Document:

EX-10.13

 Exhibit 10.13 

EXECUTION VERSION 
 NON-QUALIFIED STOCK OPTION AGREEMENT 
 OF 

BEACON HOLDING INC. 
 THIS
AGREEMENT (the “Agreement”) is entered into as of [                    ] (the “Grant Date”) by and between Beacon
Holding Inc., a Delaware corporation (the “Company”) and [                    ], an employee, consultant or director of the Company
or one of its Subsidiaries (hereinafter referred to as the “Optionee”). 
 WHEREAS, the Board of Directors of the Company
has approved the 2011 Stock Option Plan of Beacon Holding Inc. (as it may be amended from time to time, the “Plan”), the terms of which are hereby incorporated by reference and made a part of this Agreement; 

WHEREAS, the Committee appointed to administer the Plan pursuant to Section 6.1 of the Plan (the “Committee”) has
determined that it would be to the advantage and best interest of the Company and its shareholders to grant the Non-Qualified Stock Option provided for herein to the Optionee as an inducement to enter into or
remain in the service of the Company or one of its Subsidiaries and as an incentive for increased efforts during such service, and has advised the Company thereof and instructed the undersigned officers to issue said Option; and 

WHEREAS, the Optionee has entered into a Management Stockholders Agreement with the Company. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties hereto do hereby agree as follows: 
 ARTICLE I. 

DEFINITIONS 

Whenever the following terms are used in this Agreement, they shall have the meaning specified below unless the context clearly indicates to
the contrary. Capitalized terms used in this Agreement and not defined below shall have the meaning given such terms in the Plan. The singular pronoun shall include the plural, where the context so indicates. 

Section 1.1    “Cause” shall have the meaning provided in the Optionee’s
Change in Control Severance Agreement as in effect on the date hereof with the Company or a Subsidiary of the Company, as applicable, or if the Optionee does not have such a Change in Control Severance Agreement, but is a participant in the Change
of Control Severance Benefit Plan for Key Employees in effect as of the date hereof (the “Severance Plan”), “Cause” shall have the meaning provided in the Severance Plan, or if “Cause” is not defined therein or
the Optionee is not a participant in the Severance Plan, then “Cause” shall mean the Optionee’s failure to substantially perform the Optionee’s duties as reasonably determined by the Board (other than as a result of the
Optionee’s Disability); materially dishonest statements or acts of the Optionee with respect to the Company or any of its Subsidiaries or Affiliates; the commission by the Optionee of an act constituting a felony under the laws of the United
States or any state thereof; gross negligence, willful misconduct or insubordination of the Optionee with respect to the Company or any of its Subsidiaries or Affiliates; or any other act or omission which is materially injurious to the financial
condition or business reputation of the Company or any of its Subsidiaries or Affiliates. 

 Section 1.2    “Change in
Control” shall mean (i) the sale of all or substantially all of the assets of the Company, BJ’s Wholesale Club, Inc. (“BJs”) or any wholly-owned Subsidiary interposed between the Company and BJs (an
“Intermediate Subsidiary”) to any other Person (other than the Company, any of its Subsidiaries, the Principal Stockholders or any of their Affiliates, or any employee benefit plan maintained by the Company or any of its
Subsidiaries), or (ii) a change in beneficial ownership or control of the Company, BJs or any Intermediate Subsidiary effected through a transaction or series of transactions (other than an offering of Common Stock or other securities to the
general public through a registration statement filed with the Securities and Exchange Commission) whereby (A) any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of
the Exchange Act) (other than the Company, any of its Subsidiaries, the Principal Stockholders or any of their Affiliates, or any employee benefit plan maintained by the Company or any of its Subsidiaries), directly or indirectly acquires beneficial
ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company, BJs or any Intermediate Subsidiary possessing more than 50% of the total combined voting power of such
entity’s securities outstanding immediately after such acquisition, or (B) following an initial public offering, the Principal Stockholders and their respective Affiliates directly or indirectly hold beneficial ownership of securities of
each of the Company, BJs and any Intermediate Subsidiary possessing less than 10% of the total combined voting power of such entity’s voting securities outstanding immediately after such transaction or series of transactions. 

Section 1.3    “Committee” shall have the meaning set forth in the Recitals
hereto. 
 Section 1.4    “Company” shall have the meaning set forth in the
preamble hereto. 
 Section 1.5    “Confidential Information” shall have the
meaning set forth in Section 4.1. 
 Section 1.6    “Disability” shall
mean permanent disability or incapacity as determined in accordance with the Company’s disability insurance policy, if such a policy is then in effect, or if no such policy is then in effect, such permanent disability or incapacity shall be
determined by the Board in its good faith judgment based upon inability to perform the essential functions of his or her position, with reasonable accommodation by the Company, for a period in excess of 180 days during any period of 365 calendar
days. 
 Section 1.7    “EBITDA” for a given period shall mean earnings
before interest, taxes, depreciation and amortization plus transaction, management and/or similar fees paid to the Principal Stockholders and/or their Affiliates (so long as such fees are treated as expenses in the calculation of earnings), together
with such adjustments as the Committee shall determine appropriate in its discretion after good faith consultation with the Chief Executive Officer and/or Chief Financial Officer, including adjustments consistent with the basis on which the EBITDA
Targets were originally established. For the avoidance of doubt, no amounts related to discontinued operations under GAAP are to be included in the calculation of EBITDA or EBITDA Targets; provided that such operations were classified as
discontinued operations prior to [            ]. “Cumulative EBITDA” as of a given date shall mean the total EBITDA from and after
[            ] through such date. 

  
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 Section 1.8     “EBITDA
Target” for each fiscal year ending in [    ] through [        ] shall be the amount set forth on Exhibit A. “Cumulative EBITDA Target” as of a given date
shall mean the total EBITDA Target from and after [            ] through such date. 

Section 1.9    “Fair Market Value” shall have the meaning set forth in the
Plan; provided that, if Common Stock is not publicly traded on an exchange and not quoted on a quotation system, Fair Market Value shall be determined in accordance with (and is subject to disagreement procedures set forth in) the Management
Stockholders Agreement. 
 Section 1.10    “Good Reason” shall have the
meaning provided in the Optionee’s Change in Control Severance Agreement as in effect on the date hereof with the Company or a Subsidiary of the Company, as applicable, or if the Optionee does not have such a Change in Control Severance
Agreement, but is a participant in the Severance Plan, “Good Reason” shall have the meaning provided in the Severance Plan, or if “Good Reason” is not defined therein or the Optionee is not a participant in the Severance Plan,
then “Good Reason” shall mean any material adverse change by the Company in the Optionee’s job title, duties, responsibility or authority; failure by the Company to pay to the Optionee any material amount of base salary or
bonus when due; any material diminution of the Optionee’s base salary (other than such a material diminution that is applied on a substantially comparable basis to similarly-situated employees of the Company or a Subsidiary of the Company); the
termination or denial of the Optionee’s right to participate in employment related benefits that are offered similarly-situated employees of the Company or a Subsidiary of the Company; the movement of the Optionee’s principal location of
work to a new location that is in excess of thirty-five (35) miles from the Optionee’s principal location of work as of the date that the Optionee becomes a party to this Agreement without the Optionee’s consent; provided that
none of the events described in this definition of Good Reason shall constitute Good Reason unless the Optionee notifies the Company in writing of the event that is purported to constitute Good Reason (which notice is provided not later than the
30th day following the occurrence of the event purported to constitute Good Reason) and then only if the Company fails to cure such event within 30 days after the Company’s receipt of such written notice. 

Section 1.11    “Grant Date” shall have the meaning set forth in the preamble
hereto. 
 Section 1.12    “Investment” shall mean the investment of funds on
the Closing Date (as defined in the Merger Agreement) by the Principal Stockholders in exchange for Investment Securities. 

Section 1.13    “Investment Securities” shall mean the debt and equity
securities of the Company and its Subsidiaries purchased on the Closing Date by the Principal Stockholders. 

Section 1.14    “Investor Return” shall mean the annual compounded pre-tax internal rate of return on the Investment determined with respect to the period beginning on the Closing Date and ending on the effective date of a Change in Control. 

Section 1.15    “Option” shall mean the
non-qualified stock option to purchase Common Stock granted under this Agreement. 

Section 1.16    “Optionee” shall have the meaning set forth in the preamble
hereto. 

  
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 Section 1.17     “Plan” shall
have the meaning set forth in the Recitals hereto. 

Section 1.18    “Proceeds” shall mean the aggregate fair market value of the
consideration received in respect of the Investment Securities by the Principal Stockholders prior to or in connection with a Change in Control, after taking into account all post closing adjustments, and assuming exercise of all options and
warrants outstanding as of the effective date of such Change in Control (after giving effect to any dilution of securities or instruments arising in connection with such Change in Control); provided, however, that if the Principal
Stockholders retain any portion of the Investment following such Change in Control, the fair market value of such portion of the Investment immediately following such Change in Control shall be deemed “consideration received” for purposes
of calculating the Proceeds; and provided, further, that the fair market value of any non-cash consideration (including stock) shall be determined as of the date of such Change in Control. 

Section 1.19    “Target Amount” shall mean, with respect to the Investment, a
dollar amount representing either: 
 (a)    both (i) 2.5 times the amount of the Investment and
(ii) a 25% Investor Return on the Investment; or 
 (b)    3.5 times the amount of the Investment.

 Section 1.20    “Third Party Information” shall have the meaning set forth
in Section 4.3. 
 Section 1.21    “Work Product” shall have the meaning
set forth in Section 4.2. 
 ARTICLE II. 

GRANT OF OPTION 

Section 2.1    Grant of Option. In consideration of the Optionee’s agreement to
enter into or remain in the employ of, consultancy to or other service relationship with the Company or one of its Subsidiaries, and for other good and valuable consideration, as of the Grant Date, the Company irrevocably grants to the Optionee the
Option to purchase any part or all of an aggregate of [            ] shares of Common Stock upon the terms and conditions set forth in the Plan and this Agreement. 

Section 2.2    Option Subject to Plan. The Option granted hereunder is subject to the
terms and provisions of the Plan, including without limitation, Article V and Sections 7.1, 7.2 and 7.3 thereof. 

Section 2.3    Option Price. The purchase price of the shares of Common Stock covered by
the Option shall be [                    ] per share (without commission or other charge), which is not less than 100% of Fair Market Value as of the
Grant Date. 

  
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 ARTICLE III. 

EXERCISABILITY 

Section 3.1    Commencement of Exercisability. 

Section 3.2    Duration of Exercisability. The installments provided for in
Section 3.1 are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until it becomes unexercisable. 

Section 3.3    Expiration of Option. The Option may not be exercised to any extent by
anyone after, and shall expire on, the first to occur of the following events: 
 (a)    The tenth anniversary of the
Grant Date; or 
 (b)    Except for such longer period as the Committee may otherwise approve, upon the Optionee’s
Termination of Services for any reason other than (i) termination by the Company for Cause or (ii) due to the Optionee’s death or Disability, (A) if such Termination of Services occurs after January 31 of any fiscal year
ending in [            ] through [        ], but prior to the Committee’s determination of EBITDA for such fiscal year, the 90th day following
the Committee’s determination of EBITDA for such fiscal year or (B) if such Termination of Services occurs at any other time, the 90th day following the date of such Termination of Services; or 

(c)    Notwithstanding the provisions of Section 3.1, in the event of the Optionee’s Termination of Services by
the Company for Cause, the Optionee shall, immediately prior to such Termination of Services (and subject to such Termination of Services), forfeit the Option, whether vested or unvested; or 

(d)    In the case of a Termination of Services due to the Optionee’s death or Disability, (i) if such
Termination of Services occurs after January 31 of any fiscal year ending in [            ] through [        ], but prior to the
Committee’s determination of EBITDA for such fiscal year, the expiration of one year from the Committee’s determination of EBITDA for such fiscal year or (ii) if such Termination of Services occurs at any other time, the expiration of
one year from the date of the Optionee’s Termination of Services; or 
 (e)    The date the Optionee first violates
any of the restrictive covenants set forth in Article IV. 
 Section 3.4    Partial
Exercise. Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable; provided,
however, that each partial exercise shall be for not less than 10 shares of Common Stock and shall be for whole shares of Common Stock only. 

Section 3.5    Exercise of Option. The exercise of the Option shall be governed by the
terms of this Agreement and the terms of the Plan, including, without limitation, the provisions of Article V of the Plan; provided that, with respect to the Option covered by this Agreement: (a) payment for the shares with respect to
which the Option is exercised may be made in the form of shares of Common Stock issuable to the Optionee upon exercise of the Option, with a Fair 

  
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Market Value on the date of Option exercise equal to the aggregate Option price of the shares with respect to which such Option or portion is thereby exercised and (b) payment of withholding
tax obligations arising in connection with the exercise of the Option may be made by the Optionee electing to have the Company withhold from the Common Stock to be issued that number of shares of Common Stock having a Fair Market Value equal to the
amount required to be withheld (based on minimum applicable statutory withholding rates), determined on the date that the amount of tax to be withheld is determined. 

ARTICLE IV. 

RESTRICTIVE COVENANTS 

Section 4.1    Obligation to Maintain Confidentiality. Optionee acknowledges that the
confidential or proprietary information and data (including trade secrets) of the Company or any of its Subsidiaries or Affiliates obtained by Optionee while employed by or in the service of the Company or any of its Subsidiaries or Affiliates
(including, without limitation, prior to the date of this Agreement) (“Confidential Information”) are the property of the Company or such Subsidiaries or Affiliates, including information concerning acquisition opportunities in or
reasonably related to the Company’s, or such Subsidiaries’ or Affiliates’ business or industry of which Optionee becomes aware during the period of Optionee’s employment or service. Therefore, Optionee agrees that he or she will
not disclose to any unauthorized person, group or entity or use for Optionee’s own account any Confidential Information without the Company’s written consent, unless and to the extent that the Confidential Information, (a) becomes
generally known to and available for use by the public other than as a result of Optionee’s acts or omissions to act, (b) was known to Optionee prior to Optionee’s employment or service with the Company or any of its Subsidiaries and
Affiliates, or (c) is required to be disclosed pursuant to any applicable law or court order. Optionee shall use reasonable best efforts to deliver to the Company on the date of his or her Termination of Services, or at any other time the
Company may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof) relating to the Confidential Information, Work Product (as defined below) or the business of
the Company and its Subsidiaries and Affiliates (including, without limitation, all acquisition prospects, lists and contact information) which Optionee may then possess or have under his or her control, but excluding financial information of the
Company relating to Optionee’s ownership of shares of Common Stock, which information will nonetheless continue to constitute Confidential Information. 

Section 4.2    Ownership of Property. Optionee acknowledges that all discoveries,
concepts, ideas, inventions, innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether or not including any Confidential Information)
and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) that relate to the Company’s or any of its Subsidiaries’ or Affiliates’ actual
or anticipated business, research and development, or existing or future products or services and that were or are conceived, developed, contributed to, made, or reduced to practice by Optionee (either solely or jointly with others) while employed
by or in the service of the Company or any of its Subsidiaries or Affiliates (including, without limitation, prior to the date of this Agreement) (including any of the foregoing that constitutes any proprietary

  
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information or records) (“Work Product”) belong to the Company or such Subsidiary or Affiliate and Optionee hereby assigns, and agrees to assign, all of the above Work Product to
the Company or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Optionee in the course of Optionee’s work for any of the foregoing entities shall be deemed a “work made for hire” under the
copyright laws, and the Company or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable work is not a “work made for hire,” Optionee hereby assigns and agrees to assign to the Company or such
Subsidiary or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work. Optionee shall as promptly as practicable under the circumstances disclose such Work Product and copyrightable work to
the Company and perform all actions reasonably requested by the Company (whether during or after Optionee’s employment with or service to the Company and its Subsidiaries and Affiliates) to establish and confirm the Company’s or such
Subsidiary’s or Affiliate’s ownership (including, without limitation, assignments, consents, powers of attorney, and other instruments). 

Section 4.3    Third Party Information. Optionee understands that the Company and its
Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s and its Subsidiaries and Affiliates’ part to maintain the
confidentiality of such information and to use it only for certain limited purposes. During the period of Optionee’s employment with or service to the Company or its Subsidiaries or Affiliates and thereafter, and without in any way limiting the
provisions of Section 4.1 above, Optionee will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel and consultants of the Company or its Subsidiaries and Affiliates who need to know
such information in connection with their work for the Company or its Subsidiaries and Affiliates) or use, except in connection with Optionee’s work for the Company or its Subsidiaries and Affiliates, Third Party Information unless expressly
authorized by the Company in writing or unless and to the extent that the Third Party Information, (a) becomes generally known to and available for use by the public other than as a result of Optionee’s acts or omissions to act,
(b) was known to Optionee prior to Optionee’s employment with or service to the Company or any of its Subsidiaries and Affiliates, or (c) is required to be disclosed pursuant to any applicable law or court order. 

Section 4.4    Use of Information of Prior Employers. During Optionee’s employment
with and/or services, Optionee will not improperly use or disclose any confidential information or trade secrets, if any, of any former employers or any other person to whom Optionee has an obligation of confidentiality, and will not bring onto the
premises of the Company, its Subsidiaries or Affiliates any unpublished documents or any property belonging to any former employer or any other person to whom Optionee has an obligation of confidentiality unless consented to in writing by the former
employer or person. Optionee will use in the performance of Optionee’s duties only information which is (a)(i) common knowledge in the industry or (ii) otherwise legally in the public domain, (b) otherwise provided or developed by the
Company, its Subsidiaries or Affiliates or (c) in the case of materials, property or information belonging to any former employer or other person to whom Optionee has an obligation of confidentiality, approved for such use in writing by such
former employer or person. 

  
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 Section 4.5    Nonsolicitation.
Optionee acknowledges that, in the course of Optionee’s employment and/or services, Optionee will become familiar with the Company’s and its Subsidiaries’ and Affiliates’ trade secrets and with other confidential information
concerning the Company and its Subsidiaries and Affiliates and that Optionee’s services will be of special, unique and extraordinary value to the Company and its Subsidiaries and Affiliates. Therefore, Optionee agrees that: 

(a)    Restriction. While employed or engaged by the Company or any of its Subsidiaries or Affiliates, and for a
period beginning on the date of Optionee’s Termination of Services for any reason and ending on the second anniversary of such date of Termination of Services, Optionee shall not directly or indirectly through another entity (i) induce or
attempt to induce any employee of the Company or its Subsidiaries or Affiliates to leave the employ of the Company or any of its Subsidiaries or Affiliates, or in any way interfere with the relationship between the Company or its Subsidiaries or
Affiliates and any employee thereof, and (ii) hire any person who was an employee of the Company or any of its Subsidiaries or Affiliates within 180 days prior to the time such employee was hired by Optionee, (iii) induce or attempt to
induce any customer, supplier, licensee or other business relation of the Company or its Subsidiaries or Affiliates to cease doing business with the Company or its Subsidiaries or Affiliates or in any way interfere with the relationship between any
such customer, supplier, licensee or business relation and the Company or its Subsidiaries or Affiliates or (iv) directly or indirectly acquire or attempt to acquire an interest in any business relating to the business of the Company or its
Subsidiaries or Affiliates and with which the Company, its Subsidiaries or Affiliates has entered into substantive negotiations or has requested and received confidential information relating to the acquisition of such business by the Company, its
Subsidiaries or Affiliates in the two-year period immediately preceding Optionee’s Termination of Services with the Company or any of its Subsidiaries or Affiliates. 

(b)    Enforcement. If, at the time of enforcement of Section 4.5(a), a court holds that the restrictions
stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area and that
the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Optionee agrees that because his or her services are unique and Optionee has access to confidential information,
money damages would be an inadequate remedy for any breach of this Article IV. Optionee agrees that the Company, its Subsidiaries and Affiliates, in the event of a breach or threatened breach of this Article IV, may seek injunctive or other
equitable relief in addition to any other remedy available to them in a court of competent jurisdiction without posting bond or other security. 

(c)    Non-disparagement. Optionee agrees that at no time during his
employment or engagement by the Company or any of its Subsidiaries or Affiliates or thereafter, shall he make, or cause or assist any other person to make, any statement or other communication to any third party which impugns or attacks, or is
otherwise critical of, in any material respect, the reputation, business or character of the Company or any of its Subsidiaries or Affiliates or any of their respective directors, officers or employees; provided that Optionee shall not be
required to make any untruthful statement or to violate any law. 

Section 4.6    Acknowledgments. Optionee acknowledges that the provisions of this Article
IV are (a) in addition to, and not in limitation of, any obligation of Optionee’s under the terms of any employment agreement with the Company or any of its Subsidiaries or Affiliates, 

  
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(b) in consideration of (i) employment with or engagement by the Company or any of its Subsidiaries or Affiliates, (ii) the issuance of the Option by the Company and
(iii) additional good and valuable consideration as set forth in this Agreement. In addition, Optionee agrees and acknowledges that the restrictions contained in Article IV do not preclude Optionee from earning a livelihood, nor do they
unreasonably impose limitations on Optionee’s ability to earn a living. Optionee agrees and acknowledges that the potential harm to the Company or its Subsidiaries or Affiliates of the non-enforcement of
this Article IV outweighs any potential harm to Optionee of its enforcement by injunction or otherwise. Optionee acknowledges that he or she has carefully read this Agreement and has given careful consideration to the restraints imposed upon
Optionee by this Agreement, and is in full accord as to their necessity for the reasonable and proper protection of confidential and proprietary information of the Company, and its Subsidiaries and Affiliates now existing or to be developed in the
future. Optionee expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period and geographical area. 

Section 4.7    Forfeiture. Notwithstanding anything contained in this Agreement to the
contrary, if Optionee violates any of the restrictive covenants set forth in Section 4.5(a), then Optionee shall pay to the Company in cash any financial gain Optionee realizes from exercising all or a portion of this Option. For purposes of
this Section 4.7, “financial gain” shall equal any excess of the Fair Market Value of the Common Stock on the date of exercise over the purchase price set forth in Section 2.3, multiplied by the number of shares of Common
Stock purchased pursuant to the exercise (without reduction for any shares of Common Stock surrendered). By accepting this Option, Optionee consents to and authorizes the Company to deduct from any amounts payable by the Company to Optionee any
amounts Optionee owes to the Company under this Section 4.7. This right of set-off is in addition to any other remedies the Company may have against Optionee for Optionee’s breach of this Agreement.
Optionee’s obligations under this Section 4.7 shall be cumulative (but not duplicative) of any similar obligations Optionee have pursuant to this Agreement or any other agreement with the Company. 

ARTICLE V. 
 OTHER
PROVISIONS 
 Section 5.1    Not a Contract of Employment. Nothing in this
Agreement or in the Plan shall confer upon the Optionee any right to continue in the employ of, or providing services to, the Company or any of its Subsidiaries or shall interfere with or restrict in any way the rights of the Company or its
Subsidiaries, which are hereby expressly reserved, to discharge the Optionee at any time for any reason whatsoever, with or without Cause, except as may otherwise be provided by any written agreement entered into by and between the Company and the
Optionee. 
 Section 5.2    Shares Subject to Plan and Management Stockholders Agreement;
Entire Agreement. The Optionee acknowledges that any shares acquired upon exercise of the Option are subject to the terms of the Plan and the Management Stockholders Agreement. The terms of this Agreement are intended by the parties to be the
final expression of their agreement with respect to the subject matter hereof and may not be contradicted by evidence of any prior or contemporaneous agreement. The parties further intend that this Agreement (together with the Plan and the
Management Stockholders Agreement) shall constitute the complete and exclusive statement of its terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this
Agreement. 

 Section 5.3    Construction. This
Agreement shall be administered, interpreted and enforced under the internal laws of the State of Delaware, without regard to the principles of conflicts of law thereof, or principles of conflicts of law of any other jurisdiction which could cause
the application of the laws of any jurisdiction other than the State of Delaware. 

Section 5.4    Conformity to Securities Laws. The Optionee acknowledges that the Plan is
intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, including without limitation Rule 16b-3. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

Section 5.5    Amendment, Suspension and Termination. The Option may be wholly or
partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board, provided that, except as provided by Section 7.1 of the Plan, none of the amendment, suspension or
termination of this Agreement shall, without the consent of the Optionee, alter or impair any rights or obligations under the Option. 

Section 5.6    Adjustments in EBITDA Targets. The EBITDA Targets (including the
Cumulative EBITDA Targets) specified in Exhibit A are based upon certain revenue and expense assumptions about the future business of the Company as of the Grant Date. Accordingly, in the event that, after such date, the Committee
determines, in its discretion, after good faith consultation with the Chief Executive Officer and/or Chief Financial Officer, that adjustments to the EBITDA Targets (including the Cumulative EBITDA Targets) are required, such adjustments will be
made by the Committee. Reasons for such adjustments may include, without limitation, the following factors (to the extent not already reflected in establishing the EBITDA Targets and Cumulative EBITDA Targets): any restructuring of the
Company’s operations (including reductions in force and store closure costs); unrealized mark-to-market on hedging instruments; the impact of any sale-leaseback
transactions of real or other property; any acquisition or divestiture of a group of one or more stores, a major administrative unit, major line of business or major assets outside of the ordinary course of business; the effect of any non-cash charges, such as impairment of real or intangible assets or stock compensation charges, or any non-cash income items; any effects of adjustments in the Company’s
consolidated financial statements pursuant to GAAP resulting from the application of purchase accounting; any extraordinary items in accordance with GAAP; and any changes to GAAP to comply with new legislation or rules promulgated by the Securities
and Exchange Commission, the Financial Accounting Standards Board, or any similar or successor entity. In any event, and notwithstanding anything herein to the contrary, the Committee shall have the discretion to make any adjustments to the
calculation of EBITDA as it deems fair and appropriate. The Committee’s determination of such fair and appropriate adjustment(s) shall be made within 90 days following the delivery of the audit report for the fiscal year first impacted by
the adjustment, and shall be based on the Company’s accounting as set forth in its books and records. 

  
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 Section 5.7    Section 409A. To the
extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of this Agreement to the
contrary, in the event that the Committee determines that this Option may be subject to Section 409A of the Code, the Committee may adopt such amendments to this Agreement or adopt other policies and procedures (including amendments, policies
and procedures with retroactive effect), or take any other actions that the Committee determines are necessary or appropriate to (a) exempt the Option from Section 409A of the Code and/or preserve the intended tax treatment of the benefits
provided with respect to the Option, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of penalty taxes under such Section 409A of the Code;
provided that the Committee shall notify the Optionee in writing of any amendment, policy or procedure so adopted that adversely alters or impairs the Optionee’s rights and the Optionee may reject the application of such amendment,
policy or procedure by written notice to the Company, it being understood that the Optionee will thereby accept any risk of adverse tax treatment and indemnify the Company for any taxes, interest and penalties incurred by the Company in relation to
such adverse tax treatment. Notwithstanding anything herein to the contrary, no provision of this Agreement shall be interpreted or construed to transfer any liability for failure to comply with the requirements of Section 409A of the Code from
the Optionee or other Person to the Company or any of its Affiliates, employees or agents. 
 [signature page follows] 

  
 11 

 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto as
of the date first above written. 
  

			
	BEACON HOLDING INC.

 
			
		
	By:	 	  

		
	Its:	 	

 
			
	  

	
	  

			
	[Optionee]
	
	Residence Address:
	
	  

	
	  

	
	Optionee’s Social Security Number:EX-10.14

 Exhibit 10.14 

2012 DIRECTOR STOCK OPTION PLAN 

OF 
 BEACON HOLDING INC.

 Beacon Holding Inc., a Delaware corporation, hereby adopts this 2012 Director Stock Option Plan of Beacon Holding Inc. (as amended
from time to time, the “Plan”). The purposes of the Plan are as follows: 
 (1)     To further the
growth, development and financial success of the Company (as defined herein) and its Subsidiaries (as defined herein) by providing additional incentives to Independent Directors (as such term is defined below) of the Company and its Subsidiaries who
have been or will be given responsibility for the administration of the Company’s or one of its Subsidiaries’ business affairs, by assisting them to become owners of Common Stock (as defined herein), thereby enabling them to benefit
directly from the growth, development and financial success of the Company and its Subsidiaries. 
 (2)     To enable
the Company and its Subsidiaries to obtain and retain the services of the type of professional Independent Directors considered essential to the long-range success of the Company and its Subsidiaries by providing and offering them an opportunity to
become owners of Common Stock through the exercise of Options (as defined herein). 
 ARTICLE I. 

DEFINITIONS 

Whenever the following terms are used in this Plan, they shall have the meaning specified below unless the context clearly indicates to the
contrary. The singular pronoun shall include the plural where the context so indicates. 

Section 1.1    “Affiliate” shall mean, with respect to any Person, any other
Person directly or indirectly controlling, controlled by, or under common control with, such Person where “control” shall have the meaning given such term under Rule 405 of the Securities Act. 

Section 1.2    “Board” shall mean the Board of Directors of the Company. 

Section 1.3    “Change in Control” shall mean (a) the sale of all or
substantially all of the assets of the Company, BJ’s Wholesale Club, Inc. (“BJs”) or any wholly-owned Subsidiary interposed between the Company and BJs (an “Intermediate Subsidiary”) to any other Person (other
than the Company, any of its Subsidiaries, the Principal Stockholders or any of their Affiliates, or any employee benefit plan maintained by the Company or any of its Subsidiaries), or (b) a change in beneficial ownership or control of the
Company, BJs or any Intermediate Subsidiary effected through a transaction or series of transactions (other than an offering of Common Stock or other securities to the general public through a registration statement filed with the Securities and
Exchange Commission) whereby (i) any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any of its Subsidiaries, the
Principal Stockholders or any of their Affiliates, or any employee benefit plan maintained by the Company or any of its Subsidiaries), directly or indirectly acquires beneficial ownership (within the meaning of Rule
13d-3 under the Exchange Act) of securities of the Company, BJs or any Intermediate Subsidiary possessing more than 

 
50% of the total combined voting power of such entity’s securities outstanding immediately after such acquisition, or (ii) following an initial public offering, the Principal
Stockholders and their respective Affiliates directly or indirectly hold beneficial ownership of securities of each of the Company, BJs and any Intermediate Subsidiary possessing less than 10% of the total combined voting power of such entity’s
voting securities outstanding immediately after such transaction or series of transactions. 

Section 1.4    “Class A Stock” shall mean the common stock
of the Company designated as Class A Common Stock, par value $0.01 per share. 

Section 1.5    “Class B Stock” shall mean the common stock
of the Company designated as Class B Common Stock, par value $0.01 per share. 

Section 1.6    “Code” shall mean the Internal Revenue Code of 1986, as amended.

 Section 1.7    One share of “Common Stock” shall mean (a) prior to
the effectiveness of the actions set forth in Section 9.01 of the Stockholders Agreement, one share of Class A Stock and one share of Class B Stock and (b) following the effectiveness of the actions set forth in Section 9.01
of the Stockholders Agreement, one share of the common stock of the Company, par value $0.01 per share. 

Section 1.8    “Company” shall mean Beacon Holding Inc., a Delaware
corporation. 
 Section 1.9    “Director” shall mean a member of the
Board. 
 Section 1.10    “Eligible Representative” for an Optionee shall mean
such Optionee’s personal representative or such other person as is empowered under the deceased Optionee’s will or the then applicable laws of descent and distribution to represent the Optionee hereunder. 

Section 1.11    “Employee” shall mean, with respect to any entity, any employee
of such entity (as defined in accordance with the regulations and revenue rulings then applicable under Section 3401(c) of the Code). 

Section 1.12    “Equity Restructuring” shall mean a non-reciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large,
non-recurring cash dividend, that affects the shares of Common Stock (or other securities of the Company) or the share price of the Common Stock (or other securities) and causes a change in the per share value of the Common Stock underlying
outstanding Options. 
 Section 1.13    “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended. 
 Section 1.14    “Fair Market
Value” of a share of Common Stock as of a given date shall be: 
 (a)    The closing price of a share of Common
Stock on the New York Stock Exchange, Nasdaq or such other principal exchange on which such shares are then trading, if any 

  
 2 

 
(or as reported on any composite index which includes the New York Stock Exchange, Nasdaq or such other principal exchange), for the most recent trading day prior to such determination date on
which a sale occurred; or 
 (b)     If Common Stock is not traded on an exchange but is quoted on a quotation system,
the mean between the closing representative bid and asked prices for a share of Common Stock on the most recent trading day prior to such determination date on which sales prices or bid and asked prices, as applicable, as reported by such quotation
system; or 
 (c)     Unless otherwise set forth in the applicable Stock Option Agreement, if Common Stock is not
publicly traded on an exchange and not quoted on a quotation system, the fair market value of a share of Common Stock as determined by the Board in its sole discretion. 

Section 1.15    “Independent Director” shall mean a member of the Board who is
not an Employee of the Company or any of its Subsidiaries. 
 Section 1.16    “Initial
Public Offering” shall mean the first issuance by the Company of any class of common equity securities that is required to be registered (other than on a Form S-8) under Section 12 of the
Exchange Act. 
 Section 1.17    “Management Stockholders Agreement” shall
mean an agreement by and between the Optionee and the Company which contains certain restrictions and limitations applicable to the shares of Common Stock acquired upon Option exercise (and/or to other shares of Common Stock, if any, held by the
Optionee during the term of such agreement), the terms of which shall be determined by the Board in its discretion. 

Section 1.18    “Non-Qualified Stock
Option” shall mean an Option which is not an “incentive stock option” within the meaning of Section 422 of the Code. 

Section 1.19    “Officer” shall mean an officer of the Company, as defined in
Rule 16a- l(f) under the Exchange Act, as such Rule may be amended from time to time. 

Section 1.20    “Option” shall mean an option granted under the Plan to
purchase Common Stock. 
 Section 1.21    “Optionee” shall mean an
Independent Director to whom an Option is granted under the Plan. 

Section 1.22    “Person” shall mean an individual, partnership, corporation,
limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, governmental authority or other entity of whatever nature. 

Section 1.23    “Principal Stockholders” shall mean Green Equity Investors V,
L.P., Green Equity Investors Side V, L.P., Beacon Coinvest LLC, and CVC Beacon LLC. 

Section 1.24    “Rule 16b-3” shall mean Rule
16b-3 promulgated under the Exchange Act, as such Rule may be amended from time to time. 

  
 3 

 Section 1.25    “Securities
Act” shall mean the Securities Act of 1933, as amended.  

Section 1.26    “Stock Option Agreement” shall have the meaning set forth in
Section 4.1. 
 Section 1.27    “Stockholders Agreement” shall mean that
certain Stockholders Agreement by and among the Company and the Principal Stockholders, dated as of September 30, 2011, as may be amended from time to time. 

Section 1.28    “Subsidiary” of any entity shall mean any corporation in an
unbroken chain of corporations beginning with such entity if each of the corporations other than the last corporation in the unbroken chain then owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain. 
 Section 1.29    “Termination of
Directorship” shall mean the time when an Optionee ceases to be a Director for any reason, including but not by way of limitation, a termination by resignation, failure to be elected or appointed, death or retirement. The Board, in its sole
discretion, shall determine the effect of all matters and questions relating to Termination of Directorship. 
 ARTICLE II. 

 SHARES SUBJECT TO PLAN 

Section 2.1     Shares Subject to Plan. The shares of stock subject to Options shall be
shares of Common Stock. Subject to Section 7.1, the aggregate number of such shares which may be issued upon exercise of Options shall not exceed 25,000 shares of Common Stock, which, for the avoidance of doubt, consist of 25,000 shares of
Class A Stock and 25,000 shares of Class B Stock as of the date of adoption of the Plan. 

Section 2.2     Unexercised Options. If any Option (or portion thereof) expires or is
canceled without having been fully exercised, the number of shares of Common Stock subject to such Option (or portion thereof), but as to which such Option was not exercised prior to its expiration or cancellation, may again be optioned hereunder,
subject to the limitations of Section 2.1. 
 ARTICLE III.  

GRANTING OF OPTIONS 

Section 3.1    Eligibility. Any Independent Director shall be eligible to be granted
Options. 
 Section 3.2    Form of Stock Options. All Options granted under the Plan
shall be Non-Qualified Stock Options. 

Section 3.3    Granting of Options to Independent Directors 

(a)    The Board may from time to time: 

(i)    Select from among the Independent Directors (including those to 

  
 4 

 
whom Options have previously been granted under the Plan) such of them as in its opinion should be granted Options; 

(ii)    Determine the number of shares of Common Stock to be subject to such Options granted to such selected Independent
Directors; and 
 (iii)    Determine the terms and conditions of such Options, consistent with the Plan. 

(b)     Upon the selection of an Independent Director to be granted an Option pursuant to Section 3.3(a), the Board
shall instruct the corporate secretary or another authorized Officer of the Company to issue such Option and may impose such conditions on the grant of such Option as it deems appropriate. Without limiting the generality of the preceding sentence,
the Board may require as a condition to the grant of an Option to an Independent Director that the Independent Director surrender for cancellation some or all of the unexercised Options which have been previously granted to him or her. An Option the
grant of which is conditioned upon such surrender may have an Option price lower (or higher) than the Option price of the surrendered Option, may cover the same (or a lesser or greater) number of shares as the surrendered Option, may contain such
other terms as the Board deems appropriate, and shall be exercisable in accordance with its terms, without regard to the number of shares, price, period of exercisability or any other term or condition of the surrendered Option. 

ARTICLE IV.  

TERMS OF OPTIONS 

Section 4.1    Stock Option Agreement. Each Option shall be evidenced by a written stock
option agreement (“Stock Option Agreement”), which shall be executed by the Optionee and an authorized Officer of the Company and which shall contain such terms and conditions as the Board shall determine, consistent with the Plan.

 Section 4.2    Exercisability of Options 

(a)         Each Option shall become exercisable according to the terms of the applicable Stock Option
Agreement; provided, however, that by a resolution adopted after an Option is granted the Board may, on such terms and conditions as it may determine to be appropriate, accelerate the time at which such Option or any portion thereof
may be exercised. 
 (b)         Except as otherwise provided in the applicable Stock Option
Agreement, no portion of an Option which is unexercisable at Termination of Directorship shall thereafter become exercisable. 

Section 4.3    Option Price. The price of the shares subject to each Option shall be set
by the Board. 

  
 5 

 Section 4.4     Expiration of Options.
No Option may be exercised to any extent by anyone after the expiration of ten years from the date the Option was granted (or such earlier date as may be set forth in any applicable Stock Option Agreement). 

Section 4.5     At-Will Engagement. Nothing in the Plan or in any Stock Option Agreement
hereunder shall confer upon any Optionee any right to continue as an Independent Director to the Company or any Subsidiary thereof, or shall interfere with or restrict in any way the rights of the Company and any Subsidiary thereof, which are hereby
expressly reserved, to discharge any Optionee at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Optionee and the Company or any Subsidiary thereof. 

ARTICLE V.  

EXERCISE OF OPTIONS 

Section 5.1     Person Eligible to Exercise. During the lifetime of the Optionee, only he
or she may exercise an Option (or any portion thereof); provided, however, that the Optionee’s Eligible Representative may exercise such Optionee’s Option during the period of his or her disability. After the death of the
Optionee, any exercisable portion of an Option may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Stock Option Agreement, be exercised by his or her Eligible Representative. 

Section 5.2     Partial Exercise. At any time and from time to time prior to the time
when the Option becomes unexercisable under the Plan or the applicable Stock Option Agreement, the exercisable portion of an Option may be exercised in whole or in part; provided, however, that the Company shall not be required to
issue fractional shares and the Board may, by the terms of the Stock Option Agreement, require any partial exercise to exceed a specified minimum number of shares. For the avoidance of doubt, prior to the effectiveness of the actions set forth in
Section 9.01 of the Stockholders Agreement, the exercise of any Option must be with respect to the same number of shares of Class A Stock and Class B Stock and any notice of exercise purporting to apply with respect to a different number
of shares of Class A Stock and Class B Stock shall not be effective. 

Section 5.3     Manner of Exercise. An exercisable Option, or any exercisable portion
thereof, may be exercised solely by delivery to the corporate secretary of all of the following prior to the time when such Option or such portion becomes unexercisable under the Plan or the applicable Stock Option Agreement: 

(a)     Notice in writing signed by the Optionee or his or her Eligible Representative stating that such Option or portion
is exercised, and specifically stating the number of shares with respect to which the Option is being exercised; 

(b)     A copy of the Management Stockholders Agreement signed by the Optionee or Eligible Representative, as applicable;

 (c)     Full payment for the shares with respect to which such Option or portion is thereby exercised: 

  
 6 

 (i)     In cash, by certified or bank cashier check, or by wire
transfer; or 
 (ii)    With the consent of the Board, (A) shares of Common Stock which have been owned by the
Optionee for at least six months (or such other time period as may be determined by the Board), duly endorsed for transfer to the Company with a Fair Market Value on the date of delivery equal to the aggregate Option price of the shares with respect
to which such Option or portion is exercised; (B) shares of Common Stock issuable to the Optionee upon exercise of the Option, with a Fair Market Value on the date of Option exercise equal to the aggregate Option price of the shares with
respect to which such Option or portion is thereby exercised; (C) following an Initial Public Offering and pursuant to any policies and procedures adopted by the Board, delivery of a notice that the Optionee has placed a market sell order with
a broker with respect to shares of Common Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price;
or (D) any combination of the consideration listed in this Section 5.3(c) or any other property of any kind which is deemed to constitute good and valuable consideration by the Board; 

(d)     The payment to the Company (in cash, by certified or bank cashier check, by wire transfer or by any other means of
payment approved by the Board) of all amounts necessary to satisfy any and all federal, state and local tax withholding requirements arising in connection with the exercise of the Option; provided that the Board may, in its sole discretion,
allow the Optionee to satisfy any withholding tax obligations arising in connection with the exercise of any Option under the Plan by electing to have the Company withhold from the Common Stock to be issued that number of shares of Common Stock
having a Fair Market Value equal to the amount required to be withheld (based on minimum applicable statutory withholding rates), determined on the date that the amount of tax to be withheld is determined; 

(e)     Such representations and documents as the Board deems necessary or advisable to effect compliance with all
applicable provisions of the Securities Act, Exchange Act and any other federal or state securities laws or regulations. The Board may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance
including, without limitation, placing legends on share certificates and issuing stop-transfer orders to transfer agents and registrars; and 

(f)     In the event that the Option or portion thereof shall be exercised pursuant to Section 5.1 by any person or
persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the Option or portion thereof. 

Section 5.4     Conditions to Issuance of Stock Certificates. The shares of Common Stock
issuable and deliverable upon the exercise of an Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares which have then been reacquired by the Company. A certificate of shares will be delivered to
the Optionee at the Company’s principal place of business within thirty days of receipt by the Company of the written notice and payment, unless an earlier date is agreed upon. Notwithstanding the above, the Company shall not be required to
issue or deliver any certificate or certificates for shares of Common Stock purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 

  
 7 

 (a)     The admission of such shares to listing on any and all stock
exchanges on which such class of stock is then listed; 
 (b)     The execution by the Optionee and delivery to the
Company of the Management Stockholders Agreement; 
 (c)     The completion of any registration or other qualification
of such shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Board shall, in its sole discretion, deem necessary or advisable; 

(d)     The obtaining of any approval or other clearance from any state or federal governmental agency which the Board
shall, in its sole discretion, determine to be necessary or advisable; and 
 (e)     The payment to the Company of all
amounts which it is required to withhold, if any, under federal, state or local law in connection with the exercise of the Option. 

Section 5.5     Rights as Stockholders. The holder of an Option shall not be, nor have
any of the rights or privileges of, a stockholder of the Company in respect of any shares purchasable upon the exercise of any part of an Option unless and until such holder has signed the Management Stockholders Agreement and certificates
representing such shares have been issued by the Company to such holder. 
 Section 5.6    
Transfer Restrictions. Shares acquired upon exercise of an Option shall be subject to the terms and conditions of the Management Stockholders Agreement. In addition, the Board, in its sole discretion, may impose further restrictions on the
transferability of the shares purchasable upon the exercise of an Option as it deems appropriate. Any such restriction shall be set forth in the respective Stock Option Agreement and may be referred to on the certificates evidencing such shares.

 ARTICLE VI.  

ADMINISTRATION 

Section 6.1     Administration. The full Board shall administer the Plan, except with
respect to matters which, under Rule 16b-3 or any other applicable law (or any regulations or rules issued thereunder), are required to be determined by a committee or other Person(s). 

Section 6.2     Duties and Powers of the Board. It shall be the duty of the Board to
conduct the general administration of the Plan in accordance with its provisions. The Board shall have the power to interpret the Plan and the Options and to adopt such rules for the administration, interpretation and application of the Plan as are
consistent therewith and to interpret, amend or revoke any such rules. All determinations and decisions made by the Board under any provision of the Plan or of any Option granted thereunder shall be final, conclusive and binding on all persons. 

Section 6.3     Professional Assistance, Good Faith Actions. All expenses and liabilities
incurred by the members of the Board in connection with the administration of the Plan shall be 

  
 8 

 
borne by the Company. The Board may employ or engage attorneys, consultants, accountants, appraisers, brokers or other persons. The Board, the Company and its Officers and Directors shall be
entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Board in good faith shall be final and binding upon all Optionees, the Company and all other
interested persons. No member of the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the Options, and all members of the Board shall be fully protected by the Company in
respect to any such action, determination or interpretation. 
 ARTICLE VII.  

OTHER PROVISIONS 

Section 7.1     Changes in Common Stock; Disposition of Assets and Corporate Events 

(a)     In the event of any stock split, spin-off, share combination, reclassification, recapitalization, liquidation,
dissolution, reorganization, merger, Change in Control, payment of a dividend or distribution (other than a cash dividend paid as part of a regular dividend program) or other similar transaction or occurrence (including an Equity Restructuring)
which affects the equity securities of the Company or the value thereof, the Board shall (i) adjust the number and kind of shares subject to the Plan and available for or covered by Options, (ii) adjust the exercise prices related to
outstanding Options, and/or (iii) take such other action (including, without limitation providing for payment of a cash amount to holders of outstanding Options and adjusting performance targets, if any), in each case as it deems reasonably
necessary to address, on an equitable basis, the effect of the applicable corporate event on the Plan and any outstanding Options, without adverse tax consequences under Section 409A of the Code. 

(b)     In the event of a Change in Control: (i) if provided in the applicable Stock Option Agreement or otherwise
determined by the Board in its sole discretion, any outstanding Options then held by Optionees which are unexercisable or otherwise unvested shall automatically be deemed exercisable or otherwise vested as of immediately prior to such Change in
Control and (ii) the Board may, to the extent determined by the Board to be permitted under Section 409A of the Code, but shall not be obligated to: (A) cancel outstanding Options for a payment equal to the excess, if any, of the
value of the consideration to be paid in the Change in Control transaction to holders of the same number of shares of Common Stock subject to such Options (or, if no consideration is paid in any such transaction, the Fair Market Value of the Common
Stock subject to such Options) over the aggregate exercise price of such Options (and, for the avoidance of doubt, any Options having an exercise price equal to or greater than the consideration to be paid in the Change in Control may be cancelled
without payment in respect thereof); (B) provide for the issuance of substitute awards that will preserve in no less favorable a manner the otherwise applicable terms of any affected Options previously granted hereunder, as determined by the Board
in its sole discretion; or (C) provide that for a period of at least ten business days prior to the Change in Control, Options shall be exercisable as to all Shares subject thereto (where, for the avoidance of doubt, an Optionee shall have the
ability to request that such shares be withheld to satisfy the payment of the exercise price of such Options and/or to satisfy any tax withholding obligations that the Optionee may incur as a result of such exercise) and

  
 9 

 
that, upon the occurrence of the Change in Control, such Options shall terminate and be of no further force and effect. 

Section 7.2     Options Not Transferable. No Option or interest or right therein or part
thereof shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether
such disposition be voluntary or involuntary or by operation of law, by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of
no effect; provided, however, that nothing in this Section 7.2 shall prevent transfers by will or by the applicable laws of descent and distribution. 

Section 7.3     Amendment, Suspension or Termination of the Plan. The Plan may be wholly
or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board. Except as provided by Section 7.1, neither the amendment, suspension nor termination of the Plan shall, without the consent of
the holder of the Option, alter or impair any rights or obligations under any Option theretofore granted. No Option may be granted during any period of suspension nor after termination of the Plan, and in no event may any Option be granted under
this Plan after the expiration of ten years from the date the Plan is adopted by the Board. 

Section 7.4     Effect of Plan Upon Other Option and Compensation Plans. The adoption of
this Plan shall not affect any other compensation or incentive plans in effect for the Company or any Affiliate. Nothing in this Plan shall be construed to limit the right of the Company or any Affiliate (a) to establish any other forms of
incentives or compensation for directors, employees or consultants of the Company or any Affiliate; or (b) to grant or assume options otherwise than under this Plan in connection with any proper corporate purpose, including, but not by way of
limitation, the grant or assumption of options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 

Section 7.5     Titles. Titles are provided herein for convenience only and are not to
serve as a basis for interpretation or construction of the Plan. 
 Section 7.6    
Conformity to Securities Laws. The Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission
thereunder to the extent the Company or any Optionee is subject to the provisions thereof. Notwithstanding anything herein to the contrary, the Plan shall be administered, and Options shall be granted and may be exercised, only in such a manner as
to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and Options granted hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

Section 7.7     Governing Law. To the extent not preempted by federal law, the Plan shall
be construed in accordance with and governed by the internal laws of the State of Delaware, without regard to the principles of conflicts of law thereof, or principles of conflicts of 

  
 10 

 
law of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware. 

Section 7.8     Severability. In the event any portion of the Plan or any action taken
pursuant thereto shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had not been
included, and the illegal or invalid action shall be null and void. 
 Section 7.9    
Section 409A. To the extent applicable, the Plan and Stock Option Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance
issued thereunder. Notwithstanding any provision of the Plan to the contrary, in the event that the Board determines that any Option may be subject to Section 409A of the Code, the Board may adopt such amendments to the Plan and the applicable
Stock Option Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Board determines are necessary or appropriate to (a) exempt the Option
from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Option, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance
and thereby avoid the application of penalty taxes under such Section 409A of the Code. Notwithstanding anything herein to the contrary, no provision of the Plan shall be interpreted or construed to transfer any liability for failure to comply
with the requirements of Section 409A of the Code from any Optionee or other Person to the Company or any of its Affiliates, employees or agents. 

*    *    *    *    * 

  
 11 

 I hereby certify that the foregoing Plan was duly adopted, as amended, by the Board as of
April 13, 2012. 
 Executed as of April 13, 2012. 

 

			
	/s/ Lon F. Povich
	Officer Name:	 	Lon F. Povich
	Officer Title:	 	EVP, General Counsel and Secretary

  
 12

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