Document:

EX-10.4

 Exhibit 10.4 

ASV HOLDINGS, INC. 
 2017
EQUITY INCENTIVE PLAN 
 1. Establishment and Purpose. This Plan is adopted for the purpose of attracting and retaining non-employee directors, executive officers and other key employees and service providers, including officers, employees and service providers of Affiliates, and to stimulate their efforts toward the Company’s
and its Affiliates’ continued success, long-term growth and profitability. The Plan provides for the grant of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, or any Other Award. The Plan also
permits the issuance of Awards in a partial or full substitution for certain awards relating to shares of the common stock of Terex Corporation and Manitex International Inc. immediately prior to the IPO. 

2. Definitions. The capitalized terms used in this Plan have the meanings set forth below. 

(a) “Affiliate” means any corporation that is a Subsidiary of the Company. 

(b) “Award” means a grant made under this Plan in the form of Options, Stock Appreciation Rights, Restricted Stock,
Restricted Stock Units, Performance Shares or any Other Award, whether singly, in combination or in tandem. 
 (c) “Award
Agreement” means a written agreement, contract, certificate or other instrument or document evidencing the terms and conditions of an Award which may, in the discretion of the Company, be transmitted electronically to any Participant. Each
Award Agreement shall be subject to the terms and conditions of the Plan. 
 (d) “Board” means the Board of Directors of
the Company. 
 (e) “Cause” means (x) if the Participant is a party to an employment or service agreement with the
Company or its Affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (y) if no such agreement exists, or if such agreement does not define Cause: (i) a Participant’s willful failure
substantially to perform his or her duties and responsibilities to the Company or an Affiliate or deliberate material violation of a significant Company or Affiliate policy; (ii) Participant’s commission of any act of fraud, embezzlement,
dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury to the Company or an Affiliate; (iii) unauthorized use or disclosure by Participant of any proprietary information or trade
secrets of the Company or any other party to whom the Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company; or (iv) Participant’s willful breach of any of his or her material obligations
under any written agreement or covenant with the Company or an Affiliate. The determination as to whether a Participant is being terminated for Cause shall be made in good faith by the Company and shall be final and binding on the Participant. The
foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s employment or consulting relationship at any time, and the term “Company” will be interpreted to include any Affiliate, as
appropriate. 

 (f) “Change in Control” shall mean, except as otherwise provided in an Award
Agreement, any of the following: (i) the purchase or other acquisition (other than from the Company), in a single transaction or series of related transactions, by any person, entity or group of persons, within the meaning of Section 13(d)
or 14(d) of the Exchange Act (excluding, for this purpose, the Company or its subsidiaries or any employee benefit plan of the Company or its subsidiaries), of beneficial ownership (within the meaning of Rule
13d-3 promulgated under the Act) of 50% or more of either the then-outstanding shares of Stock or the combined voting power of the Company’s then-outstanding voting securities entitled to vote generally
in the election of directors; (ii) the consummation of a reorganization, merger or consolidation involving the Company, in each case with respect to which persons who were the stockholders of the Company immediately prior to such
reorganization, merger or consolidation do not, immediately thereafter, own more than 50% of, respectively, the Stock and the combined voting power entitled to vote generally in the election of directors of the reorganized, merged or consolidated
corporation’s then-outstanding voting securities; (iii) a liquidation or dissolution of the Company, or the sale of all or substantially all of the assets of the Company; or (iv) a majority of the members of the Board are replaced
during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the Board before the date of appointment or election. Notwithstanding anything herein to the contrary, an event described above shall be
considered a Change in Control hereunder only if it also constitutes a “change in control event” under Section 409A of the Code, to the extent necessary to avoid the adverse tax consequences thereunder with respect to any payment
subject to Section 409A of the Code. For avoidance of doubt, a “Change in Control” shall not be deemed to have occurred by virtue of the IPO and the transactions related thereto. 

(g) “Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, or any successor thereto. Any
reference to a section of the Code shall be deemed to include a reference to any regulations promulgated thereunder. 
 (h)
“Committee” means the committee of directors appointed by the Board to administer this Plan. In the absence of a specific appointment, “Committee” shall mean the Compensation Committee of the Board. 

(i) “Company” means ASV Holdings, Inc., or any successor thereto. 

(j) “Consultant” means any person, including an advisor or independent contractor, engaged by the Company or an Affiliate to
render service to such entity. 
 (k) “Director” means a member of the Board. 

(l) “Disability” means, except as otherwise provided in an Award Agreement, that the Participant is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result 

  
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in death or which has lasted or can be expected to last for a continuous period of not less than 12 months, provided, however, for purposes of determining the term of an Incentive Stock Option,
the term Disability shall have the meaning ascribed to it under Section 22(e)(3) of the Code. The determination of whether an individual has a Disability shall be determined under procedures established by the Committee. Except in situations
where the Committee is determining Disability for purposes of the term of an Incentive Stock Option within the meaning of Section 22(e) (3) of the Code, the Committee may rely on any determination that a Participant is disabled for
purposes of benefits under any long-term disability plan maintained by the Company or any Affiliate in which a Participant participates, provided that the definition of disability applied under such disability plan meets the requirements of a
Disability in the first sentence hereof. 
 (m) “Effective Date” means May 11, 2017. 

(n) “Employee” means any person employed by the Company or an Affiliate. Neither service as a Director nor payment of a
director’s fee by the Company will be sufficient to constitute “employment” by the Company. 
 (o) “Exchange
Act” means the Securities Exchange Act of 1934, as amended; “Exchange Act Rule 16b-3” means Rule 16b-3 promulgated by the Securities and Exchange
Commission under the Exchange Act or any successor regulation. 
 (p) “Fair Market Value” means, on a given date,
(i) if the Common Stock is listed on a national securities exchange, the closing sales price of the Common Stock reported on the primary exchange on which the Common Stock is listed and traded on such date, or, if there are no such sales on
that date, then on the last preceding date on which such sales were reported; (ii) if the Common Stock is not listed on any national securities exchange but is quoted in an inter-dealer quotation system on a last sale basis, the average between
the closing bid price and ask price reported on such date, or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; or (iii) if the Common Stock is not listed on a national securities exchange or
quoted in an inter-dealer quotation system on a last sale basis, the amount determined by the Committee in good faith to be the fair market value of the Common Stock, which shall be conclusive and binding on all persons; provided, however, as to any
Awards granted on the date of the IPO, “Fair Market Value” shall be equal to the per share price the Common Stock is offered to the public in connection with the IPO. 

In the case of an Incentive Stock Option, if such determination of Fair Market Value is not consistent with the then current regulations of
the Secretary of the Treasury, Fair Market Value shall be determined in accordance with said regulations. The determination of Fair Market Value shall be subject to adjustment as provided in Section 13(f) hereof. 

(q) “Fundamental Change” means a dissolution or liquidation of the Company, a sale of substantially all of the assets of the
Company (in one or a series of transactions), the consummation of a merger or consolidation of the Company with or into any other corporation, regardless of whether the Company is the surviving corporation, or a statutory share exchange involving
capital stock of the Company. 

  
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 (r) “Good Reason” means: (x) if the Participant is a party to an employment
or service agreement with the Company or its Affiliates and such agreement provides for a definition of Good Reason, the definition contained therein; or (y) if no such agreement exists or if such agreement does not define Good Reason, the
occurrence of one or more of the following without the Participant’s express written consent, which circumstances are not remedied by the Company within sixty (60) days of its receipt of a written notice from the Participant describing the
applicable circumstances (which notice must be provided by the Participant within thirty (30) days of the applicable circumstances): (i) any material, adverse change in the Participant’s duties, responsibilities, authority, title, status
or reporting structure; (ii) a material reduction in the Participant’s base salary or bonus opportunity; or (iii) a geographical relocation of the Participant’s principal office location by more than fifty (50) miles. If the
Participant does not terminate his or her employment or service for Good Reason within ninety (90) days after the first occurrence of the applicable grounds, then the Participant will be deemed to have waived his or her right to terminate for
Good Reason with respect to such grounds. 
 (s) “Incentive Stock Option” means any Option designated as such and granted
in accordance with the requirements of Section 422 of the Code or any successor to such section. 
 (t) “IPO” means
the underwritten initial public offering of the Company’s Stock pursuant to a registration statement that is declared effective by the Securities and Exchange Commission. 

(u) “Non-Employee Director” means a member of the Board who is a “non-employee director” within the meaning of Exchange Act Rule 16b-3. 

(v) “Non-Qualified Stock Option” means an Option other than an Incentive Stock
Option. 
 (w) “Option” means a right to purchase Stock (or, if the Committee so provides in an applicable Agreement,
Restricted Stock), including both Non-Qualified Stock Options and Incentive Stock Options. 

(x) “Other Award” means a cash-based Award, an Award of Stock, or an Award based on Stock other than Options, Stock
Appreciation Rights, Restricted Stock, Restricted Stock Units or Performance Shares. 
 (y) “Outside Director” means a
member of the Board who is an “outside director” within the meaning of Section 162(m) of the Code. 

  
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 (z) “Participant” means an Employee, Consultant or Director to whom an Award is
granted pursuant to the Plan or, if applicable, such other person who validly holds an outstanding Award. 
 (aa) “Performance
Criteria” means performance goals relating to certain criteria as further described in Section 12 hereof. 

(bb) “Performance Period” means one or more periods of time in duration, as the Committee may select, over which the
attainment of one or more performance goals will be measured for the purpose of determining which Awards, if any, are to vest or be earned. 

(cc) “Performance Shares” means a contingent award of a specified number of Shares or Units, with each Performance Share
equivalent to one or more Shares or a fractional Share or a Unit expressed in terms of one or more Shares or a fractional Share, as specified in the applicable Award Agreement, a variable percentage of which may vest or be earned depending upon the
extent of achievement of specified performance objectives during the applicable Performance Period. 
 (dd) “Plan” means
this ASV Holdings, Inc. 2017 Equity Incentive Plan, as amended and in effect from time to time. 
 (ee) “Restricted Stock”
means Stock granted under Section 10 hereof so long as such Stock remains subject to one or more restrictions. 

(ff) “Restricted Stock Units” means Units of Stock granted under Section 10 hereof. 

(gg) “Share” means a share of Stock. 

(hh) “Stock” means the Company’s common stock, $0.001 par value per share, or any securities issued in respect thereof
by the Company or any successor to the Company as a result of an event described in Section 13(f). 
 (ii) “Stock
Appreciation Right” means a right pursuant to an Award granted under Section 8. 
 (jj)
“Subsidiary” means a “subsidiary corporation,” as that term is defined in Section 424(f) of the Code, or any successor provision. 

(kk) “Term” means the period during which an Option or Stock Appreciation Right may be exercised or the period during which
the restrictions placed on Restricted Stock, Restricted Stock Units, or any other Award are in effect. 
 (ll) “Unit” means
a bookkeeping entry that may be used by the Company to record and account for the grant of Stock, Units of Stock, Stock Appreciation Rights, Performance Shares, and any other Award expressed in terms of Units of Stock until such time

  
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as the Award is paid, canceled, forfeited or terminated. In the event an Award is granted as a Unit, no Shares shall be issued at the time of grant, and the Company will not be required to set
aside a fund for the payment of any such Award. 
 Except when otherwise indicated by the context, reference to the masculine gender shall
include, when used, the feminine gender and any term used in the singular shall also include the plural. 
 3. Administration.

 (a) Authority of Committee. The Committee shall administer this Plan or delegate its authority to do so as provided in
Section 3(d) hereof or, in the Board’s sole discretion or in the absence of the Committee, the Board shall administer this Plan; provided that, in all cases, the Board shall establish the terms for the grant of an Award to Non-Employee Directors. Subject to the terms of the Plan, the Committee’s charter and applicable laws, and in addition to other express powers and authorization conferred by the Plan, the Committee shall have
plenary authority, in its discretion, to determine the individuals to whom, and the time or times at which, Awards shall be granted and the number of Shares, if applicable, to be subject to each Award. Subject to the express provisions of the Plan,
the Committee shall also have plenary discretionary authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine the terms and provisions of the respective Award Agreements (which need not be
identical) and to make all other determinations necessary or advisable for the administration of the Plan. The Committee’s determinations on the matters referred to in this Section 4 shall be conclusive. In addition,
the Committee may: 
 (i) authorize any person to execute, on behalf of the Company, any instrument required to carry out the
purposes of the Plan; 
 (ii) delegate its authority to one or more officers of the Company with respect to Awards that do not
involve “covered employees” (within the meaning of Section 162(m) of the Code) or “directors” or “officers” within the meaning of Section 16 of the Exchange Act, to the extent permitted by Delaware law and the
applicable rules and regulations of any national securities exchange on which the Common Stock is listed; provided that, in delegating such authority, the Committee shall specify the maximum number of Shares that may be awarded to any single person
and shall otherwise comply with applicable law; 
 (iii) amend any outstanding Awards, including for the purpose of modifying the
time or manner of vesting, or the term of any outstanding Award; provided, however, that if any such amendment impairs a Participant’s rights or increases a Participant’s obligations under his or her Award or creates or increases a
Participant’s federal income tax liability with respect to an Award, such amendment shall also be subject to the Participant’s consent; 

(iv) make decisions with respect to outstanding Awards that may become necessary upon a Change in Control or an event that triggers
anti-dilution adjustments; 

  
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 (v) interpret, administer, or reconcile any inconsistency in, correct any defect in
and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; and 
 (vi)
exercise discretion to make any and all other determinations which it determines to be necessary or advisable for the administration of the Plan. 

To the extent the Committee determines that the restrictions imposed by this Plan preclude the achievement of material purposes of the Awards
in jurisdictions outside of the United States, the Committee has the authority and discretion to modify those restrictions as the Committee determines to be necessary or appropriate to conform to applicable requirements or practices of jurisdictions
outside of the United States. 
 (b) Repricing. The Committee also may modify the purchase price or the exercise price of any
outstanding Award, provided that if the modification effects a “repricing” within the meaning of the rules of any national securities exchange on which the Company’s common stock is then listed, shareholder approval shall be required
before the repricing is effective. 
 (c) Committee Decisions Final. All decisions made by the Committee pursuant to the
provisions of the Plan shall be final and binding on the Company and the Participants, unless such decisions are determined by a court having jurisdiction to be arbitrary and capricious. 

(d) Delegation. The Committee, or if no Committee has been appointed, the Board, may delegate administration of the Plan to a
committee or committees of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. The Committee shall have the power to delegate to a subcommittee any of
the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board or the Committee shall thereafter be to the committee or subcommittee), subject, however, to such resolutions, not inconsistent with the
provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish, suspend or supersede the Committee at any time and revest in the Board the administration of the Plan. The members of the Committee shall be appointed
by and serve at the pleasure of the Board. From time to time, the Board may increase or decrease the size of the Committee, add additional members to, remove members (with or without cause) from, appoint new members in substitution therefor, and
fill vacancies, however, caused, in the Committee. The Committee shall act pursuant to a vote of the majority of its members or, in the case of a Committee comprised of only two members, the unanimous consent of its members, whether present or not,
or by the written consent of the majority of its members and minutes shall be kept of all of its meetings and copies thereof shall be provided to the Board. Subject to the limitations prescribed by the Plan and the Board, the Committee may establish
and follow such rules and regulations for the conduct of its business as it may determine to be advisable. 

  
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 (e) Board Authority. Any authority granted to the Committee may also be exercised
by the Board or another committee of the Board, except to the extent that the grant or exercise of such authority would cause any Award intended to qualify for favorable treatment under Section 162(m) of the Code to cease to qualify for the
favorable treatment under Section 162(m) of the Code. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control. Without limiting the generality of the foregoing, to
the extent the Board has delegated any authority under this Plan to another committee of the Board, such authority shall not be exercised by the Committee unless expressly permitted by the Board in connection with such delegation. 

(f) Committee Composition. The Board shall have discretion to determine whether or not it intends to comply with the exemption
requirements of Rule 16b-3 and/or Section 162(m) of the Code. Nothing herein shall create an inference that an Award is not validly granted under the Plan in the event Awards are granted under the Plan by
a compensation committee of the Board that does not at all times consist solely of two or more Non-Employee Directors who are also Outside Directors. 

4. Shares Available; Maximum Payouts. 

(a) Shares Available. Subject to adjustment in accordance with Section 13(f), the number of Shares reserved and
available for the grant and issuance of Awards under the Plan is 1,250,000 (“Share Reserve”). If a Participant tenders previously owned Shares or has the Company withhold Shares in satisfaction of any tax withholding requirement or payment
of the purchase price of an Option, such Shares tendered or withheld will not be available again for an Award under the Plan. Shares purchased by the Company with proceeds from Option exercises will not be available for an Award under the Plan.
Shares with respect to and any Awards that are granted under this Plan in substitution for awards relating to shares of common stock of Terex Corporation and Manitex International Inc. and outstanding immediately prior to the IPO, shall reduce the
maximum number of Shares with respect to which Awards may be granted under the Plan. 
 (b) Shares Not Applied to Limitations.
The following will not be applied to the Share limitations of subsection 4(a) above: (i) dividends or dividend equivalents paid in cash in connection with outstanding Awards, (ii) any Shares subject to an Award under the Plan which
Award is forfeited, cancelled, terminated, expires or lapses for any reason, and (iii) Shares and any Awards that are granted through the settlement, assumption, or substitution of outstanding awards previously granted, or through obligations
to grant future awards, as a result of a merger, consolidation, or acquisition of the employing company with or by the Company. If an Award is to be settled in cash, the number of Shares on which the Award is based that are not issued shall not
count toward the Share limitations of subsection 4(a). 
 (c) Award Limitations. During any time that the transition
period under Section 162(m) of the Code has expired or does not apply, in any calendar year, no Participant shall be granted (i) Options to purchase Shares and Stock Appreciation Rights with respect to more than 250,000 Shares in the aggregate,
(ii) any other Awards that are denominated in 

  
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Shares with respect to more than 250,000 Shares in the aggregate, or (iii) any cash Award with a value that exceeds $1,000,000 in the aggregate (such share limits being subject to adjustment
under Section 13(f) hereof). No more than 1,250,000 Shares shall be issued pursuant to the exercise of Incentive Stock Options under this Plan. Notwithstanding the foregoing, no Participant who is a
Non-Employee Director shall be granted any Awards in any calendar year having a value that exceeds $250,000 in the aggregate. 

(d) No Fractional Shares. No fractional Shares may be issued under this Plan; fractional Shares will be rounded down to the
nearest whole Share. 
 5. Eligibility. Incentive Stock Options may be granted only to Employees. All other Awards may be
granted under this Plan to any Employee, Director or Consultant at the discretion of the Committee and those individuals whom the Committee determines are reasonably expected to become Employees, Directors or Consultants following the grant date.

 6. General Terms of Awards. 

(a) Types of Awards. Awards under this Plan may consist of Options (either Incentive Stock Options or Non-Qualified Stock Options), Stock Appreciation Rights, Performance Shares, Restricted Stock, Restricted Stock Units, or Other Awards. The Committee may grant dividend equivalents in connection with the grant of
any Award other than Options and Stock Appreciation Rights. Dividend equivalents may be paid currently or may be deemed to be reinvested in additional Shares, which may thereafter accrue additional equivalents, and may be payable in cash, Shares or
a combination of the two. The Committee will determine the terms of any dividend equivalents in its sole and absolute discretion, as set forth in an Award Agreement. 

(b) Award Agreements. Each Award under this Plan shall be evidenced by an Award Agreement setting forth the number of Shares of
Restricted Stock, Stock, Restricted Stock Units, or Performance Shares, or the amount of cash, subject to such Agreement, or the number of Shares to which the Option applies or with respect to which payment upon the exercise of the Stock
Appreciation Right is to be determined, as the case may be, together with such other terms and conditions applicable to the Award (not inconsistent with this Plan) as determined by the Committee or Board, as applicable, in its sole discretion. 

(c) Term. Each Award Agreement, other than those relating solely to Awards of Stock without restrictions, shall set forth the
Term of the Award and any applicable Performance Period, as the case may be, but in no event shall the Term of an Award or the Performance Period be longer than ten years after the date of grant; provided, however, that the Committee may, in its
discretion, grant Awards with a longer term to Participants who are located outside the United States. An Award Agreement with a Participant may permit acceleration of vesting requirements and of the expiration of the applicable Term upon such terms
and conditions as shall be set forth in the Award Agreement, which may, but, unless otherwise specifically provided in this Plan, need not, include, without limitation, acceleration resulting from the occurrence of the Participant’s death or
Disability. Acceleration of the Performance Period and other performance-based Awards shall be subject to Section 9(b) or Section 12 hereof, as applicable. 

  
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 (d) Transferability. Except as otherwise permitted by the Committee, during the
lifetime of a Participant to whom an Award is granted, only such Participant (or such Participant’s legal representative) may exercise an Option or Stock Appreciation Right or receive payment with respect to any other Award. Except as otherwise
permitted by the Committee, no Award of Restricted Stock (prior to the expiration of the restrictions), Restricted Stock Units, Options, Stock Appreciation Rights, Performance Shares or Other Award (other than an award of Stock without restrictions)
may be sold, assigned, transferred, exchanged, or otherwise encumbered, and any attempt to do so (including pursuant to a decree of divorce or any judicial declaration of property division) shall be of no effect. Notwithstanding the immediately
preceding sentence, an Award Agreement may provide that an Award shall be transferable to a successor in the event of a Participant’s death. 

(e) Termination of Service Generally. Each Award Agreement shall set forth the extent to which the Participant shall have the
right to exercise and/or retain an Award following termination of the Participant’s employment with the Company or its Affiliates, including, without limitation, upon death or a Disability, or other termination of service. Such provisions shall
be determined in the sole discretion of the Committee, shall be included in the Award Agreement, need not be uniform among Award Agreements issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination. 

(f) Change in Control. The Committee may, in its discretion, include provisions in an Award Agreement to address treatment of an
Award in the event of a Change in Control, which may include, by way of example, 100% vesting, lapse of restrictions or deemed achievement of performance goals. In addition, in the event of a Change in Control, the Committee may determine in its
discretion, to the extent determined by the Committee to be permitted under Section 409A of the Code, whether (i) the successor corporation may assume or substitute for each outstanding Award in a manner that will substantially preserve
the otherwise applicable terms of any affected Awards previously granted under the Plan, (ii) the vesting of such Awards held by current service providers may be accelerated in full, and/or (iii) all outstanding Awards are to be cancelled
as of the effective date of the consummation of the Change in Control in exchange for the payment of a cash amount that would have been attained upon exercise or vesting of such awards. In the case of any Option or Stock Appreciation Right with an
exercise price that equals or exceeds the price paid for a Share in connection with the Change in Control, the Committee may cancel the Option or Stock Appreciation Right without the payment of consideration therefor. In the case of Performance
Shares and other Awards subject to Performance Criteria, the Committee shall determine what adjustments, accelerations or amendments, if any, shall be applied to such awards, either at the time of grant or prior to the Change in Control. 

  
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 (g) Rights as Shareholder. Unless otherwise provided in this Plan or an Award
Agreement, a Participant shall have no right as a shareholder with respect to any Shares covered by an Award until the date such Shares have been issued to such Participant. 

(h) Performance Conditions. The Committee may require the satisfaction of certain performance goals as a condition to the grant,
vesting or payment of any Award provided under the Plan. 
 7. Stock Options. 

(a) Terms of All Options. 

(i) Grants. Each Option shall be granted pursuant to an Award Agreement as either an Incentive Stock Option or a Non-Qualified Stock Option. Only Non-Qualified Stock Options may be granted to Participants who are not employees of the Company or an Affiliate. The provisions of separate
Options need not be identical. In no event may Options known as reload options be granted hereunder. The Company shall have no liability to any Participant or any other person if an Option designated as an Incentive Stock Option fails to qualify as
such at any time. 
 (ii) Purchase Price. The purchase price of each Share subject to an Option shall be determined by the Committee
and set forth in the applicable Award Agreement, but shall not be less than 100% of the Fair Market Value of a Share as of the date the Option is granted (other than in connection with grants of substitute Awards described in Section 14). The
purchase price of the Shares with respect to which an Option is exercised shall be payable in full at the time of exercise, in cash or by certified or bank check. The purchase price may be paid, if the Committee so permits and upon such terms as the
Committee shall approve, through delivery or tender to the Company of Shares held, either actually or by attestation, by such Participant (in each case, such Shares having a Fair Market Value as of the date the Option is exercised equal to the
purchase price of the Shares being purchased pursuant to the Option) or through a net or cashless form of exercise as permitted by the Committee, or, if the Committee so permits, a combination thereof. Further, the Committee, in its discretion, may
approve other methods or forms of payment of the purchase price, and establish rules and procedures therefor. Unless otherwise specifically provided in the Agreement, the purchase price of the Shares acquired pursuant to an Option that is paid by
delivery (or attestation) to the Company of other Shares acquired, directly or indirectly from the Company, shall be paid only by Shares that have been held for more than six months (or such longer or shorter period of time required to avoid a
charge to earnings for financial accounting purposes). 
 (iii) Exercisability. Each Option shall vest and be exercisable in whole
or in part on the terms provided in the Award Agreement. In no event shall any Option be exercisable at any time after its Term. When an Option is no longer exercisable, it shall be deemed to have lapsed or terminated. No Option may be exercised for
a fraction of a Share. 

  
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 (iv) Termination of Service. Unless otherwise approved by the Committee and provided in
an Award Agreement or an amendment to an Award Agreement, in the event a Participant’s service terminates (other than upon the Participant’s death or Disability), the Participant may exercise his or her Option (to the extent that the
Participant was entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (a) the date three months following the termination of the Participant’s service or (b) the
expiration of the Term of the Option as set forth in the Award Agreement; provided that, if the termination of service is by the Company for Cause, all outstanding Options (whether or not vested) shall immediately terminate and cease to be
exercisable. If, after termination, the Participant does not exercise his or her Option within the time specified in this Plan or the Award Agreement, the Option shall terminate. Unless otherwise set forth in a written agreement between the Company
and a Participant, he or she shall be deemed to incur a termination of service (for purposes of this provision and continued vesting) in accordance with such rules and determinations made by the Committee. 

(v) Disability of Optionholder. Unless otherwise approved by the Committee and provided in an Award Agreement or an amendment to an
Award Agreement, in the event that a Participant’s service terminates as a result of the Participant’s Disability, the Participant may exercise his or her Option (to the extent that the Participant was entitled to exercise such Option as
of the date of termination), but only within such period of time ending on the earlier of (a) the date 12 months following such termination or (b) the expiration of the Term of the Option as set forth in the Award Agreement. If, after
termination, the Participant does not exercise his or her Option within the time specified in the Award Agreement, the Option shall terminate. 

(vi) Death of Optionholder. Unless otherwise approved by the Committee and provided in an Award Agreement or an amendment to an Award
Agreement, in the event a Participant’s service terminates as a result of the Participant’s death, then the Option may be exercised (to the extent the Participant was entitled to exercise such Option as of the date of death) by the
Participant’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the Option upon the Participant’s death, but only within the period ending on the earlier of
(a) the date 12 months following the date of death or (b) the expiration of the Term of such Option as set forth in the Award Agreement. If, after the Participant’s death, the Option is not exercised within the time specified in this
Plan or the Award Agreement, the Option shall terminate. 
 (b) Incentive Stock Options. In addition to the other terms and
conditions applicable to all Options: 
 (i) the aggregate Fair Market Value (determined as of the date the Option is granted) of
the Shares with respect to which Incentive Stock Options held by an individual first become exercisable in any calendar year (under this Plan and all other incentive stock options plans of the Company and its Affiliates) shall not exceed $100,000
(or such other limit as may be required by the Code), if such limitation is necessary to qualify the Option as an Incentive Stock Option, and to the extent an Option or Options granted to a Participant exceed such limit such Option or Options shall
be treated as Non-Qualified Stock Options; 

  
 12 

 (ii) an Incentive Stock Option shall not be exercisable and the Term of the Award shall
not be more than ten years after the date of grant (or such other limit as may be required by the Code) if such limitation is necessary to qualify the Option as an Incentive Stock Option; 

(iii) the Award Agreement covering an Incentive Stock Option shall contain such other terms and provisions which the Committee
determines necessary to qualify such Option as an Incentive Stock Option; and 
 (iv) notwithstanding any other provision of this
Plan if, at the time an Incentive Stock Option is granted, the Participant owns (after application of the rules contained in Section 424(d) of the Code, or its successor provision) Shares possessing more than ten percent of the total combined
voting power of all classes of stock of the Company or its subsidiaries, (A) the option price for such Incentive Stock Option shall be at least 110% of the Fair Market Value of the Shares subject to such Incentive Stock Option on the date of
grant and (B) such Option shall not be exercisable after the date five years from the date such Incentive Stock Option is granted. 

8. Stock Appreciation Rights. 

(a) Grant. An Award of a Stock Appreciation Right shall entitle the Participant, subject to terms and conditions determined by
the Committee, to receive upon exercise of the Stock Appreciation Right all or a portion of the excess of (i) the Fair Market Value of a specified number of Shares as of the date of exercise of the Stock Appreciation Right over (ii) a
specified purchase price which shall not be less than 100% of the Fair Market Value of such Shares as of the date of grant of the Stock Appreciation Right. Each Stock Appreciation Right shall be subject to such terms as provided in the applicable
Award Agreement. Except as otherwise provided in the applicable Award Agreement, upon exercise of a Stock Appreciation Right, payment to the Participant (or to his or her successor) shall be made in the form of cash, Shares or a combination of cash
and Shares (as determined by the Committee if not otherwise specified in the Award Agreement) as promptly as practicable after such exercise. The Award Agreement may provide for a limitation upon the amount or percentage of the total appreciation on
which payment (whether in cash and/or Stock) may be made in the event of the exercise of a Stock Appreciation Right. 
 (b)
Exercisability. Each Stock Appreciation Right shall vest and be exercisable in whole or in part on the terms provided in the Award Agreement. In no event shall any Stock Appreciation Right be exercisable at any time after its Term. When a
Stock Appreciation Right is no longer exercisable, it shall be deemed to have lapsed or terminated. No Stock Appreciation Right may be exercised for a fraction of a Share. 

  
 13 

 9. Performance Shares. 

(a) Initial Award. An Award of Performance Shares shall entitle a Participant to future payments based upon the achievement of
performance targets established in writing by the Committee. Payment shall be made in cash, Stock, Restricted Stock or any combination, as determined by the Committee. Such performance targets and other terms and conditions shall be determined by
the Committee in its sole discretion. The Award Agreement shall provide for the timing of such payment. 
 (b) Acceleration and
Adjustment. The applicable Award Agreement may permit an acceleration of the Performance Period and an adjustment of performance targets and payments with respect to some or all of the Performance Shares awarded to a Participant, upon such terms
and conditions as shall be set forth in the Award Agreement, upon the occurrence of certain events, which may, but need not, include without limitation, the Participant’s death or Disability, a change in accounting practices of the Company or
its Affiliates, a reclassification, stock dividend, stock split or stock combination, or other event as provided in Section 13(f) hereof. 

(c) Voting; Dividends. Participants holding Performance Shares shall have no voting rights with respect to such Awards and shall
have no dividend rights with respect to Shares subject to such Performances Shares other than as the Committee so provides, in its discretion, in an Award Agreement. 

10. Restricted Stock and Restricted Stock Unit Awards. 

(a) Grant. A Restricted Stock Award is an Award of actual Shares, and a Restricted Stock Unit Award is an unfunded and unsecured
promise to deliver shares of Common Stock, cash, other securities or other property, subject to certain conditions or restrictions. All or any part of any Restricted Stock or Restricted Stock Unit Award may be subject to such conditions and
restrictions as may be established by the Committee, and set forth in the applicable Award Agreement, which may include, but are not limited to, service requirements, a requirement that a Participant pay a purchase price for such Award, the
achievement of specific performance goals, and/or applicable securities laws restrictions. Subject to the restrictions set forth in the Award Agreement, during any period during which an Award of Restricted Stock or Restricted Stock Units is
restricted and subject to a substantial risk of forfeiture, if at all, (i) Participants holding Restricted Stock Awards may exercise full voting rights with respect to such Shares and shall be entitled to receive all dividends and other
distributions paid with respect to such Shares while they are so restricted and (ii) Participants holding Restricted Stock Units shall have no dividend rights with respect to Shares subject to such Restricted Stock Units other than as the
Committee so provides, in its discretion, in an Award Agreement, and shall have no voting rights with respect to such Awards. Any dividends or dividend equivalents may be paid currently or may be credited to a Participant’s account and may be
subject to such restrictions and conditions as the Committee may establish. If the Committee determines that Restricted Stock shall be held by the Company or in escrow rather than delivered to the Participant pending the release of the applicable
restrictions, the Committee may require the Participant to execute and deliver to the Company an escrow agreement satisfactory to the Committee, if applicable, and an appropriate blank stock power with respect to the Restricted Stock covered by such
agreement. 

  
 14 

 (b) Restrictions. 

(i) Restricted Stock awarded to a Participant may be subject to the following restrictions until the expiration of the period during
which the Award is restricted, and to such other terms and conditions as may be set forth in the applicable Award Agreement: (A) if an escrow arrangement is used, the Participant shall not be entitled to delivery of the stock certificate;
(B) the Shares shall be subject to the restrictions on transferability, if any, set forth in the Award Agreement; (C) the Shares shall be subject to forfeiture for such period and subject to satisfaction of any applicable performance goals
during such period, to the extent provided in the applicable Award Agreement; and (D) to the extent such Shares are forfeited, the stock certificates, if any, shall be returned to the Company, and all rights of the Participant to such Shares
and as a shareholder with respect to such shares shall terminate without further obligation on the part of the Company. 
 (ii)
Restricted Stock Units awarded to any Participant may be subject to (A) forfeiture until the expiration of the period during which the Award is restricted, and the satisfaction of any applicable performance goals during such period, to the
extent provided in the applicable Award Agreement, and to the extent such Restricted Stock Units are forfeited, all rights of the Participant to such Restricted Stock Units shall terminate without further obligation on the part of the Company and
(B) such other terms and conditions as may be set forth in the applicable Award Agreement. 
 (iii) The Committee shall have
the authority to remove any or all of the restrictions on the Restricted Stock and Restricted Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date the Restricted
Stock or Restricted Stock Units are granted, such action is appropriate. 
 (c) Restricted Period. Each certificate
representing Restricted Stock awarded under the Plan shall bear a legend in such form as the Company deems appropriate. 
 11.
Other Awards. The Committee may from time to time grant Other Awards under this Plan, including without limitation those Awards pursuant to which a cash bonus award may be made or pursuant to which Shares may be acquired in the future, such
as Awards denominated in Stock, Stock units, securities convertible into Stock and phantom securities. The Committee, in its sole discretion, shall determine, and provide in the applicable Award Agreement for, the terms and conditions of such Awards
provided that such Awards shall not be inconsistent with the terms and purposes of this Plan. The Committee may, in its sole discretion, direct the Company to issue Shares subject to restrictive legends and/or stop transfer instructions which are
consistent with the terms and conditions of the Award to which such Shares relate. In addition, the Committee may, in its sole discretion, issue such Other Awards subject to the performance criteria under Section 12 hereof.

  
 15 

 12. Performance-Based Awards. 

(a) Application to Covered Employee. Notwithstanding any other provision of the Plan, if the Committee determines at the time
any Award is granted to a Participant that such Participant is, or is likely to be as of the end of the tax year in which the Company would claim a tax deduction in connection with such Award, a “covered employee” within the meaning of
Section 162(m)(3) of the Code, then the Committee may provide that this Section 12 is applicable to such Award. Notwithstanding the foregoing, the Committee may provide, in its discretion, that an Award granted to any
other Participant is subject to this Section 12, to the extent the Committee deems appropriate, whether or not Section 162(m) of the Code is or would be applicable with respect to such Participant. 

(b) Performance Goals. Awards under the Plan may be made subject to the achievement of Performance Criteria, which shall be
performance goals established by the Committee relating to one or more business criteria pursuant to Section 162(m) of the Code. Performance Criteria may be applied to the Company, an Affiliate, division, business unit, corporate group or
individual or any combination thereof and may be measured in absolute levels or relative to another company or companies, a peer group, an index or indices or Company performance in a previous period. Performance may be measured over such period of
time as determined by the Committee. Performance Criteria that may be used to establish performance goals are: (1) net earnings or net income; (2) operating earnings; (3) pretax earnings; (4) earnings per share of stock;
(5) stock price, including growth measures and total stockholder return; (6) earnings before interest and taxes; (7) earnings before interest, taxes, depreciation and/or amortization; (8) sales or revenue growth, whether in
general, by type of product or service, or by type of customer; (9) gross or operating margins; (10) return measures, including return on assets, capital, investment, equity, sales or revenue; (11) cash flow, including operating cash
flow, free cash flow, cash flow return on equity and cash flow return on investment; (12) productivity ratios; (13) expense targets; (14) market share; (15) financial ratios as provided in credit agreements of the Company;
(16) working capital targets; (17) completion of acquisitions of business or companies; (18) completion of divestitures and asset sales; (19) revenues under management; (20) funds from operations; (21) entering into
contractual arrangements; (22) meeting contractual requirements; (23) achieving contractual milestones; (24) entering into collaborations; (25) product development; (26) production volume levels; and (27) any
combination of the foregoing business criteria. The Committee may provide for exclusion of the impact of an event or occurrence which the Committee determines should appropriately be excluded, including (a) restructurings, discontinued
operations, extraordinary items, and other unusual or non-recurring charges, (b) an event either not directly related to the operations of the Company, Subsidiary, division, business segment or business
unit or not within the reasonable control of management, or (c) the cumulative effects of tax or accounting changes in accordance with U.S. generally accepted accounting principles. Such performance goals (and any exclusions) shall (i) be
set by the Committee prior to the earlier of (i) 90 days after the commencement of the applicable Performance Period and the expiration of 25% of the Performance Period, and (ii) otherwise comply with the requirements of,
Section 162(m) of the Code and the regulations 

  
 16 

 
thereunder. Unless otherwise specifically provided by the Committee when authorizing an Award, all performance-based criteria, including any adjustment described in the preceding sentence, shall
be determined by applying U.S. generally accepted accounting principles, as reflected in the Company’s audited financial statements. The performance goals for each Participant and the amount payable if those goals are met shall be established
in writing for each specified period of performance by the Committee no later than 90 days after the commencement of the period of service to which the performance goals relate and while the outcome of whether or not those goals will be achieved is
substantially uncertain. However, in no event will such goals be established after 25% of the period of service to which the goals relate has elapsed. The performance goals shall be objective. Such goals and the amount payable for each performance
period if the goals are achieved shall be set forth in the applicable Award Agreement. Following the conclusion of each Performance Period, the Committee shall determine the extent to which (i) Performance Criteria have been attained,
(ii) any other terms and conditions with respect to an Award relating to such Performance Period have been satisfied, and (iii) payment is due with respect to a performance-based Award. No amounts shall be payable to any Participant for
any Performance Period unless and until the Committee certifies that the Performance Criteria and any other material terms were in fact satisfied. 

(c) Adjustment of Payment. With respect to any Award that is subject to this Section 12, the Committee
may adjust downwards, but not upwards, the amount payable pursuant to such Award. The applicable Award Agreement may permit an acceleration of the Performance Period and an adjustment of performance targets and payments with respect to some or all
of the performance-based Award(s) awarded to a Participant, upon such terms and conditions as shall be set forth in the Agreement, upon the occurrence of certain events; provided, however, that any such acceleration or adjustment shall be made only
to the extent and in a manner consistent with Section 162(m) of the Code. 
 (d) Other Restrictions. The Committee shall
have the power to impose such other restrictions on Awards subject to this Section 12 as it may deem necessary or appropriate to ensure that such Awards satisfy all requirements for “performance-based
compensation” within the meaning of Section 162(m)(4)(C) of the Code, or any successor provision thereto. 
 13. General
Provisions. 
 (a) Effective Date of this Plan. This Plan shall become effective as of the Effective Date. 

(b) Duration of this Plan; Date of Grant. This Plan shall remain in effect for a term of ten years following the Effective Date
or until all Shares subject to the Plan shall have been purchased or acquired according to the Plan’s provisions, whichever occurs first, unless this Plan is sooner terminated pursuant to Section 13(e) hereof. No Awards shall be
granted pursuant to the Plan after such Plan termination or expiration, but outstanding Awards may extend beyond that date and the Plan will remain in effect with respect to such outstanding Awards until no Awards remain outstanding. The date and
time of approval by the Committee 

  
 17 

 
of the granting of an Award shall be considered the date and time at which such Award is made or granted, or such later effective date as determined by the Committee, notwithstanding the date of
any Award Agreement with respect to such Award; provided, however, that the Committee may grant Awards other than Incentive Stock Options to Participants or to persons who are about to become Participants, to be effective and deemed to be granted on
the occurrence of certain specified contingencies, provided that if the Award is granted to a non-Participant who is about to become a Participant, such specified contingencies shall include, without
limitation, that such person becomes a Participant. 
 (c) Right to Terminate Service. Nothing in this Plan or in any Award
Agreement shall confer upon any Participant the right to continue in the employment or other service of the Company or any Affiliate or affect any right which the Company or any Affiliate may have to terminate or modify the employment or other
service of the Participant with or without cause. 
 (d) Tax Withholding. The Company shall have the right to withhold from
any payment of cash or Stock to a Participant or other person an amount sufficient to cover any required withholding taxes, including the Participant’s social security and Medicare taxes (FICA) and federal, state,
back-up and local income tax with respect to income arising from the Award. The Company shall have the right to require the payment of any such taxes before issuing any Stock pursuant to the Award. In lieu of
all or any part of a cash payment from a person receiving Stock under this Plan, the Committee may, in the applicable Award Agreement or otherwise, permit a person to cover all or any part of the required withholdings, and to cover any additional
withholdings up to the amount needed to cover the person’s full FICA and federal, state and local income tax with respect to income arising from payment of the Award, through a reduction of the numbers of Shares delivered to such person or a
delivery or tender to the Company of Shares held by such person, in each case valued in the same manner as used in computing the withholding taxes under applicable laws. 

(e) Amendment, Modification and Termination of this Plan. Except as provided in this Section 13(e), the Board may
at any time amend, modify, terminate or suspend this Plan. Except as provided in this Section 13(e), the Committee may at any time alter or amend any or all Award Agreements under this Plan to the extent permitted by law, in which
event, the term “Award Agreement” shall mean the Award Agreement as so amended. Any such alterations or amendments may be made unilaterally by the Committee, subject to the provisions of this Section 13(e), unless such
amendments are deemed by the Committee to be materially adverse to the Participant and are not required as a matter of law. Amendments are subject to approval of the shareholders of the Company only as required by applicable law or regulation or
rules of the applicable stock exchange, or if the amendment increases the total number of shares available under this Plan, except as provided in Section 13(f). No termination, suspension or modification of this Plan may materially and
adversely affect any right acquired by any Participant under an Award granted before the date of termination, suspension or modification, unless otherwise provided in an Award Agreement or otherwise or required as a matter of law. It is conclusively
presumed that any adjustment for changes in capitalization 

  
 18 

 
provided for in Sections 9(b), 12(c) or 13(f) hereof does not adversely affect any right of a Participant or other person under an Award. It is expressly contemplated that
the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Participants with the maximum benefits provided or to be provided under the provisions of the Code relating to Incentive Stock Options or to the
provisions of Section 409A of the Code and/or to bring the Plan and/or Awards granted under it into compliance therewith. 
 (f)
Adjustment for Changes in Capitalization. Appropriate adjustments in the aggregate number and type of securities that may be issued, represented, and available for Awards under this Plan, in the limitations on the number and type of
securities that may be issued to an individual Participant, in the number and type of securities and amount of cash subject to Awards then outstanding, in the Option purchase price as to any outstanding Options, in the purchase price as to any
outstanding Stock Appreciation Rights, and, subject to Sections 9(b) and 12(c) hereof, in outstanding Performance Shares and performance-based Awards and payments with respect to outstanding Performance Shares and
performance-based Awards, and comparable adjustments, if applicable, to any outstanding Other Award, automatically shall be made to give effect to adjustments made in the number or type of Shares through a Fundamental Change, divestiture,
distribution of assets to shareholders (other than ordinary cash dividends), reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, stock combination or exchange, rights offering, spin-off or other relevant change, provided that fractional Shares shall be rounded down to the nearest whole Share. 

(g) Other Benefit and Compensation Programs. Payments and other benefits received by a participant under an Award shall not be
deemed a part of a Participant’s regular, recurring compensation for purposes of any termination, indemnity or severance pay laws and shall not be included in, nor have any effect on, the determination of benefits under any other employee
benefit plan, contract or similar arrangement provided by the Company or an Affiliate, unless expressly so provided by such other plan, contract or arrangement or the Committee determines that an Award or portion of an Award should be included to
reflect competitive compensation practices or to recognize that an Award has been made in lieu of a portion of competitive cash compensation. 

(h) Unfunded Plan. This Plan shall be unfunded and the Company shall not be required to segregate any assets that may at any
time be represented by Awards under this Plan. Neither the Company, its Affiliates, the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under this Plan nor shall anything contained in this Plan or any action taken
pursuant to its provisions create or be construed to create a fiduciary relationship between the Company and/or its Affiliates, and a Participant or successor. To the extent any person acquires a right to receive an Award under this Plan, such right
shall be no greater than the right of an unsecured general creditor of the Company. 

  
 19 

 (i) Limits of Liability. 

(i) Any liability of the Company to any Participant with respect to an Award shall be based solely upon contractual obligations
created by this Plan and the Award Agreement. 
 (ii) Except as may be required by law, neither the Company nor any member or former
member of the Board or the Committee, nor any other person participating (including participation pursuant to a delegation of authority under Section 3(c) hereof) in any determination of any question under this Plan, or in the interpretation,
administration or application of this Plan, shall have any liability to any party for any action taken, or not taken, in good faith under this Plan. 

(iii) To the full extent permitted by law, each member and former member of the Committee and each person to whom the Committee
delegates or has delegated authority under this Plan shall be entitled to indemnification by the Company against any loss, liability, judgment, damage, cost and reasonable expense incurred by such member, former member or other person by reason of
any action taken, failure to act or determination made in good faith under or with respect to this Plan. 
 (j) Compliance with
Applicable Legal Requirements. The Company shall not be required to issue or deliver a certificate for Shares distributable pursuant to this Plan unless the issuance of such certificate complies with all applicable legal requirements including,
without limitation, compliance with the provisions of applicable state securities laws, the Securities Act of 1933, as amended and in effect from time to time or any successor statute, the Exchange Act and the requirements of the exchanges, if any,
on which the Company’s Shares may, at the time, be listed. 
 (k) Deferrals and Settlements. The Committee may require or
permit Participants to elect to defer the issuance of Shares or the settlement of Awards in cash under such rules and procedures as it may establish under this Plan. It may also provide that deferred settlements include the payment or crediting of
interest on the deferral amounts. 
 (l) Acceleration. The Committee shall have the power to accelerate the time at which an
Award may first be exercised or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award stating the time at which it may first be exercised or the time during which it
will vest. 
 (m) Forfeiture. The Committee may specify in an Award Agreement that the Participant’s rights, payments and
benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain events, in addition to applicable vesting conditions of an Award. Such events may include, without limitation,
breach of non-competition, non-solicitation, confidentiality, or other restrictive covenants that are contained in the Award Agreement or otherwise applicable to the
Participant, a termination of the Participant’s service for Cause, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 

  
 20 

 (n) Clawback and Noncompete. Notwithstanding any other provisions of this Plan, any
Award which is subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock
exchange listing requirement, or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement. In addition and notwithstanding any other provisions of this Plan, any Award shall be subject
to such noncompete provisions under the terms of the Award Agreement or any other agreement or policy adopted by the Company, including, without limitation, any such terms providing for immediate termination and forfeiture of an Award if and when a
Participant becomes an employee, agent or principal of a competitor without the express written consent of the Company. 
 (o) Sub-plans. The Committee may from time to time establish sub-plans under the Plan for purposes of satisfying blue sky, securities, tax or other laws of various
jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Committee determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the
sub-plan was designed. 
 (p) Plan Headings. The headings in the Plan are for purposes
of convenience only and are not intended to define or limit the construction of the provisions hereof. 
 (q) Non-Uniform Treatment. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively among persons who are eligible to receive, or actually receive, Awards. Without
limiting the generality of the foregoing, the Committee shall be entitled to make non-uniform and selective determinations, amendments and adjustments and to enter into
non-uniform and selective Award Agreements. 
 14. Substitute Awards. Awards may be
granted under this Plan from time to time in substitution for Awards held by employees of other entities who are about to become Participants, or whose employer is about to become a Subsidiary of the Company, as the result of a merger or
consolidation of the Company or a Subsidiary of the Company with another entity, the acquisition by the Company or a Subsidiary of the Company of all or substantially all the assets of another entity or the acquisition by the Company or a Subsidiary
of the Company of at least 50% of the issued and outstanding stock of another entity. The terms and conditions of the substitute Awards so granted may vary from the terms and conditions set forth in this Plan to such extent as the Board at the time
of the grant may deem appropriate to conform, in whole or in part, to the provisions of the Awards in substitution for which they are granted, but with respect to Awards which are Incentive Stock Options, no such variation shall be permitted which
affects the status of any such substitute option as an Incentive Stock Option. 

  
 21 

 Awards may be granted under this Plan in substitution for awards relating to shares of common
stock of Terex Corporation and Manitex International Inc. and outstanding immediately prior to the IPO. The terms and conditions of any substitute Awards so granted may vary from the terms and conditions set forth in this Plan to such extent the
Board or the Committee, as applicable, at the time of the grant may deem appropriate to conform, in whole or in part, to the provisions of the awards in substitution for which they are granted. Notwithstanding the foregoing, nothing herein shall
require such substitute Awards to be made under this Plan, the terms of any such substitute Awards may vary from Award to Award, and any such substitute Awards may be made with respect to one or more prior awards (in whole or in part) and
individuals and need not be made with respect to all prior awards or with respect to all such individuals. The Board or the Committee, as applicable, shall have discretion to select individuals to whom such substitute Awards are to be granted and
the applicable terms and number of shares applicable to such Awards. 
 15. Governing Law. To the extent that federal laws do
not otherwise control, this Plan and all determinations made and actions taken pursuant to this Plan shall be governed by the laws of Minnesota, without giving effect to principles of conflicts of laws, and construed accordingly, except for those
matters subject to the General Corporation Law of Delaware, which shall be governed by such law, without giving effect to principles of conflicts of laws, and construed accordingly. 

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

17. Section 409A. The Plan is intended to comply with Section 409A of the Code to the extent subject
thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith. Any payments that are due within the short-term deferral period as defined in Section 409A of the Code
shall not be treated as deferred compensation unless applicable laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid adverse tax consequences under Section 409A of the Code, amounts that
would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six-month period immediately following the Participant’s termination of service shall instead be
paid on the first payroll date after the six-month anniversary of the Participant’s separation from service (or the Participant’s death, if earlier). Notwithstanding the foregoing, neither the
Company nor the Committee shall have any obligation to take any action to prevent the assessment of any tax or penalty under Section 409A of the Code and neither the Company nor the Committee will have any liability to any Participant or
otherwise for such tax or penalty. 

  
 22EX-4.1

 Exhibit 4.1 

PBF ENERGY INC. 
 2017
Equity Incentive Plan 

							
	1.	  	 Purpose
	  	 	1	 
			
	2.	  	 Definitions
	  	 	1	 
			
	3.	  	 Administration of Plan
	  	 	6	 
			
	4.	  	 Awards
	  	 	7	 
			
	5.	  	 Options
	  	 	8	 
			
	6.	  	 Stock Appreciation Rights (SARs)
	  	 	10	 
			
	7.	  	 Performance-Based Awards
	  	 	11	 
			
	8.	  	 Other Awards
	  	 	12	 
			
	9.	  	 Shares Subject to the Plan; Limitations and Conditions
	  	 	13	 
			
	10.	  	 Transfers; Leaves of Absence; Separation from Service
	  	 	15	 
			
	11.	  	 Adjustments and Other Corporate Events
	  	 	15	 
			
	12.	  	 Amendment and Termination of Plan and Awards
	  	 	16	 
			
	13.	  	 Governing Law; Foreign Awards
	  	 	17	 
			
	14.	  	 Conformity to Section 409A
	  	 	17	 
			
	15.	  	 Withholding Taxes
	  	 	18	 
			
	16.	  	 Effective Date
	  	 	18	 
			
	17.	  	 Miscellaneous
	  	 	18	 

  
 -i- 

 PBF ENERGY INC. 

2017 Equity Incentive Plan 
  

	 	1.	Purpose. 

 The PBF Energy Inc. 2017 Equity Incentive Plan, as it may be amended from time
to time (the “Plan”) is designed to: 
 (a) promote the long term financial interests and growth of PBF Energy Inc., a
Delaware corporation (the “Company”), and its subsidiaries and Affiliates (as defined below) by attracting and retaining management and other personnel with the training, experience and ability to enable them to make a substantial
contribution to the success of the Company; 
 (b) motivate management and other personnel by means of growth-related incentives to achieve
long range goals; and 
 (c) further the alignment of interests of Grantees (as defined below) with those of the stockholders of the
Company, including through opportunities for increased equity, or equity-based ownership, in the Company. 
  

	 	2.	Definitions. 

 As used in the Plan, and unless otherwise specified in an applicable Award
Agreement (as defined below), the following capitalized terms shall have the following meanings: 
 (a) “Affiliate” means
with respect to any Person, (i) any other Person directly or indirectly through one or more intermediaries controlling, controlled by or under common control with such Person; or (ii) any entity in which the Company has a significant
equity interest, as determined by the Committee. 
 (b) “Award” means an award made to a Grantee pursuant to the Plan and
described in Section 4 hereof. 
 (c) “Award Agreement” means a written or electronic agreement or documents between
the Company and a Grantee that sets forth the terms, conditions and limitations applicable to an Award. 
 (d) “Beneficial
Owner” means a “beneficial owner,” as such term is defined in Rule 13d-3 under the Exchange Act (or any successor rule thereto). 

(e) “Board” means the Board of Directors of the Company. 

(f) “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in New York City are
authorized or obligated by federal law or executive order to be closed. 

 (g) “Cause” means the definition of “Cause” used in the Grantee’s
then-effective employment agreement or other service-related agreement with the Company (or any of its subsidiaries or Affiliates), or, if the Grantee does not have an employment agreement or other service-related agreement with the Company (or any
of its subsidiaries or Affiliates), or if such term is not defined therein, then Cause shall mean: (A) the commission of an act of gross negligence, willful misconduct, breach of fiduciary duty, fraud, theft or embezzlement on the part of the
Grantee, in any case that adversely affects or may reasonably be expected to adversely affect the business or reputation of the Company, its subsidiaries, or any Affiliate; (B) the conviction or indictment of the Grantee, or a plea of nolo
contendere by the Grantee, to any felony or any crime involving moral turpitude; or (C) the continued failure or refusal to perform the duties of the Grantee’s position for which they are employed if such failure to perform is not
cured by the Grantee within thirty (30) days after notice. 
 (h) “Change in Control” means the occurrence of any of
the following: 
 (i) any Person or Group (other than one or more of the Excluded Entities) is or becomes the Beneficial
Owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power of the Company’s then outstanding voting securities entitled to vote generally in the election of Directors (including by way of merger, consolidation
or otherwise); 
 (ii) the sale or disposition, in one or a series of related transactions, of all or substantially all of
the assets of the Company and its subsidiaries, taken as a whole, to any Person or Group (other than one or more of the Excluded Entities); 

(iii) a merger, consolidation or reorganization of the Company (other than (x) with or into, as applicable, any of the
Excluded Entities or (y) in which the stockholders of the Company, immediately before such merger, consolidation or reorganization, own, directly or indirectly immediately following such merger, consolidation or reorganization, at least fifty
percent (50%) of the combined voting power of the outstanding voting securities of the corporation resulting from such merger, consolidation or reorganization); 

(iv) the complete liquidation or dissolution of the Company; or 

(v) during any period of two (2) consecutive years, individuals who at the beginning of such period constituted the Board
(together with any new Directors whose election by such Board or whose nomination for election by the stockholders of the Company was approved by a vote of a majority of the Directors of the Company, then still in office, who were either Directors
at the beginning of such period or whose election or nomination for election was previously so approved) (the “Incumbent Board”) cease for any reason to constitute a majority of the Board then in office; provided that, any
Director appointed or elected to the Board to avoid or settle a threatened or actual proxy contest shall in no event be deemed to be an individual on the Incumbent Board. 

  
 -2- 

 Notwithstanding the above, in the event that an Award is “nonqualified deferred
compensation” subject to Section 409A and Change in Control is a payment, delivery or issuance event, or changes the time and form of payment, delivery or issuance, an event shall not constitute a Change in Control for purposes of such payment,
delivery or issuance (or change in time and form of payment) unless that Change in Control also constitutes a “change in the ownership of a corporation,” a “change in the effective control of a corporation,” or a “change in
the ownership of a substantial portion of a corporation’s assets,” in each case, within the meaning of Treasury Regulation Section 1.409A-3(i)(5) promulgated under Section 409A. 

(i) “Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto. 

(j) “Committee” means the Compensation Committee of the Board (or a subcommittee thereof) or such other committee of the
Board (including, without limitation, the full Board) to which the Board has delegated the power to act under or pursuant to the provisions of the Plan. 

(k) “Director” means a member of the Board or a member of the board of directors (or similar governing body) of a subsidiary
of the Company. 
 (l) “Effective Date” means the date the Plan is approved by the Company’s stockholders within
twelve (12) months after the adoption of the Plan by the Board. 
 (m) “Exchange Act” means the Securities Exchange
Act of 1934, as amended, or any successor thereto. 
 (n) “Exercise Price” means (i) in the case of Options, the price
specified in the Grantee’s Award Agreement as the price-per-share at which such Share can be purchased pursuant to the Option or (ii) in the case of SARs, the
price specified in the Grantee’s Award Agreement as the reference price-per-share of a Share used to calculate the amount payable to the Grantee. 

(o) “Excluded Entity” means any of the following: (i) the Company and any Persons of which a majority of the voting
power of its voting equity securities and equity interests is owned directly or indirectly by the Company; and (ii) any employee benefit plan (or trust forming a part thereof) sponsored or maintained by any of the foregoing. 

(p) “Fair Market Value” means (i) if Shares of the Company are traded on a national securities exchange on any specified
date, the closing price at which one Share is traded on the stock exchange on which Shares are primarily traded, or (ii) if the Shares are not then traded on a stock exchange, the average of the closing representative bid and asked price of a
Share as reported by the principal securities exchange or securities trading market on which the Shares are listed or approved for trading, but if no Shares were traded on such date, then on the last previous date on which a Share was so traded, or,
(iii) if none of the above are applicable, Fair Market 

  
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Value shall be determined at the discretion of the Committee; provided, however, such valuation method shall be in accordance with Section 409A, to the extent applicable. The
Committee may adopt a different methodology for determining Fair Market Value if necessary or advisable to secure any intended favorable tax, legal or other treatment for the particular Award. 

(q) “Good Reason” means the definition of “Good Reason” used in the Grantees’s then-effective employment
agreement or other service-related agreement with the Company (or any of its subsidiaries or Affiliates), or if the Grantee does not have an employment agreement or other service-related agreement with the Company (or any of its subsidiaries or
Affiliates) or such term is not defined therein, then Good Reason shall exist in the event of, without the Grantee’s consent: (i) an adverse, material and sustained diminution of the Grantee’s duties, (ii) the Company requiring a
change in the location for performance of Grantees’s employment responsibilities hereunder to a location more than 50 miles from the Grantees’s current employment location (not including ordinary travel during the regular course of
employment), or (iii) the failure of the Company or any of its Affiliates or subsidiaries to pay or cause to be paid the Grantee’s base salary or other compensation or fees when due; provided, that prior to the Grantee’s termination
of employment or other separation from service for Good Reason, the Grantee must give written notice to the Company (or the Affiliate or subsidiary which employs him or to which he renders services) of any such event that constitutes Good Reason
within twenty (20) days of the occurrence of such event and such event must remain uncorrected for thirty (30) days following receipt of such written notice; and provided further that any termination due to Good Reason must occur no later
than sixty (60) days after the occurrence of the event giving rise to Good Reason. 
 (r) “Grantee” means the
recipient of an Award or grant under the Plan, including any employee, Director, consultant or other service provider who is selected by the Committee to participate in the Plan, including any Person to whom one or more Awards have been made and
remain outstanding. 
 (s) “Group” means “group,” as such term is used for purposes of Section 13(d) or 14(d) of
the Exchange Act. 
 (t) “Incentive Stock Option” means an option to purchase Shares under Section 5(d) of the Plan that is
intended to qualify for special federal income tax treatment pursuant to Sections 421 and 422 of the Code, or pursuant to a successor provision of the Code, and which is so designated in the applicable Option Award Agreement. If an Option is
intended to be an Incentive Stock Option, and, if for any reason such Option (or portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a
Nonqualified Stock Option. 
 (u) “Nonqualified Stock Option” means an Option to purchase Shares that is not an Incentive
Stock Option. 

  
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 (v) “Option” means an option to purchase Shares granted under Section 5 of
the Plan. Options may either be Incentive Stock Options or Nonqualified Stock Options. An Option shall only be an Incentive Stock Option if it is so designated in the applicable Award Agreement. 

(w) “Other Awards” means Awards granted pursuant to Section 8 of the Plan. 

(x) “Performance Goal” means one or more standards established by the Committee in connection with any qualified
performance-based compensation, as described in Section 7 hereof. A Performance Goal shall be based upon one or more of the following criteria: (i) consolidated income before or after taxes (including income before interest, taxes,
depreciation and amortization); (ii) EBITDA; (iii) adjusted EBITDA; (iv) operating income; (v) net income; (vi) net income and/or earnings per Share; (vii) book value per Share; (viii) return on capital and/or equity;
(ix) expense management; (x) return on investment; (xi) improvements in capital structure; (xii) profitability of an identifiable business unit or product; (xiii) maintenance or improvement of profit margins;
(xiv) stock price; (xv) market share; (xvi) revenue or sales; (xvii) costs; (xviii) cash flow; (xix) working capital; (xx) multiple of invested capital; (xxi) total return; (xxii) environmental, health and
safety; (xxiii) operating performance; (xxiv) commercial optimization or (xxv) except for Awards granted to any “covered employee” that are intended by the Company to be deductible by the Company under Section 162(m) of the
Code and for which the provision of one or more of the aforementioned Performance Goals would be required to preserve deductibility of compensation in respect of such Award under Section 162(m), such other objective performance criteria as
determined by the Committee in its sole discretion. The foregoing criteria may relate to the Company, one or more of its Affiliates or one or more of its or their divisions or units, or any combination of the foregoing, and may be applied on an
absolute basis and/or be relative to one or more peer group companies or indices, or any combination thereof, all as the Committee shall determine. In addition, consistent with Section 162(m) of the Code (or any successor section thereto), the
Performance Goals may be calculated without regard to extraordinary items or accounting treatment that does not reflect performance criteria. 

(y) “Performance-Based Awards” means Awards granted or transferred to a Grantee in accordance with Section 7 hereof.

 (z) “Person” means any “person,” as such term is used for purposes of Section 13(d) or 14(d) of the Exchange
Act. 
 (aa) “Prior Incentive Plan” means the Amended and Restated PBF Energy Inc. 2012 Equity Incentive Plan, as amended
from time to time. 
 (bb) “Section 409A” means Section 409A of the Code, as amended, and the regulations, rulings, notices
or other guidance promulgated thereunder. 
 (cc) “Share” means a share of Class A common stock of the Company. 

  
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 (dd) “Subsidiary” means a subsidiary corporation, as defined in Section 424(f)
of the Code, as amended, and the regulations, rulings, notices or other guidance promulgated thereunder. 
 (ee) “Stock Appreciation
Right” or “SAR” means a stock appreciation right granted pursuant to Section 6 the Plan. 
  

	 	3.	Administration of Plan. 

 (a) Committee. The Plan shall be administered by the
Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof consisting solely of at least two individuals who are intended to qualify as “non-employee
directors” within the meaning of Rule 16b-3 under the Exchange Act, “independent directors” within the meaning of the New York Stock Exchange listed company rules and “outside
directors” within the meaning of Section 162(m) of the Code, to the extent any provisions or rules are applicable to the Company or the Plan; provided, however, that the Board may, in its sole discretion, take any action
designated to the Committee under the Plan as it may deem necessary for the effective administration of the Plan. 
 (b) Powers and
Duties of the Committee. Subject to Section 12, the Committee shall have full power and authority to administer and interpret the Plan, Awards granted under the Plan and each Award Agreement, including, without limitation, the power to
(i) exercise all of the powers granted to it under the Plan, (ii) construe, interpret and implement the Plan and any Award Agreement, (iii) prescribe, amend and rescind rules and regulations relating to the Plan, including rules
governing its own operations, (iv) make all determinations necessary or advisable in administering the Plan, Awards and any Award Agreements, (v) correct any defect, supply any omission and reconcile any inconsistency in the Plan, Awards
or any Award Agreement, (vi) amend the Plan, Awards and any Award Agreement to reflect changes in applicable law, (vii) determine from among those persons determined to be eligible for the Plan, the particular persons who will be Grantees,
when such Awards shall be granted and the terms of such Awards, including setting forth provisions with regard to vesting, (viii) grant Awards under the Plan and determine the terms and conditions of such Awards, consistent with the express
limitations of the Plan, (ix) delegate such powers and authority to such persons as it deems appropriate, provided that any such delegation is consistent with applicable law and any guidelines as may be established by the Board from time
to time, and (x) waive any conditions under any Awards. Awards granted under the Plan shall be subject to a minimum vesting period of not less than one year from the date of grant of the Award. This minimum vesting period may be accelerated or
waived in the event of a Grantee’s death, disability, retirement, termination of employment, upon a Change in Control or such other events that the Committee determines. Notwithstanding the minimum vesting period, up to five percent (5%) of the
shares reserved for Awards under Section 9(a) of the Plan, subject to adjustment under Section 11, may be granted with vesting terms not conforming to the one year minimum vesting period. 

  
 -6- 

 (c) Outside Advisors to the Committee. The Committee may employ counsel, consultants,
accountants, appraisers, brokers or other persons at the expense of the Company. The Committee, the Company, and the officers or Directors of the Company shall be entitled to rely upon the advice, opinions or valuations of any such persons. 

(d) Authority; Liability. All actions taken and all interpretations and determinations made by the Committee in good faith shall be
final, conclusive and binding upon all Grantees, the Company and all other interested persons. No member of the Committee shall be liable for any action, determination or interpretation made in good faith with respect to the Plan or the Awards, and
all members of the Committee shall be fully protected by the Company with respect to any such action, determination or interpretation. 
  

	 	4.	Awards. 

 (a) General. From time to time, the Committee will determine the form,
amounts, terms, conditions and limitations of Awards, consistent with the terms of this Plan. The form, amount, terms, conditions and limitations of each Award under the Plan shall be set forth in an Award Agreement, in a form approved by the
Committee, consistent, however, with the terms of the Plan, which Award Agreement may contain, among other things, provisions dealing with the treatment of Awards in the event of the termination of employment or service (as applicable), disability
or death of a Grantee. By accepting an Award, a Grantee thereby agrees that the Award shall be subject to all the terms and provisions of the Plan and the applicable Award Agreement. 

(b) Forms of Award. An Award may be made by the Committee in the form of Options, SARs, Performance-Based Awards or Other Awards that
the Committee determines are consistent with the Plan and the interests of the Company as described further in Section 8 below. 
 (c)
Rights of Grantees. No Grantee (or other person having rights pursuant to an Award) shall have any of the rights of a stockholder of the Company with respect to such Shares subject to an Award until the delivery of such Shares. Except as
otherwise provided in Section 11(a), no adjustments shall be made for dividends or distributions on (whether ordinary or extraordinary, and whether in cash, Shares, other securities or other property), or other events relating to, Shares subject to
an Award for which the record date is prior to the date such Shares are delivered. 
 (d) Clawback. Notwithstanding any other
provision of this Plan or any Award Agreement to the contrary, all Awards (and/or any amount received with respect to such Awards) shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with
applicable law, stock exchange listing requirements, or any recoupment policy of the Company. In addition, the Committee may, in its sole discretion, specify in an Award Agreement that the Grantee’s rights, payments and benefits with respect to
an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, 

  
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in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of employment or services for cause,
termination of the Grantee’s provision of services to the Company or any of its subsidiaries, breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Grantee, or restatement of the Company’s financial
statements to reflect adverse results from those previously released financial statements, as a consequence of errors, omissions, fraud, or misconduct. 
  

	 	5.	Options. 

 (a) Grant. The Committee may grant Options in such amounts and subject
to such terms and conditions as the Committee may determine. The Award Agreement evidencing such Option shall include the option exercise period and the Exercise Price (which shall not be less than 100% of the Fair Market Value of a Share on the
date the Option is granted, other than in the case of Options granted in substitution of previously granted awards as described herein) and such other terms, conditions or restrictions on the grant or exercise of the Option as the Committee deems
appropriate. At the time of grant, the Committee shall designate in writing in the applicable Award Agreement whether the Option is intended to be an Incentive Stock Option, and any Option not so designated shall be a Nonqualified Stock Option. To
the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of the Shares with respect to which Incentive Stock Options granted under the Plan and any other plans of the Company are first exercisable by a
Grantee during any calendar year shall exceed the maximum limit, if any, imposed from time to time under Section 422 of the Code, such Options or a portion thereof shall be treated as Nonqualified Stock Options. No Incentive Stock Option may be
granted to a person who is not eligible to receive an Incentive Stock Option under the Code. 
 (b) Term. In addition to other
restrictions contained in the Plan, an Option described in this Section 5 may not be exercised more than ten (10) years after the date it is granted. If the term of an Option (other than an Incentive Stock Option) would expire during a
period when trading in the Shares is prohibited or restricted by law or under the Company’s insider trading policy, and unless otherwise provided in an applicable Award Agreement, the term of the Option will be extended automatically to the
30th day after expiration of the prohibition or restriction to the extent such automatic extension would not cause the Option to become subject to Section 409A. 

(c) Exercise. Except as otherwise provided in the Plan or in an Award Agreement, an Option may be exercised for all, or from time to
time any part, of the Shares for which it is then exercisable. For purposes of Section 5 of the Plan, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable, the date
payment is received by the Company pursuant to the following sentence. Unless the Committee otherwise provides in the applicable Award Agreement, the Exercise Price for the Shares as to which an Option is exercised shall be paid to the Company in
full at the time of exercise at the election of the Grantee by one or a combination of the following: (i) in cash or its equivalent (e.g., by check), (ii) by transferring Shares to the Company having a Fair Market Value equal

  
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to the aggregate Exercise Price for the Shares being purchased and satisfying such other requirements as may be imposed by the Committee (such as, for example, a requirement that such Shares have
been held for six months if necessary to avoid adverse accounting consequences), (iii) subject to such procedures as may be established by the Committee (A) if there is a public market for the Shares at such time, through the delivery of
irrevocable instructions to a broker to sell part or all of the Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate Exercise Price for the Shares
being purchased and all applicable withholding taxes (subject to Section 15 hereof), or (B) on a “net exercise” basis, by directing the Company to withhold from delivery to the Grantee that number of whole Shares of the Company
otherwise deliverable upon such exercise in an amount equal to the aggregate Exercise Price for the Shares being purchased and all applicable withholding taxes (subject to Section 15 hereof); or (iv) such other methods as the Committee may
determine in its sole discretion. No Grantee shall have any rights to dividends or other rights of a shareholder with respect to Shares subject to an Option until the Grantee has given written notice of exercise of the Option, the Grantee has paid
in full for such Shares and, if applicable, the Grantee has satisfied any other conditions imposed by the Committee pursuant to the Plan. 

(d) Incentive Stock Options. Notwithstanding Sections 5(b) and 5(c), to the extent required under Section 422 of the Code, an
Incentive Stock Option granted to an individual who, at the time the Option is granted, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of his employer corporation, parent or Subsidiary,
(i) shall have an Exercise Price not less than 110% of the Fair Market Value of a Share on the day on which the Option is granted and (ii) by its terms, shall not be exercisable after the expiration of five (5) years from the date of
grant. 
 (e) Attestation. Wherever in this Plan or any Award Agreement a Grantee is permitted to pay the Exercise Price of an Option
or taxes relating to the exercise of an Option by delivering Shares, the Grantee may, subject to procedures satisfactory to the Committee, satisfy such delivery requirement by presenting proof of beneficial ownership of such Shares, in which case
the Company shall treat the Option as exercised without further payment and shall withhold such number of Shares from the Shares acquired upon the exercise of the Option. 

(f) Repricing of Options. Notwithstanding any provision herein to the contrary, the repricing of an Option, once granted hereunder, is
prohibited without prior approval of the Company’s stockholders. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the following): (i) changing the terms of an Option to
lower the Exercise Price; (ii) any other action that is treated as a “repricing” under generally accepted accounting principles; and (iii) repurchasing for cash or canceling an Option in exchange for another Award at a time when
the Exercise Price is greater than the Fair Market Value of the underlying Shares, unless the cancellation and exchange occurs in connection with an adjustment permitted under Section 11(a) below. Such cancellation and exchange would be

  
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considered a “repricing” regardless of whether it is treated as a “repricing” under generally accepted accounting principles and regardless of whether it is voluntary on the
part of the Grantee. 
  

	 	6.	Stock Appreciation Rights (SARs). 

 (a) Grant. The Committee may grant SARs in
such amounts and subject to such terms and conditions as the Committee may determine. 
 (b) Term. Outstanding exercisable SARs may
be exercised in accordance with procedures established by the Committee (but, subject to the applicable Award Agreement, may not be exercised earlier than the initial exercise date of such SAR). The Committee may from time to time prescribe periods
during which outstanding exercisable SARs shall not be exercisable; provided, that in no event shall a Stock Appreciation Right be exercisable more than ten (10) years after the date it is granted, and, provided further
that, unless otherwise provided in an applicable Award Agreement, if the term of an SAR would expire during a period when trading in the Shares is prohibited or restricted by law or under the Company’s insider trading policy, the term of the
SAR will be extended automatically to the 30th day after expiration of the prohibition or restriction to the extent such automatic extension would not cause the SAR to become subject to Section 409A. 

(c) Exercise. The Exercise Price per Share of an SAR shall be an amount determined by the Committee but in no event shall such amount
be less than 100% of the Fair Market Value of a Share on the date the SAR is granted (other than in the case of an SAR granted in substitution of previously granted awards). Unless otherwise determined by the Committee, or as otherwise provided in
the applicable Award Agreement, and except as provided in Section 11(a), upon exercise of an outstanding exercisable SAR, each SAR shall entitle a Grantee upon exercise to an amount equal to (i) the excess of (a) the Fair Market Value of a
Share (on the exercise date) over (b) the Exercise Price of such SAR multiplied by (ii) the number of SARs exercised, and payment to the Grantee shall be made in Shares (valued at such Fair Market Value) or in cash (or a combination of the
two), as determined by the Committee. The Grantee shall be the beneficial owner and record holder of such Shares properly credited on such date of delivery. SARs may be exercised from time to time upon actual receipt by the Company of written notice
of exercise stating the number of Shares with respect to which the SAR is being exercised. No fractional Shares will be issued in payment for SARs, but instead cash will be paid in lieu thereof. 

(d) Repricing of SARs. Notwithstanding any provision herein to the contrary, the repricing of a SAR, once granted hereunder, is
prohibited without prior approval of the Company’s stockholders. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the following): (i) changing the terms of a SAR to
lower its Exercise Price; (ii) any other action that is treated as a “repricing” under generally accepted accounting principles; and (iii) repurchasing for cash or canceling a SAR in exchange for another Award at a time when its
exercise price is greater than the Fair Market Value of the underlying Shares, 

  
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unless the cancellation and exchange occurs in connection with an adjustment permitted under Section 11(a) below. Such cancellation and exchange would be considered a “repricing”
regardless of whether it is treated as a “repricing” under generally accepted accounting principles and regardless of whether it is voluntary on the part of the Grantee. 

 

	 	7.	Performance-Based Awards. 

 (a) Grant. The Company may grant to any Grantee Awards
based on one or more Performance Goals (such Awards, “Performance-Based Awards”). Without limiting the application of Treasury regulation section 1.162-27(e)(2)(vi) as it may apply to any
Options or SARs, the Committee, in its sole discretion, may grant Performance-Based Awards which are denominated in Shares, cash, by reference to Shares, or a combination thereof, which Awards may, but for the avoidance of doubt are not required to,
be granted in a manner which is intended to be deductible by the Company under Section 162(m) of the Code (or any successor section thereto). Such Performance-Based Awards shall be in such form, and dependent on such conditions, as the Committee
shall determine. Performance-Based Awards may be granted alone or in addition to any other Awards granted under the Plan. Subject to the provisions of the Plan, the Committee shall determine to whom and when Performance-Based Awards will be made,
the number of Shares or aggregate amount of cash to be awarded under (or otherwise related to) such Performance-Based Awards, whether such Performance-Based Awards shall be settled in cash, Shares or a combination of cash and Shares, and all other
terms and conditions of such Awards (including, without limitation, the vesting provisions thereof, dividend and dividend equivalent rights, and provisions ensuring that all Shares so awarded and issued, to the extent applicable, shall be fully paid
and non-assessable). Notwithstanding the foregoing, except for grants to newly-hired Grantees, Performance-Based Awards shall have a performance period of at least twelve months. 

(b) Establishment and Satisfaction of Performance Goals. During any period when Section 162(m) of the Code is applicable to the Company
and the Plan (after giving effect to Treasury regulation section 1.162(m)-27(f)), such Awards granted to employees under this Plan that are intended to qualify as qualified performance-based compensation under
Section 162(m) of the Code, including Performance-Based Awards, shall be paid, vested or otherwise deliverable solely on account of the attainment of one or more pre-established, objective Performance Goals
established by the Committee prior to the earlier to occur of (i) 90 days after the commencement of the period of service to which the Performance Goal relates; and (ii) the lapse of 25% of the period of service (as scheduled in good faith at
the time the goal is established), and in any event while the outcome is substantially uncertain. For Awards intended to qualify as qualified performance-based compensation under Section 162(m) of the Code, once established, the Performance Goals
will not be changed or modified during the performance period except to the extent permitted under Section 162(m) of the Code. The Committee must certify in writing that applicable Performance Goals and any of the material terms thereof were, in
fact, satisfied. For this purpose, approved minutes of the Committee meeting in which the certification is made shall be treated as such written 

  
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certification in a manner consistent with Section 162(m) of the Code and the regulations promulgated thereunder. The amount of the Performance-Based Award actually paid to a given Grantee may be
less than the amount determined by the applicable performance goal formula, at the discretion of the Committee. Subject to the foregoing provisions, the terms, conditions and limitations
applicable to any Awards intended to qualify as qualified performance-based compensation made pursuant to this Plan shall be determined by the Committee. Notwithstanding anything to the contrary contained herein, in no event may dividends and
dividend equivalents that may be applicable to Performance-Based Awards be paid until and to the extent such Award is earned and vested, upon satisfaction of applicable Performance Goals. 

 

	 	8.	Other Awards. 

 (a) The Committee may grant other types of equity-based or equity-related
Awards (including Awards of Shares, Awards of restricted Shares and Awards that are valued in whole or in part by reference to, or are otherwise based on the Fair Market Value of, Shares) as well as cash-based Awards in such amounts and subject to
such terms and conditions as the Committee shall determine, including without limitation, the right to receive, or vest with respect to, one or more Shares (or the equivalent cash value of such Shares), alone or in addition to any other Awards
granted under the Plan, upon the completion of a specified period of service, the occurrence of an event and/or the attainment of performance objectives, or, in the case of an Other Award intended to comply with Section 162(m) of the Code,
Performance Goals. Such Awards may entail the transfer of actual Shares to Grantees, or payment in cash, or payment in cash in an amount based on the value of Shares, and may include, without limitation, Awards designed to comply with or take
advantage of the applicable local laws of jurisdictions other than the United States. Subject to the provisions of the Plan, the Committee shall determine to whom and when cash or Other Awards will be made, the number of Shares to be awarded under
(or otherwise related to) such Other Awards, whether such Other Awards shall be settled in cash, Shares or a combination of cash and Shares, and all other terms and conditions of such Awards (including, without limitation, the vesting provisions
thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). Notwithstanding anything to the contrary contained herein, in no event may dividends and dividend
equivalents that may be applicable to Other Awards be paid until and to the extent such Award is vested. With respect to restricted shares, as of the first day of each quarter, during the applicable restricted period for all restricted shares
awarded hereunder, the Company shall credit to each Participant an amount equal to the value of all dividends and other distributions (whether in cash or other property) paid by the Company during the prior quarter on the equivalent number of shares
of Common Stock. Any dividend equivalents or other distributions credited shall be distributed in cash (with or without interest or other earnings, as provided at the discretion of the Committee) to the Participant only if, when and to the extent
such restricted shares vest. The value of dividends and other distributions payable with respect to Stock Units that do not vest shall be forfeited. 

  
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	 	9.	Shares Subject to the Plan; Limitations and Conditions. 

 (a) Shares Available Under
the Plan. Subject to adjustment as provided in Section 11(a), the total number of Shares which may be delivered pursuant to Awards granted under the Plan on or after the Effective Date will be (i) the sum of 6,000,000 Shares less the number
of Shares that are represented by awards which were granted under the Prior Incentive Plan after December 31, 2016 plus (ii) that number of Shares that are represented by awards which previously have been granted and are outstanding under
the Prior Incentive Plan after December 31, 2016 and which subsequently are forfeited, expire, terminate or canceled without the delivery of Shares. Any Shares that are subject to Awards of Options or Stock Appreciation Rights shall be counted
against this limit as one (1) Share for every one (1) Share granted. Any Shares that are subject to Awards other than Options or Stock Appreciation Rights shall be counted against this limit as two and seventy-five hundredths
(2.75) Shares for every one (1) Share granted. Shares that may be delivered pursuant to Awards may be authorized but unissued Shares or authorized and issued Shares held in the Company’s treasury or otherwise acquired for purposes of
the Plan. If, after the Effective Date, any Award is forfeited, expires unexercised or otherwise terminates or is canceled without the delivery of Shares, or Shares owned by a Grantee are tendered to pay the exercise price of any Award granted under
the Plan, including, Shares tendered or withheld to satisfy withholding tax obligations, then the Shares covered by such forfeited, expired, terminated or canceled Award or which are equal to the number of Shares surrendered, withheld or tendered
shall again become available for issuance pursuant to Awards granted or to be granted under this Plan. If an Award is settled for cash (in whole in part) or otherwise does not result in the delivery or issuance of all or a portion of the Shares
subject to such Award, such Shares shall to the extent of such cash settlement, immediately become available for new Awards. Notwithstanding the foregoing, the following Shares, however, may not again be made available for issuance as Awards under
the Plan: Shares tendered or withheld to satisfy the withholding tax obligations for Awards other than Options, SARs, or Other Awards in the nature of purchase rights for Shares. Except as provided in this Section 9 or under the terms of any
applicable Award Agreement, there shall be no limit on the number or the value of Shares that may be subject to Awards to any individual under the Plan and there shall be no limit on the amount of cash, securities, other than Shares hereunder as
adjusted as provided Section 11(a) hereof, or other property that may be delivered pursuant to any Award. Upon the Effective Date of the Plan, no further Awards shall be granted under the Prior Incentive Plan. 

(b) Assumption or Substitution of Previous Awards. Awards may, in the discretion of the Committee, be made under the Plan in assumption
of, or in substitution for, outstanding awards of a company acquired by the Company or any of its subsidiaries or with which the Company or any of its subsidiaries combines. Any Shares (i) delivered by the Company, (ii) with respect to
which Awards are made hereunder and (iii) with respect to which the Company (or any Affiliate) becomes obligated to make Awards, in each case through the assumption of, or in substitution 

  
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for, outstanding Awards previously granted by an acquired entity or an entity with which the Company or any of its subsidiaries combines, shall not count against the Shares available to be
delivered pursuant to Awards under this Plan. In addition, in the event that a company acquired by the Company or any of its subsidiaries or with which the Company or any of its subsidiaries combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such
pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration
payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for issuance; provided that Awards using such available shares shall
not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination. 

(c) Shares Available for Incentive Stock Options. Notwithstanding the foregoing, but subject to adjustment as provided in Section
11(a), no more than 6,000,000 Shares that can be delivered under the Plan shall be deliverable pursuant to the exercise of Incentive Stock Options. 

(d) Shares Available Per Individual. Subject to adjustment as provided in Section 11(a), the maximum number of Shares with respect to
which Options or SARs may be granted to an individual Grantee in any fiscal year of the Company shall be 1,500,000. 
 (e)
Performance-Based Award Limitation. Subject to adjustment as provided in Section 11(a), (i) the maximum number of Shares that may be delivered in respect of Performance-Based Awards denominated in Shares to any individual Grantee for a single
fiscal year during an applicable performance period (or with respect to each single fiscal year in the event a performance period extends beyond a single fiscal year) shall be 750,000, or in the event such Performance-Based Award is paid in cash,
other securities, other Awards or other property, no more than the Fair Market Value of such Shares on the last day of the performance period to which such Award relates; and (ii) the maximum amount that can be paid to any individual Grantee
for a single fiscal year during an applicable performance period (or with respect to each single fiscal year in the event a performance period extends beyond a single fiscal year) pursuant to a Performance-Based or Other Award denominated in cash
shall be $10,000,000. 
 (f) Anti-alienation. No Awards shall, prior to vesting and delivery thereof to the Grantee, be in any manner
liable for or subject to the debts, contracts, liabilities, engagements, or torts of the Grantee. 
 (g) Nontransferability of
Awards. Unless otherwise determined by the Committee, an Award shall not be transferable or assignable by the Grantee other than by will or by the laws of descent and distribution. An Award exercisable after the death of a Grantee may be
exercised by his legatees, personal representative, or distributees. 

  
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Except as otherwise determined by the Committee, no exercise of any Award may be made during a Grantee’s lifetime by anyone other than the Grantee, except by a legal representative appointed
for or by the Grantee; provided, however, that, subject to such limits as the Committee may establish, the Committee, in its discretion, may allow the Grantee to transfer an Award for no consideration to, or for the benefit of, an “immediate
family member” (to be defined by the Committee) or to a bona fide trust for the exclusive benefit of such immediate family member, or a partnership or limited liability company in which immediate family members are the only partners or members.
Any sale, exchange, transfer, assignment, pledge, hypothecation, fractionalization, hedge or other disposition in violation of this Section 9(h) shall be void, and shall not be recognized by the Company. All of the terms and conditions of this Plan
and the applicable Award Agreements shall be binding upon any permitted successors and assigns. 
 (h) No Effect on other Benefits.
Absent express provisions to the contrary, any Award under this Plan shall not be deemed compensation for purposes of computing benefits or contributions under any retirement or severance plan of the Company or its Affiliates and shall not affect
any benefits under any other benefit plan of any kind now or subsequently in effect under which the availability or amount of benefits is related to the level of compensation. 

(i) Notice of Disposition of Shares. If any Grantee shall make any disposition of Shares delivered pursuant to the exercise of an
Incentive Stock Option under the circumstances described under Section 421(b) of the Code (relating to certain disqualifying dispositions), such Grantee shall timely notify the Company of such disposition. 

 

	 	10.	Transfers; Leaves of Absence; Separation from Service. 

 For purposes of the Plan and any
Award Agreement, unless the Committee determines otherwise: (i) a transfer of a Grantee’s employment without an intervening period of separation among the Company and any of its Affiliates shall not be deemed a termination of employment,
and (ii) a Grantee who is awarded in writing a leave of absence or who is entitled to a statutory leave of absence shall be deemed to have remained in the employ of the Company (and any of its Affiliates) during such leave of absence. In the
case of an Award subject to Section 409A, no termination of employment or the other provision of service shall be deemed a termination from employment unless it is a “separation from service” under Section 409A. 

 

	 	11.	Adjustments and Other Corporate Events. 

 (a) Generally. In the event of
any equity split, spin off, equity distribution or dividend (other than regular cash dividends or distributions), equity combination, reclassification, recapitalization, liquidation, dissolution, reorganization, merger, consolidation or similar
event that the Committee determines in its sole discretion affects the capitalization of the Company (and without liability to any Person), the Committee shall adjust appropriately (i) the number and kind of Shares (or other securities) subject
to the Plan, as set forth in Section 9 hereof, and available for or 

  
 -15- 

 
covered by Awards and (ii) Share prices related to outstanding Awards, and make such other revisions or substitutions to outstanding Awards, in each case, as it deems, in good faith, are
equitably required (including, without limitation, to the Exercise Price of Options and SARs) to prevent dilution or enlargement of rights granted hereunder; provided that any adjustment will be in accordance with Section 409A, to the extent
applicable, so as not to cause a modification or deemed new grant of award. 
 (b) Upon Change in Control. In the event of a Change
in Control after the Effective Date of the Plan, the Committee may (subject to Section 14), in its sole discretion, either (alone or in combination): (A) cancel Awards for fair consideration (as determined in the sole discretion of the
Committee) which, in the case of Options and SARs shall equal the excess, if any, of the value of the consideration to be paid in the Change in Control transaction to holders of the same number of Shares subject to such Options or SARs (or, if no
consideration is paid in any such transaction, the Fair Market Value of the Shares subject to such Options or SARs) over the aggregate Exercise Price of such Options or SARs; (B) provide for the assumption of such Awards or the issuance of
substitute Awards that will substantially preserve the otherwise applicable terms of any affected Awards previously granted hereunder, including any applicable vesting conditions or (C) provide that for a period of at least 15 days prior to the
Change in Control, such Awards shall be exercisable as to all Shares subject thereto, and that upon the occurrence of the Change in Control, such Awards shall terminate and be of no further force and effect. For the avoidance of doubt, pursuant to
clause (A) above, the Committee may cancel Options and SARs for no consideration if the aggregate Fair Market Value of the Shares subject to such Options or SARs is less than or equal to the aggregate Exercise Price of such Options or exercise
price of such SARs. 
  

	 	12.	Amendment and Termination of Plan and Awards. 

 (a) Amendment of Awards. The
Committee shall have the authority to make such amendments to any outstanding Awards as are consistent with this Plan provided that no such action shall modify any Award in a manner adverse in any material respect to the Grantee without the
Grantee’s consent except as such modification is provided for or contemplated in the terms of the Award or this Plan (including, for the avoidance of doubt, pursuant to Section 11 hereof). 

(b) Amendment, Suspension or Termination of Plan. The Board may amend, suspend or terminate the Plan except that no such action, other
than an action under Section 11 hereof, may be taken which would, without stockholder approval to the extent required by law, or to the extent necessary to comply with the performance-based compensation section under Section 162(m) of the Code
as described in Section 12(c) below, increase the aggregate number of Shares available for Awards under the Plan, decrease the price of outstanding Awards (subject to the limitations of Sections 5(f) and 6(d) hereunder), change the requirements
relating to the Committee as set forth in Section 3 hereof, or extend the term of the Plan. 
 (c) Stockholder Approval. Unless
otherwise determined by the Board, stockholder approval of any suspension, discontinuance, revision or amendment shall 

  
 -16- 

 
be obtained only to the extent necessary to comply with any applicable law, rule, or regulation or in order for the Plan to continue to comply with the rules of the New York Stock Exchange;
provided, however, if and to the extent the Board determines that it is appropriate for Awards to constitute performance-based compensation within the meaning of Section 162(m)(4)(C) of the Code, no amendment that would require
stockholder approval in order for amounts paid pursuant to the Plan to constitute performance based compensation within the meaning of Section 162(m)(4)(C) of the Code shall be effective without the approval of the stockholders of the Company as
required by Section 162(m) of the Code and the regulations thereunder, and, if and to the extent the Committee determines it is appropriate for the Plan to comply with the provisions of Section 422 of the Code, no amendment that would require
stockholder approval under Section 422 of the Code shall be effective without the approval of the stockholders of the Company. 
  

	 	13.	Governing Law; Foreign Awards. 

 (a) Law. This Plan shall be governed in all
respects by the laws of the State of Delaware without giving effect to the principal of conflict of laws. 
 (b) Foreign Awards. The
Committee may make Awards to employees, non-employee members of the Board, consultants, or other persons having a relationship with the Company or any of its Affiliates who are subject to the laws of
jurisdictions other than those of the United States, which Awards may have terms and conditions that differ from the terms thereof as provided elsewhere in the Plan for the purpose of complying with non-US
laws or otherwise as deemed to be necessary or desirable by the Committee. 
  

	 	14.	Conformity to Section 409A. 

 It is intended that all Awards under this Plan and any
Award Agreement either be exempt from or avoid taxation under Section 409A. All Options or other similar Awards that are granted with an Exercise Price shall be granted with an exercise price such that the Award would not constitute deferred
compensation under Section 409A or shall otherwise be structured to avoid taxation under Section 409A. Any ambiguity in this Plan and any Award Agreement shall be interpreted to comply with Section 409A. To the extent applicable, as determined in
the sole discretion of the Committee with and upon advice of counsel, (a) each amount or benefit payable pursuant to this Plan and any Award Agreement shall be deemed a separate payment for purposes of Section 409A and (b) in the event the
equity interests of the Company are publicly traded on an established securities market or otherwise and the Grantee is a “specified employee” (as determined under the Company’s administrative procedure for such determinations, in
accordance with Section 409A) at the time of the Grantee’s termination of employment, any payments under this Plan or any Award Agreement that are deemed to be deferred compensation subject to Section 409A shall not be paid or begin payment
until the earlier of the Grantee’s death and the first day following the six (6) month anniversary of the Grantee’s date of termination of employment. The Committee shall use commercially reasonable efforts to implement the provisions
of this Section 14 

  
 -17- 

 
in good faith; provided that neither the Company, the Board, the Committee nor any of the Company’s employees, Directors or representatives shall have any liability to Grantees with
respect to this Section 14. 
  

	 	15.	Withholding Taxes. 

 If the Company and/or any Affiliate shall be required to withhold
any amounts by reason of any Federal, State, local or foreign tax rules or regulations in respect of any Award (including, without limitation, FICA tax), the Company and/or any Affiliate shall be entitled to take such action as it deems appropriate
in order to ensure compliance with such withholding requirements. The Company or any of its Affiliates shall have the right, at its option, to (i) require the Grantee (or the Grantee’s permitted transferee under Section 9(h), as
applicable) to pay or provide for payment of the amount of any taxes which the Company or any of its Affiliates may be required to withhold with respect to such Award, (ii) deduct or withhold (or cause to be deducted or withheld) from any
amount otherwise payable (whether related to the Award or otherwise) to the Grantee (or the Grantee’s transferee, as applicable and where otherwise permitted under the Plan) the amount of any taxes which the Company or any of its Affiliates may
be required to withhold with respect to such Award, or (iii) if the Committee determines, to withhold Shares with a Fair Market Value of the minimum amount of any taxes which the Company or any of its Affiliates may be required to withhold with
respect to such Award, or (iv) enter into with the Grantee any such other suitable arrangements approved by the Committee. In no event will Shares be withheld with a Fair Market Value in excess of the legally required withholding amount based
on the maximum statutory individual withholding rates for federal and state tax purposes for the applicable jurisdiction (in whole or part) and provided such withholding does not change the accounting treatment of such Award. Notwithstanding
anything contained herein to the contrary, Fair Market Value for this purpose shall be determined as of the date on which the amount of tax to be withheld is determined (and the Company may cause any fractional Share to be settled in cash). 

 

	 	16.	Effective Date; Duration. 

 The Plan was approved by the Board on February 14, 2017,
subject to approval by the Company’s shareholders, and will become effective upon the date of such shareholder approval. No Awards shall be granted under the Plan beyond ten (10) years after the date the shareholders approved the Plan, but
Awards granted on or before the expiration of the Plan shall remain valid in accordance with their terms, and may extend beyond such expiration date. At the time an Award is made or amended or the terms or conditions of an Award are changed in
accordance with the terms of the Plan or the Award Agreement, the Committee may provide for limitations or conditions on such Award. 
  

	 	17.	Miscellaneous. 

 (a) ERISA. This Plan is not subject to the Employee Retirement
Income Security Act of 1974, as amended. 

  
 -18- 

 (b) No Right of Employment or Service. Nothing contained herein, in an Award Agreement or
in an Award shall confer on any employee, Director or consultant any right to be continued in the employ or service of the Company and/or any Affiliates, constitute any contract or agreement of employment or other service or affect an
employee’s status as an at-will employee, nor shall anything contained herein, in any Award Agreement or an Award affect any rights which the Company and/or its Affiliates may have to change a
person’s compensation or other benefits or terminate such person’s employment or association with the Company and/or its Affiliates for any reason (with or without cause, with or without compensation) at any time. 

(c) Certificates. All certificates, if any, evidencing Shares or other securities of the Company delivered under the Plan pursuant to
any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission or
other applicable governmental authority, any stock exchange or market upon which such securities are then listed, admitted or quoted, as applicable, and any applicable Federal, state or any other applicable laws, and the Committee may cause a legend
or legends to be put on any such certificates to make appropriate reference to such restrictions. 
 (d) Funding. Unless the
Committee determines otherwise, no benefit or promise under the Plan shall be secured by any specific assets of the Company or any of its Affiliates, nor shall any assets of the Company or any of its Affiliates be designated as attributable or
allocated to the satisfaction of the Company’s obligations under the Plan. 
 (e)
Non-Uniform Determinations. The Committee’s determinations under the Plan need not be uniform and may be made by it selectively among persons who receive or are eligible to receive Awards (whether
or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee shall be entitled, among other things, to make non-uniform and selective determinations, to enter
into non-uniform and selective Award Agreements, as to the persons to receive Awards under the Plan and the terms and provisions of Awards under the Plan. 

(f) Section Headings; Construction. The section headings contained herein are for the purpose of convenience only and are not intended
to define or limit the contents of the sections. All words used in this Plan shall be construed to be of such gender or number, as the circumstances require. Unless otherwise expressly provided, the word “including” does not limit the
preceding words or terms. 
 (g) Severability; Entire Agreement. In the event any provision of the Plan or any Award Agreement shall
be held by a court of competent jurisdiction to be illegal, invalid or unenforceable for any reason, the illegality, invalidity or unenforceability shall not affect the remaining provisions of the Plan and such Award Agreement and such illegal,
invalid or unenforceable provision shall be deemed modified as if such provision had not been included. 

  
 -19- 

 (h) Survival of Terms; Conflicts. The provisions of the Plan shall survive the termination
of the Plan to the extent consistent with, or necessary to carry out, the purposes thereof. Each Award Agreement remains subject to the terms of the Plan, however, in the event of any conflict between specific provisions of the Plan and an Award
Agreement, the Plan shall control, except where the terms of the Award Agreement are more restrictive than the terms of the Plan. 
 (i)
Arbitration. Any dispute with regard to the enforcement of this Plan and any Award Agreement hereunder shall be exclusively resolved by a single experienced arbitrator selected in accordance with the American Arbitration Association
(“AAA”) rules and procedures, at an arbitration to be conducted in the State of New York pursuant to the National Rules for the Resolution of Employment Disputes rules of the AAA with the arbitrator applying the substantive law of
the State of Delaware as provided for under Section 13(a) hereof. The AAA shall provide the parties hereto with lists for the selection of arbitrators composed entirely of arbitrators who are members of the National Academy of Arbitrators and who
have prior experience in the arbitration of disputes between employers and senior executives. The determination of the arbitrator shall be final and binding on the parties hereto and judgment therein may be entered in any court of competent
jurisdiction. Each party shall pay its own attorneys’ fees and disbursements and other costs of the arbitration. 

  
 -20-

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