Document:

Sipex Corporation 2000 Non-Qualified Stock Option Plan

 Exhibit 4.3 
 SIPEX CORPORATION 
 2000 NON-QUALIFIED STOCK OPTION PLAN 
 1. PURPOSE. This 2000 Non-Qualified Stock Option Plan (the “Plan”) is intended to provide incentives to non-officer employees and consultants
of SIPEX Corporation (the “Company”), and of any present or future parent or subsidiary of the Company (“Related Entities”) by providing them with opportunities to purchase stock in the Company pursuant to options
(“Non-Qualified Options” or “Options”) granted hereunder which do not qualify as “incentive stock options” (“ISOs”) under Section 422(b) of the Internal Revenue Code (the “Code”). No Options may
be granted pursuant to this Plan to any officer or director of the Company or any Related Entity. As used herein, the terms “parent” and “subsidiary” mean “parent corporation” and “subsidiary corporation”
respectively as those terms are defined in Section 424 of the Code. For purposes of this Plan, the term “officer” shall be interpreted in accordance with the interpretations of the National Association of Securities Dealers, Inc.
(“NASD”) under the NASD Marketplace Rules. 
 2. ADMINISTRATION OF THE PLAN. 
 A. BOARD OR COMMITTEE ADMINISTRATION. The Plan shall be administered by the Board of Directors of the Company (the “Board”) or,
subject to paragraph 2(C) (relating to compliance with Section 162(m) of the Code), by a committee appointed by the Board (the “Committee”). Hereinafter, all references in this Plan to the “Committee” shall mean the Board if
no Committee has been appointed. Subject to ratification of the grant or authorization of each Option by the Board, and subject to the terms of the Plan, the Committee shall have the authority to (i) determine to whom, from among the class of
individuals and entities eligible under paragraph 3 to receive Options, Options may be granted; (ii) determine the time or times at which Options shall be granted; (iii) determine the option price of shares subject to each Option, which
price shall not be less than the minimum price specified in paragraph 6; (iv) determine (subject to paragraph 7) the time or times when each Option shall become exercisable and the duration of the exercise period; (v) determine whether
restrictions such as repurchase options are to be imposed on shares subject to Options and the nature of such restrictions, if any, and (vi) interpret the Plan and prescribe and rescind rules and regulations relating to it. The Committee shall
take whatever actions it deems necessary, under Section 422 of the Code and the regulations promulgated thereunder, to ensure that no Option issued hereunder is treated as an ISO. The interpretation and construction by the Committee of any
provisions of the Plan or of any Option granted under it shall be final unless otherwise determined by the Board. The Committee may from time to time adopt such rules and regulations for carrying out the Plan as it may deem advisable. No member of
the Board or the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Option granted under it. 

 B. COMMITTEE ACTIONS. The Committee may select one of its members as its chairman, and
shall hold meetings at such time and places as it may determine. A majority of the Committee shall constitute a quorum and acts by a majority of the members of the Committee, or acts reduced to or approved in writing by a majority of the members of
the Committee (if consistent with applicable state law), shall constitute the valid acts of the Committee. From time to time the Board may increase the size of the Committee and appoint additional members thereof, remove members (with or without
cause) and appoint new members in substitution therefor, fill vacancies however caused, or remove all members of the Committee and thereafter directly administer the Plan. 
 C. PERFORMANCE-BASED COMPENSATION. The Board, in its discretion, may take such action as may be necessary to ensure that Options granted
under the Plan qualify as “qualified performance-based compensation” within the meaning of Section 162(m) of the Code and applicable regulations promulgated thereunder (“Performance-Based Compensation”). Such action may
include, in the Board’s discretion, some or all of the following (i) if the Board determines that Options granted under the Plan generally shall constitute Performance-Based Compensation, the Plan shall be administered, to the extent
required for such Options to constitute Performance-Based Compensation, by a Committee consisting solely of two or more “outside directors” (as defined in applicable regulations promulgated under Section 162(m) of the Code),
(ii) if any Non-Qualified Options with an exercise price less than the fair market value per share of Common Stock are granted under the Plan and the Board determines that such Options should constitute Performance-Based Compensation, such
options shall be made exercisable only upon the attainment of a pre-established, objective performance goal established by the Committee, and such grant shall be submitted for, and shall be contingent upon shareholder approval and (iii) Options
granted under the Plan may be subject to such other terms and conditions as are necessary for compensation recognized in connection with the exercise or disposition of such Option or the disposition of Common Stock acquired pursuant to such Option,
to constitute Performance-Based Compensation. 
 3. ELIGIBLE EMPLOYEES AND OTHERS. Non-Qualified Options may be granted to any non-officer
employee or consultant of the Company or any Related Entity. The Committee may take into consideration a recipient’s individual circumstances in determining whether to grant an Option. The granting of any Option to any individual or entity
shall neither entitle such grantee to, nor disqualify such grantee from, participation in any other grant of Options. 
 4. STOCK. The stock
subject to Options shall be authorized but unissued shares of common stock of the Company, par value $.01 per share (the “Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of shares
which may be issued pursuant to the Plan is 1,000,000, subject to adjustment as provided in paragraph 13. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for any
reason to be exercisable in whole or in part or shall be repurchased by the Company, the shares of Common Stock subject to such Option shall again be available for grants of Options under the Plan. 
  

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 No employee or consultant of the Company or any Related Entity may be granted Options to acquire, in the
aggregate, more than 700,000 shares of Common Stock under the Plan, subject to adjustment as provided in Paragraph 13. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease
for any reason to be exercisable in whole or in part or shall be repurchased by the Company, the shares of Common Stock subject to such Option shall be included in the determination of the aggregate number of shares of Common Stock deemed to have
been granted to such employee or consultant under the Plan. 
 5. GRANTING OF OPTIONS. Options may be granted under the Plan at any time on
or after October 31, 2000 and prior to October 31, 2010. The date of grant of an Option under the Plan will be the date specified by the Committee at the time it grants the Option; provided, however, that such date shall not be prior to
the date on which the Committee acts to approve the grant. 
 6. MINIMUM OPTION PRICE. 
 Subject to paragraph 2(C) (relating to compliance with Section 162(m) of the Code), the exercise price per share specified in the agreement relating
to each Non-Qualified Option granted under the Plan (the “Agreement”), may not be less than the fair market value of the Common Stock on the date of grant, but shall in no event be less than the minimum legal consideration required
therefor under the laws of any jurisdiction in which the Company or its successors in interest may be organized. 
 7. OPTION DURATION.
Subject to earlier termination as provided in other provisions of this Plan or as specified in the Agreement relating to such Option, each Option shall expire on the date specified by the Committee, but not more than ten years from the date of
grant. 
 8. EXERCISE OF OPTION. Subject to the other provisions of this Plan, each Option granted under the Plan shall be exercisable as
follows: 
 A. VESTING. The Option shall either be fully exercisable on the date of grant or shall become exercisable
thereafter in such installments as the Committee may specify. 
 B. FULL VESTING OF INSTALLMENTS. Once an installment becomes
exercisable it shall remain exercisable until expiration or termination of the Option, unless otherwise specified by the Committee. 
 C. PARTIAL EXERCISE. Each Option or installment may be exercised at any time or from time to time, in whole or in part, for up to the total number of shares with respect to which it is then exercisable. 
 D. ACCELERATION OF VESTING. The Committee shall have the right to accelerate the date that any installment of any Option becomes
exercisable despite the fact that the foregoing action may cause the application of Sections 280G and 4999 of the Code if a change in control of the Company occurs. 
  

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 9. TERMINATION OF BUSINESS RELATIONSHIP. Each Option may provide that it shall terminate before its
stated expiration date, upon terms specified by the Committee, if the optionee ceases to be an employee or consultant of the Company, or of any Related Entity (any such relationship hereinafter referred to as a “Business Relationship with the
Company”). Nothing in the Plan or any Option granted hereunder shall be deemed to give any optionee the right to continue his or her Business Relationship with the Company for any period of time. For purposes of this paragraph 9, a Business
Relationship shall be considered as continuing uninterrupted during any bona fide leave of absence (such as those attributable to illness, military obligations or governmental service) provided that the period of such leave does not exceed 90 days
or, if longer, any period during which such optionee’s right to reemployment is guaranteed by statute or by contract. A bona fide leave of absence with the written approval of the Committee shall not be considered an interruption of a Business
Relationship under this paragraph 9, provided that such written approval contractually obligates the Company or any Related Entity to continue the Business Relationship of the optionee after the approved period of absence. In the event of such an
approved leave of absence, vesting shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise agreed upon. 
 10. DEATH; DISABILITY. 
 A. DEATH. Unless otherwise specified by the Committee, if an
optionee’s Business Relationship with the Company terminates by reason of death, his or her Option may be exercised, to the extent of the number of shares with respect to which such optionee could have exercised it on the date of such
optionee’s death, by such optionee’s estate, personal representative or beneficiary who has acquired the Option by will or by the laws of descent and distribution, at any time prior to the earlier of the specified expiration date of the
Option or 180 days from the date of death. 
 B. DISABILITY. Unless otherwise specified by the Committee, if an
optionee’s Business Relationship with the Company terminates by reason of such optionee’s disability, such optionee shall have the right to exercise his or her Option, to the extent of the number of shares with respect to which such
optionee could otherwise have exercised it on the date his or her Business Relationship with the Company terminated, at any time prior to the earlier of the specified expiration date of the Option or 180 days from the date of the termination of the
optionee’s Business Relationship with the Company. For the purposes of the Plan, the term “disability” shall mean “permanent and total disability” as defined in Section 22(e)(3) of the Code or any successor statute.

 11. ASSIGNABILITY. Options shall be assignable or transferable only to the extent provided in the agreement relating to such option.

 12. TERMS AND CONDITIONS OF OPTIONS. Options shall be evidenced by instruments (which need not be identical) in such forms as the
Committee may from time to time approve. Such instruments shall conform to the terms and conditions set forth in paragraphs 6 through 11 hereof and may contain such other provisions as the Committee deems advisable which are not inconsistent with
the Plan, including restrictions applicable to shares of Common Stock issuable 

  

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upon exercise of Options. The Committee may specify that any Option shall be subject to the restrictions set forth herein or, consistent with paragraph 7, to
such other or additional termination and cancellation provisions as the Committee may determine. The Committee may from time to time confer authority and responsibility on one or more of its own members and/or one or more officers of the Company to
execute and deliver such instruments. The proper officers of the Company are authorized and directed to take any and all action necessary or advisable from time to time to carry out the terms of such instruments. 
 13. ADJUSTMENTS. Upon the occurrence of any of the following events, an optionee’s rights with respect to Options granted to such optionee hereunder
shall be adjusted as hereinafter provided, unless otherwise specifically provided in the written agreement between the optionee and the Company relating to such Option: 
 A. STOCK DIVIDENDS AND STOCK SPLITS. If the shares of Common Stock shall be subdivided or combined into a greater or smaller number of
shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, the number of shares of Common Stock deliverable upon the exercise of Options shall be appropriately increased or decreased
proportionately, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, combination or stock dividend. 
 B. CONSOLIDATIONS OR MERGERS. If the Company is to be consolidated with or acquired by another entity in a merger or other reorganization in which the holders of the outstanding voting stock of the Company immediately
preceding the consummation of such event, shall, immediately following such event, hold, as a group, less than a majority of the voting securities of the surviving or successor entity, or in the event of a sale of all or substantially all of the
Company’s assets or otherwise (other than a spin-off or similar transaction), or in the event of any other acquisition of the business of the Company, or determined by the Board (each, an “Acquisition”), the Committee or the board of
directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make appropriate provision for the continuation of such Options by substituting on an
equitable basis for the shares then subject to such Options either (a) the consideration payable with respect to the outstanding shares of Common Stock in connection with the Acquisition, (b) shares of stock of the surviving or successor
corporation or (c) such other securities as the Successor Board deems appropriate, the fair market value of which shall not materially exceed the fair market value of the shares of Common Stock subject to such Options immediately preceding the
Acquisition; or (ii) upon written notice to the optionees, provide that all Options must be exercised, to the extent then exercisable or to be exercisable as a result of the Acquisition, within a specified number of days of the date of such
notice, at the end of which period the Options shall terminate; or (iii) terminate all Options in exchange for a cash payment equal to the excess of the fair market value of the shares subject to such Options (to the extent then exercisable or
to be exercisable as a result of the Acquisition) over the exercise price thereof. 
  

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 C. RECAPITALIZATION OR REORGANIZATION. In the event of a recapitalization or
reorganization of the Company (other than a transaction described in subparagraph B above) pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, an optionee upon
exercising an Option shall be entitled to receive for the purchase price paid upon such exercise the securities such optionee would have received if such optionee had exercised his or her Option prior to such recapitalization or reorganization.

 D. DISSOLUTION OR LIQUIDATION. In the event of the proposed dissolution or liquidation of the Company, then the Committee
shall, as to outstanding Options, at its discretion provide, upon written notice to the optionees, (i) that all Options must be exercised, to the extent then exercisable, within a specified number of days of the date of such notice, at the end
of which period, the Options shall terminate or (ii) that such Options (including those which have not yet vested) shall be exercisable within a specified number of days of such notice, at the end of which period the Options shall terminate.

 E. ISSUANCES OF SECURITIES. Except as expressly provided herein, no issuance by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Options. No adjustments shall be made for dividends paid in
cash or in property other than securities of the Company. 
 F. FRACTIONAL SHARES. No fractional shares shall be issued under
the Plan and the optionee shall receive from the Company cash in lieu of such fractional shares. 
 G. ADJUSTMENTS. Upon the
happening of any of the events described in subparagraphs A, B or C above, the class and aggregate numbers of shares set forth in paragraph 4 hereof that are subject to Options which previously have been or subsequently may be granted under the Plan
shall also be appropriately adjusted to reflect the events described in such subparagraphs. The Committee or the Successor Board shall determine the specific adjustments to be made under this paragraph 13 and, subject to paragraph 2, its
determination shall be conclusive. 
 14. MEANS OF EXERCISING OPTIONS. An Option (or any part or installment thereof) shall be exercised by
giving written notice to the Company at its principal office address, or to such transfer agent as the Company shall designate. Such notice shall identify the Option being exercised and specify the number of shares as to which such Option is being
exercised, accompanied by full payment of the purchase price therefor either (a) in United States dollars in cash or by check, (b) at the discretion of the Committee, through delivery of shares of Common Stock having a fair market value
equal as of the date of the exercise to the cash exercise price of the Option, (c) at the discretion of the Committee, by delivery of the optionee’s personal recourse note bearing interest payable not less than annually at no less than
100% of the lowest applicable Federal rate, as defined in Section 1274(d) of the Code, (d) at the discretion of the Committee and consistent with applicable law, through the delivery of an assignment to the Company of a sufficient amount
of the proceeds from the sale of the Common Stock acquired upon exercise of 

  

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the Option and an authorization to the broker or selling agent to pay that amount to the Company, which sale shall be at the participant’s direction at
the time of exercise, or (e) at the discretion of the Committee, by any combination of (a), (b), (c) and (d) above. The holder of an Option shall not have the rights of a shareholder with respect to the shares covered by such Option
until the date of issuance of a stock certificate to such holder for such shares. Except as expressly provided above in paragraph 13 with respect to changes in capitalization and stock dividends, no adjustment shall be made for dividends or similar
rights for which the record date is before the date such stock certificate is issued. 
 15. TERM AND AMENDMENT OF PLAN. This Plan was
adopted by the Board on October 31, 2000. The Plan shall expire at the end of the day on October 31, 2010 (except as to Options outstanding on that date). The Board may terminate or amend the Plan in any respect at any time. 
 16. REPRICING. Without the prior approval of the Company’s stockholders, Options issued under the Plan will not be repriced, replaced or regranted
through cancellation or by lowering the Option exercise price of a previously granted Option. 
 17. APPLICATION OF FUNDS. The proceeds
received by the Company from the sale of shares pursuant to Options granted under the Plan shall be used for general corporate purposes. 
 18. WITHHOLDING OF ADDITIONAL INCOME TAXES. Each optionee shall pay to the Company, or make provisions satisfactory to the Company for payment of, any taxes required by law to be withheld in connection with Options to such optionee no later
than the date of the event creating the tax liability. The Board may allow optionees to satisfy such tax obligations in whole or in part by transferring shares of Common Stock, including shares retained from the Option creating the tax obligation,
valued at their fair market value (as determined by the Board or as determined pursuant to the applicable Agreement). The Company may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to an
optionee. 
 19. DETERMINATION OF FAIR MARKET VALUE OF COMMON STOCK. Whenever, under the terms of any option agreement or in administering
the Plan, it is necessary or desirable to determine the fair market value of the Company’s Common Stock, the Committee shall make such determination in accordance with this paragraph. “Fair Market Value” shall be determined as of the
last business day for which the prices or quotes discussed in this sentence are available prior to the date such Option is granted and shall mean (i) the average (on that date) of the high and low prices of the Common Stock on the principal
national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market, if
the Common Stock is not then traded on a national securities exchange; or (iii) the closing bid price (or average of bid prices) last quoted (on that date) by an established quotation service for over-the-counter securities, if the Common Stock
is not reported on the Nasdaq National Market. However, if the Common Stock is not publicly traded at the time an Option is granted under the Plan, “fair market value” shall be deemed to be the fair value of the Common Stock as determined
by the Committee after taking into consideration all factors which it deems 

  

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appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private transactions negotiated at arm’s length.

 20. GOVERNMENTAL REGULATION. The Company’s obligation to sell and deliver shares of the Common Stock under this Plan is subject to
the approval of any governmental authority required in connection with the authorization, issuance or sale of such shares. 
 Government
regulations may impose reporting or other obligations on the Company or Related Entities with respect to the Plan. For example, the Company may be required to file tax information returns reporting the income received by optionees in connection with
the Plan. 
 21. GOVERNING LAW. The validity and construction of the Plan and the instruments evidencing Options shall be governed by the
laws of Massachusetts, or the laws of any jurisdiction in which the Company or its successors in interest may be organized. 
  

 -8-Sipex Corporation 1999 Stock Plan

 Exhibit 4.4 
 SIPEX CORPORATION 
 1999 STOCK PLAN 
 1. PURPOSE. The purpose of the SIPEX Corporation 1999 Stock Plan (the “Plan”) is to encourage key employees SIPEX Corporation (the
“Company”) and of any present or future parent or subsidiary of the Company (collectively, “Related Corporations”) and other individuals who render services to the Company or a Related Corporation, by providing opportunities to
participate in the ownership of the Company and its future growth through (a) the grant of options which qualify as “incentive stock options” (“ISOs”) under Section 422(b) of the Internal Revenue Code of 1986, as
amended (the “Code”); (b) the grant of options which do not qualify as ISOs (“Non-Qualified Options”); (c) awards of stock in the Company (“Awards”); and (d) opportunities to make direct purchases of
stock in the Company (“Purchases”). Both ISOs and Non-Qualified Options are referred to hereafter individually as an “Option” and collectively as “Options.” Options, Awards and authorizations to make Purchases are
referred to hereafter collectively as “Stock Rights.” As used herein, the terms “parent” and “subsidiary” mean “parent corporation” and “subsidiary corporation,” respectively, as those terms are
defined in Section 424 of the Code. Except as provided in Section 3 below, no Stock Rights may be granted pursuant to this Plan to any officer or director of the Company or any Related Corporation. For purposes of this Plan, the term
“officer” shall have the meaning as interpreted for purposes of the requirements of Rule 4460(i), or its successor, of the rules of the National Association of Securities Dealers. 
 2. ADMINISTRATION OF THE PLAN. 
 A. BOARD OR COMMITTEE ADMINISTRATION. The Plan shall be administered by the Board of Directors of the Company (the “Board”) or, subject to paragraph 2(D) (relating to compliance with Section 162(m) of the Code), by a
committee appointed by the Board (the “Committee”). Hereinafter, all references in this Plan to the “Committee” shall mean the Board if no Committee has been appointed. Subject to ratification of the grant or authorization of
each Stock Right by the Board (if so required by applicable state law), and subject to the terms of the Plan, the Committee shall have the authority to (i) determine to whom (from among the class of employees eligible under paragraph 3 to
receive ISOs) ISOs shall be granted, and to whom (from among the class of individuals and entities eligible under paragraph 3 to receive Non-Qualified Options and Awards and to make Purchases) Non-Qualified Options, Awards and authorizations to make
Purchases may be granted; (ii) determine the time or times at which Options or Awards shall be granted or Purchases made; (iii) determine the purchase price of shares subject to each Option or Purchase, which prices shall not be less than
the minimum price specified in paragraph 6; (iv) determine whether each Option granted shall be an ISO or a Non-Qualified Option; (v) determine (subject to paragraph 7) the time or times when each Option shall become exercisable and the
duration of the exercise period; (vi) extend the period during which outstanding Options may be exercised; (vii) determine whether restrictions such as repurchase options are to be imposed on shares subject to Options, Awards and Purchases
and the nature of such restrictions, if any, and (viii) interpret the Plan and prescribe and rescind rules and regulations relating to it. If the Committee determines to issue a Non-Qualified Option, it shall take whatever actions it deems
necessary, under Section 422 of the Code and the regulations promulgated thereunder, to ensure that such Option is not treated as an ISO. The interpretation and construction by the Committee of any provisions of the Plan or of any Stock Right
granted under it shall be final unless otherwise determined by the Board. The Committee may from time to time adopt such rules and regulations for carrying out the 

  

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Plan as it may deem advisable. No member of the Board or the Committee shall be liable for any action or determination made in good faith with respect to the
Plan or any Stock Right granted under it. 
 B. COMMITTEE ACTIONS. The Committee may select one of its members as its
chairman, and shall hold meetings at such time and places as it may determine. A majority of the Committee shall constitute a quorum and acts of a majority of the members of the Committee at a meeting at which a quorum is present, or acts reduced to
or approved in writing by all the members of the Committee (if consistent with applicable state law), shall be the valid acts of the Committee. From time to time the Board may increase the size of the Committee and appoint additional members
thereof, remove members (with or without cause) and appoint new members in substitution therefor, fill vacancies however caused, or remove all members of the Committee and thereafter directly administer the Plan. 
 C. PERFORMANCE-BASED COMPENSATION. The Board, in its discretion, may take such action as may be necessary to ensure that Stock Rights
granted under the Plan qualify as “qualified performance-based compensation” within the meaning of Section 162(m) of the Code and applicable regulations promulgated thereunder (“Performance-Based Compensation”). Such action
may include, in the Board’s discretion, some or all of the following (i) if the Board determines that Stock Rights granted under the Plan generally shall constitute Performance-Based Compensation, the Plan shall be administered, to the
extent required for such Stock Rights to constitute Performance-Based Compensation, by a Committee consisting solely of two or more “outside directors” (as defined in applicable regulations promulgated under Section 162(m) of the
Code), (ii) if any Non-Qualified Options with an exercise price less than the fair market value per share of Common Stock are granted under the Plan and the Board determines that such Options should constitute Performance Based Compensation,
such options shall be made exercisable only upon the attainment of a pre-established, objective performance goal established by the Committee, and such grant shall be submitted for, and shall be contingent upon shareholder approval and
(iii) Stock Rights granted under the Plan may be subject to such other terms and conditions as are necessary for compensation recognized in connection with the exercise or disposition of such Stock Right or the disposition of Common Stock
acquired pursuant to such Stock Right, to constitute Performance-Based Compensation. 
 3. ELIGIBLE EMPLOYEES AND OTHERS. ISOs may be granted
only to employees of the Company or any Related Corporation. Non-Qualified Options, Awards and authorizations to make Purchases may be granted to any employee or consultant of the Company or any Related Corporation. The Committee may also take into
consideration a recipient’s individual circumstances in determining whether to grant a Stock Right. The granting of any Stock Right to any individual or entity shall neither entitle that individual or entity to, nor disqualify such individual
or entity from, participation in any other grant of Stock Rights. Notwithstanding anything to the contrary contained in this Section 3, Stock Rights may not be granted to directors or officers of the Company or any Related Corporation unless
the Plan has been approved by the Company’s stockholders within twelve months of the adoption of the Plan by the Board. 
 4. STOCK. The
stock subject to Stock Rights shall be authorized but unissued shares of Common Stock of the Company, par value $.01 per share (the “Common Stock”), or shares of Common Stock reacquired by the Company in any manner. The aggregate number of
shares which may be issued pursuant to the Plan is 1,200,000, subject to adjustment as provided in paragraph 13. If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or shall cease for
any reason to be exercisable in whole or in part or shall be repurchased by the Company, the unpurchased shares of Common Stock subject to such Option shall again be available for grants of Stock Rights under the Plan. 
 No employee of the Company or any Related Corporation may be granted Options to acquire, in the aggregate, more than 840,000 shares of Common Stock under
the Plan during any fiscal year of the Company. 
  

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 If any Option granted under the Plan shall expire or terminate for any reason without having been exercised in full or
shall cease for any reason to be exercisable in whole or in part or shall be repurchased by the Company, the shares subject to such Option shall be included in the determination of the aggregate number of shares of Common Stock deemed to have been
granted to such employee under the Plan. 
 5. GRANTING OF STOCK RIGHTS. Stock Rights may be granted under the Plan at any time on or after
February 17, 1999 and prior to February 16, 2009. The date of grant of a Stock Right under the Plan will be the date specified by the Committee at the time it grants the Stock Right; provided, however, that such date shall not be prior to
the date on which the Committee acts to approve the grant. 
 6. MINIMUM OPTION PRICE; ISO LIMITATIONS. 
 A. PRICE FOR NON-QUALIFIED OPTIONS, AWARDS AND PURCHASES. Subject to paragraph 2(D) (relating to compliance with Section 162(m) of
the Code), the exercise price per share specified in the agreement relating to each Non-Qualified Option granted, and the purchase price per share of stock granted in any Award or authorized as a Purchase, under the Plan may not be less than the
fair market value of the Common Stock of the Company on the date of grant. 
 B. PRICE FOR ISOS. The exercise price per share
specified in the agreement relating to each ISO granted under the Plan shall not be less than the fair market value per share of Common Stock on the date of such grant. In the case of an ISO to be granted to an employee owning stock possessing more
than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Related Corporation, the price per share specified in the agreement relating to such ISO shall not be less than one hundred ten percent
(110%) of the fair market value per share of Common Stock on the date of grant. For purposes of determining stock ownership under this paragraph, the rules of Section 424(d) of the Code shall apply. 
 C. $100,000 ANNUAL LIMITATION ON ISO VESTING. Each eligible employee may be granted Options treated as ISOs only to the extent that, in
the aggregate under this Plan and all incentive stock option plans of the Company and any Related Corporation, ISOs do not become exercisable for the first time by such employee during any calendar year with respect to stock having a fair market
value (determined at the time the ISOs were granted) in excess of $100,000. The Company intends to designate any Options granted in excess of such limitation as Non-Qualified Options, and the Company shall issue separate certificates to the optionee
with respect to Options that are Non-Qualified Options and Options that are ISOs. 
 D. DETERMINATION OF FAIR MARKET VALUE.
If, at the time an Option is granted under the Plan, the Company’s Common Stock is publicly traded, “fair market value” shall be determined as of the date of grant or, if the prices or quotes discussed in this sentence are unavailable
for such date, the last business day for which such prices or quotes are available prior to the date of grant and shall mean (i) the average (on that date) of the high and low prices of the Common Stock on the principal national securities
exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market, if the Common Stock is
not then traded on a national securities exchange; or (iii) the closing bid price (or average of bid prices) last quoted (on that date) by an established quotation service for over-the-counter securities, if the Common Stock is not reported on
the Nasdaq National Market. If the Common Stock is not publicly traded at the time an Option is granted under the Plan, “fair market value” shall mean the fair value of the Common Stock as determined by the Committee after taking into
consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private transactions negotiated at arm’s length. 
  

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 7. OPTION DURATION. Subject to earlier termination as provided in paragraphs 9 and 10 or in the agreement
relating to such Option, each Option shall expire on the date specified by the Committee, but not more than (i) ten years from the date of grant in the case of Options generally and (ii) five years from the date of grant in the case of
ISOs granted to an employee owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Related Corporation, as determined under paragraph 6(B). Subject to earlier
termination as provided in paragraphs 9 and 10, the term of each ISO shall be the term set forth in the original instrument granting such ISO, except with respect to any part of such ISO that is converted into a Non-Qualified Option pursuant to
paragraph 16. 
 8. EXERCISE OF OPTION. Subject to the provisions of paragraphs 9 through 12, each Option granted under the Plan shall be
exercisable as follows: 
 A. VESTING. The Option shall either be fully exercisable on the date of grant or shall become
exercisable thereafter in such installments as the Committee may specify. 
 B. FULL VESTING OF INSTALLMENTS. Once an
installment becomes exercisable, it shall remain exercisable until expiration or termination of the Option, unless otherwise specified by the Committee. 
 C. PARTIAL EXERCISE. Each Option or installment may be exercised at any time or from time to time, in whole or in part, for up to the total number of shares with respect to which it is then exercisable. 
 D. ACCELERATION OF VESTING. The Committee shall have the right to accelerate the date that any installment of any Option becomes
exercisable; provided that the Committee shall not, without the consent of an optionee, accelerate the permitted exercise date of any installment of any Option granted to any employee as an ISO (and not previously converted into a Non-Qualified
Option pursuant to paragraph 16) if such acceleration would violate the annual vesting limitation contained in Section 422(d) of the Code, as described in paragraph 6(C). 
 9. TERMINATION OF EMPLOYMENT. Unless otherwise specified in the agreement relating to such ISO, if an ISO optionee ceases to be employed by the Company
and all Related Corporations other than by reason of death or disability as defined in paragraph 10, no further installments of his or her ISOs shall become exercisable, and his or her ISOs shall terminate on the earlier of (a) three months
after the date of termination of his or her employment, or (b) their specified expiration dates, except to the extent that such ISOs (or unexercised installments thereof) have been converted into Non-Qualified Options pursuant to paragraph 16.
For purposes of this paragraph 9, employment shall be considered as continuing uninterrupted during any bona fide leave of absence (such as those attributable to illness, military obligations or governmental service) provided that the period of such
leave does not exceed 90 days or, if longer, any period during which such optionee’s right to reemployment is guaranteed by statute or by contract. A bona fide leave of absence with the written approval of the Committee shall not be considered
an interruption of employment under this paragraph 9, provided that such written approval contractually obligates the Company or any Related Corporation to continue the employment of the optionee after the approved period of absence. ISOs granted
under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, so long as the optionee continues to be an employee of the Company or any Related Corporation. Nothing in the Plan shall be deemed
to give any grantee of any Stock Right the right to be retained in employment or other service by the Company or any Related Corporation for any period of time. 
 10. DEATH; DISABILITY. 
 A. DEATH. If an ISO optionee ceases to be employed by the Company
and all Related Corporations by reason of his or her death, any ISO owned by such optionee may be exercised, to the extent otherwise exercisable on the date of death, by the estate, personal representative or beneficiary who 

  

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has acquired the ISO by will or by the laws of descent and distribution, until the earlier of (i) the specified expiration date of the ISO or
(ii) 180 days from the date of the optionee’s death. 
 B. DISABILITY. If an ISO optionee ceases to be employed by
the Company and all Related Corporations by reason of his or her disability, such optionee shall have the right to exercise any ISO held by him or her on the date of termination of employment, for the number of shares for which he or she could have
exercised it on that date, until the earlier of (i) the specified expiration date of the ISO or (ii) 180 days from the date of the termination of the optionee’s employment. For the purposes of the Plan, the term “disability”
shall mean “permanent and total disability” as defined in Section 22(e)(3) of the Code or any successor statute. 
 11.
ASSIGNABILITY. No ISO shall be assignable or transferable by the optionee except by will or by the laws of descent and distribution, and during the lifetime of the optionee shall be exercisable only by such optionee. Stock Rights other than ISOs
shall be transferable to the extent set forth in the agreement relating to such Stock Right. 
 12. TERMS AND CONDITIONS OF OPTIONS. Options
shall be evidenced by instruments (which need not be identical) in such forms as the Committee may from time to time approve. Such instruments shall conform to the terms and conditions set forth in paragraphs 6 through 11 hereof and may contain such
other provisions as the Committee deems advisable which are not inconsistent with the Plan, including restrictions applicable to shares of Common Stock issuable upon exercise of Options. The Committee may specify that any Non- Qualified Option shall
be subject to the restrictions set forth herein with respect to ISOs, or to such other termination and cancellation provisions as the Committee may determine. The Committee may from time to time confer authority and responsibility on one or more of
its own members and/or one or more officers of the Company to execute and deliver such instruments. The proper officers of the Company are authorized and directed to take any and all action necessary or advisable from time to time to carry out the
terms of such instruments. 
 13. ADJUSTMENTS. Upon the occurrence of any of the following events, an optionee’s rights with respect to
Options granted to such optionee hereunder shall be adjusted as hereinafter provided, unless otherwise specifically provided in the written agreement between the optionee and the Company relating to such Option: 
 A. STOCK DIVIDENDS AND STOCK SPLITS. If the shares of Common Stock shall be subdivided or combined into a greater or smaller number of
shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, the number of shares of Common Stock deliverable upon the exercise of Options shall be appropriately increased or decreased
proportionately, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, combination or stock dividend. 
 B. CONSOLIDATIONS OR MERGERS. If the Company is to be consolidated with or acquired by another entity in a merger or other reorganization in which the holders of the outstanding voting stock of the Company immediately
preceding the consummation of such event, shall, immediately following such event, hold, as a group, less than a majority of the voting securities of the surviving or successor entity, or in the event of a sale of all or substantially all of the
Company’s assets or otherwise (each, an “Acquisition”), the Committee or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options,
either (i) make appropriate provision for the continuation of such Options by substituting on an equitable basis for the shares then subject to such Options either (a) the consideration payable with respect to the outstanding shares of
Common Stock in connection with the Acquisition, (b) shares of stock of the surviving or successor corporation or (c) such other securities as the Successor Board deems appropriate, the fair market value of which shall not materially
exceed the fair market value of the shares of Common Stock 

  

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subject to such Options immediately preceding the Acquisition; or (ii) upon written notice to the optionees, provide that all Options must be exercised,
to the extent then exercisable or to be exercisable as a result of the Acquisition, within a specified number of days of the date of such notice, at the end of which period the Options shall terminate; or (iii) terminate all Options in exchange
for a cash payment equal to the excess of the fair market value of the shares subject to such Options (to the extent then exercisable or to be exercisable as a result of the Acquisition) over the exercise price thereof. 
 C. RECAPITALIZATION OR REORGANIZATION. In the event of a recapitalization or reorganization of the Company (other than a transaction
described in subparagraph B above) pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, an optionee upon exercising an Option shall be entitled to receive for the
purchase price paid upon such exercise the securities he or she would have received if he or she had exercised such Option prior to such recapitalization or reorganization. 
 D. MODIFICATION OF ISOS. Notwithstanding the foregoing, any adjustments made pursuant to subparagraphs A, B or C with respect to ISOs
shall be made only after the Committee, after consulting with counsel for the Company, determines whether such adjustments would constitute a “modification” of such ISOs (as that term is defined in Section 424 of the Code) or would
cause any adverse tax consequences for the holders of such ISOs. If the Committee determines that such adjustments made with respect to ISOs would constitute a modification of such ISOs or would cause adverse tax consequences to the holders, it may
refrain from making such adjustments. 
 E. DISSOLUTION OR LIQUIDATION. In the event of the proposed dissolution or
liquidation of the Company, then the Committee shall, as to outstanding Options, at its discretion provide, upon written notice to the optionees, (i) that all Options must be exercised, to the extent then exercisable, within a specified number
of days of the date of such notice, at the end of which period, the Options shall terminate or (ii) that such Options (including those which have not yet vested) shall be exercisable within a specified number of days of such notice, at the end
of which period the Options shall terminate. 
 F. ISSUANCES OF SECURITIES. Except as expressly provided herein, no issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares subject to Options. No
adjustments shall be made for dividends paid in cash or in property other than securities of the Company. 
 G. FRACTIONAL
SHARES. No fractional shares shall be issued under the Plan and the optionee shall receive from the Company cash in lieu of such fractional shares. 
 H. ADJUSTMENTS. Upon the happening of any of the events described in subparagraphs A, B or C above, the class and aggregate number of shares set forth in paragraph 4 hereof that are subject to Stock Rights which
previously have been or subsequently may be granted under the Plan shall also be appropriately adjusted to reflect the events described in such subparagraphs. The Committee or the Successor Board shall determine the specific adjustments to be made
under this paragraph 13 and, subject to paragraph 2, its determination shall be conclusive. 
 14. MEANS OF EXERCISING OPTIONS. An Option (or
any part or installment thereof) shall be exercised by giving written notice to the Company at its principal office address, or to such transfer agent as the Company shall designate. Such notice shall identify the Option being exercised and specify
the number of shares as to which such Option is being exercised, accompanied by full payment of the purchase price therefor either (a) in United States dollars in cash or by check, (b) at the discretion of the Committee, through delivery
of shares of Common Stock having a fair market value equal as of the date of the exercise to the cash 

  

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exercise price of the Option, (c) at the discretion of the Committee, by delivery of the grantee’s personal recourse note bearing interest payable
not less than annually at no less than 100% of the lowest applicable Federal rate, as defined in Section 1274(d) of the Code, (d) at the discretion of the Committee and consistent with applicable law, through the delivery of an assignment
to the Company of a sufficient amount of the proceeds from the sale of the Common Stock acquired upon exercise of the Option and an authorization to the broker or selling agent to pay that amount to the Company, which sale shall be at the
participant’s direction at the time of exercise, or (e) at the discretion of the Committee, by any combination of (a), (b), (c) and (d) above. If the Committee exercises its discretion to permit payment of the exercise price of
an ISO by means of the methods set forth in clauses (b), (c), (d) or (e) of the preceding sentence, such discretion shall be exercised in writing at the time of the grant of the ISO in question. The holder of an Option shall not have the
rights of a shareholder with respect to the shares covered by such Option until the date of issuance of a stock certificate to such holder for such shares. Except as expressly provided above in paragraph 13 with respect to changes in capitalization
and stock dividends, no adjustment shall be made for dividends or similar rights for which the record date is before the date such stock certificate is issued. 
 15. TERM AND AMENDMENT OF PLAN. This Plan was adopted by the Board on February 17, 1999, subject, with respect to the validation of ISOs granted under the Plan, to approval of the Plan by the stockholders of the
Company at the next Meeting of Stockholders (the “Stockholder Approval”). If Stockholder Approval is not obtained prior to February 17, 2000, ISOs granted under the Plan prior to such date shall be treated as Non-Qualified Options.
The Plan shall expire at the end of the day on February 16, 2009 (except as to Options outstanding on that date). Subject to the provisions of paragraph 5 above, Options may be granted under the Plan prior to the date of Stockholder Approval.
The Board may terminate or amend the Plan in any respect at any time, except that, if Stockholder Approval has been obtained, then the Board must obtain the approval of the stockholders within 12 months before or after the Board adopts a resolution
authorizing any of the following actions: (a) the total number of shares that may be issued under the Plan may not be increased (except by adjustment pursuant to paragraph 13); (b) the provisions of paragraph 3 regarding eligibility for
grants of ISOs may not be modified; (c) the provisions of paragraph 6(B) regarding the exercise price at which shares may be offered pursuant to ISOs may not be modified (except by adjustment pursuant to paragraph 13); and (d) the
expiration date of the Plan may not be extended. Except as otherwise provided in this paragraph 15, in no event may action of the Board or stockholders alter or impair the rights of a grantee, without such grantee’s consent, under any Stock
Right previously granted to such grantee. 
 16. MODIFICATIONS OF ISOS; CONVERSION OF ISOS INTO NON-QUALIFIED OPTIONS. Subject to paragraph
13(D), without the prior written consent of the holder of an ISO, the Committee shall not alter the terms of such ISO (including the means of exercising such ISO) if such alteration would constitute a modification (within the meaning of
Section 424(h)(3) of the Code). The Committee, at the written request or with the written consent of any optionee, may in its discretion take such actions as may be necessary to convert such optionee’s ISOs (or any installments or portions
of installments thereof) that have not been exercised on the date of conversion into Non-Qualified Options at any time prior to the expiration of such ISOs, regardless of whether the optionee is an employee of the Company or a Related Corporation at
the time of such conversion. Such actions may include, but shall not be limited to, extending the exercise period or reducing the exercise price of the appropriate installments of such ISOs. At the time of such conversion, the Committee (with the
consent of the optionee) may impose such conditions on the exercise of the resulting Non-Qualified Options as the Committee in its discretion may determine, provided that such conditions shall not be inconsistent with this Plan. Nothing in the Plan
shall be deemed to give any optionee the right to have such optionee’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until and unless the Committee takes appropriate action. Upon the taking of such action, the
Company shall issue separate certificates to the optionee with respect to Options that are Non-Qualified Options and Options that are ISOs. 
  

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 17. REPRICING. Without the prior approval of the Company’s stockholders obtained in the manner
stated in Section 15, Options issued under the Plan will not be repriced, replaced or regranted through cancellation or by lowering the Option exercise price of a previously granted Option. 
 18. APPLICATION OF FUNDS. The proceeds received by the Company from the sale of shares pursuant to Options granted and Purchases authorized under the
Plan shall be used for general corporate purposes. 
 19. NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. By accepting an ISO granted under
the Plan, each optionee agrees to notify the Company in writing immediately after such optionee makes a Disqualifying Disposition (as described in Sections 421, 422 and 424 of the Code and regulations thereunder) of any stock acquired pursuant to
the exercise of ISOs granted under the Plan. A Disqualifying Disposition is generally any disposition occurring on or before the later of (a) the date two years following the date the ISO was granted or (b) the date one year following the
date the ISO was exercised. 
 20. WITHHOLDING OF ADDITIONAL INCOME TAXES. Upon the exercise of a Non-Qualified Option, the transfer of a
Non-Qualified Stock Option pursuant to an arm’s length transaction, the grant of an Award, the making of a Purchase of Common Stock for less than its fair market value, the making of a Disqualifying Disposition (as defined in paragraph 18), the
vesting or transfer of restricted stock or securities acquired on the exercise of an Option hereunder, or the making of a distribution or other payment with respect to such stock or securities, the Company may withhold taxes in respect of amounts
that constitute compensation includible in gross income. The Committee in its discretion may condition (i) the exercise of an Option, (ii) the transfer of a Non-Qualified Stock Option, (iii) the grant of an Award, (iv) the making
of a Purchase of Common Stock for less than its fair market value, or (v) the vesting or transferability of restricted stock or securities acquired by exercising an Option, on the grantee’s making satisfactory arrangement for such
withholding. Such arrangement may include payment by the grantee in cash or by check of the amount of the withholding taxes or, at the discretion of the Committee, by the grantee’s delivery of previously held shares of Common Stock or the
withholding from the shares of Common Stock otherwise deliverable upon exercise of a Option shares having an aggregate fair market value equal to the amount of such withholding taxes. 
 21. GOVERNMENTAL REGULATION. The Company’s obligation to sell and deliver shares of the Common Stock under this Plan is subject to the approval of
any governmental authority required in connection with the authorization, issuance or sale of such shares. 
 Government regulations may
impose reporting or other obligations on the Company with respect to the Plan. For example, the Company may be required to send tax information statements to employees and former employees that exercise ISOs under the Plan, and the Company may be
required to file tax information returns reporting the income received by grantees of Options in connection with the Plan. 
 22. GOVERNING
LAW. The validity and construction of the Plan and the instruments evidencing Stock Rights shall be governed by the laws of the Commonwealth of Massachusetts, or the laws of any jurisdiction in which the Company or its successors in interest may be
organized. 
  

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