Document:

EX-4.2

 Exhibit 4.2 

FLOATING RATE SENIOR NOTE DUE 2021 
 THIS
IS A SECURITY IN GLOBAL FORM WITHIN THE MEANING OF THE SENIOR INDENTURE REFERRED TO HEREINAFTER. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITARY OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE SENIOR INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

THIS SECURITY IS NOT A SAVINGS ACCOUNT, DEPOSIT OR OTHER OBLIGATION OF A BANK AND IS NOT INSURED BY THE FDIC OR ANY OTHER GOVERNMENTAL
AGENCY OR INSTRUMENTALITY. 
  

					
	CUSIP No. 14040H BX2	  		  	
	ISIN No. US14040HBX26	  		  	
	No. [                ]    	  		  	Principal Amount $[                ]

 CAPITAL ONE FINANCIAL CORPORATION 

FLOATING RATE SENIOR NOTES DUE 2021 

Capital One Financial Corporation, a Delaware corporation (the “Company”), for value received, hereby promises to pay to
Cede & Co. or registered assigns the principal sum of [                ] United States Dollars, at the Company’s office or agency for said purposes, on
February 16, 2021 (the “Stated Maturity”). 
 Interest Payment Dates: February 16, May 16, August 16 and
November 16 
 Regular Record Dates: The fifteenth calendar day (whether or not a business day) immediately preceding the relevant
Interest Payment Date 

 Reference is made to the further provisions set forth on the reverse hereof, including the
definitions of certain capitalized terms. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Security shall not be valid or obligatory until the certificate of authentication hereon shall have been duly signed by the Trustee
acting under the Senior Indenture. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: 
  

			
	CAPITAL ONE FINANCIAL CORPORATION

 
			
		
	By:	 	  

		 	Name:
		 	Title:

 
			
		
	Attest By:	 	  

		 	Name:
		 	Title:

 [Company’s Signature Page to Floating Rate Senior Note 2021] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities issued under the within-mentioned Senior Indenture. 

Dated: 
  

			
	 THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A., as Trustee
	 	

 
			
		
	By:	 	  

		 	Authorized Signatory

 [Trustee’s Signature Page to Floating Rate Senior Note 2021] 

 REVERSE OF SECURITY 

Capital One Financial Corporation 

Floating Rate Senior Notes Due 2021 

This Security is one of a duly authorized issue of debt securities of the Company, of the series hereinafter specified, all issued or to be
issued under a Senior Indenture, dated as of November 1, 1996 (the “Senior Indenture”), and duly executed and delivered by the Company to The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York
Trust Company, N.A., as successor to Harris Trust and Savings Bank, as trustee (hereinafter, the “Trustee”). Reference to the Senior Indenture and the Officers’ Certificate thereunder establishing the terms of this Security is
hereby made for a description of the respective rights and duties thereunder of the Trustee, the Company and the Holders of the Securities. This Security is one of a series designated as the
“Floating Rate Senior Note, Due    2021” of the Company (hereinafter called the “Notes”), issued under the Senior Indenture. Each Holder by accepting
a Note, agrees to be bound by all terms and provisions of the Senior Indenture, as amended from time to time, applicable to the Notes. 

Neither the Senior Indenture nor the Notes limit or otherwise restrict the amount of indebtedness which may be incurred or other securities
which may be issued by the Company. The Notes issued under the Senior Indenture are direct, unsecured obligations of the Company and will mature on February 16, 2021. The Notes rank on parity with all other unsecured, unsubordinated
indebtedness of the Company. 
 The Company promises to pay interest on the principal amount of this Security at an interest rate per annum
(the “Interest Rate”) from February 16, 2018 (the “Issue Date”) to but excluding May 16, 2018 (such period, the “Initial Interest Period”) at an initial rate (the “Initial Interest
Rate”) determined by the Calculation Agent equal to LIBOR (as defined below) on the second London Banking Day preceding the Issue Date plus 0.42% per annum, and thereafter at an Interest Rate that will be reset as described below to a rate
per annum equal to LIBOR plus 0.42% per annum, provided, that such Interest Rate shall not be less than zero. 
 The Company will pay
interest quarterly in arrears on February 16, May 16, August 16 and November 16 of each year (each, an “Interest Payment Date”), commencing on May 16, 2018. Interest on this Security will accrue from the
Issue Date or from the most recent Interest Payment Date, as the case may be, to which interest on the Notes has been paid or duly provided for, until payment of said principal sum has been made or duly provided for The Company will pay interest to
the Person in whose name this Security is registered at the close of business on the fifteenth calendar day (whether or not a business day) immediately preceding the relevant Interest Payment Date, except that the Company will pay the interest
payable at the Stated Maturity of this Security to the Person or Persons to whom principal is payable. The Company will pay interest in such coin or currency of the United States of America as at the time of payment shall be legal tender for the
payment of public and private debts. The Company will make payments in respect of Notes in global form (including principal and interest) to the Holder thereof or a nominee of the Holder, by wire transfer of immediately available funds as of the
close of business on the date such payments are due. 

 The Interest Rate on the Notes will be reset quarterly (each such quarter, an “Interest
Reset Period”). The first day of each Interest Reset Period is referred to as an “Interest Reset Date”. The Interest Reset Dates will be February 16, May 16, August 16 and November 16 of each year;
provided that the Interest Rate in effect from February 16, 2018 to, but excluding, the first Interest Reset Date will be the Initial Interest Rate. If any Interest Reset Date falls on a day that is not a Business Day, the Interest Reset
Date will be postponed to the next day that is a Business Day, except that if the next Business Day falls in the next succeeding calendar month, the Interest Reset Date will be the immediately preceding Business Day. 

The Calculation Agent for the Notes is The Bank of New York Mellon Trust Company, N.A. (the “Calculation Agent”). Upon the
request of the Holder of any Note, the Calculation Agent will provide such Holder the Interest Rate then in effect and, if determined, the interest Rate that will become effective on the next Interest Reset Date. 

The Calculation Agent will determine the Initial Interest Rate for the Notes by reference to LIBOR on the second London Banking Day preceding
the issue date and the Interest Rate for each succeeding Interest Reset Period by reference to LIBOR on the second London Banking Day preceding the applicable Interest Reset Date (each, an “Interest Determination Date”). 

“London Banking Day” means any day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

The Interest Rate for the Notes will be based on the three-month London interbank offered rate (“LIBOR”) determined by the
Calculation Agent as follows: 
 (i) As of an Interest Determination Date, LIBOR will be equal to the offered rate for deposits in U.S.
dollars having an index maturity of three months, in amounts of at least $1,000,000, as such rate appears on Bloomberg L.P.’s page “BBAM” at approximately 11:00 a.m., London time, on such Interest Determination Date, If on any
Interest Determination Date, such rate does not appear on Bloomberg L.P.’s page “BBAM” as of 11:00 a.m., London time, or if Bloomberg L.P.’s page “BBAM” is not available on such date, the Calculation Agent will obtain
such rate from “Reuters Page LIBOR01” (or any successor page). 
 (ii) no rate appears on “Reuters Page LIBOR01” or
Bloomberg L.P.’s page “BBAM” (or any successor page), then the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market, as selected by the Company, to provide
the Calculation Agent with its offered quotation for deposits in U.S. dollars for a period of three months, commencing on the related Interest Reset Date, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on
that Interest Determination Date and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. If at least two quotations arc provided, LIBOR determined on that Interest Determination Date will
be the arithmetic mean of those quotations. If fewer than two quotations are provided, LIBOR will be determined for the related Interest 

 
Reset Date as the arithmetic mean of the rates quoted at approximately 11:00 a.m., New York time, on that Interest Reset Date, by three major banks in New York, New York, as selected by the
Company, for loans in U.S. dollars to leading European banks, for a period of three months, commencing on the related Interest Reset Date, and in a principal amount that is representative of a single transaction in U.S. dollars in that market at
that time. If the banks so selected are not quoting as set forth above, LIBOR for that Interest Determination Date will remain equal to the LIBOR used to determine the Interest Rate for the immediately preceding Interest Reset Period, or, if there
was no preceding Interest Reset Period, the rate of interest payable will be the Initial Interest Rate. 
 Accrued interest on this Security
will be calculated by multiplying the principal amount of this Security by an accrued interest factor (the “Accrued Interest Factor”). The Accrued Interest Factor will be computed by adding the Interest Factors calculated for each
day in the period for which interest is being paid. The interest factor (“Interest Factor”) for each day will be computed by dividing the Interest Rate applicable to that day by 360. The Interest Rate in effect on any Interest Reset
Date will be the applicable rate as reset on that date. The Interest Rate applicable to any other day is the Interest Rate from the immediately preceding Interest Reset Date, or if none, the Initial Interest Rate. All percentages used in or
resulting from any calculation of the rate of interest on this Security will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point (with .000005% rounded up to .00001%), and all U.S. dollar amounts used in or
resulting from these calculations will be rounded to the nearest cent (with one-half cent rounded upward). 

Interest on the Notes will be paid on the basis of a 360-day year and the actual number of days
elapsed. If any Interest Payment Date (other than the maturity date) falls on a day that is not a Business Day, the Interest Payment Date will be postponed to the next succeeding Business Day, unless that Business Day falls in the next calendar
month, in which case the Interest Payment Date will be the immediately preceding Business Day, and interest will accrue to but excluding such Interest Payment Date. 

The Interest Rate will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law
of general application. 
 If the Company defaults in the payment of interest due on any Interest Payment Date after taking into account any
applicable grace period, such defaulted interest shall be paid as set forth in the Senior Indenture. 
 The Notes are not entitled to any
sinking fund. 
 The Notes are subject to defeasance pursuant to Section 402 of the Senior Indenture. 

The Notes are not convertible into common stock of the Company. 

At any time after January 16, 2021 (the “Redemption Date”), the Notes will be redeemable at the option of the Company,
upon not less than 10 nor more than 60 days’ prior notice given to the holders of the Notes to be redeemed, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus in each case accrued and unpaid interest to
the Redemption Date. 

 If money sufficient to pay the redemption price of and accrued interest on the Notes (or portions
thereof) to be redeemed on the Redemption Date is deposited with the Trustee on or before the Redemption Date and certain other conditions are satisfied, then on and after the Redemption Date, interest will cease to accrue on such Notes (or such
portion thereof) called for redemption and such Notes will cease to be outstanding. If the Redemption Date is not a business day, the Issuer will pay the redemption price on the next business day without any interest or other payment due to the
delay. 
 If fewer than all of the Notes are to be redeemed, the Depository will select the Notes for redemption on a pro rata basis, by lot
or by such other method in accordance with the procedures of the Depository. No Notes of $1,000 or less will be redeemed in part. 
 In case
an Event of Default shall have occurred and is continuing with respect to the Notes, the principal hereof may be declared, and upon such declaration shall become due and payable, in the manner, with the effect and subject to the conditions provided
in the Senior Indenture. The Senior Indenture provides that in certain circumstances such declaration and its consequences may be waived by the Holders of not less than a majority in aggregate principal amount of the Notes then Outstanding. However,
any such consent or waiver by the Holder shall not affect any subsequent default or impair any right consequent thereon. 
 The Senior
Indenture permits the Company and the Trustee, without the consent of the Holders of the Notes for certain situations and with the consent of not less than two-thirds of the Holders in aggregate principal
amount of the Outstanding Notes of each series affected by such supplemental indenture in other situations, to execute supplemental indentures adding to, modifying, or changing various provisions of, the Senior Indenture; provided that no
such supplemental indenture, without the consent of the Holder of each Outstanding Note affected thereby, shall (i) change the Stated Maturity of the principal of or any installment of interest on the Notes; (ii) reduce the principal
amount thereof or the rate of interest thereon, or adversely affect the right of repayment of any Holder; (iii) change the Place of Payment or Currency in which the principal of or interest on the Notes is payable, or impair the right to
institute suit for the enforcement of any payment on or after the Stated Maturity thereof; (iv) reduce the percentage in principal amount of the Outstanding Notes, the consent of whose Holders is required for any such supplemental indenture, or
the consent of whose Holders is required for any waiver (of compliance with certain provisions of the Senior Indenture or certain defaults thereunder and their consequences) provided for in the Senior Indenture, or reduce the requirements of
Section 1504 for quorum or voting; or (v) modify any of the provisions of Sections 902, 513 or 1008 of the Senior Indenture, except to increase any such percentage or provide that certain other provisions of the Senior Indenture cannot be
modified or waived without the consent of the Holder of each Outstanding Note affected thereby. 
 The Company may omit in any particular
instance to comply with any term, provision or condition set forth in Section 1005, 1006 or 1007 of the Senior Indenture, if before the time it would have to comply, the Holders of at least a majority in principal amount of the Outstanding

 
Notes, by act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall
extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or
condition shall remain in full force and effect. 
 No reference herein to the Senior Indenture and no provision of this Security or of the
Senior Indenture shall alter or impair the obligations of the Company, which are absolute and unconditional, to pay the principal of or interest on this Security at the respective times and at the rate herein prescribed. 

The Notes are issuable in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000. A Holder may
exchange the Notes for a like aggregate principal amount of Notes of other authorized denominations in the manner and subject to the limitations provided in the Senior Indenture. 

Upon due presentment for registration of transfer of the Notes at the office or agency for said purpose of the Company, a new Note or Notes of
authorized denominations, for a like aggregate principal amount, will be issued to the transferee as provided in the Senior Indenture. No service charge shall be made for any such transfer, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto. 
 Prior to due presentation of this Security for
registration of transfer, the Company, the Trustee, and any agent of the Company or the Trustee, may deem and treat the Holder hereof as the owner of this Security (whether or not any payment with respect to this Security shall be overdue), for the
purpose of receiving payment of principal of and (subject to the provisions of the Senior Indenture) interest hereon and for all other purposes whatsoever, whether or not any payment with respect to this Security shall be overdue, and neither the
Company, nor the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No recourse shall be
had for the payment of the principal of or interest on this Security, for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Senior Indenture or any indenture supplemental thereto, or because of the creation of
any indebtedness represented thereby, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation,
whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived
and released. 

 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK. 
 All terms used in this Security (and not otherwise defined in this Security) that are defined in the Senior Indenture shall
have the meanings assigned to them in the Senior Indenture.Exhibit 10.1

 

 

 

FGL Holdings

 

2017 Omnibus
INCENTIVE PLAN

 

 

 

 

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	1.   Establishment, Purpose and Types of Awards	1
	2.   Definitions	1
	3.   Administration	6
	4.   Stock Available Under the Plan; Maximum Awards	7
	5.   Participation	8
	6.   Stock Options	9
	7.   Restricted Stock and Restricted Stock Units	10
	8.   Stock Appreciation Rights	12
	9.   Unrestricted Stock and Dividend Equivalents	12
	10.   Performance Awards	13
	11.   Cash Awards	14
	12.   Tax Withholding	14
	13.   Transferability	15
	14.   Adjustments; Business Combinations	15
	15.   Termination and Amendment	16
	16.   Non-Guarantee of Employment	17
	17.   Termination of Relationship	17
	18.   Written Agreement	17
	19.   Non-Uniform Determinations	17
	20.   Limitation on Benefits	18
	21.   Compliance with Securities and Other Laws	18
	22.   Clawbacks; Forfeitures	18
	23.   No Trust or Fund Created	18
	24.   No Limit on Other Compensation Arrangements	19
	25.   No Restriction of Corporate Action	19
	26.   Construction; Governing Law	19
	27.   Plan Subject to Charter and Bylaws	20
	28.   Effective Date; Termination Date	20
	29.   Tax Consequences of Awards/Payments	20
	30.   No Fractional Shares	20
	31.   Severability	20

 

    	 	 i	 

     

    

 

		1.	Establishment, Purpose and Types of Awards

 

FGL Holdings (the “Company”)
hereby establishes the FGL Holdings 2017 Omnibus Incentive Plan (the “Plan”). The purpose of the Plan is to
promote the long-term growth and profitability of the Company by (i) providing incentives to individuals who provide services to
the Company in order to improve stockholder value and contribute to the growth and financial success of the Company, and (ii) enabling
the Company to attract, retain and reward the best available persons to provide services to the Company. The Plan permits the granting
of Awards in the form of Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Unrestricted Stock, Performance
Awards, Dividend Equivalents and Cash Awards, in each case as such term is defined below, and any combination of the foregoing.

 

		2.	Definitions

 

Under this Plan, except
where the context otherwise indicates, the following definitions apply:

 

“Affiliate”
means any entity, that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common
control with, the Company.

 

“Award”
means an Incentive Stock Option, Non-Statutory Stock Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right,
Unrestricted Stock, Performance Award, Dividend Equivalents, Cash Award, and any combination of the foregoing.

 

“Award Agreement”
means a written agreement between the Company and a Participant memorializing the terms and conditions of an Award granted pursuant
to the Plan.

 

“Board”
means the Board of Directors of the Company.

 

“Cash Award” means
an Award denominated in cash that is granted under Section 11 of the Plan.

 

“Cause”
means, with respect to a Participant’s Termination of Relationship: (i) if such Participant is at the time of termination
a party to a written employment or similar agreement with the Company or any of its Subsidiaries or Affiliates, which defines such
term, the meaning given in such employment or similar agreement; (ii) otherwise if such Participant is at the time of termination
a party to an Award Agreement, which was entered into under this Plan and defines such term, the meaning given in such Award Agreement;
and (iii) in all other cases, a Termination of Relationship by the Company or any of its Subsidiaries or Affiliates based on such
Participant’s (A) commission of a felony or a crime of moral turpitude (under the laws of the United States or any relevant
state, or a similar crime or offense under the applicable laws of any relevant foreign jurisdiction); (B) commission of a willful
and material act of dishonesty involving the Company or any of its Subsidiaries or Affiliates; (C) material non-curable breach
of the Participant’s obligations hereunder or any other agreement entered into between the Participant and the Company or
any of its Subsidiaries or Affiliates; (D) breach of the Company’s policies or procedures (or the policies or procedures
of any of its Subsidiaries or Affiliates that are applicable to the Participant) that causes material harm to the Company or any
of its Subsidiaries or Affiliates or any of their business reputations; (E) willful misconduct or gross negligence which causes
material harm to the or any of its Subsidiaries or Affiliates or any of their business reputations; (F) violation of a fiduciary
duty of loyalty to the Company or any of its Subsidiaries or Affiliates that causes material harm to the Company or any of its
Subsidiaries or Affiliates; (G) knowing attempt to obstruct or knowing failure to cooperate with any investigation authorized by
the Company or any of its Subsidiaries or Affiliates or any governmental or self-regulatory entity relating to the Company or any
of its Subsidiaries or Affiliates; (H) disqualification or bar by any governmental or self-regulatory authority or the Participant’s
loss of any governmental or self-regulatory license that is reasonably necessary for the Participant to perform his / her duties
to the Company or any of its Subsidiaries or Affiliates; (I) termination as a result of any directive has been made by any governmental
or self-regulatory authority to terminate the Participant; or (J) failure to cure a material breach of his or her obligations under
this Plan, an Award Agreement or any other agreement entered into between the Participant and the Company or any of its Subsidiaries
or Affiliates within 30 days after written notice of such breach. The Committee, in its absolute discretion, shall determine the
effect of all matters and questions relating to whether a Participant has been discharged for Cause.

 

    	 	 1	 

     

    

 

“Change in
Control” means, except to the extent otherwise provided in an Award Agreement, the first to occur of the following events
after the Grant Date: (i) the sale, transfer or other disposition of all or substantially all of the assets of the Company to one
or more persons or entities that are not, immediately prior to such sale, transfer or other disposition, an Affiliate; (ii) any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) becomes the
beneficial owner, directly or indirectly, of more than 50% or more of the voting power of the Stock of the Company (other than
the Company, any Subsidiary, any Affiliate; any employee benefit plan sponsored or maintained by the Company (or its Subsidiaries
or Affiliates); The Blackstone Group L.P., Blackstone Tactical Opportunities Fund II L.P., any affiliated investment funds; Fidelity
National Financial, Inc. or any of their respective affiliates); (iii) the merger or consolidation of the Company, as a result
of which persons who were stockholders of the Company immediately prior to such merger or consolidation, do not, immediately thereafter,
own, directly or indirectly, a majority of the combined voting power entitled to vote generally in the election of directors of
the merged or consolidated company; (iv) the liquidation or dissolution of the Company other than a liquidation or dissolution
for the purposes of effecting a corporate restructuring or reorganization as a result of which persons who were stockholders of
the Company immediately prior to such liquidation or dissolution continue to own immediately thereafter, directly or indirectly,
a majority of the combined voting power entitled to vote generally in the election of directors of the entity that owns, directly
or indirectly, substantially all of the assets of the Company following such transaction; or (v) a majority of the members of the
Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the
Board before the date of such appointment or election.

 

“Code”
means the Internal Revenue Code of 1986, as amended, and any regulations issued thereunder.  

 

“Committee”
means the Compensation Committee of the Board or such other committee or sub-committee of the Board as may be appointed pursuant
to Section 3 of the Plan to administer the Plan.

 

    	 	 2	 

     

    

 

“Committee
Delegate” means the Chief Executive Officer or other senior officer or employee of the Company to whom duties and powers
of the Board or Committee hereunder have been delegated pursuant to Section 3(b).

 

“Covered Employee”
has the same meaning as set forth in Section 162(m)(3) of the Code, as interpreted by IRS Notice 2007-49.

 

“Disabled”
or “Disability” means, unless an Award Agreement provides otherwise, as to any Participant who is party to an employment
or similar agreement with the Company or any of its Subsidiaries or Affiliates, “disability” as defined therein. In
the absence of such an employment or similar agreement, “Disability” shall mean a long-term disability as defined the
Company’s long-term disability policy or program in which the Participant participates, or if none, “Disability”
shall mean that the Participant is unable to perform substantially his or her required duties with the Company or any of its Subsidiaries
or Affiliates for a period of four (4) consecutive months or for any aggregate period of six (6) months in any twelve (12) month
period, all of which is as determined by the Committee in its sole discretion. Notwithstanding the foregoing, with respect to an
Incentive Stock Option, “Disability” means a Participant’s
disability within the meaning of Section 22(e)(3) of the Code.

 

“Dividend
Equivalent” means an award of rights in respect of dividend payments made with respect to Stock, as set forth in Sections
7(c) or 9(c).

 

“Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended, and any rules or regulations promulgated thereunder.

 

“Fair Market
Value” of the Stock for any purpose on a particular date means the closing price per share of the Stock on such date
as reported by such registered national securities exchange on which the Stock is listed, or, if the Stock is not listed on such
an exchange, as quoted on Nasdaq; provided, that, if there is no trading on such date, Fair Market Value shall be deemed to be
the closing price per share on the last preceding date on which the Stock was traded. If the Stock is not listed on any registered
national securities exchange or quoted on an established securities market, the Fair Market Value of the Stock shall be determined
in good faith by the Committee by the reasonable application of a reasonable valuation method consistent with Treas. Reg. §
1.409A-1(b)(5)(iv)(B). 

 

“Grant Date”
means the date on which the Committee formally acts to grant an Award to a Participant or such other later date as the Committee
shall so designate at the time of taking such formal action, provided that such Grant Date will not be earlier than the date of
such Committee action.

 

“Incentive
Stock Options” means an option to acquire shares of Stock that meets the requirements of Section 422 of the Code.

 

“Eligible
Director” means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the
Exchange Act; and (ii) an “independent director” under the rules of the Nasdaq or any other securities exchange or
inter-dealer quotation system on which the Stock is listed or quoted, or a person meeting any similar requirement under any successor
rule or regulation.  

 

    	 	 3	 

     

    

 

“Non-Statutory
Stock Options” means an option to acquire shares of Stock that does not meet the requirements of Section 422 of the Code.

 

“Option”
means either an Incentive Stock Option or a Non-Statutory Stock Option.

 

“Outside Director”
means a director who is an "outside director" within the meaning of Section 162(m) of the Code and Treasury Regulations
Section 1.162-27(e)(3) or any successor to such statute and regulation.

 

“Participant”
means any member of the Board, consultant, officer or employee of the Company or any Subsidiary or Affiliate, who is granted an
Award under the Plan.

 

“Performance
Award” means an Award under Section 10 hereof

 

“Performance
Measure” means one or more of the following objective performance criteria, or such other objective operating objectives,
selected by the Committee and set forth in an Award Agreement, to measure performance of the Company or any Subsidiary or Affiliate
or other business division, operating unit, operating segment, reporting segment or individual measures of such entity for a Performance
Period, whether in absolute or relative terms:

 

(1) Earnings per share,
economic value created, market share (actual or targeted growth), net income (before or after taxes), operating income (before
or after taxes), earnings before interest, taxes, depreciation and amortization (EBITDA), earnings before interest, taxes, depreciation,
amortization and restructuring costs (EBITDAR), adjusted net income after capital charge, return on assets (actual or targeted
growth), return on capital (actual or targeted growth), return on equity (actual or targeted growth), return on investment (actual
or targeted growth), revenue (actual or targeted growth), cash flow, operating margin (before or after taxes) (including pre-tax
title margin), profit measures (e.g., gross profit, net profit, operating profit, investment profit and/or underwriting profit),
investment income generated by underwriting or other operations or on the float from such operations, equity, or revenue, working
capital targets or improvements, share price, share price growth, total stockholder return, book value growth, and strategic business
criteria consisting of one or more objectives based on meeting specified market penetration goals, productivity measures, geographic
business expansion goals, capital expenditures, cost targets, customer satisfaction or employee satisfaction goals, goals relating
to merger synergies, management of employment practices and employee benefits, or supervision of litigation and information technology,
and goals relating to acquisitions or divestitures of Subsidiaries and/or other affiliates or joint ventures.

 

(2) Any one or more
of the aforementioned performance criteria may be used on an absolute or relative basis to measure the performance of the Company
and/or an Affiliate as a whole or any division, business unit or operational unit of the Company and/or an Affiliate or any combination
thereof, as the Committee may deem appropriate. The Committee also has the authority to provide for accelerated vesting of any
Award based on the achievement of Performance Measures pursuant to the performance criteria specified in this paragraph.

 

(3) The Committee is
authorized to adjust the Performance Measure, on an objective basis, (but only, if desired, to the extent the exercise of such
authority after such period would not cause the Performance Awards granted to any Participant for the Performance Period to fail
to qualify as "performance-based compensation" under Section 162(m) of the Code) based on the following events: asset
write-downs, litigation or claim judgments or settlements, gain or loss on the disposal of a business segment, unusual and/or infrequently
occurring events and transactions and the effects of changes in accounting principles or other laws or regulatory rules affecting
the Performance Measures.

 

    	 	 4	 

     

    

 

“Performance
Period” means a period set forth in an Award Agreement of not less than one fiscal quarter over which the achievement
of targets for Performance Measures is determined.

 

“Performance
Shares” mean Restricted Stock Units that are designated as Performance Awards pursuant to Section 10 of the Plan.

 

“Repricing”
means any of the following or other action that has the same effect: (i) lowering the exercise price of an Option after it is granted,
(ii) any other action that is treated as a repricing under generally accepted accounting principles, or (iii) canceling an Option
at a time when its exercise price exceeds the Fair Market Value of the underlying Stock in exchange for another Award, or other
equity of the Company, unless the cancellation and exchange occurs in connection with a merger, acquisition, spin-off, or similar
corporate transaction or prior shareholder approval has been provided.

 

“Restricted
Stock” and “Restricted Stock Units” means Awards under Section 7.

 

“Rule 16b-3”
means Rule 16b-3 as in effect under the Exchange Act on the effective date of the Plan, or any successor provision prescribing
conditions necessary to exempt the issuance of securities under the Plan (and further transactions in such securities) from Section
16(b) of the Exchange Act.

 

“Securities
Act” means the U.S. Securities Act of 1933, as amended and any rules or regulations promulgated thereunder.

 

“Separation
from Service” means separation from service (within the meaning of Section 409A(a)(2)(A)(i) of the Code).

 

“Stock”
means ordinary shares, of the Company, par value $.0001 per share.

 

“Stock Appreciation
Rights” or “SARs” means Awards under Section 8.

 

“Subsidiary”
and “Subsidiaries” means, with respect to the Company, only a company or companies, whether now or hereafter
existing, within the meaning of the definition of “subsidiary company” provided in Section 424(f) of the Code, or any
successor thereto of similar import.

 

“Termination
of Relationship” means, with respect to a Participant, the termination of the Participant’s services as an employee
or director of, or consultant to, the Company, its Subsidiaries or its Affiliates for any reason, including as a result of the
Subsidiary or Affiliate to which the Participant provides services no longer being a Subsidiary or Affiliate of the Company because
of a sale, divestiture or other disposition of such Subsidiary or Affiliate.

 

“Unrestricted
Stock” means Awards under Section 9.

 

    	 	 5	 

     

    

 

		3.	Administration

 

		(a)	Procedure.

 

(i)                
The Plan shall be administered by the Committee. The Committee shall have discretion regarding whether particular
Awards shall be intended to comply with the exemption requirements of Rule 16b-3 and/or Section 162(m) of the Code. If such exemption
requirements are intended to be satisfied with respect to particular Awards, the Committee shall designate a subcommittee, if necessary,
comprised only of Outside Directors and Eligible Directors, as applicable, to grant such Awards.

 

(ii)             
The Committee shall have at least two (2) members at all times. Except as specifically reserved to the Board under
the terms of the Plan, the Committee shall have full and final authority to operate, manage, interpret and administer the Plan
on behalf of the Company. Action by the Committee shall require the affirmative vote of a majority of all members thereof.

 

(b)              
Secondary Committees and Sub-Plans. The Board may, in its sole discretion, divide the duties and powers of
the Committee by establishing one or more secondary Committees to which certain duties and powers of the Committee hereunder are
delegated (each of which shall be regarded as a “Committee” under the Plan with respect to such duties and powers).
Additionally, if permitted by applicable law, the Board or Committee may delegate certain of the Committee’s duties and powers
hereunder to the Chief Executive Officer and/or to other senior officers or employee of the Company subject to such conditions
and limitations as the Board or Committee shall prescribe. The Committee shall also have the power to establish sub-plans (which
may be included as appendices to the Plan or the respective Award Agreements), which may constitute separate programs, for the
purpose of establishing programs which meet any special tax or regulatory requirements of jurisdictions other than the United States
and its subdivisions. Any such interpretations, rules, administration and sub-plans shall be consistent with the basic purposes
of the Plan.

 

(c)              
Powers of the Committee. The Committee shall have all the powers vested in it by the terms of the Plan, such
powers to include authority, in its sole and absolute discretion, to grant Awards under the Plan, prescribe Award Agreements evidencing
such Awards and establish programs for granting Awards. The Committee shall have full power and authority to take all other actions
necessary to carry out the purpose and intent of the Plan, including, but not limited to, the authority to:

 

(i)                
determine the Participants to whom, and the time or times at which, Awards shall be granted,

 

(ii)             
determine the types of Awards to be granted,

 

(iii)           
determine the number of shares of Stock to be covered by or used for reference purposes for each Award,

 

(iv)            
impose such terms, limitations, vesting schedules, restrictions and conditions upon any such Award as the Committee
shall deem appropriate, including without limitation establishing, in its discretion, Performance Measures that must be satisfied
before an Award vests and/or becomes payable, the term during which an Award is exercisable, the purchase price, if any, under
an Award and the period, if any, following a Termination of Relationship with the Company or any Subsidiary or Affiliate during
which the Award shall remain exercisable,

 

    	 	 6	 

     

    

 

(v)              
subject to the provisions of Section 409A of the Code, modify, extend or renew outstanding Awards, accept the surrender
of outstanding Awards and substitute new Awards, provided that no such action shall be taken with respect to any outstanding Award
that would materially, adversely affect the Participant without the Participant’s consent, or constitute a Repricing of an
Option without the approval of the holders of the Company’s voting securities,

 

(vi)            
subject to the provisions of Section 409A of the Code, accelerate the time in which an Award may be exercised or
in which an Award becomes payable and waive or accelerate the lapse, in whole or in part, of any restriction or condition with
respect to an Award, and

 

(vii)         
establish objectives and conditions, including targets for Performance Measures, if any, for earning Awards and determining
whether Awards will be paid after the end of a Performance Period.

 

The Committee shall
have full power and authority to administer and interpret the Plan and to adopt such rules, regulations, agreements, guidelines
and instruments for the administration of the Plan as the Committee deems necessary, desirable or appropriate in accordance with
the Bylaws of the Company.

 

(d)              
Limited Liability. To the maximum extent permitted by law, no member of the Board or Committee or a Committee
Delegate shall be liable for any action taken or decision made in good faith relating to the Plan or any Award thereunder.

 

(e)              
Indemnification. The members of the Board and Committee and any Committee Delegate shall be indemnified by
the Company in respect of all their activities under the Plan in accordance with the procedures and terms and conditions set forth
in the certificate of incorporation and bylaws of the Company as in effect from time to time. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s certificate
of incorporation and bylaws, as a matter of law, or otherwise.

 

(f)               
Effect of Committee’s Decision. All actions taken and decisions and determinations made by the Committee
or a Committee Delegate on all matters relating to the Plan pursuant to the powers vested in it hereunder shall be in the Committee’s
or Committee Delegate’s sole and absolute discretion and shall be conclusive and binding on all parties concerned, including
the Company, its stockholders, any Participants in the Plan and any other employee of the Company, and their respective successors
in interest.

 

    	 	 7	 

     

    

 

		4.	Stock Available Under the Plan; Maximum Awards

 

(a)              
Stock Available Under the Plan.

 

(i)                
Subject to adjustments as provided in Section 14 of the Plan, the aggregate number of shares of Stock with
respect to which Awards may be issued under the Plan shall not exceed seven percent (7%) of the Company’s outstanding shares
of Stock immediately following the consummation of the business combination between CF Corp. and Fidelity & Guaranty Life.
For the avoidance of doubt, to the extent that shares subject to an outstanding Award granted under the Plan are not issued or
delivered by reason of (i) the expiration, termination, cancellation or forfeiture of such Award or (ii) the settlement of such
Award in cash, then except to the extent prohibited by law or applicable listing or regulatory requirements, such shares shall
again be available for Awards under the Plan, other than for grants of Incentive Stock Options. Notwithstanding anything in this
Section 4(a)(i) to the contrary, shares subject to an Award may not be made available for issuance under this Plan if such
shares are: (i) shares used to pay the exercise price of an Option, (ii) shares delivered to or withheld by the Company to pay
withholding taxes related to an Award under the Plan or (iii) shares repurchased on the open market with the proceeds of an Option
exercise.

 

(ii)             
Shares to be delivered under this Plan shall be made available from authorized and unissued shares, authorized and
issued shares reacquired and held as treasury shares or otherwise, shares of Stock purchased on the open market or a combination
thereof.

 

(b)              
Maximum Awards to Participants. Subject to adjustment as provided in Section 14, the following Award
limitations shall apply with respect to each Participant: (a) the maximum number of shares of Stock with respect to which Options
or SARs may be granted during any fiscal year of the Company to any Participant shall be equal to two percent (2%) of the Company’s
outstanding shares of Stock immediately following the consummation of the business combination between CF Corp. and Fidelity &
Guaranty Life., (b) the maximum number of shares of Stock with respect to which Awards intended to qualify as Performance Awards
and denominated in shares of Stock that may be granted (counted at target amount granted) during any fiscal year of the Company
to any Participant shall be equal to two percent (2%) of the Company’s outstanding shares of Stock immediately following
the consummation of the business combination between CF Corp. and Fidelity & Guaranty Life., and (c) the maximum amount payable
to a Participant under any Cash Award intended to qualify as a Performance Award granted for any Performance Period shall not exceed
$25,000,000.

 

		5.	Participation

 

Participation in the
Plan shall be open to all officers, employees, directors and consultants of the Company, or of any Subsidiary or Affiliate of the
Company, as may be selected by the Committee from time to time. Notwithstanding the foregoing, participation in the Plan with respect
to Awards of Incentive Stock Options shall be limited to employees of the Company or of any Subsidiary of the Company.

 

Awards may be granted
to such Participants and for or with respect to such number of shares of Stock as the Committee shall determine, subject to the
limitations in Section 4 of the Plan. A grant of any type of Award made in any one year to a Participant shall neither guarantee
nor preclude a further grant of that or any other type of Award to such person in that year or subsequent years.

 

    	 	 8	 

     

    

 

		6.	Stock Options

 

Subject to the other
applicable provisions of the Plan, the Committee may from time to time grant to Participants Awards of Non-Statutory Stock Options
and/or Incentive Stock Options. The Options granted under the Plan shall be subject to the following terms and conditions.

 

(a)              
Grant of Option. The grant of an Option shall be evidenced by an Award Agreement, executed by the Company
and the Participant, stating the number of shares of Stock subject to the Option evidenced thereby, the exercise price and the
terms and conditions of such Option, in such form as the Committee may from time to time determine.

 

(b)              
Exercise Price. The price per share payable upon the exercise of each Option shall be determined by the Committee
but shall be no less than one hundred percent (100%) of the Fair Market Value of the Stock on the Grant Date.

 

(c)              
Payment. Options may be exercised in whole or in part by payment of the exercise price of the Stock to be
acquired in accordance with the provisions of the Award Agreement, and/or such rules and regulations as the Committee may have
prescribed, and/or such determinations, orders, or decisions as the Committee may have made.

 

Payment may be made
in cash (or cash equivalents acceptable to the Committee) or, if provided in the Award Agreement and permitted by applicable law,
in shares of Stock which have been held by Participant or which would otherwise be issuable to Participant on exercise, or a combination
of cash and such Stock, or by such other means as the Committee may prescribe. The Fair Market Value of Stock delivered on exercise
of Options shall be determined as of the date of exercise.

 

The Committee, subject
to such limitations as it may determine, may authorize payment of the exercise price, in whole or in part, by delivery of a properly
executed exercise notice, together with irrevocable instructions, to: (i) a brokerage firm to deliver promptly to the Company the
aggregate amount of sale or loan proceeds to pay the exercise price and any withholding tax obligations that may arise in connection
with the exercise, and (ii) the Company to deliver the certificates for such purchased Stock directly to such brokerage firm.

 

(d)              
Term of Options. The term during which each Option may be exercised shall be determined by the Committee;
provided, however, that in no event shall an Option be exercisable more than ten (10) years from the date it is granted. Prior
to the exercise of the Option and delivery of the Stock certificates represented thereby, the Participant shall have none of the
rights of a stockholder with respect to any Stock represented by an outstanding stock option.

 

(e)              
Restrictions on Incentive Stock Options. Incentive Stock Option Awards granted under the Plan shall comply
in all respects with Section 422 of the Code and, as such, shall meet the following additional requirements:

 

(i)                
Grant Date. An Incentive Stock Option must be granted within ten (10) years of the earlier of the Plan’s
adoption by the Board or approval by the Company’s stockholders.

 

    	 	 9	 

     

    

 

(ii)             
Exercise Price and Term. The exercise price of an Incentive Stock Option shall not be less than one hundred
percent (100%) of the Fair Market Value of the Stock on the date the Incentive Stock Option is granted and the term of the Incentive
Stock Option shall not exceed ten (10) years. Also, the exercise price of any Incentive Stock Option granted to a Participant who
owns (within the meaning of Section 422(b)(6) of the Code, after the application of the attribution rules in Section 424(d) of
the Code) more than ten percent (10%) of the total combined voting power of all classes of shares of Stock of the Company or any
Subsidiary of the Company shall be not less than one hundred ten percent (110%) of the Fair Market Value of the Stock on the grant
date and the term of such Incentive Stock Option shall not exceed five (5) years.

 

(iii)           
Maximum Grant. The aggregate Fair Market Value (determined as of the Grant Date) of Stock of the Company with
respect to which all Incentive Stock Options first become exercisable by any Participant in any calendar year under this or any
other plan of the Company and any Subsidiaries may not exceed One Hundred Thousand Dollars ($100,000) or such other amount as may
be permitted from time to time under Section 422 of the Code. To the extent that such aggregate Fair Market Value shall exceed
One Hundred Thousand Dollars ($100,000), or other applicable amount, such portion of the Incentive Stock Option shall be treated
as a Non-Statutory Stock Option. In such case, the Company may designate the shares of Stock that are to be treated as Stock acquired
pursuant to the exercise of an Incentive Stock Option.

 

(iv)            
Participant. Incentive Stock Options shall only be issued to employees of the Company or of a Subsidiary of
the Company.

 

(v)              
Designation. No stock option shall be an Incentive Stock Option unless so designated by the Committee at the
time of grant or in the Award Agreement evidencing such intent.

 

(vi)            
Stockholder Approval. No Option issued under the Plan shall be an Incentive Stock Option unless the Plan is
approved by the stockholders of the Company within twelve (12) months of its adoption by the Board in accordance with the Bylaws
of the Company and governing law relating to such matters.

 

(f)               
Other Terms and Conditions. Award Agreements for any Option may contain such other provisions, not inconsistent
with the provisions of the Plan, as the Committee shall determine appropriate from time to time.

 

		7.	Restricted Stock and Restricted Stock Units

 

(a)              
In General. Subject to the other applicable provisions of the Plan and applicable law, the Committee may at
any time and from time to time grant Restricted Stock or Restricted Stock Units to Participants, in such amounts and subject to
such vesting conditions, other restrictions and conditions for the lapse of restrictions as it determines. Unless determined otherwise
by the Committee, Participants receiving Restricted Stock or Restricted Stock Units are not required to pay the Company cash consideration
to receive the corresponding Stock (except as may be required for applicable tax withholding).

 

    	 	 10	 

     

    

 

(b)              
Vesting Conditions and Other Restrictions. Each Award for Restricted Stock and Restricted Stock Units shall
be evidenced by an Award Agreement that specifies the applicable vesting conditions and other restrictions, if any, on such Award,
the duration of such restrictions, and the time or times at which such restrictions shall lapse with respect to all or a specified
number of the shares of Stock that are part of the Award.

 

(c)              
Stock Issuance and Stockholder Rights.

 

(i)                
Restricted Stock. Stock certificates with respect to Stock granted pursuant to a Restricted Stock Award shall
be issued, and/or Stock shall be registered, in the Participant’s name at the time of grant of the Restricted Stock Award,
subject to forfeiture if the Restricted Stock does not vest or other restrictions do not lapse. Any Stock certificates shall bear
an appropriate legend with respect to the restrictions applicable to such Restricted Stock Award and the Participant will be required
to deposit the certificates with the Company during the period of any restriction thereon and to execute a blank stock power or
other instrument of transfer therefor. Except as otherwise provided by the Committee, during the period of restriction following
issuance of Restricted Stock certificates, the Participant shall have all of the rights of a holder of Stock, including but not
limited to the rights to receive dividends (or amounts equivalent to dividends) and to vote with respect to the Restricted Stock.
The Committee, in its discretion, may provide in the Award Agreement that any dividends or distributions paid with respect to Stock
subject to the unvested portion of a Restricted Stock Award will be subject to the same restrictions as the Restricted Stock to
which such dividends or distributions relate.

 

(ii)             
Restricted Stock Units. For the shares of Stock subject to a Restricted Stock Unit that the Committee elects
to settle in stock, Stock shall be registered in the Participant’s name upon vesting and lapse of any other restrictions
with respect to the issuance of Stock under such Award. The Participant will not be entitled to vote such Stock or to any of the
other rights of stockholders during the period prior to the registration of the Stock. An Award of Restricted Stock Units may provide
the Participant with the right to receive Dividend Equivalents while the Award is outstanding, and an Award may be settled in cash
or Stock, all as determined by the Committee and set forth in the Award Agreement. Unless otherwise determined by the Committee
with respect to a particular Award (and set forth in the Award Agreement), each outstanding Restricted Stock Unit that is entitled
to receive Dividend Equivalents while the Award is outstanding shall accrue such Dividend Equivalents, deferred as equivalent amounts
of additional Restricted Stock Units, and such amounts shall be paid only when and if the Restricted Stock Unit (on which such
Dividend Equivalents were accrued) vests and becomes payable. If the Committee determines to provide for the current payment of
Dividend Equivalents with respect to Stock subject to the Award, the terms and conditions of such payment shall be set forth in
the Award Agreement and shall be structured in compliance with Section 409A of the Code. To the extent that a Restricted Stock
Unit does not vest or is otherwise forfeited, any accrued and unpaid Dividend Equivalents shall be forfeited. Amounts payable or
distributable (including Dividend Equivalents that are payable with respect to such Restricted Stock Units) shall be made or distributed
within thirty (30) days after the Participant’s rights to such payments vest. In the event the Award provides for partial
vesting over multiple years, amounts payable or distributable with respect to the Award (including Dividend Equivalents that are
payable with respect to such Restricted Stock Units) shall be made or distributed within thirty (30) days after vesting occurs,
except as otherwise provided in an Award Agreement.

 

    	 	 11	 

     

    

 

		8.	Stock Appreciation Rights

 

(a)              
Award of Stock Appreciation Rights. Subject to the other applicable provisions of the Plan, the Committee
may at any time and from time to time grant Stock Appreciation Rights (“SARs”) to Participants, either on a
free-standing basis (without regard to or in addition to the grant of an Option) or on a tandem basis (related to the grant of
an underlying Option), as it determines. SARs granted in tandem with or in addition to an Option may be granted at the same time
as the stock option; provided, however, that a tandem SAR shall not be granted with respect to any outstanding Incentive Stock
Option Award without the consent of the Participant. SARs shall be evidenced by Award Agreements, executed by the Company and the
Participant, stating the number of shares of Stock subject to the SAR evidenced thereby and the terms and conditions of such SAR,
in such form as the Committee may from time to time determine. The term during which each SAR may be exercised shall be determined
by the Committee. In no event shall a SAR be exercisable more than ten (10) years from the date it is granted. The Participant
shall have none of the rights of a stockholder with respect to any Stock represented by a SAR prior to exercise of the SAR.

 

(b)              
Restrictions of Tandem SARs. No Incentive Stock Option may be surrendered in connection with the exercise
of a tandem SAR unless the Fair Market Value of the Stock subject to the Incentive Stock Option is greater than the exercise price
for such Incentive Stock Option. SARs granted in tandem with Options shall be exercisable only to the same extent and subject to
the same conditions as the Options related thereto are exercisable. The Committee may, in its discretion, prescribe additional
conditions to the exercise of any such tandem SAR.

 

(c)              
Amount of Payment upon Exercise of SARs. A SAR shall entitle the Participant to receive, subject to the provisions
of the Plan and the Award Agreement, a payment having an aggregate value equal to the product of (i) the excess of (A) the Fair
Market Value of one share of Stock on the exercise date over (B) the base price per share of Stock specified in the Award Agreement,
times (ii) the number of shares of Stock specified by the SAR, or portion thereof, that is exercised. The base price per share
specified in the Award Agreement shall not be less than the Fair Market Value of a share of Stock on the Grant Date. In the case
of exercise of a tandem SAR, such payment shall be made in exchange for the surrender of the unexercised related Option (or any
portion or portions thereof which the Participant from time to time determines to surrender for this purpose).

 

(d)              
Form of Payment upon Exercise of SARs. Payment by the Company of the amount receivable upon any exercise of
a SAR shall be made by the delivery of the number of whole shares of Stock determined by dividing the amount payable under the
SAR by the Fair Market Value of a share of Stock on the exercise date, or in cash. The amount equivalent in value to any fractional
share will be paid out currently in cash.

 

		9.	Unrestricted Stock and Dividend Equivalents

 

(a)              
Grant or Sale of Unrestricted Stock. Subject to the limitations contained in Section 4, the Committee
in its discretion may grant or sell to any Participant shares of Stock free of any restrictions under the Plan (“Unrestricted
Stock”) at a purchase price determined by the Committee. Shares of Unrestricted Stock may be granted or sold as described
in the preceding sentence in respect of past services or other valid consideration.

 

    	 	 12	 

     

    

 

(b)              
Restrictions on Transfers. The right to receive Unrestricted Stock may not be sold, assigned, transferred,
pledged or otherwise encumbered, other than by will or the laws of descent and distribution.

 

(c)              
Dividend Equivalents. The Committee may, in its sole discretion, award dividend equivalents in connection
with the grant of other types of Awards hereunder, or as separate Awards hereunder, subject to the terms of the applicable Award
Agreement.

 

		10.	Performance Awards

 

(a)              
In General. The Committee, in its discretion, may establish Performance Measures for selected Participants
and authorize the granting, vesting, payment and/or delivery of Performance Awards in the form of Options, Restricted Stock, Restricted
Stock Units (which shall be referred to as “Performance Shares” if granted under this Section 10), Stock Appreciation
Rights, Unrestricted Stock and/or Cash Awards to such Participants upon achievement of such targets for Performance Measures during
a Performance Period. The Committee, in its discretion, shall determine the Participants eligible for Performance Awards, the targets
for Performance Measures to be achieved during each Performance Period, and the type, amount, and terms and conditions of any Performance
Awards. Performance Awards may be granted either alone or in addition to other Awards made under the Plan. Notwithstanding any
contrary provision of the Plan, in the case of an Award intended to meet the performance-based compensation exception under Section
162(m) of the Code, the Committee may not exercise discretion to increase the amount of the Award that will be paid or vested.

 

(b)              
Covered Employee Targets. In connection with any Performance Awards granted to a Covered Employee which are
intended to meet the performance-based compensation exception under Section 162(m) of the Code, the Committee shall (i) establish
in the applicable Award Agreement the specific targets relative to the Performance Measures which must be attained before the respective
Performance Award is granted, vests, or is otherwise paid or delivered, (ii) provide in the applicable Award Agreement the method
for computing the portion of the Performance Award which shall be granted, vested, paid and/or delivered if the target or targets
are attained in full or part, and (iii) at the end of the relevant Performance Period and prior to any such grant vesting or being
paid or delivered certify the extent to which the applicable target or targets were achieved and whether any other material terms
were in fact satisfied. The specific targets and the method for computing the portion of such Performance Award which shall be
granted, vested, paid or delivered to any Covered Employee shall be established by the Committee prior to the earlier to occur
of (A) ninety (90) days after the commencement of the Performance Period to which the Performance Measure applies and (B) the lapse
of twenty-five percent (25%) of the Performance Period and in any event while the outcome is substantially uncertain. In interpreting
Plan provisions applicable to Performance Measures and Performance Awards which are intended to meet the performance-based compensation
exception under Section 162(m) of the Code, it is the intent of the Plan to conform with the standards of Section 162(m) of the
Code and Treasury Regulations Section 1.162-27(e)(2), and the Committee in interpreting the Plan shall be guided by such provisions.
In the event that applicable tax and/or securities laws change to permit the Committee discretion to alter the Performance Measures
without obtaining shareholder approval of such changes, the Committee shall have sole discretion to make such changes without obtaining
shareholder approval.

 

    	 	 13	 

     

    

 

(c)              
Nonexclusive Provision. Notwithstanding this Section 10, the Committee may authorize the granting,
vesting, payment and/or delivery of Performance Awards based on performance measures other than the Performance Measures and performance
periods other than the Performance Periods to employees who are not Covered Employees or to Covered Employees to the extent such
Awards are not intended to meet the performance-based compensation exception under Section 162(m) of the Code and in such case
waive the deadlines for establishing performance measures under Subsection (b) above. Moreover, to the extent applicable, an Award
may be structured to comply with the transitional relief described in Section 1.162-27(f)(4) of the Treasury Regulations, to the
extent such relief as available.

 

		11.	Cash Awards

 

Subject to the other
applicable provisions of the Plan and applicable law, the Committee may at any time and from time to time grant Cash Awards to
Participants, in such amounts and subject to such vesting conditions, other restrictions and conditions for the lapse of restrictions
as it determines. Each Cash Award shall be evidenced by an Award Agreement that specifies the applicable vesting conditions and
other restrictions, if any, on such Award, payment terms, the duration of such restrictions, and the time or times at which such
restrictions shall lapse. Unless otherwise determined by the Committee and set forth in an Award Agreement, all earned and vested
Cash Awards shall be paid in the year following the end of the Performance Period, provided that payment is no later than March
15th of such year.

 

		12.	Tax Withholding

 

(a)              
Withholding by the Company; Payment by Participant. The Company and its Subsidiaries and Affiliates shall,
to the extent permitted by law, have the right to deduct any Federal, state or local taxes of any kind required by law to be withheld
from any payment of any kind due to the Participant under the Plan or with respect to any compensation owed by the Company or any
of its Subsidiaries to Affiliates to the Participant. Each Participant shall, no later than the date as of which the value of an
Award or of any Stock or other amounts received thereunder first becomes includable in the gross income of the Participant for
Federal income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee regarding payment of any Federal,
state or local taxes of any kind required by law to be withheld with respect to such income.

 

(b)              
Payment in Shares. A Participant may elect, with the consent of the Committee, to have such tax withholding
obligation satisfied, in whole or in part, by (i) authorizing the Company to withhold from shares of Stock to be issued pursuant
to an Award a number of shares with an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy
up to the maximum withholding amount due with respect to such Award, (ii) transferring to the Company shares of Stock that have
been purchased by the Participant on the open market or have been beneficially owned by the Participant and are not then subject
to restrictions under any Company plan and with an aggregate Fair Market Value (as of the date the withholding is effected) that
would satisfy the withholding amount due, or (iii) any combination thereof subject to compliance with any applicable securities
laws. The Award Agreement may also provide that all tax withholding obligations will be satisfied, in whole or in part, by the
Company withholding from shares of Stock to be issued pursuant to an Award that number of shares having an aggregate Fair Market
Value (as of the date the withholding is effected) required to satisfy up to the maximum withholding amounts due with respect to
such Award.

 

    	 	 14	 

     

    

 

(c)              
Notice of Disqualifying Disposition. Each holder of an Incentive Stock Option shall agree to notify the Company
in writing immediately after making a disqualifying disposition (as defined in Section 421(b) of the Code) of any Stock purchased
upon exercise of an Incentive Stock Option.

 

		13.	Transferability

 

No Option, SAR or unvested
Award granted under the Plan shall be transferable by a Participant otherwise than by will or the laws of descent and distribution.
Unless otherwise determined by the Committee in accordance with the provisions of the immediately preceding sentence, an Option
or SAR may be exercised during the lifetime of the Participant only by the Participant or, during the period the Participant is
under a legal disability, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, with the
Committee’s permission expressed in the Award Agreement or otherwise, any Award may, in the Committee’s sole discretion,
be transferable by gift or domestic relations order to (i) the Participant’s child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, daughter-in-law, son-in-law, brother-in-law
or sister-in-law, including adoptive relationships (such persons, “Family Members”), (ii) a corporation, partnership,
limited liability company or other business entity whose only stockholders, partners or members, as applicable are the Participant
and/or Family Members, or (iii) a trust in which the Participant and/or Family Members have all of the beneficial interests, and
subsequent to any such transfer any Award may be exercised by any such transferee. Notwithstanding any of the preceding in this
Section 13, under no circumstances will a Participant be permitted to transfer an Option to a third-party financial institution
without prior stockholder approval.

 

		14.	Adjustments; Business Combinations

 

(a)              
Adjustments. In the event of a reclassification, recapitalization, stock split, reverse stock split, stock
dividend, combination of shares or other similar event, the maximum number and kind of shares reserved for issuance or with respect
to which Awards may be granted under the Plan as provided in Section 4 shall be adjusted to reflect such event, and the
Committee shall make such adjustments as it deems appropriate and equitable in the number, kind and price of shares covered by
outstanding Awards made under the Plan, and in any other matters that relate to Awards and that are affected by the changes in
the shares referred to above.

 

(b)              
Change in Control. In the event of any proposed Change in Control, the Committee shall take such action as
it deems appropriate and equitable to effectuate the purposes of this Plan and to protect the Participants, which action may include,
without limitation, any one or more of the following to the extent permitted by Section 409A of the Code: (i) acceleration of vesting;
(ii) acceleration or change of the exercise and/or expiration dates of any Award to require that settlement be made, if at all,
prior to the Change in Control; (iii) cancellation of any Award upon payment to the holder in cash of the Fair Market Value of
the Stock subject to such Award as of the date of (and, to the extent applicable, as established for purposes of) the Change in
Control, less the aggregate exercise price, if any, of the Award; and (iv) in any case where equity securities of another entity
are proposed to be delivered in exchange for or with respect to Stock of the Company, arrangements to have such other entity replace
the Awards granted hereunder with awards with respect to such other securities, with appropriate adjustments in the number of shares
subject to, and the exercise prices under, the Award. In the case of any Option or Stock Appreciation Right with an exercise price
or base price that equals or exceeds the price to paid for a share of Stock in connection with the Change in Control, the Committee
may cancel the Option or Stock Appreciation Right without the payment of consideration therefor.

 

    	 	 15	 

     

    

 

(c)              
Dissolution and Liquidation. In the event the Company dissolves and liquidates (other than pursuant to a plan
of merger or reorganization), then, to the extent permitted under Section 409A of the Code, each Participant shall have the right
to exercise his or her vested, outstanding Options and Stock Appreciation Rights and to require payment in cash or registration
in Participant’s name of the Stock (as elected by the Committee), under any vested, outstanding Restricted Stock Unit Awards,
at any time up to the effective date of such liquidation and dissolution, upon which date all Awards under the Plan shall terminate.

 

(d)              
Other Adjustments. The Committee is authorized to make adjustments in the terms and conditions of, and the
criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described
in the preceding paragraphs of this Section 14) affecting the Company, or the financial statements of the Company or any
Subsidiary or Affiliate, or of changes in applicable laws, regulations or accounting principles, whenever the Committee determines
that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended
to be made available under the Plan.

 

Except as hereinbefore
expressly provided, issuance by the Company of stock of any class or securities convertible into stock of any class, for cash,
property, labor or services, upon direct sale, upon the exercise of rights or warranty to subscribe therefor, or upon conversion
of stock or obligations of the Company convertible into such stock or other securities, and in any case whether or not for fair
value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject
to Awards theretofore granted or the purchase price per share of Stock subject to Awards.

 

		15.	Termination and Amendment

 

(a)              
Amendment or Termination by the Board. The Board, without further approval of the stockholders, may amend
or terminate the Plan or any portion thereof at any time, except that no amendment shall become effective without prior approval
of the stockholders of the Company to increase the number of shares of Stock subject to the Plan or if stockholder approval is
required under the terms of the Plan or is necessary to comply with any tax or regulatory requirement or rule of any exchange or
national automated quotation system upon which the Stock is listed or quoted (including for this purpose stockholder approval that
is required for continued compliance with Rule 16b-3) or stockholder approval that is required to enable the Committee to grant
Incentive Stock Options pursuant to the Plan.

 

    	 	 16	 

     

    

 

(b)              
Amendments by the Committee. The Committee shall be authorized to make minor or administrative amendments
to the Plan as well as amendments to the Plan that may be dictated by requirements of U.S. federal or state laws applicable to
the Company or that may be authorized or made desirable by such laws. The Committee may amend any outstanding Award in any manner
as provided in Section 3(c) and to the extent that the Committee would have had the authority to make such Award as so amended.

 

(c)              
Approval of Participants. No amendment to the Plan or any Award may be made that would materially adversely
affect any outstanding Award previously made under the Plan without the written approval of the Participant.

 

		16.	Non-Guarantee of Employment

 

Nothing in the Plan
or in any Award Agreement thereunder shall confer any right on an employee to continue in the employ of the Company or any Subsidiary
or Affiliate or shall interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate an employee
at any time.

 

		17.	Termination of Relationship

 

For purposes of maintaining
a Participant’s continuous status as an employee and accrual of rights under any Award, transfer of an employee among the
Company and the Company’s Subsidiaries or Affiliates shall not be considered a Termination of Relationship. Nor shall it
be considered a Termination of Relationship for such purposes if an employee is placed on military or sick leave or such other
leave of absence that is considered as continuing intact the employment relationship; in such a case, the employment relationship
shall be continued until the date when an employee’s right to reemployment shall no longer be guaranteed either by law or
contract. In the case of non-employee directors or consultants, references in this Plan or an Award to “termination of employment”
or other similar terms shall be deemed to refer to a cessation of the service provider relationship.

 

		18.	Written Agreement

 

Each Award Agreement
entered into between the Company and a Participant with respect to an Award granted under the Plan shall incorporate the terms
of this Plan and shall contain such provisions, consistent with the provisions of the Plan, as may be established by the Committee.

 

		19.	Non-Uniform Determinations

 

The Committee’s
determinations under the Plan (including without limitation determinations of the persons to receive Awards, the form, amount and
time of such Awards, the terms and provisions of such Awards and the agreements evidencing same) need not be uniform and may be
made by it selectively among persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons
are similarly situated.

 

    	 	 17	 

     

    

 

		20.	Limitation on Benefits

 

With respect to persons
subject to Section 16 of the Exchange Act, transactions under this Plan are intended to comply with all applicable conditions of
Rule 16b-3. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and
void, to the extent permitted by law and deemed advisable by the Committee.

 

		21.	Compliance with Securities and Other Laws

 

Any Stock certificates
for shares issued pursuant to this Plan may bear a legend restricting transferability of the Stock unless such shares are registered
or an exemption from registration is available under the Securities Act and applicable securities laws of the states of the U.S.
The Company may notify its transfer agent to stop any transfer of Stock not made in compliance with these restrictions. Stock shall
not be issued with respect to an Award granted under the Plan unless the exercise of such Award and the issuance and delivery of
Stock certificates for such shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation,
the Securities Act, the Exchange Act, the rules and regulations promulgated thereunder and the requirements of any national securities
exchange or Nasdaq System upon which the Stock may then be listed or quoted, and shall be further subject to the approval of counsel
for the Company with respect to such compliance to the extent such approval is sought by the Committee.

 

		22.	Clawbacks; Forfeitures

 

Notwithstanding any
other provisions in this Plan, any Award which is subject to recovery under any company policy or arrangement, law, government
regulation or stock exchange listing requirement, will be subject to cancellation, deductions, forfeitures and clawbacks as may
be required to be made pursuant to such policy or arrangement, law, government regulation or stock exchange listing requirement
(including on a retroactive basis). The Committee may also provide in an Award Agreement that if the Participant receives any amount
in excess of what the Participant should have received under the terms of the Award for any reason (including without limitation
by reason of a financial restatement, mistake in calculations or other administrative error), all as determined by the Committee
in its sole discretion, then the Participant shall be required to promptly repay any such excess amount to the Company.

 

		23.	No Trust or Fund Created

 

Neither the Plan nor
any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company
and a Participant or any other person. With respect to any transfer or payment not yet made to a Participant pursuant to an Award,
the obligation of the Company shall be interpreted solely as an unfunded contractual obligation to make such transfer or payment
in the manner and under the conditions prescribed under the written instrument evidencing the Award. Any shares of Stock or other
assets set aside with respect to an Award shall be subject to the claims of the Company’s general creditors, and no person
other than the Company shall, by virtue of an Award, have any interest in such shares or assets. In its sole discretion, the Committee
may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments
with respect to Awards hereunder, provided that the existence of such trusts or other arrangements is consistent with the provisions
of this Section 23. In no event shall any assets set aside (directly or indirectly) with respect to an Award be located
or transferred outside the United States.

 

    	 	 18	 

     

    

 

		24.	No Limit on Other Compensation Arrangements

 

Nothing contained in
the Plan shall prevent the Company or any Subsidiary or Affiliate from adopting or continuing in effect other compensation arrangements
(whether such arrangements be generally applicable or applicable only in specific cases), including without limitation the granting
of Incentive Stock Options, Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Dividend Equivalents,
Unrestricted Stock Units or Cash Awards otherwise than under the Plan.

 

		25.	No Restriction of Corporate Action

 

Nothing contained in
the Plan shall be construed to limit or impair the power of the Company or any Subsidiary or Affiliate to make adjustments, reclassifications,
reorganizations, or changes in its capital or business structure, or to merge or consolidate, liquidate, sell or transfer all or
any part of its business or assets or, except as otherwise provided herein, or in an Award Agreement, to take other actions which
it deems to be necessary or appropriate. No employee, beneficiary or other person shall have any claim against the Company or any
Subsidiary or Affiliate as a result of such action.

 

		26.	Construction; Governing Law

 

The Plan is generally
intended to constitute an equity compensation plan that does not provide for the deferral of compensation subject to Section 409A
of the Code and, if any provision of the Plan is subject to more than one interpretation or construction, such ambiguity shall
be resolved in favor of that interpretation or construction which is consistent with the Plan not being subject to the provisions
of Section 409A. To the extent any Awards under the Plan are subject to Section 409A, then no amount of “deferred compensation”
(within the meaning of Section 409A of the Code) shall be paid earlier than the earliest date permitted under Section 409A of the
Code. To the extent that an Award is subject to the provisions of Section 409A of the Code, the provisions of the Plan relating
to such Awards, including all distributions thereunder, are intended to comply with the provisions of Section 409A of the Code
and if any such provision is subject to more than one interpretation or construction, such ambiguity shall be resolved in favor
of the interpretation or construction which is consistent with the Plan complying with the provisions of Section 409A. To the extent
an amount subject to Section 409A is payable upon Termination of Relationship, such payment shall be made only if such Termination
of Relationship constitutes a Separation from Service. To the extent an amount referred to in the preceding sentence is payable
to a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code), such payment shall be delayed
as set forth in such Code section. Any Award subject to Section 409A that is payable in installments shall be treated as a right
to receive a series of separate payments under Section 409A and the regulations promulgated thereunder.

 

    	 	 19	 

     

    

 

The validity, construction
and effect of the Plan, of Award Agreements entered into pursuant to the Plan, and of any rules, regulations, determinations or
decisions made by the Board or Committee relating to the Plan or such Award Agreements, and the rights of any and all persons having
or claiming to have any interest therein or thereunder, shall be determined in accordance with applicable federal laws and the
laws of the State of Delaware (without regard to its choice of law provisions).

 

		27.	Plan Subject to Charter and Bylaws

 

This Plan is subject
to the Certificate of Incorporation and Bylaws of the Company, as they may be in effect from time to time.

 

		28.	Effective Date; Termination Date

 

The Plan is effective
as of the date on which the Plan is approved by the stockholders of the Company. No Award shall be granted under the Plan after
the close of business on the day immediately preceding the tenth (10th) anniversary of the effective date of the Plan. Subject
to other applicable provisions of the Plan, all Awards made under the Plan prior to such termination of the Plan shall remain in
effect until such Awards have been satisfied or terminated in accordance with the Plan and the terms of such Awards.

 

		29.	Tax Consequences of Awards/Payments

 

The Company makes no
representations as to the tax consequences of any compensation or benefits provided hereunder (including, without limitation, under
Section 409A of the Code, if applicable). A Participant is solely responsible for any and all income, excise or other taxes imposed
on the Participant with respect to any and all compensation or other benefits provided to the Participant pursuant to an Award
under the Plan.

 

		30.	No Fractional Shares

 

No fractional shares of Stock shall be issued
or delivered pursuant to the Plan. The Committee shall determine whether cash, additional Awards or other securities or property
shall be issued or paid in lieu of fractional shares of Common Stock or whether any fractional shares should be rounded, forfeited
or otherwise eliminated.

 

		31.	Severability

 

If any of the provisions of the Plan or
any Award Agreement is held to be invalid, illegal or unenforceable, whether in whole or in part, such provision shall be deemed
modified to the extent, but only to the extent, of such invalidity, illegality or unenforceability and the remaining provisions
shall not be affected thereby.

 

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