Document:

EX-10.8

 EXHIBIT 10.8 

EMPLOYMENT AGREEMENT 

This Employment Agreement (the “Agreement”) is made and entered into by and between Resource NewCo LLC, a Delaware limited
liability company having its principal place of business at 1845 Walnut Street, Philadelphia, PA 19103 (“Advisor Holdings” or the “Company”) and Michele R. Weisbaum (“Executive”). This Agreement is
ancillary to the Contribution and Exchange Agreement, by and among Resource Real Estate Opportunity OP, LP, a Delaware limited partnership (“Buyer”), the Contributed Holding Companies, C-III
Capital Partners LLC, a Delaware limited liability company (“PM Contributor”), Resource Real Estate, LLC, a Delaware limited liability company (“Advisor Contributor”, and each of Advisor Contributor and PM
Contributor also being referred to herein as a “Contributor” and collectively, the “Contributors”) and Resource America, Inc., a Delaware corporation (“Resource America”, and each of Resource
America and the Contributors also being referred to herein as a “Contributor Party” and collectively, the “Contributor Parties”) (the “Contribution Agreement”), and is effective as of, and
contingent upon, (1) the closing of the transactions contemplated by the Contribution Agreement and (2) Executive’s execution of the Acknowledgment and Agreement of Termination (upon the occurrence of (1) and (2) collectively,
the “Effective Time”). Capitalized terms not defined herein have the meaning set forth in the Contribution Agreement. 

BACKGROUND 

WHEREAS, as of immediately prior to the Effective Time, Executive was employed by a Contributor Party or an Affiliate of a Contributor
Party. For purposes of this Agreement, “Prior Agreement” means and refers to any and all agreements relating to Executive’s employment, separation and/or termination of Executive’s employment with any Contributor Party or
any Affiliate of a Contributor Party including, without limitation, employment agreements, letter agreements, and bonus, commission, and compensation agreements and/or arrangements, each as amended from time to time, collectively, the “Prior
Agreements”; 
 WHEREAS, in order to induce the parties to the Contribution Agreement to consummate the transactions
contemplated thereunder, Executive is willing to enter into this Agreement with the Company and waive any and all rights pursuant to the Prior Agreements; 

WHEREAS, the parties would not have entered into the Contribution Agreement without Executive’s agreement to enter into this
Agreement with the Company; and 
 WHEREAS, Executive acknowledges and agrees that Executive will receive substantial consideration
or other benefits as a result of entering into this Agreement. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the transactions contemplated in the Contribution Agreement, and the premises, agreements, and the
mutual promises and covenants set forth herein, and intending to be legally bound hereby, the Company and Executive, hereby acknowledge and agree as follows: 

1. Employment. During the term of this Agreement, Executive shall be employed as Senior Vice President and Chief Legal
Officer of the Company. 

  
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 2. Duties; Exclusivity.  

(a) Executive shall report to, and accept direction from, the Chief Executive Officer of the Company and from the Board of Directors of the
Company (the “Board”). Executive shall serve the Company diligently, competently and to the best of Executive’s abilities. Executive will have such duties, functions, responsibilities and authority as are customarily associated
with the position in which Executive serves, and shall also render such services as may reasonably be required of Executive to accomplish the business purposes of the Company, and such duties as may be assigned to Executive from time to time and
which are appropriate for Executive’s position at the Company. 
 (b) Executive shall devote substantially all of Executive’s
business time and attention to the business of the Company and its affiliates, and shall not undertake any other duties which conflict with these responsibilities. Executive represents and warrants that Executive is under no fiduciary, contractual
or other legal obligation to another company, venture, business or employer that would prevent Executive from being employed by the Company as set forth herein. This provision shall not be construed to prevent Executive from engaging in community,
charitable, or educational activities, or managing Executive’s personal investments, provided that such activities do not materially conflict or interfere with Executive’s performance of Executive’s duties and responsibilities under
this Agreement. 
 3. Term. The term of Executive’s employment under this Agreement shall be the
period commencing at the Effective Time and ending on December 31, 2023, unless terminated earlier pursuant to Section 6 (such period, the “Initial Term”); provided that, on December 31, 2023 and each one (1)-year
anniversary thereafter (such date and each one (1)-year anniversary thereof, a “Renewal Date”), the Agreement shall be automatically extended, upon the same terms and conditions, for successive periods of one (1) year, unless
either party provides written notice of such party’s intention not to extend the term of the Agreement at least sixty (60) days prior to the applicable Renewal Date. The Initial Term and any renewal of such term are referred to herein as
the “Term,” as applicable. Executive’s employment with the Company shall be on an “at-will” basis, nothing in this Agreement shall alter Executive’s at-will status with the Company, and either party may terminate this Agreement subject to the terms and conditions set forth herein. 

4. Compensation. 

(a) Base Compensation. During the Term, the Company shall pay to Executive an annual base compensation (“Base
Compensation”) in the gross amount of Three Hundred Thousand Dollars ($300,000), minus applicable withholdings. The Base Compensation will be payable in accordance with the general payroll practices by which the Company pays its executive
officers, and the historical practice of the Company’s compensation of Executive. It is understood that the Company, through the compensation committee of the Board (the “Committee”), will review Executive’s performance on
an annual basis and may increase (but not decrease) such Base Compensation, based upon Executive’s performance. 
 (b) Annual Cash
Incentive Compensation. During the Term, Executive may receive incentive compensation in the form of annual cash bonus payments based upon specified corporate and individual performance as determined by the Board or the Committee. The amount of
the annual cash bonus payable to Executive will be determined at the discretion of the Board or the Committee; provided, such annual cash bonus for 2020 shall not be less than $115,000. In establishing the performance criteria for each fiscal year,
the Board or Committee shall set forth a maximum, target, and threshold annual bonus amount, in each case, expressed as a percentage of Executive’s Base Compensation at the rate in effect at the beginning of the relevant fiscal year. For each
fiscal year beginning after 2020 during the Term, if applicable performance goals are not attained at least at the threshold performance level, no annual bonus 

  
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shall be payable. Payouts for in-between performance criteria will be calculated using straight-line interpolation. Except as otherwise set forth
herein, the payment of annual incentive compensation amounts under this Section 4(b) is subject to Executive’s continued employment with the Company through the applicable payment date in the following fiscal year which shall not be later
than March 15 of the following fiscal year. 
 (c) Initial Equity Grant. Executive will receive an initial equity grant with a
fair market value of $500,000 to be awarded in the form of restricted shares of Resource Real Estate Opportunity REIT, Inc. (“REIT I”). Subject to Executive’s continued employment with the Company from the Effective Time
through the consummation of the following events and the Board’s determination of a successful integration and completion of such events, the restricted shares will vest as follows: (1) forty percent (40%) upon the consummation of the
contemplated merger of REIT I with and into a subsidiary of Resource Real Estate Opportunity REIT II, Inc. (“REIT II”, and such merger, the “REIT I/REIT II Merger”) and (2) sixty percent (60%) upon a Liquidity
Event of REIT II subsequent to the consummation of the REIT I/REIT II Merger. For purposes of this Section 4(c), a “Liquidity Event” of REIT II shall mean any of the following: (i) a listing of the common stock of REIT II
on a national securities exchange, (ii) a sale, merger or other transaction in which the stockholders of REIT II either receive, or have the option to receive, cash, securities redeemable for cash, and/or securities of a publicly traded
company, or (iii) the sale of all or substantially all of REIT II’s assets where stockholders of REIT II either receive, or have the option to receive, cash or the securities of a publicly traded company. 

(d) Annual Equity Incentive Compensation. In addition to the equity grant provided in Section 4(c), with respect to each calendar
year during the Term beginning after calendar year 2020, Executive shall be eligible to receive an annual long-term equity incentive award. For the equity incentive award granted in the 2021 calendar year, such award shall be granted prior to
March 15, 2021 and shall be based on the target award recommended by FPL Advisory in its proposed executive compensation program summary dated August 10, 2020. For the equity incentive award granted in 2021, seventy percent (70%) of each
such award shall vest in substantially equal installments over a period of three (3) years based solely on the passage of time and the remaining thirty percent (30%) shall vest based on performance criteria established in the sole discretion of
the Board or the Committee. Except as otherwise provided herein, eligibility for, and the terms and vesting conditions applicable to, each such annual grant, if any, shall be determined by the Board or the Committee in its sole discretion. 

5. Benefits. 

Executive shall be entitled to receive the following benefits from the Company independent of any other benefits which Executive may receive
from the Company or otherwise: 
 (a) Participation in Plans. Executive shall be entitled to participate in all applicable incentive,
savings, and retirement plans, practices, policies, and programs of the Company and in any group life, hospitalization or disability insurance plans, and health programs, in each case to the extent Executive is eligible under the terms of such plans
or programs. The Company shall maintain group life insurance coverage for Executive in an amount at least equal to two (2) times Executive’s Base Compensation as in effect from time to time. 

(b) Disability. Executive shall be eligible for any short and long term disability and any life insurance plans or programs that are
available to other similarly situated executives of the Company in each case to the extent Executive is eligible under the terms of such plans or programs. 

  
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 (c) Reimbursement of Expenses. The Company shall reimburse Executive for all
reasonable expenses incurred by Executive in the performance of Executive’s duties, including without limitation expenses incurred during business-related travel. Executive shall present to the Company, from time to time, an itemized account of
such expenses in such form as may be required by the Company. 
 (d) Personal Time Off. Executive shall be entitled to a number of
days of personal time off work during each calendar year which shall be no less than the amount set forth in the Company’s company policies. This includes days used for vacation, illness or other personal matters but is exclusive of such office
holidays as may be designated by the Company. 
 (e) Withholdings and Taxes. All compensation payable to Executive is subject to
withholding for all applicable federal, state and local income taxes, and all applicable employment, occupational, Social Security and other similar taxes, and any other amounts as required by law. 

(f) Clawback. Notwithstanding any other provision in this Agreement to the contrary, any incentive-based compensation, or any other
compensation, paid to Executive pursuant to this Agreement or any other agreement or arrangement with the Company 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, whether or not pursuant to any such law, government regulation or stock
exchange listing requirement). 
 (g) Location. Executive’s principal place of employment shall be the offices of the Company
located in Philadelphia, Pennsylvania.  
 6. Termination and Definitions. 

Anything herein contained to the contrary notwithstanding, Executive’s employment and the Term hereunder shall terminate as follows: 

(a) Death. Executive’s employment and the Term shall terminate automatically upon the death of Executive. 

(b) Termination by the Company, for Cause. The Company may terminate this Agreement and the Term for Cause. “Cause”
shall encompass the following: (1) Executive has committed any act of fraud; (2) illegal conduct or gross misconduct by Executive, in either case that is willful and results in material and demonstrable damage to the business or reputation
of the Company or any of its affiliates; (3) Executive is convicted of, or pleads nolo contendere to, a felony; (4) the continued failure of Executive substantially to perform Executive’s duties under this Agreement (other than as a
result of physical or mental illness or injury), after the Company delivers to Executive a written demand for substantial performance that specifically identifies the manner in which the Company believes that Executive has not substantially
performed Executive’s duties; or (5) Executive has failed to follow reasonable written directions of the Company which are consistent with Executive’s duties hereunder and not in violation of applicable law, provided that no
termination shall occur pursuant to subsections (4) or (5) above unless the Company first gives Executive written notice of its intention to terminate and of the Cause for termination and Executive has not, within ten (10) business days
after written notice, cured such Cause. 
 (c) Termination by the Company without Cause. The Company may terminate this Agreement and
the Term without Cause upon sixty (60) days’ prior written notice to Executive. 

  
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 (d) Disability. The Company may terminate this Agreement and the Term if Executive
becomes disabled by reason of physical or mental disability for more than one hundred eighty (180) days in the aggregate or a period of ninety (90) consecutive days during any 365-day period and the
Board determines, in good faith and in writing, that Executive, by reason of such physical or mental disability, is rendered unable to perform Executive’s duties and services hereunder, with or without a reasonable accommodation (a
“Disability”). A termination of Executive’s employment by the Company for Disability shall be communicated to Executive by written notice, and shall be effective on the thirtieth (30th) day after receipt of such notice by
Executive (the “Disability Effective Date”), unless Executive returns to full-time and satisfactory performance of Executive’s duties, as determined in the Company’s sole and absolute discretion, before the Disability
Effective Date. Executive agrees to comply with any reasonable request(s) from the Company necessary to determine whether Executive can satisfactorily perform Executive’s duties and services, on a full-time basis. 

(e) Termination by Executive for Good Reason. Executive may terminate Executive’s employment and the Term for Good Reason (as
defined below) upon thirty (30) days’ prior written notice to the Company, which notice shall set forth the grounds for such termination and the specific provision(s) of this Agreement on which Executive relies. The notice must be provided
within two (2) months after the event giving rise to the termination for Good Reason occurs. The Company shall have a period of thirty (30) days during which it may cure any condition reasonably susceptible of cure. If the Company does not
correct the grounds for termination during the thirty (30) day period following the notice of termination, Executive’s termination of employment for Good Reason must become effective within thirty (30) days after the end of the cure
period, in order for such termination to be treated as a termination for Good Reason under this Agreement. For purposes of this paragraph (e) “Good Reason” shall mean: (1) any action by the Company that results in a material
diminution in Executive’s position, authority, duties, or responsibilities, other than an isolated, insubstantial, and inadvertent action that is not taken in bad faith and is remedied by the Company promptly after receipt of notice thereof
from Executive; (2) any purported termination of Executive’s employment by the Company for a reason or in a manner not expressly permitted by this Agreement; (3) any failure by the Company to comply with Section 12(c) of this
Agreement; (4) Executive’s required permanent relocation to a worksite location that is more than 35 miles from the location set forth in Section 5(g); or (5) any other breach of this Agreement by the Company that is not remedied
by the Company promptly after receipt of notice thereof from Executive. For the avoidance of doubt, Executive acknowledges and agrees the consummation of the transactions contemplated by the Contribution Agreement and the execution and entering into
of this Agreement shall not result in, cause, or otherwise constitute an event of Good Reason hereunder, and that Executive hereby waives any right that Executive could have claimed to resign for Good Reason as a result of such events. 

(f) Termination by the Company Due to Expiration of the Term. In the event that the Company gives written notice of its intention not
to renew this Agreement in accordance with Section 3, then the Term and Executive’s employment with the Company will terminate automatically upon the expiration of the Term and such termination shall be considered an involuntary
termination by the Company under Section 6(c) above for purposes of this Agreement (except for purposes of Sections 8, 9 and 10 of this Agreement). 

(g) Termination by Executive Without Good Reason. Executive may terminate this Agreement and the Term for any reason other than those
set forth in Section 6(e) (other than by such Executive’s death or Disability) upon sixty (60) days’ prior written notice to the Company. 

(h) For purposes of Sections 6 and 7, the following additional definitions shall apply: 

(1) “Change in Control” means the occurrence of any of the following: 

  
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 (i) The acquisition (other than from the Company), by any person (as such term is defined
in Section 13(c) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange
Act) of fifty percent (50%) or more of the combined voting power of the Company’s then outstanding voting securities; 
 (ii) The
individuals who, as of the Effective Time, are members of the Board (the “Incumbent Board”), cease for any reason during any twelve (12) month period to constitute at least a majority of the Board, unless the election, or
nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least a majority of the Incumbent Board, and such new director shall be considered as a member of the Incumbent Board; 

(iii) The closing of a reorganization, merger, consolidation or similar form of corporate transaction (each, a “Business
Combination”) involving the Company if (A) the stockholders of the Company, immediately before such Business Combination, do not, as a result of such Business Combination, own, directly or indirectly, more than fifty percent (50%) of
the combined voting power of the then outstanding voting securities of the entity resulting from such Business Combination in substantially the same proportion as their ownership of the combined voting power of the voting securities of the Company
outstanding immediately before such Business Combination or (B) immediately following the Business Combination, the individuals who comprised the Board immediately prior thereto do not constitute at least a majority of the board of directors of
the entity resulting from such Business Combination (or, if the entity resulting from such Business Combination is then a subsidiary, the ultimate parent thereof); 

(iv) The sale or other disposition of all or substantially all of the assets of the Company; or 

(v) The consummation of a complete liquidation or dissolution of the Company. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because fifty percent (50%) or more of the combined voting power of the
Company’s then outstanding securities is acquired by (i) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its subsidiaries or (ii) any corporation which,
immediately prior to such acquisition, is owned directly or indirectly by the stockholders of the Company in the same proportion as their ownership of shares in the Company immediately prior to such acquisition. Notwithstanding the foregoing, a
Change in Control shall not occur unless such transaction constitutes a “change in control event” within the meaning of section 409A of the Code; provided, however, that in no event shall the consummation of the REIT I/REIT
II Merger (or any transaction or series of transactions of a similar intent consummated within the one (1) year period following the Effective Time) result in a Change in Control for purposes of this Agreement. 

(2) “Date of Termination” means the date of Executive’s death, the Disability Effective Date, the date on which the
termination of Executive’s employment by the Company for Cause or without Cause or by Executive for Good Reason is effective, or the applicable date on which Executive’s notice of termination of employment without Good Reason is effective,
as the case may be. The Date of Termination shall be the last day of the Term. 
 7. Effect of Termination.
Executive’s employment is at-will but the benefits, if any, Executive receives upon termination are dependent on the reason for termination and are described below in this Section 7. 

  
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 (a) Death. If Executive’s employment is terminated by reason of Executive’s
death during the Term, a death benefit shall be paid to Executive’s designated beneficiaries (or, if there is no such beneficiary, to Executive’s estate or legal representative), in an amount equal to the sum of the following amounts:
(1) any portion of Executive’s Base Compensation through the Date of Termination that has been earned but not yet been paid, (2) all benefits and reimbursements due through the Date of Termination, (3) any accrued but unpaid
vacation pay through the Date of Termination (items (1),(2), and (3), collectively, the “Accrued Amounts”), (4) any unpaid annual cash bonus under Section 4(b) for the preceding fiscal year, and (5) a pro-rated annual cash bonus under Section 4(b) for the period of Executive’s employment during the fiscal year that includes the Date of Termination and through the Date of Termination, assuming target
performance (items (1), (2), (3), (4) and (5), collectively, the “Termination Benefits”). In the event of termination under this Section 7(a), all other benefits, payments or compensation to be provided to Executive hereunder
shall terminate and Executive’s rights in any stock option or incentive plans shall be governed solely by the terms of the applicable plan and grant. The Termination Benefits shall be paid in a single lump sum within thirty (30) days
following the Date of Termination, or at such other time prescribed by any applicable plan. 
 (b) Disability. Upon the termination
of Executive’s employment pursuant to Section 6(d) hereof due to Executive’s Disability, Executive shall be paid the Termination Benefits, payable in such time and manner as provided in Section 7(a). 

(c) By the Company for Cause; By Executive Upon Expiration of Term; By Executive Without Good Reason. If Executive’s employment is
terminated by the Company for Cause during the Term, the Company shall pay Executive the Accrued Amounts. If Executive voluntarily terminates employment during the Term, other than for Good Reason, or if Executive elects, effective as of any Renewal
Date, not to continue the Term, the Company shall pay Executive the Accrued Amounts. In the event of termination under this Section 7(c), no other compensation or benefits shall be payable to Executive except as otherwise required under the
terms of the Company’s employee benefits plans and programs or applicable law. The Accrued Amounts payable under this Section 7(c) shall be paid in a single lump sum within thirty (30) days following the Date of Termination, or at
such other time prescribed by any applicable plan. 
 (d) By the Company Other than for Cause, Death or Disability; By Executive for Good
Reason; or By the Company due to Expiration of the Term. If the Company terminates Executive’s employment, other than for Cause, Death or Disability, during the Term, if Executive terminates employment for Good Reason during the Term, or if
the Company terminates Executive’s employment due to expiration of the Term as provided in Section 6(f), then (1) Executive shall be paid the Accrued Benefits, payable in such time and manner as provided in Section 7(a), and any
Termination Benefits that are not Accrued Benefits shall be paid as described in Section 7(f) below, (2) any unvested equity incentive awards granted pursuant to Section 4(d) that vest solely based on the passage of time shall
immediately vest, and (3) a pro-rated portion of any performance-based equity incentive awards granted pursuant to Section 4(d) shall remain outstanding and eligible to vest based on actual
performance through the last day of the performance period, based on the number of days during the performance period that Executive was employed. In addition, the Company shall provide to Executive the benefits described below. All severance
payments payable as provided in Section 7(d)(1) shall be paid as described in Section 7(f). 
 (1) Severance Payment.
In lieu of any further compensation payments to Executive for periods subsequent to the Date of Termination, the Company shall pay to Executive an amount equal to 1.0 times (but 1.5 times if Executive terminates employment for Good Reason during
the Term) the sum of (A) the Base Compensation as of the Date of Termination and (B) the Average Bonus 

  
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Amount. The term “Average Bonus Amount” means Executive’s average annual bonus based on the amount of bonus, if any, deemed to be earned for the three (3) most recent
fiscal years completed prior to the Date of Termination, provided that, if Executive was not eligible to earn an annual bonus for at least three (3) completed fiscal years prior to the Date of Termination, then the Average Bonus shall be
(x) if Executive was eligible to earn a bonus for two (2) fiscal years completed prior to the Date of Termination, the amount of such average annual bonus deemed to have been earned, if any, for the prior two (2) fiscal years;
(y) if Executive was eligible to earn a bonus for only one (1) fiscal year completed prior to the Date of Termination, the amount of such bonus, if any, deemed to have been earned for such fiscal year; and (c) if Executive has not
been employed long enough to be eligible to earn an annual bonus, then the amount of Executive’s target annual bonus for the fiscal year in which the Date of Termination occurs. In the event a qualifying termination occurs following the
completion of a fiscal year but prior to the date the amount of the bonus is determined by the Committee with respect to such fiscal year, the amount of such bonus shall not be used in determining the Average Bonus. 

(2) Benefits. 
 (A)
During a period of twelve (12) months (but 18 months if Executive terminates employment for Good Reason during the Term) following Executive’s Date of Termination (the “Separation Period”), Executive may elect continued
health coverage under the Company’s health plan in which Executive participated at the Date of Termination, as in effect from time to time, provided that Executive shall be responsible for paying the full monthly cost of such coverage, which
shall be equal to the premium (the “COBRA Premium”) determined for purposes of continued coverage under section 4980B(f)(4) of the Code in effect from time to time. 

(B) The Company shall pay Executive an amount equal to the COBRA Premium cost of continued health coverage under the Company’s health
plan for the Separation Period, less the premium charge that is paid by the Company employees for such coverage, as in effect on Executive’s Date of Termination. The cash payments under this subsection (B) shall be paid to Executive on the
first day of the month immediately following the month in which Executive timely remits premium payment. Executive shall be eligible to receive such reimbursement until the earliest of: (x) the end of the Separation Period; (y) the date
Executive is no longer eligible to receive COBRA continuation coverage; and (z) the date on which Executive becomes eligible to receive substantially similar coverage from another employer. 

The payments and benefits provided pursuant to this Section 7(d) are intended as liquidated damages for a termination of Executive’s employment by
the Company other than for Cause, for the actions of the Company leading to a termination of Executive’s employment by Executive for Good Reason, or for a termination by the Company of Executive’s employment due to expiration of the Term
as provided in Section 6(f), and shall be the sole and exclusive remedy therefor. 
 (e) Following a Change in Control. If,
during the Term but within twelve (12) months following the consummation of a Change in Control, Executive’s employment is terminated by the Company or the Company’s successor other than for Cause, Death or Disability; or Executive
terminates employment for Good Reason; or if the Company or the Company’s successor terminates Executive’s employment due to expiration of the Term as provided in Section 6(f), then (1) Executive shall be paid the Termination
Benefits, payable in such time and manner as provided in Section 7(d), (2) any unvested equity incentive awards granted pursuant to Section 4(d) that vest solely based on the passage of time shall immediately vest, and (3) a pro-rated portion of any performance-based equity incentive awards granted pursuant to Section 4(d) shall remain outstanding and eligible to vest based on actual performance through the last day of the
performance period, based on the number of days during the performance period that Executive was employed. In addition, the Company shall provide to Executive the severance benefits described below. All severance payments payable as provided in
Section 7(e)(1) shall be paid as described in Section 7(f). 

  
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 (1) Severance Payment. In lieu of any further compensation payments to
Executive for periods subsequent to the Date of Termination, the Company shall pay to Executive an amount equal to 2.0 times the sum of (A) the Base Compensation as of the Date of Termination and (B) the Average Bonus Amount. 

(2) Benefits. 
 (A)
During a period of eighteen (18) months following Executive’s Date of Termination (the “Change in Control Separation Period”), Executive may elect continued health coverage under the Company’s health plan in which
Executive participated at the Date of Termination, as in effect from time to time, provided that Executive shall be responsible for paying the full monthly cost of such coverage, which shall be equal to the COBRA Premium in effect from time to time.

 (B) The Company shall pay Executive an amount equal to the COBRA Premium cost of continued health coverage under the Company’s
health plan for the Separation Period, less the premium charge that is paid by the Company employees for such coverage, as in effect on Executive’s Date of Termination. The cash payments under this subsection (B) shall be paid to Executive
on the first day of the month immediately following the month in which Executive timely remits premium payment. Executive shall be eligible to receive such reimbursement until the earliest of: (x) the end of the Change in Control Separation
Period; (y) the date Executive is no longer eligible to receive COBRA continuation coverage; and (z) the date on which Executive becomes eligible to receive substantially similar coverage from another employer. 

(f) Severance Payment Provisions. 

(1) All severance amounts payable upon Executive’s termination of employment as described in Sections 7(d)(1) and 7(e)(1) shall be
payable, respectively, in 12 (18 in the event that Executive terminates employment for Good Reason during the Term under Section 7(d)(1)) or 36 equal monthly installment payments payable in accordance with the Company’s normal payroll
practices, which shall commence within sixty (60) days following the Date of Termination, subject to Executive’s delivery to the Company of an effective release of all claims against the Company and its affiliates in the standard form
provided by the Company for employee terminations (“Release”) and Executive’s compliance with Sections 8, 9 and 10 below, and provided the Release has become final and irrevocable by that time. The first installment payment
shall include all severance payments that would have otherwise been paid to Executive during the period beginning on the Date of Termination and ending on the first payment date if no delay had been imposed as a result of the execution of the
Release. In the event that the period of time during which Executive may sign the Release begins in one calendar year and ends in another calendar year, payment shall not be made until the beginning of the second calendar year. 

(2) Notwithstanding the foregoing, all payments that are subject to the section 409A six-month delay
shall be postponed as described in Section 14 below. 
 8. Confidential Information. Except as otherwise set forth
in Section 13(a), Executive shall not, directly or indirectly, use, disclose, reverse engineer, divulge, sell, exchange, furnish, give away, transfer or otherwise reveal in any way, any Confidential Information to any person, natural or legal,
except as required in the course of performing Executive’s duties under this Agreement or as authorized in writing by the Company. Executive’s obligations under this Agreement are in addition to, and not in lieu of, any

  
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other obligations Executive has to protect Confidential Information (including obligations arising under applicable law), and such obligations will continue for so long as the information in
question continues to constitute Confidential Information, but shall not apply to any information which is or becomes publicly available otherwise than by any breach of this Section 8. As used herein, “Confidential Information”
means all information of the Company in any form that relates to the past, present and future business affairs of the Company or a person not a party to this Agreement whose information the Company has in its possession under obligations of
confidentiality, which has value to the Company or, if owned by someone else, has value to that third party, and is not generally known to the Company’s competitors. Confidential Information includes, but is not limited to, (a) methods of
operation, (b) price lists, (c) financial information and projections, (d) personnel data, (e) past, present or future business plans, (f) the composition, description, schematic or design of products or equipment of the
Company or any third party, (g) advertising or marketing plans, (h) information regarding the Company’s independent contractors or employees, (i) information regarding customer, supplier, vendor, licensee, issuer, originator,
investor or other business relation of the Company, (j) information regarding any third party, and (k) all writings, works of authorship, technology, designs, specifications, schematics, tests, test results, manufacturing techniques,
manufacturing documentation, inventions, discoveries, ideas and other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived or reduced to practice by Executive individually or jointly with
others during the period of Executive’s employment by the Company and relating in any way to the business or demonstrably contemplated business, research or development of the Company and all printed, physical and electronic copies, all
improvements, rights and claims related to the foregoing, and other tangible embodiments thereof. Confidential Information also includes trade secrets (as defined under applicable law) as well as information that does not rise to the level of a
trade secret, information that has been entrusted to the Company by a third party under an obligation of confidentiality, and other such confidential or proprietary information, whether such information is developed in whole or in part by Executive,
by others in the Company or obtained by the Company from third parties, and irrespective of whether such information has been identified by the Company as secret or confidential. 

9. Covenant Not to Solicit. Executive shall not, during the Term and for a period ending on the date one (1) year
from Executive’s termination of employment, directly or indirectly through another person or entity (a) induce or attempt to induce any officer or employee of the Company or its affiliates to leave the employ of the Company or such
affiliate, or in any way interfere with the relationship between the Company and any of its affiliates and any officer or employee thereof, (b) hire any person who was an officer or employee of the Company or any of its affiliates within 180
days after such person ceased to be an officer or employee of the Company or any of its affiliates or (c) induce or attempt to induce any customer, supplier, vendor, licensee, issuer, originator, investor or other business relation of the
Company or any of its affiliates to cease doing business with the Company or such affiliate for purposes of selling or providing any products or services competitive with those sold or provided by the Company or such affiliate or in any way
interfere with the relationship between any such customer, supplier, vendor, licensee, issuer, originator, investor or business relation and the Company or any of its affiliates. For purposes of this Agreement, products and services shall be
considered competitive with those sold or provided by the Company or any of its affiliates if such products or services are of the type conducted, authorized, offered or provided by the Company or such affiliate within one (1) year prior to the
Date of Termination. 
 10. Covenant not to Compete. Executive shall not, during the Term and for a period ending on
the date eighteen (18) months from Executive’s termination of employment,1 directly or indirectly, whether through Executive or through another person or entity, engage in the Prohibited
Activities in the Territory for or on behalf of Executive or any other business entity that is a Competitive Business; provided, 

 

	1 	 For the avoidance of doubt, Executive’s post-employment
non-solicit and non-compete obligations under Sections 9 and 10 of this Agreement begin after the period of Executive’s employment by the Company or a Third Party
Beneficiary pursuant to the terms of this Agreement or through assignment of this Agreement. 

  
 10 

 
that this covenant shall not prohibit Executive’s passive ownership of up to 1% of the equity securities of any Competitive Business. The parties acknowledge and agree that, if necessary to
determine the reasonable geographic scope of this restraint, the Company may rely on appropriate documentation and evidence outside the provisions of this Agreement. 

(a) For purposes of this Agreement, “Prohibited Activities” means owning, managing, operating, controlling, being
employed by, serving as an officer or director of, consulting or assisting with, or participating in the ownership, management, operation or control of, any business that engages in activities that are the same as or similar to any aspect of a
Competitive Business (as defined below) as conducted by Executive for or on behalf of the Company within the two (2) years preceding the date of Executive’s termination of employment (or in the preceding two (2) years if Executive is
still employed by the Company). 
 (b) For purposes of this Agreement, “Competitive Business” means (i) providing
advisory services, including managing, operating, directing and supervising the operations and administration of any business that is principally engaged in the ownership and/or management of multifamily real estate properties, including
coordinating the leasing of and managing construction activities related to such properties and investments, (ii) any similar activities conducted, authorized, offered or provided by the Company within one (1) year preceding the date of
Executive’s termination of employment (or in the preceding one (1) year if Executive is still employed by the Company), or proposed to be conducted as of the date of Executive’s termination of employment, and (iii) any other
business being conducted, authorized, offered or provided by the Company during the Term or proposed to be conducted as of the date of Executive’s termination of employment. 

(c) For purposes of this Agreement, “Territory” means the geographic area where, within the one (1) year preceding the
date of Executive’s termination of employment (or in the preceding one (1) year if Executive is still employed by the Company), Executive worked, represented the Company, had responsibilities on behalf of the Company or had contact
with the Company’s customers, clients, investors, actively sought prospective customers, clients, investors, and other material business relations of the Company. It is understood that the Territory currently includes the following
geographic areas: the United States of America. The parties acknowledge that the Territory may expand to include additional geographic areas not listed in the immediately preceding sentence to the extent that Executive’s work location or duties
and responsibilities change over time. Such additional geographic areas will be automatically deemed to be part of the Territory. 
 11.
Remedies in Case of Breach of Certain Covenants.  
 (a) The Company and Executive agree that the damages that may
result to the Company from misappropriation of confidential information or solicitation or competition as prohibited by Sections 8, 9 and 10 could be estimated only by conjecture and not by any accurate standard, and, therefore, any breach by
Executive of the provisions of such Sections, in addition to giving rise to monetary damages, will entitle the Company to obtain specific performance and injunctive relief, without posting bond or other security unless required by a court of
competent jurisdiction, to enforce such Sections. 
 (b) Each of the covenants set forth in Sections 8, 9 and 10 of this Agreement shall be
construed as an agreement independent of (i) any other agreements, or (ii) any other provision in this Agreement, and the existence of any claim or cause of action by Executive against the Company, whether predicated on this Agreement or
otherwise, regardless of who was at fault and regardless of any claims that either Executive or the Company may have against the other, shall not constitute a defense to the enforcement by the Company of any of the covenants set forth in Sections 8,
9 and 10 of this Agreement. The Company shall not be barred from enforcing any of the covenants set forth in Sections 8, 9 and 10 of this Agreement by reason of any breach of (iii) any other part of this Agreement, or (iv) any other
agreement with Executive. 

  
 11 

 12. Assignment. 

(a) This Agreement is personal to Executive and, without the prior written consent of the Company, shall not be assignable by Executive. This
Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. 
 (b) This Agreement shall inure to
the benefit of and be binding upon the Company and its successors and assigns, and the Company may assign this Agreement to any company in which the Company has an interest. 

(c) The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or
substantially all of the business and/or assets of the Company expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would have been required to perform it if no such succession had taken
place. As used in this Agreement, “Company” shall mean both Resource NewCo LLC and any such successor that assumes and agrees to perform this Agreement, by operation of law or otherwise. 

13. Miscellaneous. 

(a) Protected Rights; Defend Trade Secrets Act. 

(1) Nothing in this Agreement shall limit Executive’s ability to (A) file a charge or complaint with the Equal Employment
Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission, or any other federal, state, or local governmental agency or commission (collectively,
“Government Agencies”), (B) communicate with any Government Agencies, or (C) otherwise participate in any investigation or proceeding that may be conducted by any Government Agencies, including providing documents or other
information, without notice to the Company; provided, however, that in making any such disclosures or communications, Executive shall take all reasonable precautions to prevent any unauthorized use or disclosure of any Confidential Information to
parties other than the relevant Government Agencies. 
 (2) Executive is hereby notified that under the Defend Trade Secrets Act of 2016:
(A) no individual shall be held criminally or civilly liable under federal or state law for the disclosure of a trade secret that is: (x) made in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney, and made solely for the purpose of reporting or investigating a suspected violation of law; or (y) made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is
not made public; and (B) an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in
the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order. 

(b) Severability. The provisions of this Agreement are severable. If any provision is determined to be invalid, illegal, or
unenforceable, in whole or in part, the remaining provisions and any partially enforceable provisions shall remain in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. Further,
if any part on any provision of this Agreement shall be determined to be invalid or unenforceable by a court of competent jurisdiction by reason of the extent, duration or geographical scope thereof, or otherwise, then the parties agree that the
court making such determination may reduce such extent, duration or geographical scope, or other provisions thereof, and in its reduced form such part or provision shall then be enforceable in the manner contemplated hereby. 

  
 12 

 (c) Modification of Agreement. This Agreement may not be modified in whole or in part
by any oral agreement, either expressed or implied, and all modifications thereof shall be in writing and signed by the parties hereto. Notwithstanding the foregoing, if it is determined by a court of competent jurisdiction that any restrictive
covenant set forth in this Agreement is excessive in duration or scope or is unreasonable or unenforceable, it is the intention of the parties that such restriction may be modified by the court to render it enforceable to the maximum extent
permitted by law. 
 (d) Survival. Any obligations under this Agreement which by their terms extend beyond or survive the termination
of the Term (whether or not specifically provided) shall not be affected or diminished in any way by the termination of the Term and shall survive the expiration or termination of this Agreement for any reason and shall thereafter be enforceable
whether or not such termination is claimed or found to be wrongful or to constitute or result in a breach of any contract or of any other duty owed or claimed to be owed to Executive by the Company. 

(e) Waiver. The waiver of any right under this Agreement by any of the parties hereto shall not be construed as a waiver of the same
right at a future time or as a waiver of any other rights under this Agreement. The waiver by one party hereto of any breach of this Agreement by another of the parties hereto shall not act as a waiver of any other breach. 

(f) Entire Agreement. This Agreement, along with the Acknowledgement and Agreement of Termination and the Restrictive Covenants
Agreement, constitutes the entire and only agreement between the parties concerning the subject matter of this Agreement, the Acknowledgement and Agreement of Termination and the Restrictive Covenants Agreement. The terms set forth in this
Agreement, the Acknowledgement and Agreement of Termination and the Restrictive Covenants Agreement supersede any prior communications, agreements or understandings, whether oral or written, between the parties concerning the subject matters set
forth in this Agreement, the Acknowledgement and Agreement of Termination and the Restrictive Covenants Agreement. 
 (g) Third Party
Beneficiaries. The parties acknowledge and agree that Resource Real Estate Opportunity OP, LP, a Delaware limited partnership, REIT I, REIT II, and REIT III, and each of their Affiliates and Successors (excluding, for clarity, any Contributor
Party or any Contributor Party’s affiliates) is an intended third party beneficiary of this Agreement, with full rights to enforce this Agreement. Except as stated in the preceding sentence, this Agreement does not confer any rights or remedies
upon any person or entity other than the parties to this Agreement and their respective successors and permitted assigns. 
 (h)
Construction. In the event that an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointed by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any of the provisions of this Agreement. As used in this Agreement, “or” is used in the inclusive sense of “and/or”; “including” means “including without limitation”; and,
where the context so permits, terms used in the singular shall be deemed to include the plural, and vice versa. 

  
 13 

 (i) Governing Law; Consent to Jurisdiction and Venue. This Agreement shall be deemed
to be made in, and in all respects shall be interpreted, construed, and governed by and in accordance with the laws of the Commonwealth of Pennsylvania, irrespective of its
choice-of-law rules. Any and all claims arising out of or relating to this Agreement, Executive’s employment with the Company, or Executive’s cessation of
employment with the Company shall be brought exclusively in the state or federal courts with jurisdiction over Philadelphia County, Pennsylvania. Executive consents to the personal jurisdiction of such courts, and hereby waives (1) any
objection to jurisdiction or venue, or (2) any defense claiming lack of jurisdiction or improper venue, in any action brought in such courts. 

(j) Notices. Any notice to be given pursuant to this Agreement shall be sufficient if in writing and mailed by certified or registered
mail, postage-prepaid, to the addresses listed below, or to such other address as either party may notify the other of in accordance with this Section. 

If to the Company: 

Resource NewCo LLC 
 1845 Walnut
Street 
 Philadelphia, PA 19103 

Attn: Chief Executive Officer 

If to Executive: 
 Michele
R. Weisbaum 
 Last address on file with the Company 

(k) Duplicate Originals and Counterparts. This Agreement may be executed in any number of duplicate originals or counterparts or
facsimile or scanned signature counterparts, each of such duplicate original or counterpart or facsimile or scanned signature counterpart shall be deemed to be an original and all taken together shall constitute but one and the same instrument. 

14. Section 280G 

(a) 280G Payments. If any of the payments or benefits received or to be received by Executive (including, without limitation, any
payment or benefits received in connection with a Change in Control or Executive’s termination of employment) (all such payments collectively referred to herein as the “280G Payments”) constitute “parachute payments”
within the meaning of section 280G of the Code and would, but for this Section 14, be subject to the excise tax imposed under section 4999 of the Code (the “Excise Tax”), then prior to making the 280G Payments, a calculation
shall be made comparing (1) the Net Benefit (as defined below) to Executive of the 280G Payments after payment of the Excise Tax to (2) the Net Benefit to Executive if the 280G Payments are limited to the extent necessary to avoid being
subject to the Excise Tax. Only if the amount calculated under (1) above is less than the amount under (2) above will the 280G Payments be reduced to the minimum extent necessary to ensure that no portion of the 280G Payments is subject to
the Excise Tax. For purposes of this Section 14, “Net Benefit” shall mean the present value of the 280G Payments net of all federal, state, local, foreign income, employment, and excise taxes. Any reduction made pursuant to
this Section 14 shall be made in a manner determined by the Company that is consistent with the requirements of section 409A. 
 (b)
280G Calculations. All calculations and determinations under this Section 14 shall be made by an independent accounting firm or independent tax counsel appointed by the Company (the “Tax Counsel”) whose determinations
shall be conclusive and binding on the Company and Executive for all purposes. For purposes of making the calculations and determinations required by this Section 14, the Tax Counsel may rely on reasonable, good faith assumptions and
approximations concerning the application of section 280G and section 4999 of the Code. The Company and Executive shall furnish the Tax Counsel with such information and documents as the Tax Counsel may reasonably request in order to make its
determinations under this Section 14. The Company shall bear all costs the Tax Counsel may reasonably incur in connection with its services. 

  
 14 

 15. Section 409A. 

(a) Payment Delay. Notwithstanding anything in this Agreement to the contrary, if Executive is a “specified employee” of a
publicly traded corporation under section 409A of the Code and if payment of any amount under this Agreement is required to be delayed for a period of six (6) months after separation from service pursuant to section 409A of the Code, payment of
such amount shall be delayed as required by section 409A of the Code, and the accumulated postponed amount, with interest (if applicable), shall be paid in a lump sum payment within ten (10) days after the end of the six-month period. If Executive dies during the postponement period prior to the payment of postponed amount, the amounts withheld on account of section 409A of the Code, with interest (if applicable), shall be paid
to the personal representative of Executive’s estate within sixty (60) days after the date of Executive’s death. A “specified employee” shall mean an employee who, at any time during the twelve (12) month period ending
on the identification date, is a “specified employee” under section 409A of the Code, as determined by the Board. The determination of “specified employees,” including the number and identity of persons considered “specified
employees” and the identification date, shall be made by the Board in accordance with the provisions of sections 416(i) and 409A of the Code and the regulations issued thereunder. 

(b) Section 409A Compliance. This Agreement is intended to comply with the requirements of section 409A of the Code,
and shall in all respects be administered in accordance with section 409A. Notwithstanding anything in the Agreement to the contrary, distributions may only be made under the Agreement upon an event and in a manner permitted by section 409A of the
Code or an applicable exemption. All payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” under section 409A. For purposes of section 409A of the Code, the right to a
series of payments under this Agreement shall be treated as a right to a series of separate payments. In no event may Executive, directly or indirectly, designate the calendar year of a payment. All reimbursements and
in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of section 409A of the Code, including, where applicable, the requirement that (1) any
reimbursement shall be for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Agreement), (2) the amount of expenses eligible for reimbursement, or in-kind
benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (3) the reimbursement of an eligible
expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (4) the right to reimbursement or in-kind benefits is not subject to
liquidation or exchange for another benefit. 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have executed or caused to be executed this Agreement as of the date
that includes the Effective Time. 
  

			
	COMPANY:
	
	RESOURCE NEWCO LLC
		
	By:	 	 /s/ Alan F. Feldman

	Name: Alan F. Feldman
	Title: Chief Executive Officer
	
	EXECUTIVE:
	
	 /s/ Michele R. Weisbaum

	Michele R. Weisbaum

  
 16EX-10.9

 Exhibit 10.9 

RESOURCE REAL ESTATE OPPORTUNITY REIT, INC. 

2020 LONG-TERM INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1.  Establishment, Purpose and Term of Plan
	  	 	1	 
		
	 1.1   Establishment
	  	 	1	 
		
	 1.2   Purpose
	  	 	1	 
		
	 1.3   Term of Plan
	  	 	1	 
		
	 2.  Definitions and Construction
	  	 	1	 
		
	 2.1   Definitions
	  	 	1	 
		
	 2.2   Construction
	  	 	9	 
		
	 3.  Administration
	  	 	9	 
		
	 3.1   Administration by the Committee
	  	 	9	 
		
	 3.2   Authority of Officers
	  	 	9	 
		
	 3.3   Administration with Respect to Insiders
	  	 	10	 
		
	 3.4   Powers of the Committee
	  	 	10	 
		
	 3.5   Option or SAR Repricing
	  	 	11	 
		
	 3.6   Indemnification
	  	 	11	 
		
	 4.  Shares Subject to Plan
	  	 	12	 
		
	 4.1   Maximum Number of Shares Issuable
	  	 	12	 
		
	 4.2   Share Counting
	  	 	12	 
		
	 4.3   Adjustments for Changes in Capital Structure
	  	 	12	 
		
	 4.4   Assumption or Substitution of Awards
	  	 	13	 
		
	 5.  Eligibility, Participation and Award Limitations
	  	 	13	 
		
	 5.1   Persons Eligible for Awards
	  	 	13	 
		
	 5.2   Participation in the Plan
	  	 	13	 
		
	 5.3   Incentive Stock Option Limitations
	  	 	13	 
		
	 5.4   Nonemployee Director Award Limit
	  	 	14	 
		
	 5.5   Minimum Vesting
	  	 	14	 
		
	 6.  Stock Options
	  	 	15	 
		
	 6.1   Exercise Price
	  	 	15	 
		
	 6.2   Exercisability and Term of Options
	  	 	15	 
		
	 6.3   Payment of Exercise Price
	  	 	15	 
		
	 6.4   Effect of Termination of Service
	  	 	16	 
		
	 6.5   Transferability of Options
	  	 	17	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
		
	 7.  Stock Appreciation Rights
	  	 	18	 
		
	 7.1   Types of SARs Authorized
	  	 	18	 
		
	 7.2   Exercise Price
	  	 	18	 
		
	 7.3   Exercisability and Term of SARs
	  	 	18	 
		
	 7.4   Exercise of SARs
	  	 	19	 
		
	 7.5   Deemed Exercise of SARs
	  	 	19	 
		
	 7.6   Effect of Termination of Service
	  	 	19	 
		
	 7.7   Transferability of SARs
	  	 	19	 
		
	 8.  Restricted Stock Awards
	  	 	20	 
		
	 8.1   Types of Restricted Stock Awards Authorized
	  	 	20	 
		
	 8.2   Purchase Price
	  	 	20	 
		
	 8.3   Purchase Period
	  	 	20	 
		
	 8.4   Payment of Purchase Price
	  	 	20	 
		
	 8.5   Vesting and Restrictions on Transfer
	  	 	20	 
		
	 8.6   Voting Rights; Dividends and Distributions
	  	 	21	 
		
	 8.7   Effect of Termination of Service
	  	 	21	 
		
	 8.8   Nontransferability of Restricted Stock Award Rights
	  	 	21	 
		
	 9.  Restricted Stock Units
	  	 	22	 
		
	 9.1   Grant of Restricted Stock Unit Awards
	  	 	22	 
		
	 9.2   Purchase Price
	  	 	22	 
		
	 9.3   Vesting
	  	 	22	 
		
	 9.4   Voting Rights, Dividend Equivalent Rights and Distributions
	  	 	22	 
		
	 9.5   Effect of Termination of Service
	  	 	23	 
		
	 9.6   Settlement of Restricted Stock Unit Awards
	  	 	23	 
		
	 9.7   Nontransferability of Restricted Stock Unit Awards
	  	 	23	 
		
	 10.  Performance Awards
	  	 	24	 
		
	 10.1  Types of Performance Awards Authorized
	  	 	24	 
		
	 10.2  Initial Value of Performance Shares and Performance Units
	  	 	24	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 10.3  Establishment of Performance Period, Performance Goals and Performance Award
Formula
	  	 	24	 
		
	 10.4  Measurement of Performance Goals
	  	 	24	 
		
	 10.5  Settlement of Performance Awards
	  	 	26	 
		
	 10.6  Voting Rights; Dividend Equivalent Rights and Distributions
	  	 	27	 
		
	 10.7  Effect of Termination of Service
	  	 	28	 
		
	 10.8  Nontransferability of Performance Awards
	  	 	28	 
		
	 11.  Cash-Based Awards and Other Stock-Based Awards
	  	 	29	 
		
	 11.1  Grant of Cash-Based Awards
	  	 	29	 
		
	 11.2  Grant of Other Stock-Based Awards
	  	 	29	 
		
	 11.3  Value of Cash-Based and Other Stock-Based Awards
	  	 	29	 
		
	 11.4  Payment or Settlement of Cash-Based Awards and Other Stock-Based
Awards
	  	 	29	 
		
	 11.5  Voting Rights; Dividend Equivalent Rights and Distributions
	  	 	30	 
		
	 11.6  Effect of Termination of Service
	  	 	30	 
		
	 11.7  Nontransferability of Cash-Based Awards and Other Stock-Based Awards
	  	 	30	 
		
	 12.  Standard Forms of Award Agreement
	  	 	30	 
		
	 12.1  Award Agreements
	  	 	30	 
		
	 12.2  Authority to Vary Terms
	  	 	31	 
		
	 13.  Change in Control
	  	 	31	 
		
	 13.1  Effect of Change in Control on Awards
	  	 	31	 
		
	 13.2  Effect of Change in Control on Nonemployee Director Awards
	  	 	32	 
		
	 13.3  Federal Excise Tax Under Section 4999 of the Code
	  	 	33	 
		
	 14.  Compliance with Securities Law
	  	 	33	 
		
	 15.  Compliance with Section 409A
	  	 	34	 
		
	 15.1  Awards Subject to Section 409A
	  	 	34	 
		
	 15.2  Deferral and/or Distribution Elections
	  	 	34	 
		
	 15.3  Subsequent Elections
	  	 	35	 
		
	 15.4  Payment of Section 409A Deferred Compensation
	  	 	35	 
		
	 16.  Tax Withholding
	  	 	37	 
		
	 16.1  Tax Withholding in General
	  	 	37	 
		
	 16.2  Withholding in or Directed Sale of Shares
	  	 	37	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
		
	 17.  Amendment, Suspension or Termination of Plan
	  	 	38	 
		
	 18.  Miscellaneous Provisions
	  	 	38	 
		
	 18.1  Repurchase Rights
	  	 	38	 
		
	 18.2  Forfeiture Events
	  	 	39	 
		
	 18.3  Provision of Information
	  	 	39	 
		
	 18.4  Rights as Employee, Consultant or Director
	  	 	39	 
		
	 18.5  Rights as a Stockholder
	  	 	39	 
		
	 18.6  Delivery of Title to Shares
	  	 	39	 
		
	 18.7  Fractional Shares
	  	 	40	 
		
	 18.8  Retirement and Welfare Plans
	  	 	40	 
		
	 18.9  Beneficiary Designation
	  	 	40	 
		
	 18.10  Severability
	  	 	40	 
		
	 18.11  No Constraint on Corporate Action
	  	 	40	 
		
	 18.12  Unfunded Obligation
	  	 	40	 
		
	 18.13  Choice of Law
	  	 	41	 

  

  
 -iv- 

 Resource Real Estate Opportunity REIT, Inc. 

2020 Long-Term Incentive Plan 

1. ESTABLISHMENT, PURPOSE AND TERM OF
PLAN. 
 1.1 Establishment. The Resource Real Estate
Opportunity REIT, Inc. 2020 Long-Term Incentive Plan (the “Plan”) is hereby established effective as of _________, 2020, the date of its approval by the Board (the “Effective
Date”). 
 1.2 Purpose. The purpose of the Plan is to advance the interests of the Participating
Company Group and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to contribute to the growth and profitability of the
Participating Company Group. The Plan seeks to achieve this purpose by providing for Awards in the form of Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards
and Other Stock-Based Awards. 
 1.3 Term of Plan. The Plan shall continue in effect until its termination by the Committee; provided,
however, that all Awards shall be granted, if at all, within ten (10) years from the Effective Date. 
 2.
DEFINITIONS AND CONSTRUCTION. 
 2.1
Definitions. Whenever used herein, the following terms shall have their respective meanings set forth below: 
 (a)
“Affiliate” means (i) a parent entity, other than a Parent Corporation, that directly, or indirectly through one or more intermediary entities, controls the Company or (ii) a subsidiary entity, other
than a Subsidiary Corporation, that is controlled by the Company directly or indirectly through one or more intermediary entities. For this purpose, the terms “parent,” “subsidiary,” “control” and “controlled
by” shall have the meanings assigned such terms for the purposes of registration of securities on Form S-8 under the Securities Act. 

(b) “Award” means any Option, Stock Appreciation Right, Restricted Stock Purchase Right, Restricted
Stock Bonus, Restricted Stock Unit, Performance Share, Performance Unit, Cash-Based Award or Other Stock-Based Award granted under the Plan. 

(c) “Award Agreement” means a written or electronic agreement between the Company and a Participant
setting forth the terms, conditions and restrictions applicable to an Award. 
 (d) “Board” means the
Board of Directors of the Company. 
 (e) “Cash-Based Award” means an Award denominated in cash and
granted pursuant to Section 11. 

 (f) “Cashless Exercise” means a Cashless Exercise as
defined in Section 6.3(b)(i). 
 (g) “Cause” means, unless such term or an equivalent term is
otherwise defined by the applicable Award Agreement or other written agreement between a Participant and a Participating Company applicable to an Award, any of the following: (i) the Participant’s theft, dishonesty, willful misconduct,
breach of fiduciary duty for personal profit, or falsification of any Participating Company documents or records; (ii) the Participant’s material failure to abide by a Participating Company’s code of conduct or other policies
(including, without limitation, policies relating to confidentiality and reasonable workplace conduct); (iii) the Participant’s unauthorized use, misappropriation, destruction or diversion of any tangible or intangible asset or corporate
opportunity of a Participating Company (including, without limitation, the Participant’s improper use or disclosure of a Participating Company’s confidential or proprietary information); (iv) any intentional act by the Participant
which has a material detrimental effect on a Participating Company’s reputation or business; (v) the Participant’s repeated failure or inability to perform any reasonable assigned duties after written notice from a Participating
Company of, and a reasonable opportunity to cure, such failure or inability; (vi) any material breach by the Participant of any employment, service, non-disclosure,
non-competition, non-solicitation or other similar agreement between the Participant and a Participating Company, which breach is not cured pursuant to the terms of such
agreement; or (vii) the Participant’s conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud, dishonesty, misappropriation or moral turpitude, or which impairs the Participant’s ability
to perform his or her duties with a Participating Company. 
 (h) “Change in Control” means, unless
such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written agreement between the Participant and a Participating Company applicable to an Award, the occurrence of any one or a combination of the
following: 
 (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the
“beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total
Fair Market Value or total combined voting power of the Company’s then-outstanding securities entitled to vote generally in the election of Directors; provided, however, that a Change in Control shall not
be deemed to have occurred if such degree of beneficial ownership results from any of the following: (A) an acquisition by any person who on the Effective Date is the beneficial owner of more than fifty percent (50%) of such voting power,
(B) any acquisition directly from the Company, including, without limitation, pursuant to or in connection with a public offering of securities, (C) any acquisition by the Company, (D) any acquisition by a trustee or other fiduciary
under an employee benefit plan of a Participating Company or (E) any acquisition by an entity owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the voting securities of
the Company; or 

  
 2 

 (ii) an Ownership Change Event or series of related Ownership Change Events (collectively,
a “Transaction”) in which the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial ownership of more than fifty percent
(50%) of the total combined voting power of the outstanding securities entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in Section 2.1(ff)(iii), the entity to which the assets of the
Company were transferred (the “Transferee”), as the case may be; or 
 (iii) a date specified by the
Committee following approval by the stockholders of a plan of complete liquidation or dissolution of the Company; 
 provided, however, that a Change in
Control shall be deemed not to include a transaction described in subsections (i) or (ii) of this Section 2.1(h) in which a majority of the members of the board of directors of the continuing, surviving or successor entity, or parent
thereof, immediately after such transaction is comprised of Incumbent Directors. 
 For purposes of the preceding sentence, indirect
beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company or the Transferee, as the case may be, either directly
or through one or more subsidiary corporations or other business entities. The Committee shall determine whether multiple events described in subsections (i), (ii) and (iii) of this Section 2.1(h) are related and to be treated in the
aggregate as a single Change in Control, and its determination shall be final, binding and conclusive. 
 (i)
“Code” means the Internal Revenue Code of 1986, as amended, and any applicable regulations and administrative guidelines promulgated thereunder. 

(j) “Committee” means the Compensation Committee and such other committee or subcommittee of the Board,
if any, duly appointed to administer the Plan and having such powers in each instance as shall be specified by the Board. If, at any time, there is no committee of the Board then authorized or properly constituted to administer the Plan, the Board
shall exercise all of the powers of the Committee granted herein, and, in any event, the Board may in its discretion exercise any or all of such powers. 

(k) “Company” means Resource Real Estate Opportunity REIT, Inc., a Maryland corporation, and any
successor corporation thereto. 
 (l) “Consultant” means a person engaged to provide consulting or
advisory services (other than as an Employee or a Director) to a Participating Company, provided that the identity of such person, the nature of such services or the entity to which such services are provided would not preclude the Company from
offering or selling securities to such person pursuant to the Plan in reliance on registration on Form S-8 under the Securities Act. 

(m) “Director” means a member of the Board. 

(n) “Disability” means, unless such term or an equivalent term is otherwise defined by the applicable
Award Agreement or other written agreement between the Participant and a Participating Company applicable to an Award, the permanent and total disability of the Participant, within the meaning of Section 22(e)(3) of the Code. 

  
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 (o) “Dividend Equivalent Right” means the right of a
Participant, granted at the discretion of the Committee or as otherwise provided by the Plan, to receive a credit for the account of such Participant in an amount equal to the cash dividends paid on one share of Stock for each share of Stock
represented by an Award held by such Participant. 
 (p) “Employee” means any person treated as an
employee (including an Officer or a Director who is also treated as an employee) in the records of a Participating Company and, with respect to any Incentive Stock Option granted to such person, who is an employee for purposes of Section 422 of
the Code; provided, however, that neither service as a Director nor payment of a Director’s fee shall be sufficient to constitute employment for purposes of the Plan. The Company shall determine in good faith and in the exercise of its
discretion whether an individual has become or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment, as the case may be. For purposes of an individual’s rights, if any, under the
terms of the Plan as of the time of the Company’s determination of whether or not the individual is an Employee, all such determinations by the Company shall be final, binding and conclusive as to such rights, if any, notwithstanding that the
Company or any court of law or governmental agency subsequently makes a contrary determination as to such individual’s status as an Employee. 

(q) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(r) “Fair Market Value” means, as of any date, the value of a share of Stock or other property as
determined by the Committee, in its discretion, or by the Company, in its discretion, if such determination is expressly allocated to the Company herein, subject to the following: 

(i) Except as otherwise determined by the Committee, if, on such date, the Stock is listed or quoted on a national or regional securities
exchange or quotation system, the Fair Market Value of a share of Stock shall be the closing price of a share of Stock as quoted on the national or regional securities exchange or quotation system constituting the primary market for the Stock, as
reported in The Wall Street Journal or such other source as the Company deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or quotation system, the date on which the Fair
Market Value shall be established shall be the last day on which the Stock was so traded or quoted prior to the relevant date, or such other appropriate day as shall be determined by the Committee, in its discretion. 

(ii) Notwithstanding the foregoing, the Committee may, in its discretion, determine the Fair Market Value of a share of Stock on the basis of
the opening, closing, or average of the high and low sale prices of a share of Stock on such date or the preceding trading day, the actual sale price of a share of Stock received by a Participant, any other reasonable basis using actual transactions
in the Stock as reported on a national or regional securities exchange or quotation system, or on any other basis consistent with the requirements of Section 409A. The Committee may also determine the Fair Market Value upon the average selling
price of the Stock during a specified period that is within thirty (30) days before or thirty (30) days after such date, provided that, with respect to the grant of an Option or SAR, the commitment to grant such Award based on such
valuation method must be irrevocable before the beginning of the specified period. The Committee may vary its method of determination of the Fair Market Value as provided in this Section for different purposes under the Plan to the extent consistent
with the requirements of Section 409A. 

  
 4 

 (iii) If, on such date, the Stock is not listed or quoted on a national or regional
securities exchange or quotation system, the Fair Market Value of a share of Stock shall be as determined by the Committee in good faith without regard to any restriction other than a restriction which, by its terms, will never lapse, and in a
manner consistent with the requirements of Section 409A. 
 (s) “Full Value Award” means any
Award settled in Stock, other than (i) an Option, (ii) a Stock Appreciation Right, or (iii) a Restricted Stock Purchase Right or an Other Stock-Based Award under which the Company will receive monetary consideration equal to the Fair
Market Value (determined on the effective date of grant) of the shares subject to such Award. 
 (t) “Good
Reason” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written agreement between a Participant and a Participating Company applicable to an Award, any of the
following with respect to a particular Participant without the Participant’s informed written consent: (i) a material diminution of the Participant’s authority, duties or responsibilities causing the Participant’s authority,
duties or responsibilities to be of materially lesser rank within the Company or an equivalent business unit of its parent, as measured against the Participant’s authority, duties and responsibilities immediately prior to such diminution;
(ii) a material reduction by the Company of the Participant’s base salary or annual bonus opportunity, other than any such material reduction that occurs in connection with a reduction that is imposed on all Participants at the time of
such reduction; (iii) the relocation of the Participant’s work place for the Company to a location that increases the Participant’s regular one-way commute distance between the
Participant’s residence and work place by more than thirty-five (35) miles. The existence of Good Reason shall not be affected by the Participant’s temporary incapacity due to physical or mental illness not constituting a Disability.
The Participant’s continued employment for a period not exceeding six (6) months following the initial occurrence of any condition constituting Good Reason shall not constitute consent to, or a waiver of rights with respect to, such
condition. 
 (u) “Incentive Stock Option” means an Option intended to be (as set forth in the Award
Agreement) and which qualifies as an incentive stock option within the meaning of Section 422(b) of the Code. 
 (v)
“Incumbent Director” means a director who either (i) is a member of the Board as of the Effective Date or (ii) is elected, or nominated for election, to the Board with the affirmative votes of at least
a majority of the Incumbent Directors at the time of such election or nomination (but excluding a director who was elected or nominated in connection with an actual or threatened proxy contest relating to the election of directors of the Company).

  
 5 

 (w) “Insider” means an Officer, a Director or other
person whose transactions in Stock are subject to Section 16 of the Exchange Act. 
 (x) “Involuntary
Termination” means, as to a particular Participant, the occurrence of any of the following upon or within a period of time established by the Committee (not exceeding twenty-four (24) months) following a Change in Control:
(i) the Participant’s Service is terminated without Cause or (ii) the Participant terminates his or her Service for Good Reason; provided the Participant has given the Company written notice of the existence of a condition
constituting Good Reason within sixty (60) days following the initial occurrence of such condition, the Company fails to remedy such condition within thirty (30) days following such written notice, and the Participant’s resignation
from Service is effective no later than six (6) months following the initial occurrence of such condition. Involuntary Termination shall not include any termination of the Participant’s Service which is (i) for Cause, (ii) a
result of the Participant’s death or Disability, or (iii) a result of the Participant’s voluntary termination of Service other than for Good Reason. 

(y) “Net Exercise” means a Net Exercise as defined in Section 6.3(b)(iii). 

(z) “Nonemployee Director” means a Director who is not an Employee. 

(aa) “Nonemployee Director Award” means any Award granted to a Nonemployee Director. 

(bb) “Nonstatutory Stock Option” means an Option not intended to be (as set forth in the Award
Agreement) or which does not qualify as an incentive stock option within the meaning of Section 422(b) of the Code. 
 (cc)
“Officer” means any person designated by the Board as an officer of the Company. 
 (dd)
“Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan. 

(ee) “Other Stock-Based Award” means an Award denominated in shares of Stock and granted pursuant to
Section 11. 
 (ff) “Ownership Change Event” means the occurrence of any of the following with
respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined
voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or
substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company). 

  
 6 

 (gg) “Parent Corporation” means any present or future
“parent corporation” of the Company, as defined in Section 424(e) of the Code. 
 (hh)
“Participant” means any eligible person who has been granted one or more Awards. 
 (ii)
“Participating Company” means the Company or any Parent Corporation, Subsidiary Corporation or Affiliate. 

(jj) “Participating Company Group” means, at any point in time, the Company and all other entities
collectively which are then Participating Companies. 
 (kk) “Performance Award” means an Award of
Performance Shares or Performance Units. 
 (ll) “Performance Award Formula” means, for any
Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s)
measured as of the end of the applicable Performance Period. 
 (mm) “Performance Goal” means a
performance goal established by the Committee pursuant to Section 10.3. 
 (nn) “Performance
Period” means a period established by the Committee pursuant to Section 10.3 at the end of which one or more Performance Goals are to be measured. 

(oo) “Performance Share” means a right granted to a Participant pursuant to Section 10 to receive a
payment equal to the value of a Performance Share, as determined by the Committee, based upon attainment of applicable Performance Goal(s). 

(pp) “Performance Unit” means a right granted to a Participant pursuant to Section 10 to receive a
payment equal to the value of a Performance Unit, as determined by the Committee, based upon attainment of applicable Performance Goal(s). 

(qq) “Performance-Vesting Award” means an Award granted to a Participant, the vesting or earning of
which is conditioned in whole or in part upon the achievement of one or more performance goals (including, without limitation, Performance Goals established pursuant to Section 10.3), notwithstanding that the vesting or earning of such Award
may also be conditioned upon the continued Service of the Participant. 
 (rr) “Restricted Stock
Award” means an Award of a Restricted Stock Bonus or a Restricted Stock Purchase Right. 
 (ss)
“Restricted Stock Bonus” means Stock granted to a Participant pursuant to Section 8. 

  
 7 

 (tt) “Restricted Stock Purchase Right” means a right
to purchase Stock granted to a Participant pursuant to Section 8. 
 (uu) “Restricted Stock Unit”
means a right granted to a Participant pursuant to Section 9 to receive on a future date or occurrence of a future event a share of Stock or cash in lieu thereof, as determined by the Committee. 

(vv) “Rule 16b-3” means Rule 16b-3 under the Exchange Act, as amended from time to time, or any successor rule or regulation. 

(ww) “SAR” or “Stock Appreciation Right” means a right granted to
a Participant pursuant to Section 7 to receive payment, for each share of Stock subject to such Award, of an amount equal to the excess, if any, of the Fair Market Value of a share of Stock on the date of exercise of the Award over the exercise
price thereof. 
 (xx) “Section 409A” means Section 409A of the
Code. 
 (yy) “Section 409A Deferred Compensation” means compensation
provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A. 
 (zz)
“Securities Act” means the Securities Act of 1933, as amended. 
 (aaa)
“Service” means a Participant’s employment or service with the Participating Company Group, whether as an Employee, a Director or a Consultant. Unless otherwise provided by the Committee, a
Participant’s Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders Service or a change in the Participating Company for which the Participant renders Service, provided that
there is no interruption or termination of the Participant’s Service. Furthermore, a Participant’s Service shall not be deemed to have been interrupted or terminated if the Participant takes any military leave, sick leave, or other bona
fide leave of absence approved by the Company. However, unless otherwise provided by the Committee, if any such leave taken by a Participant exceeds three (3) months, then on the first (1st) day following the end of such three-month period the
Participant’s Service shall be deemed to have terminated, unless the Participant’s right to return to Service is guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or required by
law, an unpaid leave of absence shall not be treated as Service for purposes of determining vesting under the Participant’s Award Agreement. A Participant’s Service shall be deemed to have terminated either upon an actual termination of
Service or upon the business entity for which the Participant performs Service ceasing to be a Participating Company. Subject to the foregoing, the Company, in its discretion, shall determine whether the Participant’s Service has terminated and
the effective date of and reason for such termination. 
 (bbb) “Stock” means the common stock of the
Company, as adjusted from time to time in accordance with Section 4.3. 
 (ccc) “Stock Tender
Exercise” means a Stock Tender Exercise as defined in Section 6.3(b)(ii). 

  
 8 

 (ddd) “Subsidiary Corporation” means any present or
future “subsidiary corporation” of the Company, as defined in Section 424(f) of the Code. 
 (eee) “Ten
Percent Owner” means a Participant who, at the time an Option is granted to the Participant, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company
(other than an Affiliate) within the meaning of Section 422(b)(6) of the Code. 
 (fff) “Time-Vesting
Award” means any Award granted to a Participant, the vesting or earning of which is based solely upon the continued Service of the Participant over a specified period of time. 

(ggg) “Trading Compliance Policy” means the written policy of the Company pertaining to the purchase,
sale, transfer or other disposition of the Company’s equity securities by Directors, Officers, Employees or other service providers who may possess material, nonpublic information regarding the Company or its securities. 

(hhh) “Vesting Conditions” mean those conditions established in accordance with the Plan prior to the
satisfaction of which an Award or shares subject to an Award remain subject to forfeiture or a repurchase option in favor of the Company exercisable for the Participant’s monetary purchase price, if any, for such shares upon the
Participant’s termination of Service or failure of a performance condition to be satisfied. 
 2.2 Construction. Captions and
titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the
singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
 3.
ADMINISTRATION. 
 3.1 Administration by the Committee. The
Plan shall be administered by the Committee. All questions of interpretation of the Plan, of any Award Agreement or of any other form of agreement or other document employed by the Company in the administration of the Plan or of any Award shall be
determined by the Committee, and such determinations shall be final, binding and conclusive upon all persons having an interest in the Plan or such Award, unless fraudulent or made in bad faith. Any and all actions, decisions and determinations
taken or made by the Committee in the exercise of its discretion pursuant to the Plan or Award Agreement or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence) shall be final, binding
and conclusive upon all persons having an interest therein. All expenses incurred in connection with the administration of the Plan shall be paid by the Company. 

3.2 Authority of Officers. Any Officer shall have the authority to act on behalf of the Company with respect to any matter, right,
obligation, determination or election that is the responsibility of or that is allocated to the Company herein, provided that the Officer has apparent authority with respect to such matter, right, obligation, determination or election. To the extent
permitted by applicable law, the Committee may, in its discretion, delegate to a 

  
 9 

 
committee comprised of one or more Officers the authority to grant one or more Awards, without further approval of the Committee, to any Employee, other than a person who, at the time of such
grant, is an Insider, and to exercise such other powers under the Plan as the Committee may determine; provided, however, that (a) the Committee shall fix the maximum number of shares subject to Awards that may be granted by such Officers,
(b) each such Award shall be subject to the terms and conditions of the appropriate standard form of Award Agreement approved by the Board or the Committee and shall conform to the provisions of the Plan, and (c) each such Award shall
conform to such other limits and guidelines as may be established from time to time by the Committee. 
 3.3 Administration with Respect
to Insiders. With respect to participation by Insiders in the Plan, at any time that any class of equity security of the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered in compliance with the
requirements, if any, of Rule 16b-3. 
 3.4 Powers of the Committee. In
addition to any other powers set forth in the Plan and subject to the provisions of the Plan, the Committee shall have the full and final power and authority, in its discretion: 

(a) to determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Stock, units or
monetary value to be subject to each Award; 
 (b) to determine the type of Award granted; 

(c) to determine the Fair Market Value of shares of Stock or other property; 

(d) to determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares acquired
pursuant thereto, including, without limitation, (i) the exercise or purchase price of shares pursuant to any Award, (ii) the method of payment for shares purchased pursuant to any Award, (iii) the method for satisfaction of any tax
withholding obligation arising in connection with any Award, including by the withholding or delivery of shares of Stock, (iv) the timing, terms and conditions of the exercisability or vesting of any Award or any shares acquired pursuant
thereto, (v) the Performance Measures, Performance Period, Performance Award Formula and Performance Goals applicable to any Award and the extent to which such Performance Goals have been attained, (vi) the time of expiration of any Award,
(vii) the effect of any Participant’s termination of Service on any of the foregoing, and (viii) all other terms, conditions and restrictions applicable to any Award or shares acquired pursuant thereto not inconsistent with the terms
of the Plan; 
 (e) to determine whether an Award will be settled in shares of Stock, cash, other property or in any combination thereof;

 (f) to approve one or more forms of Award Agreement; 

  
 10 

 (g) to amend, modify, extend, cancel or renew any Award or to waive any restrictions or
conditions applicable to any Award or any shares acquired pursuant thereto, provided that no such amendment or waiver shall accelerate the vesting of any Award unless the power of the Committee to accelerate the vesting of such Award is expressly
provided by another provision of the Plan; 
 (h) to accelerate, continue, extend or defer the exercisability or vesting of any Award or any
shares acquired pursuant thereto, including with respect to the period following a Participant’s termination of Service; 
 (i) to
prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans or supplements to, or alternative versions of, the Plan, including, without limitation, as the Committee
deems necessary or desirable to comply with the laws of, or to accommodate the tax policy, accounting principles or custom of, foreign jurisdictions whose residents may be granted Awards; and 

(j) to correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award Agreement and to make all other
determinations and take such other actions with respect to the Plan or any Award as the Committee may deem advisable to the extent not inconsistent with the provisions of the Plan or applicable law. 

3.5 Option or SAR Repricing. Without the affirmative vote of holders of a majority of the shares of Stock cast in person or by proxy at
a meeting of the stockholders of the Company at which a quorum representing a majority of all outstanding shares of Stock is present or represented by proxy, the Committee shall not approve a program providing for either (a) the cancellation of
outstanding Options or SARs having exercise prices per share greater than the then Fair Market Value of a share of Stock (“Underwater Awards”) and the grant in substitution therefor of new Options or SARs having a lower
exercise price, Full Value Awards or payments in cash, or (b) the amendment of outstanding Underwater Awards to reduce the exercise price thereof. This Section shall not be construed to apply to (i) “issuing or assuming a stock option
in a transaction to which Section 424(a) applies,” within the meaning of Section 424 of the Code, (ii) adjustments pursuant to the assumption of or substitution for an Option or SAR in a manner that would comply with
Section 409A, or (iii) an adjustment pursuant to Section 4.3. 
 3.6 Indemnification. In addition to such other rights
of indemnification as they may have as members of the Board or the Committee or as officers or employees of the Participating Company Group, to the extent permitted by applicable law, members of the Board or the Committee and any officers or
employees of the Participating Company Group to whom authority to act for the Board, the Committee or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’ fees, actually and
necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with
the Plan, or any right granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any
such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however,
that within sixty (60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the same. 

  
 11 

 4. SHARES SUBJECT TO
PLAN. 
 4.1 Maximum Number of Shares Issuable. Subject to
adjustment as provided in Sections 4.2, 4.2 and 4.3, the maximum aggregate number of shares of Stock that may be issued under the Plan shall be equal to three million five hundred thousand (3,500,000) shares, and such shares shall consist of
authorized but unissued or reacquired shares of Stock or any combination thereof. 
 4.2 Share Counting. If an
outstanding Award for any reason expires or is terminated or canceled without having been exercised or settled in full, or if shares of Stock acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the
Company for an amount not greater than the Participant’s purchase price, the shares of Stock allocable to the terminated portion of such Award or such forfeited or repurchased shares of Stock shall again be available for issuance under the
Plan. Shares of Stock shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an Award that is settled in cash or to the extent that shares are withheld or reacquired by the Company in satisfaction of tax
withholding obligations pursuant to Section 16.2. Upon payment in shares of Stock pursuant to the exercise of an SAR, the number of shares available for issuance under the Plan shall be reduced by the gross number of shares for which the SAR is
exercised. If the exercise price of an Option is paid by tender to the Company, or attestation to the ownership, of shares of Stock owned by the Participant, or by means of a Net Exercise, the number of shares available for issuance under the Plan
shall be reduced by the gross number of shares for which the Option is exercised. Shares purchased in the open market with proceeds from the exercise of Options shall not be added to the limit set forth in Section 4.1. Shares withheld or
reacquired by the Company in satisfaction of tax withholding obligations pursuant to the exercise or settlement of Options or SARs pursuant to Section 16.2 shall not again be available for issuance under the Plan. Shares withheld or reacquired
by the Company in satisfaction of tax withholding obligations pursuant to the vesting or settlement of Full Value Awards pursuant to Section 16.2 shall again become available for issuance under the Plan. 

4.3 Adjustments for Changes in Capital Structure. Subject to any required action by the stockholders of the Company and
the requirements of Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation,
recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination
of shares, exchange of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting regular, periodic cash
dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and kind of shares subject to the Plan and to any outstanding Awards, the Award limits set forth
in Section 5.3, and in the exercise or purchase price per share under any outstanding Award in order to prevent dilution or enlargement of Participants’ rights under the Plan. For purposes of the foregoing, conversion of

  
 12 

 
any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as
the shares that are subject to outstanding Awards are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”),
the Committee may unilaterally amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment, the number of shares subject to, and the exercise or purchase price per share of, the outstanding Awards
shall be adjusted in a fair and equitable manner as determined by the Committee, in its discretion. Any fractional share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number and the exercise or
purchase price per share shall be rounded up to the nearest whole cent. In no event may the exercise or purchase price, if any, under any Award be decreased to an amount less than the par value, if any, of the stock subject to such Award. The
Committee in its discretion, may also make such adjustments in the terms of any Award to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate, including modification of Performance
Goals, Performance Award Formulas and Performance Periods. The adjustments determined by the Committee pursuant to this Section shall be final, binding and conclusive. 

4.4 Assumption or Substitution of Awards. The Committee may, without affecting the number of shares of Stock reserved or available
hereunder, authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition of property or stock, or reorganization upon such terms and conditions as it may deem appropriate, subject to
compliance with Section 409A and any other applicable provisions of the Code. In addition, subject to compliance with applicable laws, and listing requirements, shares available for grant under a stockholder approved plan of an acquired company
(as appropriately adjusted to reflect the transaction) may be used for awards under the Plan to individuals who were not Employees or Directors of the Participating Company Group prior to the transaction and shall not reduce the number of shares
otherwise available for issuance under the Plan. 
 5. ELIGIBILITY, PARTICIPATION AND
AWARD LIMITATIONS. 
 5.1 Persons Eligible for
Awards. Awards may be granted only to Employees, Consultants and Directors. 
 5.2 Participation in the Plan. Awards are granted
solely at the discretion of the Committee. Eligible persons may be granted more than one Award. However, eligibility in accordance with this Section shall not entitle any person to be granted an Award, or, having been granted an Award, to be granted
an additional Award. 
 5.3 Incentive Stock Option Limitations. 

(a) Maximum Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to adjustment as provided in
Section 4.3, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock Options shall not exceed three million five hundred thousand (3,500,000) shares. The maximum aggregate
number of shares of Stock that may be issued under the Plan pursuant to all Awards other than Incentive Stock Options shall be the number of shares determined in accordance with Section 4.1, subject to adjustment as provided in
Sections 4.2, 4.2 and 4.3. 

  
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 (b) Persons Eligible. An Incentive Stock Option may be granted only to a
person who, on the effective date of grant, is an Employee of the Company, a Parent Corporation or a Subsidiary Corporation (each being an “ISO-Qualifying Corporation”).
Any person who is not an Employee of an ISO-Qualifying Corporation on the effective date of the grant of an Option to such person may be granted only a Nonstatutory Stock Option. 

(c) Fair Market Value Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock
plans of the Participating Company Group, including the Plan) become exercisable by a Participant for the first time during any calendar year for stock having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion of
such options which exceeds such amount shall be treated as Nonstatutory Stock Options. For purposes of this Section, options designated as Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair
Market Value of stock shall be determined as of the time the option with respect to such stock is granted. If the Code is amended to provide for a limitation different from that set forth in this Section, such different limitation shall be deemed
incorporated herein effective as of the date and with respect to such Options as required or permitted by such amendment to the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason
of the limitation set forth in this Section, the Participant may designate which portion of such Option the Participant is exercising. In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option
portion of the Option first. Upon exercise of the Option, shares issued pursuant to each such portion shall be separately identified. 
 5.4
Nonemployee Director Award Limit. Notwithstanding any other provision of the Plan to the contrary, the aggregate grant date fair value (computed as of the date of grant in accordance with generally accepted accounting principles in the United
States) of all Awards granted to any Nonemployee Director during any fiscal year of the Company, taken together with any cash compensation paid to such Nonemployee Director during such fiscal year, shall not exceed $250,000. 

5.5 Minimum Vesting. Except with respect to five percent (5%) of the maximum aggregate number of shares of Stock that may be issued
under the Plan, as provided in Section 4, no Award which vests on the basis of the Participant’s continued Service shall vest earlier than one year following the date of grant of such Award; provided, however, that such limitations shall
not preclude the acceleration of vesting of such Award upon the death or disability of the Participant, or in connection with a Change in Control, as determined by the Committee in its discretion. 

  
 14 

 6. STOCK
OPTIONS. 
 Options shall be evidenced by Award Agreements specifying the
number of shares of Stock covered thereby, in such form as the Committee shall establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and
conditions: 
 6.1 Exercise Price. The exercise price for each Option shall be established in the discretion of the Committee;
provided, however, that (a) the exercise price per share shall be not less than the Fair Market Value of a share of Stock on the effective date of grant of the Option and (b) no Incentive Stock Option granted to a Ten Percent Owner shall
have an exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the effective date of grant of the Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a
Nonstatutory Stock Option) may be granted with an exercise price less than the minimum exercise price set forth above if such Option is granted pursuant to an assumption or substitution for another option in a manner that would qualify under the
provisions of Section 409A or Section 424(a) of the Code. 
 6.2 Exercisability and Term of Options. Subject to the minimum
vesting provisions of Section 5.5, Options shall be exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Committee and set
forth in the Award Agreement evidencing such Option; provided, however, that (a) no Option shall be exercisable after the expiration of ten (10) years after the effective date of grant of such Option, (b) no Incentive Stock Option
granted to a Ten Percent Owner shall be exercisable after the expiration of five (5) years after the effective date of grant of such Option and (c) no Option granted to an Employee who is a
non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first exercisable until at least six (6) months following the date of grant of such Option (except in the
event of such Employee’s death, disability or retirement, upon a Change in Control, or as otherwise permitted by the Worker Economic Opportunity Act). Subject to the foregoing, unless otherwise specified by the Committee in the grant of an
Option, each Option shall terminate ten (10) years after the effective date of grant of the Option, unless earlier terminated in accordance with its provisions. 

6.3 Payment of Exercise Price. 

(a) Forms of Consideration Authorized. Except as otherwise provided below, payment of the exercise price for the number of
shares of Stock being purchased pursuant to any Option shall be made (i) in cash, by check or in cash equivalent; (ii) if permitted by the Committee and subject to the limitations contained in Section 6.3(b), by means of (1) a
Cashless Exercise, (2) a Stock Tender Exercise or (3) a Net Exercise; (iii) by such other consideration as may be approved by the Committee from time to time to the extent permitted by applicable law, or (iv) by any combination
thereof. The Committee may at any time or from time to time grant Options which do not permit all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict one or more forms of consideration.

  
 15 

 (b) Limitations on Forms of Consideration. 

(i) Cashless Exercise. A “Cashless Exercise” means the delivery of a properly executed notice of
exercise together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares being acquired upon the exercise of the Option (including, without
limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System). The Company reserves, at any and all times, the right, in the Company’s
sole and absolute discretion, to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless Exercise, including with respect to one or more Participants specified by the Company
notwithstanding that such program or procedures may be available to other Participants. 
 (ii) Stock Tender Exercise. A
“Stock Tender Exercise” means the delivery of a properly executed exercise notice accompanied by a Participant’s tender to the Company, or attestation to the ownership, in a form acceptable to the Company
of whole shares of Stock owned by the Participant having a Fair Market Value that does not exceed the aggregate exercise price for the shares with respect to which the Option is exercised. A Stock Tender Exercise shall not be permitted if it would
constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. If required by the Company, an Option may not be exercised by tender to the Company, or attestation to the
ownership, of shares of Stock unless such shares either have been owned by the Participant for a period of time required by the Company (and not used for another option exercise by attestation during such period) or were not acquired, directly or
indirectly, from the Company. 
 (iii) Net Exercise. A “Net Exercise” means the delivery of a
properly executed exercise notice followed by a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to a Participant upon the exercise of an Option by the largest whole number of shares having a Fair
Market Value that does not exceed the aggregate exercise price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate exercise price not
satisfied by such reduction in the number of whole shares to be issued. 
 6.4 Effect of Termination of Service. 

(a) Option Exercisability. Subject to earlier termination of the Option as otherwise provided by this Plan and unless otherwise
provided by the Committee, an Option shall terminate immediately upon the Participant’s termination of Service to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent it
is then vested only during the applicable time period determined in accordance with this Section and thereafter shall terminate. 
 (i)
Disability. If the Participant’s Service terminates because of the Disability of the Participant, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may
be exercised by the Participant (or the Participant’s guardian or legal representative) at any time prior to the expiration of twelve (12) months (or such longer or shorter period provided by the Award Agreement) after the date on which
the Participant’s Service terminated, but in any event no later than the date of expiration of the Option’s term as set forth in the Award Agreement evidencing such Option (the “Option Expiration
Date”). 

  
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 (ii) Death. If the Participant’s Service terminates because of the death of the
Participant, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant’s legal representative or other person who acquired the
right to exercise the Option by reason of the Participant’s death at any time prior to the expiration of twelve (12) months (or such longer or shorter period provided by the Award Agreement) after the date on which the Participant’s
Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed to have terminated on account of death if the Participant dies within three (3) months (or such longer or shorter
period provided by the Award Agreement) after the Participant’s termination of Service. 
 (iii) Termination for Cause.
Notwithstanding any other provision of the Plan to the contrary, if the Participant’s Service is terminated for Cause or if, following the Participant’s termination of Service and during any period in which the Option otherwise would
remain exercisable, the Participant engages in any act that would constitute Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination of Service or act. 

(iv) Other Termination of Service. If the Participant’s Service terminates for any reason, except Disability, death or Cause, the
Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant at any time prior to the expiration of three (3) months (or such longer or
shorter period provided by the Award Agreement) after the date on which the Participant’s Service terminated, but in any event no later than the Option Expiration Date. 

(b) Extension if Exercise Prevented by Law. Notwithstanding the foregoing, other than termination of Service for Cause, if the
exercise of an Option within the applicable time periods set forth in Section 6.4(a) is prevented by the provisions of Section 14 below, the Option shall remain exercisable until the later of (i) thirty (30) days after the date
such exercise first would no longer be prevented by such provisions or (ii) the end of the applicable time period under Section 6.4(a), but in any event no later than the Option Expiration Date. 

6.5 Transferability of Options. During the lifetime of the Participant, an Option shall be exercisable only by the Participant or the
Participant’s guardian or legal representative. An Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the
Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted by the Committee, in its discretion, and set forth in the Award Agreement evidencing such
Option, an Option shall be assignable or transferable subject to the applicable limitations, if any, described in the General Instructions to Form S-8 under the Securities Act or, in the case of an
Incentive Stock Option, only as permitted by applicable regulations under Section 421 of the Code in a manner that does not disqualify such Option as an Incentive Stock Option. An Option may not be transferred to a third-party financial
institution for value without the approval of the stockholders. 

  
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 7. STOCK APPRECIATION
RIGHTS. 
 Stock Appreciation Rights shall be evidenced by Award
Agreements specifying the number of shares of Stock subject to the Award, in such form as the Committee shall establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to
the following terms and conditions: 
 7.1 Types of SARs Authorized. SARs may be granted in tandem with all or any portion of a
related Option (a “Tandem SAR”) or may be granted independently of any Option (a “Freestanding SAR”). A Tandem SAR may only be granted concurrently with the grant of the
related Option. 
 7.2 Exercise Price. The exercise price for each SAR shall be established in the discretion of the Committee;
provided, however, that (a) the exercise price per share subject to a Tandem SAR shall be the exercise price per share under the related Option and (b) the exercise price per share subject to a Freestanding SAR shall be not less than the
Fair Market Value of a share of Stock on the effective date of grant of the SAR. Notwithstanding the foregoing, an SAR may be granted with an exercise price lower than the minimum exercise price set forth above if such SAR is granted pursuant to an
assumption or substitution for another stock appreciation right in a manner that would qualify under the provisions of Section 409A of the Code. 

7.3 Exercisability and Term of SARs. 

(a) Tandem SARs. Tandem SARs shall be exercisable only at the time and to the extent, and only to the extent, that the related
Option is exercisable, subject to such provisions as the Committee may specify where the Tandem SAR is granted with respect to less than the full number of shares of Stock subject to the related Option. The Committee may, in its discretion, provide
in any Award Agreement evidencing a Tandem SAR that such SAR may not be exercised without the advance approval of the Company and, if such approval is not given, then the Option shall nevertheless remain exercisable in accordance with its terms. A
Tandem SAR shall terminate and cease to be exercisable no later than the date on which the related Option expires or is terminated or canceled. Upon the exercise of a Tandem SAR with respect to some or all of the shares subject to such SAR, the
related Option shall be canceled automatically as to the number of shares with respect to which the Tandem SAR was exercised. Upon the exercise of an Option related to a Tandem SAR as to some or all of the shares subject to such Option, the related
Tandem SAR shall be canceled automatically as to the number of shares with respect to which the related Option was exercised. 
 (b)
Freestanding SARs. Subject to the minimum vesting provisions of Section 5.5, Freestanding SARs shall be exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria
and restrictions as shall be determined by the Committee and set forth in the Award Agreement evidencing such SAR; provided, however, that (i) no Freestanding SAR shall be exercisable after the expiration of ten (10) years after the
effective date of grant of such SAR and (ii) no Freestanding SAR granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first
exercisable until at least six (6) months following the date of grant of such SAR (except in the event of such Employee’s death, disability or retirement, upon a Change in Control, or as otherwise permitted by the Worker Economic
Opportunity Act). Subject to the foregoing, unless otherwise specified by the Committee in the grant of a Freestanding SAR, each Freestanding SAR shall terminate ten (10) years after the effective date of grant of the SAR, unless earlier
terminated in accordance with its provisions. 

  
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 7.4 Exercise of SARs. Upon the exercise (or deemed exercise pursuant to
Section 7.5) of an SAR, the Participant (or the Participant’s legal representative or other person who acquired the right to exercise the SAR by reason of the Participant’s death) shall be entitled to receive payment of an amount for
each share with respect to which the SAR is exercised equal to the excess, if any, of the Fair Market Value of a share of Stock on the date of exercise of the SAR over the exercise price. Payment of such amount shall be made (a) in the case of
a Tandem SAR, solely in shares of Stock in a lump sum upon the date of exercise of the SAR and (b) in the case of a Freestanding SAR, in cash, shares of Stock, or any combination thereof as determined by the Committee, in a lump sum upon the
date of exercise of the SAR. When payment is to be made in shares of Stock, the number of shares to be issued shall be determined on the basis of the Fair Market Value of a share of Stock on the date of exercise of the SAR. For purposes of
Section 7, an SAR shall be deemed exercised on the date on which the Company receives notice of exercise from the Participant or as otherwise provided in Section 7.5. 

7.5 Deemed Exercise of SARs. If, on the date on which an SAR would otherwise terminate or expire, the SAR by its terms remains
exercisable immediately prior to such termination or expiration and, if so exercised, would result in a payment to the holder of such SAR, then any portion of such SAR which has not previously been exercised shall automatically be deemed to be
exercised as of such date with respect to such portion. 
 7.6 Effect of Termination of Service. Subject to earlier termination of the
SAR as otherwise provided herein and unless otherwise provided by the Committee, an SAR shall be exercisable after a Participant’s termination of Service only to the extent and during the applicable time period determined in accordance with
Section 6.4 (treating the SAR as if it were an Option) and thereafter shall terminate. 
 7.7 Transferability of SARs. During the
lifetime of the Participant, an SAR shall be exercisable only by the Participant or the Participant’s guardian or legal representative. An SAR shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment,
pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted by the Committee,
in its discretion, and set forth in the Award Agreement evidencing such Award, a Tandem SAR related to a Nonstatutory Stock Option or a Freestanding SAR shall be assignable or transferable subject to the applicable limitations, if any, described in
the General Instructions to Form S-8 under the Securities Act. 

  
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 8. RESTRICTED STOCK
AWARDS. 
 Restricted Stock Awards shall be evidenced by Award Agreements
specifying whether the Award is a Restricted Stock Bonus or a Restricted Stock Purchase Right and the number of shares of Stock subject to the Award, in such form as the Committee shall establish. Such Award Agreements may incorporate all or any of
the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions: 
 8.1 Types of Restricted
Stock Awards Authorized. Restricted Stock Awards may be granted in the form of either a Restricted Stock Bonus or a Restricted Stock Purchase Right. Restricted Stock Awards may be granted upon such conditions as the Committee shall
determine, including, without limitation, upon the attainment of one or more Performance Goals described in Section 10.4. If either the grant of or satisfaction of Vesting Conditions applicable to a Restricted Stock Award is to be contingent
upon the attainment of one or more Performance Goals, the Committee shall follow procedures substantially equivalent to those set forth in Sections 10.3 through 10.5(a). 

8.2 Purchase Price. The purchase price for shares of Stock issuable under each Restricted Stock Purchase Right shall be
established by the Committee in its discretion. No monetary payment (other than applicable tax withholding) shall be required as a condition of receiving shares of Stock pursuant to a Restricted Stock Bonus, the consideration for which shall be
services actually rendered to a Participating Company or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish consideration in the form of cash or past services rendered to a
Participating Company or for its benefit having a value not less than the par value of the shares of Stock subject to a Restricted Stock Award. 

8.3 Purchase Period. A Restricted Stock Purchase Right shall be exercisable within a period established by the Committee, which
shall in no event exceed thirty (30) days from the effective date of the grant of the Restricted Stock Purchase Right. 
 8.4 Payment
of Purchase Price. Except as otherwise provided below, payment of the purchase price for the number of shares of Stock being purchased pursuant to any Restricted Stock Purchase Right shall be made (a) in cash, by check or in cash
equivalent, (b) by such other consideration as may be approved by the Committee from time to time to the extent permitted by applicable law, or (c) by any combination thereof. 

8.5 Vesting and Restrictions on Transfer. Subject to the minimum vesting provisions of Section 5.5, Shares issued pursuant
to any Restricted Stock Award may (but need not) be made subject to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance criteria, including, without limitation, Performance Goals as
described in Section 10.4, as shall be established by the Committee and set forth in the Award Agreement evidencing such Award. During any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting
Conditions, such shares may not be sold, exchanged, transferred, pledged, assigned or otherwise disposed of other than pursuant to an Ownership Change Event or as provided in Section 8.8. The Committee, in its discretion, may provide in any
Award Agreement evidencing a Restricted Stock Award that, if the satisfaction of Vesting Conditions with respect to any shares subject to such Restricted Stock Award would otherwise occur on a day on which the sale of such shares would violate the
provisions of the Trading Compliance Policy, then satisfaction of the Vesting Conditions automatically shall be determined on the next trading day on which the sale of such shares would not violate the Trading Compliance Policy. Upon request by the
Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares of Stock acquired
hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions. 

  
 20 

 8.6 Voting Rights; Dividends and Distributions. Except as provided in this Section,
Section 8.5 and any Award Agreement, during any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, the Participant shall have all of the rights of a stockholder of the Company holding
shares of Stock, including the right to vote such shares and to receive all dividends and other distributions paid with respect to such shares; provided, however, that if so determined by the Committee and provided by the Award Agreement, such
dividends and distributions shall be subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with respect to which such dividends or distributions were paid, and otherwise shall be paid no later than the end of the
calendar year in which such dividends or distributions are paid to stockholders (or, if later, the 15th day of the third month following the date such dividends or distributions are paid to stockholders). In the event of a dividend or distribution
paid in shares of Stock or other property or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.3, any and all new, substituted or additional securities or other property (other than
regular, periodic cash dividends) to which the Participant is entitled by reason of the Participant’s Restricted Stock Award shall be immediately subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with
respect to which such dividends or distributions were paid or adjustments were made. 
 8.7 Effect of Termination of Service.
If a Participant’s Service terminates for any reason, whether voluntary or involuntary (other than upon the Participant’s death or disability or in connection with a Change in Control if so provided by the Committee), then (a) the
Company shall have the option to repurchase for the purchase price paid by the Participant any shares acquired by the Participant pursuant to a Restricted Stock Purchase Right which remain subject to Vesting Conditions as of the date of the
Participant’s termination of Service and (b) the Participant shall forfeit to the Company any shares acquired by the Participant pursuant to a Restricted Stock Bonus which remain subject to Vesting Conditions as of the date of the
Participant’s termination of Service. The Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company. 

8.8 Nontransferability of Restricted Stock Award Rights. Rights to acquire shares of Stock pursuant to a Restricted
Stock Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or
the laws of descent and distribution. All rights with respect to a Restricted Stock Award granted to a Participant hereunder shall be exercisable during his or her lifetime only by such Participant or the Participant’s guardian or legal
representative. 

  
 21 

 9. RESTRICTED STOCK
UNITS. 
 Restricted Stock Unit Awards shall be evidenced by Award
Agreements specifying the number of Restricted Stock Units subject to the Award, in such form as the Committee shall establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be
subject to the following terms and conditions: 
 9.1 Grant of Restricted Stock Unit Awards. Restricted Stock Unit Awards may be
granted upon such conditions as the Committee shall determine, including, without limitation, upon the attainment of one or more Performance Goals described in Section 10.4. If either the grant of a Restricted Stock Unit Award or the Vesting
Conditions with respect to such Award is to be contingent upon the attainment of one or more Performance Goals, the Committee shall follow procedures substantially equivalent to those set forth in Sections 10.3 through 10.5(a). 

9.2 Purchase Price. No monetary payment (other than applicable tax withholding, if any) shall be required as a condition of receiving a
Restricted Stock Unit Award, the consideration for which shall be services actually rendered to a Participating Company or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish
consideration in the form of cash or past services rendered to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued upon settlement of the Restricted Stock Unit Award. 

9.3 Vesting. Subject to the minimum vesting provisions of Section 5.5, Restricted Stock Unit Awards may (but need not) be made
subject to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance criteria, including, without limitation, Performance Goals as described in Section 10.4, as shall be established by
the Committee and set forth in the Award Agreement evidencing such Award. 
 9.4 Voting Rights, Dividend Equivalent Rights and
Distributions. Participants shall have no voting or dividend rights with respect to shares of Stock represented by Restricted Stock Units until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company). However, the Committee, in its discretion, may provide in the Award Agreement evidencing any Restricted Stock Unit Award that the Participant shall be entitled to Dividend Equivalent
Rights with respect to the payment of cash dividends on Stock during the period beginning on the date such Award is granted and ending, with respect to each share subject to the Award, on the earlier of the date the Award is settled or the date on
which it is terminated. Dividend Equivalent Rights, if any, shall be paid by crediting the Participant with a cash amount or with additional whole Restricted Stock Units as of the date of payment of such cash dividends on Stock, as determined by the
Committee. The number of additional Restricted Stock Units (rounded to the nearest whole number), if any, to be credited shall be determined by dividing (a) the amount of cash dividends paid on the dividend payment date with respect to the
number of shares of Stock represented by the Restricted Stock Units previously credited to the Participant by (b) the Fair Market Value per share of Stock on such date. If so determined by the Committee and provided by the Award Agreement, such
cash amount or additional Restricted Stock Units shall be subject to the same terms and conditions and shall be settled in the same manner and at the same time as 

  
 22 

 
the Restricted Stock Units originally subject to the Restricted Stock Unit Award. In the event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made
upon a change in the capital structure of the Company as described in Section 4.3, appropriate adjustments shall be made in the Participant’s Restricted Stock Unit Award so that it represents the right to receive upon settlement any and
all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which the Participant would be entitled by reason of the shares of Stock issuable upon settlement of the Award, and all such new,
substituted or additional securities or other property shall be immediately subject to the same Vesting Conditions as are applicable to the Award. 

9.5 Effect of Termination of Service. If a Participant’s Service terminates for any reason, whether voluntary or involuntary (other
than upon the Participant’s death or disability or in connection with a Change in Control if so provided by the Committee), then the Participant shall forfeit to the Company any Restricted Stock Units pursuant to the Award which remain subject
to Vesting Conditions as of the date of the Participant’s termination of Service. 
 9.6 Settlement of Restricted Stock Unit
Awards. The Company shall issue to a Participant on the date on which Restricted Stock Units subject to the Participant’s Restricted Stock Unit Award vest or on such other date determined by the Committee in compliance with
Section 409A, if applicable, and set forth in the Award Agreement one (1) share of Stock (and/or any other new, substituted or additional securities or other property pursuant to an adjustment described in Section 9.4) for each
Restricted Stock Unit then becoming vested or otherwise to be settled on such date, subject to the withholding of applicable taxes, if any. The Committee, in its discretion, may provide in any Award Agreement evidencing a Restricted Stock Unit Award
that if the settlement date with respect to any shares issuable upon vesting of Restricted Stock Units would otherwise occur on a day on which the sale of such shares would violate the provisions of the Trading Compliance Policy, then the settlement
date shall be deferred until the next trading day on which the sale of such shares would not violate the Trading Compliance Policy but in any event no later than the 15th day of the third calendar
month following the year in which such Restricted Stock Units vest. If permitted by the Committee, the Participant may elect, consistent with the requirements of Section 409A, to defer receipt of all or any portion of the shares of Stock or
other property otherwise issuable to the Participant pursuant to this Section, and such deferred issuance date(s) and amount(s) elected by the Participant shall be set forth in the Award Agreement. Notwithstanding the foregoing, the Committee, in
its discretion, may provide for settlement of any Restricted Stock Unit Award by payment to the Participant in cash of an amount equal to the Fair Market Value on the payment date of the shares of Stock or other property otherwise issuable to the
Participant pursuant to this Section. 
 9.7 Nontransferability of Restricted Stock Unit Awards. The right to receive shares pursuant
to a Restricted Stock Unit Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except
transfer by will or by the laws of descent and distribution. All rights with respect to a Restricted Stock Unit Award granted to a Participant hereunder shall be exercisable during his or her lifetime only by such Participant or the
Participant’s guardian or legal representative. 

  
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 10. PERFORMANCE
AWARDS. 
 Performance Awards shall be evidenced by Award Agreements in
such form as the Committee shall establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions: 

10.1 Types of Performance Awards Authorized. Performance Awards may be granted in the form of either Performance Shares or Performance
Units. Each Award Agreement evidencing a Performance Award shall specify the number of Performance Shares or Performance Units subject thereto, the Performance Award Formula, the Performance Goal(s) and Performance Period applicable to the Award,
and the other terms, conditions and restrictions of the Award. 
 10.2 Initial Value of Performance Shares and Performance Units.
Unless otherwise provided by the Committee in granting a Performance Award, each Performance Share shall have an initial monetary value equal to the Fair Market Value of one (1) share of Stock, subject to adjustment as provided in
Section 4.3, on the effective date of grant of the Performance Share, and each Performance Unit shall have an initial monetary value established by the Committee at the time of grant. The final value payable to the Participant in settlement of
a Performance Award determined on the basis of the applicable Performance Award Formula will depend on the extent to which Performance Goals established by the Committee are attained within the applicable Performance Period established by the
Committee. 
 10.3 Establishment of Performance Period, Performance Goals and Performance Award Formula. In granting each Performance
Award, the Committee shall establish in writing the applicable Performance Period (subject to the minimum vesting provisions of Section 5.5), Performance Award Formula and one or more Performance Goals which, when measured at the end of the
Performance Period, shall determine on the basis of the Performance Award Formula the final value of the Performance Award to be paid to the Participant. The Company shall notify each Participant granted a Performance Award of the terms of such
Award, including the Performance Period, Performance Goal(s) and Performance Award Formula. 
 10.4 Measurement of Performance Goals.
Performance Goals shall be established by the Committee on the basis of targets to be attained (“Performance Targets”) with respect to one or more measures of business or financial performance or other criteria
established by the Committee (each, a “Performance Measure”), subject to the following: 
 (a)
Performance Measures. Performance Measures based on objective criteria shall be calculated in accordance with the Company’s financial statements, or, if such measures are not reported in the Company’s financial statements,
they shall be calculated in accordance with generally accepted accounting principles, a method used generally in the Company’s industry, or in accordance with a methodology established by the Committee prior to the grant of the Performance
Award. Performance Measures based on subjective criteria shall be determined on the basis established by the Committee in granting the Award. As specified by the Committee, Performance Measures may be calculated with respect to the Company and each

  
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Subsidiary Corporation consolidated therewith for financial reporting purposes, one or more Subsidiary Corporations or such division or other business unit of any of them selected by the
Committee. Unless otherwise determined by the Committee prior to the grant of the Performance Award, the Performance Measures applicable to the Performance Award shall be calculated prior to the accrual of expense for any Performance Award for the
same Performance Period and excluding the effect (whether positive or negative) on the Performance Measures of any change in accounting standards or any unusual or infrequently occurring event or transaction, as determined by the Committee,
occurring after the establishment of the Performance Goals applicable to the Performance Award. Each such adjustment, if any, shall be made solely for the purpose of providing a consistent basis from period to period for the calculation of
Performance Measures in order to prevent the dilution or enlargement of the Participant’s rights with respect to a Performance Award. Performance Measures may be based upon one or more of the following, without limitation, as determined by the
Committee: 
 (i) revenue; 

(ii) sales; 
 (iii) expenses;

 (iv) operating income; 

(v) gross margin; 
 (vi)
operating margin; 
 (vii) earnings before any one or more of: stock-based compensation expense, interest, taxes, depreciation and
amortization; 
 (viii) pre-tax profit; 

(ix) net operating income; 
 (x)
net income; 
 (xi) economic value added; 

(xii) free cash flow; 
 (xiii)
operating cash flow; 
 (xiv) balance of cash, cash equivalents and marketable securities; 

(xv) stock price; 
 (xvi)
earnings per share; 
 (xvii) return on stockholder equity; 

  
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 (xviii) return on capital; 

(xix) return on assets; 
 (xx)
return on investment; 
 (xxi) total stockholder return; 

(xxii) employee satisfaction; 

(xxiii) employee retention; 

(xxiv) market share; 
 (xxv)
customer satisfaction; 
 (xxvi) product development; 

(xxvii) research and development expenses; 

(xxviii) completion of an identified special project; 

(xxix) completion of a joint venture or other corporate transaction and 

(xxx) personal performance objectives established for an individual Participant or group of Participants. 

(b) Performance Targets. Performance Targets may include a minimum, maximum, target level and intermediate levels of
performance, with the final value of a Performance Award determined under the applicable Performance Award Formula by the Performance Target level attained during the applicable Performance Period. A Performance Target may be stated as an absolute
value, an increase or decrease in a value, or as a value determined relative to an index, budget or other standard selected by the Committee. 

10.5 Settlement of Performance Awards. 

(a) Determination of Final Value. As soon as practicable following the completion of the Performance Period applicable to a
Performance Award, the Committee shall determine the extent to which the applicable Performance Goals have been attained and the resulting final value of the Award earned by the Participant and to be paid upon its settlement in accordance with the
applicable Performance Award Formula. 
 (b) Discretionary Adjustment of Award Formula. In its discretion, the Committee may,
either at the time it grants a Performance Award or at any time thereafter, provide for the positive or negative adjustment of the Performance Award Formula applicable to a Performance Award to reflect such Participant’s individual performance
in his or her position with the Company or such other factors as the Committee may determine. 

  
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 (c) Effect of Leaves of Absence. Unless otherwise required by law or a
Participant’s Award Agreement, payment of the final value, if any, of a Performance Award held by a Participant who has taken in excess of thirty (30) days in unpaid leaves of absence during a Performance Period shall be prorated on the
basis of the number of days of the Participant’s Service during the Performance Period during which the Participant was not on an unpaid leave of absence. 

(d) Notice to Participants. As soon as practicable following the Committee’s determination in accordance with
Sections 10.5(a) and (b), the Company shall notify each Participant of the determination of the Committee. 
 (e) Payment in
Settlement of Performance Awards. As soon as practicable following the Committee’s determination in accordance with Sections 10.5(a) and (b), but in any event within the Short-Term Deferral Period described in Section 15.1
(except as otherwise provided below or consistent with the requirements of Section 409A), payment shall be made to each eligible Participant (or such Participant’s legal representative or other person who acquired the right to receive such
payment by reason of the Participant’s death) of the final value of the Participant’s Performance Award. Payment of such amount shall be made in cash, shares of Stock, or a combination thereof as determined by the Committee. Unless
otherwise provided in the Award Agreement evidencing a Performance Award, payment shall be made in a lump sum. If permitted by the Committee, the Participant may elect, consistent with the requirements of Section 409A, to defer receipt of all
or any portion of the payment to be made to the Participant pursuant to this Section, and such deferred payment date(s) elected by the Participant shall be set forth in the Award Agreement. If any payment is to be made on a deferred basis, the
Committee may, but shall not be obligated to, provide for the payment during the deferral period of Dividend Equivalent Rights or interest. 

(f) Provisions Applicable to Payment in Shares. If payment is to be made in shares of Stock, the number of such shares shall be
determined by dividing the final value of the Performance Award by the Fair Market Value of a share of Stock determined by the method specified in the Award Agreement. Shares of Stock issued in payment of any Performance Award may be fully vested
and freely transferable shares or may be shares of Stock subject to Vesting Conditions as provided in Section 8.5. Any shares subject to Vesting Conditions shall be evidenced by an appropriate Award Agreement and shall be subject to the
provisions of Sections 8.5 through 8.8 above. 
 10.6 Voting Rights; Dividend Equivalent Rights and Distributions. Participants
shall have no voting or dividend rights with respect to shares of Stock represented by Performance Share Awards until the date of the issuance of such shares, if any (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company). However, the Committee, in its discretion, may provide in the Award Agreement evidencing any Performance Share Award that the Participant shall be entitled to Dividend Equivalent Rights with respect to the
payment of cash dividends on Stock during the period beginning on the date the Award is granted and ending, with respect to each share subject to the Award, on the earlier of the date on which the Performance Shares are settled or the date on which
they are forfeited. Such Dividend Equivalent Rights, if any, shall be credited to the Participant either in cash or in the form of additional whole Performance Shares as of the date of 

  
 27 

 
payment of such cash dividends on Stock, as determined by the Committee. The number of additional Performance Shares (rounded to the nearest whole number), if any, to be so credited shall be
determined by dividing (a) the amount of cash dividends paid on the dividend payment date with respect to the number of shares of Stock represented by the Performance Shares previously credited to the Participant by (b) the Fair Market
Value per share of Stock on such date. Dividend Equivalent Rights, if any, shall be accumulated and paid to the extent that the related Performance Shares become nonforfeitable. Settlement of Dividend Equivalent Rights may be made in cash, shares of
Stock, or a combination thereof as determined by the Committee, and may be paid on the same basis as settlement of the related Performance Share as provided in Section 10.5. Dividend Equivalent Rights shall not be paid with respect to
Performance Units. In the event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.3, appropriate adjustments
shall be made in the Participant’s Performance Share Award so that it represents the right to receive upon settlement any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which
the Participant would be entitled by reason of the shares of Stock issuable upon settlement of the Performance Share Award, and all such new, substituted or additional securities or other property shall be immediately subject to the same Performance
Goals as are applicable to the Award. 
 10.7 Effect of Termination of Service. Unless otherwise provided by the Committee and set
forth in the Award Agreement evidencing a Performance Award, the effect of a Participant’s termination of Service on the Performance Award shall be as follows: 

(a) Death or Disability. If the Participant’s Service terminates because of the death or Disability of the Participant
before the completion of the Performance Period applicable to the Performance Award, the final value of the Participant’s Performance Award shall be determined by the extent to which the applicable Performance Goals have been attained with
respect to the entire Performance Period and shall be prorated based on the number of months of the Participant’s Service during the Performance Period. Payment shall be made following the end of the Performance Period in any manner permitted
by Section 10.5. 
 (b) Other Termination of Service. If the Participant’s Service terminates for any reason except
death or Disability before the completion of the Performance Period applicable to the Performance Award, such Award shall be forfeited in its entirety; provided, however, that in the event of an involuntary termination of the Participant’s
Service, the Committee, in its discretion, may waive the automatic forfeiture of all or any portion of any such Award and determine the final value of the Performance Award in the manner provided by Section 10.7(a). Payment of any amount
pursuant to this Section shall be made following the end of the Performance Period in any manner permitted by Section 10.5. 
 10.8
Nontransferability of Performance Awards. Prior to settlement in accordance with the provisions of the Plan, no Performance Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge,
encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution. All rights with respect to a Performance Award granted to a Participant hereunder
shall be exercisable during his or her lifetime only by such Participant or the Participant’s guardian or legal representative. 

  
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 11. CASH-BASED AWARDS AND
OTHER STOCK-BASED AWARDS. 

Cash-Based Awards and Other Stock-Based Awards shall be evidenced by Award Agreements in such form as the Committee shall establish. Such Award
Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions: 

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

11.2 Grant of Other Stock-Based Awards. The Committee may grant other types of equity-based or equity-related Awards not otherwise
described by the terms of this Plan (including the grant or offer for sale of unrestricted securities, stock-equivalent units, stock appreciation units, securities or debentures convertible into common stock or other forms determined by the
Committee) in such amounts and subject to such terms and conditions as the Committee shall determine. Other Stock-Based Awards may be made available as a form of payment in the settlement of other Awards or as payment in lieu of compensation to
which a Participant is otherwise entitled. Other Stock-Based Awards may involve the transfer of actual shares of Stock to Participants, or payment in cash or otherwise of amounts based on the value of Stock 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. 
 11.3 Value
of Cash-Based and Other Stock-Based Awards. Each Cash-Based Award shall specify a monetary payment amount or payment range as determined by the Committee. Each Other Stock-Based Award shall be expressed in terms of shares of Stock or units based
on such shares of Stock, as determined by the Committee. Subject to the minimum vesting provisions of Section 5.5, the Committee may require the satisfaction of such Service requirements, conditions, restrictions or performance criteria,
including, without limitation, Performance Goals as described in Section 10.4, as shall be established by the Committee and set forth in the Award Agreement evidencing such Award. If the Committee exercises its discretion to establish
performance criteria, the final value of Cash-Based Awards or Other Stock-Based Awards that will be paid to the Participant will depend on the extent to which the performance criteria are met. 

11.4 Payment or Settlement of Cash-Based Awards and Other Stock-Based Awards. Payment or settlement, if any, with respect to a
Cash-Based Award or an Other Stock-Based Award shall be made in accordance with the terms of the Award, in cash, shares of Stock or other securities or any combination thereof as the Committee determines. To the extent applicable, payment or
settlement with respect to each Cash-Based Award and Other Stock-Based Award shall be made in compliance with the requirements of Section 409A. 

  
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 11.5 Voting Rights; Dividend Equivalent Rights and Distributions. Participants shall
have no voting or dividend rights with respect to shares of Stock represented by Other Stock-Based Awards until the date of the issuance of such shares of Stock (as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), if any, in settlement of such Award. However, the Committee, in its discretion, may provide in the Award Agreement evidencing any Other Stock-Based Award that the Participant shall be entitled to Dividend
Equivalent Rights with respect to the payment of cash dividends on Stock during the period beginning on the date such Award is granted and ending, with respect to each share subject to the Award, on the earlier of the date the Award is settled or
the date on which it is terminated. Such Dividend Equivalent Rights, if any, shall be paid in accordance with the provisions set forth in Section 9.4. Dividend Equivalent Rights shall not be granted with respect to Cash-Based Awards. In the
event of a dividend or distribution paid in shares of Stock or other property or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.3, appropriate adjustments shall be made in the
Participant’s Other Stock-Based Award so that it represents the right to receive upon settlement any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends) to which the Participant
would be entitled by reason of the shares of Stock issuable upon settlement of such Award, and all such new, substituted or additional securities or other property shall be immediately subject to the same Vesting Conditions and performance criteria,
if any, as are applicable to the Award. 
 11.6 Effect of Termination of Service. Each Award Agreement evidencing a Cash-Based Award
or Other Stock-Based Award shall set forth the extent to which the Participant shall have the right to retain such Award following termination of the Participant’s Service. Such provisions shall be determined in the discretion of the Committee,
need not be uniform among all Cash-Based Awards or Other Stock-Based Awards, and may reflect distinctions based on the reasons for termination, subject to the requirements of Section 409A, if applicable. 

11.7 Nontransferability of Cash-Based Awards and Other Stock-Based Awards. Prior to the payment or settlement of a Cash-Based Award or
Other Stock-Based Award, the Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary,
except transfer by will or by the laws of descent and distribution. The Committee may impose such additional restrictions on any shares of Stock issued in settlement of Cash-Based Awards and Other Stock-Based Awards as it may deem advisable,
including, without limitation, minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such shares of Stock are then listed and/or traded, or under
any state securities laws or foreign law applicable to such shares of Stock. 
 12. STANDARD FORMS
OF AWARD AGREEMENT. 
 12.1 Award
Agreements. Each Award shall comply with and be subject to the terms and conditions set forth in the appropriate form of Award Agreement approved by the Committee and as amended from time to time. No Award or purported Award shall
be a valid and binding obligation of the Company unless evidenced by a fully executed Award Agreement, which execution may be evidenced by electronic means. 

  
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 12.2 Authority to Vary Terms. The Committee shall have the authority
from time to time to vary the terms of any standard form of Award Agreement either in connection with the grant or amendment of an individual Award or in connection with the authorization of a new standard form or forms; provided, however, that the
terms and conditions of any such new, revised or amended standard form or forms of Award Agreement are not inconsistent with the terms of the Plan. 

13. CHANGE IN CONTROL. 

13.1 Effect of Change in Control on Awards. In the event of a Change in Control, outstanding Awards shall be subject to the definitive
agreement entered into by the Company in connection with the Change in Control. Subject to the requirements and limitations of Section 409A, if applicable, the Committee may provide pursuant to such agreement for any one or more of the
following: 
 (a) Assumption, Continuation or Substitution. In the event of a Change in Control, the surviving, continuing,
successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may, without the consent of any Participant, assume or continue the Company’s rights and
obligations under each or any Award or portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such outstanding Award or portion thereof a substantially equivalent award with respect to the
Acquiror’s stock, as applicable. For purposes of this Section, if so determined by the Committee in its discretion, an Award denominated in shares of Stock shall be deemed assumed if, following the Change in Control, the Award confers the right
to receive, subject to the terms and conditions of the Plan and the applicable Award Agreement, for each share of Stock subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or
property or a combination thereof) to which a holder of a share of Stock on the effective date of the Change in Control was entitled (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a
majority of the outstanding shares of Stock); provided, however, that if such consideration is not solely common stock of the Acquiror, the Committee may, with the consent of the Acquiror, provide for the consideration to be received upon the
exercise or settlement of the Award, for each share of Stock subject to the Award, to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change in
Control. Any Award or portion thereof which is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised or settled as of the time of consummation of the Change in Control shall terminate and cease to be
outstanding effective as of the time of consummation of the Change in Control. 
 (b) Cash-Out
of Outstanding Stock-Based Awards. The Committee may, in its discretion and without the consent of any Participant, determine that, upon the occurrence of a Change in Control, each or any Award denominated in shares of Stock or portion
thereof outstanding immediately prior to the Change in Control and not previously exercised or settled shall be canceled in exchange for a payment with respect to each vested share of Stock subject to such canceled Award in (i) cash,
(ii) stock of the Company or of a corporation or other business entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair Market Value of
the consideration to be paid per share of Stock in the Change in Control, reduced (but not below zero) by the exercise or purchase price per share, if any, under such Award. In the event such 

  
 31 

 
determination is made by the Committee, an Award having an exercise or purchase price per share equal to or greater than the Fair Market Value of the consideration to be paid per share of Stock
in the Change in Control may be canceled without payment of consideration to the holder thereof. Payment pursuant to this Section (reduced by applicable withholding taxes, if any) shall be made to Participants in respect of the vested portions of
their canceled Awards as soon as practicable following the date of the Change in Control. 
 (c) Accelerated Vesting of Time-Vesting
Awards. The Committee may, in its discretion, provide that if either: 
 (i) the Acquiror will not assume or continue the
Time-Vesting Award or substitute a substantially equivalent award pursuant to Section 13.1(b), in each case for equity securities of the Acquiror which are or promptly will be registered under the Securities Act and tradable on an established
United States securities exchange, or 
 (ii) the Acquiror has so assumed, continued or substituted for the Time-Vesting Award, but the
Participant’s Service terminates as a result of Involuntary Termination, 
 then the exercisability, vesting and/or settlement of the Time-Vesting Award
and shares acquired pursuant thereto will accelerate in full or in part to such extent as the Committee determines. 
 (d) Accelerated
or Pro Rata Settlement of Performance-Vesting Awards. The Committee may, in its discretion, provide that if either: 
 (i) the
Acquiror will not assume or continue the Performance-Vesting Award or substitute a substantially equivalent award pursuant to Section 13.1(b), in each case for equity securities of the Acquiror which are or promptly will be registered under the
Securities Act and tradable on an established United States securities exchange, or 
 (ii) the Acquiror has so assumed, continued or
substituted for the Performance-Vesting Award, but the Participant’s Service terminates as a result of Involuntary Termination, 
 then the
exercisability, vesting and/or settlement of the Performance-Vesting Award and shares acquired pursuant thereto will be determined, as specified by the Committee, either (A) based upon the actual achievement of the applicable performance
goals(s) under the terms of the Performance-Vesting Award through the date of the Change in Control or the Involuntary Termination, as applicable or (B) to such extent as would occur under the terms of the Performance-Vesting Award had 100% of
the target level of the applicable performance goals(s) been achieved but with the result prorated based on the period of the Participant’s actual Service during the applicable full performance period. 

13.2 Effect of Change in Control on Nonemployee Director Awards. Subject to the requirements and limitations of Section 409A, if
applicable, including as provided by Section 15.4(f), in the event of a Change in Control, each outstanding Nonemployee Director Award shall become immediately exercisable and vested in full and, except to the extent assumed, continued or
substituted for pursuant to Section 13.1(b), shall be settled effective immediately prior to the time of consummation of the Change in Control. 

  
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 13.3 Federal Excise Tax Under Section 4999 of the
Code. 
 (a) Excess Parachute Payment. If any acceleration of vesting pursuant to an Award and any other payment or
benefit received or to be received by a Participant would subject the Participant to any excise tax pursuant to Section 4999 of the Code due to the characterization of such acceleration of vesting, payment or benefit as an “excess
parachute payment” under Section 280G of the Code, then, provided such election would not subject the Participant to taxation under Section 409A, the Participant may elect to reduce the amount of any acceleration of vesting called for
under the Award in order to avoid such characterization. 
 (b) Determination by Tax Firm. To aid the Participant in making
any election called for under Section 13.3(a), no later than the date of the occurrence of any event that might reasonably be anticipated to result in an “excess parachute payment” to the Participant as described in
Section 13.3(a), the Company shall request a determination in writing by the professional firm engaged by the Company for general tax purposes, or, if the tax firm so engaged by the Company is serving as accountant or auditor for the Acquiror,
the Company will appoint a nationally recognized tax firm to make the determinations required by this Section (the “Tax Firm”). As soon as practicable thereafter, the Tax Firm shall determine and report to the Company and the
Participant the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax benefit to the Participant. For the purposes of such determination, the Tax Firm may
rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to the Tax Firm such information and documents as the Tax Firm may reasonably request in
order to make its required determination. The Company shall bear all fees and expenses the Tax Firm charges in connection with its services contemplated by this Section. 

14. COMPLIANCE WITH SECURITIES
LAW. 
 The grant of Awards and the issuance of shares of Stock pursuant
to any Award shall be subject to compliance with all applicable requirements of federal, state and foreign law with respect to such securities and the requirements of any stock exchange or market system upon which the Stock may then be listed. In
addition, no Award may be exercised or shares issued pursuant to an Award unless (a) a registration statement under the Securities Act shall at the time of such exercise or issuance be in effect with respect to the shares issuable pursuant to
the Award, or (b) in the opinion of legal counsel to the Company, the shares issuable pursuant to the Award may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. The
inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares under the Plan shall relieve the Company
of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to issuance of any Stock, the Company may require the Participant to satisfy any qualifications
that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company. 

  
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 15. COMPLIANCE WITH
SECTION 409A. 
 15.1 Awards
Subject to Section 409A. The Company intends that Awards granted pursuant to the Plan shall either be exempt from or comply with Section 409A, and the Plan shall be so construed. The provisions of this Section 15
shall apply to any Award or portion thereof that constitutes or provides for payment of Section 409A Deferred Compensation. Such Awards may include, without limitation: 

(a) A Nonstatutory Stock Option or SAR that includes any feature for the deferral of compensation other than the deferral of recognition of
income until the later of (i) the exercise or disposition of the Award or (ii) the time the stock acquired pursuant to the exercise of the Award first becomes substantially vested. 

(b) Any Restricted Stock Unit Award, Performance Award, Cash-Based Award or Other Stock-Based Award that either (i) provides by its terms
for settlement of all or any portion of the Award at a time or upon an event that will or may occur later than the end of the Short-Term Deferral Period (as defined below) or (ii) permits the Participant granted the Award to elect one or more
dates or events upon which the Award will be settled after the end of the Short-Term Deferral Period. 
 Subject to the provisions of
Section 409A, the term “Short-Term Deferral Period” means the 21⁄2 month period ending on the later of (i) the 15th day of
the third month following the end of the Participant’s taxable year in which the right to payment under the applicable portion of the Award is no longer subject to a substantial risk of forfeiture or (ii) the 15th day of the third month
following the end of the Company’s taxable year in which the right to payment under the applicable portion of the Award is no longer subject to a substantial risk of forfeiture. For this purpose, the term “substantial risk of
forfeiture” shall have the meaning provided by Section 409A. 
 15.2 Deferral and/or Distribution Elections. Except as
otherwise permitted or required by Section 409A, the following rules shall apply to any compensation deferral and/or payment elections (each, an “Election”) that may be permitted or required by the Committee pursuant to
an Award providing Section 409A Deferred Compensation: 
 (a) Elections must be in writing and specify the amount of the payment in
settlement of an Award being deferred, as well as the time and form of payment as permitted by this Plan. 
 (b) Elections shall be made by
the end of the Participant’s taxable year prior to the year in which services commence for which an Award may be granted to the Participant. 

(c) Elections shall continue in effect until a written revocation or change in Election is received by the Company, except that a written
revocation or change in Election must be received by the Company prior to the last day for making the Election determined in accordance with paragraph (b) above or as permitted by Section 15.3. 

  
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 15.3 Subsequent Elections. Except as otherwise permitted or required by
Section 409A, any Award providing Section 409A Deferred Compensation which permits a subsequent Election to delay the payment or change the form of payment in settlement of such Award shall comply with the following requirements: 

(a) No subsequent Election may take effect until at least twelve (12) months after the date on which the subsequent Election is made.

 (b) Each subsequent Election related to a payment in settlement of an Award not described in Section 15.4(a)(ii), 15.4(a)(iii) or
15.4(a)(vi) must result in a delay of the payment for a period of not less than five (5) years from the date on which such payment would otherwise have been made. 

(c) No subsequent Election related to a payment pursuant to Section 15.4(a)(iv) shall be made less than twelve (12) months before
the date on which such payment would otherwise have been made. 
 (d) Subsequent Elections shall continue in effect until a written
revocation or change in the subsequent Election is received by the Company, except that a written revocation or change in a subsequent Election must be received by the Company prior to the last day for making the subsequent Election determined in
accordance the preceding paragraphs of this Section 15.3. 
 15.4 Payment of Section 409A Deferred
Compensation. 
 (a) Permissible Payments. Except as otherwise permitted or required by Section 409A,
an Award providing Section 409A Deferred Compensation must provide for payment in settlement of the Award only upon one or more of the following: 

(i) The Participant’s “separation from service” (as defined by Section 409A); 

(ii) The Participant’s becoming “disabled” (as defined by Section 409A); 

(iii) The Participant’s death; 

(iv) A time or fixed schedule that is either (i) specified by the Committee upon the grant of an Award and set forth in the Award
Agreement evidencing such Award or (ii) specified by the Participant in an Election complying with the requirements of Section 15.2 or 15.3, as applicable; 

(v) A change in the ownership or effective control or the Company or in the ownership of a substantial portion of the assets of the Company
determined in accordance with Section 409A; or 

  
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 (vi) The occurrence of an “unforeseeable emergency” (as defined by
Section 409A). 
 (b) Installment Payments. It is the intent of this Plan that any right of a Participant to receive
installment payments (within the meaning of Section 409A) shall, for all purposes of Section 409A, be treated as a right to a series of separate payments. 

(c) Required Delay in Payment to Specified Employee Pursuant to Separation from Service. Notwithstanding any provision of the
Plan or an Award Agreement to the contrary, except as otherwise permitted by Section 409A, no payment pursuant to Section 15.4(a)(i) in settlement of an Award providing for Section 409A Deferred Compensation may be made to a
Participant who is a “specified employee” (as defined by Section 409A) as of the date of the Participant’s separation from service before the date (the “Delayed Payment Date”) that is
six (6) months after the date of such Participant’s separation from service, or, if earlier, the date of the Participant’s death. All such amounts that would, but for this paragraph, become payable prior to the Delayed Payment Date
shall be accumulated and paid on the Delayed Payment Date. 
 (d) Payment Upon Disability. All distributions of
Section 409A Deferred Compensation payable pursuant to Section 15.4(a)(ii) by reason of a Participant becoming disabled shall be paid in a lump sum or in periodic installments as established by the Participant’s Election. If the
Participant has made no Election with respect to distributions of Section 409A Deferred Compensation upon becoming disabled, all such distributions shall be paid in a lump sum upon the determination that the Participant has become disabled.

 (e) Payment Upon Death. If a Participant dies before complete distribution of amounts payable upon settlement of an
Award subject to Section 409A, such undistributed amounts shall be distributed to his or her beneficiary under the distribution method for death established by the Participant’s Election upon receipt by the Committee of satisfactory notice
and confirmation of the Participant’s death. If the Participant has made no Election with respect to distributions of Section 409A Deferred Compensation upon death, all such distributions shall be paid in a lump sum upon receipt by the
Committee of satisfactory notice and confirmation of the Participant’s death. 
 (f) Payment Upon
Change in Control. Notwithstanding any provision of the Plan or an Award Agreement to the contrary, to the extent that any amount constituting Section 409A Deferred Compensation would become payable under this Plan by reason of a Change
in Control, such amount shall become payable only if the event constituting a Change in Control would also constitute a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of
the Company within the meaning of Section 409A. Any Award which constitutes Section 409A Deferred Compensation and which would vest and otherwise become payable upon a Change in Control as a result of the failure of the Acquiror to assume,
continue or substitute for such Award in accordance with Section 13.1(b) shall vest to the extent provided by such Award but shall be converted automatically at the effective time of such Change in Control into a right to receive, in cash on
the date or dates such award would have been settled in accordance with its then existing settlement schedule (or as required by Section 15.4(c)), an amount or amounts equal in the aggregate to the intrinsic value of the Award at the time of
the Change in Control. 

  
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 (g) Payment Upon Unforeseeable Emergency. The Committee shall have the
authority to provide in the Award Agreement evidencing any Award providing for Section 409A Deferred Compensation for payment pursuant to Section 15.4(a)(vi) in settlement of all or a portion of such Award in the event that a Participant
establishes, to the satisfaction of the Committee, the occurrence of an unforeseeable emergency. In such event, the amount(s) distributed with respect to such unforeseeable emergency cannot exceed the amounts reasonably necessary to satisfy the
emergency need plus amounts necessary to pay taxes reasonably anticipated as a result of such distribution(s), after taking into account the extent to which such emergency need is or may be relieved through reimbursement or compensation by insurance
or otherwise, by liquidation of the Participant’s assets (to the extent the liquidation of such assets would not itself cause severe financial hardship) or by cessation of deferrals under the Award. All distributions with respect to an
unforeseeable emergency shall be made in a lump sum upon the Committee’s determination that an unforeseeable emergency has occurred. The Committee’s decision with respect to whether an unforeseeable emergency has occurred and the manner in
which, if at all, the payment in settlement of an Award shall be altered or modified, shall be final, conclusive, and not subject to approval or appeal. 

(h) Prohibition of Acceleration of Payments. Notwithstanding any provision of the Plan or an Award Agreement to the contrary,
this Plan does not permit the acceleration of the time or schedule of any payment under an Award providing Section 409A Deferred Compensation, except as permitted by Section 409A. 

(i) No Representation Regarding Section 409A Compliance. Notwithstanding any other provision of
the Plan, the Company makes no representation that Awards shall be exempt from or comply with Section 409A. No Participating Company shall be liable for any tax, penalty or interest imposed on a Participant by Section 409A. 

16. TAX WITHHOLDING. 

16.1 Tax Withholding in General. The Company shall have the right to deduct from any and all payments made under the Plan, or to require
the Participant, through payroll withholding, cash payment or otherwise, to make adequate provision for, the federal, state, local and foreign taxes (including social insurance), if any, required by law to be withheld by any Participating Company
with respect to an Award or the shares acquired pursuant thereto. The Company shall have no obligation to deliver shares of Stock, to release shares of Stock from an escrow established pursuant to an Award Agreement, or to make any payment in cash
under the Plan until the Participating Company Group’s tax withholding obligations have been satisfied by the Participant. 
 16.2
Withholding in or Directed Sale of Shares. The Company shall have the right, but not the obligation, to deduct from the shares of Stock issuable to a Participant upon the exercise or settlement of an Award, or to accept from the Participant
the tender of, a number of whole shares of Stock having a Fair Market Value, as determined by the Company, equal to all or any part of the tax withholding obligations of any Participating Company. The Fair Market

  
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Value of any shares of Stock withheld or tendered to satisfy any such tax withholding obligations shall not exceed the amount determined by the applicable minimum statutory withholding rates (or
the maximum individual statutory withholding rates for the applicable jurisdiction if use of such rates would not result in adverse accounting consequences or cost). The Company may require a Participant to direct a broker, upon the vesting,
exercise or settlement of an Award, to sell a portion of the shares subject to the Award determined by the Company in its discretion to be sufficient to cover the tax withholding obligations of any Participating Company and to remit an amount equal
to such tax withholding obligations to such Participating Company in cash. 
 17. AMENDMENT,
SUSPENSION OR TERMINATION OF PLAN. 

The Committee may amend, suspend or terminate the Plan at any time. However, without the approval of the Company’s stockholders, there
shall be (a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of the provisions of Sections 4.2, 4.3 and 4.4), (b) no change in the class of persons eligible to
receive Incentive Stock Options, and (c) no other amendment of the Plan that would require approval of the Company’s stockholders under any applicable law, regulation or rule, including the rules of any stock exchange or quotation system
upon which the Stock may then be listed or quoted. No amendment, suspension or termination of the Plan shall affect any then outstanding Award unless expressly provided by the Committee. Except as provided by the next sentence, no amendment,
suspension or termination of the Plan may have a materially adverse effect on any then outstanding Award without the consent of the Participant. Notwithstanding any other provision of the Plan or any Award Agreement to the contrary, the Committee
may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any Award Agreement, to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming the Plan or such
Award Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited to, Section 409A. 

18. MISCELLANEOUS PROVISIONS. 

18.1 Repurchase Rights. Shares issued under the Plan may be subject to one or more repurchase options, or other conditions
and restrictions as determined by the Committee in its discretion at the time the Award is granted. The Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or
more persons as may be selected by the Company. Upon request by the Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the
Company any and all certificates representing shares of Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions. 

  
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 18.2 Forfeiture Events. 

(a) The Committee may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award shall
be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to,
termination of Service for Cause or any act by a Participant, whether before or after termination of Service, that would constitute Cause for termination of Service, or any accounting restatement due to material noncompliance of the Company with any
financial reporting requirements of securities laws as a result of which, and to the extent that, such reduction, cancellation, forfeiture, or recoupment is required by applicable securities laws. In addition, to the extent that claw-back or similar
provisions applicable to Awards are required by applicable law, listing standards and/or policies adopted by the Company, Awards granted under the Plan shall be subject to such provisions. 

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

18.3 Provision of Information. Each Participant shall be given access to information concerning the Company equivalent to that
information generally made available to the Company’s common stockholders. 
 18.4 Rights as Employee, Consultant or Director. No
person, even though eligible pursuant to Section 5, shall have a right to be selected as a Participant, or, having been so selected, to be selected again as a Participant. Nothing in the Plan or any Award granted under the Plan shall confer on
any Participant a right to remain an Employee, Consultant or Director or interfere with or limit in any way any right of a Participating Company to terminate the Participant’s Service at any time. To the extent that an Employee of a
Participating Company other than the Company receives an Award under the Plan, that Award shall in no event be understood or interpreted to mean that the Company is the Employee’s employer or that the Employee has an employment relationship
with the Company. 
 18.5 Rights as a Stockholder. A Participant shall have no rights as a stockholder with respect to any shares
covered by an Award until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or
other rights for which the record date is prior to the date such shares are issued, except as provided in Section 4.3 or another provision of the Plan. 

18.6 Delivery of Title to Shares. Subject to any governing rules or regulations, the Company shall issue or cause to be issued the
shares of Stock acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant by means of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited
to the account of the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker with which the Participant has an account relationship, or (c) by delivering such shares of Stock to the
Participant in certificate form. 

  
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 18.7 Fractional Shares. The Company shall not be required to issue fractional shares
upon the exercise or settlement of any Award. 
 18.8 Retirement and Welfare Plans. Neither Awards made under this Plan nor shares of
Stock or cash paid pursuant to such Awards may be included as “compensation” for purposes of computing the benefits payable to any Participant under any Participating Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefit. In addition, unless a written
employment agreement or other service agreement specifically references Awards, a general reference to “benefits” or a similar term in such agreement shall not be deemed to refer to Awards granted hereunder. 

18.9 Beneficiary Designation. Subject to local laws and procedures, each Participant may file with the Company a written designation of
a beneficiary who is to receive any benefit under the Plan to which the Participant is entitled in the event of such Participant’s death before he or she receives any or all of such benefit. Each designation will revoke all prior designations
by the same Participant, shall be in a form prescribed by the Company, and will be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. If a married Participant designates a beneficiary
other than the Participant’s spouse, the effectiveness of such designation may be subject to the consent of the Participant’s spouse. If a Participant dies without an effective designation of a beneficiary who is living at the time of the
Participant’s death, the Company will pay any remaining unpaid benefits to the Participant’s legal representative. 
 18.10
Severability. If any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the
validity, legality and enforceability of the remaining provisions (or any part thereof) of the Plan shall not in any way be affected or impaired thereby. 

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

18.12 Unfunded Obligation. Participants shall have the status of general unsecured creditors of the Company. Any amounts payable to
Participants pursuant to the Plan shall be considered unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. No Participating Company shall be required
to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall 

  
 40 

 
retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation
or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Committee or any Participating Company and a Participant, or otherwise create any vested or beneficial interest in
any Participant or the Participant’s creditors in any assets of any Participating Company. The Participants shall have no claim against any Participating Company for any changes in the value of any assets which may be invested or reinvested by
the Company with respect to the Plan. 
 18.13 Choice of Law. Except to the extent governed by applicable federal law, the validity,
interpretation, construction and performance of the Plan and each Award Agreement shall be governed by the laws of the State of Maryland, without regard to its conflict of law rules. 

IN WITNESS WHEREOF, the undersigned Secretary of the Company certifies that the foregoing sets forth the Resource Real Estate
Opportunity REIT, Inc. 2020 Long-Term Incentive Plan as duly adopted by the Board on _____________, 2020. 
  

	
	 /s/

	, Secretary

  
 41 

 PLAN HISTORY AND NOTES TO COMPANY 

 

			
	________, 2020	  	Board adopts Plan with a reserve of ______ shares (subject to increases and other adjustments as provided by the Plan), subject to approval by the stockholders of the Company.
		
	_______, 2020	  	Plan approved by the stockholders of the Company.

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