Document:

Exhibit 4.1

  
 Exhibit
4.1         
  
  

HUSKY ENERGY INC. 
  

INCENTIVE STOCK OPTION PLAN 
  

 
 February 28, 2011 

 
  
  

  

 HUSKY ENERGY INC. 

AMENDED INCENTIVE STOCK OPTION PLAN 
  

							
	 Section 1 – PURPOSE OF THE PLAN
	  	 	1	  
			
	 1.1
	  	Purpose	  	 	1	  
		
	 Section 2 – DEFINITIONS AND INTERPRETATION
	  	 	1	  
			
	 2.1
	  	Definitions	  	 	1	  
	 2.2
	  	Interpretation	  	 	3	  
		
	 Section 3 – GENERAL PROVISIONS OF THE PLAN
	  	 	3	  
			
	 3.1
	  	Administration	  	 	3	  
	 3.2
	  	Shares Reserved	  	 	4	  
	 3.3
	  	Eligibility	  	 	4	  
	 3.4
	  	Non-Exclusivity	  	 	4	  
	 3.5
	  	Amendment of Plan and Options	  	 	4	  
	 3.6
	  	Compliance with Laws and Stock Exchange Rules	  	 	6	  
		
	 Section 4 – GRANT OF OPTIONS
	  	 	6	  
			
	 4.1
	  	Option Agreement	  	 	6	  
	 4.2
	  	Exercise Price	  	 	6	  
	 4.3
	  	Time of Exercise	  	 	6	  
	 4.4
	  	Expiry Date	  	 	7	  
	 4.5
	  	Early Expiry	  	 	7	  
	 4.6
	  	Non-Assignable	  	 	7	  
	 4.7
	  	No Rights as Shareholder or to Remain an Eligible Person	  	 	8	  
	 4.8
	  	Adjustments to Common Shares	  	 	8	  
		
	 Section 5 – EXERCISE OF OPTIONS
	  	 	9	  
			
	 5.1
	  	Manner of Exercise	  	 	9	  
	 5.2
	  	Surrender of Stock Options in Lieu of Exercise	  	 	9	  
	 5.3
	  	Delivery of Share Certificate	  	 	9	  
	 5.4
	  	Reduction of Common Shares Reserved	  	 	9	  
		
	 Section 6 – MISCELLANEOUS
	  	 	10	  
			
	 6.1
	  	Conflict	  	 	10	  
	 6.2
	  	Entire Agreement	  	 	10	  
		
	 Schedule A – OPTION AGREEMENT
	  			

  

 SECTION 1 – PURPOSE OF THE PLAN 

 

	1.1	Purpose 

 The purpose of
the Incentive Stock Option Plan is to enable the Company in appropriate circumstances to offer ownership interests in the Company through stock options in order to assist the Company and its Subsidiaries to attract and retain officers and employees
of outstanding ability, competence and potential. 
 SECTION 2 – DEFINITIONS AND INTERPRETATION

  

	2.1	Definitions 

 For the
purposes of this Plan, the following terms will have the following meanings: 
  

	(a)	“Black Out Expiry Date” has the meaning set out in Subsection 4.4(b); 

 

	(b)	“Black Out Period” means the period during which trading in Common Shares by certain persons is restricted pursuant to the Company’s Corporate
Communications, Disclosure and Insider Trading/Reporting Policy; 

  

	(c)	“Board” means the Board of Directors of the Company; 

  

	(d)	“Change of Control” means: 

  

	 	(i)	the acquisition by any person or company, or any persons or companies which, together with all other voting securities of the Company, acting jointly or in concert (as
determined in accordance with the Securities Act (Alberta)), whether directly or indirectly, of voting securities of the Company which constitute, in the aggregate, more than 30% of all outstanding voting securities of the Company;

  

	 	(ii)	an amalgamation, arrangement or other form of business combination of the Company with another company which results in the holders of voting securities of that other
company holding, in the aggregate, 30% or more of all outstanding voting securities of the Company (including a merged or successor company) resulting from the business combination; 

 

	 	(iii)	the sale, lease or exchange of all or substantially all of the property of the Company, other than in the ordinary course of business of the Company or to a Subsidiary,
to another person or company; 

 Provided that any event or transaction contemplated in paragraph (i) or
(ii) shall not constitute a Change in Control for purposes of this Plan if following same 30% or more of the voting securities of the Company are or remain held directly or indirectly by: 

 

	 	(iv)	any member of the immediate family of Mr. Li Ka Shing; 

  

	 	(v)	Hutchison Whampoa Limited; 

  

	 	(vi)	any company or other person controlled directly or indirectly in any manner whatever whether through the ownership of voting securities or otherwise in fact by a person
referred to in paragraph (iv) or (v); 

  

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	 	(vii)	any trust or estate in which a person referred to in paragraph (iv), (v) or (vi) is beneficially interested, or; 

 

	 	(viii)	any combination of persons, trusts or estates referred to any of paragraphs (iv) to (vii) inclusive. 

 

	(e)	“Common Shares” means common shares of the Company; 

  

	(f)	“Company” means Husky Energy Inc. and any successor company thereto; 

 

	(g)	“Eligible Person” means any officer or employee of the Company or any Subsidiary; 

 

	(h)	“Exercise Price” means the price per Common Share at which Common Shares may be subscribed for by an Optionholder pursuant to a particular Option
Agreement; 

  

	(i)	“Expiry Date” means the date on which an Option expires pursuant to the Option Agreement relating to that Option unless extended to the Black Out
Expiry Date; 

  

	(j)	“Grant Date” means the date on which an Option is granted as set out in the Option Agreement relating to that Option; 

 

	(k)	“Insider” means: 

  

	 	(i)	an insider as defined in the Securities Act (Alberta), other than a director or a person who falls within that definition solely by virtue of being a director or
senior officer of a Subsidiary; 

  

	 	(ii)	an associate, as defined in the Securities Act (Alberta), of any person who is an insider by virtue of (i) above; and 

 

	 	(iii)	an employee who through the course of his/her duties becomes aware of events that are material to the Company but not yet made public to all shareholders;

  

	(l)	“Option” means an option to purchase Common Shares granted to an Eligible Person pursuant to the terms of the Plan; 

 

	(m)	“Option Agreement” means an agreement, substantially in the form of the agreement set out in Schedule A to this Plan, between the Company and an
Eligible Person setting out the terms of an Option granted to the Eligible Person; 

  

	(n)	“Optioned Shares” means the Common Shares that may be subscribed for by an Optionholder pursuant to a particular Option Agreement;

  

	(o)	“Optionholder” means an Eligible Person to whom an Option has been granted; 

 

	(p)	“Plan” means this Incentive Stock Option Plan of the Company, as amended from time to time; 

 

	(q)	“Share Compensation Arrangement” means any stock option, stock option plan, employee stock purchase plan or any other compensation or incentive
mechanism involving the issuance or potential issuance of Common Shares, including a share purchase from treasury which is financially assisted by the Company by way of a loan, guarantee or otherwise; 

  

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	(r)	“Subsidiary” means any company that is a subsidiary of the Company as defined in the Securities Act (Alberta); and 

 

	(s)	“Vesting Date” means, the date upon which Optioned Shares shall vest in accordance with the terms of the Plan and an Eligible Person’s Option
Agreement. 

  

	2.2	Interpretation 

  

	(a)	Time shall be of the essence of this Plan. 

  

	(b)	Words denoting the singular number include the plural and vice versa and words denoting the masculine include the feminine. 

 

	(c)	This Plan and all matters to which reference is made herein will be governed by and interpreted in accordance with the laws of Alberta and the laws of Canada applicable
therein. 

 SECTION 3 – GENERAL PROVISIONS OF THE PLAN 

 

	3.1	Administration 

  

	(a)	Unless otherwise directed by the Board, the Compensation Committee of the Board of the Company will: 

 

	 	(i)	administer the Plan; 

  

	 	(ii)	interpret the Plan and determine all questions arising out of the Plan and any option granted pursuant to the Plan, which interpretations will be conclusive and binding
on the Company and all other affected persons unless otherwise determined by the Board; 

  

	 	(iii)	prescribe the form of Option Agreement with respect to a particular award of Options, if other than as set out in Schedule A to this Plan; 

 

	 	(iv)	determine and award any Options; 

  

	 	(v)	in formulating recommendations under paragraph (iv), above, seek and consider the advice and recommendations of the CEO with respect to all awards of Options other than
awards of Options for the CEO; and 

  

	 	(vi)	cause the Company to maintain records in respect of all administrative records under the Plan and the Company will be responsible for all costs of administration of the
Plan, including the fees of all advisors or consultants retained by the Compensation Committee in its sole discretion to assist in the performance of its duties under the Plan. 

 

	(b)	Chief Executive Officer 

 The CEO will be authorized to sign Option Agreements in respect of all Options the award of which is approved under paragraph (a) except for any Option Agreement with the CEO which will be signed by
an authorized member of the Board. 

  

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	3.2	Shares Reserved 

  

	(a)	The maximum number of Common Shares that may be reserved for issuance pursuant to Options granted under the Plan shall be 84,000,000 or such additional amount as may be
approved from time to time by the shareholders of the Company. 

  

	(b)	The number of Common Shares issuable to any one Eligible Person under the Plan, together with all of the Company’s other previously established or proposed Share
Compensation Arrangements, shall not exceed 1% of the total number of issued and outstanding Common Shares on a non-diluted basis. The number of Common Shares which may be reserved for issue pursuant to Options granted to Insiders under the Plan,
together with all of the Company’s other previously established or proposed Share Compensation Arrangements, in aggregate, shall not exceed 10% of the total number of issued and outstanding Common Shares on a non-diluted basis. The number of
Common Shares which may be issued under the Plan, together with all of the Company’s other previously established or proposed Share Compensation Arrangements, within a one-year period: 

 

	 	(i)	to Insiders in aggregate, shall not exceed 10% of the outstanding issue; and 

 

	 	(ii)	to any one Optionholder who is an Insider, shall not exceed 1% of the outstanding issue. 

For purposes of this section, Common Shares issued pursuant to an entitlement granted prior to the Optionholder becoming an Insider may
be excluded in determining the number of Common Shares issuable to Insiders. For the purposes of subsections (i) and (ii) above, “outstanding issue” is determined on the basis of the number of Common Shares that are outstanding
immediately prior to the share issuance in question, excluding Common Shares issued pursuant to Share Compensation Arrangements over the preceding one-year period. 
  

	(c)	Any Common Shares subject to an Option that expires or terminates without having been fully exercised will be included back in the allotment available for future
awards. No fractional Common Shares may be issued under the Plan. 

  

	3.3	Eligibility 

Options may be granted under this Plan to any Eligible Person, subject to the limitations set forth in Section 3.2(b). 

 

	3.4	Non-Exclusivity 

Nothing contained in this Plan will prevent the Board from adopting other or additional Share Compensation Arrangements, subject to
obtaining any required regulatory or shareholder approvals. 
  

	3.5	Amendment of Plan and Options 

  

	(a)	Subject to Subsection 3.5(b) and 3.5(c), the Board may at any time or from time to time, in its sole and absolute discretion and without the approval of the
shareholders of the Company, amend, suspend, terminate or discontinue the Plan and may amend the terms and conditions of Options granted pursuant to the Plan, subject to any required approval of any regulatory authority or stock exchange, including
without limiting the generality of the foregoing, where the amendment: 

  

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	 	(i)	is for the purpose of curing any ambiguity, error or omission in the Plan or to correct or supplement any provision of the Plan that is inconsistent with any other
provision of the Plan; 

  

	 	(ii)	is necessary to comply with applicable law or the requirements of any stock exchange on which the Common Shares are listed; 

 

	 	(iii)	is an amendment to the Plan respecting administration and eligibility for participation under the Plan; 

 

	 	(iv)	changes the terms and conditions on which Options may be granted pursuant to the Plan including the provisions relating to Exercise Price, vesting provisions and Expiry
Date; 

  

	 	(v)	is to alter, extend or accelerate the terms and conditions of vesting applicable to any Option; 

 

	 	(vi)	is to accelerate the Expiry Date of any Option; 

  

	 	(vii)	is to determine the adjustment provisions pursuant to Section 4.8 hereof; 

 

	 	(viii)	amends the definitions contained within the Plan; 

  

	 	(ix)	amends or modifies the mechanics of exercise of Options; 

  

	 	(x)	changes the termination provisions of an Option or the Plan which does not entail an extension beyond the original Expiry Date; or 

 

	 	(xi)	is an amendment to the Plan of a “housekeeping nature”. 

  

	(b)	Subject to any required regulatory approval of any regulatory authority or stock exchange, the Board may amend the Exercise Price, the Expiry Date (which in no event
shall exceed 10 years from the date of grant) and the termination provisions of Options granted pursuant to the Plan, without shareholder approval, provided that if the Board proposes to reduce the Exercise Price (for this purpose, a cancellation or
termination of an Option prior to its Expiry Date for the purpose of re-granting the Option to the same Eligible Person with a lower Exercise Price shall be treated as an amendment to reduce the Exercise Price of the Option) or extend the Expiry
Date of Options granted to Insiders pursuant to the Plan, except as permitted by Subsection 4.4(b) hereof, such amendments will require shareholder approval, and the Insiders who will benefit from such amendments will not be entitled to vote.

  

	(c)	The approval of the shareholders of the Company will be required for amendments to the Plan which: 

 

	 	(i)	amend the number of Common Shares issuable under the Plan; 

  

	 	(ii)	add any form of financial assistance by the Company for the exercise of any Option; or 

 

	 	(iii)	change the class of Eligible Persons to the Plan which would have the potential of broadening or increasing participation by insiders of the Company.

  

	(d)	 If the Plan is terminated, the provisions of the Plan and any administrative guidelines and other rules and regulations adopted by the Board and in
force on the date of termination will continue in effect as long as any Option or any rights pursuant thereto remain outstanding and, 

  

- 6 - 
  

 

	 	
notwithstanding the termination of the Plan, the Board shall remain able to make such amendments to the Plan or the Options as they would have been entitled to make if the Plan were still in
effect. 

  

	3.6	Compliance with Laws and Stock Exchange Rules 

 The Plan, the grant and exercise of Options under the Plan and the Company’s obligation to issue Common Shares on exercise of Options will be subject to all applicable federal, provincial and foreign
laws, rules and regulations and the rules of any stock exchange on which the Common Shares are listed for trading. No Option will be granted and no Common Shares will be issued under the Plan where such grant or issue would require registration of
the Plan or of such Common Shares under the securities laws of any foreign jurisdiction and any purported grant of any Option or issue of Common Shares in violation of this provision will be void. Common Shares issued to Optionholders pursuant to
the exercise of Options may be subject to limitations on sale or resale under applicable securities laws. 

SECTION 4  –  GRANT OF OPTIONS 

 

	4.1	Option Agreement 

Upon the grant of an Option, the Company will deliver to the Optionholder an Option Agreement dated the Grant Date, containing the terms
of the Option and executed by the Company, and upon delivery to the Company of the Option Agreement executed by the Optionholder such Optionholder will be a participant in the Plan and have the right to purchase the Optioned Shares on the terms set
out in the Option Agreement and in the Plan. 
  

	4.2	Exercise Price 

The Exercise Price of Common Shares subject to an Option will be determined at the time of grant and will be not less than the weighted
average trading price per Common Share on the Toronto Stock Exchange for the five days preceding the Grant Date or, if the Common Shares are not listed on any stock exchange, at a price to be determined by the Board. 

 

	4.3	Time of Exercise 

An Option may be exercised by an Optionholder as follows: 

 

	(a)	On and after the first anniversary of the Grant Date, as to 33-1/3% of the Optioned Shares or any part thereof; 

 

	(b)	On and after the second anniversary of the Grant Date, as to an additional 33-1/3% of the Optioned Shares or any part thereof; 

 

	(c)	On and after the third anniversary of the Grant Date, as to an additional 33-1/3% of the Optioned Shares or any part thereof; and 

subject to the right of the Board to determine at the time of grant that a particular Option will be exercisable in whole or in part on
different dates and to determine after the Grant Date that a particular Option will be exercisable in whole or in part on earlier dates for any reason, including the occurrence of a proposal by the Company or any other person or company to implement
a transaction that would, if implemented, result in a Change of Control. 

  

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	4.4	Expiry Date 

  

	(a)	The Expiry Date of an Option will be five years after the Grant Date, subject to: 

 

	 	(i)	the right of the Board to determine at the time of grant that a particular Option will have a shorter or longer term (provided that no term shall exceed ten years);

  

	 	(ii)	the provisions of Section 4.5 relating to early expiry; and 

  

	 	(iii)	the provisions of Subsection 4.4(b). 

  

	(b)	In the event the Expiry Date of an Option is on a date during a Black Out Period applicable to the Eligible Person holding such Options, the Expiry Date shall be
extended to that date which is five business days following the lifting of the Black Out Period (the “Black Out Expiry Date”). In the event the Expiry Date of an Option is on a date within five business days after the lifting of a
Black Out Period applicable to the Eligible Person holding such Option, the Black Out Expiry Date shall be the date which is the fifth business day following the lifting of the Black Out Period. 

 

	4.5	Early Expiry 

  

	(a)	An Option will expire immediately upon the Optionholder ceasing to be an Eligible Person as a result of being dismissed from his office or employment for cause,
including where an Eligible Person resigns his office or employment after being requested to do so by the Company as an alternative to being dismissed or terminated by the Company for cause. 

 

	(b)	Taking into consideration that the Option award is a long-term incentive plan to motivate the employee to continue to perform and align with the interests of the
Company’s shareholders, an Option will expire before its Expiry Date in the following events and manner: 

  

	 	(i)	if an Optionholder dies, the portion of the Option that is exercisable at the date of death of the Optionholder may be exercised by the legal personal representatives
of the Optionholder during the period ending twelve (12) months after the death of the Optionholder; 

  

	 	(ii)	if an Optionholder resigns his office or employment (except where such resignation is requested by the Company pursuant to Section 4.5(a) above) or he is dismissed
without cause, the portion of the Option that is exercisable at the date of termination, excluding notice period, may be exercised by the Optionholder during the period ending ninety (90) days after the date of termination but no other future
Options are exercisable; and 

  

	 	(iii)	if an Optionholder retires or his/her employment is terminated due to permanent disability, the portion of the Option that is exercisable at the date of retirement or
termination may be exercised by the Optionholder during the period ending ninety (90) days after the date of retirement or termination; 

 subject in all cases to the earlier expiration of an Option on its applicable Expiry Date. 
  

	4.6	Non-Assignable 

Except as provided in Section 4.5(b)(i), an Option may be exercised only by the Optionholder and will not be assignable. 

  

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	4.7	No Rights as Shareholder or to Remain an Eligible Person 

  

	(a)	An Optionholder will only have rights as a shareholder of the Company with respect to those of the Optioned Shares that the Optionholder has acquired through exercise
of the Option in accordance with its terms. 

  

	(b)	Nothing in this Plan or in any Option Agreement will confer on any Optionholder any right to remain as an officer or employee of the Company or any Subsidiary.

  

	4.8	Adjustments to Common Shares 

 The number of Common Shares delivered to an Optionholder upon exercise of an Option will be adjusted in the following events and manner, subject to the right of the Board to make such other or additional
adjustments as are appropriate in the circumstances: 
  

	(a)	upon (i) a subdivision of the Common Shares into a greater number of Common Shares, (ii) a consolidation of the Common Shares into a lesser number of Common
Shares or (iii) the issue of a stock dividend (out of the ordinary course) to holders of the Common Shares, the Company will deliver upon exercise of an Option, in addition to or in lieu of the number of Optioned Shares in respect of which the
right to purchase is being exercised and without the Optionholder making any additional payment, such greater or lesser number of Common Shares as result from the subdivision, consolidation or stock dividend; 

 

	(b)	upon distribution by the Company to holders of the Common Shares of (i) shares of any class (whether of the Company or another company) other than Common Shares,
(ii) rights, options or warrants, (iii) evidences of indebtedness or (iv) cash (other than dividends in the ordinary course), securities or other property or assets, the Company will deliver upon exercise of an Option, in addition to
the number of Optioned Shares in respect of which the right to purchase is being exercised and without the Optionholder making any additional payment, such other securities, evidence or indebtedness or assets as result from such distribution;

  

	(c)	upon a capital reorganization, reclassification or change of the Common Shares, amalgamation, arrangement or other form of business combination of the Company with
another company or a sale, lease or exchange of all or substantially all of the property of the Company, the Company will deliver upon exercise of an Option, in lieu of the Optioned Shares in respect of which the right to purchase is being
exercised, the kind and amount of shares or other securities or property as result from such event; 

  

	(d)	an adjustment will take effect at the time of the event giving rise to the adjustment, and the adjustments provided for in this section are cumulative;

  

	(e)	the Company will not be required to issue fractional Common Shares or other securities under the Plan and any fractional interest in a Common Share or other security
that would otherwise be delivered upon the exercise of an Option will be cancelled; and 

  

	(f)	the Board’s determination of any adjustments required pursuant to this Section 4.8 shall be final and binding on all Optionholders. 

  

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 SECTION 5 – EXERCISE OF OPTIONS 

 

	5.1	Manner of Exercise 

An Optionholder who wishes to exercise an Option may do so by delivering the following to the Company on or before the Expiry Date of the
Option: 
  

	(a)	a completed Notice of Exercise, in the form prescribed by the Compensation Committee, from time to time; and 

 

	(b)	a cheque (which need not be a certified cheque) or, at the request of the Company, a bank draft payable to the Company for the aggregate Exercise Price for the Optioned
Shares being acquired plus an amount for applicable income tax required to be withheld and remitted by the Company to the applicable taxation authority as a result of the grant of such Option to the Optionholder. 

If the Optionholder is deceased, the Option may be exercised by the legal personal representatives of the Optionholder who, in addition
to delivering to the Company the Notice of Exercise and cheque of bank draft described above, must also deliver to the Company evidence of their status. 
  

	5.2	Surrender of Stock Options in Lieu of Exercise 

 Where the Common Shares are listed and posted for trading on a recognized stock exchange, an Optionholder may complete a Notice of Exercise in the form prescribed by the Compensation Committee, from time
to time, and surrender the options unexercised to the Company in consideration of the receipt by the Optionholder of an amount (the “Settlement Amount”) equal to the excess, if any, of the aggregate fair market value of the Common Shares
able to be purchased pursuant to the vested and exercisable portion of such Options on the date of surrender (the “Surrender Date”), over the aggregate Exercise Price for those Common Shares pursuant to those Options. The fair market value
on any date of the Common Shares is determined for the purposes hereof to be the weighted average trading price of the Common Shares on such stock exchange for the five days on which board lots of the Common Shares have traded following the
Surrender Date (or if there were no board lot trades on any of those days, then on the following day or days on which a board lot has traded on such exchange). The Settlement Amount is payable in cash and the Company will withhold from the
Settlement Amount such amounts as may be required to be withheld according to law. 
  

	5.3	Delivery of Share Certificate 

 Not later than three Company business days after receipt of the Notice of Exercise and payment in full for the Optioned Shares being exercised, the Company will direct its transfer agent to issue a
certificate in the name of the Optionholder (or, if deceased, his estate) for the number of Optioned Shares purchased by the Optionholder (or his estate), which will be issued as fully paid and non-assessable Common Shares. 

 

	5.4	Reduction of Common Shares Reserved 

 Upon the surrender of an Option and the receipt by the Optionholder of the Settlement Amount, notwithstanding that no Common Shares are issued, for each Option surrendered to the Company pursuant to
Section 5.2, the number of Common Shares reserved pursuant to Section 3.2 of the Plan for issuance pursuant to the exercise of Options shall be reduced by the number of Options so surrendered. 

  

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 SECTION 6 – MISCELLANEOUS 

 

	6.1	Conflict 

 In the
event of any conflict between the provisions of this Plan and an Option Agreement, the provisions of this Plan shall govern. 
  

	6.2	Entire Agreement 

This Plan and Option Agreement sets out the entire agreement between the Company and the Optionholder relative to the subject matter
hereof and supersedes all prior agreements, undertakings and understandings, whether oral or written. 

					
	Schedule A	 	HUSKY ENERGY INC.	 	
		 	 INCENTIVE STOCK OPTION PLAN

OPTION AGREEMENT
	 	

 This Option Agreement is entered into between Husky Energy Inc. (the “Company”) and the Optionholder named
below pursuant to the Husky Energy Inc. Incentive Stock Option Plan, as amended from time to time (the “Plan”), and confirms that: 
  

	 	1.	On • (the “Grant Date”), 

  

	 	2.	«First_Name» «Last_Name» (the “Optionholder”), 

 

	 	3.	 was granted non-assignable options to purchase «Time_Options_HS41» common shares of the Company exercisable as to 331/3% on the first anniversary of the Grant Date, then 331/3% on each of the second and third anniversary dates of the Grant Date, 

 

	 	4.	at a price (the “Exercisable Price”) of Cdn $• per Common Share, and 

 

	 	5.	for a term expiring at 12:00 p.m. (Noon) Calgary time on • (the “Expiry Date”), 

 all on the terms and subject to the conditions set out in the Plan. All capitalized terms used in the Option Agreement not otherwise defined shall have the meaning ascribed thereto in the Plan.

 By accepting this agreement, the Optionholder acknowledges that he or she has read and understands the Plan. 

 

			
	HUSKY ENERGY INC.
		
	By:	 	 
		 	

  

			
		
	By:	 	 
		 	

  

			
		
		 	 
		 	Name of Optionholder

  

			
		
		 	 
		 	Signature of OptionholderEX-10.13.2

 Exhibit 10.13.2 

L. B. Foster Company 
 2013 PERFORMANCE SHARE UNIT PROGRAM 
 (2013-2015) 

[DATE] 
 [NAME AND ADDRESS] 

Dear [NAME]: 
 Pursuant to the
terms and conditions of the L. B. Foster Company 2013 Performance Share Unit Program (the “Program”), a component of the Long Term Incentive Program, the Compensation Committee of the Board of Directors of L. B. Foster Company (the
“Committee”) has awarded you             Performance Share Units (the “Award”). The terms and conditions of your Award are governed by the provisions of the Program
document attached hereto as Exhibit A, the terms of which are hereby incorporated by reference. Capitalized terms not otherwise defined herein shall each have the meaning assigned to them in the Program. 

 

					
	 	 	
	Name:	 	 	 	
	Title:	 	 	 	

 I hereby acknowledge and accept the Award described above subject to all of the terms and
conditions of the Program including, without limitation, the forfeiture and covenant provisions set forth in Sections 11, 12 and 13 of the Program, regardless of whether the Award ever results in a payment under the Program. I further
acknowledge receipt of a copy of the Program document and the L. B. Foster Company 2006 Omnibus Incentive Plan, as amended (the “Plan”), and I agree to be bound by all the provisions of the Program and the Plan, as amended from time to
time. 
 By signing below, I acknowledge that: (i) I have read and understand the Program including, without
limitation, the provisions that require me to repay monies to the Company if (A) I breach Section 11 or 12 of the Program or (B) the Company is required to prepare an accounting restatement to the extent set forth in
Section 13(c); (ii) the Performance Share Units that have been awarded to me have no independent economic value, but rather are mere units of measurement to be used in calculating benefits, if any, available under the Program; (iii) I
agree to accept as binding, conclusive and final all decisions or interpretations of the Compensation Committee upon any questions arising under this Award, the Program or the Plan; and (iv) my decision to participate in the Program is
completely voluntary and done with full knowledge of its terms. I further acknowledge and agree that, except as otherwise specifically provided in the Program, in the event I terminate employment prior to the Payment Date,
the Performance Share Units awarded to me shall be cancelled and forfeited, whether payable or not, without payment by the Company or any Subsidiary. 
  

									
	Signature:	 	  	 	Date:	 	  	 	 
		 	Name	 		 		 	

 Exhibit A 
 L. B. FOSTER COMPANY 
 2013 PERFORMANCE SHARE UNIT PROGRAM 

(2013-2015) 
 L. B. FOSTER COMPANY, a Pennsylvania corporation (the “Company”), hereby establishes this L. B. FOSTER COMPANY 2013 PERFORMANCE SHARE UNIT PROGRAM (the “Program”), in
accordance with the provisions of the L. B. FOSTER COMPANY 2006 Omnibus Incentive Plan, as amended (the “Plan”), and the terms and conditions provided herein. 
 WHEREAS, the Company maintains the Plan for the benefit of its and its Subsidiaries’ key employees; and 
 WHEREAS, in order to align the interests of key employees with the interests of the Company’s shareholders and to enhance the Company’s ability to retain the employment of its key employees, the
Company desires to provide long-term incentive compensation; and 
 WHEREAS, Article VI of the Plan authorizes the Company to
make performance-based awards. 
 NOW, THEREFORE, the Compensation Committee of the Board of Directors of the Company
(“Compensation Committee”) hereby adopts the Program on the following terms and conditions: 
 1. Plan.
In addition to the terms and conditions set forth herein, awards under the Program are subject to, and governed by, the terms and conditions set forth in the Plan, which are hereby incorporated by reference. Unless the context otherwise requires,
capitalized terms used in this Program and not otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between the provisions of the Program and the Plan, the Compensation Committee shall have full
authority and discretion to resolve such conflict and any such determination shall be final, conclusive and binding on the Participant and all interested parties. 
 2. Effective Date. The effective date of this Program is February 26, 2013 
 3. Eligibility. The Committee shall select those individuals who shall participate in the Program (the “Participants”). In the event that an employee is hired by the Company or a
Subsidiary during the Performance Period, upon recommendation by the CEO, the Committee shall determine whether such employee will become a Participant in the Program, subject to such terms, conditions and adjustments as the Committee determines to
be necessary or desirable. 
 4. Performance Share Unit Awards. 

(a) The Committee shall determine the number of performance share units (the “Performance Share Units”) to be awarded to
each Participant. Each Performance Share Unit awarded under the Program shall represent a contingent right to receive up to two shares of the Company’s common stock (the “Common Stock”) as described more fully herein, to the
extent such Performance Share Unit is earned and becomes payable pursuant to the terms of this Program. Performance Share Units have no independent economic value, but rather are mere units of measurement used for purpose of calculating the number
of shares, if any, to be paid under the Program. 

 (b) Performance Share Units shall be increased and/or decreased in accordance with the terms
of the Program as described more fully herein. Notwithstanding any provision of this Plan to the contrary, (i) the Committee, in its sole discretion, may reduce the amount of any Performance Share Units that would otherwise be earned by a
Participant upon attainment of the Performance Conditions (as defined below) if it concludes that such reduction is necessary or appropriate, and (ii) the Committee shall not use its discretionary authority to increase the number of Performance
Share Units that would otherwise be earned upon attainment of the Performance Conditions with respect to any award that is intended to be performance-based compensation under Section 162(m) of the Code. 

5. Performance Conditions of the Performance Share Units. The total number of shares of the Company’s Common Stock that may
be earned by a Participant will be based on the Company’s attainment of performance goals relating to the Company’s return on invested capital (“ROIC”) and Compound Annual Growth Rate of Earnings from continuing operations
(“Earnings CAGR”) during The Program Period as approved by (and in accordance with the procedures established by) the Committee on February 26, 2013 and on file with the Committee (the “Performance Conditions”), for
the performance period of January 1, 2013 through December 31, 2015 (the “Performance Period”); provided, however, that except as otherwise specifically provided herein, the ability to earn shares of the Company’s
Common Stock and to receive payment thereon under the Program is expressly contingent upon achievement of the threshold for the Performance Conditions and otherwise satisfying all other terms and conditions of the Program. 

6. Issuance and Distribution. 
 (a) After the end of the Performance Period, the Committee shall certify in writing the extent to which the applicable Performance Conditions and any other material terms of the Program have been
achieved. For purposes of this provision, and for so long as the Code permits, the approved minutes of the Committee meeting in which the certification is made may be treated as written certification. 

(b) Subject to the terms and conditions of this Program, Performance Share Units will be settled and paid in shares
of the Company’s common stock in the calendar year immediately following the end of the Performance Period on a date determined in the Company’s discretion, but in no event later than March 15th of such calendar year (the “Payment Date”).

 (c) Notwithstanding any other provision of this Program, in the event of a Change of Control, the Committee may, in its sole
discretion, terminate the Program and, unless otherwise determined by the Committee, the Participant shall be deemed to earn shares of the Company’s Common Stock at the target level; provided, however, the Participant shall only be entitled to
a prorated portion of such shares of the Company’s Common Stock determined based on the ratio of the number of complete months the Participant is employed or serves during the Performance Period through the date of the change of control to the
total number of originally scheduled months in the Performance Period (or the number of originally scheduled remaining months in the Performance Period if the Participant becomes an employee of the Company and/or its Subsidiaries after the start of
the Performance Period). Any such earned shares of the Company’s Common Stock shall be issued contemporaneous with the Change of Control on the closing date of the Change of Control; provided, further, in the event of a Change of Control,
Performance Share Units may, in the Committee’s discretion, be settled in cash and/or securities or other property. 
 7.
Dividends. Performance Share Units will not be credited with dividends that are paid on the Company’s Common Stock. 

  
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 8. Change in Participant’s Status. In the event a Participant’s employment
with the Company or any Subsidiary is terminated (i) by reason of Retirement on or after January 1, 2014 (or such earlier date as may be expressly authorized by the Committee), or (ii) on account of death or total and permanent
Disability prior to the Payment Date, the Participant shall be entitled to retain the Performance Share Units and receive payment therefore to the extent earned and payable pursuant to the provisions of this Program; provided, however, the
Participant shall only be entitled to retain a prorated portion of the Performance Share Units determined at the end of the Performance Period and based on the ratio of the number of complete months the Participant is employed or serves during the
Performance Period to the total number of months in the Performance Period (or the number of remaining months in the Performance Period if the Participant becomes an employee of the Company and/or its Subsidiaries after the start of the Performance
Period). In the event a Participant’s employment with the Company or any Subsidiary is terminated for any other reason, including, but not limited to, by the Participant voluntarily, or by the Company on account of a Termination for Cause or
without cause, prior to the Payment Date, the Performance Share Units awarded to the Participant shall be cancelled and forfeited, whether payable or not, without payment by the Company or any Subsidiary. Any payments due a deceased Participant
shall be paid to his estate as provided herein after the end of the Performance Period. 
 9. Responsibilities of the
Compensation Committee. In addition to the authority granted to the Compensation Committee under the Plan, the Compensation Committee has responsibility for all aspects of the Program’s administration, including but not limited to: ensuring
that the Program is administered in accordance with the provisions of the Program and the Plan; approving Participants; authorizing Performance Share Unit awards to Participants; and adjusting Performance Share Units as authorized hereunder
consistent with the terms of the Program and the Plan. All decisions of the Compensation Committee under the Program shall be final, conclusive and binding on all interest parties. No member of the Compensation Committee shall be liable for any
action or determination made in good faith as to the Program or any Performance Share Units awarded thereunder. 
 10. Tax
Consequences/Withholding. 
 (a) It is intended that: (i) a Participant’s Performance Share Units shall be
considered to be subject to a substantial risk of forfeiture in accordance with those terms as defined in Section 409A and 3121(v)(2) of the Code; and (ii) a Participant shall have merely an unfunded, unsecured promise to be paid a
benefit, and such unfunded promise shall not consist of a transfer of “property” within the meaning of Code Section 83. 
 (b) Participant acknowledges that any income for foreign, federal, state or local income tax purposes, including payroll taxes, that the Participant is required to recognize on account of the vesting of
the Performance Share Units and/or issuance of the shares of Common Stock under this award to Participant shall be subject to withholding of tax by the Company. In accordance with administrative procedures established by the Company, Participant may
elect to satisfy Participant’s minimum statutory withholding tax obligations, if any, on account of the vesting of the Performance Share Units and/or issuance of shares of Common Stock under this award, in one or a combination of the following
methods: in cash or by separate check made payable to the Company and/or by authorizing the Company to withhold from the Performance Share Units to be issued to the Participant a sufficient number of whole shares distributable in connection with
this award equal to the applicable minimum statutory withholding tax obligation. 
 (c) This Program is intended to be excepted
from coverage under Section 409A and shall be construed accordingly. Notwithstanding any provision of this Program to the contrary, if any benefit provided under this Program is subject to the provisions of Section 409A, the provisions of
the Program will be administered, interpreted and construed in a manner necessary to comply with Section 

  
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409A (or disregarded to the extent such provision cannot be so administered, interpreted or construed). Notwithstanding, Section 409A of the Code may impose upon the Participant certain
taxes or other charges for which the Participant is and shall remain solely responsible, and nothing contained in this Program or the Plan shall be construed to obligate the Compensation Committee, the Company or any Subsidiary for any such taxes or
other charges. 
 (d) Notwithstanding any provision of the Program to the contrary, if an award of Performance Share Units under
this Program is intended to qualify as performance-based compensation under Section 162(m) of the Code and the regulations issued thereunder and a provision of this Program would prevent such award from so qualifying, such provision shall be
administered, interpreted and construed to carry out such intention (or disregarded to the extent such provision cannot be so administered, interpreted or construed). 
 11. Non-Competition. 
 (a) The Participants hereunder agree that this
Section 11 is reasonable and necessary in order to protect the legitimate business interests and goodwill of the Company, including the Company’s trade secrets, valuable confidential business and professional information, substantial
relationships with prospective and existing customers and clients, and specialized training provided to Participants and other employees of the Company. The Participants acknowledge and recognize the highly competitive nature of the business of the
Company and its Subsidiaries and accordingly agree that during the term of each of their employment and for a period of two (2) years after the termination thereof: 
 (i) The Participants will not directly or indirectly engage in any business substantially similar to any line of business conducted by the Company or any of its Subsidiaries, including, but not limited
to, where such engagement is as an officer, director, proprietor, employee, partner, investor (other than as a holder of less than 1% of the outstanding capital stock of a publicly traded corporation), consultant, advisor, agent or sales
representative, in any geographic region in which the Company or any of its Subsidiaries conducted business; 
 (ii) The
Participants will not contact, solicit, perform services for, or accept business from any customer or prospective customer of the Company or any of its Subsidiaries in any line of business conducted by the Company or any of its subsidiaries;

 (iii) The Participants will not directly or indirectly induce any employee of the Company or any of its Subsidiaries to:
(1) engage in any activity or conduct which is prohibited pursuant to subparagraph 11(a)(i) or (2) terminate such employee’s employment with the Company or any of its Subsidiaries. Moreover, the Participants will not directly or
indirectly employ or offer employment (in connection with any business substantially similar to any line of business conducted by the Company or any of its Subsidiaries) to any person who was employed by the Company or any of its Subsidiaries unless
such person shall have ceased to be employed by the Company or any of its Subsidiaries for a period of at least 12 months; and 
 (iv) The Participants will not directly or indirectly assist others in engaging in any of the activities, which are prohibited under subparagraphs (a)(i-iii) above. 

(b) It is expressly understood and agreed that although the Participants and the Company consider the restrictions contained in this
Section 11 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Program is an unenforceable restriction against any Participant,
the provisions 

  
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of this Program shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such maximum extent as such court may judicially determine or indicate
to be enforceable against such Participant. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Program is unenforceable, and such restriction cannot be amended so as to make it enforceable, such
finding shall not affect the enforceability of any of the other restrictions contained herein. The restrictive covenants set forth in this Section 11 shall be extended by any amount of time that a Participant is in breach of such covenants,
such that the Company receives the full benefit of the time duration set forth above. 
 12. Confidential Information and
Trade Secrets. The Participants and the Company agree that certain materials, including, but not limited to, information, data and other materials relating to customers, development programs, costs, marketing, trading, investment, sales
activities, promotion, credit and financial data, manufacturing processes, financing methods, plans or the business and affairs of the Company and its Subsidiaries, constitute proprietary confidential information and trade secrets. Accordingly, the
Participants will not at any time during or after a Participant’s employment with the Company (including any Subsidiary) disclose or use for such Participant’s own benefit or purposes or the benefit or purposes of any other person, firm,
partnership, joint venture, association, corporation or other business organization, entity or enterprise other than the Company and any of its affiliates, any proprietary confidential information or trade secrets, provided that the foregoing shall
not apply to information which is not unique to the Company or any of its Subsidiaries or which is generally known to the industry or the public other than as a result of such Participant’s breach of this covenant. The Participants agree that
upon termination of employment with the Company (including any Subsidiary) for any reason, the Participants will immediately return to the Company all memoranda, books, papers, plans, information, letters and other data, and all copies thereof or
therefrom, which in any way relate to the business of the Company and its Subsidiaries, except that the Participants may retain personal notes, notebooks and diaries. The Participants further agree that the Participants will not retain or use for
their own account at any time any trade names, trademark or other proprietary business designation used or owned in connection with the business of the Company or any of its Subsidiaries. 

13. Remedies/Forfeiture/Recoupment. 
 (a) The Participants acknowledge that a violation or attempted violation on a Participant’s part of Sections 11 and 12 will cause irreparable damage to the Company and its Subsidiaries, and the
Participants therefore agree that the Company and its Subsidiaries shall be entitled as a matter of right to an injunction, out of any court of competent jurisdiction, restraining any violation or further violation of such promises by the
Participants or a Participant’s employees, partners or agents. The Participants agree that such right to an injunction is cumulative and in addition to whatever other remedies the Company (including any Subsidiary) may have under law or equity,
and the Participants’ obligations to make timely payment to the Company as set forth in Section 13(b) of this Program. The Participants further acknowledge and agree that a Participant’s Performance Share Units shall be
cancelled and forfeited without payment by the Company if such Participant breaches any of his or her obligations set forth in Section 11 and 12 herein. 
 (b) At any point after becoming aware of a breach of any obligation set forth in Sections 11 and/or 12 of this Program, the Company shall provide notice of such breach to a Participant. By agreeing
to participate in this Program, the Participants agree that within ten (10) days after the date the Company provides such notice, a Participant shall pay to the Company in cash an amount equal to any and all distributions paid to or on behalf
of such Participant under this Program within the six (6) months prior to the date of the earliest breach. The Participant agrees that failure to make such timely payment to the Company constitutes an independent and material breach of the
terms and conditions of this Program, for which the Company may seek recovery of the unpaid amount as liquidated damages, in addition to all 

  
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other rights and remedies the Company may have resulting from a Participant’s breach of the obligations set forth in Sections 11 and 12. The Participants agree that timely payment to
the Company as set forth in this provision of the Program is reasonable and necessary because the compensatory damages that will result from breaches of Sections 11 and/or 12 cannot readily be ascertained. Further, the Participants agree that
timely payment to the Company as set forth in this provision of the Program is not a penalty, and it does not preclude the Company from seeking all other remedies that may be available to the Company, including without limitation those set forth in
this Section 13. 
 (c) In the event the Company is required to prepare an accounting restatement applicable to any
financial reporting period covering a period within the Performance Period due to the material noncompliance of the Company with any financial reporting requirement under the securities laws or other applicable law and if the Committee, in its
discretion, so determines, (i) each “Specified Participant” shall pay to the Company in cash up to the amount equal to the fair market value of any and all shares, cash or other compensation paid to or on behalf of such Participant
under this Program, and, without duplication, (ii) each “Specified Participant” shall pay to the Company in cash an amount equal to the fair market value of any and all shares, cash or other compensation paid to or on behalf of such
Participant under of this Program in excess of the amount of such compensation that would have been paid to the Participant based on the restated financial results. Any such payment shall be made within the time periods prescribed by the Committee.
The Committee, in its discretion, shall determine whether the Company shall effect any such recovery (i) by seeking repayment from the Specified Participant, (ii) by reducing (subject to applicable law and the terms and conditions of the
applicable plan, program or arrangement) the amount that would otherwise be payable to the Specified Participant under any compensatory plan, program or arrangement maintained by the Company or any of its affiliates, (iii) by withholding
payment of future increases in compensation (including the payment of any discretionary bonus amount) or grants of compensatory awards that would otherwise have been made in accordance with the Company’s otherwise applicable compensation
practices, or (iv) by any combination of the foregoing. For purposes of this Program, the term “Specified Participant” means any Participant that the Committee has determined, in its sole discretion, that any fraud, negligence, or
intentional misconduct by Participant was a significant contributing factor to the Company having to prepare an accounting restatement. A Participant’s failure to make any such timely payment to the Company constitutes an independent and
material breach of the terms and conditions of this Program, for which the Company may seek recovery of the unpaid amount as liquidated damages, in addition to all other rights and remedies the Company may have against the Participant. By
participating in the Program, each Participant agrees that timely payment to the Company as set forth in this provision of the Program is reasonable and necessary, and that timely payment to the Company as set forth in this provision of the Program
is not a penalty, and it does not preclude the Company from seeking all other remedies that may be available to the Company, including without limitation those set forth in this Section 13. Each Participant further acknowledges and agrees
that a Participant’s Performance Share Units shall be cancelled and forfeited without payment by the Company if such Participant is determined to be a Specified Participant with respect to any financial reporting period covering a period within
the Performance Period. Notwithstanding the foregoing, the Company shall not be required to make any additional payment in the event that the restated financial results would have resulted in a greater payment to the Participant. 

Notwithstanding any other provisions of this Program or the Plan, if the Performance Share Units granted pursuant to this Program become
subject to recovery under any Company policy adopted hereafter and required by law, regulation or stock exchange listing requirement, such Performance Share Units shall be subject to such deductions, recoupment, and clawback as may be required to be
made pursuant to such Company policy (the “Clawback Requirement”). In the event the Performance Share Units granted pursuant to this Program become subject to such Clawback Requirement, then the Performance Share Units shall be
subject to such Clawback Requirement, and this Section 13(c) shall no longer apply to such Performance Share Units. 

  
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 14. Assignment/Nonassignment. 

(a) The Company shall have the right to assign this Program, including without limitation Section 11, and the Participants agree to
remain obligated by all provisions of this Program that are assigned to any successor, assign or surviving entity. The obligations of the Company under the Program shall be binding upon the successors and assigns of the Company. Any successor to the
Company is an intended third party beneficiary of this Program. 
 (b) The Performance Share Units shall not be sold, pledged,
assigned, hypothecated, transferred or disposed of (a “Transfer”) in any manner, other than by will or the laws of descent and distribution. Any attempt by a Participant to Transfer the Performance Share Units in violation of the
terms of the Program shall render the Performance Share Units null and void, and result in the immediate forfeiture of such Performance Share Units, without payment by the Company or any Subsidiary. 

15. Impact on Benefit Plans. Payments under the Program shall not be considered as earnings for purposes of the Company’s
and/or Affiliate’s qualified retirement plans or any such retirement or benefit plan unless specifically provided for therein. Nothing herein shall prevent the Company or any Affiliate from maintaining additional compensation plans and
arrangements for its employees. 
 16. Changes in Stock. In the event of a stock split, stock dividend, or similar event,
the Performance Share Units and the shares of Company common stock on which the Performance Conditions are based shall be appropriately adjusted to prevent dilution or enlargement of the rights of Participants which would otherwise result from any
such transaction, provided such adjustment shall be consistent with Code Section 162(m) and Section 409A. In the case of a Change of Control, any obligation under the Program shall be handled in accordance with the terms of
Section 6(c) hereof. 
 17. Governing Law, Jurisdiction, and Venue. 

(a) This Program shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving
effect to the principles of conflicts of law. 
 (b) Participant hereby irrevocably submits to the personal and exclusive
jurisdiction of the United States District Court for the Western District of Pennsylvania or the Court of Common Pleas of Allegheny County, Pennsylvania in any action or proceeding arising out of, or relating to, this Program (whether such action or
proceeding arises under contract, tort, equity or otherwise). Participant hereby irrevocably waives any objection which Participant now or hereafter may have to the laying of venue or personal jurisdiction of any such action or proceeding brought in
said courts. 
 (c) Jurisdiction over, and venue of, any such action or proceeding shall be exclusively vested in the
United States District Court for the Western District of Pennsylvania or the Court of Common Pleas of Allegheny County, Pennsylvania. 
 (d) Provided that the Company commences any such action or proceeding in the courts identified in Section 17(b), Participant irrevocably waives Participant’s right to object to or challenge the
above selected forum on the basis of inconvenience or unfairness under 28 U.S.C. § 1404, 42 Pa. C.S. § 5322 or similar state or federal statutes. Participant agrees to reimburse the Company for all of the attorneys fees and costs it incurs
to oppose Participant’s efforts to challenge or object to litigation proceeding in the courts identified in Section 17(b) with respect to actions arising out of or relating to this Program (whether such actions arise under contract, tort,
equity or otherwise). 

  
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 18. Failure to Enforce Not a Waiver. The failure of the Company to enforce at any
time any provision of this Program shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
 19. Severability. In the event that any one or more of the provisions of this Program shall be held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. 
 20. Funding. The Program is not funded and
all amounts payable hereunder, if any, shall be paid from the general assets of the Company or its Affiliate, as applicable. No provision contained in this Program or the Plan and no action taken pursuant to the provisions of this Program or the
Plan shall create a trust of any kind or require the Company to maintain or set aside any specific funds to pay benefits hereunder. To the extent a Participant acquires a right to receive payments from the Company under the Program, such right shall
be no greater than the right of any unsecured general creditor of the Company. 
 21. Headings. The descriptive headings
of the Sections of this Program are inserted for convenience of reference only and shall not constitute a part of this Program. 

22. Amendment or Termination of this Program. This Program may be modified, amended, suspended or terminated by the Committee at
any time. Notwithstanding the foregoing or any provision of this Program to the contrary, the Committee may, in the sole discretion and without the Participants’ consent, modify or amend the terms of the Program or a Performance Grant, or take
any other action it deems necessary or advisable, to cause the Program to comply with Section 409A or Section 162(m) (or an exception thereto). Any modification, amendment, suspension or termination shall only be effective upon a writing
issued by the Committee, and a Participant shall not offer evidence of any purported oral modifications or amendments to vary or contradict the terms of this Program document. 
 IN WITNESS WHEREOF, the undersigned has executed this Program on the day and year indicated below. This Program may be executed in more than one counterpart, each of which is deemed to be an
original and all of which taken together constitute one and the same agreement. 
  

					
	Dated: February 26, 2013	 		 	/s/ William H. Rackoff
		 		 	William H. Rackoff
		 		 	Chairman, Compensation Committee

  
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