Document:

Stockholders Agreement

 Exhibit 10.10 
 EXECUTION VERSION 
 STOCKHOLDERS AGREEMENT 

This STOCKHOLDERS AGREEMENT (this “Agreement”) is made as of March 3, 2011 by and among Platinum Energy
Solutions Inc., a Nevada corporation (the “Company”), the holders acquiring units consisting of the Company’s Common Stock and Preferred Stock set forth on Schedule A attached hereto (the
“Investors”), and each other stockholder of the Company that has become a party to this Agreement and identified on Schedule A attached hereto (collectively with the Investors, “Stockholders”).

 RECITALS 
 WHEREAS, the Company and the Investors are parties to the Stock Unit Purchase Agreement of even date herewith (the “Purchase Agreement”) and certain other agreements
ancillary thereto (the “Transaction Documents”); and 
 WHEREAS, in order to induce the Company
to enter into the Purchase Agreement and to induce the Investors to invest funds in the Company pursuant to the Purchase Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to cause the
Company to register shares of Common Stock issued to the Investors and certain other matters as set forth herein. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge, the parties hereto agree as follows: 
 1. Registration Rights. 
 1.1 Definitions. For purposes of this
Agreement: 
 (a) “Affiliate” of any specified Person means (a) any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person, including, without limitation, any partner, officer, director, member, employee or advisor of such Person and, which respect to any Person
that is an investment fund, any investment fund now or hereafter existing which is controlled by or under common control with one or more general partners or managers of such Person and any limited partners thereof, and (b) any director or
officer of such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of
such Person, whether through the ownership of voting securities, by agreement or otherwise; provided, that beneficial ownership of 10% or more of the voting stock of a Person shall be deemed to be control. For purposes of this definition, the
terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

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

(c) “Business Day” means any day other than a Legal Holiday. 

(d) “Common Stock” means the common stock, par value $0.001 per share, of the Company and any shares now or
hereafter authorized of any class of common shares of the Company however designated, that has the right (subject to any prior rights of any class or series of preferred stock) to participate in any distribution of the assets or earnings of the
Company without limit as to per share amount. 

 (e) “Exchange Act” means the U.S. Securities Exchange Act of 1934,
as amended. 
 (f) “FINRA” means the Financial Industry Regulatory Authority. 

(g) “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee
thereof in accordance with Section 2.8 hereof. 
 (h) “Indenture” means the indenture, dated
as of March 3, 2011 by and among the Company, the guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee and as collateral agent, relating to the Notes. 

(i) “IPO” means the Company’s first firm commitment underwritten public offering of its Common Stock under
the Securities Act that is approved by at least four-fifths of the members of the Board. For the purposes hereof, a Qualified IPO shall be deemed an IPO. 
 (j) “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York remain closed. 

(k) “Management Holders” means (a) any of (i) Daniel T. Layton; (ii) J. Clarke Legler, II;
(iii) L. Charles Moncla, Jr.; (iv) Milburn J. Duconte; and (v) Rodney P. Dartez; and (b) any Related Party of any one or more of the Persons listed in clause (a) above. 

(l) “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, and unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
 (m) “Preferred Stock” means the Series A Preferred Stock, par value $0.001 per share, of the Company. 
 (n) “Prospectus” means the prospectus included in a Registration Statement at the time such Registration Statement is declared effective, as amended or supplemented by any
prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such prospectus. 
 (o) “Qualified IPO” means an initial public offering of the Company’s equity securities in a nationally recognized exchange with total proceeds available to the public of $50
million or more and an implied pre-money equity market capitalization of at least $125 million. 
 (p) “Registrable
Security” means (i) the Shares and (ii) any other securities issued or issuable with respect to the Shares by way of Common Stock dividend or split of Common Stock or in connection with a combination of Common Stock,
recapitalization, merger, consolidation or other reorganization, including, without limitation, a conversion by the Company into a corporation, or otherwise. As to any particular Registrable Securities, such securities shall cease to be Registrable
Securities when: 
 (a) a Registration Statement with respect to the offering of such securities by the holder thereof shall have
been declared effective under the Securities Act and such securities shall have been disposed of by such holder pursuant to such Registration Statement, (b) such securities are freely transferable without registration or limitation under
Rule 144 (or any similar provisions then in force, but not Rule 144A) promulgated under the Securities Act, (c) such securities shall have been otherwise transferred by the holder thereof and new certificates for such securities not
bearing a legend restricting further transfer shall have 

  
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been delivered by the Company or its transfer agent and subsequent disposition of such securities shall not require registration or qualification under the Securities Act or any similar state law
then in force, or (d) such securities shall have ceased to be outstanding. 
 (q) “Registration
Expenses” means all expenses incident to the Company’s performance of or compliance with Section 2 of this Agreement regardless of whether a Registration Statement becomes effective, including, without limitation,
(a) all SEC, stock exchange and FINRA registration and filing fees and expenses, (b) fees and expenses of compliance with securities or “blue sky” laws (including, without limitation, reasonable fees and disbursements of counsel
for the underwriters in connection with “blue sky” qualifications of the Registrable Securities), (c) fees and expenses of preparing, printing, filing, duplicating and distributing the Registration Statement and the related
Prospectus, (d) the cost of printing stock certificates, (e) the cost and charges of any transfer agent and rating agency fees, (f) printing, messenger, telephone and delivery expenses, (g) fees and disbursements of counsel for
the Company and all independent certified public accountants, (h) the fees and disbursements of underwriters customarily paid by issuers or sellers of securities (but not including any underwriting discounts or commissions or transfer taxes, if
any, attributable to the sale of Registrable Securities by Selling Holders) and (i) reasonable fees and expenses of one counsel for all Selling Holders. In no event shall the Company be responsible for any broker or similar commissions of any
Selling Holders, or to the extent provided herein, any legal fees or other costs of the Selling Holders 
 (r)
“Registration Statement” means any registration statement of the Company relating to the registration for resale of Registrable Securities that is filed pursuant to the provisions of this Agreement and including the
Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and all material incorporated by reference therein. 
 (s) “Related Party” means (i) any spouse, family member or relative of Daniel T. Layton, J. Clarke Legler, II, L. Charles Moncla, Jr., Milburn J. Ducote, and Rodney
P. Dartez; (ii) any spouse, family member or relative of any spouse, family member or relative referred to in clause (i) above; (iii) any estate, executor, administrator, committee or beneficiary of Daniel T. Layton, J. Clarke Legler,
II, L. Charles Moncla, Jr., Milburn J. Ducote, and Rodney P. Dartez and/or any Person described in clause (i) or (ii) above; (iv) any trust for the benefit of any one or more of Daniel T. Layton, J. Clarke Legler, II, L. Charles
Moncla, Jr., Milburn J. Ducote, and Rodney P. Dartez and/or any Person described in the clause (i), (ii) or (iii) above; and (v) any corporation, partnership, limited liability company or other business entity in which any one or more
of Daniel T. Layton, J. Clarke Legler, II, L. Charles Moncla, Jr., Milburn J. Ducote, and Rodney P. Dartez and/or any Person described in clause (i), (ii), (iii) or (iv) above beneficially holds (directly or indirectly through other
Persons described in clause (iii) or (iv) above or this clause (v)) in the aggregate a majority (or more) of the equity or other controlling interests. 
 (t) “Rule 144” means Rule 144 promulgated under the Securities Act. 
 (u) “Rule 144A” means Rule 144A promulgated under the Securities Act. 
 (v) “Sale of the Company” shall mean a single transaction or a series of transactions pursuant to which an unaffiliated Person or Persons acquire (i) capital stock of the
Company possessing the voting power to elect a majority of the Company’s Board or more than fifty percent (50%) of the voting power of the Company (whether by merger, consolidation or sale or transfer of the Company’s capital stock),
provided, however, (a) that an IPO that results in an 

  
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acquisition of voting power shall not be a Sale of the Company and (b) a merger shall not be a Sale of the Company as long as the stockholders of the Company own a majority of the common
stock of the surviving entity immediately following the merger); or (ii) all or a substantial portion of the Company’s assets determined on a consolidated basis. 
 (w) “SEC” means the United States Securities and Exchange Commission. 
 (x) “Securities Act” means the U.S. Securities Act of 1933, as amended. 
 (y) “Selling Holder” means a Holder of Shares who is selling Registrable Securities in accordance with the provisions of this Agreement. 

(z) “Shares” mean shares of the Company’s Common Stock, and all other securities of the Company which may be
issued in exchange for, or in respect of, the Shares, whether by way of stock splits, dividends, combination, reclassification, reorganization or by any other means), now owned or hereafter acquired by any stockholder of the Company. 

(aa) “Warrant Agreement” means that certain Warrant Agreement, dated March 3, 2011, between the Company and
The Bank of New York Mellon Trust Company, N.A., as Warrant Agent. 
 (bb) “Warrants” have the meaning
defined in the Purchase Agreement. 
 2. Registration Rights. 
 2.1 Piggy-Back Registration Rights. If the Company proposes to file a Registration Statement under the Securities Act (other than a Registration Statement on Form S-4 or S-8 (or any successor
form)) with respect to any class of equity securities of the Company, whether or not for its own account, then the Company shall give written notice of such proposed filing to the Holders of Shares as soon as practicable (but in no event fewer than
10 Business Days before the anticipated filing date), and such notice shall offer such Holders the opportunity to register such number of Shares as each such Holder may request in writing within 10 days after receipt of such written notice from the
Company (which request shall specify the Shares intended to be disposed of by such Selling Holder) (a “Piggy-Back Registration”). Upon the written request of any such Selling Holder made within 10 days after the receipt of
any such notice (which request shall specify the number of Registrable Securities intended to be disposed of by such Selling Holder and the intended method of disposition thereof, which shall be on the same terms and conditions as the securities of
the Company or other security holder included in the registration statement), the Company shall, subject to the terms of this Agreement, effect the registration under the Securities Act of all Registrable Securities which the Company has been so
requested to register by the Holders thereof, to the extent required to permit the disposition (in accordance with the intended methods thereof) of the Registrable Securities so to be registered, on the same terms and conditions as the securities of
the Company or other security holder included in the registration statement by inclusion of such Registrable Securities in the Registration Statement that covers the securities that the Company proposes to register; provided, that if at any time
after giving written notice of its intention to register any securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall determine for any reason either not to register or to
delay registration of such securities, the Company may, at its election, give written notice of such determination to each Selling Holder and, thereupon, (i) in the case of a determination not to register shall be relieved of its obligation to
register any Registrable Securities in connection with such registration (but not from its obligation to pay the Registration Expenses in connection 

  
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therewith) and (ii) in the case of a determination to delay registering, shall be permitted to delay registering any Registrable Securities, for the same period as the delay in registering
such other securities. 
 2.2 Inclusion in Registered Offering; Withdrawal. The Company shall cause the managing
underwriter or underwriters of such proposed offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration to be included on the same terms and conditions as any similar securities of the Company or any other
selling security holder included therein and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method of distribution thereof. Any Selling Holder shall have the right to withdraw its request for
inclusion of its Registrable Securities in any Registration Statement pursuant to these provisions by giving written notice to the Company of its request to withdraw no less than 15 Business Days prior to the effective date of such Registration
Statement. 
 2.3 Payment of Registration Expenses. The Company shall pay all Registration Expenses in connection with
registration of Registrable Securities requested pursuant to this Section 2, and the Selling Holders shall pay the underwriting discounts, commissions, and transfer taxes, if any, relating to the sale of such Selling Holders’
Registrable Securities pursuant to this Section 2. 
 2.4 Underwriter Cut-Back; Priority in Piggy-Back
Registrations. If a registration pursuant to this Section 2 involves an underwritten offering of the securities so being registered, whether or not for sale for the account of the Company, the Company shall, if requested by any
Selling Holder and subject to the provisions of this Section 2, arrange for such underwriters to include all the Registrable Securities to be offered and sold by such Selling Holder among the securities to be distributed by such
underwriters. If the managing underwriter of such underwritten offering shall, in writing, inform the Selling Holders requesting such registration and the holders of any of the Company’s other securities which shall have exercised registration
rights in respect of such underwritten offering of its belief that the number of securities requested to be included in such registration would materially and adversely affect the success of such offering, then the Company shall be required to
include in such Registration Statement only the amount of securities that it is so advised should be included in such registration. In such event, 
 (a) in cases initially involving the registration for sale of securities for the Company’s own account, securities shall be registered in such offering in the following order of priority:
(i) first, the securities that the Company proposes to register and (ii) second, the securities that have been requested to be included in such registration by Selling Holders and by Persons entitled to exercise “piggy-back”
registration rights pursuant to contractual commitments of the Company (pro rata based on the amount of securities sought to be registered by such Selling Holders and such Persons; it being expressly understood that the Company may not reduce
the amount of Registrable Securities included in such registration unless it reduces the amount sought to be registered by such Persons on a pro rata basis); and 
 (b) in cases not initially involving the registration for sale of securities for the Company’s own account, securities shall be registered in such offering as follows: (i) first, the securities
that have been requested to be included in such registration by Selling Holders and other Persons entitled to exercise registration rights pursuant to contractual commitments (pro rata based on the amount of securities sought to be registered
by such Selling Holders and Persons); provided, that the Company may exclude securities sought to be registered by Selling Holders if (A) such registration is pursuant to a contractual “demand” registration right existing on
the date hereof and 

  
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such right expressly requires the Company to exclude such securities, and (B) all securities which the Company proposes to register are first excluded and (ii) second, the securities
which the Company proposes to register. 
 2.5 Underwriter Cut-Back; Shelf Registration Rights. The number of Registrable
Securities requested to be included in a Piggy-Back Registration is subject to reduction pursuant to Section 2.5 above. If as a result of such reduction (including pursuant to the proviso of Section 2.5(b)(i)), the holders of
Registrable Securities are unable to include such Registrable Securities, the Company shall file a shelf Registration Statement on a Form S-3 or successor form (or if not available, any other then available Form) with respect to such Registrable
Securities within 180 days, or such shorter time as the managing underwriter may agree, but in no event less than 30 days, of the effectiveness of such Registration Statement, and the Company shall use its commercially reasonable efforts to cause
such Registration Statement to be declared effective within 45 days of filing and to remain effective for a period of one year following the effective date. 
 2.6 Market Stand Off. Each Holder of Registrable Securities agrees, that if requested by the managing underwriter in connection with any underwritten public offering of the Company’s
securities, not to directly or indirectly offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of or otherwise dispose of or transfer any
Registrable Securities held by it for such period, not to exceed (i) 180 days following consummation of an underwritten initial public offering, or (ii) 90 days following the consummation of any other underwritten public offering.

 2.7 Registration Procedures. 
 (a) Responsibilities of the Company. In connection with any Piggy-Back Registration, the Company shall (provided, that it shall not be required to take any action pursuant to this
Section 2.7 that would, in a written opinion of counsel to the Company, violate applicable law): 
 (i) no fewer
than five Business Days prior to the initial filing of a Registration Statement or Prospectus and no fewer than two Business Days prior to the filing of any amendment or supplement thereto (including any document that would be incorporated or deemed
to be incorporated therein by reference), if requested, furnish to the Selling Holders, their counsel and the managing underwriters, if any, confidential copies of all such documents proposed to be filed, and cause the officers and directors of the
Company, counsel to the Company and independent certified public accountants to the Company to respond to such inquiries as shall be reasonably necessary, in the opinion of respective counsel to such underwriters, and to conduct a reasonable
investigation within the meaning of the Securities Act; provided, that the Company shall not be deemed to have kept a Registration Statement effective if it voluntarily takes or fails to take any action that results in Selling Holders covered
thereby not being able to sell such Registrable Securities pursuant to federal securities laws during that period; 
 (ii) Take
such action as may be necessary so that (i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or supplement thereto (and each report or other document incorporated herein by reference
in each case) complies in all material respects with the Securities Act and the Exchange Act and the respective rules and regulations thereunder, (ii) any Registration Statement and any amendment thereto does not, when it becomes effective,
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus forming part of any Registration Statement, and
any amendment 

  
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or supplement to such Prospectus, does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements, in the light of the
circumstances under which they were made, not misleading; 
 (iii) Use commercially reasonable efforts to prepare and file with
the SEC such amendments, including post-effective amendments, to each Registration Statement as may be necessary to keep such Registration Statement continuously effective for the amount of time that it is required to keep the Registration Statement
effective in order to consummate the offering which gave rise to the registration rights granted herein, but no longer than one year; cause the related Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be
filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such Registration
Statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented; 

(iv) Notify the Selling Holders, their counsel and the managing underwriters, if any, promptly (and in any case within two Business
Days), and (if requested by any such Person), confirm such notice in writing: 
 (A) (I) when a Prospectus or any Prospectus
supplement or post-effective amendment has been filed and (II) with respect to a Registration Statement or any post-effective amendment, when the same has become effective; 
 (B) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a Registration Statement or related Prospectus or for additional information;

 (C) of the issuance by the SEC, any state securities commission, any other governmental agency or any court of any stop
order or injunction suspending or enjoining the use or the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose; 
 (D) if at any time any of the representations and warranties of the Company contained in any securities distribution agreement (including any underwriting agreement) contemplated hereby cease to be true
and correct in all material respects; 
 (E) of the receipt by the Company of any notification with respect to the suspension
of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose; 

(F) of the happening of any event that makes any statement made in such Registration Statement or related Prospectus or any document
incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it
will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading, and that in the case of the Prospectus, it will not contain any
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and 

  
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 (G) of the Company’s reasonable determination that a post-effective amendment to such
Registration Statement would be appropriate; 
 (v) Use commercially reasonable efforts to avoid the issuance of, or, if
issued, obtain the withdrawal of any order enjoining or suspending the use or effectiveness of, a Registration Statement or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for
sale in any jurisdiction, at the earliest practicable moment; 
 (vi) If requested by the managing underwriters, if any,
reasonably in advance of the filing thereof, (A) promptly incorporate in a Prospectus supplement or post-effective amendment such information as the managing underwriters, if any, reasonably agree should be included therein, (B) make all
required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplement or post-effective amendment and
(C) supplement or make amendments to such Registration Statement; 
 (vii) Deliver to each Selling Holder, their counsel,
and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or supplement thereto as such Persons reasonably request; and the Company hereby consents to the
use of such Prospectus and each amendment or supplement thereto by each of the Selling Holders and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or
supplement thereto; 
 (viii) Prior to any public offering of Registrable Securities, cooperate with the Selling Holders of
Registrable Securities to be sold or tendered for, the underwriters, if any, and their respective counsel in connection with, the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for
offer and sale under the securities or “blue sky” laws of such jurisdictions within the United States as any Selling Holder or underwriter reasonably requests in writing; provided, that where Registrable Securities are offered other
than through an underwritten offering, the Company agrees to (i) cause its counsel to perform “blue sky” investigations and file registrations and qualifications required to be filed pursuant to this Section 2.7(a)(viii);
(ii) use commercially reasonable efforts to keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective; and (iii) use commercially
reasonable efforts to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by such Registration Statement; provided, that the Company shall not be
required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or subject the
Company to any tax in any such jurisdiction where it is not then so subject; 
 (ix) In connection with any sale or transfer of
Registrable Securities that will result in such securities no longer being Registrable Securities, cooperate with the Selling Holders and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates (with
appropriate CUSIP numbers) representing Registrable Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with 

  
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DTC, and to enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriters, if any, or Holders may request at least two Business Days
prior to any sale of Registrable Securities; 
 (x) Use commercially reasonable efforts to cause the offering of the
Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities within the United States, except as may be required as a consequence of the nature of such Selling
Holder’s business, in which case the Company shall cooperate in all reasonable respects at the expense of such Selling Holder with the filing of such Registration Statement and the granting of such approvals as may be necessary to enable the
seller or sellers thereof or the underwriters, if any, to consummate the disposition of such Registrable Securities; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then
so qualified or to take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or subject the Company to any tax in any such jurisdiction where it is not then so subject; 

(xi) Upon the occurrence of any event contemplated by Section 2.7(a)(iv)(F) or 2.7(a)(iv)(G), as promptly as
practicable, prepare a supplement or amendment, including, if appropriate, a post-effective amendment, to each Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by
reference, and file any other required document so that, as thereafter delivered, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading. If the Company notifies the Selling Holders of the occurrence of any event contemplated by Section 2.7(a)(iv)(F) or 2.7(a)(iv)(G) above,
the Selling Holders shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been made; 

(xii) Enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in underwritten
offerings) and take all such other reasonable actions in connection therewith (including those reasonably requested by the managing underwriters, if any), in order to expedite or facilitate the disposition of such Registrable Securities, and in such
connection, whether or not an underwriting agreement is entered into and whether or not the registration is an underwritten registration; 
 (A) make such representations and warranties to the Selling Holders of such Registrable Securities and the underwriters, if any, with respect to the business of the Company (including with respect to
businesses or assets acquired or to be acquired by it), and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested; 
 (B) obtain opinions
of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing or sole underwriters, if any, addressed to the underwriters, if any, covering the matters
customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such underwriters); 
 (C) obtain customary “comfort” letters and updates thereof (including, if such registration includes an underwritten public offering, a “bring down” comfort

  
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letter dated the date of the closing under the underwriting agreement) from the independent certified public accountants of the Company (and, if necessary, any other independent certified public
accountants of any business which may hereafter be acquired by the Company for which financial statements and financial data are required to be included in the Registration Statement), addressed to each of the underwriters, if any, such letters to
be in customary form and covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings and such other matters as reasonably required by the managing underwriter or underwriters and as
permitted by the Statement on Auditing Standards No. 72; 
 (D) if an underwriting agreement is entered into, the same
shall contain customary covenants on the part of the Company and will provide that the Company will indemnify the Holders of Registrable Securities included in the registration statement and any underwriter with respect thereto against certain
liabilities, including liabilities under the Securities Act; and 
 (E) deliver such documents and certificates as may be
reasonably requested by the managing underwriters, if any, to evidence the continued validity of the representations and warranties made pursuant to Section 2.7(a)(xii) above and to evidence compliance with any customary conditions
contained in the underwriting agreement or other agreement entered into by the Company; 
 (xiii) Make available for inspection
by one representative of the managing underwriter participating in any such disposition of Registrable Securities, if any, and any attorney, consultant or accountant retained by such underwriter (collectively, the “Inspectors”), at
the offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company (including with respect to business and assets acquired or to be acquired to the extent
that such information is available to the Company), and cause the officers, directors, agents and employees of the Company (including with respect to business and assets acquired or to be acquired to the extent that such information is available to
the Company) to supply all information in each case reasonably requested by any such Inspector in connection with such Registration; provided, the Company may first require that such Persons agree to keep confidential any non-public
information relating to the Company received by such Person and not disclose such information (other than to an Affiliate or prospective purchaser who agrees to respect the confidentiality provisions of this Section 2.7(a)(xiii)) until
such information has been made generally available to the public (other than as a result of a disclosure or failure to safeguard by such Inspector) unless the release of such information is required by law or necessary to respond to inquiries of
regulatory authorities (including the National Association of Insurance Commissioners, or similar organizations or their successors); without limiting the foregoing, no such information shall be used by such Inspector as the basis for any market
transactions in securities of the Company or its Subsidiaries, if any, in violation of law; 
 (xiv) Comply with all applicable
rules and regulations of the SEC and make generally available to their security holders earning statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the
Securities Act) no later than 45 days after the end of any 12-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are
sold to underwriters in a firm commitment or reasonable efforts underwritten offering and (ii) if not sold to underwriters in such an offering commencing on the first day of the first fiscal quarter after the effective date of a Registration
Statement, which statement shall cover said period, consistent with the requirements of Rule 158; and 

  
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 (xv) Use commercially reasonable efforts to take all other steps reasonably necessary to
effect the registration, offering and sale of the Registrable Securities covered by the Registration Statement. 
 (b)
Information Required by the Company. The Company may require each Selling Holder as to which any registration is being effected to furnish to the Company such information regarding the distribution of such Registrable Securities as is
required by law to be disclosed in the applicable Registration Statement, and the Company may exclude from such registration the Registrable Securities of any Selling Holder who unreasonably fails to furnish such information promptly after receiving
such request. 
 (c) Requests by the Holder. If any such Registration Statement refers to any Selling Holder by name or
otherwise as the holder of any securities of the Company, then such Selling Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Selling Holder, to the effect that
the holding by such Selling Holder of such securities is not to be construed as a recommendation by such Selling Holder of the investment quality of the Company’s securities covered thereby and that such holding does not imply that such Selling
Holder will assist in meeting any future financial requirements of the Company, or (ii) in the event that such reference to such Selling Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in
force, the deletion of the reference to such Selling Holder in any amendment or supplement to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 

(d) Indemnification. 
 (i) Indemnification by the Company. The Company agrees to indemnify and hold harmless each Selling Holder and each Person, if any, who controls such Selling Holder within the meaning of the
Securities Act or the Exchange Act (each Selling Holder and such controlling Persons are referred to collectively as the “Selling Holder Indemnified Parties”) from and against any losses, claims, damages or liabilities, joint
or several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases and sales of the Registrable Securities) to which each Selling Holder Indemnified Party may
become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in a
Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration, or arise out of, or are based upon, the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading, and shall reimburse, as incurred, the Selling Holder Indemnified Parties for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action in respect thereof; provided, that the Company shall not be liable in any such case to the extent that such loss, claim, damage or liability arises out of or is
based upon any untrue statement or alleged untrue statement or omission or alleged omission made in a Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration in
reliance upon and in conformity with written information pertaining to such Selling Holder and furnished to the Company by or on behalf of such Selling Holder specifically for inclusion therein. 

(ii) Indemnification by Selling Holder. The Selling Holders shall indemnify and hold harmless the Company and each Person, if
any, who controls the Company 

  
 11 

 
within the meaning of the Securities Act or the Exchange Act (the Company and such controlling Persons are referred to collectively as the “Company Indemnified Parties”
the from and against any losses, claims, damages or liabilities, joint or several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases and sales of the
Registrable Securities) to which each Company Indemnified Party may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in a Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration, or arise out of, or are based
upon, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, to the extent, but only to the extent, that such losses resulted solely from an untrue
statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact contained in or omitted from an information so furnished in writing by such Selling Holder to the Company expressly for use therein.

 2.8 Restrictions on Transfer. 
 (a) The Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to
any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities Act. A transferring Holder will cause any proposed purchaser,
pledgee, or transferee of the Registrable Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Agreement. 

(b) Each certificate or instrument representing (i) the Registrable Securities, and (ii) any other securities issued in respect
of the securities referenced in clause (i) upon any stock split, stock dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 2.8(c)) be stamped or
otherwise imprinted with a legend substantially in the following form: 
 THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED
FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF
SAID ACT. THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 

The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order
to implement the restrictions on transfer set forth in this Section 2.8. 
 (c) The Holder of each certificate
representing Restricted Securities, by acceptance thereof, agrees to comply in all respects with the provisions of this Section 2.8. Before any proposed sale, pledge or transfer of any Restricted Securities, unless there is in effect a
registration statement under the Act covering the proposed transaction, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge or transfer. Each such notice shall describe the manner and
circumstances of the proposed sale, pledge, or transfer in 

  
 12 

 
sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal
opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to
the effect that the proposed sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence
reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted
Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or “no action” letter
(x) in any transaction in compliance with SEC Rule 144 or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to
be subject to the terms of this Section 2.8. Each certificate or instrument evidencing the Restricted Securities transferred as above provided shall bear, except if such transfer is made pursuant to SEC Rule 144, the appropriate
restrictive legend set forth in Section 2.8(b), except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish
compliance with any provisions of the Securities Act. 
 (d) Notwithstanding the foregoing, prior to the IPO, a Holder shall not
be permitted to transfer Shares if, in the reasonable judgment of the Company, such transfer would reasonably be likely to cause the Company to be required to register a class of securities under Section 12(g) of the Exchange Act. 

3. Preemptive Rights. 

(a) In the event of any sale or issuance of equity securities of the Company or any securities (including rights, options or warrants)
convertible into or exchangeable or exercisable for equity securities of the Company (“collectively, “New Securities”), at any time and from time to time after the date hereof, except for issuances (each an
“Exempt Issuance”): 
 (i) of the Shares in accordance with the terms of the Purchase Agreement;

 (ii) up to 5,224,082 shares of Common Stock issued, or deemed issued, pursuant to the Company’s 2010 Omnibus Equity
Incentive Plan; 
 (iii) securities issued or issuable by reason of a dividend, stock split, split-up, reclassification or
reorganization or other similar event with respect to the capital stock of the Company approved by at least four-fifths of the members of the Board; 
 (iv) except in subsection (ii) above, to any employees or directors of, or consultants to, the Company pursuant to any plan approved by at least fourth-fifths of the members of the Board after the
date hereof; 
 (v) of securities issued by the Company in connection with any joint venture, strategic alliance, acquisition
or merger approved by at least four-fifths of the members of the Board; 
 (vi) of securities issued by the Company in
connection with any equipment leasing arrangement or debt financing from a bank or similar financial institution so long as such arrangement or financing, and the issuance of the securities with respect thereto, has been approved by at least
four-fifths of the members of the Board; or 

  
 13 

 (vii) shares of Common Stock issued in connection with an IPO; 

the Company shall first offer in writing (the “Preemptive Rights Notice”) to sell to each of the Investors (holding at such time
no less than 50% of (i) the shares of Common Stock purchased under the Purchase Agreement by such Investor or (ii) the shares of Common Stock issuable to such Investor under the Warrant) a portion of such New Securities equal to the
quotient obtained by dividing (x) the number of shares of Common Stock held by such Investor, by (y) the total number of outstanding shares of Common Stock of the Company (determined on an as converted or fully diluted basis). If all such
securities are not subscribed to by the Investors in writing delivered to the Company within five (5) Business Days after the date of delivery of the Preemptive Rights Notice, the unsubscribed New Securities will be reoffered on the terms set
forth above in writing (a “Reoffer Notice”) to the Investors who subscribed to the maximum number to which they were entitled pursuant to the Preemptive Rights Notice, and each such Investor shall be entitled to purchase a
pro rata share of such available New Securities by so notifying the Company in writing within three (3) Business Days after the date of delivery of the Reoffer Notice. 
 (b) Each Investor shall be entitled to purchase or receive such New Securities at the most favorable price and on the most favorable terms that such securities are to be offered to any other Person, and
the Company may not offer any New Securities to any Person at a price or on terms more favorable to the offerees thereof than those on which such New Securities were offered to the Investors, unless such New Securities are first offered to the
Investors at such more favorable price and on such more favorable terms; provided that, notwithstanding the foregoing, in the event that the Company is issuing more than one type or class of New Securities in connection with such issuance,
each Investor participating in such issuance shall be required to acquire such Investor’s pro rata portion (as determined in Section 3(a) above) of all such types and classes of New Securities. 

(c) Such securities specified in the Preemptive Rights Notice and the Reoffer Notice that are not purchased by the Investors pursuant to
the terms of this Section 3 may be issued and sold by the Company to the offerees thereof (on terms no less favorable than the terms offered in such notices) within one-hundred eighty (180) days of the date of the Preemptive Rights
Notice. Any securities not issued within such 180-day period will be subject to the provisions of this Section 3 upon subsequent issuance. 
 (d) Notwithstanding any provision hereof to the contrary, in lieu of complying with the provisions of this Section 3, the Company may elect to give notice to the Investors within thirty
(30) days after an issuance of New Securities. Such notice shall describe the type, price and terms of the New Securities. Each Investor shall have twenty (20) days from the date such notice is given to elect to purchase up to the number
of New Securities that would, if purchased by such Investor, maintain such Investor’s percentage ownership position, calculated as set forth in Section 3(a) before giving effect to the issuance of such New Securities. The closing of
such sale of New Securities shall occur within sixty (60) days of the date notice is given to the Investors. 
 (e) The
rights of all of the Investors under this Section 3 may be waived by Investors holding at least 70% of the Common Stock entitled to the benefit of this Section. 
 (f) The provisions of this Section 3 shall terminate upon an IPO. 

  
 14 

 (g) For the purposes of this Section 3, holders of Common Stock issued upon
conversion of a Warrant shall be deemed “Investors.” 
 4. Tag-Along 

4.1 Except as provided in Section 4.8, at any time that one or more Management Holders desires to transfer shares of Common
Stock of the Company representing more than half of one percent (1/2%) of the outstanding Common Stock of the Company to a third party or parties, the Management Holders shall first deliver written notice of their desire to do so (the
“Co-Sale Notice”) to the Company and each Investor. The Co-Sale Notice must specify: (i) the name and address of the Person to which the Management Holders propose to transfer the shares of Common Stock (the
“Offeror”), (ii) the number of shares of Common Stock the Management Holders propose to transfer (the “Co-Sale Offered Shares”), (iii) the total consideration to be delivered to the
Management Holders for the proposed transfer and the consideration for each Co-Sale Offered Share the Management Holders propose to transfer, and (iv) all other material terms and conditions of the proposed transaction. 

4.2 Each Investor may within the 30-day period after delivery of the Co-Sale Notice (the “Option Period”) notify
the Management Holders of such Investor’s desire to participate, on a pro-rata basis, in the sale of the Co-Sale Offered Shares and the number of shares of Common Stock such Investor desires to sell, at the price per share of Common Stock and
on the terms set forth in the Co-Sale Notice. Each Investor which has so notified the Management Holders within the Option Period of its desire to sell shares of Common Stock of the Company in the transaction (a “Participating
Investor”) shall be entitled to do so, subject to cut-back as set forth in Section 4.3. 
 4.3 The
Management Holders shall use commercially reasonable efforts to interest the Offeror in purchasing, in addition to the Co-Sale Offered Shares, the shares of Common Stock of the Company which the Participating Investors wish to sell. If the Offeror
does not wish to purchase all of the shares of Common Stock of the Company made available by the Management Holders and the Participating Investors (the Management Holders and the Participating Investors being hereinafter referred to collectively as
“Co-Sale Right Investors”), then each Co-Sale Right Investor shall be entitled to sell a portion of the shares of Common Stock being sold to the Offeror obtained by multiplying the number of shares of Common Stock that the Offeror
is willing to purchase by a fraction, the numerator of which is the number of shares of Common Stock such Co-Sale Right Investor has proposed to sell to the Offeror, and the denominator of which is the number of shares of Common Stock that all of
the Co-Sale Right Investors have proposed to sell to the Offeror. The transaction contemplated by the Co-Sale Notice shall be consummated not later than 90 days after the expiration of the Option Period. 

4.4 In connection with a co-sale pursuant to this Section 4, each Investor shall be required to make representations and
warranties regarding the Common Stock of the Company that such party transfers in such sale, including, without limitation, such party’s ownership of and authority to transfer such stock, the absence of any liens or other encumbrances on such
stock, and the compliance of such transfer with the federal and state securities laws and all other applicable laws and regulations. Each party hereto transferring shares of Common Stock of the Company pursuant to this Section 4 shall be
severally (but not jointly) liable for breaches of representations, warranties, covenants and agreements of such party. Such liability of each party hereto transferring shares of Common Stock of the Company pursuant to this Section 4
shall not exceed their respective pro rata portion of the proceeds of such co-sale. 

  
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 4.5 If the Management Holders wish to transfer any shares of Common Stock to the Offeror or
to any Person at a price or on terms and conditions which differ from those set forth in the Co-Sale Notice, or more than 90 days after the expiration of the Option Period, then as a condition precedent to such transaction, the Management Holders
must again comply with the procedures set forth in this Section 4. 
 4.6 Any sale made in violation of the
provisions of this Section 4 shall be void, and the proceeds of any sale made by the Management Holders in violation of the provisions of this Section 4 shall be deemed to be held in constructive trust by the Management
Holders in such amount as would have been due the Participating Investors if the Management Holders had complied with this Section 4. 
 4.7 The rights granted pursuant to this Section 4 shall terminate immediately prior to the consummation of the Company’s IPO. 

4.8 The following transfers of Common Stock of the Company shall not be subject to the co-sale rights of this Section 4:
transfers (i) to a Related Party of a Management Holder; or (ii) from Management Holder to any other Management Holder, provided, however, that in connection with any transfer contemplated in this Section 4.8, in each case, the
transferee shall hold such Common Stock of the Company subject to the same restrictions applicable to its transferor; shall agree to be bound by the terms of this Agreement; and shall not make any further transfer that would not have been permitted
pursuant to this Section 4.8 by the original Management Holder of such Common Stock. 
 4.9 For the purposes of this
Section 4, holders of Common Stock issued upon conversion of a Warrant shall be deemed “Investors.” 
 5. Drag-Along
Rights. 
 5.1 In the event that a Sale of the Company is approved by (a) at least 50% of the outstanding shares of the
Company’s Common Stock (the “Approving Holders”) or (b) at least four-fifths of the members of the Board, then each Stockholder shall participate in such transaction, not object in any way thereto, be required to
sell all of the shares of capital stock of the Company held by such Stockholder and otherwise take all other action as set forth below (the “Drag Along Sale”). If the Drag Along Sale is structured as a (1) merger,
consolidation or other transaction requiring a vote of stockholders, each Stockholder shall vote all of such Stockholder’s shares in favor of the merger or consolidation and otherwise waive (and does hereby waive) any dissenters’ rights,
appraisal rights or similar rights in connection with such merger or consolidation or (2) sale of stock, each Stockholder holding capital stock of the Company shall agree to sell all of such Stockholder’s capital stock and rights to
acquire capital stock on the terms and conditions approved by the Approving Holders or the Board, as applicable. Each seller of capital stock of the Company in such Drag Along Sale (i) shall be subject to the same terms and conditions of sale
(provided that the amount of consideration to be received may differ by class consistent with the terms and conditions of the Company’s Articles of Incorporation) and (ii) shall execute such documents and take such actions as may be
reasonably required by the Approving Holders, or the Board, as applicable. 
 5.2 The Company shall (including at the request of
the Approving Holders) provide each party hereto with written notice (the “Drag Notice”) of a Drag Along Sale as soon as reasonably practicable prior to the date of consummation of such sale (the “Drag Along Sale
Date”). Each Drag Notice shall set forth, to the best of the Company’s knowledge: (i) the identity of the third party transferee in the Drag Along Sale, (ii) the expected price and the other general terms of the proposed
transfer and (iii) the anticipated Drag Along Sale Date. 

  
 16 

 5.3 The provisions of this Section 5 shall apply regardless of the form of
consideration received in the Drag Along Sale, and (i) upon the consummation of the Drag Along Sale, each holder of Common Stock shall receive the same form of consideration and the same amount of consideration per share (subject to any pro
rata required escrows of a portion of the consideration as determined by the Approving Holders or the Board, as applicable); (ii) if any holders of Common Stock are given an option as to the form and amount of consideration to be received, each
holder of Common Stock shall be given the same option; (iii) unless waived by holders of at least 70% of the then outstanding Preferred Stock, each holder of Preferred Stock shall receive its liquidation preference in cash; provided that if
waived, (A) such class of Preferred Stock shall receive the same form of consideration and the same amount of consideration per share, and (B) if any holders of the Preferred Stock are given an option as to the form and amount of
consideration to be received, each holder of such Preferred Stock shall be given the same option; and (iv) any non cash consideration received by a class of capital stock of the Company pursuant to the terms of the Drag Along Sale shall be
allocated among the transferors of such class of stock pro rata based upon each transferor’s percentage ownership of such class of shares sold in the Drag Along Sale. 
 5.4 In connection with a Drag Along Sale, each party hereto shall be required to make representations and warranties regarding the capital stock of the Company that such party transfers in such sale,
including, without limitation, such party’s ownership of and authority to transfer such stock, the absence of any liens or other encumbrances on such stock, and the compliance of such transfer with the federal and state securities laws and all
other applicable laws and regulations. Each party hereto transferring shares of Common Stock of the Company pursuant to this Section 5 shall be, on a pro rata basis (based on the number of shares of Common Stock of the Company on an
as-converted basis), severally (but not jointly) liable for breaches of representations, warranties, covenants and agreements of or (in the case of representations and warranties) pertaining to the Company, and for indemnification obligations
arising out of or relating to any such breach or otherwise pertaining to the Company (other than any such obligations that relate specifically to a particular party, such as indemnification with respect to representations and warranties given by
such party regarding such party’s title to and ownership of such stock). Such liability of each party hereto transferring shares of Common Stock of the Company pursuant to this Section 5 shall not exceed their respective pro rata
portion of the proceeds of such Drag Along Sale. 
 5.5 The rights granted pursuant to this Section 5 shall
terminate immediately prior to the consummation of the Company’s IPO. 
 6. Conversion. In the event the Board determines it to be
in the best interests of the Company that the Company be converted or migrate to a Delaware corporation, the Board may, in its reasonable business judgment, convert or migrate the Company into a Delaware corporation (by merger, conversion or
otherwise) (an “Entity Change”) at any time; provided however, in connection with such Entity Change, the terms of the Company’s certificate of incorporation following the Entity Change shall be materially the same in
all respects as the Company’s articles of incorporation immediately prior to the Entity Change. The Stockholders agree to take such action to approve an Entity Change as requested by the Board. 

7. Board Matters. 
 7.1
Board Composition. Each party hereto agrees to vote all of such Stockholder’s shares of voting securities in the Company, whether now owned or hereafter acquired or which such party

  
 17 

 
may be empowered to vote, and to take such other action with respect thereto (including, without limitation, the giving of consents), from time to time and at all times, in whatever manner shall
be necessary to ensure (i) the Board shall be comprised of five (5) individuals (except as contemplated by Section 7.2), and (ii) that all of the following Persons shall serve from time to time as directors of the Company:

 (a) L. Charles Moncla, Jr. (provided he is an executive officer of the Company or owns any shares of capital stock of the
Company); 
 (b) one (1) individual designated by the holders of a majority in interest of the Common Stock held by the
Management Holders, such individual to be determined by the Management Holders following the date hereof; 
 (c) two
(2) individuals designated by the holders of a majority in interest of the shares of Common Stock purchased under the Purchase Agreement by the Investors (the “Preferred Directors”), which individuals shall initially be
José Feliciano and Colin Leonard; 
 (d) one (1) individual designated by L. Charles
Moncla, Jr. and approved by holders of a majority in interest of the Stock Units, such approval not to be unreasonably withheld, which individual shall initially be Daniel T. Layton (the
“5th Director”); provided however, that from and after the date that is one year following the date of this Agreement, the holders of a majority in interest of the Stock Units may either re-designate the 5th Director or designate a new 5th Director which director shall be subject to the consent of the
remaining members of the Board (which consent shall not be unreasonably withheld). If a majority of the remaining members of the Board do not approve the initial new 5th Director designated by the holders of a majority in interest of the Stock
Units, such holders shall designate a second 5th Director. If the second 5th director is not approved by a majority of the remaining members of the Board, then such holders shall submit a list of four potential 5th directors (which list may include
the first two 5th Directors previously rejected by the members of the Board), and a majority of the remaining members of the Board shall select the 5th Director from such list. 

7.2 Ex-Officio Board Members. In addition to the composition of the Board as provided in Section 7.1, the Board shall
include (a) for one year following the date of this Agreement, up to six (6) and (b) thereafter, up to four (4), ex-officio members who will participate in Board meetings and discussions but have no voting or other rights of the
members of the Board; provided however, such ex-officio members shall be entitled to receive compensation and other benefits received by members of the Board. Ex-officio members shall be designated by the Board and shall serve one (1) year
terms; provided, that the Preferred Directors shall be entitled to designate one (1) ex-officio member. The initial ex-officio members of the Board shall be Mark D. Mann, Crawford S. Shaw, Joel Wehner, Richard L. Crandall and Joseph A.
McDermott, Jr. The ex-officio member of the Board designated by the Preferred Directors will be designated in writing following the date hereof. 
 7.3 Board Committees. Committees of the Board shall be established, and the membership of any such committees shall be approved, by at least four-fifths of the members of the Board. 

7.4 Termination. The rights granted pursuant to this Section 7 shall terminate immediately prior to the consummation
of a Qualified IPO; provided however, immediately prior to such Qualified IPO, the Stockholders will take such actions to cause the Board to increase so that the Board is comprised of the then existing Board and the then existing ex-officio members
of the Board. 

  
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 8. Information Rights. The Company shall promptly provide to the Investors (holding no less
that 50% of the shares of Common Stock purchased under the Purchase Agreement by such Investor) the information the Company is required to deliver to holders of the Notes (as defined in the Purchase Agreement) issued pursuant to the Indenture.

 9. Prohibition on Transfer of Shares. 
 9.1 In connection with the Purchase Agreement, the Investors acquired a Stock Unit (as defined in the Purchase Agreement) consisting of shares of Common Stock and shares of Preferred Stock. Except
pursuant to (a) a redemption of the Preferred Stock by the Company pursuant to the Company’s Articles of Incorporation or (b) the sale of Common Stock by Investors following an IPO, the Investor shall not transfer any shares of
Preferred Stock comprising the Stock Unit without also transferring a proportionate number of shares of the Common Stock comprising the Stock Unit, and vice-versa. 
 9.2 Notwithstanding any other provision of this Agreement, no Investor may at any time transfer any Shares to any Person that engages in any business activity that is in competition, directly or
indirectly, with the products or services being developed, offered, marketed, sold or licensed by the Company. The determination of whether any proposed transferee engages in any business activity that is in competition with those activities of the
Company shall be made by the Board of the Company in good faith. 
 9.3 As long as Moncla Platinum Investment Group, LLC (or its
permitted successor or assignee) holds the Common Stock purchased under the Purchase Agreement, L. Charles Moncla, Jr. shall remain the manager of Moncla Platinum Investment Group, LLC (or its permitted successor or assignee). 

10. Warrant Ratchet. In the event the holders of Warrants become entitled, pursuant to Section 8.2 of the Warrant Agreement, to purchase upon
exercise of the Warrants additional shares of Common Stock due to the failure of a Liquidity Event (as defined in the Warrant Agreement) to occur within the time period set forth in the Warrant Agreement (a “Warrant Ratchet
Event”), the Company shall, upon and as of the date of such Warrant Ratchet Event, issue to the Investors, for no additional consideration, such additional shares of Common Stock as are necessary for such Investors to retain the same
percentage ownership of Common Stock, calculated on a fully-diluted basis, as the Investors held immediately prior to such Warrant Ratchet Event. The intent of this Section is to ensure that the dilution that would occur as a result of such Warrant
Ratchet Event will be borne by the Stockholders other than the Investors and the holders of the Warrants. 
 11. Employees; Directors;
Ex-Officio Members. To the extent that, on or after the date hereof, any employee, member of the Board or ex-officio member of the Board holds a beneficial interest in any Common Stock or in any securities (including rights, options or warrants)
convertible into or exchangeable or exercisable for equity securities of the Company, the Company shall cause such employee, member of the Board or ex-officio member of the Board to immediately execute and otherwise agree to be bound by the terms of
this Agreement and a Restricted Stock Agreement (in form and substance satisfactory to at least four-fifths of the members of the Board). Notwithstanding the foregoing, no Affiliate of a holder of Preferred Stock shall be obligated to execute a
Restricted Stock Agreement solely by virtue of such Affiliate serving as a member or ex-officio member of the Board. 

  
 19 

 12. Miscellaneous. 
 12.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns
of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

12.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware as applied to
agreements among Delaware State residents entered into and to be performed entirely within the State of Delaware. 
 12.3
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any signatures delivered hereunder by a party by
facsimile transmission or electronic mail shall be deemed an original signature hereto. 
 12.4 Titles and Subtitles. The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
 12.5 Notices. Any notice or other communication required or permitted to be provided hereunder shall be in writing and shall be delivered in person or by first class mail (registered or certified,
return receipt requested), facsimile, electronic mail, or overnight air courier guaranteeing next day delivery. The address for such notices and communications shall be as follows: 

If to the Company: 
 Platinum Energy Solutions, Inc. 
 2100 West Loop South, Suite 1601 

Houston, TX 77027 
 Attention: Chief Financial Officer 
 Fax: 713-590-2827 

E-mail: clegler@platinumenergysolutions.com 
 with copies to (which shall not constitute delivery): 
 Kelley
Drye & Warren LLP 
 33 West Wacker Drive, 26th 

Chicago, IL 60606 
 Attention: Timothy R. Lavender, Esq. 
 Fax: 312-857-7095 

E-mail: tlavender@kelleydrye.com 
 If to a Stockholder: 
 To the address set forth for such Stockholder on
Schedule A attached hereto or such other address as may be designated in writing hereafter, in the same manner, by such person. 
 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited
in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; when sent, if sent via electronic mail to the address set forth 

  
 20 

 
above, provided that a mail delivery failure or similar message is not received by the sender; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery. Failure to provide a notice or communication to one party hereto or any defect in it shall not affect its sufficiency with respect to other parties hereto 

12.6 Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 12.7 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company, the holders of a majority of the shares of Common Stock purchased under the Purchase Agreement by the Investors, and holders of at least 70% of the shares of Common Stock
of the Company; provided however, to the extent any amendment adversely effects a particular group of Stockholders in a manner materially different than all of the Stockholders, the consent of holders of a majority in interest of the Common Stock
held by such group shall be required. Notwithstanding the foregoing, this Agreement may be amended with only the written consent of the Company for the sole purpose of including additional Stockholders as contemplated by Section 11.9.

 12.8 Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such
provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision was so excluded and shall be enforceable in accordance with its terms. 

12.9 Additional Stockholders. Notwithstanding anything to the contrary contained herein, as a condition to issuing any shares of
capital stock, the Company shall require the party acquiring such shares to become a party to this Agreement as a Stockholder by executing and delivering an additional counterpart signature page to this Agreement. 

12.10 Entire Agreement. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK] 

  
 21 

 IN WITNESS WHEREOF, the parties have executed this Stockholders Agreement as of the
date first above written. 
  

					
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	 /s/ J. Clarke Legler, II

		 	Name:	 	 J. Clarke Legler, II

		 	Title:	 	 Chief Financial Officer

  
 [Signature
page to Stockholders Agreement] 

 
									
	INVESTOR:
	
	Clearlake Capital Partners II (Master), L.P.
			
		 	By:	 	Clearlake Capital Partners II GP, L.P.
		 	Its:	 	General Partner
			
		 	By:	 	Clearlake Capital Partners, LLC
		 	Its:	 	General Partner
			
		 	By:	 	CCG Operations, LLC
		 	Its:	 	Managing Member
				
		 		 	By:	 	 José E. Feliciano

		 		 		 	Name:	 	 José E. Feliciano

		 		 		 	Title:	 	 Managing Member

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	INVESTOR:
	
	Moncla Platinum Investment Group, LLC
		
	By:	 	 /s/ L. Charles Moncla, Jr.

		 	Name:	 	 L. Charles Moncla, Jr.

		 	Title:	 	 Manager

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	INVESTOR:
	
	HedgeHog Capital LLC
		
	By:	 	 /s/ David Lu

		 	Name:	 	 David Lu

		 	Title:	 	 Managing Member

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	INVESTOR:
	
	CQS DO S1 Limited
		
	By:	 	 /s/ Kevin Jones

		 	Name:	 	 Kevin Jones

		 	Title:	 	 General Partner

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	INVESTOR:
	
	Alpine Associates, A Limited Partnership
		
	By:	 	 /s/ Gary Moorman

		 	Name:	 	 Gary Moorman

		 	Title:	 	 Senior Analyst

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	INVESTOR:
	
	Third Avenue Trust on behalf of Third Avenue Focus Credit Fund
		
	By:	 	 /s/ Vincent J. Degan

		 	Name:	 	 Vincent J. Degan

		 	Title:	 	 Chief Financial Officer

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	STOCKHOLDERS:
	
	 /s/ L. Charles Moncla, Jr.

	L. Charles Moncla, Jr.
	
	 /s/ Rodney Dartez

	Rodney Dartez
	
	 /s/ Milburn J. Ducote

	Milburn J. Ducote
	
	 /s/ Christine P. Spencer

	Christine P. Spencer
	
	2153850 Ontario, Ltd.
		
	By:	 	 Philip Johnston

		 	Name:	 	 Philip Johnston

		 	Title:	 	 President

	
	 /s/ Robert E. Chamberlain, Jr.

	Robert E. Chamberlain, Jr.
	
	 /s/ Martha Derrick

	Martha Derrick
	
	 /s/ Joe A. McDermott

	Joe A. McDermott
	
	 /s/ Marvel K. Mann

	Marvel K. Mann

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	STOCKHOLDERS:
	
	 /s/ James Scott Mann, IV

	James Scott Mann, IV
	
	 /s/ John Dinn Mann

	John Dinn Mann
	
	 /s/ Mark David Mann

	Mark David Mann
	
	Platinum Investment Partners, LLC
		
	By:	 	 /s/ Daniel T. Layton

		 	Name:	 	 Daniel T. Layton

		 	Title:	 	 Manager

	
	 /s/ Robert L. Sonfield, Jr.

	Robert Sonfield
	
	 /s/ Crawford Shaw

	Crawford Shaw
	
	 /s/ Richard Crandall

	Richard Crandall
	
	 /s/ Joel Wehner

	Joel Wehner

  

[Counterpart signature page to Stockholders Agreement] 

 
					
	STOCKHOLDERS:
	
	Global Hunter Securities, LLC
		
	By:	 	 /s/ Richard A. Goldenberg

		 	Name:	 	 Richard A. Goldenberg

		 	Title:	 	 Head of Global Debt Capital Markets

	
	Knight Capital Holdings LLC
		
	By:	 	 /s/ David A. Barkus

		 	Name:	 	 David A. Barkus

		 	Title:	 	 Managing Director

  

[Counterpart signature page to Stockholders Agreement] 

 STOCKHOLDERS AGREEMENT ADDENDUM 

The undersigned, as a holder of Common Stock of Platinum Energy Solutions, Inc. (through assignment from Platinum Investment Partners,
LLC), hereby agrees to be bound by, and receive all the benefits of, the terms and conditions of that certain Stockholders Agreement dated March 3, 2011, and shall be a “Stockholder” thereunder. 

Dated as of: March 24, 2011 
  

					
	Layton Corporation
		
	By:	 	/s/ Daniel T. Layton
		 	Name:	 	 Daniel T. Layton

		 	Title:	 	 President

  

					
	 Accepted as of March 24, 2011
  

Platinum Energy Solutions, Inc.

		
	By:	 	/s/ J. Clarke Legler, II
		 	Name:	 	 J. Clarke Legler, II

		 	Title:	 	 Chief Financial Officer

 STOCKHOLDERS AGREEMENT ADDENDUM 

The undersigned, as a holder of Common Stock of Platinum Energy Solutions, Inc. (through assignment from Platinum Investment Partners,
LLC), hereby agrees to be bound by, and receive all the benefits of, the terms and conditions of that certain Stockholders Agreement dated March 3, 2011, and shall be a “Stockholder” thereunder. 

Dated as of: March 24, 2011 
  

					
	StarStream Capital LLC
		
	By:	 	/s/ Mark D. Mann
		 	Name:	 	 Mark D. Mann

		 	Title:	 	 Manager

  

					
	 Accepted as of March 24, 2011
  

Platinum Energy Solutions, Inc.

		
	By:	 	/s/ J. Clarke Legler, II
		 	Name:	 	 J. Clarke Legler, II

		 	Title:	 	 Chief Financial Officer

 JOINDER TO STOCKHOLDERS’ AGREEMENT 

This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the
“Joining Party”) in accordance with the Stockholders’ Agreement dated as of March 3, 2011 (the “Stockholders’ Agreement”) among Platinum Energy Solutions, Inc. and the other parties named therein, as
the same may be amended from time to time. Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in the Stockholders’ Agreement. 
 The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party to the Stockholders’ Agreement as of the
date hereof and shall have all of the rights and obligations of a “Stockholder” and an “Investor” thereunder as if it had executed the Stockholders’ Agreement. The Joining Party hereby ratifies, as of the date hereof, and
agrees to be bound by, all of the terms, provisions and conditions contained in the Stockholders’ Agreement. 
 IN WITNESS
WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 
 Date: March 4, 2011 

 

	
	/s/ J. Clarke Legler, II
	J. Clarke Legler, II

 JOINDER TO STOCKHOLDERS’ AGREEMENT 

This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the
“Joining Party”) in accordance with the Stockholders’ Agreement dated as of March 3, 2011 (the “Stockholders’ Agreement”) among Platinum Energy Solutions, Inc. and the other parties named therein, as
the same may be amended from time to time. Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in the Stockholders’ Agreement. 
 The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party to the Stockholders’ Agreement as of the
date hereof and shall have all of the rights and obligations of a “Stockholder” and an “Investor” thereunder as if it had executed the Stockholders’ Agreement. The Joining Party hereby ratifies, as of the date hereof, and
agrees to be bound by, all of the terms, provisions and conditions contained in the Stockholders’ Agreement. 
 IN WITNESS
WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 
 Date: April 27, 2011 

 

	
	/s/ Michael H. Thompson
	Michael H. Thompson

 JOINDER TO STOCKHOLDERS’ AGREEMENT 

This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the
“Joining Party”) in accordance with the Stockholders’ Agreement dated as of March 3, 2011 (the “Stockholders’ Agreement”) among Platinum Energy Solutions, Inc. and the other parties named therein, as
the same may be amended from time to time. Capitalized terms used, but not defined, herein shall have the meaning ascribed to such terms in the Stockholders’ Agreement. 
 The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party to the Stockholders’ Agreement as of the
date hereof and shall have all of the rights and obligations of a “Stockholder” and an “Investor” thereunder as if it had executed the Stockholders’ Agreement. The Joining Party hereby ratifies, as of the date hereof, and
agrees to be bound by, all of the terms, provisions and conditions contained in the Stockholders’ Agreement. 
 IN WITNESS
WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 
 Date: April 25, 2011 

 

	
	/s/ Joseph M. White
	Joseph M. White

 Schedule A 
 Schedule of Investors: 
  

									
	 Investor
	  	Common Stock	 	  	Preferred Stock	 
	 Clearlake Capital Partners II (Master), L.P.

Attn: José E. Feliciano

233 Wilshire Blvd., Suite 800

Santa Monica, CA 90401
	  	 	28,453,760	  	  	 	11,500	  
	 Moncla Platinum Investment Group, LLC

Attn: Charlie Moncla

PO Box 131368
 Houston, TX 77219
	  	 	8,659,840	  	  	 	3,500	  
	 HedgeHog Capital LLC

1117 E. Putnam Ave., #320

Riverside, CT 06878
	  	 	1,855,680	  	  	 	750	  
	 CQS DO S1 Limited

c/o CQS (UIC) LLP

Attn: Corporate Actions

5th Floor, 33 Grosvenor Place

London, SWIX 7HY, UK
	  	 	3,711,360	  	  	 	1,500	  
	 Alpine Associates, A Limited Partnership

Attn: Gary Moorman

100 Union Ave.
 Cresskill, NJ 07626
	  	 	618,560	  	  	 	250	  
	 Third Avenue Trust on behalf of Third Avenue Focus Credit Fund

Attn: General Counsel

622 Third Avenue, 32nd Floor
 New York, NY 10017
	  	 	6,185,600	  	  	 	2,500	  

  
 2 

 Schedule of other Stockholders: 

 

					
	 Stockholder
	  	Common Stock	 
	 L. Charles Moncla, Jr.
	  	 	18,673,469	  
	 Rodney Dartez
	  	 	660,000	  
	 Milburn J. Ducote
	  	 	660,000	  
	 Christine P. Spencer
	  	 	10,000	  
	 2153850 Ontario, Ltd.
	  	 	100,000	  
	 Robert E. Chamberlain, Jr.
	  	 	100,000	  
	 Martha Derrick
	  	 	10,000	  
	 Joe A. McDermott
	  	 	10,000	  
	 Marvel K. Mann, Her Separate Property
	  	 	1,155,000	  
	 James Scott Mann, IV
	  	 	330,000	  
	 John Dinn Mann
	  	 	330,000	  
	 Mark David Mann
	  	 	330,000	  
	 Robert Sonfield
	  	 	100,000	  
	 Crawford Shaw
	  	 	10,000	  
	 Richard J. Crandall
	  	 	10,000	  
	 Joel Wehner
	  	 	10,000	  
	 Global Hunter Securities, LLC
	  	 	1,213,775	  
	 Knight Capital Holdings LLC
	  	 	653,571	  
	 Layton Corporation
	  	 	1,000,000	  
	 Star Stream Capital LLC
	  	 	1,155,000	  
	 J. Clark Legler, II
	  	 	1,400,523	  
	 Michael H. Thompson
	  	 	60,000	  
	 Joseph M. White
	  	 	60,000	  

  
 32010 Omnibus Equity Incentive Plan

 Exhibit 10.11 
 PLATINUM ENERGY SOLUTIONS, INC. 
 2010 OMNIBUS EQUITY INCENTIVE PLAN

  

	1.	Purpose of this Plan 

This Plan has been adopted to promote the interests of the Corporation and its stockholders by strengthening the ability of the Company to
attract, motivate and retain directors, employees and others in a position to affect the financial and operational performance of the Company. This plan document replaces the Platinum Energy Solutions, Inc. Amended and Restated 2010 Directors,
Officers and Consultants Stock Option, Stock Warrant and Stock Award Plan in its entirety. 
  

	2.	Definitions 

 Wherever the
following capitalized terms are used in this Plan, they shall have the meanings specified below: 
 (a) “Affiliate,”
and correlative terms, means, with respect to any Person, (i) any other Person that directly or indirectly Controls, is Controlled by or is under common Control with such Person or (ii) any director, officer, partner or employee of such
Person or any Person specified in clause (i) above. 
 (b) “Award” means an Option Award, a Stock Appreciation
Right Award, a Restricted Stock Award, a Restricted Stock Unit Award, a Phantom Stock Award, a Performance Share Award, a Performance Unit Award, a Substitute Award, a Dividend Equivalent or other award granted under this Plan. 

(c) “Award Agreement” means a written agreement or instrument evidencing an Award. 

(d) “Board” means the Board of Directors of the Corporation. 

(e) “Cause” means (unless otherwise defined in a Participant’s employment agreement with a Company or an Award
Agreement) any of the following: 
 (A) the Participant’s failure or refusal, after written notice thereof
and failure to cure within five (5) days thereafter, to perform specific directives from the Board or the Participant’s supervisor, as applicable, which are consistent with the scope and nature of Executive’s duties and
responsibilities; 
 (B) dishonesty or disloyalty of the Participant which directly or indirectly has an adverse
affect on the Company; 
 (C) habitual drunkenness or use of drugs which interferes with the performance of the
Participant’s duties and obligations to the Company; 
 (D) the Participant’s commission of any crime
involving moral turpitude, fraud, defalcation or misrepresentation; or 

 (E) any negligent, intentional or willful conduct of the Participant which
is demonstrably injurious to the Company, monetarily or otherwise. 
 (f) “CEO” means the Chief Executive Officer of
the Corporation. 
 (g) A “Change in Control” shall be deemed to occur if any of the following events or circumstances
that also constitutes a “change in the ownership or effective control” of the Corporation or a “change in the ownership of a substantial portion of the assets” of the Corporation, in each case, within the meaning of
Section 409A of the Code and the regulations thereunder, shall occur: 
 (i) any “person” or
“group” within the meaning of Section 13(d) or 14(d)(2) of the Exchange Act becomes the beneficial owner of 50% or more of the then outstanding Common Stock or 50% or more of the then outstanding voting securities of the Corporation;

 (ii) any “person” or “group” within the meaning of Section 13(d) or 14(d)(2) of the
Exchange Act acquires, by proxy or otherwise, the right to vote on any matter or question with respect to 50% or more of the then outstanding Common Stock or 50% or more of the combined voting power of the then outstanding voting securities of the
Corporation; 
 (iii) Present Directors and New Directors cease for any reason to constitute a majority of the
Board (and, for purposes of this clause (iii), “Present Directors” shall mean individuals who, at the beginning of any consecutive twenty four month period, were members of the Board and “New Directors” shall mean individuals
whose election by the Board or whose nomination for election as directors by the Corporation’s stockholders was approved by at least two-thirds of the Present Directors and New Directors then in office); 

(iv) the consummation of: 
 (A) any reorganization, restructuring, recapitalization, reincorporation, merger, consolidation or similar form of corporate transaction involving the Corporation (a “Business Combination”)
unless, following such Business Combination, (1) all or substantially all of the Persons who were the beneficial owners of Common Stock and voting securities of the Corporation outstanding immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the common equity securities, and more than 50% the combined voting power of the voting securities of the entity resulting from such Business Combination (which phrase, for purposes of this
clause (v), includes the Corporation, if it is such resulting entity, and an entity that, as a result of such Business Combination, owns the Corporation or all or substantially all of the consolidated assets of the Corporation either directly or
through one or more subsidiaries) outstanding after such Business Combination in substantially the same proportions as their ownership of Common Stock and combined voting power of voting securities of the Corporation, respectively, outstanding
immediately prior 

  
 2 

 
to such Business Combination, (2) no “person” or “group” within the meaning of Section 13(d) or 14(d)(2) of the Exchange Act (excluding (x) any entity resulting
from such Business Combination and (y) any employee benefit plan (or related trust) of any entity resulting from such Business Combination) beneficially owns 50% or more of the common equity securities, or 50% or more of the combined voting
power of the voting securities, of the entity resulting from such Business Combination outstanding after such Business Combination (except to the extent that such beneficial ownership existed prior to such Business Combination with respect to Common
Stock and voting securities of the Corporation outstanding immediately prior to such Business Combination) and (3) at least a majority of the members of the board of directors (or similar governing body) of the entity resulting from such
Business Combination were members of the Board at the earliest of the time of the execution of the initial agreement providing for such Business Combination, the time of the action of the Board approving such Business Combination or, if such
approval is required or sought, at the time of action of the stockholders approving such Business Combination; or 
 (B) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or a majority of the consolidated assets of the Corporation, whether held directly or
indirectly through one or more subsidiaries (excluding any pledge, mortgage, grant of security interest, sale-leaseback or similar transaction, but including any foreclosure sale). 

Notwithstanding anything contained herein to the contrary, a “Change in Control” shall not be deemed to have occurred:

 (w) by reason of implementation of this Plan or any amendment hereto; 

(x) pursuant to the preceding clause (i) or (ii) solely because 50% or more of the then outstanding Common Stock
or the then outstanding voting securities of the Corporation is or becomes beneficially owned or is or becomes directly or indirectly held or acquired by one or more employee benefit plans (or related trusts) maintained by the Company. 

For purposes of this definition, references to “beneficial owner” and correlative phrases shall have the same meanings as set forth in Rule
13d-3 under the Exchange Act (except that ownership by underwriters (including when acting as initial purchasers in a private offering) solely for purposes of a distribution or offering shall not be deemed to be “beneficial ownership”),
references to “affiliate” and “associates” shall have the same meanings as set forth under the Exchange Act and references to the Exchange Act shall mean the Exchange Act as in effect on January 31, 2011. 

(h) “Code” means the Internal Revenue Code of 1986, as amended, and the rules, regulations and official guidance thereunder.

  
 3 

 (i) “Committee” means the Board or a committee designated by the Board.

 (j) “Common Stock” means the common stock, par value $0.001 per share, of the Corporation or such other securities
of the Corporation as may be substituted therefor pursuant to the provisions hereof. 
 (k) “Company” means the
Corporation, the Subsidiaries and its and their controlled Affiliates, individually or collectively as may be appropriate in the applicable circumstances. 
 (l) “Consultant” means a consultant, advisor, representative, agent or other independent contractor who performs services (other than as an Employee) for the Company. 

(m) “Control,” and correlative words, with respect to any Person, mean the ability of another Person to control or direct the
management, actions or policies of such Person, whether by ownership of voting securities, by contract or otherwise. 
 (n)
“Corporate Event” has the meaning set forth in Section 3.3. 
 (o) “Corporation” means Platinum Energy
Solutions, Inc. and such successor as may be substituted therefor pursuant to the provisions hereof. 
 (p) “Detrimental
Conduct” means activities which have been, are or would reasonably be expected to be detrimental to the interests of the Company, as determined in the sole and good faith judgment of the Board. Such activities include unlawful conduct under
securities, antitrust, tax or other laws, improper disclosure or use of confidential or proprietary information or trade secrets, competition with or improper taking of a corporate opportunity of any business of the Company, failure to cooperate in
any investigation or legal proceeding, or misappropriation of property. 
 (q) “Disability,” unless otherwise provided
in the applicable Award Agreement, means a Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less
than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the service provider’s employer, in each case, as determined in accordance with rules
established by the Committee and in compliance with Section 409A. 
 (r) “Dividend Equivalent” means an amount
equal to cash dividends and distributions that are payable during the period beginning on the day after the Grant Date and ending on the Exercise Date in respect of the applicable Award. 

(s) “Effective Date” means the date of adoption of this Plan by the Board. 

(t) “Eligible Person” means any Employee and, in the case of Awards other than Incentive Stock Option Awards, (i) any
Consultant who is specifically identified by the Committee and (ii) any Non-Employee Director. 

  
 4 

 (u) “Employee” means any Person who is employed by the Company. 

(v) “Exchange Act” means, except as otherwise provided in Section 2(g), the Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder. 
 (w) “Exercise Date,” with respect to an Award, unless otherwise provided
in the applicable Award Agreement, means (i) the date on which such Award is properly exercised, or on which an election to have such Award settled or to have payment or delivery made thereunder is properly made, by the Participant or
(ii) for an Award that is not “exercisable”, the date on which payment or delivery under such Award becomes due pursuant to the terms thereof. 
 (x) “Exercise Price” or “Award Price,” with respect to an Award, means the exercise, base or purchase price (if any) in respect thereof. 

(y) “Fair Market Value” of a share of Common Stock as of any date means: 

(i) if the Common Stock is Publicly Traded on such date, the closing sale price on such date or, if there are no trades on
such date, the mean between the closing bid and asked prices on such date, as reported by the principal exchange or market on which the Common Stock is then Publicly Traded (or, if not so reported, as reported by the National Daily Quotation Bureau,
Inc. or another customary financial reporting service); or 
 (ii) if the Common Stock is not Publicly Traded or,
if it is Publicly Traded but the sales prices or bid and asked prices are not so reported, the fair market value as determined by the Committee in accordance with Section 409A. 

(z) “Grant Date” means the date specified by the Committee on which a grant of an Award to a Participant shall become
effective, which shall not be earlier than the date on which the Committee takes action with respect thereto. 
 (aa)
“Incentive Stock Option” means an option to purchase Shares granted pursuant to Section 6, which is intended to qualify and in fact qualifies as an incentive stock option under Sections 421 and 422 of the Code. 

(bb) “Non-Employee Director” means a member of the Board, or a member of the board of directors of a Subsidiary, who is not an
Employee. 
 (cc) “Non-Qualified Stock Option” means an option to purchase Shares granted pursuant to Section 6,
which is not an Incentive Stock Option. 
 (dd) “Option” means an Incentive Stock Option or a Non-Qualified Stock
Option. 
 (ee) “Option Award” means an Award of an Incentive Stock Option or a Non-Qualified Stock Option.

 (ff) “Participant” means any Eligible Person who holds an outstanding Award. 

  
 5 

 (gg) “Performance Goal” means, for a Performance Period, a performance goal
established by the Committee for such Performance Period based on Performance Measures selected by the Committee. 
 (hh)
“Performance Measures” means one or more performance criteria, which may be applied with respect to an individual Participant, the Corporation, any Subsidiary, the Company or any division, line of business or functional or business unit
and which may be measured on an absolute, adjusted or relative basis, including: stock price; earnings or earnings per share; stockholder return; return on capital, investment or stockholders’ equity; cash flow or throughput; EBIT or EBITDA;
return on assets employed; gross margin; operating profit; working capital; market share; net worth; inventory turnover; completion of significant projects or implementation of significant new processes; and achievement of strategic milestones. For
Awards which are Section 162(m) Awards, “Performance Measures” means those that satisfy the requirements of and are adopted as required by Section 162(m). For Awards which are not Section 162(m) Awards, “Performance
Measures” means those prescribed by the Committee. 
 (ii) “Performance Period” means a period established by the
Committee at the time any Performance Share or Performance Unit Award is granted or at any time thereafter (for any Section 162(m) Award, within the period permitted under Section 162(m)) during which any Performance Measures with respect
to such Award are to be achieved. 
 (jj) “Performance Share Award” means an Award granted pursuant to
Section 10, representing the unfunded and unsecured right to receive Shares contingent upon the achievement of one or more Performance Measures. 
 (kk) “Performance Unit Award” means an Award granted pursuant to Section 10, representing the unfunded and unsecured right to receive one or more units, denominated in Shares or cash or a
combination thereof, contingent upon achieving one or more Performance Measures. 
 (ll) “Permitted Transferee”, with
respect to a Participant, means a member (including by reason of adoption) of such Participant’s immediate family, which shall include the grandparents, parents, aunts, uncles, nieces, nephews, spouse, siblings, children and grandchildren and
lineal descendants (“Family Members”) thereof, and any estate, trust, corporation, limited liability company or partnership, 90% of the voting ownership and beneficial interests in which are held by or for such persons and such other
person as the Committee may authorize. 
 (mm) “Person” means an individual, a partnership, a corporation, an
association, a joint stock company, a limited liability company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

(nn) “Phantom Stock Award” means an Award granted pursuant to Section 9, representing the unfunded and unsecured right to
receive cash in an amount equal to the Fair Market Value of Shares. 

  
 6 

 (oo) “Plan” means this Platinum Energy Solutions, Inc. 2010 Omnibus Equity
Incentive Plan, which replaces the Platinum Energy Solutions, Inc. Amended and Restated 2010 Directors, Officers and Consultants Stock Option, Stock Warrant and Stock Award Plan. 

(pp) “Publicly Traded” means that the Common Stock is then listed or authorized for quotation on an established national or
regional securities market. 
 (qq) “Restricted Stock Award” means an Award granted pursuant to Section 8,
representing the unfunded and unsecured right to receive a Share Plan. 
 (rr) “Restricted Stock Unit Award” means an
Award granted pursuant to Section 9, representing the unfunded and unsecured right to receive one or more units, denominated in Shares. 
 (ss) “Section 162(m)” means Section 162(m) of the Code and the rules, regulations and official guidance issued thereunder. 

(tt) “Section 162(m) Award” means any Award that is intended to qualify and in fact qualifies for the performance-based
compensation exemption to the application of the $1 million deduction limit under Section 162(m). 
 (uu) “Section
409A” means Section 409A of the Code and the rules, regulations and official guidance issued thereunder. 
 (vv)
“Share” means a share of Common Stock. 
 (ww) “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations thereunder. 
 (xx) “Separation from Service” means a “separation from
service” within the meaning of Section 409A. 
 (yy) “Specified Employee” means an Employee treated as a
“specified employee” as of his or her “Separation from Service” under Section 409A(a)(2)(B)(i) of the Code. 
 (zz) “Stock Appreciation Right Award” or “SAR Award” means an Award granted pursuant to Section 7, representing the unfunded and unsecured right to receive Shares with a Fair
Market Value equal to the excess (if any) specified in Section 7. 
 (aaa) “Stockholder’s Agreement” means
the Stockholders Agreement made as of March 3, 2011 by and among Platinum Energy Solutions Inc., the holders acquiring units consisting of Common Stock and preferred stock of the Company as set forth on a schedule thereto and each other party
to the agreement as set forth on a schedule thereto. 
 (bbb) “Subsidiary” means a Person that is Controlled, directly
or indirectly, by the Corporation; provided, however, that, with respect to Incentive Stock Options, the term “Subsidiary” shall include only a Person that qualifies under Section 424(f) of the Code as a “subsidiary
corporation” with respect to the Corporation. 

  
 7 

 (ccc) “Substitute Award” means an Award granted pursuant to Section 3.2
solely in connection with the assumption of, or in substitution for, outstanding awards previously granted by a Person acquired by the Company or with which the Company merges or combines. 

(ddd) “Transfer,” and correlative words, means, with respect to any Award, the gift, sale, assignment, transfer, pledge,
hypothecation or other disposition (whether for or without consideration and whether voluntary, involuntary or by operation of law) of such Award or any interest therein. 

 

	3.	Shares Subject to this Plan; Stockholder Approval 

 3.1 Number of Shares. Subject to Sections 3.2 and 3.3, the aggregate number of Shares that may be delivered under this Plan is 5,224,082 Shares. The Shares delivered under this Plan may consist of
authorized but unissued Shares, treasury Shares or issued Shares that have been reacquired by the Company on the open market or otherwise. All Awards under this Plan, other than Dividend Equivalents, shall be expressed in reference to a number of
Shares. The individual limits described in this Plan shall apply without regard to whether the Awards are to be settled by the issuance or transfer of Shares or in cash. Notwithstanding anything contained herein to the contrary, in no event shall
the number of Shares subject to Awards granted to any one Participant during any one calendar year exceed the aggregate number of Shares that may be delivered under the Plan. 
 3.2 Calculation of Shares. To the extent that any Award is terminated, forfeited or cancelled or expires or is otherwise surrendered or returned to the Company, in each case prior to delivery of
Shares thereunder, or is paid or settled in cash, the underlying Shares will no longer be charged against the aggregate number set forth in Section 3.1 (until they become subject to another Award) and may again be made subject to Awards under
this Plan. For purposes of calculating the number of Shares used and available for use under this Plan, (i) only Shares underlying Awards that have been or, by their terms, may be settled by delivery of Shares shall be charged against such
number, (ii) Awards in respect of which payment of cash is made in lieu of delivery of Shares shall be deemed to have been terminated prior to the delivery of Shares thereunder, (iii) Shares deliverable or delivered under Substitute Awards
shall not be charged against such number and (iv) upon the payment of any Exercise Price or satisfaction of tax withholding obligations under this Plan in respect of an Award by the Transfer or relinquishment of Shares, only the number of
Shares actually delivered by the Corporation, less the number of Shares so Transferred or relinquished, shall be charged against such number. 
 3.3 Adjustments. If any reincorporation, recapitalization, reorganization, reclassification, stock dividend, stock split, reverse stock split or other change in the capital stock of the Corporation
shall occur or any acquisition, divestiture, asset sale, merger, consolidation, share exchange, spin-off, split-up or other business combination or corporate transaction or event (such as an unusual and material impairment, judgment, settlement,
change in accounting principles, change in tax or other laws, rules or regulations, change in fiscal year, or gain or loss) involving the Corporation shall occur or any dividend or distribution (other than a cash dividend that is ordinary in nature
and amount) shall be declared or made with respect to the Common Stock (each, a “Corporate Event”), the Committee shall, in the manner and to the extent that it deems appropriate and equitable, cause an adjustment to be made in:
(i) the maximum number 

  
 8 

 
and kind of securities subject to this Plan; (ii) the number, kind and amount of securities, rights and cash subject to some or all then outstanding Awards and/or the Plan; (iii) the
Exercise Price of some or all then outstanding Awards; and (iv) the other terms of this Plan and some or all then outstanding Awards (including, if the Common Stock is Publicly Traded, Performance Goals, Performance Periods and Performance
Measures, to the extent permitted under Section 162(m)); provided, however, that, in the case of Incentive Stock Options and, once the Common Stock is Publicly Traded, Section 162(m) Awards, such adjustments shall be made in
a manner consistent with the applicable requirements of Sections 424 and, if applicable, 162(m) of the Code; provided further, however, that, in the case of Options intended to not provide for the deferral of compensation within
the meaning of Section 409A, such adjustment shall be made in a manner consistent with the applicable requirements of Section 409A. Such adjustment shall be conclusive and binding for all purposes. 

3.4 Notices. The Corporation shall use reasonable efforts to inform Participants of the record date, if any, for any Corporate
Event sufficiently in advance to enable them to exercise vested Awards or, if otherwise permitted by the terms thereof then in effect, unvested Awards prior to such record date and of any adjustments pursuant to Section 3.3; provided,
however, that neither the Company nor any director, officer, employee, agent, consultant or representative of the Company shall be liable for failure to do so and the failure to do so shall not affect the authorization, validity,
enforceability or consummation of any Corporate Event. 
 3.5 Stockholder Approval. 

(a) For purposes of making Awards of Incentive Stock Options, this Plan must be approved by the stockholders in a manner intended to
comply with Sections 422(b)(i) of the Code no later than the earlier of (i) 12 months following the Effective Date and (ii) the date an Award is first settled under the Plan. 

(b) If the Common Stock becomes Publicly Traded, for purposes of making Awards that are intended to be Section 162(m) Awards, until
such time as this Plan is approved by the stockholders in a manner intended to comply with Section 162(m), which approval may include an approval prior to the date the Common Stock is first Publicly Traded (“Initial Stockholder
Approval”), any such Awards must be contingent on such stockholder approval and no such Awards may be settled prior to such stockholder approval. In addition, for purposes of making grants of Section 162(m) Awards following the expiration
of the Initial Stockholder Approval, this Plan must be reapproved by the Corporation’s stockholders in accordance with the requirements of Section 162(m). 
 3.6 Foreign Employees. In order to facilitate the grant of Awards under this Plan to Participants who are foreign nationals, or who are employed by the Company outside of the United States, the
Committee may prescribe such special terms for Awards, approve such supplements or amendments to, or alternative versions of, this Plan, as it may consider necessary or appropriate to accommodate differences in local law, rule, regulation, tax
policy or custom without thereby affecting the terms of this Plan for any other purpose; provided, however, that no such supplements, amendments or alternative versions shall include any provisions that are inconsistent with the terms
of this Plan, as then in effect, unless this Plan could have been supplemented or amended to eliminate such inconsistency without further approval by the 

  
 9 

 
stockholders under rules of any securities market or exchange on which the Shares are then listed. 
  

	4.	Administration of this Plan 

 4.1 Committee and Board. This Plan shall be administered by the Committee, which shall have all rights, powers and authorities necessary or appropriate in connection therewith. Neither the Company
nor any member of the Committee or the Board shall be liable for any action, omission or determination made in good faith with respect to this Plan or any Award, including any failure of an Award to qualify as a Section 162(m) Award or an
Incentive Stock Option Award or meet the requirements for exemption from or compliance with Section 409A. Except to the extent prohibited by applicable laws, rules or regulations, the Committee shall have the authority to delegate
administration of this Plan, in whole or in part, to third party service providers and administrators as well as Employees. Without limiting the preceding sentence, the Committee shall have the authority to delegate to the CEO, or his designee,
authority to (i) administer the Plan and (ii) designate Employees to participate in a pool of Awards, the terms and conditions of which (including the aggregate number of Shares subject to Awards within the pool) shall have been specified
by the Committee. Except to the extent prohibited by applicable laws, rules or regulations, the Board shall have the right, power and authority to exercise any and all rights, powers and authorities of the Committee in respect of this Plan and any
Award. 
 4.2 Discretionary Authority. Subject only to the express limitations of this Plan, the Committee shall have
authority to determine the Eligible Persons to whom, and the time or times at which, Awards are granted, the type of Awards granted, the number of Shares subject to Awards, the Award Price (if any) of Awards, the time or times at which Awards vest
and become exercisable or payable, the form in which Awards become payable, the term of Awards, the procedures for exercise and settlement of Awards and all other terms and conditions of Awards. Subject only to the express limitations of this Plan,
the Committee shall have sole authority to interpret this Plan and each Award, to make all factual determinations under this Plan and each Award (including determinations as to the achievement of Performance Measures), to amend this Plan or any
Award Agreement to correct any defect, error or omission or to reconcile any inconsistency herein or therein, and to make all other decisions necessary or advisable for administration of this Plan. The Committee shall have the authority to
prescribe, amend and rescind rules and regulations relating to this Plan and the administration thereof. The determinations of the Committee under this Plan need not be uniform and may be made selectively among Persons who receive, or are eligible
to receive, Awards, whether or not such Persons are similarly situated. All interpretations, determinations, decisions and actions by the Committee may be made in the exercise of its sole discretion and shall be final and binding upon all parties.

 4.3 Terms of Awards. The Committee shall establish the material terms and conditions of each Award at the time it
grants such Award. Such terms and conditions may include payment of any Award Price in Shares, cash or a combination thereof (which form of payment may be either prescribed by the Committee or subject to the discretion of the Company or the
Participant), Performance Measures, tandem or reload features, vesting schedules (and provisions regarding acceleration of vesting), registration provisions (including indemnification and contribution arrangements), provisions relating to
withholding of taxes, Transferability 

  
 10 

 
provisions, forfeiture and clawback provisions, anti-dilution provisions and provisions relating to the effect of a Change in Control or Corporate Event, provisions relating to voting, dividends
and distributions, and exercise provisions (including provisions relating to conditional exercises, net exercises and timing of payment of Award Prices). Each Award shall be evidenced by an Award Agreement between the Corporation and the applicable
Participant that shall include such terms and conditions. An Award Agreement may, but need not be, executed or acknowledged by the applicable Participant. 
 4.4 Changes to Awards. Except as provided in Section 4.5 (and without otherwise limiting the authority granted hereunder to the Committee), the Committee shall have the authority, to effect,
at any time and from time to time, upon the occurrence of a Change in Control or Corporate Event (i) the cancellation of any or all outstanding Awards and the grant in substitution therefor of new Awards covering the same or different numbers
or kinds of securities and having an Award Price which may be the same as or different than the Award Price of the Awards being cancelled, (ii) the cancellation of any or all outstanding Awards in exchange for payment to the applicable
Participants of an amount equal to the value of the underlying Shares over the Award Prices of the Awards being cancelled and (iii) the amendment of the terms and conditions of any and all outstanding Awards; provided, however,
that no such action shall adversely affect the rights or benefits of a Participant under any outstanding Award without the consent of such Participant. The Committee shall have authority to accelerate the vesting, exercisability or payment of any
and all outstanding Awards at any time or on the occurrence of any event or circumstance. 
 4.5 Section 162(m)
Awards. At such time as the Common Stock is Publicly Traded, the Committee may prescribe that an Award granted to a Participant is intended to constitute a Section 162(m) Award. To the extent applicable, any Award intended to constitute a
Section 162(m) Award shall be conditioned on the achievement of one or more Performance Measures selected by the Committee. The Committee shall take such action as is required to ensure that Awards intended to constitute Section 162(m)
Awards comply with Section 162(m). Notwithstanding anything contained herein to the contrary, Section 162(m) Awards shall be granted only by vote or consent of a committee or by unanimous vote or consent of the Board where at least two
directors shall satisfy the requirements for an “outside director” under Section 162(m) and the grant of Section 162(m) Awards and establishment of Performance Measures shall be made during the times specified and in accordance
with the terms of Section 162(m). 
  

	5.	Eligibility and Awards 

 All Eligible
Persons are eligible to be selected by the Committee to receive an Award under this Plan. Except as otherwise agreed by the Company, no Person shall have a right to receive an Award or, having received an Award in the past, have a right to again
receive an Award. The Committee is expected to consult with the CEO before granting Awards, except in cases where the Committee determines that such consultation would be inappropriate; provided, however, the authorization, validity
and enforceability of any Award shall not be adversely affected due to any failure to so consult. Where appropriate in order to give effect to this Section 5 or Section 4.1, references to the Committee shall also include the CEO.

  
 11 

	6.	Stock Option Awards 

 6.1
Grant of Option Awards. An Option Award may be granted to any Eligible Person selected by the Committee; provided, however, that, in addition to any other limitations required to comply with the applicable provisions of the
Code, Incentive Stock Options shall be granted only to Employees. Unless otherwise designated by the Committee and complying with the applicable provisions of the Code, each Option shall be a Non-Qualified Stock Option. 

6.2 Exercise Price. Except in the case of Substitute Awards, the Committee shall prescribe the exercise price per Share under each
Option Award; provided, however, that the Exercise Price per Share under an Option Award shall not be less than the Fair Market Value per Share on the Grant Date. 

6.3 Vesting; Term of Option Award. The Committee shall prescribe the number of Shares covered by an Option Award and the time or
times at which, and the conditions upon which, each Option Award shall become vested and exercisable, if any. The Committee shall prescribe the term of each Option Award; provided, however, that no Option Award shall have a term that
is longer than ten years after the applicable Grant Date. 
 6.4 Repricing. Notwithstanding anything contained herein to
the contrary, the Committee shall not have authority, without stockholder approval, to (i) amend previously granted Option Awards to reduce the Exercise Price of such Option Awards or (ii) except pursuant to Section 3.3 or 14, cancel
such Option Awards and grant replacement Awards with a lower Exercise Price than the Option Awards being cancelled. 
 6.5
Exercise of Option Award. Subject to such terms and conditions set forth in this Plan or as may be prescribed by the Committee, or as may be prescribed by the Corporation to comply with applicable securities and other laws, rules and
regulations, an exercisable Option Award may be exercised in whole or in part at any time during the term thereof by delivery of written notice to the Corporation, together with payment of the aggregate exercise price applicable to the Shares
underlying such Option Award, or the part thereof, exercised. Such exercise shall be complete upon the delivery of all of the following to the Secretary of the Corporation or his office: 

(a) a written notice complying with the applicable rules established by the Board stating that the Award, or a portion thereof, is
exercised. The notice shall be signed by the Participant or other Person then entitled to exercise the Award or such portion of the Award; 
 (b) if the Common Stock is not then Publicly Traded, such representations and documents as the Board deems necessary or advisable to effect compliance with all applicable provisions of the Securities Act,
as amended, and any other federal or state securities laws or regulations. The Board may also take whatever additional actions at any time it deems appropriate to effect such compliance including, without limitation, placing legends on share
certificates and issuing stop-transfer notices to agents and registrars; 
 (c) if the Common Stock is not then Publicly Traded,
a completed and signed Consent of Spouse in a form provided by or otherwise acceptable to the Corporation, in its sole discretion; 

  
 12 

 (d) if the Common Stock is not then Publicly Traded, completed and signed joinder to the
Stockholder’s Agreement in a form provided by or otherwise acceptable to the Corporation, in its sole discretion; 
 (e) in
the event that the Award shall be exercised by any Person or Persons other than the Participant, proof satisfactory to the Board of the authority of such Person or Persons to exercise the Award; and 

(f) full cash payment to the Secretary of the Corporation for the Shares with respect to which the Award, or portion thereof, is
exercised; provided, however, that the Committee may: (i) allow a delay in payment of up to thirty (30) days from the date of exercise; (ii) allow payment, in whole or in part, through the delivery of Shares already
owned by the Participant, duly endorsed for Transfer to the Corporation with a Fair Market Value on the date of delivery equal to such aggregate exercise price; (iii) allow payment, in whole or in part, through the surrender of Shares then
issuable upon exercise of such Award having a Fair Market Value on the date of exercise equal to such aggregate exercise price; (iv) allow payment, in whole or in part, through the delivery of a full recourse promissory note bearing interest
(at no less than such rate as shall then preclude the imputation of interest under the Code) and payable upon such terms as may be prescribed by the Committee; (v) if the Common Stock is then Publicly Traded, allow payment, in whole or in part,
through the delivery of a notice that the Participant has placed a market sell order with a broker with respect to Shares issuable upon such exercise and that the broker has been directed to pay a portion of the net proceeds of the sale to the
Corporation sufficient to satisfy such aggregate exercise price; or (vi) allow payment through any combination thereof. In the case of a promissory note, the Committee may also prescribe the form of such note and the security, if any, to be
given for such note. The Award may not be exercised, however, by delivery of a promissory note or by a loan from the Company when or where such loan or other extension of credit is prohibited by law. 

6.6 Additional Rules for Incentive Stock Options. 
 (a) No Incentive Stock Option shall be granted to a Participant to the extent that, as a result of such grant, the aggregate Fair Market Value (determined as of the proposed Grant Date) of the Shares with
respect to which “incentive stock options” under Section 422 of the Code are exercisable for the first time in any calendar year under this Plan and any other plans of the Company would exceed the maximum amount permitted under
Section 422(d) of the Code. This limitation shall be applied by taking “incentive stock options” under Section 422 of the Code into account in the order in which granted. Subject to Section 3.3, the maximum number of Shares
that may be made subject to Incentive Stock Options granted to any one Participant during any one calendar year shall be 5,224,082 Shares. 
 (b) No Incentive Stock Option Award shall provide that such Incentive Stock Option may be exercised later than three months following termination of employment of the Participant with the Company, except
to the extent permitted under special rules relating to death and disability in accordance with Section 422 of the Code. 

(c) Notwithstanding anything contained herein to the contrary, the terms and conditions of an Incentive Stock Option Award may contain
such additional terms and conditions, not inconsistent with the terms of this Plan, as are deemed necessary or desirable by 

  
 13 

 
the Committee so as to cause such Incentive Stock Option to qualify as an “incentive stock option” under Section 422 of the Code; provided, however, the
authorization, validity and enforceability of any Incentive Stock Option Award shall not be adversely affected due to a failure to comply with Section 422 of the Code. Such terms and conditions, together with the terms of this Plan, shall be
interpreted so as to cause such Incentive Stock Option to qualify as an “incentive stock option” under Section 422 of the Code. Such terms and conditions shall include, if applicable, limitations on Incentive Stock Options granted to
owners of ten percent or more of the Company. An Incentive Stock Option shall be treated as a Non-Qualified Stock Option to the extent that requirements applicable to “incentive stock options” under Section 422 of the Code shall not
be satisfied, shall be nontransferable other than by will or by the laws of descent and distribution, and shall be exercisable during the lifetime of the applicable Participant only by such Participant. 

(d) If Shares acquired by exercise of an Incentive Stock Option are disposed within two years following the Grant Date or one year
following the delivery of such Shares to the applicable Participant upon exercise thereof, such Participant must be required to, promptly following such disposition, notify the Company in writing of the date and terms of such disposition and provide
such other information regarding such disposition as the Company may request. 
  

	7.	Stock Appreciation Rights Awards 

 7.1 Grant of SAR Awards. An SAR Award may be granted to any Eligible Person selected by the Committee. 
 7.2 Base Price. The Committee shall prescribe the base price under each SAR Award; provided, however, that the base price per Share under a SAR Award shall not be less than the Fair
Market Value of a Share on the Grant Date. 
 7.3 Vesting; Term of SAR Award. The Committee shall prescribe the number of
Shares covered by SAR Award and the time or times at which, and the conditions upon which, each SAR Award shall become vested and exercisable, if any. The Committee shall prescribe the term of each SAR Award; provided, however, that no
SAR Award shall have a term that is longer than ten years after the applicable Grant Date. 
 7.4 Exercise of SAR Award.
Subject to such terms and conditions set forth in this Plan or as may be prescribed by the Committee, or set forth in this Plan or as may be prescribed by the Corporation to comply with applicable securities and other laws, rules and regulations, an
SAR Award may be exercised in whole or in part at any time during the term thereof by delivery of written notice to the Corporation. Upon exercise of an SAR Award in whole or in part, the Participant shall be entitled to receive such number of
Shares that in the aggregate have a Fair Market Value equal to the excess, if any, of (i) the Fair Market Value of the Shares underlying such SAR Award or the part thereof exercised as of the date of exercise over (ii) the aggregate base
price applicable to such Shares. 
 7.5 Freestanding Awards. Notwithstanding anything contained herein to the contrary,
no SAR Award shall be awarded in tandem with an Option Award. 

  
 14 

	8.	Restricted Stock Awards 

8.1 Grant of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by the Committee.

 8.2 Purchase Price. A Restricted Stock Award may provide for an award of Shares without requiring payment of any
purchase price, or may require the Participant to pay a specified purchase price, for the Shares underlying such Restricted Stock Award. The Committee shall prescribe any such purchase price under any Restricted Stock Award. 

8.3 Vesting. The Committee shall prescribe the time or times at which, and the conditions upon which, each Restricted Stock Award
shall become vested, if any. 
 8.4 Restrictions. The Shares underlying a Restricted Stock Award may be immediately
Transferable or subject to restrictions on Transfer. The Committee shall prescribe the time or times at which, and the conditions upon which, each Restricted Stock Award shall become Transferable. The Committee shall prescribe the term for
satisfying any conditions to vesting or Transferability of any Restricted Stock Award; provided, however, that such term shall not be longer than seven years after the Grant Date. The Committee may prescribe that the certificates
representing the Shares underlying a Restricted Stock Award shall remain in the physical custody of the Company or an agent designated by the Company until all such restrictions and conditions have been satisfied on or are waived, terminated or
expired. Unless otherwise prescribed by the Committee failure to satisfy any such conditions shall result in the forfeiture (and return to the Corporation) by the Participant of the Shares underlying the applicable Restricted Stock Award and the
return by the Company to the Participant of any purchase price paid by the Participant in respect thereof. 
 8.5 Rights as
Stockholder. Subject to this Section 8 and unless otherwise prescribed by the Committee or as may be prescribed by the Corporation to comply with applicable securities and other laws, rules and regulations, the Participant will have all
rights of a stockholder with respect to the Shares underlying a Restricted Stock Award, including the right to vote such Shares and, subject to such requirements as the Committee may prescribe (including requirements as to vesting, Transferability,
custody and forfeiture consistent with those applicable to the underlying Shares), to receive all dividends and other distributions paid with respect to such Shares, at the same time and form as other stockholders of the Corporation receive such
dividends or distributions or such other time and form as may be prescribed by the Committee. 
 8.6 Section 83(b)
Election. The Committee may prescribe that a Restricted Stock Award is conditioned upon the applicable Participant refraining from making an election with respect to such Restricted Stock Award under Section 83(b) of the Code. Irrespective
of whether a Restricted Stock Award is so conditioned, the applicable Award Agreement shall specify that, if the applicable Participant makes an election pursuant to Section 83(b) of the Code with respect to such Restricted Stock Award, such
Participant shall be required to promptly file a copy of such election with the Corporation. 
  

	9.	Restricted Stock Unit Awards and Phantom Stock Awards 

  
 15 

 9.1 Grant of Restricted Stock Unit Awards and Phantom Stock Award. A Restricted Stock
Unit Award or a Phantom Stock Award may be granted to any Eligible Person selected by the Committee. 
 9.2 Vesting. The
Committee shall prescribe the time or times at which, and the conditions upon which, each Restricted Stock Unit Award and Phantom Stock Award shall become vested, if any. The Committee shall prescribe the term for satisfying any such requirements;
provided, however, that such term shall not be longer than ten years after the applicable Grant Date. 
 9.3
Benefit Upon Vesting. Unless otherwise prescribed by the Committee upon vesting of a Restricted Stock Unit Award and Phantom Stock Award, the applicable Participant shall be entitled to receive Shares (with respect to Restricted Stock Unit
Awards) or cash (with respect to Phantom Stock Awards) in an amount equal to the Fair Market Value of the Shares underlying such Phantom Stock Award on such date. 
 9.4 Dividends. The Compensation Committee may, in its sole discretion, prescribe that a Participant holding a Restricted Stock Unit Award or Phantom Stock Award shall have the right to receive,
subject to satisfying a vesting requirement, with respect to each Share underlying such Restricted Stock Unit Award or Phantom Stock Award, payments of amounts equal to any and all dividends and distributions paid to stockholders during the term of
such an Award. 
  

	10.	Performance Share Awards and Performance Unit Awards 

 10.1 Grant of Performance Share Awards and Performance Unit Awards. Performance Share Awards and Performance Unit Awards may be granted to any Eligible Person selected by the Committee. Performance
Share Awards and Performance Unit Awards shall be based on the achievement, over a specified period, of Performance Measures as prescribed by the Committee. Performance Share Awards and Performance Unit Awards may be paid in Shares, cash or a
combination thereof as prescribed by the Committee. 
 10.2 Designation as Qualified Performance-Based Compensation.

 (a) The Committee may specify which Performance Share Awards and Performance Unit Awards granted to an Employee are intended
to be considered “qualified performance-based compensation” under Section 162(m), such that it would be a Section 162(m) Award. To the extent that any such Awards are intended to be a Section 162(m) Award, no such Award may
be made as an alternative to another Award that is not designated as “qualified performance-based compensation” but instead must be separate and apart from all other Awards. Notwithstanding anything in this Plan to the contrary, the
Committee’s obligations under Sections 10.2 through 10.4 cannot be delegated. 
 (b) When Performance Share Awards or
Performance Unit Awards intended to be considered “qualified performance-based compensation” are granted, the Committee shall establish (i) the objective Performance Goals that must be met, (ii) the Performance Period during
which performance will be measured, (iii) the maximum amounts that may be paid if the Performance Goals are met and (iv) any other conditions that the Committee deems appropriate 

  
 16 

 
and consistent with this Plan and the requirements of Section 162(m) for “qualified performance-based compensation.” The Committee shall establish the Performance Goals either
before the beginning of the Performance Period or during a period ending no later than the earlier of (A) 90 days after the beginning of the Performance Period or (B) the date on which 25% of the Performance Period has been completed or
such other date as may be required or permitted under Section 162(m). The Committee may, at any time during the first 90 days of the Performance Period (or, if shorter, the first 25% of the Performance Period, as allowed under
Section 162(m)), to adjust or modify the calculation of a Performance Goal. Performance Goals must be established in a written form within the time prescribed by Section 162(m). The Performance Goals shall satisfy the requirements for
“qualified performance-based compensation,” including the requirement that the achievement of the Performance Goals be substantially uncertain at the time they are established and that the Performance Goals be established in such a way
that a third party with knowledge of the relevant facts could determine whether and to what extent the Performance Goals have been met. Except as provided in this Section 10.2(b), the Committee shall not have discretion to increase the amount
of compensation that is payable upon achievement of Performance Goals. 
 (c) The Committee shall certify and announce the
results for the Performance Period to all relevant Participants. The Committee shall determine the amount, if any, to be paid pursuant to each Award based on the achievement of the Performance Goals and the terms of each Award Agreement. 

(d) The Committee may provide that Awards shall be settled, in whole or in part, in the event of the Participant’s death or
Disability, a Change in Control or under other circumstances consistent with Section 162(m) and Section 409A. 
 10.3
Payment of Award. Unless the Committee prescribes otherwise, Performance Share Awards and Performance Unit Awards will be payable in a lump sum prior to the 15th day of the third month of the year immediately following the year in which the
close of the Performance Period occurs in accordance with the applicable short-term deferral exception provisions of Section 409A or, in accordance with procedures established by the Committee and the applicable provisions of Section 409A,
on a deferred basis. 
  

	11.	Substitute Awards, Dividend Equivalents and Other Awards 

 Substitute Awards, Dividend Equivalents and Awards other than Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Phantom Stock, Performance Share and Performance Unit Awards may be
granted to any Eligible Person selected by the Committee. Such other Awards may be granted alone or in addition to any other Awards granted under this Plan and may be paid in Shares or cash as the Committee shall determine. The terms and conditions
of such Awards shall be prescribed by the Committee. 
  

	12.	Requirements for Issuance of Shares 

 12.1 Stock Certificate. Shares issued hereunder may be evidenced in such manner as the Corporation shall deem appropriate, including book entry registration or issuance of a stock certificate or
certificates. 

  
 17 

 12.2 Securities Laws. Notwithstanding anything contained in this Plan to the
contrary, no Shares shall be issued or Transferred in connection with any Award unless and until all requirements under securities and other laws, rules and regulations and under the rules of any securities exchange or market on which the Common
Stock is then listed shall have been complied with. The Committee shall have the right to condition any Award on the Participant’s undertaking to comply with such restrictions on his or her subsequent disposition of the Shares covered thereby
as the Committee shall deem necessary or advisable. 
 12.3 Legends. Certificates and book entries representing Shares
issued or Transferred under this Plan may be subject to such stop-transfer orders and other restrictions, and bear such other legends, as the Corporation may deem necessary or appropriate. 

12.4 Registration. After the Common Stock becomes Publicly Traded, the Corporation shall use commercially reasonable efforts to
file, at its expense, a registration statement or statements on Form S-8 (or any applicable successor Form) to register the sale, issuance, transfer or resale of the Shares subject to this Plan under the Securities Act, at such time or times as the
Corporation may deem necessary or appropriate. Any issuance, transfer or resale of Shares pursuant to such registration statement or statements shall be subject to (i) the continued effectiveness or use, at the Corporation’s discretion, of
such registration statement or statements and (ii) any blackout, insider trading, short-swing profits, holdback or other trading restrictions which the Corporation may impose or to which the Participant may be subject, by law, under the
Corporation’s policies or otherwise. For so long as the Shares subject to this Plan are not registered for issuance by the Corporation, the Corporation shall be under no obligation to issue or deliver any Shares pursuant to an Award unless such
Shares may be issued and delivered without such registration pursuant to an available exemption therefrom, the terms and conditions of such exemption shall have been fully complied with and the Corporation elects to rely thereon (which it shall be
under no obligation to do). 
 12.5 No Company Liability. The Corporation shall have no liability to a Participant if the
Fair Market Value of Shares decreases between the date on which the Participant first attempts to exercise an Award in respect thereof and the date on which the Corporation issues or delivers such Shares. In addition, the Corporation shall have no
liability in respect of any Award that expires prior to exercise or settlement, or that is cancelled or otherwise forfeited, pursuant to the terms of this Plan or the applicable Award Agreement. 

12.6 Indemnification. Any Participant for whom the resale of Shares is included in a registration statement or statements will
indemnify the Corporation, each of its directors and officers and each Person who Controls the Corporation (other than such Participant) against all claims, losses, damages, expenses and liabilities (or actions in respect thereof) arising out of or
based upon any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement or statements, or any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the Corporation, each of its directors and officers and each Person Controlling the Corporation (other than such Participant) for all legal and any other expenses reasonably
incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged statement) or omission (or alleged omission) is made
in such registration 

  
 18 

 
statement or statements in reliance upon and in conformity with written information furnished to the Corporation by such Participant with respect to such Participant; provided,
however, that the liability of any such Participant under this Section 12.4 shall be limited to the amount of proceeds received by such Participant in the resale giving rise to such liability. 

 

	13.	Delivery of Cash and Shares and Restrictions on Transfer of Shares 

 13.1 Delivery of Shares. Except as may otherwise be determined by the Corporation: 
 (a) the Shares will be evidenced by (i) a physical certificate retained by the Secretary of the Corporation or such escrow agent as the Corporation may appoint until the Shares have vested and any
note with respect to such Shares has been paid, as applicable, or (ii) will be delivered to the Participant in book entry form by causing the Shares to be credited to the Participant’s account at such brokerage firm as may be designated
from time to time by the Corporation to assist in the administration of the Plan (the “Broker”); 
 (b) when
Shares are delivered in book-entry form, such delivery as well as all subsequent Transfers and other matters relating to the Shares will be subject, in addition to all other provisions hereof, to the rules and requirements imposed by the Broker and
such administrative rules and requirements as may be imposed by the Corporation. 
 Prior to vesting and payment of any applicable loans, the
Shares will be subject to stop transfer instructions given by the Corporation to the Broker and the transfer agent for the Shares. Upon vesting of any Shares, such stop transfer instructions will be terminated (except to the extent that any Shares
may be subject to loans or sold to satisfy applicable withholding requirements). Upon forfeiture of any Shares, the Broker and such transfer agent will be instructed to debit such Shares from such account and return them to the Corporation. Each
physical certificate and each book entry, in each case relating to Shares may include such restrictive legends in such forms as the Corporation may deem convenient, expedient, necessary or appropriate relating to the restrictions under this Plan or
the applicable Award Agreement, as applicable, applicable securities, tax or other laws or applicable rules of any securities exchange or market. 
 13.2 Delivery of Cash. All cash payments in satisfaction of an Award (other than Dividend Equivalents) shall equal the Fair Market Value of the Shares to which the cash payment relates, determined
as of the Exercise Date, and such payment shall be made within 3 business days after the Exercise Date. 
 13.3
Representation Regarding Acquisition of Restricted Shares. Unless and until a Form S-8 or Form S-3 has been filed with respect to the Shares, each Participant will be required to make representations regarding Shares acquired pursuant to an
Award, which representations shall be set forth in the applicable Award Agreement or exercise notice and may include, without limitation, the following representations: 
 (a) the Participant understands, represents and agrees that the acquisition of the Shares has not been approved or disapproved by the Securities and Exchange Commission or any administrative agency
charged with the administration of the securities laws of any state; that he has access to all material information and is knowledgeable about the Company, its business, opportunities, risks and uncertainties, and the material facts and
circumstances relating to any 

  
 19 

 
investment therein; and that all documents, records and books pertaining to this investment have been made available upon reasonable notice for inspection by the Participant or his purchaser
representative, counsel, accountant or business advisor; 
 (b) the Participant represents, warrants and confirms that he
(i) is able to bear the economic risks of this investment, (ii) is able to hold this investment for an indefinite period of time, (iii) is presently able to afford a complete loss of this investment and (iv) has no need for
liquidity in this investment; 
 (c) the Participant represents, warrants and confirms that the Shares were or will be acquired
in good faith solely for his own account for investment purposes only and are not being acquired with a view to or for the resale, distribution, subdivision or fractionalization thereof; 

(d) the Participant represents, warrants and confirms that he has no contract, undertaking, understanding, agreement or arrangement,
formal or informal, with any Person to sell, Transfer or pledge to any Person any of the Shares or any part thereof and has no present plans to enter into any such contract, undertaking, understanding, agreement or arrangement; 

(e) the Participant represents, warrants and confirms that he understands that the legal consequences of the representations and
warranties set forth herein are that he must bear the economic risks of this investment for an indefinite period of time because the Shares have not been registered under the Securities Act, or the securities law of any state and, therefore, cannot
be sold unless they are subsequently so registered or an exemption from such registration is available; 
 (f) the Participant
represents, warrants and confirms that he understands that no federal or state agency has passed on or made any recommendation or endorsement of the Shares and that the Corporation is relying on the truth and accuracy of the representations and
warranties and confirmations made by the Participant in offering the Shares to him without having first registered the Shares under the Securities Act and any applicable state securities laws; 

(g) the Participant represents, warrants and confirms that he consents to the placement of a restrictive legend or legends on any
certificate evidencing the Shares, which legend or legends may be in the following or any equivalent form: 
 “THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAW OF ANY STATE IN RELIANCE UPON EXEMPTIONS FROM REGISTRATION THEREUNDER. THE SALE OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED HEREBY
IS RESTRICTED THEREUNDER AND, IN ANY EVENT, IS PROHIBITED UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO IT THAT SUCH SALE OR OTHER DISPOSITION CAN BE MADE WITHOUT REGISTRATION THEREUNDER. BY ACQUIRING THE SECURITIES
REPRESENTED HEREBY, THE STOCKHOLDER REPRESENTED THAT HE HAS ACQUIRED SUCH SECURITIES 

  
 20 

 
FOR INVESTMENT PURPOSES ONLY, AND THE STOCKHOLDER AGREED THAT HE WOULD NOT SELL OR OTHERWISE DISPOSE OF SUCH SECURITIES WITHOUT REGISTRATION OR OTHER COMPLIANCE THEREWITH.” 

AND/OR 

“THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN
AN AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR HIS PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE CORPORATION AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE
CORPORATION BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.” 
 ; and 

(h) the Participant represents, warrants and confirms that he (i) is or is not an “accredited investor” as defined in Rule
501(a) under the Securities Act, (ii) is not, and is not required to be, registered as a broker-dealer under the Exchange Act and (iii) is not and will not be acquiring the Shares as a result of any general solicitation or general
advertisement. 
 13.4 Market Stand-Off Agreement. In the event of an initial public offering of the Corporation’s
securities and upon request of the Corporation or the underwriters managing any underwritten offering of the Corporation’s securities, the Participant shall agree not to sell, make any short sale of, loan, grant any option for the purchase of,
or otherwise dispose of any Shares (other than those included in the registration), without the prior written consent of the Corporation or such underwriters, as the case may be, for such period of time (not to exceed one hundred eighty
(180) days) from the effective date of such registration as may be requested by the Corporation or such managing underwriters. 
 13.5 Right of First Refusal. 
 (a) Subject to Section 13.9, if the
Participant would like to transfer any Shares that have vested and are not subject to a note, the Participant shall give a written notice (a “Transfer Notice”) to the Corporation describing the proposed transfer, including: (i) the
number of Shares to be transferred in such transfer (“Offered Shares”); (ii) the identity of the prospective transferee(s); and (iii) the consideration and other material terms and conditions upon which the proposed Transfer is
to be made. The Transfer Notice shall certify that the Participant has received a bona fide offer from the prospective transferee(s) and in good faith reasonably believes a binding agreement for the transfer is obtainable on the terms set forth in
the Transfer Notice. The Transfer Notice shall also include a copy of any written proposals, term sheets, letters of intent or other agreements relating to the proposed transfer. 

  
 21 

 (b) The Corporation shall have the right (but not the obligation) to purchase all or any
part of the Offered Shares on the terms of the proposal described in the Transfer Notice (a “Right of First Refusal”) by delivery of a notice of exercise of the Right of First Refusal within thirty (30) days after the date on which
the Transfer Notice is received by the Corporation. If the Corporation provides such notice to the Participant, then the closing of the Corporation’s purchase of the Offered Shares with respect to which it elects to exercise its Right of First
Refusal shall occur no later than ninety (90) days after the Corporation’s receipt of the Transfer Notice. To the extent that the Corporation does not fully exercise its Right of First Refusal to purchase some or all of the Offered Shares
within the applicable time period, the Participant may, not later than one hundred (100) days following receipt of the Transfer Notice by the Corporation, transfer the Offered Shares to the proposed transferee on the terms and conditions
described in the Transfer Notice, subject to the transferee executing and delivering an agreement with the Company granting the Company a Right of First Refusal and a Call Right (as defined in this Section 13) with respect to such Shares on
terms and conditions the same, in all material respects, as those set forth in this Section 13. Any proposed transfer of the Offered Shares occurring after such one hundred (100) day time period or on terms and conditions different from
those described in the Transfer Notice shall again be subject to the Right of First Refusal and require compliance with the procedure described above. The Corporation may, at its option, pay the purchase price for Shares purchased in exercise of its
Right of First Refusal in three (3) or fewer annual installments, the first of which shall be paid upon the closing of the purchase. Interest shall accrue on the installments at the federal short-term interest rate in effect on the first day of
the month of exercise of the Right of First Refusal, to be recalculated on the first day of each month thereafter until all payments due are made. 
 13.6 Corporation Repurchase Right. 
 (a) Subject to Section 13.9 upon
the termination of the Participant’s employment with the Company, the Corporation shall have the right, but not the obligation, until the first anniversary of the termination of the Participant’s employment to repurchase some or all of the
Shares from the Participant, or the Participant’s successor in interest, if applicable, in one or more transactions (the “Call Right(s)”). 
 (b) When exercising a Call Right following a termination of the Participant’s employment by the Company or any Subsidiary for Cause or by the Participant other than due to Retirement, the Corporation
shall pay, per Share purchased pursuant to the Call Right, the lesser of (i) the price paid by the Participant for such Share or (ii) the Specified Value (as defined below). When exercising a Call Right following a termination of the
Participant’s death, Disability or Retirement or by the Company without Cause, the Corporation shall pay, per Share purchased pursuant to the Call Right, the Specified Value. For purposes of this Section 13, “Specified Value”
shall mean [two times the trailing twelve months’ revenue of the Company determined as of the date of termination of the Participant’s employment or the date of the exercise of the Call Right, whichever is less]. Notwithstanding the
foregoing, the Corporation may, at its option, pay the amount, if any, that it shall be obligated to pay under this Section 13.6(b) in three (3) or fewer annual installments, the first of which shall be paid upon the closing of the
purchase. Interest shall accrue on the installments at the federal short-term interest rate in effect on the first day of the month of exercise of the Call Right, to be recalculated on the first day of each month thereafter until all payments due
are made. 

  
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 (c) Notwithstanding Section 13.6(a) to the contrary, the Corporation shall not be
obligated to repurchase any of the Shares from the Participant, or from the estate of the Participant, and may defer such repurchase, if there exists and is continuing a default or an event of default on the part of the Corporation or under any
guarantee or other agreement under which the Corporation or any of its subsidiaries has borrowed money or if such repurchase would constitute a breach of, or result in a default or an event of default on the part of the Corporation or any of its
Subsidiaries under, any such guarantee or agreement, or if the repurchase would not be permitted under any applicable laws. If the Corporation is unable to purchase Shares generally in accordance with the preceding sentence, the Corporation shall
pay the Participant for such Shares as soon as possible, with interest at the federal short-term interest rate in effect on the first day of the month of exercise of the Call Right, to be recalculated on the first day of each month thereafter until
all payments due are made. 
 (d) The Corporation may exercise its Call Right(s) under this
Section 13.6 by giving written notice thereof to the Participant (or his successor in interest, if applicable). Upon delivery (or promptly following delivery) of such notice(s) of exercise of a Call Right, the Corporation shall deliver to the
Participant (or his successor in interest, if applicable) a calculation of the purchase price therefor determined in accordance with Section 13.6(b). The consummation of the repurchase, to the extent such repurchase would require the delivery
of payment to the Participant, shall take place at the principal offices of the Corporation on the tenth
(10th) business day following the delivery of the
calculation of the purchase price (or at such other time and/or place as the Corporation and the Participant (or such successor in interest) shall agree). 
 13.7 Assignment of Rights. 
 (a) The Corporation may assign its Right of
First Refusal under Section 13.5 and/or its Call Right under 13.6 in whole or in part, to: (i) any affiliate; or (ii) upon written consent of the Board, any other person that the Board determines has a sufficient relationship with or
interest in the Corporation. The Corporation shall give reasonable written notice to the Participant of any such assignment. 

(b) The restrictions of this Section 13 apply to the Participant and any person to whom Shares are sold, pledged, assigned,
bequeathed, gifted, transferred or otherwise disposed of, without regard to the number of such subsequent transferees or the manner in which they acquire the Shares. For purposes of Section 13, the term “Participant” shall include any
person purchasing the Shares in accordance with Section 13. 
 13.8 Conflict with Agreements. The provisions of this
Section 13 are intended to be in addition to, and not in conflict with the rights and restrictions in any Award Agreement and the Corporation’s Stockholder’s Agreement. To the extent there is a conflict between the terms of this
Section 13 and any of the rights or restrictions in an Award Agreement, the terms of this Section 13 shall prevail, notwithstanding any other provisions of such Award Agreement. 

13.9 Publicly Traded Stock. If the Common Stock becomes Publicly Traded and registered for exchange on a Form S-8 or S-3 (or a
successor Form), the transfer restrictions and rights set forth in Sections 13.5 through 13.7 shall terminate as of the first date that the Common Stock is so Publicly Traded. 

  
 23 

 13.10 Violation of Law. No Award may be exercised at a time when the exercise thereof
or the issuance of Shares thereunder would constitute a violation of any law, rule or regulation or any rule of any securities market or exchange on which the Common Stock is then listed. 

 

	14.	Change in Control 

 14.1
In addition to the adjustments required or permitted under Section 3.3, the Committee may prescribe additional provisions relating to the effect of a Change in Control or a Corporate Event on an Award. Such provisions need not be in an Award
Agreement, and will not require the consent of a Participant and may include: (i) acceleration of the vesting and exercisability of any Award; (ii) extension of time periods for satisfying vesting or Transferability conditions with respect
to, or exercising or realizing payments, rights, benefits or gains from, any Award; (iii) elimination or modification of conditions related to vesting, Transferability or exercisability of or payments, rights, benefits or gains under, any
Award; (iv) provision for the settlement of any Award with an equivalent value in other securities, cash or properties; (v) requirement that outstanding Awards that are “in-the-money” be settled in cash in an amount equal to the
amount by which they are “in-the-money”, as determined by the Committee; (vi) requirement that Participants surrender their outstanding Awards that are “in-the-money” in exchange for a settlement immediately following the
Change in Control, as determined by the Committee; (vii) cancellation of any or all Awards that are not “in the money” without consideration; and (viii) cancellation or forfeiture of any Awards that are not vested as of the date
of the Change in Control without consideration. Such surrender, settlement and cancellation shall take place as of the date of the Change in Control or such other date as the Committee may specify. For purposes of this Section 14, an Award
being “in the money” means that the excess of the Fair Market Value as of the date of the Change in Control over the Award Price is a positive value. 
 14.2 The Committee shall provide in an Award Agreement whether an Award that is subject to Section 409A is payable upon a Change in Control. If an Award that is subject to Section 409A provides
for vesting upon a Change in Control that is not permissible payment event, then such Award Agreement shall state the event upon which such Award may be payable. 
  

	15.	Miscellaneous Award Provisions 

 15.1 Conflicts. In the event of a conflict between the terms of this Plan and any Award Agreement, the terms of this Plan shall prevail. 

15.2 Forfeiture Events. Unless otherwise provided in an Award Agreement, a Participant’s rights, payments, gains and benefits
with respect to an Award shall be subject to reduction, cancellation, forfeiture and recoupment upon the occurrence of specified events, in addition to any otherwise applicable continued employment or performance conditions as prescribed by the
Committee. Such events include termination of employment for Cause, violation of material policies, breach of noncompetition, confidentiality or other restrictive covenants, engagement in Detrimental Conduct and any other events determined by the
Committee that may be set forth in an Award Agreement. 

  
 24 

 15.3 Section 409A. Notwithstanding anything contained herein to the contrary,
the terms of the Plan are intended to, and shall be interpreted and applied so as to, comply in all respects with Section 409A. The Committee may amend the terms of any Award, in order to cure any potential defects under Section 409A, in a
manner deemed appropriate by the Committee, without the consent of the Participant. It is the intention of the Corporation that no Award be subject to the additional tax imposed by Section 409A(b)(5)(i) of the Code. Without limiting the
generality of the foregoing, it is intended that (i) all Options granted under this Plan will be exempt from Section 409A and (ii) all other Award may be granted hereunder either (a) in a manner such that the Award will not
provide for a deferral of compensation subject to Section 409A or (b) in a manner such that the Award will be subject to Section 409A. If an Award is intended to be so subject to Section 409A, then the Award shall be settled and
paid in a single lump sum (I) as of a specified date, (II) upon the Participant’s Separation from Service, or (III) the earlier of such dates, as specified by the Committee at the time of grant and shall otherwise be granted,
administered, settled and paid in accordance with Section 409A; provided, however, that no such settlement or payment shall be made to a Specified Employee upon a Separation from Service before the date which is 6 months after the
date of the Specified Employee’s Separation from Service (or, if earlier, the date of death of the Specified Employee); provided, further, that Performance Share Awards and Performance Unit Awards may be paid upon a Change in
Control that is a permissible payment event under Section 409A. Nothing in this Section 15.3 shall be construed as an admission that any of the compensation and or benefits payable under this Plan constitutes “deferred
compensation” subject to Section 409A. 
  

	16.	General Provisions 

 16.1
No Transfer of Awards; Plan Binding; Beneficiaries. Unless otherwise prescribed by the Committee, Awards shall not be Transferable, except by will or by the laws of descent and distribution, and, during the lifetime of a Participant, Awards
shall be exercised only by the Participant or by his guardian or legal representative. Subject to the other provisions hereof, Awards other than Incentive Stock Options Awards may be Transferred to a Permitted Transferee, but shall not be
Transferable for value. This Plan shall be binding upon the Corporation and its successors and the Participants and their permitted successors in interest. Each Participant shall have the right to designate a beneficiary or beneficiaries who shall
be entitled to take any action, make any election and receive any rights, payments, benefits or gains under an applicable Award following such Participant’s death. 
 16.2 Deferrals of Payment. Notwithstanding anything contained herein to the contrary, the Committee may permit a Participant to defer the receipt of payment or delivery of cash, securities, rights
or other property that would otherwise be due to such Participant by virtue of the exercise of or the satisfaction of vesting or other conditions or restrictions with respect to an Award. If any such deferral is to be permitted, the Committee shall
establish the rules and procedures relating to such deferral, including the period of time in advance of payment or delivery when an election to defer is required to be made, the time period of the deferral, the events that would result in payment
or delivery of the deferred amount, the interest or other earnings attributable to the deferred amount and the method of funding (if any) attributable to the deferred amount. Any deferrals made pursuant to this Section 16.2 shall be made in a
manner and subject to terms and conditions so as to comply with Section 409A. 

  
 25 

 16.3 Rights as Stockholder. Except as otherwise provided in this Plan, no Participant
shall have any rights (including rights with respect to voting, dividends or distributions) with respect to any securities underlying an Award until the date such securities are delivered to the Participant. 

16.4 Employment or Service. Nothing in this Plan, in the grant of any Award or in any Award Agreement shall confer upon any
Eligible Person or Participant the right to continue in any capacity in which he is employed by, or otherwise serves, the Company and shall not interfere in any way with any right that the Company would otherwise have to terminate his or her
employment or other service at any time. 
 16.5 Other Compensation and Benefit Plans. The adoption of this Plan shall
not affect any other stock incentive or other compensation plans of the Company and shall not preclude the Company from establishing any other forms of stock incentive or other compensation for Employees, Non-Employee Directors or other Persons. The
amount of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute compensation with respect to which any other benefits of such Participant are determined, including benefits under any bonus, pension, profit
sharing, life insurance or salary continuation plan, except as otherwise specifically provided by the terms of such plan. The Plan shall not entitle Participants to any future compensation. The Plan is not an element of the Employees’ base
salary or base compensation and shall not be considered as part of such in the event of severance, redundancy, or resignation. The Company has no obligation to offer incentive plans to Participants in the future, and the Plan shall be effective only
for the time period specified in the Plan and shall not be deemed to renew year over year and there is not obligation for uniformity of treatment of Employees or Participants under the Plan. Specifically, the Company assumes no obligation to the
Participant under this Plan with respect to any doctrine or principle of acquired rights or similar concept. 
 16.6 Tax
Withholding. The Participant or successor in interest shall be responsible for payment of all taxes and other charges required by law to be withheld from an Award or securities, cash or other property paid or delivered in settlement of an Award.
Payment shall be made: (i) in cash or by check; (ii) at the discretion of the Committee, in Shares, valued at the Fair Market Value of such Shares on the applicable date; (iii) by deduction from the settlement of the applicable Award;
(iv) at the discretion of the Committee, by a combination of the methods described above; or (v) by such other method as may be approved by the Committee. The Company is hereby authorized to, at its election, (i) require that the
Participant or successor in interest make a payment to the Company, (ii) deduct from other compensation, including wages, to be paid by the Company or (iii) withhold from any Shares or cash or other property deliverable under this Plan in
settlement of an Award, in each case, the amount of any federal, state or local taxes that the Company is required to withhold with respect to such Awards. 
 16.7 Unfunded Plan. This Plan shall be unfunded. Neither the Company nor any other Person shall be required to establish any special or separate fund or to make any other segregation of assets to
assure the settlement of any Awards. Nothing contained in this Plan and no action taken pursuant hereto shall create or be construed to create a fiduciary relationship between the Company or any other Person and any Participant (or any of his
successors in interest). No Participant or other Person shall under any circumstances acquire any property 

  
 26 

 
interest in any specific assets of the Company or any other Person. To the extent that any Person acquires a right to receive settlement from the Corporation hereunder, such right shall be no
greater than the right of any unsecured general creditor of the Corporation. Neither the adoption of this Plan nor the setting aside of securities, cash or other property by the Company with which to discharge its obligations hereunder shall be
deemed to create a trust or other funded arrangement. The Company shall have the right to implement or set aside securities, cash or other property in a grantor trust, subject to the claims of the Company’s creditors, to discharge its
obligations under this Plan. 
 16.8 Construction and Interpretation. Whenever used herein, nouns in the singular shall
include the plural, and the masculine pronoun shall include the feminine gender. Whenever used herein, the word “including” shall be deemed to be followed by the phrase “without limitation.” Headings of Sections hereof are
inserted for convenience of reference and constitute no part of this Plan. 
 16.9 Severability. If any provision of this
Plan or any Award is or becomes, or is deemed by the Committee to be, invalid, illegal or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify this Plan or any Award under any law deemed applicable by the Committee,
such provision shall be construed or deemed amended to conform to the applicable laws or, if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of this Plan or such Award, such
provision shall be stricken as to such jurisdiction, Person or Award and the remainder of this Plan and such Award shall remain in full force and effect. 
 16.10 GOVERNING LAW. THE VALIDITY AND CONSTRUCTION OF THIS PLAN AND OF THE AWARD AGREEMENTS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEVADA, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS
PRINCIPLES THEREOF. 
 16.11 Fractional Shares. No fractional Shares shall be delivered pursuant to this Plan or any
Award, and the Committee shall determine whether cash or other securities shall be paid or delivered in lieu of any fractional Shares or whether any fractional Shares or rights thereto shall be canceled or otherwise eliminated. 

16.12 Assignment and Successor. The obligations of the Corporation under the Plan shall be binding upon any successor corporation
or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company. The Corporation shall take
all such actions as may be necessary so the Plan and any Award Agreement entered into hereunder is binding on its successors. 

16.13 Compliance with Law. 
 (a) Notwithstanding anything contained herein or in any Award Agreement to the contrary, the Committee may amend, supplement or cancel any Award to the extent necessary to comply with applicable law, rule
or regulation. 

  
 27 

 (b) With respect to Participants subject to Section 16 of the Exchange Act
(“Members”) transactions under this Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent that compliance with any Plan provision applicable solely to such Members
that is included solely for purposes of complying with Rule 16b-3 is not required in order to bring a transaction by such Member in compliance with Rule 16b-3, it shall be deemed null and void as to such transaction, to the extent permitted by law
and deemed advisable by the Committee. To the extent any provision in the Plan or action by the Committee involving such Members is deemed not to comply with an applicable condition of Rule 16b-3, it shall be deemed null and void as to such Members,
to the extent permitted by law and deemed advisable by the Committee. 
 16.14 Leave. If approved by the Committee, an
Employee’s absence or leave because of military or governmental service, disability or other reason shall not be considered an interruption of employment for any purpose under the Plan; provided, however, that, to the extent that an Award under
this Plan is subject to Section 409A, such absence or leave shall be considered a Separation from Service to the extent so provided by Section 409A. 
  

	17.	Effective Date, Termination and Amendment 

 17.1 Effective Date. This Plan shall become effective on the date of approval of this Plan by the Board. 
 17.2 Termination. The authority to grant new Awards under this Plan shall terminate on the date immediately preceding the tenth anniversary of the Effective Date. The Board may, at any earlier
date, terminate this Plan. No termination of this Plan shall adversely affect any Award theretofore granted, without the consent of the applicable Participant (or his permitted successor in interest). 

17.3 Amendment. The Board may, at any time and from time to time and in any respect, amend or supplement this Plan. The Board may
seek the approval of any amendment or supplement by the stockholders to the extent that it deems necessary or advisable, in its sole discretion, for purposes of compliance with the Code, the listing requirements of any securities exchange or market
or any other purpose. No amendment or supplement of this Plan shall adversely affect any Award theretofore granted without the consent of the applicable Participant (or his permitted successor in interest), unless such right has been reserved in
this Plan or such amendment or supplement is required to comply with applicable law, rule or regulation. The authority of the Committee to take any action (other than grant new Awards) hereunder shall continue after the authority for grant of new
Awards hereunder has been exhausted or terminated (and, for these purposes, new Awards do not include actions taken under Section 3.3 or Substitute Awards). 
 This Plan was adopted by the Board on February 28, 2011. 
 This Plan was approved by the
shareholders of the Corporation on March 1, 2011. 

  
 28

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]