Document:

Exhibit 10.2

  Exhibit 10.2 – Material Contracts
  
 EMPLOYMENT AGREEMENT
  
 AGREEMENT MADE this 1st day of October 2018, between PISMO COAST VILLAGE, INC., a California corporation, having its principal place of business at 165 South Dolliver, Pismo Beach, California, hereinafter referred to as "EMPLOYER" and Jay N. Jamison, 17105 Oak Road, Atascadero, CA 93422, hereinafter referred to as "EMPLOYEE.”
  
 1.         TERM OF EMPLOYMENT:  The Employer hereby employs the Employee and the Employee hereby accepts employment with the Employer for a period of five (5) years beginning on the 1st day of October 2018, and ending on the 30th day of September 2023, with a renewable option for an additional five year period, unless earlier terminated as hereinafter provided.
  
 2.         DUTIES OF EMPLOYEE:  The Employee is hereby hired as Chief Executive Officer & General Manager of PISMO COAST VILLAGE, INC., located at 165 South Dolliver, Pismo Beach, California, and at such other place or places as may be directed by the Employer. The Employee will be responsible for the orderly daily operation of the business, properties and staff of PISMO COAST VILLAGE, INC., and will report directly to the President. In addition, he will implement proper methods of operation, i.e., policies, advertising, cost and cash flow control, money management, record keeping and adherence to budget levels, as designated by the Board of Directors. Notwithstanding the foregoing or any other provision of this Agreement, Employee shall not, without the specific direction of the President, do or contract for any of the following:
  
 a.         Borrow any amount or sum of money on behalf of the Employer without authorization from the Board of Directors.
  
 b.         Make expenditures or purchase capital equipment in excess of the amount budgeted by the Board of Directors.
  
 c.         Sell any single capital asset of the Employer having a market value in excess of FIVE Thousand Dollars ($5000) or a total of capital assets during a fiscal year having a market value in excess of Ten Thousand Dollars ($10,000).
  
 d.         Hire any employee for a term in excess of one (1) year, or offer any written employment contracts except as approved by the Board of Directors. The duties of the Employee may be changed from time to time by mutual consent of the Employer and the Employee without resulting in recision of this Agreement.
  
 e.         File any legal claim on behalf of the Corporation without approval of the Board of Directors.
  
 3.         COMPENSATION OF EMPLOYEE:  As compensation for services rendered under this Agreement, the Employee shall be entitled to receive from the Employer a salary of One Hundred Ninety-Six Thousand Dollars ($196,000) per year payable in equal semimonthly installments of Eight Thousand One Hundred Sixty-Six Dollars and Sixty-Six Cents ($8,166.66). An incentive bonus shall be paid at the direction and convenience of the Board of Directors based on year end fiscal performance each year. The Executive Committee shall meet at least thirty (30) days prior to that time with the Employee to determine how well he has met his goals for each contract fiscal year. 
  
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 4.         MEDICAL/DISABILITY INSURANCE:  The Employer agrees to include the Employee and Employee’s spouse, in the hospital, surgical, medical and any other plan which has been adopted by the Employer, or may hereinafter be modified or adopted by the Board of Directors. If the Employee and Employee’s spouse are receiving Medicare, then the Medicare premiums and supplemental premiums will be paid for by the Corporation. Employer contributions to any other plan, adopted by the Board of Directors, may be established from time to time.
  
 5.         BUSINESS EXPENSES:  Employer shall reimburse Employee for approved business expenses incurred by the Employee for promoting the business of the Employer, including expenditures for entertainment and travel for which he is to be reimbursed by the Employer with a limit of $500 per month. The Employee agrees that he will furnish to the Employer adequate records and other documentary evidence including those required by all federal and state statutes and regulations issued by the appropriate taxing authorities. All such expenses must be approved by the President or V. P. - Finance/Chief Financial Officer of the Corporation. 
  
 6.         TERM LIFE-INSURANCE:  A $500,000 ten-year life insurance policy will be provided to the Employee, with the premiums being paid by the employer during employment and for one year after retirement.
  
 7.         EDUCATION EXPENSES:  The Employer agrees to cover the costs for the General Manager to continue his education to benefit the Corporation.
  
 8.         VACATION TIME:  The Employee shall be entitled during each year of his employment, pursuant to this Agreement, to an annual vacation leave of SIX (6) weeks at full salary. No more than THREE (3) weeks may be taken consecutively and no more than TWO (2) week may be taken during summer prime time. 
  
 9.         TERMINATION:  Employment pursuant to this Agreement shall terminate immediately on the occurrence of any of the following events:
  
 a.         The occurrence of circumstances that makes it impossible or makes it impractical for the business of the Employer to be continued.
  
 b.         The breach of duty by the Employee in the course of his employment, unless waived by the Employer.
  
 c.         The neglect by the Employee in the course of his employment
 duties, unless waived by the Employer.
  
 d.         The incapacity of the Employee to perform his duties, unless waived by the Employer.
  
 e.         The death of the Employee.
  
 Unless terminated for one or more of the above causes, Employee shall be entitled to the full compensation as agreed under terms of this Agreement of twelve (12) months.  Otherwise, the Employee shall be entitled to the compensation earned prior to the date of actual termination computed pro rata up to and including the termination date.
  
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 10.       NOTICES:  Any notices to be given hereunder by either party to the other may be effected in writing and delivered by certified mail or delivered in person.
  
 11.       CONTAINMENT OF ENTIRE AGREEMENT HEREIN:  This Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto and any modification of this Agreement will be effective only if it is in writing, signed and dated by the party to be charged.
  
 12.       PARTIAL INVALIDITY:  If any provision of the Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall continue in full force without being impaired or invalidated in any way.
  
 13.       INDEMNIFICATION:  PISMO COAST VILLAGE, INC., agrees to cause Employee to be included as an assured on its liability insurance coverage in force and from time to time Employee shall survey such policies and make recommended changes herein.
  
 EXECUTED at Pismo Beach, California on the day and year first above written.
  
 	 Employee:
	 	 Employer

	 	 	 	 PISMO COAST VILLAGE, INC.

	 	 	 	 a California Corporation

	 	 	 	 	
	 /s/   
	 JAY N. JAMISON
	 	 By: /s/
	 TERRIS HUGHES

	 	 Jay N. Jamison
	 	 	 Terris Hughes, President

  
 3EXHIBIT
10-A

 

September 14, 1989

as amended June 11, 1998;

June 14, 2001;

June 10, 2004;

June 7, 2007;

July 8, 2010;

September 12, 2013; and

September 13, 2018

 

COLGATE-PALMOLIVE
COMPANY

EXECUTIVE SEVERANCE PLAN, AS AMENDED AND RESTATED

 

		1.	PURPOSE.

 

The purpose of the Colgate-Palmolive Company Executive Severance
Plan (the “Plan”) is to provide executives who are in a position to contribute materially to the success of
Colgate-Palmolive Company (the “Parent Company”) or any company at least 50% of whose voting shares are owned
directly or indirectly by it (collectively, the “Company”) with reasonable compensation in the event of their
termination of employment with the Company under the circumstances described herein.

 

		2.	EFFECTIVE DATE.

 

The Plan, as amended and restated, is effective as of September
13, 2018.

 

		3.	ADMINISTRATION.

 

The Plan shall be administered by a Committee. Committee shall
mean (a) prior to a Change of Control, the Personnel and Organization Committee of the Board of Directors of the Parent Company
(the “Board”) as then constituted and (b) following a Change of Control, the Committee described in (a) above,
as constituted immediately before the Change of Control, with such changes in the membership thereof as may be approved from time
to time following the Change of Control by a majority of the members of such Committee as constituted prior to the Change of Control.
Notwithstanding any other provision of this Plan, neither the Board nor the Company shall have any right to appoint members to
or to remove members from the Committee following, or otherwise in connection with, a Change of Control. Any interpretation of
the Plan or construction of any of its provisions by the Committee shall be final. All reasonable expenses of the Committee shall
be paid or reimbursed by the Company. The Company shall indemnify members of the Committee against personal liability for actions
taken in good faith in the discharge of their respective duties as members of the Committee and shall provide coverage to them
under the Company’s liability insurance programs for directors and officers. Following a Change of Control, members of the
Committee who are no longer members of the Applicable Board shall be entitled to compensation in respect of their service on the
Committee at the rate determined by the Board as of immediately prior to the Change of Control.

    	 

    	

    

		4.	PARTICIPATION.

 

The Committee shall from time to time select the employees
who are to participate in the Plan (the “Participants”) from among those employees who are determined by the
Committee to be in a position to contribute materially to the success of the Company. The Company shall advise each Participant
of his or her participation in the Plan by a letter setting forth (a) the benefits to which the Participant would become entitled,
(b) the period, expressed in months, during or for which the Participant would become entitled to such benefits, which period
shall not be less than 12 months nor more than 24 months (the “Earned Benefit Period”) and (c) such other terms,
provisions and conditions not inconsistent with the Plan as shall be determined by the Committee.

 

A Participant shall cease to be a Participant in the Plan upon
termination of employment with the Company or, if earlier, upon termination of the Plan. Notwithstanding the foregoing, a Participant
who terminates employment prior to termination of the Plan shall remain a Participant until receipt of all of the payments, if
any, to which he or she is entitled under the terms hereof.

 

		5.	PAYMENTS UPON QUALIFIED TERMINATION OF EMPLOYMENT.

 

In the event of a Participant’s Qualified Termination
of Employment, the Participant shall be entitled, as compensation for services rendered (subject to paragraph (d) of this Section
5 and Section 9 and to withholding of any applicable payroll or other taxes), to:

 

		(a)	receive an undiscounted cash lump sum within 30 days of the Participant’s
                                         Qualified Termination of Employment in an amount equal to the product of (i) the sum
                                         of (A) the Participant’s annualized Monthly Base Salary at the rate in effect immediately
                                         prior to a Qualified Termination of Employment or immediately prior to an Adverse Change
                                         in Conditions of Employment, as the case may be, or, if higher, at the highest rate in
                                         effect during the 90-day period preceding the Change of Control plus any salary-related
                                         allocations that may be made to the Participant’s account under the Company’s
                                         Employees Savings and Investment Plan for the year in which the Qualified Termination
                                         of Employment occurs (for purposes of this Plan, “Monthly Base Salary”
                                         shall mean regular monthly salary as indicated by the Company’s payroll records
                                         including allocations pursuant to the Income Savings Account (“ISA”)
                                         program within the Company’s Employees Savings and Investment Plan (excluding any
                                         applicable gross-up)) and (B) the average of the annual aggregate bonus awards paid or
                                         payable to the Participant (including awards or allocations pursuant to the Company’s
                                         Executive Incentive Compensation Plan, the Bonus Savings Account (“BSA”)
                                         program within the Company’s Employees Savings and Investment Plan (excluding any
                                         applicable gross-up) or other bonus, incentive or compensation plan of the Company or
                                         otherwise) for the three-year period ending immediately prior to the year in which the
                                         Change of Control occurs (or for such lesser number of full years prior to the Change
                                         of Control for which the Participant was eligible to earn such a bonus, and annualized
                                         in the case of any pro rata bonus earned for a partial year), and (ii) a fraction, the
                                         numerator of which is the number of months in his or her Earned

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Benefit Period and the denominator of which is twelve
(the “Applicable Ratio”), provided, however, that such resulting amount shall be
reduced if and to the extent required by the terms of Section 9 hereof; provided further, that in determining Monthly
Base Salary and aggregate annual bonus hereunder, amounts otherwise payable or awarded with respect to the relevant period that
a Participant has elected to defer pursuant to any applicable deferred compensation plan or arrangement shall be taken into account,
and amounts paid out during such period pursuant to a prior deferral election shall not be taken into account;

 

		(b)	remain for his or her Earned Benefit Period an active participant
                                         in the Company’s life insurance and medical benefits (including, without limitation,
                                         dental and vision), in which, and on the same basis as, he or she was participating at
                                         the time of the Change of Control (or, if more favorable to the Participant, as in effect
                                         at any time thereafter with respect to other key executives), but subject to any coordination
                                         of benefits provisions contained in such plans, or alternatively, be provided with substantially
                                         similar benefits for such period; provided, in any case, that the Participant
                                         shall be required to make contributions to the cost of such plans or benefits and pay
                                         co-payments to the same extent and on the same basis as required before the Participant’s
                                         Qualified Termination of Employment or, if more favorable to the Participant, as active
                                         employees who continue to participate in such plans or benefits during the Earned Benefit
                                         Period, and provided further that the Company’s cost of providing
                                         any medical, dental or vision coverage provided pursuant to this clause, less any Participant
                                         contributions, shall be treated as taxable to the Participant and the Company shall report
                                         such cost to the appropriate tax authorities as taxable income to the Participant; provided,
                                         however, that if the Participant becomes reemployed with another employer
                                         and is eligible to receive welfare benefits that correspond to the benefits described
                                         herein under another employer provided plan, the corresponding welfare benefits described
                                         herein shall be secondary to those provided under such other plan during such applicable
                                         period of eligibility. (The extension of medical and/or dental coverage pursuant to the
                                         foregoing shall be in compliance with the Consolidated Omnibus Budget Reconciliation
                                         Act of 1985 (“COBRA”) and will be coordinated with the Participant’s
                                         rights thereunder, with the period of optional COBRA coverage being up to 18 months,
                                         offset by the period of extended coverage outlined above.)

 

		(c)	receive a single cash lump sum within 30 days of the Participant’s
                                         Qualified Termination of Employment:

 

		(i)	equal to the excess of (A) over (B) as described below:

 

		(A)	The present value, as of the Qualified Termination of Employment,
                                         of benefits under the Employees’ Retirement Income Plan, the Expatriate Pension
                                         Plan, the Supplemental Salaried Employees’ Retirement Plan, any plan maintained
                                         by the Company providing qualified plan or supplemental plan pension benefits comparable
                                         to the benefits provided in the aforementioned plans (“Comparable DB

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Plan”), or any successor plans thereto, or
of “benefits from other sources to which the Company contributes,” as defined below, to which the Participant would
have been entitled commencing on the earliest date on which such benefits could have commenced if he or she had remained in the
employ of the Company during the Earned Benefit Period or until age 65, whichever occurs first, based on his or her Recognized
Earnings (as defined in the Employees’ Retirement Income Plan) as determined most recently prior to the Qualified Termination
of Employment and assuming for this purpose that all accrued benefits are fully vested and that benefit accrual formulas are no
less advantageous to the Participant than those in effect during the 90-day period preceding the Change of Control;

 

		(B)	The present value, as of the Qualified Termination of Employment,
                                         of benefits to which the Participant would actually be entitled under the Employees’
                                         Retirement Income Plan, the Expatriate Pension Plan, the Supplemental Salaried Employees’
                                         Retirement Plan, a Comparable DB Plan, or the benefits from other sources referenced
                                         in (A) above, commencing on the earliest date on which such benefits could actually commence.

 

For purposes of (A) and (B) above, “benefits
from other sources to which the Company contributes” shall include retirement benefits payable under plans maintained directly
and indirectly by the Company outside the U.S. and non-U.S. governmental benefits (whether considered retirement benefits, severance
benefits, termination allowances or indemnities) to the extent paid by or contributed to by the Company. The present-value amounts
in (A) and (B) above will be calculated based on the same methods and assumptions used when calculating lump sum amounts under
the Employees’ Retirement Income Plan, the Expatriate Pension Plan, the Supplemental Salaried Employees’ Retirement
Income Plan or the Comparable DB Plans, as applicable, inclusive of any subsidized forms of annuities under the Employees’
Retirement Income Plan and the Supplemental Salaried Employees’ Retirement Plan or the Comparable DB Plans, as applicable.

 

and

 

		(ii)	equal to the product of (A) the Applicable Ratio and (B) the
                                         Company’s contributions on behalf of the Participant under the Company’s
                                         Employees Savings and Investment Plan, the Company’s Supplemental Savings and Investment
                                         Plan and any plan maintained by the Company providing qualified plan or supplemental
                                         plan benefits comparable to the benefits provided in the aforementioned plans during
                                         the one-year period ending immediately prior to the date on which the Change of Control
                                         occurs (annualized in the case of any Participant who was employed for less than

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the entire one-year period) and excluding any contributions
pursuant to the BSA or the ISA.

 

		(d)	Anything to the contrary in this Section 5 notwithstanding:

 

		(i)	The payments and benefits otherwise required to be provided to
                                         the Participant upon a Qualified Termination of Employment pursuant to this Section 5
                                         shall be reduced (but not below zero) as appropriate by all payments and benefits to
                                         which the Participant is entitled as a result of the Qualified Termination of Employment
                                         in the nature of severance or separation pay or benefits, pay and/or benefits in lieu
                                         of notice, pay and/or benefits for service during any notice period, or any similar type
                                         of payment or benefit, under any plan, program or policy of the Company (a “Plan”),
                                         under any contract or agreement between the Participant or a union, works council or
                                         other collective bargaining entity or employee representative and the Company (a “Contract”),
                                         or under applicable law or regulation (“Law”), unless such Plan, Contract
                                         or Law specifically provides otherwise; and

 

		(ii)	If the Participant has been determined by the Company pursuant
                                         to the Company’s procedures to be a “specified employee” within the
                                         meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended
                                         from time to time (the “Code”), the payments and benefits otherwise
                                         required to be provided to the Participant upon a Qualified Termination of Employment
                                         (A) in Sections 5(a) and 5(c) above shall be deferred for six months following the Participant’s
                                         separation from service (or, if earlier, the date of the Participant’s death) and
                                         (B) welfare benefits other than medical and dental benefits in Section 5(b) above shall
                                         end on the earlier of the end of the Earned Benefit Period or the date that is two years
                                         after the end of the year in which the Qualified Termination of Employment occurs. Notwithstanding
                                         anything to the contrary in the Plan, all reimbursements and in-kind benefits provided
                                         under the Plan that are subject to Section 409A of the Code shall be made in accordance
                                         with the requirements of Section 409A of the Code, including, where applicable, the requirement
                                         that (1) any reimbursement is for expenses incurred during the Participant’s lifetime
                                         (or during a shorter period of time specified in the Plan); (2) the amount of expenses
                                         eligible for reimbursement, or in-kind benefits provided, during a calendar year may
                                         not affect the expenses eligible for reimbursement, or in-kind benefits to be provided,
                                         in any other calendar year; (3) the reimbursement of an eligible expense will be made
                                         no later than the last day of the calendar year following the year in which the expense
                                         is incurred; and (4) the right to reimbursement or in-kind benefits is not subject to
                                         liquidation or exchange for another benefit. Any references to termination of employment
                                         or date of termination shall mean and refer to the date of the Participant’s “separation
                                         from service,” as that term is defined in Section 409A of the Code and Treasury
                                         regulation Section 1.409A-1(h).

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		6.	PAYMENTS UPON CHANGE OF CONTROL.

 

In the event of a Change of Control (and whether or not the
Participant’s employment terminates), each Participant shall be entitled, as compensation for services rendered before the
Change of Control, regardless of whether the Participant remains employed after the Change of Control (subject to any applicable
payroll or other taxes required to be withheld), to:

 

		(a)	receive within 30 days following the Change of Control, a cash
                                         lump sum representing a pro-rated annual bonus for the year in which the Change of Control
                                         occurs, in an amount equal to the product of (i) the aggregate annual bonus determined
                                         pursuant to Section 5(a)(i)(B), and (ii) a fraction, the numerator of which is the number
                                         of months (or part thereof) in the period beginning January 1 of the year in which the
                                         Change of Control occurs and ending on the date of the Change of Control and the denominator
                                         of which is twelve; provided, however, that to the extent
                                         the Participant becomes entitled to another annual bonus based upon performance and/or
                                         service for the same period (or a longer period including such period), the amount thereof
                                         may be offset by the amount paid pursuant to this Section 6(a); and

 

		(b)	receive within 30 days following the Change of Control, (i) all
                                         compensation amounts that were earned and vested before January 1, 2005 that the Participant
                                         previously has elected to defer and (ii) if the Change of Control satisfies the requirements
                                         of Section 409A(a)(2)(A)(v) of the Code, all compensation amounts that were earned and
                                         vested after December 31, 2004 that the Participant previously has elected to defer.

 

		7.	IMPACT OF CHANGE OF CONTROL ON EQUITY AWARDS.

 

The impact of a Change of Control upon equity awards then held
by a Participant shall be governed by the terms and conditions of the applicable plan(s) pursuant to which such awards were granted,
any applicable guidelines adopted pursuant to such plans and the terms and conditions of the individual awards.

 

		8.	CERTAIN DEFINITIONS.

 

		(a)	An “Adverse Change in Conditions of Employment”
                                         shall mean the occurrence of any of the following events:

 

		(i)	the assignment to the Participant of any duties inconsistent
                                         in any respect with the Participant’s position (including offices, titles and reporting
                                         requirements), authority, duties or responsibilities from those in effect immediately
                                         before the Change of Control, or any other diminution in such position, authority, duties
                                         or responsibilities (whether or not occurring solely as a result of the Parent Company’s
                                         ceasing to be a publicly-traded entity), excluding for this purpose an isolated, insubstantial
                                         and inadvertent action not taken in bad faith and that is remedied by the Company promptly
                                         after receipt of notice thereof given by the Participant;

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		(ii)	a reduction by the Company of the Participant’s Monthly
                                         Base Salary as in effect immediately preceding the Change of Control or as the same may
                                         thereafter be increased from time to time;

 

		(iii)	failure by the Company to provide the Participant with incentive
                                         compensation opportunities that are, in the aggregate, at least as favorable (in terms
                                         of the value of the opportunities and the difficulty of achieving any associated goals)
                                         as those provided to the Participant immediately before the Change of Control, or to
                                         provide the Participant with employee benefits that are, in the aggregate, at least as
                                         favorable as those provided to the Participant immediately before the Change of Control;

 

		(iv)	the Company’s requiring the Participant (a) to be based
                                         at an office located more than fifty (50) miles and at least twenty (20) additional miles
                                         from the place at which the Participant’s principal residence was located immediately
                                         prior to the Change of Control, (b) to be based at a location other than the principal
                                         executive offices of the Company, if the Participant was based at the principal executive
                                         offices immediately preceding the Change of Control, or (c) to travel on Company business
                                         to a substantially greater extent than required immediately before the Change of Control.

 

A Participant’s failure to object to a change
described in (i), (ii), (iii) or (iv) shall not constitute a waiver of such change as an Adverse Change in Conditions of Employment.
Any good faith determination by a Participant of an Adverse Change in Conditions of Employment shall be determinative.

 

		(b)	“Affiliated Company” shall mean any company
                                         controlled by, controlling or under common control with the Parent Company.

 

		(c)	“Applicable Board” shall mean the Board, or
                                         if the Parent Company is not the ultimate parent corporation of the Affiliated Companies
                                         and is not publicly-traded, the board of directors of the ultimate parent of the Parent
                                         Company.

 

		(d)	“Cause” shall mean:

 

		(i)	“cause” as defined in any employment, consulting
                                         or similar agreement between the Company or any of its affiliate and the Participant
                                         (an “Individual Agreement”) that is in effect at the time of such
                                         Participant’s termination of employment; or

 

		(ii)	if there is no such Individual Agreement or if such Individual
                                         Agreement does not define “cause,” (A) conviction of, or plea of guilty or
                                         no contest by, the Participant for committing a felony in the United States (a “U.S.
                                         Felony”) or for committing a crime comparable to a U.S. Felony outside the United
                                         States, which, in each case, regardless of where such crime occurs, has had or will have
                                         a detrimental effect on the Company’s

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reputation, business or financial condition, (B)
the Participant’s willful engagement in any malfeasance, dishonesty, fraud or gross misconduct that is intended to or does
result in a material detrimental effect on the Company’s reputation, business or financial condition or (C) a willful and
deliberate failure on the part of the Participant to perform his or her employment duties in any material respect.

 

For purposes of this Section 8(d), no act, or failure
to act, on the part of the Participant shall be considered “willful” unless it is done, or omitted to be done, by
the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in the best interests
of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Applicable
Board or upon the instructions of the Chief Executive Officer of the Company or a senior officer of the Company or based upon
the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Participant in
good faith and in the best interests of the Company. The cessation of employment of the Participant shall not be deemed to be
for Cause unless and until there shall have been delivered to the Participant a copy of a resolution duly adopted by the Applicable
Board (excluding the Participant, if the Participant is a member of the Applicable Board) at a meeting of the Applicable Board
called and held for such purpose (after reasonable notice is provided to the Participant and the Participant is given an opportunity,
together with counsel for the Participant, to be heard before the Applicable Board), finding that, in the good faith opinion of
the Applicable Board, the Participant is guilty of the conduct described in Section 8(d)(i) or 8(d)(ii), and specifying the particulars
thereof in detail.

 

		(e)	For the purposes of the Plan, a “Change of Control”
                                         shall mean any of the following events:

 

		(i)	An acquisition by any individual, entity or group (within the
                                         meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934) (a “Person”)
                                         of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Securities
                                         Exchange Act of 1934) of 30% or more of either (A) the then-outstanding shares of common
                                         stock of the Parent Company (the “Outstanding Parent Company Common Stock”)
                                         or (B) the combined voting power of the then-outstanding voting securities of the Parent
                                         Company entitled to vote generally in the election of directors (the “Outstanding
                                         Parent Company Voting Securities”); excluding, however, the following: (1)
                                         any acquisition directly from the Parent Company, other than an acquisition by virtue
                                         of the exercise of a conversion privilege unless the security being so converted itself
                                         was acquired directly from the Parent Company, (2) any repurchase by the Parent Company,
                                         (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
                                         by the Parent Company or any entity controlled by the Parent Company, or (4) any acquisition
                                         pursuant to a transaction that complies with clauses (A), (B) and (C) of subsection (iii)
                                         of this Section 8(e); or

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		(ii)	A change in the composition of the Board such that the individuals
                                         who, as of the Effective Date of the Plan, constitute the Board (such Board shall be
                                         hereinafter referred to as the “Incumbent Board”) cease for any reason
                                         to constitute at least a majority of the Board; provided, however,
                                         that, for purposes of this Section 8(e) any individual who becomes a member of the Board
                                         subsequent to the Effective Date of the Plan, whose election, or nomination for election
                                         by the Parent Company’s stockholders, was approved by a vote of at least a majority
                                         of those individuals who are members of the Board and who were also members of the Incumbent
                                         Board (or deemed to be such pursuant to this proviso) shall be considered as though such
                                         individual were a member of the Incumbent Board; provided further, that
                                         any such individual whose initial assumption of office occurs as a result of either an
                                         actual or threatened election contest with respect to the election or removal of directors
                                         or other actual or threatened solicitation of proxies or consents by or on behalf of
                                         a Person other than the Board shall not be so considered as a member of the Incumbent
                                         Board; or

 

		(iii)	The consummation of a reorganization, merger or consolidation
                                         or sale or other disposition of all or substantially all of the assets of the Parent
                                         Company (“Business Combination”); excluding, however, such a Business
                                         Combination pursuant to which (A) all or substantially all of the individuals and entities
                                         who are the beneficial owners, respectively, of the Outstanding Parent Company Common
                                         Stock and Outstanding Parent Company Voting Securities immediately prior to such Business
                                         Combination will beneficially own, directly or indirectly, more than 50% of, respectively,
                                         the outstanding shares of common stock, and the combined voting power of the then-outstanding
                                         voting securities entitled to vote generally in the election of directors, as the case
                                         may be, of the corporation resulting from such Business Combination (including, without
                                         limitation, a corporation that as a result of such transaction owns the Parent Company
                                         or all or substantially all of the Parent Company’s assets either directly or through
                                         one or more subsidiaries) in substantially the same proportions as their ownership, immediately
                                         prior to such Business Combination, of the Outstanding Parent Company Common Stock and
                                         Outstanding Parent Company Voting Securities, as the case may be, (B) no Person (other
                                         than the Parent Company, any employee benefit plan (or related trust) of the Parent Company
                                         or such corporation resulting from such Business Combination) will beneficially own,
                                         directly or indirectly, 30% or more of, respectively, the outstanding shares of common
                                         stock of the corporation resulting from such Business Combination or the combined voting
                                         power of the outstanding voting securities of such corporation entitled to vote generally
                                         in the election of directors except to the extent that such ownership derives from ownership
                                         of a 30% or more interest in the Outstanding Parent Company Common Stock and/or Outstanding
                                         Parent Company Voting Security that existed prior to the Business Combination, and (C)
                                         individuals who were members of the

    	-9-

    	

    

Incumbent Board will constitute at least a majority
of the members of the board of directors of the corporation resulting from such Business Combination; or

 

		(iv)	the approval by stockholders of a complete liquidation or dissolution
                                         of the Parent Company.

 

		(f)	Termination by the Company of a Participant’s employment
                                         based on “Disability” shall mean termination because of absence from
                                         duties with the Company on a full-time basis for six consecutive months, as a result
                                         of the Participant’s incapacity due to physical or mental illness which is determined
                                         to be total and permanent by a physician selected by the Company or its insurers and
                                         acceptable to the Participant or the Participant’s legal representative (such agreement
                                         as to acceptability not to be withheld unreasonably).

 

		(g)	A “Qualified Termination of Employment” with
                                         respect to any Participant shall mean termination of employment of the Participant with
                                         the Company, other than as a consequence of the death or Disability of the Participant,
                                         within two years after a Change of Control,

 

		(i)	by the Company for any reason other than for Cause, or

 

		(ii)	by the Participant by reason of an Adverse Change in Conditions
                                         of Employment.

 

		9.	CERTAIN REDUCTIONS IN PAYMENTS.

 

		(a)	Anything in this Plan to the contrary notwithstanding, in the
                                         event PricewaterhouseCoopers LLP or such other nationally-recognized accounting firm
                                         as the Committee may select (the “Accounting Firm”) shall determine
                                         that receipt of all Payments would subject a Participant to the excise tax under Section
                                         4999 of the Code, the Accounting Firm shall determine whether to reduce any of the Payments
                                         paid or payable pursuant to this Plan (the “Plan Payments”) so that
                                         the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount.
                                         The Plan Payments shall be so reduced only if the Accounting Firm determines that the
                                         Participant would have a greater Net After-Tax Receipt of aggregate Payments if the Plan
                                         Payments were so reduced. If the Accounting Firm determines that the Participant would
                                         not have a greater Net After-Tax Receipt of aggregate Payments if the Plan Payments were
                                         so reduced, the Participant shall receive all Plan Payments to which the Participant
                                         is entitled hereunder.

 

		(b)	If the Accounting Firm determines that aggregate Plan Payments
                                         should be reduced so that the Parachute Value of all Payments, in the aggregate, equals
                                         the Safe Harbor Amount, the Company shall promptly give the Participant notice to that
                                         effect and a copy of the detailed calculation thereof. All determinations made

    	-10-

    	

    

by the Accounting Firm under this Section 9 shall
be binding upon the Company and the Participant and shall be made as soon as reasonably practicable and in no event later than
15 business days following the date of the Participant’s Qualified Termination of Employment. For purposes of reducing the
Plan Payments so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount, only amounts payable
under the Plan (and no other Payments) shall be reduced. The reduction of the amounts payable hereunder, if applicable, shall
be made by reducing the Plan Payments that are parachute payments in the following order: (i) Section 5(a); (ii) Section 5(c)(i);
(iii) Section 5(c)(ii); and (iv) Section 5(b). All reasonable fees and expenses of the Accounting Firm shall be borne solely by
the Company.

 

		(c)	Definitions. The following terms shall have the following
                                         meanings for purposes of this Section 9:

 

		(i)	“Net After-Tax Receipt” means the present
                                         value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of
                                         the Code) of a Payment net of all taxes imposed on the Participant with respect thereto
                                         under Sections 1 and 4999 of the Code and under applicable state and local laws, determined
                                         by applying the highest marginal rate under Section 1 of the Code and under state and
                                         local laws that applied to the Participant’s taxable income for the immediately
                                         preceding taxable year, or such other rate(s) as the Accounting Firm determines to be
                                         likely to apply to the Participant in the relevant tax year(s).

 

		(ii)	“Parachute Value” of a Payment means
                                         the present value as of the date of the Change of Control for purposes
                                         of Section 280G of the Code of the portion of such Payment that constitutes a “parachute
                                         payment” under Section 280G(b)(2) of the Code, as determined by the Accounting
                                         Firm for purposes of determining whether and to what extent the excise tax under Section
                                         4999 of the Code will apply to such Payment.

 

		(iii)	“Payment” means any payment or distribution
                                         in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code)
                                         to or for the benefit of the Participant, whether paid or payable pursuant to this Plan
                                         or otherwise.

 

		(iv)	“Safe Harbor Amount” means 2.99 times the Participant’s
                                         “base amount,” within the meaning of Section 280G(b)(3) of the Code.

 

		10.	CONFIDENTIAL INFORMATION.

 

The Participant shall hold, in a fiduciary capacity for the
benefit of the Company, all secret or confidential information, knowledge or data relating to the Company and its businesses which
shall have been obtained by the Participant during his or her employment by the Company and which shall not be public knowledge
(other than by acts of the Participant in violation of this

    	-11-

    	

    

provision). After termination of the Participant’s employment
with the Company, the Participant shall not, without the prior written consent of the Company, communicate or divulge any such
information, knowledge or data to anyone other than the Company and those persons designated by it. In no event shall an asserted
violation of this Section constitute a basis for deferring or withholding any amounts otherwise payable to the Participant under
the Plan.

 

		11.	FINANCING.

 

Benefit payments under the Plan shall constitute general obligations
of the Company in accordance with the terms of the Plan. A Participant shall have only an unsecured right to payment thereof out
of the general assets of the Company. Notwithstanding the foregoing, the Company may, by agreement with one or more trustees to
be selected by the Company, create a trust on such terms as the Company shall determine to make payments to Participants in accordance
with the terms of the Plan, including without limitation payments of deferred amounts not accelerated pursuant to Section 6(b)(ii).

 

		12.	TERMINATION AND AMENDMENT OF THE PLAN.

 

The Plan shall terminate on the later of (i) December 31, 2023,
unless extended by the Board or (ii) in the event of a Change of Control on or before the termination date of the Plan, two years
after such Change of Control, provided that the termination of the Plan shall not impair or abridge the obligations of the Company
incurred under the Plan to any Participant as a result of a Qualified Termination of Employment that occurs before the date the
Plan is terminated.

 

Except as provided in the next sentence, the Board may from
time to time terminate the Plan or amend the Plan in whole or in part. The Plan may not be terminated or amended in any manner
which would adversely affect the rights or potential rights of Participants, if the action to effect such termination or amendment
occurs (i) after a Change of Control, or (ii) in connection with a Change of Control, unless and to the extent that the Committee
determines that such termination or amendment is required by law.

 

		13.	BENEFIT OF PLAN.

 

The Plan shall be binding upon and shall inure to the benefit
of the Participants and their respective heirs and legal representatives, and the Company and its successors. The term “successor”
shall mean any person, firm, corporation or other business entity that, at any time, whether by merger, acquisition or otherwise,
acquires all or substantially all of the stock, assets or business of the Company.

 

		14.	NON-ASSIGNABILITY.

 

Each Participant’s rights under this Plan shall be non-transferable
except by will or by the laws of descent and distribution and except insofar as applicable law may otherwise require. Subject
to the foregoing, no right, benefit or interest hereunder, shall be subject to anticipation, alienation, sale, assignment, encumbrance,
charge, pledge, hypothecation, or set-off in respect of any claim, debt or obligation, or to execution, attachment, levy or similar
process, or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall, to the
full extent permitted by law, be null, void and of no effect.

    	-12-

    	

    

		15.	OTHER BENEFITS.

 

Except as otherwise specifically provided herein, nothing in
the Plan shall affect the level of benefits provided to or received by any Participant (or the Participant’s estate or beneficiaries)
as part of any employee benefit plan of the Company, and the Plan shall not be construed to affect in any way a Participant’s
rights and obligations under any other Plan maintained by the Company on behalf of employees.

 

The Participant shall not be required to mitigate the amount
of any payment under the Plan by seeking employment or otherwise, and there shall be no right of set-off or counterclaim, in respect
of any claim, debt or obligation, against any payments to the Participant, his or her dependents, beneficiaries or estate provided
for in the Plan.

 

		16.	TERMINATION OF EMPLOYMENT.

 

Nothing in the Plan shall be deemed to entitle a Participant
to continued employment with the Company, and the rights of the Company to terminate the employment of a Participant shall continue
as fully as though the Plan were not in effect.

 

		17.	SEVERABILITY.

 

In the event that any provision or portion of the Plan shall
be determined to be invalid or unenforceable for any reason, the remaining provisions and portions of the Plan shall be unaffected
thereby and shall remain in full force and effect to the fullest extent permitted by law.

 

		18.	INDEMNIFICATION.

 

If the Participant seeks, in any action, suit or arbitration,
to enforce, or to recover damages for breach of, his or her rights under the Plan, the Participant shall be entitled to recover
from the Company promptly as incurred, and shall be indemnified by the Company against, any and all expenses and disbursements,
including attorneys’ fees, actually and reasonably incurred by the Participant. The Company shall also pay to the Participant
prejudgment interest on any money judgment obtained by the Participant calculated at the Citibank N.A. base rate of interest in
effect from time to time from the date that payment to him or her should have been made under the Plan.

 

		19.	GOVERNING LAW.

 

This Plan is intended to be an unfunded plan maintained by
the Company primarily for the purpose of providing deferred compensation to a select group of highly compensated or management
employees for purposes of Sections 201, 301 and 401 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
This Plan shall be interpreted and administered consistent with such intent. To the extent not preempted by ERISA, all questions
pertaining to the construction, regulation, validity and effect of the provisions of the Plan shall be determined in accordance
with the laws of the State of Delaware without regard to the conflict of law principles thereof.

    	-13-

    	

    

		20.	WHISTLEBLOWER RIGHTS.

 

Under the federal Defend Trade Secrets Act of 2016, Participants
shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret
that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an
attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; (b) is made to the Participant’s
attorney in relation to a lawsuit for retaliation against such Participant for reporting a suspected violation of law; or (c)
is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Nothing in
this Plan shall (A) prevent any Participant from testifying truthfully as required by law, (B) prohibit or prevent any Participant
from filing a charge with or participating, testifying, or assisting in any investigation, hearing, whistleblower proceeding,
or other proceeding before any federal, state, or local government agency (e.g., EEOC, NLRB, SEC, etc.), or (C) prevent any Participant
from disclosing confidential information in confidence to a federal, state, or local government official for the purpose of reporting
or investigating a suspected violation of law.

 

		21.	CLAIMS PROCEDURES.

 

		(a)	A Participant or his or her beneficiary (if applicable) may file
                                         a written claim with the Committee with respect to his or her rights to receive a benefit
                                         from the Plan. The Participant will be informed of the decision of the Committee with
                                         respect to the claim within 90 days after it is filed. Under special circumstances, the
                                         Committee may require an additional period of not more than 90 days to review a claim.
                                         If this occurs, the Participant will be notified in writing as to the length of the extension,
                                         the reason for the extension, and any other information needed in order to process the
                                         claim. If a Participant is not notified within the 90-day (or 180-day, if so extended)
                                         period, he or she may consider the claim to be denied.

 

		(b)	If a claim is denied, in whole or in part, the Participant will
                                         be notified in writing of the specific reason(s) for the denial, the exact Plan provision(s)
                                         on which the decision was based, what additional material or information is relevant
                                         to his or her case, and what procedure the Participant should follow to get the claim
                                         reviewed again. The Participant then has 60 days to appeal the decision to the Committee.

 

		(c)	The appeal must be submitted in writing to the Committee. A Participant
                                         may request to review pertinent documents, and may submit a written statement of issues
                                         and comments.

 

		(d)	A decision as to a Participant’s appeal will be made within
                                         60 days after the appeal is received. Under special circumstances, the Committee may
                                         require an additional period of not more than 60 days to review an appeal. If this occurs,
                                         the Participant will be notified in writing as to the length of the extension, not to
                                         exceed 120 days from the day on which the appeal was received.

    	-14-

    	

    

		(e)	If a Participant’s appeal is denied, in whole or in part,
                                         he or she will be notified in writing of the specific reason(s) for the denial and the
                                         exact Plan provision(s) on which the decision was based. If a Participant is not notified
                                         within the 60-day (or 120-day, if so extended) period, he or she may consider the appeal
                                         as denied. Notwithstanding anything contained herein to the contrary, no Participant
                                         may file a lawsuit until these procedures have been exhausted, it being understood that
                                         these claims procedures shall not prevent a Participant from filing a lawsuit after the
                                         claims procedures have been exhausted.

    	-15-

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