Document:

COMMON STOCK

PAR VALUE $0.001

[LOGO]

COMMON STOCK

THIS CERTIFICATE IS TRANSFERABLE IN
CANTON, MA, NEW JERSEY, NJ, AND NEW YORK, NY

Certificate Number

Shares

LIQUIDITY SERVICES INC.

INCORPORATED UNDER THE LAWS OF THE STATE
OF DELAWARE

THIS CERTIFIES THAT

is the owner of

CUSIP 53635B 10 7

SEE REVERSE FOR CERTAIN DEFINITIONS

FULLY PAID AND NON-ASSESSABLE SHARES OF
THE COMMON STOCK OF

Liquidity Services, Inc., transferable
on the books of the Company in person or by duly authorized attorney, upon surrender
of this Certificate properly endorsed. This Certificate and the shares
represented hereby, are issued and shall be held subject to all of the
provisions of the Fourth Amended and Restated Certificate of Incorporation, and
Amended and Restated By-Laws, of the Company (copies of which are on file with
the Company and with the Transfer Agent), to all of which each holder, by
acceptance hereof, assents. 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.

/s/ James E. Williams

CHAIRMAN

/s/ William P. Angrick, III

SECRETARY

[SEAL]

Dated: <<Month Day, Year>>

COUNTERSIGNED AND REGISTERED:

COMPUTERSHARE TRUST COMPANY, N.A.

TRANSFER AGENT AND REGISTRAR

BY

AUTHORIZED SIGNATURE

 

 

 

LIQUIDITY SERVICES, INC.

THE COMPANY IS AUTHORIZED TO ISSUE MORE
THAN ONE CLASS OR SERIES OF STOCK. THE COMPANY WILL FURNISH WITHOUT CHARGE TO
EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS,
PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF
EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR
RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS,
PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE
FOURTH AMENDED AND RESTATED CERTIFICATION OF INCORPORATION OF THE COMPANY, AND
THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF
THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST
MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER
AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED
STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIONS, TO GIVE THE COMPANY A BOND TO
INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY
BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH
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:

TEN COM - as tenants in common

TEN ENT - as tenants by the entireties

JT TEN - as joint tenants with right of
survivorship and not as tenants in common

UNIF GIFT MIN ACT.

(Cust) Custodian (Minor) under Uniform
Gifts to Minors Act (State)

UNIF TRF MIN ACT

(Cust) Custodian (Until age...) (Minor)
under Uniform Transfers to Minors Act

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

(PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

shares of the capital 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 Corporation with full power of substitution in
the

premises.

Dated                       20____

Signature

Signature

Notice: The signature to this assignment
must correspond with the name as written upon

the face of the certificate, in every
particular, without alteration or enlargement or

any change whatsoever.

Signature(s) Guaranteed: Medallion
Guarantee Stamp

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.Exhibit 10.17

 

1998 IMS
HEALTH INCORPORATED

NON-EMPLOYEE DIRECTORS’ STOCK INCENTIVE PLAN

 

(As Amended and Restated as
of December 12, 2005)

 

1.  Purpose of
the Plan

 

The purpose of the Plan is to aid the Company in
attracting, retaining and compensating non-employee directors and to enable
them to increase their proprietary interest in the Company. The Plan is
intended to benefit the Company and its shareholders by enabling non-employee
directors of the Board to have a greater personal financial stake in the
Company, and reinforcing such directors’ common interest with shareholders in
increasing the value of the Shares on a long-term basis. In furtherance of this
purpose, the Plan provides for periodic grants of Options, Restricted Stock,
and Restricted Stock Units, and the opportunity for non-employee directors to
elect deferred and alternative forms of compensation in lieu of cash fees for
service as a director, including Options, Shares, and Deferred Share Units.

 

2.  Definitions

 

The following capitalized terms used in the Plan
have the respective meanings set forth in this Section:

 

(a)  Act:
The Securities Exchange Act of 1934, as amended, or any successor thereto.

 

(b) Award: An Option, a Share of Restricted Stock, or Restricted Stock Unit
granted under the Plan, or an Option, Share, or Deferred Share Unit granted in
lieu of cash directors fees under the Plan.

 

(c)
 Beneficial Owner: As such term is
defined in Rule 13d-3 under the Act (or any successor rule thereto).

 

(d)
 Board: The Board of Directors of the
Company.

 

(e)
 Change in Control: The occurrence of any of the following events:

 

(i)     any
Person (other than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company, or any company owned,
directly or indirectly, by the shareholders of the Company in substantially the
same proportions as their ownership of stock of the Company), becomes the
Beneficial Owner, directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company’s
then-outstanding securities;

 

(ii)    during any period of twenty-four months (not
including any period prior to the Effective Date), individuals who at the
beginning of such period constitute the Board, and any new director (other than
(A) a director nominated by a Person who has entered into an agreement 

 

 

with
the Company to effect a transaction described in Sections 2(e)(i),
(iii) or (iv) of the Plan, (B) a director nominated by any
Person (including the Company) who publicly announces an intention to take or
to consider taking actions (including, but not limited to, an actual or
threatened proxy contest) which if consummated would constitute a Change in
Control or (C) a director nominated by any Person who is the Beneficial
Owner, directly or indirectly, of securities of the Company representing 10% or
more of the combined voting power of the Company’s securities) whose election
by the Board or nomination for election by the Company’s shareholders was
approved in advance by a vote of at least two-thirds (2/3) of the directors
then still in office who either were directors at the beginning of the period
or whose election or nomination for election was previously so approved, cease
for any reason to constitute at least a majority thereof;

 

(iii)    the
shareholders of the Company approve any transaction or series of transactions
under which the Company is merged or consolidated with any other company, other
than a merger or consolidation (A) which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) more than 66(2/3)% of the combined voting
power of the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation and (B) after
which no Person holds 20% or more of the combined voting power of the
then-outstanding securities of the Company or such surviving entity; or

 

(iv)    the
shareholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company’s assets.

 

(f)  Committee:
The Compensation and Benefits Committee of the Board.

 

(g)  Company:
IMS Health Incorporated, a Delaware corporation.

 

(h)  Deferred
Share Unit: An Award granted under Section 8 upon deferral of cash
compensation representing a contractual commitment of the Company to deliver to
the Participant, at a specified future date, one Share in settlement of the
deferral. Dividend equivalents equal to the value of dividends on outstanding
shares shall be paid or credited on Deferred Share Units, if and subject to
such terms as may be specified by the Committee, including terms ensuring
convenient administration of the Plan.

 

(i)
Disability: Inability to continue to serve as a non-employee director of the
Board due to a medically determinable physical or mental impairment which
constitutes a permanent and total disability, as determined by the Committee
(excluding any member thereof whose own Disability is at issue in a given case)
based upon such evidence as it deems necessary and appropriate. A Participant
shall not be considered disabled unless he or she furnishes such medical or
other evidence of the existence of the Disability as the Committee, in its sole
discretion, may require.

 

 

(j)
Effective Date: June 30,
1998.

 

(k)
Fair Market Value: On a given
date, the arithmetic mean of the high and low prices of the Shares as reported
for such date, or if no trade was reported for such date then on the latest
preceding date for which a trade was reported, by a recognized reporting
service designated by the Committee.

 

(l)
Option: A stock option granted under the Plan.

 

(m)
Participant: Any director of the Company who has been granted an Award under
the Plan, for so long as the Award is outstanding.

 

(n)
Person: As such term is used for purposes of Section 13(d) or 14(d) of the
Act (or any successor section thereto).

 

(o)
Plan: The 1998 IMS Health
Incorporated Non-Employee Directors’ Stock Incentive Plan, as amended and
restated.

 

(p)
Restricted Stock: An Award of a Share subject to a risk of forfeiture and
non-transferability restrictions granted under Section 7 of the Plan.

 

(q)
Restricted Stock Unit or RSU: An
Award, granted under Section 7, representing a contractual commitment of
the Company to deliver to the Participant, at a specified future date, one
Share, if specified vesting conditions are met. Dividend equivalents equal to
the value of dividends on outstanding shares shall be paid or credited on RSUs,
if and subject to such terms as may be specified by the Committee, including
terms that may provide for forfeiture of such dividend equivalents if the
corresponding RSU is forfeited and terms ensuring convenient administration of
the Plan.

 

(r)
Retirement: Termination of service with the Company after such Participant has
attained age 70, regardless of the length of such Participant’s service; or,
with the prior written consent of the Committee (excluding any member thereof
whose own Retirement is at issue in a given case), termination of service at an
earlier age after the Participant has completed six or more years of service
with the Company.

 

(s)
Shares: Shares of common stock,
par value $0.01 per share, of the Company.

 

3.  Shares
Subject to the Plan

 

Subject to adjustment as provided in
Section 9(a), the total number of Shares reserved and available for
delivery under the Plan for Awards outstanding at May 2, 2003 or
thereafter granted shall be 909,962. The Shares delivered under the Plan may
consist, in whole or in part, of authorized and unissued Shares or treasury
Shares. Shares subject to an Award under the Plan that is canceled, expired,
forfeited, settled in cash, or otherwise terminated without a delivery of
Shares to the Participant, including the number of Shares withheld or
surrendered in payment of

 

 

any
exercise or purchase price of an Award, will become available for Awards under
the Plan.

 

4.  Administration

 

(a) Administrative Authority. The Plan shall be administered by the Board
or Committee, provided that any determination increasing the amount or value of
Awards that may granted in any year shall be subject to the approval of the
Board. The Committee may delegate its duties and powers in whole or in part to
any subcommittee thereof consisting solely of at least two “non-employee
directors” within the meaning of Rule 16b-3 under the Act (or any
successor rule thereto). In addition, the Committee may delegate administrative
responsibilities, including with respect to deferrals implemented under the
Plan, to an executive officer or committee of executive officers and employees.
The Board and the Committee are authorized to interpret the Plan, to establish,
amend and rescind any rules and regulations relating to the Plan, and to make
any other determinations that either deems necessary or desirable for the
administration of the Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in the Plan in the manner and to the
extent the Committee deems necessary or desirable. Any decision of the
Committee in the interpretation and administration of the Plan, as described
herein, shall lie within its sole and absolute discretion and shall be final,
conclusive and binding on all parties concerned (including, but not limited to,
Participants and their beneficiaries or successors).

 

(b)
 Restriction
on Option Repricing. Without the prior approval of the Company’s
stockholders, Options granted under the Plan will not be repriced, replaced or
regranted through cancellation or by lowering the Option Price of a previously
granted Option. For this purpose, “repriced” means: (i) amending the terms
of an Option after it is granted to lower its exercise price; (ii) any
other action that is treated as a repricing under generally accepted accounting
principles; and (iii) canceling an Option at a time when its strike price
is equal to or greater than the fair market value of the underlying Stock, in
exchange for another Option, Restricted Stock, or other equity, unless the
cancellation and exchange occurs in connection with a merger, acquisition,
spin-off or other similar corporate transaction. A cancellation and exchange
described in clause (iii) of the preceding sentence will be considered a
repricing regardless of whether the Option, Restricted Stock or other equity is
delivered simultaneously with the cancellation, regardless of whether it is
treated as a repricing under generally accepted accounting principles, and
regardless of whether it is voluntary on the part of the Participant.

 

5.  Eligibility

 

A director who is not an employee of the Company or
any subsidiary of the Company as of the date that an Award is granted shall be
eligible to participate under this Plan.

 

 

6.  Terms and
Conditions of Options

 

Options granted under the Plan shall be
non-qualified stock options for federal income tax purposes, as evidenced by
the related Option agreements, and shall be subject to the foregoing and the
following terms and conditions and to such other terms and conditions, not
inconsistent therewith, as the Board or the Committee shall determine:

 

(a)
Grants.  A
Participant may receive grants of Options, on such dates and authorizing the
purchase of such number of Shares as determined by the Board or Committee in
its sole discretion. In addition, the Board or Committee may authorize the
grant of Options in lieu of payment of fees to eligible directors, upon the
election of the director, in accordance with Section 8. The Board or
Committee may set such other terms of Options granted hereunder, subject to the
explicit provisions of the Plan.

 

(b)
Option Price.  The exercise price per Share of an Option
shall be determined by the Committee, but shall not be less than 100% of the
Fair Market Value of the Shares on the date an Option is granted.

 

(c)
Exercisability.  Options
granted under the Plan shall be exercisable at such time and upon such terms
and conditions as may be determined by the Committee, but in no event shall an
Option be exercisable more than ten years after the date it is granted.

 

(d)
Exercise of Options.  Except as otherwise provided in the Plan or in
a related Option agreement, an Option may be exercised for all, or from time to
time any part, of the Shares for which it is then exercisable. For purposes of
Section 6 of the Plan, the exercise date of an Option shall be the later
of the date a notice of exercise is received by the Company and, if applicable,
(A) the date payment is received by the Company pursuant to clauses (i),
(ii) or (iii) in the following sentence or (B) the date of sale
by a broker of all or a portion of the Shares being purchased pursuant to
clause (iv) in the following sentence. The exercise price for the Shares
as to which an Option is exercised shall be paid to the Company in full at the
time of exercise at the election of the Participant (i) in cash,
(ii) in Shares having a Fair Market Value equal to the aggregate Option
exercise price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee, including, if no additional
accounting expense to the Company will result, by directing the withholding of
Shares issuable upon exercise of the Option, (iii) partly in cash and
partly in such Shares, or (iv) through the delivery of irrevocable
instructions to a broker to deliver promptly to the Company an amount equal to
the aggregate Option exercise price for the Shares being purchased not later
than the time of delivery of the Shares to the broker, subject to limitations
under applicable law. No Participant shall have any rights to dividends or
other rights of a shareholder with respect to Shares subject to an Option until
the Participant has given written notice of exercise of the Option, paid in
full for such Shares and, if applicable, has satisfied any other conditions
imposed by the Committee pursuant to the Plan. The Committee may impose
restrictions on Option shares, subject to applicable law.

 

(e)
Termination
Provisions Relating to Certain Options.  An Option granted under this
Section 6 not in lieu of fees under Section 8 shall be subject to the

 

 

following
vesting and exercise terms in the event of termination of a Participant’s service
as a director:

 

(i)     Death.  If
a Participant’s service as a director of the Company terminates by reason of
death after the date of grant of an Option, the unexercised portion of such
Option shall immediately vest in full and the Option may thereafter be
exercised only during the shorter of (A) the remaining stated term of the
Option or (B) five years after the date of death.

 

(ii)    Disability or Retirement.  If a Participant’s service as a
director of the Company terminates by reason of Disability or Retirement after
the date of grant of an Option, the unexercised portion of such Option shall
immediately vest in full and such Option may thereafter be exercised only
during the shorter of (A) the remaining stated term of the Option or (B) five
years after the date of such termination of service; provided, however, that if
a Participant dies within a period of five years after such termination of
service, the unexercised portion of the Option may thereafter be exercised,
during the shorter of (A) the remaining stated term of the Option or
(B) the period that is the longer of five years after the date of such
termination of service or one year after the date of death.

 

(iii)   Other
Termination of Service.  Unless
otherwise specified by the Board not later than the time of grant of an Option,
if a Participant’s service as a director of the Company terminates for any
reason other than death, Disability or Retirement after the date of grant of an
Option as described above, the unexercised portion of an Option may thereafter
be exercised only during the period ending 90 days after the date of such
termination of service, but only to the extent to which such Option was
exercisable at the time of such termination of service.

 

7.  Terms and
Conditions of Restricted Stock and Restricted Stock Units

 

Restricted Stock or RSUs granted under the Plan
shall be subject to the foregoing and the following terms and conditions and to
such other terms and conditions, not inconsistent therewith, as the Board or
Committee shall determine:

 

(a)           Grants.  A Participant may receive, on
such dates as determined by the Committee in its sole discretion, grants
consisting of such amounts of Restricted Stock or RSUs as determined by the
Committee in its sole discretion.

 

(b)           Restrictions.
 Restricted Stock and RSUs granted under
the Plan shall be subject to such vesting and forfeiture terms as may be
specified by the Board or Committee not later than the time of grant of the
Award. For so long as such Award is subject to a risk of forfeiture, such Award
may not be sold, transferred, pledged, assigned or otherwise disposed of under
any circumstances. Restricted Stock Units shall remain subject to restrictions
on transferability, in accordance with Section 12, for such periods, after
the risk of forfeiture has lapsed, as may be specified by the Committee. Thus,
deferral of RSUs at the election of the Participant is specifically authorized,

 

 

provided
that any election to defer RSUs that vest in 2005 or thereafter may be elected
at any time in 2005 (but prior to the vesting date of such RSUs), to the
fullest extent permitted under and in reliance upon Proposed Treasury
Regulation § 1.409A, Preamble Section XI.C., and IRS Notice 2005-1, Q/A 19(c).

 

(c)           Acceleration.
 Notwithstanding anything in the Plan to
the contrary, (i) the restrictions set forth in Section 7(b) of the
Plan (including any elected deferral period) shall automatically lapse in the
event that a Participant terminates service as a director of the Company as a result
of death or Disability, (ii) the risk of forfeiture of RSUs shall automatically
lapse upon a Change in Control, and shares shall be distributed in settlement
of such RSUs in accordance with Section 9(b), and (iii) the Committee
(excluding any member thereof whose own Award is at issue in a given case) may,
in its sole discretion, accelerate the lapsing of the restrictions set forth in
Section 7(b) of the Plan in the event that a Participant terminates
service as a director of the Company for any other reason, except no discretion
may be exercised to accelerate or change the time of distribution of RSUs
subject to Section 409A of the Internal Revenue Code (the “Code”) except as may
be permitted under Section 409A. In the absence of such acceleration, all
Shares of Restricted Stock and all RSUs as to which the risk of forfeiture has
not previously lapsed pursuant to Section 7(b) of the Plan shall be
forfeited upon the termination of a Participant’s service with as a director of
the Company for reasons other than death or Disability.

 

8.  Issuance of
Shares, Deferred Share Units, and Options in Lieu of Cash Fees

 

The Board or Committee may authorize the grant of
Shares, Deferred Share Units, or Options in lieu of cash fees otherwise payable
to a non-employee director for service to the Company in their capacity as a
director, if and to the extent elected by the director. Cash fees for these
purposes includes annual retainer, meeting fees, such fees for service as a
member of a Board committee, and fees for service in a leadership capacity with
respect to the Board or a committee. Awards granted under this Section 8
shall be subject to the foregoing and the following terms and conditions and to
such other terms and conditions, not inconsistent therewith, as the Board or Committee
shall determine:

 

(a)
Grant of Shares or Deferred Share Units.
 The number of Shares or Deferred Share
Units granted in lieu of cash fees shall be determined by dividing the amount
of cash fees being forgone or deferred by the director by the Fair Market Value
of a Share at the date such fees were otherwise payable or another date
designated by the Committee, not later than 90 days after the date such
fees were otherwise payable.

 

(b)
Grant of Options.  The number of Options granted in
lieu of cash fees shall be determined by dividing the amount of cash fees being
forgone by the director by the Option value at the date such fees were
otherwise payable or another date designated by the Committee. Such designated
date may be at any time within a reasonable period, not exceeding approximately
one year, over which the director’s fees being forgone otherwise would have
been payable. The Committee may specify vesting and forfeiture terms to provide
that the Option will not be retained if the service for which the director
would

 

 

have
received the cash fees is not in fact performed. Option value shall be
determined from time to time by the Committee, based on a reasonable stock
option valuation methodology consistently applied, provided that the Committee
may specify a uniform Option value or a formula for determining such value that
may remain in effect for a period of approximately one year, for administrative
convenience and to provide predictable terms to Participants committing to
forgo fees.

 

(c)
Other Terms of Deferred Share Units and
Options In Lieu of Fees.  Subject
to Section 6 and other provisions of the Plan, the Board or Committee may
specify the duration of Deferred Share Units and Options, settlement dates of
Deferred Share Units, any post-termination exercise periods of Options, and all
other terms of Awards to be granted in lieu of fees, including terms relating
to the deferral of such fees.

 

9.  Adjustments
Upon Certain Events

 

Notwithstanding any other provision in the Plan to
the contrary, the following provisions shall apply to all Awards granted under
the Plan:

 

(a) Generally.  In the event of any change in the outstanding Shares after the Effective Date by reason of any Share dividend or split, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of Shares of other corporate exchange, or any large, special, and non-recurring distribution to Shareholders, the Committee in its sole discretion and without liability to any person may make such substitution or adjustment, if any, as it deems to be equitable, as to (i) the number or kind of Shares or other securities issued or reserved for issuance pursuant to the Plan or pursuant to outstanding Awards, (ii) the Option exercise price and/or (iii) any other affected terms of such Awards, and the Committee make such adjustments to outstanding Awards as it deems necessary or appropriate to preserve without enlarging the rights of each Participant with respect to his or her Award.
 

(b)
Change in Control.  In the event of a Change in Control, the
Committee in its sole discretion and without liability to any person may take
such actions, if any, as it deems necessary or desirable with respect to any
Award (including, without limitation, (i) the acceleration of an Award,
(ii) the payment of a cash amount in exchange for the cancellation of an
Award and/or (iii) the requiring of the issuance of substitute Awards that
will substantially preserve the value, rights and benefits of any affected
Awards previously granted hereunder) as of the date of the consummation of the
Change in Control; provided, however, that with respect to RSUs and Deferred
Share Units, upon a Change in Control which constitutes (or involves related
transactions which constitute) “a change in the ownership or effective control
of the corporation, or in the ownership of a substantial portion of the assets
of the corporation,” within the meaning of Proposed Treasury Regulation §§
1.409A-3(a)(5) and (g)(5) (a “409A Change in Control”) and any successor thereto,
such Awards shall be distributed in a lump sum not later than five business
days after such Change in Control (except 
such distribution shall be simultaneous with the 409A Change in Control
if necessary to permit Participants to participate in a transaction that is
related to the 409A Change in Control, such as a tender offer); and provided
further, that the Committee shall not otherwise exercise

 

 

discretion
hereunder to accelerate any distribution to the extent that such acceleration
would result in constructive receipt or tax penalties under Code Section 409A
prior to the actual distribution of the shares or cash to the Participant.

 

10.  Successors
and Assigns

 

The Plan shall be binding on all successors and
assigns of the Company and a Participant, including without limitation, the
estate of such Participant and the executor, administrator or trustee of such
estate, or any receiver or trustee in bankruptcy or representative of the
Participant’s creditors, or any designated beneficiary.

 

11.  Amendments
and Termination

 

The Board may amend, alter, discontinue or terminate
the Plan, except that any amendment or alteration shall be subject to the
approval of the Company’s shareholders at or before the next annual meeting of
shareolders for which the record date is after the date of such Board action if
(a) such shareholder approval is required by any federal or state law or
regulation or the rules of any stock exchange or automated quotation system on
which the Shares may then be listed or quoted, or (b) such amendment or
alteration would materially increase the number of shares reserved for the
purposes of the Plan, materially broaden the class of persons eligible to
participate in the Plan or materially increase benefits accruing to Participants.
The Board may, in its discretion, determine to submit other amendments or
alterations to the Plan to shareholders for approval. The Committee may act to
amend or alter the Plan, but only if the amendment would not require
shareholder approval and otherwise does not materially increase the cost of the
Plan to the Company. The Board or Committee can act to amend outstanding
Awards. The foregoing notwithstanding, no amendment or other change to the Plan
or to the terms of an outstanding Award shall be made which would materially
and adversely affect the rights of a Participant under any Award theretofore
granted without such Participant’s consent.

 

12.  Nontransferability
of Awards

 

An Award shall not be transferable or assignable by
the Participant otherwise than by will or by the laws of descent and
distribution. During the lifetime of a Participant, an Award shall be
exercisable only by such Participant. An Award exercisable after the death of a
Participant may be exercised by the legatees, personal representatives or
distributees of the Participant or a beneficiary designated in accordance with
procedures specified by the Company. Notwithstanding anything to the contrary
herein, the Committee, in its sole discretion, shall have the authority to
waive this Section 12 (or any part thereof) to the extent that this
Section 12 (or any part thereof) is not required under the rules
promulgated under any law, rule or regulation applicable to the Company and is
not required in order that the Participant not be subject to constructive
receipt of income or tax penalties under Code Section 409A prior to the actual
distribution of shares or cash in settlemenet of the Award.

 

 

13.  Nonexclusivity
of the Plan

 

Neither the adoption of the Plan by the Board nor
any submission of the Plan or amendments thereto to a vote of shareholders of
the Company shall be construed as creating any limitations on the power of the
Board or Committee to adopt such other compensatory arrangements as it may deem
desirable, including, without limitation, the granting of awards otherwise than
under the Plan, and such other arrangements may be either applicable generally
or only in specific cases.

 

14.  Choice of
Law

 

The Plan shall be governed by and construed in
accordance with the laws of the State of New York applicable to contracts made
and to be performed in the State of New York.

 

15.  Effectiveness
of the Plan and Plan Termination

 

The Plan became effective as of the Effective Date.
The Plan will terminate at such time as no Shares remain available for issuance
and the Company has no further obligations with respect to outstanding Awards.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]