Document:

Lawton Marketplace PSA - Exhibit 10.11

Exhibit 10.11

PURCHASE AND SALE AGREEMENT
(WITH ESCROW INSTRUCTIONS)
    
This Purchase and Sale Agreement (this "Agreement") is entered into effective as of September 22, 2014 (the "Effective Date") by LAWTON MARKETPLACE INVESTORS LP, a Texas limited partnership, as Seller ("Seller"), and ARCP AQUISITIONS, LLC, a Delaware limited liability company, as Buyer ("Buyer").
RECITALS
A.  Buyer desires to purchase the Property (as defined below) from Seller and Seller desires to sell the Property to Buyer, all as more particularly set forth in this Agreement.  The Property is leased to various tenants (the “Tenants”) pursuant to the written leases (including any amendments or supplements and any guaranties, security deposits, prepaid rent, or other security relating thereto, the “Leases”) as described on the Rent Roll attached as Schedule 2 to this Agreement (the “Rent Roll”).  
B.  In consideration of the mutual covenants and undertakings set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer (each, a "Party" and, collectively, the "Parties") agree as follows:
SUMMARY OF TERMS
Certain key terms of this Agreement are summarized below, but remain subject to the applicable detailed provisions set forth elsewhere in this Agreement.
		
	Property:
	Fee title to certain real property commonly known as Lawton Marketplace located at 1920 NW 82nd Street, Lawton, Oklahoma 73505, as legally described on Exhibit A attached hereto (the "Land"), together with the buildings thereon containing approximately 179,183 square feet (the "Buildings") and including the related property and rights described in this Agreement.

Purchase Price:    $33,700,000.00 (the "Purchase Price").
		
	Deposit:
	$640,000 (such amount, together with all interest earned or accrued thereon, the "Deposit").

		
	Study Period:
	Thirty (30) days. 

		
	Closing Date:
	Ten (10) days after expiration of the Study Period.

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Exhibit 10.11

		
	Escrow Agent:
	First American Title Insurance Company, National Commercial Services ("Escrow Agent")

2425 E. Camelback Road, Suite 300 
Phoenix, Arizona 85016 
Attention:  Brandon Grajewski
Tel:  (602) 567-8145
Email:  bgrajewski@firstam.com

Notices Addresses for the Parties:

		
	If to Seller:  
	Lawton Marketplace Investors LP

c/o Hunt Properties, Inc.
8235 Douglas Avenue, Suite 1300
Dallas, Texas 75225
Attn: Jeff Williams
Tel: (214) 706-3245
Email: jeff@huntprop.com

		
	with a copy to:  
	Glast, Phillips & Murray, P.C.

14801 Quorum Drive, Suite 500
Dallas, Texas 75254
Attn: Erika Bruce
Tel: (972) 419-7146
Email: ebruce@gpm-law.com 

If to Buyer:    ARCP Aquisitions, LLC
c/o American Realty Capital Properties, Inc.
2325 E. Camelback Road, Suite 1100
Phoenix, AZ  85016
Attn:  H. Curtis Keller
Tel:  (602) 778-6280
Fax:  (480) 449-7012
Email:  ckeller@arcpreit.com

with a copy to:    ARCP Aquisitions, LLC
c/o American Realty Capital Properties, Inc.
2325 E. Camelback Road, Suite 1100
Phoenix, AZ  85016
Attn:  Susan K. Martinez
Tel:  (602) 778-6444
Email:  smartinez@arcpreit.com

		
	Notice Provisions:
	See Section 22.

Seller’s Diligence Contact for scheduling physical inspections of the Property:

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Name:    Jeff Williams, 
Tel:    214-706-3245
 
Email:    jeff@huntprop.com

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1.PURCHASE AND SALE OF PROPERTY.  Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, the Property upon and subject to the terms and conditions of this Agreement.  As used in this Agreement: 
(a)"Real Property" means and includes (i) the Land, the Buildings, and all other buildings, improvements, building systems and fixtures located upon the Land owned by Seller; (ii) all tenements, easements and appurtenances pertaining to the Land or the Buildings; and (iii) all mineral, water, irrigation and other property rights of Seller, if any, running with or otherwise pertaining to the Land; and
(b)"Property" means and includes (i) the Real Property; (ii) the Leases; (iii) all of Seller's interest, if any and without warranty, in and to any equipment, machinery, furniture, furnishings and other tangible personal property located upon or used in connection with the Real Property (the "Personalty"); and (iv) to the extent assignable, all of Seller's interest, if any and without warranty, in and to the following affecting or relating to the Property: (1) all warranties and guaranties (the "Warranties"); (2) all development rights, utility capacities, approvals, permits and licenses (the "Permits"); (3) all surveys, engineering reports, environmental reports, plans, drawings, specifications, construction contracts, subcontracts, architectural and engineering agreements, and similar documents and agreements relating to the design, development, construction, maintenance or repair of the Property (the "Property Documents"); and (4) all contractual rights, trade names, trademarks, intellectual property and other intangibles (the "Intangibles").  
2.PURCHASE PRICE.  The Purchase Price will be paid by Buyer as follows, in cash or other immediately available funds:
(a)    the Deposit will be deposited in escrow with Escrow Agent not later than three (3) business days following the receipt by Escrow Agent of a fully-executed original of this Agreement; and 
(b)    the balance of the Purchase Price, as may be increased or decreased to account for any prorations, credits, or other adjustments required by this Agreement, will be deposited in escrow with Escrow Agent on or before the close of escrow (the "Closing").
The "Opening of Escrow" means the receipt, countersignature and distribution by Escrow Agent of a fully-executed original of this Agreement, together with the receipt by Escrow Agent of the Deposit.  Seller and Buyer agree to the escrow instructions attached hereto as Exhibit F and incorporated herein (the "Escrow Instructions").  
3.DISPOSITION OF DEPOSIT.  Seller and Buyer instruct Escrow Agent to place the Deposit in a federally insured interest-bearing account.  The Deposit will be applied as follows: 

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(a) if Buyer terminates this Agreement in any situation where Buyer is permitted or deemed to do so under this Agreement (including without limitation any failure of a condition precedent under Section 13 below), the Deposit will be paid immediately to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement, except with respect to any obligations which are expressly stated in this Agreement to survive a termination prior to Closing (the "Surviving Obligations"); (b) if Seller terminates this Agreement in any situation where Seller is permitted or deemed to do so under this Agreement (including without limitation an uncured default by Buyer as provided in Section 21(b) below), the Deposit will be paid to Seller; and (c) if escrow closes, the Deposit will be credited to Buyer, applied against the Purchase Price and paid to Seller at Closing.  
4.DELIVERY OF SELLER'S DILIGENCE MATERIALS.  Seller will deliver to Buyer, not later than five (5) business days after the Effective Date and at no cost to Buyer, to the extent in Seller’s possession or control, all materials and information described on Schedule 1 attached to this Agreement (collectively, “Seller’s Diligence Materials”).  If Seller obtains new or updated information regarding the Property prior to Closing, Seller will immediately notify Buyer of such fact and will promptly deliver all such supplemental information to Buyer.  Seller designates the contact person(s) so named in the Summary of Terms above as the representative of Seller through which Buyer may schedule any physical inspections of the Property (“Seller’s Diligence Contact”).
Buyer acknowledges that, except as expressly set forth in this Agreement, neither Seller nor Seller's agents, representatives, or property manager has made nor makes any warranty or representation regarding the truth, accuracy or completeness of Seller's Diligence Materials or other items furnished by Seller or on Seller's behalf and the source(s) thereof.  Buyer further acknowledges that some if not all of Seller's Diligence Materials were prepared by third parties other than Seller, Seller's agents, representatives and property manager.  Seller and its property manager expressly disclaim any and all liability for representations or warranties, express or implied, statements of fact and other matters contained in such information, or for omissions from Seller's Diligence Materials.
5.BUYER'S STUDY PERIOD.  
(a)Buyer will have until 11:59 p.m. Mountain Standard Time (MST) on the thirtieth (30th) day after the Effective Date (such period, the "Study Period"), within which to conduct and approve any investigations, studies or tests desired by Buyer, in Buyer's sole discretion, to determine the feasibility of acquiring the Property (collectively, "Buyer's Diligence").  Upon written request by a Party, the Parties will confirm the expiration of the Study Period.  Buyer will not conduct any invasive testing without Seller's prior written approval.
Buyer acknowledges that Seller's Diligence Materials have been or will be delivered to Buyer solely to assist Buyer in determining the feasibility of purchasing the Property.  Buyer shall 

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not use Seller's Diligence Materials for any purpose other than in performing Buyer's Diligence.  Buyer shall not disclose the contents of Seller's Diligence Materials or Buyer's Diligence to any person other than to those persons who are responsible for assisting Buyer with determining the feasibility of Buyer's acquisition of the Property and who have agreed to preserve the confidentiality of such information as required hereby (collectively, "Permitted Outside Parties"); provided, however, Buyer shall disclose only such information to a particular Permitted Outside Party as is reasonably necessary for that Permitted Outside Party to perform its role in assisting Buyer to determine the feasibility of its acquisition of the Property, and nothing more.  Buyer shall not divulge the contents of the Seller's Diligence Materials or Buyer's Diligence except in strict accordance with the confidentiality standards set forth in this paragraph.  In permitting Buyer to review Seller's Diligence Materials or any other information, Seller has not waived any privilege or claim of confidentiality with respect thereto, and no third party benefits or relationships of any kind, either express or implied, have been offered, intended or created.
(b)Seller grants to Buyer and Buyer's agents, employees and contractors the right to enter upon the Property, at any time or times prior to Closing, to conduct Buyer's Diligence.  Buyer will notify Seller prior to any entry and will not cause a violation of the Leases or unreasonably interfere with or disrupt Tenants’ business operations at the Property.  Buyer will indemnify, defend and hold Seller, its agents, contractors and representatives harmless from and against any damage, injury, claim or lien caused by the activities of Buyer or its agents on the Property, except that Buyer will have no obligation to indemnify Seller as a result of the discovery or presence of any pre-existing conditions, including any hazardous materials.  Buyer will also maintain commercial general liability insurance with limits of at least $1,000,000 per occurrence and $2,000,000 aggregate and workers compensation insurance and will provide a certificate of insurance evidencing the same to Seller upon request, which insurance shall name Seller as additional insured thereunder.  The foregoing indemnity and insurance obligations of Buyer shall survive any termination of this Agreement.
(c)If, at any time prior to the expiration of the Study Period, Buyer elects in its sole discretion not to proceed to acquire the Property, Buyer may terminate this Agreement by giving written notice of termination to Seller and Escrow Agent.  Buyer shall have the right to provide written notice to Seller and Escrow Agent expressly waiving this contingency at any time prior to the end of the Study Period.  Unless Buyer has given written notice to Seller and Escrow Agent expressly stating that Buyer elects to waive this contingency and proceed with the acquisition of the Property, then upon the expiration of the Study Period Buyer shall be deemed to have terminated this Agreement.  Upon any termination or deemed termination pursuant to this Section 5(c), Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, the Deposit will immediately be paid by Escrow Agent to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations.  If this Agreement is not so terminated, then except as otherwise provided in this Agreement the Deposit will become non-refundable to Buyer, and this Agreement will continue in full force and effect.

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(d)The Parties expressly agree that the mutual agreements, covenants, obligations and undertakings set forth in this Agreement constitute sufficient consideration for each Party to create a legally binding agreement notwithstanding that Buyer may freely terminate this Agreement and receive a return of the Deposit at any time prior to the end of the Study Period.
(e)Following any volitional termination by Buyer of this Agreement (but excluding any termination by Buyer pursuant to Section 21(a) following an uncured default by Seller), as one of the Surviving Obligations hereunder Buyer will provide to Seller, upon Seller's written request and reimbursement to Buyer of one-half of the respective cost thereof, not later than ten (10) days following such termination, a copy of any of the diligence reports and the Survey obtained by Buyer from unrelated third parties ("Third-Party Reports") in connection with Buyer's Diligence.  Any such Third-Party Reports will be provided strictly in their as-is condition and Buyer expressly disclaims any and all representations or warranties, express or implied, and liability with regard to such Third-Party Reports or any errors, omissions, inaccuracies, or other matters contained in such Third-Party Reports.
6.TITLE AND SURVEY REVIEW.  
(a)Promptly after the Effective Date, Escrow Agent will deliver to Buyer and Seller a current title commitment (as may be updated, the "Commitment") for the issuance to Buyer of an ALTA extended coverage owner's policy of title insurance on the Property (the "Owner's Policy"), together with copies of all requirement and exception documents referenced in such Commitment.  
(b)Promptly after the Effective Date, Buyer will cause a licensed surveyor to complete and deliver to Escrow Agent, Seller and Buyer a current, certified ALTA As-Built survey of the Property (the "Survey").  Buyer will order the Survey within three (3) days following the Effective Date.
(c)Buyer will, by giving written notice (the "Title Notice") to Seller and Escrow Agent at least seven (7) days prior to the expiration of the Study Period (the "Title Objection Period"), either (i) approve the condition of title, or (ii) identify any matters set forth in the Commitment or the Survey to which Buyer objects (collectively, the "Objectionable Matters").  If no Title Notice is given by Buyer to Seller on or before the Title Objection Period, then Buyer shall be deemed to have disapproved of the condition of title and elected to terminate this Agreement.  Upon any termination pursuant to this Section 6(c), Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, the Deposit will immediately be paid by Escrow Agent to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations.
(d)If Buyer delivers the Title Notice to Seller on or before the Title Objection Period which identifies any Objectionable Matters, Seller will notify Buyer in writing ("Seller's Title 

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Response") within five (5) days after receiving the Title Notice whether Seller will cure those Objectionable Matters prior to the Closing Date in the manner requested by Buyer.  Seller's failure to give Buyer a Seller's Title Response by such date shall be deemed as Seller's election not to cure the Objectionable Matters prior to the Closing Date in the manner requested by Buyer.  If Seller does not agree to cure all the Objectionable Matters or fails to give Buyer a Seller's Title Response, then Buyer may elect, by giving written notice to Seller and Escrow Agent within five (5) days after receiving Seller's Title Response, but in no event after the expiration of the Study Period (except for new exceptions or requirements described in Section 6(e) below), to either (i) proceed with the acquisition of the Property notwithstanding the Objectionable Matters which Seller has not agreed to cure, or (ii) to terminate this Agreement and receive a return of the Deposit as provided in Section 6(c), whereupon Buyer shall return all hard copies and delete all electronic copies of Seller's Diligence Materials.
(e)If the Commitment is amended to include new exceptions or requirements after Buyer's delivery of the Title Notice, Buyer will have five (5) days after Buyer's receipt of the amended Commitment (and copies of any documents identified in the new exceptions or new requirements) within which to review and, if desired, object in writing to such new matters as Objectionable Matters.  If Buyer so objects, the procedures and timelines set forth above will apply to govern any such objection, Seller's response thereto and Buyer's rights thereafter.
(f)Notwithstanding the foregoing, in all events Seller will, at or prior to Closing, (i) pay in full and cause to be canceled and discharged (or otherwise cause Escrow Agent to insure over) all mechanics' and contractors' liens encumbering the Property as a result of work performed by or on behalf of Seller; (ii) pay in full all past due ad valorem taxes and assessments of any kind constituting a lien against the Property; and (iii) cause to be released all loan security documents which encumber the Property and any other monetary lien or encumbrance caused or created by Seller against the Property.
7.Tenant Right of First Refusal.  The Parties agree that Buyer will be incurring expenses related to Buyer’s Diligence, despite the fact that one or more of the Leases may contain a right of first refusal or right of first offer in favor of the applicable Tenant thereunder (either such right, a “ROFR”).  If any of the Leases contains a ROFR and the applicable Tenant delivers notice of its intent to exercise its ROFR or actually exercises its ROFR, then Buyer may, at Buyer’s option, terminate this Agreement prior to the end of the Study Period by written notice to Seller, in which event Buyer will immediately be paid the Deposit, and this Agreement shall be deemed terminated.  If only part of the Property is subject to the exercised ROFR(s) and such portion(s) can be separately conveyed, then Buyer may elect prior to the end of the Study Period upon written notice to Seller, at Buyer’s option, to instead purchase only the remaining Property, in which event the Parties will promptly amend this Agreement to apply only to the remaining Property and Leases and reduce the Purchase Price by the capitalized value of the excluded Property and Leases.  Absent any such 

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exercise by a Tenant, Seller will provide to Buyer and Escrow Agent a written waiver by each applicable Tenant of such Tenant’s ROFR rights prior to the end of the Study Period.  Such waivers will be requested by Seller from all applicable Tenants within two (2) business days after the Effective Date.
8.CLOSE OF ESCROW.  The Closing will occur on or before 5:00 p.m. MST on the tenth (10th) day after the expiration of the Study Period or on such earlier date as Buyer and Seller may mutually agree (the "Closing Date").  At Closing, the funds and documents deposited into escrow will be appropriately disbursed and distributed by Escrow Agent, and Seller will deliver possession of the Property to Buyer, all as required by and specified under this Agreement.
9.THE TRANSFER DOCUMENTS.
(a)The Real Property will be conveyed by a special warranty deed in substantially the form attached hereto as Exhibit B (the "Deed").  The Personalty will be conveyed by a bill of sale in substantially the form attached as Exhibit C (the "Bill of Sale").  The Leases will be assigned by an assignment and assumption of lease in substantially the form attached as Exhibit D (the "Assignment of Leases").  The Permits, Warranties, Property Documents and Intangibles will be assigned by an assignment agreement in substantially the form attached as Exhibit E (the "Assignment Agreement").  The Parties will supplement the foregoing with such additional documents, if any, as may reasonably be required to properly convey specific items of the Property.  Buyer will be responsible for any third-party costs and expenses charged by the counterparty of the item being assigned which are associated with causing any Permits, Warranties, Property Documents and Intangibles to be assigned under the Assignment Agreement, but only to the extent that (i) such charge is disclosed to Buyer by Seller not later than three (3) business days prior to the end of the Study Period, and (ii) Buyer does not elect, by notice given to Seller prior to the end of the Study Period, to decline the assignment of such item.  Seller will also deliver an updated copy of the Rent Roll, certified by Seller to be (to Seller’s knowledge) complete and accurate as of the Closing Date.  The Deed, Bill of Sale, Assignment of Leases, Assignment Agreement, certified Rent Roll and the other closing documents required under this Agreement or otherwise delivered by the Parties at Closing are collectively referred to as the "Transfer Documents".  Seller and Buyer will deposit duly executed and (as appropriate) acknowledged originals of each of the Transfer Documents with Escrow Agent not later than one (1) business day prior to the Closing Date.
(b)If Seller holds any transferable contracts or agreements relating to the upkeep, repair, maintenance, management or operation of the Property ("Operating Contracts"), Seller will provide copies thereof to Buyer as a part of Seller's Diligence Materials.  Buyer may elect, by written notice given to Seller prior to the end of the Study Period, to take an assignment of any or all of the Operating Contracts.  If Buyer so elects, the Parties will execute and include in the Transfer Documents an assignment agreement appropriate to effect such assignment, and any payments due 

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under the assigned Operating Contracts will be equitably prorated as of the Closing Date.  Buyer will be responsible for any third-party costs and expenses charged by the counterparty of the item being assigned which are associated with causing any such Operating Contracts to be so assigned, but only to the extent that (i) such charge is disclosed to Buyer by Seller not later than three (3) business days prior to the end of the Study Period, and (ii) Buyer does not elect, by notice given to Seller prior to the end of the Study Period, to decline the assignment of such item.  Seller will provide notice of termination on the Closing Date of any Operating Contracts which Buyer does not elect to take assignment prior to the end of the Study Period.  Without limiting the foregoing, Seller will terminate any existing management agreement or leasing agreement applicable to the Property, and provide evidence of such termination to Buyer at Closing.  Seller will not execute or enter into any new Operating Contract with respect to the Property that would be binding upon the Property or any part thereof after Closing, or terminate, amend, modify, extend or waive any rights under the existing Operating Contracts (except as contemplated by this Section 9(b)).
(c)If Buyer gives Seller notice within ten (10) days after the Effective Date that Buyer desires to obtain a subordination, non-disturbance and attornment agreement ("SNDA") from any or all of the Tenants, Seller will request (pursuant to the applicable provisions of the applicable Tenant’s Lease, if any) and use commercially reasonable efforts to obtain a SNDA from each such Tenant, either on the form specified in the applicable Lease or, if none, on Buyer's preferred form delivered to Seller with Buyer's request notice; provided, that the receipt of the SNDA by Buyer will not be a condition to Closing.
10.ESTOPPEL CERTIFICATES.  Seller will deliver to Buyer, not later than five (5) days prior to the Closing Date, an original estoppel certificate from 75% of the Tenants which 75% must include Academy Sports, TJ Maxx, PetSmart, Check E Cheese, McDonald’s and City National Bank, which estoppel certificate (a) is dated not more than thirty (30) days prior to the Closing Date; (b) is executed by such Tenant; (c) is addressed to Buyer (or its designee), any proposed lender identified by Buyer ("Lender"), and their successors and assigns; (d) verifies the basic facts of such Lease (term, rental, expiration date, any options) and contains no assertions adverse or contrary to the provisions of such Lease; (e) confirms, to Tenant's knowledge, that there are no defaults by the landlord under the Lease, no unperformed or "punchlist" construction items, and no unpaid tenant improvement allowances, inducements or leasing commissions; and (f) if such Tenant's obligations under the Lease have been guaranteed by another person or entity, Seller will request such estoppel certificate also covers such guaranty and is signed by such guarantor(s).  If a Tenant’s Lease does not include a form of tenant estoppel, Buyer will provide Seller with Buyer's preferred estoppel form and Seller will request, and use commercially reasonable efforts to obtain, the estoppel from such Tenant on such form.  Notwithstanding anything to the contrary above regarding requirements for the estoppel certificate, unless Buyer sends written objection of an estoppel executed by a Tenant to Seller within five (5) days following Buyer's initial receipt of such executed estoppel (or any subsequent modification thereof), such estoppel shall be deemed to have satisfied the requirements 

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of this Section 10 for such Tenant.  Seller will request the estoppel certificates within two (2) business days after the expiration of the Study Period.  
11.CLOSING COSTS.  Seller will pay (a) the cost for the standard portion of the Owner’s Policy and any endorsements to the Owner's Policy which Seller agrees (in Seller's sole discretion pursuant to Section 6 above) to obtain to cure any Objectionable Matters; (b) the costs of releasing all liens, judgments, and other encumbrances that are to be released under Section 6(f) and of recording such releases, if required to perfect such release; (c) one-half (1/2) of the fees and costs due Escrow Agent for its services (other than search costs, which will be paid entirely by Seller); and (d) all other costs to be paid by Seller under this Agreement.  Buyer will pay (i) the cost of any endorsements to the Owner’s Policy requested by Buyer and/or lender, and any lender's title policy, along with one-half (1/2) of the fees and costs due Escrow Agent (other than search costs, which will be paid entirely by Seller); (ii) the cost of the Survey; (iii) the cost attributable to the extended portion of the Owner’s Policy; and (iv) all other costs to be paid by Buyer under this Agreement.  Except as otherwise provided in this Agreement, Seller and Buyer will each be solely responsible for and bear all of their own expenses, including without limitation any expenses of legal counsel, accountants, and other advisors incurred at any time in connection with pursuing or consummating the transactions contemplated hereby.  Any other closing costs not specifically designated as the responsibility of either Party in this Agreement will be paid by Seller and Buyer according to the usual and customary allocation of the same by Escrow Agent for the Property's locale.  Seller agrees that all closing costs and charges payable by Seller may be deducted from Seller's proceeds otherwise payable to Seller at Closing.  Buyer will deposit with Escrow Agent sufficient cash to pay all of Buyer's closing costs and charges. 
12.PRORATIONS.  
(a)    The Parties will each execute and deliver to Escrow Agent for the Closing a closing statement setting forth the Purchase Price and all closing credits, prorations, charges, costs and adjustments contemplated by this Agreement.  All prorations will be calculated as of the Closing Date by Escrow Agent, based upon the latest available information, with income and expense for the Closing Date being allocated to Buyer.  Buyer will receive a credit for any rent paid by the Tenants for the period beginning with and including the Closing Date through and including the last day of the month in which Closing occurs (including any monthly estimates of common area maintenance charges, taxes, insurance or similar expenses to the extent the Tenants pay monthly).  Buyer shall not receive a credit at Closing for any rent which is payable for the month of Closing but has not then been paid by a Tenant as of the Closing Date, and in such event the Party that receives such rent when paid by such Tenant, shall immediately remit to the other Party such other Party's respective portion of such rent, prorated as of the Closing Date as provided above.  All other credits and charges to Buyer and Seller will be prorated as of the Closing Date.  Real estate taxes and assessments, if not the sole responsibility of the applicable Tenant under its Lease, will be prorated on an accrual basis and, if actual amounts are not available, will be based upon the current valuation and latest available tax rates or assessments.  All pre-paid or abated rents or deposit 

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amounts (including any tax or expense escrows and any security deposits) held or owed by Seller under the Leases, if any, will be paid to Buyer in the form of a credit against the Purchase Price.  If after Closing either Party receives any rents or other amounts that properly belong to the other Party based upon the Closing prorations, such amounts will be immediately remitted to such other Party.
(b)    If after Closing either Party discovers any errors, or receives additional information, indicating that the prorations were inaccurate, such Party will promptly notify the other and the Parties will correctly re-prorate the amounts in question.  No such correction will be required later than twelve (12) months after the Closing Date unless prior to such date the Party seeking the correction has given a written notice to the other Party specifying the nature and basis for such correction; provided, however, that if a correction is sought because current tax or assessment bills for the Property were not available as of Closing, the correction period with respect to the closing proration of such taxes or assessments will continue until thirty (30) days after Buyer's receipt of the applicable bills.  In the event of any re-proration under this Section, the Party owing funds will within thirty (30) days after determination remit to the other Party the amount shown to be due.  The provisions of this Section shall survive Closing.
(c)    For a period of twelve (12) months after the Closing Date, Seller will perform any reconciliations required under the Leases with respect to Seller’s period of ownership for common area maintenance charges, taxes, insurance or similar expenses; and Seller will be (i) responsible to pay any amounts due the Tenants, or (ii) entitled to receive any amounts owed by the Tenants, as a result of any such reconciliation.  The provisions of this Section shall survive Closing.
(d)    If the actual rent commencement date for any Lease has not occurred by Closing, but has been determined by Closing and is no longer subject to any conditions precedent that have not been satisfied (other than the mere passage of time), Seller will provide Buyer with a credit against the Purchase Price at Closing equal to any lease revenue (i.e., base rent, plus taxes, insurance, common area maintenance charges and any other payments required by Tenants under the Leases) that would have been due under such Lease, without regard to any free rent periods or rental abatements and other inducements, for the period from the Closing Date through the actual date of rent commencement under such Lease had the obligation to commence paying rent been in effect on the Closing Date.
(e)    All unpaid leasing costs relating to the Leases, including, without limitation, tenant improvement costs or allowances, free rent periods or rental abatements, concessions and other inducements and all brokerage commissions relating to the Leases are the obligation of Seller and shall be paid by Seller at Closing with evidence of payment delivered to Buyer at Closing or Buyer shall receive a credit against the Purchase Price for any such amount(s) not paid.
13.BUYER'S CONDITIONS PRECEDENT.  In addition to all other conditions precedent set forth in this Agreement, Buyer's obligations to close escrow and complete the purchase of the Property under this Agreement are expressly subject to the following:
(a)Seller's deposit with Escrow Agent, for delivery to Buyer at Closing, of the executed original Transfer Documents;

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(b)Seller's delivery to Buyer of the estoppel certificates as provided in Section 10 above;
(c)Seller's deposit with Escrow Agent of (i) Escrow Agent's customary form of "Owner's Affidavit" and (ii) such additional affidavits, undertakings or other documents as may be reasonably required by Escrow Agent to allow for the deletion of any mechanics' lien exceptions and other standard exceptions from the Owner's Policy;
(d)Provided that Buyer has satisfied all requirements of the Title Company for the issuance of the Owner’s Policy, Escrow Agent’s irrevocable commitment to issue the Owner’s Policy in the amount of the Purchase Price in the form approved by Buyer prior to the expiration of the Study Period;
(e)Seller's deposit with Escrow Agent of a letter from Seller to each Tenant, complying with the notice requirements of the applicable Lease and in form attached hereto as Exhibit H, directing that future rent under such Lease be paid to Buyer; and
(f)Seller's delivery to Buyer at Closing of a fully-executed original of each Lease (to the extent in the possession of Seller or Seller's agents).
If the foregoing conditions have not been satisfied by the scheduled Closing Date, then unless such failure is within the sole and exclusive control of Seller (in which event Buyer may proceed as provided in Section 21(a)) Buyer will have the right to elect, as Buyer's sole remedy, to terminate this Agreement by providing written notice to Seller and Escrow Agent, whereupon Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, the Deposit will immediately be paid by Escrow Agent to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations.
Seller will additionally deliver to Buyer, at or promptly following Closing, all Warranties, Permits, and Property Documents, if any, in the possession of Seller or Seller's agents; and any Intangibles capable of physical delivery.
14.NON-FOREIGN AFFIDAVIT.  Seller will deposit with Escrow Agent on or prior to Closing a sworn affidavit (the "Non-Foreign Affidavit") properly containing such information as is required by Section 1445(b)(2) of the Internal Revenue Code of 1986, as amended (the "Tax Code").  If Seller does not timely furnish the Non-Foreign Affidavit, Buyer may withhold (or direct Escrow Agent to withhold) from the Purchase Price the amount required to be so withheld pursuant to Section 1445(a) of the Tax Code, and such withheld funds will be deposited with the Internal Revenue Service as required by such Section 1445(a) and the regulations promulgated thereunder.  The amount withheld, if any, shall nevertheless be deemed to be part of the Purchase Price paid to Seller.

13
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

15.BROKER'S COMMISSION.  The Parties warrant to one another that they have not dealt with any finder, broker or realtor in connection with this Agreement other than UCR, and Seller may pay a commission to UCR and Hunt Properties, Inc., pursuant to separate agreements.  If any person asserts a claim to any finder's fee, brokerage commission or similar compensation in connection with this Agreement, the Party under whom the finder or broker is claiming will indemnify, defend and hold harmless the other Party from and against any such claim and all costs, expenses and liabilities incurred in defending against such claim, including without limitation reasonable attorneys' fees and court costs.  The provisions of this Section shall survive Closing or any earlier termination of this Agreement.  
16.AS-IS CONVEYANCE.  BUYER HEREBY EXPRESSLY ACKNOWLEDGES AND AGREES THAT BUYER HAS OR WILL HAVE, PRIOR TO THE END OF THE STUDY PERIOD, THOROUGHLY INSPECTED AND EXAMINED THE PROPERTY TO THE EXTENT DEEMED NECESSARY BY BUYER IN ORDER TO ENABLE BUYER TO EVALUATE THE PURCHASE OF THE PROPERTY.  BUYER HEREBY FURTHER ACKNOWLEDGES AND AGREES THAT BUYER IS RELYING SOLELY UPON THE INSPECTION, EXAMINATION, AND EVALUATION OF THE PROPERTY BY BUYER AND BUYER AGREES THAT, UPON THE CLOSING, BUYER SHALL BE DEEMED TO HAVE ACCEPTED THE PROPERTY IN ITS THEN EXISTING CONDITION, "AS IS, WHERE IS AND WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND OR NATURE BY SELLER EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR THE TRANSFER DOCUMENTS.  
17.RISK OF LOSS.  Seller shall bear all risk of loss resulting from or related to "Material Damage" (as defined below) of or to the Property or any part thereof which may occur prior to Closing (a "Casualty").  Seller shall also bear all risk of loss resulting from or related to a taking or condemnation of the Property or any part thereof if, prior to Closing, written notice of a proposed condemnation or taking is received, a condemnation proceeding is commenced, a condemnation proceeding is concluded, or all or any part of the Property is conveyed in lieu of condemnation (any such taking or condemnation event being a "Condemnation").  If a Casualty or Condemnation occurs, Seller will immediately give written notice of such event to Buyer.  Buyer may, at Buyer's sole option by giving written notice to Seller and Escrow Agent within thirty (30) days after receiving such notice from Seller, terminate this Agreement, in which event Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, the Deposit will immediately be paid by Escrow Agent to Buyer, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations.  If necessary, the Closing Date will be extended to allow Buyer such thirty-day period.  If any Casualty or Condemnation occurs which does not result in a termination of this Agreement, Seller will, at Closing and as a condition precedent thereto, pay Buyer the amount of any insurance or condemnation proceeds received by Buyer attributable to such event, or assign to Buyer, as of the Closing Date and in a form acceptable to Buyer, all rights or claims to the same.  For purposes 

14
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

hereof, "Material Damage" shall be deemed to be any damage or destruction that (a) gives any Tenant the right to terminate its Lease or abate rent under the Lease either temporarily or permanently, unless Seller provides a written waiver of any such right from any such Tenant; (b) will not result in the payment to Buyer of net proceeds from the applicable Seller or Tenant insurance policies sufficient to fully restore the Property to the condition that existed prior to such Casualty; or (c) causes more than $500,000 of damage to the Property. 
18.SELLER'S REPRESENTATIONS AND WARRANTIES.  
(a)    Seller represents and warrants to Buyer as of the Effective Date and again as of the Closing Date that:
(i)Seller has full power and authority to execute, deliver and perform under this Agreement and the Transfer Documents, and no consent of any third party is required in order for Seller to enter into this Agreement and perform Seller's obligations hereunder;
(ii)there are no actions or proceedings pending or, to Seller's knowledge, threatened against Seller which may in any manner whatsoever affect the validity or enforceability of this Agreement or any of the Transfer Documents;
(iii)the execution, delivery and performance of this Agreement and the Transfer Documents have not and will not constitute a breach of or default under any other agreement, law or court order under which Seller is a party or may be bound;
(iv)any existing financing secured by the Property or any part thereof will be satisfied and discharged in full as against the Property at or prior to Closing, and any liens or encumbrances upon the Property relating thereto will be terminated and released of record at or prior to Closing; and Seller does not have any defeasance, lender approval or prepayment obligations with respect to any such existing financing which will delay the Closing;
(v)to Seller's knowledge (1) no notice of violation has been issued with regard to any applicable regulation, ordinance, requirement, covenant, condition or restriction relating to the present use or occupancy of the Property by any person, authority or agency having jurisdiction; (2) there is no impending or contemplated Condemnation affecting the Property; (3) there are no intended public improvements which will or could result in any charges being assessed against the Property or which will result in a lien upon the Property; and (4) there are no proceedings pending for the increase of the assessed valuation of the Property;
(vi)there are no suits or claims pending or, to Seller's knowledge, threatened with respect to or in any manner affecting the Property or the Leases; 

15
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

(vii)Seller has not taken any action to change the present use or zoning of or other entitlements or land-use permissions or restrictions upon the Property, and to Seller's knowledge there are no such proceedings pending;
(viii)except as may be detailed in any environmental documents included in Seller's Diligence Materials, Seller has no actual knowledge that there exists or has existed during Seller’s ownership of the Property, and Seller has not caused, any generation, production, location, transportation, storage, treatment, discharge, disposal, release or threatened release upon, under or about the Property of any Hazardous Materials.  "Hazardous Materials" means any flammables, explosives, radioactive materials, hazardous wastes, hazardous and toxic substances or related materials, asbestos or any material containing asbestos (including, without limitation, vinyl asbestos tile), or any other substance or material defined as a "hazardous substance" by any federal, state, or local environmental law, ordinance, rule or regulation including, without limitation, the Federal Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, the Federal Hazardous Materials Transportation Act, as amended, the Federal Resource Conservation and Recovery Act, as amended, and the rules and regulations adopted and promulgated pursuant to each of the foregoing;
(ix)Seller has not entered into and will not enter into, and there is not existing, any other agreement, written or oral, under which Seller is or could become obligated to sell the Property or any portion thereof to a third party (including any Tenant);
(x)to Seller's knowledge, no default of Seller exists under any Lease; Seller has sent no written notice of default to any Tenant and, to Seller's knowledge, no default of Tenant exists under any Lease; and Seller has not received any notice or correspondence from or on behalf of any Tenant indicating any such Tenant's desire, willingness or intent to amend, modify, assign or terminate its Lease nor any notice or correspondence requesting the consent of Seller to any of the foregoing;
(xi)to Seller's knowledge, all amounts due and payable by Seller under any applicable reciprocal easement agreement or declaration of covenants, conditions and/or restrictions affecting the Property (the "REA's") have been paid in full and no default of Seller exists under any of the REA's and, to Seller's knowledge, no default of any other party exists under any of the REA's;
(xii)all brokerage commissions and other compensation and fees payable by reason of the Leases (including, without limitation, any renewals or expansions) have been fully paid, and no exclusive or continuing leasing or brokerage agreements exist as to any part of the Property; 
(xiii)Intentionally omitted;

16
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

(xiv)to Seller's knowledge, except as set forth in item (xii) above, all amounts presently due and payable, and all obligations presently performable, by Seller with respect to the Property have been paid and performed in full and no default of Seller exists with respect to the Property; and;
(xv)the Rent Roll is true and complete in all material respects, and there are no other Leases for any space in the Property other than those set forth on the Rent Roll; Seller has delivered (or will include in Seller’s Diligence Materials) complete copies of each Lease (including all guarantees, amendments, letter agreements, addenda and/or assignments thereof) and subleases, if any, and any other agreements between Seller and any Tenant.
For the purposes of the representations and warranties contained in this Section 18 wherever the phrase "to Seller's knowledge" or a similar phrase referencing or qualifying a representation by Seller's knowledge is used, Seller's knowledge shall be deemed to be limited solely to Seller's current, actual knowledge without any independent investigation or inquiry having been made.
All representations and warranties made in this Section 18 by Seller shall survive Closing for a period of six (6) months.  Except as limited by the subsequent paragraph, Seller will indemnify and hold Buyer harmless from and against any claims, loss, damage, liability and expense, including without limitation reasonable attorneys' fees and court costs, which Buyer may incur by reason of any misrepresentation by Seller or any breach of any of Seller's representations and warranties, discovered or arising prior to the expiration of such six (6) month period.  Seller's indemnity and hold harmless obligations shall survive Closing for six (6) months. 
If as a result of any change of conditions with respect to any portion of the Property and/or the acquisition by Seller of information not known to Seller at the time of execution of this Agreement, Seller is unable to confirm any such representations and warranties as of the Closing Date, Seller shall have the option of revising any such representations and warranties to reflect facts or conditions then existing or known to Seller.  If Buyer is unwilling to accept any such modification to Seller's representations and warranties, Buyer, as its sole and exclusive remedy, shall have the right to terminate this Agreement by providing Seller and the Title Company with written notice of Buyer's election to terminate this Agreement within ten (10) days following the date Buyer receives actual knowledge that such representations are materially inaccurate, in which event Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, the Deposit shall be returned to Buyer by the Title Company and neither party hereto shall have any further obligations hereunder except for any Surviving Obligations.  If Buyer accepts such revisions (which shall be deemed to have occurred if Buyer fails to provide Seller and the Title Company with written notice of Buyer's election to terminate this Agreement within ten (10) days following the date Buyer receives actual knowledge that such representations are materially inaccurate), Buyer shall be deemed to have waived any rights or remedies against Seller with respect to the representation in question.  To the extent that Buyer has actual knowledge prior to the Closing of facts contrary to those represented by Seller, Buyer shall promptly (but in no event later than five (5) days after obtaining such knowledge) notify Seller in writing prior to Closing to permit Seller to revise its representations accordingly.  Buyer shall not have a right to bring any action against 

17
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

Seller for breach of a representation or warranty in any circumstance where Buyer had actual knowledge prior to Closing that such representation or warranty was inaccurate if Buyer failed to notify Seller of such fact in writing prior to Closing as aforesaid.
(b)    Further, Seller hereby covenants that unless Buyer otherwise grants Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion:
(i)    Seller will pay (or cause to be paid) in full prior to the Closing Date all bills or other charges, costs or expenses which are due and payable arising out of or in connection with or resulting from Seller's use, ownership, or operation of the Property, including without limitation all general real estate taxes, assessments and personal property taxes due with respect to the Property up to the Closing Date, except for any item to be prorated at Closing in accordance with this Agreement;
(ii)    Seller will not execute or enter into any lease with respect to the Property or any part thereof, or terminate, amend, modify, extend or waive any rights under the Leases;
(iii)    Seller will, or as applicable will cause the Tenants to, (1) continue to operate the Property as heretofore operated; (2) maintain the Property in its current condition and perform routine and required maintenance and replacements; (3) pay prior to Closing all sums due for work, materials or services furnished or otherwise incurred in the ownership, use or operation of the Property; (4) comply with all governmental requirements applicable to the Property and with the terms, covenants and conditions of the Leases; (5) except as required by a governmental agency or as permitted under the Lease, not place or permit to be placed on any portion of the Property any new improvements of any kind or remove or permit any improvements to be removed from the Property; and (6) not, by voluntary or intentional act or omission, cause or create any easements, encumbrances, or liens to arise or to be imposed upon the Property or to allow any amendment or modification to any existing easements or encumbrances;
(iv)    Seller will not provide a copy of, nor disclose any of the terms of, this Agreement to any appraiser, and Seller will instruct any brokers Seller may deal with not to provide a copy of, nor disclose any of the terms of, this Agreement to any appraiser; and
(v)    Seller will request, within two (2) business days following the expiration of the Study Period, and reasonably cooperate to obtain the estoppel certificates, addressed to Buyer, Lender and their successors and assigns, from all other parties to any applicable reciprocal easement agreement, declaration of covenants, conditions and restrictions, or similar agreement relating to the Property.  Seller’s failure after reasonable efforts to obtain the foregoing estoppel certificates in this clause (v) will not be a default under this Agreement.  
19.BUYER'S REPRESENTATIONS AND WARRANTIES.  Buyer represents and warrants to Seller as of the Effective Date and again as of the Closing Date that:
(a)    Buyer has full power and authority to execute, deliver and perform under this Agreement and the Transfer Documents, and no consent of any third party is required in order for Buyer to enter into this Agreement and perform Buyer's obligations hereunder;

18
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

(b)    there are no actions or proceedings pending or, to Buyer's knowledge, threatened against Buyer which may in any manner whatsoever affect the validity or enforceability of this Agreement or any of the Transfer Documents; 
(c)    the execution, delivery and performance of this Agreement and the Transfer Documents have not and will not constitute a breach or default under any other agreement, law or court order under which Buyer is a party or may be bound; and 
(d)    if Buyer receives notice or knowledge of any additional information regarding any of the matters set forth in this Section 19 prior to Closing, Buyer will immediately give written notice to Seller of the same.
All representations and warranties made in this Section 19 by Buyer shall survive Closing for a period of six (6) months.  Buyer will indemnify and hold Seller harmless from and against any claims, loss, damage, liability and expense, including without limitation reasonable attorneys' fees and court costs, which Seller may incur by reason of any misrepresentation by Buyer or any breach of any of Buyer's representations and warranties, discovered or arising prior to the expiration of such six (6) month period.  Buyer's indemnity and hold harmless obligations shall survive Closing. 
20.ASSIGNMENT.  Except as provided below, this Agreement may not be assigned by either Seller or Buyer without the prior written consent of the other Party, which consent will not be unreasonably withheld.  Notwithstanding the foregoing, Buyer may assign its rights under this Agreement to any single purpose entity affiliated with, controlled by, or under common control with Buyer without seeking or obtaining Seller's consent.  Such assignee will execute an instrument whereby such assignee assumes the obligations of Buyer under this Agreement.  No assignment by Buyer shall release or otherwise relieve Buyer from any obligations hereunder; provided, however, that if Closing occurs the assignor (but not the assignee) shall thereupon be relieved of all the assignor's obligations arising under this Agreement before, on and after Closing.  
21.DEFAULT; REMEDIES.
(a)If Seller breaches this Agreement (including without limitation a breach of any representation or warranty of Seller) and such breach is not cured within five (5) days of receiving written notice from Buyer, Buyer may, as Buyer's sole and exclusive remedy for such breach, at Buyer's sole option either: (i) by written notice given to Seller and Escrow Agent terminate this Agreement, in which event the Deposit will be paid immediately by Escrow Agent to Buyer, Seller will promptly reimburse Buyer for all of Buyer's reasonable out-of-pocket and third-party expenses (including without limitation reasonable attorneys' fees) incurred in connection with the Property, Buyer's Diligence or this transaction, up to a maximum reimbursement of $40,000, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations; or (ii) seek specific performance against Seller.  Notwithstanding the foregoing, if specific performance is made unavailable as a remedy to Buyer by Seller's affirmative acts or 

19
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

intentional omissions, Buyer will be entitled to pursue all rights and remedies available at law or in equity provided however that any monetary judgment obtained by Buyer against Seller shall not exceed $500,000.00.  Buyer hereby waives any right to seek any other equitable or legal remedies against Seller.  Any suit by Buyer to enforce specific performance under this Agreement must be filed on or before two (2) years after the Closing Date or Buyer's right to enforce specific performance under this Agreement shall be forever waived.  The foregoing shall not act to limit any liability of Seller in regard to its indemnification obligations under this Agreement.
(b)If Buyer breaches this Agreement (including without limitation a breach of any representation or warranty of Buyer) and such breach is not cured within five (5) days of receiving written notice from Seller, Seller may, as Seller's sole and exclusive remedy for such breach, by written notice given to Buyer and Escrow Agent terminate this Agreement whereupon Buyer shall promptly return all hard copies and delete all electronic copies of Seller's Diligence Materials, Buyer shall provide to Seller a copy of any Third-Party Reports as provided in Section 5(e) but at no charge to Seller, and Seller shall receive the Deposit in accordance with Section 3(b) above as Seller's agreed and total liquidated damages, it being acknowledged and agreed by the Parties that it would be difficult or impossible to determine Seller's exact damages, and the Deposit represents a reasonable estimate of those damages.  Upon such termination by Seller, neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations.  The foregoing shall not act to limit any liability of Buyer in regard to its indemnification obligations under this Agreement.
(c)The provisions of this Section 21 shall not limit any rights or remedies either Party may have after Closing with respect to those provisions of this Agreement that survive Closing (including for any misrepresentation or breach of warranty) or under the Transfer Documents or any other documents entered into pursuant to this Agreement.  
22.NOTICES.  All notices under this Agreement must be sent either by (i) email, (ii) a reputable national overnight courier service, or (iii) personal delivery.  Notices from or signed by the legal counsel for a Party shall be equally effective as a notice from such Party itself.  The addresses to be used for notices are those set forth in the Summary of Terms above, or such other addresses as a Party may from time to time direct by notice given in accordance with these requirements.  If sent by email, a notice shall be deemed given when such email is transmitted to the notice address or number, and shall be deemed received on that same day unless given after 5:00 p.m. MST, in which case such receipt shall be the next business day.  If personally delivered, a notice shall be deemed given and received upon such delivery.  If sent by overnight courier service, a notice shall be deemed given upon deposit with such courier and deemed received upon actual receipt or refusal of delivery at the notice address.

20
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

23.ATTORNEYS' FEES.  If there is any litigation or arbitration between the Parties to determine or enforce any provisions or rights arising under this Agreement, the unsuccessful Party in such proceeding will pay to the successful Party all costs and expenses incurred by the successful Party in connection therewith, including without limitation reasonable attorneys' fees and court costs.  The determinations of which Party is the "successful Party" and the amount of such fees, costs and expenses to be awarded to the unsuccessful Party shall be made by the judge or arbitrator in such proceeding.
24.[Intentionally Deleted.]
25.TENANT AUDIT RIGHT.  If any Tenant has the right to inspect and audit any books, records or other documents of the landlord under its Lease, Seller agrees to retain such books, records and other documents to enable Tenant to conduct a full and complete audit thereof for at least six (6) months after the Closing Date.  The provisions of this Section shall survive Closing.
26.1031 EXCHANGE.  Each Party may structure its purchase or sale, as applicable, as part of a like-kind exchange under Section 1031 of the Tax Code.  Each Party will if requested reasonably cooperate with the other (at no cost or liability to the cooperating Party) in effectuating such a like-kind exchange, including signing such documents as may reasonably and customarily be required to accomplish such exchange; provided, however, that the Closing Date will not thereby be delayed and the cooperating Party will not be required to incur any additional liability or undertake any additional obligations as a result of any such like-kind exchange.  The Party employing the like-kind exchange structure will pay all costs and expenses associated with effectuating such exchange.
27.MISCELLANEOUS.  This Agreement constitutes a binding agreement between Seller and Buyer for the sale and purchase of the Property subject to the terms set forth in this Agreement.  Subject to the limitations set forth in this Agreement, this Agreement shall bind and inure to the benefit of the Parties and their respective successors and assigns.  This Agreement constitutes the entire agreement between the Parties pertaining to the sale and purchase of the Property, and unless expressly stated otherwise all prior and contemporaneous agreements, representations, negotiations and understandings of the Parties regarding this transaction (including without limitation any Letter of Intent), whether oral or written, are superseded and merged herein.  The foregoing sentence shall in no way affect the validity of any instruments subsequently executed by the Parties as contemplated by this Agreement.  No modification, waiver, amendment or discharge of or under this Agreement shall be valid unless contained in a writing signed by the Party against whom enforcement is sought.  No waiver by Seller or Buyer of a breach of any of the terms, covenants or conditions of this Agreement shall be construed or held to be a waiver of any succeeding or preceding breach of the same or any other term, covenant or condition contained herein.  The 

21
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

headings of this Agreement are for reference only and shall not limit or define the meaning of any provision of this Agreement.  
28.TIME OF ESSENCE.  Time is of the essence of this Agreement.  When used in this Agreement, the term "business day" means any day which is not a Saturday, Sunday or legal holiday.  If this Agreement specifies that a time period expires or that an action be taken on a date which is not a business day, such date shall be deemed extended to the next succeeding day which is a business day, and any successive time periods shall be deemed extended accordingly.  
29.SEVERABILITY.  If any one or more of the covenants, agreements, conditions, provisions, or terms of this Agreement is, in any respect or to any extent (in whole or in part), held to be invalid, illegal or unenforceable for any reason, all remaining portions thereof which are not so held, and all other covenants, agreements, conditions, provisions, and terms of this Agreement, will not be affected by such holding, but will remain valid and in force to the fullest extent permitted by law.
30.SURVIVAL.  To the extent that the performance of any covenant or other obligation of a Party in or pursuant to this Agreement or the Transfer Documents is contemplated to occur or continue after the Closing, the same shall not merge with the transfer of title to the Property, but shall remain in effect until fulfilled (subject to any express limitation thereon set forth in this Agreement).  
31.APPROVALS; FURTHER ACTS.  The Parties agree that for all matters in this Agreement requiring the consent or approval of any Party, unless otherwise expressly provided in this Agreement any such consent or approval will not be unreasonably withheld, conditioned or delayed.  The Parties agree to promptly execute such other documents and to perform such other acts as may be reasonably necessary to carry out the purpose and intent of this Agreement.
32.GOVERNING LAW.  This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State in which the Real Property is located.
33.COUNTERPARTS; ELECTRONIC DELIVERY.  This Agreement and any related documents may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.  Documents executed by the Parties but delivered by "pdf" or other electronic means will be accepted with the same effect as original ink-signed "hard copy" versions (an "Executed Original") of such documents, provided that, all Transfer Documents which are to be recorded must be delivered by the signing Party to Escrow Agent as Executed Originals.

22
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

34.INCORPORATION OF EXHIBITS AND SCHEDULES.  All Exhibits and Schedules attached to this Agreement are considered to be a part of this Agreement and are fully incorporated herein by this reference to the same extent as though set forth at length.
35.OFAC.  Each Party represents and warrants to the other, and to Escrow Agent, that (a) such Party is not knowingly acting, directly or indirectly, for or on behalf of any person, group, entity or nation named by any Executive Order or the United States Treasury Department as a terrorist, "Specially Designated National and Blocked Person," or other banned or blocked person, entity, or nation pursuant to any law that is enforced or administered by the Office of Foreign Assets Control, or engaging in, instigating or facilitating this transaction for or on behalf of any such person, group, entity or nation; (b) such Party is not engaging in this transaction, directly or indirectly, in violation of any laws relating to drug trafficking, money laundering or predicate crimes to money laundering; and (c) none of the funds of such Party to be utilized in this transaction have been or will be derived from any unlawful activity with the result that such Party or the Property is subject to seizure, forfeiture or other such remedy or that this Agreement or the transactions hereunder are or will be in violation of law.  The provisions of this Section shall survive Closing or any earlier termination of this Agreement.
36.SEC FILING INFORMATION.  In order to enable Buyer to comply with certain reporting requirements of the Securities and Exchange Commission (the “SEC”), including, without limitation, SEC Rule 3-14 of Regulation S-X, Seller agrees to provide Buyer and its representatives, upon Buyer’s request, information relating to Seller’s ownership and operation of the Property, including, without limitation, Seller's most current operating statements relating to the financial operation of the Property for the current and immediately prior fiscal years, and support for certain operating revenues and expenses specific to the Property (collectively, the “SEC Filing Information”).  Seller acknowledges that certain of the SEC Filing Information may be included or disclosed in filings required to be made by Buyer with the SEC.  Seller will cooperate in providing the SEC Filing Information and answering questions with respect thereto as they arise.  The provisions of this Section shall survive Closing for a period of one (1) year but shall not survive any termination of this Agreement.
37.TRANSFER TAXES.  Notwithstanding anything to the contrary under Section 11 above, Seller shall be responsible for payment of all State, County and local transfer taxes, stamp or documentary taxes associated with the sale of the Property.
[SIGNATURE PAGE FOLLOWS]

23
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

IN WITNESS WHEREOF, Seller and Buyer have caused this Agreement to be executed by their duly authorized and empowered representatives as of the Effective Date above.

SELLER:            LAWTON MARKETPLACE INVESTORS LP,
a Texas limited partnership

By:    LAWTON MARKETPLACE GP, LLC, 
a Texas limited liability company,
its general partner

By:    Hunt Properties, Inc., 
a Texas corporation,
its sole manager

By: /s/ Jeff Williams
Name:         Jeff Williams
Title:         President

		
	BUYER:
	ARCP AQUISITIONS, LLC, 

a Delaware limited liability company

By: /s/ Daniel T. Haug
Name (Print): Daniel T. Haug
Title: Authorized Officer

24
Purchase and Sale Agreement
Lawton Marketplace, Lawton, Oklahoma

Exhibit 10.11

ESCROW AGENT'S ACCEPTANCE

The foregoing fully executed Agreement is accepted by the undersigned, as the "Escrow Agent" hereunder, as of the  25th day of September, 2014.  Escrow Agent accepts the engagement to handle the escrow established by this Agreement in accordance with the terms set forth in this Agreement, including without limitation the Escrow Instructions, and acknowledges its receipt of the Deposit.

FIRST AMERICAN TITLE INSURANCE COMPANY

By: /s/ Brandon Grajewski
Name (Print): Brandon Grajewski
Title: Escrow Officer

25
Purchase and Sale Agreement
Lawton Marketplace, Lawton, OklahomaExhibit 10.1

 

 

 

 

Foster Wheeler AG Omnibus Incentive Plan

 

Amended and Restated Effective as of November
13, 2014

 

 

Applicable to replacement Awards granted
by AMEC plc on November 13, 2014

 

 

 

 

 

    	 

    	 

    

 

Table of Contents 

 

	Contents	 	Page
	Article 1. Establishment, Purpose, and Duration	 	1
	Article 2. Definitions	 	2
	Article 3. Administration	 	7
	Article 4. Shares Subject to This Plan and Maximum Awards	 	8
	Article 5. Eligibility and Participation	 	9
	Article 6. Stock Options	 	10
	Article 7. Stock Appreciation Rights	 	12
	Article 8. Restricted Stock and Restricted Stock Units	 	14
	Article 9. Performance Units/Performance Shares	 	16
	Article 10. Cash-Based Awards and Other Stock-Based Awards	 	18
	Article 11. Forfeiture of Awards.	 	20
	Article 12. Transferability of Awards	 	21
	Article 13. Performance Measures	 	21
	Article 14. Director Awards	 	23
	Article 15. Dividends and Dividend Equivalents	 	23
	Article 16. Beneficiary Designation	 	24
	Article 17. Rights of Participants	 	24
	Article 18. Change in Control	 	24
	Article 19. Amendment, Modification, Suspension, and Termination	 	25
	Article 20. Withholding	 	26
	Article 21. Successors	 	27
	Article 22. General Provisions	 	27

 

    	i

    	 

    

 

Foster Wheeler AG

Omnibus Incentive Plan 

 

Article 1. Establishment, Purpose, and Duration

 

1.1 Establishment. Foster Wheeler
Ltd., a Bermuda company, established an incentive compensation plan known as the Foster Wheeler Ltd. Omnibus Incentive Plan (the
“Plan”). The Plan superseded and replaced the Foster Wheeler Inc. 1995 Stock Option Plan, the Directors Stock Option
Plan, the 2004 Stock Option Plan, and the Management Restricted Stock Plan (the “Prior Plans”), except that the Prior
Plans shall remain in effect until the awards granted under such plans have been exercised, forfeited, are otherwise terminated,
or any and all restrictions lapse, as the case may be, in accordance with the terms of such awards. On February 9, 2009, Foster
Wheeler AG became the ultimate parent company of Foster Wheeler Ltd. and its subsidiaries as a result of a redomestication effected
pursuant to a scheme of arrangement under Bermuda law (the “Redomestication”), as described in Foster Wheeler Ltd.’s
proxy statement dated December 19, 2008. In the Redomestication, all of the previously-outstanding common shares of Foster
Wheeler Ltd. were cancelled and each holder of cancelled Foster Wheeler Ltd. common shares received registered shares of Foster
Wheeler AG (or cash in lieu of any fractional shares). Effective upon the completion of the Redomestication, Foster Wheeler AG,
a Swiss company assumed the Plan, renamed it the “Foster Wheeler AG Omnibus Incentive Plan,” and made certain amendments
to the Plan. The Plan was restated effective as of February 9, 2009 to incorporate the first three amendments to the Plan,
each of which had previously been approved by Foster Wheeler Ltd.’s and/or Foster Wheeler AG’s Board of Directors and/or
Compensation Committee, as appropriate. The Plan was amended and restated effective as of November 8, 2012, which restatement
incorporated an amendment previously approved by the Compensation Committee (now known as the Compensation and Executive Development
Committee) on November 3, 2010. The Plan was amended and restated to incorporate an additional amendment to Section 4.1,
which was approved by Foster Wheeler AG’s shareholders on May 2, 2013. Further amendments were made by AMEC plc on November
13, 2014.

 

This Plan permits the grant of Nonqualified
Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares,
Performance Units, Cash-Based Awards, and Other Stock-Based Awards.

 

This Plan originally became effective upon
initial shareholder approval on May 9, 2006 (the “Effective Date”). The Plan, as herein amended and restated,
incorporates all amendments previously adopted by the Committee, including additional amendments approved by the Company’s
shareholders on May 2, 2013, and is effective as of May 2, 2013. The Plan shall remain in effect as provided in Section 1.3
hereof.

 

On November 13 2014, various Awards granted
under the Plan were replaced with equivalent Awards over shares in AMEC plc (hereafter referred to as the “Company”),
in accordance with Section 18.2 and the terms of the implementation agreement entered into by Foster Wheeler AG and AMEC plc on
13 February 2014. The Plan continues to apply to such replacement Awards, subject to the minor amendments shown in tracked changes
herein.

 

It is intended that no further Awards will
be granted under the Plan after the grant of the replacement Awards referred to in the preceding paragraph.

 

1.2 Purpose of this Plan. The purpose
of this Plan is to provide a means whereby designated Employees, Directors, and Third-Party Service Providers develop a sense of
proprietorship and personal involvement in the development and financial success of the Company, and to encourage them to devote
their best efforts to the business of the Company, thereby advancing the interests of the Company and its shareholders. A further
purpose of this Plan is to provide a means through which the Company may attract able individuals to become Employees or serve
as Directors or Third-Party Service Providers and to provide a means whereby those individuals upon whom the responsibilities of
the successful administration and management of the Company are of importance, can acquire and maintain ownership of Shares, thereby
strengthening their concern for the welfare of the Company.

 

1.3 Duration of this Plan. Unless
sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date, e.g. on the day before
the tenth (10th) anniversary of the Effective Date. After this Plan is terminated, no Awards may be granted but
Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and this Plan’s
terms and conditions. Notwithstanding the foregoing, no Incentive Stock Options may be granted after May 9, 2016.

 

    	1

    	 

    

 

Article 2. Definitions 

 

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

 

		(a)	“Affiliate” shall mean any corporation or other entity (including, but not limited to, a partnership or
a limited liability company) that is affiliated with the Company through stock or equity ownership or otherwise, and is designated
as an Affiliate for purposes of this Plan by the Committee.

 

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

 

		(c)	“Applicable Laws” means the legal requirements relating to the administration of equity plans or the issuance
of share capital by a company, including under the laws of England and Wales, Switzerland, applicable U.S. state corporate laws,
U.S. federal and applicable state securities laws, other U.S. federal and state laws, the Code, any stock exchange rules and regulations
that may from time to time be applicable to the Company, and the applicable laws, rules and regulations of any other country or
jurisdiction where Awards are granted under the Plan, as such laws, rules, regulations, interpretations and requirements may be
in place from time to time.

 

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

 

		(e)	“Award Agreement” means either: (i) a written agreement entered into by the Company and a Participant
setting forth the terms and provisions applicable to an Award granted under this Plan, or (ii) a written or electronic statement
issued by the Company to a Participant describing the terms and provisions of such Award, including in each case any amendment
or modification thereof. The Committee may provide for the use of electronic, Internet, or other non-paper Award Agreements, and
the use of electronic, Internet, or other non-paper means for the acceptance thereof and actions thereunder by a Participant.

 

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

 

		(g)	“Board” or “Board of Directors” means the Board of Directors of the Company.

 

		(h)	“Cash-Based Award” means an Award, denominated in cash, granted to a Participant as described in Article
10.

 

		(i)	“Cause” means:

 

		(i)	Conviction of a felony;

 

		(ii)	Actual or attempted theft or embezzlement of Company, any Subsidiary, or any Affiliate assets;

 

		(iii)	Use of illegal drugs;

 

		(iv)	Material breach of an employment agreement between the Company, Affiliate or Subsidiary, as the case may be, and the Participant
that the Participant has not cured within thirty (30) days after the Company, Affiliate or Subsidiary, as applicable, has
provided the Participant notice of the material breach which shall be given within sixty (60) days of the Company’s,
Affiliate’s or Subsidiary’s, as applicable, knowledge of the occurrence of the material breach;

 

		(v)	Commission of an act of moral turpitude that in the judgment of the Committee can reasonably be expected to have an adverse
effect on the business, reputation, or financial situation of the Company, any Subsidiary, or any Affiliate and/or the ability
of the Participant to perform his or her duties;

 

		(vi)	Gross negligence or willful misconduct in performance of the Participant’s duties;

 

		(vii)	Breach of fiduciary duty to the Company, any Subsidiary, or any Affiliate;

 

		(viii)	Willful refusal to perform the duties of the Participant’s titled position; or

 

		(ix)	Material violation of the Foster Wheeler AG Code of Business Conduct and Ethics or any similar code adopted by AMEC plc.

 

    	2

    	 

    

 

		(j)	“Change in Control” means,

 

		(i)	The acquisition by any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange
Act) (a “Person”) of Beneficial Ownership of voting securities of the Company where such acquisition causes such Person
to own twenty percent (20%) 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 (the “Outstanding Company Voting Securities”), provided, however,
that for purposes of this paragraph (i), the following acquisitions shall not be deemed to result in a Change in Control: (A) any
acquisition directly from the Company or any corporation or other legal entity controlled, directly or indirectly, by the Company,
(B) any acquisition by the Company or any corporation or other legal entity controlled, directly or indirectly, by the Company,
(C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation
or other legal entity controlled, directly or indirectly, by the Company, or (D) any acquisition by any corporation pursuant
to a transaction that complies with clauses (A), (B), and (C) of paragraph (iii) below; and provided, further, that if
any Person’s Beneficial Ownership of the Outstanding Company Voting Securities reaches or exceeds twenty percent (20%) as
a result of a transaction described in clause (A) or (B) above, and such Person subsequently acquires Beneficial Ownership
of additional voting securities of the Company, such subsequent acquisition shall be treated as an acquisition that causes such
Person to own twenty percent (20%) or more of the Outstanding Company Voting Securities;

 

		(ii)	Individuals who, as of the date hereof, constitute the Board (such individuals, the “Incumbent Board”) cease for
any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent
to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at
least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member
of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result
of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board;

 

		(iii)	The consummation of a reorganization, merger, amalgamation or consolidation or sale or other disposition of all or substantially
all of the assets of the Company (“Business Combination”) or, if consummation of such Business Combination is subject
to the consent of any government or governmental agency, the later of the obtaining of such consent (either explicitly or implicitly
by consummation) or the consummation of such Business Combination; excluding, however, such a Business Combination pursuant to
which (A) all or substantially all of the individuals and entities who were the Beneficial Owners of the Outstanding Company
Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent
(50%) of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a corporation that as a result of such transaction owns the Company or
all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the
same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Voting Securities,
(B) no Person (excluding any (x) corporation owned, directly or indirectly, by the Beneficial Owner of the Outstanding
Company Voting Securities as described in clause (A) immediately preceding, or (y) employee benefit plan (or related
trust) of the Company or such corporation resulting from such Business Combination, or any of their respective subsidiaries) Beneficially
Owns, directly or indirectly, twenty percent (20%) or more of, respectively, the then outstanding shares of common stock of
the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities
of such corporation except to the extent that such ownership existed prior to the Business Combination, and (C) at least a
majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business
Combination; or

 

    	3

    	 

    

 

		(iv)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

 

		(k)	“Change-in-Control Price” means the closing price of a Share on the last trading day before the Change in
Control occurs or, if so determined by the Committee, the value of all compensation to be paid to the holder of a Share pursuant
to the terms of the transaction constituting the Change in Control.

 

		(l)	“Change in Control Period” means the period commencing on the date of a Change in Control and ending on
the twenty-four (24) month anniversary of such date.

 

		(m)	“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. For purposes of this
Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any
successor or similar provision, as well as any applicable interpretative guidance issued related thereto.

 

		(n)	“Committee” means the Compensation and Executive Development Committee (previously known as the Compensation
Committee) of the Board or a subcommittee thereof, or any other committee designated by the Board to administer this Plan. The
members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee
does not exist or cannot function for any reason, the Board may take any action under the Plan that would otherwise be the responsibility
of the Committee.

 

		(o)	“Company” means AMEC plc, a a company incorporated in England and Wales, and any successor thereto as provided
in Article 21 herein.

 

		(p)	“Covered Employee” means any key Employee who is or may become a “Covered Employee,” as defined
in Code Section 162(m), and who is designated, either as an individual Employee or class of Employees, by the Committee within
the shorter of: (i) ninety (90) days after the beginning of the Performance Period, or (ii) twenty-five percent
(25%) of the Performance Period has elapsed, as a “Covered Employee” under this Plan for such applicable Performance
Period.

 

		(q)	“Director” means any individual who is a member of the Board of Directors of the Company and who is not
an Employee.

 

		(r)	“Disability” means (i) in the case of an Employee, the Employee qualifying for long-term disability
benefits under any long-term disability program sponsored by the Company, Affiliate or Subsidiary in which the Employee participates,
and (ii) in the case of a Director or Third-Party Service Provider, the inability of the Director or Third-Party Service Provider
to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be
expected to result in death, or which has lasted or can be expected to last for a continuous period of not less than 12 months,
as determined by the Committee, based upon medical evidence and in accordance with Code Section 22(e)(3).

 

		(s)	“Effective Date” has the meaning set forth in Section 1.1.

 

		(t)	“Employee” means any individual who performs services for and is designated as an employee of the Company,
its Affiliates, and/or its Subsidiaries on the payroll records thereof. An Employee shall not include any individual during any
period he or she is classified or treated by the Company, Affiliate, and/or Subsidiary as an independent contractor, a consultant,
or any employee of an employment, consulting, or temporary agency or any other entity other than the Company, Affiliate, and/or
Subsidiary, without regard to whether such individual is subsequently determined to have been, or is subsequently retroactively
reclassified as a common-law employee of the Company, Affiliate, and/or Subsidiary during such period.

 

		(u)	“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor
act thereto.

 

		(v)	“Fair Market Value” or “FMV” means the closing price of a Share on the most recent date
on which Shares were publicly traded. In the event Shares are not publicly traded at the time a determination of their value is
required to be made hereunder, the determination of their Fair Market Value shall be made by the Committee in such manner as it
deems appropriate.

 

    	4

    	 

    

 

		(w)	“Full-Value Award” means an Award other than in the form of an ISO, NQSO, or SAR, and which is settled by
the issuance of fully paid Shares.

 

		(x)	“Grant Date” means the date on which the Committee approves the grant of an Award by Committee action or
such later date as specified in advance by the Committee.

 

		(y)	“Grant Price” means the price established when the Committee approves the grant of an SAR pursuant to Article
7, used to determine whether there is any payment due upon exercise of the SAR. The Grant Price of any SAR will be at least the
greater of the Fair Market Value of a Share or the par value of a Share.

 

		(z)	“Incentive Stock Option” or “ISO” means an Option to purchase Shares granted under Article
6 to an Employee and that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422,
or any successor provision.

 

		(aa)	“Insider” means an individual who is, on the relevant date, an officer or Director of the Company, or a
more than ten percent (10%) Beneficial Owner of any class of the Company’s equity securities that is registered pursuant
to Section 12 of the Exchange Act, as determined by the Board or Committee in accordance with Section 16 of the Exchange
Act.

 

		(bb)	“Involuntary Termination” means the Company’s, Affiliate’s and/or Subsidiary’s termination
of a Participant’s employment or service other than for Cause.

 

		(cc)	“Nonqualified Stock Option” or “NQSO” means an Option that is not intended to meet the
requirements of Code Section 422, or that otherwise does not meet such requirements.

 

		(dd)	“Non-Tandem SAR” means an SAR that is granted independently of any Option, as described in Article 7.

 

		(ee)	“Option” means an Incentive Stock Option or a Nonqualified Stock Option, as described in Article 6.

 

		(ff)	“Option Price” means the price at which a Share may be purchased by a Participant pursuant to an Option.
The Option Price will be at least the greater of the Fair Market Value of a Share or par value of a Share.

 

		(gg)	“Other Agreement” means either (i) an applicable employment or other written agreement between the
Company or Foster Wheeler AG (or an affiliate thereof) and a Participant or (ii) an applicable employment or other written
agreement between an Affiliate or a Subsidiary and a Participant which has been approved by the Board or Committee of the Company
or Foster Wheeler AG (or an affiliate thereof) or executed by the person who is the Chief Executive Officer, the President, an
Executive Vice President, the Controller, or the Secretary of the Company or Foster Wheeler AG (or an affiliate thereof).

 

		(hh)	“Other Stock-Based Award” means an equity-based or equity-related Award not otherwise described by the terms
of this Plan, granted pursuant to Article 10.

 

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

 

		(jj)	“Performance-Based Compensation” means compensation under an Award that is intended to satisfy the requirements
of Code Section 162(m) for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing,
nothing in this Plan shall be construed to mean that an Award which does not satisfy the requirements for performance-based compensation
under Code Section 162(m) does not constitute performance-based compensation for other purposes, including Code Section 409A.

 

		(kk)	“Performance-Based Exception” means the exception for Performance-Based Compensation from the tax deductibility
limitations of Code Section 162(m).

 

		(ll)	“Performance Measures” means measures as described in Article 13 on which the performance goals are based
and which are approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based
Compensation.

 

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

 

    	5

    	 

    

 

		(nn)	“Performance Share” means an Award under Article 9 herein and subject to the terms of this Plan, denominated
in fully paid Shares, the value of which at the time it is payable is determined as a function of the extent to which corresponding
performance criteria or Performance Measure(s), as applicable, have been achieved.

 

		(oo)	“Performance Unit” means an Award under Article 9 herein and subject to the terms of this Plan, denominated
in units, the value of which at the time it is payable is determined as a function of the extent to which corresponding performance
criteria or Performance Measure(s), as applicable, have been achieved.

 

		(pp)	“Period of Restriction” means the period when Restricted Stock or Restricted Stock Units are subject to
a substantial risk of forfeiture (based on the passage of time, the achievement of performance goals, or the occurrence of other
events as determined by the Committee, in its discretion) by the exercise of the Company’s right to repurchase such Restricted
Stock or Restricted Stock Units, as provided in Article 8.

 

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

 

		(rr)	“Plan” means the Foster Wheeler AG Omnibus Incentive Plan.

 

		(ss)	“Plan Year” means the Company’s fiscal year.

 

		(tt)	“Prior Plans” mean, collectively: (i) the Foster Wheeler Inc. 1995 Stock Option Plan; (ii) the
Directors Stock Option Plan; (iii) the 2004 Stock Option Plan; and (iv) the Management Restricted Stock Plan.

 

		(uu)	“Restricted Stock” means an Award granted to a Participant pursuant to Article 8.

 

		(vv)	“Resignation for Good Reason” means a material negative change in the employment relationship without the
Participant’s consent; provided (a) the Participant notifies the Company of the material negative change within ninety
(90) days of the occurrence of such change, (b) the material negative change is not cured by the Company within thirty
(30) days after receiving notice from the Participant, and (c) the material negative change is evidenced by any of the
following:

 

		(i)	material diminution in title, duties, responsibilities or authority;

 

		(ii)	reduction of base salary and benefits except for across-the-board changes for Employees at the Participant’s level;

 

		(iii)	exclusion from executive benefit/compensation plans;

 

		(iv)	relocation of the Participant’s principal business location by the Participant’s employer (the Company, Affiliate,
or Subsidiary, as the case may be) of greater than fifty (50) miles;

 

		(v)	material breach of the Participant’s employment agreement with the Company, Affiliate or Subsidiary, as the case may
be; or

 

		(vi)	resignation in compliance with securities/corporate governance applicable law (such as the US Sarbanes-Oxley Act) or rules
of professional conduct specifically applicable to such Participant.

 

		(ww)	“Restricted Stock Unit” means an Award granted to a Participant pursuant to Article 8, except no Shares
are actually awarded to the Participant on the Grant Date.

 

		(xx)	“Retirement” means:

 

		(i)	a termination of employment after the Participant has (i) attained age 60 and (ii) provided to the Company’s
Chief Executive Officer written notice of the Participant’s intent to terminate employment by way of Retirement as of a date
certain, which notice is provided at least one (1) year prior to the date of the intended Retirement.

 

For the avoidance of doubt, if a Participant has
met the relevant Retirement criteria set forth above but is terminated without Cause or is the subject of a Resignation for Good
Reason prior to the date set forth in the notice described above, the Participant shall remain eligible for Retirement under this
Plan.

 

		(yy)	“Share” means a registered ordinary share of the Company and will include American depositary shares representing
such ordinary shares.

 

		(zz)	“Stock Appreciation Right” or “SAR” means an Award, designated as an SAR, pursuant to
the terms of Article 7 herein.

 

    	6

    	 

    

 

		(aaa)	“Subsidiary” means any corporation or other entity, whether domestic or foreign, in which the Company has
or obtains, directly or indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock ownership or
otherwise.

 

		(bbb)	“Tandem SAR” means an SAR that is granted in connection with a related Option pursuant to Article 7, the
exercise of which shall require forfeiture of the right to purchase a Share under the related Option (and when a Share is purchased
under the Option, the Tandem SAR shall similarly be forfeited).

 

		(ccc)	“Third-Party Service Provider” means any consultant, agent, advisor, or independent contractor who renders
services to the Company, any Subsidiary, or an Affiliate that: (i) are not in connection with the offer or sale of the Company’s
securities in a capital raising transaction; and (ii) do not directly or indirectly promote or maintain a market for the Company’s
securities.

 

Article 3. Administration 

 

3.1 General. The Committee shall
be responsible for administering this Plan, subject to this Article 3 and the other provisions of this Plan. The Committee shall
consist of not fewer than two (2) Directors who are both non-employee directors, within the meaning of Rule 16b-3 of the Exchange
Act, and independent directors, within the meaning of Nasdaq Listing Rule 5605(a)(2), or any similar rule or listing requirement
that may be applicable to the Company from time to time. In addition, the Committee will be constituted in compliance with any
other rules or regulations which may be applicable from time to time, including but not limited to the UK Corporate Governance
Code. If at any time all members of the Committee are not also “outside directors,” as defined in Treasury Regulation
Section 1.162-27, the Committee may establish a subcommittee, consisting of all members who are outside directors, as so defined,
for all purposes of any Award to a Covered Employee that is intended to qualify for the Performance-Based Exception. The Committee
may employ attorneys, consultants, accountants, agents, and other individuals, any of whom may be an Employee, and the Committee,
the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations of any such individuals.
All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the Participants,
the Company, and all other interested individuals.

 

3.2 Authority of the Committee.
The Committee shall have full and exclusive discretionary power to interpret the terms and the intent of this Plan and any Award
Agreement or other agreement or document ancillary to or in connection with this Plan, to determine eligibility for Awards and
to adopt such rules, regulations, forms, instruments, and guidelines for administering this Plan as the Committee may deem necessary
or proper. Such authority shall include, but not be limited to, selecting Award recipients, establishing all Award terms and conditions
(including the terms and conditions set forth in Award Agreements), granting Awards as an alternative to or as the form of payment
for grants or rights earned or due under compensation plans or arrangements of the Company, construing any provision of the Plan
or any Award Agreement, and, subject to Article 19, adopting modifications and amendments to this Plan or any Award Agreement,
including without limitation, accelerating the vesting of any Award or extending the post-termination exercise period of an Award
(subject to the limitations of Code Section 409A), and any other modifications or amendments that are necessary to comply
with the laws of the countries and other jurisdictions in which the Company, its Affiliates, and/or its Subsidiaries operate.

 

Notwithstanding the foregoing, members
of the Board or the Committee who are either eligible for Awards or have been granted Awards may vote on any and all matters, including
matters affecting the administration of the Plan or the grant of Awards pursuant to the Plan. However, no such member shall act
upon the granting of a specific Award to himself or herself, but any such member may be counted in determining the existence of
a quorum at any meeting of the Board or the Committee during which action is taken with respect to the granting of an Award to
him or her.

 

3.3 Delegation. The Committee may
delegate to one or more of its members or to one or more officers of the Company, and/or its Subsidiaries and Affiliates or to
one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any individuals
to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any
responsibility the Committee or such individuals may have under this Plan. The Committee may, by resolution, authorize one or more
officers of the Company to do one or both of the following on the same basis as can the Committee: (a) designate Employees
to be recipients of Awards; (b) determine the size of any such Awards; provided, however, (i) the Committee shall not
delegate such responsibilities to any such officer for Awards granted to an Employee who is considered an Insider; (ii) the
resolution providing such authorization sets forth the total number of Awards such officer(s) may grant; and (iii) the officer(s)
shall report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated.

 

    	7

    	 

    

 

Article 4. Shares Subject to This Plan and Maximum
Awards 1 

 

4.1 Number of Shares Available for Awards

 

		(a)	Subject to adjustment as provided in Section 4.4 herein, the maximum number of Shares available for grant to Participants
under this Plan (the “Share Authorization”) shall be:

 

		(i)	Eleven million five hundred sixty thousand (11,560,000) Shares; plus

 

		(ii)	(A) the number of Shares (not to exceed 1,400,000) which remained available for grant under the Company’s Prior Plans
as of the Effective Date; and (B) the number of Shares (not to exceed 10,000,000) subject to outstanding awards as of the
Effective Date under the Prior Plans that on or after the Effective Date cease for any reason to be subject to such awards (other
than by reason of exercise or settlement of the awards to the extent they are exercised for or settled in vested and nonforfeitable
Shares).

 

		(b)	All Shares of the Share Authorization may be granted as Full-Value Awards.

 

		(c)	The maximum number of Shares of the Share Authorization that may be issued pursuant to ISOs under this Plan shall be twelve
million nine hundred sixty thousand (12,960,000) Shares.

 

		(d)	The maximum number of Shares of the Share Authorization that may be granted to Directors shall be 1,000,000 Shares.

 

4.2 Share Usage. Shares covered
by an Award shall only be counted as used to the extent they are actually issued and delivered to a Participant. Any Shares related
to Awards which terminate by expiration, forfeiture, cancellation, or otherwise without the issuance and delivery of such Shares,
are settled in cash in lieu of Shares, or are exchanged with the Committee’s permission, prior to the issuance and delivery
of Shares, for Awards not involving Shares, shall be available again for grant under this Plan and shall be added back to the limits
described in this Plan. In addition, the following principles shall apply in determining the number of Shares under any applicable
limit:

 

		(a)	Shares tendered or attested to in payment of the Exercise Price of an Option shall not be added back to the applicable limit;

 

		(b)	Any Shares withheld by the Company to satisfy the tax withholding obligation shall not be added back to the applicable limit
(without implying that the withholding of Shares is a permissible way to satisfy the obligation);

 

		(c)	Shares that are reacquired by the Company with the amount received upon the exercise of an Option shall not be added back to
the applicable limit; and

 

		(d)	The aggregate Shares exercised, rather than the number of Shares actually issued, pursuant to a SAR that is settled in Shares
shall reduce the applicable limit.

 

The Company will issue new Shares either
based on the Company’s conditional or authorized capital or it may, in its full discretion, deliver treasury shares, shares
available on the open market, or otherwise existing Shares.

 

4.3 Annual Award Limits. Unless
and until the Committee determines that an Award to a Covered Employee shall not be designed to qualify as Performance-Based Compensation,
the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply
to grants of such Awards under this Plan:

 

		(a)	Options. The maximum aggregate number of Shares subject to Options granted in any one Plan Year to any one Participant
shall be 1,000,000, as adjusted pursuant to Sections 4.4 and/or 19.2.

 

		(b)	SARs. The maximum number of Shares subject to Stock Appreciation Rights granted in any one Plan Year to any one Participant
shall be 1,000,000, as adjusted pursuant to Sections 4.4 and/or 19.2.

 

		(c)	Restricted Stock Units or Restricted Stock. The maximum aggregate grant with respect to Awards of Restricted Stock Units
or Restricted Stock that a Participant may receive in any one Plan Year shall be 600,000 Shares, as adjusted pursuant to Sections
4.4 and/or 19.2, or equal to the value of 600,000 Shares, as adjusted pursuant to Sections 4.4 and/or 19.2.

 

 

 

		1	This
Article 4 will not apply to replacement Awards.

 

    	8

    	 

    

 

		(d)	Performance Units or Performance Shares. The maximum aggregate Award of Performance Units or Performance Shares that
a Participant may receive in any one Plan Year shall be 600,000 Shares, as adjusted pursuant to Sections 4.4 and/or 19.2, or equal
to the value of 600,000 Shares, as adjusted pursuant to Sections 4.4 and/or 19.2, determined as of the date of vesting or payout,
as applicable.

 

		(e)	Cash-Based Awards. The maximum aggregate amount awarded or credited with respect to Cash-Based Awards to any one Participant
in any one Plan Year may not exceed the greater of the value of $5,000,000 or 600,000 Shares, as adjusted pursuant to Sections
4.4 and/or 19.2, determined as of the date of vesting or payout, as applicable.

 

		(f)	Other Stock-Based Awards. The maximum aggregate grant with respect to Other Stock-Based Awards pursuant to Section 10.2
in any one Plan Year to any one Participant shall be 600,000 Shares, as adjusted pursuant to Sections 4.4 and/or 19.2.

 

4.4 Adjustments in Authorized Shares.
In the event of any corporate event or transaction (including, but not limited to, a change in the authorized number of Shares
of the Company or the capitalization of the Company) such as an amalgamation, a merger, consolidation, reorganization, recapitalization,
separation, partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, division, consolidation
or other distribution of stock or property of the Company, combination of Shares, exchange of Shares, dividend in kind, or other
like change in capital structure, number of issued Shares or distribution (other than normal cash dividends) to shareholders of
the Company, or any similar corporate event or transaction, the Committee, in its sole discretion, in order to prevent dilution
or enlargement of Participants’ rights under this Plan, shall substitute or adjust, as applicable, the number and kind of
Shares that may be issued under this Plan or under particular forms of Awards, the number and kind of Shares subject to outstanding
Awards, the Option Price or Grant Price applicable to outstanding Awards, the Annual Award Limits, and other value determinations
applicable to outstanding Awards.

 

The Committee, in its sole discretion,
may also make appropriate adjustments in the terms of any Awards under this Plan to reflect, or related to, such changes or distributions
and to modify any other terms of outstanding Awards, including modifications of performance goals and changes in the length of
Performance Periods. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding
on Participants under this Plan.

 

Subject to the provisions of Article 19
and notwithstanding anything else herein to the contrary, without affecting the number of Shares reserved or available hereunder,
the Committee may authorize the issuance or assumption of benefits under this Plan in connection with any amalgamation, merger,
consolidation, acquisition of property or stock, or reorganization upon such terms and conditions as it may deem appropriate (including,
but not limited to, a conversion of equity awards into Awards under this Plan in a manner consistent with paragraph 53 of FASB
Interpretation No. 44 or subsequent accounting guidance), subject to compliance with the rules under Code Sections 422 and
424, as and where applicable. The Committee shall provide to Participants reasonable written notice (which may include, without
limit, notice by electronic means) within a reasonable time of any such determinations it makes.

 

Article 5. Eligibility and Participation 

 

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

 

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

 

5.3 Leaves of Absence. Notwithstanding
any other provision of the Plan to the contrary, for purposes of determining Awards granted hereunder, a Participant shall not
be deemed to have incurred a termination of employment if such Participant is placed on military or sick leave or such other leave
of absence which is considered as continuing intact the employment relationship with the Company, any Subsidiary, or any Affiliate.
In such a case, the employment relationship shall be deemed to continue until the date when a Participant’s right to reemployment
shall no longer be guaranteed either by law or contract.

 

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5.4 Transfer of Service. Notwithstanding
any other provision of the Plan to the contrary, for purposes of determining Awards granted hereunder, a Participant shall not
be deemed to have incurred a termination of employment if the Participant’s status as an Employee, Director, or Third-Party
Service Provider terminates and the Participant is then, or immediately thereafter becomes, an eligible individual due to another
status or relationship with the Company, any Subsidiary, or any Affiliate.

 

5.5 Termination of Employment. For
purposes of Awards granted under this Plan, the Committee shall have discretion to determine whether a Participant has ceased to
be employed by (or, in the case of a Director or Third-Party Service Provider, has ceased providing services to) the Company, Affiliate
and/or any Subsidiary, and the effective date on which such employment (or services) terminated, or whether any Participant is
on an authorized leave of absence. The Committee further shall have the discretion to determine whether any corporate event or
transaction that results in the sale, spinoff or transfer of a Subsidiary, business group, operating unit, division, or similar
organization constitutes a termination of employment (or services), and, if so, the effective date of such termination, for purposes
of Awards granted under this Plan.

 

Article 6. Stock Options 

 

6.1 Grant of Options. Subject to
the terms and provisions of this Plan, Options may be granted to Participants in such number, and upon such terms, and at any time
and from time to time as shall be determined by the Committee, in its sole discretion; provided that ISOs may be granted only to
eligible Employees of the Company or of any parent or subsidiary corporation (as permitted and defined under Code Sections 422
and 424).

 

6.2 Award Agreement. Each Option
grant shall be evidenced by an Award Agreement that shall specify the Option Price, the maximum duration of the Option, the number
of Shares to which the Option pertains, the conditions upon which an Option shall become vested and exercisable, and such other
provisions as the Committee shall determine which are not inconsistent with the terms of this Plan. The Award Agreement also shall
specify whether the Option is intended to be an ISO or a NQSO.

 

6.3 Option Price.
2 The Option Price for each grant of an Option under this Plan shall be determined by the Committee in its
sole discretion and shall be specified in the Award Agreement; provided, however, the Option Price must be at least equal to
one hundred percent (100%) of the FMV of the Shares as determined on the Grant Date. With respect to a Participant who
owns, directly or indirectly, more than ten percent (10%) of the total combined voting power of all classes of the stock
of the Company, any Subsidiary, or any Affiliate, the Option Price of Shares subject to an ISO shall be at least equal to one
hundred and ten percent (110%) of the Fair Market Value of such Shares on the ISO’s Grant Date. In any event, the
Option Price shall not be less than the aggregate par value of the Shares covered by the Option.

 

6.4 Term of Options. Each Option
granted to a Participant shall expire at such time as the Committee shall determine when the Committee approves the grant; provided,
however, no Option shall be exercisable later than the day before the tenth (10th) anniversary of the Grant Date.
Notwithstanding the foregoing, with respect to ISOs, in the case of a Participant who owns, directly or indirectly, more than ten
percent (10%) of the total combined voting power of all classes of stock of the Company, any Subsidiary, or an Affiliate,
no such ISO shall be exercisable later than the day before the fifth (5th) anniversary of the Grant Date.

 

6.5 Exercise of Options. Options
granted under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as the Committee
shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant. Notwithstanding
the foregoing, the Fair Market Value of Shares, determined as of the Grant Date, as to which ISOs are exercisable for the first
time by any Participant during any calendar year shall not exceed one hundred thousand dollars ($100,000). The portion of any ISOs
that become exercisable in excess of such amount, or that are exercised more than three months (12 months in the case of death
or disability) after the Participant has ceased to be an Employee of the Company or of any parent or subsidiary corporation (as
permitted and defined under Code Sections 422 and 424) shall be deemed Nonqualified Stock Options.

 

 

 

		2	This
Article 6.3 will not apply to replacement Awards, the Option Price for which will (where relevant) be determined in accordance
with the implementation agreement dated 13 February 2014.

 

    	10

    	 

    

 

6.6 Payment. Options granted under
this Article 6 shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company
in a form specified or accepted by the Committee, or by complying with any alternative procedures which may be authorized by the
Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment
for the Shares.

 

A condition of the issuance of the Shares
as to which an Option shall be exercised shall be the payment of the Option Price. The Option Price of any Option shall be payable,
in full, to the Company, under any of the following methods as determined by the Committee, in its sole discretion: (a) in
cash or its equivalent; (b) by a cashless (broker-assisted) exercise; (c) by a combination of (a) and/or (b); or
any other method approved or accepted by the Committee in its sole discretion.

 

Subject to any governing rules or regulations,
as soon as practicable after receipt of written notification of exercise and full payment (including satisfaction of any applicable
tax withholding), the Company shall deliver to the Participant evidence of book entry Shares in an appropriate amount based upon
the number of Shares purchased under the Option(s).

 

Unless otherwise determined by the Committee,
all payments under all of the methods indicated above shall be paid in Sterling.

 

6.7 Restrictions on Share Transferability.
The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Article
6 as it may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal
securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, or
under any blue sky or state securities laws applicable to such Shares.

 

6.8 Termination of Employment, Service
as a Director or Third-Party Service Provider. Each Participant’s Award Agreement shall set forth the extent to which
the Participant shall have the right to exercise the Option following termination of the Participant’s employment or services
to the Company, its Affiliates, and/or its Subsidiaries, as the case may be, subject to Sections 5.3 and 5.4. Such provisions shall
be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with each Participant,
need not be uniform among all Options issued pursuant to this Article 6, and may reflect distinctions based on, among other things,
the reasons for termination, or reasons relating to breach or threatened breach of restrictive covenants to which the Participant
is subject, if any. Subject to Article 18, in the event a Participant’s Award Agreement does not set forth such provisions,
the following provisions shall apply:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment, or service as a Third-Party Service
Provider with the Company, Affiliate and/or any Subsidiary terminates by reason of an Involuntary Termination or Resignation for
Good Reason by the Participant, all then vested and exercisable Options shall remain exercisable from the date of such termination
until the earlier of (A) the expiration of the term of the Option, or (B) six (6) months after the date of such
termination. Such Options shall only be exercisable to the extent that they were exercisable as of such termination date and all
unvested Options shall be immediately forfeited.

 

		(b)	Death or Disability. These termination events apply to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates by reason
of death or Disability, to the extent that an Option is not then exercisable, the Option shall immediately become vested and exercisable
with respect to all Shares covered by the Participant’s Option, and the Option shall remain exercisable until the earlier
of (A) the expiration of the term of the Option, or (B) 12 months after the date of such termination. In the case of
the Participant’s death, the Participant’s beneficiary or estate may exercise the Option.

 

		(c)	Retirement. This termination event shall apply only to Participants who are Employees. In the event that a Participant’s
employment terminates by reason of Retirement from the Company, Affiliate and/or any Subsidiary, to the extent an Option is not
then exercisable, the Option shall become vested and exercisable as to a number of Shares determined as follows: (i) the total
number of Shares covered by the Option times (ii) a ratio, the numerator of which is the total number of months of employment
from the Grant Date of the Option to the end of the month in which such termination occurs and the denominator of which is the
total number of months of vesting required for a fully vested Option as set forth in the Award Agreement. The vested portion of
the Option, as determined under this subsection (c), shall remain exercisable until the earlier of (A) the expiration of the
term of the Option, or (B) 36 months after the date of such termination. The unvested portion of the Option shall be immediately
forfeited.

 

    	11

    	 

    

 

		(d)	Termination for Cause. This termination event applies to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates for Cause,
all Options granted to such Participant shall expire immediately and all rights to purchase Shares (vested or nonvested) under
the Options shall cease upon such termination. In addition, the provisions of Article 11 shall apply.

 

		(e)	Other Termination. This termination event applies to all Participants, as follows:

 

		(i)	In the event that a Participant’s employment, or service as a Third-Party Service Provider with the Company, Affiliate
and/or any Subsidiary terminates for any reason other than those set forth in subsections (a) through (d) above, all
then vested and exercisable Options shall remain exercisable from the date of such termination until the earlier of (A) the
expiration of the term of the Option, or (B) 30 days after the date of such termination. Such Options shall only be exercisable
to the extent that they were exercisable as of such termination date and all unvested Options shall be immediately forfeited.

 

		(ii)	In the event that a Participant’s service as a Director with the Company terminates for any reason other than those set
forth in subsections (b) through (d) above, to the extent the Option is not then exercisable, the Option shall become
vested and exercisable as to a number of Shares determined as follows: (A) the total number of Shares covered by the Option
times (B) a ratio, the numerator of which is the total number of months of service from the Grant Date of the Option to the
end of the month in which such termination occurs and the denominator of which is the total number of months of vesting required
for a fully vested Option as set forth in the Award Agreement. The vested portion of the Option, as determined under this paragraph
(ii) shall remain exercisable from the date of such termination until the earlier of (x) the expiration of the term of
the Option, or (y) 30 days after the date of such termination. The unvested portion of the Option shall be immediately forfeited.

 

6.9 Notification of Disqualifying Disposition.
If any Participant shall make any disposition of Shares issued pursuant to the exercise of an ISO under the circumstances
described in Code Section 421(b) (relating to certain disqualifying dispositions), such Participant shall notify the Company
of such disposition within ten (10) calendar days thereof.

 

Article 7. Stock Appreciation Rights 

 

7.1 Grant of SARs. Subject to the
terms and conditions of this Plan, SARs may be granted to Participants at any time and from time to time as shall be determined
by the Committee. The Committee may grant Non-Tandem SARs, Tandem SARs, or any combination of these forms of SARs.

 

Subject to the terms and conditions of
this Plan, the Committee shall have complete discretion in determining the number of SARs granted to each Participant and, consistent
with the provisions of this Plan, in determining the terms and conditions pertaining to such SARs.

 

The Grant Price for each grant of an SAR
shall be determined by the Committee and shall be specified in the Award Agreement. Notwithstanding the foregoing, the Grant Price
of a Non-Tandem SAR on the Grant Date shall be at least equal to the greater of one hundred percent (100%) of the FMV of the
Shares as determined on the Grant Date or the par value of the Shares. The Grant Price of a Tandem SAR on the Grant Date shall
equal the Option Price of the related Option.

 

7.2 SAR Agreement. Each SAR Award
shall be evidenced by an Award Agreement that shall specify the Grant Price, the term of the SAR, and such other provisions as
the Committee shall determine.

 

7.3 Term of SAR. The term of an
SAR granted under this Plan shall be determined by the Committee, in its sole discretion, and except as determined otherwise by
the Committee and specified in the SAR Award Agreement, no SAR shall be exercisable later than the day before the tenth (10th) anniversary
of the Grant Date. Notwithstanding the foregoing, for SARs granted to Participants outside the United States, the Committee has
the authority to grant SARs that have a term greater than ten (10) years.

 

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7.4 Exercise of Tandem SARs. Tandem
SARs may be exercised for all or part of the Shares subject to the related Option upon the surrender of the right to exercise the
equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option
is then exercisable, and has not yet been exercised. Notwithstanding the foregoing: (i) a Tandem SAR granted in connection
with an ISO shall expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to
the Tandem SAR may be for no more than one hundred percent (100%) of the difference between the Option Price of the underlying
Option and the Fair Market Value of the Shares subject to the underlying Option at the time the Tandem SAR is exercised; and (iii) the
Tandem SAR may be exercised only when the Fair Market Value of the Shares covered by the Option exceeds the Option Price of the
Option.

 

7.5 Exercise of Non-Tandem SARs.
SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion, imposes.

 

7.6 Settlement of SARs. Upon the
exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined by multiplying:

 

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

 

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

 

At the discretion of the Committee, the
payment upon SAR exercise may be in cash, fully paid Shares, or any combination thereof, or in any other manner approved by the
Committee in its sole discretion. The Committee’s determination regarding the form of SAR payout shall be set forth in the
Award Agreement pertaining to the grant of the SAR.

 

7.7 Termination of Employment, Service
as a Director or Third-Party Service Provider. Each Award Agreement shall set forth the extent to which the Participant shall
have the right to exercise the SAR following termination of the Participant’s employment with or services to the Company,
its Affiliates, and/or its Subsidiaries, as the case may be, subject to Sections 5.3 and 5.4. Such provisions shall be determined
in the sole discretion of the Committee, shall be included in the Award Agreement entered into with Participants, need not be uniform
among all SARs issued pursuant to this Plan, and may reflect distinctions based on, among other things, the reasons for termination,
or reasons relating to breach or threatened breach of restrictive covenants to which the Participant is subject, if any. Subject
to Article 18, in the event a Participant’s Award Agreement does not set forth such provisions, the following provisions
shall apply:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment, or service as a Third-Party Service
Provider with the Company, Affiliate and/or any Subsidiary terminates by reason of an Involuntary Termination or Resignation for
Good Reason by the Participant, all then vested and exercisable SARs shall remain exercisable from the date of such termination
until the earlier of (A) the expiration of the term of the SAR, or (B) six (6) months after the date of such termination.
Such SARs shall only be exercisable to the extent that they were exercisable as of such termination date and all unvested SARs
shall be immediately forfeited.

 

		(b)	Death or Disability. These termination events apply to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates by reason
of death or Disability, to the extent that an SAR is not then exercisable, the SAR shall immediately become vested and exercisable
with respect to all Shares covered by the Participant’s SAR, and the SAR shall remain exercisable until the earlier of (A) the
expiration of the term of the SAR, or (B) 12 months after the date of such termination. In the case of the Participant’s
death, the Participant’s beneficiary or estate may exercise the SAR.

 

		(c)	Retirement. This termination event applies only to Participants who are Employees. In the event that a Participant’s
employment terminates by reason of Retirement from the Company, Affiliate and/or any Subsidiary, to the extent an SAR is not then
exercisable, the SAR shall become vested and exercisable as to a number of Shares determined as follows: (i) the total number
of Shares covered by the SAR times (ii) a ratio, the numerator of which is the total number of months of employment from the
Grant Date of the SAR to the end of the month in which such termination occurs and the denominator of which is the total number
of months of vesting required for a fully vested SAR as set forth in the Award Agreement. The vested portion of the SAR, as determined
under this subsection (c), shall remain exercisable until the earlier of (A) the expiration of the term of the SAR, or (B) 36
months after the date of such termination. The unvested portion of the SAR shall be immediately forfeited.

 

    	13

    	 

    

 

		(d)	Termination for Cause. This termination event applies to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates for Cause,
all SARs granted to such Participant shall expire immediately and all rights to purchase Shares (vested or nonvested) under the
SARs shall cease upon such termination. In addition, the provisions of Article 11 shall apply.

 

		(e)	Other Termination. This termination event applies to all Participants, as follows:

 

		(i)	In the event that a Participant’s employment, or service as a Third-Party Service Provider with the Company, Affiliate
and/or any Subsidiary terminates for any reason other than those set forth in subsections (a) through (d) above, all
then vested and exercisable SARs shall remain exercisable from the date of such termination until the earlier of (A) the expiration
of the term of the SAR, or (B) 30 days after the date of such termination. Such SARs shall only be exercisable to the extent
that they were exercisable as of such termination date and all unvested SARs shall be immediately forfeited.

 

		(ii)	In the event that a Participant’s service as a Director with the Company terminates for any reason other than those set
forth in subsections (b) through (d) above, to the extent the SAR is not then exercisable, the SAR shall become vested
and exercisable as to a number of Shares determined as follows: (A) the total number of Shares covered by the SAR times (B) a
ratio, the numerator of which is the total number of months of service from the Grant Date of the SAR to the end of the month in
which such termination occurs and the denominator of which is the total number of months of vesting required for a fully vested
SAR as set forth in the Award Agreement. The vested portion of the SAR, as determined under this paragraph (ii) shall remain
exercisable from the date of such termination until the earlier of (x) the expiration of the term of the SAR, or (y) 30
days after the date of such termination. The unvested portion of the SAR shall be immediately forfeited.

 

7.8 Other Restrictions. The Committee
shall impose such other conditions and/or restrictions on any Shares received upon exercise of an SAR granted pursuant to this
Plan as it may deem advisable or desirable. These restrictions may include, but shall not be limited to, a requirement that the
Participant hold the Shares received upon exercise of an SAR for a specified period of time.

 

Article 8. Restricted Stock and Restricted Stock
Units 

 

8.1 Grant of Restricted Stock or Restricted
Stock Units. Subject to the terms and provisions of this Plan, the Committee, at any time and from time to time, may grant
Restricted Stock and/or Restricted Stock Units to Participants in such amounts as the Committee shall determine. Restricted Stock
Units shall be similar to Restricted Stock except that no Shares are actually issued until the expiration of the Period of Restriction.

 

8.2 Restricted Stock or Restricted Stock
Unit Agreement. Each Restricted Stock and/or Restricted Stock Unit grant shall be evidenced by an Award Agreement that shall
specify the Period(s) of Restriction, the number of Shares of Restricted Stock or the number of Restricted Stock Units granted,
and such other provisions as the Committee shall determine.

 

8.3 Other Restrictions. The Committee
shall impose such other conditions and/or restrictions on any Shares of Restricted Stock or Restricted Stock Units granted pursuant
to this Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase
price for each Share of Restricted Stock or each Restricted Stock Unit, restrictions based upon the achievement of specific performance
goals, time-based restrictions on vesting following the attainment of the performance goals, time-based restrictions, and/or restrictions
under Applicable Laws or under the requirements of any stock exchange or market upon which such Shares are listed or traded, or
holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock or Restricted
Stock Units.

 

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8.4 Voting Rights. Unless otherwise
set forth in a Participant’s Award Agreement and permitted by Applicable Law, a Participant holding Shares of Restricted
Stock granted hereunder shall be granted the right to exercise full voting rights with respect to those Shares during the Period
of Restriction. A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder.

 

8.5 Termination of Employment, Service
as a Director or Third-Party Service Provider. Each Award Agreement shall set forth the extent to which the restrictions placed
on Restricted Stock and/or Restricted Stock Units shall lapse following termination of the Participant’s employment with
or services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be, subject to Sections 5.3 and 5.4. Such
provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement entered into with
each Participant, need not be uniform among all Shares of Restricted Stock or Restricted Stock Units issued pursuant to this Plan,
and may reflect distinctions based on, among other things, the reasons for termination, or reasons relating to breach or threatened
breach of restrictive covenants to which the Participant is subject, if any. Subject to Article 18, in the event a Participant’s
Award Agreement does not set forth such provisions, the following provisions shall apply:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment or service, as the case may be,
with the Company, Affiliate and/or any Subsidiary terminates by reason of an Involuntary Termination or Resignation for Good Reason
by the Participant, to the extent any Shares of Restricted Stock or Restricted Stock Units, as the case may be, are not then vested,
all Shares of Restricted Stock or all Restricted Stock Units, as the case may be, shall be immediately forfeited to the Company.

 

		(b)	Death or Disability. These termination events apply to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates by reason
of death or Disability, to the extent any Shares of Restricted Stock or Restricted Stock Units, as the case may be, are not then
vested, all Shares of Restricted Stock or all Restricted Stock Units, as the case may be, shall immediately become fully vested
on the date of such termination and any restrictions shall lapse.

 

		(c)	Retirement. This termination event applies only to Participants who are Employees. In the event that a Participant’s
employment terminates by reason of Retirement from the Company, Affiliate and/or any Subsidiary, to the extent any Award covering
Shares of Restricted Stock or Restricted Stock Units, as the case may be, are not then vested, the Award shall become vested on
the date of such termination and any restrictions shall lapse as to a number of Shares or Units, as the case may be, determined
as follows: (A) the total number of Shares of Restricted Stock or Restricted Stock Units, as applicable, times (B) a
ratio, the numerator of which is the total number of months of employment from the Grant Date of the Award to the end of the month
in which the Participant’s termination occurs and the denominator of which is the total number of months of vesting required
for a fully vested Award as set forth in the Award Agreement; provided, however, that a Participant who is a United States taxpayer
shall be vested on the date on which he is entitled to Retire (taking into account any notice requirement) in the number of Shares
or Units which would be vested under the formula set forth above if he had actually Retired on such date, and at the end of each
subsequent month shall be vested in the number of additional Shares or Units that would be vested if he had Retired on such date,
until he actually terminates employment; and provided further that similar rules shall apply to a Participant who is not a United
States taxpayer but is subject to other tax laws requiring that Restricted Stock or Restricted Stock Units be taken into account
for tax purposes when the Participant is eligible to Retire.

 

		(d)	Termination for Cause. This termination event applies to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates for Cause
all vested and unvested Shares of Restricted Stock or all vested and unvested Restricted Stock Units, as the case may be, shall
be forfeited to the Company. In addition, the provisions of Article 11 shall apply.

 

		(e)	Other Termination. This termination event applies to all Participants, as follows:

 

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		(i)	In the event that a Participant’s employment, or service as a Third-Party Service Provider with the Company, Affiliate
and/or any Subsidiary terminates for any reason other than as described in subsections (a) through (d), all unvested Shares
of Restricted Stock or all unvested Restricted Stock Units, as the case may be, shall be immediately forfeited to the Company.

 

		(ii)	In the event that a Participant’s service as a Director with the Company terminates for any reason other than as described
in subsections (b) through (d), to the extent any Award covering Shares of Restricted Stock or Restricted Stock Units, as
the case may be, are not then vested, the Award shall become vested on the date of such termination and any restrictions shall
lapse as to a number of Shares or Units, as the case may be, determined as follows: (A) the total number of Shares of Restricted
Stock or Restricted Units, as applicable, times (B) a ratio, the numerator of which is the total number of months of service
from the Grant Date of the Award to the end of the month in which the Participant’s termination occurs and the denominator
of which is the total number of months of vesting required for a fully vested Award as set forth in the Award Agreement. The unvested
portion of the Award shall be immediately forfeited to the Company.

 

		(f)	Satisfaction of Performance Goals. In any situation in which the number of Shares of Restricted Stock, or Restricted
Stock Units, to which a Participant is entitled is intended to satisfy the Performance-Based Exception, or otherwise depends upon
the satisfaction of performance goals, the treatment of the Award upon a termination of employment or service shall be governed
by the provisions of Section 9.6.

 

8.6 Forfeiture and Right of Repurchase.
In the event that any Shares are required to be forfeited under any circumstances set forth in this Article 8, Article 20 or
otherwise under this Plan or an Award Agreement, then the Company shall have the right (but not the obligation), subject to Applicable
Laws, to repurchase any or all of such forfeited Shares for £0.001 per Share repurchased. The Company shall have 90 days
from the date of any event giving rise to forfeiture within which to effect a repurchase of any or all of the Shares subject to
such forfeiture conditions. The Company’s right to repurchase the Shares is assignable by the Company, in its sole discretion,
to a Subsidiary, Affiliate or other party (including, but not limited to, the trustee of an employee benefit trust) to whom such
rights can be assigned under Applicable Laws.

 

8.7 Section 83(b) Election.
The Committee may provide in an Award Agreement that the Award of Restricted Stock is conditioned upon the Participant making or
refraining from making an election with respect to the Award under Code Section 83(b). If a Participant makes an election
pursuant to Code Section 83(b) concerning a Restricted Stock Award, the Participant shall be required to file promptly a copy
of such election with the Company.

 

Article 9.
3 Performance Units/Performance Shares 

 

9.1 Grant of Performance Units/Performance
Shares. Subject to the terms and provisions of this Plan, the Committee, at any time and from time to time, may grant Performance
Units and/or Performance Shares to Participants in such amounts and upon such terms as the Committee shall determine.

 

9.2 Performance Unit/Performance Shares
Agreement. Each Performance Unit and/or Performance Share grant shall be evidenced by an Award Agreement that shall specify
the number of Performance Shares or the number of Performance Units granted, the applicable Performance Period, and such other
terms and provisions as the Committee shall determine. Notwithstanding the foregoing, any Award of Performance Shares granted after
November 8, 2012, shall provide for a Performance Period of not less than one (1) year for full vesting, subject to acceleration
upon a Change in Control and in certain limited situations (including, but not limited to, the death or Disability of the Participant);
provided that the foregoing restriction shall not apply to Awards covering a number of Shares that does not exceed (i) five
percent (5%) of the sum of the total number of Shares available for Awards under the Plan as of November 8, 2012, plus
any increase in the total number of Shares available for Awards approved by the shareholders after November 8, 2012, as adjusted
pursuant to Section 4.4, reduced by (iii) the number of Shares subject to Award granted under Article 8 after November 8,
2012, pursuant to the proviso to Section 8.2.

 

9.3 Value of Performance Units/Performance
Shares. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. Each Performance
Share shall have an initial value equal to the Fair Market Value of a Share on the Grant Date. The Committee shall set performance
goals in its discretion which, depending on the extent to which they are met, will determine the value and/or number of Performance
Units/Performance Shares that will be paid out to the Participant.

 

 

 

		3	This
Article 9 will not apply to replacement Awards, which are not subject to any performance conditions.

 

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9.4 Earning of Performance Units/Performance
Shares. Subject to the terms of this Plan, after the applicable Performance Period has ended, the holder of Performance Units/Performance
Shares shall be entitled to receive payout on the value and number of Performance Units/Performance Shares earned by the Participant
over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals have been
achieved.

 

9.5 Form and Timing of Payment of Performance
Units/Performance Shares. Payment of earned Performance Units/Performance Shares shall be as determined by the Committee and
as evidenced in the Award Agreement. Subject to the terms of this Plan, the Committee, in its sole discretion, may pay earned Performance
Units/Performance Shares in the form of cash or in fully paid Shares (or in a combination thereof) equal to the value of the earned
Performance Units/Performance Shares at the close of the applicable Performance Period, or as soon as practicable after the end
of the Performance Period. Any Shares may be granted subject to any restrictions deemed appropriate by the Committee. The determination
of the Committee with respect to the form of payout of such Awards shall be set forth in the Award Agreement pertaining to the
grant of the Award.

 

9.6 Termination of Employment, Service
as a Director or Third-Party Service Provider. Each Award Agreement shall set forth the extent to which the Participant shall
have the right to receive payment for any Performance Units and/or Performance Shares following termination of the Participant’s
employment with or services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be, subject to Sections 5.3
and 5.4. Such provisions shall be determined in the sole discretion of the Committee, shall be included in the Award Agreement
entered into with each Participant, need not be uniform among all Awards of Performance Units or Performance Shares issued pursuant
to this Plan, and may reflect distinctions based on, among other things, the reasons for termination, or reasons relating to the
breach or threatened breach of restrictive covenants to which the Participant is subject, if any. Subject to Article 18, in the
event that a Participant’s Award Agreement does not set forth such termination provisions, the following termination provisions
shall apply:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment or service, as the case may be,
with the Company, Affiliate and/or any Subsidiary terminates during a Performance Period by reason of an Involuntary Termination
or Resignation for Good Reason by the Participant, all unvested Performance Units and/or Performance Shares shall be immediately
forfeited to the Company.

 

		(b)	Death or Disability. These termination events apply to all Participants. In the event that a Participant’s employment
or service, as the case may be, with the Company, Affiliate and/or any Subsidiary terminates by reason of death or Disability,
the Participant shall receive a payout of the Performance Units and/or Performance Shares calculated as if the performance goals
had been met at the median or target level, as applicable.

 

		(c)	Retirement. This termination event applies only to Participants who are Employees.

 

		(i)	In the event that a Participant’s employment with the Company, Affiliate and/or any Subsidiary, terminates during a Performance
Period due to Retirement, the Participant shall receive a prorated payout of the Performance Units and/or Performance Shares, which
shall be valued and paid in accordance with paragraph (c)(ii). The prorated payout shall be determined as follows: (A) the
total number of Performance Units and/or Performance Shares, as applicable, to which the Participant would be entitled as determined
under paragraph (c)(ii) times (B) a ratio, the numerator of which is the total number of months of employment from the Grant
Date of the Award to the end of the month in which the Participant’s termination occurs and the denominator of which is the
total number of months in the Performance Period.

 

		(ii)	The number of Performance Units and/or Performance Shares to which the Participant is entitled, prior to application of the
proration formula described in paragraph (c)(i), shall be determined after the close of the Performance Period based upon the extent
to which the Performance Measures or other performance goals were actually achieved; provided that, in the case of an Award that
is not intended to qualify for the Performance-Based Exception, the Committee may provide for a payment prior to the close of the
Performance Period calculated as if the Performance Measures or other performance goals had been met at the median or target level,
as applicable, or such other measure as the Committee considers appropriate.

 

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		(d)	Termination for Cause. This termination event applies to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates for Cause
during a Performance Period, all Performance Units and/or Performance Shares (vested or unvested) shall be immediately forfeited
to the Company. In addition, the provisions of Article 11 shall apply.

 

		(e)	Other Termination. This termination event applies to all Participants, as follows:

 

		(i)	In the event that a Participant’s employment, or service as a Third-Party Service Provider with the Company, Affiliate
and/or any Subsidiary terminates during a Performance Period for any reason other than as described in subsections (a) through
(d), all unvested Performance Units and/or Performance Shares shall be immediately forfeited to the Company.

 

		(ii)	In the event that a Participant’s service as a Director with the Company terminates during a Performance Period for any
reason other than as described in subsections (b) through (d), to the extent any Award covering Performance Units and/or Performance
Shares are not then vested, the Award shall become vested on the date of such termination and any restrictions shall lapse as to
a number of Performance Units or Performance Shares, as the case may be, determined as follows: (A) the total number of Performance
Shares or Performance Units, as applicable, to which the Participant would be entitled if the performance goals had been met at
the median or target level, as applicable, times (B) a ratio, the numerator of which is the total number of months of service
from the Grant Date of the Award to the end of the month in which the Participant’s termination occurs and the denominator
of which is the total number of months of vesting required for a fully vested Award as set forth in the Award Agreement. The unvested
portion of the Award shall be immediately forfeited to the Company.

 

9.7 Forfeiture and Right of Repurchase.
In the event that any Shares are required to be forfeited under any circumstances set forth in this Article 9, Article 20 or
otherwise under this Plan or an Award Agreement, then the Company shall have the right (but not the obligation) to repurchase any
or all of such forfeited Shares for $0.001 per Share repurchased. The Company shall have 90 days from the date of any event giving
rise to forfeiture within which to effect a repurchase of any or all of the Shares subject to such forfeiture conditions. The Company’s
right to repurchase the Shares is assignable by the Company, in its sole discretion, to a Subsidiary, Affiliate or other party
to whom such rights can be assigned under Applicable Laws.

 

Article 10. Cash-Based Awards and Other Stock-Based
Awards 

 

10.1 Grant of Cash-Based Awards.
Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Cash-Based Awards
to Participants in such amounts and upon such terms as the Committee may determine.

 

10.2 Other Stock-Based Awards. The
Committee may grant other types of equity-based or equity-related Awards not otherwise described by the terms of this Plan (including
the grant or offer for sale of unrestricted Shares) in such amounts and subject to such terms and conditions, as the Committee
shall determine. Such Awards may involve the transfer of actual fully paid Shares to Participants, or payment in cash or otherwise
of amounts based on the value of Shares and may include, without limitation, Awards designed to comply with or take advantage of
the applicable local laws of jurisdictions other than the United States.

 

10.3 Cash-Based Award or Stock-Based
Award Agreement. Each Cash-Based Award or Stock-Based Award grant shall be evidenced by an Award Agreement that shall specify
the amount of the Cash-Based Award or Stock-Based Award granted and such other terms and provisions as the Committee shall determine;
provided that no Award Agreement shall provide for the issuance of Shares except on a fully paid basis.

 

10.4 Value of Cash-Based and Other Stock-Based
Awards. Each Cash-Based Award shall specify a payment amount or payment range as determined by the Committee. Each Other Stock-Based
Award shall be expressed in terms of Shares or units based on Shares, as determined by the Committee. The Committee may establish
performance goals in its discretion. If the Committee exercises its discretion to establish performance goals, the number and/or
value of Cash-Based Awards or Other Stock-Based Awards that will be paid out to the Participant will depend on the extent to which
the performance goals are met, and provided the cash or services received by the Company in exchange for Shares shall have a value
not less than the aggregate par value of any Shares issued as part of such other Stock-Based Award.

 

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10.5 Payment of Cash-Based Awards and
Other Stock-Based Awards. Payment, if any, with respect to a Cash-Based Award or an Other Stock-Based Award shall be made in
accordance with the terms of the Award, in cash or fully paid Shares as the Committee determines.

 

10.6 Termination of Employment, Service
as a Director or Third-Party Service Provider. The Committee shall determine the extent to which the Participant shall have
the right to receive Cash-Based Awards or Other Stock-Based Awards following termination of the Participant’s employment
with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be, subject to Sections
5.3 and 5.4. Such provisions shall be determined in the sole discretion of the Committee, such provisions may be included in an
agreement entered into with each Participant, but need not be uniform among all Awards of Cash-Based Awards or Other Stock-Based
Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination, or reasons relating to the
breach or threatened breach of restrictive covenants to which the Participant is subject, if any. Subject to Article 18, in the
event that a Participant’s Award Agreement does not set forth such termination provisions, the following termination provisions
shall apply:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment or service, as the case may be,
with the Company, Affiliate and/or any Subsidiary terminates by reason of an Involuntary Termination or Resignation for Good Reason
by the Participant, the unvested portion of the Award shall be immediately forfeited to the Company.

 

		(b)	Death or Disability. These termination events apply to all Participants. In the event that a Participant’s employment
or service, as the case may be, with the Company, Affiliate and/or any Subsidiary terminates by reason of death or Disability,
the Participant shall receive a payout of the Award; provided that if the Award is based upon the achievement of performance goals,
the Award shall be calculated as if the performance goals had been achieved at the median or target level, as applicable.

 

		(c)	Retirement. This termination event applies only to Participants who are Employees.

 

		(i)	In the event that a Participant’s employment with the Company, Affiliate and/or any Subsidiary, terminates during a Performance
Period due to Retirement, the Participant shall receive a prorated payout of the Award, which shall be valued and paid in accordance
with paragraph (c)(ii). The prorated payout shall be determined as follows: (A) the total amount of the Award to which the
Participant would be entitled as determined under paragraph (c)(ii) times (B) a ratio, the numerator of which is the total
number of months of employment from the Grant Date of the Award to the end of the month in which the Participant’s termination
occurs and the denominator of which is the total number of months in the Performance Period, or other period required for full
vesting of the Award.

 

		(ii)	The amount of the Award to which the Participant is entitled, prior to application of the proration formula described in paragraph
(c)(i), shall be determined after the close of the Performance Period based upon the extent to which the Performance Measures or
other performance goals were actually achieved; provided that, in the case of an Award that is not intended to qualify for the
Performance-Based Exception, the Committee may provide for a payment prior to the close of the Performance Period calculated as
if the Performance Measures or other performance goals had been met at the median or target level, as applicable, or such other
measure as the Committee considers appropriate.

 

		(d)	Termination for Cause. This termination event applies to all Participants. In the event that a Participant’s employment,
or service as a Director or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates for Cause
the Award (vested or unvested) shall be immediately forfeited to the Company. In addition, the provisions of Article 11 shall apply.

 

		(e)	Other Termination. This termination event applies to all Participants, as follows:

 

		(i)	In the event that a Participant’s employment, or service as a Third-Party Service Provider with the Company, Affiliate
and/or any Subsidiary terminates during a Performance Period for any reason other than as described in subsections (a) through
(d), the unvested portion of the Award shall be immediately forfeited to the Company.

 

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		(ii)	In the event that a Participant’s service as a Director with the Company terminates during a Performance Period, or other
period required for full vesting, for any reason other than as described in subsections (b) through (d), to the extent the
Award is unvested, the Award shall become vested on the date of such termination and any restrictions shall lapse as to a portion
of the Award determined as follows: (A) the total value of the Award to which the Participant would be entitled if any applicable
performance goals had been met at the median or target level, as applicable, times (B) a ratio, the numerator of which is
the total number of months of service from the Grant Date of the Award to the end of the month in which the Participant’s
termination occurs and the denominator of which is the total number of months of vesting or the performance period required for
a fully vested Award as set forth in the Award Agreement. The unvested portion of the Award shall be immediately forfeited to the
Company.

 

10.7 Forfeiture and Right of Repurchase.
In the event that any Shares are required to be forfeited under any circumstances set forth in this Article 10, Article 20
or otherwise under this Plan or an Award Agreement, then the Company shall have the right (but not the obligation), subject to
Applicable Laws, to repurchase any or all of such forfeited Shares for £0.001 per Share repurchased. The Company shall have
90 days from the date of any event giving rise to forfeiture within which to effect a repurchase of any or all of the Shares subject
to such forfeiture conditions. The Company’s right to repurchase the Shares is assignable by the Company, in its sole discretion,
to a Subsidiary, Affiliate or other party (including, but not limited to, the trustee of an employee benefit trust) to whom such
rights can be assigned under Applicable Laws.

 

Article 11. Forfeiture of Awards. 

 

11.1 General. Notwithstanding anything
else to the contrary contained herein, the Committee in granting any Award shall have the full power and authority to determine
whether, to what extent and under what circumstances such Award shall be forfeited, cancelled or suspended. Unless an Award Agreement
includes provisions expressly superseding the provisions of this Article 11, the provisions of this Article 11 shall apply to all
Awards. Any such forfeiture shall be effected by the Company in such manner and to such degree as the Committee, in its sole discretion,
determines, and will in all events (including as to the provisions of this Article 11) be subject to the Applicable Laws.

 

In order to effect a forfeiture under this
Article 11, the Committee may require that the Participant sell Shares received upon exercise or settlement of an Award to the
Company or to such other person as the Company may designate at such price and on such other terms and conditions as the Committee
in its sole discretion may require. Further, as a condition of each Award, the Company shall have, and each Participant shall be
deemed to have given the Company, a proxy on each Participant’s behalf, and each Participant shall be required and be deemed
to have agreed to execute any other documents necessary or appropriate to carry out this Article 11.

 

11.2 Forfeiture Events. Unless otherwise
specified by the Committee, in addition to any vesting or other forfeiture or repurchase conditions that may apply to an Award
and Shares issued pursuant to an Award, each Award granted under the Plan will be subject to the following forfeiture conditions:

 

		(a)	Competitive Activity. 4 All
                                                                  outstanding Awards and Shares issued pursuant to an Award held by an Participant will be forfeited in their entirety
                                                                  (including as to any portion of an Award or Shares subject thereto that are vested or as to which any repurchase or resale
                                                                  rights or forfeiture restrictions in favor of the Company or its designee with respect to such Shares have previously lapsed)
                                                                  if the Participant, without the consent of the Company, while employed or in service, as the case may be, or within six
                                                                  (6) months after termination of employment or service, establishes an employment or similar relationship with a
                                                                  competitor of the Company or engages in any similar activity that is in conflict with or adverse to the interests of the
                                                                  Company, as determined by the Committee in its sole discretion; provided, that if an Participant has sold Shares
                                                                  issued upon exercise or settlement of an Award within six (6) months prior to the date on which the Participant would
                                                                  otherwise have been required to forfeit such Shares or the Option under this subsection (a) as a result of the
                                                                  Participant’s competitive or similar acts, then the Company will be entitled to recover any and all profits realized by
                                                                  the Participant in connection with such sale.

 

 

 

		4	For
the avoidance of doubt, employment or service with the Foster Wheeler group prior to the grant of replacement Awards will not
constitute competitive activity.

 

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		(b)	Termination for Cause. All outstanding Awards and Shares issued pursuant to an Award held by an Participant will be
forfeited in their entirety (including as to any portion of an Award or Shares subject thereto that are vested or as to which any
repurchase or resale rights or forfeiture restrictions in favor of the Company or its designee have previously lapsed) if the Participant’s
employment or service is terminated by the Company for Cause; provided, however, that if an Participant has sold
Shares issued upon exercise or settlement of an Award within six (6) months prior to the date on which the Participant would
otherwise have been required to forfeit such Shares under this subsection (b) as a result of termination of the Participant’s
employment or service for Cause, then the Company will be entitled to recover any and all profits realized by the Participant in
connection with such sale; and provided further, that in the event the Committee determines that it is necessary to establish
whether grounds exist for termination for Cause, the Award will be suspended during any period required to conduct such determination,
meaning that the vesting, exercisability and/or lapse of restrictions otherwise applicable to the Award will be tolled and if grounds
for such termination are determined to exist, the forfeiture specified by this subsection (b) will apply as of the date of
suspension, and if no such grounds are determined to exist, the Award will be reinstated on its original terms.

 

		(c)	Failure to Timely Accept Award Agreement. If the Company or the Committee requests that a Participant execute and return
an Award Agreement (or otherwise indicate its acceptance of the Award Agreement) in connection with an Award, and if the Participant
fails to do so within ninety (90) days of the request for same, all outstanding Awards and Shares issued pursuant to the applicable
Award will be forfeited in their entirety. For the avoidance of doubt, all Awards are made as of their Grant Date.

 

Article 12. Transferability of Awards 

 

12.1 Transferability. Except as
provided in Section 12.2 below, during a Participant’s lifetime, his or her Awards shall be exercisable only by the
Participant or the Participant’s legal representative. Except as permitted by the Committee, Awards shall not be transferable
other than by will or the laws of descent and distribution; no Awards shall be subject, in whole or in part, to attachment, execution,
or levy of any kind; and any purported transfer in violation hereof shall be null and void. The Committee may establish such procedures
as it deems appropriate for a Participant to designate a beneficiary to whom any amounts payable or Shares deliverable in the event
of, or following, the Participant’s death, may be provided.

 

12.2 Committee Action. The Committee
may, in its discretion, determine that notwithstanding Section 12.1, any or all Awards (other than ISOs) shall be transferable
to and exercisable by such transferees, and subject to such terms and conditions, as the Committee may deem appropriate; provided,
however, no Award may be transferred for value (as defined in the General Instructions to Form S-8).

 

For the sole purpose of enabling electronic
trading of awarded Shares, and subject to any other method determined by the Company from time to time, the awarded Shares must
be assigned and transferred to any corporate nominee designated by the Company from time to time. Any Shares not held by such
corporate nominee must be separately registered by a Participant prior to sale or trading.

 

Article 13.
5 Performance Measures 

 

13.1 Performance Measures. The performance
goals upon which the payment or vesting of an Award to a Covered Employee that is intended to qualify as Performance-Based Compensation
shall be limited to the following Performance Measures:

 

		(a)	Net earnings or net income (before or after taxes);

 

		(b)	Earnings per share (basic or fully diluted);

 

		(c)	Net sales or revenue growth;

 

		(d)	Net operating profit;

 

 

 

		5	This
Article 13 will not apply to replacement Awards.

 

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		(e)	Return measures (including, but not limited to, return on assets, capital, invested capital, equity, sales, or revenue);

 

		(f)	Cash flow (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity, and cash flow return
on investment);

 

		(g)	Earnings before or after taxes, interest, depreciation, and/or amortization;

 

		(h)	Booking activity and Backlog growth (including, but not limited to, as measured in man-hours, future revenues, Foster Wheeler
scope and/or contract profit);

 

		(i)	Gross or operating margins;

 

		(j)	Productivity ratios;

 

		(k)	Share price (including, but not limited to, growth measures and total shareholder return);

 

		(l)	Expense targets;

 

		(m)	Leverage targets (including, but not limited to, absolute amount of consolidated debt, EBITDA/consolidated debt ratios and/or
debt to equity ratios);

 

		(n)	Credit rating targets;

 

		(o)	Margins;

 

		(p)	Operating efficiency;

 

		(q)	Safety;

 

		(r)	Market share;

 

		(s)	Customer satisfaction;

 

		(t)	Working capital targets;

 

		(u)	Economic value added or EVA® (net operating profit after tax minus the sum of capital multiplied by the cost
of capital);

 

		(v)	Developing new products and lines of revenue;

 

		(w)	Reducing operating expenses;

 

		(x)	Developing new markets;

 

		(y)	Meeting completion schedules;

 

		(z)	Developing and managing relationships with regulatory and other governmental agencies;

 

		(aa)	Managing cash;

 

		(bb)	Managing claims against the Company, including litigation; and

 

		(cc)	Identifying and completing strategic acquisitions.

 

Any Performance Measure(s) may be used
to measure the performance of the Company, any Subsidiary, or an Affiliate as a whole or any business unit of the Company, any
Subsidiary, or an Affiliate or any combination thereof, as the Committee may deem appropriate, or any of the above Performance
Measures as compared to the performance of a group of comparator companies, or published or special index that the Committee, in
its sole discretion, deems appropriate, or the Committee may select Performance Measure (j) above as compared to various stock
market indices. The Committee also has the authority to provide for accelerated vesting of any Award based on the achievement of
performance goals pursuant to the Performance Measures specified in this

Article 13.

 

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Notwithstanding the foregoing, for each
Award designed to qualify for the Performance-Based Exception, the Committee shall establish and set forth in the Award the applicable
performance goals for that Award no later than the latest date that the Committee may establish such goals without jeopardizing
the ability of the Award to qualify for the Performance-Based Exception and the Committee shall be satisfied that the attainment
of such Performance Measure(s) shall represent value to the Company in an amount not less than the par value of any related Performance
Shares. The terms of any Award intended to qualify for the Performance-Based Exception shall be objectively stated so that the
degree to which the Performance Measures have been met, and the amount payable to Covered Employees, can be determined by a third
party with knowledge of all relevant facts.

 

13.2 Evaluation of Performance.
Subject to Section 13.3, the Committee may provide in any such Award that any evaluation of performance may include or exclude
any of the following events that occurs during a Performance Period: (a) asset write-downs and other asset revaluations, (b) litigation
or claim judgments or settlements, (c) the effect of changes in tax laws, accounting principles, or other laws or provisions
affecting reported results, (d) any reorganization and restructuring programs, (e) extraordinary nonrecurring items as
described in Accounting Principles Board Opinion No. 30 and/or in management’s discussion and analysis of financial
condition and results of operations appearing in the Company’s annual report to shareholders for the applicable year, (f) acquisitions
or divestitures, (g) foreign exchange gains and losses, and (h) changes in material liability estimates. To the extent
such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a form that meets the requirements
of Code Section 162(m) for deductibility.

 

13.3 Adjustment of Performance-Based
Compensation. The degree of payout and/or vesting of Awards designed to qualify for the Performance-Based Exception shall be
determined based upon the written certification of the Committee as to the extent to which the performance goals and any other
material terms and conditions precedent to such payment and/or vesting have been satisfied. The Committee shall have the sole discretion
to adjust the determinations of the value and degree of attainment of the pre-established performance goals; provided, however,
that the performance goals applicable to Awards which are designed to qualify for the Performance-Based Exception, and which are
held by Covered Employees, may not be adjusted so as to increase the payment under the Award (the Committee shall retain the sole
discretion to adjust such performance goals upward, or to otherwise reduce the amount of the payment and/or vesting of the Award
relative to the pre-established performance goals). Without limiting the generality of the foregoing, the Committee may grant Awards
that are intended to qualify for the Performance-Based Exception and that provide for payment of a specified amount to Covered
Employees upon the attainment of Performance Measures described in Section 13.1, and may reserve the right to reduce such
amounts based upon other performance goals not described in Section 13.1, or in its sole discretion.

 

13.4 Committee Discretion. To the
extent permitted by applicable securities laws (and tax laws in the case of an award intended to qualify as Performance-Based Compensation),
the Committee shall have sole discretion to alter the governing Performance Measures without obtaining shareholder approval of
such changes. In addition, in the event that the Committee determines that it is advisable to grant Awards that shall not qualify
as Performance-Based Compensation, the Committee may make such grants without satisfying the requirements of Code Section 162(m)
and base vesting on Performance Measures other than those set forth in Section 13.1.

 

Article 14. Director Awards 

 

The Board shall determine all Awards to
Directors. The terms and conditions of any grant to any such Director shall be set forth in an Award Agreement and shall be otherwise
subject to the Plan.

 

Article 15. Dividends and Dividend Equivalents

 

The Committee shall determine the extent
to which a Participant who is granted Restricted Stock shall have the right to receive dividends declared on the Restricted Stock
during the Period of Restriction, and the extent to which Participants who receive Restricted Stock Units, Options, SARs, Performance
Shares or Other Stock Based Awards shall be granted the right to additional compensation (“dividend equivalents”) based
on the dividends declared on Shares that are subject to any Award, to be credited as of dividend payment dates, during the period
between the date the Award is granted and the date the Award is exercised, vests or expires, as determined by the Committee. Such
dividends or dividend equivalents shall be paid in or converted to cash or additional Shares by such formula and at such time and
subject to such limitations as may be determined by the Committee. The crediting of dividends or dividend equivalents shall be
subject to the following additional rules and limitations:

 

		(a)	Any crediting of dividends or dividend equivalents shall be subject to the same restrictions and conditions as the underlying
Award. For avoidance of doubt, dividends or dividend equivalents with respect to any Award subject to the achievement of performance
goals shall only be paid to the extent the Award vests and the performance goals are achieved.

 

		(b)	No dividend equivalent granted with respect to an Option or a Stock Appreciation Right may be conditioned, directly or indirectly,
upon exercise of such Option or Stock Appreciation Right.

 

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		(c)	If the grant of an Award to a Covered Employee is designed to comply with the requirements of the Performance-Based Exception,
the Committee may apply any additional restrictions it deems appropriate to the payment of dividends or dividend equivalents, such
that the dividends, dividend equivalents and/or the Award maintain eligibility for the Performance-Based Exception.

 

		(d)	To the extent a dividend or dividend equivalent is considered a 409A Award, as defined in Section 22.18, whether or not
the underlying Award is also a 409A Award, the right to the dividend or dividend equivalent shall be treated as a separate form
of Award that is subject to Section 22.18, and the time of payment of the dividend or dividend equivalent shall comply with
Section 409A.

 

Article 16. Beneficiary Designation 

 

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

 

Article 17. Rights of Participants 

 

17.1 Employment. Nothing in this
Plan or an Award Agreement shall interfere with or limit in any way the right of the Company, its Affiliates, and/or its Subsidiaries,
to terminate any Participant’s employment or service on the Board or to the Company at any time or for any reason not prohibited
by law, nor confer upon any Participant any right to continue his employment or service as a Director or Third-Party Service Provider
for any specified period of time.

 

Neither an Award nor any benefits arising
under this Plan shall constitute an employment contract with the Company, its Affiliates, and/or its Subsidiaries and, accordingly,
subject to Articles 3 and 19, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion
of the Committee without giving rise to any liability on the part of the Company, its Affiliates, and/or its Subsidiaries.

 

17.2 Participation. No individual
shall have the right to be selected to receive an Award under this Plan. In addition, the receipt of any Award shall not create
a right to receive a future Award.

 

17.3 Rights as a Shareholder. Except
as otherwise provided herein, a Participant shall have none of the rights of a shareholder with respect to Shares covered by any
Award until the Participant becomes the registered holder of such Shares.

 

Article 18. Change in Control 

 

18.1 Termination of Employment, Service
as a Director or Third-Party Service Provider during Change in Control Period. Each Participant’s Award Agreement may
set forth the extent to which the Participant’s Award is affected by a Change in Control, or a termination of employment
or service during a Change in Control Period, subject to Sections 5.3 and 5.4. Such provisions shall be determined in the sole
discretion of the Committee, may be included in the Award Agreement entered into with each Participant, need not be uniform among
all Awards issued pursuant to the Plan, and may reflect distinctions based on, among other things, the reasons for termination,
or reasons relating to breach or threatened breach of restrictive covenants to which the Participant is subject, if any; provided
that, subject to Section 22.2(c), no Award Agreement or Other Agreement entered into after November 8, 2012, may provide
for Change in Control provisions that are materially more favorable to the Participant than those set forth in the Plan. In the
event a Participant’s Award Agreement does not set forth such provisions, a Change in Control in itself shall have no effect
upon outstanding Awards (except as otherwise provided in Section 18.2), but the following provisions of subsections (a), (b),
(c) and (d) shall apply to all Awards during a Change in Control Period:

 

		(a)	Involuntary Termination or Resignation for Good Reason. These termination events apply only to Participants who are
Employees or Third-Party Service Providers. In the event that a Participant’s employment, or service as a Third-Party Service
Provider with the Company, Affiliate and/or any Subsidiary terminates by reason of an Involuntary Termination or Resignation for
Good Reason by the Participant during the Change in Control Period, then the following shall apply:

 

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		(i)	Except as otherwise provided in subparagraph (a)(ii), (A) to the extent that an Option or SAR is not then exercisable,
the Option or SAR shall immediately become fully vested and exercisable with respect to all Shares covered by the Participant’s
Option or SAR, and the Option or SAR shall remain exercisable until the earlier of three (3) years after the date of such
termination or expiration of the term of the Option or SAR, (B) to the extent any Shares of Restricted Stock or Restricted
Stock Units, as the case may be, are not then vested, all Shares of Restricted Stock or all Restricted Stock Units, as the case
may be, shall immediately become fully vested and any restrictions shall lapse, and (C) to the extent any Other Stock Award
or Cash-Based Award has not then been paid out, the Participant shall immediately receive a full payout of the Cash-Based Award
or Other Stock Award.

 

		(ii)	The target payout opportunities attainable under all outstanding Performance Units, Performance Shares, and any other Awards
which are subject to achievement of any of the Performance Measures specified in Article 13, or any other performance conditions
or restrictions that the Committee has made the Award contingent upon, shall be deemed to have been earned as of the effective
date of the Change in Control, and the amount payable pursuant to such Award shall be calculated as if the relevant performance
goals had been achieved at the median or target level, as applicable.

 

		(iii)	Such Awards shall be paid in Shares or cash, in accordance with the original terms of the Award, except that the Committee
has the authority to pay all or any portion of the value of any Award denominated in Shares in cash.

 

		(b)	Termination of Directors. This termination event applies only to Participants who are Directors. In the event that a
Participant’s service as a Director with the Company terminates during the Change in Control Period for any reason other
than Cause, death or Disability, all of the Participant’s Awards shall be treated in the manner described in subsection (a).

 

		(c)	Death, Disability, Retirement, or Termination for Cause. If a Participant’s employment, or service as a Director
or Third-Party Service Provider with the Company, Affiliate and/or any Subsidiary terminates during the Change in Control Period
by reason of death, Disability, Retirement (for Employees only), or Cause, the Participant’s Awards shall be treated in the
same manner as if such termination had not occurred during a Change in Control Period.

 

		(d)	Modification of Awards. Subject to Article 19, herein, the Committee shall have the authority to make any modifications
to the Awards as determined by the Committee to be appropriate in connection with the Change in Control.

 

18.2 Treatment of Awards. In the
event of a Change in Control that consists of a transfer of the business of the Company to a successor entity, by sale, merger,
consolidation or otherwise, or a recapitalization or reorganization of the Company, or any similar transaction as determined by
the Committee, the Committee may provide, on an equitable basis, for the Awards granted with respect to the successor to the Company,
and/or covering successor securities of the Company or of such successor, to be issued in replacement of all Awards that are outstanding
under the Plan. If no replacement awards are issued in lieu of outstanding Awards under the Plan, then the Plan and all outstanding
Awards granted hereunder shall terminate, and the Company (or successor) shall pay Participants an amount for their outstanding
Awards determined using the Change-in-Control Price. Participants with outstanding Options and SARs shall be given an opportunity
to exercise all their Options and SARs in connection with the consummation of the Change in Control and receive payment for any
acquired Shares using the Change-in-Control Price, or such Options and SARs may be cancelled in exchange for a payment equal to
the excess, if any, of the Change-in-Control Price over the Option Price or Grant Price, or if the Change-in-Control Price does
not exceed the Option Price or Grant Price, such Awards may be cancelled without payment of consideration. In each case where payment
is required under this Section 18.2, such payment shall be made no later than ten (10) business days after the consummation
of such Change in Control.

 

Article 19. Amendment, Modification, Suspension,
and Termination 

 

19.1 Amendment, Modification, Suspension,
and Termination. Subject to Section 19.3, the Committee may, at any time and from time to time, alter, amend, modify,
suspend, or terminate this Plan and any Award Agreement in whole or in part; provided, however, that, without the prior approval
of the Company’s shareholders and except as provided in Section 4.4 or Section 18.2:

 

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		(a)	Options or SARs issued under this Plan will not be repriced, replaced, or regranted through cancellation, or by lowering the
Option Price of a previously granted Option or the Grant Price of a previously granted SAR;

 

		(b)	Options or SARs issued under this Plan shall not be repurchased, or otherwise cancelled in exchange for a payment of any form
of consideration, if the Option Price or Grant Price is less than the Fair Market Value of the Shares covered by the Option or
SAR; and

 

		(c)	no material amendment of this Plan shall be made without shareholder approval if shareholder approval is required by Applicable
Laws.

 

19.2 Adjustment of Awards Upon the Occurrence
of Certain Unusual or Nonrecurring Events. The Committee may make adjustments in the terms and conditions of, and the criteria
included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.4
and 18.2 hereof) affecting the Company or the financial statements of the Company or of changes in Applicable Laws, regulations,
or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended
dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination
of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan. Notwithstanding
the foregoing, the Committee shall not, directly or indirectly, reduce the Option Price of an Option or Grant Price of an SAR unless
such reduction satisfies the requirements of Treasury Regulation Section 1.409A-1(b)(5)(v)(D) (if applicable) or other Applicable
Law.

 

19.3 Awards Previously Granted.
Notwithstanding any other provision of this Plan to the contrary (other than Sections 18.2, 19.4 and 22.1(c)), no termination,
amendment, suspension, or modification of this Plan or an Award Agreement shall adversely affect in any material way any Award
previously granted under this Plan, without the written consent of the Participant holding such Award. For the avoidance of doubt,
the treatment of Awards granted prior to November 8, 2012, upon a termination of employment, service as a Director or Third-Party
Service Provider, or upon a Change in Control shall be governed by the terms of the Plan and the applicable Award Agreement as
in effect on the date the Award was granted.

 

19.4 Amendment to Conform to Law.
Notwithstanding any other provision of this Plan to the contrary, the Committee may amend the Plan or an Award Agreement, to take
effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or an Award Agreement
to any present or future law relating to plans of this or similar nature (including, but not limited to, Code Section 409A),
and to the administrative regulations and rulings promulgated thereunder. By accepting an Award under this Plan, each Participant
agrees to any amendment made pursuant to this Section 19.4 to any Award granted under the Plan without further consideration
or action.

 

Article 20. Withholding 

 

20.1 General. The Company shall
have the power and the right to deduct or withhold, or require a Participant to remit to the Company, the amount necessary to satisfy
federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable
event arising as a result of this Plan.

 

20.2 Stock Settled Awards. Each
Participant shall make such arrangements as the Committee may require, within a reasonable time prior to the date on which any
portion of an Award settled in Shares is scheduled to vest, for the payment of all withholding tax obligations through either (i) giving
instructions to a broker for the sale on the open market of a sufficient number of Shares to pay the withholding tax in a manner
that satisfies all Applicable Laws, (ii) depositing with the Company an amount of funds equal to the estimated withholding
tax liability, or (iii) such other method as the Committee in its discretion may approve, including a combination of (i) and
(ii). If a Participant fails to make such arrangements, or if by reason of any action or inaction of the Participant the Company
fails to receive a sufficient amount to satisfy the withholding tax obligation, then, anything else contained in this Plan or any
Award to the contrary notwithstanding, the Shares that would otherwise have vested on such date shall be subject to forfeiture,
as determined by the Committee, regardless of the Participant’s status as an Employee, Director or Third-Party Service Provider;
provided, that the Committee, in its sole discretion, may permit a Participant to cure any failure to provide funds to meeting
the withholding tax obligation (including any penalties or interest thereon), if the Committee determines that the failure was
due to factors beyond the Participant’s control.

 

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20.3 Stock Settled replacement Awards.
In exercising its power to deduct or withhold the amount necessary to satisfy federal, state, and local taxes, domestic
or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Plan in
relation to replacement Awards, the Company may make such arrangements as it considers necessary, including, but not limited to,
arranging the sale on the open market (or in such other manner as may be determined) of a sufficient number of Shares to pay the
withholding tax in a manner that satisfies all Applicable Laws.

 

 

 

Article 21. Successors 

 

All obligations of the Company under this
Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor
is the result of a direct or indirect purchase, amalgamation, merger, consolidation, or otherwise, of all or substantially all
of the business and/or assets of the Company.

 

 

 

Article 22. General Provisions 

 

22.1 Forfeiture Events.

 

		(a)	The Committee may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to
an Award shall be subject to reduction, cancellation, forfeiture (including repurchase of Shares for nominal consideration), or
recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions
of an Award. Such events may include, but shall not be limited to, failure to remit the amounts necessary to satisfy the Participant’s
tax withholding obligations, termination of employment for Cause, termination of the Participant’s provision of services
to the Company, Affiliate, and/or Subsidiary, violation of material Company, Affiliate, and/or Subsidiary policies, breach of noncompetition,
confidentiality, or other restrictive covenants that may apply to the Participant, or other conduct by the Participant that is
detrimental to the business or reputation of the Company, its Affiliates, and/or its Subsidiaries.

 

		(b)	If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result
of misconduct, with any financial reporting requirement under the securities laws, if the Participant knowingly or grossly negligently
engaged in the misconduct, or knowingly or grossly negligently failed to prevent the misconduct, or if the Participant is one of
the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, the Participant shall,
to the extent required by Section 304 of the Sarbanes-Oxley Act of 2002, reimburse the Company the amount of any payment in
settlement of an Award earned or accrued during the twelve (12) month period following the first public issuance or filing
with the United States Securities and Exchange Commission (whichever just occurred) of the financial document embodying such financial
reporting requirement.

 

		(c)	To the extent that any policy adopted by the Company in order to comply with regulations issued pursuant to Section 10D
of the Exchange Act, as required by Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, requires
any Participant to forfeit any Award, or repay any amount paid with respect to any Award, such policy shall be deemed incorporated
into all outstanding Awards to the extent required by such regulations, and all Participants subject to such regulations, by accepting
any Award, shall be deemed to have consented to the inclusion of provisions in their Award Agreement as determined by the Committee
to be necessary or appropriate to comply with such regulations.

 

22.2 Effect of Other Agreements. 

 

		(a)	To the extent provided in an Award Agreement, the terms of an Other Agreement may be deemed incorporated into the Award Agreement,
and may alter the definition of Cause, Good Reason, Retirement or Change in Control, the treatment of the Award upon a termination
of employment or service or a Change in Control (including any provisions related thereto), or any other provisions relating to
vesting or lapse of forfeiture provisions, provided that Award, as so altered, could have been granted under the Plan without violating
any term of the Plan or any Applicable Law.

 

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		(b)	Except as otherwise provided in Section 22.2(c), an Other Agreement shall not be deemed incorporated into an Award Agreement,
and shall not affect the terms of the Award, unless so provided in the Award Agreement or otherwise determined by the Committee,
regardless of the terms of the Other Agreement.

 

		(c)	Any provision of an Other Agreement entered into prior to November 8, 2012, including any amendment thereto, that provides
benefits upon a Change in Control greater than those provided in Article 18 shall be deemed incorporated into the Award Agreement
and shall supersede the provisions of Article 18, unless otherwise provided by the Award Agreement. The Participant shall receive
the greater of the benefits provided under the Other Agreement or Article 18, without duplication.

 

22.3 Right of Offset. The Company,
any Subsidiary, or an Affiliate may, to the extent permitted by Applicable Law, deduct from and set off against any amounts the
Company, any Subsidiary, or an Affiliate, as the case may be, may owe to the Participant from time to time, including amounts payable
in connection with any Award, owed as wages, fringe benefits, or other compensation owed to the Participant, such amounts as may
be owed by the Participant to the Company, any Subsidiary, or an Affiliate, as the case may be, although the Participant shall
remain liable for any part of the Participant’s payment obligation not satisfied through such deduction and setoff. By accepting
any Award granted hereunder, the Participant agrees to any deduction or setoff under this Section 22.3.

 

22.4 Compliance with Code Section 162(m).
The Committee has the discretion to determine whether Awards granted to Covered Employees shall satisfy the requirements of the
Performance-Based Exception. Unless otherwise provided in the Award Agreement, or action by the Committee approving the Award,
an Award shall be treated as intended to satisfy the Performance-Based Exception if it (i) is granted to a Covered Employee,
and (ii) is either an Option or SAR, or an Award that is payable (subject to the exercise of negative discretion) solely upon
the achievement of one or more Performance Measures established in accordance with Section 13.1. Accordingly, the terms of
this Plan, including the definition of Covered Employee and other terms used therein, shall be interpreted in a manner consistent
with Code Section 162(m) and regulations thereunder to the extent applicable to an Award intended to satisfy the Performance-Based
Exception. Notwithstanding the foregoing, because the Committee cannot determine with certainty whether a given Participant will
be a Covered Employee with respect to a fiscal year that has not yet been completed, the term Covered Employee as used herein shall
mean only a person designated by the Committee as likely to be a Covered Employee with respect to a fiscal year. If any provision
of the Plan or any Award Agreement designated as intended to satisfy the Performance-Based Exception does not comply or is inconsistent
with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be construed or deemed amended
to the extent necessary to conform to such requirements, and no provision shall be deemed to confer upon the Committee or any other
person sole discretion to increase the amount of compensation otherwise payable in connection with such Award upon attainment of
the applicable performance objectives. Payment of any amount with respect to any amount intended to qualify for the Performance-Based
Exception that the Company reasonably determines would not be deductible by reason of Code Section 162(m) shall be deferred
until the earlier of the earliest date on which the Company reasonably determines that the deductibility of the payment will not
be so limited, or the year following the termination of employment.

 

22.5 Legend. The certificates for
Shares may include any legend which the Committee deems appropriate to reflect any restrictions on transfer of such Shares.

 

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

 

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

 

22.8 Requirements of Law. The granting
of Awards and the issuance of Shares under this Plan shall be subject to all Applicable Laws, and to such approvals by any governmental
agencies or stock exchange as may be required.

 

22.9 Securities Law Compliance.
With respect to Insiders, transactions under the Plan are intended to comply with all applicable conditions of Rule 16b-3 or its
successor under the Exchange Act and with all applicable codes and regulations in relation to dealings in Shares in the UK or other
relevant jurisdictions. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed
null and void, to the extent permitted by law and deemed advisable by the Committee.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

		(d)	Establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary
or advisable. Any subplans and modifications to Plan terms and procedures established under this Section 22.13 by the Committee
shall be attached to this Plan document as appendices; and

 

		(e)	Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary
local government regulatory exemptions or approvals.

 

		(f)	Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate
Applicable Law.

 

22.14 Uncertificated Shares. To
the extent that this Plan provides for issuance of certificates to reflect the transfer of Shares, the transfer of such Shares
may be effected on a noncertificated basis, to the extent not prohibited by Applicable Laws.

 

22.15 Unfunded Plan. Participants
shall have no right, title, or interest whatsoever in or to any investments that the Company, and/or its Subsidiaries, and/or its
Affiliates may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant
to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company
and any Participant, beneficiary, legal representative, or any other individual. To the extent that any individual acquires a right
to receive payments from the Company, its Subsidiaries, and/or its Affiliates under this Plan, such right shall be no greater than
the right of an unsecured general creditor of the Company, any Subsidiary, or an Affiliate, as the case may be. All payments to
be made hereunder shall be paid from the general funds of the Company, any Subsidiary, or an Affiliate, as the case may be and
no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except
as expressly set forth in this Plan.

 

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

 

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

 

22.18 Deferred Compensation. It
is the Company’s intent that any Awards granted under this Plan are structured to be exempt from Code Section 409A,
including all Treasury Regulations and other guidance issuance pursuant thereto (“Section 409A”) or are structured
to comply with the requirements of deferred compensation subject to Section 409A. Notwithstanding any contrary provision of
the Plan or any Award, the following provisions shall apply to any Award in a manner consistent with such intent.

 

		(a)	For purposes of this Section 22.18, an Award shall constitute a “409A Award” as used in this Section 22.18
only if and to the extent either:

 

		(i)	it is an Award (other than an Option, SAR, or Restricted Stock) that (A) is not ‘subject to a substantial risk of
forfeiture’ as defined in Section 409A (by reason of the Participant having attained eligibility for Retirement or otherwise),
and (B) (1) that is actually settled after March 15 of the year following the year in which the Award ceases to
be subject to a substantial risk of forfeiture or (2) that the terms of the Plan or the Award provide will be settled after
such March 15 or upon or after the occurrence of any event that may occur after such March 15; or

 

		(ii)	the Committee (after taking into account the definition of Resignation for Good Reason as provided in Section 2(vv), and
any applicable exemptions from Section 409A), determines that the Award otherwise constitutes deferred compensation as defined
in Section 409A.

 

Notwithstanding the foregoing, an Award shall not
be considered a 409A Award if at the time the Award is granted (or, if later, the time the Award is no longer subject to a substantial
risk of forfeiture), the Participant is not subject to United States income tax on any of the Participant’s income (including
such Award if it were taxable), or if the Award is otherwise covered by any of the exceptions contained in the Section 409A
regulations relating to foreign plans.

 

		(b)	If any amount becomes payable under any 409A Award by reason of a Participant’s termination of employment, and such Participant
incurs a termination of employment as set forth in the Plan (including, without limit, Section 5.4 of the Plan) or the Award
that is not a ‘separation from service,’ as defined by Section 409A, then the Participant’s right to such
payment, to the extent not already vested, shall be fully vested on the date of the termination of employment, but payment shall
be deferred until the earliest of (i) the date the Participant incurs such a separation from service (or six months thereafter
if and to the extent required by Section 22.18(d)), (ii) the date that a ‘change in control event’ as defined
in Section 409A occurs with respect to the Participant, (iii) the Participant’s death, or (iv) if the terms
of the Award provide for payment upon a specific vesting date, such specific vesting date. Notwithstanding anything in this Plan,
the Committee shall not exercise its discretion under Section 5.5 in a manner inconsistent with this Section 22.18.

 

		(c)	If any amount becomes payable under any 409A Award by reason of a Change in Control, and a Change in Control occurs as defined
by the Plan or the Award that is not a ‘change in control event,’ as defined by Section 409A, with respect to
such Participant, then the Participant’s right to such payment, to the extent not already vested, shall be fully vested on
the date of the Change in Control, and the amount of such payment shall be determined as of such date, but payment shall be deferred
until the earliest of (i) the date on which a change in control event occurs with respect to the Participant, (ii) the
date on which the Participant incurs a separation from service (or six months thereafter to the extent required by Section 22.18(d)),
(iii) the Participant’s death, or (iv) if the terms of the Award provide for payment upon a specific vesting date,
such specific vesting date.

 

		(d)	No amount that becomes payable under any 409A Award by reason of a Participant’s separation from service (as determined
after the application of Section 22.18(b) and (c)) will be made to a Participant who is a ‘specified employee’
(as defined by Section 409A) until the earlier of: (i) the first day following the sixth month anniversary of the Participant’s
separation from service, or (ii) the Participant’s date of death.

 

    	30

    	 

    

 

		(e)	To the extent that payment of any amount of a 409A Award is required to be deferred to a later date (the “409A Deferral
Date”) by reason of Section 409A, all amounts that would otherwise have been paid prior to the 409A Deferral Date shall
be paid in a single lump sum on the first business day following the 409A Deferral Date, and the Committee may, in its sole discretion
(but shall in no event be required to) permit an earlier payment to a Participant to the extent necessary to alleviate a ‘severe
financial hardship’ resulting from an ‘unforeseeable emergency,’ all as defined in Section 409A.

 

		(f)	For purposes of Section 409A, each ‘payment’ (as defined by Section 409A) made under this Plan shall
be considered a ‘separate payment’ for purposes of Section 409A.

 

		(g)	Any payment with respect to a 409A Award that becomes payable upon a specified vesting date, as defined in the Plan or Award,
shall be paid as soon as practical after such vesting date, but not later than the last day of the calendar year in which the vesting
date occurs.

 

		(h)	Notwithstanding the Company’s intentions as set forth above, if any Award granted under this Plan would fail to meet
the requirements of Section 409A with respect to such Award, then such Award shall remain in effect and be subject to taxation
in accordance with Section 409A. Neither the Company nor any member of the Committee shall have any liability for any tax
imposed on a Participant by Section 409A, and, if any tax is imposed on the Participant, the Participant shall have no recourse
against the Company or any member of the Committee for payment of any such tax.

 

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

 

22.20 No Constraint on Corporate Action.
Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise affect the Company’s, any Subsidiary’s,
or an Affiliate’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business
structure, or to amalgamate, merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or
assets; or (b) limit the right or power of the Company, any Subsidiary, or an Affiliate to take any action which such entity
deems to be necessary or appropriate.

 

22.21 Governing Law. The Plan and
each Award Agreement shall be governed by the laws of the state of New Jersey, excluding any conflicts or choice of law rule or
principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction.
Unless otherwise provided in the Award Agreement, recipients of an Award under this Plan are deemed to submit to the exclusive
jurisdiction and venue of the federal or state courts of New Jersey, to resolve any and all issues that may arise out of or relate
to this Plan or any related Award Agreement.

 

22.22 Indemnification. Subject to
requirements of New Jersey law and any other Applicable Laws, each individual who is or shall have been a member of the Board,
or a Committee appointed by the Board, or an officer of the Company to whom authority was delegated in accordance with Article
3, shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which
he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under this Plan
and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by
him or her in satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided he or she shall
give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend
it on his/her own behalf, unless such loss, cost, liability, or expense is a result of his/her own willful misconduct or except
as expressly provided by statute.

 

The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such individuals may be entitled under the Company’s
Articles of Association and its organizational regulations, as a matter of law, or otherwise, or any power that the Company may
have to indemnify them or hold them harmless.

 

    	31

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