Document:

ex4-10.htm

     

    Exhibit
4.10

     

     

    
      THE
BLACK & DECKER

      2008
RESTRICTED STOCK PLAN

      

      

      1.           Purpose

      

      The
purpose of The Black & Decker 2008 Restricted Stock Plan is to secure,
attract and retain executives and key employees of The Black & Decker
Corporation and its Subsidiaries, to motivate those employees to put forth
maximum efforts for the long-term success of the business, to encourage
ownership of the Corporation’s stock by them, and to further align the interests
of executives and key employees with those of the Corporation’s
stockholders.

      

      2.           Definitions

      

      The following terms wherever used
herein shall have the meanings set forth below.

       

      
        
          	 
      	
                  (a)

                	
                  The
      term “Award” shall mean an award of Restricted Stock or Restricted Stock
      Units under the Plan.

                

        

        

        
          	 
      	
                  (b)

                	
                  The
      term “Award Agreement” shall mean an agreement entered into between the
      Corporation and a Participant setting forth the terms and conditions of an
      Award granted to a Participant.

                

        

        

        
          	 
      	
                  (c)

                	
                  The
      term “Board” shall mean the Board of Directors of the
      Corporation.

                

        

        

        
          	 
      	
                  (d)

                	
                  The term
      “Change in
      Control of the Corporation” shall mean a change in control of a
      nature that would be required to be reported in response to Item 6(e) of
      Schedule 14A of Regulation 14A promul­gated under the Exchange
      Act, whether or not the Corporation is in fact required to comply
      therewith, provided that, without limitation, such a change in control
      shall be deemed to have occurred if (1) any “person” (as that term is used
      in Sections 13(d) and 14(d) of the Exchange Act), other than a trustee or
      other fiduciary holding securities under an employee benefit plan of the
      Corpo­ration or any of its Subsidiaries or a corporation owned,
      directly or indirectly, by the stockholders of the Corporation in
      substantially the same pro­portions as their ownership of stock of the
      Corporation, is or becomes the “beneficial owner” (as defined in Rule
      13d-3 under the Exchange Act), directly or indirectly, of securities of
      the Corporation representing 35% or more of the combined voting power of
      the Corporation’s then outstanding securities; (2) during any period of
      two consecutive years, individuals who at the beginning of that period
      constitute the Board and any new director (other than a director
      designated by a person who has entered into an agreement with the
      Corporation to effect a transaction described in clauses (1) or (4) of
      this Section 2(d)) whose election by the Board or nomination for election
      by the Corporation’s stockholders was approved by a vote of at least
      two-thirds of the directors then still in office who either were directors
      at the beginning of the period or whose election or nomination for
      election was previously so approved cease for any reason to
      const­itute a majority of the Board; (3) the Corporation enters into
      an agreement the consummation of which would result in the occurrence of a
      Change in Control of the Corporation; or (4) the stockholders of the
      Corporation approve a merger, share exchange or consolidation of the
      Corporation with any other corporation or entity, other than a merger,
      share exchange or consolidation that would result in the voting
      securi­ties of the Corporation outstanding immediately prior thereto
      continuing to represent (either by remaining outstanding or by being
      converted into voting securities of the surviving entity) at least 60% of
      the combined voting power of the voting securi­ties of the Corporation
      or the surviving entity outstanding immediately after the merger, share
      exchange or consolidation, or the stockholders of the Corporation approve
      a plan of complete liquidation of the Corporation or an agreement for the
      sale or disposition by the Corporation of all or substantially all the
      Corporation’s assets.

                

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      
        
          	 
      	
                  (e)

                	
                  The
      term “Committee” shall mean the Compensation Committee of the
      Board.

                

        

        

        
          	 
      	
                  (f)

                	
                  The
      term “Common Stock” shall mean shares of common stock, par value $.50 per
      share, of the Corporation.

                

        

        

        
          	 
      	
                  (g)

                	
                  The
      term “Corporation” shall mean The Black & Decker
      Corporation.

                

        

        

        
          	 
      	
                  (h)

                	
                  The
      term “Exchange Act” shall mean the Securities Exchange Act of 1934, as
      amended.

                

        

        

        
          	 
      	
                  (i)

                	
                  The
      term “Participant” shall mean a person to whom an Award is granted
      pursuant to the Plan.

                

        

        

        
          	 
      	
                  (j)

                	
                  The
      term “Plan” shall mean The Black & Decker 2008 Restricted Stock Plan,
      as the same may be amended from time to
time.

                

        

        

        
          	 
      	
                  (k)

                	
                  The
      term “Restricted Stock” shall mean shares of Common Stock awarded under
      the Plan that are subject to a substantial risk of forfeiture or other
      restrictions as determined by the
Committee.

                

        

        

        
          	 
      	
                  (l)

                	
                  The
      term “Restricted Stock Unit” shall mean an Award payable in shares of
      Common Stock and represented by a bookkeeping credit where the amount
      represented by the bookkeeping credit of each Restricted Stock Unit equals
      one share of Common Stock on the date of grant.  Restricted
      Stock Units are not outstanding shares of Common Stock and do not entitle
      a Participant to voting or other rights with respect to Common
      Stock.

                

        

        

        
          	 
      	
                  (m)

                	
                  The term
      “Subsidiary” shall mean any domestic or foreign entity, at least
      50% of the outstanding voting stock or voting power of which is
      beneficially owned, directly or indirectly, by the Corporation.

                

        

        

      

       

      
 

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

       

      3.           Effective
Date of the Plan

       

      This Plan
shall become effective upon stockholder approval at the 2008 Annual Meeting of
Stockholders, provided that the Committee may make Awards pursuant to the Plan
prior to such stockholder approval if such Awards by their terms are contingent
upon subsequent stock­holder approval of the Plan.

       

      4.           Administration

       

      
        
          	 
      	
                  (a)

                	
                  
                    The
      Plan shall be administered by the
  Committee.

                  

                

        

        
          

          
            	 
      	
                    (b)

                  	
                    
                      The
      Committee may establish, from time to time and at any time, subject to the
      limitations of the Plan, such rules and regulations and amendments and
      supplements thereto as it deems neces­sary to comply with applicable
      law and regulation and for the proper administration of the
      Plan.

                    

                  

          

          
            

            
              	 
      	
                      (c)

                    	
                      
                        Awards
      shall be granted by the Corporation and shall become effective only after
      prior approval of the Committee and upon the execution of an Award
      Agreement between the Corporation and the recipient of the
      Award.

                      

                    

            

            
              

              
                	 
      	
                        (d)

                      	
                        
                          All
      Awards under the Plan are subject to withholding of all applicable taxes,
      and the Committee may condition the delivery of any shares or other
      benefits under the Plan on satisfaction of the applicable withholding
      obligations.  The Committee, in its discretion, and subject to
      such requirements as the Committee may impose prior to the occurrence of
      such withholding, may permit such withholding obligation to be satisfied
      through cash payments, through the surrender of shares of Common Stock
      that the Participant already owns, or through the surrender of shares of
      Common Stock to which the Participant is otherwise entitled under the
      Plan.

                        

                      

              

              
                

                
                  	 
      	
                          (e)

                        	
                          
                            The
      Committee’s interpretation and construction of the provisions of the Plan
      and the rules and regulations adopted by the Committee shall be final and
      binding on all persons.

                          

                        

                

                
                  

                  
                    	 
      	
                            (f)

                          	
                            
                              Notwithstanding
      any other provisions of the Plan, the Corporation shall have no obligation
      to deliver any shares of Common Stock under the Plan or make any other
      distribution of any benefit under the Plan unless such delivery or
      distribution would comply with all applicable laws and regulations,
      including without limitation the Exchange Act and the requirements of the
      New York Stock Exchange.

                            

                          

                  

                  
5.           Participation
in the Plan

                   

                  
                    
                      	 
      	
                              (a)

                            	
                              
                                Participation
      in the Plan shall be limited to the executives and employees of the
      Corporation who shall be designated by the
  Committee.

                              

                            

                    

                    
                      

                      
                        	 
      	
                                (b)

                              	
                                
                                  No
      member of the Board who is not also an employee of the Corporation shall
      be eligible to participate in the
Plan.

                                

                              

                      

                      
 

                       

                      
                        
                          
                          

                        

                        
                          -3-

                          
                            

                          

                        

                        
                          
                          

                        

                      

                       

                      6.           Stock
Subject to the Plan

                       

                      
                        
                          	 
      	
                                  (a)

                                	
                                  
                                    The
      amount of Common Stock available for Awards under the Plan shall be
      1,000,000 shares.  Any shares of Common Stock surrendered to pay
      taxes in accordance with Section 4(d) of the Plan shall not be available
      for an Award under the Plan.  If for any reason shares of Common
      Stock as to which an Award has been made are cancelled or forfeited, then
      such shares of Common Stock again shall be available for an Award under
      the Plan.

                                  

                                

                        

                        
                          

                          
                            	 
      	
                                    (b)

                                  	
                                    
                                      In
      the event of a reorganization, recapitalization, stock split, stock
      dividend, combination of shares, merger, consolidation, share exchange,
      acquisition of property or stock, or any change in the capital structure
      of the Corporation, the Committee shall make such adjustments as may be
      appropriate in the number and kind of shares reserved for Awards and in
      the number and kind price of shares covered by outstanding
      Awards.  Any adjustments made by the Committee shall be final,
      binding and conclusive.

                                    

                                  

                          

                           

                          7.           Terms
and Conditions of Restricted Stock and Restricted Stock Unit Awards

                          
                            

                            
                              	 
      	
                                      (a)

                                    	
                                      
                                        Each
      Award of Restricted Stock or Restricted Stock Units under the Plan shall
      be evidenced by an Award Agreement between the Participant and the
      Corporation in such form as the Committee may approve, which agreement
      shall be subject to the terms and conditions of the Plan and shall contain
      such terms and conditions as the Committee shall
      prescribe.

                                      

                                    

                            

                            
                              

                              
                                	 
      	
                                        (b)

                                      	
                                        
                                          Restricted
      Stock and Restricted Stock Units may be awarded under the Plan for such
      consideration as the Committee may determine, including (without
      limitation) cash, past services or future services.  Unless
      otherwise specified by the Committee in the Award Agreement, the
      consideration for the Restricted Stock or Restricted Stock Units shall be
      the continuation of the Participant as an employee of the Corporation or
      its Subsidiaries for the duration of the restricted
      period.

                                        

                                      

                              

                              
                                

                                
                                  	 
      	
                                          (c)

                                        	
                                          
                                            Each
      award of Restricted Stock or Restricted Stock Units may or may not be
      subject to vesting.  Vesting shall occur, in full or in
      installments, upon satisfaction of the conditions specified in the Award
      Agreement.  During any restricted period, the Participant shall
      not be permitted to sell, transfer, pledge or assign any Restricted Stock
      or Restricted Stock Units awarded under this
      Plan.  Notwithstanding the foregoing, each Award Agreement shall
      provide that all Restricted Stock and Restricted Stock Units subject to
      the Award Agreement shall become fully vested in the event that a Change
      in Control of the Corporation occurs or the Participant dies or becomes
      totally disabled while in the employ of the Corporation or its
      Subsidiaries.

                                          

                                        

                                

                                
                                  

                                  
                                    	 
      	
                                            (d)

                                          	
                                            
                                              Except
      as provided in Section 7(c) of the Plan, the holder of Restricted Stock
      shall have the same voting, dividend, and other rights with respect to
      Restricted Stock as a holder of unrestricted shares of the Corporation has
      with respect to those shares.  Restricted Stock Units are not
      outstanding shares of Common Stock and do not entitle the holder thereof
      to voting rights with respect to the underlying shares of Common
      Stock.  Unless the Award Agreement otherwise provides, holders
      of Restricted Stock Units are entitled to receive payments in the amount
      equivalent to cash dividends or other distributions when and if such
      dividends or other distributions are paid as if such holder had been
      awarded shares of Common
Stock.

                                            

                                          

                                  

                                   

                                   

                                  
                                    
                                      
                                      

                                    

                                    
                                      -4-

                                      
                                        

                                      

                                    

                                    
                                      
                                      

                                    

                                     

                                     

                                    8.           Cancellation
and Rescission of Awards

                                     

                                    Unless
the Award Agreement specifies otherwise, the Committee may cancel, rescind,
suspend, withhold or otherwise limit or restrict any outstanding Awards at any
time if the Participant is not in compliance with all applicable provisions of
the applicable Award Agreement and the Plan, the Participant voluntarily
terminates employment by the Corporation without the Committee’s approval, or
the Participant engages in any conduct or act determined by the Committee to be
injurious, detrimental, or prejudicial to any interest of the
Corporation.

                                     

                                    9.           Amendments
and Discontinuance of the Plan; Modification of Awards

                                     

                                    The Board
shall have the right at any time and from time to time to amend, modify, or
discontinue the Plan; provided, however, that, no such amendment, modification,
or discon­tinuance of the Plan shall (a) be effective unless approved by the
stockholders of the Corporation to the extent stockholder approval is necessary
to satisfy the requirement of the New York Stock Exchange, (b) revoke or alter
the terms of any Award previously granted under the Plan, or (c) extend the time
Awards may be made under the Plan beyond May 1, 2018.

                                     

                                    10.           Plan
Subject to Governmental Laws and Regulations

                                     

                                    The Plan
and the terms of Awards shall be subject to all applicable governmental laws and
regulations.  Notwithstanding any other provision of the Plan to the
contrary, the Board may in its sole and absolute discretion make such changes in
the Plan as may be required to conform the Plan to such laws and
regulations.

                                     

                                    11.           Exclusion
From Retirement and Fringe Benefit Computation

                                     

                                    No
portion of any Award under this Plan shall be taken into account as “wages,”
“salary” or “compensation” for any purpose, whether in determining eligibility,
benefits or otherwise, under (a) any pension, retirement, profit sharing or
other qualified or non-qualified plan of deferred compensation, (b) any employee
welfare or fringe benefit plan including, but not limited to, group insurance,
hospitalization, medical, disability and severance programs, or (c) any form of
extraordinary pay including but not limited to bonuses, sick pay, vacation pay,
termination indemnities or the like.

                                     

                                    
                                       

                                       

                                      
                                        
                                          
                                          

                                        

                                        
                                          -5-

                                          
                                            

                                          

                                        

                                        
                                          
                                          

                                        

                                      

                                       

                                      
                                        
                                          12.          Non-Guarantee of Employment

                                           

                                          Nothing
in the Plan or in any Award granted pursuant to the Plan shall be construed as a
contract of employment between the Corporation or any Subsidiary, and the
selection of any person as a Participant in the Plan will not give that person
the right to continue in the employ of the Corporation or any Subsidiary, the
right to continue to provide services to the Corporation or any Subsidiary or as
a limitation of the right of the Corporation or any Subsidiary to discharge any
Participant or any other person at any time.

                                           

                                          
                                            13.          Liability
Limited; Indemnification

                                             

                                            
                                              
                                                	 
      	
                                                        (a)

                                                      	
                                                        
                                                          
                                                            To
      the maximum extent permitted by Maryland law, neither the Corporation, the
      Board, the Committee, nor any member of the Board or the Committee, shall
      be liable for any action or determination made with respect to this
      Plan.

                                                          

                                                        

                                                      

                                              

                                              
                                                

                                                
                                                  	 
      	
                                                          (b)

                                                        	
                                                          
                                                            
                                                              In
      addition to such other rights of indemnification that they may have, the
      members of the Board and the Committee shall be indemnified by the
      Corporation to the maximum extent permitted by Maryland law against any
      and all liabilities and expenses incurred in connection with their service
      in such capacity.

                                                            

                                                          

                                                        

                                                

                                                

                                                  14.          Miscellaneous

                                                  
                                                     

                                                    
                                                      	 
      	
                                                              (a)

                                                            	
                                                              
                                                                
                                                                  The
      headings in this Plan are for reference purposes only and shall not affect
      the meaning or interpretation of the
  Plan.

                                                                

                                                              

                                                            

                                                    

                                                    
                                                       

                                                      
                                                        	 
      	
                                                                (b)

                                                              	
                                                                
                                                                  This
      Plan shall be governed by, and construed in accordance with, the laws of
      the State of Maryland, without regard to principles of conflict of laws of
      any jurisdiction.

                                                                

                                                              

                                                      

                                                      
                                                         

                                                        
                                                          	 
      	
                                                                  (c)

                                                                	
                                                                  
                                                                    
                                                                      All
      notices and other communications made or given pursuant to this Plan shall
      be in writing and shall be sufficiently made or given if delivered or
      mailed, addressed to the Participant at the most recent address contained
      in the records of the Corporation or to the Corporation at its principal
      office at 701 East Joppa Road, Towson,
      Maryland  21286.

                                                                    

                                                                  

                                                                

                                                        

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                         

                                                        -6-ex4-11.htm

    Exhibit
4.11

     

     

    THE
BLACK & DECKER NON-EMPLOYEE DIRECTORS STOCK PLAN

    

    1. Purpose of the
Plan.    Under this Non-Employee Directors Stock Plan
of The Black & Decker Corporation, a Maryland corporation (the
“Company”), shares of the Company’s Common Stock, par value $.50 per share
(“Common Stock”), will be issued to participants in partial compensation for
their service as directors of the Company. This Plan is designed to promote the
long-term growth and financial success of the Company by enabling the Company to
attract, retain and motivate directors by providing for or increasing their
proprietary interest in the Company and by aligning the economic interests of
directors with those of the Company’s stockholders.

    

    2. Definitions.    For
purposes of this Plan:

    

    (a) The term “Board” shall mean the
Company’s Board of Directors.

    

    (b) The term “Fair Market Value”
shall mean as of any date, and unless the Committee shall specify otherwise, the
closing sale price per share of Common Stock as finally reported in the New York
Stock Exchange Composite Transactions for the New York Stock Exchange or if
shares of Common Stock are not sold on such date, the closing sale price per
share of Common Stock as finally reported in the New York Stock Exchange
Composite Transactions for the New York Stock Exchange for the most recent prior
date on which shares of Common Stock were sold.

    

    (c) The term “Participant” shall
mean any person who on a Payment Date is a member of the Board of Directors of
the Company and is not a full-time employee of the Company or a subsidiary of
the Company. For purposes of this Section 2(c), unless the Board provides
otherwise, a person shall not be considered an employee solely by reason of
serving as Chairman of the Board.

    

    (d) The term “Payment Date” shall
mean the date on which each directors’ retainer fees are paid by the Company.
Unless the Board specifies otherwise, the Payment Date shall be the date of the
Annual Meeting of Stockholders of the Company.

    

    (e) The term “Plan” shall mean The
Black & Decker Non-Employee Directors Stock Plan, as approved by the
Board on February 12, 1998, and adopted by the stockholders at the 1998
Annual Meeting of Stockholders, as the same may be amended from time to
time.

    

    (f) The term “Shares” shall mean
shares of Common Stock granted under this Plan.

    

    3. Effective
Date.    The effective date of this Plan (the
“Effective Date”) is April 28, 1998. The amendment and restatement of this
Plan shall be effective at the 2008 Annual Meeting of Stockholders. Shares may
not be issued under this Plan after termination of this Plan by the Board or
after issuance of all of the Shares authorized for issuance under this Plan,
whichever is earlier.

    

    4. Plan
Operation.    This Plan is intended to operate in a
manner that meets the requirements of a formula plan under Rule 16b-3 (or its
successor) adopted under the Securities Exchange Act of 1934, as amended (the
”Exchange Act”). Accordingly, this Plan is intended to be self-governing and
requires no discretionary action by any administrative body with regard to any
transaction under this Plan. Subject to the foregoing, this Plan shall be
administered by the Corporate Governance Committee of the Board (the
“Committee”), and all decisions, determinations and interpretations by the
Committee regarding this Plan shall be final and binding on all current, future
and former Participants. The Committee may delegate to one or more of its
members or to any person or persons such ministerial duties as it may deem
advisable.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    To the
extent any provision of this Plan or action taken hereunder fails to so operate
under Rule 16b-3, such provision or action shall be deemed null and void and
shall be conformed so as to so operate, to the extent permitted by law and
deemed advisable by the Board.

    

    5. Stock Subject to
Plan.    The maximum number of Shares that may be
issued hereunder shall be 250,000, subject to adjustments under
Section 6.

    

    6. Adjustments.    If
the outstanding securities of the class then subject to this Plan are increased,
decreased or exchanged for or converted into cash, property or a different
number or kind of shares or securities, or if cash, property or shares or
securities are distributed in respect of such outstanding securities, in either
case as a result of a reorganization, merger, consolidation, recapitalization,
restructuring, reclassification, dividend (other than a regular quarterly cash
dividend) or other distribution, stock split, reverse stock split, spin-off or
the like, or if substantially all of the property and assets of the Company are
sold, then unless the terms of such transaction shall provide otherwise, the
Board shall make an appropriate adjustment in the number and/or type of shares
or securities that may thereafter be issued under this Plan.

    

    7. Stock
Grants.    Commencing on the Effective Date, and on
each Payment Date thereafter during the term of this Plan, each Participant
shall be granted a number of Shares as specified by the Board to be paid in
Shares. In addition, a Participant may elect to receive all or any portion of
the directors’ annual retainer specified by the Board to be paid in cash in
Shares under this Plan. If on any date upon which Shares are to be granted or
issued under this Plan the number of Shares remaining available under this Plan
is less than the number of Shares required for all grants to be made on such
date, then any election to receive all or any portion of the cash portion of the
directors’ annual retainer in Shares shall be void, and a proportionate amount
of such available number of Shares shall be granted to each Participant, and in
lieu of the Shares that otherwise would be issuable, the Participants shall be
paid an amount in cash equal to (a) the difference between the portion of
the directors’ annual retainer to be paid in Shares less the number of Shares
then issued to the Participant, multiplied by (b) the Fair Market Value on
that date.

    

    8. Deferral of
Shares.    A Participant may elect to defer receipt
of all or any portion of the directors’ annual retainer under this Plan under
and in accordance with rules established for this purpose under the Deferred
Compensation Plan for Non-Employee Directors. This deferral shall be denominated
in Common Stock as if the Participant had elected to receive such portion of the
directors’ annual retainer in Shares, and thereafter such deferral shall be
valued in Common Stock. This deferral shall be increased by the value of any
dividends declared with respect to Common Stock, which value shall be deemed to
be reinvested in Common Stock, based on the Fair Market Value on the record date
for such dividends. The aggregate number of shares of Common Stock accumulated
on behalf of the Participant under this Plan shall be paid to the Participant in
Shares under this Plan in accordance with the election made by the Participant
under rules established for this purpose under the Deferred Compensation Plan
for Non-Employee Directors. Notwithstanding the foregoing, in the event that the
deemed reinvestment of any dividends in Common Stock would cause the Company to
exceed the maximum number of Shares that may be issued under this Plan, the
Common Stock attributable to such dividends shall be paid to the Participant in
cash based on the Fair Market Value on the date the Participant’s deferral
otherwise is paid.

    

     

     

    
      
        
        

      

      
        B-2

        
          

        

      

      
        
        

      

    

     

    
 

    9. Amendment and
Termination.    The Board may alter, amend, suspend
or terminate this Plan, provided that no such action shall deprive any
Participant, without his or her consent, of any Shares theretofore issued under
this Plan, or deferred under this Plan, and provided further that the provisions
of this Plan designating persons eligible to participate in this Plan and
specifying the retainer amounts payable to Participants hereunder and the amount
and timing of grants under this Plan shall not be amended more than once every
six months other than to comport with changes in the Internal Revenue Code of
1986, as amended, the Employee Retirement Income Security Act of 1974, as
amended, or the rules thereunder, unless such restriction on amendments to this
Plan is not necessary in order for the transactions contemplated by this Plan to
be exempt under Rule 16b-3 of the Exchange Act.

    

    10. Taxes.    The
Board may make such provisions or impose such conditions as it may deem
appropriate for the withholding or payment by a Participant of any taxes that it
determines are necessary or appropriate in connection with any issuance of
Shares under this Plan, and a Participant’s rights in any Shares are subject to
satisfaction of such conditions. The Company and any affiliate of the Company
shall not be liable to a Participant or any other persons as to any tax
consequence expected, but not realized, by any Participant or other person due
to the receipt of any Shares granted hereunder.

    

    11. Compliance with
Law.    Shares shall not be issued under this Plan
unless and until counsel for the Company shall be satisfied that any conditions
necessary for such issuance to comply with applicable federal, state or local
tax, securities or other laws or rules or applicable securities exchange
requirements have been fulfilled.

    

    12. Governing Law;
Miscellaneous.    This Plan and any rights hereunder
shall be interpreted and construed in accordance with the laws of the State of
Maryland and applicable federal law. Neither this Plan nor any action taken
pursuant thereto shall be construed as giving any Participant any right to be
retained in the service of the Company or nominated for reelection to the
Board.

    

     

     

     

     

     

     

     

     

     

     

    B-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]