Document:

EX-4.1

 Exhibit 4.1 
  

 
  

REPLACEMENT CAPITAL COVENANT 

by 

METLIFE, INC. 

dated as of June 1, 2015 
  

 
  

 REPLACEMENT CAPITAL COVENANT, dated as of
June 1, 2015 (this “Replacement Capital Covenant”), by MetLife, Inc., a Delaware corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered
Debtholder (as defined below). 
 RECITALS 

A. On the date hereof, the Corporation is issuing 1,500,000 shares of 5.250% Fixed-to-Floating Rate Non-Cumulative Preferred Stock,
Series C (the “Securities”). 
 B. This Replacement Capital Covenant is the “Replacement Capital Covenant”
referred to in the Prospectus Supplement, dated May 27, 2015, relating to the Securities. 
 C. The Corporation is entering into and
disclosing the content of this Replacement Capital Covenant in the manner provided below with the intent that the covenants provided for in this Replacement Capital Covenant be enforceable by each Covered Debtholder and that the Corporation be
estopped from disregarding the covenants in this Replacement Capital Covenant, in each case to the fullest extent permitted by applicable law. 

D. The Corporation acknowledges that reliance by each Covered Debtholder upon the covenants in this Replacement Capital Covenant is reasonable
and foreseeable by the Corporation and that, were the Corporation to disregard its covenants in this Replacement Capital Covenant, each Covered Debtholder would have sustained an injury as a result of its reliance on such covenants. 

NOW, THEREFORE, the Corporation hereby covenants and agrees as follows in favor of and for the benefit of each
Covered Debtholder. 
 1. DEFINITIONS. Capitalized terms used in this Replacement Capital Covenant (including the Recitals)
have the meanings set forth in Schedule I hereto. 
 2. LIMITATIONS ON REPAYMENT,
REDEMPTION AND PURCHASE OF SECURITIES. The Corporation hereby promises and covenants to and for the benefit of each Covered Debtholder that neither the Corporation nor any
Subsidiary of the Corporation shall repay, redeem or purchase any of the Securities except to the extent that (1) the amount repaid, or the applicable redemption or purchase price, does not exceed the sum of the following amounts: 

(i) 100% of the aggregate amount of (A) net cash proceeds received by the Corporation and its Subsidiaries from the sale
of Common Stock and rights to acquire Common Stock (including Common Stock or rights to acquire Common Stock issued pursuant to the Corporation’s dividend reinvestment plan or employee benefit plans), (B) the Market Value of any Common
Stock that the Corporation or its Subsidiaries have delivered as consideration for property or assets in an arm’s-length transaction and (C) the Market Value of any Common Stock that the Corporation and its Subsidiaries have issued in
connection with the conversion or exchange of any convertible or exchangeable securities, other than securities for which the Corporation or any of its Subsidiaries has received equity credit from any NRSRO, in each case, to Persons other than the
Corporation and its Subsidiaries; plus 

  
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 (ii) 100% of the aggregate amount of net cash proceeds received by the
Corporation and its Subsidiaries from the sale of Qualifying Non-Cumulative Perpetual Preferred Stock to Persons other than the Corporation and its Subsidiaries; 

in each case within the applicable Measurement Period (without double counting proceeds received in any prior Measurement Period), or (2) the Securities
are exchanged for at least an equal aggregate Market Value of Common Stock or liquidation preference of Qualifying Non-Cumulative Perpetual Preferred Stock. 

3. COVERED DEBT. 

(a) The Corporation represents and warrants that the Initial Covered Debt is Eligible Senior Debt or Eligible Subordinated Debt. 

(b) On or during the 30-day period immediately preceding any Redesignation Date with respect to the Covered Debt then in effect, the
Corporation shall identify the series of Eligible Debt that will become the Covered Debt on and after such Redesignation Date in accordance with the following procedures: 

(i) the Corporation shall identify each series of its then outstanding long-term indebtedness for money borrowed that is
Eligible Debt; 
 (ii) if only one series of the Corporation’s then outstanding long-term indebtedness for money
borrowed is Eligible Debt, such series shall become the Covered Debt commencing on the related Redesignation Date; 
 (iii)
if the Corporation has more than one outstanding series of long-term indebtedness for money borrowed that is Eligible Debt, then the Corporation shall identify the series that has the latest occurring final maturity date as of the date the
Corporation is applying the procedures in this Section 3(b) and such series shall become the Covered Debt on the related Redesignation Date; 

(iv) the series of outstanding long-term indebtedness for money borrowed that is determined to be Covered Debt pursuant to
clauses (ii) or (iii) above shall be the Covered Debt for purposes of this Replacement Capital Covenant for the period commencing on the related Redesignation Date and continuing to, but not including, the Redesignation Date as of which a
new series of outstanding long-term indebtedness for money borrowed is next determined to be the Covered Debt pursuant to the procedures set forth in this Section 3(b); and 

(v) in connection with such identification of a new series of Covered Debt, the Corporation shall, as provided for in
Section 3(c), give a notice and file with the Commission a current report on Form 8-K including or incorporating by reference this Replacement Capital Covenant as an exhibit within the time frame provided for in such section. 

  
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 (c) In order to give effect to the intent of the Corporation described in Recital C, the
Corporation covenants that: 
 (i) simultaneously with the execution of this Replacement Capital Covenant or as soon as
practicable after the date hereof, it shall (x) give notice to the Holders of the Initial Covered Debt, in the manner provided in the indenture relating to the Initial Covered Debt, of this Replacement Capital Covenant and the rights granted to
such Holders hereunder and (y) file a copy of this Replacement Capital Covenant with the Commission as an exhibit to a Form 8-K under the Securities Exchange Act; 

(ii) so long as the Corporation is a reporting company under the Securities Exchange Act, the Corporation shall include in each
annual report filed with the Commission on Form 10-K under the Securities Exchange Act a description of the covenant set forth in Section 2 and identify the series of long-term indebtedness for borrowed money that is Covered Debt as of the date
such Form 10-K is filed with the Commission; 
 (iii) if a series of the Corporation’s long-term indebtedness for money
borrowed (x) becomes Covered Debt or (y) ceases to be Covered Debt, the Corporation shall give notice of such occurrence within 30 days to the holders of such long-term indebtedness for money borrowed in the manner provided for in the
indenture, fiscal agency agreement or other instrument under which such long-term indebtedness for money borrowed was issued and report such change in a current report on Form 8-K including or
incorporating by reference this Replacement Capital Covenant, and in the Corporation’s next quarterly report on Form 10-Q or annual report on Form 10-K, as applicable; 

(iv) if, and only if, the Corporation ceases to be a reporting company under the Securities Exchange Act, the Corporation shall
(A) post on its website the information otherwise required to be included in Securities Exchange Act filings pursuant to clauses (ii) and (iii) of this Section 3(c) and (B) to the extent permitted by Bloomberg and any other
similar third-party vendor the Corporation reasonably believes is appropriate that makes available to the marketplace information with respect to securities that are Covered Debt by posting such information on an electronically accessible screen
(each, an “Investor Screen”), cause a notation to be included on each such Investor Screen identifying the relevant series of indebtedness of the Corporation that is Covered Debt from time to time as Covered Debt for purposes of
this Replacement Capital Covenant and cause a hyperlink to a definitive copy of this Replacement Capital Covenant to be included on the Investor Screen for each series of Covered Debt (but only so long as such series is Covered Debt); and 

(v) promptly upon request by any Holder of Covered Debt, the Corporation shall provide such Holder with an executed copy of
this Replacement Capital Covenant. 

  
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 4. TERMINATION, AMENDMENT AND WAIVER.

 (a) The obligations of the Corporation pursuant to this Replacement Capital Covenant shall remain in full force and effect until the date
on which no Securities are outstanding or, if earlier, the earliest date to occur (such date or earlier date, the “Termination Date”) of: 

(i) December 31, 2018; 

(ii) the date on which the Corporation’s obligations under this Replacement Capital Covenant have been fulfilled or,
pursuant to Section 5, are no longer applicable; 
 (iii) the date, if any, on which the Holders of a majority in
principal amount of the then-effective series of Covered Debt consent or agree in writing to the termination of this Replacement Capital Covenant and the obligations of the Corporation hereunder; and 

(iv) the date on which the Corporation has no series of outstanding Eligible Senior Debt or Eligible Subordinated Debt (in each
case without giving effect to the rating requirement in clause (b) of the definition of each such term). 
 From and after the Termination Date, the
obligations of the Corporation pursuant to this Replacement Capital Covenant shall be of no further force and effect. 
 (b) This
Replacement Capital Covenant may be amended or supplemented from time to time by a written instrument signed by the Corporation with the consent of the Holders of a majority in principal amount of the then-effective series of Covered Debt;
provided that this Replacement Capital Covenant may be amended or supplemented from time to time by a written instrument signed only by the Corporation (and without the consent of the Holders of the then-effective series of Covered Debt) if:

 (i) such amendment or supplement eliminates Common Stock or rights to acquire Common Stock as a Replacement Capital
Security, if after the date of this Replacement Capital Covenant, an accounting standard or interpretive guidance of an existing accounting standard issued by an organization or regulator that has responsibility for establishing or interpreting
accounting standards in the United States becomes effective such that there is more than an insubstantial risk that failure to eliminate Common Stock or rights to acquire Common Stock as a Replacement Capital Security would result in a reduction in
the Corporation’s fully diluted earnings per share as calculated in accordance with generally accepted accounting principles (“EPS”), or the Corporation otherwise has been advised in writing by a nationally recognized
independent accounting firm that there is more than an insubstantial risk that the failure to eliminate such securities as a security or securities covered by clause (i) of Section 2 would result in a reduction of the Corporation’s
fully diluted EPS; 
 (ii) such amendment or supplement is not materially adverse to the Holders of the then-effective series
of Covered Debt and an officer of the Corporation has delivered to the Holders of the then-effective series of Covered Debt in the manner provided for in the indenture, fiscal agency agreement or other instrument with respect to such Covered

  
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Debt a written certificate stating that, in his or her determination, such amendment or supplement is not materially adverse to the Holders of the then-effective series of Covered Debt; 

(iii) the effect of such amendment or supplement is solely to impose additional restrictions on, or eliminate certain of, the
types of securities qualifying as Replacement Capital Securities (other than the securities covered by clause (i) above), and an officer of the Corporation has delivered to the Holders of the then-effective series of Covered Debt in the manner
provided for in the indenture, fiscal agency agreement or other instrument with respect to such Covered Debt a written certificate to that effect; or 

(iv) the effect of such amendment or supplement is solely to impose additional restrictions on the ability of the Corporation
or its Subsidiaries to repay, redeem or purchase Securities in any circumstance. 
 (c) For purposes of Sections 4(a) and 4(b), the Holders
whose consent or agreement is required to terminate, amend or supplement the obligations of the Corporation under this Replacement Capital Covenant shall be the Holders of the then-effective Covered Debt as of a record date established by the
Corporation that is not more than 30 days prior to the date on which the Corporation proposes that such termination, amendment or supplement becomes effective. 

5. LIMITATION ON APPLICABILITY OF THIS REPLACEMENT
CAPITAL COVENANT. The promises and covenants contained in this Replacement Capital Covenant shall not apply and be of no force and effect if, after proper notice of redemption for the Securities has been given to the
holders of the Securities, a Market Disruption Event occurs and prevents the Corporation from raising proceeds in accordance with Section 2 to redeem the Securities subject to such redemption; provided that if during the pendency of such
Market Disruption Event the Corporation repurchases or redeems the Securities or a Subsidiary of the Corporation purchases the Securities (in a manner that, but for the existence of the Market Disruption Event, would not have been permitted by this
Replacement Capital Covenant) then, at such time as the Market Disruption Event shall cease to exist, the Corporation promises and covenants to issue Replacement Capital Securities to raise proceeds, in accordance with Section 2, in an amount
sufficient to repurchase or redeem the Securities; provided, however, that in no event shall the Corporation be obliged to issue such Replacement Capital Securities in satisfaction of such covenant at any time after December 31, 2018.

 6. MISCELLANEOUS. 

(a) This Replacement Capital Covenant shall be governed by and construed in accordance with the laws of the State of New York. 

(b) This Replacement Capital Covenant shall be binding upon the Corporation and its successors and assigns and shall inure to the benefit of
the Covered Debtholders as they exist from time-to-time (it being understood and agreed by the Corporation that (i) any Person who is a Covered Debtholder at the time such Person acquires, holds or sells Covered Debt shall retain its status as
a Covered Debtholder for so long as the series of long-term indebtedness for borrowed money owned by such Person is Covered Debt and, if such Person initiates a claim or 

  
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proceeding to enforce its rights under this Replacement Capital Covenant after the Corporation has violated its covenants in Section 2 and before the series of long-term indebtedness for
money borrowed held by such Person is no longer Covered Debt, such Person’s rights under this Replacement Capital Covenant shall not terminate by reason of such series of long-term indebtedness for money borrowed no longer being Covered Debt
and (ii) if at any time the Covered Debt is held by a trust, a holder of the securities of such trust may institute a legal proceeding directly against the issuer for the enforcement of this Replacement Capital Covenant, and such securities
shall be deemed to be “Covered Debt” so long as the Covered Debt held by such trust remains Covered Debt). 
 (c) All demands,
notices, requests and other communications to the Corporation under this Replacement Capital Covenant shall be deemed to have been duly given and made if in writing and (i) if served by personal delivery upon the Corporation, on the day so
delivered (or, if such day is not a Business Day, the next succeeding Business Day), (ii) if delivered by registered post or certified mail, return receipt requested, or sent to the Corporation by a national or international courier service, on
the date of receipt by the Corporation (or, if such date of receipt is not a Business Day, the next succeeding Business Day), or (iii) if sent by telecopier, on the day telecopied, or if not a Business Day, the next succeeding Business Day,
provided that the telecopy is promptly confirmed by telephone confirmation thereof, and in each case to the Corporation at the address set forth below, or at such other address as the Corporation may thereafter notify to Covered Debtholders or post
on its website as the address for notices under this Replacement Capital Covenant: 
 MetLife, Inc. 

1095 Sixth Avenue 
 New York,
New York 10036-6796 
 Attention: Treasurer 

Facsimile No: (212) 578-0266 

  
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 IN WITNESS WHEREOF, the Corporation has caused this
Replacement Capital Covenant to be executed by its duly authorized officer, as of the day and year first above written. 
  

			
	METLIFE, INC.
		
	By:		 /s/ Marlene B. Debel

	Name:		Marlene B. Debel
	Title:		Executive Vice President and Treasurer

 [Signature Page to Replacement Capital Covenant] 

 SCHEDULE I 

Definitions 

“Alternative Payment Mechanism” means, with respect to any Qualifying Non-Cumulative Perpetual Preferred Stock,
provisions in the terms thereof or of the related transaction documents that, during the continuation of the failure to satisfy one or more financial tests set forth in the terms thereof or of the related transaction documents, permit the issuer of
such securities to make payment of dividends on such securities only from the “eligible proceeds” of one or more types of Qualifying APM Securities unless (if the Corporation elects to so provide in the terms of such securities) an
Applicable Governmental Authority directs otherwise, and that: 
 (a) define “eligible proceeds” to mean, for purposes of such
Alternative Payment Mechanism, the net proceeds (after underwriters’ or placement agents’ fees, commissions or discounts and other expenses relating to the issuance or sale of the relevant securities, where applicable, and including the
fair market value of property received by the Corporation or any of its Subsidiaries as consideration for such securities) that the Corporation has received during the 180 days prior to the related dividend payment date from the issuance of
Qualifying APM Securities, up to the Preferred Cap in the case of Qualifying APM Securities that are Qualifying Non-Cumulative Perpetual Preferred Stock, where the “Preferred Cap” is an amount from the issuance thereof pursuant to such
Alternative Payment Mechanism (including at any point in time from all prior issuances thereof pursuant to such Alternative Payment Mechanism) equal to 25% of the initial liquidation amount of the securities that are the subject of such Alternative
Payment Mechanism; 
 (b) if such restriction on the payment of dividends continues for more than one year, require the Corporation and its
Subsidiaries not to redeem or purchase any securities of the Corporation that on a bankruptcy or liquidation of the Corporation rank pari passu with or junior to the most senior Qualifying APM Securities the proceeds of which were used to pay
dividends during the relevant dividend restriction period until at least one year after such Qualifying APM Securities have been issued; 

(c) notwithstanding the foregoing provision, if the Commission disapproves the issuer’s sale of Qualifying APM Securities, may (if the
Corporation elects to so provide in the term of such securities) permit the Corporation to pay dividends from any source without a breach of its obligations under the transaction documents; and 

(d) if the Commission does not disapprove the Corporation’s issuance and sale of Qualifying APM Securities but disapproves the use of the
proceeds thereof to pay deferred dividends, may (if the Corporation elects to so provide in the terms of such securities) permit the Corporation to use such proceeds for other purposes. 

“Applicable Governmental Authority” means any regulatory body, administrative agency, or governmental body having
jurisdiction over the Corporation or any Subsidiary thereof, including, without limitation, any insurance regulatory authority, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York and the Federal Deposit
Insurance Corporation. 

  
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 “Business Day” means each day other than (a) a Saturday or Sunday or
(b) a day on which banking institutions in The City of New York are authorized or required by law or executive order to remain closed. 

“Capital Regulator” means the Board of Governors of the Federal Reserve System, if the Corporation is then subject to its
regulation, or such other agency or instrumentality of the United States as may then have primary oversight of the Corporation’s regulatory capital. 

“Commission” means the United States Securities and Exchange Commission. 

“Common Stock” means common stock of the Corporation and rights to acquire common stock issued pursuant to any
dividend reinvestment plan and employee benefit plans of the Corporation (including treasury shares of common stock). 

“Corporation” has the meaning specified in the introduction to this instrument. 

“Covered Debt” means (a) at the date of this Replacement Capital Covenant and continuing to, but not including the first
Redesignation Date, the Initial Covered Debt and (b) thereafter, commencing with each Redesignation Date and continuing to, but not including the next succeeding Redesignation Date, the Eligible Debt identified pursuant to Section 3(b) as
the Covered Debt for such period. 
 “Covered Debtholder” means each Person (whether a Holder or a beneficial owner holding
through a participant in a clearing agency) that buys, holds or sells long-term indebtedness for money borrowed of the Corporation during the period that such long-term indebtedness for money borrowed is Covered Debt; provided that, except as
provided in Section 6(b), a Person who has sold all of its right, title and interest in Covered Debt shall cease to be a Covered Debtholder at the time of such sale if, at such time, the Corporation has not breached or repudiated, or threatened
to breach or repudiate, its obligations hereunder. 
 “Eligible Debt” means, at any time, Eligible Subordinated Debt or, if
no Eligible Subordinated Debt is then outstanding, Eligible Senior Debt. 
 “Eligible Senior Debt” means, at any time in
respect of any issuer, each series of outstanding unsecured long-term indebtedness for money borrowed of such issuer that (a) upon a bankruptcy, liquidation, dissolution or winding-up of the issuer, ranks most senior among the issuer’s
then outstanding classes of unsecured indebtedness for money borrowed, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding
senior long-term indebtedness for money borrowed that satisfies the requirements of clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000,
and (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with
a CUSIP number, 

  
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each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the
securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness. 

“Eligible Subordinated Debt” means, at any time in respect of any issuer, each series of the issuer’s
then-outstanding unsecured long-term indebtedness for money borrowed that (a) upon a bankruptcy, liquidation, dissolution or winding-up of the issuer, ranks subordinate to the issuer’s then outstanding series of unsecured indebtedness for
money borrowed that ranks most senior, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding subordinated long-term
indebtedness for money borrowed that satisfies the requirements in clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) was
issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number,
each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a
separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness. 

“EPS” has the meaning specified in subclause (i) of clause (b) of Section 4. 

“Holder” means, as to the Covered Debt then in effect, each holder of such Covered Debt as reflected on the securities
register maintained by or on behalf of the Corporation with respect to such Covered Debt. 
 “Initial Covered Debt” means
the Corporation’s 10.750% Fixed-to-Floating Rate Junior Subordinated Debentures due 2069, which have CUSIP No. 59156RAV0. 

“Intent-Based Replacement Disclosure” means, as to any security or combination of securities (together in this definition,
“securities”), that the issuer has publicly stated its intention, either in the prospectus or other offering document under which such securities were initially offered for sale or in filings with the Commission made by the issuer under
the Exchange Act prior to or contemporaneously with the issuance of such securities, that the issuer, to the extent the securities provide the issuer with equity credit, will repay, redeem or purchase such securities only with the proceeds of
replacement capital securities that have terms and provisions at the time of repayment, redemption or purchase that are as or more equity-like than the securities then being repaid, redeemed or purchased, raised within 180 days prior to the
applicable repayment, redemption or purchase date. 
 “Investor Screen” has the meaning specified in Section
3(c)(iv). 

  
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 “Mandatory Trigger Provision” means, as to any Qualifying Preferred Stock or
Qualifying Non-Cumulative Perpetual Preferred Stock, provisions in the terms thereof or of the related transaction documents that during the continuation of the failure to satisfy one or more financial tests set forth in the terms of such securities
or related transaction documents, permit the issuer of such securities to make payment of dividends on such securities only pursuant to an Alternative Payment Mechanism. No remedy other than Permitted Remedies will arise by the terms of such
securities or related transaction documents in favor of the holders of such securities as a result of the issuer’s failure to pay dividends because of the Mandatory Trigger Provision. 

“Market Disruption Event” means the occurrence or existence of any of the following events or sets of circumstances: 

(a) any suspension or material disruption of trading or settlement of one of the exchanges (and/or their electronic trading platform) on which
Replacement Capital Securities are listed; or 
 (b) any change in political conditions, any outbreak or escalation of hostilities,
terrorist attacks or crisis such that the issuance by the Corporation of its Replacement Capital Securities is deemed to be impracticable. 

“Market Value” means, on any date, the closing sale price per share of Common Stock (or if no closing sale price is reported,
the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions by the New York Stock Exchange or, if the Common Stock is not
then listed on the New York Stock Exchange, as reported by the principal U.S. securities exchange on which the Common Stock is traded or quoted. If the Common Stock is not listed on any U.S. securities exchange on the relevant date, the
“current stock market price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau or similar organization. If the Common Stock is not so
quoted, the “current stock market price” shall be the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms
selected by the Corporation for this purpose. 
 “Measurement Period” with respect to any repayment, redemption or purchase
of the Securities, means the period (i) beginning on the date that is 180 days prior to the date of such repayment, redemption or purchase and (ii) ending on such repayment, redemption or purchase date. Measurement Periods cannot run
concurrently. 
 “NRSRO” means a nationally recognized statistical rating organization within the meaning of
Section 3(a)(62) of the Securities Exchange Act. 
 “Permitted Remedies” means, with respect to any securities, one or
more of the following remedies: 

  
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 (a) rights in favor of the holders of such securities permitting such holders to elect one or
more directors of the issuer (including any such rights required by the listing requirements of any stock or securities exchange on which such securities may be listed or traded); and 

(b) complete or partial prohibitions on the issuer paying dividends on or repurchasing common stock or other securities that rank pari
passu with or junior as to dividends to such securities for so long as distributions on such securities, including unpaid distributions, remain unpaid. 

“Person” means any individual, corporation, partnership, joint venture, trust, limited liability company or corporation,
unincorporated organization or government or any agency or political subdivision thereof. 
 “Qualifying APM Securities”
means, with respect to an Alternative Payment Mechanism, one or more of the following (as designated in the transaction documents for the Qualifying Non-Cumulative Perpetual Preferred Stock that include an Alternative Payment Mechanism): 

 

	 	(a)	Common Stock; 

  

	 	(b)	Qualifying Warrants; or 

  

	 	(c)	Qualifying Preferred Stock; 

 provided that if the Qualifying APM Securities for any Alternative Payment
Mechanism include both Common Stock and Qualifying Warrants, such Alternative Payment Mechanism may permit, but need not require, the Corporation to issue Qualifying Warrants. 

“Qualifying Non-Cumulative Perpetual Preferred Stock” means non-cumulative preferred stock of the Corporation (a) that
is perpetual and is subject to a Qualifying Replacement Capital Covenant, (b) that is subject to a Mandatory Trigger Provision, unless the inclusion of a Mandatory Trigger Provision would result in such non-cumulative preferred stock being
treated as other than “Tier 1 capital” (or its equivalent) under the capital guidelines of the Capital Regulator as then in effect, and (c) as to which the transaction documents provide for no remedies as a consequence of non-payment
of dividends other than Permitted Remedies. Qualifying Non-Cumulative Perpetual Preferred Stock may be convertible into Common Stock at a conversion ratio within a range established at the time of its issuance. 

“Qualifying Preferred Stock” means the Corporation’s non-cumulative perpetual preferred stock that ranks pari
passu with or junior to all of the Corporation’s other preferred stock and (a) is subject to a Qualifying Replacement Capital Covenant or (b) is subject to both (i) a Mandatory Trigger Provision and (ii) Intent-Based
Replacement Disclosure. Additionally, in the case of both clauses (a) and (b) the transaction documents shall provide for no remedies as a consequence of non-payment of distributions other than Permitted Remedies. 

  
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 “Qualifying Replacement Capital Covenant” means a replacement capital covenant,
as identified by the Corporation’s Board of Directors acting in good faith and in its reasonable discretion and reasonably construing the definitions and other terms of this Replacement Capital Covenant, (i) entered into by a company that
at the time it enters into such replacement capital covenant is a reporting company under the Exchange Act and (ii) that restricts the related issuer from redeeming, repaying or purchasing identified securities except to the extent of the
applicable percentage of the net proceeds from the issuance of specified replacement capital securities that have terms and provisions at the time of redemption, repayment or purchase that are as or more equity-like than the securities then being
redeemed, repaid or purchased within the 180-day period prior to the applicable redemption, repayment or purchase date. 

“Qualifying Warrants” means any net share settled warrants to purchase Common Stock that (i) have an exercise price
greater than the “Market Value” of the Common Stock on a date within five days of the issuance of such warrants, and (ii) the Corporation is not entitled to redeem for cash and the holders of which are not entitled to require the
Corporation to purchase for cash in any circumstances. 
 “Redesignation Date” means, as to the Covered Debt in effect at
any time, the earliest of (a) the date that is two years prior to the final maturity date of such Covered Debt, (b) if the Corporation elects to redeem, repay or defease, or the Corporation or a Subsidiary of the Corporation elects to
purchase, such Covered Debt either in whole or in part with the consequence that, after giving effect to such redemption, repayment, defeasance or purchase, the outstanding principal amount of such Covered Debt is less than $100,000,000, the
applicable redemption, repayment, defeasance or purchase date and (c) if such Covered Debt is not Eligible Subordinated Debt of the Corporation, the date on which the Corporation issues long-term indebtedness for money borrowed that is Eligible
Subordinated Debt. 
 “Replacement Capital Covenant” has the meaning specified in the introduction to this
instrument. 
 “Replacement Capital Securities” means Common Stock, rights to acquire Common Stock or Qualifying
Non-Cumulative Perpetual Preferred Stock. 
 “Securities” has the meaning specified in Recital A. 

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

“Subsidiary” means, at any time, any Person the shares of stock or other ownership interests of which having ordinary voting
power to elect a majority of the board of directors or other managers of such Person are at the time owned, or the management or policies of which are otherwise at the time controlled, directly or indirectly through one or more intermediaries
(including other Subsidiaries) or both, by another Person. 
 “Termination Date” has the meaning specified in Section 4(a).

  
 I-6EX-10.1

 Exhibit 10.1 

POLYCOM, INC. 
 2011
EQUITY INCENTIVE PLAN 
 (May 27, 2015 Amendment and Restatement) 

SECTION 1 
 BACKGROUND
AND PURPOSE 
 1.1 Background and Effective Date. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock
Options, SARs, Restricted Stock, Performance Units, and Performance Shares. The Plan became effective as of May 26, 2011, subject to approval by an affirmative vote of the holders of a majority of the Shares that were present in person or by
proxy and entitled to vote at the 2011 Annual Meeting of Stockholders of the Company. The Plan subsequently was amended and restated effective as of July 1, 2011, to reflect applicable adjustments in Share numbers resulting from the
2-for-1 stock split of the Company’s common stock effected on that date. The Plan was amended and restated further effective as of June 5, 2013, subject to approval by an affirmative vote of the holders of a majority of the Shares that are
present in person or by proxy and entitled to vote at the 2013 Annual Meeting of Stockholders of the Company. The Plan is hereby amended and restated effective as of May 27, 2015, subject to approval by an affirmative vote of the
holders of a majority of the Shares that are present in person or by proxy and entitled to vote at the 2015 Annual Meeting of Stockholders of the Company. 

1.2 Purpose of the Plan. The Plan is intended to attract, motivate, and retain (a) employees of the Company and its
Subsidiaries, (b) consultants who provide significant services to the Company and its Subsidiaries, and (c) directors of the Company who are employees of neither the Company nor any Subsidiary. The Plan also is designed to encourage stock
ownership by Participants, thereby aligning their interests with those of the Company’s shareholders and to permit the payment of compensation that qualifies as performance-based compensation under Section 162(m) of the Code. 

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 “1933 Act” means the Securities Act of 1933, as amended. Reference to a specific section of the 1933 Act or regulation
thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

2.2 “1934 Act” means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the 1934 Act or
regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or
regulation. 
 2.3 “Applicable Laws” means the legal and regulatory requirements relating to the administration of
equity-based awards, including but not limited to U.S. federal and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Company’s common stock is listed or quoted and the
applicable laws of any non-U.S. country or jurisdiction where Awards are, or will be, granted under the Plan. 
 2.4
“Award” means, individually or collectively, a grant under the Plan of Incentive Stock Options, Nonqualified Stock Options, SARs, Restricted Stock, Restricted Stock Units, Performance Units, or Performance Shares. 

  
 A-1 

 2.5 “Award Agreement” means the written agreement (which may be in electronic
form) setting forth the terms and conditions applicable to each Award granted under the Plan. 
 2.6 “Board” or
“Board of Directors” means the Board of Directors of the Company. 
 2.7 “Cash Flow” means as to any
Performance Period, cash generated from operating activities. 
 2.8 “Code” means the Internal Revenue Code of 1986, as
amended. Reference to a specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation
amending, supplementing or superseding such section or regulation. 
 2.9 “Committee” means the committee appointed by the
Board (pursuant to Section 3.1) to administer the Plan. 
 2.10 “Company” means Polycom, Inc., a Delaware corporation,
or any successor thereto. 
 2.11 “Consultant” means any consultant, independent contractor, or other person who is a
natural person and provides significant services to the Company or its Subsidiaries, but who is neither an Employee nor a Director; provided, however, that the services (a) are not in connection with the offer or sale of securities in a
capital-raising transaction, and (b) do not directly promote or maintain a market for the Company’s securities, in each case, within the meaning of Form S-8 promulgated under the 1933 Act. For the avoidance of doubt, such
significant services may include services as a legal director, or as a member of the board of directors, of a Subsidiary, as applicable. 

2.12 “Customer Satisfaction” means as to any Performance Period, the objective and measurable goals approved by the Committee
that relate to fulfillment of customer expectations and/or customer ratings. 
 2.13 “Determination Date” means the latest
possible date that will not jeopardize the qualification of an Award granted under the Plan as “performance-based compensation” under Section 162(m) of the Code. 

2.14 “Director” means any individual who is a member of the Board of Directors of the Company. 

2.15 “Disability” means a permanent disability in accordance with a policy or policies established by the Committee (in its
discretion) from time to time. 
 2.16 “Earnings Per Share” means as to any Performance Period, the Company’s
after-tax Profit, divided by a weighted average number of common shares outstanding and dilutive common equivalent shares deemed outstanding. 

2.17 “Employee” means any employee of the Company or of a Subsidiary, whether such employee is so employed at the time the
Plan is adopted or becomes so employed subsequent to the adoption of the Plan. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

2.18 “Exchange Program” means a program established by the Committee, subject to stockholder approval as set forth in
Section 3.2, under which outstanding Awards are amended to provide for a lower Exercise Price or surrendered or cancelled in exchange for (a) Awards with a lower Exercise Price, (b) a different type of Award, (c) cash, or
(d) a combination of (a), (b) and/or (c). Notwithstanding the preceding, the term Exchange Program does not include any (i) action described in Section 4.3, nor (ii) transfer or other disposition permitted under
Section 13.7. 
 2.19 “Exercise Price” means the price at which a Share may be purchased by a Participant pursuant to
the exercise of an Option. 
 2.20 “Fair Market Value” means the closing per share selling price for Shares on Nasdaq on
the relevant date, or if there were no sales on such date, the closing sales price on the immediately preceding trading date, as 

  
 A-2 

 
reported by The Wall Street Journal or such other source selected in the discretion of the Committee (or its delegate). Notwithstanding the preceding, for federal, state, and local income tax
reporting purposes, fair market value shall be determined by the Committee (or its delegate) in accordance with uniform and nondiscriminatory standards adopted by it from time to time. 

2.21 “Fiscal Quarter” means a fiscal quarter within a Fiscal Year of the Company. 

2.22 “Fiscal Year” means the fiscal year of the Company. 

2.23 “Full Value Award” means an Award of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units.

 2.24 “Grant Date” means, with respect to an Award, the date on which the Committee makes the determination granting such
Award, or such other later date as is determined by the Committee. The Grant Date of an Award shall not be earlier than the date the Award is approved by the Committee. 

2.25 “Incentive Stock Option” means an Option that by its terms qualifies as and is intended to qualify as an incentive stock
option within the meaning of Section 422 of the Code. 
 2.26 “Margin” means as to any Performance Period, Revenue
less appropriate costs and expenses for the type of margin determined by the Committee (for example, but not by way of limitation, gross margin, operating margin or contribution margin). 

2.27 “Nonemployee Director” means a Director who is an employee of neither the Company nor of any Subsidiary. 

2.28 “Nonqualified Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an
Incentive Stock Option. 
 2.29 “Option” means a stock option to purchase Shares. An Option may be either an Incentive
Stock Option or a Nonqualified Stock Option. 
 2.30 “Participant” means the holder of an outstanding Award. 

2.31 “Performance Goals” means the goal(s) (or combined goal(s)) determined by the Committee (in its discretion) to be
applicable to a Participant with respect to an Award. As determined by the Committee, the Performance Goals applicable to an Award may provide for a targeted level or levels of achievement using one or more of the following measures: (a) Cash
Flow, (b) Customer Satisfaction, (c) Earnings Per Share, (d) Margin, (e) Product Quality, (f) Product Unit Sales, (g) Profit, (h) Return on Equity, (i) Revenue and (j) Total Shareholder Return. 

2.32 “Performance Period” means any Fiscal Year or such other period longer or shorter than a Fiscal Year but, in any case,
not shorter than a Fiscal Quarter or longer than four (4) Fiscal Years, as determined by the Committee in its sole discretion. 
 2.33
“Performance Share” means an Award granted to a Participant pursuant to Section 9. 
 2.34 “Performance
Unit” means an Award granted to a Participant pursuant to Section 8. 
 2.35 “Period of Restriction” means
the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. As provided in Section 7, such restrictions may be based on the passage of
time, the achievement of target levels of performance, or the occurrence of other events as determined by the Committee, in its discretion. 

  
 A-3 

 2.36 “Plan” means the Polycom, Inc. 2011 Equity Incentive Plan, as set forth in
this instrument and as hereafter amended from time to time. 
 2.37 “Product Quality” means as to any Performance Period,
the objective and measurable goals approved by the Committee for the creation or manufacture of products, which goals may include (but not by way of limitation) conformance to design specifications or requirements not to exceed specified defect
levels. 
 2.38 “Product Unit Sales” means as to any Performance Period, the number of product units sold to third parties.

 2.39 “Profit” means as to any Performance Period, income. 

2.40 “Restricted Stock” means an Award granted to a Participant pursuant to Section 7. 

2.41 “Restricted Stock Unit or RSU” means an Award granted to a Participant pursuant to Section 10. 

2.42 “Retirement” means, in the case of an Employee or a Nonemployee Director, a Termination of Service occurring in
accordance with a policy or policies established by the Committee (in its discretion) from time to time. With respect to a Consultant, no Termination of Service shall be deemed to be on account of “Retirement.” 

2.43 “Return on Equity” means as to any Performance Period, the percentage equal to the Company’s after-tax Profit
divided by average stockholder’s equity. 
 2.44 “Revenue” means as to any Performance Period, the Company’s net
revenues generated from third parties. 
 2.45 “Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, and any future
regulation amending, supplementing or superseding such regulation. 
 2.46 “Section 16(b)” means Section 16(b) of the
1934 Act. 
 2.47 “Section 16 Person” means an individual who, with respect to Shares, is subject to Section 16
of the 1934 Act and the rules and regulations promulgated thereunder. 
 2.48 “Shares” means the shares of common stock of
the Company. 
 2.49 “Stock Appreciation Right” or “SAR” means an Award, granted alone or in connection
with a related Option, that pursuant to Section 6 is designated as an SAR. 
 2.50 “Subsidiary” means any corporation
in an unbroken chain of corporations beginning with the Company as the corporation at the top of the chain, but only if each of the corporations below the Company (other than the last corporation in the unbroken chain) then owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

2.51 “Tax Obligations” means tax and social insurance or social security liability obligations and requirements in connection
with the Awards, including, without limitation, (a) all federal, state, and local income, employment and any other taxes (including the Participant’s FICA obligation) that are required to be withheld by the Company or the employing Company
affiliate, (b) the Participant’s and, to the extent required by the Company (or Subsidiary), the Company’s (or Subsidiary’s) fringe benefit tax liability, if any, associated with the grant, vesting, exercise of an Award or sale
of Shares, and (c) any other taxes or social insurance or social security liabilities or premium the responsibility for which the Participant has, or has agreed to, bear with respect to such Award (or exercise thereof or issuance of Shares
thereunder). 

  
 A-4 

 2.52 “Termination of Service” means (a) in the case of an Employee, a
cessation of the employee-employer relationship between the Employee and the Company or a Subsidiary for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, Retirement, or the
disaffiliation of a Subsidiary, but excluding any such termination where there is a simultaneous reemployment by the Company or a Subsidiary; (b) in the case of a Consultant, a cessation of the service relationship between the Consultant and
the Company or a Subsidiary for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, or the disaffiliation of a Subsidiary, but excluding any such termination where there is a simultaneous
re-engagement of the consultant by the Company or a Subsidiary; and (c) in the case of a Nonemployee Director, a cessation of the Director’s service on the Board for any reason, including, but not by way of limitation, a termination by
resignation, death, Disability, Retirement or non-reelection to the Board. Notwithstanding the foregoing, the Committee, in its discretion, may specify in an Award Agreement that a Termination of Service will not be deemed to occur when, without
interruption of service, the Participant’s status as an Employee, Consultant or Director changes to a different status as an Employee, Consultant or Director, as applicable (for example, if a Participant who is an Employee ceases to be an
Employee but immediately thereafter becomes a Consultant). 
 2.53 “Total Shareholder Return” means as to any Performance
Period, the total return (change in share price plus reinvestment of any dividends) of a Share. 
 SECTION 3 

ADMINISTRATION 
 3.1 The
Committee. The Plan shall be administered by the Committee. The Committee shall consist of not less than two (2) Directors who shall be appointed from time to time by, and shall serve at the pleasure of, the Board of Directors. The
Committee shall be comprised solely of Directors who are (a) “outside directors” under Section 162(m), and (b) “non-employee directors” under Rule 16b-3. 

3.2 Authority of the Committee. It shall be the duty of the Committee to administer the Plan in accordance with the Plan’s
provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which Employees, Consultants and Directors
shall be granted Awards, (b) prescribe the terms and conditions of the Awards, (c) interpret the Plan and the Awards, (d) adopt such procedures and subplans as are necessary or appropriate for the purpose of satisfying applicable
non-U.S. laws or for qualifying for favorable tax treatment under applicable non-U.S. laws, (e) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (f) interpret, amend or revoke
any such rules. Notwithstanding the preceding, the Committee shall not implement an Exchange Program. 
 3.3 Delegation by the Committee
or Board. The Committee or the Board, each in its sole discretion and on such terms and conditions as it may provide, may delegate all or any part of the Committee’s authority and powers under the Plan to one or more Directors and/or
officers of the Company, except that the Committee may not delegate all or any part of its authority under the Plan with respect to Awards granted to a Section 16 Person. Notwithstanding the foregoing, with respect to Awards that are intended
to qualify as performance-based compensation under Section 162(m) of the Code, the Committee may not delegate its authority and powers with respect to such Awards if such delegation would cause the Awards to fail to so qualify. To the extent of
any authority delegated by the Committee or the Board to a delegate or delegates under this Section 3.3, any reference to the Committee in this Plan and any Award Agreement also shall be deemed to include reference to the applicable delegate or
delegates. 
 3.4 Decisions Binding. All interpretations, determinations and decisions made by the Committee, the Board, and any
authorized delegate of the Committee or the Board pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 

  
 A-5 

 SECTION 4 

SHARES SUBJECT TO THE PLAN 

4.1 Number of Shares. Subject to adjustment as provided in Section 4.3, the total number of Shares available issuance under
the Plan shall equal the sum of (a) 35,900,000 and (b) any Shares (not to exceed 13,636,548) that otherwise would have been returned to the 2004 Equity Incentive Plan after May 26, 2011, on account of the expiration, cancellation
or forfeiture of awards granted under the Company’s 1996 Stock Incentive Plan or 2004 Equity Incentive Plan. Shares granted under the Plan may be either authorized but unissued Shares or treasury Shares. 

4.2 Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to Full
Value Awards, is forfeited to or repurchased by the Company, the unpurchased Shares (or for Full Value Awards, the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the
Plan has terminated). Upon exercise of a Stock Appreciation Right settled in Shares, the gross number of Shares covered by the portion of the Award so exercised will cease to be available under the Plan. Shares that have been issued under the Plan
under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if unvested Shares of Full Value Awards are repurchased by the Company or are forfeited to the Company,
such Shares will become available for future grant under the Plan. Shares used to pay the exercise or purchase price of an Award and/or to satisfy the tax withholding obligations related to an Award will not become available for future grant or sale
under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not reduce the number of Shares available for issuance under the Plan. Notwithstanding the foregoing provisions of this
Section 4.2, subject to adjustment provided in Section 4.3, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 4.1, plus, to the extent
allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan under this Section 4.2. 

4.3 Adjustments in Awards and Authorized Shares. In the event that any dividend or other distribution (whether in the form of
cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or
other change in the corporate structure of the Company affecting the Shares such that an adjustment is determined by the Committee (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or potential
benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust the number and class of Shares which may be delivered under the Plan, the number, class, and price of Shares subject to
outstanding Awards, and the number of Restricted Stock Units to be granted under Section 12.2. Notwithstanding the preceding, the number of Shares subject to any Award always shall be a whole number. 

4.4 Full Value Awards. Full Value Awards granted before June 5, 2013, under the Plan shall count against the numerical
limits in Section 4.1 of the Plan as 1.83 Shares for every one Share subject thereto. If Shares acquired pursuant to Full Value Awards granted before June 5, 2013, are forfeited to the Company and otherwise would return to the Plan
pursuant to Section 4.2 of the Plan, 1.83 times the number of Shares so forfeited shall become available for issuance. Full Value Awards granted on or after June 5, 2013, under the Plan shall count against the numerical limits in
Section 4.1 of the Plan as 1.54 Shares for every one Share subject thereto. If Shares acquired pursuant to Full Value Awards granted on or after June 5, 2013, are forfeited to the Company and otherwise would return to the Plan
pursuant to Section 4.2 of the Plan, 1.54 times the number of Shares so forfeited shall become available for issuance. 

  
 A-6 

 4.5 Per Person Award Limits. Notwithstanding any provision to the contrary under the
Plan, during the Fiscal Year, no Participant shall be granted Awards with an aggregate grant date fair value (determined in accordance with Item 402(c)(2)(v) and (vi) of Regulation S-K [17 CFR Part 229] and applicable
instructions thereto) exceeding $10,000,000; provided, however, that during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted additional Awards with an aggregate grant date fair value (determined in
accordance with Item 402(c)(2)(v) and (vi) of Regulation S-K [17 CFR Part 229] and applicable instructions thereto) of up to $5,000,000. 

SECTION 5 
 STOCK OPTIONS

 5.1 Grant of Options. Subject to the terms and provisions of the Plan, Options may be granted to Employees, Directors and
Consultants at any time and from time to time as determined by the Committee in its sole discretion. The Committee, in its sole discretion, shall determine the number of Shares, subject to Section 4.5. The Committee may grant Incentive Stock
Options, Nonqualified Stock Options, or a combination thereof. 
 5.2 Award Agreement. Each Option shall be evidenced by an
Award Agreement that shall specify the Exercise Price, the expiration date of the Option, the number of Shares covered by the Option, any conditions to exercise the Option, and such other terms and conditions as the Committee, in its discretion,
shall determine. The Award Agreement shall also specify whether the Option is intended to be an Incentive Stock Option or a Nonqualified Stock Option. 

5.3 Exercise Price. Subject to the provisions of this Section 5.3, the Exercise Price for each Option shall be determined by
the Committee in its sole discretion. 
 5.3.1 Nonqualified Stock Options. The Exercise Price of each Nonqualified Stock Option shall
be determined by the Committee in its discretion but shall be not less than one hundred percent (100%) of the Fair Market Value of a Share on the Grant Date. 

5.3.2 Incentive Stock Options. In the case of an Incentive Stock Option, the Exercise Price shall be not less than one hundred percent
(100%) of the Fair Market Value of a Share on the Grant Date; provided, however, that if on the Grant Date, the Employee (together with persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code)
owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any of its Subsidiaries, the Exercise Price shall be not less than one hundred and ten percent (110%) of the Fair Market Value of a
Share on the Grant Date. 
 5.3.3 Substitute Options. Notwithstanding the other provisions of this Section 5.3, in the event
that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees, Nonemployee Directors or Consultants on
account of such transaction may be granted Options in substitution for options granted by their former employer. If such substitute Options are granted, the Committee, in its sole discretion and consistent with Section 424(a) of the Code, may
determine that such substitute Options shall have an Exercise Price less than one hundred percent (100%) of the Fair Market Value of a Share on the Grant Date. 

5.4 Expiration of Options. 

5.4.1 Expiration Dates. Each Option shall terminate no later than the first to occur of the following events: 

(a) The date for termination of the Option set forth in the Award Agreement; or 

(b) The expiration of ten (10) years from the Grant Date. 

5.4.2 Death of Participant. Notwithstanding Section 5.4.1, if a Participant dies prior to the expiration of his or her Options,
the Committee, in its discretion, may provide that his or her Options shall be exercisable for 

  
 A-7 

 
up to three (3) years after the date of death. With respect to extensions that were not included in the original terms of the Option but were provided by the Committee after the Grant Date,
if at the time of any such extension, the Exercise Price of the Option is less than the Fair Market Value of a Share, the extension shall, unless otherwise determined by the Committee, be limited to the earlier of (a) the maximum term of the
Option as set by its original terms, or (b) ten (10) years from the Grant Date. 
 5.4.3 Committee Discretion. Subject to
the ten and thirteen-year limits of Sections 5.4.1 and 5.4.2, the Committee, in its sole discretion, (a) shall provide in each Award Agreement when each Option expires and becomes unexercisable, and (b) may, after an Option is
granted, extend the maximum term of the Option (subject to Section 5.8.4 regarding Incentive Stock Options). With respect to the Committee’s authority in Section 5.4.3(b), if, at the time of any such extension, the Exercise Price of
the Option is less than the Fair Market Value of a Share, the extension shall, unless otherwise determined by the Committee, be limited to the earlier of (1) the maximum term of the Option as set by its originals terms, or (2) ten
(10) years from the Grant Date. Unless otherwise determined by the Committee, any extension of the term of an Option pursuant to this Section 5.4.3 shall comply with Section 409A of the Code to the extent applicable. 

5.5 Exercisability of Options. Options granted under the Plan shall be exercisable at such times and be subject to such
restrictions and conditions as the Committee shall determine in its sole discretion. An Option may not be exercised for a fraction of a Share. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of
the Option. 
 5.6 Payment. Options shall be exercised by the Participant giving notice and following such procedures as the
Company (or its designee) may specify from time to time. Exercise of an Option also requires that the Participant make arrangements satisfactory to the Company for full payment of the aggregate exercise price for the exercised Shares. All exercise
notices shall be given in the form and manner specified by the Company (or its designee) from time to time. 
 The Exercise Price shall be
payable to the Company in full in cash or its equivalent. The Committee, in its sole discretion, also may permit exercise (a) by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the
aggregate exercise price of the exercised Shares, or (b) by any other means which the Committee, in its sole discretion, determines to both provide legal consideration for the exercised Shares, and to be consistent with the purposes of the
Plan. As soon as practicable after receipt of a notification of exercise satisfactory to the Company and full payment for the Shares purchased, the Company shall deliver to the Participant (or the Participant’s designated broker), Share
certificates (which may be in book entry form) representing such Shares. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or
receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is
exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 4.3 of the Plan. 

5.7 Restrictions on Share Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the
exercise of an Option as it may deem advisable, including, but not limited to, restrictions related to applicable federal securities laws, the requirements of any national securities exchange or system upon which Shares are then listed or traded, or
any blue sky or state securities laws. 
 5.8 Certain Additional Provisions for Incentive Stock Options. 

5.8.1 Exercisability. The aggregate Fair Market Value (determined on the Grant Date(s)) of the Shares with respect to which Incentive
Stock Options are exercisable for the first time by any Employee during any calendar year (under all plans of the Company and its Subsidiaries) shall not exceed $100,000. 

5.8.2 Termination of Service. No Incentive Stock Option may be exercised more than three (3) months after the Participant’s
Termination of Service for any reason other than Disability or death, unless (a) the Participant 

  
 A-8 

 
dies during such three (3) month period, and/or (b) the Award Agreement or the Committee permits later exercise (in which case the Option instead may be deemed to be a Nonqualified
Stock Option). No Incentive Stock Option may be exercised more than one (1) year after the Participant’s Termination of Service on account of Disability, unless (a) the Participant dies during such one (1) year period, and/or
(b) the Award Agreement or the Committee permits later exercise (in which case the Option instead may be deemed to be a Nonqualified Stock Option). 

5.8.3 Employees Only. Incentive Stock Options may be granted only to persons who are Employees on the Grant Date. 

5.8.4 Expiration. No Incentive Stock Option may be exercised after the expiration of ten (10) years from the Grant Date; provided,
however, that if the Option is granted to an Employee who, together with persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code, owns stock possessing more than 10% of the total combined voting power
of all classes of the stock of the Company or any of its Subsidiaries, the Option may not be exercised after the expiration of five (5) years from the Grant Date. 

5.8.5 Leave of Absence. For purposes of Incentive Stock Options, no leave of absence may exceed three (3) months, unless
reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day of such
leave, any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonqualified Stock Option. 

SECTION 6 
 STOCK
APPRECIATION RIGHTS 
 6.1 Grant of SARs. Subject to the terms and conditions of the Plan, a SAR may be granted to
Employees, Directors and Consultants at any time and from time to time as shall be determined by the Committee, in its sole discretion. 

6.1.1 Number of Shares. The Committee shall have complete discretion to determine the number of SARs granted to any Participant,
subject to Section 4.5. 
 6.1.2 Exercise Price and Other Terms. The Committee, subject to the provisions of the Plan, shall
have complete discretion to determine the terms and conditions of SARs granted under the Plan. The Exercise Price of each SAR shall be determined by the Committee in its discretion but shall not be less than one hundred percent (100%) of the
Fair Market Value of a Share on the Grant Date. Notwithstanding the foregoing, SARs may be granted with an Exercise Price of less than one hundred percent (100%) of the Fair Market Value per Share on the Grant Date pursuant to the rules of
Section 5.3.3, which also shall apply to SARs. 
 6.2 SAR Agreement. Each SAR grant shall be evidenced by an Award
Agreement that shall specify the Exercise Price, the term of the SAR, the conditions of exercise, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

6.3 Expiration of SARs. An SAR granted under the Plan shall expire upon the date determined by the Committee, in its sole
discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 5.4 also shall apply to SARs. 

6.4 Payment of SAR Amount. Upon exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an
amount determined by multiplying: 
 (a) The difference between the Fair Market Value of a Share on the date of exercise over the Exercise
Price; times 
 (b) The number of Shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment upon
SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof. 

  
 A-9 

 SECTION 7 

RESTRICTED STOCK 
 7.1
Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Shares of Restricted Stock to Employees, Directors and Consultants as the Committee, in its sole
discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Shares to be granted to each Participant, subject to Section 4.5. 

7.2 Restricted Stock Agreement. Each Award of Restricted Stock shall be evidenced by an Award Agreement that shall specify any
Period of Restriction, the number of Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. Unless the Committee (or its designee(s)) determines otherwise, Shares of Restricted Stock shall be
held by the Company as escrow agent until the restrictions on such Shares have lapsed. 
 7.3 Transferability. Except as
provided in this Section 7, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of any applicable Period of Restriction. 

7.4 Other Restrictions. The Committee, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as
it may deem advisable or appropriate, in accordance with this Section 7.4. 
 7.4.1 General Restrictions. The Committee may set
restrictions based upon continued employment or service with the Company and its affiliates, the achievement of specific performance objectives (Company-wide, departmental, or individual), applicable federal or state securities laws, or any other
basis determined by the Committee in its discretion. 
 7.4.2 Section 162(m) Performance Restrictions. For purposes of
qualifying grants of Restricted Stock as “performance-based compensation” under Section 162(m) of the Code, the Committee, in its discretion, may set restrictions based upon the achievement of Performance Goals. The Performance Goals
shall be set by the Committee on or before the Determination Date. In granting Restricted Stock which is intended to qualify under Section 162(m) of the Code, the Committee shall follow any procedures determined by it from time to time to be
necessary or appropriate to ensure qualification of the Restricted Stock under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

7.4.3 Legend on Certificates. The Committee, in its discretion, may require that a legend be placed on the certificates representing
Restricted Stock to give appropriate notice of the applicable restrictions. 
 7.5 Removal of Restrictions. Except as otherwise
provided in this Section 7, Shares of Restricted Stock covered by each Restricted Stock Award shall be released from escrow as soon as practicable after the last day of the Period of Restriction. The Committee, in its discretion, may accelerate
the time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the Participant shall be entitled to have any legend or legends under Section 7.4.3 removed from his or her Share certificate, and the Shares
shall be freely transferable by the Participant. The Committee (in its discretion) may establish procedures regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens on the
Company. 
 7.6 Voting Rights. During the Period of Restriction, Participants holding Shares of Restricted Stock granted
hereunder may exercise full voting rights with respect to those Shares, unless the Committee determines otherwise. 
 7.7 Dividends and
Other Distributions. During the Period of Restriction, Participants holding Shares of Restricted Stock shall be entitled to receive all dividends and other distributions paid with respect to such Shares

  
 A-10 

 
unless otherwise provided in the Award Agreement. Any such dividends or distribution shall be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted
Stock with respect to which they were paid, unless otherwise provided in the Award Agreement. 
 7.8 Return of Restricted Stock to
Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed shall be forfeited and revert to the Company and, subject to Section 4.2, again shall become available for grant under
the Plan. 
 SECTION 8 

PERFORMANCE UNITS 
 8.1
Grant of Performance Units. Performance Units may be granted to Employees, Directors and Consultants at any time and from time to time, as shall be determined by the Committee, in its sole discretion. The Committee shall have complete
discretion in determining the number of Performance Units granted to each Participant, subject to Section 4.5. 
 8.2 Value of
Performance Units. Each Performance Unit shall have an initial value that is established by the Committee on or before the Grant Date. 

8.3 Performance Objectives and Other Terms. The Committee, in its discretion, shall set any performance objectives or other
vesting criteria which, depending on the extent to which they are met, will determine the number or value of Performance Units that will be paid out to the Participants. Each Award of Performance Units shall be evidenced by an Award Agreement that
shall specify any applicable Performance Period, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

8.3.1 General Performance Objectives or Vesting Criteria. The Committee may set performance objectives or vesting criteria based upon
the achievement of Company-wide, departmental, or individual goals, applicable federal or state securities laws, or any other basis determined by the Committee in its discretion (for example, but not by way of limitation, continuous service as an
Employee, Director or Consultant). 
 8.3.2 Section 162(m) Performance Objectives. For purposes of qualifying grants of
Performance Units as “performance-based compensation” under Section 162(m) of the Code, the Committee, in its discretion, may determine that the performance objectives applicable to Performance Units shall be based on the achievement
of Performance Goals. In that case, the Performance Goals shall be set by the Committee on or before the Determination Date. In granting Performance Units that are intended to qualify under Section 162(m) of the Code, the Committee shall follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Performance Units under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

8.4 Earning of Performance Units. After the applicable Performance Period has ended, the holder of Performance Units shall be
entitled to receive a payout of the number of Performance Units earned by the Participant over the Performance Period, to be determined as a function of the extent to which any applicable performance objectives have been achieved and any time-based
or other vesting requirements have been satisfied. After the grant of a Performance Unit, the Committee, in its sole discretion, may reduce or waive any performance objectives for such Performance Unit and may accelerate the time at which any
restrictions will lapse or be removed. 
 8.5 Form and Timing of Payment of Performance Units. Payment of earned Performance
Units shall be made as soon as practicable after the expiration of the applicable Performance Period (subject to any deferral permitted under Section 13.1), or as otherwise provided in the applicable Award Agreement or as required by Applicable
Laws. The Committee, in its sole discretion, may pay earned Performance Units in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units at the close of the applicable Performance
Period) or in a combination thereof. 
 8.6 Cancellation of Performance Units. On the date set forth in the Award Agreement, all
unearned or unvested Performance Units shall be forfeited to the Company, and, subject to Section 4.2, again shall be available for grant under the Plan. 

  
 A-11 

 SECTION 9 

PERFORMANCE SHARES 
 9.1
Grant of Performance Shares. Performance Shares may be granted to Employees, Directors and Consultants at any time and from time to time, as shall be determined by the Committee, in its sole discretion. The Committee shall have complete
discretion in determining the number of Performance Shares granted to each Participant, subject to Section 4.5. 
 9.2 Value of
Performance Shares. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the Grant Date. 

9.3 Performance Share Agreement. Each Award of Performance Shares shall be evidenced by an Award Agreement that shall specify any
vesting conditions, the number of Performance Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

9.4 Performance Objectives and Other Terms. The Committee, in its discretion, shall set any performance objectives or other
vesting criteria which, depending on the extent to which they are met, will determine the number or value of Performance Shares that will be paid out to the Participants. Each Award of Performance Shares shall be evidenced by an Award Agreement that
shall specify the Performance Period, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

9.4.1 General Performance Objectives or Vesting Criteria. The Committee may set performance objectives or vesting criteria based upon
the achievement of Company-wide, departmental, or individual goals, applicable federal or state securities laws, or any other basis determined by the Committee in its discretion (for example, but not by way of limitation, continuous service as an
Employee, Director or Consultant). 
 9.4.2 Section 162(m) Performance Objectives. For purposes of qualifying grants of
Performance Shares as “performance-based compensation” under Section 162(m) of the Code, the Committee, in its discretion, may determine that any performance objectives applicable to Performance Shares shall be based on the
achievement of Performance Goals. In that case, the Performance Goals shall be set by the Committee on or before the Determination Date. In granting Performance Shares that are intended to qualify under Section 162(m) of the Code, the Committee
shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Performance Shares under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

9.5 Earning of Performance Shares. After the applicable Performance Period has ended, the holder of Performance Shares shall be
entitled to receive a payout of the number of Performance Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which any applicable performance objectives for the Performance Period have been
achieved and any time-based or other vesting requirements have been satisfied. After the grant of a Performance Share, the Committee, in its sole discretion, may reduce or waive any performance objectives for such Performance Share and may
accelerate the time at which any restrictions will lapse or be removed. 
 9.6 Form and Timing of Payment of Performance
Shares. Payment of vested Performance Shares shall be made as soon as practicable after the expiration of the applicable Performance Period (subject to any deferral permitted under Section 13.1), or as otherwise provided in the
applicable Award Agreement or as required by Applicable Laws. The Committee, in its sole discretion, may pay earned Performance Shares in the form of cash, in Shares or in a combination thereof. 

9.7 Cancellation of Performance Shares. On the date set forth in the Award Agreement, all unvested Performance Shares shall be
forfeited to the Company, and except as otherwise determined by the Committee and, subject to Section 4.2, again shall be available for grant under the Plan. 

  
 A-12 

 SECTION 10 

RESTRICTED STOCK UNITS 

10.1 Grant of RSUs. Restricted Stock Units may be granted to Employees, Directors and Consultants at any time and from time to
time, as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion in determining the number of Restricted Stock Units granted to each Participant, subject to Section 4.5. 

10.2 Value of RSUs. Each Restricted Stock Unit shall have an initial value equal to the Fair Market Value of a Share on the Grant
Date. 
 10.3 RSU Agreement. Each Award of Restricted Stock Units shall be evidenced by an Award Agreement that shall specify
any vesting conditions, the number of Restricted Stock Units granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

10.4 Vesting and Other Terms. The Committee, in its discretion, shall set any performance objectives or other vesting criteria
which, depending on the extent to which they are met, will determine the number or value of Restricted Stock Units that will be paid out to the Participant. Each Award of Restricted Stock Units shall be evidenced by an Award Agreement that shall
specify any applicable Performance Period, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

10.4.1 General Performance Objectives or Vesting Criteria. The Committee may set performance objectives or vesting criteria based upon
the achievement of Company-wide, departmental, or individual goals, applicable federal or state securities laws, or any other basis determined by the Committee in its discretion (for example, but not by way of limitation, continuous service as an
Employee, Director or Consultant). 
 10.4.2 Section 162(m) Performance Objectives. For purposes of qualifying grants of
Restricted Stock Units as “performance-based compensation” under Section 162(m) of the Code, the Committee, in its discretion, may determine that the performance objectives applicable to Restricted Stock Units shall be based on the
achievement of Performance Goals. In that case, the Performance Goals shall be set by the Committee on or before the Determination Date. In granting Restricted Stock Units that are intended to qualify under Section 162(m) of the Code, the
Committee shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Restricted Stock Units under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

10.5 Earning of RSUs. After the applicable vesting period has ended, the holder of Restricted Stock Units shall be entitled to
receive a payout of the number of Restricted Stock Units earned by the Participant over the vesting period. After the grant of a Restricted Stock Unit, the Committee, in its sole discretion, may reduce or waive any vesting condition that must be met
to receive a payout for such Restricted Stock Unit and may accelerate the time at which any restrictions will lapse or be removed. 
 10.6
Form and Timing of Payment of RSUs. Payment of vested Restricted Stock Units shall be made as soon as practicable after the date(s) set forth in the Award Agreement (subject to any deferral permitted under Section 13.1) or as
otherwise provided in the applicable Award Agreement or as required by Applicable Laws. The Committee, in its sole discretion, may pay Restricted Stock Units in the form of cash, in Shares or in a combination thereof. 

10.7 Cancellation of RSUs. On the date set forth in the Award Agreement, all unearned Restricted Stock Units shall be forfeited to
the Company, and except as otherwise determined by the Committee and, subject to Section 4.2, again shall be available for grant under the Plan. 

  
 A-13 

 SECTION 11 

PERFORMANCE-BASED COMPENSATION UNDER CODE SECTION 162(m) 

11.1 General. If the Committee, in its discretion, decides to grant an Award intended to qualify as “performance-based
compensation” under Section 162(m) of the Code, the provisions of this Section 11 will control over any contrary provision in the Plan. The Committee, in its discretion, also may grant Awards that are not intended to qualify as
“performance-based compensation” under Section 162(m) of the Code. 
 11.2 Performance Goals. The granting and/or
vesting of Awards of Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units and other incentives under the Plan may, in the discretion of the Committee, be made subject to the attainment of Performance Goals. Any
Performance Goal used may be measured (a) in absolute terms, (b) in combination with another Performance Goal or Goals (for example, but not by way of limitation, as a ratio or matrix), (c) in relative terms (including, but not
limited to, as compared to results for other periods of time, and/or against another company, companies or an index or indices), (d) on a per-share or per-capita basis, (e) against the performance of the Company as a whole or a specific
business unit(s) or product(s) of the Company and/or (f) on a pre-tax or after-tax basis. Prior to the Determination Date, the Committee will determine whether any significant element(s) or item(s) will be included in or excluded from the
calculation of any Performance Goal with respect to any Participants (for example, but not by way of limitation, the effect of mergers and acquisitions). As determined by the Committee prior to the Determination Date, achievement of Performance
Goals for a particular Award may be calculated in accordance with the Company’s financial statements, prepared in accordance with generally accepted accounting principles, or as adjusted for certain costs, expenses, gains and losses to provide
non-GAAP measures of operating results. The Performance Goals may differ from Participant to Participant and from Award to Award. 
 11.3
Procedures. To the extent necessary to comply with the performance-based compensation provisions of Section 162(m) of the Code, with respect to any Award granted subject to Performance Goals and intended to qualify as
“performance-based compensation” under Section 162(m) of the Code, on or before the Determination Date (i.e., within the first twenty-five percent (25%) of the Performance Period, but in no event more than ninety (90) days
following the commencement of any Performance Period or such other time as may be required or permitted by Section 162(m) of the Code), the Committee will, in writing, (i) designate one or more Participants to whom an Award will be made,
(ii) determine the Performance Period, (iii) establish the Performance Goals and amounts that may be earned for the Performance Period, and (iv) determine any other terms and conditions applicable to the Award(s). 

11.4 Additional Limitations. Notwithstanding any other provision of the Plan, any Award that is granted to a Participant and is
intended to constitute qualified performance-based compensation under Section 162(m) of the Code will be subject to any additional limitations set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling
issued thereunder that are requirements for qualification as “performance-based compensation” under Section 162(m) of the Code, and the Plan will be deemed amended to the extent necessary to conform to such requirements. 

11.5 Determination of Amounts Earned. Following the completion of each Performance Period, the Committee will certify in writing
whether the applicable Performance Goals have been achieved for such 

  
 A-14 

 
Performance Period. A Participant will be eligible to receive payment pursuant to an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code
for a Performance Period only if the Performance Goals for such period are achieved. In determining the amounts earned by a Participant pursuant to an Award intended to qualified as “performance-based compensation” under
Section 162(m) of the Code, the Committee will have the right to (a) reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant
to the assessment of individual or corporate performance for the Performance Period, (b) determine what actual Award, if any, will be paid in the event of a termination of employment as the result of a Participant’s death or disability or
upon a change in control or in the event of a termination of employment following a change in control prior to the end of the Performance Period, and (c) determine what actual Award, if any, will be paid in the event of a termination of
employment other than as the result of a Participant’s death or disability prior to a change in control and prior to the end of the Performance Period to the extent an actual Award would have otherwise been achieved had the Participant remained
employed through the end of the Performance Period. 
 SECTION 12 

NONEMPLOYEE DIRECTOR AWARDS 

12.1 General. Nonemployee Directors will be eligible to be granted all types of Awards under this Plan, including discretionary
Awards not covered under this Section 12. All grants of Restricted Stock Units to Nonemployee Directors pursuant to this Section 12 will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance
with the following provisions: 
 12.2 Awards. 

12.2.1 Initial Grants. Each Nonemployee Director who first becomes a Nonemployee Director on or after the 2015 Annual Meeting of the
Company’s Stockholders, automatically shall receive, as of the date that the individual first is appointed or elected as a Nonemployee Director, the number of Restricted Stock Units determined by multiplying (A) 20,000 by (B) the
percentage determined by dividing (i) the number of calendar months that remain in the one-year period commencing on the date of the last Annual Meeting of the Company’s Stockholders immediately preceding the date the individual is first
appointed or elected as a Nonemployee Director, including the month in which the individual is so appointed or elected, by (ii) 12, rounded down to the nearest whole Restricted Stock Unit. 

12.2.2 Ongoing Grants. Each Nonemployee Director who is reelected as such at an Annual Meeting of the Company’s Stockholders,
automatically shall receive, as of the date of such Annual Meeting, 20,000 Restricted Stock Units. 
 12.3 Terms of Restricted Stock Unit
Awards. 
 12.3.1 Award Agreement. Each Award of Restricted Stock Units granted pursuant to this Section 12 shall be
evidenced by a written Award Agreement between the Participant and the Company. 
 12.3.2 Vesting Schedule/Period of Restriction.
Each Award of Restricted Stock Units granted pursuant to this Section 12 shall vest at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. Except as otherwise determined by the
Committee in its sole discretion and set forth in the Award Agreement, once a Participant ceases to be a Director, the Shares subject to Restricted Stock Units that have not vested shall revert to the Company at no cost to the Company and, subject
to Section 4.2, again shall become available for grant under the Plan. 
 12.3.3 Other Terms. All provisions of the Plan not
inconsistent with this Section 12 shall apply to Awards of Restricted Stock Units granted to Nonemployee Directors. 

  
 A-15 

 12.4 Elections by Nonemployee Directors. Pursuant to such procedures as the Committee
(in its discretion) may adopt from time to time, each Nonemployee Director may elect to forego receipt of all or a portion of the annual retainer, committee fees and meeting fees otherwise due to the Nonemployee Director in exchange for Shares or
Awards granted under the Plan. The number of Shares subject to Awards received by any Nonemployee Director shall equal the amount of foregone compensation divided by the Fair Market Value of a Share on the date the compensation otherwise would have
been paid to the Nonemployee Director, rounded up to the nearest whole number of Shares. The procedures adopted by the Committee for elections under this Section 12.4 shall be designed to ensure that any such election by a Nonemployee Director
will not disqualify him or her as a “non-employee director” under Rule 16b-3. Unless otherwise determined by the Committee, the elections permitted under this Section 12.4 shall comply with Section 409A of the Code. 

SECTION 13 

MISCELLANEOUS 
 13.1
Deferrals. The Committee, in its sole discretion, may permit a Participant to defer receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award. If the Committee permits any
deferral elections, the Committee may determine that the deferral shall be subject to such rules, conditions and procedures as the Committee determines in its sole discretion and, unless otherwise expressly determined by the Committee, shall comply
with the requirements of Section 409A of the Code. To the extent a deferral is intended to comply with Section 409A of the Code, any ambiguities or ambiguous terms of the Plan, the applicable Award Agreement and the deferral election,
shall be interpreted to comply with the requirements of Section 409A. 
 13.2 Compliance with Code
Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Code Section 409A such that the grant, payment, settlement or deferral
will not be subject to the additional tax or interest applicable under Code Section 409A, except as otherwise determined in the sole discretion of the Committee. The Plan and each Award Agreement under the Plan is intended to meet the
requirements of Code Section 409A and will be construed and interpreted in accordance with such intent, including with respect to any ambiguities or ambiguous terms, except as otherwise determined in the sole discretion of the Committee. To the
extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the
grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. Each payment or benefit under this Plan and under each Award Agreement is intended to constitute a separate payment
for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. Notwithstanding the foregoing, in no event will the Company reimburse any Participant for any taxes that may be imposed upon Participant as a result of Code Section 409A.

 13.3 Forfeiture Events. The Committee may specify in an Award Agreement that the Participant’s rights, payments, and
benefits with respect to an Award will be subject to the reduction, cancellation, forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award.
Notwithstanding any provisions to the contrary under this Plan, an Award granted under the Plan shall be subject to the Company’s clawback policy as may be established and/or amended from time to time (the “Clawback Policy”).
The Board or the Committee, as applicable, may require a Participant to forfeit, return or reimburse the Company all or a portion of the Award and any amounts paid thereunder pursuant to the terms of the Clawback Policy or as necessary or
appropriate to comply with Applicable Laws. 
 13.4 No Effect on Employment or Service. Neither the Plan nor any Award will be
interpreted as forming an employment or service relationship with the Company or any Subsidiary. Further, neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the Participant’s relationship as a
service provider with the Company or any Subsidiary, nor will they interfere with or limit in any way the right of 

  
 A-16 

 
the Company or Subsidiary to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of employment of a Participant between
the Company and any one of its Subsidiaries (or between Subsidiaries) shall not be deemed a Termination of Service. Employment with the Company and its Subsidiaries is on an at-will basis only. 

13.5 Participation. No Employee, Director or Consultant shall have the right to be selected to receive an Award under this Plan,
or, having been so selected, to be selected to receive a future Award. 
 13.6 Indemnification. Each person who is or shall have
been a member of the Committee, or of the Board, shall be indemnified and held harmless by the Company against and from (a) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with
or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan or any Award Agreement, and (b) from any and all
amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she shall give the Company an
opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to
which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 

13.7 Successors. All obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any
successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 

13.8 Beneficiary Designations. If permitted by the Committee, a Participant under the Plan may name a beneficiary or beneficiaries
to whom any vested but unpaid Award shall be paid in the event of the Participant’s death. Each such designation shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner acceptable to the
Committee. In the absence of any such designation, any vested benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate and, subject to the terms of the Plan and of the applicable Award Agreement, any
unexercised vested Award may be exercised by the administrator or executor of the Participant’s estate. 
 13.9 Limited
Transferability of Awards. No Award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent provided
in Section 13.6. All rights with respect to an Award granted to a Participant shall be available during his or her lifetime only to the Participant. Notwithstanding the foregoing, a Participant may, if the Committee (in its discretion) so
permits, transfer an Award to an individual or entity other than the Company. Any such transfer shall be made without consideration and in accordance with such procedures as the Committee may specify from time to time. 

13.10 No Rights as Stockholder. Except to the limited extent provided in Sections 7.6 and 7.7, no Participant (nor any
beneficiary) shall have any of the rights or privileges of a stockholder of the Company with respect to any Shares issuable pursuant to an Award (or exercise thereof), unless and until certificates representing such Shares (which may be in book
entry form) shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Participant (or beneficiary). 

  
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 SECTION 14 

AMENDMENT, TERMINATION, AND DURATION 

14.1 Amendment, Suspension, or Termination. The Board, in its sole discretion, may amend, suspend or terminate the Plan, or any
part thereof, at any time and for any reason. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with applicable laws. The amendment, suspension, or termination of the Plan shall not,
without the consent of the Participant, alter or impair any rights or obligations under any Award theretofore granted to such Participant. No Award may be granted during any period of suspension or after termination of the Plan. Termination of the
Plan will not affect the Committee’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

14.2 Duration of the Plan. The Plan as amended and restated became effective as of May 27, 2015, and subject to
Section 14.1 (regarding the Board’s right to amend or terminate the Plan), shall remain in effect thereafter. However, without further stockholder approval, no Incentive Stock Option may be granted under the Plan after May 26, 2021.

 SECTION 15 
 TAX
WITHHOLDING 
 15.1 Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof), or at such earlier time as the Tax Obligations are due, the Company (and/or Subsidiary, as applicable) shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company (or Subsidiary, as
applicable), an amount sufficient to satisfy all Tax Obligations. 
 15.2 Withholding Arrangements. The Committee, in its sole
discretion and pursuant to such procedures as it may specify from time to time, may designate the method or methods by which a Participant may satisfy such Tax Obligations. As determined by the Committee in its discretion from time to time, these
methods may include one or more of the following: (a) paying cash, (b) electing to have the Company (or Subsidiary, as applicable) withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the amount required to be
withheld, (c) delivering to the Company already-owned Shares having a Fair Market Value equal to the minimum amount required to be withheld or remitted, provided the delivery of such Shares will not result in any adverse accounting consequences
as the Committee determines in its sole discretion, (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Committee may determine in its sole discretion (whether through a broker or
otherwise) equal to the Tax Obligations required to be withheld, (e) retaining from salary or other amounts payable to the Participant cash having a sufficient value to satisfy the Tax Obligations, or (f) any other means which the
Committee, in its sole discretion, determines to both comply with Applicable Laws, and to be consistent with the purposes of the Plan. The amount of Tax Obligations will be deemed to include any amount that the Committee agrees may be withheld at
the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant or the Company (or Subsidiary), as applicable, with respect to the Award on the
date that the amount of tax or social insurance liability to be withheld or remitted is to be determined. The Fair Market Value of the Shares to be withheld or delivered shall be determined as of the date that the Tax Obligations are required to be
withheld. 
 SECTION 16 

LEGAL CONSTRUCTION 
 16.1
Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

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

  
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 16.3 Requirements of Law. Shares shall not be issued pursuant to the exercise or
vesting of an Award unless the exercise or vesting of such Award and the issuance and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to such compliance.

 16.4 Securities Law Compliance. With respect to Section 16 Persons, transactions under this Plan are intended to qualify
for the exemption provided by Rule 16b-3. To the extent any provision of the Plan, Award Agreement or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable or appropriate by
the Committee. 
 16.5 Investment Representations. As a condition to the exercise of an Award, the Company may require the
person exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 16.6 Inability to Obtain Authority. The Company will not be required to issue any
Shares, cash or other property under the Plan unless all the following conditions are satisfied: (a) the admission of the Shares or other property to listing on all stock exchanges on which such class of stock or property then is listed;
(b) the completion of any registration or other qualification or rule compliance of the Shares under any U.S. state or federal law or under the rulings or regulations of the Securities and Exchange Commission, the stock exchange on which Shares
of the same class are then listed, or any other governmental regulatory body, as counsel to the Company, in its absolute discretion, deems necessary or advisable; (c) the obtaining of any approval or other clearance from any U.S. federal, state
or other governmental agency, which counsel to the Company, in its absolute discretion, determines to be necessary or advisable; and (d) the lapse of such reasonable period of time following the Grant Date, vesting and/or exercise as the
Company may establish from time to time for reasons of administrative convenience. If the Committee determines, in its absolute discretion, that one or more of the preceding conditions will not be satisfied, the Company automatically will be
relieved of any liability with respect to the failure to issue the Shares, cash or other property as to which such requisite authority will not have been obtained. 

16.7 Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State
of California (with the exception of its conflict of laws provisions). 
 16.8 Captions. Captions are provided herein for
convenience only, and shall not serve as a basis for interpretation or construction of the Plan. 

  
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