Document:

Exhibit 10.16

   

  DESRI INC.

   2022 EMPLOYEE STOCK PURCHASE PLAN

    

  

   

  Section 1.               Purpose of Plan.

   

  The name of the plan is the DESRI Inc. 2022 Employee Stock Purchase Plan. The purpose of the Plan is to provide employees of the Company and its
    Designated Subsidiaries with an opportunity to purchase Common Stock of the Company through accumulated after-tax payroll deductions. It is the intention of the Company to have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of
    the US Internal Revenue Code of 1986, as amended (“Code Section 423”). The provisions of the Plan, accordingly, shall be construed so as to extend and limit participation in a manner consistent with the requirements of that section of the Code.
    However, the Company may grant options pursuant to one or more offerings under the Plan that are not intended to meet the requirements of Code Section 423, provided that except as expressly set forth herein, any such offering shall be operated and
    administered in the same manner as an offering that is intended to meet the requirements of Code Section 423.

   

  Section 2.               Definitions. 

   

  For purposes of the Plan, the following terms shall be defined as set forth below:

   

  (a)            “Board”
    means the Board of Directors of the Company.

   

  (b)            “Code”
    means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto.

   

  (c)            “Common Stock”
    means the common stock, $0.01 par value per share, of the Company.

   

  (d)            “Company”
    means DESRI Inc., a Delaware corporation (or any successor company).

   

  (e)            “Compensation”
    means the base salary and annual bonus payable to an Employee by the Company or one or more Designated Subsidiaries during such individual’s period of participation in one or more offerings under the Plan, plus any pre-tax contributions made by the
    Employee to any cash-or-deferred arrangement that meets the requirements of Section 401(k) of the Code or any cafeteria benefit program that meets the requirements of Section 125 of the Code, now or hereafter established by the Company or any
    Designated Subsidiary. The Plan Administrator may make modifications to the definition of Compensation for one or more offerings as deemed appropriate.

   

  (f)             “Designated
        Subsidiaries” means all Subsidiaries of the Company (whether now existent or hereafter organized or acquired by the Company or a Subsidiary).

   

  (g)            “Effective
        Date” has the meaning set forth in Section 26 hereof.

  
     

    
      
 

  

  
   

  (h)            “Employee”
    means any individual who is a regular employee of the Company or a Designated Subsidiary; provided that, for any specific Offering Period, the Plan Administrator may exclude those individuals who (i) have not been regular employees of the
    Company or a Designated Subsidiary for, at least, thirty (30) days prior to the Offering Period, (ii) are customarily employed twenty (20) hours or less per week, and (iii) are customarily employed not more than five (5) months in any calendar year; provided
    further, that, any such exclusion must be applied in a uniform manner to all employees of the Company and the Designated Subsidiaries for such Offering Period. For purposes of the Plan, the employment relationship shall be treated as continuing
    intact while the individual is on sick leave or other leave of absence approved by the Company. Unless otherwise determined by the Plan Administrator and set forth in the applicable offering, where the period of leave exceeds three (3) months and the
    individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated on the 1st day following the expiration of such three (3) month period. For the avoidance of doubt, the
    term “Employee” shall not include any consultant, independent contractor or non-employee director of the Company or a Designated Subsidiary. Notwithstanding the foregoing, for purposes of any offering under the Plan that is not intended to meet the
    requirements of Code Section 423, the Plan Administrator may make modifications to the definition of Employee as deemed appropriate.

   

  (i)             “Enrollment
        Date” means the first day of each Offering Period.

   

  (j)             “Exercise
        Date” means the last Trading Day in each Offering Period.

   

  (k)            “Fair Market
        Value” of the Common Stock or another security as of a particular date means the fair market value as determined by the Plan Administrator in its sole discretion; provided, however, that except as otherwise determined by
    the Plan Administrator, (i) if the Common Stock or other security is admitted to trading on a national securities exchange, the fair market value on any date shall be the
    closing sale price reported on the date of grant, or if no shares were traded on such date, on the last preceding date for which there was a sale of a share of Common Stock or other security on such exchange, or (ii) if the Common Stock or other
    security is then traded in an over-the-counter market, the fair market value on any date shall be the average of the closing bid and asked prices for such share of Common Stock or other security in such over-the-counter market for the last preceding
    date on which there was a sale of such share of Common Stock or other security in such market.

   

  (l)             “Offering
        Period” means a period with respect to which the right to purchase Common Stock may be granted under the Plan, as set forth in Section 5 hereof.

   

  (m)           “Plan”
    means this DESRI Inc. 2022 Employee Stock Purchase Plan, as may be amended and/or restated from time to time.

   

  (n)            “Plan
        Administrator” means the Board or a committee of the Board appointed by the Board to administer the Plan in accordance with Section 14 hereof.

   

  (o)            “Purchase
        Price” means the amount established by the Plan Administrator in its sole discretion in advance of the applicable offering under the Plan; provided that such amount shall not be less than the lesser of either (i) an amount equal
    to 85% of the Fair Market Value of a share of Common Stock on the Enrollment Date or (ii) an amount equal to 85% of the Fair Market Value of a share of Common Stock on the Exercise Date.

  
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  (p)            “Reserves”
    means the number of shares of Common Stock covered by the options under the Plan which have not yet been exercised and the number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under option.

   

  (q)            “Subsidiary”
    means a corporation, domestic or foreign (including any limited liability company (or other eligible entity) that has elected to be taxed for U.S. federal income tax purposes as a corporation, or any disregarded entity with respect to a corporation),
    of which not less than 50% of the total combined voting power of all classes of stock are held by the Company or a Subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary.
    Notwithstanding the foregoing, for purposes of any offering under the Plan that is not intended to meet the requirements of Code Section 423, “Subsidiary” may include a corporation or any other entity of which not less than 50% of the total combined
    voting power of all classes of stock are held by the Company or a Subsidiary.

   

  (r)             “Trading Day”
    means a day on which the Nasdaq is open for trading.

   

  Section 3. Eligibility. 

   

  (a)            Options may be granted only to Employees. Unless
    otherwise determined by the Plan Administrator for an offering (in a manner that satisfies the requirements of Code Section 423, if applicable), any Employee employed on the Enrollment Date for an Offering Period shall be eligible to participate in the
    Plan for such Offering Period.

   

  (b)            Any provisions of the Plan to the contrary
    notwithstanding, no Employee shall be granted an option under the Plan (i) if, immediately after the grant, such Employee (and any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own stock
    and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary of the Company, or (ii) which permits such Employee’s rights
    to purchase stock under all employee stock purchase plans (within the meaning of Section 423 of the Code) of the Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five Thousand Dollars ($25,000) worth of stock (determined at the
    Fair Market Value of the shares at the time such option is granted) for each calendar year in which such option is outstanding at any time.

   

  Section 4.               Offerings.

   

  The Plan shall be implemented through one or more offerings. Offerings may be consecutive or overlapping. Each offering shall be in such form and
    shall contain such terms and conditions as the Plan Administrator shall deem appropriate. The terms of separate offerings need not be identical; provided, however, that each offering shall comply with the provisions of the Plan and the
    participants in each offering shall have equal rights and privileges under that offering in accordance with the requirements of Section 423(b)(5) of the Code and the applicable regulations thereunder.

  
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  Section 5.               Offering Periods.

   

  Offerings shall be implemented by Offering Periods in the discretion of the Plan Administrator. Each Offering Period shall commence at such time
    and be of such duration not to exceed twenty seven (27) months, as determined by the Plan Administrator prior to the start of the applicable Offering Period. The initial Offering Period shall commence on the date established by the Plan Administrator
    and shall be of such duration (not to exceed twenty seven (27) months) as determined by the Plan Administrator. The decision of the Plan Administrator to implement an Offering Period shall not require the Plan Administrator to implement any additional
    consecutive or overlapping Offering Period.

   

  Section 6.               Participation.

   

  An eligible Employee determined in accordance with Section 3 hereof may elect to become a participant by accessing the website designated by the
    Company and electronically enrolling in an Offering Period or by submitting an enrollment agreement (in such form as the Company may provide, including by electronic means) authorizing payroll deductions at least ten (10) days prior to the applicable
    Enrollment Date, unless an earlier or later time for enrolling is set by the Plan Administrator for all eligible Employees with respect to a given offering or Offering Period.

   

  Section 7.               Payroll Deductions. 

   

  (a)            At the time a participant enrolls in an Offering
    Period, such participant shall elect to have after-tax payroll deductions made during the Offering Period pursuant to such procedures as the Plan Administrator may specify from time to time and in an amount between one percent (1%) and thirty percent
    (30%) of the Compensation which such participant receives during the Offering Period.

   

  (b)            Payroll deductions shall commence on the first
    payroll period following the Enrollment Date and shall end on the last payroll period in the Offering Period, unless sooner altered or terminated as provided in the Plan.

   

  (c)            All payroll deductions made for a participant
    shall be credited to the participant’s account under the Plan and will be withheld in whole percentages only. A participant may not make any additional payments into such account unless specifically provided for in the offering.

   

  (d)            A participant may discontinue such participant’s
    participation in the Plan as provided in Section 11 hereof, or may decrease the rate of such participant’s payroll deductions during the current Offering Period by amending such participant’s enrollment agreement or by submitting a new enrollment
    agreement (in such form as the Company may provide, including by electronic means) authorizing a decrease in payroll deduction rate. The decrease in rate shall be effective with the first full payroll period following ten (10) business days after the
    Company’s receipt of the amended enrollment or earlier to the extent administratively practicable. A participant may increase the rate of such participant’s payroll deductions for an upcoming Offering Period by amending such participant’s enrollment
    agreement or by submitting a new enrollment agreement (in such form as the Company may provide, including by electronic means) authorizing an increase in payroll deduction rate within ten (10) business days prior to commencement of the upcoming
    Offering Period. A participant’s enrollment agreement shall remain in effect for successive Offering Periods unless terminated as provided in Section 11 hereof. The Plan Administrator shall be authorized to limit the number of participation rate
    changes during any Offering Period, which, unless otherwise determined by the Plan Administrator, shall be one (1) time during the applicable Offering Period.

  
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  (e)            Notwithstanding the foregoing, to the extent
    necessary to comply with the limitations of Section 423(b)(8) of the Code and Section 3(b)(ii) hereof, a participant’s payroll deductions may be decreased to 0% during any Offering Period if such participant would, as a result of such limitations, be
    precluded from buying any additional Common Stock on the Exercise Date for that Offering Period. The suspension of such deductions shall not terminate the participant’s participation in the Plan. Payroll deductions shall recommence at the rate provided
    in such participant’s enrollment agreement at the beginning of the first Offering Period for which the participant is able to purchase shares in compliance with the limitations of Section 423(b)(8) of the Code and Section 3(b)(ii) hereof, unless
    terminated by the participant as provided in Section 11 hereof.

   

  Section 8.               Grant of Option.

   

  On the Enrollment Date of each Offering Period, each eligible Employee participating in such Offering Period shall be granted an option to
    purchase on the Exercise Date for such Offering Period (at the applicable Purchase Price) up to the lesser of (i) a number of shares of the Company’s Common Stock determined by dividing such Employee’s payroll deductions (and contributions) accumulated
    prior to such Exercise Date and retained in the participant’s account as of the Exercise Date by the applicable Purchase Price and (ii) 10,000 shares of Common Stock; provided that such purchase shall be subject to the limitations set forth in
    Sections 3(b) and 13 hereof. However, the maximum number of shares of Common Stock purchasable per participant on any Exercise Date shall not exceed twenty-five thousand U.S. dollars ($25,000) worth of shares (calculated based on the closing price of
    shares of Common Stock on the first day of the applicable Offering Period), subject to periodic adjustments in the event of certain changes in the Company’s capitalization as provided in Section 19 hereof. Exercise of the option shall occur as provided
    in Section 9 hereof, unless the participant has withdrawn pursuant to Section 11 hereof.

   

  Section 9.               Exercise of Option. 

   

  (a)            Unless a participant withdraws from the Plan as
    provided in Section 11 hereof, such participant’s option for the purchase of shares will be exercised automatically on each Exercise Date, and the maximum number of full shares subject to option shall be purchased for such participant at the applicable
    Purchase Price with the accumulated payroll deductions (and contributions) in such participant’s account. No fractional shares will be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full
    share shall be retained in the participant’s account for the subsequent Offering Period, subject to earlier withdrawal by the participant as provided in Section 11 hereof. Any other monies left over in a participant’s account after the Exercise Date
    shall be returned to the participant as soon as administratively practicable following the Exercise Date. During a participant’s lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her.

  
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  (b)            At the time the option is exercised, in whole or
    in part, or at the time some or all of the Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s federal, state, local, foreign or other tax withholding obligations, if any, which arise upon
    the exercise of the option or the disposition of the Common Stock. At any time, the Company may, but will not be obligated to, withhold from the participant’s compensation the amount necessary for the Company to meet applicable withholding obligations,
    including any withholding required to make available to the Company any tax deductions or benefit attributable to sale or early disposition of Common Stock by the participant. The Plan Administrator may require the participant to notify the Company
    before the participant sells or otherwise disposes of any shares acquired under the Plan.

   

  Section 10.            Delivery to Broker Account.

   

  (a)            As promptly as practicable after each Exercise
    Date on which a purchase of shares occurs, the Company shall deliver the shares purchased by the participant to a brokerage account established for the participant at a Company-designated brokerage firm or other third-party administrator. The account
    will be known as the “ESPP Broker Account”. The Company may require that, except as otherwise provided below, the deposited shares may not be transferred (either electronically or in certificate form) from the ESPP Broker Account until the later
    of the following two periods: (i) the end of the two (2) year period measured from the Enrollment Date for the Offering Period in which the shares were purchased and (ii) the end of the one (1) year period measured from the Exercise Date for that
    Offering Period.

   

  (b)            Such limitation shall apply both to transfers to
    different accounts with the same broker and to transfers to other brokerage firms. Any shares held for the required holding period may be transferred (either electronically or in certificate form) to other accounts or to other brokerage firms.

   

  (c)            The foregoing procedures shall apply to all shares
    purchased by the participant under the Plan, whether or not the participant continues in Employee status.

   

  Section 11.            Withdrawal; Termination of Employment. 

   

  (a)            A participant may withdraw all but not less than
    all the payroll deductions, if any, credited to such participant’s account and not yet used to exercise such participant’s option under the Plan at any time by accessing the website designated by the Company and electronically withdrawing from the
    Offering Period or by giving written notice to the Company (in such form as the Company may provide). All of the participant’s payroll deductions credited to such participant’s account will be paid to such participant (without interest) as soon as
    practicable after receipt of notice of withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offering Period. If a
    participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period unless the participant timely enrolls in that Offering Period.

   

  (b)            Upon a participant’s ceasing to be an Employee for
    any reason or upon termination of a participant’s employment relationship (as described in Section 2(h) hereof), the payroll deductions and other contributions, if any, credited to such participant’s account during the Offering Period but not yet used
    to exercise the option will be returned (without interest) to such participant or, in the case of such participant’s death, to the person or persons entitled thereto under Section 15 hereof, and such participant’s option will be automatically
    terminated. A participant whose employment is deemed to have terminated under Section 2(h) hereof may participate in any future Offering Period in which such individual is eligible to participate by timely enrollment in that Offering Period.

  
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  Section 12.            Interest.

   

  No interest shall accrue on the payroll deductions credited to a participant’s account under the Plan unless otherwise required by applicable law.

   

  Section 13.            Stock Reserve. 

   

  (a)            The maximum number
      of shares of Common Stock which shall be made available for sale under the Plan shall be equal to ________ shares of Common Stock (subject to adjustment as provided in Section 19 hereof), as increased on the first day of each fiscal year of the Company beginning in calendar year 2023 by a number of shares of Common Stock equal to the excess, if any, of (x) ________ shares

      of Common Stock (subject to adjustment as provided in Section 19 hereof), over (y) the number of shares of Common Stock reserved and available for future sale under the Plan as of the last day of the immediately preceding fiscal year. If on a given Exercise Date the number of shares with respect to which options are to be exercised exceeds the number of shares then available under the Plan, the Company shall make a pro rata allocation of the shares
    remaining available for purchase in as uniform a manner as shall be practicable and as it shall determine to be equitable.

   

  (b)            The participant will have no interest or voting
    right in shares covered by such participant’s option until such option has been exercised and the participant has become a holder of record of the purchased shares of Common Stock.

   

  Section 14.            Administration. 

   

  (a)            The Plan shall be administered by the Plan
    Administrator. The Plan Administrator shall have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding,
    decision and determination made by the Board or its committee shall, to the full extent permitted by law, be final and binding upon all parties. Members of the Board who are eligible Employees are permitted to participate in the Plan, provided that:

   

  (i)           Members of the Board who are eligible to
    participate in the Plan may not vote on any matter affecting the administration of the Plan or the grant of any option pursuant to the Plan.

   

  (ii)          If a committee is established to
    administer the Plan, no member of the Board who is eligible to participate in the Plan may be a member of the committee.

  
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  (b)           In addition, subject to the provisions of the Plan
    and, in the case of a committee, the specific duties delegated by the Board to such committee, the Board shall have the authority, in its sole discretion to approve addenda to the Plan and any enrollment agreement pursuant to this Section 14(b) to
    accommodate participation of Employees employed by a non-U.S. Subsidiary with such terms and conditions as the Board deems necessary or appropriate to accommodate differences in local law, tax policy or custom which deviate from the terms and
    conditions set forth in the Plan to the extent necessary or appropriate to accommodate such differences. The Board may approve such addenda to the Plan and any enrollment agreement as it may consider necessary or appropriate to accommodate differences
    in local law, tax policy or custom, which, if so required under applicable laws, may deviate from the terms and conditions set forth in the Plan. The terms of any such addenda shall supersede the terms of the Plan and any enrollment agreement to the
    extent necessary to accommodate such differences but shall not otherwise affect the terms of the Plan as in effect for any other purpose.

   

  (c)            For purposes of any offering under the Plan that
    is not intended to meet the requirements of Code Section 423, the Board shall have the authority, in its sole discretion to approve addenda to the Plan and any enrollment agreement pursuant to this Section 14(c) with such terms and conditions as the
    Board deems necessary or appropriate to accommodate the terms of such offering, provided that except as expressly set forth herein, any such offering shall be operated and administered in the same manner as an offering that is intended to meet the
    requirements of Code Section 423.

   

  Section 15.            Designation of Beneficiary. 

   

  (a)            A participant may file a written designation of a
    beneficiary who is to receive any shares and cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such participant
    of such shares and cash. In addition, a participant may file a written designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to exercise of the option. If a
    participant is married and the designated beneficiary is not the spouse, spousal consent shall be required for such designation to be effective.

   

  (b)           Such designation of beneficiary may be changed by
    the participant (and such participant’s spouse, if any) at any time by written notice. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s
    death, the Company shall deliver such shares and/or cash to the executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion,
    may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.

   

  Section 16.            Transferability.

   

  Neither payroll deductions credited to a participant’s account nor any rights with regard to the exercise of an option or to receive shares under
    the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15 hereof by the participant). Any such attempt at assignment, transfer, pledge or
    other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 11 hereof.

  
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  Section 17.            Use of Funds.

   

  All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate purpose, and the Company shall
    not be obligated to segregate such monies unless otherwise required by applicable law.

   

  Section 18.            Reports.

   

  Individual book accounts will be maintained for each participant in the Plan. Statements of account will be given to participating Employees at
    least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares purchased and the remaining cash balance, if any.

   

  Section 19.            Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 

   

  (a)            Subject to any required action by the stockholders
    of the Company, the Reserves as well as the number of shares and price per share of Common Stock covered by each option under the Plan which has not yet been exercised and the maximum number of shares that may be purchased per participant on any
    Exercise Date, shall be equitably adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other
    increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been
    “effected without receipt of consideration”. Such adjustment shall be made by the Plan Administrator, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issue by the Company of shares of
    stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an option. The Plan Administrator
    may, if it so determines in the exercise of its sole discretion, make provision for adjusting the Reserves as well as the price per share of Common Stock covered by each outstanding option and the maximum number of shares that may be purchased per
    participant on any Exercise Date, in the event the Company effects one or more reorganizations, recapitalizations, rights offerings or other increases or reductions of shares of its outstanding Common Stock.

   

  (b)            In the event of the proposed dissolution or
    liquidation of the Company, the Offering Periods will terminate and all participant contributions in respect of an open Offering Period will be refunded to participants immediately prior to the consummation of such proposed action, unless otherwise
    provided by the Plan Administrator.

   

  (c)            In the event of a proposed sale of all or
    substantially all of the assets of the Company, or the merger of the Company with or into another corporation, the Plan Administrator may determine, in the exercise of its sole discretion, to shorten the Offering Periods then in progress by setting a
    new Exercise Date (the “New Exercise Date”). If the Plan Administrator shortens the Offering Periods then in progress in lieu of assumption or substitution in the event of a merger or sale of assets, the
    Plan Administrator shall notify each participant in writing, at least ten (10) days prior to the New Exercise Date, that the Exercise Date for such participant’s option has been changed to the New Exercise Date and that such participant’s option will
    be exercised automatically on the New Exercise Date, unless prior to such date such participant has withdrawn from the Offering Period as provided in Section 12. If no New Exercise Date is set by the Plan Administrator, all participant contributions in
    respect of an open Offering Period will be refunded to participants immediately prior to the closing of the sale of all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation.

  
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  Section 20.            Amendment or Termination. 

   

  (a)            The Plan Administrator may at any time and for any
    reason terminate or amend the Plan. Except as provided in Section 19 hereof or as necessary to comply with applicable laws or regulations, no such termination or amendment can adversely affect options previously granted without the consent of the
    affected participant. To the extent necessary to comply with Code Section 423 (or any successor rule or provision) or any other applicable law or regulation, the Company shall obtain stockholder approval in such a manner and to such a degree as
    required.

   

  (b)            Without stockholder consent and without regard to
    whether any participant rights may be considered to have been “adversely affected,” the Plan Administrator shall be entitled to change the Offering Periods, change the maximum number of shares of Common Stock purchasable per participant on any Exercise
    Date, limit the frequency and/or number of changes in the amount withheld during Offering Periods, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount
    designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that
    amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other limitations or procedures as Plan Administrator determines in its sole
    discretion advisable which are consistent with the Plan.

   

  Section 21.            Notices.

   

  All notices or other communications by a participant to the Company under or in connection with the Plan shall be deemed to have been duly given
    when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof.

   

  Section 22.            Conditions Upon Issuance of Shares.

   

  (a)            Shares shall not be issued with respect to an
    option unless the exercise of such option and the issuance and delivery of such shares pursuant thereto shall comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the
    Securities Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and shall be further subject to the approval of counsel for the Company
    with respect to such compliance. In addition, should the Plan not be registered on an Exercise Date of any Offering Period in any foreign jurisdiction in which such registration is required, then no options granted with respect to the Offering Period
    to employees in that foreign jurisdiction shall be exercised on such Exercise Date, and all contributions accumulated on behalf of such employees during the Offering Period ending with such Exercise Date shall be distributed to the participating
    employees in that foreign jurisdiction without interest unless the terms of the offering specifically provide otherwise or otherwise required by applicable law.

  
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  (b)            As a condition to the exercise of an option, the
    Company may require the person exercising such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the
    opinion of counsel for the Company, such a representation is required by any of the aforementioned applicable provisions of law.

   

  Section 23.            Certain Tax Matters.

   

  (a)            If a participant makes a disposition, within the
    meaning of Section 424(c) of the Code and regulations promulgated thereunder, of any share of Common Stock issued to such participant hereunder, and such disposition occurs within the two (2) year period commencing on the day of the Offering Date or
    within the one (1) year period commencing on the day of the Exercise Date, such participant shall promptly notify the Company thereof.

   

  (b)            Purchases of shares of Common Stock by
    participants who are U.S. taxpayers participating in any offering under the Plan that is not intended to meet the requirements of Code Section 423 are intended to be exempt from, or to the extent subject thereto, to comply with Section 409A of the
    Code, and, accordingly, to the maximum extent permitted, any such offering and this Plan shall be interpreted in accordance therewith. The Company makes no representation that any or all of the payments described in this Plan will be exempt from or
    comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payments. The participant shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A of
    the Code.

   

  Section 24.            No Right to Employment. 

   

  Neither the creation of the Plan nor participation therein shall be deemed to create any right of continued employment or in any way affect the
    right of the Company or Designated Subsidiary to terminate the employment of an Employee.

   

  Section 25.            Governing Law.

   

  The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the principles of
    conflicts of law of such state.

   

  Section 26.            Term of Plan.

   

  The Plan was adopted and approved by the Board and the Company’s stockholders on ________, 2022 (the “Effective

        Date”). It shall continue in effect until the 10th anniversary of the Effective Date or until earlier terminated under Section 20 hereof.

  
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  Section 27.            Provisions for Foreign Participants. 

   

  (a)            The Plan Administrator may establish subplans or procedures under the
    Plan or take any other necessary or appropriate action to address applicable law, including (i) differences in laws, rules, regulations or customs of such jurisdictions with respect to tax, securities, currency, employee benefit or other matters, (ii)
    listing and other requirements of any non-U.S. securities exchange and (iii) any necessary local governmental or regulatory exemptions or approvals.

   

  (b)            By participating in the Plan or accepting any
    rights under it, each participant consents to the collection and processing of personal data relating to the participant so that the Company and its Subsidiaries can fulfill their obligations and exercise their rights under the Plan and generally
    administer and manage the Plan. This data will include, but may not be limited to, data about participation in the Plan and shares offered or received, purchased or sold under the Plan from time to time and other appropriate financial and other data
    about the participant and the participant’s participation in the Plan.

  
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  ANNEX A

   

  (Provisions Applicable to Employees in India)

   

  This Annex A includes additional terms and conditions that govern the participation in the Plan of Employees who are resident for tax purposes in India.
    Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Plan. In the event of any conflict between the provisions of the Plan and this Annex A, the provisions of this Annex A shall
    govern.

   

  1.             Compensation.

   

  Notwithstanding any other provision of the Plan, “Compensation” means the total cash salary
    inclusive of annual bonus (as defined by the Plan Administrator) payable to an Employee by the Company or one or more Designated Subsidiaries during such individual’s period of participation in one or more offerings under the Plan. The Plan
    Administrator may make modifications to the definition of Compensation for one or more offerings as deemed appropriate.

   

  2.             Requirements of Law.

   

  The granting of an option to Employees for purchasing shares pursuant to the Plan shall be subject to all applicable laws, rules and regulations, and to such approvals
    by any governmental agencies or bodies as may be required. No option to purchase shares shall be granted under the Plan if such grant would result in a violation of any applicable law.

   

  3.             Imposition of Other Requirements.

   

  The Company reserves the right to impose other requirements on each participant’s participation in the Plan, and on the shares purchased under the Plan, to the extent
    the Company determines it is necessary or advisable in order to comply with laws of India or to facilitate the administration of the Plan, and the Company may require each participant to sign any additional agreements or undertakings that may be
    necessary to accomplish the foregoing.

   

  4.             Exchange Control Information.

   

  As per the Foreign Exchange Management Act, 1999, participants in the Plan are required to mandatorily repatriate any proceeds from cash
    settlement or the sale of shares of acquired under the Plan to India and convert the proceeds into local currency within ninety (90) days of receipt. Each participant shall receive a foreign inward remittance certificate (“FIRC”) from the bank
    upon deposit of foreign currency. Each participant shall maintain the FIRC as evidence of the repatriation of funds in the event the Reserve Bank of India or the participant’s employer requests proof of repatriation.

  
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  5.             Tax Withholding.

   

  The Company or its Designated Subsidiary in India employing a participant in the Plan shall have the power to withhold up to the maximum statutory requirement, or to
    require such participant to remit to the Company or such Designated Subsidiary, an amount sufficient to satisfy all withholding tax and other governmental tax, charge, or fee requirements in respect of any shares purchased under the Plan. Each
    participant acknowledges that, regardless of any action taken by the Company and/or the Designated Subsidiary employing such participant, the ultimate liability for all income tax, payroll tax, fringe benefits tax, payment on account or other
    tax-related items related to the participant’s participation in the Plan and legally applicable or deemed applicable to the participant (the “Tax-Related Items”), is and remains the participant’s responsibility and may exceed the amount actually
    withheld by the Company and/or the Designated Subsidiary employing the participant.

   

  Prior to any relevant taxable or tax withholding event, as applicable, each participant shall pay or make adequate arrangements satisfactory to the Company and/or the
    Designated Subsidiary employing such participant to satisfy all Tax-Related Items. In this regard, each participant authorizes the Company and/or the Designated Subsidiary employing such participant, or their respective agents, at their discretion, to
    satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) withholding from the participant’s wages or other cash compensation paid to the participant by the Company and/or the Designated Subsidiary
    employing the participant; (ii) withholding from proceeds of the sale of shares purchased under the Plan, either through a voluntary sale or through a mandatory sale arranged by the Company (on the participant’s behalf pursuant to this authorization);
    or (ii) withholding in shares to be issued to the participant under the Plan.

   

  Each participant shall pay to the Company or the Designated Subsidiary employing such participant any amount of Tax-Related Items that the Company or the Designated
    Subsidiary employing the Participant may be required to withhold or account for as a result of the participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the
    shares, or the proceeds of the sale of shares, if the participant fails to comply with his or her obligations in connection with the Tax-Related Items.

   

  To determine the Tax-Related Items, the Designated Subsidiary employing the participant must obtain a valuation from a Category I Merchant Banker
    in India. Neither the Company nor the Designated Subsidiary employing the participant is under any obligation to obtain a valuation at a particular price nor are they required to obtain a valuation more frequently than once every one-hundred and equity
    (180) days.

   

  14Exhibit 10.17

   

   

    

   

  

   

  
  DESRI INC.

   

  DEFERRED COMPENSATION PLAN

   

    

   

    

   

    

  

   

  
   

    

  
     

    
      
 

  

  
  DESRI INC.

   

  DEFERRED COMPENSATION PLAN

   

  Article I.

      Purpose

   

  Section 1.1    This DESRI Inc. Deferred Compensation Plan sets forth the
      arrangements applicable to deferred compensation awards granted by the Grantor to Participants. The Plan is intended to provide deferred compensation for a select group of management or highly compensated employees, as described in Section 201(2) of
      ERISA.

   

  Section 1.2     Capitalized terms are defined in Article VIII below.

   

  Article II.

      Eligibility and Participation

   

  Section 2.1     Participants in the Plan are those employees of a member
      of the DESRI Group who are party to an Employment Agreement that specifies that such employee shall participate in the Plan (including by virtue of holding any DESCO Deferred Amount (as defined in Section 3.5 below)), whose Employment Agreement
      provides for the deferral of compensation subject to the Plan, or who are otherwise designated by their direct employer to participate in the Plan.

   

  Article III.

      Amounts Deferred

   

  Section 3.1     Deferred Compensation Awards. Each of the amounts
      deferred with respect to a Participant pursuant to Sections 3.2 and 3.3 below and each DESCO Deferred Amount is, for purposes of this Plan, a separate “Deferred Compensation Award” with respect to such Participant.

   

  Section 3.2     Mandatory Deferred Compensation. A portion of a
      Participant’s year-end bonus, if any, for each Performance Year shall be deferred in accordance with the applicable Deferral Schedule.

   

  Section 3.3     Supplemental Deferred Compensation. The
      Supplemental Deferred Compensation, if any, awarded to a Participant shall be deferred in its entirety in addition to any amount of Mandatory Deferred Compensation that is mandatorily deferred in accordance with the applicable Deferral Schedule.

  
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  Section 3.4     Accounts. Separate notional accounts shall be
      maintained for a Participant’s Mandatory Deferred Compensation and Supplemental Deferred Compensation for each Performance Year. Such accounts are referred to as the “Mandatory Deferred Compensation Account” and “Supplemental Deferred
        Compensation Account,” respectively, and may be divided into any number of sub-accounts as determined by the Plan Administrator in its sole and absolute discretion. A Participant’s Mandatory Deferred Compensation Account and Supplemental
      Deferred Compensation Account shall include such Participant’s DESCO Deferred Amounts, as applicable. Amounts shall be credited to the applicable Deferred Compensation Account at the time the related compensation is allocated or paid to the
      Participant, including without limitation, in the case of Supplemental Deferred Compensation, at the time such Supplemental Deferred Compensation is to be awarded, provided that returns shall accrue with respect to the applicable Deferred
      Compensation Amount in accordance with Section 4.2.

   

  Section 3.5     Treatment of Deferred Compensation deferred under
        DESCO Plans. With respect to any deferred compensation award under the D. E. Shaw Group Deferred Compensation Plan (the “DESCO Group Plan”) or the D. E. Shaw Group 2013 Deferred Compensation Plan for Specified Managers (the “DESCO
        Specified Manager Plan”) (a) that is outstanding and held by any Participant employed by a member of the DESRI Group as of the date this Plan becomes effective, (b) that relates to the 2021 Performance Year (or any prior Performance Year) or
      any other period of time prior to the beginning of the 2022 Performance Year, (c) that is scheduled to vest on or after January 1, 2022, and (d) that is assumed by the DESRI Group or a member thereof in connection with the DESRI IPO pursuant to a
      separate agreement or where the original “Grantor” under the DESCO Group Plan or the DESCO Specified Manager Plan, as applicable, is a member of the DESRI Group (each, a “DESCO Deferred Amount”), shall, as of the date this Plan becomes
      effective, be assumed under this Plan and shall be treated as if it were a Deferred Compensation Award under this Plan for the year for which it was deferred and shall vest and become payable at the times, and subject to the terms and conditions, set
      forth in this Plan, including without limitation Articles IV, V, and VI below (and shall be part of such Participant’s Mandatory Deferred Compensation Account or Supplemental Deferred Compensation Account, as applicable); provided that (x) to the
      extent the payment schedule applicable to any DESCO Deferred Amount prior to its assumption under this Plan differs from the payment schedule prescribed by the Plan, the payment schedule applicable to such DESCO Deferred Amount prior to its
      assumption under this Plan shall apply, and (y) a Participant’s Supplemental Deferred Compensation, if any, shall continue to vest as set forth in the employment agreement or written award agreement governing the amount of such Supplemental Deferred
      Compensation.

  
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  Article IV.

      Return on Deferred Compensation

   

  Section 4.1     Notional Investments. Subject to Section 5.3
      below, a Participant’s Deferred Compensation in the Participant’s Deferred Compensation Account shall earn a return determined by the Plan Administrator based on the return of the particular investments designated and weighted by the Plan
      Administrator for this purpose, as if the amounts in the Participant’s Deferred Compensation Account were actually invested in the particular investments designated by the Plan Administrator. Such returns shall generally be computed after deduction
      of expenses incurred by the Plan Administrator or any other member of the DESRI Group in connection with such investments, to the extent applicable. Notwithstanding the foregoing, the Plan Administrator may change such investments and/or weightings
      at any point prior to, during, or following the Performance Year; provided that such change shall not impact earnings accrued on Deferred Compensation with respect to any date prior to such change. Each such determination shall be binding on
      the Grantor and all Participants. Notwithstanding anything to the contrary in this Section 4.1, any return that relates to any period of time before the Effective Date shall be determined in the manner such return would have been determined under the
      DESCO Group Plan or the DESCO Specified Manager Plan, as applicable based on the plan in which the applicable Participant participated immediately prior to the Effective Date, had the applicable Deferred Compensation Award (including any DESCO
      Deferred Award) been governed by the DESCO Group Plan or the DESCO Specified Manager Plan, as applicable, until the Effective Date.

   

  Section 4.2     Calculation of Returns. Returns shall be
      calculated by the Plan Administrator as provided in Section 4.1 above. Each such computation shall be set forth in the books and records of the Plan Administrator, and shall be conclusive absent manifest error. For the avoidance of doubt, the return
      on a Participant’s Deferred Compensation may be negative, which would result in a corresponding reduction of the balance of the applicable Deferred Compensation Account. No return on a Participant’s Deferred Compensation shall be considered final
      until the financial records of the applicable investments are closed for the calendar year and any applicable audits have been completed, provided that such records shall be closed prior to the final payment date with respect to any vested
      Deferred Compensation Award. Returns on awards of Mandatory Deferred Compensation shall begin to accrue as of January 1 of the year following the Performance Year to which such award relates, provided that, notwithstanding the vesting provisions of
      Article V below, for any portion of a Participant’s Deferred Compensation Award actually deferred prior to the end of a particular Performance Year (pursuant to Article III above or otherwise), the return on such portion shall begin to accrue as of
      the first day of the month following such actual deferral, unless such actual deferral occurs on the first U.S. business day of a month, in which case the return shall begin to accrue as of the first day of such month.

  
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  Article V.

      Vesting and Forfeiture

   

  Section 5.1     Vesting of Principal. As of the Effective Date,
      subject the applicable Participant satisfying certain requirements in connection with the DESRI IPO, the full principal balance of each Deferred Compensation Award (other than each Excluded Award) held by such Participant shall be deemed vested as of
      the Effective Date. For the avoidance of doubt, each Excluded Award shall not be deemed to vest as of the Effective Date.

   

  With respect to any Deferred Compensation Award that remains unvested
      as of the Effective Date, except as expressly set forth in a Participant’s applicable Employment Agreement or Written Award Agreement, one-third of the principal balance of a Participant’s Deferred Compensation Award with respect to a Performance
      Year shall vest on December 31 of each of the three calendar years immediately following the calendar year in which the Performance Year ends, but only if such Participant remains employed by a member of the DESRI Group on the last day of the
      applicable calendar year. For the avoidance of doubt, any portion of a Deferred Compensation Award actually deferred prior to the end of a year pursuant to Section 3.4 above shall be deemed for purposes of the vesting provisions of this Article V
      above to have been deferred as of the end of such year.

   

  Section 5.2     Vesting of Return. The return, if any, on each
      Deferred Compensation Award shall vest as of the later of (a) the time the associated Deferred Compensation Award principal balance vests, and (b) the time such return accrues pursuant to Article IV above.

   

  Section 5.3     Vesting and Forfeiture upon Termination of Employment.
      Except as expressly set forth in a Participant’s applicable Employment Agreement or Written Award Agreement and solely with respect to awards of Supplemental Deferred Compensation set forth in such agreements, the following provisions shall apply
      with respect to the vesting and forfeiture of Deferred Compensation Awards upon termination of a Participant’s employment:

   

  (a)          Full Vesting Terminations.
      Notwithstanding Section 5.1 above, in the event of (i) termination of a Participant’s employment with all members of the DESRI Group by reason of Permanent Disability or Permanent Retirement, as the Plan Administrator shall determine in its sole and
      absolute discretion, (ii) termination of a Participant’s employment by Mutual Agreement, as the Plan Administrator shall determine in its sole and absolute discretion, (iii) involuntary termination of a Participant’s employment with all members of
      the DESRI Group by reason other than for Cause, as the Plan Administrator shall determine in its sole and absolute discretion, or (iv) a Participant’s death, all unvested Deferred Compensation Awards held in such Participant’s Deferred Compensation
      Account and any associated return on such Participant’s Deferred Compensation Awards shall immediately vest, and shall become payable to such Participant (or such Participant’s beneficiary or the executors, administrators, or other legal
      representatives of such Participant or such Participant’s estate, as the case may be) in accordance with the originally scheduled deferred compensation payment dates pursuant to Section 6.1 below as if such Participant had remained employed through
      the end of the applicable calendar year, provided that:

   

    

  (1)          the payment of any amount shall be subject to the
      Participant’s not having materially breached the Participant’s post-employment obligations or obligations triggered by a termination of employment, in each case contained in the Participant’s Employment Agreement or any other written agreement with a
      member of the DESRI Group; 

    

   

  
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  (1)          the payment of any amount shall be
      subject to the Participant’s not having materially breached the Participant’s post-employment obligations or obligations triggered by a termination of employment, in each case contained in the Participant’s Employment Agreement or any other written
      agreement with a member of the DESRI Group;

   

  (2)          in the case of the Participant’s
      Permanent Retirement, if the Participant does not remain permanently retired (including without limitation from self-employment, but excluding the Participant’s return to employment with any member of the DESRI Group), the Plan Administrator may in
      its sole and absolute discretion treat such termination as a temporary retirement subject to the provisions of Section 5.3(b) below rather than this Section 5.3(a);

   

  (3)          in the case of termination of the
      Participant’s employment by Mutual Agreement, the payment of any amount shall also be subject to the Participant’s compliance with the terms of any agreement between the Participant and the Grantor or any other member of the DESRI Group entered into
      in connection with such termination and the terms and provisions of the Mutual Agreement, unless otherwise agreed by the Plan Administrator at the time of such termination; and

   

  (4)          except in the case of death, the payment of any amount
      shall also be subject to the Participant’s execution, delivery, and non-revocation within 45 days of such termination of a release of the members of the DESRI Group in a form provided by the Plan Administrator.

   

  In the event of a termination of a Participant’s employment pursuant to this Section 5.3(a), beginning at the last time any return was posted to the Participant’s Deferred Compensation Account at or prior to such
      termination, such Participant’s Deferred Compensation (including without limitation any Deferred Compensation Award that, as described in Section 5.1 above, is vested as of the Effective Date) shall cease to earn returns under Article IV above and
      instead shall earn a return equal to the Federal Funds Rate for the remainder of the period until such Deferred Compensation is paid to such Participant pursuant to Article VI below, unless otherwise determined by the Plan Administrator in its sole
      and absolute discretion at the time of such termination, provided that, upon termination for Permanent Retirement, a Participant shall continue to earn returns under Article IV above unless otherwise determined by the Plan Administrator in
      its sole and absolute discretion at the time of such termination. The Plan Administrator may, at any time in its sole and absolute discretion, change the earnings from the Federal Funds Rate to that set forth in Article IV above, or vice versa,
      as applicable, provided that such change shall not impact earnings accrued on a Participant’s Deferred Compensation prior to such change. 

    

  
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  		(b)	Non-Vesting Terminations, Forfeiture.

   

  (1)          Other Terminations.
      Notwithstanding Section 5.1 above, in the event of termination of a Participant’s employment for any other reason other than those described in Section 5.3(a) above (again, as the Plan Administrator shall determine in its sole and absolute
      discretion), including without limitation termination of a Participant’s employment for Cause, temporary retirement, or voluntary termination, all unvested Deferred Compensation Awards held in such Participant’s Deferred Compensation Account and any
      return on such unvested Deferred Compensation Awards, whether or not posted to such Participant’s account, shall be forfeited, and such Participant shall have no right or interest in such Deferred Compensation Awards or return. Any Deferred
      Compensation paid or payable to the Participant for a period during which the Participant was Permanently Retired (as determined by the Plan Administrator in its sole and absolute discretion) shall not be recovered from the Participant and shall, if
      then unpaid, be paid at the time designated in Article VI below; provided, however, that any Deferred Compensation paid to the Participant (i) for a period during which the Participant was (in whole or in part) not Permanently Retired (as
      determined by Plan Administrator in its sole and absolute discretion) and (ii) to which the Participant would not have been entitled following a termination for any other reason other than those described in Section 5.3(a) above shall be immediately
      payable by the Participant upon demand by the Plan Administrator with interest from the date of payment to the Participant, as computed using the broker’s call rate of a broker selected by the Plan Administrator in its sole and absolute discretion
      and otherwise as computed by the Plan Administrator in its sole and absolute discretion.

   

  (2)          Special Rule for Forfeiture upon
        Permanent Retirement for Supplemental Deferred Compensation Accounts. Notwithstanding any other provision of this Article V, in the event of a Participant’s Permanent Retirement, all unvested Deferred Compensation Awards held in such
      Participant’s Supplemental Deferred Compensation Account and any associated return on such Deferred Compensation Awards, whether or not posted to the Participant’s Supplemental Deferred Compensation Account, shall be forfeited and the Participant
      shall have no right or interest in such Deferred Compensation Awards or return.

  
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  (3)          Special Rule for Forfeiture Upon Occurrence of Cause.
      Notwithstanding the other provisions of this Plan and regardless of the reason for the termination of a Participant’s employment, if Cause has occurred prior to or as of the final date of such Participant’s employment, as determined by the Plan
      Administrator in its sole discretion, then such termination shall be, and shall be classified by the Plan Administrator as, an involuntary termination of the Participant’s employment for Cause.

   

  Article VI.

      Payment

   

  Section 6.1     General Payment Schedule. Payment of a
      Participant’s Deferred Compensation Account shall be made as follows: With respect to the portions (if any) of each Participant’s Deferred Compensation Account that vest at the end of a particular calendar year pursuant to Article V above (excluding
      for such purpose any amounts vested on an accelerated basis pursuant to Section 5.3 above or deemed vested as of the Effective Date pursuant to the first paragraph of Section 5.1 above, which such amounts shall be payable in the amounts and on the
      dates that each portion of such vested Deferred Compensation would have become payable were such vested Deferred Compensation still subject to the schedule of vesting set forth in the second paragraph of Section 5.1 above), (a) an amount equal to 90
      percent of (1) each such portion together with (2) the positive or negative return associated with each such portion as of December 17 of such year, as such positive or negative return appears at such time on the books and records of the Plan
      Administrator (the “Initial Payment”), shall be paid to the Participant by the Grantor on the last business day on or before December 31 of such year; and (b) an amount equal to 100 percent of (1) (i) each such portion together with (ii) the
      positive or negative return associated with each such portion as of the end of such year, as such positive or negative return appears on the books and records of the Plan Administrator as at the end of such year (such amount, the “Total Amount”),

      minus (2) the Initial Payment for such year, shall be paid to the Participant by the Grantor on a date within the next year to be determined by the Plan Administrator in its sole and absolute discretion, which date shall ordinarily be no later than
      30 days following the determination of the return on each such deferred amount for such year and after all related accounting work and audits have been determined by the Plan Administrator, in its sole and absolute discretion, to have been completed,
      or as soon thereafter within such calendar year as the Plan Administrator determines in its sole and absolute discretion is practicable; provided, however, that notwithstanding the foregoing, any payment of any amount shall for all purposes of this
      Plan be deemed to be made on a timely basis if paid on such other date permitted by Section 409A of the Code as determined in the sole and absolute discretion of the Plan Administrator (it being understood that the Participant shall not be permitted,
      directly or indirectly, to designate the taxable year of payment). To the extent that the Plan Administrator determines after finalization of the calculation of the return with respect to a Deferred Compensation Award that the Initial Payment
      exceeded the Total Amount to which the Participant is entitled in respect of such Deferred Compensation Award, then the Plan Administrator shall be entitled to deduct such excess from any other compensatory payment (other than deferred compensation
      subject to Section 409A of the Code) due to be made by the Plan Administrator or the Grantor to such Participant to the extent permitted by applicable law, or may demand that the Participant return such excess to the Plan Administrator or the
      Grantor, and the Participant shall be obligated to return such excess upon demand.

  
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  Section 6.2     Accelerated Payment upon Death. Notwithstanding
      Sections 5.1 or 5.3(a) above, in the event of a Participant’s death, all unpaid Deferred Compensation Awards held in such Participant’s Deferred Compensation Account at the time of such death, and any associated return on such Deferred Compensation
      Awards as of the end of the month in which the death occurs, shall become payable to the Participant (or the Participant’s beneficiary or the executors, administrators, or other legal representatives of the Participant or the Participant’s estate, as
      the case may be) within 90 days of the Participant’s death.

   

  Article VII.

      Changes to the Plan; Deferred Compensation Structure

   

  Section 7.1     General. The Plan Administrator at any time may
      terminate or suspend the Plan, and from time to time may amend or modify the Plan. No amendment, modification, termination, or suspension of the Plan shall in any manner adversely affect any Deferred Compensation Award previously granted under the
      Plan without the consent of the Participant holding such Deferred Compensation Award or the consent of a majority of Participants holding similar Deferred Compensation Awards (such majority to be determined based on the principal amount covered by
      such Deferred Compensation Awards); provided that the Plan Administrator shall have the sole and absolute discretion to make any accelerated distributions permissible under Treas. Reg. Section 1.409A-3(j)(4) to Participants with respect to any
      Deferred Compensation, provided that such distributions meets the requirements of Treas. Reg. Section 1.409A-3(j)(4). Notwithstanding the preceding sentence, except as expressly limited by a written agreement to which a Participant is a party (and,
      in such case, only as to such Participant), the Plan Administrator may in its sole and absolute discretion, change any of the terms of this Plan, in each case effective as of the beginning of any Performance Year after the calendar year in which the
      change is made, including without limitation:

   

  (a)          changing the method of calculation
      applicable to the Participant’s Deferred Compensation Award for the Performance Year;

   

  (b)          increasing, decreasing, or eliminating
      the amount of Deferred Compensation Awards for the Performance Year;

  
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  (c)          changing the vesting or payment
      schedule applicable to a Deferred Compensation Award for the performance year; and

   

  (d)          modifying the date of calculation of,
      or percentage of vested Deferred Compensation Award paid pursuant to, the Initial Payment;

   

  provided that no such change would result in imposition of an
      additional tax under Section 409A of the Code.

   

  Any such change in compensation shall be deemed to modify this Plan and
      any applicable provisions of the Employment Agreement or Written Award Agreement. In the absence of any such change, the method of calculating the Participant’s Deferred Compensation under this Plan shall remain the same as it was during the prior
      Performance Year.

   

  The authority of the Plan Administrator pursuant to this Section 7.1 is
      in addition to its authority to effect changes pursuant to Section 4.1 above or any other provisions of this Plan.

   

  Notwithstanding the foregoing, no change pursuant to this Section 7.1,
      Section 4.1 above, or any other provision of this Plan shall accelerate or postpone the payment of any portion of the Participant’s Deferred Compensation Account pursuant to Article VI above except as permitted in compliance with Section 409A of the
      Code.

   

  Section 7.2     Amendments by Reason of Section 409A or Section 457A
        of the Code. Notwithstanding any other provision of the Plan, the Plan Administrator reserves the right to make any amendments to the Plan if, in the sole and absolute discretion of the Plan Administrator, such amendments become necessary or
      advisable as a result of changes in law or regulation or to avoid the imposition of any additional taxes under Section 409A or Section 457A of the Code.

   

  Article VIII.

      Definitions

   

  Whenever used herein, the following terms shall have the respective
      meanings set forth below:

   

  “Cause” means cause, as the Plan Administrator shall determine in
      its sole and absolute discretion, provided that, if a Participant is party to an Employment Agreement that provides a definition of cause, then for purposes of this Plan with respect to such Participant, the term “Cause” shall have the
      meaning set forth in such agreement.

   

  “Code” means the United States Internal Revenue Code of 1986, as
      amended, and any successor thereto.

  
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  “Covered Person” means any former, current, or future director,
      officer, employee, agent, general or limited partner, manager, member, shareholder, stockholder, owner, affiliate, or assignee of any member of the DESRI Group, or any former, current, or future director, officer, employee, agent, general or limited
      partner, manager, member, shareholder, stockholder, owner, affiliate, or assignee of any of the foregoing; provided that the term “Covered Persons” in relation to any Participant shall exclude that Participant.

   

  “Deferral Schedule” means Annex A to the Plan. Pursuant to Article
      VII above, the provisions of Annex A applicable to any Performance Year may be amended by the Plan Administrator or the Grantor in its sole and absolute discretion at any time prior to the commencement of the Performance Year to which it applies. The
      Plan Administrator or the Grantor may provide for different versions of Annex A that apply to different categories of Participants, or to any single Participant, or to any group of Participants as determined by the Plan Administrator or the Grantor
      in its sole and absolute discretion at any time prior to the commencement of the Performance Year to which it applies.

   

  “Deferred Compensation” means Mandatory Deferred Compensation and
      Supplemental Deferred Compensation (in each case, including applicable DESCO Deferred Amounts).

   

  “Deferred Compensation Account” means the Mandatory Deferred
      Compensation Account and the Supplemental Deferred Compensation Account (for the avoidance of doubt, in each case, including applicable DESCO Deferred Amounts).

   

  “Deferred Compensation Award” has the meaning set forth in Section
      3.1 above.

   

  “DESCO Deferred Amount” has the meaning set forth in Section 3.5
      above.

   

  “DESCO Group Plan” has the meaning set forth in Section 3.5 above.

   

  “DESCO Specified Manager Plan” has the meaning set forth in
      Section 3.5 above.

   

  “DESRI Group” means, collectively: (a) DESRI Project Management
      Services, L.L.C., and DESRI Inc.; (b) any entity, trust, or unincorporated association that any of the foregoing owns, directly or indirectly and in whole or in part, or for which any of the foregoing acts, directly or indirectly, as general partner,
      manager, managing member, investment manager, or management company; and (c) any subsidiary (whether direct or indirect) of any of the foregoing.

   

  “DESRI IPO” has the meaning set forth in Section 9.8 below.

  
    11

    
      
 

  

  “D. E. Shaw Group” means, collectively: (a) D. E. Shaw & Co.,
      L.P. and D. E. Shaw & Co., L.L.C.; (b) D. E. Shaw & Co., Inc. and D. E. Shaw & Co. II, Inc. (the general partner and managing member, respectively, of the foregoing); (c) any entity, trust, or unincorporated association that any of the
      foregoing owns, directly or indirectly and in whole or in part, or for which any of the foregoing acts, directly or indirectly, as general partner, manager, managing member, investment manager, or management company, including without limitation D.
      E. Shaw Research, LLC and D. E. Shaw Technology Development, LLC (D. E. Shaw Research, LLC’s managing member); (d) any affiliate of any of the foregoing or of David E. Shaw; and (e) any other entity designated by the Plan Administrator as a member of
      the D. E. Shaw Group.

   

  “Effective Date” has the meaning set forth in Section 9.8 below.

   

  “Employment Agreement” means a written employment agreement
      between a Participant and a member of the DESRI Group, as the same may be amended from time to time.

   

  “ERISA” means the Employee Retirement Income Security Act of 1972,
      as amended from time to time.

   

  “Excluded Award” means each Deferred Compensation Award set forth
      on Exhibit A of the Plan.

   

  “Federal Funds Rate” means, as of any day of determination, the
      daily federal funds (effective) rate released by the U.S. Federal Reserve, as determined by the Plan Administrator in its sole and absolute discretion for such day.

   

  “Governmental Authority” means any domestic or foreign nation,
      government, state or other political subdivision thereof, any entity legally exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government, including, without limitation, any self-regulatory
      authority (such as a stock or option exchange or securities self-regulatory organization), governmental authority, agency, commission, department, board, or instrumentality, and any court or administrative tribunal of competent jurisdiction.

   

  “Grantor” means the member of the DESRI Group that is the direct
      employer of the Participant or that has been designated by the Plan Administrator as the grantor of any Deferred Compensation Award.

   

  “Initial Payment” has the meaning set forth in Section 6.1 above.

   

  “Initial Performance Year” shall mean the calendar year in which a
      Participant first became employed by the Plan Administrator or the Grantor or, if later, first became eligible to participate in this Plan, or such shorter or longer period as may be designated as an “Initial Performance Year” in the Participant’s
      Employment Agreement.

  
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  “Mandatory Deferred Compensation” means any Deferred Compensation
      Award in respect of a mandatorily deferred portion of a year-end bonus that is unpaid, including any applicable DESCO Deferred Amounts that are unpaid as of the Effective Date.

   

  “Mandatory Deferred Compensation Account” has the meaning set
      forth in Section 3.4 above.

   

  “Mutual Agreement” means a written mutual agreement between a
      Participant and a member of the DESRI Group that designates the termination of such Participant’s employment with such member of the DESRI Group as a mutual agreement pursuant to this Plan and that is approved in writing by the Plan Administrator,
      acting in its sole and absolute discretion.

   

  “Participant” means any employee described in Section 2.1 above.

   

  “Performance Year” means each of a Participant’s Initial
      Performance Year and each subsequent calendar year in which such Participant earns a Deferred Compensation Award.

   

  “Permanent Disability” shall have the meaning set forth in the
      long-term disability policy applicable to a Participant’s direct DESRI Group employer, or if no such policy is in effect, shall mean a Participant’s inability to perform the duties of such Participant’s employment by reason of a medically
      determinable physical or mental impairment that is expected to result in death or can be expected to last for a continuous period of not less than 12 months, provided that if a Participant is party to an Employment Agreement that provides a
      definition of “permanent disability” or “disability” that differs from that set forth in the Standard Employment Agreement then, for purposes of the Plan with respect to such Participant, the term “Permanent Disability” shall have meaning set forth
      in such agreement.

   

  “Permanent Retirement” means permanent retirement by a Participant
      from all employment (including, without limitation, self-employment), provided that if a Participant is party to an Employment Agreement that provides a definition of “permanent retirement” that differs from that set forth in the Standard
      Employment Agreement then, for purposes of the Plan with respect to such Participant, the term “Permanent Retirement” shall have meaning set forth in such agreement.

   

  “Person” means any individual, corporation, partnership,
      association, limited liability company, joint venture, trust, unincorporated organization, organization similar to the foregoing, or Governmental Authority.

   

  “Plan” means this DESRI Inc. Deferred Compensation Plan.

   

  “Plan Administrator” means DESRI Inc.

  
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  “Section 409A of the Code” means Section 409A of the Code,
      including any amendments or successor provisions to that section, and any regulations and other administrative guidance under that section, in each case as in effect from time to time or interpreted through further administrative guidance.

   

  “Section 457A of the Code” means Section 457A of the Code,
      including any amendments or successor provisions to that section, and any regulations and other administrative guidance under that section, in each case as in effect from time to time or interpreted through further administrative guidance.

   

  “Separation From Service” means a Participant’s separation from
      service within the meaning of Section 409A of the Code.

   

  “Standard Employment Agreement” means the standard form of
      employment agreement for new employees of the Participant’s direct DESRI Group employer at the time the Participant commenced employment with the DESRI Group.

   

  “Supplemental Deferred Compensation” means any bonus or incentive
      compensation payable to a Participant that is required to be deferred pursuant to an Employment Agreement or another written agreement or arrangement with a member of the DESRI Group including without limitation (a) any bonus payable to a Participant
      and designated as a one-time special deferred bonus pursuant to the Participant’s Employment Agreement or Written Award Agreement, (b) any bonus payable to a Participant and designated as a one-time special deferred replacement award pursuant to the
      Participant’s Employment Agreement or Written Award Agreement, and (c) any bonus payable to a Participant and designated as additional deferred compensation pursuant to a Written Award Agreement, in each case (i) other than Mandatory Deferred
      Compensation and any other amount that is expressly excluded from the provisions of this Plan and (ii) including any applicable DESCO Deferred Amounts that are unpaid as of the Effective Date.

   

  “Supplemental Deferred Compensation Account” has the meaning set
      forth in Section 3.4 above.

   

  “Total Amount” has the meaning set forth in Section 6.1 above.

   

  “Written Award Agreement” means a written document pursuant to
      which a deferred bonus award was made to a Participant by a member of the DESRI Group (or, with respect to any applicable DESCO Deferred Amount, by a member of the D. E. Shaw Group).

  
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  Article IX.

      Miscellaneous Provisions

   

  Section 9.1     Administration. The Plan Administrator shall be
      responsible for the administration of the Plan. The Plan Administrator may prescribe, amend, and rescind rules and regulations relating to the administration of the Plan, provide for conditions and assurances it deems necessary or advisable to
      protect the interests of the Plan Administrator, the Grantor, or any other member of the DESRI Group, and make all other determinations necessary or advisable for the administration and interpretation of the Plan. Any authority exercised by the Plan
      Administrator under the Plan shall be exercised by the Plan Administrator in its sole and absolute discretion. Determinations, interpretations, or other actions made or taken by the Plan Administrator under the Plan or under Deferred Compensation
      Awards granted under the Plan shall be final, binding, and conclusive for all purposes and upon all persons.

   

  Section 9.2     Delegation by the Plan Administrator. All of the
      powers, duties, and responsibilities of the Plan Administrator specified in this Plan may be exercised and performed by the Plan Administrator or any duly constituted committee of the Plan Administrator or any other person or group of persons (acting
      together or separately), in each case to the extent authorized by the Plan Administrator to exercise and perform such powers, duties, and responsibilities, and any determination, interpretation, or other action taken by such committee or person or
      group of persons shall have the same effect hereunder as if made or taken by the Plan Administrator.

   

  Section 9.3     Tax Withholding. The Plan Administrator, the
      Grantor, and any other member of the DESRI Group that has employed a Participant shall have the power to withhold, or to require a Participant to remit to the Plan Administrator, the Grantor, or such member of the DESRI Group, an amount in cash
      sufficient to satisfy all U.S. federal, state, local, and any non-U.S. withholding tax or other governmental tax, charge or fee requirements in respect of any Deferred Compensation Award granted under the Plan and any associated return.

   

  Section 9.4     No Guarantee of Employment. Nothing in the Plan
      shall interfere with or limit in any way the right of the Plan Administrator or the Grantor to terminate any Participant’s employment at any time, or confer upon any Participant any right to continue in the employ of any member of the DESRI Group.

   

  Section 9.5     No Rights to Damages. Nothing in the Plan shall
      impose upon the Plan Administrator, the Grantor, or any member of the DESRI Group any liability in connection with the provision, loss, or payment of benefits or rights under this Plan; the exercise of discretion under the Plan; or the failure or
      refusal of any person to exercise discretion under the Plan, in each case, to the extent such exercise, failure, or refusal is permitted by the terms and provisions of the Plan. No Person shall have any obligation under this Plan except the Grantor,
      and the obligations of the Grantor arising under (or relating to) this Plan shall be without recourse to any other Covered Person, and no such other Covered Person shall have any liability, in such capacity or otherwise, for the obligations of the
      Grantor. No Participant may seek to recover from any Person (including without limitation any member of the DESRI Group) any losses that the Participant may suffer as a result of, arising out of, and/or in connection with this Plan. WITHOUT LIMITING
      THE FOREGOING AND NOTWITHSTANDING ANYTHING IN THIS PLAN TO THE CONTRARY, TO THE FULLEST EXTENT PERMITTED BY LAW, NO COVERED PERSON SHALL BE LIABLE TO ANY PERSON FOR CONSEQUENTIAL, EXEMPLARY, PUNITIVE, INCIDENTAL, INDIRECT, OR SPECIAL DAMAGES.

  
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  Section 9.6     Unfunded Plan; Plan Not Subject to ERISA. The Plan
      is an unfunded plan and Participants shall have the status of unsecured creditors of the Plan Administrator or the Grantor, as the case may be. The Plan is not intended to be subject to the Employee Retirement Income and Security Act of 1974, as
      amended.

   

  Section 9.7     Freedom of Action. Nothing in the Plan shall be
      construed as limiting or preventing the Plan Administrator, the Grantor, or any member of the DESRI Group from taking any action that it deems appropriate or in its best interest (as determined in its sole and absolute discretion) and no Participant
      (or person claiming by or through a Participant) shall have any right relating to the diminishment in the value of any Deferred Compensation Award or any associated return as a result of any such action. The foregoing shall not constitute a waiver by
      a Participant of the terms and provisions of the Plan.

   

  Section 9.8     Term of Plan. DESRI Inc. (the ultimate parent of
      the DESRI Group) plans to execute an initial public offering of its equity securities during calendar year 2022 (the “DESRI IPO”). The Plan shall be effective as immediately prior to the completion of the DESRI IPO on the date of the DESRI IPO
      (the “Effective Date”), and shall continue in effect until terminated by the Plan Administrator in its sole and absolute discretion. The provisions of the Plan shall continue thereafter to govern all unpaid Deferred Compensation Awards as of
      the termination of the Plan.

   

  Section 9.9     409A and 457A Compliance. Where reasonably
      possible and practicable, the Plan shall be administered and interpreted in a manner to avoid the imposition on Participants of immediate tax recognition and additional taxes pursuant to Section 409A of the Code and 457A of the Code. Notwithstanding
      the foregoing, no member of the DESRI Group shall have any liability to any person in the event Section 409A of the Code or Section 457A of the Code applies to any payments hereunder in a manner that results in adverse tax consequences for a
      Participant or any of a Participant’s beneficiaries or transferees. Each payment made under this Plan shall be treated as a separate payment for purposes of Section 409A of the Code, and the right to a return on a Deferred Compensation Award shall be
      treated as a right to earnings separate and distinct from the right to the underlying deferred amount for purposes of Section 409A of the Code. The Plan Administrator shall have full authority to give effect to the intent of this Section 9.
      Notwithstanding anything else contained in this Plan to the contrary, if a Participant is a “specified employee” within the meaning of Section 409A of the Code, any payment required to be made to the Participant hereunder upon or following the
      Participant’s Separation of Service shall be delayed until after the six month anniversary of the Participant’s Separation from Service to the extent necessary to comply with, and avoid imposition on the Participant of any tax penalty imposed under,
      Section 409A of the Code. Should payments be delayed in accordance with the preceding sentence, the accumulated payment that would have been made but for the period of the delay shall be paid in a single lump sum during the ten day period following
      the six month anniversary of the Separation from Service.

  
    16

    
      
 

  

  Section 9.10   Relationship of the Parties. The relationship
      between the Grantor and a Participant hereunder is agreed to be solely that of employee and employer. Nothing contained herein and no modification of responsibility or compensation made hereafter shall be construed so as to constitute the parties as
      partners or joint venturers.

   

  Section 9.11   Governing Law. This Plan and its enforcement
        shall be governed by, and construed in accordance with, the laws of the State of New York, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of
        another jurisdiction.

   

  Section 9.12   Severability. The holding of any provision of this
      Plan to be illegal, invalid, or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Plan, which shall remain in full force and effect.

   

  Section 9.13   Waiver. The failure of a party to insist upon
      strict adherence to any term of this Plan on any occasion or occasions shall not be considered a waiver thereof or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Plan.

   

  Section 9.14   Entire Terms. Except to the extent expressly
      specified herein, this Plan contains all of the terms applicable to the deferral of the Participant’s compensation and shall supersede any prior verbal or written agreement or understanding between the Participant and the Plan Administrator, the
      Grantor or any other member of the DESRI Group with respect to the deferral of the Participant’s compensation that is inconsistent with this Plan or that would not be in compliance with Section 409A of the Code.

   

  Section 9.15   Assignment. Except as otherwise provided in this
      Section 9.15, this Plan shall inure to the benefit of and be binding upon the parties referred to in this Plan and their respective heirs, representatives, successors, and assigns. Neither this Plan nor any right or interest hereunder shall be
      assignable by the Participant or the Participant’s beneficiaries or legal representatives without the Plan Administrator or the Grantor’s prior written consent; provided, however, that nothing in this Section 9.15 shall preclude a Participant
      from designating a beneficiary to receive any benefit payable hereunder upon such Participant’s death, or the executors, administrators, or other legal representatives of a Participant or a Participant’s estate from assigning any rights hereunder to
      the person or persons entitled thereunto. This Plan shall be assignable by the Plan Administrator or the Grantor to a subsidiary or affiliate of the Plan Administrator; to any corporation, partnership, or other entity that may be organized by the
      Plan Administrator or its officers, as a separate business unit in connection with the business activities of the Plan Administrator or of its officers; or to any corporation, partnership, or other entity resulting from the reorganization, merger, or
      consolidation of the Plan Administrator or the Grantor with any other corporation, partnership, or other entity, or any corporation, partnership, or other entity to or with which all or any portion of the Plan Administrator’s or the Grantor’s
      business or assets may be sold, exchanged, or transferred.

  
    17

    
      
 

  

  Section 9.16   Third Party Beneficiaries. Each of the entities in
      the DESRI Group is a third-party beneficiary of this Plan.

   

  Section 9.17   No Attachment. Except as required by law, no right
      to receive payments under this Plan shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law,
      and any attempt, voluntary or involuntary, to effect any such action shall be null, void, and of no effect.

   

  Section 9.18   No Coercion or Duress. By accepting a Deferred
      Compensation Award under this Plan, each Participant acknowledges and agrees that (a) the Participant has full understanding of the nature and extent of the agreements and provisions contained or referenced herein, (b) because of the nature of the
      Plan Administrator’s business, this Plan would not be adopted without the agreements and provisions contained or referenced herein, (c) the Participant is accepting such Deferred Compensation Award voluntarily and of the Participant’s own free will
      in order to obtain the benefits of employment, continued employment, and additional compensation by the Plan Administrator or the Grantor, and (d) the Participant has not been induced to accept such Deferred Compensation Award through any coercion or
      duress.

   

  Section 9.19   Headings. The Article and Section headings
      appearing in this Plan are used for convenience of reference only and shall not be considered a part of this Plan or in any way modify, amend, or affect the meaning of any of its provisions.

   

  Section 9.20   Rules of Construction. The fact that this Plan was
      drafted by the Plan Administrator shall not be taken into account in interpreting or construing any provision of this Plan.

   

  Section 9.21   Payments to Estate. In the case of a Participant’s
      death or disability, any amounts payable to the Participant under this Plan may be paid to the Participant’s beneficiary or the executors, administrators, or other legal representatives of the Participant or the Participant’s estate, as the case may
      be.

  
    18

    
      
 

  

  Annex A 

   

  Deferral Schedules for the 2021 Performance Year

      and each subsequent Performance Year

   

  

      Note: The provisions of Annex A applicable to any Performance Year may be amended by the Plan Administrator or the Grantor in its sole and absolute discretion at any time prior to the commencement of the Performance Year to which it applies as
      provided in the Plan. “Applicable Compensation” shall have the meaning set forth below.

   

  FOR THE 2021 PERFORMANCE YEAR:

   

  For purposes of the 2021 Performance Year, the amount of each Participant’s Mandatory
      Deferred Compensation shall be determined in accordance with the terms and conditions of the DESCO Group Plan or the DESCO Specified Manager Plan, as applicable based on the plan in which the applicable Participant participated for the 2021
      Performance Year, as such terms and conditions were in effect for the 2021 Performance Year.

   

  FOR THE 2022 PERFORMANCE YEAR AND EACH SUBSEQUENT PERFORMANCE YEAR:

   

  For purposes of the 2022 Performance Year and each subsequent Performance Year, the amount
      of each Participant’s Mandatory Deferred Compensation shall be $0.

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