Document:

Schedule of Terms for Stock Appreciation Rights awards

 Exhibit 10.3 
  
 United Technologies Corporation 
 Long
Term Incentive Plan 
  
 Stock Appreciation Right Award

  
 Schedule of Terms 
  
 Stock Appreciation Right Award 
  
 United Technologies Corporation (the “Corporation”) hereby awards to the recipient
Stock Appreciation Rights (an “Award”) pursuant to the United Technologies Corporation 2005 Long Term Incentive Plan (the “LTIP”). A Stock Appreciative Right Award is subject to this Schedule of Terms and the terms and provisions
of the LTIP. 
  
 A Stock Appreciation Right (a “SAR”) provides the Award
recipient with the right to the appreciation in the Common Stock of the Corporation (“Common Stock”) measured from the date of grant to the date of exercise. The value realized upon the exercise of a SAR will equal the difference between
the price at the time of exercise and the closing price of Common Stock reported on the composite tape of the New York Stock Exchange on the date of grant. The recipient will receive shares of Common Stock equal to the value of the SAR on the date
of exercise. The number of SARs awarded and the SAR grant price are set forth in the Statement of Award. The recipient must acknowledge and accept the terms and conditions of the SAR Award by signing and returning the designated portion of the
Statement of Award to the Stock Plan Administrator. 
  

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 Vesting 
  
 The vesting and expiration dates are each set forth in the Statement of Award. SARs may be exercised any time on or after the vesting date until the earlier of:

  

	(i)	The expiration date specified in the Statement of Award, at which time the SARs and all associated rights lapse; or 

  

	(ii)	For a period of time following termination of employment as specified in “Termination of Employment” (see below). 

  
 Exercise and Payment of SARs 
  
 While employed, SARs may be exercised any time on or after the vesting date until the
expiration date. Unexercised SARs will expire without value on the expiration date. It is the responsibility of the Award recipient, or a designated representative, to exercise SARs in a timely manner. The Corporation assumes no responsibility for
and will make no adjustments with respect to SARs that expire. 
  
 An award
recipient must establish an account with a security brokerage firm approved by the Corporation in order to exercise a SAR. SARs are exercised by submitting the appropriate form to the broker. Following exercise, the Corporation will deliver to the
brokerage firm the number of shares equal to the exercise gain, less the amount required for tax withholding. The shares equal to the net gain will then be delivered to the Award recipient’s account. At the Award recipient’s election,
these shares may either be held in the Award recipient’s account with the brokerage firm or sold on the open market with net cash proceeds delivered to the Award recipient by the designated broker. 
  
 Reportable taxable income will be based on the actual transaction price as reported by the
broker to the Stock Plan Administrator. 
  
 Termination of Employment

  
 If an Award recipient terminates employment for any reason other than
death, disability, retirement, or if the recipient meets the “Rule of 65” (see below), unvested SARs will be cancelled as of the termination date. Vested SARs may be exercised for a period of 90 calendar days following the termination date
(but not beyond the expiration date of the SAR). 
  
 Retirement. Retirement
eligibility includes: 
  

	(i)	Attainment of age 65 as of the employment termination date; or 

  

	(ii)	Attainment of at least age 55 with 10 or more years of service as of the employment termination date. 

  
 Upon retirement, the Award recipient may exercise vested SARs (i.e. those held for at least three years while continuously employed) for
three years following the date of retirement or until the expiration of the SAR, whichever is earlier. Unvested SARs that have been held for at least one year prior to the date of retirement will become exercisable as of the retirement date for a
three year period. 
  

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 However, if the Corporation consents to the Award recipient’s retirement, vested SARs (including those that vest by
reason of the recipient’s retirement) may be exercised until the expiration date of the SAR. Consent will be granted at the sole discretion of the Corporation based on its ability to effectively transition the Award recipient’s
responsibilities as of the retirement date and such other factors as it may deem appropriate. 
  
 Rule of 65: An Award recipient meets the “Rule of 65” if termination occurs on or after age 50, but before age 55, and the sum of the Award recipient’s age and years of service add up to 65 or
more as of the employment termination date. An Award recipient who meets the “Rule of 65” may exercise vested SARs for three years following the employment termination date or until the expiration of the SAR, whichever is earlier. Unvested
SARs that have been held for at least one year prior to the employment termination date will vest and become exercisable as of the termination date for a three year period. 
  
 In all cases, SARs held for less than one year prior to the retirement date or rule of 65 termination date will be cancelled without value.

  
 Service used to determine eligibility for retirement or the “Rule of
65” will be based on continuous service recognized under the Award recipient’s UTC retirement plan. 
  
 Disability. If employment terminates by reason of disability, vested SARs may be exercised for up to three years from the date of termination (or until the expiration of the SAR, if earlier). While disabled
under UTC’s disability plan, unvested SARs will vest as scheduled and become exercisable for three years thereafter. 
  
 Death. In the event of death the legal representative of the estate of the Award recipient may exercise all SARs outstanding as of the date of death, whether or
not vested, for a period of one year following the date of death, regardless of the expiration date of the SAR. 
  
 Transfer. In the event of transfer to a business affiliated with the Corporation, an Award recipient shall not be considered to have terminated employment for
purposes of a SAR Award. 
  
 Rehire. If a former employee is rehired before
the end of the 90 day period immediately following the date of termination, unexercised vested SARs and unvested SARs that were cancelled because of the termination of employment will be reinstated. SARs that received accelerated vesting at
termination will be subject to the original vesting schedule upon re-hire. If a terminated employee is rehired after the 90 day period immediately following the date of termination, the employee will be treated as a new employee and cancelled SARs
will not be reinstated. 
  
 Adjustments 
  
 If the Corporation effects a subdivision or consolidation of shares of Common Stock or other
capital adjustment, the number of SARs (and, if applicable, the exercise price) shall be adjusted in the same manner and to the same extent as shares of Common Stock of the Corporation. In the event of material changes in the capital structure of
the Corporation resulting from: the payment of a special dividend (other than regular quarterly dividends) or other distributions to shareowners without receiving consideration therefore; the spin-off of a subsidiary; the sale of a substantial
portion of the Corporation’s assets; in the event of a merger or consolidation in which the Corporation is not the surviving entity; or other extraordinary non-recurring events affecting the Corporation’s capital structure and the value of
Common Stock, equitable adjustments shall be made to the terms of outstanding awards, including the number of SARs outstanding, the value thereof, and such other adjustments as the Committee on 

  

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Compensation and Executive Development of the Corporation’s Board of Directors (the “Committee”), in its sole discretion, determines are
necessary or appropriate to prevent the dilution or enlargement of the rights of Award recipients. 
  
 Change of Control 
  
 In the event of a
change of control or restructuring of the Corporation, the Committee may, in its discretion, take certain actions with respect to outstanding Awards to assure fair and equitable treatment of LTIP participants. Such actions may include: acceleration
of the Vesting Date; offering to purchase an outstanding Award from the holder for its equivalent cash value (as determined by the Committee); or providing for other adjustments or modifications to outstanding Awards as the Committee may deem
appropriate. 
  
 For purposes of the LTIP, a “change of control” means:
(i) the acquisition of 20% of the Corporation’s outstanding voting shares by a person, entity or group (as defined in Section 13(d)(3) of the Securities Exchange Act of 1934); (ii) a change in the majority of the Board of
Directors such that the members of the new majority are not approved by two-thirds of the incumbent members; (iii) a merger, reorganization, or consolidation or similar transaction resulting in a business combination where shareowners before
the transaction own less then 50% of the new entity, or a person, entity or group owns 20% or more of the shares of the new entity; or (iv) a dissolution or liquidation of the Corporation. 
  
 Nonassignability 
  
 Unless otherwise prescribed by the Committee, no assignment or transfer of any right or interest of an Award recipient in any SAR, whether
voluntary or involuntary, by operation of law or otherwise, shall be permitted except by will or the laws of descent and distribution. Any attempt to assign such rights or interest shall be void and without force or effect. 
  
 Notices 
  
 Every notice or other communication relating to the LTIP, the Award or this Schedule of Terms shall be delivered electronically or mailed to
or delivered to the party for whom it is intended at such address as may from time to time be designated by such party. Notices by the Recipient to the Corporation shall be mailed to or delivered to the Corporation at its office at United
Technologies Building, MS504, Hartford, CT 06101, Attention: Stock Plan Administrator, or emailed to stockoptionplans@utc.com and all notices by the Corporation to the Recipient shall be transmitted to the Recipient’s email address or mailed to
his or her address as shown on the records of the Corporation. 
  
 Administration 
  
 Awards granted pursuant to the LTIP shall be
interpreted and administered by the Committee. The Committee shall establish such procedures as it deems necessary and appropriate to administer Awards in a manner that is consistent with the terms of the LTIP. 
  
 Pursuant to the terms of the LTIP, the Committee may delegate to employees of the Corporation
its authority and responsibility to grant, administer and interpret SAR Awards. Subject to certain limitations, the Committee has delegated to the Chief Executive Officer the authority to grant SAR Awards, and has further delegated the authority to
administer and interpret such Awards to the Senior Vice President, Human Resources and Organization, and to such subordinates as he or she may further delegate, except that Awards to employees of the Corporation who are either reporting persons
under Section 16 of 

  

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the Securities Exchange Act of 1934 (“Insiders”) or members of the Corporation’s Executive Leadership Group will be granted, administered, and
interpreted exclusively by the Committee and awards to non-employee directors will be granted, administered and interpreted exclusively by the Committee on Nominations and Governance. 
  
 Awards Not to Affect or Be Affected by Certain Transactions 
  
 SAR Awards shall not in any way affect the right or power of the Corporation or its shareowners to effect: (a) any or all adjustments,
recapitalizations, reorganizations or other changes in the Corporation’s capital structure or its business; (b) any merger or consolidation of the Corporation; (c) any issue of bonds, debentures, shares of stock preferred to, or
otherwise affecting the Common Stock of the Corporation or the rights of the holders of such Common Stock; (d) the dissolution or liquidation of the Corporation; (e) any sale or transfer of all or any part of its assets or business; or
(f) any other corporate act or proceeding. 
  
 Taxes/Withholding

  
 Award recipients are responsible for any income or other tax liability
attributable to any Award. The Corporation shall take such steps as are appropriate to assure compliance with applicable federal, state and local tax withholding requirements. The Corporation shall, to the extent required by law, have the right to
deduct directly from any payment or delivery of shares due to an Award recipient or from an Award recipient’s regular compensation, all federal, state and local taxes of any kind required by law to be withheld with respect to the exercise of
any SAR. Award recipients not based in the United States and foreign nationals who are not permanent residents of the United States must pay the appropriate taxes as required by any country where they are subject to tax. Further information on U.S.
Federal tax treatment of SARs is available in the LTIP prospectus. 
  
 Right of
Discharge Reserved 
  
 Nothing in the LTIP or in any SAR Award shall confer
upon any Award recipient the right to continue in the employment or service of the Corporation or any affiliate thereof for any period of time or affect any right that the Corporation or any subsidiary or division may have to terminate the
employment or service of such Award recipient at any time for any reason. 
  
 Forfeiture of Interests and Gains 
  
 SARs, whether or not
vested, shall be forfeited and an Award recipient will be obligated to repay gains realized from the exercise of SARs if the recipient is terminated for “cause” or if during the twelve month period following termination the recipient
solicits any employee of the Corporation for a position outside of the Corporation or publicly disparages the Corporation or otherwise makes statements materially detrimental to the interests of the Corporation. Termination for cause means criminal
conduct involving a felony in the U.S. or the equivalent of a felony under the laws of other countries, material violations of civil law related to the recipient’s job responsibilities, fraud, dishonesty, self-dealing, breach of the Award
recipient’s intellectual property agreement or willful misconduct that the Committee determines to be injurious to the Corporation. In the event of termination for cause, or if, following termination, the 

  

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Corporation determines that the recipient engaged in conduct that constituted the basis for termination for cause, or if the recipient engages in prohibited
disparagement or solicitation of employees following termination, the recipient shall be obligated to repay all gains realized from LTIP awards during the 12 month period preceding the earlier of the date of termination for cause, the date of the
relevant misconduct, or the date the misconduct is discovered, as applicable. 
  
 Nature of Payments 
  
 All Awards made pursuant to the LTIP are
in consideration of services performed for the Corporation or the business unit employing the Award recipient. Any gains realized pursuant to such Awards constitute a special incentive payment to the Award recipient and shall not be taken into
account as compensation for purposes of any of the employee benefit plans of the Corporation or any business unit. 
  
 Government Contract Compliance 
  
 The “UTC Policy Statement on Business Ethics and Conduct in Contracting with the United States Government” calls for compliance with the letter and spirit of
government contracting laws and regulations. In the event of a violation of government contracting laws or regulations, the Committee reserves the right to revoke any outstanding Award. 
  
 Interpretations 
  
 This Schedule of Terms and each Statement of Award are subject in all respects to the terms of the LTIP. In the event that any provision of this Schedule of Terms or any
Statement of Award is inconsistent with the terms of the LTIP, the terms of the LTIP shall govern. Any question of administration or interpretation arising under the Schedule of Terms or any Statement of Award shall be determined by the Committee or
its delegate, and such determination to be final and conclusive upon all parties in interest. 
  
 Governing Law 
  
 The LTIP, this Schedule
of Terms and the Statement of Award shall be governed by and construed in accordance with the laws of the State of Delaware. 
  
 United Technologies Corporation 
 United Technologies Building

 Hartford, CT 06101 
  

 6Leslie's Poolmart, Inc. 2005 Stock Option Plan

 Exhibit 4.3 
  
 LESLIE’S POOLMART, INC.  
 2005 STOCK OPTION PLAN 
  
 1. Background; Purpose. Leslie’s Poolmart, Inc., a Delaware corporation (the “Company”), hereby adopts the Leslie’s Poolmart, Inc. 2005 Stock Option Plan (the “Plan”). The purpose of the
Plan is to provide an incentive for key employees and consultants of the Company and its present and future subsidiaries (the “Subsidiaries”) (a) to remain in the service of the Company and its Subsidiaries, (b) to enhance
the long-term performance of the Company and its Subsidiaries, and (c) to acquire a proprietary interest in the Company and its Subsidiaries. 
  
 The Plan will provide a means whereby key employees and consultants of the Company and its Subsidiaries may purchase shares of common stock, par value
$.01 per share, of the Company (“Common Stock”) pursuant to awards of (i) Stock Options (as hereinafter defined) that are not intended to qualify as “incentive stock options” (as such term is defined in
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”)) or (ii) Stock Options that are intended to qualify as incentive stock options (“Incentive Stock Options”). 
  
 2. Administration. The Plan shall be administered by the Board of
Directors of the Company (the “Board”) or, in the discretion of the Board, a committee (the “Committee”), consisting of two or more directors of the Company to whom administration of the Plan has been duly delegated
by the Board. If the Committee is not the entire Board, the Committee shall be appointed by the Board. Except as otherwise provided in the Company’s bylaws, as amended from time to time, any action of the Board or the Committee, as applicable,
with respect to administration of the Plan shall be taken by a majority vote at a meeting at which a quorum is duly constituted or by unanimous written consent of the Board’s or the Committee’s members, as applicable. The Board or the
Committee, as applicable, may designate the Secretary of the Company or other Company employees to assist the Board or the Committee, as applicable, in the administration of the Plan, and may grant authority to such persons to execute agreements or
other documents evidencing Stock Options awarded under this Plan or other documents entered into under this Plan on behalf of the Board or the Committee, as applicable, or the Company. Each grant of options shall be evidenced by a written agreement
or other instrument as may be approved from time to time by the Board or the Committee, as applicable (a “Stock Option Agreement”). A Stock Option Agreement may be in the form of an agreement to be executed by both the Participant
(as hereinafter defined) and the Company (or an authorized representative of the Company) or certificates, notices or similar instruments as approved by the Board or the Committee, as applicable. 
  
 Subject to the provisions of the Plan, the Board or the Committee, as
applicable, shall have full, unconditional, sole and final discretion and authority (i) to construe and interpret the Plan and each Stock Option Agreement, (ii) to define the terms used herein and therein, (iii) to prescribe, amend
and rescind rules and regulations relating to the Plan, (iv) to make awards of options to purchase Common Stock (“Stock Options”) hereunder, (v) to determine the individuals to whom and the time or times at which awards of
Stock Options shall be made, the number of shares of Common Stock to be subject to such awards and the other terms of such Stock Options, including the vesting schedule, (vi) to determine the circumstances under which vesting or exercisability
of any Stock Option may be accelerated, terminated or converted, and to accelerate the vesting or exercisability of any Stock Option, (vii) to determine the exercise price; 

 provided, however, the exercise price shall not be less than the fair market value per share of Common Stock on the date
of the award as determined by the Board or the Committee, as applicable, (viii) to determine the duration of each Stock Option; provided, however, the duration shall not be more than ten (10) years, (ix) to approve and determine the
duration of leaves of absence which may be granted to Participants without constituting a termination of their employment or continuous service for the purposes of the Plan or a Stock Option Agreement, (x) to amend the terms of any outstanding
Stock Option with consent of the holder (or as otherwise provided in this Plan), (xi) to interpret and construe this Plan and the terms and conditions of any Stock Option granted hereunder, and to make exceptions to any such provisions in good
faith and for the benefit of the Company and (xii) to make all other determinations necessary or advisable for the administration of the Plan. All determinations and interpretations made by the Board or the Committee, as applicable, shall be
binding and conclusive on all Participants in the Plan and their legal representatives and beneficiaries. 
  
 3. Shares Subject to the Plan. 
  
 (a) Number of Shares. The shares to be sold upon the exercise of Stock Options awarded under this Plan shall consist of the Company’s
authorized but unissued Common Stock. Subject to adjustment as provided in Section 6 hereof, the aggregate number of shares of Common Stock which may be issued upon the exercise of Stock Options awarded to Participants pursuant to
Section 5 below shall equal 1,300,000. For purposes of this Section 3(a), the aggregate number of shares of Common Stock issued under this Plan at any time shall equal only the number of shares actually issued upon exercise of a Stock
Option. Shares of Common Stock (i) subject to Stock Options that are canceled, expired or forfeited or (ii) that are delivered or deemed delivered to the Company in payment or satisfaction of the exercise price or tax withholding
obligation of a Stock Option will again be available for issuance pursuant to Stock Option granted under the Plan. Notwithstanding anything herein to the contrary, the aggregate number of shares of Common Stock that may be issued pursuant to the
exercise of Incentive Stock Options granted under this Plan shall not exceed 1,300,000, which number shall be adjusted pursuant to Section 6 only to the extent that such adjustment will not affect the status of any option intended to qualify as
an Incentive Stock Option under Section 422 of the Code. In addition, the aggregate number of Common Shares subject to Stock Options granted under this Plan during any calendar year to any one Participant shall not exceed 700,000, which number
shall adjusted pursuant to Section 6 only to the extent that such adjustment will not affect the status of any Stock Option intended to qualify as “performance based compensation” under Section 162(m) of the Code. The shares of
outstanding Common Stock which may be sold pursuant hereto upon the exercise of Stock Options awarded to Participants are referred to herein as “Option Shares”. A holder of Option Shares shall be entitled to all rights (including
voting and dividend rights) of a holder of Common Stock of the Company. The recipients of awards of Stock Options hereunder shall, upon the exercise of any such Stock Options, be deemed to have become a party to the Stockholders Agreement (attached
hereto as Exhibit A), dated as of January 25, 2005, among the Company, certain of its stockholders, as amended from time to time as Management Stockholders (as such term is defined therein) (the “Stockholders
Agreement”). 
  
 (b) Vesting. Subject to the
provisions of this Plan, the Option Shares subject to Stock Options shall vest and become exercisable with respect to such Stock Option in such 
  

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 installments as determined by the Board or the Committee, as applicable, and set forth in a Stock Option Agreement.
Notwithstanding anything in the Plan or any Stock Option Agreement to the contrary, the Board or the Committee, as applicable, may, at any time, accelerate the vesting with respect to any Stock Option (or portion thereof) granted under the Plan
without the consent of the affected holder of such Stock Option. 
  
 4. Eligibility and Participation. All key employees and consultants of the Company and its Subsidiaries shall be eligible for selection to participate in the Plan (each, a “Participant”); provided, however, that
Stock Options intending to qualify as Incentive Stock Options may only be granted to employees of the Company. 
  
 5. Awards. A Participant may receive one or more awards hereunder, from time to time, as determined by the Board or the Committee, as applicable.
Awards shall either be in the form of Stock Options that are intended to qualify as Incentive Stock Options or Stock Options that are not intended to so qualify, in each case, as determined by the Board of the Committee, as applicable. All awards of
Stock Options shall be pursuant to, and shall be subject to the terms and restrictions provided in, a Stock Option Agreement. Subject to Section 10 hereof, the date on which Stock Options become exercisable shall be determined at the sole
discretion of the Board or the Committee, as applicable, and set forth in a Stock Option Agreement. Stock Options shall not be transferable by a Participant either voluntarily or by operation of law, other than by will, by the laws of descent and
distribution, pursuant to a written beneficiary designation previously presented to and accepted by the Board or the Committee, as applicable, or, with the consent of the Board or the Committee, as applicable, to a trustee of a revocable intervivos
trust established by the Participant for the benefit of the Participant during his or her lifetime, and shall be exercisable during the Participant’s lifetime only by the Participant or by his or her guardian or legal representative.

  
 (a) Incentive Stock Options. Notwithstanding anything
to the contrary in this Section 5, in the case of the grant of a Stock Option intending to qualify as an Incentive Stock Option, if the Participant owns stock possessing more than 10 percent of the combined voting power of all classes of stock
of the Company (a “10% Shareholder”), the exercise price of such Option must be at least 110 percent of the fair market value per share of Common Stock on the date of grant and the Stock Option must expire within a period of not
more than five (5) years from the date of grant. In addition, Stock Options designated as Incentive Stock Options shall not be eligible for treatment under the Code as Incentive Stock Options to the extent that either (i) the aggregate
fair market value of Option Shares (determined as of the time of grant) with respect to which such Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company) exceeds $100,000, taking
Stock Options into account in the order in which they were granted, or (b) such Stock Options otherwise remain exercisable but are not exercised within three (3) months of the termination of Participant’s employment with the Company
(or such other period of time provided in Section 422 of the Code). 
  
 6. Adjustments. In the event of any one or more reorganizations, recapitalizations, mergers, consolidations, combinations, spin-offs, sales, exchanges, dispositions of all or substantially all of the
Company’s assets, stock splits, reverse stock splits, stock dividends, extraordinary dividends or distributions, or similar events or transactions (each a 
  

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 “Transaction”), the Board or the Committee, as applicable, may, in its sole discretion, make an
appropriate and proportionate adjustment to the exercise price, maximum number and kind of shares which may be subject to Stock Options under this Plan and to the exercise price, number and kind of shares which are subject to outstanding Stock
Options. In addition, in the event of a Transaction, the Board or the Committee, as applicable, may provide for the repurchase, replacement or assumption of outstanding Stock Option or the termination of outstanding Stock Options upon the
consummation of such Transaction, so long as the Participants have the right to exercise vested rights (or receive the Transaction consideration they would have received had they exercised such vested rights) under any outstanding Stock Options
immediately prior to such termination. Notwithstanding anything to the contrary herein, any adjustment to Stock Options intended to qualify as Incentive Stock Options shall comply with the requirements, provisions and restrictions of the Code. Any
and all adjustments under this Section 6 shall be made by the Board or the Committee, as applicable, whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. 
  
 7. Withholding Tax. The Company shall have the right to take whatever
steps the Board or the Committee, as applicable, deems necessary or appropriate to comply with all applicable federal, state, local, and employment tax withholding requirements, and the Company’s obligations to deliver shares upon the exercise
of Stock Options under this Plan shall be conditioned upon compliance with all such withholding tax requirements. Without limiting the generality of the foregoing, upon the exercise of a Stock Option, the Company shall have the right to withhold
taxes from any other compensation or other amounts which it may owe to the Participant or to require such Participant to pay to the Company the amount of any taxes which the Company may be required to withhold with respect to such exercise. The
Board or the Committee, as applicable, in its discretion may, subject to compliance with applicable law and the Company’s contractual obligations, including without limitation, obligations under any debt agreements to which the Company is a
party, authorize a Participant to satisfy all or part of any withholding tax liability by (A) having the Company deduct from the shares which would otherwise be issued on the exercise of a Stock Option that number of shares having a fair market
value as of the date the withholding tax liability arises equal to or less than the amount of the withholding tax liability, or (B) by delivering to the Company previously-owned and unencumbered shares of the Common Stock of the Company having
a fair market value as of the date the withholding tax liability arises equal to or less than the amount of the withholding tax liability. 
  
 8. Amendment and Termination of Plan; Stock Option Agreements. The Board or the Committee, as applicable, may at any time suspend or terminate the
Plan. The Board or the Committee, as applicable, may also at any time amend or revise the terms of the Plan; provided that no such amendment or revision shall, unless stockholder approval of such amendment or revision is obtained, increase the
maximum number of Option Shares, except as permitted under the provisions of Section 6, or permit the granting of Stock Options to anyone other than as provided in Section 4, or otherwise materially increase the benefits accruing to
Participants under the Plan. The Board or the Committee, as applicable, shall also have the sole discretion, authority and power to amend and alter the terms and conditions of any Stock Option Agreement. 
  

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 Notwithstanding the foregoing, no amendment, suspension or termination of the Plan or amendment,
prescription or alteration of any outstanding Stock Option Agreement that would, in either case, materially adversely affect any rights or obligations of any Participant under any Stock Option Agreement shall be effective as to such Participant
unless there shall have been specific action of the Board or the Committee, as applicable, and written consent of the Participant; provided, however, that the Board or the Committee, as applicable, may unilaterally amend this Plan or
any Stock Option Agreement, without the consent of the Participant, if such amendment is necessary or desirable to comply with the Securities Act, state blue sky laws, or applicable requirements of any principal securities exchange or market on
which shares of the same class of securities are listed or traded. 
  
 9. No Employment Rights. The selection of any person to receive an award under the Plan shall not give such person any right to be retained in the employment of, or to continue to render services to, the Company or any of its
Subsidiaries or any of their affiliates and the right and the power of the Company or its Subsidiaries to discharge or terminate its relationship with any such person shall not be affected by such award. Neither an award nor any benefits arising
under this Plan shall constitute an employment contract with the Company and/or its affiliates. No person shall have any right or claim whatever, directly, indirectly or by implication, to receive an award, nor any expectancy thereof, unless and
until an award in fact shall have been made to such person by the Board or the Committee, as applicable, as provided herein. The award to any person hereunder at any time shall not create any right or implication that any other or further award may
or shall be made at another time. Each award hereunder shall be separate and distinct from every other award and shall not be construed as a part of any continuing series of awards or compensation. 
  
 10. Compliance with Other Laws and Regulations. This Plan, the grant
and exercise of Stock Options hereunder, and the obligation of the Company to sell, issue or deliver shares of Common Stock, shall be subject to all applicable federal, state and foreign laws, rules and regulations and to such approvals by any
governmental or regulatory agency as may be required. The Company shall not be required to register in a Participant’s name or deliver any shares of Common Stock prior to the completion of any registration or qualification of such shares of
Common Stock under any federal, state or foreign law or any ruling or regulation of any government body which the Board or the Committee, as applicable, shall determine to be necessary or advisable. 
  
 No Stock Option shall be exercisable unless a registration statement with
respect to the Stock Option is effective or the Company has determined that such registration is unnecessary. Unless the Stock Options and the shares of Common Stock covered by this Plan have been registered under the Securities Act or the Company
has determined that such registration is unnecessary, each person receiving a Stock Options and/or Option Shares may be required by the Company to give a representation in writing that such person is acquiring such shares for his or her own account
for investment and not with a view to, or for sale in connection with, the distribution of any part thereof. 
  
 Regardless of whether the offer and sale of Option Shares under the Plan have been registered under the Securities Act or have been registered or
qualified under the securities laws of any state, the Company may impose restrictions upon the sale, pledge or other transfer of such 
  

 5 

 Option Shares (including the placement of appropriate legends on stock certificates) if, in the judgment of the Company
and its counsel, such restrictions are necessary or desirable in order to achieve compliance with the provisions of the Securities Act, the securities laws of any state or any other law. 
  
 Any good faith and reasonable determination by the Company and its counsel in connection with any of the matters set forth
in this Section 10 shall be conclusive and binding on all persons. 
  
 11. Plan Not Exclusive. The Plan is not exclusive. The Company may have other plans, programs and arrangements for compensation or the issuance of shares of capital stock or options relating thereto. The Plan does not require that
Participants hereunder be precluded from participation in such other plans, programs and arrangements. 
  
 12. Effective Date and Term. This Plan shall be effective when it has been adopted by the Board, provided that it is approved by the holders of the
outstanding voting stock of the Company within 12 months thereafter. Prior to such approval, Stock Options may be granted but shall not be exercisable. Except as otherwise provided herein, any amendment to this Plan shall be subject to approval by
the Company’s stockholders. The term of this Plan shall commence on the date of its adoption by the Board and shall expire on the tenth (10th) anniversary of such date, unless earlier terminated. 
  
 13. No Liability of Company. The Company and its Subsidiaries and
affiliates which are in existence or hereafter comes into existence will not be liable to a Participant or any other person as to: (i) the non-issuance or sale of Option Shares as to which the Company has been unable to obtain from any
regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares hereunder; and (ii) any tax consequence expected, but not realized, by any Participant or other
person due to the receipt, exercise or settlement of any Stock Option granted hereunder. 
  
 14. Governing Law. This Plan and any agreements or other documents hereunder shall be interpreted and construed in accordance with the laws of the Delaware and applicable federal law. Any reference in this Plan
or in the agreement or other document evidencing any Stock Option to a provision of law or to a rule or regulation shall be deemed to include any successor law, rule or regulation of similar effect or applicability. 
  
 15. Unfunded Plan. The Plan is intended to be an unfunded plan.
Participants are and shall at all times be general creditors of the Company with respect to their Stock Options. If the Board or the Committee, as applicable, or the Company chooses to set aside funds in a trust or otherwise for the payment of Stock
Options under the Plan, such funds shall at all times be subject to the claims of the creditors of the Company in the event of its bankruptcy or insolvency. 
  

 6

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