Document:

EX-10.1

 Exhibit 10.1 

TWO-YEAR CHANGE IN CONTROL AGREEMENT 

This Change in Control Agreement (the “Agreement”) is made effective as of the
17th day of December, 2013 (the “Effective Date”), by and between East Boston Savings Bank (the “Bank”), a bank organized under the laws of the Commonwealth of Massachusetts
with its headquarters located in East Boston, Massachusetts (the “Bank”) and John Migliozzi (“Executive”). 

WITNESSETH 
 WHEREAS, the
Bank desires to be ensured of the Executive’s continued active participation in the business of the Bank; and 
 WHEREAS, in order to
induce the Executive to remain in the employ of the Bank and in consideration of the Executive’s agreeing to remain in the employ of the Bank, the parties desire to specify the severance benefits which shall be due the Executive in the event
that his employment with the Bank is terminated under specified circumstances. 
 NOW THEREFORE, in consideration of the mutual agreements
herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows: 
  

	1.	TERM OF AGREEMENT 

 (a) The term of this Agreement shall be (i) the initial term,
consisting of the period commencing on the Effective Date and ending on the second anniversary date of the Effective Date, plus (ii) any and all extensions of the initial term made pursuant to this Section 1. 

(b) The term of this Agreement shall be extended for one day each day so that a constant twenty-four (24) calendar month term shall
remain in effect, until such time as the board of directors of the Bank (the “Board”) or the Executive elects not to extend the term of the Agreement by giving written notice to the other party in accordance with the terms of this
Agreement, in which case the term of this Agreement shall be fixed and shall end on the second anniversary of the date of such written notice. 
  

	2.	DEFINITIONS 

 (a) “Change in Control” shall mean a change in control of the
Bank or Meridian Interstate Bancorp, Inc. (the “Company”) as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations promulgated thereunder, including the following: 

 

	 	(1)	Change in ownership: A change in ownership of the Bank or the Company occurs on the date any one person or group of persons accumulates ownership of more than 50% of the total fair market value or total voting
power of the Bank or the Company; or 

	 	(2)	Change in effective control: A change in effective control occurs when either (i) any one person or more than one person acting as a group acquires within a twelve (12)-month period ownership of stock of the
Bank or Company possessing 35% or more of the total voting power of the Bank or Company; or (ii) a majority of the Bank’s or Company’s Board of Directors is replaced during any 12-month period by Directors whose appointment or
election is not endorsed in advance by a majority of the Bank’s or Company’s Board of Directors (as applicable), or 

  

	 	(3)	Change in ownership of a substantial portion of assets: A change in the ownership of a substantial portion of the Bank’s or Company’s assets occurs if, in a twelve (12)-month period, any one person or
more than one person acting as a group acquires assets from the Bank or Company having a total gross fair market value equal to or exceeding 40% of the total gross fair market value of the Bank’s or Company’s entire assets immediately
before the acquisition or acquisitions. For this purpose, “gross fair market value” means the value of the Bank’s or Company’s assets, or the value of the assets being disposed of, determined without regard to any liabilities
associated with the assets. 

  

	 	(4)	Notwithstanding anything in this Agreement to the contrary, in no event shall a reorganization of Meridian Financial Services, Incorporated (including a second-step conversion), the Bank or Company solely within its
corporate structure constitute a “Change in Control” for purposes of this Agreement. 

 (b) “Good Reason”
shall mean a termination by the Executive following a Change in Control based on the following: 
 (1) a material diminution in the
Executive’s base compensation as in effect immediately prior to the date of the Change in Control or as the same may be increased from time to time thereafter, (2) a material diminution in the Executive’s authority, duties or
responsibilities as in effect immediately prior to the Change in Control, or (3) a material diminution in the authority, duties or responsibilities of the officer (as in effect immediately prior to the date of the Change in Control) to whom the
Executive is required to report, 
 (2) any material breach of this Agreement by the Bank, or 

(3) an involuntary relocation of the Bank’s offices in which Executive is principally employed by more than 10 miles; 

provided, however, that prior to any termination of employment for Good Reason, the Executive must first provide written notice to the Bank (or
its successor) within sixty (60) days of the initial existence of the condition, describing the 

  
 2 

 
existence of such condition, and the Bank shall thereafter have the right to remedy the condition within thirty (30) days of the date the Bank received the written notice from the Executive.
If the Bank remedies the condition within such thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such condition. If the Bank does not remedy the condition within such thirty (30) day cure period,
then the Executive may deliver a Notice of Termination for Good Reason at any time within sixty (60) days following the expiration of such cure period. 

(c) Termination for Cause shall mean: 
  

	 	(1)	the commission by, or indictment of, Executive for any felony involving moral turpitude, deceit, dishonesty, or fraud; 

  

	 	(2)	a material act or acts of dishonesty in connection with the performance of Executive’s duties, including without limitation, material misappropriation of funds or property; 

 

	 	(3)	an act or acts of gross misconduct by Executive; or 

  

	 	(4)	continued, willful, and deliberate non-performance by Executive of duties (other than by reason of illness or disability) which has continued for more than thirty (30) days following written notice of
non-performance from the Board. 

 A determination of whether Executive’s employment shall be terminated for Cause shall
be made at a meeting of the Board called and held for such purpose, at which the Board makes a finding that in good faith opinion of the Board an event set forth in clauses (1), (2), (3), or (4) above has occurred and specifying the particulars
thereof in detail. 
 (d) For purposes of this Agreement, any termination of Executive’s employment shall be construed to require a
“Separation from Service” in accordance with Code Section 409A and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after
termination of employment would permanently decrease to a level that is less than 20% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month
period. 

  
 3 

	3.	BENEFITS UPON TERMINATION 

 (a) If the Executive’s employment by the Bank shall be
terminated subsequent to a Change in Control and during the term of this Agreement by (i) the Bank for other than Cause, or (ii) the Executive for Good Reason, then the Bank shall: 

(1) pay Executive, or in the event of Executive’s subsequent death, Executive’s beneficiary or beneficiaries or estate, as
applicable, a cash severance amount equal to: 
 (i) two (2) times the Executive’s base salary in effect as of the
Date of Termination, 
 (ii) the highest level of cash incentive compensation earned by the Executive from the Bank in any
one of the three calendar years immediately preceding the year in which the termination occurs, and 
 (iii) payable by lump
sum within ten (10) business days of the Date of Termination. 
 (2) cause to be continued non-taxable medical and dental coverage
substantially identical to the coverage maintained by the Bank for Executive prior to Executive’s termination, with the Executive responsible for his share of employee premiums, for twenty-four (24) months. Notwithstanding the foregoing,
if applicable law (including, but not limited to, laws prohibiting discriminating in favor of highly compensated employees), or, if participation by the Executive is not permitted under the terms of the applicable health plans, or if providing such
benefits would subject the Bank to penalties, then the Bank shall pay the Executive a cash lump sum payment reasonably estimated to be equal to the value of such non-taxable medical and dental benefits, with such payment to be made by lump sum
within ten (10) business days of the Date of Termination, or if later, the date on which the Bank determines that such insurance coverage (or the remainder of such insurance coverage) cannot be provided for the foregoing reasons. 

(b) In no event shall the payments or benefits to be made or provided to Executive under Section 3 hereof (the “Termination
Benefits”) constitute an “excess parachute payment” under Section 280G of the Code or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount the value of which
is one dollar ($1.00) less than an amount equal to three (3) times Executive’s “base amount,” as determined in accordance with Section 280G of the Code. The reduction required among the Termination Benefits provided by this
Section 3 shall be applied to the cash severance benefits otherwise payable under Section 3(a) hereof. 
  

	4.	NOTICE OF TERMINATION 

 Any purported termination by the Bank or by Executive in
connection with or following a Change in Control shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the Date
of Termination and, in the event of termination by Executive, the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment under the provision so indicated. “Date of Termination” shall mean the date specified in the 

  
 4 

 
Notice of Termination (which, in the case of a termination for Cause, shall be immediate). In no event shall the Date of Termination exceed thirty (30) days from the date the Notice of
Termination is given. 
  

	5.	SOURCE OF PAYMENTS 

 All payments provided in this Agreement shall be timely paid in cash
or check from the general funds of the Bank. 
  

	6.	REQUIRED REGULATORY PROVISIONS 

 Notwithstanding anything herein contained to the
contrary, any payments to Executive by the Bank, whether pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and
the regulations promulgated thereunder in 12 C.F.R. Part 359. 
  

	7.	NO ATTACHMENT 

 Except as required by law, no right to receive payments under this
Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary
or involuntary, to effect any such action shall be null, void, and of no effect. 
  

	8.	ENTIRE AGREEMENT; MODIFICATION AND WAIVER 

 (a) This Agreement contains the entire
understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere
provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement. 

(b) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 

(c) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any
provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to
the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 
  

	9.	SEVERABILITY 

 If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law
continue in full force and effect. 

  
 5 

	10.	HEADINGS FOR REFERENCE ONLY 

 The headings of sections and paragraphs herein are included
solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 
  

	11.	GOVERNING LAW 

 This Agreement shall be governed by the laws of the Commonwealth of
Massachusetts but only to the extent not superseded by federal law. 
  

	12.	ARBITRATION 

 Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator, mutually acceptable to the Bank and Executive, sitting in a
location selected by the Bank within twenty-five (25) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Association’s National Rules for the Resolution of Employment Disputes then in effect.
Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 
  

	13.	PAYMENT OF LEGAL FEES 

 To the extent that such payment(s) may be made without triggering
penalty under Code Section 409A, all reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Bank, provided that the dispute or
interpretation has been resolved in Executive’s favor, and such reimbursement shall occur no later than sixty (60) days after the end of the year in which the dispute is settled or resolved in Executive’s favor. 

 

	14.	OBLIGATIONS OF BANK 

 The termination of Executive’s employment, other than
following a Change in Control, shall not result in any obligation of the Bank under this Agreement. 
  

	15.	SUCCESSORS AND ASSIGNS 

 The Bank shall require any successor or assignee, whether direct
or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Bank, expressly and unconditionally to assume and agree to perform the Bank’s obligations under this Agreement, in the same
manner and to the same extent that the Bank would be required to perform if no such succession or assignment had taken place. 

[Signature Page Follows] 

  
 6 

 SIGNATURES 

IN WITNESS WHEREOF, the Bank has caused this Agreement to be executed by its duly authorized officer, and Executive has signed this
Agreement, as of the Effective Date. 
  

			
		 	EAST BOSTON SAVINGS BANK
		
	By:	 	 /s/ Richard J. Gavegnano

		 	Richard J. Gavegnano
		
		 	EXECUTIVE
		
	By:	 	 s/ John Migliozzi

		 	John Migliozzi

  
 7EX-10.16

 Exhibit 10.16 

ABM INDUSTRIES INCORPORATED 

STATEMENT OF TERMS AND CONDITIONS APPLICABLE 

TO OPTIONS, RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

GRANTED TO DIRECTORS PURSUANT TO 

THE 2006 EQUITY INCENTIVE PLAN 

(As Amended and Restated December 9, 2013) 
  

	I.	INTRODUCTION 

 The following terms and conditions shall apply to each Award granted
under the Plan to a Director eligible to participate in the Plan. This Statement of Terms and Conditions is subject to the terms of the Plan and of any Award made pursuant to the Plan. In the event of any inconsistency between this Statement of
Terms and Conditions and the Plan, the Plan shall govern. 
  

	II.	DEFINITIONS 

 Capitalized terms not otherwise defined in this Statement of Terms and
Conditions shall have the meaning set forth in the Plan. When capitalized in this Statement of Terms and Conditions, the following additional terms shall have the meaning set forth below: 

 

	 	A.	“Grant Date” means the date the Administrator grants the Award. 

  

	 	B.	“Mandatory Retirement” means the mandatory termination of service by a non-employee Director on (but not before) the date of the annual meeting of shareholders next following the attainment of such
Director of age 73. 

  

	 	C.	“Option Period” means the period commencing on the Grant Date of an Option and, except as otherwise provided in Section III.E, ending on the Termination Date. 

 

	 	D.	“Retirement” means the voluntary termination of service by a non-employee Director at (i) age 65 or older or (ii) age 55 or older at a time when age plus years of service equals or exceeds 65.

  

	 	E.	“Termination Date” means the date that an Option expires as set forth in the Option Agreement. 

  

	III.	OPTIONS 

  

	 	A.	Option Notice and Agreement. An Option granted under the Plan shall be evidenced by an Option Agreement setting forth the terms and conditions of the Option and the number of Shares subject to the Option. Each
Option Agreement shall incorporate by reference and be subject to this Statement of Terms and Conditions and the terms and conditions of the Plan. 

	 	B.	Exercise Price. The per Share Exercise Price of an Option, as specified in the Option Agreement, shall be equal to or greater than the per Share Fair Market Value of the Shares underlying the Option on the Grant
Date. 

  

	 	C.	Option Period. An Option shall be exercisable only during the applicable Option Period, and during such Option Period the exercisability of the Option shall be subject to the vesting provisions of Section III.D
as modified by the rules set forth in Sections III.E and V. The Option Period shall be not more than seven years from the Grant Date. 

  

	 	D.	Vesting of Right to Exercise Options. 

 1.      Except as
provided in Sections III.E and V, an Option shall be exercisable during the Option Period in accordance with the following vesting schedule: (i) one-third of the Shares subject to the Option shall vest on the first anniversary of the Grant
Date; (ii) an additional one-third of the Shares shall vest on the second anniversary of the Grant Date; and (iii) the remaining one-third of the Shares subject to the Option shall vest on the fourth anniversary of the Grant Date.
Notwithstanding the foregoing, the Administrator may specify a different vesting schedule at the time the Option is granted and as specified in the Option Agreement. 

2.      Any vested portion of an Option not exercised hereunder shall accumulate and be exercisable at any time
on or before the Termination Date, subject to the rules set forth in Section III.E and V. No Option may be exercised for less than 5% of the total number of Shares then available for exercise under such Option. In no event shall the Company be
required to issue fractional shares. 
  

	 	E.	Termination of Service due to Retirement. If a Participant ceases to be a director of the Company due to his or her Retirement during the Option Period, (i) in addition to any Shares vested under the Option
Agreement prior to the date of Retirement, the Option shall vest in the number of Shares equal to one-third of the number of Shares originally subject to the Option, multiplied by the number of whole months between the most recent anniversary date
of the Grant Date and the date of Retirement, and divided by 12. 

  

	 	F.	Termination of Service due to Mandatory Retirement, Disability or Death. If a Participant ceases to be a director of the Company due to his or her Mandatory Retirement, Disability or death, in addition to any
Shares vested under the Option Agreement prior to the date of Mandatory Retirement, Disability or death, the Option shall immediately vest on the date of the Participant’s Mandatory Retirement, Disability or death. 

 

	 	G.	Method of Exercise. A Participant may exercise an Option with respect to all or any part of the exercisable Shares as follows: 

1.      By giving the Company, or its authorized representative designated for this purpose, written notice of
such exercise specifying the number of Shares as to which the Option is so exercised. Such notice shall be accompanied by an amount equal to the Exercise Price of such Shares, in the form of any one or combination of the following: 

 

	 	a.	cash or a certified check, bank draft, postal or express money order payable to the order of the Company in lawful money of the United States; 

  
 2 

	 	b.	if approved by the Company at the time of exercise, personal check of the Participant; 

  

	 	c.	if approved by the Company at the time of exercise, a “net exercise” pursuant to which the Company will not require a payment of the exercise price from the Participant but will reduce the number of Shares
issued upon the exercise by the largest number of whole Shares that has a Fair Market Value that does not exceed the aggregate exercise price. With respect to any remaining balance of the aggregate exercise price, the Company shall accept a payment
in a form identified in (a) or (b) of this section; 

  

	 	d.	if approved by the Company at the time of exercise, by tendering to the Company or its authorized representative Shares which have been owned by the Participant for at least six months prior to said tender, and having a
fair market value, as determined by the Company, equal to the Exercise Price; or 

  

	 	e.	if approved by the Company at the time of exercise, delivery (including by FAX transmission) to the Company or its authorized representative of an executed irrevocable option exercise form together with irrevocable
instructions to an approved registered investment broker to sell Shares in an amount sufficient to pay the Exercise Price and to transfer the proceeds of such sale to the Company. 

2.      If required by the Company, the Participant shall give his or her assurance in writing, signed by the
Participant, that the Shares subject to the Option are being purchased for investment and not with a view to the distribution thereof; provided that such assurance shall be deemed inapplicable to (i) any sale of the Shares by such Participant
made in accordance with the terms of a registration statement covering such sale, which has heretofore been (or may hereafter be) filed and become effective under the Securities Act of 1933, as amended (the “Securities Act”) and with
respect to which no stop order suspending the effectiveness thereof has been issued, and (ii) any other sale of the Shares with respect to which, in the opinion of counsel for the Company, such assurance is not required to be given in order to
comply with the provisions of the Securities Act. 
  

	 	H.	Limitations on Transfer. An Option shall, during a Participant’s lifetime, be exercisable only by the Participant. No Option or any right granted under the Plan shall be transferable by the Participant by
operation of law or otherwise, other than as set forth in the Plan. In the event of any attempt by a Participant to alienate, assign, pledge, hypothecate, or otherwise dispose of an Option or of any right under the Plan, except as provided herein,
or in the event of the levy of any attachment, execution, or similar process upon the rights or interest hereby conferred, the Company at its election may terminate the affected Option by notice to the Participant and the Option shall thereupon
become null and void. 

  
 3 

	 	I.	No Shareholder Rights. Neither a Participant nor any person entitled to exercise a Participant’s rights in the event of the Participant’s death shall have any of the rights of a shareholder with respect
to the Shares subject to an Option except to the extent that an Option has been exercised. 

  

	IV.	RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

  

	 	A.	Agreement. A Restricted Stock Award or Restricted Stock Unit Award granted under the Plan shall be evidenced by an Agreement to be executed by the Participant and the Company setting forth the terms and
conditions of the Award. Each Award Agreement shall incorporate by reference and be subject to this Statement of Terms and Conditions and the terms and conditions of the Plan. 

 

	 	B.	Special Restrictions. Each Restricted Stock Award or Restricted Stock Unit Award made under the Plan shall contain the following terms, conditions and restrictions and such additional terms, conditions and
restrictions as may be determined by the Administrator; provided, however, that no Award shall be subject to additional terms, conditions and restrictions which are more favorable to a Participant than the terms, conditions and restrictions set
forth in the Plan, the Restricted Stock Agreement, Restricted Stock Unit Award Agreement, or this Statement of Terms and Conditions. 

1.      Restrictions. Until the restrictions imposed on any Restricted Stock Award or Restricted Stock
Unit Award shall lapse, shares of Restricted Stock or Restricted Stock Units granted to a Participant: (a) shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, and (b) shall, if the Participant
experiences a “separation from service” (within the meaning of Section 409A of the Code) from the Company for any reason (except as otherwise provided in the Plan or in Sections IV.B.2 or V) be returned to the Company forthwith, and
all the rights of the Participant to such Shares or Restricted Stock Units shall immediately terminate. A Participant shall not be permitted to sell, transfer, pledge, assign or encumber such Restricted Stock or Restricted Stock Units, other than
pursuant to a qualified domestic relations order as defined in the Internal Revenue Code of 1986, as amended, or Title I of the Employee Retirement Income Security Act. If a Participant experiences a “separation from service” (within the
meaning of Section 409A of the Code) (except as otherwise provided in the Plan or in Sections IV.B.2 or V prior to the lapse of the restrictions imposed on Restricted Stock or a Restricted Stock Unit Award), the unvested portion of the
Restricted Stock or Restricted Stock Unit Award shall be forfeited to the Company, and all the rights of the Participant to such Award shall immediately terminate. 

2.      Termination of Service by Reason of Retirement. Notwithstanding any provision contained herein
or in the Plan or the Restricted Stock Agreement or Restricted Stock Unit Agreement to the contrary, if a Participant who has been serving as a director of the Company since the Grant Date of a Restricted Stock Award or Restricted Stock Unit Award
ceases to be a director of the Company, which cessation constitutes a “separation from service” within the meaning of Section 409A of the Code and which is a result of Retirement, then the restrictions shall lapse as to the number of
Shares or Share Equivalents equal to: (i) one-third of the number of Shares or Share Equivalents originally subject to the Award, multiplied by (ii) the number of whole months between the most recent anniversary date of the Grant Date and
the date of Retirement, Disability or death, and divided by 12. 

  
 4 

 3.      Termination of Service by Reason of Mandatory
Retirement, Disability or Death. Notwithstanding any provision contained herein or in the Plan or the Restricted Stock Agreement or Restricted Stock Unit Agreement to the contrary, if a Participant who has been serving as a director of the
Company since the Grant Date of a Restricted Stock Award or Restricted Stock Unit Award ceases to be a director of the Company, which cessation constitutes a “separation from service” within the meaning of Section 409A of the Code and
which is the result of Mandatory Retirement, Disability or death, then the restrictions shall immediately lapse on the date of such Participant’s Mandatory Retirement, Disability or death, as to all Shares or Share Equivalents that had not
previously lapsed. 
  

	 	C.	Dividends or Dividend Equivalents. Upon dividends being paid on outstanding shares of ABM common stock, dividends shall be paid with respect to Restricted Stock during the Restriction Period and shall be
converted to additional shares of Restricted Stock at the Fair Market Value on the date of payment, which shall be subject to the same restrictions as the original Award for the duration of the Restricted Period. Upon dividends being paid on
outstanding shares of ABM common stock, dividend equivalents shall be credited in respect of Restricted Stock Units, which shall be converted into additional Restricted Stock Units at the Fair Market Value on the date of payment, which will be
subject to all of the terms and conditions of the underlying Restricted Stock Unit Award, including the same vesting restrictions as the underlying Award. 

  

	 	D.	No Shareholder Rights for Restricted Stock Units. Neither a Participant nor any person entitled to exercise a Participant’s rights in the event of the Participant’s death shall have any of the rights of
a shareholder with respect to the Share Equivalents subject to a Restricted Stock Unit Award except to the extent that restrictions have lapsed and Shares have been issued upon the payment of any vested Restricted Stock Unit Award.

  

	 	E.	Time of Payment of Restricted Stock Units. 

  

	 	1.	Subject to Section IV (E) (2) below, upon the lapse of the restriction imposed on Restricted Stock Unit Awards, all Restricted Stock Units that were not forfeited pursuant to Section IV (B) (1) shall
be paid to the Participant as soon as reasonably practicable after the restrictions lapse but not later than 75 days following the date on which the restrictions lapse. Payment shall be made in Shares. 

 

	 	2.	To the extent required in order to avoid accelerated taxation and/or tax penalties under Code Section 409A, amounts that would otherwise be payable pursuant to Section (IV)(F) of this Statement of Terms and
Conditions during the six-month period immediately following a Participant’s termination of employment shall instead be paid on the first business day after the date that is six months following the Participant’s cessation of service as a
director (or upon the Participant’s death, if earlier). 

  
 5 

	V.	CHANGE IN CONTROL 

 In the event of a Change in Control, all Options that are
outstanding at the time of such Change in Control shall become 100% vested and immediately exercisable, all restrictions with respect to outstanding shares of Restricted Stock shall lapse, such Shares shall become 100% vested and all outstanding
Restricted Stock Unit Awards shall become 100% vested and immediately payable. Notwithstanding anything in this Section V to the contrary, if the Change in Control does not constitute a “change in effective ownership or control” of the
Company within the meaning of Code Section 409A, the Restricted Stock Units granted pursuant to this Statement of Terms and Conditions will vest as provided in this Section V, but will be payable to the Participant in accordance with the
provisions of Section IV. 
  

	VI.	MISCELLANEOUS 

  

	 	A.	Grants to Participants in Foreign Countries. In making grants to Participants in foreign countries, the Administrator has the full discretion to deviate from this Statement of Terms and Conditions in order to
adjust Awards under the Plan to prevailing local conditions, including custom and legal and tax requirements. 

  

	 	B.	Information Notification. Any information required to be given under the terms of an Award Agreement shall be addressed to the Company in care of Senior Vice President, Human Resources, 160 Pacific Ave., Suite
222, San Francisco, CA 94111, and any notice to be given to a Participant shall be addressed to him or her at the address indicated beneath his or her name on the Award Agreement or such other address as either party may designate in writing to the
other. Any such notice shall be deemed to have been duly given when enclosed in a properly sealed envelope or wrapper addressed as aforesaid, registered or certified and deposited (postage or registration or certification fee prepaid) in a post
office or branch post office regularly maintained by the United States. 

  

	 	C.	Administrator Decisions Conclusive. All decisions of the Administrator administering the Plan upon any questions arising under the Plan, under this Statement of Terms and Conditions, or under an Award Agreement,
shall be conclusive. 

  

	 	D.	No Effect on Other Benefit Plans. Nothing herein contained shall affect a Participant’s right to participate in and receive benefits from and in accordance with the then current provisions of any pensions,
insurance or other employment welfare plan or program offered by the Company to its non-employee directors. 

  

	 	E.	Tax Payments. Each Participant shall agree to satisfy any applicable federal, state or local income taxes associated with an Award. 

  
 6 

	 	F.	Successors. This Statement of Terms and Conditions and the Award Agreements shall be binding upon and inure to the benefit of any successor or successors of the Company. “Participant” as used herein
shall include the Participant’s Beneficiary. 

  

	 	G.	Governing Law. The interpretation, performance, and enforcement of this Statement of Terms and Conditions and all Award Agreements shall be governed by the laws of the State of Delaware. 

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]