Document:

AMENDED & RESTATED AETNA 2002 STOCK INCENTIVE PLAN

 

Exhibit 10.1

AETNA INC.

2002 STOCK INCENTIVE PLAN

SECTION 1. PURPOSE.

     The purposes of this Plan are to promote the interests of the Company and
its shareholders, and further align the interests of shareholders and
Participants by:

	 	(i)	 	motivating Participants through Awards tied
to total return to shareholders (i.e., stock price
appreciation and dividends);
	 
	 	(ii)	 	attracting and retaining outstanding
individuals as Participants;
	 
	 	(iii)	 	enabling Participants to acquire additional
equity interests in the Company; and
	 
	 	(iv)	 	providing compensation opportunities
dependent upon the Company’s performance relative to its
competitors and changes in its own performance over time.

SECTION 2. DEFINITIONS.

     “AFFILIATE” shall mean any corporation or other entity (other than the
Company or one of its Subsidiaries) in which the Company directly or indirectly
owns at least twenty percent (20%) of the combined voting power of all classes
of stock of such entity or at least twenty percent (20%) of the ownership
interests in such entity.

     “AWARD” shall mean any grant or award under the Plan, as evidenced in a
written document delivered to a Participant as provided in Section 12(b).

     “BOARD” shall mean the Board of Directors of the Company.

     “CAUSE” shall mean (i) the willful failure by the Participant to perform
substantially the Participants duties as an employee of the Company (other than
due to physical or mental illness) after reasonable notice to the Participant,
(ii) the Participants engaging in serious misconduct that is injurious to the
Company, any Subsidiary or any Affiliate, (iii) the Participants having been
convicted of, or entered a plea of nolo contendere to, a crime that constitutes
a felony, (iv) the breach by the Participant of any written covenant or
agreement not to compete with the Company, any Subsidiary or any Affiliate or
(v) the breach by the Participant of his or her duty of loyalty to the Company
which shall include, without limitation, (A) the disclosure by the Participant
of any confidential information pertaining to the Company, any Subsidiary or
any Affiliate, (B) the harmful interference by the Participant in the business
or operations of the Company, any Subsidiary or any Affiliate, (C) any attempt
by the Participant directly or indirectly to induce any employee, insurance
agent, insurance broker or broker-dealer of the Company, any Subsidiary or any
Affiliate to be employed or perform services elsewhere, (D) any attempt by the
Participant directly or indirectly to solicit the trade of any customer or
supplier, or prospective customer or supplier, of the Company or (E) any breach
or violation of the Companys Code of Conduct.

     “CODE” shall mean the Internal Revenue Code of 1986, as amended, and the
regulations thereunder.

 

 

     “COMMITTEE” shall mean a committee of the Board as may be designated by
the Board to administer the Plan.

     “COMMON STOCK” shall mean the common stock, $.01 par value, of the
Company.

     “COMPANY” shall mean Aetna Inc., a Pennsylvania corporation.

     “ELIGIBLE EMPLOYEE” shall mean each employee of the Company, its
Subsidiaries or its Affiliates, but shall not include directors who are not
employees of such entities and Executive Officers of the Company. Any
individual the Company designates as, or otherwise determines to be, an
independent contractor shall not be considered an Eligible Employee, and such
designation or determination shall govern regardless of whether such individual
is ultimately determined to be an employee pursuant to the Code or any other
applicable law.

     “EMPLOYMENT” shall mean, for purposes of determining whether a termination
of employment has occurred under the Plan, continuous and regular salaried
employment with the Company, a Subsidiary or an Affiliate, which shall include
(unless the Committee shall otherwise determine) any period of vacation, any
approved leave of absence or any salary continuation or severance pay period
and, at the discretion of the Committee, may include service with any former
Subsidiary or Affiliate of the Company. For this purpose, regular salaried
employment means scheduled employment of at least 20 hours per week.

     “EXCHANGE ACT” shall mean the Securities Exchange Act of 1934, as amended
from time to time.

     “EXECUTIVE OFFICER” shall mean those persons who are officers of the
Company within the meaning of Rule 16a-l(f) of the Exchange Act.

     “FAIR MARKET VALUE” shall mean on any date, with respect to a share of
Common Stock, the closing price of a share of Common Stock as reported by the
Consolidated Tape of New York Stock Exchange Listed Shares on such date, or, if
no shares were traded on such Exchange on such date, on the next date on which
the Common Stock is traded.

     “FUNDAMENTAL CORPORATE EVENT” shall mean any stock dividend, extraordinary
cash dividend, recapitalization, reorganization, merger, consolidation,
split-up, spin-off, combination, exchange of shares, offering to purchase
Common Stock at a price substantially below fair market value, or other similar
event.

     “INCENTIVE STOCK” shall mean an Award of Common Stock granted under
Section 7 which may become vested and nonforfeitable upon the passage of time
and/or the attainment, in whole or in part, of performance objectives
determined by the Committee.

     “INCENTIVE STOCK OPTION” shall mean an option which is intended to meet
the requirements of Section 422 of the Code.

     “INCENTIVE UNIT” shall mean an Award of a contractual right granted under
Section 7 to receive Common Stock (or, at the discretion of the Committee, cash
based on the Fair Market Value of the Common Stock) which may become vested and
nonforfeitable upon either the passage of time and/or the attainment, in whole
or in part, of performance objectives determined by the Committee.

     “NONSTATUTORY STOCK OPTION” shall mean an Option which is not intended to
be an Incentive Stock Option.

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     “OPTION” shall mean the right granted under Section 5 to purchase the
number of shares of Common Stock specified by the Committee, at a price and for
the term fixed by the Committee in accordance with the Plan and subject to any
other limitations and restrictions as this Plan and the Committee shall impose,
and shall include both Incentive Stock Options and Nonstatutory Stock Options.

     “OTHER STOCK-BASED AWARD” shall mean any right granted under Section 8.

     “PARTICIPANT” shall mean an Eligible Employee who is selected by the
Committee to receive an Award under the Plan and Substitute Award as
contemplated under Section 4(c).

     “PLAN” shall mean the Aetna Inc. 2002 Stock Incentive Plan, described
herein, and as may be amended from time to time.

     “RESTRICTED PERIOD” shall mean the period during which a grant of
Incentive Stock or Incentive Units is subject to forfeiture.

     “STOCK APPRECIATION RIGHT” shall mean a right granted under Section 6.

     “SUBSIDIARY” shall mean any entity of which the Company possesses directly
or indirectly fifty percent (50%) or more of the total combined voting power of
all classes of stock of such entity.

     “SUBSTITUTE AWARDS” shall mean Awards granted in assumption of, or in
substitution for, outstanding awards previously granted by a company acquired
by the Company or with which the Company combines.

SECTION 3. ADMINISTRATION.

     The Plan shall be administered by the Committee. The Committee shall have
the responsibility of construing and interpreting the Plan and of establishing
and amending such rules and regulations as it deems necessary or desirable for
the proper administration of the Plan. Any decision or action taken or to be
taken by the Committee, arising out of or in connection with the construction,
administration, interpretation and effect of the Plan and of its rules and
regulations, shall, to the maximum extent permitted by applicable law, be
within its absolute discretion (except as otherwise specifically provided
herein) and shall be conclusive and binding upon all Participants and any
person claiming under or through any Participant.

     Subject to the terms of the Plan and applicable law, and in addition to
other express powers and authorizations conferred on the Committee by the Plan,
the Committee shall have full power and authority to: (i) designate
Participants; (ii) determine the type or types of Awards, if any, to be granted
to an Eligible Employee: (iii) determine the number of shares of Common Stock
to be covered by, or with respect to which payments, rights, or other matters
are to be calculated in connection with, Awards: (iv) determine the terms and
conditions of any Award: (v) determine whether, to what extent, and under what
circumstances Awards may be settled or exercised in cash, Common Stock, other
securities, other Awards or other property, or canceled, forfeited, or
suspended and the method or methods by which Awards may be settled, exercised,
canceled, forfeited, or suspended; (vi) determine whether, to what extent, and
under what circumstances, cash, Common Stock, other securities, other Awards,
other property, and other amounts payable with respect to an Award shall be
deferred either automatically or at the election of the holder thereof or of
the Committee: (vii) interpret and administer the Plan and any instrument or
agreement relating to, or Award made under, the Plan; (viii) establish, amend,
suspend, or waive such rules and regulations and appoint such agents as it
shall deem appropriate for the proper administration of the Plan: and (ix) make
any other determination and take any other action that

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 the Committee deems necessary or desirable for the administration of the
Plan (including authorizing another Committee of the Company to designate
Participants or make Awards under the Plan within limits prescribed by the
Committee).

SECTION 4. SHARES AVAILABLE FOR AWARDS.

     (a)  Shares Available for Issuance. The maximum number of shares of Common
Stock in respect of which Awards may be made under the Plan shall be a total of
7,500,000 shares of Common Stock. Shares of Common Stock may be made available
from the authorized but unissued shares of the Company or from shares held in
the Companys treasury and not reserved for some other purpose. In the event
that any Award is paid solely in cash, no shares shall be deducted from the
number of shares available for issuance by reason of such Award. Shares of
Common Stock subject to Awards that are forfeited, terminated, canceled or
settled without the delivery of Common Stock under the Plan will again be
available for Awards under the Plan.

     (b)  Adjustment for Corporate Transactions. In the event that the
Committee shall determine that any Fundamental Corporate Event affects the
Common Stock such that an adjustment is required to preserve, or to prevent
enlargement of, the benefits or potential benefits made available under this
Plan, then the Committee may, in such manner as the Committee may deem
equitable, adjust any or all of (i) the number and kind of shares which
thereafter may be awarded or optioned and sold or made the subject of Awards
under the Plan, (ii) the number and kinds of shares subject to outstanding
Awards and (iii) the grant, exercise or conversion price with respect to any of
the foregoing. Additionally, the Committee may make provisions for a cash
payment to a Participant or a person who has an outstanding Award. However, the
number of shares subject to any Award shall always be a whole number.

     (c)  Substitute Awards. Any shares of Common Stock underlying Substitute
Awards shall not be counted against the Shares available for Awards under the
Plan.

SECTION 5. STOCK OPTIONS.

     (a)  Grant. Subject to the provisions of the Plan, the Committee shall
have the authority to grant Options to an Eligible Employee and to determine
(i) the number of shares to be covered by each Option, (ii) subject to Section
5(b), the exercise price of the Option and (iii) the conditions and limitations
applicable to the exercise of the Option. Notwithstanding the foregoing, in no
event shall the Committee grant any Participant Options (i) for more than
800,000 shares of Common Stock in respect of any year in which the Plan is in
effect, as such number may be adjusted pursuant to Section 4(b). In the case of
Incentive Stock Options, the terms and conditions of such grants shall be
subject to and comply with Section 422 of the Code and the regulations
thereunder.

     (b)  Exercise Price. Except in the case of, Substitute Awards or Options
granted in lieu of payment for compensation earned by an Eligible Employee of
the Company, the exercise price of an Option shall not be less than 100% of the
Fair Market Value on the date of grant.

     (c)  Exercise. Each Option shall be exercised at such times and subject
to such-terms and conditions as the Committee may specify at the time of the
applicable Award or thereafter. No shares shall be delivered pursuant to any
exercise of an Option unless arrangements satisfactory to the Committee have
been made to assure full payment of the exercise price therefor. Without
limiting the generality of the foregoing, payment of the exercise price may be
made in cash or its equivalent or, if and to the extent permitted by the
Committee, by exchanging shares of Common Stock owned by the optionee (which
are not the subject of any pledge or other security interest or which, in the
case of Incentive Stock, are fully vested) either actually or by attestation,
or by a

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 combination of the foregoing, provided that the combined value of all cash
and cash equivalents and the Fair Market Value of any such Common Stock so
tendered to the Company, valued as of the date of such tender, is at least
equal to such exercise price.

     (d)  Incentive Stock Option Annual Limit. The aggregate Fair Market Value
(determined as of the date the Incentive Stock Option is granted) of the Common
Stock with respect to which Incentive Stock Options are exercisable for the
first time by an Eligible Employee during any calendar year (counting Incentive
Stock Options under this Plan and under any other stock option plan of the
Company or a subsidiary) shall not exceed $100,000. If an Option intended to
be an Incentive Stock Option is granted to an Eligible Employee and the Option
may not be treated in whole or in part as an Incentive Stock Option pursuant to
the $100,000 limitation, the Option shall be treated as an Incentive Stock
Option to the extent it may be so treated under the limitation and as a
Nonstatutory Stock Option as to the remainder. For purposes of determining
whether an Incentive Stock Option would cause the limitation to be exceeded,
Incentive Stock Options shall be taken into account in the order granted. The
annual limit set forth above shall not apply to Nonstatutory Stock Options.

SECTION 6. STOCK APPRECIATION RIGHTS.

     (a)  Grant of Stock Appreciation Rights. The Committee shall have the
authority to grant Stock Appreciation Rights in tandem with an Option, in
addition to an Option, or freestanding and unrelated to an Option.
Notwithstanding the foregoing, in no event shall the Committee grant any
Participant Stock Appreciation Rights (i) for more than 500,000 shares of
Common Stock in respect of any year in which the Plan is in effect, as such
number may be adjusted pursuant to Section 4(b) and (ii) with a term exceeding
10 years (or the term of the underlying Incentive Stock Option in the case of a
Stock Appreciation Right granted in tandem with an Incentive Stock Option).
Stock Appreciation Rights granted in tandem with an option may be granted
either at the same time as the Option or at a later time.

     (b)  Exercise Price. The exercise price of an SAR shall not be less than
100% of the Fair Market Value of a share of Common Stock on the date the SAR
was granted; provided that if an SAR is granted retroactively in tandem with or
in substitution for an Option, the exercise price may be the exercise price of
the Option to which it is related.

     (c)  Exercise of Stock Appreciation Rights. A Stock Appreciation Right
shall entitle the Participant to receive from the Company an amount equal to
the excess of the Fair Market Value of a share of Common Stock on the date of
exercise of the Stock Appreciation Right over the base price thereof. The
Committee shall determine the time or times at which or the event or events
(including, without limitation, a change of control) upon which a Stock
Appreciation Right may be exercised in whole or in part, the method of exercise
and whether such Stock Appreciation Right shall be settled in cash, shares of
Common Stock or a combination of cash and shares of Common Stock; provided,
however, that unless otherwise specified by the Committee at or after grant, a
Stock Appreciation Right granted in tandem with an Option shall be exercisable
at the same time or times as the related option is exercisable.

SECTION 7. INCENTIVE AWARDS.

     (a)  Incentive Stock and Incentive Units. Subject to the provisions of
the Plan, the Committee shall have the authority to grant time vesting and/or
performance vesting Incentive Stock or Incentive Units to any Eligible Employee
and to determine (i) the number of shares of Incentive Stock and the number of
Incentive Units to be granted to each Participant and (ii) the other terms and
conditions of such Awards; provided that, to the extent necessary to comply
with applicable law, Incentive Stock shall only be awarded to an Eligible
Employee who has been

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 employed for such minimum period of time as shall be determined by the
Committee. The Restricted Period related to Incentive Stock or Incentive Units
shall lapse upon the passage of time and/or the determination by the Committee
that the performance objectives established by the Committee have been
attained, in whole or in part.

     (b)  Certificates. Any certificates issued in respect of Incentive Stock
shall be registered in the name of the Participant and deposited by such
Participant, together with a stock power endorsed in blank, with the Company.
At the expiration of the Restricted Period with respect to any award of
Incentive Stock, unless otherwise forfeited, the Company shall deliver such
certificates to the Participant or to the Participants legal representative.
Payment for Incentive Stock Units shall be made by the Company in shares of
Common Stock, cash or in any combination thereof, as determined by the
Committee.

SECTION 8. OTHER STOCK-BASED AWARDS.

     The Committee shall have authority to grant to eligible Employees an
“Other Stock-Based Award”, which shall consist of any right which is (i) not an
Award described in Sections 5 through 7 above and (ii) an Award of Common Stock
or an Award denominated or payable in, valued in whole or in part by reference
to, or otherwise based on or related to, Common Stock (including, without
limitation, securities convertible into Common Stock), as deemed by the
Committee to be consistent with the purposes of the Plan. Subject to the terms
of the Plan and any applicable award agreement, the Committee shall determine
the terms and conditions of any such Other Stock-Based Award.

SECTION 9. DIVIDENDS AND DIVIDEND EQUIVALENTS.

     The Committee may provide that any Award shall include dividends or
dividend equivalents, payable in cash, Common Stock, securities or other
property on a current or deferred basis, including payment contingencies.

SECTION 10. STOCK IN LIEU OF CASH.

     The Committee may grant Awards in lieu of all or a portion of compensation
or an Award otherwise payable in cash to an Executive officer pursuant to any
bonus or incentive compensation plan of the Company.

     If shares are issued in lieu of cash, the number of shares of Common Stock
to be issued shall be the greatest number of whole shares which has an
aggregate Fair Market Value on the date the cash would otherwise have been
payable pursuant to the terms of such other plan equal to or less than the
amount of such cash.

SECTION 11. DEFERRAL.

     The Committee shall have the discretion to determine whether, to what
extent, and under what circumstances cash, shares of Common Stock, other
securities, other Awards, other property, and other amounts payable with
respect to an Award shall be deferred either automatically or at the election
of the holder thereof or of the Committee.

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SECTION 12. GENERAL PROVISIONS.

     (a)  Withholding. The Company shall have the right to deduct from all
amounts paid to a Participant in cash (whether under this Plan or otherwise)
any taxes required by law to be withheld in respect of Awards under this Plan.
In the case of any Award satisfied in the form of Common Stock, no shares shall
be issued unless and until arrangements satisfactory to the Company shall have
been made to satisfy any withholding tax obligations applicable with respect to
such Award. Without limiting the generality of the foregoing and subject to
such terms and conditions as the Committee may impose, the Company shall have
the right to retain, or the Committee may, subject to such terms and conditions
as it may establish from time to time, permit Participants to elect to use
shares of Common Stock (including Common Stock issuable in respect of an Award)
to satisfy, in whole or in part, the amount required to be withheld.

     (b)  Award Agreement. Each Award hereunder shall be evidenced in writing.
The written agreement shall be delivered to the Participant and shall
incorporate the terms of the Plan by reference and specify the terms and
conditions thereof and any rules applicable thereto.

     (c)  Nontransferability. Unless the Committee shall permit (on such terms
and conditions as it shall establish) an Award to be transferred to a member of
the Participants immediate family or to a trust or similar vehicle for the
benefit of such immediate family members (collectively, the “Permitted
Transferees”), no Award shall be assignable or transferable except by will or
the laws of descent and distribution, and except to the extent required by law,
no right or interest of any Participant shall be subject to any lien,
obligation or liability of the Participant. All rights with respect to Awards
granted to a Participant under the Plan shall be exercisable during the
Participants lifetime only by such Participant or, if applicable, the Permitted
Transferees or the Participants legal representative.

     (d)  No Right to Employment. No person shall have any claim or right to
be granted an Award, and the grant of an Award shall not be construed as giving
a Participant the right to be retained in the employ of the Company, any
Subsidiary or any Affiliate. Further, the Company and each Subsidiary and
Affiliate expressly reserves the right at any time to dismiss a Participant
free from any liability, or any claim under the Plan, except as provided herein
or in any agreement entered into with respect to an Award.

     (e)  No Rights to Awards, No Shareholder Rights. No Participant or
Eligible Employee shall have any claim to be granted any Award under the Plan,
and there is no obligation of uniformity of treatment of Participants and
Eligible Employees. Subject to the provisions of the Plan and the applicable
Award, no person shall have any rights as a shareholder with respect to any
shares of Common Stock to be issued under the Plan prior to the issuance
thereof.

     (f)  Construction of the Plan. The validity, construction,
interpretation, administration and effect of the Plan and of its rules and
regulations, and rights relating to the Plan, shall be determined solely in
accordance with the laws of the State of Connecticut.

     (g)  Effective Date. January 25, 2002.

     (h)  Amendment or Termination of Plan. The Board or the Committee may
terminate or suspend the Plan at any time, but the termination or suspension
will not adversely affect any vested Awards then outstanding under the Plan. No
Award may be granted under the Plan after January 25, 2012 or such earlier date
as the Plan is terminated by action of the Board or the Committee, The Plan may
be amended or terminated at any time by the Board, except that no amendment may
be made without shareholder approval if the Committee determines that such
approval is necessary to comply with any tax or regulatory requirement,
including any approval requirement which is a prerequisite for exemptive relief
from Section 16 of the Exchange Act, for

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 which or with which the Committee determines that it is desirable to
qualify or comply. The Committee may amend the term of any Award or Option
granted, retroactively or prospectively, but no amendment may adversely affect
any vested Award or Option without the holders consent.

     (i)  Compliance with Legal and Exchange Requirements. The Plan, the
granting and exercising of Awards thereunder, and the other obligations of the
Company under the Plan, shall be subject to all applicable federal and state
laws, rules, and regulations, and to such approvals by any regulatory or
governmental agency as may be required. The Company, in its discretion, may
postpone the granting and exercising of Awards, the issuance or delivery of
Common Stock under any Award or any other action permitted under the Plan to
permit the Company, with reasonable diligence, to complete such stock exchange
listing or registration or qualification of such Common Stock or other required
action under any federal or state law, rule, or regulation and may require any
Participant to make such representations and furnish such information as it may
consider appropriate in connection with the issuance or delivery of Common
Stock in compliance with applicable laws, rules, and regulations. The Company
shall not be obligated by virtue of any provision of the Plan to recognize the
exercise of any Award or to otherwise sell or issue Common Stock in violation
of any such laws, rules, or regulations; and any postponement of the exercise
or settlement of any Award under this provision shall not extend the term of
such Awards, and neither the Company nor its directors or officers shall have
any obligations or liability to the Participant with respect to any Award (or
stock issuable thereunder) that shall lapse because of such postponement.

     (j)  Severability of Provisions. If any provision of this Plan shall be
held invalid or unenforceable, such invalidity or unenforceability shall not
affect any other provisions hereof, and this Plan shall be construed and
enforced as if such provision had not been included.

     (k)  Incapacity. Any benefit payable to or for the benefit of a minor, an
incompetent person or other person incapable of receipting therefor shall be
deemed paid when paid to such persons guardian or to the party providing or
reasonably appearing to provide for the care of such person, and such payment
shall fully discharge any liability or obligation of the Committee, the Board,
the Company and all other parties with respect thereto.

     (1)  Headings and Captions. The headings and captions herein are provided
for reference and convenience only, shall not be considered part of this Plan,
and shall not be employed in the construction of this Plan.

Approved

Aetna Board of Directors

January 25, 2002

Amended and Restated as of September 26, 2003

8<PAGE>
                                                                               .
                                                                               .
                                                                               .
<Table>
<Caption>
<S>        <C>                                     <C>                                     <C>
           Number                                                                               SHARES

        PH

        COMMON STOCK                                     [LOGO]                              SEE REVERSE FOR
                                                                                           CERTAIN DEFINITIONS
 Incorporated under the Laws                        Pharmion Corporation
   of the State of Delaware                                                                  CUSIP 71715B 40 9

THIS CERTIFIES THAT

is the owner of

                       FULLY PAID AND NONASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $.001 PER SHARE, OF

======================================================= Pharmion Corporation ==============================================

transferable on the books of the Company in person or by duly authorized attorney upon surrender
of this certificate properly endorsed.
   This certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar.
   WITNESS the facsimile seal of the Company and the facsimile signatures of its duly authorized officers.

                                                                COUNTERSIGNED AND REGISTERED.
                                                                    AMERICAN STOCK TRANSFER & TRUST COMPANY
                                                                         TRANSFER AGENT AND REGISTRAR

                                                   PHARMION CORPORATION
Dated                                                   CORPORATE                                        authorized signature

                                                           SEAL
 /S/KATHY PARMA                                            1999                                        /S/PATRICK J. MAHAFFY
CORPORATE SECRETARY                                                                          PRESIDENT AND CHIEF EXECUTIVE OFFICER
                                                         DELAWARE
</Table>

<PAGE>
                             Pharmion Corporation

     The Company will furnish to any stockholder upon request and without charge
a full statement of the designations, preferences, limitations, and relative
rights of the shares of each class authorized to be issued and the variations
in the relative rights and preferences between the shares of each series of any
preferred or special class, so far as the same may have been fixed and
determined, and the authority of the board of directors to fix and determine the
relative rights and preferences of subsequent series.

     KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, OR DESTROYED
THE COMPANY MAY REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF
A REPLACEMENT CERTIFICATE.

     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>       <C>                               <C>
TEN COM   -as tenants in common             UNIF GIFT MIN ACT-                 Custodian
                                                              ----------------           ----------------
TEN ENT   -as tenants by the entireties                            (Cust)                       (Minor)
IT TEN    -as joint tenants with right                     under Uniform Gifts to Minors
           of survivorship and not as                      Act
           tenants in common                                  ----------------------
                                                                   (State)
                                            UNIF TRAN MIN ACT-                 Custodian
                                                              -----------------         ------------------
                                                                   (Cust)                       (Minor)
                                                           under Uniform Transfers to Minors
                                                           Act
                                                              ----------------------
                                                                   (State)
</TABLE>

    Additional abbreviations may also be used though not in the above list.

     For value received,               hereby sell, assign and transfer unto
                       ---------------

           PLEASE INSERT SOCIAL SECURITY OR OTHER
              IDENTIFYING NUMBER OF ASSIGNEE
           ---------------------------------------

           ---------------------------------------

     -----------------------------------------------------------------------

     -----------------------------------------------------------------------

     -----------------------------------------------------------------------

     --------------------------------------------------------------- shares

     of the common stock represented by the within Certificate,

     and do hereby irrevocably constitute and appoint
                                                                 Attorney
     ----------------------------------------------------------

     to transfer the said stock on the books of the within named

     Company with full power of substitution in the premises.

     Dated
           --------------------------

             ----------------------------------------------------
             THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND
    NOTICE:  WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE
             CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION
             OR ENLARGEMENT OR ANY CHANGE WHATEVER.

SIGNATURE(S) GUARANTEED

By
  --------------------------------------------
  THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
  ELIGIBLE GUARANTOR INSTITUTION, (Banks,
  Stockbrokers, Savings and Loan  Associations
  and Credit Unions) WITH MEMBERSHIP IN AN
  APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM
  PURSUANT TO S.E.C. RULE 17Ad-15.

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