Document:

EX-4.3

 Exhibit 4.3 
 DEPOSIT AGREEMENT 
 among 

ZIONS BANCORPORATION, 
 ZIONS FIRST NATIONAL BANK, 
 as Depositary, 

and 
 THE HOLDERS
FROM TIME TO TIME OF 
 THE DEPOSITARY RECEIPTS DESCRIBED HEREIN 

Dated as of May 3, 2013 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	DEFINED TERMS	  
			
	 Section 1.1.
	 	 Definitions.
	  	 	1	  
	
	ARTICLE II	  
	 FORM OF RECEIPTS, DEPOSIT OF SERIES H PREFERRED STOCK,

EXECUTION AND DELIVERY, TRANSFER, SURRENDER
 AND REDEMPTION OF RECEIPTS
	   

  
   

			
	 Section 2.1.
	 	 Form and Transfer of Receipts.
	  	 	3	  
	 Section 2.2.
	 	 Deposit of Series H Preferred Stock; Execution and Delivery of Receipts in Respect Thereof.
	  	 	4	  
	 Section 2.3.
	 	 Registration of Transfer of Receipts.
	  	 	5	  
	 Section 2.4.
	 	 Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series H Preferred Stock.
	  	 	5	  
	 Section 2.5.
	 	 Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.
	  	 	6	  
	 Section 2.6.
	 	 Lost Receipts, etc.
	  	 	6	  
	 Section 2.7.
	 	 Cancellation and Destruction of Surrendered Receipts.
	  	 	7	  
	 Section 2.8.
	 	 Redemption of Series H Preferred Stock.
	  	 	7	  
	 Section 2.9.
	 	 Receipts Issuable in Global Registered Form.
	  	 	8	  
	
	ARTICLE III	  
	 CERTAIN OBLIGATIONS OF
 HOLDERS OF RECEIPTS AND THE CORPORATION
	   

  

			
	 Section 3.1.
	 	 Filing Proofs, Certificates and Other Information.
	  	 	9	  
	 Section 3.2.
	 	 Payment of Taxes or Other Governmental Charges.
	  	 	10	  
	 Section 3.3.
	 	 Warranty as to Series H Preferred Stock.
	  	 	10	  
	 Section 3.4.
	 	 Warranty as to Receipts.
	  	 	10	  
	
	ARTICLE IV	  
	THE DEPOSITED SECURITIES; NOTICES	  
			
	 Section 4.1.
	 	 Cash Distributions.
	  	 	10	  
	 Section 4.2.
	 	 Distributions Other than Cash, Rights, Preferences or Privileges.
	  	 	11	  
	 Section 4.3.
	 	 Subscription Rights, Preferences or Privileges.
	  	 	11	  
	 Section 4.4.
	 	 Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts.
	  	 	12	  
	 Section 4.5.
	 	 Voting Rights.
	  	 	13	  
	 Section 4.6.
	 	 Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.
	  	 	13	  
	 Section 4.7.
	 	 Delivery of Reports.
	  	 	14	  
	 Section 4.8.
	 	 Lists of Receipt Holders.
	  	 	14	  

  
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	ARTICLE V	  
	 THE DEPOSITARY, THE DEPOSITARY’S

AGENTS, THE REGISTRAR AND THE CORPORATION
	   

  

			
	 Section 5.1.
	 	 Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.
	  	 	14	  
	 Section 5.2.
	 	 Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Corporation.
	  	 	15	  
	 Section 5.3.
	 	 Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Corporation.
	  	 	15	  
	 Section 5.4.
	 	 Resignation and Removal of the Depositary; Appointment of Successor Depositary.
	  	 	17	  
	 Section 5.5.
	 	 Corporate Notices and Reports.
	  	 	17	  
	 Section 5.6.
	 	 Indemnification by the Corporation.
	  	 	18	  
	 Section 5.7.
	 	 Fees, Charges and Expenses.
	  	 	18	  
	
	ARTICLE VI	  
	AMENDMENT AND TERMINATION	  
			
	 Section 6.1.
	 	 Amendment.
	  	 	18	  
	 Section 6.2.
	 	 Termination.
	  	 	19	  
	
	ARTICLE VII	  
	MISCELLANEOUS	  
			
	 Section 7.1.
	 	 Counterparts.
	  	 	20	  
	 Section 7.2.
	 	 Benefit of this Deposit Agreement.
	  	 	20	  
	 Section 7.3.
	 	 Invalidity of Provisions.
	  	 	20	  
	 Section 7.4.
	 	 Notices.
	  	 	20	  
	 Section 7.5.
	 	 Depositary’s Agents.
	  	 	21	  
	 Section 7.6.
	 	 Appointment of Registrar and Transfer Agent in Respect of the Receipts.
	  	 	21	  
	 Section 7.7.
	 	 Holders of Receipts Are Parties.
	  	 	22	  
	 Section 7.8.
	 	 Governing Law.
	  	 	22	  
	 Section 7.9.
	 	 Inspection of Deposit Agreement.
	  	 	22	  
	 Section 7.10.
	 	 Headings.
	  	 	22	  

  

			
	Exhibit A	  	Form of Receipt
	Exhibit B	  	Articles of Amendment
	Exhibit C	  	Form of Officer’s Certificate

  
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 DEPOSIT AGREEMENT, dated as of May 3, 2013, among ZIONS BANCORPORATION, a Utah corporation,
ZIONS FIRST NATIONAL BANK, a national banking association formed under the laws of the United States, and the Holders from time to time of the Receipts described herein. 
 WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of Series H Preferred Stock of the Corporation from time to time with the Depositary
for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Receipts evidencing Depositary Shares in respect of the Series H Preferred Stock so deposited; and 

WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed hereto, with appropriate insertions, modifications
and omissions, as hereinafter provided in this Deposit Agreement; 
 NOW, THEREFORE, in consideration of the premises, the
parties hereto agree as follows: 
 ARTICLE I 
 DEFINED TERMS 
 Section 1.1. Definitions. 

The following definitions shall for all purposes, unless otherwise indicated, apply to the respective terms used in this Deposit
Agreement: 
 “Articles” shall mean the Articles of Amendment filed with the Utah Division of Corporations and
Commercial Code establishing the Series H Preferred Stock as a series of preferred stock of the Corporation, substantially in the form attached hereto as Exhibit B. 
 “Corporation” shall mean Zions Bancorporation, a Utah corporation, and its successors. 
 “Deposit Agreement” shall mean this Deposit Agreement, as amended or supplemented from time to time in accordance with the terms hereof. 

“Depositary” shall mean Zions First National Bank, a national banking association formed under the laws of the United
States, and any successor as Depositary hereunder. 
 “Depositary Shares” shall mean the depositary shares,
each representing one-fortieth of one share of the Series H Preferred Stock, evidenced by a Receipt. 

“Depositary’s Agent” shall mean an agent appointed by the Depositary pursuant to Section 7.5. 

  
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 “Depositary’s Office” shall mean the principal office of the
Depositary in Salt Lake City, Utah, at which at any particular time its depositary receipt business shall be administered. 

“DTC” means The Depository Trust Company, a New York corporation. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exchange Event” means with respect to any Global Registered Receipt: 

(1) (A) the Global Receipt Depository which is the holder of such Global Registered Receipt or Receipts notifies the
Corporation that it is no longer willing or able to properly discharge its responsibilities under any Letter of Representations or that it is no longer eligible or in good standing under the Exchange Act, and (B) the Corporation has not
appointed a qualified successor Global Receipt Depository within 90 calendar days after the Corporation received such notice, or 
 (2) the Corporation in its sole discretion notifies the Depositary in writing that the Receipts or portion thereof issued or issuable in the form of one or more Global Registered Receipts shall no longer
be represented by such Global Receipt or Receipts. 
 “Global Receipt Depository” means, with respect to any
Receipt issued hereunder, DTC or such other entity designated as Global Receipt Depository by the Corporation in or pursuant to this Deposit Agreement, which entity must be, to the extent required by any applicable law or regulation, a clearing
agency registered under the Exchange Act. 
 “Global Registered Receipts” means a global registered Receipt
registered in the name of a nominee of DTC. 
 “Letter of Representations” means any applicable agreement among
the Corporation, the Depositary and a Global Receipt Depository with respect to such Global Receipt Depository’s rights and obligations with respect to any Global Registered Receipts, as the same may be amended, supplemented, restated or
otherwise modified from time to time and any successor agreement thereto. 
 “Officer’s Certificate” means
a certificate in substantially the form set forth as Exhibit C hereto, which is signed by an officer of the Corporation and which shall include the terms and conditions of the Series H Preferred Stock to be issued by the Corporation and
deposited with the Depositary from time to time in accordance with the terms hereof. 
 “Receipt” shall mean
one of the depositary receipts issued hereunder, substantially in the form set forth as Exhibit A hereto, whether in definitive or temporary form, and evidencing the number of Depositary Shares with respect to the Series H Preferred Stock
held of record by the Record Holder of such Depositary Shares. 
 “Record Holder” or “Holder”
as applied to a Receipt shall mean the person in whose name such Receipt is registered on the books of the Depositary maintained for such purpose. 

  
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 “Registrar” shall mean the Depositary or such other successor bank or trust
company which shall be appointed by the Corporation to register ownership and transfers of Receipts as herein provided and if a successor Registrar shall be so appointed, references herein to “the books” of or maintained by the Depository
shall be deemed, as applicable, to refer as well to the register maintained by such Registrar for such purpose. 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Series H Preferred Stock” shall mean the shares of the Corporation’s Series H Fixed-Rate Non-Cumulative
Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share, designated in the Articles and described in the Officer’s Certificate delivered pursuant to Section 2.2 hereof. 

ARTICLE II 

FORM OF RECEIPTS, DEPOSIT OF SERIES H PREFERRED STOCK, 
 EXECUTION AND DELIVERY, TRANSFER, SURRENDER 
 AND REDEMPTION OF RECEIPTS 

Section 2.1. Form and Transfer of Receipts. 

The definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to this Deposit Agreement, with appropriate
insertions, modifications and omissions, as hereinafter provided and shall be engraved or otherwise prepared so as to comply with applicable rules of the New York Stock Exchange Inc. 

Receipts shall be executed by the Depositary by the manual signature of a duly authorized officer of the Depositary; provided, that such
signature may be a facsimile if a Registrar for the Receipts (other than the Depositary) shall have been appointed and such Receipts are countersigned by manual signature by a duly authorized officer of the Registrar. No Receipt shall be entitled to
any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed manually by a duly authorized officer of the Depositary or, if a Registrar for the Receipts (other than the Depositary) shall have
been appointed, by manual or facsimile signature of a duly authorized officer of the Depositary and countersigned by manual signature by a duly authorized officer of such Registrar. The Depositary shall record on its books each Receipt so signed and
delivered as hereinafter provided. 
 Receipts shall be in denominations of any number of whole Depositary Shares. 

Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the
provisions of this Deposit Agreement all as may be required by the Depositary and approved by the Corporation or required to comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange
upon which the Series H Preferred Stock, the Depositary Shares or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject.

  
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 Title to Depositary Shares evidenced by a Receipt which is properly endorsed or accompanied
by a properly executed instrument of transfer shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of any particular Receipt shall be registered on the books of the
Depositary as provided in Section 2.3, the Depositary may, notwithstanding any notice to the contrary, treat the Record Holder thereof at such time as the absolute owner thereof for the purpose of determining the person entitled to
distributions of dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
 Section 2.2. Deposit of Series H Preferred Stock; Execution and Delivery of Receipts in Respect Thereof. 
 Subject to the terms and conditions of this Deposit Agreement, the Corporation may from time to time deposit shares of Series H Preferred Stock under this Deposit Agreement by delivery to the
Depositary of a certificate or certificates for such shares of Series H Preferred Stock to be deposited, properly endorsed or accompanied, if required by the Depositary, by a duly executed instrument of transfer or endorsement, in form
satisfactory to the Depositary, together with all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement and an executed Officer’s Certificate attaching the Articles and all other
information required to be set forth therein, and together with a written order of the Corporation directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated in such order a Receipt or Receipts
evidencing in the aggregate the number of Depositary Shares representing such deposited Series H Preferred Stock. Each Officer’s Certificate delivered to the Depositary in accordance with the terms of this Deposit Agreement shall be deemed
to be incorporated into this Deposit Agreement and shall be binding on the Corporation, the Depositary and the Holders of Receipts to which such Officer’s Certificate relates. 

The Series H Preferred Stock that is deposited shall be held by the Depositary at the Depositary’s Office or at such other
place or places as the Depositary shall determine. The Depositary shall not lend any Series H Preferred Stock deposited hereunder. 
 Upon receipt by the Depositary of a certificate or certificates for Series H Preferred Stock deposited in accordance with the provisions of this Section, together with the other documents required as
above specified, and upon recordation of the Series H Preferred Stock on the books of the Corporation (or its duly appointed transfer agent) in the name of the Depositary or its nominee, the Depositary, subject to the terms and conditions of
this Deposit Agreement, shall execute and deliver to or upon the order of the person or persons named in the written order delivered to the Depositary referred to in the first paragraph of this Section, a Receipt or Receipts evidencing in the
aggregate the number of Depositary Shares representing the Series H Preferred Stock so deposited and registered in such name or names as may be requested by such person or persons. The Depositary shall execute and deliver such Receipt or
Receipts at the Depositary’s Office or such other offices, if any, as the Depositary may designate. Delivery at other offices shall be at the risk and expense of the person requesting such delivery. 

  
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 Section 2.3. Registration of Transfer of Receipts. 

Subject to the terms and conditions of this Deposit Agreement, the Depositary shall register on its books from time to time transfers of
Receipts upon any surrender thereof by the Holder in person or by duly authorized attorney, properly endorsed or accompanied by a properly executed instrument of transfer. Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing
the same aggregate number of Depositary Shares as those evidenced by the Receipt or Receipts surrendered and deliver such new Receipt or Receipts to or upon the order of the person entitled thereto. 

The Depositary shall not be required (a) to issue, transfer or exchange any Receipts for a period beginning at the opening of
business 15 days next preceding any selection of Depositary Shares and Series H Preferred Stock to be redeemed and ending at the close of business on the day of the mailing of notice of redemption, or (b) to transfer or exchange for
another Receipt any Receipt called or being called for redemption in whole or in part except as provided in Section 2.8. 
 Section 2.4. Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series H Preferred Stock. 

Upon surrender of a Receipt or Receipts at the Depositary’s Office or at such other offices as it may designate for the purpose of
effecting a split-up or combination of such Receipt or Receipts, and subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute a new Receipt or Receipts in the authorized denomination or denominations requested,
evidencing the aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the Holder of the Receipt or Receipts so surrendered. 

Any Holder of a Receipt or Receipts may withdraw the number of whole shares of Series H Preferred Stock and all money and other
property, if any, represented thereby by surrendering such Receipt or Receipts at the Depositary’s Office or at such other offices as the Depositary may designate for such withdrawals. Thereafter, without unreasonable delay, the Depositary
shall deliver to such Holder, or to the person or persons designated by such Holder as hereinafter provided, the number of whole shares of Series H Preferred Stock and all money and other property, if any, represented by the Receipt or Receipts
so surrendered for withdrawal, but Holders of such whole shares of Series H Preferred Stock will not thereafter be entitled to deposit such Series H Preferred Stock hereunder or to receive a Receipt evidencing Depositary Shares therefor.
If a Receipt delivered by the Holder to the Depositary in connection with such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of Series H Preferred
Stock to be so withdrawn, the Depositary shall at the same time, in addition to such number of whole shares of Series H Preferred Stock and such money and other property, if any, to be so withdrawn, deliver to such Holder, or subject to
Section 2.3 upon such Holder’s order, a new Receipt evidencing such excess number of Depositary Shares. 
 Except as
provided in Section 6.2, in no event will fractional shares of Series H Preferred Stock (or any cash payment in lieu thereof) be delivered by the Depositary. Delivery 

  
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of the Series H Preferred Stock and money and other property, if any, being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the
Depositary may deem appropriate. 
 If the Series H Preferred Stock and the money and other property, if any, being
withdrawn are to be delivered to a person or persons other than the Record Holder of the related Receipt or Receipts being surrendered for withdrawal of such Series H Preferred Stock, such Holder shall execute and deliver to the Depositary a
written order so directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by such Holder for withdrawal of such shares of Series H Preferred Stock be properly endorsed in blank or accompanied by a
properly executed instrument of transfer in blank. 
 Delivery of the Series H Preferred Stock and the money and other
property, if any, represented by Receipts surrendered for withdrawal shall be made by the Depositary at the Depositary’s Office, except that, at the request, risk and expense of the Holder surrendering such Receipt or Receipts and for the
account of the Holder thereof, such delivery may be made at such other place as may be designated by such Holder. 
 Section 2.5. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts. 
 As a condition precedent to the execution and delivery, registration of transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the
Corporation may require payment to it of a sum sufficient for the payment (or, in the event that the Depositary or the Corporation shall have made such payment, the reimbursement to it) of any charges or expenses payable by the Holder of a Receipt
pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature, and may also require compliance with such regulations, if any, as the Depositary or the Corporation may
establish consistent with the provisions of this Deposit Agreement and/or applicable law. 
 The deposit of the Series H
Preferred Stock may be refused, the delivery of Receipts against Series H Preferred Stock may be suspended, the registration of transfer of Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts
may be suspended (i) during any period when the register of shareholders of the Corporation is closed or (ii) if any such action is deemed necessary or advisable by the Depositary, any of the Depositary’s Agents or the Corporation at
any time or from time to time because of any requirement of law or of any government or governmental body or commission or under any provision of this Deposit Agreement. 

Section 2.6. Lost Receipts, etc. 
 In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like form and tenor in exchange and substitution for such mutilated
Receipt, or in lieu of and in substitution for such destroyed, lost or stolen Receipt, upon (i) the filing by the Holder thereof with the Depositary of evidence satisfactory to the Depositary of such destruction or loss or theft of such
Receipt, of the authenticity thereof and of such Holder’s ownership thereof and (ii) the Holder thereof furnishing the Depositary with reasonable indemnification satisfactory to the Depositary. 

  
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 Section 2.7. Cancellation and Destruction of Surrendered
Receipts. 
 All Receipts surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary.
Except as prohibited by applicable law or regulation, the Depositary is authorized and directed to destroy all Receipts so cancelled. 
 Section 2.8. Redemption of Series H Preferred Stock. 
 Whenever
the Corporation shall be permitted and shall elect to redeem shares of Series H Preferred Stock in accordance with the terms of the Articles, it shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the
Depositary, not less than 30 days and not more than 60 days prior to the Redemption Date (as defined below), notice of the date of such proposed redemption of Series H Preferred Stock and of the number of such shares held by the Depositary
to be so redeemed and the applicable redemption price, which notice shall be accompanied by a certificate from the Corporation stating that such redemption of Series H Preferred Stock is in accordance with the provisions of the Articles. On the
date of such redemption, provided that the Corporation shall then have paid or caused to be paid in full to the Depositary the redemption price of the Series H Preferred Stock to be redeemed, plus an amount equal to any declared and unpaid
dividends thereon (without accumulation of any undeclared dividends) to the date fixed for redemption, in accordance with the provisions of the Articles, the Depositary shall redeem the number of Depositary Shares representing such Series H
Preferred Stock. The Depositary shall mail notice of the Corporation’s redemption of Series H Preferred Stock and the proposed simultaneous redemption of the number of Depositary Shares representing the Series H Preferred Stock to be
redeemed by first-class mail, postage prepaid, not less than 30 days and not more than 60 days prior to the date fixed for redemption, in accordance with the Articles, of such Series H Preferred Stock and Depositary Shares (the
“Redemption Date”), to the Record Holders of the Receipts evidencing the Depositary Shares to be so redeemed at their respective last addresses as they appear on the records of the Depositary; provided, however, that neither failure
to mail any such notice of redemption of Depositary Shares to one or more such Holders nor any defect in any notice of redemption of Depositary Shares to one or more such Holders shall affect the sufficiency of the proceedings for redemption as to
the other Holders. Each such notice shall be prepared by the Corporation and shall state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such Holder are
to be redeemed, the number of such Depositary Shares held by such Holder to be so redeemed; (iii) the redemption price; (iv) the place or places where Receipts evidencing such Depositary Shares are to be surrendered for payment of the
redemption price; and (v) that dividends in respect of the Series H Preferred Stock represented by such Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case less than all the outstanding Depositary Shares
are to be redeemed, the Depositary Shares to be so redeemed shall be selected either pro rata or by lot or in such other manner as the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors of the
Corporation may determine to be fair and equitable. 

  
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 Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date
(unless the Corporation shall have failed to provide the funds necessary to redeem the Series H Preferred Stock evidenced by the Depositary Shares called for redemption) (i) declared but unpaid dividends on the shares of Series H
Preferred Stock so called for Redemption shall cease to accrue from and after such date, (ii) the Depositary Shares being redeemed from such proceeds shall be deemed no longer to be outstanding, (iii) all rights of the Holders of Receipts
evidencing such Depositary Shares (except the right to receive the redemption price) shall, to the extent of such Depositary Shares, cease and terminate, and (iv) upon surrender in accordance with such redemption notice of the Receipts
evidencing any such Depositary Shares called for redemption (properly endorsed or assigned for transfer, if the Depositary or applicable law shall so require), such Depositary Shares shall be redeemed by the Depositary at a redemption price per
Depositary Share equal to one-fortieth of the redemption price per share of the Series H Preferred Stock so redeemed plus all money and other property, if any, represented by such Depositary Shares, including all amounts paid by the Corporation
in respect of dividends which on the Redemption Date have been declared on the shares of Series H Preferred Stock to be so redeemed and have not theretofore been paid. 
 If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to the Holder of such Receipt upon its surrender to the Depositary, together with
the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not called for redemption. 
 Section 2.9. Receipts Issuable in Global Registered Form. 
 If the
Corporation shall determine in a writing delivered to the Depositary that the Receipts are to be issued in whole or in part in the form of one or more Global Registered Receipts, then the Depositary shall, in accordance with the other provisions of
this Deposit Agreement, execute and deliver one or more Global Registered Receipts evidencing such Receipts, which (i) shall represent, and shall be denominated in an amount equal to the aggregate number of, the Receipts to be represented by
such Global Registered Receipt or Receipts and (ii) shall be registered in the name of the Global Receipt Depository therefor or its nominee. 
 Notwithstanding any other provision of this Deposit Agreement to the contrary, unless otherwise provided in the Global Registered Receipt, a Global Registered Receipt may only be transferred in whole and
only by the applicable Global Receipt Depository for such Global Registered Receipt to a nominee of such Global Receipt Depository, or by a nominee of such Global Receipt Depository to such Global Receipt Depository or another nominee of such Global
Receipt Depository, or by such Global Receipt Depository or any such nominee to a successor Global Receipt Depository for such Global Registered Receipt selected or approved by the Corporation or to a nominee of such successor Global Receipt
Depository. Except as provided below, owners solely of beneficial interests in a Global Registered Receipt shall not be entitled to receive physical delivery of the Receipts represented by such Global Registered Receipt. Neither any such beneficial
owner nor any direct or indirect participant of a Global Receipt Depository shall have any rights under this Deposit Agreement with respect to any Global Registered Receipt held on their behalf by a Global Receipt Depository and such Global Receipt
Depository may be treated by the Corporation, the Depositary, any Depositary’s Agent and any director, officer, employee or agent of the Corporation, the Depositary or any Depositary’s Agent as the holder of such Global Registered Receipt
for all purposes whatsoever. 

  
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 Unless and until definitive Receipts are delivered to the owners of the beneficial interests
in a Global Registered Receipt, (1) the applicable Global Receipt Depository will make book-entry transfers among its participants and receive and transmit all payments and distributions in respect of the Global Registered Receipts to such
participants, in each case, in accordance with its applicable procedures and arrangements, and (2) whenever any notice, payment or other communication to the Holders of Global Registered Receipts is required under this Deposit Agreement, the
Corporation and the Depositary shall give all such notices, payments and communications specified herein to be given to such holders to the applicable Global Receipt Depository. 

If an Exchange Event has occurred with respect to any Global Registered Receipt, then, in any such event, the Depositary shall, upon
receipt of a written order from the Corporation for the execution and delivery of individual definitive registered Receipts in exchange for such Global Registered Receipt, execute and deliver individual definitive registered Receipts, in authorized
denominations and of like tenor and terms in an aggregate number of Receipts represented thereby equal to the number of Receipts represented by the Global Registered Receipt surrendered in exchange for such Global Registered Receipt. 

Definitive registered Receipts issued in exchange for a Global Registered Receipt pursuant to this Section shall be registered in such
names and in such authorized denominations as the Global Receipt Depository for such Global Registered Receipt shall instruct the Depositary in writing. The Depositary shall deliver such Receipts to the persons in whose names such Receipts are so
registered. 
 Notwithstanding anything to the contrary in this Deposit Agreement, should the Corporation determine that the
Receipts should be issued as a Global Registered Receipt, the parties hereto shall comply with the terms of each Letter of Representations. 
 ARTICLE III 
 CERTAIN OBLIGATIONS OF 

HOLDERS OF RECEIPTS AND THE CORPORATION 
 Section 3.1. Filing Proofs, Certificates and Other Information. 
 Any
Holder of a Receipt may be required from time to time to file such proof of residence, or other matters or other information, to execute such certificates and to make such representations and warranties as the Depositary or the Corporation may
reasonably deem necessary or proper. The Depositary or the Corporation may withhold the delivery, or delay the registration of transfer or redemption, of any Receipt or the withdrawal of the Series H Preferred Stock represented by the
Depositary Shares and evidenced by a Receipt or the distribution of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof or other information is filed or such certificates are executed or such
representations and warranties are made. 

  
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 Section 3.2. Payment of Taxes or Other Governmental Charges.

 Holders of Receipts shall be obligated to make payments to the Depositary of certain charges and expenses, as provided in
Section 5.7. Registration of transfer of any Receipt or any withdrawal of Series H Preferred Stock and all money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused until any such
payment due is made, and any dividends or other distributions (including of any liquidation preference) may be withheld or any part of or all the Series H Preferred Stock or other property represented by the Depositary Shares evidenced by such
Receipt and not theretofore sold may be sold for the account of the Holder thereof (after attempting by reasonable means to notify such Holder prior to such sale), and such dividends or other distributions (including of any liquidation preference)
or the proceeds of any such sale may be applied to any payment of such charges or expenses, the Holder of such Receipt remaining liable for any deficiency. 
 Section 3.3. Warranty as to Series H Preferred Stock. 
 The Corporation
hereby represents and warrants that the Series H Preferred Stock, when issued, will be duly authorized, validly issued, fully paid and nonassessable. Such representation and warranty shall survive the deposit of the Series H Preferred
Stock and the issuance of the related Receipts. 
 Section 3.4. Warranty as to Receipts. 

The Corporation hereby represents and warrants that the Receipts, when issued, will represent legal and valid interests in the
Series H Preferred Stock. Such representation and warranty shall survive the deposit of the Series H Preferred Stock and the issuance of the Receipts. 
 ARTICLE IV 
 THE DEPOSITED SECURITIES; NOTICES 

Section 4.1. Cash Distributions. 
 Whenever the Depositary shall receive any cash dividend or other cash distribution on the Series H Preferred Stock, the Depositary shall, subject to Sections 3.1 and 3.2, distribute to Record
Holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of such dividend or distribution as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by
such Holders; provided, however, that in case the Corporation or the Depositary shall be required to withhold and shall withhold from any cash dividend or other cash distribution in respect of the Series H Preferred Stock an amount on account
of taxes, the amount made available for distribution or distributed in respect of Depositary Shares shall be reduced accordingly. The Depositary shall distribute or make available for distribution, as the case may be, only such amount, however, as
can be distributed without attributing to any Holder of Receipts a fraction of one cent, and any balance not so distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to and be treated as part of
the next sum received by the Depositary for distribution to Record Holders of Receipts then outstanding. Each Holder of a Receipt shall provide the Depositary with its certified tax identification number on a properly completed Form W-8

  
 -10-

 
or W-9, as may be applicable. Each Holder of a Receipt acknowledges that, in the event of non-compliance with the preceding sentence, the Internal Revenue Code of 1986, as amended, may require
withholding by the Depositary of a portion of any of the distributions to be made hereunder. 

Section 4.2. Distributions Other than Cash, Rights, Preferences or Privileges. 

Whenever the Depositary shall receive any distribution other than cash, rights, preferences or privileges upon the Series H Preferred
Stock, the Depositary shall, at the direction of the Corporation, subject to Sections 3.1 and 3.2, distribute to Record Holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the securities or property
received by it as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by such Receipts held by such Holders, in any manner that the Depositary may deem equitable and practicable for accomplishing
such distribution. If in the opinion of the Depositary such distribution cannot be made proportionately among such Record Holders in accordance with the direction of the Corporation, or if for any other reason (including any requirement that the
Corporation or the Depositary withhold an amount on account of taxes) the Depositary deems, after consultation with the Corporation, such distribution not to be feasible, the Depositary may, with the approval of the Corporation, adopt such method as
it deems equitable and practicable for the purpose of effecting such distribution, including the sale (at public or private sale) of the securities or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds
of any such sale shall, subject to Sections 3.1 and 3.2, be distributed or made available for distribution, as the case may be, by the Depositary to Record Holders of Receipts as provided by Section 4.1 in the case of a distribution
received in cash. The Corporation shall not make any distribution of such securities or property to the Depositary and the Depositary shall not make any distribution of such securities or property to the Holders of Receipts unless the Corporation
shall have provided an opinion of counsel stating that such securities or property have been registered under the Securities Act or do not need to be registered in connection with such distributions. 

Section 4.3. Subscription Rights, Preferences or Privileges. 

If the Corporation shall at any time offer or cause to be offered to the persons in whose names the Series H Preferred Stock is
recorded on the books of the Corporation any rights, preferences or privileges to subscribe for or to purchase any securities or any rights, preferences or privileges of any other nature, such rights, preferences or privileges shall in each such
instance be made available by the Depositary to the Record Holders of Receipts in such manner as the Corporation shall instruct the Depositary in writing, either by the issuance to such Record Holders of warrants representing such rights,
preferences or privileges or by such other method as may be approved by the Depositary in its discretion with the approval of the Corporation; provided, however, that (i) if at the time of issue or offer of any such rights, preferences or
privileges the Depositary determines that it is not lawful or (after consultation with the Corporation) not feasible to make such rights, preferences or privileges available to Holders of Receipts by the issuance of warrants or otherwise, or
(ii) if and to the extent so instructed by Holders of Receipts who do not desire to exercise such rights, preferences or privileges, then the Depositary, in its discretion (with approval of the Corporation, in any case where the Depositary has
determined that it is not feasible to make such rights, preferences or 

  
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privileges available), may, if applicable laws or the terms of such rights, preferences or privileges permit such transfer, sell such rights, preferences or privileges at public or private sale,
at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be distributed by the Depositary to the Record Holders of Receipts entitled thereto as provided by
Section 4.1 in the case of a distribution received in cash. 
 The Corporation shall notify the Depositary whether
registration under the Securities Act of the securities to which any rights, preferences or privileges relate is required in order for Holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate,
and the Corporation agrees with the Depositary that it will file promptly a registration statement pursuant to the Securities Act with respect to such securities to which such rights, preferences or privileges relate and use its reasonable best
efforts and take all steps available to it to cause such registration statement to become effective sufficiently in advance of the expiration of such rights, preferences or privileges to enable such Holders to exercise such rights, preferences or
privileges. In no event shall the Depositary make available to the Holders of Receipts any right, preference or privilege to subscribe for or to purchase any securities unless and until such registration statement shall have become effective, or the
Corporation shall have provided to the Depositary an opinion of counsel to the effect that the offering and sale of such securities to the Holders are exempt from registration under the provisions of the Securities Act. 

The Corporation shall notify the Depositary whether any other action under the laws of any jurisdiction or any governmental or
administrative authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to Holders of Receipts, and the Corporation agrees with the Depositary that the Corporation will use its reasonable
best efforts to take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such Holders to exercise such rights, preferences or privileges.

 Section 4.4. Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts. 

Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or if
rights, preferences or privileges shall at any time be offered, with respect to the Series H Preferred Stock, or whenever the Depositary shall receive notice of any meeting at which holders of the Series H Preferred Stock are entitled to
vote or of which holders of the Series H Preferred Stock are entitled to notice, or whenever the Depositary and the Corporation shall decide it is appropriate, the Depositary shall in each such instance fix a record date (which shall be the
same date as the record date fixed by the Corporation with respect to or otherwise in accordance with the terms of the Series H Preferred Stock, as identified to the Depositary by the Corporation) for the determination of the Holders of
Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to give instructions for the exercise of voting rights at any such meeting, or who shall be entitled
to notice of such meeting or for any other appropriate reasons. 

  
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 Section 4.5. Voting Rights. 

Upon receipt of notice of any meeting at which the holders of the Series H Preferred Stock are entitled to vote, the Depositary
shall, as soon as practicable thereafter, mail to the Record Holders of Receipts a notice prepared by the Corporation which shall contain (i) such information as is contained in such notice of meeting and (ii) a statement that the Holders
may, subject to any applicable restrictions, instruct the Depositary as to the exercise of the voting rights pertaining to the amount of Series H Preferred Stock represented by their respective Depositary Shares (including an express indication
that instructions may be given to the Depositary to give a discretionary proxy to a person designated by the Corporation) and a brief statement as to the manner in which such instructions may be given. Upon the written request of the Holders of
Receipts on the relevant record date, the Depositary shall endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions set forth in such requests, the maximum number of whole shares of Series H Preferred
Stock represented by the Depositary Shares evidenced by all Receipts as to which any particular voting instructions are received. The Corporation hereby agrees to take all reasonable action which may be deemed necessary by the Depositary in order to
enable the Depositary to vote such Series H Preferred Stock or cause such Series H Preferred Stock to be voted. In the absence of specific instructions from Holders of Receipts, the Depositary will vote, to the extent permitted by the
rules of the New York Stock Exchange or any other applicable regulatory body, the Series H Preferred Stock represented by the Depositary Shares evidenced by the Receipts of such Holders proportionately with votes cast pursuant to instructions
received from the other Holders. 
 Section 4.6. Changes Affecting Deposited Securities and
Reclassifications, Recapitalizations, etc. 
 Upon any change in par or stated value, split-up, combination or any other
reclassification of the Series H Preferred Stock or upon any recapitalization, reorganization, merger or consolidation affecting the Corporation or to which it is a party, the Depositary may in its discretion with the approval of, and shall
upon the instructions of, the Corporation, and (in either case) in such manner as the Depositary may deem equitable, (i) make such adjustments as are certified by the Corporation in the fraction of an interest represented by one Depositary
Share in one share of Series H Preferred Stock and in the ratio of the redemption price per Depositary Share to the redemption price per share of Series H Preferred Stock, in each case as may be necessary fully to reflect the effects of
such change in par or stated value, split-up, combination or other reclassification of the Series H Preferred Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received
by the Depositary in exchange for or upon conversion of or in respect of the Series H Preferred Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Series H Preferred Stock. In any such
case, the Depositary may in its discretion, with the approval of the Corporation, execute and deliver additional Receipts or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new
deposited securities. Anything to the contrary herein notwithstanding, Holders of Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the
Series H Preferred Stock or any such recapitalization, reorganization, merger or consolidation to surrender such Receipts to the Depositary with instructions to convert, exchange or surrender the Series H Preferred Stock

  
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represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the Series H Preferred Stock represented by such
Receipts might have been converted or for which such Series H Preferred Stock might have been exchanged or surrendered immediately prior to the effective date of such transaction. 

Section 4.7. Delivery of Reports. 
 The Depositary shall furnish to Holders of Receipts any reports and communications received from the Corporation which are received by the Depositary and which the Corporation is required to furnish to
the holders of the Series H Preferred Stock. 
 Section 4.8. Lists of Receipt Holders.

 Reasonably promptly upon request from time to time by the Corporation, at the sole expense of the Corporation, the Depositary
shall furnish to it a list, as of the most recent practicable date, of the names, addresses and holdings of Depositary Shares of all registered Holders of Receipts. 
 ARTICLE V 
 THE DEPOSITARY, THE DEPOSITARY’S 

AGENTS, THE REGISTRAR AND THE CORPORATION 
 Section 5.1. Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar. 
 Upon execution of this Deposit Agreement, the Depositary shall maintain at the Depositary’s Office facilities for the execution and delivery, registration and registration of transfer, surrender and
exchange of Receipts, and at the offices of the Depositary’s Agents, if any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all in accordance with the provisions of this Deposit Agreement. 

The Depositary shall keep books at the Depositary’s Office for the registration and registration of transfer, surrender and exchange
of Receipts, which books at all reasonable times shall be open for inspection by the Record Holders of Receipts; provided that any such Holder requesting to exercise such right shall certify to the Depositary that such inspection shall be for a
proper purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts. 

The Depositary may close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of
its duties hereunder. 
 The Depositary may, with the approval of the Corporation, appoint a Registrar for registration of the
Receipts or the Depositary Shares evidenced thereby. If the Receipts or the Depositary Shares evidenced thereby or the Series H Preferred Stock represented by such Depositary Shares shall be listed on one or more national securities exchanges,
the Depositary will appoint a Registrar (acceptable to the Corporation) for registration of the Receipts or Depositary Shares in accordance with any requirements of such exchange. Such Registrar (which may be the Depositary if so permitted by the
requirements of any such exchange) may be 

  
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removed and a substitute registrar appointed by the Depositary upon the request or with the approval of the Corporation. If the Receipts, Depositary Shares or Series H Preferred Stock are
listed on one or more other securities exchanges, the Depositary will, at the request of the Corporation, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of the Receipts, Depositary Shares or
Series H Preferred Stock as may be required by law or applicable securities exchange regulation. 

Section 5.2. Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar
or the Corporation. 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation shall
incur any liability to any Holder of a Receipt if by reason of any provision of any present or future law, or regulation thereunder, of the United States of America or of any other governmental authority or, in the case of the Depositary, the
Depositary’s Agent or the Registrar, by reason of any provision, present or future, of the Corporation’s Restated Articles of Incorporation (including the Articles) or by reason of any act of God or war or other circumstance beyond the
control of the relevant party, the Depositary, the Depositary’s Agent, the Registrar or the Corporation shall be prevented or forbidden from, or subjected to any penalty on account of, doing or performing any act or thing which the terms of
this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, any Registrar or the Corporation incur liability to any Holder of a Receipt (i) by reason of any nonperformance or delay, caused
as aforesaid, in the performance of any act or thing which the terms of this Deposit Agreement provide shall or may be done or performed, or (ii) by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit
Agreement except as otherwise explicitly set forth in this Deposit Agreement. 
 Section 5.3.
Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Corporation. 
 None of the Depositary,
any Depositary’s Agent, any Registrar or the Corporation assumes any obligation or shall be subject to any liability under this Deposit Agreement to Holders of Receipts other than for its negligence, willful misconduct or bad faith.
Notwithstanding anything in this Deposit Agreement to the contrary, neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Corporation shall be liable in any event for special, punitive, incidental, indirect or
consequential losses or damages of any kind whatsoever (including but not limited to lost profits). 
 None of the Depositary,
any Depositary’s Agent, any Registrar or the Corporation shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of the Series H Preferred Stock, the Depositary Shares or the Receipts
which in its opinion may involve it in expense or liability unless indemnity satisfactory to it against all expense and liability be furnished as often as may be required. 
 None of the Depositary, any Depositary’s Agent, any Registrar or the Corporation shall be liable for any action or any failure to act by it in reliance upon the written advice of legal counsel or
accountants, or information from any person presenting Series H Preferred Stock for deposit, any Holder of a Receipt or any other person believed by it in good faith to be competent 

  
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to give such information. The Depositary, any Depositary’s Agent, any Registrar and the Corporation may each rely and shall each be protected in acting upon or omitting to act upon any
written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 The Depositary will indemnify the Corporation (including each of their officers, directors and employees) against any liability which may directly arise out of acts performed or omitted by the Depositary
or any Depositary Agent due to its or their negligence, willful misconduct or bad faith. 
 The Depositary shall not be
responsible for any failure to carry out any instruction to vote any of the shares of Series H Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action is not taken in bad faith. The Depositary
undertakes, and any Registrar shall be required to undertake, to perform such duties and only such duties as are specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement
against the Depositary or any Registrar. 
 The Depositary, any Depositary’s Agents and any Registrar may own and deal in
any class of securities of the Corporation and its affiliates and in Receipts. The Depositary may also act as transfer agent or registrar of any of the securities of the Corporation and its affiliates. 

The Depositary shall not be under any liability for interest on any monies at any time received by it pursuant to any of the provisions
of this Deposit Agreement or of the Receipts, the Depositary Shares or the Series H Preferred Stock nor shall it be obligated to segregate such monies from other monies held by it, except as required by law. The Depositary shall not be
responsible for advancing funds on behalf of the Corporation and shall have no duty or obligation to make any payments if it has not timely received sufficient funds to make timely payments. 

In the event the Depositary believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or
other communication, paper or document received by the Depositary hereunder, or in the administration of any of the provisions of this Deposit Agreement, or the Depositary shall deem it necessary or desirable that a matter be proved or established
prior to taking, omitting or suffering to take any action hereunder, the Depositary may, in its sole discretion upon written notice to the Corporation, refrain from taking any action and shall be fully protected and shall not be liable in any way to
the Corporation, any Holders of Receipts or any other person or entity for refraining from taking such action, unless the Depositary receives written instructions or a certificate signed by the Corporation which eliminates such ambiguity or
uncertainty to the satisfaction of the Depositary or which proves or establishes the applicable matter to the satisfaction of the Depositary. The Depositary shall not be liable to the Corporation or any Holder of Receipts for any action taken by it
in accordance with the written instruction of the Corporation or the Holders of Receipts. 

  
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 Section 5.4. Resignation and Removal of the Depositary; Appointment
of Successor Depositary. 
 The Depositary may at any time resign as Depositary hereunder by delivering notice of its
election to do so to the Corporation, such resignation to take effect upon the appointment of a successor Depositary and its acceptance of such appointment as hereinafter provided. 

The Depositary may at any time be removed by the Corporation by notice of such removal delivered to the Depositary, such removal to take
effect upon the appointment of a successor Depositary hereunder and its acceptance of such appointment as hereinafter provided. 

In case at any time the Depositary acting hereunder shall resign or be removed, the Corporation shall, within 60 days after the
delivery of the notice of resignation or removal, as the case may be, appoint a successor Depositary, which shall be a bank or trust company having its principal office in the United States of America and having a combined capital and surplus of at
least $50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment within 60 days after delivery of such notice, the resigning or removed Depositary may petition any court of competent jurisdiction for the
appointment of a successor Depositary. Every successor Depositary shall execute and deliver to its predecessor and to the Corporation an instrument in writing accepting its appointment hereunder, and thereupon such successor Depositary, without any
further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it
and on the written request of the Corporation, shall promptly execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest
in the Series H Preferred Stock and any moneys or property held hereunder to such successor, and shall deliver to such successor a list of the Record Holders of all outstanding Receipts and such records, books and other information in its
possession relating thereto. Any successor Depositary shall promptly mail notice of its appointment to the Record Holders of Receipts. 
 Any entity into or with which the Depositary may be merged, consolidated or converted shall be the successor of the Depositary without the execution or filing of any document or any further act, and
notice thereof shall not be required hereunder. Such successor Depositary may authenticate the Receipts in the name of the predecessor Depositary or its own name as successor Depositary. 

Section 5.5. Corporate Notices and Reports. 

The Corporation agrees that it will deliver to the Depositary, and the Depositary will, promptly after receipt thereof, transmit to the
Record Holders of Receipts, in each case at the addresses recorded in the Depositary’s books, copies of all notices and reports (including without limitation financial statements) required by law, by the rules of any national securities
exchange upon which the Series H Preferred Stock, the Depositary Shares or the Receipts are listed or by the Corporation’s Restated Articles of Incorporation (including the Articles), to be furnished to the Record Holders of Receipts. Such
transmission will be at the Corporation’s 

  
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expense and the Corporation will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the
Record Holders of Receipts at the Corporation’s expense such other documents as may be requested by the Corporation. 
 Section 5.6. Indemnification by the Corporation. 
 Notwithstanding
Section 5.3 to the contrary, the Corporation shall indemnify the Depositary, any Depositary’s Agent and any Registrar (including each of their officers, directors, agents and employees) against, and hold each of them harmless from, any
loss, damage, cost, penalty, liability or expense (including the reasonable costs and expenses of defending itself) which may arise out of acts performed, suffered or omitted to be taken in connection with this Deposit Agreement and the Receipts by
the Depositary, any Registrar or any of their respective agents (including any Depositary’s Agent) and any transactions or documents contemplated hereby, except for any liability arising out of negligence, willful misconduct or bad faith on the
respective parts of any such person or persons. The obligations of the Corporation set forth in this Section 5.6 shall survive any succession of any Depositary, Registrar or Depositary’s Agent. 

Section 5.7. Fees, Charges and Expenses. 

The Corporation agrees promptly to pay the Depositary the compensation to be agreed upon with the Corporation for all services rendered by
the Depositary hereunder and to reimburse the Depositary for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the Depositary without negligence, willful misconduct or bad faith on its part (or on the
part of any agent or Depositary Agent) in connection with the services rendered by it (or such agent or Depositary Agent) hereunder. The Corporation shall pay all charges of the Depositary in connection with the initial deposit of the Series H
Preferred Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of Series H Preferred Stock by owners of Depositary Shares, and any redemption or exchange of the Series H Preferred Stock at the option of the
Corporation. The Corporation shall pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. All other transfer and other taxes and governmental charges shall be at the expense of
Holders of Depositary Shares evidenced by Receipts. If, at the request of a Holder of Receipts, the Depositary incurs charges or expenses for which the Corporation is not otherwise liable hereunder, such Holder will be liable for such charges and
expenses; provided, however, that the Depositary may, at its sole option, require a Holder of a Receipt to prepay the Depositary any charge or expense the Depositary has been asked to incur at the request of such Holder of Receipts. The Depositary
shall present its statement for charges and expenses to the Corporation at such intervals as the Corporation and the Depositary may agree. 
 ARTICLE VI 
 AMENDMENT AND TERMINATION 

Section 6.1. Amendment. 
 The form of the Receipts and any provisions of this Deposit Agreement may at any time and from time to time be amended by agreement between the Corporation and the

  
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Depositary in any respect which they may deem necessary or desirable; provided, however, that no such amendment which shall materially and adversely alter the rights of the Holders of Receipts
shall be effective unless such amendment shall have been approved by the Holders of Receipts representing in the aggregate a majority (or, in the case of amendments relating to or affecting rights to receive dividends or distributions or voting or
redemption rights, at least two-thirds) of the Depositary Shares then outstanding. Every Holder of an outstanding Receipt at the time any such amendment becomes effective shall be deemed, by continuing to hold such Receipt, to consent and agree to
such amendment and to be bound by this Depositary Agreement as amended thereby. In no event shall any amendment impair the right, subject to the provisions of Sections 2.5 and 2.6 and Article III, of any owner of Depositary Shares to surrender
any Receipt evidencing such Depositary Shares to the Depositary with instructions to deliver to the Holder the Series H Preferred Stock and all money and other property, if any, represented thereby, except in order to comply with mandatory
provisions of applicable law or the rules and regulations of any governmental body, agency or commission, or applicable securities exchange. 
 Section 6.2. Termination. 
 This Deposit Agreement may be terminated by
the Corporation at any time upon not less than 60 days prior written notice to the Depositary, in which case, at least 30 days prior to the date fixed in such notice for such termination, the Depositary will mail notice of such termination to the
Record Holders of all Receipts then outstanding. If any Receipts shall remain outstanding after the date of termination of this Deposit Agreement, the Depositary thereafter shall discontinue the transfer of Receipts, shall suspend the distribution
of dividends to the Holders thereof and shall not give any further notices (other than notice of such termination) or perform any further acts under this Deposit Agreement, except that the Depositary shall continue to collect dividends and other
distributions pertaining to Series H Preferred Stock, shall sell rights, preferences or privileges as provided in this Deposit Agreement and shall deliver the number of whole or fractional shares of Series H Preferred Stock and any money
and other property, if any, represented by Receipts upon surrender thereof by the Holders thereof. At any time after the expiration of two years from the date of termination, the Depositary may sell Series H Preferred Stock then held hereunder
at public or private sale, at such places and upon such terms as it deems proper and may thereafter hold the net proceeds of any such sale, together with any money and other property held by it hereunder, without liability for interest, for the
benefit, pro rata in accordance with their holdings, of the Holders of Receipts that have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations under this Deposit Agreement except to
account for such net proceeds and money and other property, and it obligations to the Corporation under Section 5.3. 

This Deposit Agreement shall terminate automatically if (i) all outstanding Depositary Shares issued hereunder have been redeemed
pursuant to Section 2.8 or (ii) there shall have been made a final distribution in respect of the Series H Preferred Stock in connection with any liquidation, dissolution or winding up of the Corporation and such distribution shall
have been distributed to the Holders of Receipts representing Depositary Shares pursuant to Section 4.1 or 4.2, as applicable. 

  
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 Upon the termination of this Deposit Agreement, the Corporation shall be discharged from all
obligations under this Deposit Agreement except for its obligations to the Depositary, any Depositary’s Agent and any Registrar under Sections 5.6 and 5.7. 
 ARTICLE VII 
 MISCELLANEOUS 

Section 7.1. Counterparts. 
 This Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be
deemed an original, but all such counterparts taken together shall constitute one and the same instrument. 

Section 7.2. Benefit of this Deposit Agreement. 

Nothing in this Deposit Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be
construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Record Holders any right, remedy or claim under or by reason of this Deposit Agreement or of any covenant, condition, stipulation, promise or
agreement hereof, and all covenants, conditions, stipulations, promises and agreements in this Deposit Agreement contained shall be for the sole and exclusive benefit of the parties hereto and their successors and of the Record Holders. 

Section 7.3. Invalidity of Provisions. 

In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby. 

Section 7.4. Notices. 
 Any and all notices to be given to the Corporation hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by telegram
or facsimile transmission or electronic mail, confirmed by letter, addressed to the Corporation at 
 Zions Bancorporation

 One South Main Street, 15th Floor 
 Salt Lake City, Utah 84133 
 Attn: Secretary 

Fax:   (801) 524-2129 
 or at any other addresses of which the Corporation shall have notified the Depositary in writing. 

  
 -20-

 Any and all notices to be given to the Depositary hereunder or under the Receipts shall be
in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office at 

Zions First National Bank 
 One South Main Street, Suite 1200 
 Salt Lake City, Utah 84133 

Attn:  Corporate Trust 
 Fax:    (801) 594-8018 
 or at any other address of which the Depositary
shall have notified the Corporation in writing. 
 Any and all notices to be given to any Record Holder of a Receipt hereunder
or under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail or facsimile transmission or confirmed by letter, addressed to such Record Holder at the address of such Record Holder as
it appears on the books of the Depositary, or if such Holder shall have timely filed with the Depositary a written request that notices intended for such Holder be mailed to some other address, at the address designated in such request. 

Delivery of a notice sent by mail or by facsimile transmission shall be deemed to be effected at the time when a duly addressed letter
containing the same (or a confirmation thereof in the case of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The Depositary or the Corporation may, however, act upon any facsimile transmission received by it
from the other or from any Holder of a Receipt, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 
 Section 7.5. Depositary’s Agents. 
 The Depositary may from time
to time appoint Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such
Depositary’s Agents. The Depositary will promptly notify the Corporation of any such action. 

Section 7.6. Appointment of Registrar and Transfer Agent in Respect of the Receipts. 

The Corporation hereby appoints the Depositary as registrar and transfer agent in respect of the Receipts and the Depositary hereby
accepts such appointments. With respect to the appointments of the Depositary as registrar and transfer agent in respect of the Receipts, each of the Corporation and the Depositary, in their respective capacities under such appointments, shall be
entitled to the same rights, indemnities, immunities and benefits as the Corporation and Depositary (in its capacity as the Depositary) hereunder, respectively, as if explicitly named in each such provision. 

  
 -21-

 Section 7.7. Holders of Receipts Are Parties. 

The Holders of Receipts from time to time shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions
hereof and of the Receipts and of the Officer’s Certificate by acceptance of delivery thereof. 

Section 7.8. Governing Law. 
 This Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and construed in accordance with, the laws of the State of New York
without giving effect to applicable conflicts of law principles. 
 Section 7.9. Inspection of Deposit
Agreement. 
 Copies of this Deposit Agreement shall be filed with the Depositary and the Depositary’s Agents and shall
be open to inspection during business hours at the Depositary’s Office and the respective offices of the Depositary’s Agents, if any, by any Holder of a Receipt. 

Section 7.10. Headings. 
 The headings of articles and sections in this Deposit Agreement have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or to have any
bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 
 [Remainder of page
intentionally left blank; signature page follows.] 

  
 -22-

 IN WITNESS WHEREOF, the Corporation and the Depositary have duly executed this Deposit
Agreement as of the day and year first above set forth, and all Holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

					
	ZIONS BANCORPORATION
		
	By:	 	  

		 	Name:	 	W. David Hemingway
		 	Title:	 	Executive Vice President
	
	 ZIONS FIRST NATIONAL BANK,
 as Depositary

		
	By:	 	  

		 	Name:	 	Shelene Brown
		 	Title:	 	Authorized Officer

 [Deposit Agreement] 

 EXHIBIT A 
 [FORM OF FACE OF RECEIPT] 
 UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ZIONS BANCORPORATION 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 DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), 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. 

DEPOSITARY SHARES 

DR 
 DEPOSITARY
RECEIPT FOR DEPOSITARY SHARES, EACH 
 REPRESENTING ONE-FORTIETH OF ONE SHARE OF 

SERIES H FIXED-RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK OF 

ZIONS BANCORPORATION 
 INCORPORATED UNDER THE LAWS OF THE STATE OF UTAH 
 CUSIP 989701 834 

Zions First National Bank, as Depositary (the “Depositary”), hereby certifies that Cede & Co. is the registered owner
of              Depositary Shares (“Depositary Shares”), each Depositary Share representing one-fortieth of one share of Series H Fixed-Rate Non-Cumulative Perpetual
Preferred Stock, without par value, with a liquidation preference of $1,000 per share (the “Series H Preferred Stock”), of Zions Bancorporation, a Utah corporation (the “Corporation”), on deposit with the Depositary, subject
to the terms and entitled to the benefits of the Deposit Agreement dated as of May 3, 2013 (the “Deposit Agreement”), among the Corporation, the Depositary and the Holders from time to time of receipts evidencing Depositary Shares
(“Receipts”). By accepting this Receipt, the Holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Receipt shall not be valid or obligatory for any purpose or entitled to any
benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual signature of a duly authorized officer or, if executed in facsimile by the Depositary, countersigned by a Registrar in respect of the Depositary
Receipts by the manual signature of a duly authorized officer thereof. 
  

			
	Dated:
	
	 ZIONS FIRST NATIONAL BANK,
 as Depositary

		
	By:	 	  

		 	Authorized Officer

  
 A-1

 [FORM OF REVERSE OF RECEIPT] 

ZIONS BANCORPORATION 
 The Corporation will furnish without charge to each receiptholder who so requests a copy of the Deposit Agreement and a copy or summary of the Articles of Amendment relating to the Series H Preferred
Stock. Any such request is to be addressed to the Depositary named on the face of this Receipt. 
 The Corporation will furnish
without charge to each receiptholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation, and the qualifications, limitations
or restrictions of such preferences and/or rights. Such request may be made to the Corporation or to the Registrar. 

EXPLANATION OF ABBREVIATIONS 
 The following abbreviations when used in the form of ownership on the face of this Receipt shall be construed as though they were written out in full according to applicable laws or regulations.
Abbreviations in addition to those appearing below may be used. 
  

							
	 Abbreviation
	 	 Equivalent Phrase
	 	 Abbreviation
	 	 Equivalent Phrase

	JT TEN	 	As joint tenants, with right of survivorship and not as tenants in common	 	TEN BY ENT	 	As tenants by the entireties
	TEN IN COM	 	As tenants in common	 	UNIF GIFT MIN ACT	 	Uniform Gifts to Minors Act

  

											
	 Abbreviation
	 	 Equivalent Word
	 	 Abbreviation
	 	 Equivalent Word
	 	 Abbreviation
	 	 Equivalent Word

	ADM	 	Administrator(s), Administratrix	 	 EX
	 	Executor(s), Executrix	 	PAR	 	Paragraph
	AGMT	 	Agreement	 	FBO	 	For the benefit of	 	PL	 	Public Law
	ART	 	Article	 	FDN	 	Foundation	 	TR	 	(As) trustee(s), for, of
	CH	 	Chapter	 	GDN	 	Guardian(s)	 	U	 	Under
	CUST	 	Custodian for	 	GDNSHP	 	Guardianship	 	UA	 	Under agreement
	DEC	 	Declaration	 	MIN	 	Minor(s)	 	UW	 	Under will of, Of will of, Under last will & testament
	EST	 	Estate, of Estate of	 		 		 		 	

  
 A-2

 For value received,
                     hereby sell(s), assign(s) and transfer(s) unto 
  

 
  

INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
 PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

             Depositary Shares represented by the within Receipt, and do(es) hereby
irrevocably constitute and appoint
                                         Attorney
to transfer the said Depositary Shares on the books of the within named Depositary with full power of substitution in the premises. 
 Dated:

 NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without
alteration or enlargement or any change whatsoever. 
 SIGNATURE GUARANTEED 
 NOTICE: If applicable, the signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and credit unions with membership in an approved
signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 A-3

 EXHIBIT B 
 ARTICLES OF AMENDMENT 

  
 B-1

 EXHIBIT C 
 FORM OF OFFICER’S CERTIFICATE 
 I,
                                         [name],
                     [title] of Zions Bancorporation (the “Corporation”), hereby certify that pursuant to the terms of the Articles of
Amendment filed with the Utah Division of Corporations and Commercial Code on April 30, 2013 (the “Articles of Amendment”), and pursuant to resolutions adopted by the Board of Directors of the Corporation (the “Board of
Directors”) on January 25, 2013, the Corporation has established the Series H Fixed-Rate Non-Cumulative Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share (the “Series H Preferred
Stock”), which the Corporation desires to deposit with the Depositary for the purposes of being subject to the terms and conditions of the Deposit Agreement, dated as of May 3, 2013, by and among the Corporation, Zions First National Bank
and the Holders of Receipts issued thereunder from time to time (the “Deposit Agreement”). In connection therewith, the Board of Directors or a duly authorized committee thereof or an authorized officer of the Corporation has authorized
the terms and conditions with respect to the Series H Preferred Stock as described in the Articles of Amendment attached as Annex A hereto. Any terms of the Series H Preferred Stock that are not so described in the Articles of Amendment
and any terms of the Receipts representing such Series H Preferred Stock that are not described in the Deposit Agreement are described below: 
 Aggregate Number of shares of Series H Preferred Stock issued on the day hereof: [—] 
 CUSIP Number for Receipt: 989701 834 
 Denomination of Depositary Share per share of Series H
Preferred Stock: 1/40th of a share of Series H Preferred Stock 
 Redemption Provisions (if different than as set forth in the Deposit
Agreement): N/A 
 Name of Global Receipt Depositary: The Depository Trust Company 
 Name of Registrar and Transfer Agent with Respect to the Receipts: Zions First National Bank 

Name of Registrar and Transfer Agent with Respect to the Series H Preferred Stock: Zions First National Bank 

Special terms and conditions: None 
 Closing
date: [—] 
 All capitalized terms used but not defined herein shall have such
meaning as ascribed thereto in the Deposit Agreement. 

  
 C-1

 This certificate is dated [—]. 

 

	
	  

	Name:
	Title:

  
 C-2EX-10.1

 Exhibit 10.1 
 TREX COMPANY, INC. 
 2005 STOCK INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
			
	 1.
	  	 PURPOSE
	  	 	1	  
	 2.
	  	 DEFINITIONS
	  	 	1	  
	 3.
	  	 ADMINISTRATION OF THE PLAN
	  	 	4	  
		  	3.1.	  	 Board
	  	 	4	  
		  	3.2.	  	 Committee
	  	 	4	  
		  	3.3.	  	 Grants
	  	 	4	  
		  	3.4.	  	 No Liability
	  	 	5	  
		  	3.5.	  	 Applicability of Rule 16b-3
	  	 	5	  
		  	3.6.	  	 Termination of Employment or Other Relationship
	  	 	5	  
	 4.
	  	 STOCK SUBJECT TO THE PLAN
	  	 	6	  
		  	4.1.	  	 Aggregate Limitation
	  	 	6	  
		  	4.2.	  	 Application of Aggregate Limitation
	  	 	7	  
		  	4.3.	  	 Per-Grantee Limitation
	  	 	7	  
	 5.
	  	 EFFECTIVE DATE AND TERM OF THE PLAN
	  	 	8	  
		  	5.1.	  	 Effective Date
	  	 	8	  
		  	5.2.	  	 Term
	  	 	8	  
	 6.
	  	 PERMISSIBLE GRANTEES
	  	 	8	  
		  	6.1.	  	 Employees and Service Providers
	  	 	8	  
		  	6.2.	  	 Multiple Grants
	  	 	8	  
		  	6.3.	  	 LIMITATIONS ON GRANTS OF INCENTIVE STOCK OPTIONS
	  	 	8	  
	 7.
	  	 AWARD AGREEMENT
	  	 	9	  
	 8.
	  	 OPTIONS
	  	 	9	  
		  	8.1.	  	 Option Price
	  	 	9	  
		  	8.2.	  	 Vesting
	  	 	9	  
		  	8.3.	  	 Option Term
	  	 	9	  
		  	8.4.	  	 Termination of Employment or Other Relationship for a Reason Other than Retirement, Death or Disability
	  	 	10	  
		  	8.5.	  	 Rights in the Event of Death
	  	 	10	  
		  	8.6.	  	 Rights in the Event of Disability
	  	 	10	  
		  	8.7.	  	 Rights in the Event of Retirement
	  	 	10	  
		  	8.8.	  	 Limitations on Exercise of Option
	  	 	11	  
		  	8.9.	  	 Method of Exercise
	  	 	11	  
		  	8.10.	  	 Rights as a Stockholder; Dividend Equivalents
	  	 	11	  
		  	8.11.	  	 Delivery of Stock Certificates
	  	 	11	  
	 9.
	  	 STOCK APPRECIATION RIGHTS
	  	 	12	  
		  	9.1.	  	 SAR Price
	  	 	12	  
		  	9.2.	  	 Vesting, and Terms and Conditions Governing SARs
	  	 	12	  
		  	9.3.	  	 SAR Term
	  	 	12	  
		  	9.4.	  	 Termination of Employment or Other Relationship for a Reason Other than Retirement, Death or Disability
	  	 	12	  
		  	9.5.	  	 Rights in the Event of Death
	  	 	13	  

  
 -i-

									
		  	9.6.	  	 Rights in the Event of Disability
	  	 	13	  
		  	9.7.	  	 Rights in the Event of Retirement
	  	 	13	  
		  	9.8.	  	 Limitations on Exercise of SAR
	  	 	13	  
	 10.
	  	 TRANSFERABILITY OF OPTIONS AND SARS
	  	 	14	  
		  	10.1.	  	 General Rule
	  	 	14	  
		  	10.2.	  	 Family Transfers
	  	 	14	  
	 11.
	  	 RESTRICTED STOCK
	  	 	14	  
		  	11.1.	  	 Grant of Restricted Stock or Restricted Stock Units
	  	 	14	  
		  	11.2.	  	 Restrictions
	  	 	14	  
		  	11.3.	  	 Restricted Stock Certificates
	  	 	15	  
		  	11.4.	  	 Rights of Holders of Restricted Stock
	  	 	15	  
		  	11.5.	  	 Rights of Holders of Restricted Stock Units
	  	 	16	  
		  	11.6.	  	 Termination of Employment or Other Relationship for a Reason Other than Death, Disability or Retirement
	  	 	16	  
		  	11.7.	  	 Rights in the Event of Death
	  	 	16	  
		  	11.8.	  	 Rights in the Event of Disability
	  	 	16	  
		  	11.9.	  	 Rights in the Event of Retirement
	  	 	17	  
		  	11.10.	  	 Delivery of Shares and Payment Therefor
	  	 	17	  
	 12.
	  	 UNRESTRICTED STOCK
	  	 	17	  
	 13.
	  	 PARACHUTE LIMITATIONS
	  	 	17	  
	 14.
	  	 REQUIREMENTS OF LAW
	  	 	18	  
		  	14.1.	  	 General
	  	 	18	  
		  	14.2.	  	 Rule 16b-3
	  	 	18	  
	 15.
	  	 AMENDMENT AND TERMINATION OF THE PLAN
	  	 	19	  
	 16.
	  	 EFFECT OF CHANGES IN CAPITALIZATION
	  	 	19	  
		  	16.1.	  	 Changes in Stock
	  	 	19	  
		  	16.2.	  	 Reorganization, Sale of Assets or Sale of Stock
	  	 	20	  
		  	16.3.	  	 Adjustments
	  	 	20	  
		  	16.4.	  	 No Limitations on Company
	  	 	20	  
	 17.
	  	 DISCLAIMER OF RIGHTS
	  	 	21	  
	 18.
	  	 NONEXCLUSIVITY OF THE PLAN
	  	 	21	  
	 19.
	  	 WITHHOLDING TAXES
	  	 	21	  
	 20.
	  	 CAPTIONS
	  	 	22	  
	 21.
	  	 OTHER PROVISIONS
	  	 	22	  
	 22.
	  	 NUMBER AND GENDER
	  	 	22	  
	 23.
	  	 SEVERABILITY
	  	 	22	  
	 24.
	  	 GOVERNING LAW
	  	 	22	  
	 25.
	  	 SECTION 409A
	  	 	22	  

  
 -ii-

 TREX COMPANY, INC. 

2005 STOCK INCENTIVE PLAN 
 Trex Company, Inc., a Delaware corporation (the “Company”), sets forth herein the terms of the Trex Company, Inc. 2005 Stock Incentive Plan (the “Plan”), formerly known as the Trex
Company, Inc. Amended and Restated 1999 Stock Option and Incentive Plan, as follows: 
  

	1.	PURPOSE 

 The Plan is
intended to enhance the Company’s ability to attract and retain highly qualified officers, key employees, outside directors and other persons, and to motivate such officers, key employees, outside directors and other persons to serve the
Company and its affiliates (as defined herein) and to expend maximum effort to improve the business results and earnings of the Company, by providing to such officers, key employees, outside directors and other persons an opportunity to acquire or
increase a direct proprietary interest in the operations and future success of the Company. To this end, the Plan provides for the grant of stock options, restricted stock, restricted stock units, unrestricted stock and stock appreciation rights in
accordance with the terms hereof. Stock options granted under the Plan may be non-qualified stock options or incentive stock options, as provided herein, except that stock options granted to outside directors and all Service Providers shall in all
cases be non-qualified stock options. 
  

	2.	DEFINITIONS 

 For purposes
of interpreting the Plan and related documents (including Award Agreements), the following definitions shall apply: 
  

	2.1.	“Affiliate” of, or person “affiliated” with, a person means any company or other trade or business that controls, is controlled by or is under
common control with such person within the meaning of Rule 405 of Regulation C under the Securities Act. 

  

	2.2.	“Amendment and Restatement Date” means the date on which the Plan, as herein amended and restated and adopted by the Board on March 8, 2005, is approved
by the Company’s stockholders. 

  

	2.3.	“Award Agreement” means the stock option agreement, restricted stock agreement, restricted stock unit agreement, stock appreciation right agreement or other
written agreement between the Company and a Grantee that evidences and sets out the terms and conditions of a Grant. 

  

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

  

	2.5.	“Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. 

 

	2.6.	“Committee” means a committee of, and designated from time to time by resolution of, the Board, which shall consist of no fewer than two members of the Board,
none of whom shall be an officer or other salaried employee of the Company or any affiliate of the Company. 

  
 - 1 -

	2.7.	“Company” means Trex Company, Inc., a Delaware corporation. 

  

	2.8.	“Effective Date” means the date designated by the Board in its resolution adopting the Plan. 

 

	2.9.	“Exchange Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended. 

 

	2.10.	“Fair Market Value” means the closing price of a share of Stock reported on the New York Stock Exchange (“NYSE”) on the date Fair Market Value is
being determined, provided that if there should be no closing price reported on such date, the Fair Market Value of a share of Stock on such date shall be deemed equal to the closing price as reported by the NYSE for the last preceding date on which
sales of shares were reported. Notwithstanding the foregoing, in the event that the shares of Stock are listed upon more than one established stock exchange, Fair Market Value means the closing price of a share of Stock reported on the exchange that
trades the largest volume of shares on such date. If the Stock is not at the time listed or admitted to trading on a stock exchange, Fair Market Value means the mean between the lowest reported bid price and highest reported asked price of the Stock
on the date in question in the over-the-counter market, as such prices are reported in a publication of general circulation selected by the Board and regularly reporting the market price of Stock in such market. If the Stock is not listed or
admitted to trading on any stock exchange or traded in the over-the-counter market, Fair Market Value shall be as determined in good faith by the Board. 

  

	2.11.	“Grant” means an award of an Option, Restricted Stock, Restricted Stock Unit, Unrestricted Stock, or Stock Appreciation Right under the Plan.

  

	2.12.	“Grant Date” means, as determined by the Board or authorized Committee, (i) the date as of which the Board or such Committee approves a Grant or
(ii) such other date as may be specified by the Board or such Committee. 

  

	2.13.	“Grantee” means a person who receives or holds an Option, Restricted Stock, Restricted Stock Unit, Stock Appreciation Right or Unrestricted Stock under the
Plan. 

  

	2.14.	“Immediate Family Members” means the spouse, children, grandchildren, parents and siblings of the Grantee. 

 

	2.15.	“Incentive Stock Option” means an “incentive stock option” within the meaning of Section 422 of the Code. 

 

	2.16.	“Option” means an option to purchase one or more shares of Stock pursuant to the Plan. 

 

	2.17.	“Option Price” means the purchase price for each share of Stock subject to an Option. 

  
 - 2 -

	2.18.	“Outside Director” means a member of the Board who is not an officer or employee of the Company or any Subsidiary. 

 

	2.19.	“Plan” means this Trex Company, Inc. 2005 Stock Incentive Plan (formerly known as the Trex Company, Inc. Amended and Restated 1999 Stock Option and Incentive
Plan), as amended from time to time. 

  

	2.20.	“Reporting Person” means a person who is required to file reports under Section 16(a) of the Exchange Act. 

 

	2.21.	“Restricted Period” means the period during which Restricted Stock or Restricted Stock Units are subject to restrictions or conditions pursuant to
Section 11.2 hereof. 

  

	2.22.	“Restricted Stock” means shares of Stock, awarded to a Grantee pursuant to Section 11 hereof, that are subject to restrictions and to a risk of
forfeiture. 

  

	2.23.	“Restricted Stock Unit” means a unit awarded to a Grantee pursuant to Section 11 hereof, which represents a conditional right to receive a share
of Stock in the future, and which is subject to restrictions and to a risk of forfeiture. 

  

	2.24.	“Retirement’ means termination of employment with the Company and its Subsidiaries on or after age 65. 

 

	2.25.	“Securities Act” means the Securities Act of 1933, as now in effect or as hereafter amended. 

 

	2.26.	“Service Provider” means a consultant or adviser to the Company, a manager of the Company’s properties or affairs, or other similar service provider or
Affiliate of the Company, and employees of any of the foregoing, as such persons may be designated from time to time by the Board pursuant to Section 6 hereof. 

 

	2.27.	“Stock” means the common stock, par value $0.01 per share, of the Company. 

 

	2.28.	“Stock Appreciation Right” or “SAR” means a right granted to a Grantee pursuant to Section 9 hereof. 

 

	2.29.	“Subsidiary” means any “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code. 

 

	2.30.	“Termination Date” means the date upon which an Option shall terminate or expire, as set forth in Section 8.3 hereof. 

 

	2.31.	“Unrestricted Stock” means an award of Stock granted to a Grantee pursuant to Section 12 hereof. 

  
 - 3 -

	3.	ADMINISTRATION OF THE PLAN 

  

	 	3.1.	Board 

 The Board shall
have such powers and authorities related to the administration of the Plan as are consistent with the Company’s certificate of incorporation, bylaws and applicable law. The Board shall have full power and authority to take all actions and to
make all determinations required or provided for under the Plan, any Grant or any Award Agreement, and shall have full power and authority to take all such other actions and make all such other determinations not inconsistent with the specific terms
and provisions of the Plan that the Board deems to be necessary or appropriate to the administration of the Plan, any Grant or any Award Agreement. All such actions and determinations shall be by the affirmative vote of a majority of the members of
the Board present at a meeting or by unanimous consent of the Board executed in writing in accordance with the Company’s certificate of incorporation, bylaws and applicable law. The interpretation and construction by the Board of any provision
of the Plan, any Grant or any Award Agreement shall be final and conclusive. As permitted by law, the Board may delegate its authority under the Plan to a member of the Board or an executive officer of the Company; provided, however, that, unless
otherwise provided by resolution of the Board, only the Board or the Committee may make a Grant to an executive officer of the Company and establish the number of shares of Stock that may be subject to Grants with respect to any fiscal period.

  

	 	3.2.	Committee. 

 The Board
from time to time may delegate to a Committee such powers and authorities related to the administration and implementation of the Plan, as set forth in Section 3.1 hereof and in other applicable provisions of the Plan, as the Board shall
determine, consistent with the Company’s certificate of incorporation, bylaws and applicable law. In the event that the Plan, any Grant or any Award Agreement provides for any action to be taken or determination to be made by the Board, such
action may be taken by or such determination may be made by the Committee if the power and authority to do so has been delegated to the Committee by the Board as provided for in this Section 3.2. Unless otherwise expressly determined by
the Board, any such action or determination by the Committee shall be final, binding and conclusive. As permitted by law, the Committee may delegate the authority delegated to it under the Plan to a member of the Board of Directors or an executive
officer of the Company; provided, however, that, unless otherwise provided by the Board, only the Board or the Committee may make a Grant to a Reporting Person of the Company and establish the number of shares of Stock that may be subject to Grants
during any fiscal period. 
  

	 	3.3.	Grants. 

 Subject to the
other terms and conditions of the Plan, the Board shall have full and final authority (i) to designate Grantees, (ii) to determine the types of Grants to be made to a Grantee, (iii) to determine the number of shares of Stock to be
subject to a Grant, (iv) to establish the terms and conditions of each Grant, including, but not limited to, the Option Price of any Option, the nature and duration of any restriction or condition (or provision for lapse thereof, including
lapse relating to a change in control of the Company) relating to the vesting, exercise, transfer or forfeiture of a Grant or the shares of Stock subject thereto, and any terms or conditions that may

  
 - 4 -

 
be necessary to qualify Options as Incentive Stock Options, (v) to prescribe the form of each Award Agreement evidencing a Grant, and (vi) to make Grants alone, in addition to, in
tandem with, or in substitution or exchange for any other Grant or any other award granted under another plan of the Company or a Subsidiary. Such authority specifically includes the authority, in order to effectuate the purposes of the Plan but
without amending the Plan, to modify Grants to eligible individuals who are foreign nationals or are individuals who are employed outside the United States to recognize differences in local law, tax policy or custom. As a condition to any subsequent
Grant, the Board shall have the right, at its discretion, to require Grantees to return to the Company any Grants previously awarded under the Plan. Subject to the terms and conditions of the Plan, any such subsequent Grant shall be upon such terms
and conditions as are specified by the Board at the time the subsequent Grant is made. 
 The Company may retain the right in an
Award Agreement to cause a forfeiture of the gain realized by a Grantee on account of actions taken by the Grantee in violation or breach of or in conflict with any non-competition agreement, any agreement prohibiting solicitation of employees or
clients of the Company or any affiliate thereof or any confidentiality obligation with respect to the Company or any affiliate thereof or otherwise in competition with the Company, to the extent specified in such Award Agreement applicable to the
Grantee. Furthermore, the Company may annul a Grant if the Grantee is an employee of the Company or an affiliate thereof and is terminated “for cause” as defined in the applicable Award Agreement. The Board may permit or require the
deferral of any award payment, subject to such rules and procedures as it may establish, which may include provisions for the payment or crediting of interest or dividend equivalents, including converting such credits into deferred Stock
equivalents. 
 Without the approval of the stockholders of the Company, no amendment or modification may be made to an
outstanding Option or SAR which reduces the Option Price or SAR grant price, either by lowering the Option Price or SAR grant price or by canceling the outstanding Option or SAR and granting a replacement Option or SAR with a lower Option Price or
SAR grant price, as the case may be, provided, that, appropriate adjustments may be made to outstanding Options and SARs pursuant to Section 16 hereof. 
  

	 	3.4.	No Liability. 

 No member
of the Board or of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Grant or Award Agreement. 
  

	 	3.5.	Applicability of Rule 16b-3. 

 Those provisions of the Plan that make express reference to Rule 16b-3 under the Exchange Act shall apply only to Reporting Persons. 

 

	 	3.6.	Termination of Employment or Other Relationship. 

 (i) Whether a termination of a Grantee’s employment or other relationship with the Company and its Subsidiaries shall have occurred and whether such termination is by reason of “permanent and
total disability” (within the meaning of Section 22(c)(3) of the Code) shall be determined by the Board, whose determination shall be final and conclusive. 

  
 - 5 -

 (ii) Whether a leave of absence or leave on military or government service
shall constitute a termination of employment or other relationship for purposes of the Plan shall be determined by the Board, whose determination shall be final and conclusive. 

(iii) For purposes of the Plan, a termination of employment or other relationship shall not be deemed to occur if the
Grantee is immediately thereafter employed with the Company, a Subsidiary or a Service Provider, or is engaged as a Service Provider or an Outside Director. 
  

	4.	STOCK SUBJECT TO THE PLAN 

  

	 	4.1.	Aggregate Limitation. 

 (i) Subject to adjustment as provided in Section 16 hereof, the aggregate number of shares of Stock available for issuance under the Plan pursuant to Options or other Grants shall be three
million one hundred and fifty thousand (3,150,000) Shares. Shares may be authorized but unissued shares, treasury shares or issued and outstanding shares that are purchased in the open market. 

(ii) Any shares of Stock granted under the Plan which are forfeited to the Company because of the failure to meet an award
contingency or condition shall again be available for issuance pursuant to new awards granted under the Plan. Any shares of Stock covered by an award (or portion of an award) granted under the Plan which is forfeited or canceled, expires or is
settled in cash shall be deemed not to have been issued for purposes of determining the maximum number of shares of Stock available for issuance under the Plan. 
 (iii) If any Option is exercised by tendering shares of Stock, by withholding shares of Stock subject to the Option being exercised, by tendering or withholding shares of Stock, either actually or by
attestation, to the Company as full or partial payment in connection with the exercise of an Option or a stock option under any prior plan of the Company as hereinabove described, only the number of shares of Stock issued net of the shares of Stock
tendered or withheld shall be deemed issued for purposes of determining the maximum number of shares of Stock available for issuance under the Plan. In the case of a SAR, only the actual number of shares of Stock issued upon exercise of the SAR
shall be deemed issued for purposes of determining the maximum number of shares of Stock available for issuance under the Plan. Shares of Stock issued under the Plan through the settlement, assumption or substitution of outstanding awards or
obligations to grant future awards resulting from the acquisition of another entity shall not reduce the maximum number of shares available for issuance under the Plan. 

(iv) The number of shares of Stock reserved under this Section 4 shall be increased by the number of any
shares of Stock that are repurchased by the Company 

  
 - 6 -

 
with Option Proceeds (as defined herein) in respect of the exercise of an Option; provided, however, that the number of shares of Stock contributed to the number of shares of Stock reserved under
this Section 4 in respect of the use of Option Proceeds for repurchase shall not be greater than the number obtained by dividing the amount of such Option Proceeds by the Fair Market Value on the date of exercise of the applicable
Option. “Option Proceeds” means, with respect to an Option, the sum of (x) the Option Price paid in cash, if any, to purchase shares of Stock under such Option, plus (y) the value of all federal, state and local tax deductions to
which the Company is entitled with respect to the exercise of such Option, determined using the highest Federal tax rate applicable to corporations and a blended tax rate for state and local taxes based on the jurisdictions in which the Company does
business and giving effect to the deduction of state and local taxes for Federal tax purposes. 
 (v) The number
of shares of Stock available for grant as incentive stock options shall not exceed three million one hundred and fifty thousand (3,150,000), subject to adjustment as provided in Section 16 hereof, and shall not be increased by reason of
the application of subsection (iii) or (iv) of this Section 4.1. 
  

	 	4.2.	Application of Aggregate Limitation. 

 The Board may adopt reasonable counting procedures to ensure appropriate counting, avoid double counting (as, for example, in the case of tandem or substitute awards) and make adjustments if the number of
shares of Stock actually delivered differs from the number of shares of Stock previously counted in connection with a Grant. 
  

	 	4.3.	Per-Grantee Limitation. 

During any time when the Company has a class of equity security registered under Section 12 of the Exchange Act: 

(i) no person eligible for a Grant under Section 6 hereof may be awarded Options and SARs under the Plan
exercisable for greater than one hundred and fifty thousand (150,000) shares of Stock in any single calendar year, except that in the case of a newly hired employee, such limit shall be three hundred thousand (300,000) shares of Stock (in
each case, subject to adjustment as provided in Section 16 hereof); and 
 (ii) the maximum number of
shares of Restricted Stock or Unrestricted Stock that are earned based on achievement of performance objectives that may be awarded under the Plan (including for this purpose any shares of Stock represented by Restricted Stock Units) to any person
eligible for a Grant under Section 11 hereof is seventy five thousand (75,000) shares of Stock in any single calendar year, except that in the case of a newly hired employee, such limit shall be one hundred and fifty thousand
(150,000) shares of Stock (in each case, subject to adjustment as provided in Section 16 hereof). 

  
 - 7 -

	5.	EFFECTIVE DATE AND TERM OF THE PLAN 

  

	 	5.1.	Effective Date. 

 The Plan
prior to its amendment and restatement herein was originally effective as of the Effective Date. The Plan as herein amended and restated was approved by the Board on March 8, 2005 and shall be effective as of date the Plan is approved by the
Company’s stockholders. If the stockholders of the Company fail to approve the Plan as herein amended and restated within one year after the date the Plan as herein amended and restated was approved by the Board, any Awards made hereunder in
excess of the number of shares available for Awards under the Plan prior to its amendment and restatement shall be null and void and of no effect, and the applicable terms of the Plan shall be the terms in effect immediately prior to the Plan’s
amendment and restatement. The amendment and restatement of the Plan shall have no effect on Grants made under the Plan prior to the Amendment and Restatement Date. 
  

	 	5.2.	Term. 

 The Plan shall
expire on the tenth anniversary of the Amendment and Restatement Date. 
  

	6.	PERMISSIBLE GRANTEES 

  

	 	6.1.	Employees and Service Providers. 

 Subject to the provisions of Section 6.3 hereof, Grants may be made under the Plan to any employee of the Company or any Subsidiary, including any such employee who is an officer or director
of the Company, to an Outside Director, to a Service Provider or employee of a Service Provider providing, or who has provided, services to the Company or any Subsidiary, and to any other individual whose participation in the Plan is determined by
the Board to be in the best interests of the Company, as the Board shall determine and designate from time to time. 
  

	 	6.2.	Multiple Grants. 

 An
eligible person may receive more than one Grant, subject to such restrictions as are provided herein. 
  

	 	6.3.	LIMITATIONS ON GRANTS OF INCENTIVE STOCK OPTIONS 

 An Option shall constitute an Incentive Stock Option only (i) if the Grantee of such Option is an employee of the Company or any Subsidiary of the Company; (ii) to the extent specifically
provided in the related Award Agreement; and (iii) to the extent that the aggregate Fair Market Value (determined at the time the Option is granted) of the shares of Stock with respect to which all Incentive Stock Options held by such Grantee
become exercisable for the first time during any calendar year (under the Plan and all other plans of the Grantee’s employer and its affiliates) does not exceed $100,000. This limitation shall be applied by taking Options into account in the
order in which they were granted. 

  
 - 8 -

	7.	AWARD AGREEMENT 

 Each
Grant pursuant to the Plan shall be evidenced by an Award Agreement, in such form or forms as the Board shall from time to time determine. Award Agreements issued from time to time or at the same time need not contain similar provisions but shall be
consistent with the terms of the Plan. Each Award Agreement evidencing a Grant of Options shall specify whether such Options are intended to be non-qualified stock options or Incentive Stock Options, and in the absence of such specification such
options shall be deemed non-qualified stock options. 
  

	8.	OPTIONS 

  

	 	8.1.	Option Price. 

 The Option
Price of each Option shall be no less than the Fair Market Value of a share of Stock on the date of grant and stated in the Award Agreement evidencing such Option; provided, however, that in the event that a Grantee would otherwise be ineligible to
receive an Incentive Stock Option by reason of the provisions of Sections 422(b)(6) and 424(d) of the Code (relating to ownership of more than ten percent (10%) of the Company’s outstanding shares of Stock), the Option Price of an Option
granted to such Grantee that is intended to be an Incentive Stock Option shall be not less than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the Grant Date. In no case shall the Option Price of any Option be
less than the par value of a share of Stock. 
  

	 	8.2.	Vesting. 

 Subject to
Sections 8.3 and 16 hereof, each Option granted under the Plan shall become exercisable at such times and under such conditions as shall be determined by the Board and stated in the Award Agreement, provided, however, that subject to
earlier vesting as otherwise provided herein, the vesting period shall be a minimum of three (3) years. For purposes of this Section 8.2, fractional numbers of shares of Stock subject to an Option shall be rounded down to the next
nearest whole number. 
  

	 	8.3.	Option Term. 

 Each Option
granted under the Plan shall terminate, and all rights to purchase shares of Stock thereunder shall cease, upon the expiration of ten years (eleven years if the Grantee shall terminate employment or other service due to death in the tenth year of
the Option term) from the date such Option is granted, or under such circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed by the Board and thereafter stated in the Award Agreement relating to such Option;
provided, however, that in the event that the Grantee would otherwise be ineligible to receive an Incentive Stock Option by reason of the provisions of Sections 422(b)(6) and 424(d) of the Code (relating to ownership of more than ten percent
(10%) of the outstanding shares of Stock), an Option granted to such Grantee that is intended to be an Incentive Stock Option shall not be exercisable after the expiration of five years from its date of grant. 

  
 - 9 -

	 	8.4.	Termination of Employment or Other Relationship for a Reason Other than Retirement, Death or Disability. 

Unless otherwise provided by the Board, upon the termination of a Grantee’s employment or other relationship with the Company and its
Subsidiaries other than by reason of death, “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) or Retirement, any Option or portion thereof held by such Grantee that has not vested in accordance with
the provisions of Section 8.2 hereof shall terminate immediately, and any Option or portion thereof that has vested in accordance with the provisions of Section 8.2 hereof but has not been exercised shall terminate at the
close of business on the 90th day following the Grantee’s termination of employment or other relationship (or, if such 90th day is a Saturday, Sunday or holiday, at the close of business on the next preceding day that is not a Saturday, Sunday
or holiday). Upon termination of an Option or portion thereof, the Grantee shall have no further right to purchase shares of Stock pursuant to such Option or portion thereof. 

 

	 	8.5.	Rights in the Event of Death. 

 Unless otherwise provided by the Board, if a Grantee dies while employed by or providing services to the Company or its Subsidiaries, all Options granted to such Grantee that have not previously
terminated shall fully vest on the date of death, and the executors or administrators or legatees or distributees of such Grantee’s estate shall have the right, at any time within five years after the date of such Grantee’s death and prior
to termination of the Option pursuant to Section 8.3 hereof, to exercise any Option held by such Grantee at the date of such Grantee’s death. 
  

	 	8.6.	Rights in the Event of Disability. 

 Unless otherwise provided by the Board, if a Grantee’s employment or other relationship with the Company or its Subsidiaries is terminated by reason of the “permanent and total disability”
(within the meaning of Section 22(e)(3) of the Code) of such Grantee, such Grantee’s Options that have not previously terminated shall fully vest, and shall be exercisable for a period of five years after such termination of employment or
other relationship, subject to earlier termination of the Option as provided in Section 8.3 hereof. 
  

	 	8.7.	Rights in the Event of Retirement. 

 Unless otherwise provided by the Board, if a Grantee’s employment or other relationship with the Company is terminated by reason of the Grantee’s Retirement, all Options granted to such Grantee
that have not previously terminated shall fully vest on the date of Retirement, and the Grantee shall have the right, at any time within five years after the date of such Grantee’s Retirement and prior to termination of the Option pursuant to
Section 8.3 hereof, to exercise any Option held by such Grantee at the date of such Grantee’s Retirement. 

  
 - 10 -

	 	8.8.	Limitations on Exercise of Option. 

 Notwithstanding any other provision of the Plan, in no event may any Option be exercised, in whole or in part, prior to the date the Plan is approved by the stockholders of the Company as provided herein,
or after ten years following the date upon which the Option is granted (except as provided in Section 8.3 hereof in the case of death of the Grantee), or after the occurrence of an event referred to in Section 16 hereof which
results in termination of the Option. 
  

	 	8.9.	Method of Exercise. 

 An
Option that is exercisable may be exercised by the Grantee’s delivery to the Company of written notice of exercise on any business day, at the Company’s principal office, addressed to the attention of the Board. Such notice shall specify
the number of shares of Stock with respect to which the Option is being exercised and shall be accompanied by payment in full of the Option Price of the shares of Stock for which the Option is being exercised. The minimum number of shares of Stock
with respect to which an Option may be exercised, in whole or in part, at any time shall be the lesser of (i) 100 shares or such lesser number set forth in the applicable Award Agreement and (ii) the maximum number of shares of Stock
available for purchase under the Option at the time of exercise. Payment of the Option Price for the shares of Stock purchased pursuant to the exercise of an Option shall be made (i) in cash or in cash equivalents acceptable to the Company;
(ii) to the extent permitted by law and at the Board’s discretion, through the actual or constructive tender to the Company of shares of Stock, which shares of Stock, if acquired from the Company, shall have been held for at least six
months prior to such tender if necessary to avoid negative accounting treatment (or such shorter period as the Board may approve) and which shall be valued, for purposes of determining the extent to which the Option Price has been paid thereby, at
their Fair Market Value on the date of exercise; or (iii) to the extent permitted by law and at the Board’s discretion, by a combination of the methods described in clauses (i) and (ii) or any other method permitted by law that
is approved by the Board. An attempt to exercise any Option granted hereunder other than as set forth above shall be invalid and of no force and effect. 
  

	 	8.10.	Rights as a Stockholder; Dividend Equivalents. 

 Unless otherwise stated in the applicable Award Agreement, an individual holding or exercising an Option shall have none of the rights of a stockholder (for example, the right to receive cash or dividend
payments or distributions attributable to the subject shares of Stock or to direct the voting of the subject shares of Stock) until the shares of Stock covered thereby are fully paid and issued to such individual. Except as provided in
Section 16 hereof, no adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date of such issuance. However, the Board may, on such conditions as it deems appropriate, provide that
a Grantee will receive a benefit in lieu of cash dividends that would have been payable on any or all shares of Stock subject to the Grant if such shares of Stock had been outstanding. Without limitation, the Board may provide for payment to the
Grantee of amounts representing such dividends, either currently or in the future, or for the investment of such amounts on behalf of the Grantee. 
  

	 	8.11.	Delivery of Stock Certificates. 

 Promptly after the exercise of an Option by a Grantee and the payment in full of the Option Price, such Grantee shall be entitled to the issuance of a Stock certificate or certificates evidencing such
Grantee’s ownership of the shares of Stock subject to the Option. Notwithstanding any other provision of this Plan to the contrary, the Company may elect to satisfy any requirement under this Plan for the delivery of stock certificates through
the use of book-entry. 

  
 - 11 -

	9.	STOCK APPRECIATION RIGHTS 

  

	 	9.1.	SAR Price. 

 A SAR shall
confer on the Grantee a right to receive, upon exercise thereof, the excess of (x) the Fair Market Value of one share of Stock on the date of exercise over (y) the grant price of the SAR, as determined by the Board. The grant price of a
SAR shall not be less than the Fair Market Value of a share of Stock on the Grant Date. 
  

	 	9.2.	Vesting, and Terms and Conditions Governing SARs. 

 The Board shall determine the time or times at which and the circumstances under which a SAR may be exercised in whole or in part (including exercise based on achievement of performance objectives or
future service requirements), the time or times at which and the circumstances under which a SAR shall cease to be exercisable, the method of exercise, the method of settlement, the form of consideration payable in settlement, whether or not a SAR
shall be in tandem or in combination with any other Grant, and any other terms and conditions of any SAR provided, however, that subject to earlier vesting as otherwise provided herein, the vesting period shall be minimum of three (3) years.

  

	 	9.3.	SAR Term 

 Each SAR
granted under the Plan shall terminate upon the expiration of ten years (eleven years if the Grantee shall terminate employment or other service due to death in the tenth year of the SAR term) from the date such SAR is granted, or under such
circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed by the Board and thereafter stated in the Award Agreement relating to such SAR. 

 

	 	9.4.	Termination of Employment or Other Relationship for a Reason Other than Retirement, Death or Disability. 

Unless otherwise provided by the Board, upon the termination of a Grantee’s employment or other relationship with the Company and its
Subsidiaries other than by reason of death, “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) or Retirement, any SAR or portion thereof held by such Grantee that has not vested shall terminate
immediately, and any SAR or portion thereof that has vested but has not been exercised shall 

  
 12 

 
terminate at the close of business on the 90th day following the Grantee’s termination of employment or other relationship (or, if such 90th day is a Saturday, Sunday or holiday, at the
close of business on the next preceding day that is not a Saturday, Sunday or holiday). 
  

	 	9.5.	Rights in the Event of Death. 

 Unless otherwise provided by the Board, if a Grantee dies while employed by or providing services to the Company or its Subsidiaries, all SARs granted to such Grantee that have not previously terminated
shall fully vest on the date of death, and the executors or administrators or legatees or distributees of such Grantee’s estate shall have the right, at any time within five years after the date of such Grantee’s death and prior to
termination of the SAR pursuant to Section 9.2 hereof, to exercise any SAR held by such Grantee at the date of such Grantee’s death. 
  

	 	9.6.	Rights in the Event of Disability. 

 Unless otherwise provided by the Board, if a Grantee’s employment or other relationship with the Company is terminated by reason of the “permanent and total disability” (within the meaning
of Section 22(e)(3) of the Code) of such Grantee, such Grantee’s SARs that have not previously terminated shall fully vest, and shall be exercisable for a period of five years after such termination of employment or other relationship,
subject to earlier termination of the SAR as provided in Section 9.2 hereof. Whether a termination of employment or other relationship is considered to be by reason of “permanent and total disability” for purposes of the Plan
shall be determined by the Board, whose determination shall be final and conclusive. 
  

	 	9.7.	Rights in the Event of Retirement. 

 Unless otherwise provided by the Board, if a Grantee’s employment or other relationship with the Company or its Subsidiaries is terminated by reason of the Grantee’s Retirement, all SARs granted
to such Grantee that have not previously terminated shall fully vest on the date of Retirement, and the Grantee shall have the right, at any time within five years after the date of such Grantee’s Retirement and prior to termination of the SAR
pursuant to Section 9.2 hereof, to exercise any SAR held by such Grantee at the date of such Grantee’s Retirement. 
  

	 	9.8.	Limitations on Exercise of SAR. 

 Notwithstanding any other provision of the Plan, in no event may any SAR be exercised, in whole or in part, prior to the date the Plan is approved by the stockholders of the Company as provided herein, or
after ten years following the date upon which the SAR is granted (except as provided in Section 9.3 hereof in the case of death of the Grantee), or after the occurrence of an event referred to in Section 16 hereof which
results in termination of the SAR. 

  
 - 13 -

	10.	TRANSFERABILITY OF OPTIONS AND SARS 

  

	 	10.1.	General Rule 

 Except as
provided in Section 10.2 hereof, during the lifetime of a Grantee, only the Grantee (or, in the event of legal incapacity or incompetency, the Grantee’s guardian or legal representative) may exercise a SAR or Option. Except as
provided in Section 10.2 hereof, no Option or SAR shall be assignable or transferable by the Grantee to whom it is granted, other than by will or the laws of descent and distribution. 

 

	 	10.2.	Family Transfers. 

 To the
extent permitted by the Board and under such rules and conditions as may be imposed by the Board, a Grantee may transfer all or part of an Option that is not an Incentive Stock Option or a SAR to (i) any Immediate Family Member, (ii) a
trust or trusts for the exclusive benefit of any Immediate Family Member or (iii) a partnership or limited liability company in which Immediate Family Members are the only partners or members, provided that (x) there may be no
consideration for any such transfer, and (y) subsequent transfers of transferred Options or SARs or transfers of an interest in a trust, partnership, or limited liability company to which an Option or SAR has been transferred are prohibited
except those in accordance with this Section 10.2 or by will or the laws of descent and distribution. Following such transfer, any such Option or SAR shall continue to be subject to the same terms and conditions as were applicable
immediately prior to the transfer, provided that, for purposes of this Section 10.2, the term “Grantee” shall be deemed to refer to the transferee. The events of termination of employment or other relationship referred to in
Section 8.4 and Section 9.4 hereof shall continue to be applied with respect to the original Grantee, following which the Option or SAR shall be exercisable by the transferee only to the extent and for the periods specified
in Section 8.4, 8.5, 8.6 or 8.7 hereof in the case of Options and Section 9.4, 9.5, 9.6 or 9.7 hereof in the case of SARs. 

 

	11.	RESTRICTED STOCK 

  

	 	11.1.	Grant of Restricted Stock or Restricted Stock Units. 

 The Board from time to time may grant Restricted Stock or Restricted Stock Units to persons eligible to receive Grants under Section 6 hereof, subject to such restrictions, conditions and
other terms as the Board may determine. 
  

	 	11.2.	Restrictions. 

 At the
time a Grant of Restricted Stock or Restricted Stock Units is made, the Board shall establish a period of time (the “Restricted Period”) applicable to such Restricted Stock or Restricted Stock Units. Unless the Grant is being made in
consideration of compensation due under another plan, or unless vesting is subject to performance, the Restricted Period will be a minimum of three years (subject to the accelerated vesting provisions of Section 16 hereof). Each Grant of
Restricted Stock or Restricted Stock Units may be subject to a different Restricted Period. At the time a Grant of Restricted Stock or Restricted Stock Units is made, the Board 

  
 - 14 -

 
may, in its sole discretion, prescribe restrictions in addition to or other than the expiration of the Restricted Period, including the satisfaction of corporate or individual performance
objectives, which may be applicable to all or any portion of the Restricted Stock or Restricted Stock Units. Such performance objectives shall be established in writing by the Board by not later than the 90th day of the period of service to which
such performance objectives relate and while the outcome is substantially uncertain. Performance objectives may be stated either on an absolute or relative basis and may be based on any of the following criteria: earnings per share, total
stockholder return, operating earnings, earnings before interest, taxes, depreciation and amortization (“EBITDA”), growth in assets, return on equity, return on capital, market share, stock price, net income, cash flow, sales growth (in
general, by type of product and by type of customer), retained earnings, completion of acquisitions, completion of divestitures and asset sales, cost or expense reductions, introduction or conversion of product brands, achievement of specified
management information systems objectives, and any combination of the foregoing performance objectives (e.g., cash flow return on capital), provided that the performance period may be no less than one (1) year. Performance objectives may
include positive results, maintaining the status quo or limiting economic losses. Neither Restricted Stock nor Restricted Stock Units may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during the Restricted Period or
prior to the satisfaction of any other restrictions prescribed by the Board with respect to such Restricted Stock or Restricted Stock Units. 
  

	 	11.3.	Restricted Stock Certificates. 

 The Company shall issue, in the name of each Grantee to whom Restricted Stock has been granted, Stock certificates representing the total number of shares of Restricted Stock granted to the Grantee, as
soon as reasonably practicable after the Grant Date. The Board may provide in an Award Agreement that either (i) the Secretary of the Company shall hold such certificates for the Grantee’s benefit until such time as the Restricted Stock is
forfeited to the Company or the restrictions lapse, or (ii) such certificates shall be delivered to the Grantee, provided, however, that such certificates shall bear a legend or legends complying with the applicable securities laws and
regulations and making appropriate reference to the restrictions imposed under the Plan and the Award Agreement. 
  

	 	11.4.	Rights of Holders of Restricted Stock. 

 Unless the Board otherwise provides in an Award Agreement, holders of Restricted Stock shall have the right to vote such shares of Stock and the right to receive any dividends declared or paid with
respect to such shares of Stock. The Board may provide that any dividends paid on Restricted Stock must be reinvested in shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable to such Restricted
Stock. All distributions, if any, received by a Grantee with respect to Restricted Stock as a result of any stock split, stock dividend, combination of shares or other similar transaction shall be subject to the restrictions applicable to the
original Grant. 

  
 - 15 -

	 	11.5.	Rights of Holders of Restricted Stock Units. 

 Unless the Board otherwise provides in an Award Agreement, holders of Restricted Stock Units shall have no rights as stockholders of the Company. The Board may provide in an Award Agreement evidencing a
Grant of Restricted Stock Units that the holder of such Restricted Stock Units shall be entitled to receive, upon the Company’s payment of a cash dividend on its outstanding shares of Stock, a cash payment for each Restricted Stock Unit held
equal to the per-share dividend paid on the shares of Stock. Such Award Agreement may also provide that such cash payment will be deemed reinvested in additional Restricted Stock Units at a price per unit equal to the Fair Market Value of a share on
the date that such dividend is paid. 
  

	 	11.6.	Termination of Employment or Other Relationship for a Reason Other than Death, Disability or Retirement. 

Unless otherwise provided by the Board, upon the termination of a Grantee’s employment or other relationship with the Company and its
Subsidiaries, in either case other than, in the case of individuals, by reason of death, “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code), or Retirement, any Restricted Stock or Restricted Stock
Units held by such Grantee that have not vested, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be deemed forfeited. Upon forfeiture of Restricted Stock or Restricted Stock Units, the Grantee
shall have no further rights with respect to such Grant, including, but not limited to, any right to vote Restricted Stock or any right to receive dividends with respect to Restricted Stock or Restricted Stock Units. 

 

	 	11.7.	Rights in the Event of Death. 

 Unless otherwise provided by the Board, if a Grantee dies while employed by the Company or its Subsidiaries or while serving as a Service Provider, all Restricted Stock or Restricted Stock Units granted
to such Grantee shall, if vesting is based solely on continued service, fully vest on the date of death, or if vesting is based in whole or part on performance, shall be immediately forfeited to the extent not yet vested. Upon such vesting, the
shares of Stock represented thereby shall be deliverable in accordance with the terms of the Plan to the executors, administrators, legatees or distributees of the Grantee’s estate. 

 

	 	11.8.	Rights in the Event of Disability. 

 Unless otherwise provided by the Board, if a Grantee’s employment or other relationship with the Company or its Subsidiaries or a Service Provider, or service as a Service Provider, is terminated by
reason of the “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) of such Grantee, such Grantee’s then unvested Restricted Stock or Restricted Stock Units shall, if vesting is based solely on
continued service, fully vest and be paid on the date of termination, or if vesting is based in whole or part on performance, shall be immediately forfeited to the extent not yet vested. 

  
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	 	11.9.	Rights in the Event of Retirement. 

 Unless otherwise provided by the Board, if a Grantee’s employment with the Company or its Subsidiaries is terminated by reason of Retirement, all Restricted Stock or Restricted Stock Units granted to
such Grantee shall, if vesting is based solely on continued service, fully vest and be paid on the date of termination, or if vesting is based in whole or part on performance, shall be immediately forfeited to the extent not yet vested. 

 

	 	11.10.	Delivery of Shares and Payment Therefor. 

 Upon the expiration or termination of the Restricted Period and the satisfaction of any other conditions prescribed by the Board, the restrictions applicable to Restricted Stock or Restricted Stock Units
shall lapse, and, unless otherwise provided in the Award Agreement, upon payment by the Grantee to the Company, in cash or by check, of the greater of (i) the aggregate par value of the shares of Stock represented by such Restricted Stock or
Restricted Stock Units or (ii) the purchase price, if any, specified in the Award Agreement relating to such Restricted Stock or Restricted Stock Units, a certificate for such shares shall be delivered, free of all such restrictions, to the
Grantee or the Grantee’s beneficiary or estate, as the case may be. 
  

	12.	UNRESTRICTED STOCK 

 The
Board may, in its sole discretion, grant Stock (or sell Stock at par value or such other higher purchase price determined by the Board) free of restrictions other than those required under federal or state securities laws (“Unrestricted
Stock”) to persons eligible to receive grants under Section 6 hereof. Unrestricted Stock may be granted or sold as described in the preceding sentence in respect of past services or other valid consideration in lieu of any
cash compensation due to such Grantee, or in satisfaction of a performance share award payable in Stock and earned based on the satisfaction of one or more of the performance objectives enumerated in Section 11.2 hereof with respect to
Restricted Stock and Restricted Stock Units. 
  

	13.	PARACHUTE LIMITATIONS 

 If
the Grantee is a “disqualified individual” (as defined in Section 280G(c) of the Code), any Option, Restricted Stock, Restricted Stock Unit or SAR and any other right to receive any payment or benefit under the Plan shall not vest or
become exercisable (i) to the extent that the right to vest or any other right to any payment or benefit, taking into account all other rights, payments or benefits to or for the Grantee, would cause any payment or benefit to the Grantee under
the Plan to be considered a “parachute payment” within the meaning of Section 280G(b)(2) of the Code as then in effect (a “Parachute Payment”) and (ii) if, as a result of receiving a Parachute Payment, the aggregate
after-tax amounts received by the Grantee from the Company under any Award Agreements, the Plan, and all other rights, payments or benefits to or for the Grantee would be less than the maximum after-tax amount that could be received by the Grantee
without causing the payment or benefit to be considered a Parachute Payment. In the event that, but for the provisions of this Section 13, the Grantee would be considered to have received a Parachute Payment under any Award Agreements
that would have the effect of decreasing the after-tax amount received by the Grantee as described in clause (ii) of the preceding sentence, then the Grantee shall have the right, in the Grantee’s sole discretion, to designate any rights,

  
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payments or benefits under any Award Agreements, the Plan, any other agreements and any benefit arrangements to be reduced or eliminated so as to avoid having the payment or benefit to the
Grantee under any Award Agreements be deemed to be a Parachute Payment. The Award Agreement, or any agreement entered into by the Grantee with the Company before or after the date of grant, may provide for different treatment of Grants than is set
forth in this Section 13 in the event that the Grantee is a disqualified individual. 
  

	14.	REQUIREMENTS OF LAW 

  

	 	14.1.	General. 

 The Company
shall not be required to sell or issue any shares of Stock under any Grant if the sale or issuance of such shares of Stock would constitute a violation by the Grantee, any other person exercising a right emanating from such Grant, or the Company of
any provision of any law or regulation of any governmental authority, including, without limitation, any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing, registration
or qualification of any shares of Stock subject to a Grant upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares of Stock
hereunder, no shares of Stock may be issued or sold to the Grantee or any other person exercising a right emanating from such Grant unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the Grant. Without limiting the generality of the foregoing, upon the exercise of any Option or any SAR that may be settled
in shares of Stock or the delivery of any Restricted Stock or shares of Stock underlying Restricted Stock Units, unless a registration statement under the Securities Act is in effect with respect to the shares of Stock covered by such Grant, the
Company shall not be required to sell or issue such shares of Stock unless the Board has received evidence satisfactory to it that the Grantee or any other person exercising a right emanating from such Grant may acquire such shares of Stock pursuant
to an exemption from registration under the Securities Act. Any such determination by the Board shall be final, binding and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the
Securities Act. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option or a SAR or the issuance of shares of Stock pursuant to the Plan to comply with any law or regulation of any governmental
authority. As to any jurisdiction that expressly imposes the requirement that an Option (or SAR that may be settled in shares of Stock) shall not be exercisable until the shares of Stock covered by such Option (or SAR) are registered or are exempt
from registration, the exercise of such Option (or SAR) under circumstances in which the laws of such jurisdiction apply shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption. 

 

	 	14.2.	Rule 16b-3. 

 During any
time when the Company has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Grants pursuant to the Plan and the exercise of Options and SARs granted hereunder will qualify for the
exemption provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by 

  
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the Board does not comply with the requirements of Rule 16b-3, such provision or action shall be deemed inoperative to the extent permitted by law and deemed advisable by the Board, and shall not
affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may exercise its discretion to modify the Plan in any respect necessary to satisfy the requirements of, or to take advantage of any features of, the
revised exemption or its replacement. 
  

	15.	AMENDMENT AND TERMINATION OF THE PLAN 

 The Board may, at any time and from time to time, amend, suspend or terminate the Plan as to any shares of Stock as to which Grants have not been made; provided, that, any amendment that materially
increases the benefits available under the Plan or which is required to be submitted for stockholder approval by applicable law, rule or regulation (including, without limitation, rules of the NYSE) shall be adopted subject to stockholder approval.
Except as permitted under this Section 15 or Section 16 hereof, no amendment, suspension or termination of the Plan shall, without the consent of the Grantee, alter or impair rights or obligations under any Grant theretofore
awarded under the Plan. 
  

	16.	EFFECT OF CHANGES IN CAPITALIZATION 

  

	 	16.1.	Changes in Stock. 

Subject to Section 16.2 hereof, in the event of any merger, reorganization, consolidation, recapitalization, separation,
liquidation, stock dividend, spin-off, split-up, share combination or other change in the corporate structure of the Company affecting the shares of Stock, (a) such adjustment shall be made in the number and class of shares which may be
delivered under Section 4 hereof and the Grant limits under Section 4 hereof, and in the number and class of or price of shares subject to outstanding Grants as may be determined to be appropriate and equitable by the Board,
in its sole discretion, to prevent dilution or enlargement of existing rights; and (b) the Board or, if another legal entity assumes the obligations of the Company hereunder, the board of directors, compensation committee or similar body of
such other legal entity shall either (i) make appropriate provision for the protection of outstanding Grants by the substitution on an equitable basis of appropriate equity interests or awards similar to the Grants, provided that the
substitution neither enlarges nor diminishes the value and rights under the Grants, or (ii) upon written notice to the Grantees, provide that Grants shall be exercised distributed, canceled or exchanged for value pursuant to such terms and
conditions (including the waiver of any existing terms or conditions) as shall be specified in the notice. Any adjustment of an Incentive Stock Option under this Section 16.1 shall be made in such a manner so as not to constitute a
“modification” within the meaning of Section 424(h)(3) of the Code. The conversion of any convertible securities of the Company shall not be treated as a change in the corporate structure of the Company affecting the shares of Stock.
Subject to any contrary language in an Award Agreement evidencing a Grant of Restricted Stock, any restrictions applicable to such Restricted Stock shall apply as well to any replacement shares received by the Grantee as a result of the merger,
reorganization or other transaction referred to in this Section 16.1. 

  
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	 	16.2.	Reorganization, Sale of Assets or Sale of Stock. 

 Upon the dissolution or liquidation of the Company or upon a merger, consolidation or reorganization of the Company with one or more other entities in which the Company is not the surviving entity, or
upon a sale of substantially all of the assets of the Company to another entity, or upon any transaction (including, without limitation, a merger or reorganization in which the Company is the surviving entity) approved by the Board that results in
any person or entity (or person or entities acting as a group or otherwise in concert) owning eighty percent (80%) or more of the combined voting power of all classes of securities of the Company, (i) all outstanding Restricted Stock and
Restricted Stock Units shall be deemed to have vested, and all restrictions and conditions applicable to such Restricted Stock and Restricted Stock Units shall be deemed to have lapsed, immediately prior to the occurrence of such transaction, and
(ii) all Options and SARs outstanding hereunder shall become immediately exercisable for a period of fifteen days immediately prior to the scheduled consummation of such transaction. Any exercise of an Option or SAR during such fifteen-day
period shall be conditioned upon the consummation of the transaction and shall be effective only immediately before the consummation of the transaction. 
 This Section 16.2 shall not apply to any transaction to the extent that (A) provision is made in writing in connection with such transaction for the continuation of the Plan or the
assumption of the Options, SARs, Restricted Stock and Restricted Stock Units theretofore granted, or for the substitution for such Options, SARs, Restricted Stock and Restricted Stock Units of new options, stock appreciation rights, restricted stock
and restricted stock units covering the stock of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kinds of shares or units and exercise prices, in which event the Plan and Options, SARs,
Restricted Stock and Restricted Stock Units theretofore granted shall continue in the manner and under the terms so provided or (B) a majority of the full Board determines that such transaction shall not trigger application of the provisions of
this Section 16.2 and limited by any “change in control” provision in any employment agreement or Award Agreement applicable to the Grantee. Upon consummation of any such transaction, the Plan and all outstanding but
unexercised Options and SARs shall terminate, except to the extent provision is made in writing in connection with such transaction for the continuation of the Plan or the assumption of such Options and SARs theretofore granted, or for the
substitution for such Options and SARs of new options and stock appreciation rights covering the shares of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kinds of shares or units and exercise
prices, in which event the Plan and Options and SARs theretofore granted shall continue in the manner and under the terms so provided. The Board shall send written notice of an event that will result in such a termination to all individuals who hold
Options and SARs not later than the time at which the Company gives notice thereof to its stockholders. 
  

	 	16.3.	Adjustments. 

 Adjustments
under this Section 16 related to shares of Stock or securities of the Company shall be made by the Board, whose determination in that respect shall be final and conclusive. No fractional shares or other securities shall be issued
pursuant to any such adjustment, and any fractions resulting from any such adjustment shall be eliminated in each case by rounding downward to the nearest whole share. 
  

	 	16.4.	No Limitations on Company. 

The making of Grants pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or assets. 

  
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	17.	DISCLAIMER OF RIGHTS 

 No
provision in the Plan or in any Grant or Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company or any affiliate thereof, or to interfere in any way with any contractual or other
right or authority of the Company or Service Provider either to increase or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship between any individual and the Company or any
affiliate thereof. In addition, notwithstanding anything contained in the Plan to the contrary, unless otherwise stated in the applicable Award Agreement or employment agreement, no Grant awarded under the Plan shall be affected by any change of
duties or position of the Grantee, so long as such Grantee continues to be a director, officer, consultant or employee of the Company. The obligation of the Company to pay any benefits pursuant to the Plan shall be interpreted as a contractual
obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall in no way be interpreted to require the Company to transfer any amounts to a third party trustee or otherwise hold any
amounts in trust or escrow for payment to any participant or beneficiary under the terms of the Plan. No Grantee shall have any of the rights of a stockholder with respect to the shares of Stock subject to an Option or SAR except to the extent such
shares of Stock shall have been issued upon the exercise of the Option or SAR. 
  

	18.	NONEXCLUSIVITY OF THE PLAN 

Neither the adoption of the Plan nor the submission of the Plan to the stockholders of the Company for approval shall be construed as
creating any limitations upon the right and authority of the Board to adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes of individuals or specifically to a particular
individual or particular individuals) as the Board in its discretion determines desirable, including, without limitation, the granting of Stock options otherwise than under the Plan. 

 

	19.	WITHHOLDING TAXES 

 The
Company or a Subsidiary, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state or local taxes of any kind required by law to be withheld with respect to the vesting of or other
lapse of restrictions applicable to Restricted Stock or Restricted Stock Units or upon the exercise of an Option or SAR or the grant of Unrestricted Stock. At the time of such vesting, lapse or exercise, the Grantee shall pay to the Company or the
Subsidiary, as the case may be, any amount that the Company or the Subsidiary may reasonably determine to be necessary to satisfy such 

  
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withholding obligation. Subject to the prior approval of the Company or the Subsidiary, which may be withheld by the Company or the Subsidiary, as the case may be, in its sole discretion, the
Grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company or the Subsidiary to withhold shares of Stock otherwise issuable to the Grantee or (ii) by delivering to the Company or the Subsidiary shares of
Stock already owned by the Grantee. The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding obligations. The Fair Market Value of the shares of Stock used to satisfy such withholding
obligation shall be determined by the Company or the Subsidiary as of the date that the amount of tax to be withheld is to be determined. A Grantee who has made an election pursuant to this Section 19 may satisfy such Grantee’s
withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirement. 
  

	20.	CAPTIONS 

 The use of
captions in the Plan or any Award Agreement is for convenience of reference only and shall not affect the meaning of any provision of the Plan or such Award Agreement. 
  

	21.	OTHER PROVISIONS 

 Each
Grant awarded under the Plan may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Board, in its sole discretion. 
  

	22.	NUMBER AND GENDER 

 With
respect to words used in this Plan, the singular form shall include the plural form and, the masculine gender shall include the feminine gender, as the context requires. 

 

	23.	SEVERABILITY 

 If any
provision of the Plan or any Award Agreement shall be finally determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their
terms, and all provisions shall remain enforceable in any other jurisdiction. 
  

	24.	GOVERNING LAW 

 The
validity and construction of this Plan and the instruments evidencing the Grants awarded hereunder shall be governed by the laws of the State of Delaware (without giving effect to the choice of law provisions thereof). 

 

	25.	SECTION 409A 

 To the
extent that the Board determines that a Grantee would be subject to the additional 20% tax imposed on certain deferred compensation arrangements pursuant to Section 409A of Code as a result of any provision of any Grant, such provision shall be
deemed amended to the minimum extent necessary to avoid application of such additional tax. The Board shall determine the nature and scope of any such amendment. 

  
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 The Plan prior to its amendment and restatement herein was duly adopted
and approved by the Board of Directors of the Company as of the 12th day of March, 1999 and by the stockholders of the Company on the
7th day of April, 1999. The Plan, as amended and restated
herein, was approved by the Board of Directors of the Company as of the 8th day of March, 2005 and by the stockholders of the Company as of the
21st day of April, 2005. The Plan was subsequently amended
by the Board of Directors of the Company on the 12th day
of September, 2005, the 13th day of March, 2008, and the
26th day of February, 2013, and approved by the
stockholders on the 7th day of May, 2008. 

  
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