Document:

Exhibit 10.24

 

This document is an English translation of a document prepared in German. In case of any ambiguity, the German text shall
prevail.

  

2. Supplement to the rental contract

dated June 6, 2018 

and 1st supplement dated July 16/23,
2018

 

between

 

Fränkel Immobilien-Service GmbH, Allmandstraße
6, 88045 Friedrichshafen

 

and

 

CureVac Real Estate GmbH, Paul-Ehrlich-Straße 15,
72076 Tübingen

 

and

 

HSB Vermietungs- und Verpachtungs- GmbH & Co. KG,
Kaiserstraße 58,

88348 Bad Saulgau

 

(Hereinafter also referred to as “parties”)

 

Preamble

 

Fränkel Immobilien-Service GmbH concluded a rental contract
with CureVac Real Estate GmbH on June 6, 2018 for two buildings still to be constructed on the land at Friedrich-Miescher-Strasse
15 in Tübingen (hereinafter referred to as the "land"). Fränkel Immobilien-Service GmbH was not yet
the owner of the land at the time the rental contract was concluded.

 

Fränkel Immobilien-Service GmbH has in the meantime refrained
from executing the overall project and is entitled to withdraw from the rental contract until August 31, 2018 in accordance with
Section 14 of the rental contract dated June 6, 2018 in conjunction with the 1st supplement to the rental contract dated July 16/23,
2018.

 

In order to ensure that the project can be realised in a timely
manner, HSB Vermietungs- und Verpachtungs- GmbH & Co. KG intends to acquire the land itself in the first week of September
2018 and enter into the rental contract from June 6, 2018 and the first supplement to the rental contract from July 16/23, 2018.

 

    1 

     

    

 

In order not to risk any further delays to the project,
which is expected to start construction on September 17, 2018, HSB Vermietungs- und Verpachtungs- GmbH & Co. KG also does
not await the conclusion of a purchase contract for the project with a buyer. Instead, after conclusion of a purchase
contract for the project between HSB Vermietungs- und Verpachtungs- GmbH & Co. KG and a buyer, the parties intend to
transfer the lease to the buyer by way of a further supplement (see No. 9).

 

Against this background, the parties agree to the following
provisions as the 2nd supplement to the rental contract dated June 6, 2018 together with the 1st supplement dated July 16/23, 2018:

 

	1.	Fränkel Immobilien-Service GmbH withdraws as landlord from the rental contract with CureVac Real Estate GmbH with effect
from the signing of this 2nd supplement to the rental contract dated June 6, 2018 together with the 1st supplement dated July 16/23,
2018.

 

	2.	HSB Vermietungs- und Verpachtungs- GmbH & Co. KG will replace Fränkel Immobilien-Service GmbH as landlord in the existing
rental contract dated June 6, 2018 together with the 1st supplement dated July 16/23, 2018 with CureVac Real Estate GmbH taking
effect with the signing of this second supplement to the rental contract on the part of the landlord.

 

	3.	Section 2, No. 1, third subparagraph, sentence 1 of the rental contract of June 6, 2018 is amended as follows:

 

"The Landlord undertakes to hand over the
relevant rental property immediately after completion of the relevant rental property as described in Section 1 No. (1) of this
contract, probably on 11.15.2019, at the latest on 02.15.2020 for rental property 1 and 04.15.2020, at the latest on 09.15.2020
for rental property 2.”

 

		4.	Section 11, No. 1, letter a), sentence 1 of the rental contract dated June 6, 2018 is amended as follows:

 

"The tenant shall provide a deposit of €
344,576.40 (gross rent in accordance with Section 3 No. 1 of the contract for rental property 1 including VAT for 3 months) two
weeks before the handover of rental property 1".

 

	5.	Section 11, No. 1, letter b), sentence 1 of the rental contract dated June 6, 2018 is amended as follows:

 

"The tenant shall provide a deposit of €
344,576.40 (gross rent in accordance with Section 3 No. 1 of the contract for rental property 1 including VAT for 3 months) two
weeks before the handover of rental property 2".

 

    2 

     

    

	6.	In addition, the parties agree to the regulation on the payment of a construction cost subsidy by the tenant, which is in the
annex to this supplement to the rental contract, as a new Section 11 a of the rental contract.

 

	7.	Section 14, para. 1, letter a) of the rental contract from June 6, 2018 in the version of the first supplement to the rental
contract of July 16/23, 2018 is amended as follows:

 

"The landlord expressly reserves the right
to withdraw from the contract. This can be exercised if

 

		a)	a legally binding purchase contract between the landlord and the University City of Tübingen in the form of Section
311 b of the German Civil Code (BGB) has not been concluded for the building plot by 30 September 2018 at the latest".

 

	8.	Section 14, para. 4 of the rental contract dated June 6, 2018 in the version of the first supplement to the rental contract
dated July 16/23, 2018 is amended as follows:

 

“The contracting parties agree that the
withdrawal from the landlord is to be exercised in writing as follows: 

 

- to the above number (3) a) by 30 September 2018
at the latest."

 

	9.	Section 15, sentence 1 of the rental contract dated June 6, 2018 in the version of the first supplement to the rental contract
dated July 16/23, 2018 is amended as follows:

 

“If the landlord has not handed over to
the tenant rental property 1 in accordance with Section 1 (1) by 02.15.2020 at the latest or rental property 2 by 09.15.2020 at
the latest, as specified in the contract, the landlord is obliged, due to the delayed handover, to pay the tenant a contractual
penalty of € 5,000 for each day that the tenant is unable to use the respective rental property but up to a maximum of one
month's rent for the rental property concerned.”

 

	10.	HSB Vermietungs- und Verpachtungs- GmbH & Co. KG undertakes to provide a guarantee from its general contractor for the
construction project, Georg Reisch GmbH & Co. KG, with a total amount of up to € 2,000,000.00, in order to secure any
possible claim for damages by CureVac Real Estate GmbH against HSB Vermietungs- und Verpachtungs- GmbH & Co. KG resulting from
the fact that HSB Vermietungs- und Verpachtungs- GmbH & Co. KG does not hand over the rental property 1 and the rental property
2 to CureVac Real Estate GmbH at the latest handover times specified in No. 3 of this second supplement.

 

The guarantee shall expire upon handover of rental
property 1 and rental property 2 or if HSB Vermietungs- und Verpachtungs- GmbH & Co. KG has offered to hand over rental property
1 and rental property 2 to CureVac Real Estate GmbH in a manner that causes default of acceptance.

 

    3 

     

    

 

	11.	HSB Vermietungs- und Verpachtungs- GmbH & Co. KG is entitled to transfer its rights and obligations under this contract
to a third party at any time without the consent of CureVac Real Estate GmbH. With the announcement of this legal succession to
CureVac Real Estate GmbH, HSB Vermietungs- und Verpachtungs- GmbH & Co. KG shall terminate all rights and obligations arising
from the contractual relationship with CureVac Real Estate GmbH. The provisions of Sections 566(2), 578(1) of the German Construction
Contract Procedures (BOB) are excluded. The HSB Vermietungs- und Verpachtungs- GmbH & Co. KG is not liable to CureVac Real
Estate GmbH as guarantor for the fulfilment of the rental contract by the buyer in the event of the sale of the rental property.
The contracting parties must record such a change of landlord in a written supplement to the rental contract.

 

	12.	The remaining contractual provisions of the rental contract dated June 6, 2018 apply unchanged between HSB Vermietungs- und
Verpachtungs- GmbH & Co. KG as the new landlord and CureVac Real Estate GmbH as tenant.

 

	Friedrichshafen,	08.17.2018 	 	Tübingen,	08.20.2018
	 	 	 
	 Fränkel 	 	 
	 Immobilien-Service GmbH 	 	
	Allemandstraße 6	 	/s/CureVac Real Estate GmbH   
	88045 Friedrichshafen	 	CureVac Real Estate GmbH 
	 	 	(Tenant)
	/s/ Fränkel Immobilien-Service GmbH	 	 
	Fränkel Immobilien-Service GmbH	 	 
	(former Landlord)  	 	 
	 	 	 
	Bad Saulgau,	08.17.2018	 	Tübingen,	08.22.18 

 

		 	/s/ Pierre Kemula
	HSB Vermietungs- und Verpachtungs- GmbH & Co. KG	 	Pierre Kemula
	(new Landlord)	 	Chief Financial Officer
	 	 	 
	 	 	/s/ Dr. Franz-Werner Haas
	 	 	Dr. Franz-Werner Haas
	 	 	Chief Corporate Officer
	 	 	 
	 	 	CureVac AG
	 	 	(Joint and several debtor together with CureVac Real Estate GmbH)

 

    4 

     

    

 

Annex to the 2nd supplement to the rental contract dated
June 6, 2018 and the 1st supplement dated July 16/23, 2018

  

Section 11a Construction cost subsidy/rent
security deposit

 

		1.	The parties agree that the rental property will be erected by the landlord according to the tenant's
individual needs of use.

 

In order to be able to construct
the new rental property, the tenant pays a construction cost subsidy to the landlord, which also serves as a rent security deposit.

 

The construction cost subsidy
is paid by the tenant for both construction phases.

 

The construction cost subsidy
for the 1st construction phase amounts to € 2,756,611.20 (gross rent according to Section 3 (1) of the rental contract for
rental property 1 including VAT for 24 months). It is due for payment to the landlord from the start of construction of the 1st
construction phase, whereby construction commences upon presentation of the notice of commencement of construction in accordance
with Section 59 (2) of the Regional Building Regulations (LBO). Payment shall be made concurrently against delivery of the guarantee
of Georg Reisch GmbH & Co. KG, which is described in more detail in Section 10 of the 2nd supplement to the rental
contract (to which this regulation is attached as an annex).

 

The construction cost subsidy
for the 2nd construction phase amounts to € 2,756,611.20 (gross rent according to Section 3 (1) of the rental contract for
rental property 2 including VAT for 24 months). This construction cost subsidy is due for payment to the landlord at the start
of construction work on the 2nd construction phase, whereby construction commences at the start of the excavation work. Payment
shall be made concurrently against delivery of the guarantee of Georg Reisch GmbH & Co. KG, which is described in more detail
in Section 10 of the 2nd supplement to the rental contract (to which this regulation is attached as an annex).

 

The contracting parties shall
make the following arrangements for handling the construction cost subsidy by mutual agreement in accordance with Section 547 of
the German Civil Code (BGB).

 

	2.	The construction cost advances paid by the tenant in accordance with No. 1 of this agreement shall
bear interest at a rate of 1.5% p.a., payable by the landlord at the end of each year. The amount of interest is added to the advance
on construction costs.

 

	3.	The advances on construction costs paid by the tenant are offset in equal parts against the current
monthly rent owed under the contract for the last 5 years of the rental period. By offsetting, the rent for the last 5 years of
the rental period is partially satisfied monthly. The construction cost subsidies will only be offset against the rent; the tenant
is obliged to bear the operational costs
until the end of the rental period in accordance with Section 3 No. 5 of the rental contract and to make the advance payment of
operational costs in accordance with Section 3 Paragraphs 1 and 7 of the rental contract to the landlord in due time in accordance
with Section 3 Paragraph 3 of the rental contract.

 

    1 

     

    

 

Annex to the 2nd supplement to the rental contract from June
6, 2018 and the 1st supplement from July 16/23, 2018

 

	4.	If the rental relationship ends before expiry of the contractually agreed rental period for an
important reason attributable to the tenant, the construction cost subsidy not yet offset against the rent up to this point in
time in accordance with the above section 3.), which then serves as a rent security deposit, shall be offset as follows:

 

		-	The remaining construction cost subsidy is initially offset against the loss of rent that the landlord
suffers in the period between the termination of the tenancy and the establishment of a new subsequent tenancy.

 

		-	The construction cost subsidy is offset against the expenses incurred by the landlord to convert
the rental property in order to enable the rental property to be re-let through a subsequent tenancy.

 

		-	The construction cost subsidy is offset against the landlord's loss of rental income which the
landlord suffers until the expiry of the contractually agreed fixed rental period because the rent of the subsequent tenancy is
lower than the last contractual rent of this contract.

 

The remaining
construction cost subsidy or rent security deposit shall be returned by the landlord to the tenant in accordance with the principles
of restitution of unjust enrichment (Sections 812 et seq. of the German Civil Code (BGB)). In this case, however, the existence
of unjust enrichment is only finally determined at the end of the fixed rental period by balancing the construction cost subsidy
against the above-mentioned deductions (indents 1 to 3). The objection of financial loss is excluded.

 

		-	An important reason for termination of the tenancy attributable to the tenant is also a termination
of the tenancy in accordance with Section 109 of the German Insolvency Code (lnsO) by the temporary or permanent insolvency administrator
in the event of an application and/or opening of insolvency proceedings on the assets of the tenant.

 

    2 

     

    

 

Annex to the 2nd supplement to the rental contract from June
6, 2018 and the 1st supplement from July 16/23, 2018

 

 

	5.	If the rental relationship ends before expiry of the agreed rental period for an important reason
for which the landlord is responsible, the tenant is in principle entitled to claim repayment of the construction cost subsidy
from the landlord. The landlord is entitled to offset all claims against the
tenant to which the landlord is entitled from the tenancy against the tenant's claim for repayment, in particular arrears from
rent payments and advance payments of operational costs, as well as claims of the landlord from completed operational costs settlements.
This offsetting must take place before the rent security deposit is used in accordance with Section 11.

 

	6.	Any claims of the tenant for repayment of the construction cost subsidies after the settlements
in accordance with the above paragraphs shall bear interest at the earliest from the effective date of termination or other termination
of the tenancy.

 

    3Exhibit

Exhibit 10.1
Hamilton beach brands holding company 
EXECUTIVE LONG-TERM EQUITY INCENTIVE PLAN
(Amended and Restated Effective March 1, 2020)

Hamilton Beach Brands Holding Company (“Company”) hereby amends the Hamilton Beach Brands Holding Company Executive Long-Term Equity Incentive Plan (“Plan”), effective March 1, 2020.

		
	1.
	Purpose of the Plan

The purpose of this Plan is to help further the long-term profits and growth of the Company by enabling the Company and/or its subsidiaries (together with the Company, the “Employers”) to attract, retain and reward executive employees of the Employers by offering long-term incentive compensation to those who will be in a position to make contributions to such profits and growth. This incentive compensation is in addition to annual compensation and is intended to encourage enhancement of the Company’s stockholder value.

		
	2.
	Definitions

(a)“Average Award Share Price” means the lesser of (i) the average of the closing price per share of Class A Common Stock on the New York Stock Exchange, or, if not listed on such exchange, on any other national securities exchange on which the shares of Class A Common Stock are listed, on the Friday (or if Friday is not a trading day, the last trading day before such Friday) for each week during the calendar year preceding the commencement of the Performance Period (or such other previous period as determined by the Committee and specified in the Guidelines; provided that such determination shall be made not later than 90 days after the commencement of the applicable Performance Period and not later than the completion of 25% of such Performance Period) or (ii) the average of the closing price per share of Class A Common Stock on the New York Stock Exchange, or, if not listed on such exchange, on any other national securities exchange on which the shares of Class A Common Stock are listed, on the Friday (or if Friday is not a trading day, the last trading day before such Friday) for each week of the applicable Performance Period. 

(b)“Award” means an award paid to a Participant under this Plan for a Performance Period (or portion thereof), the actual payout of which is determined pursuant to a formula based upon the achievement of Performance Objectives which is established by the Committee; provided that such formula shall be established not later than 90 days after the commencement of the Performance Period on which the Award is based and prior to the completion of 25% of such Performance Period. The Committee shall allocate the amount of an Award between the cash component, to be paid in cash, and the equity component, to be paid in Award Shares, pursuant to a formula which is established by the Committee; provided that such formula shall be established not later than 90 days after the commencement of the Performance Period on which the Award is based and prior to the completion of 25% of such Performance Period.

(c)“Award Shares” means fully paid, non-assessable shares of Class A Common Stock that are issued or transferred pursuant to, and with such restrictions as are imposed by, the terms of this Plan and the Guidelines. Such shares may be shares of original issuance or treasury shares or a combination of the foregoing and, in the discretion of the Company, may be issued as certificated or uncertificated shares.

(d)“Change in Control” means the occurrence of an event described herein Section 7.

(e)“Class A Common Stock” means the Company’s Class A Common Stock, par value $0.01 per share, or any security into which such Class A Common Stock may be changed by reason of any transaction or event of the type referred to in Section 9(b) of this Plan.

		
	(f)
	“Code” means the Internal Revenue Code of 1986, as amended.

(g)“Committee” means the Compensation Committee of the Company’s Board of Directors or any other committee appointed by the Company’s Board of Directors to administer this Plan in accordance with Section 3.

(h)“Disability” or “Disabled” means a condition approved for disability benefits under an Employer’s long-term disability insurance policy.

(i)“Guidelines” means the guidelines that are approved by the Committee for the administration of the awards granted under this Plan. To the extent that there is any inconsistency between the Guidelines and this Plan on matters other than the time and form of payment of the Awards, the Guidelines will control, so long as this Plan could have been amended to resolve such inconsistency without the need for further stockholder approval.

(j)“Participant” means any person who is classified as a salaried employee of the Employers on a U.S. payroll (including directors of the Employers who are also salaried employees of the Employers) who, in the judgment of the Committee, occupies an executive position in which his or her efforts may contribute to the interests of the Company and who is designated by the Committee as a Participant in the Plan for a particular Performance Period.  Notwithstanding the foregoing, (i) leased employees (as defined in Code Section 414) shall not be eligible to participate in this Plan and (ii) persons who are participants in the Hamilton Beach Brands, Inc. Long-Term Incentive Compensation Plan (or any successor plan) for a particular Performance Period shall not be eligible to participate in this Plan for the same Performance Period.

(k)“Payment Period” means, with respect to any Performance Period, the period from January 1 to March 15 of the calendar year immediately following the calendar year in which such Performance Period ends.

(l)“Performance Objectives” shall mean the measurable performance objectives established pursuant to this Plan for Participants.  Performance Objectives may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual Participant or one or more of the subsidiaries, divisions, business units, departments, regions, functions or other organizational units of the Company or its subsidiaries. Performance Objectives may be measured on an absolute or relative basis.  Different groups of Participants may be subject to different Performance Objectives for the same Performance Period. Relative performance may be measured against other companies or subsidiaries, divisions, departments, regions, functions or other organizational units within such other companies, or against an index or one or more of the Performance Objectives themselves.  Any Performance Objectives applicable to an Award shall be based on one or more, or a combination, of the following criteria, or the attainment of specified levels of growth or improvement in one or more, or a combination, of the following criteria (which criteria may be applied to the Company and all of its subsidiaries, divisions, business units, departments, regions, functions or other organizational units or to only one or any combination of the Company and its subsidiaries, divisions, business units, departments, regions, functions or other organizational units):  return on equity, return on total capital employed, diluted earnings per share, total earnings, earnings growth, return on capital, return on assets, return on sales, earnings before interest and taxes, revenue, revenue growth, gross margin, net or standard margin, return on investment, increase in the fair market value of shares, share price (including, but not limited to, growth measures and total stockholder return), profit, net earnings, cash flow (including, but not limited to, operating cash flow and free cash flow), inventory turns, financial return ratios, market share, earnings measures/ratios, economic value added, balance sheet measurements (such as receivable turnover), internal rate of return, customer satisfaction surveys or productivity, net income, operating profit or increase in operating profit, market share, increase in market share, sales value increase over time, economic value income, economic value increase over time, expected value of new projects or extensions of new or existing projects, development of new or existing projects, adjusted standard margin or net sales, safety, and compliance with regulatory/environmental requirements.

(m)“Performance Period” means any period of one or more years (or portion thereof) on which an Award is based, as established by the Committee and specified in the Guidelines. Any Performance Period(s) 

shall be established by the Committee not later than 90 days after the commencement of the Performance Period on which such Award will be based and prior to completion of 25% of such Performance Period.

(n)“Retire” means either:

(i)to terminate employment under circumstances that entitle the Participant to immediate commencement of his pension benefits under any of the qualified defined benefit pension plans sponsored by the Employers; or 
(ii)for Participants who are not members of such a plan, to terminate employment after reaching (A) age 65; or (B) age 60 with at least 5 years of service.
(o)“Rule 16b-3” means Rule 16b-3 promulgated under the Securities Exchange Act of 1934 (or any successor rule to the same effect), as in effect from time to time.

(p)“Salary Points” means the salary points assigned to a Participant by the Committee for the applicable Performance Period pursuant to the Korn Ferry salary point system, or any successor salary point system adopted by the Committee.

(q)“Target Award” means a dollar amount calculated by multiplying (i) the designated salary midpoint that corresponds to a Participant’s Salary Points by (ii) the long-term incentive compensation target percent for those Salary Points for the applicable Performance Period, as determined by the Committee.  The Target Award is the amount that would be paid to a Participant under this Plan if each Performance Objective is met exactly at target.

		
	3.
	Administration

This Plan shall be administered by the Committee. The Committee shall have complete authority to interpret all provisions of this Plan consistent with applicable law, to prescribe the form of any instrument evidencing any Award granted under this Plan, to adopt, amend and rescind general and special rules and regulations for its administration (including, without limitation, the Guidelines), and to make all other determinations necessary or advisable for the administration of this Plan.  A majority of the Committee shall constitute a quorum, and the act of a majority of the members of the Committee present at any meeting at which a quorum is present, unless a greater number is required by law, the Company’s Certificate of Incorporation or its Bylaws, or acts unanimously approved in writing, shall be the act of the Committee. All acts and decisions of the Committee with respect to any questions arising in connection with the administration and interpretation of this Plan or of any documents evidencing Awards under this Plan, including the severability of any or all of the provisions hereof or thereof, shall be conclusive, final and binding upon the Employers and all present and former Participants, all other employees of the Employers, and their respective descendants, successors and assigns. No member of the Committee shall be liable for any such act or decision made in good faith. In addition, the Committee is authorized to take any action it determines in its sole discretion to be appropriate subject only to the express limitations contained in this Plan, and no authorization in any Plan section or other provision of this Plan is intended or may be deemed to constitute a limitation on the authority of the Committee.

		
	4.
	Eligibility

Except as otherwise determined by the Committee or provided in Section 7, to be eligible to participate in this Plan and receive a Target Award in accordance with Section 5 the Participant either must (i) be employed by an Employer on the last day of the Performance Period; (ii) die during the Performance Period; (iii) become permanently Disabled during the Performance Period; or (iv) Retire during the Performance Period.  Notwithstanding the foregoing or any other provision in the Plan,  the Award of a Participant who is described in the preceding sentence or who is employed on the last day of the Performance Period but was not employed during the entire Performance Period shall be pro-rated based on the number of days the Participant actually was employed during the Performance Period. 

		
	5.
	Awards

The Committee may, from time to time and upon such conditions as it may determine, authorize grants of Awards to Participants, which shall be consistent with, and shall be subject to all of the requirements of, the following provisions:

(a)The Committee shall approve (i) a Target Award to be granted to each Participant and (ii) a formula for determining the payout of each Award, which formula is based upon the Company’s achievement of Performance Objectives as set forth in the Guidelines; provided, however, that the Committee shall approve the foregoing not later than the 90th day of the applicable Performance Period and prior to the completion of 25% of such Performance Period. Each grant shall specify an initial allocation between the cash portion of the Award and the equity portion of the Award. Calculations of Target Awards for a Performance Period shall initially be based on a Participant’s Salary Points as of January 1st of the first year of the Performance Period. However, such Target Awards may be changed during or after the Performance Period under the following circumstances:  (i) if a Participant receives a change in Salary Points, salary midpoint and/or long-term incentive compensation target percentage during a Performance Period, such change will be reflected in a pro-rata Target Award, (ii) employees hired into or promoted to a position eligible to become a Plan Participant during a Performance Period will, if designated as a Plan Participant by the Committee, be assigned a pro-rated Target Award based on their length of service during a Performance Period, and (iii) the Committee may increase or decrease the amount of a Target Award at any time, in its sole and absolute discretion; provided, however, that no such decrease described in clause (iii) may occur in connection with or following a Change in Control that occurs during or after the applicable Performance Period.  

(b)Prior to the end of the Payment Period, the Committee shall approve (i) a preliminary calculation of the amount of the payout of each Award based upon the application of the formula and actual performance to the Target Awards previously determined in accordance with Section 5(a); and (ii) a final calculation of the amount of each Award to be paid to each Participant for the Performance Period. Such approval shall be certified in writing by the Committee before any amount is paid under any Award with respect to that Performance Period. Notwithstanding the foregoing, the Committee shall have the power to (1) decrease the amount of the payout of any Award below the amount determined in accordance with Section 5(b)(i); (2) increase the amount of the payout of any Award above the amount determined in accordance with Section 5(b)(i); and/or (3) adjust the allocation between the cash portion of the Award and the equity portion of the Award; provided, however, that no such decrease described in clause (1) may occur in connection with or following a Change in Control that occurs during or after the applicable Performance Period. No Award, including any Award equal to the Target Award, shall be payable under this Plan to any Participant except as determined and approved by the Committee.

(c)Each Award shall be 100% vested when and to the extent the Committee determines that it has been earned pursuant to Subsection (b) and shall be fully paid to the Participants no later than the last day of the Payment Period, partly in cash and partly in Award Shares. The whole number of Award Shares to be issued or transferred to a Participant shall be determined by dividing the equity portion of the Award payout by the Average Award Share Price (subject to adjustment as described in Subsection (b) above), with any fractional Award Shares resulting from such calculation payable in cash as provided under the Guidelines. The Company shall pay any and all brokerage fees and commissions incurred in connection with any purchase by the Company of shares which are to be issued or transferred as Award Shares and the transfer thereto to Participants. Awards shall be paid subject to all withholdings and deductions pursuant to Section 6. Notwithstanding any other provision of this Plan, the maximum amount paid to a Participant in a single calendar year as a result of Awards under this Plan (including the fair market value of any Award Shares paid to the Participant) shall not exceed the greater of (i) $12,000,000 or (ii) the fair market value of 500,000 Award Shares, determined at the time of payment. 

		
	6.
	Withholding Taxes/Offsets

(a)To the extent that an Employer is required to withhold federal, state or local income taxes or other amounts in connection with any Award paid to a Participant under this Plan, and the amounts available to the Employer for such withholding are insufficient, it shall be a condition to the receipt of such Award that the Participant make arrangements satisfactory to the Company for the payment of the balance of such taxes or other amounts required to be withheld, which arrangements (in the discretion of the Committee) may include relinquishment of a portion of such Award. If a Participant’s benefit is to be received in the form of shares of Class A Common Stock, and such Participant fails to make arrangements for the payment of taxes or other amounts, then, unless otherwise determined by the Committee, the Company will withhold shares of Class A Common Stock having a value equal to the amount required to be withheld. Notwithstanding the foregoing, when a Participant is required to pay the Company an amount required to be withheld under applicable income tax or other laws, the Participant may elect, unless otherwise determined by the Committee, to satisfy the obligation, in whole or in part, by having withheld, from the shares of Class A Common Stock required to be delivered to the Participant, shares of Class A Common Stock having a value equal to the amount required to be withheld or by delivering to the Company other shares of Class A Common Stock held by such Participant. The shares of Class A Common Stock used for tax or other withholding will be valued at an amount equal to the fair market value of such shares of Class A Common Stock on the date the benefit is to be included in Participant’s income.  In no event will the fair market value of the shares of Class A Common Stock to be withheld and delivered pursuant to this Section 6(a) to satisfy applicable withholding taxes or other amounts in connection with the benefit exceed the maximum amount that could be required to be withheld. The Company and a Participant may also make similar arrangements with respect to the payment of any other taxes derived from or related to the Award with respect to which withholding is not required.

(b)If, prior to the payment of any Award, it is determined by an Employer, in its sole and absolute discretion, that an amount of money is owed by the Participant to the Employer, the Award otherwise payable to the Participant may be reduced (to the extent permitted under Section 409A of the Code) in satisfaction of the Participant’s debt to such Employer. Such amount(s) owed by the Participant to the Employer may include, but is not limited to, the unused balance of any cash advances previously obtained by the Participant, or any outstanding credit card debt incurred by the Participant.  

(c)Notwithstanding the foregoing, nothing in the Plan or an Award shall affect the Committee’s ability (subject to approval by the Board of Directors) to recover all or part of any previously granted Award pursuant to an existing or future policy established by the Committee in accordance with the requirements of an applicable national securities exchange, Dodd-Frank Wall Street Reform, or other applicable law.
		
	7.
	Change in Control

This Section shall apply notwithstanding any other provision of the Plan to the contrary.

(a)Amount of Award for Year of Change In Control.  In the event of a Change in Control during a Performance Period, the amount of the Award shall be equal to the Participant’s Target Award for such Performance Period, multiplied by a fraction, the numerator of which is the number of days during the Performance Period during which the Participant was employed by the Employers prior to the Change in Control and the denominator of which is the number of days in the Performance Period.  Notwithstanding the foregoing, no Award shall be payable to a Participant pursuant to this Section 7 unless the Participant either (i) is employed by an Employer on the date of the Change in Control; (ii) died during the applicable Performance Period and before the Change in Control; (iii) became permanently Disabled during the applicable Performance Period and before the Change in Control; or (iv) Retired during such Performance Period and before the Change in Control.

(b)Time of Payment.  Upon a Change in Control, the payment date of all outstanding Awards (including, without limitation, the pro-rata Target Award for the Performance Period during which the Change in Control occurred) shall be a date that is between two days prior to and 30 days after the date of the Change in Control, as determined by the Committee in its sole and absolute discretion.
 

(c)Applicability of Change In Control Provision.  The term “Change in Control” shall mean the occurrence of (i)(A), (i)(B), or (i)(C), below; provided that such event occurs on or after March 1, 2020 and meets the requirements of Treasury Regulations Section 1.409A-3(i)(5) (or any successor or replacement thereto) with respect to a Participant:
		
	(i)
	Change in Control Events.

(A)Any “Person” (as such term is used in Sections 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than one or more Permitted Holders (as defined below), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 of the Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Voting Securities”), other than any direct or indirect acquisition, including but not limited to an acquisition by purchase, distribution or otherwise, of voting securities: 
        (1) directly from the Company that is approved by a majority of the Incumbent Directors (as defined below); or

(2) by any Person pursuant to an Excluded HBBHC Business Combination (as defined below); 

provided, that if at least a majority of the individuals who constitute Incumbent Directors determine in good faith that a Person has become the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of more than 50% of the combined voting power of the Outstanding Voting Securities of the Company inadvertently, and such Person divests as promptly as practicable a sufficient number of shares so that such Person is the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of 50% or less of the combined voting power of the Outstanding Voting Securities of the Company, then no Change in Control shall have occurred as a result of such Person’s acquisition; or

(B)    a majority of the Board of Directors of the Company ceases to be comprised of Incumbent Directors; or

(C)    the consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets of another corporation, or other similar transaction involving the Company (“HBBHC Business Combination”) excluding, however, any HBBHC Business Combination that relates solely to the business or assets of The Kitchen Collection, LLC (or any successor thereto) and further excluding, however, any HBBHC Business Combination pursuant to which both of the following apply (either such HBBHC Business Combination, an “Excluded HBBHC Business Combination”):

(1) the individuals and entities who beneficially owned, directly or indirectly, the Company immediately prior to such HBBHC Business Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then Outstanding Voting Securities of the entity resulting from such HBBHC Business Combination (including, without limitation, an entity that as a result of such transaction owns the Company or all or substantially all of the assets of the Company, either directly or through one or more subsidiaries); and

(2) at the time of the execution of the initial agreement, or of the action of the Board of Directors of the Company, providing for such HBBHC Business Combination, at least a majority of the members of the Board of Directors of the Company were Incumbent Directors.

(ii)Additional Definitions.  For purposes of this Section, the following terms apply:
(A)“Incumbent Directors” means the individuals who, as of September 29, 2017, are members of the Board of Directors of the Company and any individual becoming a member of the Board of Directors of the Company subsequent to such date whose election, nomination for election by the Company’s stockholders, or appointment, was approved by a vote of at least a majority of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination); provided, however, that an individual shall not be an Incumbent Director if such individual’s election or appointment to the Board of Directors of the Company occurs as a result of an actual or threatened election contest (as described in Rule 14a‐12(c) of the Exchange Act) with respect to the election or removal 

of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors of the Company.
(B)“Permitted Holders” shall mean, collectively, (i) the parties to the Stockholders’ Agreement dated September 29, 2017, as amended from time to time, by and among the Participating Stockholders (as defined therein), the Company and other signatories thereto; provided, however, that for purposes of this definition only, the definition of Participating Stockholders contained in the Stockholders’ Agreement shall be such definition in effect as of the date of the Change in Control, (ii) any direct or indirect subsidiary of the Company, and (iii) any employee benefit plan (or related trust) sponsored or maintained by the Company or any direct or indirect subsidiary of the Company.   
		
	8.
	Award Shares Terms and Restrictions

(a)Award Shares issued or transferred to a Participant shall entitle such Participant to voting, dividend and other ownership rights. Each payment of Award Shares shall be evidenced by an agreement between the Company and the Participant. Each such agreement shall contain such terms and provisions, consistent with this Plan, as the Committee may approve, including, without limitation, prohibitions and restrictions regarding the transferability of Award Shares. 

(b)Except as otherwise set forth in this Section 8, Award Shares shall not be sold, assigned, transferred, exchanged, pledged, hypothecated or encumbered (collectively, a "Transfer") by a Participant or any other person, voluntarily or involuntarily, other than a Transfer of Award Shares (i) by will or the laws of descent and distribution, (ii) pursuant to a domestic relations order that would meet the definition of a qualified domestic relations order under Section 206(d)(3)(B) of the Employee Retirement Income Security Act of 1974, as amended, if such provisions applied to the Plan, or a similar binding judicial order, (iii) directly or indirectly to a trust or partnership for the benefit of a Participant or his spouse, children or grandchildren (provided that Award Shares transferred to such trust or partnership shall continue to be Award Shares subject to the terms of this Plan), or (iv) with the consent of the Committee, after the substitution by a Participant of a number of shares of Class A or Class B Common Stock par value $0.01 per share (the "New Shares") for an equal number of Award Shares, whereupon the New Shares shall become and be deemed for all purposes to be Award Shares, subject to all of the terms and conditions imposed by this Plan and the Guidelines on the shares for which they are substituted, including the restrictions on Transfer, and the restrictions hereby imposed on the shares for which the New Shares are substituted shall lapse and such shares shall no longer be subject to this Plan or the Guidelines. The Company shall not honor, and shall instruct the Company’s transfer agent not to honor, any attempted Transfer and any attempted Transfer shall be invalid, other than Transfers described in clauses (i) through (iv) above.  In no event will any Award Shares granted under this Plan be transferred for value.

(c)Each Award shall provide that a Transfer of the Award Shares shall be prohibited or restricted for a period of three, five or ten years from the last day of the Performance Period.  The length of the restricted period shall be determined by the Committee in its sole and absolute discretion.   Further, the Committee may provide for any other shorter or longer restricted period as may be determined by the Committee (in its sole and absolute discretion) from time to time.  Notwithstanding the foregoing, such restrictions shall automatically lapse on the earliest of (i) the date the Participant dies or becomes permanently Disabled; (ii) three years (or earlier with the approval of the Committee) after the Participant Retires; (iii) an extraordinary release of restrictions pursuant to Subsection (d) below; or (iv) a release of restrictions as determined by the Committee in its sole discretion and absolute (including, without limitation, a release caused by a termination of this Plan). Following the lapse of restrictions pursuant to this Subsection or Subsection (d) below, the shares shall no longer be “Award Shares” and, at the Participant's request, the Company shall take all such action as may be necessary to remove such restrictions from the stock certificates, or other applicable records with respect to uncertificated shares, representing the Award Shares, such that the resulting shares shall be fully paid, nonassessable, and unrestricted by the terms of this Plan.

		
	(d)
	Extraordinary Release of Restrictions.  

(i)A Participant may request in writing that a Committee member authorize the lapse of restrictions on a Transfer of such Award Shares if the Participant desires to dispose of such Award Shares 

for (A) the purchase of a principal residence for the Participant, (B) payment of medical expenses for the Participant, his spouse or his dependents, (C) payment of educational expenses for the Participant, his spouse or his dependents, or (D) any other extraordinary reason the Committee previously approved in writing. The Committee shall have the sole power to grant or deny any such request. Upon the granting of any such request, the Company shall cause the release of restrictions in the manner described in Subsection (c) of such number of Award Shares as the Committee shall authorize.

(ii)A Participant who is employed by the Employers may request such a release at any time following the third anniversary of the date the Award Shares were issued or transferred; provided that the restrictions on no more than 20% of such Award Shares may be released pursuant to this Subsection (d) for such a Participant. A Participant who is no longer employed by the Employers may request such a release at any time following the second anniversary of the date the Award Shares were issued or transferred; provided that the restrictions on no more than 35% of such Award Shares may be released pursuant to this Subsection (d) for such a Participant.

(e)Legend.  The Company shall cause an appropriate legend reflecting the restrictions to be placed on each Award Shares certificate or, for uncertificated shares, another applicable record.

		
	9.
	Amendment, Termination, and Adjustments

(a)The Committee, subject to approval by the Board of Directors, may alter or amend this Plan from time to time or terminate it in its entirety; provided that, except as set forth in Section 6, no such action shall adversely affect the rights, without the Participant’s consent, in (i) an outstanding Award that was previously approved by the Committee for a Performance Period but has not yet been paid or (ii) any Award Shares that were previously issued or transferred under this Plan.  In any event, no Award Shares will be issued or transferred under this Plan on or after the tenth anniversary of the Plan’s original effective date, September 29, 2017.  Unless otherwise specified by the Committee, all Award Shares that were issued or transferred prior to the termination of this Plan shall continue to be subject to the terms of this Plan following such termination; provided that the transfer restrictions on such Award Shares shall lapse as otherwise provided in Section 8.

(b)The Committee shall make or provide for such adjustment (A) in the total number of Award Shares that may be issued or transferred under this Plan as specified in Section 10, (B) in outstanding Award Shares, (C) in the definition of Average Award Share Price, and (D) in other Award terms, as the Committee in its sole discretion, exercised in good faith, may determine is equitably required to reflect: (i) any stock dividend, stock split, combination of shares, recapitalization or any other change in the capital structure of the Company; (ii) any merger, consolidation, spin-off, split-off, spin-out, split-up, reorganization, partial or complete liquidation or other distribution of assets, or issuance of rights or warrants to purchase securities; or (iii) any other corporate transaction or event having an effect similar to any of the foregoing (collectively, the “Extraordinary Events”). Moreover, in the event of any such Extraordinary Event or a Change in Control, the Committee may provide in substitution for any or all outstanding Awards or Award Shares such alternative consideration (including, cash), if any, as it, in good faith, may determine to be equitable in the circumstances and shall require in connection therewith the surrender of all Awards or Award Shares so replaced in a manner that complies with or is exempt from Section 409A of the Code and applicable Treasury Regulations issued thereunder. Any securities that are distributed in respect of Award Shares in connection with any of the Extraordinary Events shall be deemed to be Award Shares and shall be subject to the transfer restrictions set forth herein to the same extent and for the same period as if such securities were the original Award Shares with respect to which they were issued, unless such restrictions are waived or otherwise altered by the Committee.  

(c)Notwithstanding the provisions of Subsection (a), without further approval by the stockholders of the Company, no amendment to this Plan shall (i) materially increase the maximum number of Award Shares to be issued or transferred under this Plan specified in Section 10 (except that adjustments expressly authorized by Subsection (b) shall not be limited by this clause (i)); (ii) cause Rule 16b-3 to become inapplicable to any 

Award; or (iii) make any other change for which stockholder approval would be required under applicable law or stock exchange requirements.

		
	10.
	Award Shares Subject to Plan

(a)Subject to adjustment as provided in this Plan, the total number of shares of Class A Common Stock that may be issued or transferred as Award Shares under this Plan, on or after March 1, 2020, shall be 310,200.  No new shares have been requested in connection with this Plan restatement.
(b)Notwithstanding anything to the contrary contained in this Plan, shares of Class A Common Stock withheld by the Company, tendered or otherwise used to satisfy tax withholding will count against the aggregate number of shares of Class A Common Stock available under this Section 10.

		
	11.
	Approval by Stockholders

This amended and restated Plan will be submitted for approval by the stockholders of the Company.  If such approval has not been obtained by July 1, 2020, all grants of Target Awards made on or after March 1, 2020 for Performance Periods beginning on or after January 1, 2020 will be rescinded.

		
	12.
	General Provisions

(a)No Right of Employment.  Neither the adoption or operation of this Plan, nor any document describing or referring to this Plan, or any part thereof, shall confer upon any employee any right to continue in the employ of the Employers, or shall in any way affect the right and power of the Employers to terminate the employment of any employee at any time with or without assigning a reason therefor to the same extent as the Employers might have done if this Plan had not been adopted.

(b)Governing Law.  The provisions of this Plan shall be governed by and construed in accordance with the laws of the State of Delaware.

(c)Sections and Gender References.  Headings are given to the sections of this Plan solely as a convenience to facilitate reference. Such headings, numbering and paragraphing shall not in any case be deemed in any way material or relevant to the construction of this Plan or any provisions thereof. The use of the masculine gender shall also include within its meaning the feminine. The use of the singular shall also include within its meaning the plural, and vice versa.

(d)Limitation on Rights of Employees; No Trust.  No trust has been created for the payment of Awards under this Plan, nor have the employees been granted any lien on any assets of the Employers to secure payment of such benefits. This Plan represents only an unfunded, unsecured promise to pay by the Company and a participant hereunder is a mere unsecured creditor of the Company.

(e)Non-transferability of Awards.  Target Awards shall not be transferable by a Participant. Award Shares shall be transferable, subject to the restrictions described in Section 8.

(f)Section 409A of the Internal Revenue Code.  This Plan is intended to be exempt from the requirements of Section 409A of the Code and applicable Treasury Regulations issued thereunder, and shall be administered in a manner consistent with such intent. Notwithstanding any provision of this Plan and Awards hereunder to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to this Plan and Awards hereunder as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code without the consent of any Participant. In any case, a Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant or for a Participant’s account in connection with this Plan and grants hereunder (including any taxes and penalties under Section 409A of 

the Code), and neither the Company nor any of its affiliates will have an obligation to indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties.

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