Document:

Consulting Agreement

 Exhibit 10.132 
 CONSULTING AGREEMENT 
 CONSULTING AGREEMENT (this “Agreement”),
made and entered into as of the 2nd day of July, 2009, by and between
Charles & Colvard, Ltd., a North Carolina corporation (the “Company”), and Bird Capital Group, Inc., a Nevada corporation (“Consultant”). 
 W I T N E S S E T H: 
 WHEREAS, the Company desires to retain Consultant to
provide the services of Richard A. Bird (“Bird”) to render consulting and advisory services for the Company on the terms and conditions set forth in this Agreement, and Consultant desires to be retained by the Company on such terms
and conditions. 
 NOW THEREFORE, in consideration of the premises, the respective covenants and commitments of the Company and Consultant
set forth in this Agreement, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and Consultant agree as follows: 
 1. Retention of Consultant; Services to be Performed. The Company hereby retains Consultant to provide the services of Bird to render such
business consulting advisory services as the Company may reasonably request during the term of this Agreement in order to assist the Company in transitioning to a new executive management team. Consultant hereby accepts such engagement and agrees to
perform such services for the Company upon the terms and conditions set forth in this Agreement. During the term of this Agreement, Consultant shall devote such time to the Company as may be reasonably required to transition Company matters to a new
executive management team and to perform such other services as may be required by this Agreement, and shall assume and perform to the best of its ability such reasonable duties, consistent with the first sentence of this Section 1. During the
term of this Agreement, Consultant shall report to George R. Cattermole. 
 2. Term and Termination. The term of this Agreement shall
commence as of the close of business on the date of this Agreement and shall terminate no later than August 31, 2009, or earlier at the option of the Company. Upon the termination of this Agreement, neither party shall thereafter have any
further rights, duties or obligations under this Agreement (except that the provisions of Sections 5, 6 and 7, and Consultant’s right to receive any unpaid consulting fees and expense reimbursements with respect to periods prior to the
effective date of termination, shall survive any termination of this Agreement). 
 3. Compensation. As compensation in full for
Consultant’s services hereunder, the Company shall pay to Consultant a monthly cash consulting fee in the amount of $20,000, pro rated to account for any partial month. The consulting fee shall be payable to Consultant in arrears on the last
day of each month during the term of this Agreement. 
 4. Expenses. Consultant shall be reimbursed by the Company in accordance with
the reasonable policies and procedures that are established from time to time by the Company for all reasonable and necessary out-of-pocket expenses that are incurred by Consultant in performing his 

 
duties under this Agreement, including, without limitation, reasonable travel expenses incurred by Consultant. The Company will purchase in advance required
air travel tickets for Consultant to travel to and from Morrisville, North Carolina as required, and the Company will pay directly as incurred for hotel costs for Consultant while working in Morrisville or otherwise traveling for the Company in
accordance with the reasonable policies and procedures that are established from time to time by the Company. 
 5. Indemnification.
The Company agrees to indemnify and hold harmless Consultant and its officers, directors, employees, agents and affiliates (including, without limitation, Bird) (each of the foregoing, an “Indemnified Party”), from and against any
and all losses, claims, suits, actions, judgments, damages, costs, liabilities, and reasonable expenses (including legal and other expenses reasonably incurred by any Indemnified Party in connection with investigating or defending against any such
loss, claim, damage, or liability) (each a “Loss”) as and when incurred (including, without limitation, the advancement of expenses incurred by BCG or Bird in connection with defending against any Loss upon receipt of an undertaking
by or on behalf of BCG or Bird to repay such amount unless it shall be ultimately determined that it or he is entitled to be indemnified by C&C against such expenses) arising out of or based upon (a) this Agreement, and/or
(b) Consultant’s or Bird’s activities or services under this Agreement. 
 6. Return of All Assets of the Company.
During the term of this Agreement, Consultant shall return to the Company all assets of the Company in the possession of Consultant, including any confidential or proprietary material. 
 7. Miscellaneous. 
 (a)
Assignment. This Agreement and the rights and obligations of the parties hereunder shall not be assignable, in whole or in part, by either party without the prior written consent of the other party. 
 (b) Governing Law; Exclusive Venue. THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NORTH CAROLINA AND FOR ALL
PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN SAID STATE WITHOUT CONSIDERATION OF ANY CONFLICTS OF LAW PROVISIONS THEREOF. Each party to this Agreement (i) hereby
irrevocably submits to the exclusive jurisdiction of any United States District Court sitting in North Carolina for the purposes of any suit, action or proceeding arising out of or relating to this Agreement or any of the transactions contemplated
hereby, (ii) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum
or that the venue of the suit, action or proceeding is improper, and (iii) hereby waives any and all rights it may have to a trial by jury with respect to any suit, action or proceeding based on, or arising out of, under, or in connection with,
this Agreement. 
 (c) Entire Agreement. This Agreement evidences the entire understanding and agreement of the parties hereto
relative to the consulting arrangement between Consultant and the 

 
Company. This Agreement supersedes any and all other agreements and understandings, whether written or oral, relative to the consulting arrangement between
Consultant and the Company. This Agreement may only be amended by a written document signed by both Consultant and the Company. 
 (d)
Severability. If any term, provision covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set
forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable efforts to find and employ a valid, legal, nonvoid and enforceable alternative means to
achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
 (e) Notices. All notices hereunder shall be in writing and shall be delivered personally or sent by recognized overnight courier (such as Federal Express) for next business day delivery, postage prepaid, by certified U.S.
Mail, return receipt requested and postage prepaid, or by facsimile with electronic confirmation of receipt, to the parties at the following addresses: to Consultant, 1330 Post Oak Boulevard, Suite 1600, Houston, Texas 77056, attn: Richard A. Bird,
Telephone No. 713-302-3312, with a copy to Warren W. Garden, Esq., Block & Garden, LLP, Sterling Plaza, 5949 Sherry Lane, Suite 900, Dallas Texas 75225, Telephone No. 214-866-0993, Fax No. 214-866-0991; and to the Company, 20
South Hampshire Court, Wilmington, Delaware 19807, attn: George R. Cattermole, Fax No. 302-636-0559, with a copy to Womble Carlyle Sandridge & Rice, PLLC, One Wachovia Center, Suite 3500, 301 South College Street, Charlotte, North
Carolina 28202-6037, attn: Cyrus M. Johnson, Jr., Fax No. 704-338-7809. A notice shall be deemed to be given only upon the confirmation of delivery by receipt by the party or refusal of acceptance of delivery. Any party may change the address
to which notice is given by giving notice of such change of address in accordance herewith. 
 (f) Status of Consultant. In rendering
services pursuant to this Agreement, Consultant shall be acting as an independent contractor and not as an employee or agent of the Company. As an independent contractor, Consultant shall have no authority, express or implied, to commit or obligate
the Company in any manner whatsoever, except as specifically authorized from time to time in writing by an authorized representative of the Company, which authorization may be general or specific. Nothing contained in this Agreement shall be
construed or applied to create a partnership. Consultant shall be responsible for the payment of all federal, state or local taxes payable with respect to all amounts paid to Consultant under this Agreement. 
 [Remainder of page intentionally left blank; signature page to follow.] 

 IN WITNESS WHEREOF, the Company and Consultant have executed this Agreement as of the date set forth in
the first paragraph. 
  

			
	CHARLES & COLVARD, LTD.
		
	By:	 	 /s/ George R. Cattermole

		 	George R. Cattermole, Chairman
	
	BIRD CAPITAL GROUP, INC.
		
	By:	 	 /s/ Richard A. Bird

		 	Richard A. Bird, PresidentIntegrated Device Technology, Inc. 2009 Employee Stock Purchase Plan

Table of Contents

 Exhibit 4.1 
 INTEGRATED DEVICE TECHNOLOGY, INC. 
 2009 EMPLOYEE STOCK PURCHASE PLAN 

Table of Contents

 TABLE OF CONTENTS 
 Page 
  

					
			
	Section 1.	  	Establishment of the Plan	  	1
			
	Section 2.	  	Definitions	  	1
			
	Section 3.	  	Shares Authorized	  	2
			
	Section 4.	  	Administration	  	2
			
	Section 5.	  	Eligibility and Participation	  	3
			
	Section 6.	  	Purchase Price	  	3
			
	Section 7.	  	Employee Contributions	  	3
			
	Section 8.	  	Plan Accounts; Purchase of Shares	  	3
			
	Section 9.	  	Withdrawal From the Plan	  	4
			
	Section 10.	  	Effect of Termination of Employment or Death	  	4
			
	Section 11.	  	Rights Not Transferable	  	4
			
	Section 12.	  	Recapitalization, Etc	  	5
			
	Section 13.	  	Limitation on Stock Ownership	  	5
			
	Section 14.	  	No Rights as an Employee	  	5
			
	Section 15.	  	Rights as a Stockholder	  	5
			
	Section 16.	  	Use of Funds	  	5
			
	Section 17.	  	Amendment or Termination of the Plan	  	5
			
	Section 18.	  	Governing Law	  	5
			
	Section 19.	  	Stockholder Approval	  	5

Table of Contents

 INTEGRATED DEVICE TECHNOLOGY, INC. 
 2009 EMPLOYEE STOCK PURCHASE PLAN 
 Section 1. Establishment of the Plan. 
 The Integrated Device Technology, Inc.
2009 Employee Stock Purchase Plan (the “Plan”) provides Eligible Employees with an opportunity to purchase the Company’s common stock so that they may increase their proprietary interest in the success of the Company. The Plan, which
provides for the purchase of stock through payroll withholding, is intended to qualify under Section 
423 of the Code. 
 Section 2. Definitions. 
 (a) “Board of Directors” or “Board” means the Board of Directors of the Company. 
 (b) “Code” means the Internal Revenue Code of 1986, as amended. 
 (c) “Company” means Integrated Device Technology, Inc., a Delaware corporation. 
 (d)
“Company Affiliate” means any company which is either the parent corporation of the Company (as determined in accordance with Section 424 of the Code) or a Subsidiary. 
 (e) “Compensation” means the cash remuneration paid to a Participant during a Purchase Period that is reported on Form W-2 for federal income
tax purposes (including salary deferrals to the Integrated Device Technology, Inc. 401(k) Savings Plan and contributions to the Company’s Code Section 125 plan). Compensation shall include overtime and shift differential payments,
incentive compensation, commissions, profit sharing payments and bonuses. Notwithstanding the foregoing, Compensation shall exclude any special payments (e.g., moving or auto allowances, educational reimbursements, welfare benefits, amounts realized
from the exercise, sale exchange or other disposition of any stock option and premiums for life and disability insurance). 
 (f) “Date
of Exercise” means the last day of each Purchase Period. 
 (g) “Eligible Employee” means any Employee of a Participating
Company (i) who is customarily employed for at least twenty (20) hours per week, (ii) who is customarily employed for more than five (5) months per calendar year, and (iii) who is an Employee at the commencement of a
Purchase Period. 
 In the event an Eligible Employee fails to remain in the continuous employ of a Participating Company customarily for at
least twenty (20) hours per week during a Purchase Period, he or she will be deemed to have elected to withdraw from the Plan and the payroll deductions credited to his or her account will be returned to him or her; provided that a Participant
who goes on an unpaid leave of absence shall be permitted to remain in the Plan during such leave of absence. Notwithstanding the preceding sentence, if such Participant is not guaranteed reemployment by contract or statute and the leave of absence
extends beyond ninety (90) days, such Participant shall be deemed to have terminated employment for purposes of the Plan on the ninety-first (91st) day of such leave of absence. Payroll deductions for a Participant who has been on an
unpaid leave of absence will resume at the same rate as in effect prior to such leave upon return to work unless changed by such Participant. 
 (h) “Employee” means any person who renders services to a Participating Company in the status of an employee within the meaning of Code Section 3401(c). “Employee” shall not include any Board member of a
Participating Company who does not render services to the Participating Company in the status of an employee within the meaning of Code Section 3401(c). 
 (i) “Fair Market Value” of a share of Stock means the market price of Stock, determined as follows: (i) if the Stock was traded over-the-counter on the date in question but was not classified as a
national market issue, then the Fair Market Value shall be equal to the closing bid price quoted by the National Association of Securities Dealers, Inc. (“NASDAQ”) for the immediately preceding date; (ii) if the Stock is traded
over-the-counter on the date in question and was classified as a national market issue, then the Fair Market value shall be equal to the last-transaction price quoted by the NASDAQ system for the immediately preceding date; (iii) if the Stock
is traded on a national exchange on the date in question, then the Fair Market Value shall be the highest closing bid price reported on such exchange for the immediately preceding date. If the Stock is not traded on the date as of which the Fair
Market Value is to be determined, Fair Market Value shall be determined as of the first preceding date on which Stock was traded. In all cases the determination of Fair Market Value by the Board of Directors shall be conclusive and binding on all
persons. 
  

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 (j) “Participant” means an Eligible Employee who elects to participate in the Plan, as provided
in Section 5 hereof. 
 (k) “Participating Company” means the Company and such present or future Subsidiaries of the Company
as the Board of Directors shall from time to time designate. 
 (l) “Plan Account” means the account established for each
Participant pursuant to Section 8(a). 
 (m) “Plan Administrator” means the committee appointed by the Board to administer the
Plan pursuant to Section 4. 
 (n) “Purchase Period” with respect to any Participant means each fiscal quarter of the Company.
The first Purchase Period pursuant to the Plan shall commence June 29, 2009. The Board shall have the power to change the frequency and/or duration of Purchase Periods upon at least fifteen (15) days written notice to then-Eligible
Employees before the scheduled beginning of the Purchase Period to be affected. 
 (o) “Purchase Price” means the price at which
Participants may purchase Stock under Section 8 of the Plan, as determined pursuant to Section 6. 
 (p) “Stock” means
the common stock, par value $0.001, of the Company. 
 (q) “Stock Administrator” means the Company’s Stock Administration
Department or such other person(s) as may be retained by the Company to perform or otherwise be delegated some or all of the duties of the Stock Administrator under this Plan. 
 (r) “Subsidiary” means a subsidiary corporation as defined in Section 424(f) of the Code. 
 Section 3. Shares Authorized. 
 The maximum aggregate number of shares which may be issued under the Plan shall be 9,000,000 shares of Stock (subject to adjustment as provided in
Section 12 hereof), which may be either authorized but unissued Stock or reacquired Stock, including shares of Stock purchased on the open market. 
 Section 4. Administration. 
 (a) Except as otherwise
provided herein, the Plan shall be administered by the Board or by a committee (the “Plan Administrator”) appointed by the Board of Directors which shall consist of not less than two members of the Board. References in this Plan to the
“Plan Administrator” shall mean the Board if no Plan Administrator has been appointed. The interpretation and construction by the Plan Administrator of any provision of the Plan or of any right to purchase stock qualified hereunder shall
be conclusive and binding on all persons. 
 (b) No member of the Board or the Plan Administrator shall be liable for any action or
determination made in good faith with respect to the Plan or the right to purchase Stock hereunder. The Plan Administrator shall be indemnified by the Company against the reasonable expenses, including attorney’s fees actually and necessarily
incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which it may be a party by reason of any action taken or failure to act under or in connection with the Plan or any stock
purchased thereunder, and against all amounts paid by it in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by it in satisfaction of a judgment in any such action, suit or
proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that the Plan Administrator is liable for negligence or misconduct in the performance of its duties; provided that within sixty
(60) days after institution of any such action, suit or proceeding, the Plan Administrator shall in writing offer the Company the opportunity, at its own expense, to handle and defend the same. 
 (c) All costs and expenses incurred in administering the Plan shall be paid by the Company. The Board or the Plan Administrator may request advice for
assistance or employ such other persons as are necessary for proper administration of the Plan. 
 (d) At the discretion of the Plan
Administrator, the Stock Administrator or such persons providing advice or assistance pursuant to Section 4(c), any elections, submission or filings made under the Plan by Eligible Employees and/or any statements or notices provided under the
Plan to Eligible Employees in each case may be made electronically or through such “paperless” means as the Plan Administrator, the Stock Administrator or such persons may determine appropriate. 
  

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 Section 5. Eligibility and Participation. 
 (a) Any person who qualifies or will qualify as an Eligible Employee on the first day of a Purchase Period may elect to participate in the Plan for such
Purchase Period. An Eligible Employee may elect to participate by submitting the prescribed enrollment form. The enrollment form shall be filed with the Stock Administrator no later than the filing deadline imposed and communicated to Eligible
Employees with respect to the Purchase Period for which such enrollment form is intended to be effective by the Stock Administrator, and if none is so imposed and/or communicated, then no later than five (5) days before the Purchase Period for
which such enrollment form is intended to be effective. The Eligible Employee shall designate on the enrollment form the percentage of his or her Compensation which he or she elects to have withheld for the purchase of Stock, which may be any whole
percentage from 1 to 15% of the Participant’s Compensation. 
 (b) By enrolling in the Plan, a Participant shall be deemed to have been
granted an option on the first day of each Purchase Period for which he or she is enrolled to purchase the maximum number of whole shares of Stock which can be purchased with the amount of the Participant’s Compensation which is withheld during
the Purchase Period for which the Participation is enrolled. However, with respect to any Purchase Period, no Participant shall be eligible to purchase more than two thousand five hundred (2,500) shares of Stock provided that such amount shall
not result in the limitations set forth in Section 13 being exceeded. Notwithstanding the foregoing, the Plan Administrator, or a committee appointed by the Plan Administrator, which committee may be comprised solely of employees of the
Company, shall have the right to amend the limit set forth in this Section 5(b); provided, however, that in no event shall the limit exceed two thousand five hundred (2,500) shares of Stock per Purchase Period or the limitations set forth
in Section 13. 
 (c) Once enrolled, a Participant will continue to participate in the Plan for each succeeding Purchase Period until he
or she terminates participation or ceases to qualify as an Eligible Employee. A Participant who withdraws from the Plan in accordance with Section 9 may again become a Participant in a subsequent Purchase Period, if he or she then is an
Eligible Employee, by following the procedure described in Section 5(a). 
 Section 6.
Purchase Price. 
 The Purchase Price for each share of Stock shall be the lesser of (a) eighty-five percent (85%) of the
Fair Market Value of such share on the first day of an applicable Purchase Period or (b) eighty-five percent (85%) of the Fair Market Value of such share on the Date of Exercise for an applicable Purchase Period. 
 Section 7. Employee Contributions. 
 A Participant may purchase shares of Stock solely by means of payroll deductions. Payroll deductions, as designated by the Participant pursuant to
Section 5(a), shall commence with the first paycheck issued during the Purchase Period and shall be deducted from each subsequent paycheck throughout the Purchase Period; provided, however, that, with respect to a Participant, the Company shall
be entitled to discontinue payroll deductions for such Participant during a Purchase Period to the extent that the Company determines that the payroll deductions for such Participant during such Purchase Period will cause the Participant to exceed
the limitations set forth in Sections 5 or 13; provided, further, that the Company will recommence payroll deductions for such Participant on the first day of the next Purchase Period to the extent the limitation set forth in Section 13 has not
been exceeded. If a Participant desires to decrease the rate of payroll withholding during a Purchase Period, he or she may do so one time during a Purchase Period by submitting the prescribed percentage change form with the Stock Administrator.
Such decrease will be effective no later than the first day of the second payroll period which begins following the receipt of the new percentage change form. If a Participant desires to increase or decrease the rate of payroll withholding, he or
she may do so effective for the next Purchase Period by submitting a new percentage change form with the Stock Administrator on or before the date imposed and communicated to Eligible Employees by the Stock Administrator, and if none is so imposed
and/or communicated, then no later than five (5) 
days before the Purchase Period for which such change is to be effective. 
 Section 8. Plan
Accounts; Purchase of Shares. 
 (a) The Company will maintain a Plan Account on its books in the name of each Participant. At the close
of each pay period, the amount deducted from the Participant’s Compensation will be credited to the Participant’s Plan Account. 
 (b) As of each Date of Exercise, the amount then in the Participant’s Plan Account will be divided by the Purchase Price, and the number of whole shares which results (subject to the limitations described in Sections 5(b), 8(c) and 13)
shall be purchased from the Company with the funds in the Participant’s Plan Account. The number of shares of Stock so purchased shall be delivered to a brokerage account designated by the Plan 

  

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Administrator and kept in such account pursuant to the enrollment form (which shall be uniform) between each Participant and the Company and subject to the
conditions described therein (which may include, without limitation, restrictions on transferability of the shares of Stock so purchased). 
 (c) In the event that the aggregate number of shares which all Participants elect to purchase during a Purchase Period shall exceed the number of shares remaining available for issuance under the Plan, then the number of shares to which
each Participant shall become entitled shall be determined by multiplying the number of shares available for issuance by a fraction the numerator of which is the sum of the number of shares the Participant has elected to purchase pursuant to
Section 5, and the denominator of which is the sum of the number of shares which all employees have elected to purchase pursuant to Section 5. Any cash amount remaining in the Participant’s Plan Account under these circumstances shall
be refunded to the Participant. 
 (d) Any amount remaining in the Participant’s Plan Account caused by a surplus due to fractional
shares after deducting the amount of the Purchase Price for the number of whole shares issued to the Participant shall be carried over in the Participant’s Plan Account for the succeeding Purchase Period, without interest. Any amount remaining
in the Participant’s Plan Account caused by anything other than a surplus due to fractional shares shall be refunded to the Participant in cash, without interest. 
 (e) As soon as practicable following the end of each Purchase Period, the Company shall deliver to each Participant a Plan Account statement setting forth the amount of payroll deductions, the Purchase Price, the
number of shares purchased and the remaining cash balance, if any. 
 Section 9. Withdrawal From
the Plan. 
 A Participant may elect to withdraw from participation under the Plan at any time up to the last day of a Purchase Period by
submitting the prescribed withdrawal form with the Stock Administrator. As soon as practicable after a withdrawal, payroll deductions shall cease and all amounts credited to the Participant’s Plan Account will be refunded in cash, without
interest. A Participant who has withdrawn from the Plan shall not be a Participant in future Purchase Periods, unless he or she again enrolls in accordance with the provisions of Section 5. 
 Section 10. Effect of Termination of Employment or Death. 
 (a) Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under
Section 9. A transfer from one Participating Company to another shall not be treated as a termination of employment. 
 (b) A
Participant may file a written designation of a beneficiary who is to receive any shares and cash, if any, from the Participant’s Account under the Plan in the event of such Participant’s death subsequent to the purchase of shares but
prior to delivery to him or her of such shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s Account under the Plan in the event of such Participant’s
death prior to the last day of a Purchase Period. Designation of a beneficiary is located on page 2 of the prescribed enrollment form. 
 (c)
Such designation of beneficiary may be changed by the Participant at any time by submitting the prescribed designation of beneficiary change form with the Stock Administrator. In the event of the death of a Participant in the absence of a valid
designation of a beneficiary who is living at the time of such Participant’s death, the Company shall deliver such shares and/or cash in accordance with the Participant’s designation of beneficiaries under the Integrated Device Technology,
Inc. 401(k) Savings Plan; or, in the absence of such designation, to the executor or administrator of the estate of the Participant; or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its
discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the Participant; or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.

 Section 11. Rights Not Transferable. 
 The rights or interests of any Participant in the Plan, or in any Stock or moneys to which he or she may be entitled under the Plan, shall not be
transferable by voluntary or involuntary assignment or by operation of law, or by any other manner other than as permitted by will or the laws of descent and distribution, and during the Participant’s lifetime, purchase rights in the Plan shall
be exercisable only by the Participant. If a Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than as permitted by will or the laws of descent and distribution, such act
shall be treated as an automatic withdrawal under Section 9. 
  

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 Section 12. Recapitalization, Etc. 
 (a) The aggregate number of shares of Stock offered under the Plan, the number and price of shares which any Participant has elected to purchase pursuant
to Section 5 and the maximum number of shares which a Participant may elect to purchase under the Plan in any Purchase Period shall be proportionately adjusted for any increase or decrease in the number of issued shares of Stock resulting from
a subdivision or consolidation of shares or any other capital adjustment, the payment of a stock dividend, or other increase or decrease in such shares affected without receipt of consideration by the Company. 
 (b) In the event of a dissolution or liquidation of the Company, or a merger or consolidation to which the Company is a constituent corporation, this
Plan shall terminate, unless the plan of merger, consolidation or reorganization provides otherwise, and all amounts which each Participant has paid towards the Purchase Price of Stock hereunder shall be refunded, without interest. 
 (c) The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger,
consolidation or other reorganization. 
 Section 13. Limitation on Stock Ownership.

 Notwithstanding any provision herein to the contrary, no Participant shall be permitted to elect to participate in the Plan (i) if
such Participant, immediately after his or her election to participate, would own stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any Company Affiliate, or
(ii) if under the terms of the Plan the rights of the Employee to purchase Stock under this Plan and all other qualified employee stock purchase plans of the Company or its Company Affiliates would accrue at a rate which exceeds twenty-five
thousand dollars ($25,000) of Fair Market Value of such Stock (determined at the time such right is granted) for each calendar year for which such right is outstanding at any time. For purposes of this Section, ownership of stock shall be determined
by the attribution rules of Section 424(d) of the Code, and Participants shall be considered to own any stock which they have a right to purchase under this or any other stock plan. 
 Section 14. No Rights as an Employee. 
 Nothing in the Plan shall be construed to give any person the right to remain in the employ of a Participating Company. Each Participating Company
reserves the right to terminate the employment of any person at any time and for any reason. 
 Section 15. Rights as a Stockholder. 
 A Participant shall have no rights as a
stockholder with respect to any shares he or she may have a right to purchase under the Plan until the date of issuance to the brokerage account designated by the Plan Administrator the shares of Stock issued pursuant to the Plan. 
 Section 16. Use of Funds. 
 All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate purpose, and the Company shall not be
obligated to segregate such payroll deductions in separate accounts. 
 Section 17. Amendment
or Termination of the Plan. 
 Except as otherwise provided herein, the Board of Directors shall have the right to amend, modify or
terminate the Plan at any time without notice. An amendment of the Plan shall be subject to shareholder approval only to the extent required by applicable laws, regulations or rules. The Plan shall terminate upon the earlier of (i) such date as
is determined by the Company in its sole discretion or (ii) the date on which all shares available for issuance under the Plan shall have been sold pursuant to purchase rights exercised under the Plan. 
 Section 18. Governing Law. 
 The Plan shall be governed by, and construed and interpreted in accordance with, the laws of the State of Delaware. 
 Section 19. Stockholder Approval. 
  

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 No purchase rights granted under the Plan shall be exercised, and no shares of Stock shall be issued
hereunder, until such time as (i) the Plan shall have been approved by the stockholders of the Company (such stockholder approval shall be prior to the first Date of Exercise of the Plan) and (ii) the Company shall have complied with all
applicable requirements of the Securities Act of 1933, as amended (including the registration of the shares of Stock issuable under the Plan on a Form S-8 registration statement filed with the Securities and Exchange Commission), all applicable
listing requirements of any securities exchange on which the Stock is listed for trading and all other applicable requirements established by law or regulation. In the event the Plan shall not have been approved by the stockholders of the Company
prior to the first Date of Exercise of the Plan, the Plan shall terminate and all purchase rights granted under the Plan shall be canceled and become null and void. 
  

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