exhibit
10.1


1ST
UNITED BANCORP, INC.


2013
INCENTIVE PLAN


ARTICLE
1



GENERAL PROVISIONS


1.1               
Purpose.


The 2013 Incentive Plan (the “Plan”)
of 1st United Bancorp, Inc. (the “Company”) is adopted for the following purposes: (1) to closely associate
the interests of certain Key Persons (as hereinafter defined) with the interests of the Company’s shareholders; (2) to encourage
the Key Persons to focus on the growth and development of the Company, as reflected in increased shareholder value; (3) to maintain
competitive compensation levels; and (4) to provide an incentive for the Key Persons to maintain association or employment with
the Company so that the Company may retain the services of the most highly qualified individuals in high level managerial capacities.


1.2               
Administration.


(a)                
The Plan shall be administered by the Compensation Committee of the Company (the “Committee”)
as that term is defined in and as constituted from time to time in accordance with the Bylaws of the Company.


(b)                
The Committee shall have the authority, in its sole discretion and from time to time to:


(i)                  
designate the individuals or classes of individuals eligible to participate in the Plan;


(ii)                
grant awards provided in the Plan in such form and amount as the Committee shall determine;


(iii)               
impose such limitations, restrictions and conditions upon any such award as the Committee
shall determine;


(iv)              
interpret the Plan, adopt, amend, and rescind rules and regulations relating to the Plan;
and


(v)                
make all other determinations and take all other actions necessary or advisable for the implementation
and administration of the Plan.


(c)                
The Committee may select one of its members as its chair, and shall hold meetings at such
time and places as it may determine. Acts by a majority of the Committee, or acts reduced to or approved in writing by a
majority of the members, shall be the valid acts of the Committee.


(d)                
The Committee’s interpretation of the Plan or any Awards granted pursuant thereto and
all decisions and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all parties
unless otherwise determined by the Committee.






    	 



    	 



    

1.3               
Eligibility for Participation.


Only Key Persons shall be eligible for
participation in the Plan. For purposes of the Plan, “Key Persons” shall be individuals selected by the Committee
for grants of Awards under this Plan.


1.4               
Types of Awards Under Plan.


Awards that are available under the Plan
shall be as follows:


(a)                
Nonqualified Stock Options (as described in Article 3);


(b)                
Incentive Stock Options (as described in Article 4);


(c)                
Restricted Stock Grants (as described in Article 5);


(d)                
Phantom Stock Unit Awards (as described in Article 6);


(e)                
Stock Appreciation Rights (as described in Article 7);


(f)                 
Performance Share Units (as described in Article 8); or,


(g)                
Any combination of the foregoing Awards.


1.5               
Aggregate Limitation on Awards.


(a)                
Shares of stock which may be issued under the Plan shall be authorized and unissued or treasury
shares of the Common Stock of the Company. The maximum number of shares of Common Stock which may be issued under this Plan shall
be equal to five percent (5%) of the issued and outstanding Common Stock in existence from time to time; provided, however, that
if there shall be a prospective reduction in the outstanding Common Stock, any previously issued Awards shall remain valid and
exercisable in Common Stock notwithstanding that Common Stock subsequently issued pursuant to the prior Awards may exceed such
limit; and provided, further, that no more than 1,703,513 shares of Common Stock in the aggregate may be granted under the Plan
in connection with Incentive Stock Options (subject to adjustments as provided in Section 9.13).


(b)                
To the extent the shares of Common Stock subject to an Award are not issued or delivered by
reason of (i) the expiration, termination, cancellation, or forfeiture of such Award, or (ii) the settlement of such Award in cash
rather than the issuance of shares of Common Stock, then such shares of Common Stock shall again be available under this Plan;
provided, however, that shares of Common Stock subject to an Award shall not again be available under this Plan if such shares
are (x) shares that were subject to a stock-settled SAR and were not issued or delivered upon the net settlement of such SAR, (y)
shares delivered to, or withheld by, the Company to pay the exercise price or the withholding taxes related to an outstanding Award,
and (z) shares repurchased by the Company on the open market with the proceeds of an Option exercise. The number of shares of Common
Stock available for Awards under this Plan shall not be reduced by (i) dividends, including dividends paid in shares of Common
Stock, or dividend equivalents paid in cash in connection with outstanding Awards, (ii) the number of shares of Common Stock subject
to Substitute Awards, or (iii) available shares under a shareholder approved plan of a company or other entity which was a party
to a corporate transaction with the Company (as appropriately adjusted to reflect such corporate transaction) which become subject
to Awards granted under this Plan (subject to applicable securities exchange requirements).


1.6               
Effective Date and Term of Plan.


(a)                
The Plan shall become effective on the date it is approved by the shareholders of the Company.






    	 



    	 



    

(b)                
Unless sooner terminated by the Board, the Plan shall terminate ten (10) years from the Effective
Date. After the Plan is terminated, no Awards may be granted; provided, however, that the Plan and all Awards made under the Plan
prior to such date shall remain in effect until such Awards have been satisfied or terminated in accordance with the Plan and the
terms of such Awards.


1.7               
Minimum Vesting Periods. 


All Options, Restricted Stock, or SARs granted
to Executive Officers that are subject to vesting or issuance solely based on such Holder continuing as an Employee may not vest
in full or be issued earlier (except if accelerated pursuant to (A) a Change in Control, (B) the death of the Holder,
(C) the Disability of the Holder, or (D) the Holder’s termination of employment not for “cause”) than
the three-year anniversary of the grant date, and all Restricted Stock granted to Executive Officers that are subject to vesting
or issuance based in whole or in part on performance conditions and/or the level of achievement versus such Performance Goals shall
be subject to an Award Period of not less than one year.


 


ARTICLE
2



Definitions


The following definitions shall be applicable
throughout the Plan.


2.1               
“Affiliate” shall mean any employer with which the Company would be considered
a single employer under Section 414(b) or 414(c) of the Code, applied using fifty percent (50%) as the percentage of ownership
required under such Code sections, provided, however, that the term “Affiliate” shall be construed in a manner in accordance
with the registration provisions of applicable Federal securities laws.


2.2               
“Appreciation Date” shall mean the date designated by a Holder of Stock
Appreciation Rights for measurement of the appreciation in the value of rights awarded to him or her, which date shall be the date
notice of such designation is received by the Committee, or its designee.


2.3               
“Award” shall mean, individually or collectively, any Incentive Stock Option,
Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock Award, Phantom Stock Unit Award or Performance Share Unit
Award granted to a Participant pursuant to the terms of the Plan.


2.4               
“Award Period” shall mean a period of time within which performance is
measured for the purpose of determining whether an award of Performance Share Units has been earned.


2.5               
“Board” or “Board of Directors” shall mean the Board
of Directors of the Company.


2.6               
“Change in Control” shall, unless the Committee otherwise directs by resolution
adopted prior thereto, means the occurrence of any of the following after the effective date of the Plan: (a) the date any “person”
(as that term is used in Sections 13 and 14(d)(2) of the Exchange Act (as defined herein) is or becomes the beneficial owner (as
that term is used in Section 13(d) of the Exchange Act), directly or indirectly, of fifty percent (50%) or more of the combined
voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (“Voting
Stock”); (b) the date when individuals who, at the beginning of any two (2) year period during the duration of the Plan,
constitute the Board, plus new Directors whose election or nomination for election by the Company’s shareholders is approved
by a vote of at least three-quarters (3/4) of the Directors still in office who were Directors at the beginning of such two (2)
year period, cease for any reason during such two (2) year period to constitute at least a majority of the members of such Board;
(c) the date a merger, share exchange or consolidation of the Company with any other corporation or entity is consummated regardless
of which entity is the survivor, other than a merger, share exchange or consolidation which would result in the voting securities
of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted
into voting securities of the surviving or acquiring entity) at least fifty percent (50%) of the combined voting power of the voting
securities of the Company or such surviving or acquiring entity outstanding immediately after such merger, share exchange or consolidation;
(d) the date which is ten (10) business days prior to the consummation of a complete liquidation or dissolution of the Company;
or (e) the date a sale or disposition by the Company of all or substantially all of the Company’s assets is consummated.






    	 



    	 



    

Notwithstanding the foregoing, with respect
to an Award that is (a) subject to Section 409A and (b) a Change in Control would accelerate the timing of payment thereunder,
the term “Change in Control” shall mean a change in the ownership or effective control of the Company, or in the ownership
of a substantial portion of the assets of the Company, as defined in Section 409A and the authoritative guidance issued thereunder,
but only to the extent inconsistent with the above definition, and only to the minimum extent necessary to comply with Section
409A as determined by the Committee.


2.7               
“Code” shall mean the Internal Revenue Code of 1986, as amended. Reference
in the Plan to any section of the Code shall be deemed to include any amendments or successor provisions to such section and any
regulations under such section.


2.8               
“Committee” shall have the meaning set forth in Section 1.2(a) of the Plan.


2.9               
“Common Stock” shall mean the Common Stock of the Company, one cent ($0.01)
par value per share.


2.10           
“Company” shall mean 1st United Bancorp, Inc., a Florida corporation, and
its successors.


2.11           
“Director” shall mean a member of the Board of Directors.


2.12           
“Disability” shall mean any of the following: (a) the Participant’s
inability to perform each of the essential duties of such Participant’s position 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 twelve (12) months; (b) the incurrence by the Participant 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 twelve (12) months;
or (c) the same meaning set forth in the principal disability insurance policy or similar program then maintained by the Company
on behalf of its Employees, if any. Notwithstanding the foregoing, in the case of any Incentive Stock Options, “Disability”
shall be defined under Section 22(e)(3) of the Code.


2.13           
“Dividend Equivalents” shall have the meaning set forth in Section 6.3.


2.14           
“Effective Date” shall mean the date this Plan is approved by the shareholders
of the Company.


2.15           
“Employee” shall mean a statutory employee of the Company or any of its
Affiliates, as defined in Code Section 1402(d).


2.16           
“Executive Officers” shall mean the officers of the Company as such term
is defined in Rule 16a-1 under the Exchange Act.


2.17           
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.


2.18           
“Fair Market Value” shall have the following meaning:


(a)                
Company’s Common Stock is Publicly Traded.


For purposes of the Plan, if the Company’s Common Stock
is publicly traded at the time of determination, “Fair Market Value” as of any date and in respect of any share of
Common Stock shall mean:






    	 



    	 



    

(i)                  
the average of the high and low prices of the Common Stock on the principal national securities
exchange on which the Common Stock is traded, or if no sales of Common Stock occur on the date in question, on the last preceding
date on which there was a sale on such market, if the Common Stock is then traded on a national securities exchange; or


(ii)                
the mean between the closing bid and ask prices last quoted by an established quotation service
for over-the-counter securities, or if no sales of Common Stock occur on the date in question, on the last preceding date on which
there was a sale on such market, if the Common Stock is not reported on a national securities exchange.


The above definition shall be interpreted consistent with
Treas. Reg. §1.401A-1(b)(5)(iv)(A)


(b)                
Company’s Common Stock is Not Publicly Traded.


For purposes of the Plan, if the Company’s Common Stock
is not publicly traded at the time of determination, “Fair Market Value” as of any date and in respect of any share
of Common Stock shall be deemed to be the fair value of the Common Stock as determined by the Committee after taking into consideration
all factors which it deems appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private
transactions negotiated at arm’s length.


(c)                
Notwithstanding anything to the contrary in this Plan, “Fair Market Value” shall
be determined by the Committee in accordance with Section 409A.


2.19           
“Holder” shall mean a Participant who has been granted a Nonqualified Stock
Option, an Incentive Stock Option, a Stock Appreciation Right, a Restricted Stock Award, a Phantom Stock Unit Award or a Performance
Share Unit Award.


2.20           
“Incentive Stock Option” shall have the meaning set forth in Section 4.1.


2.21           
“Incentive Stock Option Period” shall mean the period described in Section
4.6(a).


2.22           
“Key Persons” shall mean any Employee and shall also include any officers
or Directors of the Company whether or not the latter shall be an Employee of the Company.


2.23           
“Nonqualified Stock Option” shall mean an Option granted by the Committee
to a Participant under the Plan which is not designated by the Committee as an Incentive Stock Option.


2.24           
“Nonqualified Stock Option Period” shall mean the period described in Section
3.5(a).


2.25           
“Option” shall mean a Nonqualified Stock Option or an Incentive Stock Option.


2.26           
“Option Period” shall mean a Nonqualified Stock Option Period or an Incentive
Stock Option Period.


2.27           
“Option Price” shall mean the applicable Stock Option Price or Incentive
Option Price.


2.28           
“Participant” shall mean a Key Person who shall be granted an Award under
the Plan.


2.29           
“Performance Goals” shall mean the performance objectives of the Company
during an Award Period established for the purpose of determining whether, and to what extent, Awards will be earned for an Award
Period.


2.30           
“Performance Share Unit” shall mean a hypothetical investment equivalent
equal to one share of Common Stock granted in connection with an Award made under Article 8 of the Plan.






    	 



    	 



    

2.31           
“Phantom Stock Unit” shall mean a hypothetical investment equivalent equal
to one Share of Stock granted in connection with an Award made under Article 6 of the Plan, or credited with respect to Awards
of Performance Share Units which have been deferred under Article 8.


2.32           
“Plan” shall mean the 2013 Incentive Plan of 1st United Bancorp, Inc.


2.33           
“Restricted Period” shall mean, with respect to any share of Restricted
Stock, the period of time determined by the Committee during which such share of Restricted Stock is subject to the restrictions
set forth in Article 5, and with respect to any Phantom Stock Unit, the period of time determined by the Committee during which
such Phantom Stock Unit is subject to the restrictions set forth in Article 6.


2.34           
“Restricted Stock” shall mean shares of Common Stock issued or transferred
to a Participant subject to the restrictions set forth in Article 5 and any new, additional or different securities a Participant
may become entitled to receive as a result of adjustments made pursuant to Sections 9.13 or 9.14.


2.35           
“Restricted Stock Award” shall mean an Award granted under Article 5 of
the Plan.


2.36           
“Section 409A” means Section 409A of the Code and the guidance issued thereunder
by the United States Department of the Treasury and/or Internal Revenue Service.


2.37           
“Securities Act” means the Securities Act of 1933, as amended.


2.38           
“Stock” shall mean the Common Stock or such other authorized shares of
stock of the Company as the Board may from time to time authorize for use under the Plan.


2.39           
“Stock Appreciation Right” or “SAR” shall mean an Award
granted under Article 7 of the Plan.


2.40           
“Substitute Award” shall mean an award granted under this Plan upon the
assumption of, or in substitution for, outstanding equity awards previously granted by a company or other entity in connection
with a corporate transaction, including a merger, combination, consolidation, or acquisition of property or stock; provided, however,
that in no event shall the term “Substitute Award” be construed to refer to an Award made in connection with the cancellation
and repricing of an Option or SAR.


2.41           
“Valuation Date” shall mean the last day of an Award Period or the date
of death of a Participant, as applicable.


2.42           
“Vested Unit” shall have the meaning set forth in Section 6.6.


ARTICLE
3



NONQUALIFIED STOCK OPTIONS


3.1               
Award of Nonqualified Stock Options.


The Committee may from time to time,
and subject to the provisions of the Plan and such other terms and conditions as the Committee may prescribe, grant to any Key
Person one or more Options to purchase for cash or shares, the number of shares of Common Stock (“Nonqualified Stock Options”)
allotted by the Committee. The date a Nonqualified Stock Option is granted shall mean the date selected by the Committee as of
which the Committee shall allot a specific number of shares to a Participant pursuant to the Plan and when the Participant has
a legally binding right constituting the Nonqualified Stock Option; provided that the grant date may not be a date that occurs
prior to the date the Committee takes action to approve the Nonqualified Stock Option.






    	 



    	 



    

3.2               
Nonqualified Stock Option Agreements.


Each Nonqualified Stock Option granted
under the Plan shall be evidenced by a “Nonqualified Stock Option Agreement” between the Company and the Holder
of the Nonqualified Stock Option containing such provisions as may be determined by the Committee, but shall be subject to the
following terms and conditions.


(a)                
Each Nonqualified Stock Option or portion thereof that is exercisable shall be exercisable
for the full amount or for any part thereof, except as otherwise determined by the terms of the Nonqualified Stock Option Agreement.


(b)                
Each share of Common Stock purchased through the exercise of a Nonqualified Stock Option shall
be paid for in full at the time of the exercise. Each Nonqualified Stock Option shall cease to be exercisable as to any share of
Common Stock, at the earlier of: (i) the Holder purchases the share; (ii) the Holder exercises a related SAR; or (iii) when the
Nonqualified Stock Option lapses.


(c)                
Unless the Committee determines otherwise in its discretion in accordance with applicable
law, or as permitted by Section 9.3, Nonqualified Stock Options shall not be transferable (including by sale, assignment, pledge,
or hypothecation) by the Holder except by will or the laws of descent and distribution, or beneficiary designation procedures approved
by the Company, and shall be exercisable, prior to their expiration date, during the Participant’s lifetime solely by such
Participant (or in the event of such Participant’s legal incapacity or incompetency, such Participant’s guardian or
legal representative).


(d)                
Each Nonqualified Stock Option shall become exercisable by the Holder in accordance with the
vesting schedule (if any) established by the Committee for the Award.


(e)                
Each Nonqualified Stock Option Agreement may contain an agreement that, upon demand by the
Committee for such a representation, the Holder shall deliver to the Committee at the time of any exercise of a Nonqualified Stock
Option a written representation that the shares to be acquired upon such exercise are to be acquired for investment and not for
resale or with a view to the distribution thereof. Upon such demand, delivery of such representation prior to the delivery of any
shares issued upon exercise of a Nonqualified Stock Option shall be a condition precedent to the right of the Holder or such other
person to purchase any shares. In the event certificates for Common Stock are delivered under the Plan with respect to which such
investment representation has been obtained, the Committee may cause a legend or legends to be placed on such certificates to make
appropriate reference to such representation and to restrict transfer in the absence of compliance with applicable Federal or state
securities laws.


3.3               
Nonqualified Stock Option Price.


The exercise price per share of Common
Stock (the “Nonqualified Stock Option Price”) shall be set by the Committee at the time of grant subject to
the following: (i) the Nonqualified Stock Option Price shall never be less than the Fair Market Value
of the underlying stock on the date the Nonqualified Stock Option is granted; (ii) the number
of shares subject to the Nonqualified Stock Option Price must be fixed on the original date of
grant; and (iii) the Nonqualified Stock Option Price may not include any additional feature for
the deferral of compensation.


3.4               
Manner of Exercise and Form of Payment.


(a)                
Nonqualified Stock Options which have become exercisable may be exercised by delivery of written
notice of exercise (“Notice of Exercise”) to the Committee accompanied by payment of the Nonqualified Stock Option
Price. The Nonqualified Stock Option Price shall be payable in cash or such other means as set forth in the Nonqualified Stock
Option Agreement plus the amount (if any) of Federal and/or other taxes which the Company may, in its judgment, be required to
withhold with respect to an Award. If a Participant shall fail to pay the Nonqualified Stock Option Price at the time of exercise,
the Nonqualified Stock Option(s) which are being exercised shall become null and void.






    	 



    	 



    

(b)                
Notwithstanding Section 3.4(a), at the time the Notice of Exercise pertaining to the Nonqualified
Stock Option is given to the Committee with respect to the exercise of any Nonqualified Stock Option, unless an agreement pertaining
to an Award provides otherwise, and where permitted by the Committee and applicable laws, rules, and regulations, payment may also
be made: (i) by delivery (by either actual delivery or attestation) of shares of Common Stock owned by the Participant for a time
period determined by the Committee and otherwise acceptable to the Committee; (ii) by shares of Common Stock withheld upon exercise;
(iii) by delivery of notice of exercise to the Committee or its designee and delivery to a broker of notice of exercise and irrevocable
instructions to promptly deliver to the Company the amount of sale or loan proceeds to pay the Nonqualified Stock Option Price;
(iv) by such other payment methods as may be approved by the Committee and which are acceptable under applicable law; or (v) by
any combination of the foregoing methods. Shares tendered or withheld in payment on the exercise of an Option shall be valued at
their Fair Market Value.


(c)                
Any state or Federal withholding taxes attributable to the portion of the Non Qualified Stock
Option payable in cash shall be withheld from the cash that would otherwise be paid to the Participant hereunder.


3.5               
Nonqualified Stock Option Period; Termination.


(a)                
Each Nonqualified Stock Option shall be exercisable by the Holder in accordance with such
terms as shall be established by the Committee for the Nonqualified Stock Option, and unless a shorter period is provided by the
Committee or by another Section of the Plan, may be exercised during a period of ten (10) years from the date of grant thereof
(the “Nonqualified Stock Option Period”). No Nonqualified Stock Option shall be exercisable after the expiration
of its Nonqualified Stock Option Period.


(b)                
If the Holder dies within the Nonqualified Stock Option Period (or such other period as may
have been established by the Committee), any rights to the extent exercisable on the date of death may be exercised by the Holder’s
estate, or by a person who acquires the right to exercise such Nonqualified Stock Option by bequest or inheritance or by reason
of the death of the Holder, provided that such exercise occurs within both the Nonqualified Stock Option Period and six (6) months
after the Holder’s death.


(c)                
If the Holder’s relationship as an Employee, officer or Director of the Company terminates
by reason of Disability within the Nonqualified Stock Option Period, the Holder may, within six (6) months from the date of termination
(or within such other period as determined by the Committee), exercise any Nonqualified Stock Options to the extent such options
are exercisable during such six (6) month period.


(d)                
If the Holder’s relationship with the Company terminates for any reason other than death
or Disability, all unvested Nonqualified Stock Options shall, except as set forth in the Holder’s Nonqualified Stock Option
Agreement or as otherwise determined by the Committee at the time of the grant, terminate at the time of the termination of such
relationship or employment, as the case may be.


3.6               
Effect of Exercise.


As soon as practicable after receipt
of payment, the Company shall deliver to the optionee a certificate or certificates for such shares of Common Stock. The Participant
shall become a shareholder of the Company with respect to Common Stock represented by share certificates so issued and as such
shall be fully entitled to receive dividends, to vote and to exercise all other rights of a shareholder.






    	 



    	 



    

3.7               
Order of Exercise.


Options granted under the Plan may be
exercised in any order, regardless of the date of the grant or the existence of any other outstanding Nonqualified Stock Option
awarded to the Participant.


ARTICLE
4



INCENTIVE STOCK OPTIONS


4.1               
Award of Incentive Stock Options.


The Committee may, from time to time
and subject to the provisions of the Plan and such other terms and conditions as the Committee may prescribe, grant to any Key
Person who is an Employee of the Company one or more “incentive stock options” (intended to qualify as such under the
provisions of Section 422 of the Code) (“Incentive Stock Options”) to purchase for cash or shares, the number
of shares of Common Stock allotted by the Committee. The date an Incentive Stock Option is granted shall mean the date selected
by the Committee as of which the Committee allots a specific number of shares to a Participant pursuant to the Plan; provided that
the grant date may not be a date that occurs prior to the date the Committee takes action to approve the Incentive Stock Option.


4.2               
Incentive Stock Option Agreements.


Each Incentive Stock Option granted under
the Plan shall be evidenced by an “Incentive Stock Option Agreement” between the Company and the Holder of the
Incentive Stock Option, stating the number of shares of Common Stock subject to the Incentive Stock Option evidenced thereby and
containing such other provisions as may be determined by the Committee from time to time, but shall be subject to the following
terms and conditions.


(a)                
Each Incentive Stock Option or portion thereof that is exercisable shall be exercisable for
the full amount or for any part thereof, except as otherwise determined by the terms of the Incentive Stock Option Agreement.


(b)                
Each share of Common Stock purchased through the exercise of an Incentive Stock Option shall
be paid for in full at the time of the exercise. Each Incentive Stock Option shall cease to be exercisable, as to any share of
Common Stock, at the earlier of: (i) the Holder purchases the share; (ii) the Holder exercises a related SAR; or (iii) when the
Incentive Stock Option lapses.


(c)                
Unless the Committee determines otherwise in its discretion in accordance with applicable
law, Incentive Stock Options shall not be transferable (including by sale, assignment, pledge, or hypothecation) by the Holder
except by will or the laws of descent and distribution, or beneficiary designation procedures approved by the Company. Except as
otherwise permitted by Section 422 of the Code, Incentive Stock Options shall be exercisable, prior to their expiration date, during
the Participant’s lifetime solely by such Participant (or in the event of such Participant’s legal incapacity or incompetency,
such Participant’s guardian or legal representative).


(d)                
Each Incentive Stock Option shall become exercisable by the Holder in accordance with the
vesting schedule (if any) established by the Committee for the Award.


(e)                
Each Incentive Stock Option Agreement may contain an agreement that, upon demand by the Committee
for such a representation, the Holder shall deliver to the Committee at the time of any exercise of an Incentive Stock Option a
written representation that the shares to be acquired upon such exercise are to be acquired for investment and not for resale or
with a view to the distribution thereof. Upon such demand, delivery of such representation prior to the delivery of any shares
issued upon exercise of an Incentive Stock Option shall be a condition precedent to the right of the Holder or such other person
to purchase any shares. In the event certificates for Common Stock are delivered under the Plan with respect to which such investment
representation has been obtained, the Committee may cause a legend or legends to be placed on such certificates to make appropriate
reference to such representation and to restrict transfer in the absence of compliance with applicable Federal or state securities
laws.






    	 



    	 



    

4.3               
Incentive Stock Option Price.


The option price per share of Common
Stock deliverable upon the exercise of an Incentive Stock Option shall be the Fair Market Value of a share of Common Stock on the
date the Incentive Stock Option is granted.


4.4               
Special Rule for Ten Percent Shareholder.


Notwithstanding Sections 4.2 and 4.3,
if Incentive Stock Options are issued to 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, then (a) the option price per share of Common Stock deliverable upon the exercise
of an Incentive Stock Option shall be at least one hundred and ten percent (110%) of the Fair Market Value of a share of Common
Stock on the date the Incentive Stock Option is granted; and (b) such option, by its terms, shall not be exercisable after the
expiration of five (5) years from the date such option is granted.


4.5               
Maximum Amount of Incentive Stock Option Grant.


The aggregate Fair Market Value (determined
on the date the option is granted) of Common Stock subject to an Incentive Stock Option granted to a Participant by the Committee
in any calendar year shall not exceed One Hundred Thousand Dollars ($100,000) (or such other amount set forth in Section 422 of
the Code) (the “ISO Limitation Amount”). To the extent the aggregate Fair Market Value (determined on the date
the option is granted) of Common Stock for which Incentive Stock Options are exercisable for the first time during any calendar
year (under all plans of the Company) exceeds the ISO Limitation Amount, such excess Incentive Stock Options shall be treated as
Nonqualified Stock Options.


4.6               
Incentive Stock Option Period; Termination.


(a)                
Each Incentive Stock Option shall be exercisable by the Holder in accordance with such terms
as shall be established by the Committee for the Incentive Stock Option, and, unless a shorter period is provided by the Committee
or by another Section of the Plan, may be exercised during a period of ten (10) years from the date of grant thereof (the “Incentive
Stock Option Period”). No Incentive Stock Option shall be exercisable after the expiration of its Incentive Stock Option
Period.


(b)                
If the Holder dies within the Incentive Stock Option Period (or such other period as may have
been established by the Committee), any rights to the extent exercisable on the date of death may be exercised by the Holder’s
estate, or by a person who acquires the right to exercise such Incentive Stock Option by bequest or inheritance or by reason of
the death of the Holder, provided that such exercise occurs within both the Incentive Stock Option Period and six (6) months after
the Holder’s death.


(c)                
If the Holder’s relationship as an Employee officer or Director of the Company terminates
by reason of Disability within the Incentive Stock Option Period, the Holder may, within six (6) months from the date of termination
(or within such other period as determined by the Committee), exercise any Incentive Stock Options to the extent such options are
exercisable during such six (6) month period (or such other period as determined by the Committee).






    	 



    	 



    

(d)                
Notwithstanding the foregoing, the tax treatment available pursuant to Section 422 of the
Code upon the exercise of an Incentive Stock Option will not be available to a Holder who exercises any Incentive Stock Options
more than (i) twelve (12) months after the date of termination of employment due to Disability or (ii) three (3) months after the
date of termination of employment due to death.


(e)                
If the Holder’s employment or relationship with the Company terminates for any reason
other than death or Disability, all unvested Incentive Stock Options shall, except as set forth in the Holder’s Incentive
Stock Option Agreement or as otherwise determined by the Committee at the time of the grant, terminate at the time of the termination
of such relationship.


4.7               
Notice of Disposition.


Participants shall give prompt notice
to the Committee of any disposition of Common Stock acquired upon exercise of an Incentive Stock Option if such disposition occurs
within either two (2) years after the date of the grant of such Incentive Stock Option and/or one (1) year after the receipt of
such Common Stock by the Holder.


4.8               
Applicability of Nonqualified Stock Options Sections.


Sections 3.4 (Manner of Exercise and
Form of Payment), 3.6 (Effect of Exercise) and 3.7 (Order of Exercise) applicable to Nonqualified Stock Options, shall apply equally
to Incentive Stock Options. These Sections are incorporated by reference in this Article 4 as though fully set forth herein.


ARTICLE
5



RESTRICTED STOCK


5.1               
Grant of Restricted Stock.


The Committee may, from time to time
and subject to the provisions of the Plan and such other terms and conditions as the Committee may prescribe, grant Restricted
Stock to any Key Person.


5.2               
Restricted Stock Agreement.


(a)                
The grant or sale of Restricted Stock shall be evidenced by a “Restricted Stock Agreement”
between the Company and Participant who is the recipient or purchaser of the Restricted Stock, including such terms as the time
or times at which the Restricted Stock shall be granted or become vested, the number of shares of Common Stock subject to each
Restricted Stock Award or sale, the period of time, if any, during which all of or a portion of such shares shall be subject to
vesting, forfeiture and such other terms and conditions of such Restricted Stock Grant, if any, the Committee may from time to
time determine. In addition to the Restricted Stock Agreement, the Holder of a Restricted Stock Award shall execute and deliver
to the Secretary of the Company an escrow agreement satisfactory to the Committee and the appropriate blank stock powers with respect
to the Restricted Stock covered by such agreements and shall pay to the Company as the purchase price of the shares of Common Stock
subject to such Award, the aggregate par value of such shares of Common Stock within sixty (60) days following the making of such
Award which purchase price shall be deemed to have been paid by the Participant by services previously rendered to the Company.
If a Participant shall fail to execute the Restricted Stock Agreement, escrow agreement and stock powers, the Award shall be null
and void.






    	 



    	 



    

(b)                
Subject to the restrictions set forth in Section 5.4, the Holder shall generally have the
rights and privileges of a shareholder as to such Restricted Stock, including the right to vote such Restricted Stock and the right
to receive all dividends and other distributions of the Company with respect to such Restricted Stock. Notwithstanding the foregoing,
at the discretion of the Committee, cash and stock dividends with respect to the Restricted Stock may be either currently paid
or withheld by the Company for the Holder’s account, and interest may be paid on the amount of cash dividends withheld at
a rate and subject to such terms as determined by the Committee. Cash or stock dividends so withheld by the Committee shall not
be subject to forfeiture.


5.3               
Escrow Stock Certificates.


Upon satisfaction of the requirements
set forth in Section 5.2, the Committee shall then cause stock certificates registered in the name of the Holder to be issued and
deposited together with the stock powers with an escrow agent to be designated by the Committee. The Committee shall cause the
escrow agent to issue to the Holder a receipt evidencing any stock certificate held by it registered in the name of the Holder.


5.4               
Restrictions.


(a)                
Restricted Stock awarded to a Participant shall be subject to the following restrictions until
the expiration of the Restricted Period: (i) the Holder shall not be entitled to delivery of the stock certificate; (ii) the shares
shall be subject to the restrictions on transferability set forth in the grant; and (iii) the shares shall be subject to forfeiture
to the extent provided in the Restricted Stock Agreement and, to the extent such shares are forfeited, the stock certificates shall
be returned to the Company, and all rights of the Holder to such shares and as a shareholder with respect to such shares shall
terminate without further obligation on the part of the Company.


(b)                
The Committee shall have the authority to remove any or all of the restrictions on the Restricted
Stock whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the
date of the Restricted Stock Award, such action is appropriate. In addition, to the extent a Holder’s Restricted Stock Agreement
or a Holder’s employment agreement provides for the removal of restrictions on the Restricted Stock upon (A) a Change
in Control, (B) the death of the Holder, (C) the Disability of the Holder, or (D) the Holder’s termination
of employment not for “cause”, absent a written agreement between the Holder and the Company to the contrary, such
restrictions shall be automatically removed without action by the Committee upon the occurrence of such event. 


5.5               
Restricted Period.


The “Restricted Period”
of Restricted Stock shall commence on the date of the Award and shall expire from time to time as to that part of the Restricted
Stock indicated in the Restricted Stock Agreement or otherwise set forth on a schedule established by the Committee with respect
to the Award.


5.6               
Payment of Taxes: Delivery of Restricted Stock.


(a)                
Upon the expiration of the Restricted Period with respect to any shares of Common Stock covered
by a Restricted Stock Award, and upon payment to the Committee of cash sufficient for the Company to pay all applicable payroll,
employment, etc., taxes attributable to the Restricted Stock in the same manner as in Section 3.4 hereof, a stock certificate evidencing
the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (to
the nearest full share) shall be delivered without charge to the Holder, or his estate, free of all restrictions under the Plan.






    	 



    	 



    

(b)                
Notwithstanding the foregoing, upon expiration of the Restricted Period, if a Participant
shall not pay the taxes attributable to the exercise of the Restricted Period as set forth in Subsection (a), above, the Committee
shall thereupon sell without further direction by the Participant a sufficient number of shares of the Restricted Stock in accordance
with reasonably uniform procedures adopted by the Committee in order to pay such employment, payroll, etc., taxes attributable
thereto in the same manner as a “cashless” exercise in Section 3.4(b). The balance of the Restricted Stock shares remaining
subsequent to such sale together with any cash from a sale of a fractional sale shall thereupon be distributed to the Participant.


(c)                
Any state or Federal withholding taxes attributable to the portion of the Restricted Stock
payable in cash shall be withheld from the cash that would otherwise be paid to the Participant hereunder.


5.7               
Payment for Restricted Stock.


Except as provided in Sections 5.2 and
5.6, a Participant shall not be required to make any payment for Common Stock received pursuant to a Restricted Stock Award.


ARTICLE
6



PHANTOM STOCK UNITS


6.1               
Grant of Phantom Stock Units.


Subject to the limitations of this Plan,
the Committee shall have the authority to (a) grant Phantom Stock Unit Awards to Key Persons, and (b) to establish terms, conditions
and restrictions applicable to such Phantom Stock Units, including the Restricted Period, and the time or times at which the Phantom
Stock Units shall be granted or become vested and the number of Phantom Stock Units to be covered by each grant.


6.2               
Phantom Stock Unit Agreement.


The grant of Phantom Stock Units shall
be evidenced by a “Phantom Stock Unit Agreement” between the Company and the Participant who is a recipient
of the Phantom Stock Units, including such terms as the Committee may from time to time determine.


6.3               
No Stock Issuance.


In the case of a Phantom Stock Units
Award, no shares of Common Stock shall be issued at the time the Award is made, and the Company will not be required to set aside
a fund for the payment of any such Award. The Committee shall, in its sole discretion, determine whether to credit to the account
of, or to currently pay to, each recipient of an Award of Phantom Stock Units an amount equal to the cash dividends paid by the
Company upon one share of Common Stock for each Phantom Stock Unit then credited to such Participant’s account (“Dividend
Equivalents”). Dividend Equivalents credited to a Holder’s account shall be subject to forfeiture and may bear
interest at a rate and subject to such terms as determined by the Committee.


6.4               
Restrictions.


(a)                
Phantom Stock Units awarded to any Participant shall be subject to the following restrictions
until the expiration of the Restricted Period: (i) the Phantom Stock shall be subject to forfeiture to the extent provided in the
Phantom Stock Unit Agreement and, to the extent such units are forfeited, all rights of the Participant to such units shall terminate
without further obligation on the part of the Company, and (ii) any other restrictions which the Committee may determine in advance
are necessary or appropriate.


(b)                
The Committee shall have the authority to remove any or all of the restrictions on the Phantom
Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after
the date of the Phantom Stock Award, such action is appropriate.






    	 



    	 



    

6.5               
Restricted Period.


The Restricted Period of Phantom Stock
Units shall commence on the date of the grant and shall expire from time to time as to that part of the Phantom Stock Units indicated
in the Phantom Stock Unit Agreement or otherwise set forth in a schedule established by the Committee with respect to the Award.


6.6               
Settlement of Phantom Stock Units.


Upon the expiration of the Restricted
Period with respect to any Phantom Stock Units covered by a Phantom Stock Unit Award, the Company shall deliver to the Holder or
his estate without any charge one share of Common Stock for each Phantom Stock Unit which has not then been forfeited and with
respect to which the Restricted Period has expired (“Vested Unit”) and cash equal to any Dividend Equivalents
credited with respect to each such Vested Unit and the interest thereon, if any; provided, however, that the Committee may, in
its sole discretion, elect to pay cash or part cash and part Common Stock in lieu of delivering only Common Stock for Vested Units.
If cash payment is made in lieu of delivering Common Stock, the amount of such payment shall be equal to the Fair Market Value
for the date on which the Restricted Period lapsed with respect to such Vested Unit.


6.7               
Payment of Taxes.


(a)                
Upon the distribution of any shares of Common Stock in kind to the Participant as set forth
in Section 6.6, any and all taxes attributable to the Common Stock being distributed hereunder shall be paid by the Participant
to the Committee determined and paid in the same manner as in Section 3.4 hereof prior to delivery of the Common Stock to the Participant
or his or her estate.


(b)                
Notwithstanding the foregoing, upon expiration of the Restricted Period, if a Participant
shall not pay the taxes attributable to distribution of Common Stock as set forth in Subsection (a) above, the Committee shall
thereupon sell without further direction by the Participant a sufficient number of shares of the Restricted Stock in accordance
with reasonably uniform procedures adopted by the Committee in order to pay such employment, payroll, etc., taxes attributable
thereto in the same manner as a “cashless” exercise in Section 3.4(b). The balance of the Common Stock shares remaining
shall thereupon be distributed to the Participant.


(c)                
Any state or Federal withholding taxes attributable to the portion of the Phantom Stock Unit
payable in cash shall be withheld from the cash that would otherwise be paid to the Participant hereunder.


ARTICLE
7



Stock Appreciation Rights


7.1               
Stock Appreciation Rights.


Any Option granted under the Plan to
Key Persons may include a Stock Appreciation Right or SAR, granted at either at the time of the Option Grant or by amendment except
that in the case of an Incentive Stock Option, such SAR shall be granted only at the time of grant of the related Incentive Stock
Option itself. The Committee may also award SARs to Key Persons independently of any Option other than an Incentive Stock Option.
A SAR shall be subject to such terms and conditions not inconsistent with the Plan as the Committee shall impose, including, but
not limited to, the terms set forth in this Article 7.






    	 



    	 



    

7.2               
SAR Exercise Price. The exercise price per share of the SAR shall be set by the Committee
at the time of grant subject to the following: (i) the SAR exercise price shall never be less than the
Fair Market Value of the underlying stock on the date the SAR is granted; (ii) the number of shares subject to the SAR must be
fixed on the original date of grant; and (iii) the SAR may not include any additional feature for the deferral of compensation.


7.3               
Vesting.


A SAR granted in connection with an Option
shall become exercisable, be transferable and shall lapse according to the same vesting schedule, transferability and lapse rules
that are established by the Committee for the Option. A SAR granted independent of an Option shall become exercisable, be transferable
and shall lapse in accordance with a vesting schedule, transferability and lapse rules established by the Committee.


7.4               
Failure to Exercise.


If on the last day of an Option Period
(or in the case of a SAR independent of an Option, the SAR period established by the Committee), the Fair Market Value of the Common
Stock exceeds the Option Price or SAR Exercise Price, as the case may be, the Holder has not exercised the Option or the SAR, and
neither the Option nor the SAR has lapsed, such SAR shall be deemed to have been exercised by the Holder on such last day, and
the Company shall make the appropriate payment therefor.


7.5               
Payment.


The amount of additional compensation
which may be received pursuant to the award of one (1) SAR is the excess, if any, of the Fair Market Value of one share of Common
Stock on the Appreciation Date over the Option Price, in the case of a SAR granted in connection with an Option, or the Fair Market
Value of one (1) share of Common Stock on the date of the grant, in the case of a SAR granted independent of an Option. The Company
shall pay such excess in cash, in shares of Common Stock valued at Fair Market Value, or any combination thereof, as determined
by the Committee. Fractional shares shall be settled in cash.


7.6               
Designation of Appreciation Date.


A Participant may designate an Appreciation
Date at such time or times as may be determined by the Committee at the time of grant by filing an irrevocable written notice with
the Committee or its designee, specifying the number of SARs to which the Appreciation Date relates, and the date on which such
SARs were awarded. Such time or times determined by the Committee may take into account any applicable “window periods”
required by Rule 16b-3 under the Exchange Act.


7.7               
Expiration.


Except as otherwise provided in the case
of SARs granted in connection with Options, the SARs shall expire on a date designated by the Committee which is not later than
ten (10) years after the date on which the SAR was awarded (“Expiration Date”).






    	 



    	 



    

7.8               
Payment of Taxes.


(a)                
Upon the distribution of any shares of Common Stock in kind to the Participant attributable
to the exercise of a SAR, any and all taxes attributable to the Common Stock being distributed hereunder shall be paid by the Participant
to the Committee determined and paid in the same manner as in Section 3.4 hereof prior to delivery of the Common Stock to the Participant
or his or her estate.


(b)                
Notwithstanding the foregoing, upon an Expiration Date, if a Participant shall not pay the
taxes attributable to the distribution of Common Stock as set forth in Subsection (a) above, the Committee shall thereupon sell
without further direction by the Participant a sufficient number of shares of the Common Stock in accordance with reasonably uniform
procedures adopted by the Committee in order to pay such employment, payroll, etc., taxes attributable thereto in the same manner
as a “cashless” exercise in Section 3.4(b). The balance of the Common Stock shares remaining shall thereupon be distributed
to the Participant.


(c)                
Any state or Federal withholding taxes attributable to the portion of the SAR payable in cash
shall be withheld from the cash that would otherwise be paid to the Participant hereunder.


ARTICLE
8



PERFORMANCE SHARES


8.1               
Grant of Performance Shares.


The Committee is authorized to establish
Performance Share programs for Key Persons to be effective over designated Award Periods of not less than one (1) year nor more
than five (5) years. At the beginning of each Award Period, the Committee will establish in writing Performance Goals based upon
financial or other objectives for the Company for such Award Period and a schedule relating the accomplishment of the Performance
Goals to the Awards to be earned by Participants. Performance Goals may include absolute or relative growth in earnings per share
or rate of return on shareholders’ equity or other measurement of corporate performance and may be determined on an individual
basis or by categories of Participants. The Committee may adjust Performance Goals or performance measurement standards as it deems
equitable in recognition of extraordinary or non-recurring events experienced during an Award Period by the Company or by any other
corporation whose performance is relevant to the determination of whether Performance Goals have been attained. The Committee shall
determine the number of Performance Share Units to be awarded, if any, to each Participant who is selected to receive an Award.
The Committee may add new Participants to a Performance Share program after its commencement by making pro rata grants. No Performance
Share granted hereunder shall include any additional feature for the deferral of compensation.


8.2               
Partial Awards.


A Participant for less than a full Award
Period, whether by reason of commencement or termination of employment or otherwise, shall receive such portion of an Award, if
any, for that Award Period as the Committee shall determine.


8.3               
Adjustment of Performance Goals.


The Committee may, during the Award Period,
make such adjustments to Performance Goals as it may deem appropriate, to compensate for, or reflect, any significant changes that
may have occurred during such Award Period in (a) applicable accounting rules or principles or changes in the Company’s method
of accounting or in that of any other corporation whose performance is relevant to the determination of whether an Award has been
earned, or (b) tax laws or other laws or regulations that alter or affect the computation of the measures of Performance Goals
used for the calculation of Awards.






    	 



    	 



    

8.4               
Payment of Awards.


The amount earned with respect to an
Award shall be fully payable in shares of Common Stock based on the Fair Market Value on the Valuation Date; provided, however,
that, at its discretion, the Committee may vary such form of payment in whole or partial consideration of the Performance Share
as to any Participant upon the specific request of such Participant which form may include cash. Except as otherwise determined
by the Committee, payments of Awards shall be made as soon as practicable after the completion of an Award Period.


8.5               
Payment of Taxes.


(a)                
Upon the distribution of any shares of Common Stock in kind to the Participant attributable
to a Performance Share, any and all taxes attributable to the Common Stock being distributed hereunder shall be paid by the Participant
to the Committee determined and paid in the same manner as in Section 3.4 hereof prior to delivery of the Common Stock to the Participant
or his or her estate.


(b)                
Notwithstanding the foregoing, upon an Expiration Date, if a Participant shall not pay the
taxes attributable to the distribution of Common Stock as set forth in Subsection (a) above, the Committee shall thereupon sell
without further direction by the Participant a sufficient number of shares of the Common Stock in accordance with reasonably uniform
procedures adopted by the Committee in order to pay such employment, payroll, etc., taxes attributable thereto in the same manner
as a “cashless” exercise in Section 3.4(b). The balance of the Common Stock shares remaining shall thereupon be distributed
to the Participant.


(c)                
Any state or Federal withholding taxes attributable to the portion of the Performance Share
payable in cash shall be withheld from the cash that would otherwise be paid to the Participant hereunder.


ARTICLE
9



MISCELLANEOUS


9.1               
General Restriction.


Each Award under the Plan shall be subject
to the requirement that, if at any time the Committee shall determine that (a) the listing, registration or qualification of the
shares of Common Stock subject or related thereto upon any securities exchange or under any state or Federal law, or (b) the consent
or approval of any government regulatory body, or (c) an agreement by the grantee of an Award with respect to the disposition of
shares of Common Stock, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the issue
or purchase of shares of Common Stock thereunder, such Award may not be consummated in whole or in part unless such listing, registration,
qualification, consent, approval or agreement shall have been effected or obtained free of any conditions not acceptable to the
Committee.






    	 



    	 



    

9.2               
Additional Provisions of an Award.


The award of any benefit under the Plan
may also be subject to such other provisions (whether or not applicable to the benefit awarded to any other Participant) as the
Committee determines appropriate, including, without limitation, provisions to assist the Participant in financing the purchase
of Common Stock through the exercise of Options, provisions for the forfeiture of or restrictions on resale or other disposition
of shares acquired under any form of benefit, provisions giving the Company the right to repurchase shares acquired under any form
of benefit in the event the Participant elects to dispose of such shares, and provisions to comply with Federal and state securities
laws and Federal and state income tax withholding requirements.


9.3               
Restrictions on Transferability.


Unless the Committee determines otherwise
in accordance with applicable law, no Award under the Plan shall be transferable (including by sale, assignment, pledge, or hypothecation)
by the recipient thereof, except by will or by the laws of descent and distribution, or pursuant to beneficiary designation procedures
approved by the Company, or, to the extent expressly permitted in the agreement relating to such Award, to the Holder’s family
members, a trust or entity established by the Holder for estate planning purposes, or a charitable organization designated by the
Holder, in each case without consideration; provided, however, that Incentive Stock Options shall not be transferable by the Holder
except by will or the laws of descent and distribution, beneficiary designation procedures approved by the Company, or in the Committee's
discretion (in accordance with Section 422 of the Code, and registration provisions of the Securities Act). Except to the extent
permitted by the foregoing sentence or the agreement relating to an Award, each Award shall be exercisable only by such person
or by such person’s guardian or legal representative; provided, however, that Incentive Stock Options shall be exercisable,
prior to their expiration date, during the Participant's lifetime solely by such Participant (or in the event of such Participant's
legal incapacity or incompetency, such Participant's guardian or legal representative). Except to the extent permitted by the foregoing
sentences of this Section 9.3, no right or benefit under this Plan shall be subject to anticipation, alienation, sale, assignment,
pledge, encumbrance or charge and any attempt to anticipate, alienate, sell, assign, pledge, encumber or charge the same shall
be void. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities or torts
of the person entitled to such benefits. If any Participant or beneficiary hereunder shall become bankrupt or attempt to anticipate,
alienate, assign, pledge, sell, encumber or charge any right or benefit hereunder in violation of this Section 9.3, then such right
or benefit shall in the discretion of the Committee cease. Such Units shall thereupon become null and void.


9.4               
Withholding Taxes.


Notwithstanding any other provision of
the Plan, the Company shall have the right in general and in addition to any other specific procedure for the payment of taxes
attributable to any Award to deduct from all Awards, to the extent paid in cash, all Federal, state or local taxes as required
by law to be withheld with respect to such Awards and, in the case of Awards paid in Common Stock, the Holder or other person receiving
such Common Stock may be required to pay to the Company prior to delivery of such stock, the amount of any such taxes which the
Company is required to withhold, if any, with respect to such Common Stock. Subject in particular cases to the disapproval of the
Committee, the Company may accept shares of Common Stock of equivalent Fair Market Value in payment of such withholding tax obligations
if the Holder of the Award elects to make payment in such manner at least six (6) months prior to the date such tax obligation
is determined.






    	 



    	 



    

9.5               
Employment Not Affected.


Nothing in the Plan or in any agreement
entered into pursuant to the Plan shall confer upon any Participant the right to continue to serve on the Board of the Company
or in the employment of the Company or affect any right which the Company, or its shareholders, may have to terminate the relationship
or employment of such Participant.


9.6               
Acceleration Events.


If a Change in Control of the Company
occurs, the Board may direct the Committee to declare that all Nonqualified Stock Options and Incentive Stock Options granted under
the Plan shall become immediately vested and that such restrictions applicable to Restricted Stock Grants, Phantom Stock Units
and SARs as determined by the Board shall be waived, notwithstanding the provisions of the respective agreements regarding exercisability.


9.7               
Payments Upon Death of Participant.


Upon the death of a Participant in the
Plan, the Company shall pay the amounts payable with respect to an Award of Performance Share Units, Phantom Share Units or Restricted
Stock, if any, due under the Plan to the Participant’s estate.


9.8               
Payments to Persons Other than Participants.


If the Committee shall find that any
person to whom any amount is payable under the Plan is unable to care for his or her affairs because of illness or accident, or
is a minor, or has died, then any payment due to such person or his or her estate (unless a prior claim therefor has been made
by a duly appointed legal representative), may, if the Committee so directs the Company, be paid to his or her spouse, child, relative,
an institution maintaining or having custody of such person, or any other person deemed by the Committee to be a proper recipient
on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the
Committee and the Company therefor.


9.9               
Non-Uniform Determinations.


The Committee’s determinations
under the Plan (including, without limitation, determinations of the persons to receive Awards, the form, amount and timing of
such Awards, the terms and provisions of such Awards and the agreements evidencing same) need not be uniform and may be made by
it selectively among persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly
situated.


9.10           
Rights as a Shareholder.


Except as otherwise specifically provided
in the Plan, no person shall be entitled to the privileges of stock ownership in respect of shares of Common Stock which are subject
to Options or Restricted Stock Awards, Performance Share Unit Awards or Phantom Stock Unit Awards hereunder until such shares have
been issued to that person upon exercise of an Option according to its terms or upon sale or grant of those shares in accordance
with a Restricted Stock Award, Performance Share Unit Award or Phantom Stock Unit Award.






    	 



    	 



    

9.11           
Leaves of Absence.


The Committee shall be entitled to make
such rules, regulations and determinations as it deems appropriate under the Plan in respect of any leave of absence taken by the
recipient of any Award. Without limiting the generality of the foregoing, the Committee shall be entitled to determine (a) whether
or not any such leave of absence shall constitute a termination of employment within the meaning of the Plan and (b) the impact,
if any, of any such leave of absence on Awards under the Plan previously made to any recipient who takes such leave of absence.


9.12           
Newly Eligible Employees.


The Committee shall be entitled to make
such rules, regulations, determinations and Awards as it deems appropriate in respect of any person who becomes eligible to participate
in the Plan or any portion thereof after the commencement of an Award or incentive period.


9.13           
Adjustments.


Unless the Committee specifically determines
otherwise, Options, SARs, Restricted Stock Awards, Phantom Stock Unit Awards, Performance Share Unit Awards, and any agreements
evidencing such Awards, and Performance Goals, shall be subject to adjustment or substitution as to the number, price or, if applicable,
kind of shares of stock or other consideration subject to such Awards or as otherwise determined by the Committee to be equitable
(a) in the event of changes in the outstanding Common Stock or in the capital structure of the Company, or of any other corporation
whose performance is relevant to the attainment of Performance Goals hereunder, by reason of stock dividends, stock splits, recapitalizations,
reorganizations, mergers, consolidations, combinations, exchanges or other relevant changes in capitalization occurring after the
date of the grant of any such Award or (b) in the event of any change in applicable laws or any change in circumstances which results
in or would result in any substantial dilution or enlargement of the rights granted to, or available for, Participants in the Plan,
or which otherwise warrants equitable adjustment because it interferes with the intended operation of the Plan. In addition, unless
the Committee specifically determines otherwise, in the event of any such adjustments or substitution, the aggregate number of
shares of Common Stock available under the Plan shall be appropriately adjusted by the Committee, whose determination shall be
conclusive. Any adjustment in Incentive Stock Options under this Section shall be made only to the extent not constituting a “modification”
within the meaning of Section 424(h)(3) of the Code, and any adjustments under this Section shall be made in a manner which does
not adversely affect the exemption provided pursuant to Rule 16b-3 under the Exchange Act. The Company shall give each Participant
notice of an adjustment hereunder and, upon notice, such adjustment shall be conclusive and binding for all purposes.






    	 



    	 



    

9.14           
Effect of Change in Control.


(a)                
In the event of a Change in Control and notwithstanding any vesting schedule provided for
hereunder or by the Committee with respect to an Award of Options, SARs, Phantom Stock Units or Restricted Stock, such Option or
SAR shall become immediately exercisable with respect to one hundred percent (100%) of the shares subject to such Option or SAR,
and the Restricted Period shall expire immediately with respect to one hundred percent (100%) of the Phantom Stock Units or shares
of Restricted Stock subject to Restrictions; provided, however, that to the extent that so accelerating the time an Incentive Stock
Option may first be exercised would cause the limitation provided in Section 4.5 to be exceeded, such Options shall instead first
become exercisable in so many of the next following years as is necessary to comply with such limitation.


(b)                
In the event of a Change in Control, all incomplete Award Periods in effect on the date the
Change in Control occurs shall end on the date of such change, and the Committee shall (i) determine the extent to which Performance
Goals with respect to each such Award Period have been met based upon such audited or unaudited financial information then available
as it deems relevant, (ii) cause to be paid to each Participant partial or full Awards with respect to Performance Goals for each
such Award Period based upon the Committee’s determination of the degree of attainment of Performance Goals, and (iii) cause
all previously deferred Awards to be settled in full as soon as possible.


(c)                
The obligations of the Company under the Plan shall be binding upon any successor corporation
or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation
or organization succeeding to substantially all of the assets and business of the Company. The Company agrees that it will make
appropriate provisions for the preservation of a Participant’s rights under the Plan in any agreement or plan which it may
enter into or adopt to effect any such merger, consolidation, reorganization or transfer of assets.


9.15           
Unfunded Plan.


The Plan shall be unfunded. Except as
otherwise provided in the Plan, no provision of the Plan shall require the Company, for the purpose of satisfying any obligations
under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise
to segregate any assets, nor shall the Company maintain separate bank accounts, books, records, or other evidence of the existence
of a segregated or separately maintained or administered fund for such purposes. Holders shall have no rights under the Plan other
than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional
compensation by performance of services, they shall have the same rights as other employees under general law.


9.16           
Reliance on Reports.


Each member of the Committee shall be
fully justified in relying, acting or failing to act, and shall not be liable for having so relied, acted or failed to act in good
faith, upon any report made by the independent public accountant of the Company and upon any other information furnished in connection
with the Plan by any person or persons other than himself or herself.


9.17           
Relationship to Other Benefits.


No payment under the Plan shall be taken
into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of
the Company except as otherwise specifically provided.






    	 



    	 



    

9.18           
Expenses.


The expenses of administering the Plan
shall be borne by the Company.


9.19           
Titles and Headings.


The titles and headings of the Sections
in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles
or headings, shall control.


9.20           
No Presumption.


The fact that this Plan was prepared
by counsel for the Company shall create no presumptions and specifically shall not cause any ambiguities to be construed against
the Company.


9.21           
Nonexclusivity of the Plan.


Neither the adoption of this Plan by
the Board nor the submission of this Plan to the shareholders of the Company for approval shall be construed as creating any limitations
on the power of the Board or the Committee to adopt such other incentive arrangements as it may deem desirable, including, without
limitation, the granting of stock options otherwise than under this Plan, and such arrangements may be either applicable generally
or only in specific cases.


9.22           
No Liability of Committee Members.


No member of the Committee shall be personally
liable by reason of any contract or other instrument executed by such member or on his or her behalf in his or her capacity as
a member of the Committee nor for any mistake of judgment made in good faith, and the Company shall defend, indemnify and hold
harmless each member of the Board and each other employee, officer or Director of the Company to whom any duty or power relating
to the administration or interpretation of the Plan may be allocated or delegated, against any cost or expense (including counsel
fees) or liability (including any sum paid in settlement of a claim) arising out of any act or omission to act in connection with
the Plan unless arising out of such person’s own fraud or bad faith; provided, however, that approval of the
Board shall be required for the payment of any amount in settlement of a claim against any such person. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s
Articles of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them
or hold them harmless.


9.23           
Governing Law; Construction.


The validity and construction of the
Plan and the instruments evidencing Awards under the Plan shall be governed by the laws of the state of Florida without regard
to principles of conflicts of law. In construing the Plan, the singular shall include the plural and the masculine gender shall
include the feminine and neuter, unless the context otherwise requires.






    	 



    	 



    

9.24           
Amendment of the Plan; Prohibitions Against Option/SAR repricing.


(a)                
The Committee may, without further action by the shareholders and without receiving further
consideration from the Participants, amend this Plan or condition or modify awards under this Plan in response to changes in securities
or other laws or rules, regulations or regulatory interpretations thereof applicable to this Plan or to comply with stock exchange
rules or requirements.


(b)                
Subject to Section 409A, the Committee may at any time and from time to time terminate or
modify or amend the Plan in any respect, except that, without shareholder approval, the Committee may not:


(i)                  
materially increase the number of shares of Common Stock to be issued under the Plan (other
than pursuant to Sections 9.13 and 9.14);


(ii)                
materially increase benefits to Participants, including (A) reducing the exercise price or
base price of outstanding Options or SARs, (B) cancelling any previously granted Option or SAR in exchange for another Option or
SAR with a lower exercise price or base price, (C) cancelling any previously granted Option or SAR in exchange for cash or another
Award if the exercise price of such Option or the base price of such SAR exceeds the Fair Market Value of a share of Common Stock
on the date of such cancellation, (D) reducing the price at which Options may be offered, or (E) extending the duration of the
Plan; provided, however, that in the case of clauses (A), (B) and/or (C), other than adjustments made pursuant to Section 9.13,
and/or in connection with a corporate transaction including, without limitation, any stock dividend, stock split, extraordinary
cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares;


(iii)               
materially expand the class of Participants eligible to participate in the Plan; 


(iv)              
expand the types of Options or other awards provided under the Plan; and


(v)                
if shareholder approval is required by applicable law, rule or regulation, including Section
162(m) of the Code, and/or any rule of any stock exchange on which shares of Common Stock are traded.


(c)                
The termination or any modification or amendment of the Plan, except as provided in subsection
(a), shall not without the consent of a Participant, affect his or her rights under an Award previously granted to him or her.


9.25           
Binding Effect.


This Plan shall be legally binding upon
and shall operate for the benefit of the Company and its officers and Directors, and the Participants, and their respective heirs,
personal and legal representatives, transferees, successors and permitted assigns.


9.26           
Notices.


Each Participant and each beneficiary
shall be responsible for furnishing the Company with his or her current address (including email address) for the mailing of notices,
reports, and benefit payments; provided, however, that the Company may use the last address on file with it as a valid address.
Any notice required or permitted to be given to any such Participant or beneficiary shall be deemed given if directed to such address
and mailed by regular United States mail, first class, postage prepaid, or by overnight courier, or facsimile, or email. If any
check mailed to such address is returned as undeliverable to the addressee, mailing of checks will be suspended until the Participant
or beneficiary furnishes the proper address (and the Participant or beneficiary may incur additional taxes and penalties under
Section 409A). This provision shall not be construed as requiring the mailing of any notice or notification otherwise permitted
to be given by posting or by other publication. All notices or other communications required or permitted to be given by any Participant
or any beneficiary to the Company or the Committee shall be in writing and shall be deemed duly given if mailed by regular United
States mail, first class, postage prepaid, or by overnight courier, or facsimile, or email, addressed to any executive officer
of the Company (other than the Participant) at the address of the principal office of the Company.






    	 



    	 



    

9.27           
WAIVER OF JURY TRIAL.


THE COMPANY AND EACH PERSON WHO IS
A PARTICIPANT EXPRESSLY WAIVES ALL RIGHTS TO ANY TRIAL BY JURY IN ALL LITIGATION RELATING TO OR ARISING OUT OF THE SUBJECT MATTER
OF THIS PLAN.


9.28           
Section 409A.


To the extent applicable, the Company
intends that the Plan comply with Section 409A, and the Plan shall be construed in a manner to comply with Section 409A. Should
any provision be found not in compliance with Section 409A, Participants shall be contractually obligated to execute any and all
amendments to Awards deemed necessary and required by legal counsel for the Company to achieve compliance with Section 409A. By
acceptance of an Award, Participants irrevocably waive any objections they may have to the amendments required by Section 409A.
Participants also agree that in no event shall any payment required to be made pursuant to the Plan that is considered “nonqualified
deferred compensation” within the meaning of Section 409A be accelerated in violation of Section 409A. In the event a Participant
is a Specified Employee (as defined under Section 409A), and payments that are nonqualified deferred compensation cannot commence
until the lapse of six (6) months after a Separation from Service (as defined under Section 409A), then any such payments that
would be paid during such six (6) month period in a single lump sum shall be made on the date that is within the thirty (30) day
period commencing with the first day of the seventh month after the month of the Participant’s Separation from Service (provided
that if such thirty (30) day period begins in one (1) calendar year and ends in another calendar year, such payment shall be made
in the second of such two calendar years). Furthermore, the first six (6) months of any such payments of nonqualified deferred
compensation that would be paid in installments shall be paid within the thirty (30) day period commencing with the first day of
the seventh month following the month of the Participant’s Separation from Service (provided that if such thirty (30) day
period begins in one (1) calendar year and ends in another calendar year, such payment shall be made in the second of such two
calendar years). All remaining installment payments shall be made or provided as they would ordinarily have been under the provisions
of the Award. Notwithstanding any other provision of the Plan, the tax treatment of Awards under the Plan shall not be, and is
not, warranted or guaranteed. Neither the Company, any Affiliate, the Board, the Committee, nor any of their delegatees shall be
held liable for any taxes, penalties, or other monetary amounts owed by a Participant, his or her beneficiary, or other person
as a result of the grant, modification, or amendment of an Award or the adoption, modification, amendment, or administration of
the Plan.






    	 



    	 



    

9.29           
Deferrals. 


Except as otherwise provided in the Plan,
the Committee may permit or require, at the time an Award is granted, a Participant to defer receipt of the delivery of shares
of Common Stock, the payment of cash, or the provision of any other benefit that would otherwise be due pursuant to the exercise,
vesting, or earning of an Award. If any such deferral is required or permitted, the Committee shall, in its discretion, establish
rules and procedures in writing for such deferrals in accordance with Section 409A.


9.30           
Severability.


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


9.31           
Clawback, etc.


By entering into agreements pertaining
to Awards or otherwise participating in the Plan, each Participant acknowledges and agrees to the provisions of this Section 9.31,
and acknowledges and agrees that the provisions of this Section 9.31 may be applied, without liability to any Participant (or any
Participant’s beneficiary) by the Committee on a retroactive basis regardless of the Participant’s employment status
with the Company or its Affiliates at the time of such clawback or other action by the Committee. Notwithstanding anything contained
in the Plan to the contrary, the Committee, in order to comply with applicable law (including, without limitation, the Dodd-Frank
Wall Street Reform and Consumer Protection Act) and any risk management requirements and/or policies adopted by the Company, retains
the right at all times to decrease or terminate all Awards and payments under the Plan, and any and all amounts payable under the
Plan or paid under the Plan shall be subject to clawback, forfeiture, and reduction to the extent determined by the Committee as
necessary to comply with applicable law and/or policies adopted by the Company.


9.32           
Legislative and/or Regulatory Restrictions. 


Notwithstanding anything contained in
the Plan to the contrary, in the event any legislation, regulation, or formal or informal guidance requires any compensation payable
under the Plan (including, without limitation, any incentive-based compensation) to be deferred, reduced, eliminated, paid in a
different form or subjected to vesting or other restrictions, such compensation shall be deferred, reduced, eliminated, paid in
a different form or subjected to vesting or other restrictions as, and solely to the extent, required by such legislation, regulation,
or formal or informal guidance.


9.33           
Forfeiture Events. 


The Committee may specify in an agreement
pertaining to an Award 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 events, in addition to applicable vesting conditions
of an Award. Such events may include, without limitation, breach of non-competition, non-solicitation, confidentiality, or other
restrictive covenants that are contained in the Award agreement or otherwise applicable to the Participant, a termination of the
Participant’s service for cause, or other conduct by the Participant that is detrimental to the business or reputation of
the Company and/or its Affiliates.






    	 



    	 



    

9.34           
Section 16 Compliance. 


It is the intent of the Company that
the Plan satisfy, and be interpreted in a manner that satisfies, the applicable requirements of Rule 16b-3 as promulgated under
Section 16 of the Exchange Act so that Participants will be entitled to the benefit of Rule 16b-3, or any other rule promulgated
under Section 16 of the Exchange Act, or any successor statutes and rules, and will not be subject to short-swing liability under
Section 16 of the Exchange Act. Accordingly, if the operation of any provision of the Plan would conflict with the intent expressed
in this Section 9.34, such provision to the extent possible shall be interpreted and/or deemed amended so as to avoid such conflict,
and/or notwithstanding anything in the Plan to the contrary, the Committee, in its sole and absolute discretion, may bifurcate
the Plan so as to restrict, limit, or condition the use of any provision of the Plan to Participants who are officers or Directors
subject to Section 16 of the Exchange Act without so restricting, limiting, or conditioning the Plan with respect to other Participants.


9.35           
Section 162(m) of the Code.


To the extent the Committee issues any
Award that is intended to be exempt from the deduction limitation of Section 162(m) of the Code, the Committee may, without shareholder
or grantee approval, amend the Plan or the relevant Award agreement retroactively or prospectively to the extent it determines
necessary in order to comply with any subsequent clarification of Section 162(m) of the Code required to preserve the Company’s
Federal income tax deduction for compensation paid pursuant to any such Award.


9.36           
Beneficiary Designation.


Except as otherwise impermissible under
applicable law, a Participant shall have the right to designate a beneficiary or beneficiaries to whom any benefit, or settlement
of Awards, under the Plan is to be paid in case of the Participant’s death before the Participant receives any or all of
such benefit or settlement of Awards, and to amend or revoke such designation at any time in writing. Such designation, amendment
or revocation shall be effective upon receipt by the Committee. The Committee shall have sole discretion to approve and interpret
the form or forms of such beneficiary designation. If no beneficiary designation is made, or if the beneficiary designation is
held invalid, or if no beneficiary survives the Participant and benefits are determined to be payable following the Participant’s
death, the Committee shall direct that payment of benefits be made to the Participant’s estate.