Document:

Employment Agreement with Martin B. Anstice, effective January 1, 2012

 Exhibit 10.159 
 Martin B. Anstice Employment Agreement 
 EMPLOYMENT AGREEMENT 

Effective January 1, 2012 
 This Employment Agreement (the “Agreement”) is made and entered into between Martin B. Anstice (the “Executive”) and Lam Research Corporation, a Delaware corporation (the
“Company”). 
 R E C I T A L S 
 A. The Company and Executive desire to enter into this Agreement with respect to the Executive’s employment with the Company, which supersedes the Employment Agreement between the parties effective
July 1, 2009, as amended (the “Original Agreement”). 
 In consideration of the mutual covenants herein
contained, and in consideration of the employment of Executive by the Company, the parties agree as follows: 
 1. Duties and
Scope of Employment. 
 (a) Position. During the Employment Period (as defined in Section 2(a) below), the
Executive shall serve as Chief Executive Officer of the Company and in such capacity the Executive shall perform the duties and responsibilities as the Board of Directors of the Company (the “Board”) may, from time to time, reasonably
assign to Executive, in all cases to be consistent with Executive’s office and position. 
 (b) Executive’s
Obligations. Executive shall comply with all of the Company’s policies and procedures governing employment. During the Employment Period, the Executive shall devote his full business efforts and time to the Company. The foregoing, however,
shall not preclude the Executive from engaging in such activities and services as do not interfere or conflict with his responsibilities to the Company. 
 2. Employment Period. 
 (a) Term. The Company shall employ the
Executive for the period commencing on January 1, 2012, and ending on December 31, 2014 (such period, the “Employment Period”) on the terms and subject to the conditions set forth in this Agreement. 

(b) Termination. This Agreement will terminate at the conclusion of the Employment Period unless the parties agree to extend it.
The Board will provide notice of the Company’s intent whether to renew or enter into a new employment agreement with the Executive twelve (12) months prior to the end of the Employment Period. If the Board provides notice of the
Company’s intent to renew or enter into a new employment agreement with the Executive, the Company and the Executive will enter into good faith negotiations. Neither (i) providing a notice of intent not to renew or enter into a new
employment agreement nor (ii) the failure to renew or enter into a new employment agreement will be considered an Involuntary Termination as defined in Section 7(c). Nothing contained in this Agreement alters the “at will” nature
of the Executive’s employment with the Company. In addition, this Agreement may be terminated prior to expiration of the Employment Period as follows: 

 (i) By the Company. The Company may terminate the Executive’s employment for
Cause (as defined in Section 7(a) below), by giving the Executive thirty (30) days’ advance written notice, subject, however, to the cure provisions of such Section. The Company may terminate the Executive’s employment with the
Company for any reason (other than due to the Executive’s death or Disability, which are addressed in Sections 2(c) and 2(d) below) by giving the Executive ninety (90) days’ advance notice in writing, although the Company may pay to
the Executive the compensation Executive would have otherwise received during such period in lieu of such notice. Unless such termination by the Company is a termination for Cause or due to the Executive’s death or Disability, it shall be
regarded as an Involuntary Termination of the Executive. Any waiver of notice shall be valid only if it is made in writing and expressly refers to the applicable notice requirement of this Section 2(b). 

(ii) By the Executive. The Executive may terminate his employment with the Company by reason of Involuntary Termination (as
defined in Section 7(c) below) by giving the Company thirty (30) days’ advance written notice, subject, however, to the cure provisions of such Section. The Executive may tender his Voluntary Resignation (as defined in this Agreement)
by giving the Company ninety (90) days’ advance written notice, which period may be waived or reduced at the Company’s option, although the Company may choose to pay the Executive, in lieu of such notice period the amounts that would
otherwise be due to the Executive during such period. Any waiver or reduction of notice shall be valid only if it is made in writing and expressly refers to the applicable notice requirement of this Section 2(b). 

(c) Death. The Executive’s employment shall terminate immediately in the event of his death. 

(d) Disability. The Executive’s employment shall terminate in the event of his Disability (as defined in Section 7(b)
below). 
 (e) Priority of Rights and Obligations upon Termination. If any event leading to or permitting termination of
this Agreement, or providing notice thereof, occurs at approximately the same time as any other termination event or during any termination notice period, and those events invoke different notice periods or different severance or other benefit
arrangements, the deadlines, obligations, rights and benefits applicable to the termination event having the highest priority shall control. The priority of termination events (from highest to lowest priority) is as follows: (1) termination for
Cause; (2) Voluntary Resignation; (3) Involuntary Termination; (4) Disability; and (5) death. For example, if Executive gives notice of his Voluntary Resignation and, before the 90 day notice period has expired, he is subject to
an Involuntary Termination, only the rights and benefits available to him for Voluntary Resignation apply since the provisions governing Voluntary Resignation have a higher priority than those applicable to Involuntary Termination. Similarly, if the
Executive has been subject to an Involuntary Termination and dies during the notice period, he shall have the rights and benefits available to his estate as one subject to an Involuntary Termination. Expiration of this Agreement prevails over all
termination events. 

  
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 3. Compensation and Benefits. 

(a) Base Compensation. During the term of this Agreement, the Company shall pay the Executive as compensation for services a base
salary at the annual rate of $665,000. The independent members of the Board, at least annually, will review, and potentially adjust, such base salary on a prospective basis, reasonably taking into account Executive’s performance and prevailing
compensation for executives at similar levels in similar sized companies in the industry. Such salary shall be paid periodically in accordance with normal Company payroll. The annual compensation specified in this Section 3(a) is referred to in
this Agreement as “Base Compensation.” 
 (b) Variable Compensation. Executive shall be entitled to participate
in any short-term or long-term variable compensation plans offered by the Company to its executive officers generally (collectively, such plans are referred to in this Agreement as the “Combined Plans” and which are currently the Annual
Incentive Plan and the Long-Term Incentive Plan, which includes the Multi-Year Incentive Plan and the equity components of the Long-Term Incentive Plan), subject to the generally applicable terms and conditions of the plan in question and to the
determination of the independent members of the Board. 
 (c) Deferred Compensation. The Executive shall be entitled to
participate in the Company’s Elective Deferred Compensation Plan pursuant to the terms thereof. 
 (d) Benefits.
During the Employment Period, the Executive shall be eligible to participate in the benefit plans and compensation programs maintained by the Company of general applicability to other executive officers of the Company, including (without limitation)
retirement plans, savings or profit-sharing plans, deferred compensation plans, supplemental retirement or excess-benefit plans, equity award, life, disability, health, accident and other insurance programs, paid vacations (but accruing at not less
than three weeks per year), and similar plans or programs, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the determination of the independent members of the Board or the Compensation
Committee or any committee administering such plan or program, as appropriate. 
 (e) Reimbursement of Business Expenses.
The Company shall reimburse the Executive for all reasonable and necessary business expenses incurred by the Executive in the performance of his duties hereunder upon proper submission of expense reports in accordance with Company policies regarding
such reimbursement. 
 4. Section 162(m). Executive and the Company agree to use reasonable good faith efforts, to
the extent reasonably practicable and not materially adverse to the Executive, to structure payment of Executive’s compensation from the Company so as to avoid non-deductibility of any such amounts under Section 162(m) of the Internal
Revenue Code (the “Code”) or any successor provision. 
 5. Benefits Upon a Change in Control. 

(a) If a Change in Control (as defined in this Agreement) occurs during the Employment Period, and an Involuntary Termination of
Executive’s employment occurs either in 

  
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contemplation of such Change in Control1 or within twelve (12) months following a Change in
Control2, then: 

(i) Within ten (10) days following the Termination Date, the Company shall pay Executive a lump sum equal to
(A) eighteen (18) months of Base Compensation (without giving effect to any salary reduction program currently in effect), plus (B) an amount equal to the average of the short-term variable compensation plan (currently the Annual
Incentive Plan, and for prior years the annual variable compensation plan called the “MBO”, and together with any future short-term variable compensation plan, collectively hereinafter referred to as the “Short Term Plan”)
payments earned by the Executive over the last five (5) years in which the Executive was employed with the Company on December 31st of such year (the “Five Year Average Amount”), plus (C) a pro-rata amount (based on the number of full
months worked during the calendar year during which the Termination Date occurs) of the Five Year Average Amount. 
 (ii) If at the Termination Date, payment has not been made under the Short Term Plan that was in effect during the calendar year prior to the year in which the Termination Date occurs, the Company shall
pay the Executive, not later than March 15th of the
year in which the Termination Date occurs, the full amount he would have earned under such prior-year plan (based on the performance results achieved under such plan), as if his employment had not been terminated. 

(iii) If the Executive qualifies for participation in the Company’s Executive Retiree Medical Benefit Plan prior to the Termination
Date, then the Executive will receive the benefits he qualifies for under the Executive Retiree Medical Benefit Plan or, if such plan has been terminated prior to the Termination Date, within ten (10) days following the Termination Date, the
Company shall pay the Executive a lump sum amount (the “Medical Plan Payment”) equal to the present value of the benefits for which the Executive qualified prior to the termination of such plan. The present value of such benefits shall be
determined actuarially based on the actual cost of replacing the benefits as of the Termination Date. If the Executive does not qualify for participation in the Executive Retiree Medical Benefit Plan prior to the Termination Date, within ten
(10) days following the Termination Date, the Company shall pay in a lump sum any COBRA premiums the Executive would be required to pay for the COBRA benefits selected by Executive for twelve (12) months after the Executive’s
Termination Date. 
  
  

	1 	 For purposes of this Agreement, “occurring in contemplation of a Change in Control” means an Involuntary Termination occurring within one
(1) month prior to an actual Change in Control. It shall also include any termination if the termination was a condition of a party other than the Company to entry into an agreement, the consummation of which would cause a Change in Control (an
“Acquisition Agreement”), whether or not such person actually enters into such agreement. Finally, it shall also include any Involuntary Termination if the actions constituting grounds for Involuntary Termination were taken at the request
or direction of a person who has entered into an Acquisition Agreement. 

  

	2 	 For purposes of clarity, (1) the Termination Date (as defined in Section 7(d)) applicable to the Involuntary Termination must occur in
contemplation of a Change in Control or (2) notice of the Involuntary Termination, in accordance with Section 9, must be given or received by the Company, as applicable, within twelve (12) months following the Change in Control.

  
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 (iv) The unvested portion(s) of any stock options/Restricted Stock
Units (“RSUs”) that were granted to Executive prior to the Change in Control shall automatically be accelerated in full so as to become completely vested as of the Termination Date. Unless the grant was made prior to July 1, 2009, the
stock options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms or unless they are exchanged for cash in connection with any Change in Control. For
options granted prior to July 1, 2009, the grant’s award agreement shall control how long the options shall remain exercisable3. The Company will issue the shares underlying the RSUs within ten (10) days of the Termination Date. 

(b) In the event of a Change in Control, for any long-term cash-based variable compensation plan (currently the Multi-Year Incentive Plan,
and together with any future long-term cash-based variable compensation plan, hereinafter the “Long Term Cash Plan”) awards outstanding (which currently would include two Long Term Cash Plan performance cycles) at the time of the Change in
Control, performance cycles under such plans shall cease as of the date of the Change in Control. The Company shall pay Executive, subject to the payout dates and restrictions below, all accrued amounts as of the last full completed quarter as of
the date of the Change in Control, under each performance cycle of such plan, plus the Remaining Target Amount for each performance cycle under each such plan (together, the “Payment Amounts”). The Remaining Target Amount shall equal, for
each performance cycle under each plan, the target amount multiplied by the number of quarters in the performance cycle that end after the time of the Change in Control, divided by the total number of quarters in the full performance cycle. Payment
shall be made at the times specified below, and pending payment, the Company shall hold such amount in a book account for the Executive. 
 (i) Change in Control, Involuntary Termination. In the case of a Change in Control where the Executive’s employment terminates due to an Involuntary Termination prior to twelve
(12) months following the Change in Control or in contemplation of a Change in Control, the Payment Amounts shall be paid out to the Executive within ten (10) days following the Termination Date. 

(ii) Change in Control, No Termination. In the case of a Change in Control where the Executive’s employment does not
terminate within twelve (12) months following the Change in Control or in contemplation of a Change in Control, the Executive shall receive the Payment Amounts when ordinarily paid out. For avoidance of doubt, if there are multiple Long Term
Cash Plan performance cycles, portions of the Payment Amounts may be paid in different years, each in accordance with the terms of the relevant performance cycle. 
 (c) No Change in Control benefits under Sections 5(a) or 5(b) will apply if the Change in Control or Involuntary Termination occurs after the Executive has (i) given notice of Voluntary Resignation
or (ii) been given notice of termination for Cause by the Company, unless that notice of termination for Cause is subsequently withdrawn (in writing) by the Company and Executive’s employment does not terminate as a result of such notice.

  
  

	3 	 Generally, option award agreements allow exercise of the option for periods ranging from thirty (30) days to one (1) year after termination
of employment, depending on the option plan and the nature of the termination. 

  
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 (d) If the Company is acquired by another entity in connection with a Change in Control and
there is or will be no market for the Common Stock of the Company, the vesting of all Executive’s stock options/RSUs, granted prior to the Change in Control, will accelerate immediately prior to the Change in Control (and, for stock options, be
immediately exercisable) if the acquiring company does not provide Executive with stock options/RSUs comparable to the unvested stock options/RSUs granted Executive by the Company, regardless of whether the Executive’s employment is terminated.

 (e) These Section 5 benefits upon a Change in Control shall be the sole benefits that the Executive is entitled to under
this Agreement (i.e., the Executive is not also entitled to any additional benefits provided in Section 6(b), below). 
 6. Severance Benefits other than in a Change in Control. 
 (a) Benefits;
Miscellaneous. In the event of any termination of Executive’s employment at any time during the term of this Agreement, (1) the Company shall pay the Executive any unpaid Base Compensation due for periods prior to the Termination Date;
(2) the Company shall pay the Executive all of the Executive’s accrued and unused vacation through the Termination Date; and (3) following submission of proper expense reports by the Executive (or his estate), the Company shall
reimburse the Executive for all expenses reasonably and necessarily incurred by the Executive in connection with the business of the Company. These payments shall be made promptly at the Company’s next scheduled payroll date. 

(b) In the event of a termination other than one described in Section 5, Executive shall be entitled to severance benefits that vary
depending upon the reason for termination. Such benefits shall be as follows (and no others): 
 (i) Voluntary Resignation
Severance Benefits. 
 (A) Base Compensation shall cease on the Termination Date. Executive shall not be entitled to any
further payment pursuant to the Short Term Plan or the Long Term Cash Plan following termination. 
 (B) All medical and health
benefits shall cease on the Termination Date, except as specified in any then existing Executive Retiree Medical Benefit Plan for which Executive qualifies. All Company 401(k) Plan benefits, Elective Deferred Compensation Plan benefits and other
benefits not specifically addressed in this Agreement shall be treated in accordance with the terms of such plans and benefits. 

(C) Stock options will cease to vest on the Termination Date and will be cancelled ninety (90) days after the Termination Date
(unless they are exercised or expire pursuant to their terms before cancellation). RSUs will be cancelled on the Termination Date. 
 (ii) Involuntary Termination Severance Benefits. 
 (A) Within ten
(10) days following the Termination Date, the Company shall pay Executive a lump sum equal to (x) eighteen (18) months of Base 

  
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Compensation (without giving effect to any salary reduction program then in effect), plus (y) an amount equal to the Five Year Average Amount (as defined in Section 5). 

(B) At the time that the Company makes payments to other executive officers under the Short Term Plan that is in effect during the
calendar year in which the Termination Date occurs, the Company shall pay the Executive a pro-rata portion of the amount he would have earned under such plan had his employment continued until the end of such calendar year, such pro-rata portion to
be calculated based on the performance results achieved under such plan and the number of full months elapsed prior to the Termination Date. 
 (C) If at the Termination Date, payment has not been made under the Short Term Plan that was in effect during the calendar year prior to the year in which the Termination Date occurs, the Company shall
pay the Executive, not later than March 15th of the
year in which the Termination Date occurs, the full amount he would have earned under such prior-year plan (based on the performance results achieved under such plan), as if his employment had not been terminated. 

(D) If the Executive qualifies for participation in the Company’s Executive Retiree Medical Benefit Plan prior to the Termination
Date, then the Executive will receive the benefits he qualifies for under the Executive Retiree Medical Benefit Plan, or if such plan has been terminated prior to the Termination Date, within ten (10) days following the Termination Date, the
Company shall pay the Executive the Medical Plan Payment. If the Executive does not qualify for participation in the Executive Retiree Medical Benefit Plan prior to the Termination Date, within ten (10) days following the Termination Date, the
Company shall pay in a lump sum any COBRA premiums the Executive would be required to pay for the COBRA benefits selected by Executive for twelve (12) months after the Executive’s Termination Date. 

(E) For any stock options/RSUs granted to the Executive twelve (12) months or more before the Termination Date,
a number of shares shall vest (and for stock options, become exercisable as of the Termination Date) such that the total number of shares vested on the Termination Date shall equal a pro-rata percentage of the total number of shares subject to such
grant (based on the number of full months worked during the vesting schedule) 4. Unless the grant was made prior to July 1, 2009, the stock options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to
their original terms or unless they are exchanged for cash in connection with any Change in Control. For options granted prior to July 1, 2009, the grant’s award agreement shall control how long the options shall remain exercisable. The
Company will issue the shares underlying the RSUs to the Executive within ten (10) days following the Termination Date. In addition, the independent members of the Board may, in their discretion, accelerate the vesting of additional stock
options or RSUs held by the Executive. 
  
  

	4 	 For example, if a stock option has a four (4) year vesting schedule where 25% of the options vest on each anniversary of the grant date, an
Executive whose Termination Date is twenty seven (27) months and a day after grant will already have vested in 50% of the total option, and will vest in an additional 6.25% (3/48) of the total option by virtue of this section. No
additional vesting shall occur beyond this additional amount. 

  
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 (F) Any Long Term Cash Plan awards, which are accrued as of the last full completed
quarter prior to the Termination Date, shall be paid to the Executive within ten (10) days following the Termination Date. 

(iii) Severance Benefits following a termination for Cause. 

(A) Base Compensation shall cease on the Termination Date. Executive shall not be entitled to any further payment pursuant to the Short
Term Plan or the Long Term Cash Plan following termination. 
 (B) All medical and health benefits shall cease on the
Termination Date, except as specified in any then existing Executive Retiree Medical Benefit Plan for which Executive qualifies. 
 (C) Stock options will cease to vest on the Termination Date and will be cancelled thirty (30) days after the Termination Date (unless they are exercised or expire pursuant to their terms before
cancellation). RSUs will be cancelled on the Termination Date. 
 (iv) Death Severance Benefits. Executive’s
employment shall terminate immediately in the event of his death. 
 (A) At the time that the Company makes payments to other
executive officers under the Short Term Plan that is in effect during the calendar year in which the Termination Date occurs, the Company shall pay the Executive’s estate a pro-rata portion of the amount he would have earned under such plan had
his employment continued until the end of such calendar year, such pro-rata portion to be calculated based on the performance results achieved under such plan and the number of full months elapsed prior to the Termination Date. 

(B) If at the Termination Date, payments have not been made under the Short Term Plan that was in effect during the
calendar year prior to the year in which the Termination Date occurs, the Company shall pay the Executive’s estate, not later than March 15th of the year in which the Termination Date occurs, the full amount he would have earned under such prior-year plan
(based on the performance results achieved under such plan), as if his employment had not been terminated. 
 (C) If the
Executive qualifies for participation in the Company’s Executive Retiree Medical Benefit Plan prior to the Termination Date, then the Executive’s eligible dependents will receive the benefits they qualify for under the Executive Retiree
Medical Benefit Plan, or if such plan has been terminated prior to the Termination Date, within sixty (60) days following the Termination Date, the Company shall pay the eligible dependents the Medical Plan Payment. If the Executive does not
qualify for participation in the Executive Retiree Medical Benefit Plan prior to the Termination Date, within sixty (60) days following the Termination Date, the Company shall pay in a lump sum any COBRA premiums the Executive’s estate
would be required to pay for the COBRA benefits selected by Executive’s estate for Executive’s eligible dependents for twelve (12) months after the Executive’s Termination Date. 

(D) For any stock options/RSUs granted to the Executive before the Termination Date, a number of shares shall vest so that the greater of
(x) 50% of the shares in 

  
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each grant are immediately vested (and, for stock options, become exercisable) or (y) the total number of shares vested (and for stock options, become exercisable) on the Termination Date
shall equal a pro-rata percentage of the total number of shares subject to such grant (based on the number of full months worked during the vesting schedule). Unless the grant was made prior to July 1, 2009, the stock options shall remain
exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms, or unless they are exchanged for cash in connection with any Change in Control. For options granted prior to
July 1, 2009, the grant’s award agreement shall control how long the options shall remain exercisable. The Company will issue the shares underlying the RSUs to the Executive’s estate within ten (10) days following the Termination
Date. In addition, the independent members of the Board may, in their discretion, accelerate the vesting of additional stock options or RSUs held by the Executive. 
 (E) Any Long Term Cash Plan awards, which are accrued as of the last full completed quarter prior to the Termination Date, shall be paid to Executive’s estate within sixty (60) days following
the Termination Date. 
 (v) Disability Severance Benefits. 

(A) At the time that the Company makes payments to other executive officers under the Short Term Plan that is in effect during the
calendar year in which the Termination Date occurs, the Company shall pay the Executive a pro-rata portion of the amount he would have earned under such plan had his employment continued until the end of such calendar year, such pro-rata portion to
be calculated based on the performance results achieved under such plan and the number of full months elapsed prior to the Termination Date. 
 (B) If at the Termination Date, payments have not been made under the Short Term Plan that was in effect during the calendar year prior to the year in which the Termination Date occurs, the Company shall
pay Executive, not later than March 15th of the year
in which the Termination Date occurs, the full amount he would have earned under such prior-year plan (based on the performance results achieved under such plan), as if his employment had not been terminated. 

(C) If the Executive qualifies for participation in the Company’s Executive Retiree Medical Benefit Plan prior to the Termination
Date, then the Executive will receive the benefits he qualifies for under the Executive Retiree Medical Benefit Plan or, if such plan has been terminated prior to the Termination Date, within sixty (60) days following the Termination Date, the
Company shall pay the Executive the Medical Plan Payment. If the Executive does not qualify for participation in the Executive Retiree Medical Benefit Plan prior to the Termination Date, within sixty (60) days following the Termination Date,
the Company shall pay in a lump sum any COBRA premiums the Executive would be required to pay for the COBRA benefits selected by the Executive for twelve (12) months after the Executive’s Termination Date. 

(D) For any stock options/RSUs granted to the Executive before the Termination Date, a number of shares shall vest so that the greater of
(x) 50% of the shares in each grant are immediately vested (and, for stock options, become exercisable) or (y) the total number of shares vested (and for stock options, become exercisable) on the Termination Date

  
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shall equal a pro-rata percentage of the total number of shares subject to such grant (based on the number of full months worked during the vesting schedule). Unless the grant was made prior to
July 1, 2009, the stock options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms, or unless they are exchanged for cash in connection with any
Change in Control. For options granted prior to July 1, 2009, the grant’s award agreement shall control how long the options shall remain exercisable. The Company will issue the shares underlying the RSUs to the Executive within ten
(10) days following the Termination Date. In addition, the independent members of the Board may, in their discretion, accelerate the vesting of additional stock options or RSUs held by the Executive. 

(E) Any Long Term Cash Plan awards which are accrued as of the last full completed quarter prior to the Termination Date, shall be paid
to Executive within sixty (60) days following the Termination Date. 
 7. Definition of Terms. The following terms
referred to in this Agreement shall have the following meanings: 
 (a) Cause. “Cause” shall mean:
(1) Executive’s willful and continued failure to perform the duties and responsibilities of his position after there has been delivered to Executive a written demand for performance from the Board which describes the basis for the
Board’s belief that Executive has not substantially performed his duties and responsibilities and provides Executive with thirty (30) days to take corrective action; (2) Any act of personal dishonesty knowingly taken by Executive in
connection with his responsibilities as an employee of the Company with the intention or reasonable expectation that such action may result in substantial financial enrichment of Executive; (3) Executive’s conviction of, or plea of guilty
or nolo contendere to, a felony; (4) a willful and knowing act by the executive which constitutes gross misconduct; or (5) A willful breach of a material provision of this Agreement by the Executive. Termination for Cause shall not be
deemed to have occurred unless, by the affirmative vote of all of the members of the Board (excluding the Executive and any person who reports to the Executive, if applicable), at a meeting called and held for that purpose (after reasonable notice
to the Executive and his counsel and after allowing the Executive and his counsel to be heard before the Board), a resolution is adopted finding that in the good faith opinion of such Board members the Executive was guilty of conduct set forth in
(1), (2), (3), (4) or (5) of this Section 7(a), specifying the particulars thereof. 
 (b) Disability.
“Disability” shall mean that the Executive is unable to engage in any substantial gainful activity by reasons of any readily determinable physical or mental impairment that can be expected to result in death or can be expected to last for
a continuing period of not less than twelve (12) months. A Disability must be certified by an approved Company physician. The date of Disability is the date on which the Disability is incurred. 

(c) Involuntary Termination. “Involuntary Termination” shall mean: 

(i) a material reduction of the Executive’s duties or responsibilities as Chief Executive Officer (other than for Cause or as a
result of death or Disability); 

  
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 (ii) a material reduction in the Executive’s Base Compensation and benefits package,
other than a reduction in Base Compensation which is part of, and generally consistent with, a general reduction of salaries of all executive officers of the Company and of any party acquiring control of the Company in a Change in Control, or other
than a change in Executive’s benefits package that continues to provide Executive with comparable benefits to those enjoyed prior to the change; 
 (iii) a material reduction by the Company in the Executive’s current Target Total Direct Compensation, other than: (A) any such reduction applicable to all executive officers of the Company and
any party acquiring control of the Company in a Change in Control generally, (B) any such reduction resulting from a drop in the Company’s stock price, or (C) unless in connection with a Change in Control, in which case this clause
(C) shall not apply, any such reduction that is based on a good faith market review of executive compensation conditions and levels (for similar positions in comparable companies) conducted in accordance with the normal compensation evaluation
process applicable to executive officers of the Company generally. For purposes of the foregoing, Target Total Direct Compensation means current annual Base Compensation (determined in the same manner as in Section 7(c)(ii)) plus current annual
benefits plus current annual target amounts under the Combined Plans, and to the extent that Target Direct Compensation includes equity awards, the value of such equity shall be determined at the time of grant based on the total stock compensation
expense (FAS 123R) associated with that award; 
 (iv) the relocation of the Company’s principal executive office to a
location more than fifty (50) miles from its present location but only if the Executive is required to change his principal place of employment to such new location; 
 (v) any termination of the Executive’s employment by or at the request of the Company other than for Cause, Disability or death; 

(vi) the failure of the Company to obtain the assumption of this Agreement by any successors contemplated in Section 8 below; or

 (vii) any material breach by the Company of any material provision of this Agreement; 

subject to the following: (A) None of the foregoing actions shall constitute Involuntary Termination if the Executive has agreed thereto.
(B) The Board providing notice of the Company’s intent not to enter into, renew or extend this Agreement pursuant to Section 2(b) hereof shall not be considered an Involuntary Termination (although any of the foregoing actions which
occurs after the Board provides notice of the Company’s intent not to enter into, renew or extend this Agreement may constitute an Involuntary Termination). (C) Except with respect to an event described in Section 7(c)(v), the
foregoing actions shall constitute Involuntary Termination only if and to the extent that (x) within 90 days of the occurrence of the events giving rise to an Involuntary Termination, the Executive provides written notice to the Company setting
forth in reasonable detail such facts which Executive believes constitute Involuntary Termination, (y) any circumstances constituting Involuntary Termination remain uncured for a period of thirty (30) days following the Company’s
receipt of such written notice, and (z) the Termination Date 

  
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occurs within one hundred and eighty (180) days following the initial existence of the event giving rise to an Involuntary Termination. 

(d) Termination Date. “Termination Date” shall mean: 

(i) In the case of a termination for Cause, the last day of the thirty (30) day notice period, unless the reason for such
termination is cured by the Executive prior to the end of the thirty (30) day period; 
 (ii) In the case of a Company
initiated Involuntary Termination (under Section 2(b)(i) of this Agreement), the last day of the ninety (90) day notice period required under such section, or such earlier date at which the Company waives notice and pays the Executive in
lieu of such notice; 
 (iii) In the case of the Executive’s Voluntary Resignation or of an Involuntary Termination
initiated by the Executive (each under Section 2(b)(ii) of this Agreement), the last day of the applicable notice period required under such section, or such earlier date at which the Company waives notice and pays the Executive in lieu of such
notice; 
 (iv) In the case of Executive’s death, the date of such death; and 

(v) In the case of Executive’s Disability, the date of such Disability. 

Notwithstanding the foregoing, in the event of an Involuntary Termination occurring in contemplation of a Change in Control, if the
Termination Date would otherwise have occurred prior to the Change in Control, the Termination Date shall take place on the date of the Change in Control. If more than one Termination Date may apply, then the priority provisions of Section 2(e)
of this Agreement shall determine which Termination Date controls. The Company and the Executive shall take all steps necessary to ensure that any termination described in this Agreement constitutes a “separation from service” within the
meaning of Section 409A of the Code, and notwithstanding anything to the contrary, the date on which such separation from service takes place shall be the Termination Date. 

(e) Change in Control. “Change in Control” shall mean the occurrence of any of the following events: 

(i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended, but excluding any person or group as such terms is used in Rule 13d-1(b) under the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13-d-3 under said Act), directly or indirectly, of securities of
the Company representing forty percent (40%) or more of the total voting power represented by the Company’s then outstanding voting securities; 
 (ii) A change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall
mean directors who either (A) are directors of the Company as of the effective date of this Agreement, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors
at the time of such 

  
 - 12 -

 
election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors to the
Company); 
 (iii) The stockholders of the Company approve a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior hereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the
Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all the Company’s assets (other than to a subsidiary or subsidiaries); or 

(iv) Any other event as determined by the independent members of the Board, in the sole discretion of the independent members of the
Board. 
 (f) Voluntary Resignation. “Voluntary Resignation” shall mean Executive’s termination of his
employment at any time, for any reason, by the Executive, other than by reason of Involuntary Termination, death or Disability. 

8. Successors. 

(a) Company’s Successors. The Company shall require a successor to the Company (whether direct or indirect and whether by
purchase, lease, merger, consolidation, liquidation or otherwise) or to all or substantially all of the Company’s business and/or assets (each a “Successor Company”) to assume the Company’s obligations under this Agreement and
agree expressly to perform such obligations in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company”
shall include any Successor Company which executes and delivers the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Agreement by operation of law. 

(b) Executive’s Successors. The terms of this Agreement and all rights of the Executive hereunder shall inure to the benefit
of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
 9. Notice. 
 (a) General. Notices and all other communications
contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by Federal Express or a comparable air courier company. In the case of the Executive, notices sent by courier
shall be addressed to him at the home address that he most recently communicated to the Company in writing. In the case of the Company, notices 

  
 - 13 -

 
sent by courier shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Chief Legal Officer. 

(b) Notice of Termination. Any termination by the Company for Cause or by the Executive as a result of a Voluntary Resignation or
any Involuntary Termination shall be communicated by a notice of termination to the other party hereto given in accordance with Section 9(a) of this Agreement. Such notice shall indicate the specific termination provision in this Agreement
relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date. 

10. Non-Compete; Non-Solicit. 
 (a) The parties hereto recognize that the Executive’s services are special and unique and that his level of compensation and the provisions herein for compensation upon Involuntary Termination are
partly in consideration of and conditioned upon the Executive’s not competing with the Company, and that the covenant on his part not to compete and not to solicit as set forth in this Section 10 is essential to protect the business and
goodwill of the Company. 
 (b) The Executive agrees that prior to the Termination Date, the Executive will not either directly
or indirectly, whether as a director, officer, consultant, employee or advisor or in any other capacity (1) render any planning, marketing or other services respecting the creation, design, manufacture or sale of semiconductor manufacturing
equipment and/or software to any business, agency, partnership or entity (“Restricted Business”) other than the Company, or (2) make or hold any investment in any Restricted Business in the United States other than the Company,
whether such investment be by way of loan, purchase of stock or otherwise, provided that there shall be excluded from the foregoing the ownership of not more than 2% of the listed or traded stock of any publicly held corporation. For purposes of
this Section 10, the term “Company” shall mean and include the Company, any subsidiary or affiliate of the Company, any Successor Company and any other corporation or entity of which the Executive may serve as a director, officer or
employee at the request of the Company or any Successor Company. 
 (c) Prior to the Termination Date, and for the period
extending six (6) months thereafter, the Executive will not directly induce or attempt to influence any employee of the Company to leave its employ and join any Restricted Business in or within 50 miles of Fremont, California. 

(d) The Executive agrees that the Company would suffer an irreparable injury if he were to breach the covenants contained in subparagraphs
(b) or (c) and that the Company would by reason of such breach or threatened breach be entitled to injunctive relief in a court of appropriate jurisdiction, and the Executive hereby stipulates to the entering of such injunctive relief
prohibiting him from engaging in such breach. 
 (e) If any of the restrictions contained in this Section 10 shall be deemed
to be unenforceable by reason of the extent, duration or geographical scope or other provisions thereof, then the parties hereto contemplate that the court shall reduce such extent, duration, 

  
 - 14 -

 
geographical scope or other provisions hereof (but only to the extent necessary to render such restrictions enforceable) and then enforce this Section 10 in its reduced form for all purposes
in the manner contemplated hereby. 
 11. Existing Confidentiality and Non-Compete Agreements. 

Executive represents and warrants (1) that prior to the date hereof he has provided the Company with true and complete copies of any
and all written confidentiality and/or non-compete agreements to which Executive is a party as of the date hereof (together with a written description of any such oral agreements), and (2) to the best of Executive’s knowledge, full
compliance with the terms of each such agreement will not materially interfere with Executive’s duties hereunder (except to the extent that Executive reasonably may determine to absent himself from certain Company meetings and communication
during the first year of the Employment Period). The Executive further covenants that he will not willfully and knowingly fail to fully abide by the terms of any and all such agreements and will work in good faith with the Company to avoid any
breach thereof. 
 12. Arbitration. 
 At the option of either party, any and all disputes or controversies whether of law or fact and of any nature whatsoever arising from or respecting this Agreement shall be decided by arbitration under the
rules of the American Arbitration Association in accordance with the rules and regulations of that Association with the exception of any claim for temporary, preliminary or permanent injunctive relief arising from or respecting this Agreement which
may be brought by the Company in any court of competent jurisdiction irrespective of Executive’s desire to arbitrate such a claim. 
 The arbitrator shall be selected as follows. In the event the Company and the Executive agree on one arbitrator, the arbitration shall be conducted by such arbitrator. If the parties cannot agree on an
arbitrator, the Company and the Executive shall each select one independent, qualified arbitrator and the two arbitrators so selected shall select the third arbitrator. The Company reserves the right to object to any individual arbitrator who shall
be employed by or affiliated with a competing organization. 
 Arbitration shall take place in San Jose, California, or any
other location mutually agreeable to the parties. At the request of either party, arbitration proceedings will be conducted in the utmost secrecy; in such case all documents, testimony and records shall be received, heard and maintained by the
arbitrators in secrecy under seal, available for the inspection only by the Company and the Executive and their respective attorneys and their respective experts who shall agree in advance and in writing to receive all such information
confidentially and to maintain such information in secrecy unless and until such information shall become generally known. The arbitrator, who, if more than one, shall act by majority vote, shall have the power and authority to decree any and all
relief of an equitable nature including, but not limited to, such relief as a temporary restraining order, a temporary and/or permanent injunction, and shall also have the power and authority to award damages, with or without an accounting and
costs, provided, that punitive damages shall not be awarded, and provided, further, that the Executive shall be entitled to reimbursement for his reasonable attorney’s fees to the extent he prevails as to

  
 - 15 -

 
the material issues in such dispute. The reimbursement of attorney’s fees shall be made promptly following delivery of an invoice therefor. The decree or judgment of an award rendered by the
arbitrators may be entered in any court having jurisdiction thereof. 
 Reasonable notice of the time and place of arbitration
shall be given to all persons, other than the parties, as shall be required by law, in which case such persons or those authorized representatives shall have the right to attend and/or participate in all the arbitration hearings in such a manner as
the law shall require. 
 13. Excise Tax on Payments. Notwithstanding anything to the contrary contained herein, in the
event that any payment by the Company to or for the benefit of the Executive, whether paid or payable, would be subject to the excise tax imposed by Section 4999 of the Code or any comparable federal, state, or local excise tax (such excise
tax, together with any interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall receive either the full severance amount or a lesser amount that does not trigger an excise tax,
whichever produces a greater after-tax benefit to the Executive, as determined by the Company. 
 14. Miscellaneous
Provisions. 
 (a) No Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment
contemplated by this Agreement, nor shall any such payment be reduced by any earnings that the Executive may receive from any other source. 
 (b) Waiver. No provisions of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an
authorized officer of the Company (other than the Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or
provision or of the same condition or provision at another time. 
 (c) Whole Agreement; Amendment. This Agreement and
the documents expressly referred to herein represent the entire agreement of the parties with respect to the matters set forth herein. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties hereto.
Nothing herein affects the continued enforceability of either the Company’s Employment, Confidential Information and Invention Assignment Agreement previously executed by the Executive, or the Executive’s Indemnification Agreement with the
Company. For the avoidance of doubt, the “Original Agreement” shall be superseded by this Agreement effective January 1, 2012. Any benefit amounts referenced as payable to the Executive pursuant to this Agreement are the sole and
exclusive amounts payable to the Executive for the category of benefit addressed by such amounts; provided, however, that this Agreement shall not limit any right of Executive to receive any payments or benefits under an employee benefit or employee
compensation plan of the Company, initially adopted prior to or after the date hereof, which are expressly contingent thereunder upon the occurrence of a Change in Control (including, but not limited to, the acceleration of any rights or benefits
thereunder). Notwithstanding the foregoing, in no event shall Executive be entitled to any payment or benefit under this Agreement which duplicates a 

  
 - 16 -

 
payment or benefit received or receivable by Executive under any severance or similar plan or policy of Company, and in any such case Executive shall only be entitled to receive the greater of
the two payments. 
 (d) Choice of Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by the laws of the state of California, without regard to conflicts of law provisions thereof. 
 (e)
Severability. If any provision of this Agreement is determined to be invalid or unenforceable, the Agreement shall remain in full force and effect as to the remaining provisions, and the parties shall replace the invalid or unenforceable
provision with one which reflects the parties’ original intent in agreeing to the invalid/unenforceable one. 
 (f) No
Assignment of Benefits. Except as otherwise provided herein, the rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation
of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection (f) shall be void. 

(g) Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes
as may be required to be withheld pursuant to any applicable law or regulation. 
 (h) Section 409A
of the Code. Notwithstanding anything herein to the contrary, if at the time of the Executive’s termination of employment with the Company, the Company has determined that the Executive is a “specified employee” as defined in
Section 409A of the Code and any severance payments and benefits to Executive are considered a “deferral of compensation” under Section 409A of the Code (the “Deferred Payments”), such Deferred Payments that are
otherwise payable within the first six months following the Termination Date will become payable on the first business day of the seventh month following the Executive’s Termination Date, or if earlier the date of the Executive’s death. In
the event that payments under this Agreement are deferred pursuant to this Section 14(h), then such payments shall be paid at the time specified in this Section 14(h) without interest. The Company shall consult with the Executive in good
faith regarding the implementation of the provisions of this Section 14(h) provided, that neither the Company nor any of its employees or representatives shall have any liability to the Executive with respect thereto. Any amount under
this Agreement that satisfies the requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of this Agreement. Any amounts
scheduled for payment hereunder when they are ordinarily paid out or when they are made to other executive officers, will nonetheless be paid to Executive on or before March 15th of the year following the year when the payment is no longer subject to a substantial risk of forfeiture. For purposes
of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments, and references herein to the Executive’s termination of employment shall refer to
Executive’s separation of services with the Company within the meaning of Section 409A of the Code. Notwithstanding anything to the contrary herein, except to the extent any expense, reimbursement or in-kind benefit provided pursuant to
this Agreement does not constitute a 

  
 - 17 -

 
“deferral of compensation” within the meaning of Section 409A of the Code: (x) the amount of expenses eligible for reimbursement or in-kind benefits provided to the Executive
during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to the Executive in any other calendar year, (y) the reimbursements for expenses for which the Executive is entitled to be
reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and (z) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated
or exchanged for any other benefit. 
 (i) Assignment by Company. The Company may assign its rights under this Agreement
to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company, provided, however, that no assignment shall be made if the net worth of the assignee is less than the net worth of
the Company at the time of assignment. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Executive. 

(j) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument. 
 (k) Survival of Obligations. Except as otherwise described
herein, and except to the extent that as of the Termination Date rights to payment hereunder have accrued, the obligations of Sections 7 through 14 shall survive termination of this Agreement. In the event that a binding agreement is reached that
would result in a Change in Control during the Employment Period, Section 5 of this Agreement shall survive with regard to that Change in Control. 
 (l) Company Release. As a condition to the Company’s obligations pursuant to this Agreement, the Executive agrees to execute a release of claims against the Company (the “Release”),
substantially in the form attached hereto as Exhibit A, by the sixtieth (60th) day following the Executive’s Termination Date. If the Company has not received an irrevocable Release by the sixtieth (60th) day following the
Termination Date, the Company shall be under no obligation to make payments or provide benefits under this Agreement; provided such sixty (60) day period shall be tolled during the pendancy of any arbitration proceeding under this Agreement. In
the event one or more of the provisions of the Release should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of the Release, and
the Release shall be construed as if such invalid, illegal or unenforceable provision had never been contained therein. 
 IN WITNESS WHEREOF,
the parties have executed this Agreement. 

  
 - 18 -

			
	LAM RESEARCH CORPORATION
		
	By:	 	/s/    Sarah A. O’Dowd
		 	Sarah A. O’Dowd
	Its:	 	Group Vice President, HR and Chief Legal Officer

 DATED: November 30, 2011 

 

	
	
	/s/    Martin B. Anstice
	Martin B. Anstice
	
	DATED: November 30, 2011

  
 - 19 -

 Martin B. Anstice Employment Agreement 

EXHIBIT A 
 COMPANY RELEASE 

 Martin B. Anstice Employment Agreement 

 
 LAM RESEARCH CORPORATION RELEASE 

This Release (“Release”) constitutes a binding agreement between you,
            [EMP NAME]            , Lam Employee No.
            [EE I.D.]            , and Lam Research Corporation (“Lam” or “the
Company”). Please review the terms carefully. We advise you to consult with an attorney concerning its terms. 
 1. This Release is
provided to Lam pursuant to an Employment Agreement (your “Agreement”) between you and Lam. You understand that if you choose not to sign this Release, as provided in your Agreement Lam has no obligation to make any payments or provide any
benefits provided in your Agreement. 
 2. You understand that your obligations under the Confidential Information and Invention Assignment
Agreement, or similarly titled agreement, you signed at the beginning of your employment with Lam are ongoing and binding and survive the termination of your employment with Lam, regardless of whether you sign this Release. 

3. If you agree to this Release, you will be eligible to receive the payments and benefits provided in your Agreement. You must sign and return
this Release, and it must become irrevocable (as discussed in Sections 4.E. and 8 below), within sixty (60) days of your Termination Date (as defined in your Agreement). You may, at your discretion, sign and return the Release sooner. You are
hereby advised to consider the terms of this Release and consult with an attorney of your choice prior to executing this Release. Lam is under no obligation to pay any amounts or provide any benefits under your Agreement until such release is
irrevocable. Lam will make such payments and provide such benefits under your Agreement as soon as practicable, in accordance with the terms of your Agreement and in accordance with IRC Section 409A and accompanying Treasury Regulations
(although Lam makes no representation about any specific tax treatment applicable to you). Neither Lam nor the Executive shall have the right to accelerate or defer the delivery of any payments or provision of any benefits except as specifically
permitted or required by Section 409A. 
 4. In exchange for and in consideration of the payments and benefits provided for in your
Agreement, you agree to, and agree to abide by, the following terms: 
  

	 	A.	 Release. You hereby waive and release, and promise never to assert, any and all claims, except workers compensation or unemployment compensation
claims, that you have, or may have at any time, against Lam and its predecessors, subsidiaries, related entities, and their officers, directors, shareholders, agents, attorneys, employees, benefit plans, successors, or assigns (collectively
“Released Parties”) at all or, specifically, arising from or related to your employment with Lam and/or the termination of your employment with Lam. These claims include, but are not limited to, all claims arising under federal, state,
and/or local statutory or common law, including, but not limited to, claims of wrongful or constructive discharge or demotion, breach of contract (written, oral or implied), breach of the covenant of good faith and fair dealing, violation of public
policy, defamation, personal injury, emotional distress, claims under Title VII of the 1964 Civil Rights Act, as amended, the California Fair Employment and Housing Act (or comparable provision under any other state’s law), the Equal Pay Act of
1963, California Labor Code Section 1197.5 (or comparable provision under any other state’s law), the Age Discrimination in Employment Act of 1967, as amended, the Older Workers Benefit Protection Act (OWBPA), the Americans with
Disabilities Act (ADA), the Civil Rights Act of 1866, the Family and Medical Leave Act (FMLA), the Worker Adjustment and Retraining Notification (WARN) Act, California Labor Code Section 1400 et seq., and any other laws, regulations, or
ordinances relating to employment or employment discrimination, and the laws of contract and tort, to the full extent permitted by law. You are, through this Release, releasing the Company from any and all claims you may have against the Company,
including claims under the Age Discrimination in Employment Act of 1967, 29 U.S.C. §621, et seq (ADEA) with the exception of (i) your right to receive the payments provided for in, or to enforce, your Agreement and (ii) any claims you
may have 

	 	
pursuant to any written agreement, the Company’s certificate of incorporation or bylaws, or as mandated by statute, to indemnification as a director or officer of the Company; further,
rights or claims under the Age Discrimination in Employment Act that may arise after the date this Agreement is executed are not waived. 

  

	 	B.	Release of Unknown Claims. You agree to waive and release and promise never to assert any claims or potential claims that you might have against the Released
Parties, whether or not you know or might have reason to know of such claims or potential claims or of the facts potentially giving rise to any such claims or potential claims. Specifically, you agree to waive, and by executing this Release do
waive, your rights under section 1542 of the Civil Code of California, or comparable provision of another state’s law, which states: 

 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known to him or her must have
materially affected his or her settlement with the debtor. 
  

	 	C.	 Acknowledgment of 21-Day Consideration Period: If you are 40 years of age or older, you acknowledge and agree that you have been given at least
21 days to consider the terms of this Release before signing it1. You knowingly and voluntarily waive the remainder of the 21-day consideration period, if any, following the date (as indicated below) you sign this Release. You affirm that you have not been asked by
the Company to shorten your time period for consideration of whether to sign this Release. You affirm that the Company has not threatened to withdraw or alter the payments or benefits due to you prior to the expiration of the 21-day period nor has
the Company provided different terms to you because you have decided to sign this Release prior to the expiration of the 21-day consideration period. You understand that by your having waived some portion of the 21-day consideration period, the
Company may expedite the processing of some of the payments or benefits provided to you in reliance upon your signing this Release. 

  

	 	D.	No Re-Start of Consideration Period: You agree that any changes to this Release or to the payments or benefits and terms offered or that may be offered to you
after your initial receipt of this Release, whether any such changes (individually or collectively) are material or immaterial, do not and shall not restart the running of the consideration period. 

 

	 	E.	Right to Revoke: You understand that if you sign this Release, you can change your mind and revoke it within seven days after signing it by returning it with
written revocation notice to the Company in the manner described in the notice provision of your Agreement. You understand that the release and waiver set forth above will not be effective until after this seven-day period has expired.

  

	 	F.	Binding Agreement: You understand that following the seven-day revocation period, this Release will be final and binding. You promise that you will not pursue
any claim that you have settled by this Release. If you break this promise, you agree to pay all of the Company’s costs and expenses (including reasonable attorneys’ fees) related to the defense of any claims, except this promise not to
sue does not apply to claims that you may have under the OWBPA and the ADEA. Although you are releasing claims that you may have under the OWBPA and the ADEA, you understand that you may challenge the knowing and voluntary nature of this release
under the OWBPA and the ADEA before a court, the Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), or any other federal, state or local agency charged with the enforcement of any employment laws. You
understand, however, that if you pursue a claim against the Company under the OWBPA and/or the ADEA, a court has the discretion to determine whether the Company is entitled to restitution, recoupment, or set off (hereinafter “reduction”)
against a monetary award obtained by you in the court proceeding. A reduction never can exceed the amount you recover, or the consideration you received for signing this Release, whichever is less. You also recognize that the Company may be

  
  

	1 	 Insert 45 day Consideration Period in circumstances required by law. 

  
 - 22 -

 entitled to recover costs and attorney’s fees incurred by the Company as specifically
authorized under applicable law. You further understand that nothing in this Release generally prevents you from filing a charge or complaint with or from participating in an investigation or proceeding conducted by the EEOC, NLRB, or any other
federal, state or local agency charged with the enforcement of any employment laws, although by signing this Release you are waiving your right to individual relief based on claims asserted in such a charge or complaint. Nothing in this
Agreement shall be construed to waive any right that is not subject to waiver by private agreement under federal, state or local laws, such as claims for workers compensation or unemployment benefits. 

 

	 	G.	Authorization for Deductions from Paychecks and Other Payments. You hereby authorize Lam to deduct and withhold from your paychecks and from any other payments
of cash compensation due to you, from the date of this Release forward, any and all amounts you may, from time to time, owe to Lam for any reason, including (without limitation) loans or advances to you, reimbursement of paid but unvested signing or
relocation bonuses, amounts due under a promissory note, taxes or tax withholding paid or to be paid by Lam on your behalf. If you owe Lam monies as documented in a promissory note or other written agreement, the repayment terms of that document
will apply. 

  

	 	H.	Confidentiality of Terms of this Release. You agree not to disclose to any other person or entity any information regarding the terms of this Release, or the
fact of its existence, or the amounts of any payments or benefits made to or provided to you, except that you may disclose such information to your immediate family (spouse, children, or parents), attorney, accountant, or other professional advisor
to whom you must make the disclosure in order for such person to render professional services to you, or as you otherwise may be compelled by law. You will instruct any such persons to whom you make such disclosures, however, to maintain the
confidentiality of such information, consistent with your obligations to maintain its confidentiality hereunder. 

  

	 	I.	Non-Solicitation. You agree to comply with the terms set forth in Section 10 of your Agreement. 

 

	 	J.	Non-Disparagement. You hereby agree that you will not disparage, criticize, slander, or libel Lam or any of its products, technologies, policies, actions,
employees, officers, or agents, to any third party or person, including without limitation any supplier, customer, or prospective customer or business partner of Lam. 

 5. To accept this Release, please sign and date it below and provide it to the Company in the manner described in the notice provision of your Agreement. If your Release is not executed, returned
and irrevocable within 60 days from the Termination Date (as defined in your Agreement), the offer of the payments and benefits described in your Agreement shall automatically expire and this offer shall be deemed revoked. 

6. In the event that you breach any of your obligations under this Release or as otherwise imposed by law, Lam will be entitled to recover the payments
and benefits paid under your Agreement and to obtain all other relief provided by law or equity. Lam’s rights and remedies arising hereunder are cumulative of any and all other rights or remedies Lam may have in the event of a breach of this
Release by you. 
 7. By signing this Release, you acknowledge that you have had the opportunity to review this Release carefully with an
attorney of your choice concerning its terms and effect, and that the waivers, settlement, and releases made herein are knowing, voluntary, informed, and consensual. 
 8. You understand that once you have signed this Release, you have an additional seven (7) days to revoke your acceptance by submitting a written notice of your revocation to the Company in the
manner described in the notice provision of your Agreement. If you do not revoke your acceptance within seven (7) days of your acceptance, the Release will be deemed effective, binding and enforceable. Please note that this means your
executed Release must be received by the Chief Legal Officer of the Company, within 53 days of Termination Date (as defined in your Agreement) or the Company shall be under no obligation to make the payments or provide the benefits under your
Agreement. 

  
 - 23 -

 9. This Release shall be construed and enforceable in all respects pursuant to California law,
notwithstanding conflict of laws considerations or the preference, policy or law of any other jurisdiction or forum. Any dispute or action arising from or related to this Release shall be brought in federal or California state court located in the
County of Santa Clara, California, and in no other jurisdiction or venue. The invalidity or unenforceability of any provision(s) of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in
full force and effect. 
 /// 

  
 - 24 -

 I, THE UNDERSIGNED, HAVE BEEN ADVISED IN WRITING THAT I HAVE HAD AT LEAST TWENTY-ONE (21) DAYS TO
CONSIDER THIS RELEASE AND TO CONSULT WITH AN ATTORNEY CONCERNING ITS TERMS AND EFFECT PRIOR TO EXECUTING THIS RELEASE. 
 I, THE
UNDERSIGNED, HAVE READ THIS RELEASE, UNDERSTAND ITS TERMS, AND UNDERSTAND THAT I ENTER THIS RELEASE INTENDING TO AND DO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST LAM RESEARCH CORPORATION TO THE FULL EXTENT PERMITTED BY LAW. I
SIGN THIS RELEASE VOLUNTARILY AND KNOWINGLY. 
  

									
	ACKNOWLEDGED, UNDERSTOOD AND AGREED CORPORATION:	 		 	ON BEHALF OF LAM RESEARCH
			
	 	 		 	 
	[EMP NAME]	 		 	 Sarah A. O’Dowd

Group Vice President, HR & Chief Legal Officer

					
	Date:	 	 	 		 	Date:	 	 

  
 - 25 -Amended and Restated 2008 Stock Omnibus Equity Compensation Plan

 Exhibit 10.1 
 MARSHALL EDWARDS, INC. 
 AMENDED AND RESTATED 

2008 STOCK OMNIBUS EQUITY COMPENSATION PLAN 
 Section 1. Purpose 
 The Plan authorizes the Compensation Committee to
provide Advisors, Employees and Non-Employee Directors that are providing, or have agreed to provide, services to the Company or its Affiliates, who are in a position to contribute to the long-term success of the Company or its Affiliates, with
Grants. The Company believes that this incentive program will cause those Advisors, Employees and Non-Employee Directors to increase their interest in the welfare of the Company and its Affiliates, and aid in attracting, retaining and motivating
Advisors, Employees and Non-Employee Directors of outstanding ability. 
 The Plan was originally effective as of
December 9, 2008 upon approval by the stockholders of the Company. This amendment and restatement is effective as of October 21, 2011; provided that the share increases contemplated under Section 3 will be effective December 1,
2011, subject to approval by the stockholders of the Company 
 Section 2. Definitions 

Capitalized terms used herein shall have the meanings set forth in this Section. 

(a) “Advisor” shall mean advisors who render bona fide services to the Company or its subsidiaries where the services are not
in connection with the offer and sale of securities in a capital-raising transaction and the Advisors do not directly or indirectly promote or maintain a market for the Company’s securities. 

(b) “Affiliate” shall mean any Person which is included as a member with the Company in a controlled group of corporations,
within the meaning of Code section 414(b), or which is a trade or business (whether or not incorporated) included with the Company in a group of trades or business under common control, within the meaning of Code section 414(c); provided,
however, that in applying Code sections 1563(a)(1), (2) and (3) for purposes of determining a controlled group of corporations under Code section 414(b), the language “at least 20 percent” is used instead of “at least
80 percent” each place it appears in Code sections 1563(a)(1), (2) and (3), and in applying Treas. Reg. section 1.414(c)-2 for purposes of determining trades or businesses (whether or not incorporated) that are under common control for
purposes of Code section 414(c), the language “at least 20 percent” is used instead of “at least 80 percent” each place it appears in Treas. Reg. section 1.414(c)-2. 

(c) “Board” shall mean the Board of Directors of the Company. 

(d) “Cause” shall have the meaning ascribed thereto in any effective employment or service agreement between the Company and
the Grantee, or if no employment agreement is in effect that contains a definition of cause, then Cause shall mean a finding by the Compensation Committee, in its sole and absolute discretion, that the Grantee has (i) committed a felony or a
crime involving moral turpitude, (ii) committed any act of gross negligence or fraud, (iii) failed, refused or neglected to substantially perform his duties (other than by reason of a physical or mental impairment) or to implement the
directives of the Company, (iv) materially violated any policy of the Company, or (v) engaged in conduct that is materially injurious to the Company, monetarily or otherwise. 

(e) “Change in Control” shall be deemed to have occurred if: 

(i) Any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becomes a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the voting power of the then outstanding securities of the Company;

  
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provided that a Change in Control shall not be deemed to occur as a result of a transaction in which the Company becomes a subsidiary of another corporation and in which the stockholders of the
Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares entitling such stockholders to more than 50% of all votes to which all stockholders of the parent corporation would be entitled in the
election of directors. 
 (ii) The consummation of (A) a merger or consolidation of the Company with another corporation
where the stockholders of the Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such stockholders to more than 50% of all votes to which all
stockholders of the surviving corporation would be entitled in the election of directors, or where the members of the Board, immediately prior to the merger or consolidation, would not, immediately after the merger or consolidation, constitute a
majority of the board of directors of the surviving corporation, (B) a sale or other disposition of all or substantially all of the assets of the Company, or (C) a liquidation or dissolution of the Company. 

Notwithstanding the foregoing definition of Change in Control, the Compensation Committee may modify the definition of Change in Control for a particular
Grant as it deems appropriate to comply with Code section 409A or otherwise. 
 (f) “Code” shall mean the Internal
Revenue Code of 1986, as amended and the regulations promulgated thereunder. 
 (g) “Company” shall mean Marshall
Edwards, Inc., a corporation organized under the laws of the State of Delaware. 
 (h) “Compensation Committee” shall
mean the members of the Board appointed by the Board to serve as the Compensation Committee with responsibility for the administration of the Plan, or if no such members of the Board are appointed, then the Compensation Committee shall consist of
all of the members of the Board. In any case, the Board shall approve and administer all grants made to Non-Employee Directors. The members of the Board appointed to serve as the Compensation Committee, if applicable, should consist of two or more
Persons who are “outside directors” as defined under Code section 162(m), and related Treasury regulations, and “non-employee directors” as defined under Rule 16b-3 under the Exchange Act. To the extent that the Board or a
subcommittee administers the Plan, references in the Plan to the “Compensation Committee” shall be deemed to refer to the Board or such subcommittee. 
 (i) “Disability” or “Disabled” shall mean a Grantee’s becoming disabled within the meaning of Code section 22(e)(3) or as otherwise determined by the Compensation Committee.

 (j) “Employee” shall mean any individual that is providing, or has agreed to provide, services to the Company or an
Affiliate of the Company as an employee. 
 (k) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 (l) “Exercise Price” shall mean the purchase price of a Share subject to an Option, which shall not be
less than the Fair Market Value of a Share as of the date an Option is granted. 
 (m) “Fair Market Value” of a Share
on any given date, unless the Compensation Committee determines otherwise with respect to a particular Grant, shall mean (i) if the principal trading market for the Shares is a national securities exchange, the last reported sale price during
regular trading hours thereof of a Share on the relevant date or (if there were no trades on that date) the last reported sales price during regular trading hours on the latest preceding date upon which a sale was reported, (ii) if the Shares
are not principally traded on such exchange, the mean between the last reported “bid” and “asked” prices of a Share during regular trading hours on 

  
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the relevant date, as reported on the OTC Bulletin Board, or (iii) if the Shares are not publicly traded or, if publicly traded, are not so reported, the Fair Market Value per share shall be
as determined by the Compensation Committee pursuant to any reasonable valuation method authorized under the Code. 
 (n)
“Grant” shall mean a grant of Options, SARs, Stock Awards, Stock Units or Other Stock-Based Awards under the Plan. 

(o) “Grant Letter” shall mean a letter, certificate or other agreement accepted by the Grantee, evidencing the making of a
Grant hereunder and containing such terms and conditions, not inconsistent with the express provisions of the Plan, as the Compensation Committee shall approve. 
 (p) “Grantee” shall mean an Advisor, Employee or Non-Employee Director made a Grant under the Plan. 
 (q) “ISO” shall mean any Option or portion thereof that meets the requirements of an incentive stock option under Code section 422 and that is designated by the Compensation Committee to be an
ISO. 
 (r) “Non-Employee Director” shall mean a member of the Board who is not an Employee. 

(s) “Nonqualified Option” shall mean any Option or portion thereof that is not an ISO. 

(t) “Options” shall refer to options issued under and subject to the Plan. 

(u) “Other Stock-Based Award” shall mean any Grant based on, measured by or payable in Shares, as described in Section 9.

 (v) “Person” shall mean an individual, partnership, corporation, limited liability company or partnership, trust,
unincorporated organization, joint venture, government (or agency or political subdivision thereof) or any other entity of any kind. 
 (w) “Plan” shall mean this Amended and Restated Marshall Edwards Inc. 2008 Omnibus Equity Compensation Plan as set forth herein and as amended from time to time. 

(x) “SAR” shall mean a stock appreciation right with respect to a Share. 

(y) “Share” shall mean a share of common stock of the Company. 

(z) “Stock Award” shall mean an award of Shares, with or without restrictions. 

(aa) “Stock Unit” shall mean a unit that represents a hypothetical Share. 

Section 3. Shares Available under the Plan 
 (a) Shares Authorized. Subject to the provisions of Section 13, the total number of Shares with respect to which Grants may be made under the Plan shall not exceed 2,500,000. If and to the
extent Options or SARs granted under the Plan terminate, expire or are canceled, forfeited, exchanged or surrendered without having been exercised or if any Stock Awards, Stock Units or Other Stock-Based Awards are forfeited, terminated or otherwise
not paid in full, the Shares subject to such Grants may again be available for purposes of the Plan. Shares surrendered in payment of the Exercise Price of an Option, and Shares withheld or surrendered for payment of taxes, shall not be available
for re-issuance under the Plan. Upon the exercise of an Option through the net exercise procedure under Section 5(d) or upon the exercise of a SAR, then both for purposes of calculating the number of Shares remaining available for issuance
under the Plan and the number of Shares remaining available for exercise under such Option or SAR, the number of such Shares shall be reduced by the 

  
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gross number of Shares for which the Option or SAR is exercised and without regard to any cash settlement of a SAR. Except as provided with respect to cash settlement of SARs, to the extent that
any Grants are paid in cash and not in Shares, any Shares previously subject to such Grants shall again be available for issuance or transfer under the Plan and shall not count against the share limits in this Section 3(a). 

(b) Individual Limits. The maximum aggregate number of Shares that shall be subject to Grants made under the Plan to any
individual during any calendar year shall be 400,000 Shares, subject to adjustment as described in Section 13 below. Shares that shall be subject to Options or SARS made under the Plan to any individual during any calendar year shall not exceed
such number of Shares set forth above in this Section 3(b). 
 Section 4. Administration of the Plan 

(a) Authority of the Compensation Committee. The Plan shall be administered by the Compensation Committee. The Compensation
Committee shall have full and final authority to take the following actions, in each case subject to and consistent with the provisions of the Plan: 
 (i) to select the Advisors, Employees and Non-Employee Directors to whom Grants may be made; 
 (ii) to determine the number of Shares subject to each such Grant; 
 (iii) to
determine the terms and conditions of any Grant made under the Plan; 
 (iv) to determine whether to accelerate the
exercisability of any or all applicable outstanding Grants at any time for any reason; 
 (v) to determine the restrictions or
conditions related to the delivery, holding and disposition of Shares acquired pursuant to a Grant; 
 (vi) to prescribe the
form of each Grant Letter; 
 (vii) to adopt, amend, suspend, waive and rescind such rules and regulations and appoint such
agents as the Compensation Committee may deem necessary or advisable to administer the Plan; 
 (viii) to correct any defect or
supply any omission or reconcile any inconsistency in the Plan and to construe and interpret the Plan and any Grant, Grant Letter or other instrument hereunder; and 
 (ix) to make all other decisions and determinations as may be required under the terms of the Plan or as the Compensation Committee may deem necessary or advisable for the administration of the Plan.

 All Grants shall be made conditional upon the Grantee’s acknowledgement, in writing or by acceptance of the Grant, that
all decisions and determinations of the Compensation Committee shall be final and binding on the Grantee, his or her beneficiaries and any other Person having or claiming an interest under such Grant. 

(b) Manner of Exercise of Compensation Committee Authority. Any action of the Compensation Committee with respect to the Plan
shall be final, conclusive and binding on all Persons, including the Company, its Affiliates, Grantees, or any Person claiming any rights under the Plan from or through any Grantee, except to the extent the Compensation Committee may subsequently
modify, or take further action not inconsistent with, its prior action. If not specified in the Plan, the time at which the Compensation Committee must or may make any determination shall be determined by the Compensation Committee, and any such
determination may thereafter be modified by the Compensation Committee. The express grant of any specific power to the Compensation Committee, and the taking of any action by the Compensation Committee, shall not be construed as limiting any power
or authority of the Compensation Committee. The Compensation Committee may delegate to officers or managers of the Company or any Affiliate of the Company the authority, subject to such terms as the Compensation Committee shall determine, to perform
such functions as the Compensation Committee may determine, to the extent permitted under applicable law. 

  
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 (c) Limitation of Liability. Each member of the Compensation Committee shall be
entitled to, in good faith, rely or act upon any report or other information furnished to him by any officer or other employee of the Company or any of its Affiliates, the Company’s independent certified public accountants or any executive
compensation consultant, legal counsel or other professional retained by the Company to assist in the administration of the Plan. To the fullest extent permitted by applicable law, no member of the Compensation Committee, nor any officer or employee
of the Company acting on behalf of the Compensation Committee, shall be personally liable for any action, determination or interpretation taken or made in good faith with respect to the Plan, and all members of the Compensation Committee and any
officer or employee of the Company acting on its behalf shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action, determination or interpretation. 

Section 5. Options 

The Compensation Committee may grant Options to an Employee, Advisor or member of the Board upon such terms as the Compensation Committee
deems appropriate. The following provisions are applicable to Options: 
 (a) Number of Shares. The Compensation
Committee shall determine the number of Shares that will be subject to each Grant of Options to an Employee, Advisor or member of the Board. 
 (b) Type of Option and Price. 
 (i) The Compensation Committee may grant
ISOs or Nonqualified Stock Options or any combination of the two, all in accordance with the terms and conditions set forth herein. ISOs may be granted only to employees of the Company or its parent or subsidiary corporations, as defined in Code
section 424. Nonqualified Options may be granted to Employees, Advisors or members of the Board. 
 (ii) The Exercise Price of
Shares subject to an Option shall be determined by the Compensation Committee and may be equal to or greater than the Fair Market Value of a Share on the date the Option is granted. However, an ISO may not be granted to an Employee who, at the time
of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company, or any parent or subsidiary corporation of the Company, as defined in Code section 424, unless the Exercise Price per Share is
not less than 110% of the Fair Market Value of a Share on the date of grant. 
 (iii) Each ISO shall provide that, if the
aggregate Fair Market Value of the Shares on the date of the grant with respect to which ISOs are exercisable for the first time by a Grantee during any calendar year, under the Plan or any other stock option plan of the Company or a parent or
subsidiary of the Company, exceeds $100,000, then the Option, as to the excess, shall be treated as a Nonqualified Option. 

(c) Option Termination. Except as provided below, an Option may only be exercised while the Grantee is employed or engaged by the
Company or any Affiliate as an Advisor, Employee or member of the Board. Unless otherwise determined by the Compensation Committee and set forth in a Grant Letter, Options shall terminate on the earliest of: 

(i) the date on which the Grantee is no longer employed or engaged by the Company and any Affiliate on account of the Grantee’s
termination for Cause. In addition, notwithstanding any other provisions of this Section 5, if the Compensation Committee determines that the Grantee has engaged in conduct that constitutes Cause at any time while the Grantee is employed or
engaged by the Company and any Affiliate or after the Grantee’s termination of employment or engagement, any Option held by the Grantee shall immediately terminate and the Grantee shall automatically forfeit all Shares underlying any exercised
portion of an Option for which the Company has not yet delivered the Share certificates, upon refund by the Company of the Exercise Price paid by the Grantee for such Shares. Upon any exercise of an Option, the Company may withhold delivery of Share
certificates pending resolution of an inquiry that could lead to a finding resulting in a forfeiture; 

  
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 (ii) the 91st day following the date the Grantee is no longer employed or engaged by the
Company and any Affiliate for any reason other than Cause, death, or Disability; provided, however, that in all cases the portion of any Option that is not vested on the date of termination of employment or engagement shall terminate
immediately upon such termination; 
 (iii) the first anniversary of the date the Grantee’s employment or engagement by the
Company and any Affiliate terminates on account of the Grantee’s death or Disability; provided, however, that the portion of any Option that is not vested on the date of such termination of employment or engagement shall terminate
immediately upon such termination; 
 (iv) the fifth anniversary of the date of grant as set forth in the Grant Letter;
and 
 (v) cancellation, termination or expiration of the Options pursuant to action taken by the Compensation Committee in
accordance with Section 13. 
 For purposes of the Plan, employment or engagement by the Company and any Affiliate shall
mean employment or service as an Employee, Advisor or member of the Board (so that, for purposes of exercising Options, a Grantee shall not be considered to have terminated his employment or engagement until the Grantee ceases to be an Employee,
Advisor and member of the Board), unless the Compensation Committee determines otherwise. 
 (d) Exercise of Options.
Only the vested portion of any Option may be exercised. A Grantee may exercise an Option that has become exercisable, in whole or in part, by delivering a notice of exercise to the Company. The Grantee shall pay the Exercise Price for an Option as
specified by the Compensation Committee (i) in cash, (ii) unless the Compensation Committee determines otherwise, by delivering Shares owned by the Grantee and having a Fair Market Value on the date of exercise at least equal to the
Exercise Price or by attestation (on a form prescribed by the Compensation Committee) to ownership of Shares having a Fair Market Value on the date of exercise at least equal to the Exercise Price, (iii) by payment through a broker in
accordance with procedures permitted by Regulation T of the Federal Reserve Board, or (iv) by such other method as the Compensation Committee may approve. In addition, in the event the Compensation Committee so determines, to the extent an
Option is at the time exercisable for vested shares of Company Stock, all or any part of that vested portion may be surrendered to the Company for an appreciation distribution payable in Shares with a Fair Market Value at the time of the Option
surrender equal to the dollar amount by which the then Fair Market Value of the Shares subject to the surrendered portion exceeds the aggregate Exercise Price payable for those Shares. Shares used to exercise an Option shall have been held by the
Grantee for the requisite period of time necessary to avoid adverse accounting consequences to the Company with respect to the Option. Payment for the Shares to be issued or transferred pursuant to the Option, and any required withholding taxes,
must be received by the Company by the time specified by the Compensation Committee depending on the type of payment being made, but in all cases prior to the issuance or transfer of such Shares. 

(e) Grants to Non-Exempt Employees. Notwithstanding the foregoing, Options granted to persons who are non-exempt employees under
the Fair Labor Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that such Options may become exercisable, as determined by the Compensation Committee, upon the Grantee’s death,
Disability or retirement, or upon a Change in Control or other circumstances permitted by applicable regulations). 
 Section 6. Stock
Awards 
 The Compensation Committee may issue or transfer Shares to an Employee, Advisor or member of the Board under a
Stock Award, upon such terms as the Compensation Committee deems appropriate. The following provisions are applicable to Stock Awards: 
 (a) General Requirements. Shares issued or transferred pursuant to Stock Awards may be issued or transferred for consideration or for no consideration, and subject to restrictions or no
restrictions, as determined 

  
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by the Compensation Committee. The Compensation Committee may, but shall not be required to, establish conditions under which restrictions on Stock Awards shall lapse over a period of time or
according to such other criteria as the Compensation Committee deems appropriate, including, without limitation, restrictions based upon the achievement of specific performance goals. The period of time during which the Stock Awards will remain
subject to restrictions will be designated in the Grant Letter as the “Restriction Period.” 
 (b) Number of
Shares. The Compensation Committee shall determine the number of Shares to be issued or transferred pursuant to a Stock Award and the restrictions applicable to such Shares. 

(c) Requirement of Employment or Service. If the Grantee is no longer employed or engaged by the Company or any Affiliate during a
period designated in the Grant Letter as the Restriction Period, or if other specified conditions are not met, the Stock Award shall terminate as to all Shares covered by the Grant as to which the restrictions have not lapsed, and those Shares must
be immediately returned to the Company. The Compensation Committee may, however, provide for complete or partial exceptions to this requirement as it deems appropriate. 
 (d) Restrictions on Transfer and Legend on Stock Certificate. During the Restriction Period, a Grantee may not sell, assign, transfer, pledge or otherwise dispose of the Shares of a Stock Award
except under Section 14(b) below. Unless otherwise determined by the Compensation Committee, the Company will retain possession of certificates for Shares of Stock Awards until all restrictions on such Shares have lapsed. Each certificate for a
Stock Award, unless held by the Company, shall contain a legend giving appropriate notice of the restrictions in the Grant. The Grantee shall be entitled to have the legend removed from the stock certificate covering the Shares subject to
restrictions when all restrictions on such Shares have lapsed. The Compensation Committee may determine that the Company will not issue certificates for Stock Awards until all restrictions on such Shares have lapsed. 

(e) Right to Vote and to Receive Dividends. Unless the Compensation Committee determines otherwise, during the Restriction Period,
the Grantee shall have the right to vote Shares of Stock Awards and to receive any dividends or other distributions paid on such Shares, subject to any restrictions deemed appropriate by the Compensation Committee, including, without limitation, the
achievement of specific performance goals. 
 (f) Lapse of Restrictions. All restrictions imposed on Stock Awards shall
lapse upon the expiration of the applicable Restriction Period and the satisfaction of all conditions, if any, imposed by the Compensation Committee. The Compensation Committee may determine, as to any or all Stock Awards, that the restrictions
shall lapse without regard to any Restriction Period. 
 Section 7. Stock Units 

The Compensation Committee may grant Stock Units, each of which shall represent one hypothetical Share, to an Employee, Advisor or member
of the Board, upon such terms and conditions as the Compensation Committee deems appropriate. The following provisions are applicable to Stock Units: 
 (a) Crediting of Units. Each Stock Unit shall represent the right of the Grantee to receive a Share or an amount of cash based on the value of a Share, if and when specified conditions are met. All
Stock Units shall be credited to bookkeeping accounts established on the Company’s records for purposes of the Plan. 
 (b)
Terms of Stock Units. The Compensation Committee may grant Stock Units that are payable if specified performance goals or other conditions are met, or under other circumstances. Stock Units may be paid at the end of a specified performance
period or other period, or payment may be deferred to a date authorized by the Compensation Committee. The Compensation Committee shall determine the number of Stock Units to be granted and the requirements applicable to such Stock Units.

  
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 (c) Requirement of Employment or Service. If the Grantee is no longer employed or
engaged by the Company or any Affiliate prior to the vesting of Stock Units, or if other conditions established by the Compensation Committee are not met, the Grantee’s Stock Units shall be forfeited. The Compensation Committee may, however,
provide for complete or partial exceptions to this requirement as it deems appropriate. 
 (d) Payment With Respect to Stock
Units. Payments with respect to Stock Units shall be made in cash, Shares or any combination of the foregoing, as the Compensation Committee shall determine. 
 Section 8. Stock Appreciation Rights 
 The following provisions are
applicable to SARs: 
 (a) General Requirements. The Compensation Committee may grant SARs to an Employee, Advisor or
member of the Board separately or in tandem with any Option (for all or a portion of the applicable Option). Tandem SARs may be granted either at the time the Option is granted or at any time thereafter while the Option remains outstanding;
provided, however, that, in the case of an ISO, SARs may be granted only at the time of the grant of the ISO. The Compensation Committee shall establish the base amount of the SAR at the time the SAR is granted. The base amount of each
SAR shall be equal to the per Share Exercise Price of the related Option or, if there is no related Option, an amount equal to or greater than the Fair Market Value of a Share as of the date of Grant of the SAR. 

(b) Tandem SARs. In the case of tandem SARs, the number of SARs granted to a Grantee that shall be exercisable during a specified
period shall not exceed the number of Shares that the Grantee may purchase upon the exercise of the related Option during such period. Upon the exercise of an Option, the SARs relating to the Shares covered by such Option shall terminate. Upon the
exercise of SARs, the related Option shall terminate to the extent of an equal number of Shares. 
 (c) Exercisability. A
SAR shall be exercisable during the period specified by the Compensation Committee in the Grant Letter and shall be subject to such vesting and other restrictions as may be specified in the Grant Letter. The Compensation Committee may accelerate the
exercisability of any or all outstanding SARs at any time for any reason. SARs may only be exercised while the Grantee is employed or engaged by the Company or Affiliate or during the applicable period after termination of employment or engagement
as described in Section 5(c) above. A tandem SAR shall be exercisable only during the period when the Option to which it is related is also exercisable. 
 (d) Grants to Non-Exempt Employees. Notwithstanding the foregoing, SARs granted to persons who are non-exempt employees under the Fair Labor Standards Act of 1938, as amended, may not be
exercisable for at least six months after the date of grant (except that such SARs may become exercisable, as determined by the Compensation Committee, upon the Grantee’s death, Disability or retirement, or upon a Change in Control or other
circumstances permitted by applicable regulations). 
 (e) Value of SARs. When a Grantee exercises SARs, the Grantee
shall receive in settlement of such SARs an amount equal to the value of the stock appreciation for the number of SARs exercised. The stock appreciation for a SAR is the amount by which the Fair Market Value of the underlying Share on the date of
exercise of the SAR exceeds the base amount of the SAR as described in subsection (a) above. 
 (f) Form of Payment.
The appreciation in a SAR shall be paid in Shares, cash or any combination of the foregoing, as the Compensation Committee shall determine. For purposes of calculating the number of Shares to be received, Shares shall be valued at their Fair Market
Value on the date of exercise of the SAR. 
 Section 9. Other Stock-Based Awards 

The Compensation Committee may grant Other Stock-Based Awards, which are awards (other than those described in Sections 5, 6, 7 and 8 of
the Plan) that are based on or measured by Shares, to any Employee, 

  
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Advisor or member of the Board, on such terms and conditions as the Compensation Committee shall determine. Other Stock-Based Awards may be awarded subject to the achievement of performance goals
or other conditions and may be payable in cash, Company Stock or any combination of the foregoing, as the Compensation Committee shall determine. 
 Section 10. Dividend Equivalents 
 The Compensation Committee may
grant Dividend Equivalents in connection Stock Units or Other Stock-Based Awards. Dividend Equivalents may be paid currently or accrued as contingent cash obligations and may be payable in cash or Shares, and upon such terms as the Compensation
Committee may establish, including, without limitation, the achievement of specific performance goals. 
 Section 11. Qualified
Performance-Based Compensation 
 The Compensation Committee may determine that Stock Awards, Stock Units, Other Stock-Based
Awards and Dividend Equivalents granted to an Employee shall be considered “qualified performance-based compensation” under Code section 162(m). The following provisions shall apply to Grants of Stock Awards, Stock Units, Other Stock-Based
Awards and Dividend Equivalents that are to be considered “qualified performance-based compensation” under Code section 162(m): 
 (a) Performance Goals. 
 (i) When Stock Awards, Stock Units, Other
Stock-Based Awards or Dividend Equivalents that are to be considered “qualified performance-based compensation” are granted, the Compensation Committee shall establish in writing (i) the objective performance goals that must be met,
(ii) the performance period during which the performance will be measured, (iii) the threshold, target and maximum amounts that may be paid if the performance goals are met, and (iv) any other conditions that the Compensation
Committee deems appropriate and consistent with the Plan and Code section 162(m). 
 (ii) The business criteria may relate to
the Grantee’s business unit or the performance of the Company and its parents and subsidiaries as a whole, or any combination of the foregoing. The Compensation Committee shall use objectively determinable performance goals based on one or more
of the following criteria: stock price, earnings per share, net earnings, operating earnings, earnings before income taxes, EBITDA (earnings before income tax expense, interest expense, and depreciation and amortization expense), return on assets,
shareholder return, return on equity, growth in assets, unit volume, sales or market share, or strategic business criteria consisting of one or more objectives based on meeting specified revenue goals, market penetration goals, geographic business
expansion goals, cost targets or goals relating to acquisitions or divestitures. 
 (b) Establishment of Goals. The
Compensation Committee shall establish the performance goals in writing either before the beginning of the performance period or during a period ending no later than the earlier of (i) 90 days after the beginning of the performance period or
(ii) the date on which 25% of the performance period has been completed, or such other date as may be required or permitted under applicable regulations under Code section 162(m). The performance goals shall satisfy the requirements for
“qualified performance-based compensation,” including the requirement that the achievement of the goals be substantially uncertain at the time they are established and that the goals be established in such a way that a third party with
knowledge of the relevant facts could determine whether and to what extent the performance goals have been met. The Compensation Committee shall not have discretion to increase the amount of compensation that is payable upon achievement of the
designated performance goals. 
 (c) Announcement of Grants. The Compensation Committee shall certify and announce the
results for each performance period to all Grantees after the announcement of the Company’s financial results for the performance period. If and to the extent that the Compensation Committee does not certify that the performance

  
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goals have been met, the grants of Stock Awards, Stock Units, Other Stock-Based Awards and Dividend Equivalents for the performance period shall be forfeited or shall not be made, as applicable.
If Dividend Equivalents are granted as “qualified performance-based compensation” under Code section 162(m), a Grantee may not accrue more than $1,000,000 of such Dividend Equivalents during any calendar year. 

(d) Death, Disability or Other Circumstances. The Compensation Committee may provide that Stock Awards, Stock Units, Other
Stock-Based Awards and Dividend Equivalents shall be payable or restrictions on such Grants shall lapse, in whole or in part, in the event of the Grantee’s death or Disability during the performance period, or under other circumstances
consistent with the Treasury regulations and rulings under Code section 162(m). 
 Section 12. Deferrals 

The Compensation Committee may permit or require a Grantee to defer receipt of the payment of cash or the delivery of Shares that would
otherwise be due to such Grantee in connection with any Stock Units or Other Stock-Based Awards. If any such deferral election is permitted or required, the Compensation Committee shall establish rules and procedures for such deferrals and may
provide for interest or other earnings to be paid on such deferrals. The rules and procedures for any such deferrals shall be consistent with applicable requirements of Code section 409A. 
 Section 13. Adjustment Upon Changes in Capitalization. 
 In the event
any recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, exchange or issuance of Shares or other securities, any stock dividend or other special and nonrecurring dividend or
distribution (whether in the form of cash, securities or other property), liquidation, dissolution, or other similar transactions or events, affects the Shares, then the Compensation Committee shall make such adjustment as is appropriate in order to
prevent dilution or enlargement of the rights of Grantees under the Plan, including adjustment in (i) the number and kind of Shares deemed to be available thereafter for Grants under Section 3, (ii) the number and kind of Shares that
may be delivered or deliverable in respect of outstanding Grants, and (iii) the price per share or the applicable market value of such Grants. In addition, the Compensation Committee shall make such adjustments as are appropriate in the terms
and conditions of, and the criteria included in, Grants (including, without limitation, cancellation of Grants in exchange for the in-the-money value, if any, of the vested portion thereof, cancellation of unvested Grants for no consideration,
cancellation of out-of-the-money Grants for no consideration, substitution of Grants using securities of a successor or other entity, acceleration of the time that Grants expire, or adjustment of performance targets) in recognition of unusual or
nonrecurring events (including, without limitation, a Change in Control or an event described in the preceding sentence) affecting the Company or any Affiliate of the Company or the financial statements of the Company or any Affiliate of the
Company, or in response to changes in applicable laws, regulations or accounting principles. Any adjustments to outstanding Grants shall be consistent with Code section 409A or 424, to the extent applicable. Any adjustments determined by the
Compensation Committee shall be final, binding and conclusive. 
 Section 14. Restrictions on Shares. 

(a) Restrictions on Issuing Shares. No Shares shall be issued or transferred under the Plan unless and until all applicable legal
requirements have been complied with to the satisfaction of the Compensation Committee. The Compensation Committee shall have the right to condition any Grant on the Grantee’s undertaking in writing to comply with such restrictions on any
subsequent disposition of the Shares issued or transferred thereunder as the Compensation Committee shall deem necessary or advisable as a result of any applicable law, regulation or official interpretation thereof. 

(b) Transfer Restrictions. 
 (i) Nontransferability of Options. Except as provided below, only the Grantee may exercise rights under a Grant during the Grantee’s lifetime. A Grantee may not transfer those rights except
(A) by will or by the 

  
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laws of descent and distribution or (B) with respect to Grants other than ISOs, pursuant to a domestic relations order. When a Grantee dies, the personal representative or other Person
entitled to succeed to the rights of the Grantee may exercise such rights. Any such successor must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Grantee’s will or under the applicable laws of
descent and distribution. 
 (ii) Transfer of Nonqualified Stock Options. Notwithstanding (i) above, the
Compensation Committee may provide, in a Grant Letter, that a Grantee may transfer Nonqualified Options to family members, or one or more trusts or other entities for the benefit of or owned by family members, consistent with the applicable
securities laws, according to such terms as the Compensation Committee may determine; provided that the Grantee receives no consideration for the transfer of the Nonqualified Option and the transferred Nonqualified Option shall continue to be
subject to the same terms and conditions as were applicable to the Nonqualified Option immediately before the transfer. 
 (c)
ISO Notice. A Grantee shall notify the Company of any disposition of Shares acquired upon exercise of an ISO if such disposition occurs within one year of the date of such exercise or within two years of the date of grant of such ISO. The
Company may impose such procedures as it determines may be necessary to ensure that such notification is made. 
 (d)
Requirements for Issuance or Transfer of Shares. No Shares shall be issued or transferred in connection with any Grant made hereunder unless and until all legal requirements applicable to the issuance or transfer of such Shares have been
complied with to the satisfaction of the Compensation Committee. The Compensation Committee shall have the right to condition any Grant on the Grantee’s undertaking in writing to comply with such restrictions on his or her subsequent
disposition of the Shares as the Compensation Committee shall deem necessary or advisable, and certificates representing such Shares may be legended to reflect any such restrictions. Certificates representing Shares issued or transferred under the
Plan may be subject to such stop-transfer orders and other restrictions as the Compensation Committee deems appropriate to comply with applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon.

 Section 15. Withholding of Taxes. 
 All Grants made under the Plan shall be subject to applicable federal (including FICA), state and local tax withholding requirements. The Company may require that the Grantee or other Person receiving or
exercising Grants pay to the Company or any Affiliate the amount of any federal, state or local taxes that the Company or any Affiliate is required to withhold with respect to such Grants, or the Company or any Affiliate may deduct from other wages
paid by the Company or any Affiliate the amount of any withholding taxes due with respect to such Grants. If the Compensation Committee so permits, a Grantee may elect to satisfy the applicable tax withholding obligation with respect to a Grant by
having Shares withheld up to an amount that does not exceed the Grantee’s minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in a form and manner prescribed by the
Compensation Committee and may be subject to the prior approval of the Compensation Committee. 
 Section 16. Consequences of a Change
in Control. 
 (a) Notice and Acceleration. Unless the Compensation Committee determines otherwise, effective upon
the date of the Change in Control, (i) all outstanding Options and SARs shall automatically accelerate and become fully exercisable, (ii) the restrictions and conditions on all outstanding Stock Awards shall immediately lapse, and
(iii) all Stock Units, Other Stock-Based Awards and Dividend Equivalents shall become fully vested and shall be paid at their target values, or in such greater amounts as the Compensation Committee may determine. 

(b) Other Alternatives. Notwithstanding the foregoing, in the event of a Change in Control, in addition to the actions described
in Section 13, the Compensation Committee may take one or more of the following actions with respect to any or all outstanding Grants: the Compensation Committee may (i) require that Grantees

  
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surrender their outstanding vested Options and SARs in exchange for one or more payments by the Company, in cash or Shares as determined by the Compensation Committee, in an amount equal to the
amount by which the then Fair Market Value of the Shares subject to the Grantee’s unexercised, vested Options and SARs exceeds the Exercise Price of the vested Options or the base amount of the vested SARs, as applicable, (ii) provide for
the cancellation of unvested Grants for no consideration, (iii) provide for the cancellation of out-of-the-money Grants for no consideration, (iv) after giving Grantees an opportunity to exercise their outstanding Options and SARs,
terminate any or all unexercised Options and SARs at such time as the Compensation Committee deems appropriate, or (v) determine that outstanding Options and SARs that are not exercised shall be assumed by, or replaced with comparable options
or rights by, the surviving corporation, (or a parent or subsidiary of the surviving corporation), and other outstanding Grants that remain in effect after the Change in Control shall be converted to similar grants of the surviving corporation (or a
parent or subsidiary of the surviving corporation). Such surrender or termination shall take place as of the date of the Change in Control or such other date as the Compensation Committee may specify. 

Section 17. General Provisions 
 (a) Grant Letter. Each Grant shall be evidenced by a Grant Letter. The terms and provisions of such Grant Letters may vary among Grantees and among different Grants made to the same Grantee.

 (b) No Right to Employment. The making of a Grant in any year shall not give the Grantee any right to similar grants
in future years, any right to continue such Grantee’s employment relationship with the Company or its Affiliates, or, until Shares are issued, any rights as a stockholder of the Company. All Grantees shall remain subject to discharge to the
same extent as if the Plan were not in effect. For purposes of the Plan, a sale of any Affiliate of the Company that employs or engages a Grantee shall be treated as the termination of such Grantee’s employment or engagement, unless the Grantee
shall otherwise continue to provide services to the Company or another subsidiary of the Company as an employee or director. 

(c) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Grant. Except as otherwise
provided under the Plan, the Compensation Committee shall determine whether cash, other awards or other property shall be issued or paid in lieu of such fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or
otherwise eliminated. 
 (d) No Funding. No Grantee, and no beneficiary or other Persons claiming under or through the
Grantee, shall have any right, title or interest by reason of any Option to any particular assets of the Company or Affiliates of the Company, or any Shares allocated or reserved for the purposes of the Plan or subject to any Grant except as set
forth herein. The Company shall not be required to establish any fund or make any other segregation of assets to assure satisfaction of the Company’s obligations under the Plan. 

(e) Governing Law; Jurisdiction. The Plan shall be governed by and construed in accordance with the laws of the State of Delaware,
without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. To the
extent the Grantee is a party to an employment agreement with the Company or any of its subsidiaries that provides for binding arbitration of employment disputes, then any disputes between the Company and such Grantee arising under the Plan shall be
arbitrated in accordance with the procedures set forth in such employment agreement. 
 (f) Compliance with Law. The
Plan, the exercise of Options and SARs and the obligations of the Company to issue or transfer Shares under Grants shall be subject to all applicable laws and regulations, and to approvals by any governmental or regulatory agency as may be required.
With respect to Persons subject to section 16 of the Exchange Act, it is the intent of the Company that the Plan and all transactions under the Plan comply with all applicable provisions of Rule 16b-3 or its successors under the Exchange Act. In
addition, it is the intent of the Company that ISOs comply with the applicable provisions of Code section 422, that the Plan comply with the 

  
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applicable provisions of Code section 162(m) and that, to the extent applicable, Grants be exempt from or comply with the requirements of Code section 409A. Notwithstanding the foregoing, the
Committee makes no representation that the Grants awarded under the Plan shall be exempt from or comply with Code section 409A and makes no undertaking to preclude Code section 409A from applying to Grants awarded under the Plan. To the extent that
any legal requirement of section 16 of the Exchange Act or Code sections 422, 162(m) or 409A as set forth in the Plan ceases to be required under section 16 of the Exchange Act or Code sections 422, 162(m) or 409A, that Plan provision shall cease to
apply. To the extent applicable, if on the date of a Grantee’s “separation from service” (as such term is defined under Code section 409A), Shares (or shares of any other company required to be aggregated with the Company for purposes
of Code section 409A and its corresponding regulations) are publicly-traded on an established securities market or otherwise and the Grantee is a “specified employee” (as such term is defined in Code section 409A(a)(2)(B)(i) and its
corresponding regulations) as determined by the Committee (or its delegate) in its discretion in accordance with the requirements of Code sections 409A and 416, then all Grants that are deemed to be deferred compensation subject to the requirements
of Code section 409A and payable within six months following such Grantee’s “separation from service” shall be postponed for a period of six months following the Grantee’s “separation from service” with the Company. The
Compensation Committee may revoke any Grant if it is contrary to law or modify a Grant to bring it into compliance with any valid and mandatory government regulation. The Committee may, in its sole discretion, agree to limit its authority under this
Section 
 (g) Grants made in Connection with Corporate Transactions and Otherwise. Nothing contained in the Plan shall
be construed to (i) limit the right of the Compensation Committee to make Grants under the Plan in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business or assets of any corporation, firm or
association, including Grants to employees thereof who become Employees, or (ii) limit the right of the Company to grant stock options or make other awards outside of the Plan. The Compensation Committee may make a Grant to an employee of
another corporation who becomes an Employee by reason of a corporate merger, consolidation, acquisition of stock or property, reorganization or liquidation involving the Company, in substitution for awards made by such corporation. Notwithstanding
anything in the Plan to the contrary, the Compensation Committee may establish such terms and conditions of the new Grants as it deems appropriate, including setting the Exercise Price of Options at a price necessary to retain for the Grantee the
same economic value as the prior options. 
 (h) Application of Company Clawback Policy. All Grants under the Plan
are subject to the applicable provisions of the Company’s clawback or recoupment policy approved by the Board, as such policy may be in effect from time to time. 
 Section 18. Amendment or Termination. 
 (a) Amendment. The
Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without stockholder approval if such approval is required in order to comply with the Code or other applicable law, or to comply with
applicable stock exchange requirements. 
 (b) No Repricing Without Stockholder Approval. Notwithstanding anything in the
Plan to the contrary, the Compensation Committee may not reprice Options or SARs, nor may the Board amend the Plan to permit repricing of Options or SARs, unless the stockholders of the Company provide prior approval for such repricing. The term
“repricing” shall have the meaning given that term in accordance with the applicable stock exchange in which such shares of Company Stock are registered, as in effect from time to time; provided that an adjustment to an Option or SAR
pursuant to Section 13 above shall not constitute a repricing of the Option or SAR. 
 (c) Stockholder Re-Approval
Requirement. If Stock Awards, Stock Units, Other Stock-Based Awards or Dividend Equivalents are granted as “qualified performance-based compensation” under Section 11 above, the Plan must be reapproved by the stockholders no later
than the first stockholders meeting that occurs in the fifth year following the year in which the stockholders previously approved the provisions of Section 11, if required by Code section 162(m) or the regulations thereunder. 

  
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 (d) Termination of Plan. The Plan shall terminate on December 8, 2018, unless
the Plan is terminated earlier by the Board or is extended by the Board with the approval of the stockholders. 
 (e)
Termination and Amendment of Outstanding Grants. A termination or amendment of the Plan that occurs after a Grant is made shall not materially impair the rights of a Grantee unless the Grantee consents or unless the Compensation Committee
acts under Section 17(f) above. The termination of the Plan shall not impair the power and authority of the Compensation Committee with respect to an outstanding Grant. Whether or not the Plan has terminated, an outstanding Grant may be
terminated or amended under Section 17(f) above or may be amended by agreement of the Company and the Grantee consistent with the Plan. 

  
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