Document:

Guarantee Agreement

 Exhibit 10.2 
 GUARANTEE AGREEMENT 
  

 
 Dated as of
June 7, 2011 
  
  

NEWSTAR FINANCIAL, INC. 
 in favor of 
 MACQUARIE BANK LIMITED 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 SECTION 1.
	  	CAPITALIZED TERMS	  	 	1	  
			
	SECTION 2.	  	GUARANTEE OF PAYMENT	  	 	1	  
			
	SECTION 3.	  	OBLIGATIONS UNCONDITIONAL	  	 	3	  
			
	SECTION 4.	  	ENFORCEMENT	  	 	4	  
			
	SECTION 5.	  	WAIVERS	  	 	4	  
			
	SECTION 6.	  	SETOFF	  	 	5	  
			
	SECTION 7.	  	FINANCIAL INFORMATION	  	 	5	  
			
	SECTION 8.	  	REPRESENTATIONS AND WARRANTIES	  	 	6	  
			
	SECTION 9.	  	COVENANTS OF GUARANTOR	  	 	7	  
			
	SECTION 10.	  	NO MARSHALLING; REINSTATEMENT	  	 	9	  
			
	SECTION 11.	  	SUBROGATION	  	 	9	  
			
	SECTION 12.	  	ENFORCEMENT; AMENDMENTS; WAIVERS	  	 	9	  
			
	SECTION 13.	  	EFFECTIVENESS; TERMINATION	  	 	10	  
			
	SECTION 14.	  	SUCCESSORS AND ASSIGNS	  	 	10	  
			
	SECTION 15.	  	GOVERNING LAW	  	 	10	  
			
	SECTION 16.	  	SUBMISSION TO JURISDICTION; WAIVERS	  	 	10	  
			
	SECTION 17.	  	WAIVER OF JURY TRIAL	  	 	11	  
			
	SECTION 18.	  	NOTICES	  	 	11	  
			
	SECTION 19.	  	ENTIRE AGREEMENT; SEVERABILITY	  	 	11	  
			
	SECTION 20.	  	EXECUTION IN COUNTERPARTS	  	 	11	  
			
	SECTION 21.	  	GENERAL INTERPRETIVE PROVISIONS	  	 	11	  

  
 -i-

 GUARANTEE AGREEMENT 

This GUARANTEE AGREEMENT (this “Guarantee”) is made as of June 7, 2011, by NEWSTAR FINANCIAL, INC., a
Delaware corporation (“Guarantor”), in favor of MACQUARIE BANK LIMITED, an Australian corporation (together with its successors and assigns, “Purchaser”). 

W I T N E S S E T H: 
 WHEREAS, Purchaser, NewStar CRE Finance I LLC, a Delaware limited liability company (“Seller”), and, solely for purposes of Article 30 thereof, Guarantor are parties to that certain
Master Repurchase Agreement, dated as of the date hereof (as modified, amended or restated from time to time, the “Repurchase Agreement,” and together with all documents and agreements now or hereafter executed by Seller in
connection therewith, collectively, the “Repurchase Documents”). 
 WHEREAS, Guarantor directly or indirectly
owns one hundred percent (100%) of the legal and beneficial interests in Seller, and Guarantor will derive benefits, directly and indirectly, from the execution, delivery and performance by Seller of the Repurchase Documents and the
transactions contemplated by the Repurchase Agreement (collectively, the “Transactions”); and 
 WHEREAS, it is
a condition to the effectiveness of the Repurchase Agreement and the consummation of the Transactions that Guarantor execute and deliver this Guarantee for the benefit of Purchaser. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby
covenants and agrees as follows: 
 Section 1. Capitalized Terms. All capitalized terms used herein and not otherwise
defined shall have the respective meanings ascribed to such terms in the Repurchase Agreement. 
 Section 2. Guarantee of
Payment. 
 (a) Guarantor hereby unconditionally and irrevocably guarantees to Purchaser the prompt and complete payment to
Purchaser and the performance by Seller when due of the following amounts (collectively, the “Guaranteed Obligations”): 
 (i) any and all actual losses and damages (it being acknowledged and agreed that Purchaser shall not seek consequential, punitive or special damages, except to the extent Purchaser has incurred the same)
incurred by Purchaser in connection with: 
 A. any failure by Seller to comply with Article 12 of the Repurchase Agreement,
which failure results in a substantive consolidation; 

 B. any misapplication or conversion on the part of Seller, Guarantor or Servicer (to the
extent Servicer is an Affiliate of Seller or Guarantor) or any Affiliate of the foregoing of any of Income required to be deposited into the Concentration Account or the Collection Account pursuant to Article 5 of the Repurchase Agreement;

 C. any fraud or material misrepresentation by Seller, Guarantor, Servicer (to the extent Servicer is an Affiliate of Seller
or Guarantor) or any officer, director, partner, member or employee of the foregoing with respect to the Transactions, the Repurchase Agreement, the Repurchase Documents or any other certificate, report, notice, financial statement, representation,
warranty or other instrument or document furnished to Purchaser by Seller, Guarantor or Servicer (to the extent Servicer is an Affiliate of Seller or Guarantor) or any Affiliate thereof on the Closing Date or during the term of the Repurchase
Agreement; 
 D. any failure by Seller to fund any Future Advances as, if and when Seller is obligated to make such Future
Advances under the applicable Purchased Assets Documents which has not been waived by the applicable Mortgagor, except to the extent such failure is solely due to Purchaser failing to release funds from the Future Advance Reserve in accordance with
Article 28 of the Repurchase Agreement when and as required thereunder; 
 E. any claim by any Affiliate of Seller that
Purchaser is not the record and beneficial owner of, and does not have good and marketable title to, each Purchased Asset in accordance with the Transaction Documents; 
 F. upon the occurrence of an Event of Default, any failure of Seller or Guarantor to cause Purchaser (or its designee) to be appointed as Administrative Agent for all Purchased Assets in accordance with
Article 30 of the Repurchase Agreement; 
 G. any failure of Seller to cure a Default under Article 13(a)(xi)(A) of the
Repurchase Agreement within the time periods set forth therein; 
 H. any failure of Seller to repurchase a Purchased Asset on
the applicable Document Rep Breach Repurchase Date (provided that any liability of Guarantor under this Section 2(a)(i)(H) shall not exceed the related Repurchase Price for such Purchased Asset); and 

I. any failure by Seller to pay any Make-Whole Amounts to Purchaser in accordance with Article 3(n) of the Repurchase Agreement; and

 (ii) The Repurchase Price for all Purchased Assets in the event that any of the following shall occur by or on behalf of
Seller: (a) the filing of a voluntary petition, the commencing, or authorizing the commencement of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of
creditors; (b) the filing of an answer consenting to, or otherwise acquiescing in, or joining in, or otherwise failing to timely contest, or an order of relief if entered with respect to, any involuntary petition or case or proceeding against
such Person under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of creditors; (c) the soliciting or otherwise colluding with petitioning creditors for any involuntary

  
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petition, case or proceeding against Seller under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of creditors; (d) the seeking
or consenting to the appointment of a receiver, trustee, custodian or similar official for Seller or any substantial part of the property of Seller; or (e) the making of a general assignment for the benefit of creditors. 

(b) This Guarantee is in no way conditioned upon any event or contingency, and shall be binding upon and enforceable against Guarantor
without regard to the validity or enforceability of the Repurchase Documents or of any term thereof. 
 (c) In case any of the
Repurchase Documents shall be terminated as a result of the rejection thereof by any trustee, receiver or liquidating agent of Seller or any of its properties in any bankruptcy, insolvency, reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar proceeding, Guarantor’s obligations hereunder shall continue to the same extent as if such agreement had not been so rejected. Guarantor agrees that this Guarantee shall continue to be effective or shall be
reinstated, as the case may be, if at any time payment to Purchaser of the Guaranteed Obligations or any part thereof is rescinded or must otherwise be returned by Purchaser upon the insolvency, bankruptcy or reorganization of Seller, or otherwise,
as though such payment to Purchaser had not been made. 
 (d) Guarantor shall pay on demand all reasonable costs and expenses
and damages (including, without limitation, reasonable attorneys’ fees and disbursements) incurred by Purchaser or any of its agents in connection with the enforcement of the obligations of Guarantor under this Guarantee. 

Section 3. Obligations Unconditional. Guarantor hereby agrees that its obligations under this Guarantee shall be continuing and
shall not be subject to any non-compulsory counterclaim, set-off, deduction or defense (other than payment) based upon any claim Guarantor may have against Purchaser or Seller or any other Person, and shall remain in full force and effect without
regard to, and shall not be released, discharged or in any way affected by, any circumstance or condition (whether or not Guarantor shall have any knowledge or notice thereof) whatsoever that might constitute a legal or equitable discharge or
defense, and shall be unconditional, irrespective of: 
 (i) the validity, enforceability, avoidance, novation or subordination
of any of the Guaranteed Obligations, the Repurchase Documents, this Guarantee, or any other document relating thereto; 
 (ii)
the absence of any attempt by, or on behalf of, Purchaser to collect, or to take any other action to enforce, all or any part of the Guaranteed Obligations, whether from or against Seller, Guarantor, Servicer or any other Person or entity;

 (iii) the election of any remedy by, or on behalf of, Purchaser with respect to all or any part of the Guaranteed
Obligations; 
 (iv) the waiver, rescission, compromise, acceleration, consent, extension, forbearance or granting of any
indulgence by, or on behalf of, Purchaser with respect to, or the amendment or modification of, or any release of any party from, any of the terms and provisions of the Repurchase Documents or any related document; 

  
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 (v) the failure of Purchaser to take any steps to perfect and maintain its security
interest in, or to preserve its rights to, any security or collateral, if any, for the Guaranteed Obligations; 
 (vi) the
election by, or on behalf of, Purchaser, in any proceeding instituted under Chapter 11 of Title 11 of the United States Code (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application of Section 1111(b)(2) of
the Bankruptcy Code; 
 (vii) the disallowance, under Section 502 of the Bankruptcy Code, of all or any portion of the
claims of Purchaser for repayment of all or any part of the Guaranteed Obligations or any expenses associated therewith; 

(viii) the failure of Purchaser to assert any claim or demand or to enforce any right or remedy against Seller or any other Person under
the provisions of the Repurchase Documents or any related document or other agreement or otherwise; 
 (ix) any change in
respect of Seller or Guarantor, including, without limitation, as a result of any sale of assets, merger, consolidation, dissolution, liquidation, recapitalization or other change of legal form or status, whether or not permitted under the
Repurchase Documents; 
 (x) the release, exchange, waiver or foreclosure of any security held by Purchaser for any of the
Guaranteed Obligations or the invalidity or nonperfection of any security interest securing the Guaranteed Obligations or this Guarantee, or any other defect of any kind pertaining to the Guaranteed Obligations or any guaranty or collateral security
in respect thereof; 
 (xi) the release or substitution of Seller or Guarantor; or 

(xii) any other circumstance that might otherwise, but for this specific agreement of Guarantor to the contrary, result in a discharge
of, or the exoneration of, Guarantor hereunder, at law or in equity, it being the intent of the parties hereto that the obligations of Guarantor hereunder shall be absolute and unconditional under any and all circumstances. 

Section 4. Enforcement. Guarantor’s liability under this Guarantee is a guaranty of payment and not of collection. Purchaser
shall have the right to require Guarantor to pay, comply with and satisfy its obligations and liabilities under this Guarantee, and shall have the right to proceed immediately against Guarantor with respect thereto, without being required to attempt
recovery first from Seller or any other party, without first suing on the Repurchase Agreement or any other Repurchase Document and without demonstrating that the Collateral is inadequate security or that Purchaser has exercised (to any degree) or
exhausted any of Purchaser’s other rights and remedies with respect to Seller, Servicer or any Collateral. 
 Section 5.
Waivers. Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of receivership or bankruptcy of Seller or 

  
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Guarantor, protest or notice (except any applicable notices required to be given to Seller under the Repurchase Documents or to the Guarantor herein) with respect to the Guaranteed Obligations,
all setoffs and counterclaims and all presentments, demands for performance, notices of nonperformance (except any applicable notices required to be given under the Repurchase Documents or to the Guarantor herein), protests, notices of protest,
notices of dishonor and notices of acceptance of this Guarantee and all other demands (except any applicable demands required to be given under the Repurchase Documents or to the Guarantor herein) whatsoever (and shall not require that the same be
made on Seller or Guarantor as a condition precedent to the obligations of Guarantor hereunder, except as required by the Repurchase Documents or to the Guarantor herein), and covenants that this Guarantee will not be discharged, except by complete
payment (in cash) of the Guaranteed Obligations and any other obligations contained herein and the termination of the Repurchase Documents. Guarantor further waives all notices of the existence, creation or incurring of new or additional
indebtedness, arising either from loans extended to Seller, any other Person under the Repurchase Documents, Guarantor or otherwise under any related document. 
 Purchaser is hereby authorized, without notice or demand and without affecting the liability of Guarantor hereunder, from time to time, (a) to renew, extend, accelerate or otherwise change the time
for payment of, or other terms relating to, all or any part of the Guaranteed Obligations, or to otherwise modify, amend or change the terms of the Repurchase Documents to which Purchaser is a party or any other related document; (b) to accept
partial payments on all or any part of the Guaranteed Obligations; (c) to take and hold security or collateral for the payment of all or any part of the Guaranteed Obligations, this Guarantee, or any other guaranties of all or any part of the
Guaranteed Obligations or other liabilities of Guarantor or Seller; (d) to exchange, enforce, waive and release any such security or collateral; (e) to apply such security or collateral and direct the order or manner of sale thereof as in
its discretion it may determine; and (f) to settle, release, exchange, enforce, waive, compromise, collect or otherwise liquidate all or any part of the Guaranteed Obligations, and any security or collateral for the Guaranteed Obligations. Any
of the foregoing may be done in any manner, without affecting or impairing the obligations of Guarantor hereunder. 
 Section 6.
Setoff. At any time after all or any part of the Guaranteed Obligations have become due and payable, Purchaser may, without notice to Guarantor and regardless of the acceptance of any security or collateral for the payment thereof,
appropriate and apply toward the payment of all or any part of the Guaranteed Obligations (i) any indebtedness due or to become due from Purchaser to Guarantor and (ii) any moneys, credits or other property belonging to Guarantor, at any
time held by or coming into the possession of Purchaser or its Affiliates. 
 Section 7. Financial Information. Guarantor
hereby assumes responsibility for keeping itself informed of the financial condition of Seller and any and all endorsers and/or other guarantors of all or any part of the Guaranteed Obligations, and of all other circumstances bearing upon the risk
of nonpayment of the Guaranteed Obligations (or any part thereof) that diligent inquiry would reveal, and Guarantor hereby agrees that Purchaser shall have no duty to advise Guarantor of information known to it regarding such condition or any such
circumstances. 

  
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 Section 8. Representations and Warranties. Guarantor hereby represents and warrants
to Purchaser that as of the date hereof and, except as otherwise provided herein, throughout the term of this Guarantee: 
 (a)
Existence. Guarantor (i) is a Delaware corporation duly organized and validly existing under the laws of the jurisdiction of its organization, (ii) has all requisite power, and has all governmental licenses, authorizations, consents
and approvals necessary to own its assets and carry on its business as now being or as proposed to be conducted, except where the lack of such licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse
Effect on Guarantor; and (iii) is qualified to do business, is validly existing and is, to the extent determinable, in good standing, in all other jurisdictions in which the nature of the business conducted by it makes such qualification
necessary, except where failure so to qualify would not be reasonably likely (either individually or in the aggregate) to have a Material Adverse Effect on Guarantor. 
 (b) Action. Guarantor has all necessary power, authority and legal right to execute, deliver and perform its obligations under this Guarantee; such execution, delivery and performance by Guarantor
has been duly authorized by all necessary action on its part; and this Guarantee has been duly and validly executed and delivered by Guarantor and constitutes a legal, valid and binding obligation of Guarantor, enforceable against Guarantor in
accordance with its terms except as enforceability may be limited or varied by bankruptcy, insolvency, reorganization, liquidation or other similar laws of general application relating to enforcement of the rights of a creditor and by general
equitable principals. 
 (c) Non-Contravention. Neither the execution and delivery of this Guarantee, nor the execution
and delivery of the Repurchase Documents by Seller, nor consummation by Guarantor or Seller of the Transactions, nor compliance by Seller or Guarantor, as applicable, with the terms, conditions and provisions of this Guarantee or the other
Repurchase Documents will conflict with or result in a breach of any of the terms, conditions or provisions of (i) the organizational documents of Guarantor, (ii) any contractual obligation to which Guarantor is now a party or the rights
under which have been assigned to Guarantor or the obligations under which have been assumed by Guarantor or to which the assets of Guarantor is subject or constitute a default thereunder, or result thereunder in the creation or imposition of any
lien upon any of the assets of Guarantor, (iii) any judgment or order, writ, injunction, decree or demand of any court applicable to Guarantor, or (iv) any applicable Requirement of Law, in the case of clauses (ii) or
(iii) above, to the extent that such conflict or breach would have a Material Adverse Effect. Guarantor has all necessary licenses, permits and other consents from Governmental Authorities necessary to performance of its obligations under this
Guarantee. 
 (d) Litigation. As of the Closing Date, there is no action, suit, proceeding, investigation, or arbitration
pending or, to the best knowledge of Guarantor, threatened in writing against Guarantor, Servicer, Seller, any Affiliate of the foregoing or any of their respective assets, in each case that may result in any Material Adverse Effect. As of the
Closing Date, Guarantor is in compliance in all material respects with all Requirements of Law, except to the extent that failure to so comply would not cause a Material Adverse Effect. As of the Closing Date, none of Guarantor, Seller, Servicer or
any of their Affiliates are in default in any material respect with respect to any judgment, order, writ, injunction, decree, rule or regulation of any arbitrator or Governmental Authority, in each case that could reasonably be expected to result in
any Material Adverse Effect. 

  
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 (e) Approvals. No order, consent, approval, license, authorization or validation of,
or filing, recording or registration with, or exemption by, or other action of, any Governmental Authority or any third party is required to authorize, or is required in connection with, (i) the execution, delivery and performance by Guarantor
of this Guarantee, (ii) the legality, validity, binding effect or enforceability of this Guarantee, or (iii) the consummation of the transactions contemplated by this Guarantee, in each case which has not been obtained and which the
failure to obtain could reasonably be expected to have a Materially Adverse Effect. 
 (f) True and Complete Disclosure.
The information, reports, financial statements, exhibits and schedules furnished in writing by or at the direction of Guarantor to Purchaser in connection with the negotiation, preparation or delivery of this Guarantee and the Repurchase Documents
or included herein or therein or delivered pursuant hereto or thereto, when taken as a whole, (x) do not contain any untrue statement of material fact and (y) contain all statements of material fact necessary to make the statements herein
or therein, in light of the circumstances under which they were made, true. All written information furnished after the date hereof by or at the direction of Guarantor to Purchaser in connection with this Guarantee or the other Repurchase Documents
and the transactions contemplated hereby and thereby, will be true, complete and accurate in every material respect, or (in the case of projections) will be based on reasonable estimates, on the date as of which such information is stated or
certified. There is no fact known to the best knowledge of the chief financial officer and treasurer of Guarantor, after due inquiry, that could reasonably be expected to have a Material Adverse Effect that has not been disclosed herein or in a
report, financial statement, exhibit, schedule, disclosure letter or other writing furnished to Purchaser for use in connection with the Transactions. 
 Section 9. Covenants of Guarantor. Guarantor covenants and agrees with Purchaser that, until payment in full of all Guaranteed Obligations: 

(a) Financial Statements, Reports, etc. Guarantor shall deliver to Purchaser the financial reports and statement required pursuant
to Article 11(i) of the Repurchase Agreement. 
 (b) Administrative Agent for Purchased Assets. Guarantor shall not:

 (i) resign as Administrative Agent for any Purchased Asset or otherwise permit another Person to be appointed as
Administrative Agent for any Purchased Asset (except to the extent expressly contemplated in the Repurchased Agreement following the occurrence of an Event of Default); or 
 (ii) after the occurrence and during the continuance of a Default or an Event of Default, take any action as Administrative Agent for any Purchased Asset without the prior written consent of Purchaser in
its sole and absolute discretion, except as otherwise provided in the Servicing Agreement with respect to the Servicer. 
 (c)
Litigation. Guarantor will promptly, and in any event within five (5) Business Days after notice or actual knowledge of any of the following, give to Purchaser notice 

  
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of all litigation, actions, suits, arbitrations, investigations (including, without limitation, any of the foregoing which are pending or threatened in writing) or other legal or arbitrable
proceedings with respect to Guarantor, Seller or Servicer (to the extent Servicer is an Affiliate of Guarantor) before any Governmental Authority that (i) questions or challenges the validity or enforceability of this Guarantee, any of the
Repurchase Documents or any action to be taken in connection with the Transactions, (ii) makes a claim or claims against Seller in an aggregate amount in excess of $500,000 or against Guarantor in an aggregate amount greater than $5,000,000, or
(iii) which, individually or in the aggregate, if adversely determined could reasonably be likely to have a Material Adverse Effect with respect to Seller or Guarantor. 
 (d) Existence, etc. Guarantor will: 
 (i) at all times (x) comply
with all material contractual obligations, (y) comply in all respects with all laws, ordinances, rules, regulations and orders (including, without limitation, environmental laws) of any Governmental Authority or any other federal, state,
municipal or other public authority having jurisdiction over Seller or any of its assets and Seller shall do or cause to be done all things necessary to preserve and maintain in full force and effect its legal existence, and all licenses material to
its business and (z) maintain and preserve its legal existence and all of its material rights, privileges, licenses and franchises necessary for the operation of its business, except in each case to the extent that the failure to so comply,
maintain or preserve would not reasonably be expected to result in a Material Adverse Effect; 
 (ii) pay and discharge all
taxes, assessments and governmental charges or levies imposed on it or on its income or profits or on any of its property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge or levy the payment of which
is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained and except to the extent that failure to pay or discharge such amount would not result in a Material Adverse Effect; and 

(iii) solely for the purposes of, and in accordance with, Article 26 of the Repurchase Agreement, permit representatives of Purchaser,
during normal business hours, to examine, copy and make extracts from its books and records, to inspect any of its properties, and to discuss its business and affairs with its officers, all to the extent reasonably requested by Purchaser.

 (e) Prohibition of Fundamental Changes. Without at least thirty (30) days prior written notice to Purchaser,
Guarantor shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets. 

(f) Notices. Guarantor shall give notice to Purchaser promptly upon receipt or knowledge of the occurrence of any Default or Event
of Default under this Guarantee, the Repurchase Agreement or any other Repurchase Document. 
 (g) [reserved].

 (h) Assignment. Guarantor shall not assign, and shall not permit Seller to assign, any of its or Seller’s rights
or obligations under the Repurchase Documents or with respect to the Transactions. Purchaser may assign its rights and obligations under this Guarantee in accordance with Article 18 of the Repurchase Agreement. 

  
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 (i) Minimum Tangible Net Worth. Guarantor (and its Subsidiaries), on a consolidated
basis, shall maintain at all times a Tangible Net Worth of at least $400,000,000 (the “Minimum Tangible Net Worth Amount”), which Minimum Tangible Net Worth Amount shall be automatically reduced (dollar for dollar) by the amount of
any reduction in the assets designated on Guarantor’s audited consolidated balance sheet as “deferred income taxes, net” and/or “deferred financing costs, net” from such amounts as shown on Guarantor’s audited
consolidated balance sheet as of December 31, 2010. 
 Section 10. No Marshalling; Reinstatement. Guarantor consents
and agrees that neither Purchaser nor any Person or entity acting for or on behalf of Purchaser shall be under any obligation to marshal any assets in favor of Guarantor or against or in payment of any or all of the Guaranteed Obligations. Guarantor
further agrees that, to the extent that Seller, Guarantor or any other guarantor of all or any part of the Guaranteed Obligations makes a payment or payments to Purchaser, or Purchaser receives any proceeds of collateral, which payment or payments
or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to Seller, Guarantor, such other guarantor or any other Person or entity, under any bankruptcy law, state or federal
law, common law or equitable cause, then, to the extent of such payment or repayment, the part of the Guaranteed Obligations which has been paid, reduced or satisfied by such amount shall be reinstated and continued in full force and effect as of
the time immediately preceding such initial payment, reduction or satisfaction. 
 Section 11. Subrogation. Guarantor
(i) shall have no right of subrogation with respect to the Guaranteed Obligations prior to payment in full of all obligations which shall be owing to Purchaser under the Repurchase Documents and (ii) waives any right to enforce any remedy
which Purchaser now or may hereafter have against Guarantor, Seller, any endorser or any guarantor of all or any part of the Guaranteed Obligations or any other Person or entity, and Guarantor waives any benefit of, and any right to participate in,
any security or collateral given to Purchaser to secure the payment of all or any part of the Guaranteed Obligations. 
 Section
12. Enforcement; Amendments; Waivers. No delay on the part of Purchaser in the exercise of any right or remedy arising under this Guarantee, the Repurchase Documents, any other related document, or otherwise with respect to all or any part of
the Guaranteed Obligations, shall operate as a waiver thereof, and no single or partial exercise by Purchaser of any such right or remedy shall preclude any further exercise thereof. No modification or waiver of any of the provisions of this
Guarantee shall be binding upon Purchaser, except as expressly set forth in a writing duly signed and delivered by Purchaser. Failure by Purchaser at any time or times hereafter to require strict performance by Seller, Guarantor, any other guarantor
of all or any part of the Guaranteed Obligations or any other Person or entity of any of the provisions, warranties, terms and conditions contained in the Repurchase Documents or any other related document now or at any time or times hereafter
executed and delivered to Purchaser shall not waive, affect or diminish any right of Purchaser at any time or times hereafter to demand strict performance thereof. Any determination by a court of competent jurisdiction which has become final by
appeal or lapse of time for appeal of the 

  
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amount of the Guaranteed Obligations owing by Guarantor or Seller to Purchaser shall be conclusive and binding on Guarantor irrespective of whether Guarantor was a party to the suit or action in
which such determination was made. 
 Section 13. Effectiveness; Termination. This Guarantee shall become effective upon
its execution by Guarantor and shall continue in full force and effect and may not be terminated or otherwise revoked, but shall be terminated upon the termination of the Repurchase Documents and payment in full of all amounts owing to Purchaser
under the Repurchase Documents, without further action of the parties, subject to the provisions of this Guarantee, which provisions expressly survive termination. If, notwithstanding the foregoing, Guarantor shall have any right under applicable
law to terminate or revoke this Guarantee, Guarantor agrees that, except as provided in the preceding sentence, such termination or revocation shall not be effective until a written notice of such revocation or termination, specifically referring
hereto, signed by Guarantor is actually received by Purchaser. Such notice shall not affect the right and power of Purchaser to enforce rights arising prior to receipt of the notice. 

Section 14. Successors and Assigns. This Guarantee shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns, except that Guarantor may not assign or otherwise transfer any of its rights or obligations hereunder (and any attempted assignment or transfer by Guarantor shall be null and void). Nothing in this
Guarantee, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, the Affiliates of Purchaser) any
legal or equitable right, remedy or claim under or by reason of this Guarantee. 
 Section 15. Governing Law. THIS
AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO THE CONFLICT OF LAWS DOCTRINE
APPLIED IN SUCH STATE (OTHER THAN SECTION 5-140 1 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 
 Section 16.
Submission to Jurisdiction; Waivers. GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY: 
 (a) SUBMITS FOR ITSELF AND
ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, THE FEDERAL COURTS OF THE
UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF; 
 (b) CONSENTS
THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS, AND TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR
PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; 

  
 10 

 (c) AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY
MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH UNDER ITS SIGNATURE BELOW OR AT SUCH OTHER ADDRESS OF WHICH PURCHASER SHALL HAVE BEEN NOTIFIED; AND

 (d) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR
SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION. 
 Section 17. Waiver of Jury Trial. EACH OF GUARANTOR AND
PURCHASER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTEE OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 18. Notices. All notices, requests and other communications concerning this Guarantee shall be given or made in accordance
with the Repurchase Agreement. 
 Section 19. Entire Agreement; Severability. This Guarantee contains the final agreement
with respect to the matters contained herein by Guarantor and may not be contradicted by evidence of prior or contemporaneous agreements, or subsequent oral agreements, between Guarantor and Purchaser. If any of the provisions of this Guarantee
shall be held invalid or unenforceable, this Guarantee shall be construed as if not containing such provisions, and the rights and obligations of the parties hereto shall be construed and enforced accordingly. 

Section 20. Execution in Counterparts. This Guarantee may be executed in any number of counterparts, all of which taken together
shall constitute one and the same instrument, and the party hereto may execute this Guarantee by signing any such counterpart. 

Section 21. General Interpretive Provisions. FOR THE AVOIDANCE OF DOUBT, GUARANTOR ACKNOWLEDGES AND AGREES THAT WHENEVER PURSUANT
TO THIS GUARANTEE OR ANY OTHER TRANSACTION DOCUMENT, PURCHASER MAY EXERCISE ANY RIGHT GIVEN TO IT TO TAKE ANY ACTION OR NOT TAKE ANY ACTION IN ITS SOLE AND ABSOLUTE DISCRETION, TO APPROVE OR DISAPPROVE IN ITS SOLE AND ABSOLUTE DISCRETION, TO CONSENT
OR NOT CONSENT IN ITS SOLE AND ABSOLUTE DISCRETION, OR ANY ARRANGEMENT OR TERM IS TO BE SATISFACTORY OR ACCEPTABLE TO PURCHASER IN ITS SOLE AND ABSOLUTE DISCRETION, PURCHASER MAY TAKE OR NOT TAKE SUCH ACTION, APPROVE OR DISAPPROVE, CONSENT OR NOT
CONSENT OR DECIDE WHETHER ARRANGEMENTS OR TERMS ARE SATISFACTORY OR ACCEPTABLE OR NOT SATISFACTORY OR ACCEPTABLE, IN EACH CASE IN ITS SOLE AND 

  
 11 

 
ABSOLUTE DISCRETION FOR ANY REASON OR FOR NO REASON, AND ANY SUCH DECISION SHALL BE FINAL AND CONCLUSIVE AND BINDING ON GUARANTOR. GUARANTOR FURTHER ACKNOWLEDGES AND AGREE THAT:
(I) GUARANTOR IS A SOPHISTICATED PARTY; (II) THE FOREGOING SENTENCE WAS NEGOTIATED BY THE PARTIES HERETO (WITH THE ADVICE OF COUNSEL) ON AN ARM’S LENGTH BASIS IN GOOD FAITH; AND (III) THAT THE NEGOTIATED STANDARDS SET FORTH IN THE
FOREGOING SENTENCE WERE A MATERIAL INDUCEMENT FOR PURCHASER TO ENTER INTO THIS GUARANTEE AND THE OTHER TRANSACTION DOCUMENTS AND TO CONSUMMATE THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY. 

[SIGNATURE PAGE FOLLOWS] 

  
 12 

 IN WITNESS WHEREOF, this Guarantee has been duly executed by Guarantor as an instrument
under seal as of the day and year first set forth above. 
  

			
	GUARANTOR
	
	NEWSTAR FINANCIAL, INC., a Delaware corporation
		
	By:	 	 /s/ JOHN J. FRISHKOPF

		 	Name: John J. Frishkopf
		 	Title: Treasurer

			
	Acknowledged:
	
	MACQUARIE BANK LIMITED,
	an Australian corporation
		
	By:	 	 /s/ MARK WONG

		 	Name: Mark Wong
		 	Title: Executive Director
		
	By:	 	 /s/ MELANIE LINCOLN

		 	Name: Melanie Lincoln
		 	Title: Senior Manager2011 Incentive Compensation Plan

 Exhibit 10.1 
 IDENTIVE GROUP, INC. 
 2011 INCENTIVE COMPENSATION PLAN 

 IDENTIVE GROUP, INC. 

2011 INCENTIVE COMPENSATION PLAN 
  

							
			
	1.	  	Purpose	  	 	1	  
			
	2.	  	Definitions	  	 	1	  
			
	3.	  	Administration	  	 	6	  
			
	4.	  	Shares Subject to Plan	  	 	7	  
			
	5.	  	Eligibility; Per-Person Award Limitations	  	 	8	  
			
	6.	  	Specific Terms of Awards	  	 	9	  
			
	7.	  	Certain Provisions Applicable to Awards	  	 	15	  
			
	8.	  	Code Section 162(m) Provisions	  	 	18	  
			
	9.	  	Change in Control	  	 	19	  
			
	10.	  	General Provisions	  	 	21	  

 IDENTIVE GROUP, INC. 

2011 INCENTIVE COMPENSATION PLAN 
 1. Purpose. The purpose of this 2011 INCENTIVE COMPENSATION PLAN (the “Plan”) is to assist Identive Group, Inc., a Delaware corporation (the “Company”) and its Related
Entities (as hereinafter defined) in attracting, motivating, retaining and rewarding high-quality executives and other employees, officers, directors, consultants and other persons who provide services to the Company or its Related Entities by
enabling such persons to acquire or increase a proprietary interest in the Company in order to strengthen the mutuality of interests between such persons and the Company’s stockholders, and providing such persons with annual and long term
performance incentives to expend their maximum efforts in the creation of stockholder value. 
 2. Definitions.
For purposes of the Plan, the following terms shall be defined as set forth below, in addition to such terms defined in Section 1 hereof and elsewhere herein. 
 (a) “2007 Plan” means the Company’s 2007 Stock Option Plan, as amended. 
 (b) “2010 Plan” means the Company’s 2010 Bonus and Incentive Plan, as amended. 
 (c) “Award” means any Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award, Share granted as a bonus or in lieu of another Award, Dividend
Equivalent, Other Stock-Based Award or Performance Award, together with any other right or interest, granted to a Participant under the Plan. 
 (d) “Award Agreement” means any written agreement, contract or other instrument or document evidencing any Award granted by the Committee hereunder. 

(e) “Beneficiary” means the person, persons, trust or trusts that have been designated by a Participant in his or
her most recent written beneficiary designation filed with the Committee to receive the benefits specified under the Plan upon such Participant’s death or to which Awards or other rights are transferred if and to the extent permitted under
Section 10(b) hereof. If, upon a Participant’s death, there is no designated Beneficiary or surviving designated Beneficiary, then the term Beneficiary means the person, persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits. 
 (f) “Beneficial Owner” and
“Beneficial Ownership” shall have the meaning ascribed to such term in Rule 13d-3 under the Exchange Act and any successor to such Rule. 
 (g) “Board” means the Company’s Board of Directors. 

(h) “Cause” shall, with respect to any Participant, have the meaning specified in the Award Agreement. In the
absence of any definition in the Award Agreement, “Cause” shall have the equivalent meaning or the same meaning as “cause” or “for cause” set forth in any employment, consulting, or other agreement for the performance
of services between the Participant and the Company or a Related Entity or, in the absence of any such agreement or any such definition in such agreement, such term shall mean (i) the failure by the Participant to perform, in a reasonable
manner, his or her duties as assigned by the Company or a Related 

 
Entity, (ii) any violation or breach by the Participant of his or her employment, consulting or other similar agreement with the Company or a Related Entity, if any, (iii) any violation
or breach by the Participant of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or a Related Entity, (iv) any act by the Participant of dishonesty or bad faith with respect to the Company or
a Related Entity, (v) use of alcohol, drugs or other similar substances in a manner that adversely affects the Participant’s work performance, or (vi) the commission by the Participant of any act, misdemeanor, or crime reflecting
unfavorably upon the Participant or the Company or any Related Entity. The good faith determination by the Committee of whether the Participant’s Continuous Service was terminated by the Company for “Cause” shall be final and binding
for all purposes hereunder. 
 (i) “Change in Control” means a Change in Control as defined in
Section 9(b) of the Plan. 
 (j) “Code” means the Internal Revenue Code of 1986, as amended from
time to time, including regulations thereunder and successor provisions and regulations thereto. 
 (k)
“Committee” means a committee designated by the Board to administer the Plan; provided, however, that if the Board fails to designate a committee or if there are no longer any members on the committee so designated by the
Board, or for any other reason determined by the Board, then the Board shall serve as the Committee. While it is intended that the Committee shall consist of at least two directors, each of whom shall be (i) a “non-employee director”
within the meaning of Rule 16b-3 (or any successor rule) under the Exchange Act, unless administration of the Plan by “non-employee directors” is not then required in order for exemptions under Rule 16b-3 to apply to transactions under the
Plan, (ii) an “outside director” within the meaning of Section 162(m) of the Code, and (iii) “Independent”, the failure of the Committee to be so comprised shall not invalidate any Award that otherwise satisfies
the terms of the Plan. 
 (l) “Consultant” means any Person (other than an Employee or a Director,
solely with respect to rendering services in such Person’s capacity as a director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or such Related Entity. 

(m) “Continuous Service” means the uninterrupted provision of services to the Company or any Related Entity in
any capacity of Employee, Director, Consultant or other service provider. Continuous Service shall not be considered to be interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related
Entities, or any successor entities, in any capacity of Employee, Director, Consultant or other service provider, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity
of Employee, Director, Consultant or other service provider (except as otherwise provided in the Award Agreement). An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave. 

(n) “Covered Employee” means the Person who, as of the end of the taxable year, either is the principal executive
officer of the Company or is serving as the acting principal executive officer of the Company, and each other Person whose compensation is required to be 

  
 2 

 
disclosed in the Company’s filings with the Securities and Exchange Commission by reason of that person being among the three highest compensated officers of the Company as of the end of a
taxable year, or such other person as shall be considered a “covered employee” for purposes of Section 162(m) of the Code. 
 (o) “Director” means a member of the Board or the board of directors of any Related Entity. 
 (p) “Disability” means a permanent and total disability (within the meaning of Section 22(e) of the Code), as determined by a medical doctor satisfactory to the Committee.

 (q) “Dividend Equivalent” means a right, granted to a Participant under Section 6(g) hereof, to
receive cash, Shares, other Awards or other property equal in value to dividends paid with respect to a specified number of Shares, or other periodic payments. 
 (r) “Effective Date” means the effective date of the Plan, which shall be April 7, 2011. 
 (s) “Eligible Person” means each officer, Director, Employee, Consultant and other person who provides services to the Company or any Related Entity. The foregoing notwithstanding,
only Employees of the Company, or any parent corporation or subsidiary corporation of the Company (as those terms are defined in Sections 424(e) and (f) of the Code, respectively), shall be Eligible Persons for purposes of receiving any
Incentive Stock Options. An Employee on leave of absence may, in the discretion of the Committee, be considered as still in the employ of the Company or a Related Entity for purposes of eligibility for participation in the Plan. 

(t) “Employee” means any person, including an officer or Director, who is an employee of the Company or any
Related Entity. The payment of a director’s fee by the Company or a Related Entity shall not be sufficient to constitute “employment” by the Company. 
 (u) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, including rules thereunder and successor provisions and rules thereto. 

(v) “Fair Market Value” means the fair market value of Shares, Awards or other property as determined by the
Committee, or under procedures established by the Committee. Unless otherwise determined by the Committee, the Fair Market Value of a Share as of any given date shall be the closing sale price per Share reported on a consolidated basis for stock
listed on the principal stock exchange or market on which Shares are traded on the date as of which such value is being determined (or as of such later measurement date as determined by the Committee on the date the Award is authorized by the
Committee), or, if there is no sale on that date, then on the last previous day on which a sale was reported. 
 (w)
“Good Reason” shall, with respect to any Participant, have the meaning specified in the Award Agreement. In the absence of any definition in the Award Agreement, “Good Reason” shall have the equivalent meaning or
the same meaning as “good reason” or “for good reason” set forth in any employment, consulting or other agreement for the performance of services between the Participant and the Company or a Related Entity or, in the absence of
any 

  
 3 

 
such agreement or any such definition in such agreement, such term shall mean (i) the assignment to the Participant of any duties inconsistent in any material respect with the
Participant’s duties or responsibilities as assigned by the Company or a Related Entity, or any other action by the Company or a Related Entity which results in a material diminution in such duties or responsibilities, excluding for this
purpose an action which is remedied by the Company or a Related Entity promptly after receipt of notice thereof given by the Participant; (ii) any material failure by the Company or a Related Entity to comply with its obligations to the
Participant as agreed upon, other than a failure which is remedied by the Company or a Related Entity promptly after receipt of notice thereof given by the Participant; or (iii) the Company’s or Related Entity’s requiring the
Participant to be based at any office or location outside of fifty miles from the location of employment or service as of the date of Award, except for travel reasonably required in the performance of the Participant’s responsibilities.

 (x) “Incentive Stock Option” means any Option intended to be designated as an incentive stock option
within the meaning of Section 422 of the Code or any successor provision thereto. 
 (y)
“Independent”, when referring to either the Board or members of the Committee, shall have the same meaning as used in the rules of the Listing Market. 
 (z) “Incumbent Board” means the Incumbent Board as defined in Section 9(b)(ii) hereof. 
 (aa) “Listing Market” means the NASDAQ Stock Market or any other national securities exchange on which any securities of the Company are listed for trading or, if not so listed,
any automated dealer quotation system on which the securities are quoted. 
 (bb) “Option” means a right
granted to a Participant under Section 6(b) hereof, to purchase Shares or other Awards at a specified price during specified time periods. 
 (cc) “Optionee” means a person to whom an Option is granted under this Plan or any person who succeeds to the rights of such person under this Plan. 

(dd) “Other Stock-Based Awards” means Awards granted to a Participant under Section 6(i) hereof. 

(ee) “Participant” means a person who has been granted an Award under the Plan which remains outstanding,
including a person who is no longer an Eligible Person. 
 (ff) “Performance Award” means any Award of
Performance Shares or Performance Units granted pursuant to Section 6(h) hereof. 
 (gg) “Performance
Period” means that period established by the Committee at the time any Performance Award is granted or at any time thereafter during which any performance goals specified by the Committee with respect to such Award are to be measured.

 (hh) “Performance Share” means any grant pursuant to Section 6(h) hereof of a unit valued by
reference to a designated number of Shares, which value may be paid to the 

  
 4 

 
Participant by delivery of such property as the Committee shall determine, including cash, Shares, other property, or any combination thereof, upon achievement of such performance goals during
the Performance Period as the Committee shall establish at the time of such grant or thereafter. 
 (ii) “Performance
Unit” means any grant pursuant to Section 6(h) hereof of a unit valued by reference to a designated amount of property (including cash) other than Shares, which value may be paid to the Participant by delivery of such property as
the Committee shall determine, including cash, Shares, other property, or any combination thereof, upon achievement of such performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter.

 (jj) “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange
Act and used in Sections 13(d) and 14(d) thereof, and shall include a “group” as defined in Section 13(d) thereof. 
 (kk) “Related Entity” means any Subsidiary, and any business, corporation, partnership, limited liability company or other entity designated by the Board, in which the Company or a
Subsidiary holds a substantial ownership interest, directly or indirectly. 
 (ll) “Restricted Stock”
means any Share issued with the restriction that the holder may not sell, transfer, pledge or assign such Share and with such risks of forfeiture and other restrictions as the Committee, in its sole discretion, may impose (including any restriction
on the right to vote such Share and the right to receive any dividends), which restrictions may lapse separately or in combination at such time or times, in installments or otherwise, as the Committee may deem appropriate. 

(mm) “Restricted Stock Award” means an Award granted to a Participant under Section 6(d) hereof. 

(nn) “Restricted Stock Unit” means a right to receive Shares, including Restricted Stock, cash measured based
upon the value of Shares or a combination thereof, at the end of a specified deferral period. 
 (oo) “Restricted
Stock Unit Award” means an Award of Restricted Stock Unit granted to a Participant under Section 6(e) hereof. 

(pp) “Restriction Period” means the period of time specified by the Committee that Restricted Stock Awards shall
be subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose. 
 (qq) “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants, promulgated by the Securities and Exchange Commission under
Section 16 of the Exchange Act. 
 (rr) “Shares” means the shares of common stock of the Company,
par value $0.001 per share, and such other securities as may be substituted (or resubstituted) for Shares pursuant to Section 10(c) hereof. 

  
 5 

 (ss) “Stock Appreciation Right” means a right granted to a
Participant under Section 6(c) hereof. 
 (tt) “Subsidiary” means any corporation or other entity
in which the Company has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then outstanding securities or interests of such corporation or other entity entitled to vote generally in the election of
directors or in which the Company has the right to receive 50% or more of the distribution of profits or 50% or more of the assets on liquidation or dissolution. 
 (uu) “Substitute Awards” means Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, Awards previously granted, or the right or
obligation to make future Awards, by a company (i) acquired by the Company or any Related Entity, (ii) which becomes a Related Entity after the date hereof, or (iii) with which the Company or any Related Entity combines. 

3. Administration. 
 (a) Authority of the Committee. The Plan shall be administered by the Committee, except to the extent (and subject to the limitations imposed by Section 3(b) hereof) the Board elects to
administer the Plan, in which case the Plan shall be administered by only those members of the Board who are Independent members of the Board, in which case references herein to the “Committee” shall be deemed to include references to the
Independent members of the Board. The Committee shall have full and final authority, subject to and consistent with the provisions of the Plan, to select Eligible Persons to become Participants, grant Awards, determine the type, number and other
terms and conditions of, and all other matters relating to, Awards, prescribe Award Agreements (which need not be identical for each Participant) and rules and regulations for the administration of the Plan, construe and interpret the Plan and Award
Agreements and correct defects, supply omissions or reconcile inconsistencies therein, and to make all other decisions and determinations as the Committee may deem necessary or advisable for the administration of the Plan. In exercising any
discretion granted to the Committee under the Plan or pursuant to any Award, the Committee shall not be required to follow past practices, act in a manner consistent with past practices, or treat any Eligible Person or Participant in a manner
consistent with the treatment of any other Eligible Persons or Participants. 
 (b) Manner of Exercise of Committee
Authority. The Committee, and not the Board, shall exercise sole and exclusive discretion (i) on any matter relating to a Participant then subject to Section 16 of the Exchange Act with respect to the Company to the extent
necessary in order that transactions by such Participant shall be exempt under Rule 16b-3 under the Exchange Act, (ii) with respect to any Award that is intended to qualify as “performance-based compensation” under
Section 162(m), to the extent necessary in order for such Award to so qualify; and (iii) with respect to any Award to an Independent Director. Any action of the Committee shall be final, conclusive and binding on all persons, including the
Company, its Related Entities, Eligible Persons, Participants, Beneficiaries, transferees under Section 10(b) hereof or other persons claiming rights from or through a Participant, and stockholders. The express grant of any specific power to
the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee. The 

  
 6 

 
Committee may delegate to officers or managers of the Company or any Related Entity, or committees thereof, the authority, subject to such terms and limitations as the Committee shall determine,
to perform such functions, including administrative functions as the Committee may determine to the extent that such delegation will not result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to
Section 16 of the Exchange Act in respect of the Company and will not cause Awards intended to qualify as “performance-based compensation” under Code Section 162(m) to fail to so qualify. The Committee may appoint agents to
assist it in administering the Plan. 
 (c) Limitation of Liability. The Committee and the Board, and each member
thereof, shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or Employee, the Company’s independent auditors, Consultants or any other agents assisting in the
administration of the Plan. Members of the Committee and the Board, and any officer or Employee acting at the direction or on behalf of the Committee or the Board, shall not be personally liable for any action or determination taken or made in good
faith with respect to the Plan, and shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action or determination. 
 4. Shares Subject to Plan. 
 (a) Limitation on Overall Number
of Shares Available for Delivery Under Plan. Subject to adjustment as provided in Section 10(c) hereof, the total number of Shares reserved and available for delivery under the Plan shall be 4,000,000, plus any Shares remaining
available for delivery under the 2007 Plan and the 2010 Plan on the Stockholder Approval Date. Any Shares delivered under the Plan may consist, in whole or in part, of authorized and unissued shares or treasury shares. 

(b) Application of Limitation to Grants of Awards. No Award may be granted if the number of Shares to be delivered in
connection with such an Award exceeds the number of Shares remaining available for delivery under the Plan, minus the number of Shares deliverable in settlement of or relating to then outstanding Awards. The Committee 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 actually delivered differs from the number of Shares previously counted in
connection with an Award. 
 (c) Availability of Shares Not Delivered under Awards and Adjustments to Limits.

 (i) If any Awards are forfeited, expire or otherwise terminate without issuance of such Shares, or any Award is settled for
cash or otherwise does not result in the issuance of all or a portion of the Shares subject to such Award, the Shares to which those Awards were subject, shall, to the extent of such forfeiture, expiration, termination, cash settlement or
non-issuance, again be available for delivery with respect to Awards under the Plan, subject to Section 4(c)(iv) below. 

  
 7 

 (ii) In the event that any Option or other Award granted hereunder is exercised through
the tendering of Shares (either actually or by attestation) or by the withholding of Shares by the Company, or withholding tax liabilities arising from such Option or other Award are satisfied by the tendering of Shares (either actually or by
attestation) or by the withholding of Shares by the Company, then only the number of Shares issued net of the Shares tendered or withheld shall be counted for purposes of determining the maximum number of Shares available for grant under the Plan.

 (iii) Substitute Awards shall not reduce the Shares authorized for delivery under the Plan or authorized for delivery to a
Participant in any period. Additionally, in the event that a company acquired by the Company or any Related Entity or with which the Company or any Related Entity combines has shares available under a pre-existing plan approved by its stockholders,
the shares available for delivery pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to
determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for delivery under the Plan; if and to the
extent that the use of such Shares would not require approval of the Company’s stockholders under the rules of the Listing Market. 
 (iv) Any Share that again becomes available for delivery pursuant to this Section 4(c) shall be added back as one (1) Share. 

(v) Notwithstanding anything in this Section 4(c) to the contrary but subject to adjustment as provided in Section 10(c)
hereof, the maximum aggregate number of Shares that may be delivered under the Plan as a result of the exercise of the Incentive Stock Options shall be 4,000,000 Shares. 
 (d) Awards Under the 2007 Plan and the 2010 Plan. This Plan will serve as the successor to the 2007 Plan. Awards granted under the 2007 Plan prior to the Stockholder Approval Date shall
continue to be governed by the terms of the 2007 Plan; however, no further awards shall be made under the 2007 Plan after the Stockholder Approval Date. For the avoidance of doubt, securities issuable in connection with awards granted under the 2010
Plan after the Stockholder Approval Date shall be issued in accordance with and governed by the terms of the 2011 Plan. 
 5.
Eligibility; Per-Person Award Limitations. Awards may be granted under the Plan only to Eligible Persons. Subject to adjustment as provided in Section 10(c), in any fiscal year of the Company during any part of which the Plan is
in effect, no Participant may be granted (i) Options or Stock Appreciation Rights with respect to more than 500,000 Shares or (ii) Restricted Stock, Restricted Stock Units, Performance Shares and/or Other Stock-Based Awards with respect to
more than 500,000 Shares. In addition, the maximum dollar value payable to any one Participant with respect to Performance Units is (x) $3,000,000 with respect to any 12 month Performance Period (pro-rated for any Performance Period that is
less than 12 months based upon the ratio of the number of days in the Performance Period as compared to 365), and (y) with respect to any Performance Period that is more than 12 months, $3,000,000 multiplied by the number of full 12 month
periods that are in the Performance Period. 

  
 8 

 6. Specific Terms of Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee
may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 10(e)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including
terms requiring forfeiture of Awards in the event of termination of the Participant’s Continuous Service and terms permitting a Participant to make elections relating to his or her Award. Except as otherwise expressly provided herein, the
Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan. Except in cases in which the Committee is authorized to require other forms of
consideration under the Plan, or to the extent other forms of consideration must be paid to satisfy the requirements of Delaware law, no consideration other than services may be required for the grant (as opposed to the exercise) of any Award.

 (b) Options. The Committee is authorized to grant Options to any Eligible Person on the following terms and
conditions: 
 (i) Exercise Price. Other than in connection with Substitute Awards, the exercise price per Share
purchasable under an Option shall be determined by the Committee, provided that such exercise price shall not, in the case of Incentive Stock Options, be less than 100% of the Fair Market Value of a Share on the date of grant of the Option and shall
not, in any event, be less than the par value of a Share on the date of grant of the Option. If an Employee owns or is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) more than 10% of the combined
voting power of all classes of stock of the Company (or any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and an Incentive Stock Option is granted
to such Employee, the exercise price of such Incentive Stock Option (to the extent required by the Code at the time of grant) shall be no less than 110% of the Fair Market Value of a Share on the date such Incentive Stock Option is granted.

 (ii) Time and Method of Exercise. The Committee shall determine the time or times at which or the
circumstances under which an Option may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at which Options shall cease to be or become exercisable following
termination of Continuous Service or upon other conditions, the methods by which the exercise price may be paid or deemed to be paid (including in the discretion of the Committee a cashless exercise procedure), the form of such payment, including,
without limitation, cash, Shares (including without limitation the withholding of Shares otherwise deliverable pursuant to the Award), other Awards or awards granted under other plans of the Company or a Related Entity, or other property (including
notes or other contractual obligations of Participants to make payment on a deferred basis provided that such deferred payments are not in violation of Section 13(k) of the Exchange Act, or any rule or regulation adopted thereunder or any other
applicable law), and the methods by or forms in which Shares will be delivered or deemed to be delivered to Participants. 

  
 9 

 (iii) Incentive Stock Options. The terms of any Incentive Stock Option
granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code. Anything in the Plan to the contrary notwithstanding, no term of the Plan relating to Incentive Stock Options (including any Stock Appreciation
Right issued in tandem therewith) shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify either the Plan or any Incentive Stock Option under Section 422 of the
Code, unless the Participant has first requested, or consents to, the change that will result in such disqualification. Thus, if and to the extent required to comply with Section 422 of the Code, Options granted as Incentive Stock Options shall
be subject to the following special terms and conditions: 
 (A) the Option shall not be exercisable for more than ten years
after the date such Incentive Stock Option is granted; provided, however, that if a Participant owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10% of the combined voting power of all
classes of stock of the Company (or any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) and the Incentive Stock Option is granted to such Participant,
the term of the Incentive Stock Option shall be (to the extent required by the Code at the time of the grant) for no more than five years from the date of grant; and 
 (B) The aggregate Fair Market Value (determined as of the date the Incentive Stock Option is granted) of the Shares with respect to which Incentive Stock Options granted under the Plan and all other
option plans of the Company (and any parent corporation or subsidiary corporation of the Company, as those terms are defined in Sections 424(e) and (f) of the Code, respectively) that become exercisable for the first time by the Participant
during any calendar year shall not (to the extent required by the Code at the time of the grant) exceed $100,000. 
 (iv)
Non-Discretionary Options for Certain Directors. In addition to any other Options that any Director who is not an Employee may be granted on a discretionary basis under the Plan, each Director who is not an Employee shall be
automatically granted without the necessity of action by the Board or the Committee, Options subject to the following terms and conditions: 
 (A) Initial Grant. On the date that a Director who is not an Employee commences service on the Board, an initial grant of Options that are not intended to be designated as Incentive Stock
Options (“Non-Qualified Stock Options”), shall automatically be made to that Director who is not an Employee (the “Initial Grant”). The number of Shares subject to this Initial Grant and other terms governing this Initial Grant
shall be as determined by the Board in its sole discretion. If the Board does not establish the number of Shares subject to the Initial Grant for a given newly-elected Director who is not an Employee prior to the date of grant for such Initial
Grant, then the number shall be ten thousand (10,000) Shares. If at the time a Director who is also an Employee or does not otherwise qualify as an outside director within the meaning of Section 162(m) of the Code (an “Outside
Director”), commences service on the Board, such Director shall be entitled to an Initial Grant at such time as such Director subsequently is no longer an Employee or qualifies as an Outside Director and if such Director remains a Director.

  
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 (B) Annual Grant. An annual grant of Non-Qualified Stock Options (the
“Annual Grant”) shall automatically be made to each Director who (i) is re-elected to the Board or who otherwise continues as a Director, (ii) qualifies as an Outside Director on the relevant grant date and (iii) has served
as a Director for at least six months. The number of Shares subject to this Annual Grant and other terms governing this Annual Grant shall be as determined by the Board in its sole discretion. If the Board does not establish the number of Shares
subject to the Annual Grant, then the number shall be five thousand (5,000) Shares. The date and time of grant of an Annual Grant is the date of the annual meeting of the Company’s stockholders and the time shall be immediately upon the
adjournment of the annual meeting of the Company’s stockholders. 
 (C) Vesting. Non-Qualified Stock Options
received by the Participant as an Initial Grant or an Annual Grant (collectively the “Director Non-Discretionary Options”) shall vest and become exercisable in twelve (12) equal monthly installments on each monthly anniversary of the
grant date, such that the Award is fully vested after one year of Continuous Service on the Board from the grant date. 
 (D)
Termination of Continuous Service as a Director. In the event a Participant’s Continuous Service as a Director terminates for any reason other than death, the Participant may exercise his or her Director Non-Discretionary Options
to the extent that the Participant was entitled to exercise such Director Non-Discretionary Options as of the date of termination of the Participant’s Continuous Service as a Director, but only within ninety (90) calendar days following
the date of such termination of the Participant’s Continuous Service as a Director (and in no event later than the expiration of the term of such Director Non-Discretionary Options as set forth in the applicable Award Agreement(s)). This period
may be adjusted by the Board in its discretion, provided that the affected Participant shall be recused from such decision of the Board. If the Participant’s Continuous Service as a Director terminates due to death, the Participant’s
estate, a person who acquired the right to exercise the Director Non-Discretionary Options by bequest or inheritance, or a person designated to exercise the Director Non-Discretionary Options upon the Participant’s death pursuant to
Section 10(b) of the Plan, must exercise the Director Non-Discretionary Options to the extent that the Participant was entitled to exercise such Director Non-Discretionary Options as of the date of termination of the Participant’s
Continuous Service as a Director, but only within twelve (12) months following the date of such termination of the Participant’s Continuous Service as a Director (and in no event later than the expiration of the term of such Director
Non-Discretionary Options as set forth in the applicable Award Agreement(s)). This period may be adjusted by the Board in its discretion. If, after termination of the Participant’s Continuous Service as a Director, the Director
Non-Discretionary Options are not exercised within ninety (90) calendar days or twelve months, as applicable, following the date of such termination of the Participant’s Continuous Service as a Director, the Director Non-Discretionary
Options shall terminate. 
 (c) Stock Appreciation Rights. The Committee may grant Stock Appreciation Rights to
any Eligible Person in conjunction with all or part of any Option granted under the Plan or at any subsequent time during the term of such Option (a “Tandem Stock Appreciation Right”), or without regard to any Option (a “Freestanding
Stock Appreciation Right”), in each case upon such terms and conditions as the Committee may establish in its sole discretion, not inconsistent with the provisions of the Plan, including the following: 

(i) Right to Payment. A Stock Appreciation Right shall confer on the Participant to whom it is granted a right to receive,
upon exercise thereof, the excess of (A) the Fair Market Value of one Share on the date of exercise over (B) the grant price of the Stock Appreciation Right as determined by the Committee. The grant price of a Stock Appreciation Right
shall not be less than 100% of the Fair Market Value of a Share on the date of grant, in the case of a Freestanding Stock Appreciation Right, or less than the associated Option exercise price, in the case of a Tandem Stock Appreciation Right.

  
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 (ii) Other Terms. The Committee shall determine at the date of grant or
thereafter, the time or times at which and the circumstances under which a Stock Appreciation Right may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at
which Stock Appreciation Rights shall cease to be or become exercisable following termination of Continuous Service or upon other conditions, the method of exercise, method of settlement, form of consideration payable in settlement, method by or
forms in which Shares will be delivered or deemed to be delivered to Participants, whether or not a Stock Appreciation Right shall be in tandem or in combination with any other Award, and any other terms and conditions of any Stock Appreciation
Right. 
 (iii) Tandem Stock Appreciation Rights. Any Tandem Stock Appreciation Right may be granted at the same
time as the related Option is granted or, for Options that are not Incentive Stock Options, at any time thereafter before exercise or expiration of such Option. Any Tandem Stock Appreciation Right related to an Option may be exercised only when the
related Option would be exercisable and the Fair Market Value of the Shares subject to the related Option exceeds the exercise price at which Shares can be acquired pursuant to the Option. In addition, if a Tandem Stock Appreciation Right exists
with respect to less than the full number of Shares covered by a related Option, then an exercise or termination of such Option shall not reduce the number of Shares to which the Tandem Stock Appreciation Right applies until the number of Shares
then exercisable under such Option equals the number of Shares to which the Tandem Stock Appreciation Right applies. Any Option related to a Tandem Stock Appreciation Right shall no longer be exercisable to the extent the Tandem Stock Appreciation
Right has been exercised, and any Tandem Stock Appreciation Right shall no longer be exercisable to the extent the related Option has been exercised. 
 (d) Restricted Stock Awards. The Committee is authorized to grant Restricted Stock Awards to any Eligible Person on the following terms and conditions: 

(i) Grant and Restrictions. Restricted Stock Awards shall be subject to such restrictions on transferability, risk of
forfeiture and other restrictions, if any, as the Committee may impose, or as otherwise provided in this Plan during the Restriction Period. The terms of any Restricted Stock Award granted under the Plan shall be set forth in a written Award
Agreement which shall contain provisions determined by the Committee and not inconsistent with the Plan. The restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance
goals and/or future service requirements), in such installments or otherwise, as the Committee may determine at the date of grant or thereafter. Except to the extent restricted under the terms of the Plan and any Award Agreement relating to a
Restricted Stock Award, a Participant granted Restricted Stock shall have all of the rights of a stockholder, including the right to vote the Restricted Stock and the 

  
 12 

 
right to receive dividends thereon (subject to any mandatory reinvestment or other requirement imposed by the Committee). During the period that the Restriction Stock Award is subject to a risk
of forfeiture, subject to Section 10(b) below and except as otherwise provided in the Award Agreement, the Restricted Stock may not be sold, transferred, pledged, hypothecated, margined or otherwise encumbered by the Participant. 

(ii) Forfeiture. Except as otherwise determined by the Committee, upon termination of a Participant’s Continuous
Service during the applicable Restriction Period, the Participant’s Restricted Stock that is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited and reacquired by the Company; provided
that the Committee may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that forfeiture conditions relating to Restricted Stock Awards shall be waived in whole or in part in the event of terminations
resulting from specified causes, and the Committee may in other cases waive in whole or in part the forfeiture of Restricted Stock. 
 (iii) Certificates for Stock. Restricted Stock granted under the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Stock are
registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical
possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. 
 (iv) Dividends and Splits. As a condition to the grant of a Restricted Stock Award, the Committee may require or permit a Participant to elect that any cash dividends paid on a Share of
Restricted Stock be automatically reinvested in additional Shares of Restricted Stock or applied to the purchase of additional Awards under the Plan. Unless otherwise determined by the Committee, Shares distributed in connection with a stock split
or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Shares or other property have been distributed.

 (e) Restricted Stock Unit Award. The Committee is authorized to grant Restricted Stock Unit Awards to any
Eligible Person on the following terms and conditions: 
 (i) Award and Restrictions. Satisfaction of a
Restricted Stock Unit Award shall occur upon expiration of the deferral period specified for such Restricted Stock Unit Award by the Committee (or, if permitted by the Committee, as elected by the Participant). In addition, a Restricted Stock Unit
Award shall be subject to such restrictions (which may include a risk of forfeiture) as the Committee may impose, if any, which restrictions may lapse at the expiration of the deferral period or at earlier specified times (including based on
achievement of performance goals and/or future service requirements), separately or in combination, in installments or otherwise, as the Committee may determine. A Restricted Stock Unit Award may be satisfied by delivery of Shares, cash equal to the
Fair Market Value of the specified number of Shares covered by the Restricted Stock Unit, or a combination thereof, as determined by the Committee at the date of grant or thereafter. Prior to satisfaction of a Restricted Stock Unit Award, a
Restricted Stock Unit Award carries no voting or dividend or other rights associated with Share ownership. 

  
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 (ii) Forfeiture. Except as otherwise determined by the Committee, upon
termination of a Participant’s Continuous Service during the applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in the Award Agreement evidencing the Restricted Stock Unit Award), the
Participant’s Restricted Stock Unit Award that is at that time subject to a risk of forfeiture that has not lapsed or otherwise been satisfied shall be forfeited; provided that the Committee may provide, by rule or regulation or in any Award
Agreement, or may determine in any individual case, that forfeiture conditions relating to a Restricted Stock Unit Award shall be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee may in other
cases waive in whole or in part the forfeiture of any Restricted Stock Unit Award. 
 (iii) Dividend Equivalents.
Unless otherwise determined by the Committee at the date of grant, any Dividend Equivalents that are granted with respect to any Restricted Stock Unit Award shall be either (A) paid with respect to such Restricted Stock Unit Award at the
dividend payment date in cash or in Shares of unrestricted stock having a Fair Market Value equal to the amount of such dividends, or (B) deferred with respect to such Restricted Stock Unit Award and the amount or value thereof automatically
deemed reinvested in additional Restricted Stock Units, other Awards or other investment vehicles, as the Committee shall determine or permit the Participant to elect. The applicable Award Agreement shall specify whether any Dividend Equivalents
shall be paid at the dividend payment date, deferred or deferred at the election of the Participant. If the Participant may elect to defer the Dividend Equivalents, such election shall be made within 30 days after the grant date of the Restricted
Stock Unit Award, but in no event later than 12 months before the first date on which any portion of such Restricted Stock Unit Award vests (or at such other times prescribed by the Committee as shall not result in a violation of Section 409A
of the Code). 
 (f) Bonus Stock and Awards in Lieu of Obligations. The Committee is authorized to grant Shares to
any Eligible Persons as a bonus, or to grant Shares or other Awards in lieu of obligations to pay cash or deliver other property under the Plan or under other plans or compensatory arrangements, including, without limitation, annual Director fees
payable to a Director that has elected to receive some or all of such annual Director fees payable to him or her in the form of Shares; provided that, in the case of Eligible Persons subject to Section 16 of the Exchange Act, the amount of such
grants remains within the discretion of the Committee to the extent necessary to ensure that acquisitions of Shares or other Awards are exempt from liability under Section 16(b) of the Exchange Act. Shares or Awards granted hereunder shall be
subject to such other terms as shall be determined by the Committee. 
 (g) Dividend Equivalents. The Committee is
authorized to grant Dividend Equivalents to any Eligible Person entitling the Eligible Person to receive cash, Shares, other Awards, or other property equal in value to the dividends paid with respect to a specified number of Shares, or other
periodic payments. Dividend Equivalents may be awarded on a free-standing basis or in connection with another Award. The Committee may provide that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been
reinvested in additional Shares, Awards, or other investment vehicles, and subject to such restrictions on transferability and risks of forfeiture, as the Committee may specify. Any such determination by the Committee shall be made at the grant date
of the applicable Award. 

  
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 (h) Performance Awards. The Committee is authorized to grant Performance
Awards to any Eligible Person payable in cash, Shares, or other Awards, on terms and conditions established by the Committee, subject to the provisions of Section 8 if and to the extent that the Committee shall, in its sole discretion,
determine that an Award shall be subject to those provisions. The performance criteria to be achieved during any Performance Period and the length of the Performance Period shall be determined by the Committee upon the grant of each Performance
Award. Except as provided in Section 9 or as may be provided in an Award Agreement, Performance Awards will be distributed only after the end of the relevant Performance Period. The performance goals to be achieved for each Performance Period
shall be conclusively determined by the Committee and may be based upon the criteria set forth in Section 8(b), or in the case of an Award that the Committee determines shall not be subject to Section 8 hereof, any other criteria that the
Committee, in its sole discretion, shall determine should be used for that purpose. The amount of the Award to be distributed shall be conclusively determined by the Committee. Performance Awards may be paid in a lump sum or in installments
following the close of the Performance Period or, in accordance with procedures established by the Committee, on a deferred basis in a manner that does not violate the requirements of Section 409A of the Code. 

(i) Other Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to any
Eligible Person such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as deemed by the Committee to be consistent with the purposes of the Plan. Other
Stock-Based Awards may be granted to Participants either alone or in addition to other Awards granted under the Plan, and such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the
Plan. The Committee shall determine the terms and conditions of such Awards. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 6(i) shall be purchased for such consideration, (including without
limitation loans from the Company or a Related Entity provided that such loans are not in violation of Section 13(k) of the Exchange Act, or any rule or regulation adopted thereunder or any other applicable law) paid for at such times, by such
methods, and in such forms, including, without limitation, cash, Shares, other Awards or other property, as the Committee shall determine. 
 7. Certain Provisions Applicable to Awards. 
 (a) Stand-Alone,
Additional, Tandem, and Substitute Awards. Awards granted under the Plan may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award
granted under another plan of the Company, any Related Entity, or any business entity to be acquired by the Company or a Related Entity, or any other right of a Participant to receive payment from the Company or any Related Entity. Such additional,
tandem, and substitute or exchange Awards may be granted at any time. If an Award is granted in substitution or exchange for another Award or award, the Committee shall require the surrender of such other Award or award in consideration for the
grant of the new Award. In addition, Awards may be 

  
 15 

 
granted in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any Related Entity, in which the value of Shares subject to the Award is
equivalent in value to the cash compensation (for example, Restricted Stock or Restricted Stock Units), or in which the exercise price, grant price or purchase price of the Award in the nature of a right that may be exercised is equal to the Fair
Market Value of the underlying Shares minus the value of the cash compensation surrendered (for example, Options or Stock Appreciation Right granted with an exercise price or grant price “discounted” by the amount of the cash compensation
surrendered), provided that any such determination to grant an Award in lieu of cash compensation must be made in compliance with Section 409A of the Code. 
 (b) Term of Awards. The term of each Award shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Option or Stock Appreciation Right
exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as may be required under Section 422 of the Code). 
 (c) Form and Timing of Payment Under Awards; Deferrals. Subject to the terms of the Plan and any applicable Award Agreement, payments to be made by the Company or a Related Entity upon the
exercise of an Option or other Award or settlement of an Award may be made in such forms as the Committee shall determine, including, without limitation, cash, Shares, other Awards or other property, and may be made in a single payment or transfer,
in installments, or on a deferred basis, provided that any determination to pay in installments or on a deferred basis shall be made by the Committee at the date of grant. Any installment or deferral provided for in the preceding sentence shall,
however, be subject to the Company’s compliance with applicable law and all applicable rules of the Listing Market, and in a manner intended to be exempt from or otherwise satisfy the requirements of Section 409A of the Code. Subject to
Section 7(e) hereof, the settlement of any Award may be accelerated, and cash paid in lieu of Shares in connection with such settlement, in the sole discretion of the Committee or upon occurrence of one or more specified events (in addition to
a Change in Control). Any such settlement shall be at a value determined by the Committee in its sole discretion, which, without limitation, may in the case of an Option or Stock Appreciation Right be limited to the amount if any by which the Fair
Market Value of a Share on the settlement date exceeds the exercise or grant price. Installment or deferred payments may be required by the Committee (subject to Section 7(e) of the Plan, including the consent provisions thereof in the case of
any deferral of an outstanding Award not provided for in the original Award Agreement) or permitted at the election of the Participant on terms and conditions established by the Committee. The Committee may, without limitation, make provision for
the payment or crediting of a reasonable interest rate on installment or deferred payments or the grant or crediting of Dividend Equivalents or other amounts in respect of installment or deferred payments denominated in Shares. 

(d) Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of any Awards to or other
transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16 pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by such Participant).
Accordingly, if any provision of this Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to
the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b). 

  
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 (e) Code Section 409A. 

(i) The Award Agreement for any Award that the Committee reasonably determines to constitute a Section 409A Plan, as defined in
Section 7(e)(ii) hereof, and the provisions of the Plan applicable to that Award, shall be construed in a manner consistent with the applicable requirements of Section 409A, and the Committee, in its sole discretion and without the consent
of any Participant, may amend any Award Agreement (and the provisions of the Plan applicable thereto) if and to the extent that the Committee determines that such amendment is necessary or appropriate to comply with the requirements of
Section 409A of the Code. 
 (ii) If any Award constitutes a “nonqualified deferred compensation plan” under
Section 409A of the Code (a “Section 409A Plan”), then the Award shall be subject to the following additional requirements, if and to the extent required to comply with Section 409A of the Code: 

(A) Payments under the Section 409A Plan may not be made earlier than the first to occur of (u) the Participant’s
“separation from service”, (v) the date the Participant becomes “disabled”, (w) the Participant’s death, (x) a “specified time (or pursuant to a fixed schedule)” specified in the Award Agreement at
the date of the deferral of such compensation, (y) a “change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets” of the Company, or (z) the occurrence of an
“unforeseeable emergency”; 
 (B) The time or schedule for any payment of the deferred compensation may not be
accelerated, except to the extent provided in applicable Treasury Regulations or other applicable guidance issued by the Internal Revenue Service; 
 (C) Any elections with respect to the deferral of such compensation or the time and form of distribution of such deferred compensation shall comply with the requirements of Section 409A(a)(4) of the
Code; and 
 (D) In the case of any Participant who is “specified employee”, a distribution on account of a
“separation from service” may not be made before the date which is six months after the date of the Participant’s “separation from service” (or, if earlier, the date of the Participant’s death). 

For purposes of the foregoing, the terms in quotations shall have the same meanings as those terms have for purposes of Section 409A of the Code,
and the limitations set forth herein shall be applied in such manner (and only to the extent) as shall be necessary to comply with any requirements of Section 409A of the Code that are applicable to the Award. 

(iii) Notwithstanding the foregoing, or any provision of this Plan or any Award Agreement, the Company does not make any representation
to any Participant or Beneficiary that any Awards made pursuant to this Plan are exempt from, or satisfy, the 

  
 17 

 
requirements of, Section 409A, and the Company shall have no liability or other obligation to indemnify or hold harmless the Participant or any Beneficiary for any tax, additional tax,
interest or penalties that the Participant or any Beneficiary may incur in the event that any provision of this Plan, or any Award Agreement, or any amendment or modification thereof, or any other action taken with respect thereto, is deemed to
violate any of the requirements of Section 409A. 
 8. Code Section 162(m) Provisions. 

(a) Covered Employees. Unless otherwise specified by the Committee, the provisions of this Section 8 shall be
applicable to any Performance Award granted to an Eligible Person who is, or is likely to be, as of the end of the tax year in which the Company would claim a tax deduction in connection with such Award, a Covered Employee. 

(b) Performance Criteria. If a Performance Award is subject to this Section 8, then the payment or distribution
thereof or the lapsing of restrictions thereon and the distribution of cash, Shares or other property pursuant thereto, as applicable, shall be contingent upon achievement of one or more objective performance goals. Performance goals shall be
objective and shall otherwise meet the requirements of Section 162(m) of the Code and regulations thereunder including the requirement that the level or levels of performance targeted by the Committee result in the achievement of performance
goals being “substantially uncertain.” One or more of the following business criteria for the Company, on a consolidated basis, and/or for Related Entities, or for business or geographical units of the Company and/or a Related Entity
(except with respect to the total stockholder return and earnings per share criteria), shall be used by the Committee in establishing performance goals for such Awards: (1) earnings per share; (2) revenues or margins; (3) cash flow;
(4) operating margin; (5) return on net assets, investment, capital, or equity; (6) economic value added; (7) direct contribution; (8) net income; pretax earnings; earnings before interest and taxes; earnings before
interest, taxes, depreciation and amortization; earnings after interest expense and before extraordinary or special items; operating income or income from operations; income before interest income or expense, unusual items and income taxes, local,
state or federal and excluding budgeted and actual bonuses which might be paid under any ongoing bonus plans of the Company; (9) working capital; (10) management of fixed costs or variable costs; (11) identification or consummation of
investment opportunities or completion of specified projects in accordance with corporate business plans, including strategic mergers, acquisitions or divestitures; (12) total stockholder return; (13) debt reduction; (14) market
share; (15) entry into new markets, either geographically or by business unit; (16) customer retention and satisfaction; (17) strategic plan development and implementation, including turnaround plans; and/or (18) the Fair Market
Value of a Share. Any of the above goals may be determined on an absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to, the Standard &
Poor’s 500 Stock Index or a group of companies that are comparable to the Company. In determining the achievement of the performance goals, unless otherwise specified by the Committee at the time the performance goals are set, the Committee
shall exclude the impact of any (i) restructurings, discontinued operations, extraordinary items (as defined pursuant to generally accepted accounting principles), and other unusual or non-recurring charges, (ii) event either not directly
related to the operations of the Company or not within the reasonable control of the Company’s management, (iii) change in accounting standards required by generally accepted accounting principles; or (iv) such other exclusions or
adjustments as the Committee specifies at the time the Award is granted. 

  
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 (c) Performance Period; Timing For Establishing Performance Goals.
Achievement of performance goals in respect of Performance Awards shall be measured over a Performance Period specified by the Committee. Performance goals shall be established not later than 90 days after the beginning of any Performance Period
applicable to such Performance Awards, or at such other date as may be required or permitted for “performance-based compensation” under Section 162(m) of the Code. 

(d) Adjustments. The Committee may, in its discretion, reduce the amount of a settlement otherwise to be made in connection
with Awards subject to this Section 8, but may not exercise discretion to increase any such amount payable to a Covered Employee in respect of an Award subject to this Section 8. The Committee shall specify the circumstances in which such
Awards shall be paid or forfeited in the event of termination of Continuous Service by the Participant prior to the end of a Performance Period or settlement of Awards. 
 (e) Committee Certification. No Participant shall receive any payment under the Plan that is subject to this Section 8 unless the Committee has certified, by resolution or other
appropriate action in writing, that the performance criteria and any other material terms previously established by the Committee or set forth in the Plan, have been satisfied to the extent necessary to qualify as “performance based
compensation” under Section 162(m) of the Code. 
 9. Change in Control. 

(a) Effect of “Change in Control.” If and only to the extent provided in any employment or other agreement
between the Participant and the Company or any Related Entity, or in any Award Agreement, or to the extent otherwise determined by the Committee, as constituted immediately before the Change in Control, in its sole discretion and without any
requirement that each Participant be treated consistently, upon the occurrence of a “Change in Control,” as defined in Section 9(b): 
 (i) Any Option or Stock Appreciation Right that was not previously vested and exercisable as of the time of the Change in Control, shall become immediately vested and exercisable, subject to applicable
restrictions set forth in Section 10(a) hereof. 
 (ii) Any restrictions, deferral of settlement, and forfeiture
conditions applicable to a Restricted Stock Award, Restricted Stock Unit Award or an Other Stock-Based Award subject only to future service requirements granted under the Plan shall lapse and such Awards shall be deemed fully vested as of the time
of the Change in Control, except to the extent of any waiver by the Participant and subject to applicable restrictions set forth in Section 10(a) hereof. 
 (iii) With respect to any outstanding Award subject to achievement of performance goals and conditions under the Plan, the Committee may, in its discretion, deem such performance goals and conditions as
having been met as of the date of the Change in Control. 

  
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 (iv) Notwithstanding the foregoing, in the event of a termination of the
Participant’s Continuous Service with the Company (if it is the surviving entity in the Change in Control) or the successor company (other than a termination of the Participant’s Continuous Service for Cause by the Company or the successor
company, as applicable, by the Participant without Good Reason, or by reason of the Participant’s death or Disability) within 24 months following such Change in Control, the Participant’s Award(s) shall become immediately vested.

 (b) Definition of “Change in Control”. Unless otherwise specified in any employment agreement between
the Participant and the Company or any Related Entity, or in an Award Agreement, a “Change in Control” shall mean the occurrence of any of the following: 
 (i) The acquisition by any Person of Beneficial Ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of either (A) the value of then
outstanding equity securities of the Company (the “Outstanding Company Stock”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the
“Outstanding Company Voting Securities) (the foregoing Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); provided, however, that for purposes of this Section 9(b), the following acquisitions shall
not constitute or result in a Change in Control: (v) any acquisition directly from the Company; (w) any acquisition by the Company; (x) any acquisition by any Person that as of the Effective Date owns Beneficial Ownership of a
Controlling Interest; (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Related Entity; or (z) any acquisition by any entity pursuant to a transaction which complies with
clauses (A), (B) and (C) of subsection (iii) below; or 
 (ii) During any period of two (2) consecutive
years (not including any period prior to the Effective Date) individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that
any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board
shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect
to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (iii) Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its Subsidiaries, a sale or other disposition of all or
substantially all of the assets of the Company, or the acquisition of assets or equity of another entity by the Company or any of its Subsidiaries (each a “Business Combination”), in each case, unless, following such Business Combination,
(A) all or substantially all of the individuals and entities who were the Beneficial Owners, respectively, of the Outstanding Company Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than fifty percent (50%) of the value of the then outstanding equity securities and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of

  
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members of the board of directors (or comparable governing body of an entity that does not have such a board), as the case may be, of the entity resulting from such Business Combination
(including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as
their ownership, immediately prior to such Business Combination of the Outstanding Company Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any employee benefit plan (or related trust) of the Company
or such entity resulting from such Business Combination or any Person that as of the Effective Date owns Beneficial Ownership of a Controlling Interest) beneficially owns, directly or indirectly, fifty percent (50%) or more of the value of the
then outstanding equity securities of the entity resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such entity except to the extent that such ownership existed prior to the Business
Combination and (C) at least a majority of the members of the Board of Directors or other governing body of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial
agreement, or of the action of the Board, providing for such Business Combination; or 
 (iv) Approval by the stockholders of
the Company of a complete liquidation or dissolution of the Company. 
 10. General Provisions. 

(a) Compliance With Legal and Other Requirements. The Company may, to the extent deemed necessary or advisable by the
Committee, postpone the issuance or delivery of Shares or payment of other benefits under any Award until completion of such registration or qualification of such Shares or other required action under any federal or state law, rule or regulation,
listing or other required action with respect to the Listing Market, or compliance with any other obligation of the Company, as the Committee, may consider appropriate, and may require any Participant to make such representations, furnish such
information and comply with or be subject to such other conditions as it may consider appropriate in connection with the issuance or delivery of Shares or payment of other benefits in compliance with applicable laws, rules, and regulations, listing
requirements, or other obligations. 
 (b) Limits on Transferability; Beneficiaries. No Award or other right or
interest granted under the Plan shall be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of such Participant to any party, or assigned or transferred by such Participant otherwise than by will or the
laws of descent and distribution or to a Beneficiary upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his or her guardian or legal
representative, except that Awards and other rights (other than Incentive Stock Options and Stock Appreciation Rights in tandem therewith) may be transferred to one or more Beneficiaries or other transferees during the lifetime of the Participant,
and may be exercised by such transferees in accordance with the terms of such Award, but only if and to the extent such transfers are permitted by the Committee pursuant to the express terms of an Award Agreement (subject to any terms and conditions
which the Committee may impose thereon). A Beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to
such Participant, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by the Committee. 

  
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 (c) Adjustments. 

(i) Adjustments to Awards. In the event that any extraordinary dividend or other distribution (whether in the form of
cash, Shares, or other property), recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, liquidation, dissolution or other similar corporate transaction or event affects
the Shares and/or such other securities of the Company or any other issuer such that a substitution, exchange, or adjustment is determined by the Committee to be appropriate, then the Committee shall, in such manner as it may deem equitable,
substitute, exchange or adjust any or all of (A) the number and kind of Shares which may be delivered in connection with Awards granted thereafter, (B) the number and kind of Shares by which annual per-person Award limitations are measured
under Section 4 hereof, (C) the number and kind of Shares subject to or deliverable in respect of outstanding Awards, (D) the exercise price, grant price or purchase price relating to any Award and/or make provision for payment of
cash or other property in respect of any outstanding Award, and (E) any other aspect of any Award that the Committee determines to be appropriate. 
 (ii) Adjustments in Case of Certain Transactions. In the event of any merger, consolidation or other reorganization in which the Company does not survive, or in the event of any Change in
Control, any outstanding Awards may be dealt with in accordance with any of the following approaches, without the requirement of obtaining any consent or agreement of a Participant as such, as determined by the agreement effectuating the transaction
or, if and to the extent not so determined, as determined by the Committee: (a) the continuation of the outstanding Awards by the Company, if the Company is a surviving entity, (b) the assumption or substitution for, as those terms are
defined below, the outstanding Awards by the surviving entity or its parent or subsidiary, (c) full exercisability or vesting and accelerated expiration of the outstanding Awards, or (d) settlement of the value of the outstanding Awards in
cash or cash equivalents or other property followed by cancellation of such Awards (which value, in the case of Options or Stock Appreciation Rights, shall be measured by the amount, if any, by which the Fair Market Value of a Share exceeds the
exercise or grant price of the Option or Stock Appreciation Right as of the effective date of the transaction). For the purposes of this Agreement, an Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award or Other
Stock-Based Award shall be considered assumed or substituted for if following the Change in Control the Award confers the right to purchase or receive, for each Share subject to the Option, Stock Appreciation Right, Restricted Stock Award,
Restricted Stock Unit Award or Other Stock-Based Award immediately prior to the Change in Control, on substantially the same vesting and other terms and conditions as were applicable to the Award immediately prior to the Change in Control, the
consideration (whether stock, cash or other securities or property) received in the transaction constituting a Change in Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares); provided, however, that if such consideration received in the transaction constituting a Change in Control is not solely common stock of the
successor company or its parent or subsidiary, the Committee may, with the consent of the successor company or its parent or 

  
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subsidiary, provide that the consideration to be received upon the exercise or vesting of an Option, Stock Appreciation Right, Restricted Stock Award, Restricted Stock Unit Award or Other
Stock-Based Award, for each Share subject thereto, will be solely common stock of the successor company or its parent or subsidiary substantially equal in fair market value to the per share consideration received by holders of Shares in the
transaction constituting a Change in Control. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding. The Committee shall
give written notice of any proposed transaction referred to in this Section 10(c)(ii) at a reasonable period of time prior to the closing date for such transaction (which notice may be given either before or after the approval of such
transaction), in order that Participants may have a reasonable period of time prior to the closing date of such transaction within which to exercise any Awards that are then exercisable (including any Awards that may become exercisable upon the
closing date of such transaction). A Participant may condition his exercise of any Awards upon the consummation of the transaction. 
 (iii) Other Adjustments. The Committee (and the Board if and only to the extent such authority is not required to be exercised by the Committee to comply with Section 162(m) of the
Code) is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards (including Performance Awards, or performance goals and conditions relating thereto) in recognition of unusual or nonrecurring events
(including, without limitation, acquisitions and dispositions of businesses and assets) affecting the Company, any Related Entity or any business unit, or the financial statements of the Company or any Related Entity, or in response to changes in
applicable laws, regulations, accounting principles, tax rates and regulations or business conditions or in view of the Committee’s assessment of the business strategy of the Company, any Related Entity or business unit thereof, performance of
comparable organizations, economic and business conditions, personal performance of a Participant, and any other circumstances deemed relevant; provided that no such adjustment shall be authorized or made if and to the extent that such authority or
the making of such adjustment would cause Options, Stock Appreciation Rights, Performance Awards granted pursuant to Section 8(b) hereof to Participants designated by the Committee as Covered Employees and intended to qualify as
“performance-based compensation” under Code Section 162(m) and the regulations thereunder to otherwise fail to qualify as “performance-based compensation” under Code Section 162(m) and regulations thereunder.
Adjustments permitted hereby may include, without limitation, increasing the exercise price of Options and Stock Appreciation Rights, increasing performance goals, or other adjustments that may be adverse to the Participant. Notwithstanding the
foregoing, no adjustments may be made with respect to any Performance Awards subject to Section 8 if and to the extent that such adjustment would cause the Award to fail to qualify as “performance-based compensation” under
Section 162(m) of the Code. 
 (d) Taxes. The Company and any Related Entity are authorized to withhold from
any Award granted, any payment relating to an Award under the Plan, including from a distribution of Shares, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in connection with any
transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company or any Related Entity and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations
relating to any Award. This authority shall include authority to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations, either on a mandatory or elective
basis in the discretion of the Committee. 

  
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 (e) Changes to the Plan and Awards. The Board may amend, alter, suspend,
discontinue or terminate the Plan, or the Committee’s authority to grant Awards under the Plan, without the consent of stockholders or Participants (including in a manner adverse to the rights of a Participant under an outstanding Award),
except that any amendment or alteration to the Plan shall be subject to the approval of the Company’s stockholders not later than the annual meeting next following such Board action if such stockholder approval is required by any federal or
state law or regulation (including, without limitation, Rule 16b-3 or Code Section 162(m)) or the rules of the Listing Market, and the Board may otherwise, in its discretion, determine to submit other such changes to the Plan to stockholders
for approval. The Committee may waive any conditions or rights under, or amend, alter, suspend, discontinue or terminate any Award theretofore granted and any Award Agreement relating thereto. Notwithstanding anything to the contrary, the Committee
shall be authorized to amend any outstanding Option and/or Stock Appreciation Right to reduce the exercise price or grant price without the prior approval of the stockholders of the Company. In addition, the Committee shall be authorized to cancel
outstanding Options and/or Stock Appreciation Rights replaced with Awards having a lower exercise price without the prior approval of the stockholders of the Company. 
 (f) Limitation on Rights Conferred Under Plan. Neither the Plan nor any action taken hereunder or under any Award shall be construed as (i) giving any Eligible Person or Participant the
right to continue as an Eligible Person or Participant or in the employ or service of the Company or a Related Entity; (ii) interfering in any way with the right of the Company or a Related Entity to terminate any Eligible Person’s or
Participant’s Continuous Service at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under the Plan or to be treated uniformly with other Participants and Employees, or (iv) conferring on a
Participant any of the rights of a stockholder of the Company including, without limitation, any right to receive dividends or distributions, any right to vote or act by written consent, any right to attend meetings of stockholders or any right to
receive any information concerning the Company’s business, financial condition, results of operation or prospects, unless and until such time as the Participant is duly issued Shares on the stock books of the Company in accordance with the
terms of an Award. None of the Company, its officers or its directors shall have any fiduciary obligation to the Participant with respect to any Awards unless and until the Participant is duly issued Shares pursuant to the Award on the stock books
of the Company in accordance with the terms of an Award. Neither the Company nor any of the Company’s officers, directors, representatives or agents is granting any rights under the Plan to the Participant whatsoever, oral or written, express
or implied, other than those rights expressly set forth in this Plan or the Award Agreement. 
 (g) Unfunded Status of
Awards; Creation of Trusts. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Participant or obligation to deliver Shares pursuant to an
Award, nothing contained in the Plan or any Award Agreement shall give any such Participant any rights that are greater than those of a general creditor of the Company; provided that the Committee may authorize the creation of trusts and deposit
therein cash, Shares, other Awards or other property, or make other arrangements to meet the Company’s obligations under the Plan. Such 

  
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trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with the consent of each affected Participant. The
trustee of such trusts may be authorized to dispose of trust assets and reinvest the proceeds in alternative investments, subject to such terms and conditions as the Committee may specify and in accordance with applicable law. 

(h) Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor its submission to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable including incentive arrangements and awards which do not qualify
under Section 162(m) of the Code. 
 (i) Payments in the Event of Forfeitures; Fractional Shares. Unless
otherwise determined by the Committee, in the event of a forfeiture of an Award with respect to which a Participant paid cash or other consideration, the Participant shall be repaid the amount of such cash or other consideration. No fractional
Shares shall be issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any
rights thereto shall be forfeited or otherwise eliminated. 
 (j) Governing Law. The validity, construction and
effect of the Plan, any rules and regulations under the Plan, and any Award Agreement shall be determined in accordance with the laws of the State of Delaware without giving effect to principles of conflict of laws, and applicable federal law.

 (k) Non-U.S. Laws. The Committee shall have the authority to adopt such modifications, procedures, and subplans
as may be necessary or desirable to comply with provisions of the laws of foreign countries in which the Company or its Related Entities may operate to assure the viability of the benefits from Awards granted to Participants performing services in
such countries and to meet the objectives of the Plan. 
 (l) Plan Effective Date and Stockholder Approval; Termination of
Plan. The Plan shall become effective on the Effective Date, subject to subsequent approval, within 12 months of its adoption by the Board, by stockholders of the Company eligible to vote in the election of directors, by a vote sufficient to
meet the requirements of Code Sections 162(m) (if applicable) and 422, Rule 16b-3 under the Exchange Act (if applicable), applicable requirements under the rules of any stock exchange or automated quotation system on which the Shares may be listed
or quoted, and other laws, regulations, and obligations of the Company applicable to the Plan. Awards may be granted subject to stockholder approval, but may not be exercised or otherwise settled in the event the stockholder approval is not
obtained. The Plan shall terminate at the earliest of (a) such time as no Shares remain available for issuance under the Plan, (b) termination of this Plan by the Board, or (c) the tenth anniversary of the Effective Date. Awards
outstanding upon expiration of the Plan shall remain in effect until they have been exercised or terminated, or have expired. 

  
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