Document:

Exhibit 4.3

     

    
      
        	 	 
      

      

       

      MRM/fcn

       

      
        	
                15
      February 2008

                 

                Strictly
      Private & Confidential

                 

                L K
      Fish Esq

                [         
    ]

              	
                Head
      Office

                Gogarburn

                PO
      Box 1000

                Edinburgh
      EH 12 1HQ

                Telephone:
      0131 556 8555

                Facsimile:
      0131 626 3081

                www.rbs.co.uk

              

      

       

       

      Dear
Larry,

       

      I am
pleased to confirm formally the terms of your appointment as a Non-executive
Director of The Royal Bank of Scotland Group plc (“the Group”), The Royal Bank
of Scotland plc (“the Royal Bank”) and National Westminster Bank Plc
(“NatWest”), (together “RBS” or “the Companies”), with effect from April 30,
2008.

       

      As
agreed, you are aware that effective from January 1 2008 onwards, you have
assumed the role of Non-executive Chairman, RBS America and Citizens Financial
Group. We have agreed that whilst you will continue as an employee of Citizens
until your official retirement on April 30, 2008, subsequent to that date the
arrangements that will apply are as set out in this letter, in the form of a
contract for services and not a contract of employment.

       

      Appointment

       

      Your
appointment as a Non-executive Director RBS will be for an initial term expiring
October 9, 2009, unless otherwise terminated earlier by, and at the discretion
of, either party upon written notice. Continuation of your appointment is
contingent on your contribution to the Board and re-election at the appropriate
Annual General Meetings in accordance with the terms of the Articles of
Association of the Companies.

       

      
         

        
          	 	
                  The Royal
      Bank of Scotland Group pIc

                  Registered
      in Scotland No.45551

                  Registered
      Office: 36 St Andrew Square

                  Edinburgh EH2 2YB

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

          
            
              	 	 
      

            

             

          

        

         

      

      Time
Commitment

       

      Overall
we anticipate a combined time commitment for these duties of two days per week.
This will include attendance at the regular Board meetings of the Companies, the
Annual General Meetings of the Companies and the annual Group Board strategy
offsite.

       

      By
accepting this appointment, you have confirmed that you are able to allocate
sufficient time to meet the expectations of your role. You will be expected to
devote appropriate preparation time ahead of each meeting. The agreement of the
Chairman should be sought before accepting additional commitments that might
affect the time you are able to devote to your role as a Non-executive Director
of the Companies.

       

      Role

       

      You will
retain the same legal responsibilities as before as Non-executive Directors have
the same legal responsibilities to the Companies as any other Director. Each
Board as a whole is collectively responsible for promoting the success of the
relevant Company by directing and supervising that Company’s affairs. Details of
the principal responsibilities and areas of interest of the Non-executive
Directors of the Companies are contained in the enclosed Non-executive Director
role profile.

       

      Fees
and administrative support

       

      Your fees
for your combined duties beginning January 1, 2008 are $600,000 per annum,
payable on a bi-weekly basis. This is inclusive of the standard Non-executive
Directors’ fee which is currently set at £70,000 per annum which covers
membership of the three Boards of the Companies. The fees are subject to annual
review by the Board and are disclosed in the Group's Report and Accounts. The
Group will reimburse you for all reasonable and properly documented expenses you
incur in performing your duties in accordance with Citizens’ travel and expenses
policies.

       

      To
support you in your new duties you will retain the services of your current
administrative support (two full-time employees, a Providence based Scheduler
and a Boston based secretary). Additionally you will be provided with a car and
driver for business purposes relating to RBS and, with the agreement of the
Chief Executive RBS America, will be able to use the corporate aircraft to
travel for business purposes relating to RBS and Citizens.

       

      For the
avoidance of doubt I confirm that you will not be eligible to participate in any
Citizens or RBS incentive compensation plan, whether annual or long term for

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

          
            
              	 	 
      

            

             

          

        

      

       

      any
services after January 1, 2008. I am pleased, however to confirm that you will
continue to receive all existing employee benefits until your retirement date of
April 30, 2008, with the exception that you will no longer be eligible for the
Citizens charitable gift matching benefit of $1 million.

       

      Upon your
official retirement from Citizens on April 30, 2008 you will be eligible to
commence your retirement benefits in accordance with the terms of the Citizens
retirement plans. For the purposes of Section 409A of the Internal Revenue Code,
you will be deemed to have incurred a separation from service on December 31,
2007. You will also be eligible to receive retiree health benefits in accordance
with the terms of the Citizens retiree health plan, beginning May 1,
2008.

       

      Outside
Interests

       

      It is
accepted and acknowledged that you may have business interests other than those
of the Companies and have declared any potential conflicts of interest that are
apparent at present. In the event that you become aware of any potential
conflicts of interest, these should be disclosed to the Chairman and Group
Secretary and General Counsel as soon as they are apparent to you.

       

      Confidentiality

       

      All
information acquired during your appointment is confidential to the Companies
and should not be released, either during your appointment or following
termination of your appointment to third parties without prior written clearance
from the Chairman.

       

      As a
Director, you will frequently be in possession of price sensitive information
and you should avoid making any statements that might risk disclosure of
unpublished price sensitive information.

       

      For
completeness, I should be grateful if you would sign, date and return the
enclosed Declaration of Secrecy at your earliest convenience in the envelope
provided. Please note that the Declaration should also be signed and dated by an
independent witness with his/her signing particulars being inserted in the
relevant section of the Declaration.

       

      Review
Process

       

      The
performance of individual Directors and the whole Board and its Committees is
evaluated annually. If, in the interim, there are any matters which cause you
concern about your role, you should discuss them with the Chairman as soon as is
appropriate.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

          
            
              	 	 
      

            

             

          

        

         

      

      Insurance

       

      Subject
to legislative provisions, you will be entitled to be indemnified out of the
assets of the Group against all costs and liabilities incurred by you in the
execution of your duties.

       

      In
addition, the Group has in place directors’ and officers’ liability insurance.
It is intended to maintain such cover for the full term of your appointment. A
summary of the policy document is enclosed.

       

      Independent
Professional Advice

       

      Very
occasionally a situation may arise when you consider that you need to take
independent professional advice in furtherance of your duties as a Director. If
you should ever feel that such advice is necessary, you should first discuss the
situation with the Chairman, the Senior Independent Director or the Group
Secretary and General Counsel. Thereafter if you still wish to obtain
independent advice you may do so at the Companies’ expense.

       

      Dealing
in Securities/Investments

       

      As a
Director, you are subject to the Group’s Model Code, which imposes restrictions
on dealing in securities. The main restrictions imposed by the Code are that you
cannot deal in Group securities at certain times (close periods), that you
cannot deal when you are in possession of inside information and that you cannot
deal without first obtaining permission from the appropriate person as set out
in the Code. A copy of the Group’s Securities Transactions by Directors and GEMC
Members booklet is enclosed.

       

      Status
of Employment Agreement

       

      This
letter supersedes Sections 1 through 7 (inclusive) and Sections 12(b) and 12(h)
of your Employment Agreement with Citizens Financial Group, Inc. dated as of
February 18, 2004.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

           

          
            
              	 	 
      

            

             

          

        

         

      

      Please do
not hesitate to contact me if you have any questions in relation to this letter.
This letter has been sent to you in duplicate. Please sign and date both copies,
retaining one copy for your records and returning the other to me.

       

      Yours
sincerely

       

      
        	
                /s/
      Miller McLean

              	 
	
                Miller
      McLean

                Group
      Secretary and General Counsel

              	 

      

       

      
        	
                /s/
      Lawrence Fish

              	 
      	
                2/28/08

              	 
	
                Lawrence
      Fish

              	 
      	
                Date

              	 

      

      

       

      Enc:

       

      Copy
letter — for your
signature

      Declaration
of Secrecy — for your
signature

      Non-executive
Director Role Profile

      Summary
of Director and Officer Liability Insurance

      Securities
Transactions by Directors and GEMC MembersEX-4.4

 

    EXHIBIT 4.4

 

    DRESSER-RAND
    GROUP INC.

    2008 STOCK INCENTIVE PLAN

 

		
	
    1.  
	
    Purpose

 

    The purpose of the Dresser-Rand Group Inc. 2008 Stock Incentive
    Plan (the “Plan”) is to advance the interests of
    Dresser-Rand Group Inc. (the “Company”) by enabling
    the Company and its Subsidiaries and Affiliates to attract,
    retain and motivate employees by providing for or increasing the
    proprietary interests of such individuals in the Company, and by
    enabling the Company to attract, retain and motivate its
    nonemployee directors and service providers who have been
    retained to provide consulting, advisory or other services and
    further align their interests with those of the stockholders of
    the Company by providing for or increasing the proprietary
    interests of such employees, directors and service providers in
    the Company. The Plan supersedes the Company’s existing
    2005 Stock Incentive Plan and 2005 Directors Stock
    Incentive Plan with respect to future awards, and provides for
    the grant of Incentive and Nonqualified Stock Options, Stock
    Appreciation Rights, Common Shares, Restricted Stock and
    Restricted Stock Units, any of which may be performance-based,
    and for Incentive Bonuses, which may be paid in cash or stock or
    a combination thereof, as determined by the applicable
    committee. On and after the Effective Date, no further grants
    shall be made under either the 2005 Stock Incentive Plan and
    2005 Directors Stock Incentive Plan, which plans shall
    remain in effect solely as to outstanding awards thereunder.

 

		
	
    2.  
	
    Definitions

 

    As used in the Plan, the following terms shall have the meanings
    set forth below:

 

    (a) “Affiliate” means, with respect to any
    person, any other person controlling, controlled by, or under
    common control with such person.

 

    (b) “Annual Grant” means an Award of Common
    Shares or the right to receive Common Shares or another form of
    Award under the Plan that comprises part of the annual fees
    payable to a Nonemployee Director for his or her service as a
    member of the Board, which such Award shall have a Fair Market
    Value as shall be determined by the Board of Directors or a
    committee thereof from time to time, and which shall initially
    equal $90,000.

 

    (c) “Award” means an award of an Incentive Stock
    Option, Nonqualified Stock Option, Stock Appreciation Right,
    Common Share, Restricted Stock, Restricted Stock Unit or
    Incentive Bonus granted to a Participant pursuant to the
    provisions of the Plan, any of which the Committee may structure
    to qualify in whole or in part as a Performance Award.

 

    (d) “Award Agreement” means a written agreement
    or other instrument as may be approved from time to time by the
    Committee implementing the grant of each Award. An Agreement may
    be in the form of an agreement to be executed by both the
    Participant and the Company (or an authorized representative of
    the Company) or certificates, notices or similar instruments as
    approved by the Committee. In addition, to the extent a
    services, severance, employment or similar agreement between a
    Participant and the Company or any of its Subsidiaries or
    Affiliates includes provisions relating to an Award, such
    agreement shall be treated as an Award Agreement.

 

    (e) “Board” means the board of directors of the
    Company.

 

    (f) “Cause” means, unless otherwise provided in
    an Award Agreement, a Participant’s termination of
    employment as a result of such Participant’s
    (i) refusal or neglect to perform substantially his or her
    employment-related duties, (ii) personal dishonesty,
    incompetence, willful misconduct or breach of fiduciary duty
    (whether or not affecting the Company or any of its Subsidiaries
    or Affiliates), (iii) indictment or conviction of a crime
    constituting a felony or willful violation of any applicable law
    (other than a traffic violation or other offense or violation
    outside of the course of employment that in no way adversely
    affects the Company or any of its Subsidiaries and Affiliates or
    their reputations or the ability of the Participant to perform
    his or her employment-related duties or to represent the Company
    or any of its Subsidiaries or Affiliates) or

    

    1

 

    (iv) material breach of any written covenant or agreement
    with the Company or any of its Subsidiaries or Affiliates not to
    disclose any information pertaining to the Company or its
    Subsidiaries or Affiliates or not to compete or interfere with
    the Company or its Subsidiaries or Affiliates or their suppliers
    or customers; provided, however, that (x) in the case of
    any Participant who, as of the date of determination, is party
    to an effective services, severance, employment or similar
    agreement with the Company or any of its Subsidiaries or
    Affiliates, “Cause” shall have the meaning, if any,
    specified in such agreement, (y) the Committee shall
    determine whether a Participant’s employment is a
    termination for Cause and shall deem a Participant’s
    termination of employment to be for Cause if following the date
    the Participant’s employment terminates, it determines that
    circumstances exist such that the Participant’s employment
    could have been terminated for Cause; and (z) the Committee
    may waive the consequences under the Plan of the existence or
    occurrence of any of the events, acts or omissions constituting
    Cause.

 

    (g) “Change in Control” means the first to occur
    of any of the following events:

 

    (i) during any
    12-month
    period, the members of the Board (the “Incumbent
    Directors”) cease for any reason other than due to death or
    disability to constitute at least a majority of the members of
    the Board, provided that any director whose election, or
    nomination for election by the Company’s stockholders, was
    approved by a vote of at least a majority of the members of the
    Board who are at the time Incumbent Directors shall be
    considered an Incumbent Director, other than any such individual
    whose initial assumption of office occurs as a result of an
    actual or threatened election contest with respect to the
    election or removal of directors or other actual or threatened
    solicitation of proxies or consents by or on behalf of a person
    other than the Board;

 

    (ii) the acquisition or ownership by any individual, entity
    or “group” (within the meaning of
    Section 13(d)(3) of the Securities Exchange Act of 1934, as
    amended (the “Exchange Act”)), other than the Company
    or any of its Affiliates or Subsidiaries, or any employee
    benefit plan (or related trust) sponsored or maintained by the
    Company or any of its Affiliates or Subsidiaries, of beneficial
    ownership (within the meaning of
    Rule 13d-3
    promulgated under the Exchange Act) of 50% or more of the
    combined voting power of the Company’s then outstanding
    voting securities entitled to vote generally in the election of
    directors;

 

    (iii) the merger, consolidation or other similar
    transaction of the Company, as a result of which the
    stockholders of the Company immediately prior to such merger,
    consolidation or other transaction, do not, immediately
    thereafter, beneficially own, directly or indirectly, more than
    50% of the combined voting power of the voting securities
    entitled to vote generally in the election of directors of the
    merged, consolidated or other surviving company; and

 

    (iv) the sale, transfer or other disposition of all or
    substantially all of the assets of the Company to one or more
    persons or entities that are not, immediately prior to such
    sale, transfer or other disposition, Affiliates of the Company.

 

    A “Change in Control” shall not be deemed to occur if
    the Company undergoes a bankruptcy, liquidation or
    reorganization under the United States Bankruptcy Code.

 

    (h) “Change in Control Price” means the price per
    Common Share on a fully-diluted basis offered in conjunction
    with any transaction resulting in a Change in Control as
    determined in good faith by the Committee as constituted before
    the Change in Control, or in the case of a Change in Control
    occurring solely by reason of a change in the composition of the
    Board, the average Fair Market Value of a Common Share on the 30
    trading days immediately preceding the date on which a Change in
    Control occurs.

 

    (i) “Code” means the Internal Revenue Code of
    1986, as amended from time to time, and the rulings and
    regulations issues thereunder.

 

    (j) “Committee” means the Committee delegated the
    authority to administer the Plan in accordance with
    Section 18. To the extent the Committee has delegated
    authority to any person(s) pursuant to Section 18(a), a
    reference to the Committee herein shall also include such
    person(s).

    

    2

 

    (k) “Common Share” means a share of the
    Company’s common stock, par value $0.01 per share, subject
    to adjustment as provided in Section 13.

 

    (l) “Company” means Dresser-Rand Group Inc., a
    Delaware corporation.

 

    (m) “Disability” means, unless otherwise provided
    in an Award Agreement, any termination of a Participant’s
    employment under such circumstances that the Committee
    determines to qualify as a Disability for purposes of the Plan;
    provided, that, in the case of any Participant who, as of the
    date of determination, is party to an effective services,
    severance, employment or similar agreement with the Company or
    any Subsidiary or Affiliate, “Disability” shall have
    the meaning, if any, specified in such agreement.

 

    (n) “Fair Market Value” means, as of any given
    date, the closing sales price on such date during normal trading
    hours (or, if there are no reported sales on such date, on the
    last date prior to such date on which there were sales) of the
    Common Shares on the New York Stock Exchange Composite Tape or,
    if not listed on such exchange, on any other national securities
    exchange on which the Common Shares are listed or on NASDAQ, in
    any case, as reporting in such source as the Committee shall
    select. If there is no regular public trading market for such
    Common Shares, the Fair Market Value of the Common Shares shall
    be determined by the Committee in good faith and in compliance
    with Section 409A of the Code.

 

    (o) “Incentive Bonus” means a bonus opportunity
    awarded under Section 9 pursuant to which a Participant may
    become entitled to receive an amount based on satisfaction of
    such performance criteria as are specified in the Award
    Agreement.

 

    (p) “Incentive Stock Option” means a stock option
    that is intended to qualify as an “incentive stock
    option” within the meaning of Section 422 of the Code.

 

    (q) “Nonemployee Director” means each person who
    is, or is elected to be, a member of the Board and who is not an
    employee of the Company or any Subsidiary.

 

    (r) “Nonqualified Stock Option” means a stock
    option that is not intended to qualify as an “incentive
    stock option” within the meaning of Section 422 of the
    Code.

 

    (s) “Option” means an Incentive Stock Option
    and/or a
    Nonqualified Stock Option granted pursuant to Section 6 of
    the Plan.

 

    (t) “Participant” means any individual described
    in Section 3 to whom Awards have been granted from time to
    time by the Committee and any authorized transferee of such
    individual.

 

    (u) “Performance Award” means an Award, the
    grant, issuance, retention, vesting or settlement of which is
    subject to satisfaction of one or more performance criteria
    pursuant to Section 14.

 

    (v) “Plan” means the Dresser-Rand Group Inc. 2008
    Stock Incentive Plan as set forth herein and as amended from
    time to time.

 

    (w) “Prior Plans” means the Dresser-Rand Group
    Inc. 2005 Stock Incentive Plan and the Dresser-Rand Group Inc.
    2005 Directors Stock Incentive Plan.

 

    (x) “Qualifying Performance Criteria” has the
    meaning set forth in Section 14(b).

 

    (y) “Restricted Stock” means Common Shares
    granted pursuant to Section 8 of the Plan.

 

    (z) “Restricted Stock Unit” means an Award
    granted to a Participant pursuant to Section 8 pursuant to
    which Common Shares or cash in lieu thereof may be issued in the
    future.

 

    (aa) “Stock Appreciation Right” means a right
    granted pursuant to Section 7 of the Plan that entitles the
    Participant to receive, in cash or Common Shares or a
    combination thereof, as determined by the Committee, value equal
    to or otherwise based on the excess of (i) the Fair Market
    Value of a specified number of Common Shares at the time of
    exercise over (ii) the exercise price of the right, as
    established by the Committee on the date of grant.

    

    3

 

    (bb) “Subsidiary” means any corporation (other
    than the Company) in an unbroken chain of corporations beginning
    with the Company where each of the corporations in the unbroken
    chain other than the last corporation owns stock possessing at
    least 50 percent or more of the total combined voting power
    of all classes of stock in one of the other corporations in the
    chain, and if specifically determined by the Committee in the
    context other than with respect to Incentive Stock Options, may
    include an entity in which the Company has a significant
    ownership interest or that is directly or indirectly controlled
    by the Company.

 

    (cc) “Substitute Awards” means Awards granted or
    Common Shares issued by the Company in assumption of, or in
    substitution or exchange for, awards previously granted, or the
    right or obligation to make future awards, by a corporation
    acquired by the Company or any Subsidiary or Affiliate or with
    which the Company or any Subsidiary or Affiliate combines.

 

		
	
    3.  
	
    Eligibility

 

    Any person who is an officer or employee of the Company or of
    any Subsidiary or Affiliate (including any director who is also
    an employee, in his or her capacity as such) shall be eligible
    for selection by the Committee for the grant of Awards
    hereunder. In addition, Nonemployee Directors shall be eligible
    for the grant of Awards hereunder as determined by the
    Committee, including, as applicable, the automatic Annual Grants
    pursuant to Section 10. In addition any service provider
    who has been retained to provide consulting, advisory or other
    services to the Company or to any Subsidiary or Affiliate shall
    be eligible for selection by the Committee for the grant of
    Awards hereunder. Options intending to qualify as Incentive
    Stock Options may only be granted to employees of the Company or
    any Subsidiary within the meaning of the Code, as selected by
    the Committee.

 

		
	
    4.  
	
    Effective
    Date and Termination of Plan

 

    This Plan was adopted by the Board through delegation to the
    Compensation Committee on March 10, 2008, and shall become
    effective on May 13, 2008 (the “Effective Date”)
    if approved by the Company’s stockholders at the annual
    meeting of stockholders on May 13, 2008. All Awards granted
    under this Plan are subject to, and may not be exercised before,
    the approval of this Plan by the stockholders (which approval
    must in all events be no later than March 10, 2009, and
    must be by the affirmative vote of the holders of a majority of
    the outstanding Common Shares of the Company present, or
    represented by proxy, and entitled to vote, at the meeting of
    the Company’s stockholders commencing on May 13,
    2008). The Plan shall remain available for the grant of Awards
    until March 10, 2018. Notwithstanding the foregoing, the
    Plan may be terminated at such earlier time as the Board may
    determine. Termination of the Plan will not affect the rights
    and obligations of the Participants and the Company arising
    under Awards theretofore granted and then in effect.

 

		
	
    5.  
	
    Common
    Shares Subject to the Plan and to Awards

 

    (a) Aggregate Limits.  The aggregate
    number of Common Shares issuable pursuant to all Awards under
    this Plan shall not exceed six million (6,000,000) Common
    Shares. The aggregate number of Common Shares available for
    grant under this Plan and the number of Common Shares subject to
    outstanding Awards shall be subject to adjustment as provided in
    Section 13. The Common Shares issued pursuant to Awards
    granted under this Plan may be shares that are authorized and
    unissued or shares that were reacquired by the Company,
    including shares purchased in the open market. Following the
    Effective Date, no further awards shall be granted under the
    Prior Plans if the Company’s shareholders approve this Plan
    on the Effective Date.

 

    (b) Issuance of Common Shares.  For
    purposes of this Section 5, the aggregate number of Common
    Shares available for Awards under this Plan at any time shall
    not be reduced by shares subject to Awards that have been
    terminated, expired unexercised, forfeited or settled in cash.

 

    (c) Tax Code Limits.  The aggregate number
    of Common Shares subject to Awards granted under this Plan
    during any calendar year to any one Participant shall not exceed
    eight hundred thousand (800,000), which number shall be
    calculated and adjusted pursuant to Section 13. The
    aggregate number of Common Shares that may be issued pursuant to
    the exercise of Incentive Stock Options granted under this Plan
    shall not exceed six million (6,000,000), which number shall be
    calculated and adjusted pursuant to Section 13 only to the
    extent that such calculation or adjustment will not affect the
    status of any option intended to qualify as an Incentive Stock
    Option

    

    4

 

    under Section 422 of the Code. The maximum cash amount
    payable pursuant to that portion of an Incentive Bonus granted
    in any calendar year to any Participant under this Plan that is
    intended to satisfy the requirements for “performance-based
    compensation” under Section 162(m) of the Code shall
    not exceed $10,000,000.

 

    (d) Substitute Awards.  Substitute Awards
    shall not reduce the Common Shares authorized for issuance under
    the Plan or authorized for grant to a Participant in any
    calendar year. Additionally, in the event that a corporation
    acquired by the Company or any Subsidiary or Affiliate, or with
    which the Company or any Subsidiary or Affiliate combines, has
    shares available under a pre-existing plan approved by
    stockholders and not adopted in contemplation of such
    acquisition or combination, the shares available for grant
    pursuant to the terms of such pre-existing plan (as adjusted, to
    the extent appropriate, using the exchange ratio or other
    adjustment or valuation ratio or formula used in such
    acquisition or combination to determine the consideration
    payable to the holders of common stock of the entities party to
    such acquisition or combination) may be used for Awards under
    the Plan and shall not reduce the Common Shares authorized for
    issuance under the Plan; provided that Awards using such
    available shares shall not be made after the date awards or
    grants could have been made under the terms of the pre-existing
    plan, absent the acquisition or combination, and shall only be
    made to individuals who were not employees, directors or
    consultants of the Company or its Subsidiaries or Affiliates
    immediately before such acquisition or combination.

 

		
	
    6.  
	
    Options

 

    (a) Option Awards.  Options may be granted
    at any time and from time to time prior to the termination of
    the Plan to Participants as determined by the Committee. No
    Participant shall have any rights as a stockholder with respect
    to any Common Shares subject to Option hereunder until said
    Common Shares have been issued, and no dividend equivalents
    shall be granted with respect to Common Shares subject to
    Options. Each Option shall be evidenced by an Award Agreement.
    Options granted pursuant to the Plan need not be identical but
    each Option must contain and be subject to the terms and
    conditions set forth below.

 

    (b) Price.  The Committee will establish
    the exercise price per Common Share under each Option, which, in
    no event will be less than the Fair Market Value of the Common
    Shares on the date of grant; provided, however, that the
    exercise price per Common Share with respect to an Option that
    is granted in connection with a merger or other acquisition as a
    substitute or replacement award for options held by optionees of
    the acquired entity may be less than 100% of the Fair Market
    Value of the Common Shares on the date such Option is granted if
    such exercise price is based on a formula set forth in the terms
    of the options held by such optionees or in the terms of the
    agreement providing for such merger or other acquisition. The
    exercise price of any Option may be paid in Common Shares, cash
    or a combination thereof, as determined by the Committee,
    including an irrevocable commitment by a broker to pay over such
    amount from a sale of the Common Shares issuable under an
    Option, the delivery of previously owned Common Shares and
    withholding of Common Shares deliverable upon exercise.

 

    (c) No Repricing.  Other than in
    connection with a change in the Company’s capitalization
    (as described in Section 13) the exercise price of an
    Option may not be reduced without stockholder approval
    (including canceling previously awarded Options and regranting
    them with a lower exercise price).

 

    (d) Provisions Applicable to Options.  The
    date on which Options become exercisable shall be determined at
    the sole discretion of the Committee and set forth in an Award
    Agreement. Unless provided otherwise in the applicable Award
    Agreement, to the extent that the Committee determines that an
    approved leave of absence or employment on a less than full-time
    basis is not a Termination of employment, the vesting period
    and/or
    exercisability of an Option shall be adjusted by the Committee
    during or to reflect the effects of any period during which the
    Participant is on an approved leave of absence or is employed on
    a less than full-time basis.

 

    (e) Term of Options and Termination of
    Employment:  The Committee shall establish the
    term of each Option, which in no case shall exceed a period of
    ten (10) years from the date of grant. Unless an Option
    earlier expires upon the expiration date established pursuant to
    the foregoing sentence, upon the termination of the
    Participant’s employment, his or her rights to exercise an
    Option then held shall be determined by the Committee and set
    forth in an Award Agreement.

    

    5

 

    (f) Incentive Stock
    Options.  Notwithstanding anything to the contrary
    in this Section 6, in the case of the grant of an Option
    intending to qualify as an Incentive Stock Option: (i) if
    the Participant owns stock possessing more than 10 percent
    of the combined voting power of all classes of stock of the
    Company, the exercise price of such Option must be at least
    110 percent of the Fair Market Value of the Common Shares
    on the date of grant and the Option must expire within a period
    of not more than five (5) years from the date of grant, and
    (ii) termination of employment will occur when the person
    to whom an Award was granted ceases to be an employee (as
    determined in accordance with Section 3401(c) of the Code
    and the regulations promulgated thereunder) of the Company and
    its Subsidiaries and Affiliates. Notwithstanding anything in
    this Section 6 to the contrary, options designated as
    Incentive Stock Options shall not be eligible for treatment
    under the Code as Incentive Stock Options (and will be deemed to
    be Nonqualified Stock Options) to the extent that either
    (a) the aggregate Fair Market Value of Common Shares
    (determined as of the time of grant) with respect to which such
    Options are exercisable for the first time by the Participant
    during any calendar year (under all plans of the Company and any
    Subsidiary or Affiliate) exceeds $100,000, taking Options into
    account in the order in which they were granted, or
    (b) such Options otherwise remain exercisable but are not
    exercised within three (3) months of Termination of
    employment (or such other period of time provided in
    Section 422 of the Code).

 

		
	
    7.  
	
    Stock
    Appreciation Rights

 

    Stock Appreciation Rights may be granted to Participants from
    time to time either in tandem with or as a component of other
    Awards granted under the Plan (“tandem SARs”) or not
    in conjunction with other Awards (“freestanding SARs”)
    and may, but need not, relate to a specific Option granted under
    Section 6. The provisions of Stock Appreciation Rights need
    not be the same with respect to each grant or each recipient.
    Any Stock Appreciation Right granted in tandem with an Award may
    be granted at the same time such Award is granted or at any time
    thereafter before exercise or expiration of such Award. All
    freestanding SARs shall be granted subject to the same terms and
    conditions applicable to Options as set forth in Section 6
    and all tandem SARs shall have the same exercise price, vesting,
    exercisability, forfeiture and termination provisions as the
    Award to which they relate. Subject to the provisions of
    Section 6 and the immediately preceding sentence, the
    Committee may impose such other conditions or restrictions on
    any Stock Appreciation Right as it shall deem appropriate. Stock
    Appreciation Rights may be settled in Common Shares, cash or a
    combination thereof, as determined by the Committee and set
    forth in the applicable Award Agreement. Other than in
    connection with a change in the Company’s capitalization
    (as described in Section 13) the exercise price of
    Stock Appreciation Rights may not be reduced without stockholder
    approval (including canceling previously awarded Stock
    Appreciation Rights and regranting them with a lower exercise
    price). No dividend equivalents shall be granted with respect to
    Common Shares subject to Stock Appreciation Rights.

 

    8. Common Shares, Restricted Stock and Restricted Stock
    Units

 

    (a) Common Shares.  Common Shares may be
    granted at any time and from time to time prior to the
    termination of the Plan to Participants as determined by the
    Committee. Unless determined otherwise by the Committee, Common
    Shares shall not be subject to any restrictions. Grants of
    Common Shares may (but need not) be subject to an Award
    Agreement.

 

    (b) Restricted Stock and Restricted Stock Unit
    Awards.  Restricted Stock and Restricted Stock
    Units may be granted at any time and from time to time prior to
    the termination of the Plan to Participants as determined by the
    Committee. Restricted Stock is an award or issuance of Common
    Shares the grant, issuance, retention, vesting
    and/or
    transferability of which is subject during specified periods of
    time to such conditions (including continued employment or
    performance conditions) and terms as the Committee deems
    appropriate. Restricted Stock Units are Awards denominated in
    units of Common Shares under which the issuance of Common Shares
    is subject to such conditions (including continued employment or
    performance conditions) and terms as the Committee deems
    appropriate. Each grant of Restricted Stock and Restricted Stock
    Units shall be evidenced by an Award Agreement. Unless
    determined otherwise by the Committee, each Restricted Stock
    Unit will be equal to one Common Share and will entitle a
    Participant to either the issuance of Common Shares or payment
    of an amount of cash determined with reference to the value of
    Common Shares. To the extent determined by the Committee,
    Restricted Stock and Restricted Stock Units may be satisfied or
    settled in Common Shares, cash or a combination thereof.
    Restricted

    

    6

 

    Stock and Restricted Stock Units granted pursuant to the Plan
    need not be identical but each grant of Restricted Stock and
    Restricted Stock Units must contain and be subject to the terms
    and conditions set forth below.

 

    (c) Contents of Agreement.  Each Award
    Agreement with respect to Restricted Stock and Restricted Stock
    Units shall contain provisions regarding (i) the number of
    Common Shares or Restricted Stock Units subject to such Award or
    a formula for determining such number, (ii) the purchase
    price of the Common Shares, if any, and the means of payment,
    (iii) the performance criteria, if any, and level of
    achievement versus these criteria that shall determine the
    number of Common Shares or Restricted Stock Units granted,
    issued, retainable
    and/or
    vested, (iv) such terms and conditions on the grant,
    issuance, vesting
    and/or
    forfeiture of the Common Shares or Restricted Stock Units as may
    be determined from time to time by the Committee, (v) the
    term of the performance period, if any, as to which performance
    will be measured for determining the number of such Common
    Shares or Restricted Stock Units, and (vi) restrictions on
    the transferability of the Common Shares or Restricted Stock
    Units. Common Shares issued under a Restricted Stock Award may
    be issued in the name of the Participant and held by the
    Participant or held by the Company, in each case as the
    Committee may provide.

 

    (d) Vesting and Performance Criteria.  The
    grant, issuance, retention, vesting
    and/or
    settlement of shares of Restricted Stock and Restricted Stock
    Units will occur when and in such installments as the Committee
    determines or under criteria the Committee establishes, which
    may include Qualifying Performance Criteria.

 

    (e) Discretionary Adjustments and
    Limits.  Subject to the limits imposed under
    Section 162(m) of the Code for Awards that are intended to
    qualify as “performance based compensation,”
    notwithstanding the satisfaction of any performance goals, the
    number of Common Shares granted, issued, retainable
    and/or
    vested under an Award of Restricted Stock or Restricted Stock
    Units on account of either financial performance or personal
    performance evaluations may, to the extent specified in the
    Award Agreement, be reduced by the Committee on the basis of
    such further considerations as the Committee shall determine.

 

    (f) Voting Rights.  Participants who are
    granted Common Shares pursuant to Section 8(a) shall be the
    owners of such Shares for all purposes while holding such Common
    Shares, and may exercise full voting rights with respect to
    those shares at all times while held by the Participant. Unless
    otherwise determined by the Committee, Participants holding
    shares of Restricted Stock granted hereunder may exercise full
    voting rights with respect to those shares during the period of
    restriction. Participants shall have no voting rights with
    respect to Common Shares underlying Restricted Stock Units
    unless and until such Common Shares are reflected as issued and
    outstanding shares on the Company’s stock ledger.

 

    (g) Dividends and
    Distributions.  Participants who are granted
    Common Shares pursuant to Section 8(a) shall have full
    dividend rights with respect to such shares at all times while
    held by the Participant. Participants in whose name Restricted
    Stock is granted shall be entitled to receive all dividends and
    other distributions paid with respect to those Common Shares,
    unless determined otherwise by the Committee. The Committee will
    determine whether any such dividends or distributions will be
    automatically reinvested in additional shares of Restricted
    Stock and subject to the same restrictions on transferability as
    the Restricted Stock with respect to which they were distributed
    or whether such dividends or distributions will be paid in cash
    (and, if so, the time of payment of such cash). Common Shares
    underlying Restricted Stock Units shall be entitled to dividends
    or dividend equivalents only to the extent provided by the
    Committee.

 

		
	
    9.  
	
    Incentive
    Bonuses

 

    (a) General.  Each Incentive Bonus Award
    will confer upon the Participant the opportunity to earn a
    future payment tied to the level of achievement with respect to
    one or more performance criteria established for a performance
    period of not less than one year.

 

    (b) Incentive Bonus Document.  The terms
    of any Incentive Bonus will be set forth in an Award Agreement.
    Each Award Agreement evidencing an Incentive Bonus shall contain
    provisions regarding (i) the target and maximum amount
    payable to the Participant as an Incentive Bonus, (ii) the
    performance criteria and level of achievement versus these
    criteria that shall determine the amount of such payment,
    (iii) the term of the performance period as to which
    performance shall be measured for determining the amount of any
    payment, (iv) the timing of any payment earned by virtue of
    performance, (v) restrictions on the alienation or transfer
    of the Incentive Bonus prior

    

    7

 

    to actual payment, (vi) forfeiture provisions and
    (vii) such further terms and conditions, in each case not
    inconsistent with this Plan as may be determined from time to
    time by the Committee.

 

    (c) Performance Criteria.  The Committee
    shall establish the performance criteria and level of
    achievement versus these criteria that shall determine the
    target and maximum amount payable under an Incentive Bonus,
    which criteria may be based on financial performance
    and/or
    personal performance evaluations. The Committee may specify the
    percentage of the target Incentive Bonus that is intended to
    satisfy the requirements for “performance-based
    compensation” under Section 162(m) of the Code.
    Notwithstanding anything to the contrary herein, the performance
    criteria for any portion of an Incentive Bonus that is intended
    by the Committee to satisfy the requirements for
    “performance-based compensation” under
    Section 162(m) of the Code shall be a measure based on one
    or more Qualifying Performance Criteria (as defined in
    Section 13(b)) selected by the Committee and specified at
    the time the Incentive Bonus is granted. The Committee shall
    certify the extent to which any Qualifying Performance Criteria
    has been satisfied, and the amount payable as a result thereof,
    prior to payment of any Incentive Bonus that is intended to
    satisfy the requirements for “performance-based
    compensation” under Section 162(m) of the Code.

 

    (d) Timing and Form of Payment.  The
    Committee shall determine the timing of payment of any Incentive
    Bonus. Payment of the amount due under an Incentive Bonus may be
    made in cash or in Shares, as determined by the Committee. The
    Committee may provide for or, subject to such terms and
    conditions as the Committee may specify, may permit a
    Participant to elect for the payment of any Incentive Bonus to
    be deferred to a specified date or event.

 

    (e) Discretionary
    Adjustments.  Notwithstanding satisfaction of any
    performance goals, the amount paid under an Incentive Bonus on
    account of either financial performance or personal performance
    evaluations may, to the extent specified in the Award Agreement,
    be reduced, but not increased, by the Committee on the basis of
    such further considerations as the Committee shall determine.

 

		
	
    10.  
	
    Annual
    Awards to Nonemployee Directors

 

    (a) In addition to any other Awards that Nonemployee
    Directors may be granted on a discretionary basis under the
    Plan, immediately following the first regular meeting of the
    Board in any full calendar year the Plan is in effect, each
    Nonemployee Director then in office shall receive an Annual
    Grant of Common Shares or the right to receive Common Shares. A
    pro-rata portion of the Annual Grant may be awarded to any
    director who becomes a Nonemployee Director following the date
    of the Annual Grant. Such Award may be in any form of Award
    available under the Plan, and need not be the same for every
    Nonemployee Director. In all events, each Annual Grant shall be
    evidenced by an Award Agreement that shall specify whether the
    Annual Grant consists of Common Shares, the right to receive
    Common Shares or a combination thereof, and the other terms of
    the Annual Grant.

 

    (b) Each Annual Grant shall become vested as determined by
    the Committee. In all events, each Annual Grant shall become
    vested upon the Nonemployee Director’s death or Disability
    or upon a Change in Control.

 

    (c) Each Nonemployee Director may elect to have any portion
    of any fee for services as a director that would otherwise have
    been payable in cash instead paid in an Award of Common Shares
    or the right to receive Common Shares and may elect to defer any
    such Award pursuant to the provisions of Section 11 of the
    Plan. The number of Common Shares subject to any such Award
    shall be that number of Common Shares with an aggregate Fair
    Market Value on the grant date equal to the amount of such
    foregone cash fee. Each Award granted in lieu of cash fees shall
    be evidenced by an Award Agreement that shall specify whether
    such Award consists of Common Shares, the right to receive
    Common Shares or a combination thereof, and the other terms of
    such Award. Any deferral election shall be in accordance with
    the requirements of Section 409A of the Code to the extent
    applicable.

 

    (d) Dividends or equivalent payments may be paid with
    respect to all Awards described in this Section 10, and the
    Board shall determine whether and to what extent such amounts
    will be credited to the account of, or paid currently to the
    Participant.

    

    8

 

		
	
    11.  
	
    Deferral
    of Gains

 

    The Committee may, in an Award Agreement or otherwise, provide
    for the deferred delivery of Common Shares upon settlement,
    vesting or other events with respect to Restricted Stock or
    Restricted Stock Units, or in payment or satisfaction of an
    Incentive Bonus. Notwithstanding anything herein to the
    contrary, in no event will any deferral of the delivery of
    Common Shares or any other payment with respect to any Award be
    allowed if the Committee determines, in its sole discretion,
    that the deferral would result in the imposition of the
    additional tax under Section 409A(a)(1)(B) of the Code.

 

		
	
    12.  
	
    Conditions
    and Restrictions Upon Securities Subject to Awards

 

    The Committee may provide that the Common Shares issued upon
    exercise of an Option or Stock Appreciation Right or otherwise
    subject to or issued under an Award shall be subject to such
    further agreements, restrictions, conditions or limitations as
    the Committee in its discretion may specify prior to the
    exercise of such Option or Stock Appreciation Right or the
    grant, vesting or settlement of such Award, including without
    limitation, conditions on vesting or transferability, forfeiture
    or repurchase provisions and method of payment for the Common
    Shares issued upon exercise, vesting or settlement of such Award
    (including the actual or constructive surrender of Common Shares
    already owned by the Participant) or payment of taxes arising in
    connection with an Award. Without limiting the foregoing, such
    restrictions may address the timing and manner of any resales by
    the Participant or other subsequent transfers by the Participant
    of any Common Shares issued under an Award, including without
    limitation (i) restrictions under an insider trading policy
    or pursuant to applicable law, (ii) restrictions designed
    to delay
    and/or
    coordinate the timing and manner of sales by Participant and
    holders of other Company equity compensation arrangements,
    (iii) restrictions as to the use of a specified brokerage
    firm for such resales or other transfers, and
    (iv) provisions requiring Common Shares to be sold on the
    open market or to the Company in order to satisfy tax
    withholding or other obligations.

 

		
	
    13.  
	
    Adjustment
    of and Changes in the Stock

 

    The number and kind of Common Shares available for issuance
    under this Plan (including under any Awards then outstanding),
    and the number and kind of Common Shares subject to the limits
    set forth in Section 5 of this Plan, shall be equitably
    adjusted by the Committee to reflect any reorganization,
    reclassification, combination of shares, stock split, reverse
    stock split, spin-off, dividend or distribution of securities,
    property or cash (other than regular, quarterly cash dividends),
    or any other event or transaction that affects the number or
    kind of Common Shares of the Company outstanding. Such
    adjustment may be designed to comply with Section 425 of
    the Code, or may be designed to treat the Common Shares
    available under the Plan and subject to Awards as if they were
    all outstanding on the record date for such event or transaction
    or to increase the number of such Common Shares to reflect a
    deemed reinvestment in Common Shares of the amount distributed
    to the Company’s stockholders. The terms of any outstanding
    Award shall also be equitably adjusted by the Committee as to
    price, number or kind of Common Shares subject to such Award,
    vesting, and other terms to reflect the foregoing events, which
    adjustments need not be uniform as between different Awards or
    different types of Awards.

 

    In the event there shall be any other change in the number or
    kind of outstanding Common Shares, or any stock or other
    securities into which such Common Shares shall have been
    changed, or for which it shall have been exchanged, by reason of
    a Change in Control, other merger, consolidation or otherwise,
    then the Committee shall determine the appropriate and equitable
    adjustment to be effected. In addition, in the event of such
    change described in this paragraph, the Committee may accelerate
    the time or times at which any Award may be exercised and may
    provide for cancellation of such accelerated Awards that are not
    exercised within a time prescribed by the Committee in its sole
    discretion.

 

    No right to purchase fractional shares shall result from any
    adjustment in Awards pursuant to this Section 13. In case
    of any such adjustment, the Common Shares subject to the Award
    shall be rounded down to the nearest whole share. The Company
    shall notify Participants holding Awards subject to any
    adjustments pursuant to this Section 13 of such adjustment,
    but (whether or not notice is given) such adjustment shall be
    effective and binding for all purposes of the Plan.

    

    9

 

    The Committee may provide in any Award agreement provisions
    relating to the treatment of Awards in the event of a Change in
    Control. The Committee may provide for the acceleration of
    vesting of, or the lapse of transfer or other similar
    restrictions on, Awards, for a cash payment based on the Change
    in Control Price in settlement of Awards, or for the assumption
    or substitution of Awards by a Participant’s employer (or
    the parent or an Affiliate of such employer) immediately
    following the Change in Control.

 

		
	
    14.  
	
    Qualifying
    Performance-Based Compensation

 

    (a) General.  The Committee may establish
    performance criteria and level of achievement versus such
    criteria that shall determine the number of Common Shares,
    units, or cash to be granted, retained, vested, issued or
    issuable under or in settlement of or the amount payable
    pursuant to an Award, which criteria may be based on Qualifying
    Performance Criteria or other standards of financial performance
    and/or
    personal performance evaluations. In addition, the Committee may
    specify that an Award or a portion of an Award is intended to
    satisfy the requirements for “performance-based
    compensation” under Section 162(m) of the Code,
    provided that the performance criteria for such Award or portion
    of an Award that is intended by the Committee to satisfy the
    requirements for “performance-based compensation”
    under Section 162(m) of the Code shall be a measure based
    on one or more Qualifying Performance Criteria selected by the
    Committee and specified at the time the Award is granted. The
    Committee shall certify the extent to which any Qualifying
    Performance Criteria has been satisfied, and the amount payable
    as a result thereof, prior to payment, settlement or vesting of
    any Award that is intended to satisfy the requirements for
    “performance-based compensation” under
    Section 162(m) of the Code. Notwithstanding satisfaction of
    any performance goals, the number of Common Shares issued under
    or the amount paid under an award may, to the extent specified
    in the Award Agreement, be reduced by the Committee on the basis
    of such further considerations as the Committee in its sole
    discretion shall determine. The Committee may not delegate its
    duties under this Section 14 to any other person with
    respect to any Award that is intended to satisfy the
    requirements for “performance-based compensation”
    under Section 162(m) of the Code.

 

    (b) Qualifying Performance Criteria.  For
    purposes of this Plan, the term “Qualifying Performance
    Criteria” shall mean any one or more of the following
    performance criteria, either individually, alternatively or in
    any combination, applied to either the Company as a whole or to
    a business unit or Subsidiary or Affiliate, either individually,
    alternatively or in any combination, and measured either
    quarterly, annually or cumulatively over a period of years, on
    an absolute basis or relative to a pre-established target, to
    previous years’ results or to a designated comparison
    group, in each case as specified by the Committee:
    (i) revenue growth; (ii) earnings before interest,
    taxes, depreciation and amortization; (iii) earnings before
    interest, taxes and amortization; (iv) operating income;
    (v) pre- or after-tax income; (vi) cash flow;
    (vii) cash flow per share; (viii) net income;
    (ix) earnings per share; (x) return on equity;
    (xi) return on invested capital; (xii) return on
    assets; (xiii) economic value added (or an equivalent
    metric); (xiv) share price performance; (xv) total
    shareholder return; (xvi) improvement in or attainment of
    expense levels; (xvii) improvement in or attainment of
    working capital levels; or (xviii) debt reduction. To the
    extent consistent with Section 162(m) of the Code, the
    Committee (A) shall appropriately adjust any evaluation of
    performance under a Qualifying Performance Criteria to eliminate
    the effects of charges for restructurings, discontinued
    operations, extraordinary items and all items of gain, loss or
    expense determined to be extraordinary or unusual in nature or
    related to the acquisition or disposal of a segment of a
    business or related to a change in accounting principle all as
    determined in accordance with standards established by opinion
    No. 30 of the Accounting Principles Board (APA Opinion
    No. 30) or other applicable or successor accounting
    provisions, as well as the cumulative effect of accounting
    changes, in each case as determined in accordance with generally
    accepted accounting principles or identified in the
    Company’s financial statements or notes to the financial
    statements, and (B) may appropriately adjust any evaluation
    of performance under a Qualifying Performance Criteria to
    exclude any of the following events that occurs during a
    performance period: (i) asset write-downs,
    (ii) litigation, claims, judgments or settlements,
    (iii) the effect of changes in tax law or other such laws
    or provisions affecting reported results, (iv) the adverse
    effect of work stoppages or slowdowns, (v) accruals for
    reorganization and restructuring programs and (vi) accruals
    of any amounts for payment under this Plan or any other
    compensation arrangement maintained by the Company.

    

    10

 

		
	
    15.  
	
    Transferability

 

    Unless the Committee provides otherwise, each Award may not be
    sold, transferred, pledged, assigned, or otherwise alienated or
    hypothecated by a Participant other than by will or the laws of
    descent and distribution, and each Option or Stock Appreciation
    Right shall be exercisable only by the Participant during his or
    her lifetime; provided, however, that a Nonemployee Director may
    transfer an Award for no consideration to the Nonemployee
    Director’s “family members” as defined in
    Form S-8
    under the Securities Act of 1933, as amended.

 

		
	
    16.  
	
    Compliance
    with Laws and Regulations

 

    This Plan, the grant, issuance, vesting, exercise and settlement
    of Awards hereunder, and the obligation of the Company to sell,
    issue or deliver Common Shares under such Awards, shall be
    subject to all applicable foreign, federal, state and local
    laws, rules and regulations, stock exchange rules and
    regulations, and to such approvals by any governmental or
    regulatory agency as may be required. The Company shall not be
    required to register in a Participant’s name or deliver any
    Common Shares prior to the completion of any registration or
    qualification of such shares under any foreign, federal, state
    or local law or any ruling or regulation of any government body
    which the Committee shall determine to be necessary or
    advisable. To the extent the Company is unable to or the
    Committee deems it infeasible to obtain authority from any
    regulatory body having jurisdiction, which authority is deemed
    by the Company’s counsel to be necessary to the lawful
    issuance and sale of any Common Shares hereunder, the Company
    and its Subsidiaries and Affiliates shall be relieved of any
    liability with respect to the failure to issue or sell such
    Common Shares as to which such requisite authority shall not
    have been obtained. No Option shall be exercisable and no Common
    Shares shall be issued
    and/or
    transferable under any other Award unless a registration
    statement with respect to the Common Shares underlying such
    Option is effective and current or the Company has determined
    that such registration is unnecessary.

 

		
	
    17.  
	
    Withholding

 

    To the extent required by applicable federal, state, local or
    foreign law, a Participant shall be required to satisfy, in a
    manner satisfactory to the Company, any withholding tax
    obligations that arise by reason of an Option exercise,
    disposition of Common Shares issued under an Incentive Stock
    Option, the vesting of or settlement of an Award, an election
    pursuant to Section 83(b) of the Code or otherwise with
    respect to an Award. The Company and its Subsidiaries and
    Affiliates shall not be required to issue Common Shares, make
    any payment or to recognize the transfer or disposition of
    Common Shares until such obligations are satisfied. The
    Committee may provide for or permit the minimum statutory
    withholding obligations to be satisfied through the mandatory or
    elective sale of Common Shares
    and/or by
    having the Company withhold a portion of the Common Shares that
    otherwise would be issued to him or her upon exercise of the
    Option or the vesting or settlement of an Award, or by tendering
    Common Shares previously acquired.

 

		
	
    18.  
	
    Administration
    of the Plan

 

    (a) Committee of the Plan.  The Plan shall
    be administered by the Committee who shall be the Compensation
    Committee of the Board or, in the absence of a Compensation
    Committee, a properly constituted Compensation Committee or the
    Board itself. Any power of the Committee may also be exercised
    by the Board, except to the extent that the grant or exercise of
    such authority would cause any Award or transaction to become
    subject to (or lose an exemption under) the short-swing profit
    recovery provisions of Section 16 of the Securities
    Exchange Act of 1934 or cause an Award designated as a
    Performance Award not to qualify for treatment as
    performance-based compensation under Section 162(m) of the
    Code. To the extent that any permitted action taken by the Board
    conflicts with action taken by the Committee, the Board action
    shall control. The Compensation Committee may by resolution
    authorize one or more officers of the Company to perform any or
    all things that the Committee is authorized and empowered to do
    or perform under the Plan, and for all purposes under this Plan,
    such officer or officers shall be treated as the Committee;
    provided, however, that the resolution so authorizing such
    officer or officers shall specify the total number of Awards (if
    any) such officer or officers may award pursuant to such
    delegated authority, and any such Award shall be subject to the
    form of Award Agreement theretofore approved by the Compensation
    Committee. No such officer shall designate himself or herself as
    a recipient of any Awards granted under authority delegated to
    such officer. In addition, the Compensation Committee may
    delegate any or all

    

    11

 

    aspects of the day-to-day administration of the Plan to one or
    more officers or employees of the Company or any Subsidiary or
    Affiliate,
    and/or to
    one or more agents. Notwithstanding any other provision of this
    Section 18 to the contrary, the Nominating and Governance
    Committee shall be solely responsible for making and approving
    grants of Awards to Nonemployee Directors and determining the
    terms thereof, and any reference to the “Committee” in
    the Plan with respect to such granting and approval refers to
    the Nominating and Governance Committee.

 

    (b) Powers of Committee.  Subject to the
    express provisions of this Plan, the Committee shall be
    authorized and empowered to do all things that it determines to
    be necessary or appropriate in connection with the
    administration of this Plan, including, without limitation:
    (i) to prescribe, amend and rescind rules and regulations
    relating to this Plan and to define terms not otherwise defined
    herein; (ii) to determine which persons are Participants,
    to which of such Participants, if any, Awards shall be granted
    hereunder and the timing of any such Awards; (iii) to grant
    Awards to Participants and determine the terms and conditions
    thereof, including the number of Common Shares subject to Awards
    and the exercise or purchase price of such Common Shares and the
    circumstances under which Awards become exercisable or vested or
    are forfeited or expire, which terms may but need not be
    conditioned upon the passage of time, continued employment, the
    satisfaction of performance criteria, the occurrence of certain
    events (including events which constitute a Change in Control),
    or other factors; (iv) to establish and verify the extent
    of satisfaction of any performance goals or other conditions
    applicable to the grant, issuance, exercisability, vesting
    and/or
    ability to retain any Award; (v) to prescribe and amend the
    terms of the agreements or other documents evidencing Awards
    made under this Plan (which need not be identical) and the terms
    of or form of any document or notice required to be delivered to
    the Company by Participants under this Plan; (vi) to
    determine the extent to which adjustments are required pursuant
    to Section 13; (vii) to interpret and construe this
    Plan, any rules and regulations under this Plan and the terms
    and conditions of any Award granted hereunder, and to make
    exceptions to any such provisions in good faith and for the
    benefit of the Company; (viii) to approve corrections in
    the documentation or administration of any Award; and
    (ix) to make all other determinations deemed necessary or
    advisable for the administration of this Plan.

 

    (c) Determinations by the Committee.  All
    decisions, determinations and interpretations by the Committee
    regarding the Plan, any rules and regulations under the Plan and
    the terms and conditions of or operation of any Award granted
    hereunder, shall be final and binding on all Participants,
    beneficiaries, heirs, assigns or other persons holding or
    claiming rights under the Plan or any Award. The Committee shall
    consider such factors as it deems relevant, in its sole and
    absolute discretion, to making such decisions, determinations
    and interpretations including, without limitation, the
    recommendations or advice of any officer or other employee of
    the Company and such attorneys, consultants and accountants as
    it may select.

 

		
	
    19.  
	
    Amendment
    of the Plan or Awards

 

    The Board may amend, alter or discontinue this Plan and the
    Committee may amend, or alter any agreement or other document
    evidencing an Award made under this Plan but, except as
    specifically provided for hereunder, no such amendment shall,
    without the approval of the stockholders of the Company
    (a) reduce the exercise price of outstanding Options or
    Stock Appreciation Rights, (b) reduce the price at which
    Options may be granted below the price provided for in
    Section 6 or (c) otherwise amend the Plan in any
    manner requiring stockholder approval by law or under the New
    York Stock Exchange listing requirements. No amendment or
    alteration to the Plan or an Award or Award Agreement shall be
    made which would impair the rights of the holder of an Award,
    without such holder’s consent, provided that no such
    consent shall be required if the Committee determines in its
    sole discretion and prior to the date of any Change in Control
    that such amendment or alteration either is required or
    advisable in order for the Company, the Plan or the Award to
    satisfy any law or regulation or to meet the requirements of or
    avoid adverse financial accounting consequences under any
    accounting standard.

 

		
	
    20.  
	
    Miscellaneous

 

    (a) No Liability of Company.  The Company
    and any Subsidiary or Affiliate which is in existence or
    hereafter comes into existence shall not be liable to a
    Participant or any other person as to: (i) the non-issuance
    or sale of Common Shares as to which the Company has been unable
    to obtain from any regulatory body having jurisdiction the
    authority deemed by the Company’s counsel to be necessary
    to the lawful issuance and sale of any Common

    

    12

 

    Shares hereunder; and (ii) any tax consequence expected,
    but not realized, by any Participant or other person due to the
    receipt, exercise or settlement of any Award granted hereunder.

 

    (b) Non-Exclusivity of Plan.  Neither the
    adoption of this Plan by the Board nor the submission of this
    Plan to the stockholders of the Company for approval shall be
    construed as creating any limitations on the power of the Board
    or the Committee to adopt such other incentive arrangements as
    either may deem desirable, including without limitation, the
    granting of restricted stock or stock options otherwise than
    under this Plan or an arrangement not intended to qualify under
    Code Section 162(m), and such arrangements may be either
    generally applicable or applicable only in specific cases.

 

    (c) Governing Law.  This Plan and any
    agreements or other documents hereunder shall be interpreted and
    construed in accordance with the laws of the Delaware (without
    regard to principles of conflicts of law) and applicable federal
    law.

 

    (d) No Right to Employment, Reelection or Continued
    Service.  Nothing in this Plan or an Award
    Agreement shall interfere with or limit in any way the right of
    the Company, its Subsidiaries
    and/or its
    Affiliates to terminate any Participant’s employment,
    service on the Board or service for the Company at any time or
    for any reason not prohibited by law, nor shall this Plan or an
    Award itself confer upon any Participant any right to continue
    his or her employment or service for any specified period of
    time. Neither an Award nor any benefits arising under this Plan
    shall constitute an employment contract with the Company, any
    Subsidiary
    and/or its
    Affiliates.

 

    (e) Unfunded Plan.  The Plan is intended
    to be an unfunded plan. Participants are and shall at all times
    be general creditors of the Company with respect to their
    Awards. If the Committee or the Company chooses to set aside
    funds in a trust or otherwise for the payment of Awards under
    the Plan, such funds shall at all times be subject to the claims
    of the creditors of the Company in the event of its bankruptcy
    or insolvency.

    

    13

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