Document:

Memorandum of Business terms among Orange Advisors, LLC, Orange Realty Group

 MEMORANDUM OF BUSINESS TERMS 
  
 The Memorandum, dated as of November 17, 2006 (“Memorandum”) is entered into by Orange Advisors, LLC,
a New Jersey limited liability company (“Advisors”), and Orange Realty Group, LLC, a New Jersey limited liability company (“Realty”), and Robbin E. Cooper (“Cooper”). 
  
 Orange REIT, Inc. (the “REIT”) has filed with the Securities and
Exchange Commission a Registration Statement on Form S-11 (No.333-131677) covering common shares to be offered to the public (the “Offering”), and the REIT will engage Advisors and Realty to provide services to the REIT pursuant to the
Advisory Agreement between the REIT and Advisors (the “Advisory Agreement”) and the Property Acquisition/Disposition Agreement between the REIT and Realty (the “Acquisition Agreement”). Advisors and Realty desire that Cooper
serve as President of Advisors and of Realty, and Cooper desires to accept such engagement. 
  
 The Memorandum is intended to set forth some of the principal terms of the contemplated business arrangement between Advisors, Realty and Cooper. It is contemplated that the parties hereto will enter into an
employment agreement setting forth the terms of this Memorandum in greater detail and additional terms customary to an employment arrangement on the earlier of (i) 90 days after the closing pursuant to the Offering on gross proceeds of
approximately $60 million or (ii) September 30, 2007. 
  
 1.    Position and Duties. Cooper will serve as President of Advisors and Realty and will devote substantially all of his working time and attention to the business and affairs of Advisors, Realty and the REIT.
Cooper will perform his duties and services from offices in Atlanta, Georgia. 
  
 2.    Term. The period of employment will commence on or about January 2, 2007. 
  
 3.    Compensation. 
  
 (a) Cooper will receive (i) a base salary of US $200,000 per annum, (ii) employee health benefits substantially on the same terms as those made
generally available to the officers of Advisors’ and Realty’s affiliate, Briad Group, and (iii) three weeks paid vacation in each calendar year. 
  

(b) In addition, Cooper will receive variable compensation described as follows (the “Variable Compensation”): 
  

	 	(i)	3.75% of any fee received by Realty under Section 4(a) of the Acquisition Agreement within five (5) business days of Realty’s receipt of such amount.

  

	 	(ii)	15.0% of any fee received by Realty under Section 4(b) of the Acquisition Agreement within five (5) business days of Realty’s receipt of such amount.

  

	 	(iii)	 15.0% of any fee received by Advisor under Section 8 (b), (c) or (d) of the Advisory Agreement within five (5) business days of 

 
Advisor’s receipt of such amount. 
  
 (c) Further, if Cooper’s employment is terminated prior to the first closing of the Offering, Cooper will receive a fee equal to US $133,000, payable
in eight monthly payments of US $16,600 per month, beginning on the date of execution of a termination and release agreement between Cooper, Advisors and Realty (the “Termination Fee”). 
  
 (d) The obligations to pay the Variable Compensation will survive termination
and will be paid on a pro-rata basis, based on the amount of capital raised while Cooper is employed as compared to the full amount raised by the REIT by the public offering of its shares. 
  
 4. Confidential Information. Cooper shall hold in a fiduciary capacity
for the benefit of Advisors, Realty and the REIT all secret or confidential information, knowledge, or data relating to Advisors, Realty or the REIT and their businesses obtained by Cooper during his employment by Advisors and Realty and that has
not become public knowledge (other than by acts of Cooper or his representatives in violation of this Memorandum). After the date of termination of Cooper’s employment with Advisors and Realty, Cooper shall not, without the prior written
consent of Advisors and Realty, communicate or divulge any such information, knowledge, or data to anyone other than Advisors, and Realty and those designated by them. 
  
 5. Governing Law. This Memorandum is governed by and shall be construed in accordance with the laws of the State of
New Jersey. 
  
 6. Counterparts. This Memorandum may be
executed in one or more counterparts, each of which together will constitute one and the same instrument. 
  
 IN WITNESS WHEREOF, the parties have executed this Memorandum as of the date and year first above written. 
  

					
			
	 ORANGE ADVISORS, LLC
  
 By: /s/ Brad Honigfeld                

	 	 	  	 
			
	  

	 	 	  	 COOPER:
 /s/ Robbin E.
Cooper

	 ORANGE REALTY GROUP, LLC
  
  
 By: /s/ Brad
Honigfeld

	 	 	  

  
 Briad Group hereby joins this
Memorandum for the purpose of guarantying the obligations of Orange Advisors, LLC and Orange Realty Group, LLC. 
  
 BRIAD GROUP 
  

			
		
	By:	 	/s/    Brad HonigfeldEnerSys' Amended and Restated 2006 Equity Incentive Plan

 Exhibit 10.2 
 ENERSYS 
 AMENDED AND RESTATED 
 2006 EQUITY INCENTIVE PLAN 
 1. Purpose. 
 The EnerSys 2006 Equity Incentive Plan (the “Plan”) is intended to provide an incentive to employees and non-employee directors of
EnerSys, a Delaware corporation (the “Company”), and its Subsidiaries to remain in the service of the Company and its Subsidiaries and to increase their interest in the success of the Company in order to promote the long-term
interests of the Company. The Plan seeks to promote the highest level of performance by providing an economic interest in the long-term performance of the Company. 
 2. Definitions. 
 For purposes of the Plan, the following terms have the following meanings:

 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under
common control with, such Person. For purposes of this definition, “control” (including with correlative meanings, the terms “controlling”, “controlled by” or “under common control
with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities
or by contract or otherwise. 
 “Agreement” means an agreement between the Company and an Eligible Person providing for the
grant of an Award hereunder. 
 “Award” means any Option, Stock Appreciation Right, Restricted Shares, Bonus Stock, Stock
Unit, Performance Share, or other incentive payable in cash or in shares of Common Stock as may be designated by the Compensation Committee from time to time under the Plan. 
 “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Act. 
 “Beneficiary” or “Beneficiaries” means the person(s) designated by a Participant or his Permitted Transferee in writing
to the Company to receive payments or other distributions or rights pursuant to the Plan upon the death of such Participant or his Permitted Transferee. If no Beneficiary is so designated or if no Beneficiary is living at the time a payment,
distribution or right becomes payable or distributable pursuant to the Plan, such payment, distribution or right shall be made to the estate of the Participant or a Permitted Transferee thereof. The Participant or Permitted Transferee, as the case
may be, shall have the right to change the designated Beneficiaries from time to time by written instrument filed with the Compensation Committee in accordance with such rules as may be specified by the Compensation Committee. 
 “Board of Directors” means the Board of Directors of the Company. 
  

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 “Bonus Shares” mean an Award of shares of Common Stock granted under Section 9 that
are fully vested when granted. 
 “Cashless Exercise” means an exercise of Vested Options outstanding under the Plan through
(a) the delivery of irrevocable instructions to a broker to make a sale of a number of Option Shares that results in proceeds thereon in an amount required to pay the aggregate exercise price for all the shares underlying such Vested Options
being so exercised (and any required withholding tax) and to deliver such proceeds to the Company in satisfaction of such aggregate exercise price or (b) any other surrender to the Company of Option Shares or Vested Options outstanding under
the Plan to satisfy the applicable aggregate exercise price (and any withholding tax) required to be paid upon such exercise. 
 “Cause” means, with respect to any Participant, (a) “cause” as defined in an employment agreement applicable to the Participant (so long as any act or omission constituting “cause” for such purpose
was willful), or (b) in the case of a Participant who does not have an employment agreement that defines “cause”: (i) any act or omission that constitutes a material breach by the Participant of any of his obligations under his
employment agreement (if any) with the Company or any of its Subsidiaries, the applicable Agreement or any other agreement with the Company or any of its Subsidiaries; (ii) the willful and continued failure or refusal of the Participant
substantially to perform the duties required of him as an employee of the Company or any of its Subsidiaries, or performance significantly below the level required or expected of the Participant, as determined by the Compensation Committee;
(iii) any willful violation by the Participant of any federal or state law or regulation applicable to the business of the Company or any of its Subsidiaries or Affiliates, or the Participant’s commission of any felony or other crime
involving moral turpitude, or any willful perpetration by the Participant of a common law fraud; or (iv) any other misconduct by the Participant that is materially injurious to the financial condition or business reputation of, or is otherwise
materially injurious to, the Company or any of its Subsidiaries or Affiliates. 
 “Change in Control” means the occurrence
of any one of the following: 
 (a) any Person, including any “group”, as defined in Section 13(d)(3) of 1934 Act, (other than
any stockholder at the 2004 Closing or Metalmark Capital LLC, a Delaware limited liability company) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing a majority of the combined voting power of the
Company’s then Outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a Qualifying Business Combination described in paragraph (c) below or who becomes such a Beneficial Owner as a result of a
change in ownership percentage resulting solely from an acquisition of securities by the Company; or 
 (b) the following individuals cease
for any reason to constitute a majority of the number of directors then serving on the Board of Directors: individuals who, as of the 2004 Closing, constitute the Board of Directors and any new director whose appointment or election by the Board of
Directors or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least 66-2/3% of the directors then still in office who either were directors at the 2004 Closing or whose appointment, election or
nomination for election was previously so approved or recommended; or 
  

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 (c) there is consummated a reorganization, merger or consolidation of the Company with, or sale or other
disposition of at least 80% of the assets of the Company in one or a series of related transactions to, any other Person (a “Business Combination”), other than a Business Combination that would result in the voting securities of the
Company Outstanding immediately prior to such Business Combination continuing to represent (either by remaining Outstanding or by being converted into voting securities of the surviving entity or any parent thereof) more than 50% of the combined
voting power of the securities of the Company or such surviving entity or any parent thereof Outstanding immediately after such Business Combination (a “Qualifying Business Combination”); or 
 (d) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, more than 50% of the combined voting
power of the Outstanding securities of which is owned by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 
 “Code” means the Internal Revenue Code of 1986, as amended, including the rules and regulations promulgated thereunder. 
 “Common Stock” means shares of Common Stock, par value $0.01 per share, of the Company. 
 “Compensation Committee” means the Compensation Committee of the Board of Directors. 
 “Competing Business” means a business or enterprise (other than the Company and its direct or indirect Subsidiaries) that is engaged in
any or all of the manufacture, importing, development, distribution, marketing or sale of: 
 (a) motive power batteries and chargers
(including, without limitation, batteries and chargers for industrial forklift trucks and other materials handling equipment; 
 (b)
stationary batteries and chargers (including, without limitation, standby batteries and power supply equipment for wireless and wireline telecommunications applications, such as central telephone exchanges, microwave relay stations, and switchgear
and other instrumentation control systems); or 
 (c) any other product the Company now makes or is currently (or at a relevant time in the
future) researching or developing, such as lithium batteries. 
 “Competing Business” also includes the design, engineering, installation or
service of stationary and DC power systems, and any consulting and/or turnkey services relating thereto. 
  

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 “Date of Grant” means the date of grant of an Award as set forth in the applicable
Agreement. 
 “Eligible Persons” means employees and non-employee directors of the Company and its Subsidiaries. 

“Fair Market Value” means, with respect to a share of Common Stock on any relevant day, (a) if such Common Stock is traded on a
national securities exchange, the closing price on such day, or if the Common Stock did not trade on such day, the closing price on the most recent preceding day on which there was a trade, (b) if such Common Stock is quoted on an automated
quotation system, the closing price on such day, or if the Common Stock did not trade on such day, the mean between the closing bid and asked prices on such day, or (c) in all other cases, the “fair market value” as determined by the
Compensation Committee in good faith and using such financial sources as it deems relevant and reliable (but in any event not less than fair market value within the meaning of Section 409A of the Code). 
 “Good Reason” means, with respect to any Participant, (a) “good reason” as defined in an employment agreement applicable to
such Participant, or (b) in the case of a Participant who does not have an employment agreement that defines “good reason”, a failure by the Company to pay material compensation due and payable to the Participant in connection with his
employment. 
 “Incentive Stock Option” means an Option granted with the intention that it qualify as an “incentive
stock option” as that term is defined in Section 422 of the Code or any successor provision. 
 “1933 Act” means the
Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder. 
 “1934 Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder. 
 “Nonqualified Stock
Option” means an Option other than an Incentive Stock Option. 
 “Option” means a right to purchase Common Stock
granted pursuant to Section 8. 
 “Option Price” means, with respect to any Option, the exercise price per share of Common
Stock to which it relates. 
 “Option Shares” means the shares of Common Stock acquired by a Participant upon exercise of an
Option. 
 “Outstanding”, with respect to any share of Common Stock, means, as of any date of determination, all shares that
have been issued on or prior to such date, other than shares repurchased or otherwise reacquired by the Company or any Affiliate thereof, on or prior to such date. 
 “Participant” means any Eligible Person who has been granted an Award. 
  

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 “Performance Share” has the meaning set forth in Section 12. 
 “Permanent Disability”, with respect to any Participant who is an employee of the Company or any of its Subsidiaries, shall be defined
in the same manner as such term or a similar term is defined in an employment agreement applicable to the Participant or, in the case of a Participant who does not have an employment agreement that defines such term or a similar term, means that the
Participant is unable to perform substantially all his duties as an employee of the Company or any of its Subsidiaries by reason of illness or incapacity for a period of more than six months, or six months in the aggregate during any 12-month
period, established by medical evidence reasonably satisfactory to the Compensation Committee. 
 “Permitted Transferee”
means, (A) with respect to outstanding shares of Common Stock held by any Participant, any Person with respect to which the Board of Directors shall have adopted a resolution stating that the Board of Directors has no objection if a transfer of
shares is made to such Person, and (B) with respect to Awards, or any other share of Common Stock issued as or pursuant to any Award, held by any Participant, (i) any Person to whom such Awards or other shares are transferred by will or
the laws of descent and distribution or (ii) the Company. 
 “Person” means an individual, a partnership, a joint
venture, a corporation, an association, a trust, an estate or other entity or organization, including a government or any department or agency thereof. 
 “Qualifying Performance Criteria” has the meaning set forth in Section 14(a) of the Plan. 
 “Restricted Shares” mean shares of Common Stock awarded to a Participant subject to the terms and conditions of the Plan under Section 9, the rights of ownership of which are subject to restrictions prescribed by the
Compensation Committee. 
 “Retirement”, with respect to any Participant who is an employee of the Company or any of its
Subsidiaries, means resignation or termination of employment on or after the Participant’s 65th birthday (other than termination for Cause); provided, however, that the Compensation Committee may determine in its sole discretion
that a resignation or termination of employment under other circumstances shall be considered “Retirement” for purposes of the Plan. 
 “Stock Appreciation Right” means a right that entitles the Participant to receive, in cash or Common Stock (as determined by the Compensation Committee in its sole discretion) value equal to or otherwise based on the excess
of (a) the Fair Market Value of a specified number of shares of Common Stock at the time of exercise over (b) the exercise price of the right, as established by the Compensation Committee on the Date of Grant. 
 “Stock Unit” means an Award granted under Section 11 denominated in units of Common Stock. 
 “Subsidiary” means any corporation in which more than 50% of the total combined voting power of all classes of stock is owned, either
directly or indirectly, by the Company or another Subsidiary. 
  

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 “2004 Closing” means the closing of the Company’s initial Public Offering.

 “Vested Options” means, as of any date of determination, Options that by their terms have vested and are exercisable on
such date. 
 “Vested Restricted Shares” means, as of any date of determination, Restricted Shares that by their terms have
vested as of such date. 
 A “Wrongful Solicitation” shall be deemed to occur when a Participant or former Participant
directly or indirectly (except in the course of his employment with the Company), for the purpose of conducting or engaging in a Competing Business, calls upon, solicits, advises or otherwise does, or attempts to do, business with any Person who is,
or was, during the then most recent 12-month period, a customer of the Company or any of its Affiliates, or takes away or interferes or attempts to take away or interfere with any custom, trade, business, patronage or affairs of the Company or any
of its Affiliates, or hires or attempts to hire any Person who is, or was during the most recent 12-month period, an employee, officer, representative or agent of the Company or any of its Affiliates, or solicits, induces, or attempts to solicit or
induce any person who is an employee, officer, representative or agent of the Company or any of its Affiliates to leave the employ of the Company or any of its Affiliates, or violate the terms of their contract, or any employment agreement, with it.

 3. Administration of the Plan. 
 (a) Members of the Compensation Committee. The Plan shall be administered, and Awards shall be granted hereunder, by the Compensation Committee; provided, however, that for all purposes of the Plan all actions of the
Compensation Committee shall require the approval of the Board of Directors. 
 (b) Authority of the Compensation Committee. Subject
to Section 3(a), the Compensation Committee shall have full discretionary power and authority, subject to such resolutions not inconsistent with the provisions of the Plan or applicable law as may from time to time be adopted by the Board, to
(a) interpret and administer the Plan and any instrument or agreement entered into under the Plan, (b) establish such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, and
(c) make any determination and take any other action that the Compensation Committee deems necessary or desirable for administration of the Plan. All questions of interpretation, administration and application of the Plan shall be determined in
good faith by a majority of the members of the Compensation Committee then in office, except that the Compensation Committee may authorize any one or more of its members, or any officer of the Company, to execute and deliver documents on behalf of
the Compensation Committee, and the determination of such majority shall be final and binding in all matters relating to the Plan. 
 (c)
Eligibility. Notwithstanding anything to the contrary set forth herein, neither the Compensation Committee nor the Board of Directors shall have the right or authority to make any adjustment or amendment to the Plan that would change the
class of individuals eligible for awards under the Plan. 
  

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 4. Number of Shares Issuable in Connection with Awards. 
 (a) Original Limit. The maximum aggregate number of shares of Common Stock that may be issued in connection with Awards granted under the Plan is
2,600,000 shares. The maximum number of shares that may be granted in connection with Awards granted under the Plan to any Participant during any calendar year shall not exceed 300,000 shares. 
 (b) Replenishment Provisions. Shares subject to any Awards that expire without being exercised or that are forfeited, shall again be available for
future grants of Awards. Shares subject to Awards that have been retained by the Company in payment or satisfaction of the purchase price or tax withholding obligation of an Award shall not count against the limit set forth in paragraph (a) above.
The Company shall not be under any obligation, however, to make any such future Awards. In addition, only the number of Shares delivered in the settlement of Stock Appreciation Rights shall count against the limit set forth in paragraph (a) above.

 (c) Adjustments. The limits provided for in this Section 4 shall be subject to adjustment as provided in Section 16(a). 

5. Eligible Persons. 
 Awards may
be granted or offered only to Eligible Persons. The Compensation Committee shall have the authority to select the individual Participants to whom Awards may be granted from among such class of Eligible Persons and to determine the number and form of
Awards to be granted to each Participant. 
 6. Agreement. 
 The terms and conditions of each grant or sale of Awards shall be embodied in an Agreement in a form approved by the Compensation Committee, which shall
contain terms and conditions not inconsistent with the Plan and which shall incorporate the Plan by reference. Each Agreement shall: (a) state the date as of which the Award was granted or sold, and (i) in the case of Options and Stock Appreciation
Rights, set forth the number of Options and Stock Appreciation Rights being granted to the Participant and the applicable Option Price and/or exercise price (for Stock Appreciation Rights) and expiration date(s), and (ii) in the case of Restricted
Shares and other Awards, set forth the number of Restricted Shares or other Awards being granted or offered to the Participant and, if applicable, the purchase price or other consideration for such Restricted Shares or other Awards; (b) set forth
the vesting schedule (if any); (c) set forth any other terms and conditions established by the Compensation Committee; (d) be signed by the recipient of the Award and a person designated by the Compensation Committee; and (e) be delivered to the
recipient of the Award. 
 7. Restrictions on Transfer. 
 (a) Restrictions on Transfer. No Restricted Share, Bonus Stock, Performance Share or Option Share or other share of Common Stock issued as or pursuant to any Award may be sold, transferred, assigned, pledged,
or otherwise encumbered or disposed of (or made the subject of any derivative transaction) to or with any third party (other than a Permitted Transferee); provided, however, that any such restriction on transfer shall terminate as to
any 

  

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such share when such share is no longer subject to any term, condition or other restriction under the Plan (other than Section 7(b)). No Option, Stock
Appreciation Right, Stock Unit or other Award not in the form of a share of Common Stock may be sold, transferred, assigned, pledged, or otherwise encumbered or disposed of (or made the subject of any derivative transaction) to or with any third
party other than a Permitted Transferee. Each Permitted Transferee (other than the Company) by will or the laws of descent and distribution or otherwise, of any Award (or share issued in respect thereof) shall, as a condition to the transfer thereof
to such Permitted Transferee, execute an agreement pursuant to which it shall become a party to the Agreement applicable to the transferor. 
 (b) No Participant will, directly or indirectly, offer, sell, assign, transfer, grant or sell a participation in, create any encumbrance on or otherwise dispose of any Award or any Shares with respect thereto (or solicit any offers to buy
or otherwise acquire, or take a pledge of, any Award or any Shares with respect thereto), in any manner that would conflict with or violate the 1933 Act. 
 8. Options. 
 (a) Terms of Options Generally. The Compensation Committee may grant Options
designated as Incentive Stock Options or Nonqualified Stock Options. Options may be granted to any Eligible Person. Each Option shall entitle the Participant to whom such Option was granted to purchase, upon payment of the relevant Option Price, one
share of Common Stock. Options granted under the Plan shall comply with the following terms and conditions: 
 (i) Option
Price. 
 A. The Option Price for shares purchased under an Option shall be as determined by the Compensation Committee,
but shall not be less than the Fair Market Value of the Common Stock as of the Date of Grant, except in the case of substitute awards issued by the Company in connection with an acquisition or other corporate transaction. 
 B. The Option Price for shares purchased under an Option shall be paid in full to the Company by delivery of consideration equal to the
product of the Option Price and the number of shares purchased, together with any amounts required to be withheld for tax purposes under Section 17(c) of this Plan. Such consideration must be paid before the Company will issue the shares being
purchased and must be in a form or a combination of forms acceptable to the Compensation Committee for that purchase, which forms may (but are not required to) include: 
 (A) cash; 
 (B) check or wire transfer; 
 (C) tendering (either actually or by attestation) shares of Common Stock already
owned by the Participant, provided that the shares have been held for the minimum period required by applicable accounting rules to avoid a charge to the Company’s earnings for financial reporting purposes or were not acquired from the Company
as compensation; 
  

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 (D) to the extent permitted by applicable law, Cashless Exercise; or 
 (E) such other consideration as the Compensation Committee may permit in its sole discretion; provided, however, that any
Participant may, at any time, exercise any Vested Option (or portion thereof) owned by him pursuant to a Cashless Exercise without any prior approval or consent of the Compensation Committee. 
 (ii) Vesting of Options. Each Option shall vest and become exercisable on such terms and conditions as shall be prescribed by the
Compensation Committee. 
 (iii) Duration of Options. Subject to earlier termination in accordance with the terms of
the Plan and the instrument evidencing the Option, the maximum term of an Option shall be as established for that Option by the Compensation Committee but in no event shall be greater than ten years from the Date of Grant. 
 (iv) Exercise Following Termination of Employment. Upon termination of a Participant’s employment with the Company and its
Subsidiaries, unless otherwise determined by the Compensation Committee in its sole discretion, the following terms and conditions shall apply: 
 A. if the Participant’s employment is terminated by the Company other than for Cause, or as a result of the Participant’s resignation for Good Reason, or as a result of death, Permanent Disability or
Retirement, the Participant (or, in the case of the Participant’s death, his Beneficiary) may exercise any Options, to the extent vested as of the date of such termination, at any time until the earlier of (I) the 60th day following the date of
such termination of employment, and (II) the expiration of the Option under the provisions of clause (iii) above; and 
 B. if
the Participant’s employment is terminated by the Company for Cause, or as a result of the Participant’s resignation other than for Good Reason, all of the Participant’s Options (whether or not vested) shall expire and be canceled
without any payment therefor as of the date of such termination. 
 Any Options not exercised within the applicable time period specified
above shall expire at the end of such period and be canceled without any payment therefor. 
 (v) Certain Restrictions.
Options granted hereunder shall be exercisable during the Participant’s lifetime only by the Participant. 
 (vi)
Stockholder Rights; Option and Share Adjustments. A Participant shall have no rights as a stockholder with respect to any shares of Common Stock issuable upon exercise of an Option until a certificate or certificates evidencing such shares
shall have been issued to such Participant. Except as otherwise provided by the Board of 

  

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Directors, no adjustment (including an adjustment of an Option’s exercise price) shall be made with respect to (A) outstanding Options for
dividends or other distributions, whether made with respect to Common Stock or otherwise, or (B) dividends, distributions or other rights in respect of any share of Common Stock for which the record date is prior to the date upon which the
Participant shall become the holder of record thereof. 
 (vii) Dividends and Distributions. Any shares of Common Stock
or other securities of the Company received by the Participant as a result of a stock dividend or other distribution in respect of Option Shares shall be subject to the same restrictions as such Option Shares. 
 (viii) Incentive Stock Options. Incentive Stock Options granted under this Plan shall be subject to the following additional
conditions, limitations and restrictions: 
 A. Incentive Stock Options may be granted only to employees of the Company or a
Subsidiary or parent corporation of the Company, within the meaning of Section 424 of the Code. 
 B. No Incentive Stock
Option may be granted under this Plan after the 10-year anniversary of the date on which the Plan is adopted by the Board or, if earlier, the date on which the Plan is approved by the Company’s stockholders. 
 C. The aggregate Fair Market Value (as of the Date of Grant) of the Common Stock with respect to which the Incentive Stock Options awarded
to any Participant first become exercisable during any calendar year may not exceed $100,000. For purposes of the $100,000 limit, the Participant’s Incentive Stock Options under this Plan and all other plans maintained by the Company and its
Subsidiaries will be aggregated. To the extent any Incentive Stock Option would exceed the $100,000 limit, the Incentive Stock Option will thereafter be treated as a Nonqualified Stock Option for all purposes. No Incentive Stock Option may be
granted to any individual who owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Subsidiary. 
 D. If the Compensation Committee exercises its discretion to permit an Incentive Stock Option to be exercised by a Participant more than
three months after the termination of a Participant’s employment for any reason (or more than 12 months if the Participant is permanently and totally disabled, within the meaning of Section 22(e) of the Code), the Incentive Stock Option
will thereafter be treated as a Nonqualified Stock Option for all purposes. For purposes of this subclause D, a Participant’s employment relationship will be treated as continuing uninterrupted during any period that the Participant is on
military leave, sick leave or another Approved Leave of Absence if the period of leave does not exceed 90 consecutive days, or a longer period to the extent that the Participant’s right to reemployment with the Company or a Subsidiary is
guaranteed by statute or by contract. If the period of leave exceeds 90 consecutive days and the Participant’s right to reemployment is not guaranteed by statute or contract, the employment relationship will be deemed to have ceased on the 91st
day of the leave. 
  

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 (ix) Additional Terms and Conditions. Each Option granted hereunder, and any
shares of Common Stock issued in connection with such Option, shall be subject to such additional terms and conditions not inconsistent with the Plan as are prescribed by the Compensation Committee and set forth in the applicable Agreement.

 (b) Unvested Options. Upon termination of a Participant’s employment with the Company and its Subsidiaries, all Options
granted to such Participant that have not theretofore vested (and which do not vest by reason of such termination of employment) shall terminate and be canceled without any payment therefor. 
 9. Restricted Shares and Bonus Shares. 
 (a) Terms of Restricted Shares and Bonus Shares Generally. Restricted Shares and Bonus Shares awarded by the Compensation Committee shall not require payment of any consideration by Participants, except as otherwise determined by the
Compensation Committee in its sole discretion. 
 (b) Restricted Shares and Bonus Shares shall comply with the following terms and
conditions: 
 (i) Vesting. Any Awards of Restricted Shares shall vest in accordance with a vesting schedule to be
specified by the Compensation Committee. Except (A) with respect to grants to the Company’s non-employee directors, or (B) as vesting may be accelerated pursuant to the terms of the Plan, such restrictions shall not terminate prior to
three years after the Date of Grant. Bonus Shares shall be fully vested when granted. 
 (ii) Stockholder Rights.
Unless otherwise determined by the Compensation Committee in its sole discretion, a Participant shall have all rights of a stockholder as to the Restricted Shares and Bonus Shares awarded to such Participant, including the right to receive dividends
and the right to vote in accordance with the Company’s Certificate of Incorporation, subject to the restrictions set forth in the Plan and the applicable Agreement. 
 (iii) Dividends and Distributions. Any shares of Common Stock or other securities of the Company received by a Participant as a
result of a stock distribution to holders of Restricted Shares or as a stock dividend on Restricted Shares shall be subject to the same restrictions as such Restricted Shares or Bonus Shares and all references to Restricted Shares or Bonus Shares
hereunder shall be deemed to include such shares of Common Stock or other securities. 
 (iv) Additional Terms and
Conditions. Each Restricted Share and Bonus Share granted or offered for sale hereunder shall be subject to such additional terms and conditions not inconsistent with the Plan as are prescribed by the Compensation Committee and set forth in the
applicable Agreement. 
  

 11 

 (c) Unvested Restricted Shares. Unless otherwise determined by the Compensation Committee in its
sole discretion, upon termination of a Participant’s employment with the Company and its Subsidiaries, all Restricted Shares granted or sold to such Participant that have not theretofore vested (and that do not vest by reason of such
termination of employment) shall terminate and be canceled without any payment therefor. 
 10. Stock Appreciation Rights. 

Stock Appreciation Rights may be granted to Participants either alone (“freestanding”) or in addition to or in tandem with other
Awards granted under the Plan and may, but need not, relate to a specific Option granted hereunder. The provisions of Stock Appreciation Rights need not be the same with respect to each grant or each recipient. Any Stock Appreciation Right granted
in tandem with an Option may be granted at the same time such Option is granted or at any time thereafter before exercise or expiration of such Option. All Stock Appreciation Rights granted under the Plan shall be granted subject to the same terms
and conditions applicable to Nonqualified Stock Options as set forth in Section 8(a); provided, however, that Stock Appreciation Rights granted in tandem with a previously granted Option shall have the terms and conditions as such
Option. Subject to the provisions of Section 8, the Compensation Committee may impose such other conditions or restrictions on any Stock Appreciation Right as it shall deem appropriate. Stock Appreciation Rights may be settled in Common Stock
or cash as determined by the Compensation Committee in its sole discretion. 
 11. Stock Units. 
 The Compensation Committee may also grant Awards of Stock Units under the Plan. With respect to each grant of Stock Units, the Compensation Committee
shall determine in its sole discretion the period or periods, including any conditions for determining such period or periods, during which any restrictions on vesting shall apply, provided that in no event, other than in connection with a
termination of employment, or with respect to grants to non-employee directors, shall such period or periods be less than three years (the “Unit Restriction Period”). The Compensation Committee may also make any Award of Stock Units
subject to the satisfaction of other conditions, including the attainment of performance goals, or contingencies (“Unit Vesting Condition”), in order for a Participant to receive payment of such Stock Unit Award, which shall be
established by the Compensation Committee at the Date of Grant thereof. The Compensation Committee may specify that the grant, vesting or retention of any or all Stock Units shall be a measure based on one or more Qualifying Performance Criteria
selected by the Compensation Committee and specified at the Date of Grant thereof. If required by Section 162(m) of the Code, the Compensation Committee shall certify the extent to which any Qualifying Performance Criteria have been satisfied,
and the amount payable as a result thereof, prior to payment of any Stock Units that are intended to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code. Awards of Stock Units shall be
payable in Common Stock or cash as determined by the Compensation Committee in its sole discretion. The Compensation Committee may permit a Participant to elect to defer receipt of payment of all or part of any Award of Stock Units pursuant to rules
and regulations adopted by the Compensation Committee. Unless the Compensation Committee provides otherwise at the Date of Grant of an Award of Stock Units, the provisions of Section 9 of this Plan relating to the vesting of Restricted Shares
shall apply during the Unit Restriction Period or prior to the satisfaction of any Unit Vesting Condition for such Award. 
  

 12 

 12. Performance Shares. 
 The Compensation Committee may grant Awards of Performance Shares and designate the Participants to whom Performance Shares are to be awarded and
determine the number of Performance Shares, the length of the performance period and the other terms and conditions of each such Award. Each Award of Performance Shares shall entitle the Participant to a payment in the form of shares of Common Stock
upon the attainment of performance goals (which may be Qualifying Performance Criteria) and other terms and conditions specified by the Compensation Committee. Notwithstanding satisfaction of any performance goals, the number of shares issued under
an Award of Performance Shares may be adjusted on the basis of such further considerations as the Compensation Committee shall determine, in its sole discretion. However, the Compensation Committee may not, in any event, increase the number of
shares earned upon satisfaction of any performance goal by any Participant subject to Section 162(m) of the Code to the extent such Section is applicable. The Compensation Committee, in its sole discretion, may make a cash payment equal to the
Fair Market Value of the Common Stock otherwise required to be issued to a Participant pursuant to an Award of Performance Shares. 
 13.
Other Stock-Based Awards. 
 In addition to the Awards described in Sections 8 through 12, and subject to the terms of the Plan, the
Compensation Committee may grant other incentives payable in cash or in shares of Common Stock under the Plan as it determines to be in the best interests of the Company and subject to such other terms and conditions as it deems appropriate.

 14. Performance-Based Awards. 
 (a) Performance Criteria. Awards of Options, Restricted Shares, Stock Units, Performance Shares and other Awards made pursuant to the Plan may be made subject to the attainment of performance goals relating to one or more business
criteria. For purposes of the Plan, such business criteria shall mean any one or more of the following performance criteria, either individually, alternatively or in any combination: (a) cash flow; (b) earnings (including, without
limitation, gross margin, earnings before interest and taxes (“EBIT”), earnings before taxes (“EBT”), earnings before interest, taxes, depreciation and amortization (“EBITDA”), and net earnings);
(c) earnings per share; (d) growth in earnings or earnings per share; (e) stock price; (f) return on equity or average stockholders’ equity; (g) total stockholder return; (h) return on capital; (i) return on
assets or net assets; (j) return on investment; (k) sales, growth in sales or return on sales; (l) income or net income; (m) operating income or net operating income; (n) operating profit or net operating profit;
(o) operating margin; (p) return on operating revenue; (q) economic profit, (r) market share; (s) overhead or other expense reduction; (t) growth in stockholder value relative to various indices, including, without
limitation, the S&P 500 Index or the Russell 2000 Index, (u) strategic plan development and implementation, (v) net debt, (w) working capital (including components thereof), and (x) during the “reliance period” (as
defined in Treasury Regulation section 1.162-27(f)(2)), any other performance measure selected by the Compensation Committee in its sole discretion (collectively, the “Qualifying Performance  

  

 13 

 
Criteria”). To the extent required by or consistent with Section 162(m) of the Code, the Compensation Committee may appropriately adjust any
evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occur during a performance period: (z) asset write-downs or write-ups, (aa) litigation, claims, judgments or settlements, (bb) the effect
of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (cc) accruals for reorganization and restructuring programs, (dd) any extraordinary, unusual or non-recurring 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 stockholders for the applicable year, and (ee) amounts paid in
reimbursement to stockholders pursuant to agreements in place at the 2004 Closing. 
 (b) Any Performance Criteria may be used to measure the
performance of the Company as a whole or with respect to any business unit, subsidiary or business segment of the Company, either individually, alternatively or in any combination, and may be measured either annually or cumulatively over a period of
years, on an absolute basis or relative to a pre-established target, to previous period results or to a designated comparison group, in each case as specified by the Compensation Committee in the Award. To the extent required by Section 162(m) of
the Code, prior to the payment of any compensation under an Award intended to qualify as “performance-based compensation” under Code Section 162(m), the Compensation Committee shall certify the extent to which any such Performance Criteria
and any other material terms under such Award have been satisfied (other than in cases where such relate solely to the increase in the value of the Common Stock). To the extent Section 162(m) of the Code is applicable, the Compensation Committee may
not in any event increase the amount of compensation payable to a Participant subject to Section 162(m) of the Code upon the satisfaction of any Performance Criteria. 
 15. Certain Forfeitures. 
 In the event a Participant or former Participant engages in a Competing
Business or in Wrongful Solicitation while in the employ of the Company or a Subsidiary, or during the period of 13 months immediately following termination of such employment, the following rules shall apply: 
 (a) all Awards then held by the Participant (whether vested or not) shall be forthwith forfeited without payment or other compensation of any kind;
provided, however, that the Company shall remit to the Participant the lesser of (1) the amount (if any) he paid for forfeited Awards and (2) in the case of Restricted Shares or Performance Shares, the Fair Market Value of such
Restricted Shares as of the date of termination; 
 (b) notwithstanding subclause (a), in the event Vested Restricted Shares or vested
Performance Shares were disposed of (for or without receipt of value) during the period commencing one year prior to the initial engagement in a Competing Business or in Wrongful Solicitation through the 13-month anniversary of his termination of
employment with the Company or a Subsidiary, then, upon written demand by the Company, the Participant or former Participant, as the case may be, shall forthwith remit to the Company the Fair Market Value of such Vested Restricted Shares or vested
Performance Shares, as determined on the date of disposition, less the amount (if any) paid by the Participant for such shares; and 
  

 14 

 (c) in the event Option Shares, Shares obtained pursuant to the exercise of a Stock Appreciation Right or
other Shares obtained pursuant to Awards under the Plan (and not described in subparagraph (b)) were disposed of (for or without receipt of value) during the period commencing one year prior to the initial engagement in a Competing Business or in
Wrongful Solicitation through the 13-month anniversary of his termination of employment with the Company or a Subsidiary, then, upon written demand by the Company, the Participant or former Participant, as the case may be, shall forthwith remit to
the Company the Fair Market Value of such Shares, as determined on the date of disposition, less the Option Price or other amount (if any) paid therefor. 
 16. Effect of Certain Corporate Changes and Changes in Control. 
 (a) Dilution and Other
Adjustments. If the Outstanding shares of Common Stock or other securities of the Company, or both, for which the Award is then exercisable or as to which the Award is to be settled shall at any time be changed or exchanged by declaration of a
stock dividend, stock split, combination of shares, extraordinary dividend of cash and/or assets, recapitalization, or reorganization, the Compensation Committee may, and if such event occurs after a Change of Control, the Compensation Committee
shall, appropriately and equitably adjust the number and kind of shares of Common Stock or other securities that are subject to the Plan or subject to any Awards theretofore granted, and the exercise or settlement prices of such Awards, so as to
maintain the proportionate number of shares of Common Stock or other securities without changing the aggregate exercise or settlement price. 
 (b) Change in Control. The Compensation Committee may provide, either at the time an Award is granted or thereafter, that a Change in Control shall have such effect as is specified by the Compensation Committee, or no effect, as the
Compensation Committee in its sole discretion may provide. Without limiting the foregoing, the Compensation Committee may provide, either at the Date of Grant of an Award or thereafter, that if such a Change in Control occurs, then effective as of a
date selected by the Compensation Committee, the Compensation Committee, acting in its sole discretion without the consent or approval of any Participant, will effect one or more of the following actions or combination of actions with respect to
some or all outstanding Awards (which actions may be conditional on the occurrence of such Change in Control and which may vary among individual Participants): (1) accelerate the time at which Awards then outstanding vest and (as applicable) may be
exercised in full for a limited period of time on or before a specified date (which will permit the Participant to participate with the Common Stock received upon exercise of an Option, a Stock Appreciation Right or another Award in the event of
such Change in Control) fixed by the Compensation Committee, after which specified date all unexercised Awards and all rights of Participants thereunder shall terminate, (2) accelerate the time at which Awards then outstanding vest (and, in the case
of Options and Stock Appreciation Rights, may be exercised so that such Options and Stock Appreciation Rights may be exercised in full for their then remaining term), (3) require the mandatory surrender to the Company of outstanding Awards held by
such Participant (irrespective of whether such Awards are then vested or exercisable under the provisions of the Plan) as of a date, before or not later than 60 days after such Change in Control, specified by the 

  

 15 

 
Compensation Committee, and in such event the Compensation Committee shall thereupon cancel such Awards and the Company shall pay to each Participant an
amount of cash equal to the excess of the Fair Market Value of the aggregate shares of Common Stock subject to such Award over the aggregate price (if any) of such shares, or (4) take such other actions as the Compensation Committee deems
appropriate in its discretion (whether or not related to any of the foregoing). 
 17. Miscellaneous. 
 (a) No Rights to Grants or Continued Employment or Engagement. No Participant shall have any claim or right to receive grants of Awards under the
Plan. Neither the Plan nor any action taken or omitted to be taken hereunder shall be deemed to create or confer on any Participant any right to be retained in the employ or as a director of the Company or any Subsidiary or other Affiliate thereof,
or to interfere with or to limit in any way the right of the Company or any Subsidiary or other Affiliate thereof to terminate the employment or other retention of such Participant at any time. 
 (b) Right of Company to Assign Rights and Delegate Duties. The Company shall have the right to assign any of its rights and delegate any of its
duties hereunder to any of its Affiliates. The terms and conditions of any Award under the Plan shall be binding upon and shall inure to the benefit of the personal representatives, heirs, legatees and permitted successors and assigns of the
relevant Participant and the Company. 
 (c) Tax Withholding. The Company and its Subsidiaries may require the Participant to pay to
the Company the amount of any taxes that the Company is required by applicable federal, state, local or other law to withhold with respect to the grant, vesting or exercise of an Award. The Company shall not be required to issue any shares of Common
Stock under the Plan until such obligations are satisfied in full. The Compensation Committee may in its sole discretion permit or require a Participant to satisfy all or part of his or her tax withholding obligations by (1) paying cash to the
Company, (2) having the Company withhold a number of shares of Common Stock that would otherwise be issued to the Participant (or become vested in the case of Restricted Shares), having a Fair Market Value equal to the tax withholding
obligations, (3) surrendering a number of shares of Common Stock the Participant already owns, having a Fair Market Value equal to the tax withholding obligations, or (4) entering into such other arrangement as is acceptable to the
Compensation Committee in its sole discretion. The value of any shares withheld or surrendered may not exceed the employer’s minimum tax withholding obligation and, to the extent such shares were acquired by the Participant from the Company as
compensation, the shares must have been held for the minimum period required by applicable accounting rules to avoid a charge to the Company’s earnings for financial reporting purposes. The Company and its Subsidiaries shall also have the right
to deduct from any and all cash payments otherwise owed to a Participant any federal, state, local or other taxes required to be withheld with respect to the Participant’s participation in the Plan. 
 (d) No Restriction on Right of Company to Effect Corporate Changes. The Plan shall not affect in any way the right or power of the Company or its
stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of 

  

 16 

 
stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or
affect the Common Stock or the rights thereof or that are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other
corporate act or proceeding, whether of a similar character or otherwise. 
 (e) 1934 Act. Notwithstanding anything contained in the
Plan or any Agreement to the contrary, if the consummation of any transaction under the Plan would result in the possible imposition of liability on a Participant pursuant to Section 16(b) of the 1934 Act, the Compensation Committee shall have
the right, in its sole discretion, but shall not be obligated, to defer such transaction to the extent necessary to avoid such liability. 
 (f) Securities Laws. Notwithstanding any other provision of the Plan, the Company shall have no obligation to issue or deliver any shares of Common Stock under the Plan or make any other distribution of benefits under the Plan
unless, in the judgment of the Compensation Committee, such issuance, delivery or distribution would comply with all applicable laws (including, without limitation, the requirements of the 1933 Act and 1934 Act or the laws of any state or foreign
jurisdiction) and the applicable requirements of any securities exchange or similar entity. 
 (g) Severability. If any provision of
the Plan or any Award is determined to be invalid, illegal or unenforceable in any jurisdiction, or as to any Person, or would disqualify the Plan or any Award under any law deemed applicable by the Compensation Committee, such provision shall be
construed or deemed amended to conform to applicable laws, or, if it cannot be so construed or deemed amended without, in the Compensation Committee’s determination, materially altering the intent of the Plan or the Award, such provision shall
be stricken as to such jurisdiction, person or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (h) Vesting Restrictions. Notwithstanding anything to the contrary contained in the Plan, the minimum period over which full-value, performance-based awards and full-value, tenure-based awards granted under the Plan may vest shall be
one (1) year and three (3) years, respectively; provided, however, that up to five percent (5%) of the shares authorized under the Plan shall not be subject to such restrictions; and, provided, further, that such restrictions shall
not affect or otherwise limit any acceleration of vesting pursuant to the Plan or set forth in the applicable Agreement. 
 18.
Amendment. 
 The Board of Directors may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in
part. No termination or amendment of the Plan may, without the consent of the Participant to whom any Awards shall previously have been granted, adversely affect the rights of such Participant in such Awards. In addition, no amendment of the Plan
shall, without the approval of the stockholders of the Company: 
 A. increase the maximum number of shares of Common Stock
for which Awards may be granted under this Plan; 
  

 17 

 B. reduce the price at which Options may be granted below the price provided for in
Section 8(a) hereof; 
 C. reduce the Option Price of outstanding Options; or 
 D. extend the term of this Plan. 
 19. Termination of the Plan. 
 The Plan shall continue until terminated by the Board of Directors pursuant to Section 18 or
as otherwise set forth in this Plan, and no further Awards shall be made hereunder after the date of such termination. Unless earlier terminated, the Plan shall terminate ten (10) years after its initial approval by the Board of Directors (provided
the awards granted before that date shall continue in accordance with their terms). 
 20. Conditions to Issuance of Shares.

 (a) The Company shall be under no obligation to any Participant to register for offering or resale or to qualify for exemption under the
1933 Act, or to register or qualify under the laws of any state or foreign jurisdiction, any shares of Common Stock, security or interest in a security paid or issued under, or created by, the Plan, or to continue in effect any such registrations or
qualifications if made. The Company may issue certificates for shares with such legends and subject to such restrictions on transfer and stop-transfer instructions as the Compensation Committee deems necessary or desirable for compliance by the
Company with federal, state and foreign securities laws. The Company may also require such other action or agreement by the Participants as may from time to time be necessary to comply with applicable securities laws. 
 (b) To the extent the Plan or any instrument evidencing an Award provides for issuance of stock certificates to reflect the issuance of shares of Common
Stock, the issuance may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the applicable rules of any stock exchange. 
 21. Headings; Number; Gender. 
 The headings of sections and subsections herein are included solely
for convenience of reference and shall not affect the meaning of any of the provisions of the Plan. 
 Words used herein in the singular form
shall be construed as being used in the plural form, as appropriate in the relevant context, and vice versa. Pronouns used herein of one gender shall be construed as referring to either or both genders, as appropriate in the relevant context.

 22. Limited Waiver. 
 The waiver by the Company of any of its rights under the Plan with respect to any Participant, whether express or implied, shall not operate or be construed as a waiver of any other rights the Company has with respect to such Participant or
of any of its rights with respect to any other Participant. 
  

 18 

 23. Governing Law. 
 The Plan and all rights hereunder shall be governed by and construed in accordance with the laws of the State of New York without reference to rules relating to conflicts of law. 
 24. Compliance with Section 409A of the Code 
 This Plan is intended to comply and shall be administered in a manner that is intended to comply with Section 409A of the Code and shall be construed and interpreted in accordance with such intent. To the extent
that an Award or the payment, settlement or deferral thereof is subject to Section 409A of the Code, the Award shall be granted, paid, settled or deferred in a manner that will comply with Section 409A of the Code, including regulations or
other guidance issued with respect thereto, except as otherwise determined by the Compensation Committee. Any provision of this Plan that would cause the grant of an Award or the payment, settlement or deferral thereof to fail to satisfy
Section 409A of the Code shall be amended to comply with Section 409A of the Code on a timely basis, which may be made on a retroactive basis, in accordance with regulations and other guidance issued under Section 409A of the Code.

 25. Effective Date. 
 The Plan shall become effective upon adoption by the Board of Directors, subject to approval by the stockholders of the Company. 
  

 19

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