Document:

Form of Severance Pay Plan for Executives

 Exhibit 10.16 
 ENOVA INTERNATIONAL, INC. 
 SEVERANCE PAY PLAN FOR EXECUTIVES

 (A part of the Enova International, Inc. Group Benefit Plan) 

 

	1.	INTRODUCTION 

 (a)
Overview. As an Eligible Associate who incurs an Eligible Termination (both defined below), you may be entitled to severance pay and benefits, generally in an amount and form, at such times, and subject to the terms, described in this document.
As used in this Plan, the term ‘associate’ shall mean all employees and officers of Enova International, Inc. (“Enova”) and its affiliates. 
 (b) Effective Date. This Enova International, Inc. Severance Pay Plan for Executives (this “Plan”), a benefit provided under the Enova International, Inc. Group Benefit Plan (the
“Welfare Plan”), is effective as of                     , 2011. 

(c) Participating Companies. The Plan generally provides severance benefits for the eligible executives of Enova and its
affiliates that Enova designates as participating companies herein (referred to collectively in this document as the “Company”). 
 (d) Purpose; Controlling Document. This document, along with the Welfare Plan, serves as the plan document and summary plan description for this Plan. This Plan replaces and supersedes with respect
to Eligible Associates any other severance policy or severance plan in which an Eligible Associate might otherwise be entitled to participate. All such other severance policies or severance plans (if any) are hereby terminated with respect to
Eligible Associates, except to the extent that an Eligible Associate and the Company have entered into an individual severance agreement.  
  

	2.	ELIGIBILITY 

 (a)
General Requirements. You will be an “Eligible Associate” who may be eligible to receive severance benefits under this Plan if: 
  

	 	•	 	 You are an active full-time salaried executive of the Company who has the title of “Vice President” or above and who has at least 1 year of
employment with the Company, and 

  

	 	•	 	 You do not fall within one of the categories described in subsection (b) below. 

(b) Excluded Individuals. The following individuals will not be Eligible Associates and are not eligible to
participate in this Plan: 
  

	 	•	 	 Part-Time or Temporary Associates – individuals who provide services to the Company and who the Company classifies under its customary
worker classification procedures as part-time or temporary employees. 

  

	 	•	 	 Associates With Less Than 1 Year of Employment – individuals who have been employed continuously by the Company for less than 1 year since
their day of hire (or last day of rehire). 

  

	 	•	 	 Associates With Written Employment Agreements – individuals who have written employment agreements with the Company that provide for
severance benefits, except such agreements that merely reference the Company’s general severance policy for such benefits. 

  

	 	•	 	 Union Participants – individuals who are covered under a collective bargaining agreement between a union and the Company, if benefits were
the subject of good faith bargaining, except to the extent that the collective bargaining agreement requires participation in this Plan. 

	 	•	 	 Foreign Associates – individuals who are non-resident aliens and receive no U.S. source income. 

 

	 	•	 	 Non-Employee Service Providers – individuals who provide services to the Company and who the Company does not classify under its customary
worker classification procedures as employees, even if the individuals are common law employees, including, but not limited to, independent contractors, contractor’s employees and leased employees. 

 

	 	•	 	 Individuals on Indefinite Unpaid Leaves of Absence – individuals who are absent from work on indefinite unpaid leaves of absence, except to
the extent eligibility is required by applicable law. 

 (c) Eligible Termination. If you are an
Eligible Associate, you will incur an “Eligible Termination,” and therefore may be eligible to receive benefits under this Plan, if your employment is involuntarily terminated by the Company (and you thereby incur a separation from
service) due to restructuring or job elimination by the Company or due to other circumstances that the Company finds warrant providing severance pay and/or benefits. The Company retains the authority in all cases to determine whether or not a
termination is an “Eligible Termination” for purposes of this Plan; but, as a guideline, an “Eligible Termination” does not typically include any of the following: 

 

	 	•	 	 Your termination for Cause. For purposes hereof, “Cause” means termination of your employment due to (i) what the Company determines in
its sole discretion to be fraud, malfeasance, negligence, dishonesty, or willful misconduct with respect to the Company; (ii) refusal or repeated failure to follow the established reasonable and lawful policies of the Company applicable to
persons in your same or similar position; (iii) conviction of a felony; or (iv) your inadequate performance as determined in the sole discretion of the Company; 

 

	 	•	 	 Your automatic termination due to your disability or any other leave of absence from which you failed to return; 

 

	 	•	 	 Your death; 

  

	 	•	 	 Your voluntary termination, including retirement; or 

  

	 	•	 	 The sale of some or all of the stock or assets of the Company that results in, or is related to, your termination of employment either if (i) you
are offered a position with a successor company (either the buyer or a company related to the buyer), regardless of whether you accept or reject the offer, or (ii) you are not offered employment with such a successor company because you fail
any pre-employment screening or testing (including, but not limited to, drug testing). 

 Your “Last Day
Worked” will be the day your active employment ends and you have a separation from service due to your Eligible Termination. 
  

	3.	SEVERANCE PAY AND BENEFITS 

(a) Determination of Base Amount. As an Eligible Associate who incurs an Eligible Termination, you may be eligible for a certain
amount of severance pay and benefits. In order to receive any of the pay and benefits (other than vacation pay or paid time off (“PTO”) payable under this Plan and described below), you must first sign a Release (as described in
Section 4 below). The following general guidelines for severance pay and benefits will be used to determine benefits available under the Plan, but in all cases, the Company will have complete discretionary authority to award greater or lesser
amounts of severance pay and/or benefits, including no severance pay and/or benefits. The Company will communicate to you the level of benefits, if any, you will be offered under the Plan before you sign your Release. Under these guidelines, the
following amounts may apply: 

  
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 (i) Vacation Pay. A cash payment equal to the
value of any accrued but unused vacation and PTO days that you have earned and for which you have been credited through your Last Day Worked. Value shall be measured based on your base salary or wage level in effect as of your Last Day Worked. This
amount will be paid to you in a single lump sum on the
30th day after your date of separation from service (as
defined below) (or such earlier date as may be required by applicable state law) only to the extent provided under, and consistent with, the Company’s vacation/PTO policy. 

(ii) Severance Pay. 
 (A) Amount. Subject to coordination described in section 3(b) below, following your Last Day Worked, the number of months of base salary paid as severance will be determined based on your
position (and band) and completed Years of Employment, applied to the following chart: 
  

																	
	 Years of
 Employment
	  	Position	 
	  	 Vice
President

(VP)
	 	  	Senior Vice
President
(SVP)	 	  	 Executive
Vice President

(EVP)
	 	  	 Chief
Executive
Officer

(CEO)
	 
	  	(Band 97)	 	  	(Band 98)	 	  	(Band 99)	 	  	(Band 100)	 
	 1 but less than 5
	  	 	4 months	  	  	 	6 months	  	  	 	9 months	  	  	 	12 months	  
	 5 but less than 10
	  	 	6 months	  	  	 	9 months	  	  	 	12 months	  	  	 	18 months	  
	 10 but less than 15
	  	 	8 months	  	  	 	12 months	  	  	 	18 months	  	  	 	24 months	  
	 15 but less than 20
	  	 	10 months	  	  	 	15 months	  	  	 	24 months	  	  	 	24 months	  
	 20 or more
	  	 	12 months	  	  	 	18 months	  	  	 	24 months	  	  	 	24 months	  

 In no event will severance pay exceed 24 months of base salary. 

For this purpose, “Years of Employment” means the number of full 12-month periods of continuous employment you have worked as a
full-time, regular associate with the Company beginning on your most recent date of hire or rehire with the Company (and, to the extent determined by the Plan Administrator (as defined below), in its sole discretion, with predecessor employers
acquired by the Company). The rate of severance pay will be calculated by using your base weekly salary or wage level in effect as of your Last Day Worked. For associates not eligible for benefits under the Plan, the Company may determine, in its
sole discretion, to pay some or no severance pay. Service with CAI counted. Continuous uninterrupted prior years of service with Cash America International, Inc. or any of its affiliates or subsidiaries during the period immediately preceding the
Effective Date will be counted towards your Years of Employment under this Plan. 
 (B) Payment.
Such amount of severance pay shall be paid in substantially equal installments as salary continuation for the period specified above, beginning upon the date of your separation from service (your “Severance Period”). Such
installment payments shall be paid in accordance with the Company’s regular payroll procedures for other similarly-situated active associates. Notwithstanding the foregoing, any payment of severance pay shall be delayed until after the
expiration of the revocation period required for an effective age-based release (see section 4 below), and any amount of severance pay otherwise due before the end of such revocation period shall be accumulated without

  
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interest and paid upon the day after the end of such period in a single lump-sum payment. In no event shall the first payment be made more than 74 days following your Eligible Termination. Each
payment shall be considered a separate payment for purposes of Section 409A of the Internal Revenue Code of 1986 (“Section 409A”). 
 (iii) Welfare Benefits. 
 (A) Medical Benefits. Upon
an Eligible Termination, your group medical, dental, and vision benefits under the Company’s group health plan(s) will end as of your Last Day Worked. If you elect to continue health coverage under the group health plan continuation coverage
provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), then, while such coverage is in effect through your Severance Period, the Company will reimburse you for the portion of the premium for group health plan coverage
that is in excess of what similarly-situated active associates would pay for similar coverage under the Company’s plans during that period. The amount of each month’s reduced premium shall be considered a separate payment for purposes of
Section 409A. To the extent the continued subsidized coverage provided to you is treated as discriminatory in favor of a highly compensated individual under Section 105(h) of the Internal Revenue Code, the Company will report the amount of
the reimbursement as taxable income on your Form W-2. 
 (B) Other Welfare Benefits. Other group welfare
benefits (e.g., life, accidental death and dismemberment, and disability insurance) will end as of your Last Day Worked, but some of the insurance policies may allow you to elect to convert coverage to an individual policy. 

(iv) Outplacement Services. Enova will pay for or reimburse you for outplacement services, not to exceed the dollar
amount and months of services specified in the following chart with respect to your position and band on your Last Day Worked. An invoice or receipt evidencing outplacement services must be provided prior to any payments and/or reimbursements being
made by Enova hereunder. Enova may provide a recommended outplacement service provider for you, but you may propose a different one for Enova’s consideration and approval. 

 

									
	 Position/Band
	  	Maximum Dollar
Amount	 	  	Maximum Months
of Services	 
	 VP (Band 97)
	  	$	7,000	  	  	 	6 months	  
	 CEO, EVP and SVP (Bands 98 – 100)
	  	$	12,000	  	  	 	12 months	  

 (v) Section 409A Compliance. 

(A) Generally. The Company intends the severance pay and benefits described above to be exempt from
Section 409A under the short-term deferral exemption and/or the separation pay exemption to the full extent available under Section 409A, and such provisions shall be interpreted accordingly. To the extent that such exemptions do not apply
to some or all of the severance pay and benefits, this Plan is intended to satisfy Section 409A and shall be interpreted accordingly. Notwithstanding anything in this Plan or the Company’s other plans to the contrary, (i) any taxable
reimbursement made under any of these plans will be made on or before the last day of the calendar year following the calendar year in which the expense to be reimbursed was incurred, (ii) the amount of such reimbursements during any calendar
year shall not affect the benefits provided in any other calendar year, except as permitted under Section 

  
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409A, and (iii) taxable continued benefits are not subject to liquidation or exchange for any other benefits. 

(B) Separation from Service. For purposes of this Plan, the term “separation from service” means
separation from service as defined in Section 409A. 
 (C) 6-Month Delay in Certain Cases.
Notwithstanding anything in Section 3(a)(i), (ii) and (iii) to the contrary, to the extent any payments made under Section 3(a)(i), (ii) and (iii) of this Plan are not exempt from Section 409A and the Eligible
Associate is a specified employee (within the meaning of Section 409A) on the date of separation from service, the payments described in Sections 3(a)(i) (ii) and (iii) shall be delayed until 6 months after the date of Eligible
Associate’s separation from service, and any payments that would otherwise be payable during such 6-month period shall be accumulated without interest and paid in a lump sum on the 6-month anniversary of the date of Eligible Associate’s
separation from service. 
 (b) Coordination of Severance Pay with Various Benefits. The amount of any severance pay
and/or benefits payable will be reduced on a dollar-for-dollar basis by any severance, separation or termination pay or benefits that the Company pays or is required to pay to you through insurance or otherwise under any plan or contract of the
Company or under any federal or state law. The provisions in subsections (i) and (ii) below are illustrative only: 
 (i) Withholding. The Company will withhold from severance pay any amounts required to be withheld pursuant to applicable federal, state or local law; any applicable insurance premiums; and any
other amounts authorized or required by Company policy including, but not limited to, withholding for garnishments, judgments or other court orders. 
 (ii) WARN Benefits. The Worker Adjustment and Retraining Notification Act and similar state laws (collectively, “WARN”) generally require employers to provide certain pay and benefits to
employees in the event that required notification procedures are not followed in advance of a plant closing or mass layoff. If the Company incurs any such liability under WARN with respect to your termination, the amount of severance pay and
benefits otherwise payable to you under this Plan will be reduced by the Company’s legally-required payments and benefits provided to you. 
  

	4.	GENERAL RELEASE 

 As a
condition to your receiving any severance pay or continued benefits (as described above) , you must sign a written release agreement (“Release”) containing any terms specified by the Company for (i) your release of the Company and its
affiliates from all claims arising from your employment or termination, (ii) your non-revocation of that release during the 7-day period applicable to age-based claims (if applicable), and (iii) your promise to comply with specified
confidentiality, noncompetition and/or nonsolicitation provisions. The Company may terminate your eligibility for severance pay and benefits if you fail to sign, or follow the terms of, this Release. You must sign the Release after your Last Day
Worked and within the time period specified by the Company in order to be eligible for any benefits under this Plan. 
  

	5.	ADMINISTRATION 

 (a)
Interpretation. The Plan Administrator (as defined in Section 6(c)(ii) below) (the “Plan Administrator”) has the exclusive authority and discretion to interpret this Plan with respect to any question arising under this Plan,
including eligibility for benefits and the amount, term, form, timing and duration of benefits. Any variation in the amount, form or terms of an individual’s benefits from the severance pay described herein will be construed as a plan amendment
affecting only that individual. The interpretations, decisions and determinations of the Plan Administrator are conclusive and binding on the Company and all of its associates, including the applicable Eligible Associates. 

  
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 (b) Rights. This Plan does not create any vested rights in any individual. In
addition, this Plan does not affect the right of the Company to conduct its business affairs, including laying off or terminating the employment of any associate. 
 (c) Amendment and Termination. The Company reserves the right to amend or terminate (in whole or in part) this Plan and the Welfare Plan at any time. 

 

	6.	SUPPLEMENTAL INFORMATION 

(a) Severance Pay Claims. 
 (i) Claims. If you do not receive severance pay or if you disagree with the amount or length of payments, you may file a claim in writing with the Plan Administrator. A response to your claim will
be provided to you within 90 days (180 days if you are notified of an extension). If your claim is denied, the Plan Administrator will provide written notice to you setting forth the specific reasons for denial and the provisions in this Plan or
other documents used to arrive at the decision. 
 (ii) Appeals. You may appeal any denial of benefits,
and you may review pertinent Plan documents to help you prepare for the appeal. Your appeal must be filed with the Plan Administrator in writing within 60 days after you receive written notice of denial of your claim. The Plan Administrator then
will consider your appeal and will notify you of its decision within 60 days (120 days if you are notified of an extension) after the filing of your appeal for review. If the Plan Administrator’s decision is unfavorable, the notification you
receive will explain the reasons for the denial and the provisions in this Plan or other documents used to arrive at the decision. 
 (b) Your Rights Under ERISA. As a participant in this Plan, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”). ERISA provides that all Plan participants will be entitled to: 
 (i) Examine, without
charge, at the Plan Administrator’s office and at other specified locations, such as worksites, all Plan documents and copies of all documents filed by this Plan with the U.S. Department of Labor, such as detailed annual reports. 

(ii) Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator. For
example, you may request a current list of participating companies under this Plan. The Plan Administrator may make a reasonable charge for the copies. 
 (iii) Receive a summary of this Plan’s annual financial report. The Plan Administrator is required by law to furnish each participant under this Plan with a copy of this summary annual report.

 In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the
operation of the employee benefit plan. The people who operate this Plan, called “fiduciaries” of this Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your
employer or any other person, may fire you or otherwise discriminate against you in any way solely in order to prevent you from obtaining a benefit or exercising your rights under ERISA. 

If your claim for a benefit is denied, in whole or in part, you must receive a written explanation of the reason for the denial. You have
the right to have this Plan review and reconsider your claim. Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials from this Plan and do not receive them within 30 days, you may file suit in a
federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan
Administrator. If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or federal court (although the court may refuse to consider your claim if you have not completed the Plan’s appeals
process as described above). If you are discriminated against for 

  
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asserting your rights, you may seek assistance from the U.S. Department of Labor. If you have any questions about this Plan, you should contact the Plan Administrator. You should contact the
nearest Area Office of the U.S. Employee Benefits Security Administration, Department of Labor, if you have any questions about this document or about your rights under ERISA. 
 (c) General Information. 
 (i) Name, Address, and Telephone
Number of the Plan Sponsor: 
 Enova International, Inc. 

200 West Jackson Boulevard 
 Chicago, Illinois 60606 
 (ii) Name, Address, and Telephone Number
of the Plan Administrator: 
 Senior Director, Human Resources 

Enova International, Inc. 
 200 West Jackson Boulevard 
 Chicago, Illinois 60606 

(312) 568-4200 
 (iii) Plan Name: The Enova International, Inc. Severance Pay Plan for Executives (as described herein) is a benefit provided under, and a part of, the Enova, Inc. Group Benefit Plan. 

(iv) Type of Plan: The Enova International, Inc. Severance Pay Plan for Executives provides severance benefits, and the
remainder of the Welfare Plan provides other welfare benefits. 
 (v) Plan Number Assigned to this Plan: 501

 (vi) Plan Year: January 1 – December 31 

(vii) Type of Administration: Self-Administration 

(viii) Employer Identification Number of Plan Sponsor: 45-3190813 

(ix) Agent for Legal Process: Legal process regarding any matter related to this Plan may be served on the Company’s
General Counsel at the address listed above. 
 (x) Funding Medium: Benefits are payable solely from the general
assets of the Company. 
  

					
	December                     , 2011	 	ENOVA INTERNATIONAL, INC.
			
		 	BY:	 	  

			
		 	TITLE:	 	  

  
 7Form of Senior Executive Bonus Plan

 Exhibit 10.17 
 ENOVA INTERNATIONAL, INC. 
 SENIOR EXECUTIVE BONUS PLAN 

SECTION 1 

ESTABLISHMENT AND PURPOSE 
 1.1 Purpose. Enova International, Inc. hereby establishes the Enova International, Inc. Senior Executive Bonus Plan (the “Plan”). The Plan is intended to increase stockholder value and
the success of the Company by motivating key executives (a) to perform to the best of their abilities, and (b) to achieve the Company’s objectives. The Plan’s goals are to be achieved by providing such executives with incentive
awards based on the achievement of goals relating to performance of the Company and its individual business units. Amounts paid under the Plan are intended to qualify as performance based compensation under Code Section 162(m). 

1.2 Effective Date. The Plan shall be effective as of January 1, 2012. The payment of any Actual Award under the Plan on or
after the date of the first Annual Meeting of Stockholders held more than twelve months after date on which the Company becomes a publicly held corporation within the meaning of Code Section 162(m) shall be subject to the approval of the Plan
by a majority of the shares of the Company’s common stock that are present in person or by proxy and entitled to vote at the 2012 Annual Meeting of Stockholders. As long as the Plan remains in effect, it shall be resubmitted to stockholders as
necessary to enable the Plan to continue to qualify as performance-based compensation under Code Section 162(m). 

SECTION 2 

DEFINITIONS 
 The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 2.1 “Actual Award” means, as to any Plan Year, the actual award (if any) payable to a Participant for the Plan Year. An Actual Award is determined by the Payout Formula for the Plan Year,
subject to the Committee’s authority under section 3.5 to reduce the award otherwise determined by the Payout Formula. 

2.2 “Affiliate” means any entity that, directly or indirectly through one or more intermediaries, is controlled by,
controlling or under common control with the Company. 
 2.3 “Base Salary” means, as to any Plan Year, 100% of
the base salary actually paid during the Plan Year. Such Base Salary shall be before both (a) deductions 

 
for taxes or benefits, and (b) deferrals of compensation pursuant to Company-sponsored plans. 
 2.4 “Board” means the Company’s Board of Directors. 
 2.5
“Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific Section of the Code shall include such Section, any valid regulation promulgated thereunder, and any comparable provision of any future legislation
or regulation amending, supplementing, or superseding such Section or regulation. 
 2.6 “Committee” means the
Management Development and Compensation Committee of the Board or such other committee as may be appointed by the Board to administer the Plan. The Committee shall consist of no fewer than two members of the Board. The members of the Committee shall
be appointed by, and serve at the pleasure of, the Board. Each member of the Committee shall qualify as an “outside director” under Code Section 162(m). 
 2.7 “Company” means Enova International, Inc., a Delaware corporation. 
 2.8 “Determination Date” means as to any Plan Year, (a) the first day of the Plan Year, or (b) if later, the latest date possible which will not jeopardize the Plan’s
qualification as performance-based compensation under Code Section 162(m). 
 2.9 “Disability” means a
permanent and total disability determined in accordance with uniform and nondiscriminatory standards adopted by the Committee from time to time. 
 2.10 “Maximum Award” means as to any Participant for any Plan Year, Two Million Five Hundred Thousand ($2,500,000) Dollars. The Maximum Award is the maximum amount which may be paid to a
Participant for any Plan Year. 
 2.11 “Participant” means, as to any Plan Year, an officer of the Company who
has been selected by the Committee for participation in the Plan for that Plan Year. 
 2.12 “Payout Formula”
means, as to any Plan Year, the formula or payout matrix established by the Committee pursuant to Section 3.4, below, in order to determine the Actual Awards (if any) to be paid to Participants. The Payout Formula may differ from
Participant to Participant. 
 2.13 “Performance Goals” means the goal(s) (or combined goal(s)) determined by
the Committee (in its discretion) to be applicable to a Participant for a Plan Year. As determined by the Committee, such Performance Goals shall be based on the attainment of one or more of the following objective measures with respect to the
Company or an Affiliate, or such subsidiary, division or department of the Company or an Affiliate for or within which the Participant performs services: revenue growth; earnings before interest, taxes, depreciation, and amortization; earnings
before interest and taxes; operating income; pre- or after-tax income; pre- or after-tax income from continuing operations; 

  
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pre-or after-tax income excluding extraordinary items; earnings per share; earnings per share from continuing operations; earnings per share excluding extraordinary, unusual or nonrecurring
items; cash flow; cash flow per share; return on equity; return on invested capital; return on assets; economic value added (or an equivalent metric); share price performance; total stockholder return; improvement in or attainment of expense levels;
and/or improvement in or attainment of working capital levels. Performance Goals shall be set by the Committee in writing within the time period prescribed by Section 162(m) of the Code so that the outcome is substantially uncertain at the time
the Performance Goals are established. Such Performance Goals also may be based upon the attaining of specified levels of Company performance under one or more of the measures described above relative to the performance of other companies.

 2.14 “Plan Year” means the first full fiscal year of the Company beginning on the Effective Date and each
succeeding fiscal year of the Company. 
 2.15 “Target Award” means the target award payable under the Plan to
a Participant for the Plan Year, which may be expressed as a percentage of his or her Base Salary or on any other basis as determined by the Committee in accordance with Section 3.3. 

SECTION 3 

SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 
 3.1 Selection of Participants. On or prior to the Determination Date, the Committee, in its sole discretion, shall select the officers of the Company who shall be Participants for the Plan Year. In
selecting Participants, the Committee shall choose officers who are likely to have a significant impact on the performance of the Company. Participation in the Plan is in the sole discretion of the Committee, and on a Plan Year by Plan Year basis.
Accordingly, an officer who is a Participant for a given Plan Year in no way is guaranteed or assured of being selected for participation in any subsequent Plan Year or Years. 
 3.2 Determination of Performance Goals. On or prior to the Determination Date, the Committee, in its sole discretion, shall establish the Performance Goals for each Participant for the Plan Year.
Such Performance Goals shall be set forth in writing. 
 3.3 Determination of Target Awards. On or prior to the
Determination Date, the Committee, in its sole discretion, shall establish a Target Award for each Participant. Each Participant’s Target Award shall be determined by the Committee in its sole discretion, and each Target Award shall be set
forth in writing. 
 3.4 Determination of Payout Formula or Formulae. On or prior to the Determination Date, the
Committee, in its sole discretion, shall establish a Payout Formula or Formulae for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout Formula shall (a) be in writing, (b) be based on a

  
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comparison of actual performance to the Performance Goals, (c) provide for the payment of a Participant’s Target Award if the Performance Goals for the Plan Year are achieved, and
(d) provide for an Actual Award greater than or less than the Participant’s Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance Goals. Notwithstanding the preceding, no
Participant’s Actual Award under the Plan may exceed his or her Maximum Award. 
 3.5 Determination of Actual Awards.
After the end of each Plan Year, the Committee shall certify in writing the extent to which the Performance Goals applicable to each Participant for the Plan Year were achieved or exceeded. The Actual Award for each Participant shall be
determined by applying the Payout Formula to the level of actual performance which has been certified by the Committee. Notwithstanding any contrary provision of the Plan, (a) the Committee, in its sole discretion, may eliminate or reduce the
Actual Award payable to any Participant below that which otherwise would be payable under the Payout Formula, (b) if a Participant terminates employment with the Company prior to January 1 of the year following the Plan Year, including by
reason of Disability or death, he or she shall not be entitled to the payout of an Actual Award for the Plan Year, provided; however, that the Committee, in its discretion, may pay a Participant all or a portion of the Target Award actually earned
for the Plan Year. 
 SECTION 4 
 PAYMENT OF AWARDS 
 4.1 Right to Receive Payment. Each Actual Award
that may become payable under the Plan shall be paid solely from the general assets of the Company. Nothing in this Plan shall be construed to create a trust or to establish or evidence any Participant’s claim of any right other than as an
unsecured general creditor with respect to any payment to which he or she may be entitled. 
 4.2 Timing of Payment.
Payment of each Actual Award shall be made between January 2 and March 15, inclusive, following the end of the Plan Year during which the Award was earned. 
 4.3 Form of Payment. Each Actual Award shall be paid in a single lump sum, and shall normally be paid in cash (or its equivalent). 

4.4 Other Deferral of Actual Awards. The Committee may establish one or more programs under the Plan to permit selected
Participants the opportunity to elect to defer receipt of Actual Awards. The Committee may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts
so deferred and such other terms, conditions, rules and procedures that the Committee deems advisable for the administration of any such deferral program. The establishment, terms and operations of any such program shall be executed in a manner that
complies with Code Section 409A. For any Actual Awards that provide nonqualified deferred compensation subject to Code Section 409A(a)(2), 

  
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payment of the Award to a “specified employee,” as defined in Code Section 409A, upon separation from service, to the extent required under Code Section 409A, shall not be
made before six months after the date on which the separation from service occurs. The Plan generally is intended to provide awards that qualify as short-term deferrals exempt from Code Section 409A. To the extent that any Actual Awards are
deferred hereunder, this Plan is intended to comply with Code Section 409A, and shall be interpreted accordingly. 
 4.5
Payments in the Event of Death. If a Participant dies prior to the payment of an Actual Award earned by him or her for a prior Plan Year, the Actual Award shall be paid to his or her estate. 

SECTION 5 

ADMINISTRATION 
 5.1 Committee is the Administrator. The Plan shall be administered by the Committee. 
 5.2 Committee Authority. The Committee shall have all discretion and authority necessary or appropriate to administer the Plan and to interpret the provisions of the Plan, consistent with
qualification of the Plan as performance-based compensation under Code Section 162(m). Any determination, decision or action of the Committee in connection with the construction, interpretation, administration or application of the Plan shall
be final, conclusive and binding upon all persons, and shall be given the maximum deference permitted by law. 
 5.3 Tax
Withholding. The Company shall withhold all applicable taxes from any payment, including any federal, foreign, state and local taxes. 
 SECTION 6 
 GENERAL PROVISIONS 

6.1 Nonassignability. A Participant shall have no right to encumber, assign or transfer any interest under this Plan. 

6.2 No Effect on Employment. The establishment and subsequent operation of the Plan, including eligibility as a Participant, shall
not be construed as conferring any legal or other rights upon a Participant for the continuation of his or her employment of any Plan Year or any other period. Generally, employment with the Company is on an at will basis only. Except as may be
provided in an employment contract with the Participant, the Company expressly reserves the right, which may be exercised at any time and without regard to when during a Plan Year such exercise occurs, to terminate any individual’s employment
without cause, and to treat him or her without regard to the effect which such treatment might have upon him or her as a Participant. 

  
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 6.3 No Individual Liability. No member of the Committee or the Board, or any officer
of the Company, shall be liable for any determination, decision or action made in good faith with respect to the Plan or any award under the Plan. 
 6.4 Severability; Governing Law. If any provision of the Plan is found to be invalid or unenforceable, such provision shall not affect the other provisions of the Plan, and the Plan shall be
construed in all respects as if such invalid provision has been omitted. The provisions of the Plan shall be governed by and construed in accordance with the laws of the State of Illinois, with the exception of Illinois’ conflict of laws
provision. 
 6.5 Affiliates of the Company. Requirements referring to employment with the Company or payment of awards
may, in the Committee’s discretion, be performed through the Company or any Affiliate of the Company. 
 6.6
Compensation Recovery. Notwithstanding anything in the Plan to the contrary, in the event that the Company is required to materially restate its financial results due to the Company’s material noncompliance with any financial reporting
requirement under Federal securities laws, excluding a material restatement of such financial results due solely to a change in generally accepted accounting principles in the United States or such other accounting principles that may be adopted by
the Securities and Exchange Commission and are or become applicable to the Company, and such accounting restatement is required at any time within two years following the applicable incentive payment date, the Committee may, in its discretion or as
necessary to comply with applicable law, require the Participant to repay to the Company and/or its subsidiaries or affiliates, an amount equal to all or any portion of the incentive payment received under the Plan with respect to the applicable
incentive payment date as may be determined to be appropriate or necessary by the Committee or as may be required by applicable law. Such repayment obligation shall be effective as of the date specified by the Committee. Any repayment obligation
will be satisfied in cash or in such other form of consideration, such as shares of stock of the Company, permitted by applicable law and acceptable to the Committee, and the Committee may provide for an offset to any future payments owed by the
Company or any of its subsidiaries or affiliates to the Participant if necessary to satisfy the repayment obligation; provided, however, that if any such offset is prohibited under applicable law, the Committee shall not permit any such offset and
may require immediate repayment by the Participant. Notwithstanding the foregoing, to the extent required to comply with applicable law, any applicable stock exchange listing requirements and/or any compensation recovery or clawback policy adopted
by the Company after the Effective Date, the Company may unilaterally amend this Compensation Recovery provision, and any such amendment shall be made by providing notice of such amendment to each Participant affected by the amendment, and such
amendment shall be binding on each such Participant; provided, however, regardless of whether the Company makes such a unilateral amendment to this Compensation Recovery provision or provides such notice to Participant, Participant shall be bound by
any compensation recovery or clawback policy adopted by the Company after the Effective Date. 

  
 6 

 SECTION 7 
 AMENDMENT AND TERMINATION 
 7.1 Amendment and Termination. The Board
may amend or terminate the Plan at any time and for any reason; provided, however, that if and to the extent required to ensure the Plan’s qualification under Code Section 162(m), any such amendment shall be subject to stockholder
approval. 

  
 7

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