Document:

Form of 2007 Long Term Plan Stock Unit Agreement

 Exhibit 10(a) 
 2007 LONG TERM PLAN 
 STOCK UNIT AGREEMENT 
 Dated: January 30, 2007 
 This Letter
Agreement (the “Agreement”) will confirm an award to you of stock units (“Stock Units”), as of the date hereof, by Union Pacific Corporation (the “Company”), under the 2004 Stock Incentive Plan of the Company (the
“Plan”), a copy of which is included in this database and made a part hereof. 
 STOCK UNITS 
 1. GRANT OF UNITS. The Company hereby awards to you the number of Stock Units, as shown on Exhibit A of this Agreement, each evidencing the
right to receive, upon the terms and subject to the conditions set forth in this Agreement and the Plan, (i) one share of Union Pacific Corporation Common Stock, $2.50 par value per share (“Common Stock”) and (ii) a payment in
cash equal to the amount of dividends that would have been payable on one share of Common Stock (“Dividend Equivalent Payments”), provided the applicable Performance Criteria described below have been satisfied. 
 2. RESTRICTION PERIOD. The period during which the restrictions set forth herein and in the Plan shall apply to your right to receive the
Stock Units granted to you shall commence on the date hereof and expire on January 31, 2010 if the Performance Criteria described below for such Stock Units have been satisfied (the “Restriction Period”), subject to the provisions of
Section 6 hereof. During the Restriction Period, you may be entitled to receive Dividend Equivalent Payments, subject to the provisions of Section 4 hereof. 
 3. PERFORMANCE CRITERIA. The Performance Criteria is annual Return on Invested Capital (“ROIC”). However, such Performance Criteria are of no force and effect unless and until the Company has
operating income (“Operating Income”) in one or more of fiscal years 2007, 2008 or 2009. The definition and calculation of annual ROIC and Operating Income shall be determined in accordance with the Long Term Plan document approved and
adopted by the Compensation and Benefits Committee of the Company’s Board of Directors (the “Committee”). 
 For the fiscal
year ending December 31, 2007, you may earn up to one-third of your Stock Unit Target Award as shown on Exhibit A for those Stock Units which have met the applicable ROIC Performance Criteria. For the fiscal year ending December 31, 2008,
you may earn up to a total of two-thirds of your Stock Unit Target Award as shown on Exhibit A based on the average of the first two fiscal years of ROIC performance achieved less any Stock Units 

 
earned in the first fiscal year. For the fiscal year ending December 31, 2009, you may earn up to two hundred percent of your Stock Unit Target Award as
shown on Exhibit A based on the average of all three fiscal years (2007, 2008, and 2009) of ROIC performance achieved less any Stock Units earned in the first two fiscal years. 
 4. DIVIDEND EQUIVALENT RIGHTS. During the Restriction Period, for those Stock Units which have met the applicable Performance Criteria,
unless otherwise determined by the Committee, you shall be entitled to receive Dividend Equivalent Payments. 
 5. RESTRICTIONS.
(i) You shall be entitled to delivery of the shares of Common Stock only as specified in Section 6 hereof; (ii) none of the Stock Units may be sold, transferred, assigned, pledged, or otherwise encumbered or disposed of;
(iii) your right to receive Dividend Equivalent Payments shall terminate without further obligation on the part of the Company at the earlier of your termination of employment with the Company or a Subsidiary (as defined in the Plan), or your
right to receive Common Stock under Section 6 hereof; (iv) all of the Stock Units shall be forfeited and all of your rights to such Stock Units and the right to receive Common Stock shall terminate without further obligation on the part of
the Company in the event of your termination of employment with the Company or a Subsidiary without having a right to delivery of shares of Common Stock under Section 6 hereof and (v) any Stock Units not earned as of the end of the
Restriction Period shall be forfeited and all of your rights to such Stock Units shall terminate without further obligation on the part of the Company. 
 6. PAYMENT OF STOCK UNITS. (i) At the end of the Restriction Period and provided you have remained continuously employed by the Company or a Subsidiary, unless otherwise determined by the Committee,
shares of Common Stock equal to the number of Stock Units which have met the applicable Performance Criteria shall be delivered to you (through your account at the Company’s third party stock plan administrator, if applicable) free of all
restrictions, provided the Company has Operating Income in one or more of the fiscal years 2007, 2008 or 2009. 
 (ii) If your employment
with the Company or a Subsidiary ends prior to the end of the Restriction Period and prior to a Change in Control, because you die or become Disabled, unless otherwise determined by the Committee, you, your estate or your beneficiary, as the case
may be, shall be entitled to receive shares of Common Stock equal to the number of Stock Units which have met the applicable Performance Criteria through the end of the fiscal year ending prior to the date of your death or Disability, as the case
may be, provided the Company has Operating Income in one or more of the fiscal years 2007, 2008 or 2009 and further provided that such fiscal year precedes the date of your death or Disability. Section 8(c)(i) of the Plan pertaining to the
vesting of Stock Units upon retirement at or after actual age 65 shall not be applicable. However, if you remain continuously employed and retire at or after actual age 60 

 
under the provisions of the Company’s or a Subsidiary’s pension plan, you shall be entitled to receive the number of Stock Units which have met the
applicable Performance Criteria through the end of the fiscal year ending prior to the date of your retirement, provided the Company has Operating Income in one or more of the fiscal years 2007, 2008 or 2009 and further provided that such fiscal
year precedes the date of your retirement. 
 (iii) If a Change In Control occurs prior to the end of the Restriction Period and prior to
your death, Disability or retirement on or after actual age 60 (as defined in section 8(c) of the Plan, as modified by Section 6(ii) hereof), shares of Common Stock equal to the number of Stock Units that would have been deliverable if the
Performance Criteria shall have been satisfied at the greater of one hundred percent of your Stock Unit Target Award as shown on Exhibit A or the number of Stock Units that would have been delivered based on the Performance Criteria satisfied
through the end of each fiscal year prior to the occurrence of such Change in Control and through the end of the most recent fiscal quarter ending prior to the date of the Change in Control shall be delivered to you (through your account at the
Company’s third party administrator, if applicable) free of all restrictions, provided the Company has Operating Income in one or more of the calendar years 2007, 2008 or 2009 and further provided that such calendar year precedes the date of
the Change in Control. In either event following the Change in Control no greater Performance Criteria may be earned under this Agreement. 
 (iv) If your employment with the Company or a Subsidiary ends for any other reason, with or without cause, prior to the earlier of the end of the Restriction Period or a Change in Control, you will forfeit all Stock Units and all of your
rights to such Stock Units shall terminate without further obligation on the part of the Company. 
 (v)
Any payment of Common Stock pursuant to this Section 6 shall occur on or before the 15th day of the third month
of the calendar year following the calendar year in which you become entitled to such payment, except as provided in Section 18. 
 7.
WITHHOLDING. Upon payment of the Stock Units, you must arrange for the payment to the Company (through the Company’s third party stock plan administrator, if applicable) of all applicable withholding taxes resulting therefrom
promptly after notification of the amount thereof. You may elect to have shares withheld to pay withholding taxes if a proper election to pay withholding taxes in this manner is made. 
 8. SUBJECT TO PLAN. The award confirmed by this Agreement is subject to the terms and conditions of the Plan, as the same may be amended
from time to time in accordance with Section 19 thereof. 
 PROTECTION OF CONFIDENTIALITY 
 9. CONFIDENTIAL INFORMATION; TRADE SECRETS. By electronically signing Exhibit A to this Agreement, you acknowledge that the Company regards
certain 

 
information relating to its business and operations as confidential. This includes all information that the Company could reasonably be expected to keep
confidential and whose disclosure to third parties would likely be disparaging or detrimental to the Company (“Confidential Information”). Your electronic signature also acknowledges that the Company has certain information that derives
economic value from not being known to the general public or to others who could obtain economic value from its disclosure or use, which the Company takes reasonable efforts to protect the secrecy of (“Trade Secrets”). 
 10. TYPES OF CONFIDENTIAL INFORMATION OR TRADE SECRETS. By electronically signing Exhibit A, you acknowledge that you developed or have had
or will have access to one or more of the following types of Confidential Information or Trade Secrets: information about rates or costs; customer or supplier agreements and negotiations; business opportunities; scheduling and delivery methods;
business and marketing plans; financial information or plans; communications within the attorney-client privilege or other privileges; operating procedures and methods; construction methods and plans; proprietary computer systems design, programming
or software; strategic plans; succession plans; proprietary company training programs; employee performance, compensation or benefits; negotiations or strategies relating to collective bargaining agreements and/or labor disputes; and internal or
external claims or complaints regarding personal injuries, employment laws or policies, environmental protection, or hazardous materials. By electronically signing Exhibit A, you agree that any disclosures by you to any third party of such
Confidential Information or Trade Secrets would constitute gross misconduct within the meaning of the Plan. 
 11. PRIOR CONSENT
REQUIRED. By electronically signing Exhibit A, you agree that you will not, unless you receive prior consent from the Company’s Senior Vice President, Human Resources & Secretary or such other person designated by the Company
(hereinafter collectively referred to as the “Sr. VP-HR & S”), or unless ordered by a court or government agency, (i) disclose to any subsequent employer or unauthorized person any Confidential Information or Trade Secrets,
or (ii) retain or take with you when you leave the Company any property of the Company or any documents (including any electronic or computer records) relating to any Confidential Information or Trade Secrets. 
 12. PRIOR NOTICE OF EMPLOYMENT, ETC. By electronically signing Exhibit A, you acknowledge that if you become an employee, contractor, or
consultant for any other railroad, this would create a substantial risk that you would, intentionally or unintentionally, disclose or rely upon the Company’s Confidential Information or Trade Secrets for the benefit of the other railroad to the
detriment of the Company. You further acknowledge that such disclosures would be particularly damaging if made shortly after you leave the Company. Therefore, by electronically signing Exhibit A, you agree that for a period of one- 

 
year after you leave the Company, before accepting any employment or affiliation with another railroad you will give written notice to the Sr.
VP-HR & S of your intention to accept such employment or affiliation. You also agree to confer in good faith with the Sr. VP-HR & S concerning whether your proposed employment or affiliation could reasonably be expected to be
performed without improper disclosure of Confidential Information or Trade Secrets. If the Sr. VP-HR & S and you are unable to reach agreement on this issue, you agree to submit this issue to arbitration, to be conducted under the rules of
the American Arbitration Association, for final resolution. You also agree that you will not begin to work for another railroad until the Sr. VP-HR & S or an arbitrator has determined that such employment could reasonably be expected to be
performed without improper disclosure of the Company’s Confidential Information or Trade Secrets. 
 13. FAILURE TO
COMPLY. By electronically signing Exhibit A, you agree that, if you fail to comply with any of the promises that you made in Section 11 or 12 above, you will return to the Company any shares of Common Stock (or the market value of any
shares of Common Stock received) which you received at any time from 180 days prior to the earlier of (i) the date when you leave the Company or (ii) the date you fail to comply with any such promise you made in Section 11 or 12 to
180 days after the date when the Company learns that you have not complied with any such promise. You agree that you will return such shares of Common Stock to the Company on such terms and conditions as may be required by the Company. You further
agree that the Company will be entitled to set off the market value of any such shares of Common Stock against any amount that might be owed to you by the Company. 
 NO DIRECT COMPETITION 
 14. SOLICITATION OF CUSTOMERS; NO EMPLOYMENT WITH WESTERN
ROADS. By electronically signing Exhibit A, you agree for a period of one year following your departure from the Company, you will not (directly or in association with others) call on or solicit the business of any of the Company’s
customers with whom you actually did business or otherwise had personal contact while you were employed by the Company, for the purpose of providing the customers with goods and/or services similar in nature to those provided by the Company in the
states in which the Company now operates. You further agree that for the same time period, you will not become an employee, contractor or consultant for any of the following companies, which compete directly with the Company: Burlington Northern
Santa Fe Corporation; Kansas City Southern Industries, Inc.; Dakota, Minnesota & Eastern Railway Company; Illinois Central Corporation; and Texas Mexican Railway Company (including their respective affiliates and subsidiaries or any company
which acquires or is acquired by any such company) (the “Western Roads”). This Section 14 is not intended to prevent you from working for any employer other than a Western Road. This Section does not apply to employees who work in
California at the time when this Agreement is electronically signed or when their employment with the Company ends. 

 15. ACKNOWLEDGMENT; INJUNCTIVE RELIEF. By electronically signing Exhibit A, you acknowledge
that Section 14 will not prevent you from being gainfully employed after you leave the Company, because you will remain free to work in any occupation, profession, trade, or business so long as you comply with your promises in Section 14.
You also agree that because money damages would not be adequate to compensate the Company if you violate any of your promises in Section 14, the Company would be entitled to an injunction from a Court to enforce those promises. 
 16. VIOLATION OF PROMISES. By electronically signing Exhibit A, you agree that if you violate any of your promises in Section 14, then
you will return to the Company any shares of Common Stock (or the fair market value thereof) granted to you by this Agreement which you received at any time from 180 days prior to the date when you leave the Company to 180 days after the date when
the Company learns that you have not complied with the promises you made in Section 14. You agree that you will return such shares of Common Stock (or the fair market value thereof) to the Company on such terms and conditions as may be required
by the Company. You further agree that the Company will be entitled to set off the market value of any such shares of Common Stock against any amount that might be owed to you by the Company. 
 GENERAL 
 17. RESTATEMENTS OF FINANCIAL RESULTS. By
electronically signing Exhibit A, you agree that you will return such shares of Common Stock (or the fair market value thereof) to the Company as determined by the Committee in its exclusive discretion, which shall be final, conclusive and binding
upon the Company and you. The Committee will exercise its discretion only in the event that the Committee’s certification of a level of ROIC was based on financial results subsequently revised by a restatement of such financial results and only
to the extent that such restated financial results would have entitled you to a lesser award of Common Stock under the Performance Criteria. 
 18. DEFERRAL. You may be provided with an opportunity to elect to defer receipt under a deferred compensation program established by the Committee that complies with Section 409A of the Internal Revenue Code of 1986, as
amended (“Code”) of any payment of Common Stock under Section 6 hereof. 
 19. SEVERABILITY. If any provision of
this Agreement is, becomes, or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, such provision shall be construed or deemed amended or limited in scope to conform to applicable laws or, in the discretion of the Company, it
shall be stricken and the remainder of the Agreement shall remain in force and effect. 

 20. CHOICE OF LAW. All questions pertaining to the construction, regulation, validity, and
effect of this Agreement shall be determined in accordance with the laws of the State of Utah, without regard to the conflict of laws doctrine. 
 21. EMPLOYMENT AT WILL. In accordance with Section 21(a) of the Plan, this Agreement shall not be construed to confer upon any person any right to be continued in the employ of the Company or a Subsidiary. 
 22. DEFINED TERMS. For purposes of this Agreement, capitalized terms shall have the meanings specified in the Plan, unless a different
meaning is provided in this Agreement or a different meaning is plainly required by the context. 
  

 To confirm acceptance of the foregoing, kindly click on Button 2 “Long Term Plan Award (Exhibit A)” and select “I accept the above award
and the related Agreement”. 
  

			
	Sincerely,
	UNION PACIFIC CORPORATION
	
	By:   /s/ James R. Young
	Chairman, President & Chief Executive Officer

 Long Term Plan Award (Exhibit A) 
 January 30, 2007 
 Please verify the following information: 
 First name: 
 Middle initial/name: 
 Last name: 
 ID: 
 Company: 
 If any of the above information is not correct, please
check the box below: 
 _ Incorrect Personal Information 
 Type of grant: LTP Retention Units 
 TARGET Number of retention units granted: 
 The amount of shares shown is the “target” number of shares that you are eligible to receive in accordance with the program design shown in the Long Term Plan
Summary. This number is for 100% of target performance. The actual number of shares paid out at vesting, if any, depends on applicable performance criteria being met. 
 MAXIMUM Number of retention units granted: 
 The amount of shares shown is the “maximum” number of shares
that you are eligible to receive in accordance with the program design shown in the Long Term Plan Summary. This number is for 200% of target performance. The actual number of shares paid out at vesting, if any, depends on applicable performance
criteria being met. 
 Restriction period: 
 Restriction commencement date: 
 Restriction termination date: 
 By executing this Exhibit A, I acknowledge that I am bound by all of the terms of the Union Pacific Corporation 2004 Stock Incentive Plan and the Agreement delivered herewith, each of which is incorporated by
reference in this Exhibit A. 
 Please make a choice below: 
 _ I accept the above award and the related Agreement 
 _ I do not accept this award and/or the related Agreement 
 After making a choice please click the SEND button above. 
 For
general tax purposes, Stock Units are valued at the time of vesting. The closing price of Union Pacific Corporation common stock on the vesting date as recorded by The Wall Street Journal is used when preparing tax calculations.Amended UPC 2000 Directors Stock Plan

 Exhibit 10(b) 
 UNION PACIFIC CORPORATION 
 2000 DIRECTORS STOCK PLAN 
 Effective as of April 21, 2000 
 As
amended November 16, 2006 and January 30, 2007 

 UNION PACIFIC CORPORATION 
 2000 DIRECTORS STOCK PLAN 
  

	1.	PURPOSE 

 The purpose of the Union Pacific
Corporation 2000 Directors Stock Plan (the “Plan”) is to advance the interests of Union Pacific Corporation, a Utah corporation (the “Company”), by enabling the Company to attract, retain and motivate qualified individuals to
serve on the Company’s Board of Directors and to align the financial interests of such individuals with those of the Company’s stockholders by providing for or increasing their proprietary interest in the Company. 
  

	2.	DEFINITIONS 

  

	 	(a)	“Board” means the Board of Directors of the Company. 

  

	 	(b)	“Committee” means the Board and/or a committee of the Board acting pursuant to its authorization to administer this Plan under Section 7. 

  

	 	(c)	“Common Stock” means the Company’s Common Stock, par value $2.50, as presently constituted, subject to adjustment as provided in Section 8.

  

	 	(d)	“Fair Market Value” means, as of any date, and unless the Board shall specify otherwise, the closing price of a share of Common Stock as reported in the Wall Street
Journal listing of composite transactions for New York Stock Exchange issues. 

  

	 	(e)	“Non-Employee Director” means a member of the Board who is not at the time also an employee or former employee of the Company or any of its direct or indirect
majority-owned subsidiaries (regardless of whether such subsidiary is organized as a corporation, partnership or other entity). 

  

	 	(f)	“Restricted Shares” means shares of Common Stock granted under Section 6(c) of the Plan. 

  

	 	(g)	“Restricted Share Units” means the right to receive in the future a share of Common Stock granted under Section 6(c) of the Plan. 

  

	 	(h)	“Retirement” of a Participant means termination of service as a director of the Company other than for cause, if (A) the Participant at the time of termination was
ineligible for continued service as a director under the Company’s Retirement Policy, or (B) the Participant had served as a director of the Company for at least three years from the date Restricted Shares were granted to such Participant,
and such termination is (i) due to Participant’s taking a position with or providing services to a governmental, charitable or educational institution whose policies prohibit continued service on the Board, (ii) due to the fact that
continued service as a director would be a violation of law, or (iii) not due to the voluntary resignation or refusal to stand for reelection by the Participant. 

  

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	 	(i)	“Stock Grant” means the grant of 1,000 Restricted Shares or Restricted Share Units, as determined by the Committee. 

  

	3.	SHARES SUBJECT TO THE PLAN 

 Subject to adjustment
as provided in Section 8, the maximum number of shares of Common Stock which may be issued pursuant to this Plan shall not exceed 550,000, no more than 50,000 of which may be issued as Stock Grants. Shares issued under this Plan may be
authorized and unissued shares of Common Stock or shares of Common Stock reacquired by the Company. All or any shares of Common Stock subject to a stock option under the Plan which for any reason are not issued may again be made subject to a stock
option or Stock Grant under the Plan. 
  

	4.	PARTICIPANTS 

 Any person who is a Non-Employee
Director shall be a participant hereunder (each a “Participant”). 
  

	5.	AWARDS 

  

	 	(a)	(i) Unless determined otherwise below, commencing January 1, 2001, each Participant shall receive annually, on the date of the first meeting of the Board of Directors of a
calendar year, an option to purchase a number of shares of Common Stock determined by dividing 60,000 by 1/3 of the Fair Market Value on the date of such annual meeting of one share of Common Stock, with the resulting quotient rounded (up or down,
as the case may be) to the nearest 50 shares; and 

 (ii) Each Non-Employee Director shall upon his or her initial election to
the Board receive a Stock Grant effective as of the date of such election. A Participant shall not be required to make any payment for a Stock Grant granted hereunder. 
  

	 	(b)	Subject always to Section 5(c), the Board may in its discretion adjust the formula set forth in Section 5(a)(i) pursuant to which the number of shares subject to an option
shall be determined, provided that no such adjustment shall effect any option then outstanding under the Plan. 

  

	 	(c)	Subject to adjustment pursuant to Section 8, the maximum number of shares of Common Stock subject to stock options awarded under this Plan during any calendar year to any
person on account of his or her service as a Non-Employee Director shall not exceed 5,000 shares. 

  

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	6.	TERMS AND CONDITIONS OF STOCK AWARDS 

  

	 	(a)	General Terms and Conditions: Stock options and Stock Grants awarded pursuant to the Plan need not be identical but each stock option and Stock Grant shall be subject to the
following general terms and conditions: 

 (i) Terms and Restrictions Upon Shares: The Board may provide that the shares
of Common Stock issued upon exercise of a stock option or receipt of a Stock Grant shall be subject to such further conditions, restrictions or agreements as the Board in its discretion may specify prior to the exercise of such stock option or
receipt of a Stock Grant, including without limitation, deferrals on issuance, conditions on vesting or transferability, and forfeiture or repurchase provisions. The Committee may permit a Participant to elect to defer receipt of all or part of the
Common Stock issuable upon the exercise of a stock option or receipt of a Stock Grant, pursuant to rules and regulations adopted by the Committee. 
 (ii) Other Terms and Conditions: Except as set forth herein, no holder of a stock option or Stock Grant shall have any rights as a stockholder with respect to any shares of Common Stock subject to a stock option or Stock Grant
hereunder until said shares have been issued. Stock options or Stock Grants may also contain such other provisions, which shall not be inconsistent with any of the foregoing terms, as the Board or the Committee shall deem appropriate. The Board may
waive conditions to and/or accelerate exercisability of a stock option or vesting of a Stock Grant, either automatically upon the occurrence of specified events (including in connection with a change of control of the Company) or otherwise in its
discretion. No stock option or Stock Grant, however, nor anything contained in the Plan, shall confer upon any Participant any right to serve as a director of the Company. 
  

	 	(b)	Terms and Conditions of Stock Options 

 (i) Term
of Stock Options: Each stock option granted pursuant to the Plan shall have a term of ten years from the date of grant. 
 (ii)
Transferability of Stock Options: Unless otherwise provided by the Committee, each stock option shall be transferable only by will or the laws of descent and distribution. 
 (iii) Vesting of Stock Options: Unless otherwise provided by the Committee in awarding a stock option, each stock option granted pursuant to the
Plan shall vest in full on the first anniversary of the grant date for such option; provided, however, that, unless otherwise provided by the Committee, in the event of the death or disability (as determined by the Committee) of a Participant, any
unvested option granted pursuant to the Plan shall vest immediately. 
  

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 (iv) Exercise of Stock Option after Termination of Service: Unless otherwise provided by the
Committee in awarding a stock option, in the event a Non-Employee Director ceases to be a director of the Company for any reason, such Non-Employee Director shall be able to exercise any stock options held by such Non-Employee Director and vested on
the date of such termination for a period of five years after the date of such termination; provided, that (i) in no event shall any stock option be exercisable after expiration of such option’s ten year term and (ii) any unexercised
stock option shall expire immediately upon a Participant’s removal for cause from the Board. 
 (v) Stock Option Price: The
exercise price for each stock option shall be the Fair Market Value of the stock on the date of grant. The exercise price for a stock option previously awarded under the Plan may not be adjusted or amended, except as provided in Section 8. The
exercise price shall be payable in cash, by payment under an arrangement with a broker where payment is made pursuant to an irrevocable direction to the broker to deliver all or part of the proceeds from the sale of the option shares to the Company,
by the surrender of shares of Common Stock owned by the optionholder exercising the option and having a fair market value, as determined by the Committee, on the date of exercise equal to the exercise price but only if such will not result in an
accounting charge to the Company, or by any combination of the foregoing. In addition, the exercise price shall be payable in such other form(s) of consideration as the Committee in its discretion shall specify. 
  

	 	(c)	Stock Grant Terms. 

 (i) Unless otherwise provided
by the Committee in its discretion, at the time of grant of Restricted Shares to a Participant, a certificate representing 1,000 shares of Common Stock shall be registered in such Participants’ name and shall be held by the Company for his or
her account. Unless otherwise provided by the Committee in its discretion, the Participant shall have the entire beneficial ownership interest in, and all rights and privileges of a stockholder as to, such Restricted Shares, including the right to
vote such restricted Shares and the right to receive dividends, subject to the following restrictions: (A) the Participant shall not be entitled to delivery of such stock certificate until the expiration of the Restriction Period (as
hereinafter defined); (B) none of the Restricted Shares may be sold, transferred, assigned, pledged, or otherwise encumbered or disposed of during the Restriction Period; (C) all of the Restricted Shares shall be forfeited and all rights
of the Participant to such Restricted Shares shall terminate without further obligation on the part of the Company if the Participant ceases to be a director of the Company for any reason other than death, disability (as determined by the
Committee), or Retirement. Any shares of Common Stock or other securities or property received as a result of a transaction listed in Section 8 hereof shall be subject to the same restrictions as such Restricted Shares. 
  

 4 

 (ii) At the end of the Restriction Period all restrictions applicable to the Restricted Shares shall
lapse, and a stock certificate for a number of shares of Common Stock equal to the number of Restricted Shares, free of all restrictions, shall be delivered to the Participant or his beneficiary, as the case may be. “Restriction Period”
shall mean the period commencing on the date of grant of Restricted Shares and ending on the date such director ceases to be a director of the Company by reason of death, disability (as determined by the Committee) or Retirement. 
 (iii) Awards of Restricted Share Units shall be payable in shares of Common Stock. The provisions of Section 6(c)(i) and 6(c)(ii) of the Plan
relating to the vesting and forfeiture of Restricted Shares shall apply to any award of Restricted Stock Units. Any award of Restricted Share Units may provide the Participant with the right to receive dividend payments or dividend equivalent
payments on the Common Stock subject to the award, whether or not such award has vested. Such payments may be made in cash or may be credited to a Participant’s account and later settled in cash or Common Stock or a combination thereof, as
determined by the Committee. Such payments and credits may be subject to such conditions and contingencies as the Committee may establish. 
  

	7.	ADMINISTRATION OF THE PLAN 

 The Plan shall be
administered by the Board, except that as provided herein the Plan may be administered by a Committee of the Board, as appointed from time to time by the Board. The Board shall fill vacancies on and from time to time may remove or add members to the
Committee. The Committee shall act pursuant to a majority vote or unanimous written consent. 
 Subject to the express provisions of this
Plan, the Committee shall be authorized and empowered to do all things necessary or desirable in connection with the administration of this Plan, including, without limitation: (a) to prescribe, amend and rescind rules relating to this Plan and
to define terms not otherwise defined herein; (b) to prescribe the form of documentation used to evidence any stock option or Stock Grant awarded hereunder, including provision for such terms as it considers necessary or desirable, not
inconsistent with the terms established by the Board; (c) to establish and verify the extent of satisfaction of any conditions to exercisability applicable to stock options or to receipt or vesting of Stock Grants; (d) to determine
whether, and the extent to which, adjustments are required pursuant to Section 8 hereof; and (e) to interpret and construe this Plan, any rules and regulations under the Plan and the terms and conditions of any stock option or Stock Grant
awarded hereunder, and to make exceptions to any procedural provisions in good faith and for the benefit of the Company. Notwithstanding any provision of this Plan, the Board may at any time limit the authority of the Committee to administer this
Plan. 
 All decisions, determinations and interpretations by the Board or, except as to the Board, the Committee regarding the Plan, any
rules and regulations under the Plan and the terms 

  

 5 

 
and conditions of any stock option or Stock Grant awarded hereunder, shall be final and binding on all Participants and holders of stock options or Stock
Grants. The Board and the Committee may consider such factors as it deems relevant, in its sole and absolute discretion, in making such decisions, determinations and interpretations including, without limitation, the recommendations or advice of any
officer or other employee of the Company and such attorneys, consultants and accountants as it may select. 
 All questions pertaining to the
construction, regulation, validity and effect of the Plan shall be determined in accordance with the laws of the State of Utah. 
  

	8.	ADJUSTMENT OF AND CHANGES IN THE STOCK 

 If the
outstanding securities of the class then subject to this Plan are increased, decreased or exchanged for or converted into cash, property or a different number or kind of shares or securities, or if cash, property or shares or securities are
distributed in respect of such outstanding securities, in either case as a result of a reorganization, reclassification, dividend (other than a regular cash dividend), or other distribution, stock split, reverse stock split, spin-off or the like, or
if substantially all of the property and assets of the Company are sold, or any equity restructuring transaction, as that term is defined in Statement of Financial Accounting Standards No. 123 (revised), occurs, then, unless the terms of such
transaction shall provide otherwise, the maximum number and type of shares or other securities that may be issued under this Plan shall be appropriately adjusted. The Committee shall determine in its sole discretion the appropriate adjustment to be
effected pursuant to the immediately preceding sentence. In addition, in connection with any such change in the class of securities then subject to this Plan, the Committee may make appropriate and proportionate adjustments in the number and type of
shares or other securities or cash or other property that may be acquired pursuant to stock options or Stock Grants theretofore awarded under this Plan and the exercise price of such stock options or price, if any, of such Stock Grants. 

No right to purchase or receive fractional shares shall result from any adjustment in stock options or Stock Grants pursuant to this Section 8. In
case of any such adjustment, the shares subject to the stock option or Stock Grant shall be rounded up to the nearest whole share of Common Stock. 
  

	9.	REGISTRATION, LISTING OR QUALIFICATION OF STOCK 

 In
the event that the Board or the Committee determines in its discretion that the registration, listing or qualification of the shares of Common Stock issuable under the Plan on any securities exchange or under any applicable law or governmental
regulation is necessary as a condition to the issuance of such shares under the stock option or Stock Grant, the stock option or Stock Grant shall not be exercisable or exercised in whole or in part unless such registration, listing, qualification,
consent or approval has been unconditionally obtained. 
  

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	10.	EFFECTIVE DATE, AMENDMENT AND TERMINATION OF PLAN 

 This Plan shall become effective upon its approval by the Company’s shareholders at the Company’s 2000 annual meeting of stockholders. 
 The Board may periodically amend the Plan as determined appropriate, without further action by the Company’s stockholders except to the extent required by applicable law. Notwithstanding the foregoing, and
subject to adjustment pursuant to Section 8, the Plan may not be amended to materially increase the number of shares of Common Stock authorized for issuance under the Plan, unless any such amendment is approved by the Company’s
stockholders. The Plan may be terminated at such time as the Board may determine. Termination and expiration of the Plan will not affect the rights and obligations arising under stock options or Stock Grants theretofore awarded and then in effect.

  

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