on the valuation date, the average of the highest and lowest quoted selling prices as reported on said composite tape or automated system
for the most recent day during which a sale occurred). The definition of FMV may differ depending on whether FMV is in reference to the
grant, exercise, vesting, settlement or payout of an Award.


2.19       “Grant
Date” means the date an Award is granted to a Participant pursuant to this Plan.


2.20       “Grant
Price” means the price established at the time of grant of an SAR pursuant to Article 7.


2.21       “Incentive
Stock Option” or “ISO” means an Award granted pursuant to Article 6 that is designated as an Incentive
Stock Option and that is intended to meet the requirements of Code Section 422 or any successor provision.






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2.22       “Insider”
shall mean an individual who is, on the relevant date, an officer (as defined in Rule 16a-1(f) of the Exchange Act (or any successor
provision)) or Director of the Company, or a more than 10% Beneficial Owner of any class of the Company’s equity securities that
is registered pursuant to Section 12 of the Exchange Act, as determined by the Board in accordance with Section 16 of the Exchange
Act.


2.23       “Non-Employee
Director” means a Director who is not an Employee.


2.24       “Nonqualified
Stock Option” or “NQSO” means an Award granted pursuant to Article 6 that is not intended to meet the
requirements of Code Section 422, or that otherwise does not meet such requirements.


2.25       “Option”
means an Award granted to a Participant pursuant to Article 6, which Award may be an Incentive Stock Option or a Nonqualified Stock
Option.


2.26       “Option
Price” means the price at which a Share may be purchased by a Participant pursuant to an Option.


2.27       “Other
Stock-Based Award” means an equity-based or equity-related Award not otherwise described by the terms of this Plan that
is granted pursuant to Article 12.


2.28       “Participant”
means any eligible individual as set forth in Article 5 to whom an Award is granted.


2.29       “Performance
Measures” means measures, as described in Article 14, upon which performance goals are based.


2.30       “Performance
Period” means the period of time during which performance goals must be met in order to determine the degree of payout and/or
vesting with respect to an Award.


2.31       “Performance
Share” means an Award granted pursuant to Article 10.


2.32       “Performance
Unit” means an Award granted pursuant to Article 11.


2.33       “Period
of Restriction” means the period when Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture
(based on the passage of time, the achievement of performance goals or upon the occurrence of other events as determined by the Committee,
in its discretion) as provided in Articles 8 and 9.


2.34       “Person”
shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof,
including a “group” as defined in Section 13(d) thereof.


2.35       “Plan”
means the Amended & Restated American Axle & Manufacturing Holdings, Inc. 2018 Omnibus Incentive Plan, as may be amended
from time to time.


2.36       “Restricted
Stock” means an Award granted pursuant to Article 8.


2.37       “Restricted
Stock Unit” means an Award granted pursuant to Article 9.


2.38       “Retirement”
means the Participant’s voluntary resignation at any time (i) after attaining age 65, (ii) after attaining age 55 but prior to age
65 with ten or more years of continuous service with the Company or a Subsidiary or (iii) after attaining age 60 but prior to age 65 with
five or more years of continuous service with the Company or a Subsidiary.






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2.39       “Share”
means a share of Common Stock.


2.40       “Stock
Appreciation Right” or “SAR” means an Award granted pursuant to Article 7.


2.41       “Subsidiary”
means (i) a corporation or other entity (domestic or foreign) with respect to which the Company, directly or indirectly, has the
power, whether through the ownership of voting securities, by contract or otherwise, to elect at least a majority of the members of such
corporation’s board of directors or analogous governing body, or (ii) any other corporation or entity in which the Company,
directly or indirectly, has an equity or similar interest and which the Committee designates as a Subsidiary for purposes of this Plan.


2.42       “Successor”
has the meaning set forth in Section 23.23.


2.43       “Termination
of Employment” means the termination of the Participant’s employment with the Company and the Subsidiaries, regardless
of the reason for the termination of employment.


2.44       “Termination
of Directorship” means the time when a Non-Employee Director ceases to be a Non-Employee Director for any reason, including,
but not by way of limitation, a termination by resignation, failure to be elected or death.


2.45       “Third-Party
Service Provider” means any consultant, agent, advisor or independent contractor who renders bona fide services to the Company
or a Subsidiary that (a) are not in connection with the offer and sale of the Company’s securities in a capital raising transaction,
(b) do not directly or indirectly promote or maintain a market for the Company’s securities and (c) are provided by a
natural person who has contracted directly with the Company or Subsidiary to render such services.


Article
3. ADMINISTRATION


3.1       General.
The Committee shall be responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan.
The Committee may employ attorneys, consultants, accountants, agents and other individuals, any of whom may be an Employee, and the Committee,
the Company and its officers and Directors shall be entitled to rely upon the advice, opinions or valuations of any such individuals.
No member of the Committee shall be liable for any action taken or not taken in reliance upon any such information and/or advice. All
actions taken and all interpretations and determinations made by the Committee shall be made in its sole discretion and shall be final,
binding and conclusive upon the Participants, the Company or Subsidiary, and all other interested individuals.


3.2       Authority
of the Committee. Subject to any express limitations set forth in this Plan, the Committee shall have full and exclusive discretionary
power and authority to take such actions as it deems necessary and advisable with respect to the administration, interpretation and implementation
of this Plan including, but not limited to, the following:


(a)       To
determine from time to time which of the persons eligible under the Plan shall be granted Awards, when and how each Award shall be granted,
what type or combination of types of Awards shall be granted, the provisions of each Award granted (which need not be identical), including
the time or times when a person shall be permitted to receive Shares pursuant to an Award, and the number of Shares subject to an Award;


(b)       To
construe and interpret this Plan and the Awards granted under it, and to establish, amend and revoke rules and regulations for its
administration. The Committee, in the exercise of this power, may correct any defect, omission or inconsistency in this Plan or in an
Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make this Plan fully effective;


(c)       To
approve forms of Award Agreements for use under this Plan;


 






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(d)       To
determine Fair Market Value of a Share in accordance with Section 2.18 of this Plan;


(e)       To
amend this Plan, an Award or any Award Agreement after the date of grant subject to the terms of this Plan;


(f)       To
adopt sub-plans and/or special provisions applicable to stock awards regulated by the laws of a jurisdiction other than and outside of
the United States. Such sub-plans and/or special provisions may take precedence over other provisions of this Plan, but unless otherwise
superseded by the terms of such sub-plans and/or special provisions, the provisions of this Plan shall govern;


(g)       To
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by
the Board;


(h)       To
determine whether Awards will be settled in Shares, cash or in any combination thereof;


(i)       To
determine whether Awards will provide for Dividend Equivalents;


(j)       To
establish a program whereby Participants designated by the Committee may elect to receive Awards under this Plan in lieu of compensation
otherwise payable in cash; and


(k)       To
impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant
or other subsequent transfers by a Participant of any Shares, including, without limitation, restrictions under an insider trading policy
and restrictions as to the use of a specified brokerage firm for such resales or other transfers.


3.3       Delegation.
To the extent not prohibited by applicable laws, rules and regulations, the Committee may delegate to (i) one or more of its
members, (ii) one or more officers of the Company or any Subsidiary or (iii) one or more agents or advisors such administrative
duties or powers as it may deem appropriate or advisable under such conditions and limitations as the Committee may set at the time of
such delegation or thereafter. The Committee or any individuals to whom it has delegated duties or powers as aforesaid may employ one or
more individuals to render advice with respect to any responsibility the Committee or such individuals may have under this Plan. Notwithstanding
the foregoing, the Committee may not delegate its authority (i) to make Awards to Employees (A) who are Insiders or (B) who
are officers of the Company who are delegated authority by the Committee hereunder, or (ii) pursuant to Section 21 of this
Plan. For purposes of this Plan, reference to the Committee shall be deemed to refer to any subcommittee, subcommittees or other persons
or groups of persons to whom the Committee delegates authority pursuant to this Section 3.3.


Article
4. SHARES SUBJECT TO THIS PLAN AND MAXIMUM AWARDS


4.1       Number
of Shares Authorized and Available for Awards. Subject to adjustment as provided under the Plan, the maximum number of Shares that
are available for Awards under this Plan shall be 8,600,000 Shares plus (i) any reserved Shares not issued or subject to outstanding grants
under the Amended and Restated 2012 Omnibus Incentive Plan (the “Prior Plan”) on the Effective Date and (ii) the number of
Shares underlying any award granted under the Prior Plan that expires, terminates or is canceled or forfeited and which the shares related
thereto are again available for grant under the terms of the Prior Plan. Such Shares may be authorized and unissued Shares, Shares that
have been reacquired by the Company, treasury Shares or any combination of the foregoing, as may be determined from time to time by the
Board or by the Committee. Any of the authorized Shares may be used for any type of Award under this Plan, and any or all of the Shares
may be allocated to Incentive Stock Options.


 






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4.2       Share
Usage. The number of Shares remaining available for issuance will be reduced by the number of Shares subject to outstanding Awards
and, for Awards that are not denominated by Shares, by the number of Shares actually delivered upon settlement or payment of the Award.
For purposes of determining the number of Shares that remain available for issuance under this Plan, the number of Shares related to an
Award granted under this Plan that terminates by expiration, forfeiture, cancellation or otherwise without the issuance of the Shares,
and are settled through the issuance of consideration other than Shares (including cash), shall be available again for grant under this
Plan. The following Shares, however, shall not be available again for grant under this Plan;


(a)       Shares
not issued or delivered as a result of net settlement of an outstanding Option or SAR;


(b)       Shares
delivered to or withheld by the Company to pay the exercise price of or withholding taxes with respect to an Option or SAR; and


(c)       Shares
repurchased with proceeds from the payment of the exercise price of an Option or SAR.


4.3       Annual
Award Limits. Subject to adjustments pursuant to Section 4.4 and, in the case of Non-Employee Directors, Section 16.1:


(a)       the
maximum number of Shares that may be issued pursuant to Options and SARs granted to any Participant in any calendar year shall be
2,000,000 Shares;


(b)       the
maximum number of Shares that may be paid to any Participant in any calendar year under an Award of Restricted Stock, Restricted
Stock Units, Performance Shares or Other Stock Based Awards shall be 2,000,000 Shares, determined as of the date of grant; and


(c)       the
maximum aggregate amount that may be paid to any Participant in any calendar year under an Award of Performance Units, Cash-Based
Awards or any other Award that is payable in cash shall be $6,000,000, determined as of the date of grant.


4.4       Adjustments
in Authorized Shares. Adjustment in authorized Shares available for issuance under this Plan or under an outstanding Award and adjustments
in Annual Award Limits shall be subject to the following provisions:


(a)       In
the event of any corporate event or transaction such as a merger, consolidation, reorganization, recapitalization, separation, reclassification,
partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, distribution of stock or property
of the Company, combination of Shares, exchange of Shares, dividend in kind, extraordinary cash dividend, rights offering to purchase
Shares at a price that is substantially below FMV, or any other similar corporate event or transaction (“Corporate Transactions”),
the Committee, in order to preserve, but not increase, Participants’ rights under this Plan, shall substitute or adjust, as applicable,
(1) the number and kind of Shares that may be issued under this Plan or under particular forms of Awards, (2) the number and
kind of Shares subject to outstanding Awards (including by payment of cash to a Participant), (3) the Option Price or Grant Price
applicable to outstanding Awards and (4) the Annual Award Limits and other value determinations applicable to outstanding Awards.
The Committee, in its discretion, shall determine the methodology or manner of making such substitution or adjustment subject to applicable
laws, rules and regulations.


(b)       In
addition to the adjustments permitted under paragraph 4.4(a) above, the Committee, in its sole discretion, may make such other
adjustments or modifications in the terms of any Award that it deems appropriate to reflect any Corporate Transaction, including, but
not limited to, modifications of performance goals and changes in the length of Performance Periods, subject to the limitations set forth
in Section 14.2.


 






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(c)       The
determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan.
Unless otherwise determined by the Committee, such adjusted Awards shall be subject to the same restrictions and vesting or settlement
schedule to which the underlying Award is subject.


Article
5. ELIGIBILITY AND PARTICIPATION


5.1       Eligibility
to Receive Awards. Individuals eligible to participate in this Plan include all Employees, Directors and Third-Party Service Providers.


5.2       Participation
in this Plan. Subject to the provisions of this Plan, the Committee may, from time to time, select from all individuals eligible to
participate in this Plan those individuals to whom Awards shall be granted and shall determine, in its sole discretion, the nature of
any and all terms permissible by law and the amount of each Award.


Article
6. STOCK OPTIONS


6.1       Grant
of Options. Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall
be determined by the Committee, in its sole discretion. Each grant of an Option shall be evidenced by an Award Agreement, which shall
specify whether the Option is in the form of a Nonqualified Stock Option or an Incentive Stock Option.


6.2       Option
Price. The Option Price for each grant of an Option shall be determined by the Committee in its sole discretion and shall be specified
in the Award Agreement evidencing such Option; provided, however, the Option Price must be at least equal to 100% of the
FMV of a Share as of the Option’s Grant Date, subject to adjustment as provided for under Section 4.4.


6.3       Term
of Option. The term of an Option granted to a Participant shall be determined by the Committee, in its sole discretion; provided,
however, no Option shall be exercisable later than the tenth anniversary date of its grant. If upon the expiration of the term
of an Option (other than an Incentive Stock Option), a Participant is prohibited from trading in the Shares by applicable laws, rules
or regulations or the Company’s insider trading plan as in effect from time to time, the term of the Option shall be automatically
extended to the 30th day following the expiration of such prohibition; provided, however, that this provision shall
not apply if prohibited by applicable laws, rules and regulations in effect from time to time.


6.4       Exercise
of Option. An Option shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall
in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant.


6.5       Payment
of Option Price. An Option shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the
Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the
Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the
Shares. A condition of the issuance of the Shares as to which an Option shall be exercised shall be the payment of the Option Price. The
Option Price of any exercised Option shall be payable to the Company in accordance with one of the following methods:


(a)       in
cash or its equivalent;


(b)       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 Option Price;


(c)       by
a cashless (broker-assisted) exercise in accordance with procedures authorized by the Committee from time to time;


 






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(d)       through
net share settlement or similar procedure involving the withholding of Shares subject to the Option with a value equal to the Option Price;


(e)       by
any combination of (a), (b), (c) and (d); or


(f)       any
other method approved or accepted by the Committee in its sole discretion.


Unless otherwise determined by the Committee,
all payments under all of the methods indicated above shall be paid in United States dollars or Shares, as applicable.


6.6       Special
Rules Regarding ISOs. The terms of any Incentive Stock Option (“ISO”) granted under this Plan shall comply
in all respects with the provisions of Code Section 422, or any successor provision thereto, as amended from time to time. Notwithstanding
any provision of the Plan to the contrary, an Option granted in the form of an ISO to a Participant shall be subject to the following
rules:


(a)       Special
ISO definitions:


(i)       “Parent
Corporation” shall mean as of any applicable date a corporation in respect of the Company that is a parent corporation within
the meaning of Code Section 424(e).


(ii)       “ISO
Subsidiary” shall mean as of any applicable date any corporation in respect of the Company that is a subsidiary corporation
within the meaning of Code Section 424(f).


(iii)       A
“10% Owner” is an individual who owns stock possessing more than ten percent (10%) of the total combined
voting power of all classes of stock of the Company or its Parent Corporation or any ISO Subsidiary.


(b)       Eligible
Employees. An ISO may be granted solely to eligible Employees of the Company, Parent Corporation or ISO Subsidiary.


(c)       Specified
as an ISO. An Award Agreement evidencing the grant of an ISO shall specify that such grant is intended to be an ISO.


(d)       Option
Price. The Option Price for each grant of an ISO shall be determined by the Committee in its sole discretion and shall be specified
in the Award Agreement; provided, however, the Option Price must be at least equal to 100% of the Fair Market Value of a
Share as of the ISO’s Grant Date (in the case of 10% Owners, the Option Price may not be less than 110% of such Fair Market Value),
subject to adjustment provided for under Section 4.4.


(e)       Right
to Exercise. Any ISO granted to a Participant shall be exercisable during his or her lifetime solely by such Participant.


(f)       Exercise
Period. The period during which a Participant may exercise an ISO shall not exceed ten years (five years in the case of
a Participant who is a 10% Owner) from the date on which the ISO was granted.


(g)       Termination
of Employment. In the event a Participant terminates employment due to death or Disability (as defined in Code Section 22(e)(3)),
the Participant (or, in the case of death, the person(s) to whom the Option is transferred by will or the laws of descent and distribution)
shall have the right to exercise the Participant’s ISO award during the period specified in the applicable Award Agreement solely
to the extent the Participant had the right to exercise the ISO on the date of his death or Disability, as applicable; provided,
however, that such period may not exceed one year from the date of such termination of employment or, if shorter, the remaining
term of the ISO. In the event a Participant terminates employment for reasons other than death or Disability, the Participant shall have
the right to exercise the Participant’s ISO during the period specified in the applicable Award Agreement solely to the extent the
Participant had the right to exercise the ISO on the date of such termination of employment; provided, however, that such
period may not exceed three months from the date of such termination of employment or, if shorter, the remaining term of the ISO.


 






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(h)       Dollar
Limitation. To the extent that the aggregate Fair Market Value of (i) the Shares with respect to which Options designated as
Incentive Stock Options plus (ii) the shares of stock of the Company, Parent Corporation and any ISO Subsidiary with respect
to which other Incentive Stock Options are exercisable for the first time by a holder of such Incentive Stock Options during any calendar year
under all plans of the Company and ISO Subsidiary exceeds $100,000, such Options shall be treated as Nonqualified Stock Options. For purposes
of the preceding sentence, Options shall be taken into account in the order in which they were granted, and the Fair Market Value of the
Shares shall be determined as of the time the Option or other incentive stock option is granted.


(i)       Duration
of Plan. No ISO may be granted more than ten years after the earlier of (a) adoption of this Plan by the Board and (b) the
Effective Date.


(j)       Notification
of Disqualifying Disposition. If any Participant shall make any disposition of Shares issued pursuant to the exercise of an ISO, such
Participant shall notify the Company of such disposition within 30 days thereof. The Company shall use such information to determine
whether a disqualifying disposition as described in Code Section 421(b) has occurred.


(k)       Transferability.
No ISO may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated other than by will or by the laws of descent
and distribution; provided, however, that, at the discretion of the Committee, an ISO may be transferred to a grantor trust
under which Participant making the transfer is the sole beneficiary.


Article
7. STOCK APPRECIATION RIGHTS


7.1       Grant
of SARs. SARs may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be
determined by the Committee, in its sole discretion. Each grant of SARs shall be evidenced by an Award Agreement.


7.2       Grant
Price. The Grant Price for each grant of an SAR shall be determined by the Committee and shall be specified in the Award Agreement
evidencing the SAR; provided, however, the Grant Price must be at least equal to 100% of the FMV of a Share as of the Grant
Date, subject to adjustment as provided for under Section 4.4.


7.3       Term
of SAR. The term of an SAR granted to a Participant shall be determined by the Committee, in its sole discretion; provided,
however, no SAR shall be exercisable later than the tenth anniversary date of its grant.


7.4       Exercise
of SAR. A SAR shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each
instance approve, which terms and restrictions need not be the same for each grant or for each Participant.


7.5       Notice
of Exercise. A SAR shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company
in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee,
setting forth the number of Shares with respect to which the SAR is to be exercised.


7.6       Settlement
of SARs. Upon the exercise of a SAR, pursuant to a notice of exercise properly completed and submitted to the Company in accordance
with Section 7.5, a Participant shall be entitled to receive payment from the Company in an amount equal to the product of (a) and
(b) below:


 






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(a)       The
excess of the Fair Market Value of a Share on the date of exercise over the Grant Price.


(b)       The
number of Shares with respect to which the SAR is exercised.


Payment shall be made in cash, Shares or a combination thereof as
specified in the Award Agreement.


Article
8. RESTRICTED STOCK


8.1       Grant
of Restricted Stock. Restricted Stock may be granted to Participants in such number, and upon such terms, and at any time and from
time to time as shall be determined by the Committee, in its sole discretion. Each grant of Restricted Stock shall be evidenced by an
Award Agreement.


8.2       Nature
of Restrictions. Each grant of Restricted Stock shall subject to a Restriction Period that shall lapse upon the satisfaction of such
conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement.
Such conditions or restrictions may include, without limitation, one or more of the following:


(a)       A
requirement that a Participant pay a stipulated purchase price for each Share of Restricted Stock;


(b)       Restrictions
based upon the achievement of specific performance goals;


(c)       Time-based
restrictions on vesting following the attainment of the performance goals;


(d)       Time-based
restrictions; and/or


(e)       Restrictions
under applicable laws and restrictions under the requirements of any stock exchange or market on which such Shares are listed or traded.


8.3       Issuance
of Shares. To the extent deemed appropriate by the Committee, the Company may retain the certificates representing Shares of Restricted
Stock in the Company’s possession until such time as all conditions or restrictions applicable to such Shares have been satisfied
or lapse. Shares of Restricted Stock covered by each Restricted Stock grant shall become freely transferable by the Participant after
all conditions and restrictions applicable to such Shares have been satisfied or lapsed (including satisfaction of any applicable tax
withholding obligations).


8.4       Shareholder
Rights. Unless otherwise determined by the Committee and set forth in a Participant’s applicable Award Agreement, to the extent
permitted or required by law, a Participant holding Shares of Restricted Stock granted hereunder shall be granted full rights as a shareholder
(including voting rights) with respect to those Shares during the Period of Restriction.


Article
9. RESTRICTED STOCK UNITS


9.1       Grant
of Restricted Stock Units. Restricted Stock Units may be granted to Participants in such number, and upon such terms, and at any time
and from time to time as shall be determined by the Committee, in its sole discretion. A grant of a Restricted Stock Unit or Restricted
Stock Units shall not represent the grant of Shares but shall represent a promise to deliver a corresponding number of Shares or the value
of each Share based upon the completion of service, performance conditions or such other terms and conditions as specified in the applicable
Award Agreement over the Restriction Period. Each grant of Restricted Stock Units shall be evidenced by an Award Agreement.


 






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9.2       Nature
of Restrictions. Each grant of Restricted Stock Units shall be subject to a Restriction Period that shall lapse upon the satisfaction
of such conditions and restrictions as are determined by the Committee in its sole discretion and set forth in an applicable Award Agreement.
Such conditions or restrictions may include, without limitation, one or more of the following:


(a)       A
requirement that a Participant pay a stipulated purchase price for each Restricted Stock Unit;


(b)       Restrictions
based upon the achievement of specific performance goals;


(c)       Time-based
restrictions on vesting following the attainment of the performance goals;


(d)       Time-based
restrictions; and/or


(e)       Restrictions
under applicable laws or under the requirements of any stock exchange on which Shares are listed or traded.


9.3       Settlement
and Payment of Restricted Stock Units. Unless otherwise elected by the Participant or otherwise provided for in the Award Agreement,
Restricted Stock Units shall be settled upon the date such Restricted Stock Units vest. Such settlement may be made in Shares, cash or
a combination thereof, as specified in the Award Agreement.


Article
10. PERFORMANCE SHARES


10.1       Grant
of Performance Shares. Performance Shares may be granted to Participants in such number, and upon such terms and at any time and from
time to time, as shall be determined by the Committee, in its sole discretion. Each grant of Performance Shares shall be evidenced by
an Award Agreement.


10.2       Value
of Performance Shares. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the Grant Date.
The Committee shall set performance goals in its discretion that, depending on the extent to which they are met over the specified Performance
Period, shall determine the number of Performance Shares that shall be paid to a Participant.


10.3       Earning
of Performance Shares. After the applicable Performance Period has ended, the number of Performance Shares earned by the Participant
over the Performance Period shall be determined as a function of the extent to which the applicable corresponding performance goals have
been achieved. This determination shall be made solely by the Committee.


10.4       Form and
Timing of Payment of Performance Shares. The Committee shall pay at the close of the applicable Performance Period, or as soon as
practicable thereafter, any earned Performance Shares in the form of cash or in Shares or in a combination thereof, as specified in a
Participant’s applicable Award Agreement. Any Shares paid to a Participant under this Section 10.4 may be subject to any
restrictions deemed appropriate by the Committee.


Article
11. PERFORMANCE UNITS


11.1       Grant
of Performance Units. Subject to the terms and provisions of this Plan, Performance Units may be granted to a Participant in such
number, and upon such terms and at any time and from time to time, as shall be determined by the Committee, in its sole discretion. Each
grant of Performance Units shall be evidenced by an Award Agreement.


11.2       Value
of Performance Units. Each Performance Unit shall have an initial notional value equal to a dollar amount determined by the Committee,
in its sole discretion. The Committee shall set performance goals in its discretion that, depending on the extent to which they are met
over the specified Performance Period, will determine the number of Performance Units that shall be settled and paid to the Participant.


 






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11.3       Earning
of Performance Units. After the applicable Performance Period has ended, the number of Performance Units earned by the Participant
over the Performance Period shall be determined as a function of the extent to which the applicable corresponding performance goals have
been achieved. This determination shall be made solely by the Committee.


11.4       Form and
Timing of Payment of Performance Units. The Committee shall pay at the close of the applicable Performance Period, or as soon as practicable
thereafter, any earned Performance Units in the form of cash or in Shares or in a combination thereof, as specified in a Participant’s
applicable Award Agreement. Any Shares paid to a Participant under this Section 11.4 may be subject to any restrictions deemed
appropriate by the Committee.


Article
12. OTHER STOCK-BASED AWARDS AND CASH-BASED AWARDS


12.1       Grant
of Other Stock-Based Awards and Cash-Based Awards


(a)       The
Committee may grant Other Stock-Based Awards not otherwise described by the terms of this Plan, including, but not limited to, the grant
or offer for sale of unrestricted Shares and the grant of deferred Shares or deferred Share units, in such amounts and subject to such
terms and conditions, as the Committee shall determine, in its sole discretion. Such Awards may involve the transfer of actual Shares
to Participants, or payment in cash or otherwise of amounts based on the value of Shares.


(b)       The
Committee, at any time and from time to time, may grant Cash-Based Awards to a Participant in such amounts and upon such terms as the
Committee shall determine, in its sole discretion.


12.2       Value
of Other Stock-Based Awards and Cash-Based Awards.


(a)       Each
Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by the Committee, in its sole discretion.


(b)       Each
Cash-Based Award shall specify a payment amount or payment range as determined by the Committee, in its sole discretion. If the Committee
exercises its discretion to establish performance goals, the value of Cash-Based Awards paid to the Participant will depend on the extent
to which such performance goals are met.


12.3       Payment
of Other Stock-Based Awards and Cash-Based Awards. Payment, if any, with respect to Cash-Based Awards and Other Stock-Based Award
shall be made in accordance with the terms of the applicable Award Agreement, in cash, Shares or a combination of both as determined by
the Committee in its sole discretion.


Article
13. TRANSFERABILITY OF AWARDS AND SHARES


13.1       Transferability
of Awards. Except as provided in Section 13.2, during a Participant’s lifetime, Options and SARs shall be exercisable only
by the Participant. Awards shall not be transferable other than by will or the laws of descent and distribution or pursuant to a domestic
relations order entered into by a court of competent jurisdiction. No Awards shall be subject, in whole or in part, to attachment, execution
or levy of any kind. Any purported transfer in violation of this Section 13.1 shall be null and void.






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13.2       Committee
Action. Notwithstanding Section 13.1, the Committee may, subject to applicable laws, rules and regulations and such terms
and conditions as it shall specify, determine that any or all Awards shall be transferable, for no consideration to a Permitted Transferee.
Any Award transferred to a Permitted Transferee shall be further transferable only by last will and testament or the laws of descent and
distribution or, for no consideration, to another Permitted Transferee of the Participant. “Permitted Transferees”
include (i) a Participant’s family member, (ii) one or more trusts established in whole or in part for the benefit
of one or more of such family members, (iii) one or more entities which are beneficially owned in whole or in part by
one or more such family members or (iv) a charitable or not-for-profit organization. No Award may be transferred for value without
shareholder approval.


13.3       Restrictions
on Share Transferability. The Committee may impose such restrictions on any Shares acquired by a Participant under this Plan as it
may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal securities
laws, under the requirements of any stock exchange or market upon which such Shares are then listed or traded, or under any blue sky or
state securities laws applicable to such Shares.


Article
14. PERFORMANCE MEASURES


14.1       Performance
Measures. Any Award to a Participant may be subject to performance goals as determined at the discretion of the Committee, which may
include, but are not limited to, any of the following:


(a)       Book
value or earnings per Share;


(b)       Cash
flow, free cash flow or operating cash flow;


(c)       Earnings
before or after any of, or any combination of, interest, taxes, depreciation or amortization;


(d)       Expenses/costs;


(e)       Gross,
net or pre-tax income (aggregate or on a per-share basis);


(f)       Net
income as a percentage of sales;


(g)       Gross
or net operating margins or income, including operating income;


(h)       Gross
or net sales or revenues;


(i)       Gross
profit or gross margin;


(j)       Improvements
in capital structure, cost of capital or debt reduction;


(k)       Market
share or market share penetration;


(l)       Growth
in managed assets;


(m)       Reduction
of losses, loss ratios and expense ratios;


(n)       Asset
turns, inventory turns or fixed asset turns;


(o)       Operational
performance measures;


(p)       Profitability
ratios (pre- or post-tax);


 






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(q)       Profitability
of an identifiable business unit or product;


(r)       Return
measures (including return on assets, return on equity, return on investment, return on capital, return on invested capital, gross profit
return on investment, gross margin return on investment, economic value added or similar metric);


(s)       Share
price (including growth or appreciation in share price and total shareholder return);


(t)       Strategic
business objectives (including objective project milestones);


(u)       Transactions
relating to acquisitions or divestitures; or


(v)       Working
capital.


Any Performance Measure(s) may, as the Committee in its sole discretion
deems appropriate, (i) relate to the performance of the Company or any Subsidiary as a whole or any business unit or division of
the Company or any Subsidiary or any combination thereof, (ii) be compared to the performance of a group of comparator companies,
or published or special index, (iii) be based on change in the Performance Measure over a specified period of time, and such change
may be measured based on an arithmetic change over the specified period (e.g., cumulative change or average change) or percentage
change over the specified period (e.g., cumulative percentage change, average percentage change or compounded percentage
change), (iv) relate to or be compared to one or more other Performance Measures or (v) any combination of the foregoing.
Subject to Section 23.1, the Committee also has the authority to provide for accelerated vesting of any Award based on the achievement
of performance goals pursuant to any Performance Measures.


14.2       Evaluation
of Performance. The Performance Measures shall, to the extent possible, be determined in accordance with generally accepted accounting
principles consistently applied on a business unit, divisional, subsidiary or consolidated basis or any combination thereof. The Committee
may provide in any Award that any evaluation of performance may include or exclude the impact, if any, on reported financial results of
any events that occur during a Performance Period, including, but not limited to: (a) asset write-downs, (b) litigation or claim
judgments or settlements, (c) changes in tax laws, accounting principles or other laws or provisions, (d) reorganization or
restructuring programs, (e) acquisitions or divestitures, (f) foreign exchange gains and losses and (g) gains and losses
that are treated as unusual or infrequently occurring items within the meaning of the accounting standards of the Financial Accounting
Standards Board or such comparable successor term.


14.3       Adjustment
of Awards. The Committee shall retain the discretion to adjust any Awards, either on a formula or discretionary basis or any combination,
as the Committee determines, in its sole discretion.


Article
15. TERMINATION OF EMPLOYMENT; TERMINATION OF DIRECTORSHIP AND TERMINATION AS A THIRD-PARTY SERVICE PROVIDER


The Committee shall specify at or after the time
of grant of an Award the provisions governing the disposition of an Award in the event of a Participant’s Termination of Employment
or Termination of Directorship. Subject to applicable laws, rules and regulations, in connection with a Participant’s termination,
as well as Section 23.1, the Committee shall have the discretion to accelerate the vesting, exercisability or settlement of, eliminate
the restrictions and conditions applicable to, or extend the post-termination exercise period of an outstanding Award. Such provisions
shall be determined by the Committee in its sole discretion and may be specified in the applicable Award Agreement or determined at a
subsequent time. The Committee’s decisions need not be uniform among all Award Agreements and Participants and may reflect distinctions
based on the reasons for termination. In addition, the Committee shall determine, in its sole discretion, the circumstances constituting
a termination as a Third-Party Service Provider and shall set forth those circumstances in each Award Agreement entered into with each
Third Party Service Provider.


 






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Article
16. NON-EMPLOYEE DIRECTOR AWARDS


16.1       Awards
to Non-Employee Directors. The Board or Committee shall determine and approve all Awards to Non-Employee Directors. The terms and
conditions of any grant of any Award to a Non-Employee Director shall be set forth in an Award Agreement. The aggregate maximum Fair Market
Value (determined as of the Grant Date) of the Shares with respect to Awards granted under this Plan in any calendar year to any Non-Employee
Director when added to retainer fees, meeting fees and any other compensation earned in respect of services as a Non-Employee Director
for such a year shall not exceed $1,000,000.


16.2       Awards
in Lieu of Fees. The Board or Committee may permit a Non-Employee Director the opportunity to receive an Award in lieu of payment
of all or a portion of future director fees (including but not limited to cash retainer fees and meeting fees) or other type of Awards
pursuant to such terms and conditions as the Board or Committee may prescribe and set forth in an applicable sub-plan or Award Agreement.


Article
17. EFFECT OF A CHANGE IN CONTROL


17.1       Change
in Control. Subject to Section 23.1, if a Participant has in effect an employment, retention, Change in Control, severance or similar
agreement with the Company or any Subsidiary or is subject to a policy or plan that discusses the effect of a Change in Control on a Participant’s
Awards, then such agreement, plan or policy shall control. In all other cases, unless provided otherwise in an Award agreement or by the
Committee prior to the date of the Change in Control, in the event of a Change in Control:


(a)       If
a Successor so agrees, some or all outstanding Awards shall be assumed, or replaced with the same type of award with similar terms and
conditions, by a Successor in the Change in Control transaction. If applicable, each Award that is assumed by a Successor shall be appropriately
adjusted, immediately after such Change in Control, to apply to the number and class of securities that would have been issuable to a
Participant upon the consummation of such Change in Control had the Award been exercised, vested or earned immediately prior to such Change
in Control, and other appropriate adjustments in the terms and conditions of the Award shall be made. Subject to Section 23.1, upon the
termination of a Participant’s employment with a Successor in connection with or within twenty-four (24) months following the Change
in Control for any reason other than an involuntary termination by a Successor for cause or a voluntary termination by the Participant
without good reason (as cause and good reason (or analogous terms) are defined by an applicable employment agreement or a change in control
plan or policy (including, without limitation, the AAM Executive Officer Change in Control Plan) or, if not applicable, the policies generally
applicable to employees of a Successor), all of the Participant’s Awards that are in effect as of the date of such termination shall
be vested in full or deemed earned in full (assuming the target performance goals provided under such Award were met, if applicable),
effective on the date of such termination.


(b)       Subject
to Section 23.1, to the extent a Successor in the Change in Control transaction does not assume the Awards or issue replacement awards
as provided in clause (a), then, unless provided otherwise in an Award agreement or by the Committee, immediately prior to the date of
the Change in Control, all Awards that are then held by Participants shall be cancelled in exchange for the right to receive the following:


(i)       For
each Option or SAR, a cash payment equal to the excess of the Change in Control price of the Shares covered by the Option or SAR that
is so cancelled over the purchase or grant price of such Shares under the Award;


 






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(ii)       For
each Share of Restricted Stock and each Restricted Stock Unit, the Change in Control price per Share in cash or such other consideration
as the Company or the shareholders of the Company receive in such Change in Control;


(iii)       For
all Performance Shares and/or Performance Units that are earned but not yet paid, a cash payment equal to the value of the Performance
Share and/or Performance Unit;


(iv)       For
all Performance Shares and Performance Units for which the performance period has not expired, a cash payment equal to the product of
(x) and (y) where (x) is the Award the Participant would have earned based on target performance and (y) is a fraction, the numerator
of which is the number of calendar months that the Participant was employed by the Company during the performance period (with any partial
month counting as a full month for this purpose) and the denominator of which is the number of months in the performance period;


(v)       For
all other Awards that are earned but not yet paid, a cash payment equal to the value of the other Awards;


(vi)       For
all other Awards that are not yet earned, a cash payment equal to either the amount that would have been due under such Award(s) if any
performance goals (as measured at the time of the Change in Control) were to be achieved at the target level through the end of the performance
period or a cash payment based on the value of the Award as of the date of the Change in Control; and


(vii)       For
all Dividend Equivalents, a cash payment equal to the value of the Dividend Equivalents as of the date of the Change in Control.


If the value of an Award is based on the Fair Market Value of a Share,
Fair Market Value shall be deemed to mean the per share Change in Control price. The Committee shall determine the per share Change in
Control price paid or deemed paid in the Change in Control transaction.


Article
18. DIVIDENDS AND DIVIDEND EQUIVALENTS


The Committee may provide Participants with the
right to receive dividends or payments equivalent to dividends (“Dividend Equivalents”) or interest with respect to
an outstanding Award, which payments can either be paid in cash or deemed to have been reinvested in Shares, or a combination thereof,
as the Committee shall determine, in each case, subject to all applicable laws, rules and regulations, including, without limitation,
Code Section 409A. Dividends or Dividend Equivalents with respect to Awards that vest based on the achievement of Performance Measures
shall be accumulated until such Award is earned and vested, and the dividends or Dividend Equivalents shall not be paid if the Performance
Measures and time-based vesting restrictions are not satisfied. Dividends or Dividend Equivalents with respect to Awards that are subject
to time-based vesting restrictions shall be accumulated until such Awards vest in accordance with their terms, and the dividends or Dividend
Equivalents shall not be paid if the time-based vesting restrictions are not satisfied. Notwithstanding the foregoing, no dividends or
Dividend Equivalents shall be paid with respect to Options or Stock Appreciation Rights.


Article
19. BENEFICIARY DESIGNATION


Each Participant under this Plan may, from time
to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Plan is
to be paid in case of his death before he receives any or all of such benefit. Each such designation shall revoke all prior designations
by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing
with the Company during the Participant’s lifetime. In the absence of any such beneficiary designation, benefits remaining unpaid
or rights remaining unexercised at the Participant’s death shall be paid to or exercised by the Participant’s executor, administrator
or legal representative.


 






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Article
20. RIGHTS OF PARTICIPANTS


20.1       Employment.
Nothing in this Plan or an Award Agreement shall (a) interfere with or limit in any way the right of the Company or any Subsidiary
to terminate any Participant’s employment with the Company or any Subsidiary at any time or for any reason not prohibited by law
or (b) confer upon any Participant any right to continue his employment or service as a Director or Third-Party Service Provider
for any specified period of time. Neither an Award nor any benefits arising under this Plan shall constitute an employment contract with
the Company or any Subsidiary and, accordingly, subject to Articles 3 and 21, this Plan and the benefits hereunder may be amended
or terminated at any time in the sole and exclusive discretion of the Board without giving rise to any liability on the part of the
Company, any Subsidiary, the Committee or the Board.


20.2       Participation.
No individual shall have the right to be selected to receive an Award under this Plan, or, having been so selected, to be selected to
receive a future Award. The Committee may grant more than one Award to a Participant and may designate an individual as a Participant
for overlapping periods of time.


20.3       Rights
as a Shareholder. Except as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect
to Shares covered by any Award until the Participant becomes the record holder of such Shares. No adjustment shall be made for dividends
or other rights for which the record date is prior to the date on which the Participant becomes the record holder of the Shares.


Article
21. AMENDMENT AND TERMINATION


21.1       Amendment
and Termination of this Plan and Awards. Subject to applicable laws, rules and regulations and Section 21.3 of this
Plan, the Board may at any time amend or terminate this Plan or amend or terminate any outstanding Award. Notwithstanding the foregoing,
no amendment of this Plan shall be made without shareholder approval if shareholder approval is required pursuant to rules promulgated
by any stock exchange or quotation system on which Shares are listed or quoted or by applicable U.S. state corporate laws or regulations,
applicable U.S. federal laws or regulations, and the applicable laws of any foreign country or jurisdiction where Awards are, or
will be, granted under this Plan.


21.2       Adjustment
of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. Subject to Section 14.4, the Committee may make adjustments
in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without
limitation, the events described in Section 4.4) affecting the Company or the financial statements of the Company or of changes
in applicable laws, regulations or accounting principles, whenever the Committee determines that such adjustments are appropriate in order
to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The
determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan.
By accepting an Award under this Plan, a Participant agrees to any adjustment to the Award made pursuant to this Section 21.2 without
further consideration or action.


21.3       Awards
Previously Granted. Notwithstanding any other provision of this Plan to the contrary, other than Sections 21.2, 21.4 and
23.15, no termination or amendment of this Plan or an Award Agreement shall adversely affect in any material way any Award previously
granted under this Plan without the written consent of the Participant holding such Award.


21.4       Amendment
to Conform to Law. Notwithstanding any other provision of this Plan to the contrary, the Committee shall have the broad authority
to amend this Plan, an Award or an Award Agreement to take effect retroactively or otherwise, as deemed necessary or advisable in order
to comply with, take into account changes in, or interpretations of, applicable tax laws, securities laws, employment laws, accounting
rules and other applicable laws, rules, rulings and regulations promulgated thereunder. By accepting an Award under this Plan, a
Participant agrees to any amendment made pursuant to this Section 21.4 to this Plan and any Award without further consideration
or action.


 






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21.5       Repricing
of Options and Stock Appreciation Rights. Except in connection with a corporate transaction involving the Company (including, without
limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up,
spin-off, combination or exchange of Shares), the terms of outstanding Awards may not be amended, without stockholder approval, to reduce
the exercise price of outstanding Options or Stock Appreciation Rights, or to cancel outstanding Options or Stock Appreciation Rights
in exchange for cash, other Awards or Options or Stock Appreciation Rights with an exercise price that is less than the exercise price
of the original Options or Stock Appreciation Rights.


Article
22. TAX WITHHOLDING


22.1       Tax
Withholding. The Company may require any individual entitled to receive a payment of an Award to remit to the Company prior to payment
an amount sufficient to satisfy any applicable federal, state, local and foreign tax withholding requirements. The Company shall also
have the right to deduct from all cash payments made to a Participant (whether or not such payment is made in connection with an Award) any
applicable taxes required to be withheld with respect to such Award.


22.2       Share
Withholding. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted
Stock, upon the settlement of Restricted Stock Units, or upon the achievement of performance goals related to Performance Shares, or any
other taxable event arising as a result of an Award granted hereunder (collectively and individually referred to as a “Share
Payment”), the Committee may permit or require a Participant to satisfy the withholding requirement, in whole or in part, by
having the Company withhold Shares from a Share Payment (or repurchase Shares that were previously issued) having a Fair Market Value
on the date the withholding is to be determined equal to the minimum statutory withholding requirement or such other rate as will not
result in any adverse accounting consequences, as determined by the Company in its sole discretion.


Article
23. GENERAL PROVISIONS


23.1       Minimum
Vesting. All Awards shall be subject to a minimum time-based vesting restriction or Performance Period, as applicable, of not less
than one year; provided, however, the requirements set forth in this sentence shall not apply (i) to acceleration in the
event of a Termination of Employment or Termination of Directorship on or following a Change in Control, or due to Retirement, death or
Disability, (ii) to substitute Awards subject to time-based vesting restrictions no less than the restrictions of the Awards being replaced
and (iii) Awards involving an aggregate number of Shares not in excess of 5% of the total shares authorized for issuance under this Plan.


23.2       Forfeiture
Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits with respect to
an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events as determined
by the Committee in its sole discretion.


23.3       Legend.
All certificates for Shares delivered under this Plan shall be subject to such stock-transfer orders and other restrictions as the Committee
may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any exchange upon which
the Shares are then listed, and any applicable securities law, and the Committee may cause a legend or legends to be put on any such certificates
to make appropriate reference to such restrictions.


 






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23.4       Gender
and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural
shall include the singular, and the singular shall include the plural.


23.5       Severability.
In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect
the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been
included.


23.6       Requirements
of Law. The granting of Awards and the issuance of Shares under this Plan shall be subject to all applicable laws, rules and regulations,
and to such approvals by any governmental agencies or national securities exchanges as may be required.


23.7       Delivery
of Title. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this Plan prior to:


(a)       Obtaining
any approvals from governmental agencies that the Company determines are necessary or advisable; and


(b)       Completion
of any registration or other qualification of the Shares under any applicable national, state or foreign law or ruling of any governmental
body that the Company determines to be necessary or advisable.


23.8       Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.


23.9       Investment
Representations. The Committee may require any individual receiving Shares pursuant to an Award under this Plan to represent and warrant
in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares.


23.10       Employees
Based Outside of the United States. Notwithstanding any provision of this Plan to the contrary, subject to Section 23.1, in order
to comply with the laws in other countries in which the Company or any Subsidiaries operate or have Employees, Directors or Third-Party
Service Providers, the Committee, in its sole discretion, shall have the power and authority to:


(a)       Determine
which Subsidiaries shall be covered by this Plan;


(b)       Determine
which Employees, Directors or Third-Party Service Providers outside the United States are eligible to participate in this Plan;


(c)       Modify
the terms and conditions of any Award granted to Employees, Directors or Third-Party Service Providers outside the United States to comply
with applicable foreign laws;


(d)       Establish
sub-plans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any
sub-plans and modifications to Plan terms and procedures established under this Section 23.10 by the Committee shall be attached
to this Plan document as appendices; and


(e)       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.


Notwithstanding the above, the Committee may
not take any actions hereunder, and no Awards shall be granted, that would violate applicable law.


 






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23.11       Uncertificated
Shares. To the extent that this Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such
Shares may be affected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange.


23.12       Unfunded
Plan. Participants shall have no right, title or interest whatsoever in or to any investments that the Company or any Subsidiaries
may make to aid it in meeting its obligations under this Plan. Nothing contained in this 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 individual. To the extent that any individual acquires a right to receive payments from the Company
or any Subsidiary under this Plan, such right shall be no greater than the right of an unsecured general creditor of the Company or the
Subsidiary, as the case may be. All payments to be made hereunder shall be paid from the general funds of the Company or the Subsidiary,
as the case may be, and no special or separate fund shall be established, and no segregation of assets shall be made to assure payment
of such amounts except as expressly set forth in this Plan.


23.13       No
Fractional Shares. No fractional Shares shall be issued or delivered pursuant to this Plan or any Award. The Committee shall determine
whether cash, Awards or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights
thereto shall be forfeited or otherwise eliminated.


23.14       Retirement
and Welfare Plans. Neither Awards made under this Plan nor Shares or cash paid pursuant to such Awards may be included as “compensation”
for purposes of computing the benefits payable to any Participant under the Company’s or any Subsidiary’s retirement plans
(both qualified and nonqualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall
be taken into account in computing a Participant’s benefit.


23.15       Deferrals.


(a)       Notwithstanding
any contrary provision in this Plan or an Award Agreement, if any provision of this Plan or an Award Agreement contravenes any regulations or
guidance promulgated under Code Section 409A or would cause an Award to be subject to additional taxes, accelerated taxation, interest
and/or penalties under Code Section 409A, such provision of this Plan or Award Agreement may be modified by the Committee without
consent of the Participant in any manner the Committee deems reasonable or necessary. In making such modifications, the Committee shall
attempt, but shall not be obligated, to maintain, to the maximum extent practicable, the original intent of the applicable provision without
contravening the provisions of Code Section 409A. Moreover, any discretionary authority that the Committee may have pursuant to this
Plan shall not be applicable to an Award that is subject to Code Section 409A to the extent such discretionary authority would contravene
Code Section 409A or the guidance promulgated thereunder.


(b)       If
a Participant is a “specified employee” as defined under Code Section 409A and the Participant’s Award is to be
settled on account of the Participant’s separation from service (for reasons other than death) and such Award constitutes “deferred
compensation” as defined under Code Section 409A, then any portion of the Participant’s Award that would otherwise be
settled during the six-month period commencing on the Participant’s separation from service shall be settled as soon as practicable
following the conclusion of the six-month period (or following the Participant’s death if it occurs during such six-month period).


(c)       In
accordance with the procedures authorized by, and subject to the approval of, the Committee, Participants may be given the opportunity
to defer the payment or settlement of an Award to one or more dates selected by the Participant; provided, however,
that the terms of any deferrals must comply with all applicable laws, rules and regulations, including, without limitation, Code Section 409A.
No deferral opportunity shall exist with respect to an Award unless explicitly permitted by the Committee on or after the time of grant.


 






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23.16       Nonexclusivity
of this Plan. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Committee
to adopt such other compensation arrangements as it may deem desirable for any Participant.


23.17       No
Constraint on Corporate Action. Nothing in this Plan shall be construed to: (i) limit, impair or otherwise affect the Company’s
or a Subsidiary’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 (ii) limit
the right or power of the Company or a Subsidiary to take any action that such entity deems to be necessary or appropriate. The proceeds
received by the Company from the sale of Shares pursuant to Awards will be used for general corporate purposes.


23.18       Conflicts.
In the event of any conflict or inconsistency between the Plan and any Award Agreement, this Plan shall govern and the Award Agreement
shall be interpreted to minimize or eliminate any such inconsistency.


23.19       Recoupment.
Notwithstanding anything in this Plan to the contrary, all Awards granted under this Plan and any payments made under this Plan shall
be subject to claw-back or recoupment as permitted or mandated by applicable law, rules, regulations or Company policy as enacted,
adopted or modified from time to time. For the avoidance of doubt, this provision shall apply to any gains realized upon exercise or settlement
of an Award.


23.20       Delivery
and Execution of Electronic Documents. To the extent permitted by applicable law, the Company may (i) deliver by email or other
electronic means (including posting on a website maintained by the Company or by a third party under contract with the Company) all documents
relating to this Plan or any Award thereunder (including, without limitation, prospectuses and other securities requirements) and all
other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy
statements) and (ii) permit Participants to electronically execute applicable Plan documents (including, but not limited to, Award
Agreements) in a manner prescribed to the Committee.


23.21       No
Representations or Warranties Regarding Tax Effect. Notwithstanding any provision of this Plan to the contrary, the Company, Subsidiaries,
the Board and the Committee neither represent nor warrant the tax treatment under any federal, state, local or foreign laws and regulations
thereunder (individually and collectively referred to as the “Tax Laws”) of any Award granted or any amounts paid to
any Participant under this Plan including, but not limited to, when and to what extent such Awards or amounts may be subject to tax, penalties
and interest under the Tax Laws.


23.22       Indemnification.
Subject to applicable laws, rules and regulations and the Company’s Certificate of Incorporation as it may be amended from time
to time, each individual who is or shall have been a member of the Board, or a Committee appointed by the Board, or an officer of the
Company to whom authority was delegated in accordance with Article 3, shall be indemnified and held harmless by the Company against
and from (i) any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection with
or resulting from any claim, action, suit or proceeding to which he or she may be a party or in which he or she may be involved by reason
of any good faith action taken or failure to act under this Plan, (ii) any and all amounts paid by him or her in settlement thereof,
with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit or proceeding against
him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she
undertakes to handle and defend it on his/her own behalf. Notwithstanding the foregoing, no individual shall be entitled to indemnification
if such loss, cost, liability or expense is a result of his/her own willful misconduct. The foregoing right of indemnification shall not
be exclusive of any other rights of indemnification to which such individuals may be entitled under the Company’s Articles of Incorporation
or By-laws, as a matter of law or otherwise, or any power that the Company may have to indemnify them or hold them harmless.






    	 	22 	 



     


    

 


23.23       Successors.
Subject to Article 17, all obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any
successor to the Company (each, a “Successor”), 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 and/or assets of the Company.


23.24       Governing
Law. 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 this Plan to the substantive law of another jurisdiction.


 


 


 


 


 


 



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