Document:

EX-4.14

 Exhibit 4.14 
  

 
  

			
	aegon.com	  	The Hague, March 2013

 

 
  

					
	 Previously submitted to DNB
	  	 	November 18, 2011	  
		
	 Revised and updated:
	  			
		
	 Approved by the Aegon N.V. Executive Board
	  	 	March 2013	  
		
	 Submitted to DNB
	  	 	n.a.	  

 

 
  

			
	DEFINITIONS	  	
		
	Agreement:	  	the agreement between the Participant and the Company concluded at the start of participation in the Plan Rules containing the terms and conditions relating to the Variable Compensation under the Plan Rules.
		
	Aegon or the Company:	  	Aegon N.V., a public limited liability company incorporated under Dutch law and having its statutory seat at Aegonplein 50, 2591 TV, The Hague, The Netherlands and, where applicable, any of its Subsidiaries.
		
	Aegon Group:	  	Aegon N.V. and its Subsidiaries.
		
	Allocation:	  	means the allocation of a Variable Compensation Grant following the Ex ante risk-based assessment pursuant to clause 4.5 and the assessment of actual realized performance on the Performance Indicators.
		
	Business Day(s):	  	any day on which the NYSE Euronext stock exchange in Amsterdam, the Netherlands (or its successor) is open for business.
		
	Change of Control:	  	a transaction or series of transactions or the conclusion of an agreement, that either alone or taken together may result in an outside party obtaining Control of the Company.
		
	Claw Back:	  	means the claw back right of the Company pursuant to clause 4.10.
		
	Committee:	  	the Compensation Committee of the Supervisory Board.
		
	Control:	  	means (i) the possession, directly or indirectly, of the majority of the outstanding shares in the capital of the Company, or (ii) the ability, directly or indirectly, to vote on the majority of the outstanding shares in the capital
of the Company or (iii) the ability, directly or indirectly, to appoint the majority of the members of the Executive Board and/or the Supervisory Board.
		
	Disability or Disabled:	  	a Participant who is totally and permanently disabled, as defined by any applicable disability law.
		
	Deferred Part:	  	means the part of the Variable Compensation which will be paid in equal parts during the three (3) subsequent years following the year after the Plan Year, if and to the extent the Performance Indicators have been achieved in
accordance with these Plan Rules.
		
	Ex-ante risk-based assessment:	  	means the assessment referred to in clause 4.5.

  
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	Ex-post Malus assessment:	  	means the assessment referred to in clause 4.6.
		
	Executive Board:	  	the Executive Board of the Company.
		
	Fixed Salary:	  	the annual amount of fixed compensation to be determined as part of the Total Compensation, including holiday allowance and 13th month, if any.
		
	Grant(s):	  	the conditional grant of Variable Compensation to a Participant in relation to the Plan Year, as set out in section 2 of the Plan Rules.
		
	Grant Date:	  	has the meaning attributed hereto in section 2.8.
		
	Grant Price:	  	means the average Share price on the NYSE Euronext stock exchange in Amsterdam, the Netherlands during the period 15 December preceding the Plan Year and 15 January of the Plan Year.
		
	Holding Period:	  	means the holding period as referred to in clause 5.4.
		
	Identified Staff:	  	Employees of Aegon Group who have been classified by the Company as Identified Staff.
		
	Participant:	  	a Participant who is a member of the Executive Board Aegon N.V and who has accepted the terms and conditions of the Variable Compensation Plan Rules by signing the Agreement.
		
	Pay-out or Paid-out:	  	means the pay-out of the cash part of the Variable Compensation in accordance with these Plan Rules.
		
	Pay-out Date:	  	means the date of a Pay-out in accordance with these Plan Rules.
		
	Performance Indicators:	  	the one-year performance indicators which will be used to calculate the Variable Compensation to be allocated to a Participant regarding the Plan Year in accordance with section 3 of these Plan Rules.
		
	Plan Year or Performance Year:	  	the financial year 2013 during which these Plan Rules are in place. In the event the Plan Rules are terminated prior to the end of the financial year, the expression ‘Plan Year’ shall refer to the period between January 1
and the date of termination.
		
	Release(d):	  	means the release of any Shares to the Participant following Vesting, or, in case a Holding Period applies at the end of such Holding Period, in accordance with these Plan Rules.
		
	Release Date:	  	the date of Release.

  
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	Remuneration Framework:	  	the Aegon Group Global Remuneration Framework 2013, as may be amended from time to time.
		
	Remuneration Policy:.	  	the Aegon N.V. Executive Board Remuneration Policy applicable to the members of the Executive Board as adopted by the Annual Meeting of Shareholders of the Company on 12 May 2011, and as may be amended from time to time.
		
	Retirement:	  	the (early) actual retirement of a Participant, either (i) under a pension plan of the Company or any of its Subsidiaries, as shall be in place from time to time or (ii) subsequent to a decision of the Company in accordance with the
Company’s articles of incorporation or an individual employment contract. If under local laws the starting date of (early) retirement is at the option of the Participant, a Participant will only be considered a Good Leaver if such Participant
actually starts drawing (early) retirement benefits.
		
	Sale:	  	a sale of all or substantially all the shares in the capital of the Company or all or substantially all of the assets of the Company and its Subsidiaries.
		
	Shares:	  	a common share in the capital of the Company, with a nominal value of EUR 0.12 (twelve eurocent), as may be granted as part of the Variable Compensation.
		
	Subsidiary:	  	a direct or indirect subsidiary of the Company determined as such by the Company for the purpose of these Plan Rules.
		
	Supervisory Board:	  	the Supervisory Board of the Company.
		
	Total Compensation:	  	the Total direct Compensation during a calendar year for a Participant which consists of a Fixed Salary and Variable Compensation.
		
	Upfront Part:	  	means the part of the Variable Compensation which will vest after the completion of the plan year, one year following Allocation in accordance with these Plan Rules.
		
	Variable Compensation:	  	the variable component of the Total Compensation, consisting of an Upfront Part and a Deferred Part, in accordance with these Plan Rules.
		
	Variable Compensation Plan Rules: or Plan Rules	  	the Variable Compensation Plan Rules that set out the terms and conditions of the Variable Compensation, as may be amended from time to time;
		
	Vest(ing):	  	the occasion upon which a Participant is transferred the unconditional legal ownership of conditionally allocated granted Cash and / or Shares, as set out in the Plan Rules; notwithstanding that Release of Shares only take place
after the lapsing of a Holding Period.

  
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	Vesting Date:	  	the date on which date the Cash and / or Shares will Vest in accordance with the Plan Rules.
		
	Vesting Schedule:	  	The schedule based on which the Deferred Part of the Variable Compensation will Vest and be Paid-out or Released to Participants.

 Words or expressions used in these Plan Rules shall, where appropriate, be interpreted as follows: 

	 	1.1.1.	Definitions and terms used in these Plan Rules can be found in the list of Definitions; these definitions as stated therein shall binding. 

 

	 	1.1.2.	All references to the masculine gender include the feminine and vice versa. 

  

	 	1.1.3.	All references to singular include the plural and vice versa if the context so requires. 

  

	 	1.1.4.	All headings and sub-headings are for ease of reference only, and shall not affect the interpretation of any clauses of these Plan Rules. 

 

	 	1.1.5.	All references to any enactment or terms under Dutch law shall be extended to other applicable laws or terms of any other country, or region of a country. 

 

	 	1.1.6.	All references to tax and/or social security contributions and/or withholding taxes include any tax, social security contribution or withholding tax that is levied or withheld in the Netherlands or any other applicable
jurisdiction. 

  
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	 	1	Introduction and purpose 

	 	1.1	These Variable Compensation Plan Rules (the Plan Rules) are intended to provide for Variable Compensation in the form of cash and / or Shares to eligible Executive Board members of Aegon N.V. to strengthen their
commitment to the Company’s business strategy, risk tolerance and long-term performance, as further set out in the Remuneration Framework or any other arrangements applicable to Participants. 

 

	 	1.2	These Plan Rules are subject to the terms and conditions of the Remuneration Framework and the Remuneration policy and/or other arrangements regarding variable compensation that may apply to the Participant.

  

	 	1.3	In the event of any discrepancies or inconsistencies between these Plan Rules and the Remuneration Framework, including the Remuneration Policy, the latter shall prevail. 

 

	 	1.4	In these Plan Rules, unless the context otherwise requires, the capitalized words and expressions shall have the meaning as set forth in the list of Definitions. 

 

	 	2	Conditional Grant Variable Compensation 

	 	2.1	The Company may conditionally grant a Participant a conditional entitlement to Variable Compensation. 

  

	 	2.2	A conditional entitlement to Variable Compensation will only be made to a Participant upon acceptance of these Plan Rules. The Participant will sign an Agreement offered by the Company to such effect. 

 

	 	2.3	A Participant who becomes an employee of the company during the Plan Year, and who has signed an Agreement during the first six months of the Plan Year, may be granted a conditional entitlement to Variable Compensation
which shall be on a pro rata basis to reflect the period of active service. Any deviations from this pro-rata principle and any Grants made upon employment at a later stage during the Plan Year will require prior approval of the Company.

  

	 	2.4	In accordance with clause 4.3 of these Plan Rules, 50% of the Variable Compensation may be paid in Shares. The number of Shares to which a Participant will be conditionally entitled shall be calculated by dividing the
relevant percentage (50%) of the Variable Compensation by the Grant Price and the outcome shall be rounded down to the nearest share. Any changes in the Fixed Salary during the Plan Year may have an impact on the Variable Compensation, to be
determined by the Company in its sole discretion. 

  

	 	2.5.	The Variable Compensation is conditionally granted and the conditional right to Variable Compensation is subject to the conditions precedent (i) that, unless stated otherwise or approved by the Company, the
Participant will remain employed within the Aegon Group uninterruptedly until the Vesting Date of each part of the Variable Compensation, (ii) that the minimum levels of the Performance Indicators are achieved, as further set out in clause 4.1
of these Plan Rules and (iii) an Ex-ante and an Ex-post Malus assessment as set out in clauses 4.5 and 4.6 of these Plan Rules have been carried out. 

  
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	 	2.6	The employment of the Participant is considered continued uninterruptedly in the case where the Participant’s employment is terminated due to long-term ill health, disability, (early) retirement, death or reduction
of work force or redundancy of the job or position of the Participant without cause by the Participant, during the period until a Vesting Date and, consequently, such Participant is considered to be a “Good Leaver”. In addition, the
Company may, at its full discretion, declare a Participant to be a Good Leaver. Long term ill health, disability and (early) retirement shall have the meaning as defined under the applicable rules and regulations within Aegon, or in the absence
thereof, as determined under the applicable local laws and regulations. In case of any unclarity on whether the Participant qualifies as a Good Leaver, the Company in its sole discretion will decide. 

 

	 	2.7	In the event of termination of employment of a Good Leaver during the Plan Year, in principle, the Variable Compensation that shall be paid-out (including the number of conditionally granted Shares that shall Vest)
shall be pro-rated to reflect the period of active service from the Grant Date until the termination of employment, subject to the final approval of the Company. The Variable Compensation that shall be paid out (including the number of conditionally
granted Shares that shall Vest) shall be determined and paid out in accordance with clause 4 of these Plan Rules after the adoption of the Annual Report at the Annual General Meeting of Shareholders, subject to any Holding Period. 

 

	 	2.8	The Grant Date will be 1 January 2013, irrespectively whether the amount and/or value of the conditional Variable Compensation and/or the Performance Indicators will be set later. 

 

	 	3	Performance Indicators 

	 	3.1	The Performance Indicators applicable to the Plan Year have been or shall be established by the Company in accordance with the guidelines of the Remuneration Framework, including the Remuneration Policy, and shall be
based on financial and non-financial targets. In the process of setting and evaluating Performance Indicators and targets used for the determination of Variable Compensation, relevant experts from control functions shall be consulted or involved.

  

	 	3.2	The Performance Indicators may consist of Group Indicators and Strategic / Functional / Personal Indicators which represent both financial and non-financial Indicators. Strategic / Functional / Personal Indicators shall
be selected for a Participant individually and shall be provided to the Participant in writing. 

  

	 	3.3	One-year minimum, target and maximum levels relating to the Performance Year will be set for each Performance Indicator. 

  

	 	4	Allocation, Vesting, Pay-out and Release of Variable Compensation 

	 	4.1	After the Performance Year, the Company shall assess the realized performance of each Performance Indicator and a comparison will be made between the minimum, target and maximum levels of the Performance Indicators and
the realized performance. Subsequently, the amount of Variable Compensation (including the number of Shares) that will be Allocated will be established. 

  
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	 	4.2	The following applies to Allocated Variable Compensation (if any), and subject to the Ex-ante risk-based assessment and the Ex-post Malus assessment referred to in clauses 4.5 and 4.6: 

 

	 	4.2.1	all Allocated Variable Compensation and subsequent Vesting according to the applicable Vesting Schedule, will be made in cash and in Shares. 

	 	4.2.2	part of the Allocated Variable Compensation in cash, if any (the Upfront Part in Cash) shall Vest and shall be paid out as soon as possible after the adoption of the Company’s Annual Report relating to the Plan
Year at the Annual General Meeting of Shareholders. 

	 	4.2.3	part of the Allocated Variable Compensation in Shares, if any (the Upfront Part in Shares) shall Vest as soon as possible after the adoption of the Company’s Annual Report relating to the Plan Year at the Annual
General Meeting of shareholders and shall be Released after a further Holding Period as set out in clause 5.4. 

	 	4.2.4	the remaining part of the Allocated Variable Compensation, if any (the Deferred Part) shall be deferred and shall Vest in the subsequent financial years according to the applicable Vesting Schedule. The cash part shall
be paid out as soon as possible after the adoption of the Company’s Annual Report relating to these subsequent financial year(s) at the respective Annual General Meetings of Shareholders and the Share part shall be Released after a further
Holding Period as set out in clause 5.4. 

  

	 	4.3	Any details as referred to in clause 4.2 regarding (i) the amount of Allocated Variable Compensation, including the allotment in cash and / or Shares, (ii) the Pay-out (vesting) of the Upfront Part,
(iii) the Vesting Schedule relating to the Deferred Part and related Pay-out and Release of such Deferred Variable Compensation and (iv) any Holding Period (if applicable), will be notified to the Participant in writing. 

 

	 	4.4	Except in the event a Participant is a Good Leaver, the Variable Compensation that is conditionally granted will become null and void on the date that the employment of the Participant is terminated prior to a Vesting
Date of the Upfront Part or a Deferred Part. 

  

	 	4.5	The Allocation of any part of the Variable Compensation is subject to an Ex-ante risk-based assessment by the Company in order to determine whether conditionally granted Variable Compensation should be Allocated in full
or should be Allocated applying a downwards adjustment. This Ex-ante risk-based assessment will be applied in order to: 

	 	(i)	ensure that the projected Variable Compensation is aligned with the risk profile of the Aegon Group; 

	 	(ii)	provide a perspective on the long-term financial and risk effects of the equity element of Variable Compensation; 

	 	(iii)	take into account quantitative and qualitative Aegon Group and individual factors mitigating performance results. 

  
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	 	4.6	The Vesting of any Deferred Part of the Variable Compensation is subject to an Ex-post Malus assessment by the Company in order to determine whether conditionally granted Variable Compensation should Vest in full or
should be adjusted. This Ex-post Malus assessment shall be based on informed judgment by the Company, taking into account significant and exceptional circumstances as well as risk outcomes that were not (sufficiently) reflected in the initially
applied Performance Indicators and initial assessment of the Company’s and individual performance at the time of Allocation. Implementation of this authority will be on the basis of criteria such as, but not limited to: 

	 	(i)	outcome of a re-assessment of the performance against the original financial Performance Indicators; 

	 	(ii)	significant downturn in the Company’s financial performance; 

	 	(iii)	evidence of misbehavior or serious error by the Participant; 

	 	(iv)	significant failure in risk management; 

	 	(v)	significant changes in the Company’s economic or regulatory capital base. 

  

	 	4.7	Depending on the outcome of the Ex-post Malus assessment, the Company shall decide to (i) establish that the relevant Deferred Part of the Variable Compensation shall become unconditional and shall Vest or
(ii) adjust the relevant Deferred Part of the Variable Compensation and decide that the Deferred Part shall only partially Vest (including the possible outcome that no Deferred Part of the Variable Compensation shall become unconditional and
Vest). 

  

	 	4.8	The Company shall review these Ex-ante risk-based and Ex-post Malus assessment criteria in detail at each Allocation and Vesting Date and document its findings. Relevant experts from control functions shall be consulted
or involved in this review process if required or desirable. 

  

	 	4.9	Any adjustment resulting from the Ex-post Malus risk-based assessment shall only be applied on the Deferred Part of the Variable Compensation, not on the Fixed Salary or the Upfront Part of the Variable Compensation.
The adjustment may only be made downwards. 

  

	 	4.10	The Company shall be authorized, in accordance with applicable laws and regulations, to reclaim (‘Claw Back’) any Variable Compensation (whether Vested, Paid-out or Released) to the Participant in case of:

	 	(i)	incorrect data (including non-achievement of Performance Indicators on hindsight); 

	 	(ii)	material financial restatements 1; 

	 	(iii)	individual gross misconduct of the Participant; 

	 	(iv)	an instruction or request by a regulator to the Company to apply the Claw Back or to apply other measures, which will be deemed to be serious grounds (zwaarwegend belang) for the Company to comply with such instruction
or request; or 

	 	(v)	other circumstances as determined in applicable legislation from time to time. 

1    Not resulting from mandatory restatements resulting from changes in IFRS and other applicable financial reporting regulations.

  
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	 	4.11	In the event of a Claw Back, the Company will determine the gross amount in cash that is subject to Claw Back. All or part of the Paid out, Vested or Released Variable Compensation that is subject to Claw Back will need
to be repaid by the Participant at first demand by the Company as a gross amount in cash, and the entitlement on all or part of the Variable Compensation that is Vested and not yet Paid-out or Released that is subject to Claw Back will lapse,
whereby any Shares will be taken into account for the Grant Price. The Company will be entitled to set-off or settle any gross amount owed by the Participant to the Company (i) by any current or future obligations if possible (including but not
limited to any salary payments or pension payments) that the Company has against the Participant and/or (ii) against any Allocated and/or Vested but not yet Paid-out or Released Variable Compensation, whereby any Shares will be taken into
account for the Grant Price. If and to the extent the Company does not exercise the set-off or settlement right, the Participant will repay the gross amounts due in cash as soon as possible upon instructions of the Company. 

 

	 	4.12	The Company shall inform the Participant as soon as possible of the outcome of the Ex-ante, Ex-post Malus and Claw Back assessment and its decision. The Participant shall have no claim for damages or compensation
against the Company or a Subsidiary for any consequences (whether financial, tax, governmental, personal or other consequences) following the Ex-ante, Ex-post Malus or Claw Back assessments resulting in the Variable Compensation being adjusted
downwards. 

  

	 	4.13	The Company may, in its sole discretion, direct the Supervisory Board of Aegon N.V. to determine whether any further action may be necessary with respect to the Ex-post Malus and Claw Back assessment for any local
circumstances. 

  

	 	4.14	No dividend or interest will accrue on any part of the Variable Compensation before Vesting in accordance with these Plan Rules. 

  

	 	4.15	Vested Shares, subject to a Holding Period as set out in clause 5.4, will accrue dividends as from the Vesting Date, which dividend will be equal to the amount of dividends declared on the Company’s Shares. Accrued
dividends will be paid out in Shares at the Release Date, unless the Company determines the dividends on the Shares granted under these Plan Rules to be paid out in cash or in cash and/or Shares at the option of the Participant. The Company may
determine the form of dividend to be paid on the Shares granted under these Plan Rules annually in its sole discretion and irrespectively of the form of dividend to be paid on Shares held by other shareholders. 

 

	 	4.16	In connection with any actual or potential Sale or Change of Control or a transaction concerning the sale of a Subsidiary or business unit within Aegon Group, the Company will take all such actions hereunder as it may
determine to be necessary or appropriate to treat Participants equal and equitably hereunder, at the discretion of the Supervisory Board, including without limitation the modification or waiver of applicable Performance Indicators, and whether to
establish or fund another arrangement intended for variable incentives. 

  
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	 	5	Terms and Conditions regarding the Shares 

	 	5.1	Transfer of ownership of the Shares to the Participant shall take place on the relevant Vesting Date. Upon Vesting, the Shares and any transactions regarding the Shares will be at the risk and for the account of the
Participant. 

  

	 	5.2	At each of the Vesting Dates, the Shares, less any Shares which shall be sold and settled to pay for any applicable taxes, social security premiums and possible other deductions by the government due in connection with
the Vesting of the Shares (unless the Participant indicates that he/she prefers that such Shares shall not be sold and settled, as set out in clause 5.3 of these Plan Rules), shall be registered in the shareholders register of the Company.

  

	 	5.3	If a Participant prefers not to sell any Shares in connection with any applicable taxes, social security premiums and possible other deductions by the government due in connection with the Vesting, such Participant
should notify the Compliance Officer of such preference in writing during any period which is not a closed period as referred to in clause 7.2 of these Plan Rules. The Participant acknowledges that he/she should have sufficient funds available at
the Vesting Date to pay any taxes due. 

  

	 	5.4	Notwithstanding Vesting, the Company will impose a restriction on the Participant to hold the Shares for a Holding Period of three (3) years following the relevant Vesting Date and the Participant will not be
entitled to execute any transactions regarding the Shares during this Holding Period, except as provided in clause 7.3 of these Plan Rules. After this Holding Period, the Shares shall be Released and the Participant will be entitled to exercise its
rights relating to the Shares as provided for in these Plan Rules. For the avoidance of any doubt, this provision will not be affected (i.e. the Holding Period remains in full force and effect) if the employment of a Participant is terminated during
this Holding Period for whatever reason. However, the Holding Period and the restrictions to execute transactions regarding the Shares will end in case of and at the date of death of the Participant. The applicable Holding Period, as referred to in
this section will be notified to the Participant in writing. No holding period will be imposed on any cash component of the Variable Compensation. 

  

	 	5.5	Release of any Shares will take place at the Release Date following the end date of the relevant Holding Period. 

  

	 	6	Transactions regarding the Shares 

	 	6.1	The Participant can only perform any Transactions regarding Shares, once they have been Vested and Released, in accordance with clause 5 and subject to the conditions of clause 7. 

 

	 	6.2	Transactions regarding the Shares can be executed only by submitting a request to the Company’s secretary. Transactions regarding the Shares can be executed on Business Days only. If it is not possible to exercise
on the indicated day (for any reason), the exercise will take place on the first Business Day on which exercising the order will be possible, such at the risk of the Participant. 

 

	 	6.3	When the Participant has filed an order to sell all or part of the Shares, the Company will use its best efforts to sell the number of Shares indicated by the Participant at the NYSE Euronext stock exchange in
Amsterdam, The Netherlands as soon as possible after the request as referred to in clause 6.2 of these Plan Rules has been received. 

  
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	 	6.4	The Company shall pay the value of the Shares as calculated on the basis of the Share price at the NYSE Euronext stock exchange in accordance with clause 6.3 of these Plan Rules as soon as possible after the order has
been processed and the Shares have been sold. The Company shall be entitled to withhold any (trade) costs, taxes (or other amounts to be deducted) due on the value of the Share after exercise. The remaining amount shall be remitted to the
Participant in accordance with appropriate payroll practices. The Participant hereby accepts the tax consequences of any transactions regarding the Shares. In case of late payment the Company will have no obligation to compensate interest to the
Participant. 

  

	 	6.5	Upon the termination of employment of a Participant, the Shares that have Vested pursuant to clause 4 and are held at the shareholders register of the Company shall, at the option of the Participant (or the legal
personal representative of the deceased Participant), (i) remain registered in the shareholders register of the Company, (ii) be transferred into another current account as designated by the Participant to the Company or (iii) be sold and
be paid to the Participant in accordance with clauses 6.3 and 6.4 of these Plan Rules. Such transfer or sale and the corresponding payment shall be executed at the lapse of the three-year Holding Period (if applicable) set out in clause 5.4 of these
Plan Rules or as soon as possible thereafter. 

  

	 	6.6	The Company does not accept any liability with regard to the processing of any orders for any transactions regarding the Shares by the Participant in any way. 

 

	 	6.7	The Company is entitled to amend the procedure for transactions regarding the Shares from time to time at its absolute discretion. The Company will inform the Participant of any relevant change in the procedure.

  

	 	6.8	The costs of any transactions regarding the Shares will be for the account of the Participant. 

  

	 	7	Regulatory restrictions and inside information 

	 	7.1	The Shares are stocks traded at the NYSE Euronext stock exchanges in Amsterdam and New York and, consequently, are governed by laws and regulations with regard to inside information. No transactions (including but not
limited to a sale of the Shares) regarding the Shares may be effected when the Participant has inside information. Inside information is defined as “knowledge of information which is specific, which directly or indirectly concerns the Company
or the trade in Aegon securities, which has not been made public and which, if made public, could have a significant influence on the price of the Aegon securities”. 

 

	 	7.2	In any event, no transaction regarding the Shares may be effected during the following black-out periods: 

	 	    	(i) a period immediately preceding the publication of the Company’s annual report; 

	 	    	(ii) a period immediately preceding the publication of the Company’s six-month results and the quarterly results or the announcement of any dividend or interim dividend; and 

	 	    	(iii) any additional black-out periods mandatory for designated employees as announced by the Company’s Compliance Officer from time to time. 

	 	    	The periods referred to under (i) and (ii) will be announced annually by the Compliance Officer. 

  

	 	7.3	The ban in clauses 5.4, 7.1 and 7.2 of these Plan Rules are not applicable in the event of a transaction regarding a Share that takes place at the Vesting Date to cover for any taxes, social insurance premiums and
possible other deductions by the government due by the Participant in connection with the Vesting and/or, Release of the Shares into its account, in accordance with clauses 5.2 and 5.3 of these Plan Rules. 

  
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	 	7.4	The Participant must at all times comply with the applicable laws and regulations and the Company’s insider trading rules (the “Aegon N.V. Employee Insider Trading Rules” or the “Aegon N.V. Insider
Trading Rules”, whichever applies to a Participant) as amended from time to time. These regulations include the requirement for the Participant to notify any transactions within five days following such transaction (i) to the
Company’s Compliance Officer and (ii) if the Participant qualifies as ‘designated insider’ according to the Aegon N.V. Insider Trading Rules, to the Dutch Authority for the Financial Markets (“AFM”). Vesting is
considered a transaction which require notification to the Company’s Compliance Officer and the AFM in accordance with the above insider dealing rules. In the event of any questions or doubts, the Participant should contact the Company’s
Compliance Officer. 

  

	 	8	Additional conditions 

	 	8.1	The costs, legal mandatory tax deductions, employee social insurance premiums and possible other deductions by the government relating to the Variable Compensation (whether on the employee or on the employer) shall be
for the account of the Participant and shall be deducted from the salary payment to the Participant or the pension payment to the Participant if possible. All expenses and costs in connection with the operation of these Plan Rules shall be borne by
the Company. 

  

	 	8.2	The Shares that have been granted as part of the Variable Compensation are strictly personal and the right to receive such Shares cannot be assigned or transferred in any way or in any other manner of passing of title.
The Shares that have been conditionally granted but not been delivered and transferred cannot be pledged or encumbered in any other way. The Shares that may have been assigned, transferred, pledged or encumbered in any manner in contravention of
this clause become null and void and will not be delivered or transferred to the Participant. 

  

	 	8.3	The Participant hereby acknowledges and agrees that Aegon may disclose certain details to any governmental or regulatory authority (including tax authorities) regarding the Shares that a Participant has been
conditionally granted and/or allocated including but not limited to the number, the value and any dividend regarding the Shares. 

  

	 	8.4	It is not allowed to hedge the Shares, for example by the selling or purchasing of options on Shares, whether or not marketable. 

  

	 	8.5	In the event of any changes in the capital structure of the Company between the start of the Plan Year (conditional grant of Variable Compensation) and the Vesting of Shares which results in an increase of the total
share capital or a material change in the structure of the share capital or share premium of the Company and a change in the economic equivalence of the Shares, or on the basis of any applicable legislation, the Company may at its absolute
discretion adjust the number of conditionally granted Shares in accordance with customary anti-dilution market practice provisions. Any such adjustment should not lead to the total Variable Compensation exceeding the amount of the Fixed Salary.

  

	 	8.6	Granting the Variable Compensation (including Shares) to the Participant according to these Plan Rules is restricted to the Plan Year. Granting of Variable Compensation (including Shares) during any other financial year
is the absolute discretion of the Company. The Company has no obligation to grant Variable Compensation (including Shares) in the future. 

  
 12 

 

 
  

	 	8.7	The Company may at any time unilaterally amend any term or condition of these Plan Rules. In particular, the Company is free to amend any term or condition in the case of new (fiscal, employment or other) legislation
and/or amended regulations and/or directions, requests or instructions by or on behalf of any financial supervising authorities and/or other guidelines as applicable from time to time within the financial sector. 

 

	 	8.8	The Shares do not form part of the employment agreement of any Participant, nor grant any Participant any employment rights or guarantee employment as an employee of the Company and no (future) rights or benefits can be
obtained or implied other than as specifically set out in these Plan Rules. 

  

	 	8.9	No damages or compensation shall be payable in consequence of the termination of employment (whether or not in circumstances giving rise to a claim for wrongful or unfair dismissal or local equivalent thereof) or for
any other reason whatsoever to compensate him for the loss of any rights the Participant would otherwise have had (actual or contingent) under these Plan Rules and the Participant shall be deemed irrevocably to have waived any such rights to which
it may otherwise have been entitled. 

  

	 	8.10	No individual shall have any claim against the Company arising out of his not being admitted to participation in these Plan Rules which (for the avoidance of doubt) is entirely at the full discretion of the Company.

  

	 	8.11	No Participant shall be entitled to claim compensation from the Company in respect of any sums paid by him pursuant to these Plan rules or for any diminution or extinction of its rights or benefits (actual or otherwise)
under any Variable Compensation held by him/her following the lapse for any reason of any Variable Compensation held by him or otherwise in connection with these Plan Rules and the Company shall be entirely free to conduct its affairs as it sees fit
without regard to any consequences under, upon or in relation to these Plan Rules or any Variable Compensation. 

  

	 	8.12	By accepting any Variable Compensation, the Participant hereby explicitly and unambiguously consents to the collection, storage, use, processing and transfer, in electronic or other form, of his/her personal data (as
described below) by and among, as applicable, the Company for the exclusive purpose of implementing, administering and managing his/her Variable Compensation, and the transfer of such data by them to government and other regulatory authorities for
the purpose of complying with their legal obligations in connection with any Grants of Variable Compensation. 

  

	 	8.13	This data may include the Participant’s name, home address and telephone number, email address, date of birth, social security number or other identification number, salary, nationality, job title, details of all
rights and any other entitlement to shares (conditionally) granted, allocated, awarded, cancelled, purchased, vested, unvested or outstanding (Data). The Company is the data controller for these Data. 

 

	 	8.14	The Participant further agrees that Data may be transferred to any third parties assisting in the implementation, administration and management in connection with these Plan Rules, that these recipients may be located
in his/her country, or elsewhere including outside the European Economic Area, and that such location may have less adequate data privacy laws and protections than the Participant’s own country. 

 

	 	8.15	Data will be held only as long as necessary to implement, administer and manage these Plan rules. The Participant may, at any time, view the Data, request additional information about the storage and processing of the
Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without cost. 

  
 13 

 

 
  

	 	8.16	Refusing or withdrawing his/her consent as referred to in this clause 8, although it will not have any negative effect on his/her employment, may affect any potential Grant, Allocation, Vesting, Pay-out or Release of
any Variable Compensation to the Participant. 

  

	 	8.17.	If any provision in these Plan Rules are held to be invalid or unenforceable, no other provision of these Plan Rules will be affected thereby. 

 

	 	8.18.	These Plan Rules are governed by Dutch Civil Law. 

  

	 	8.19	These Plan Rules shall apply for the Plan Year 2013 and will remain in force until the earlier of (i) any amendments are made to these Plan Rules and (ii) these Plan Rules are terminated by the Company,
provided that no Grants will be made under these Plan Rules after 31 December 2013. 

  

	 	8.20	These Plan Rules will not be considered an amendment or adjustment of any short-term or long-term variable compensation plans existing prior to 1 January, 2013, and no further grants under any such plans will be
made after 2013, and, if made, will be considered null and void.EX-4.2

 Exhibit 4.2 

E4X INC. U.S. SHARE OPTION PLAN 

A. NAME AND PURPOSE 
 1. Name
and Purpose: E4X Inc., a Delaware corporation (the “Company”) sponsors this plan, as amended from time to time, which shall be known as the “E4X INC. U.S. SHARE OPTION PLAN” (the “Plan”). The purpose
and intent of the Plan is to provide incentives to employees, directors, consultants and contractors of the Company by providing them with opportunities to purchase Common Stock, par value US$ 0.01 each of the Company (the
“Shares”). 
 2. Definitions: 

2.1 “Code” means the Internal Revenue Code of 1986, as amended. 

2.2 “Incentive Stock Option” or “ISO” means an “incentive stock option” within the meaning of
Section 422 of the Code. 
 2.3 “Nonqualified Stock Option” or “NQSO” means an Option that is not an
Incentive Stock Option. 
 2.4 “Ten-Percent Stockholder” means an Eligible Grantee, who, at the time an Incentive Stock
Option is to be granted to such Eligible Grantee, owns (within the meaning of Section 422(b)(6) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, a parent
or a subsidiary within the meaning of Sections 424(e) and 424(f), respectively, of the Code. 
 B. GENERAL TERMS AND CONDITIONS OF THE PLAN

 3. Administration: 

3.1 The Plan will be administered by the Board of Directors of the Company (the “Board”) or by a committee appointed by the
Board (the “Committee”), which, if appointed, will consist of such number of directors of the Company as may be fixed, from time 

 
to time, by the Board. If a Committee is not appointed, the term Committee, whenever used herein, shall mean the Board. The Board shall appoint the members of the Committee, may from time to time
remove members from, or add members to, the Committee and shall fill vacancies in the Committee however caused. 
 3.2 The Committee shall
select one of its members as its Chairman and shall hold its meetings at such times and places as it shall determine. Actions taken by a majority of the members of the Committee, at a meeting at which a majority of its members is present, or acts
reduced to, or approved in writing by all members of the Committee, shall be the valid acts of the Committee. The Committee may appoint a Secretary, who shall keep records of its meetings and shall make such rules and regulations for the conduct of
its business as it shall deem advisable. 
 3.3 Subject to the general terms and conditions of the Plan, the Committee shall have the full
authority in its sole and absolute discretion, from time to time and at any time, to (i) determine the persons (“Grantees”) to whom options to purchase Shares (“Option(s)”) shall be granted; (ii) determine
the number of Shares to be covered by each Option; (iii) determine the time or times at which the same shall be granted; (iv) determine the price, vesting schedule and conditions on which such Options may be exercised and on which such
Shares shall be paid for; (v) interpret or construe the Plan or make determinations with respect to any other matter which is necessary or desirable for, or incidental to, the administration of the Plan; (vi) accelerate the right of a
Grantee to exercise, in whole or in part, any previously granted Option; (vii) determine the Fair Market Value of the Shares; and/or (viii) designate Options as ISOs or NQSOs. In determining the number of Shares covered by the Option to be
granted to each Grantee, the Committee may consider, among other things, the Grantee’s salary and the duration of the Grantee’s employment by the Company. Any member of the Committee shall be eligible to receive Options under the Plan
while servicing on the Committee, unless otherwise specified herein. No person shall be eligible to be a member of the Committee if that person’s membership would prevent the Plan from complying with exemptions from Section 16 set forth in
Rule 16b-3 promulgated under the Securities Exchange Act of 1934 as now in effect or as hereafter amended (the “Exchange Act”), if applicable to the Company. At such time as any class of equity securities of the Company is
registered pursuant to Section 12 of the Exchange Act, the Committee shall consist of at least two (2) individuals, each of whom is a Non-Employee Director as that term is defined in Rule 16b-3. 

  
 2 

 3.4 The Committee may, from time to time, adopt such rules and regulations for carrying out the
Plan as it may deem necessary. No member of the Board or of the Committee shall be liable for any act or determination made in good faith with respect to the Plan or any Option granted thereunder. 

3.5 The interpretation and construction by the Committee of any provision of the Plan or of any Option thereunder shall be final and conclusive
unless otherwise determined by the Board. 
 4. Eligible Grantees: 

4.1 The Committee, at its discretion, may grant Options to any employee, director, consultant or contractor of the Company or of a subsidiary
of the Company. 
 4.2 The grant of an Option to a Grantee hereunder, shall neither entitle such Grantee to participate, nor disqualify him
from participating, in any other grant of options pursuant to the Plan or any other stock option plan of the Company. 
 5. Grant of
Options and Issuance of Shares: Subject to any applicable law, the effective date of the grant of an Option (the “Date of Grant”) shall be the date specified by the Committee in its determination relating to the award of such
Option. The Committee shall promptly give the Grantee written notice of the grant of an Option, and the Grantee shall execute an agreement evidencing such grant and the rights and obligations of the Grantee and the Company with respect to such
Option Agreement (the “Option Agreement”). 
 6. Reserved Shares: The Company has reserved 350,000 authorized but
unissued Shares for purposes of issuance under the Plan, and for other stock option plans of the Company, subject to adjustments as provided in Section 11 hereof. All Shares under the Plan, in respect of which the right hereunder of a Grantee
to purchase the same shall, for any reason, terminate, expire or otherwise cease to exist, shall again be available for grant through Options under the Plan. 

  
 3 

 7. Grant of Options: 

7.1 The Committee in its discretion may award to Grantees Options to purchase Shares in the Company available under the Plan. 

7.2 The Option Agreement shall state, inter alia, the number of Shares covered thereby, the vesting schedule, the dates when the Option may be
exercised, the exercise price, and such other terms and conditions as the Committee at its discretion may prescribe, provided that they are consistent with the Plan. 

7.3 Options granted thereunder shall be for such term as the Committee shall determine, provided that (i) no Incentive Stock Option shall
be exercisable after the expiration of ten (10) years from the date it is granted (five (5) years in the case of an Incentive Stock Option granted to a Ten-Percent Stockholder) and (ii) no Nonqualified Stock Option shall be
exercisable after the expiration of ten (10) years and one (1) day from the date it is granted. The Committee may, subsequent to the granting of any Option, extend the term thereof but in no event shall the term as so extended exceed the
maximum term provided for in the preceding sentence. 
 7.4 The schedule pursuant to which such Options shall vest, and the Grantee shall be
entitled to pay for, and acquire, the Shares, shall be determined by the Committee at its sole discretion. Vesting of Options granted hereunder will continue only during periods when the employer-employee or other service-provider relationship exist
between the relevant Company and the Grantee. For the purposes of this paragraph 7.4, the employer-employee or other service-provider relationship will not be deemed to exist with regard to periods during which the Grantee is on an unpaid leave of
absence from the Company. 
 8. Exercise Price: The exercise price per Share covered by each Option shall be determined by the
Committee in its sole and absolute discretion; provided, however: 
 8.1 In the case of an Incentive Stock Option granted to any Eligible
Grantee other than a Ten-Percent Stockholder, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of the grant. 

  
 4 

 8.2 In the case of a Nonqualified Stock Option granted to any Grantee other than a Ten-Percent
Stockholder, the per Share exercise price shall be no less than 85% of the Fair Market Value per Share on the date of the grant. 
 8.3 In
the case of an Incentive Stock Option granted to any Ten-Percent Stockholder, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of the grant. 

8.4 In no event shall the exercise price of an Option be less than the nominal value of the Shares into which such Option is exercisable. 

8.5 Subject to the foregoing, the Committee may reduce the exercise price of any outstanding Nonqualified Stock Option. In the event of such
amendment, the Date of Grant of such Option shall thereafter be considered to be the date of such amendment; provided, however, that for purposes of vesting, the Option shall continue to be exercisable based on the terms set forth in
the original Option Agreement. 
 8.6 For the purposes hereof, “Fair Market Value” means the fair market value of the Shares
as determined by the Committee; provided, however, that (A) if the Shares are admitted to trading on a national securities exchange, Fair Market Value on any date shall be the last sale price reported for the Shares on such exchange on
such date or on the last date preceding such date on which a sale was reported; (B) if the Shares are admitted to quotation on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”) or other
comparable quotation system and have been designated as a National Market System (“NMS”) security, Fair Market Value on any date shall be the last sale price reported for the Shares on such system on such date or on the last day
preceding such date on which a sale was reported; (C) if the Shares are admitted to quotation on NASDAQ and have not been designated as a NMS Security, Fair Market Value on any date shall be the average of the closing bid and closing asked
prices of the Shares on such system on such date; or (D) in the absence of an established market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Committee. 

  
 5 

 8.7 Notwithstanding any other provision of the Plan to the contrary, the aggregate Fair Market
Value (determined as of the date of grant) of the Shares with respect to which Incentive Stock Options granted to a Grantee by the Company or any parent or subsidiary of the Company are exercisable for the first time shall not exceed $100,000 in any
calendar year; provided, however, that any Option designated as an Incentive Stock Option under the Plan or any portion thereof that exceeds the foregoing limit or that is otherwise disqualified as an incentive stock option by
operation of Section 422(d) or any other provision of the Code, shall be treated as a Nonqualified Stock Option for purposes of the Plan. 

9. Exercise of Options: 

9.1 Options shall be exercisable pursuant to the terms under which they were awarded and subject to the terms and conditions of this Plan and
the Option Agreement. 
 9.2 The exercise of an Option shall be made by a written notice of exercise (the “Notice of
Exercise”) delivered by the Grantee to the Company at its principal executive office, specifying the number of Shares to be purchased and accompanied by the payment therefor, and containing such other terms and conditions as the Committee
shall prescribe from time to time. An Option may be exercised in whole or in part to the extent exercisable under the Plan and Option Agreement. 

9.3 Anything herein to the contrary notwithstanding, but without derogating from the provisions of Section 10 hereof, if any Option has
not been exercised and the Shares covered thereby not paid for within ten (10) years after the Date of Grant (or any shorter period set forth in the Option Agreement), such Option and the right to acquire such Shares shall terminate, and all
interests and rights of the Grantee in and to the same shall ipso facto expire. 
 9.4 Each payment for Shares shall be in respect of
a whole number of Shares, and shall be effected in cash or by a bank’s check payable to the order of the Company, or such other method of payment acceptable to the Company. 

  
 6 

 10. Termination of Employment: 

10.1 In the event that a Grantee ceases, for any reason, to be employed by the Company, all Options theretofore granted to such Grantee shall
terminate as follows: 
 (a) All Options which are not vested and not exercisable at the time of the cessation of employment shall terminate
immediately. 
 (b) If the Grantee ceases to be employed by reason of such Grantee’s death or “Disability” (as hereinafter
defined), such Options (to the extent exercisable at the time of the Grantee’s cessation of employment) shall be exercisable by the Grantee, Grantee’s legal representative, estate of other person to whom the Grantee’s rights are
transferred by will or by laws of descent or distribution at any time until the end of a one-year period as of the Grantee’s cessation of employment (but in no event after the expiration date of such Option), and shall thereafter terminate. For
purposes hereof, Disability shall mean a physical or mental impairment constituting a permanent and total disability within the meaning of Section 22(e)(3) of the Code. 

(c) If the Grantee ceases to be employed for any other reason, such Options (to the extent exercisable at the time of the Grantee’s
cessation of employment) shall be exercisable at any time until the end of three (3) months from the cessation of the Employee’s employment (but in no event after the expiration date of such Option), and shall thereafter terminate. 

(d) Notwithstanding the aforesaid in Section 10.1(c) above, if the Grantee’s termination of employment is due to (i) breach of
the Grantee’s fiduciary duties towards any of the Company, or (ii) breach of the Grantee’s duty of care towards any of the Company, or (iii) the Grantee has committed any flagrant criminal offense, or (iv) the Grantee has
committed a fraudulent act towards any of the Company, or (v) the Grantee caused intentionally, by act or omission, any financial damage to any of the Company, all the Options whether vested or not shall ipso facto expire immediately and
be of no legal effect. For the purposes of this Section 10.1(d), the date of termination of employment shall be the date on which the termination notice is sent to the Grantee, or the date on which the resignation notice is sent to the
employer, as the case may be, regardless of the actual date of cessation of work. 

  
 7 

 (e) Whether the cessation of employment of a particular Grantee is for reason of
“Disability” for the purposes of paragraph 10.1(b) hereof or is a termination of employment other than by reason of such Disability or is for reasons as set forth in paragraph 10.1(d) hereof, shall be finally and conclusively determined by
the Committee in its absolute discretion. 
 10.2 In the event that a Grantee that is a director, consultant or contractor of the Company,
ceases, for any reason, to serve as such, all the Options, which were granted to such Grantee and which are not vested, shall terminate on such date of cessation of service as a director, consultant or contractor (“Date of
Cessation”), and all Options which are vested on the Date of Cessation, shall be exercisable at any time until the end of three (3) months from the Date of Cessation. 

For the purposes of this Section 10, Date of Cessation shall mean: 

(a) with regard to directors, the date on which a director submits notice of resignation from the Board or the date on which the shareholders
of the Company remove such director from the Board; and 
 (b) with regard to consultants and contractors, the date on which the consulting
or contractor agreement between such consultant or contractor, as applicable, and the Company or the date on which either of the parties to such agreement sends the other notice of its intention to terminate said agreement. 

11. Adjustment Upon Changes in Capitalization; Exit Events; Liquidation: 

11.1 Subject to any required action by the shareholders of the Company, the number of Shares covered by each outstanding Option, and the number
of Shares which have been authorized for issuance under the Plan but as to which no Options have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option, as well as the price per share of Shares covered
by each such outstanding Option, shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Shares or the
payment of a stock dividend (bonus shares) with respect to the Shares or any other increase or decrease in 

  
 8 

 
the number of issued Shares effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be
deemed to have been “effected without receipt of consideration”. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect,
and no adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an Option. 
 11.2 Any such
adjustment in the Shares or other securities subject to outstanding Incentive Stock Options (including any adjustments in the purchase price) shall be made in such manner as not to constitute a modification as defined by Section 424
(h) (3) of the Code and only to the extent otherwise permitted by Sections 422 and 424 of the Code. 
 11.3 Exit Events. In any of
the following events (“Exit Events”): (i) a merger or consolidation of the Company with or into one or more other corporations following which the shareholders of the Company immediately prior to such merger or consolidation shall
hold shares representing less than a majority of the voting power of the outstanding shares of the surviving corporation; (ii) a sale of all or substantially all of the assets of the Company; or (iii) any other transaction in which control
of Company is affected, the Committee shall be entitled, at its sole and absolute discretion, to determine the terms and conditions of the Options and/or the Option Shares, whether vested or unvested, including, without limitation: 

(i) to determine that the Options, or any part thereof, shall vest and be exercised immediately (or otherwise shall terminate); 

(ii) to determine that the Shares issuable upon exercise of the Options, or any part thereof, shall be sold to a third party as directed by
the Board in accordance with the terms determined by the Board; and/or 
 (iii) upon any event where the consideration received shall be the
exchange of the securities of the Company for the securities of the acquiring company or a parent or a subsidiary of such company (the “Successor Entity”), to determine that each Option shall be substituted for an option to purchase
shares of the Successor Entity (and appropriate adjustments shall be made in the purchase price per share to reflect such exchange), or shall be assumed by the Successor Entity. 

  
 9 

 11.4 Dissolution or Liquidation. If the Company is liquidated, whether voluntarily or
involuntarily, while unexercised Options remain vested under the Plan, the Company shall immediately notify all Grantees of such liquidation resolution or order (as the case may be), and the Grantees shall then have ten (10) days to exercise
any unexercised vested Options held by them at that time, in accordance with the exercise procedure set forth herein. Upon the expiration of such ten-day period, all remaining unexercised Options will terminate immediately. For avoidance of doubt
any unvested Options will immediately terminate at the event of such liquidation. 
 12. Limitations on Transfer: 

12.1 Non-Transferability. No Option shall be assignable or transferable by the Grantee to whom granted otherwise than by will or the
laws of descent and distribution, and an Option may be exercised during the lifetime of the Grantee only by such Grantee or by such Grantee’s guardian or legal representative. The terms of such Option shall be binding upon the beneficiaries,
executors, administrators, heirs and successors of such Grantee. 
 12.2 Underwriter’s Lock-up. If requested by any managing
underwriter, each Grantee so requested shall enter into a lock-up agreement pursuant to which they will not, for a period of 120 days following the effective date of a registration statement for any primary or secondary public offering of Shares (or
for a period of 180 days following the initial public offering of Shares) and for such reasonable period of time prior to the effective date of such registration statement as such underwriter may specify, offer, sell or otherwise dispose of any
Shares, except any Shares sold pursuant to such registration statement, without the prior consent of such underwriter. 
 13. Term and
Amendment of the Plan: 
 13.1 The Plan was authorized by the Board on August 1, 2001, and shall expire on July 31, 2011
(except as to Options outstanding on that date). The Plan shall be effective as of the date that it is adopted by the Board and shall terminate at the end of ten (10) years from such 

  
 10 

 
day of adoption. The Plan shall be effective subject to the approval by the shareholders of the Company within one year of the date that it is adopted by the Board. No ISO shall be exercised
unless and until the Plan has been approved by the shareholders of the Company. 
 13.2 Subject to applicable laws, the Committee may, at any
time and from time to time, terminate or amend the Plan in any respect. 
 14. Tax Consequences: All tax consequences and
obligations regarding any other compulsory payments arising from the grant or exercise of any Option, from the payment for, or the subsequent disposition of, Shares covered thereby or from any other event or act (of the Company or the Grantee)
hereunder, shall be borne solely by the Grantee, and the Grantee shall indemnify the Company and hold it harmless against and from any and all liability for any such tax or other compulsory payments or interest or penalty thereon, including without
limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax or other compulsory payments from any payment made to the Grantee. 

15. Restricted Stock: 

15.1 The Shares issuable upon exercise of the Options granted herein will be “restricted securities” under the Securities Act of 1933
and the regulations promulgated hereunder (the “Act”) and may not be resold absent registration under the Act or an available exemption thereunder. In the event that an owner of Shares issued pursuant to this Plan effects a sale or
transfer of such Shares under an available exemption under the Act, such owner shall, before effecting such sale or transfer, (i) notify the Company in writing of the proposed disposition and the name of the proposed transferees,
(ii) furnish the Company with an opinion of counsel satisfactory in form and content to the Company, and (iii) furnish the Company with an agreement in writing from the transferee pursuant to which such transferee agrees to be bound by the
provisions contained herein and in the Option Agreement, or (iv) the Company shall have waived, expressly and in writing, its rights under clauses (i), (ii) and (iii) of this subsection. 

15.2 The Shares issuable upon exercise of the Options granted herein, once any such Option is exercised and the Shares issued, will be subject
to a lock-up for 180 days (or for such longer period as may be requested by the Company’s underwriter or underwriters) 

  
 11 

 
following the date immediately subsequent to the first date of the effectiveness of the first underwritten public offering of any of the Company’s securities. In connection with any
subsequent underwritten public offering of the Company’s securities, the Shares issuable upon exercise of the Options granted herein, once any such Option is exercised and the Shares issued, will be subject to a lock-up for 120 days (or such
longer period as may be requested by the Company’s underwriter or underwriters) following the date immediately subsequent to the first date of the effectiveness of such public offering. During such periods, if the owner of the option Shares is
not participating in such public offering, the owner of the option Shares will not be allowed to sell or transfer, or offer to sell or transfer, any Shares without the prior written consent of the Company’s underwriter or underwriters. 

15.3 Right of First Refusal. Commencing on the end of the Restriction Period (as defined in Section 15.4 below) and until the
earliest of (i) an Initial Public Offering of the Company’s shares (“IPO”) or (ii) an Exit Event, any transfer of Shares issuable upon exercise of the Options granted herein shall be subject to the following: 

(a) Any Grantee proposing to transfer such Shares (other than to his spouse or lineal descendant) (the “Offeror”) shall first
request the Company, by written notice (which shall contain all the information necessary to enable the Company so to do), to offer such shares (the “Offered Shares”), on the terms of the proposed transfer, to the other shareholders
of the Company (the “Offerees”). The Company shall comply with such request by sending the Offerees a written notice (the “Offer”), stating therein the identity of the Offeror and of the proposed transferee(s) and
the proposed terms of sale of the Offered Shares. Any Offeree may accept such offer in respect of all or any of the Offered Shares by giving the Company notice to that effect within twenty-one (21) days after being served with the Offer. 

(b) If the acceptances, in the aggregate, are in respect of all of, or more than, the Offered Shares, then the accepting Offerees shall
acquire the Offered Shares, on the terms aforementioned, in proportion to their respective holdings provided that no Offerees shall be entitled to acquire under the provisions of this Section 15.3(b) more than the number of Offered Shares
initially accepted by such Offeree, and upon the allocation to him of the full number of shares so accepted, he shall be disregarded in any subsequent computations and 

  
 12 

 
allocations hereunder. Any shares remaining after the computation of such respective entitlements shall be re-allocated among the accepting Offerees (other than those to be disregarded as
aforesaid), in the same manner, until one hundred per cent (100%) of the Offered Shares have been allocated as aforesaid. 
 (c) If the
acceptances, in the aggregate, are in respect of less than the number of Offered Shares, then the accepting Offerees shall not be entitled to acquire the Offered Shares, and the Offeror, at the expiration of the aforementioned twenty-one
(21) day period, shall be entitled to transfer all (but not less than all) of the Offered Shares to the proposed transferee(s) identified in the Offer, provided, however, that in no event shall the Offeror transfer any of the Offered Shares to
any transferee other than such accepting Offerees or such proposed transferee(s) or transfer the same on terms more favorable to the buyer(s) than those stated in the Offer, and provided further that any of the Offered Shares not transferred within
ninety (90) days after the expiration of such twenty-one (21) day period shall again be subject to the provisions of this Section 15.3. 

15.4 Non-Transferability. Without derogating from the provisions of Section 15.1 above, no Share issuable upon exercise of the
Options shall be transferable by the Grantee during a period of 180 days following the issuance of such Share (the “Restriction Period”). 

16. Miscellaneous: 
 16.1
Continuance of Employment: Neither the Plan nor the grant of an Option thereunder shall impose any obligation on the Company to continue the employment of any Grantee, and nothing in the Plan or in any Option granted pursuant thereto shall
confer upon any Grantee any right to continue in the employ of the Company, or restrict the right of the Company to terminate such employment at any time. 

16.2 Governing Law; Regulations and Approvals: 

16.2.1 The Plan and all instruments issued thereunder or in connection therewith, shall be governed by, and interpreted in accordance with,
the laws of the State of Delaware. 

  
 13 

 16.2.2 The obligation of the Company to sell or deliver Shares with respect to Options granted
under the Plan shall be subject to all applicable laws, rules and regulations and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee. 

16.2.3 Subject to Section 9, the Committee may make such changes as may be necessary or appropriate to comply with the rules and
regulations of any government authority or to obtain for Grantees granted Incentive Stock Options the tax benefits under the applicable provisions of the Code and regulations promulgated thereunder. 

16.2.4 Each Option is subject to the requirement that, if at any time the Committee determines, in its absolute discretion, that the listing,
registration or qualification of Shares issuable pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any state or federal law, or the consent or approval of any governmental
regulatory body is necessary or desirable as a condition of, or in connection with, the grant of an Option or the issuance of Shares, no Options shall be granted or payment made or Shares issued, in whole or in part, unless listing, registration,
qualification, consent or approval has been effected or obtained free of any conditions that are not acceptable to the Committee. 
 16.3
Application of Funds: The proceeds received by the Company from the sale of Shares pursuant to Options granted under the Plan will be used for general corporate purposes of the Company. 

16.4 Multiple Agreements: The terms of each Option may differ from other Options granted under the Plan at the same time, or at
any other time. The Committee may also grant more than one Option to a given Grantee during the term of the Plan, either in addition to, or in substitution for, one or more Options previously granted to that Grantee. The grant of multiple Options
may be evidenced by a single Option Agreement or multiple Option Agreements, as determined by the Committee. 

  
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 16.5 Non-Exclusivity of the Plan: The adoption of the Plan by the Committee shall not be
construed as amending, modifying or rescinding any previously approved incentive arrangement or as creating any limitations on the power of the Committee to adopt such other incentive arrangements as it may deem desirable, including, without
limitation, the granting of stock options otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 

16.6 Withholding of Taxes: The Company shall have the right to deduct from any payment of cash to any Grantee an amount equal to the
income taxes and other amounts required by law to be withheld with respect to any Option. Notwithstanding anything to the contrary contained herein, if an Grantee is entitled to receive Shares upon exercise of an Option, the Company shall have the
right to require such Grantee, prior to the delivery of such Shares, to pay to the Company the amount of any income taxes and other amounts that the Company is required by law to withhold. With respect to any Incentive Stock Options granted under
this Plan, if the Grantee makes a disposition, within the meaning of Section 424(c) of the Code and regulations promulgated thereunder, of any Share or Shares issued to such Grantee pursuant to such Grantee’s exercise of the Incentive
Stock Option, and such disposition occurs within the two-year period commencing on the day after the date of grant of such Option or within the one-year period commencing on the day after the date of issuance of the Share or Shares to the Grantee
pursuant to the exercise of such Option, such Grantee shall, within ten (10) days of such disposition, notify the Company thereof and thereafter immediately deliver to the Company any amount of income taxes and other amounts that the Company
informs the Grantee the Company is required to withhold. 
 16.7 Proxy: Upon a grant of Options to a Grantee, such Grantee shall dully
sign and deposit with the Company an irrevocable proxy with respect to Shares issuable upon the exercise of such Options, to a trustee indicated by the Company (who shall not be an officer or a shareholder of the Company) (the
“Trustee”), in such form as the Company shall request (the “Proxy”). The Proxy shall grant the Trustee the right to vote in the Grantee’s stead, at the Trustee’s full and absolute discretion, in all
Shareholders Meetings of the Company. In exercising the voting rights granted thereto, the Trustee shall consider the interests of the Grantee only. The proxy shall expire upon the earliest of (i) an Exit Event or (ii) an IPO. 

  
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