Document:

Amended & Restated Equity Incentive Plan

 Exhibit 10.4 

AMENDED AND RESTATED 

API TECHNOLOGIES CORP. 

2006 EQUITY INCENTIVE PLAN 

1. PURPOSE. 
 The purpose
of the API Technologies Corp. 2006 Equity Incentive Plan (the “Plan”) is to advance the interests of API Technologies Corp., f/n/a as API Nanotronics Corp. and Rubincon Ventures Inc. (the “Company”) and its stockholders by
providing Directors, Consultants and those key employees of the Company and its Subsidiaries and Affiliates, upon whose judgment, initiative and efforts the successful conduct of the business of the Company and its Subsidiaries and Affiliates
largely depends, with additional incentive to perform in a superior manner. A purpose of the Plan also is to attract and retain personnel of sufficient experience and ability to the service of the Company and its Subsidiaries and Affiliates,
and to reward such individuals for achievement of corporate and individual performance goals. 
 2. DEFINITIONS. 

(a) “Affiliate” means an affiliate as that term is defined in Rule 12b-2 of the General Rules and Regulations of the Exchange Act.

 (b) “Award” means a Stock Grant or a grant of Non-statutory Stock Options or Incentive Stock Options pursuant to the provisions of
this Plan. 
 (c) “Board of Directors” or “Board” means the board of directors of the Company. 

(d) “Code” means the Internal Revenue Code of 1986, as amended. 

(e) “Change in Control” of the Company shall have occurred when (i) any “person”, as the term is used in Section 3 of the
Exchange Act (other than a Company employee benefit plan) is or becomes the “beneficial owner” as defined in Rule 16a-1 under the Exchange Act, directly or indirectly, of securities of the Company representing 50% or more of the
Company’s outstanding securities ordinarily having the right to vote in the election of directors; (ii) individuals who constitute the Board (the “Incumbent Board”) immediately following the closing of the Company’s
transaction with API Electronics Group Corp. (“API”), cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at
least three-quarters of the directors comprising the Incumbent Board shall be for purposes of this clause (ii) considered as though he or she were a member of the Incumbent Board; (iii) consummation of a plan of reorganization, merger, or
consolidation, in which the stockholders of the Company own less than 50% of the outstanding voting securities of the surviving entity; or (iv) a sale of substantially all of the Company’s assets, a liquidation or dissolution of the
Company or a similar transaction. Notwithstanding the foregoing, the consummation of the transactions contemplated by the Combination Agreement between the Company and API shall not constitute a Change in Control. 

(f) “Committee” means the Compensation Committee of the Board, consisting of two or more Directors appointed by the Board pursuant to
Section 3 hereof who are “non-employee directors,” as defined in Rule 16b-3 promulgated by the SEC under the Exchange Act and “outside directors” as defined in Treas. Reg. 1.162-27 promulgated under the Code, and if
there is no Compensation Committee fitting such requirements, the Committee shall be the Board of Directors of the Company. 
 (g) “Common
Stock” means the Common Stock of the Company, $.001 par value per share. 
 (h) “Consultant” means an individual, corporation,
partnership, limited liability company or other entity providing services to the Company in an independent contractor capacity. 
 (i)
“Date of Grant” means the date an Award is effective pursuant to the terms hereof. 
 (j) “Director” means a Director of the
Company or a Subsidiary or Affiliate of the Company who is not also an Employee. 

 (k) “Disability” means disability as defined in Code Section 409A. 

(l) “Employee” means any person who is employed by the Company or a Subsidiary or Affiliate of the Company on a full-time or part-time basis.

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

(n) “Fair Market Value” shall mean, as of any date, (i) the closing price of the Common Stock on the principal national stock exchange on
which the shares are listed on such date or, if shares were not traded on such date, then on the next preceding trading day during which a sale occurred; or (ii) if such stock is not listed on an exchange but is quoted on NASDAQ or a successor
quotation system, (1) the last sales price (if the stock is then listed as a National Market Issue under the NASD National Market System) or (2) the mean between the closing representative bid and asked prices (in all other cases) for the
stock on such date as reported by NASDAQ or such successor quotation system; or (iii) if such stock is not listed on an exchange and not quoted on NASDAQ or a successor quotation system, the mean between the closing bid and asked prices for the
stock on such date as quoted on the OTC Bulletin Board or such other market as the Board deems appropriate to use; or (iv) if the Common Stock is not publicly traded, the fair market value established by the Committee acting in good faith
applying a consistent methodology for all Awards. 
 (o) “Incentive Stock Option” means an Option granted by the Committee to a
Participant, which Option is designated as an Incentive Stock Option pursuant to Section 9 of this Plan. 
 (p) “Investor Relations
Activities” means any activities, by or on behalf of the Company that promotes or reasonably could be expected to promote the purchase or sale of securities of the Company, but does not include: 

(a) the dissemination of information provided, or records prepared, in the ordinary course of business of the Company; 

(i) to promote the sale of products or services of the Company, or; 

(ii) to raise public awareness of the Company, that cannot reasonably, be considered to promote the purchase or sale of
securities of the Company; 
 (b) activities or communications necessary to comply with the requirements of, 

 

	 	(i)	any applicable Securities Laws; 

  

	 	(ii)	any requirements of any national or foreign securities exchange or the by-laws, rules or other regulatory instruments of any other self regulatory body or exchange
having jurisdiction over the Company; 

 (c) communications by a publisher of, or writer for, a newspaper, magazine
or business or financial publication, that is of general and regular paid circulation, distributed only to subscribers to it for value or to purchasers of it, if, 
  

	 	(i)	the communication is only through the newspaper, magazine or publication, and 

 

	 	(ii)	the publisher or writer receives no commission or other consideration other than for acting in the capacity of publisher or writer; or 

(d) activities or communications that may be otherwise specified by any national or foreign securities exchange. 

(q) “Non-statutory Stock Option” means an Option granted to a Participant and which is not an Incentive Stock Option. 

(r) “Option” means an Award granted under Section 8 or Section 9 of this Plan. 

 

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 (s) “Participant” means an Employee of the Company or a Subsidiary or Affiliate chosen by the
Committee to participate in the Plan, a Director of the Company or a Subsidiary or Affiliate of the Company chosen by the Committee to participate in the Plan or a Consultant to the Company or a Subsidiary or Affiliate of the Company chosen by the
Committee to participate in the Plan. 
 (t) “Regulatory Authorities” means all national and foreign securities exchanges, facilities
on which the Company’s securities are listed or quoted, all federal, state and foreign securities commissions or similar securities regulatory bodies having jurisdiction over the Company and all self-regulatory organizations that have
jurisdiction over the Company. 
 (u) “SEC” means the U.S. Securities and Exchange Commission. 

(v) “Securities Laws” means securities legislation, securities laws, securities regulations and securities rules, as amended, and the
securities related policies, notices, instruments and orders in force from time to time that govern or are applicable to the Company. 
 (w)
“Stock Grant” means a grant of shares of Common Stock accompanied by such restrictions as may be determined by the Committee under Section 7 of this Plan. 

(x) “Subsidiary” means a corporation, domestic or foreign, of which not less than 50% of the voting shares are held by the Company or a
subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary. 
 (y)
“Termination for Misconduct” means the termination of a Participant for gross negligence, commission of a felony or material violation of any established Company policies. 

3. ADMINISTRATION. 
 3.1
General. The Plan shall be administered by the Committee. The members of the Committee shall be appointed by the Board. The Committee shall act by vote of a majority of its members or unanimous written consent. The Committee is
authorized, subject to the provisions of the Plan, to establish such rules and regulations as it deems necessary for the proper administration of the Plan and to make whatever determinations and interpretations in connection with the Plan it
deems necessary or advisable with respect to Participants. Subject to the limitations of the Plan and the ultimate authority of the Board, the Committee shall have the sole and complete authority to: (i) select Participants, (ii) grant
Options (as defined in Article IV below) to Participants in such forms and amounts as it shall determine, (iii) impose such limitations, restrictions and conditions upon such Options as it shall deem appropriate, (iv) interpret the
Plan and adopt, amend and rescind administrative guidelines and other rules and regulations relating to the Plan, (v) correct any defect or omission or reconcile any inconsistency in the Plan or in any Option granted hereunder and
(vi) make all other determinations and take all other actions necessary or advisable for the implementation and administration of the Plan. All determinations and interpretations made by the Committee shall be binding and conclusive on such
Participants and on their legal representatives and beneficiaries. In determining the number of shares of Common Stock with respect to which Options and Stock Grants are exercisable, fractional shares will be rounded up to the nearest whole
number if the fraction is 0.5 or higher, and down if it less. 
 3.2 Limitation on Liability. No member of the Committee
shall be liable for any action or determination made in good faith with respect to the Plan, any rule, regulation or procedure adopted by it pursuant thereto or any Awards granted under it. If a member of the Committee is a party or is
threatened to be made a party to any threatened, pending or contemplated action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of anything done or not done by him or her in such capacity under or with
respect to the Plan, the Company shall indemnify such member against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or
proceeding if he or she acted in good faith and in a manner reasonably believed to be in the best interests of the Company, and its Subsidiaries and Affiliates and, with respect to any criminal proceeding, had no reasonable cause to believe his
conduct was unlawful. 
  

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 4. TYPES OF AWARDS. 

Awards under the Plan may be granted in any one or a combination of: 

(a) Stock Grants; 

(b) Non-statutory Stock Options; and 

(c) Incentive Stock Options; 

as defined in paragraphs 7, 8 and 9 of the Plan. 

The Committee shall, in its discretion, determine from time to time which Participants will be granted Awards under the Plan, the number
of shares of Common Stock subject to each Award, whether each Option will be an Incentive Stock Option or a Non-statutory Stock Option (except that Incentive Stock Options may not be awarded to Consultants or Directors), the exercise price of an
Option and the restrictions, if any, which will be applicable to each Stock Grant. In making all such determinations, the Committee shall take into account the duties, responsibilities and performance of each respective Participant, his or her
present and potential contributions to the growth and success of the Company, his or her compensation and such other factors as the Committee shall deem relevant to accomplishing the purposes of the Plan. 

No Participant shall have any voting or dividend rights or other rights of a stockholder in respect of any shares of Common Stock covered
by an Option prior to the time the shares have been issued to the Participant. 
 5. STOCK SUBJECT TO THE PLAN. 

Subject to adjustment as provided in Section 15, the maximum number of shares reserved for Stock Grants and for purchase pursuant to
the exercise of Options granted under the Plan is eight million five hundred thousand (8,500,000) shares of Common Stock. The maximum aggregate number of shares that may be issued under the Plan through Incentive Stock Options is eight
million five hundred thousand (8,500,000). 
 The shares of Common Stock to be subject to the Plan may be either authorized but
unissued shares or shares previously issued and reacquired by the Company. To the extent that the Plan provides for the issuance of stock certificates with respect to Common Stock, the Company may, in lieu thereof, record the shares on a book
entry account maintained by the Company’s transfer agent. To the extent that Options are granted and Stock Grants are made under the Plan, the shares underlying such Options and Stock Grants will be unavailable for future grants under the
Plan except that, to the extent that the Options and Stock Grants granted under the Plan terminate, expire, are canceled or are forfeited without having been exercised, new Awards may be made with respect to such shares. 

6. ELIGIBILITY. 

Officers and other Employees (including Employees who also are Directors of the Company or its Subsidiaries or Affiliates) shall be
eligible to receive Stock Grants, Incentive Stock Options and Non-statutory Stock Options under the Plan. Directors and Consultants shall be eligible to receive Stock Grants and Non-statutory Stock Options under the Plan. 

7. STOCK GRANTS. 
 7.1
General Terms. Each Stock Grant may be accompanied by such restrictions, or may be made without any restrictions, as may be determined in the discretion of the Committee. Such restrictions may include, without limitation,
requirements that the Participant remain in the continuous employment of the Company or its Subsidiaries or Affiliates for a specified period of time, or that the Participant meet designated individual performance goals, or that the Company and/or
one or more of its Subsidiaries or Affiliates meet designated performance goals. 
 7.2 Issuance Procedures. A stock
certificate representing the number of shares of Common Stock covered by a Stock Grant shall be registered in the Participant’s name and may be held by the Participant; provided however, if a Stock Grant is subject to certain restrictions, the
shares of Common Stock covered by such Stock Grant shall be registered in the Participant’s name and held in custody by the Company. Unless the Committee determines 

 

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otherwise, a Participant who has been awarded a Stock Grant shall have the rights and privileges of a stockholder of the Company as to the shares of Common Stock covered by a Stock Grant,
including the right to receive dividends and the right to vote such shares. None of the shares of Common Stock covered by the Stock Grant may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of prior to the expiration
or satisfaction of any applicable restrictions or performance requirements. All of the shares of Common Stock covered by a Stock Grant shall be forfeited and all rights of a Participant who has been awarded such Stock Grant to such shares shall
terminate without further obligation on the part of the Company in the event that any applicable restrictions or performance requirements do not expire or are not satisfied. Upon forfeiture of shares of Common Stock, such shares shall be
transferred to the Company without further action by the Participant. Upon the expiration or satisfaction of any applicable restrictions, whether in the ordinary course or under circumstances set forth in Section 7.3, certificates
evidencing shares of Common Stock subject to the related Stock Grant shall be delivered to the Participant, or the Participant’s beneficiary or estate, as the case may be, free of all such restrictions. 

7.3 Accelerated Vesting. 

(a) Termination of Service. If a Participant terminates service prior to vesting in any Stock Grant, all
outstanding unvested Stock Grants shall be forfeited by such Participant; provided, however, that vesting may be accelerated in the sole discretion of the Committee. 

(b) Change in Control. The vesting of all or part of an outstanding Stock Grant may be accelerated, in the
sole discretion of the Board, in the event there is a Change in Control of the Company. 
 8. NON-STATUTORY STOCK OPTIONS. 

8.1 Grant of Non-statutory Stock Options. 

(a) Grants to Employees, Consultants and Directors. The Committee may, from time to time, grant Non-statutory
Stock Options to Participants. 
 (b) Terms of Non-Statutory Options. Non-statutory Stock Options
granted under this Plan are subject to the following terms and conditions: 
 (i) Price. The purchase
price per share of Common Stock deliverable upon the exercise of each Non-statutory Stock Option shall be determined on the date the option is granted. Such purchase price shall be the Fair Market Value of the Company’s Common Stock on the
Date of Grant or such greater amount as determined by the Committee; provided, however, that the purchase price of a Non-statutory Stock Option granted under this Plan may be less than the Fair Market Value of the Common Stock on the date of Grant
if the Grant: (i) involves the substitution of a Non-statutory Stock Option under this Plan for an outstanding option under another plan pursuant to a corporate transaction; (ii) the requirements of Treas. Reg. 1.424-1 would be met if the
Non-statutory Stock Option was an Incentive Stock Option and (iii) the ratio of the exercise price from the fair market value of the shares subject to the new Non-statutory Stock Option immediately after the substitution is not greater than the
ratio of the exercise price to the fair market value of the shares subject to the old Non-statutory Stock Option immediately before the substitution. Shares may be purchased only upon full payment of the purchase price, provided, however, that,
if authorized by the Committee, a Participant may exercise an Option through a cashless exercise as permitted by Federal Reserve Board Regulation T and the Company shall make reasonable efforts to facilitate such exercise. 

(ii) Terms of Options. The term during which each Non-statutory Stock Option may be exercised shall be ten
years from the Date of Grant, or such shorter period determined by the Committee. The Committee shall determine the date on which each Non-statutory Stock Option shall become vested and may provide that a Non-statutory Stock Option shall become
vested in installments. The shares comprising each installment may be purchased in whole or in part at any time after such installment becomes vested. The Committee may, in its sole discretion, accelerate the time at which any
Non-statutory Stock Option becomes vested in whole or in part. 
 (iii) Termination of Service. Upon
the termination of a Participant’s service as an Employee, Director or a Consultant for any reason other than death or Disability, Termination for Misconduct, or by order of any Regulatory Authority, the Participant’s Non-statutory Stock
Options shall be exercisable only as to those shares which were vested at the date of termination and only for a period of 90 days following termination unless otherwise determined by the Committee in its sole discretion.

  

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Notwithstanding the foregoing, if the Participant is engaged to provide Investor Relations Activities, and such Participant ceases to be so engaged for any reason other than death or Disability,
Termination for Misconduct or by order of any Regulatory Authority, such Participant’s vested Non-Statutory Stock Options shall be exercisable for a period of 30 days following termination unless the Committee in its sole discretion determines
otherwise. 
 In the event of termination for death or Disability, the Participant’s Non-statutory Stock
Options shall be exercisable only as to those shares which were vested at the date of termination and only for a period of twelve months following termination unless otherwise determined by the Committee in its sole discretion. 

In the event of Termination for Misconduct or by order of a Regulatory Authority, all rights under the Participant’s
Non-statutory Stock Options shall expire upon termination of employment. 
 The vesting of all or a part of a
Grant of Non-statutory Stock Options may be accelerated, in the sole discretion of the Board, in the event there is a Change in Control of the Company. 

(iv) Options for API Employees, Consultants and Directors. Notwithstanding anything to the contrary in this
Plan, Non-statutory options may be issued under this Plan to employees, former employees, consultants, former consultants, directors and former directors of API (and its affiliates) on the terms and conditions identified in the Combination Agreement
between the Company and API. 
 (v) Warrants. Non-statutory options may also be denominated as
“warrants” of the Company. Warrants shall be subject to the same terms and conditions under this plan as non-statutory options. 

9. INCENTIVE STOCK OPTIONS. 

9.1 Grant of Incentive Stock Options. 

The Committee may, from time to time, grant Incentive Stock Options to Employees. Incentive Stock Options granted pursuant to the
Plan shall be subject to the following terms and conditions: 
 (a) Price. The purchase price per
share of Common Stock deliverable upon the exercise of each Incentive Stock Option shall be not less than 100% of the Fair Market Value of the Company’s Common Stock on the Date of Grant; provided, however, that the purchase price of an
Incentive Stock Option granted under this Plan may be less than the Fair Market Value of the Common Stock on the Date of Grant if the Grant: (i) involves the substitution of an Incentive Stock Option for an outstanding incentive stock option
under another plan pursuant to a corporate transaction; and (ii) the requirements of Treas. Reg. 1.424-1 are met with respect to the substitution. However, if a Participant owns Common Stock representing more than 10% of the total combined
voting power of all classes of Common Stock of the Company (or under Section 425(d) of the Code is deemed to own Common Stock representing more than 10% of the total combined voting power of all such classes of Common Stock), the purchase
price per share of Common Stock deliverable upon the exercise of each Incentive Stock Option shall not be less than 110% of the Fair Market Value of the Company’s Common Stock on the Date of Grant. Shares may only be purchased on full
payment of the purchase price, provided, however, that, if authorized by the Committee, a Participant may exercise an Option through a cashless exercise as permitted by Federal Reserve Board Regulation T and the Company shall use reasonable efforts
to facilitate such exercise. 
 (b) Amounts of Options. Incentive Stock Options may be granted to any
Employee in such amounts as determined by the Committee. In the case of an option intended to qualify as an Incentive Stock Option, the aggregate Fair Market Value (determined as of the time the option is granted) of the Common Stock with
respect to which Incentive Stock Options granted are exercisable for the first time by the Participant during any calendar year (under all plans of the Participant’s employer corporation and its parent and subsidiary corporations) shall not
exceed $100,000. The provisions of this Section 9.1(b) shall be construed and applied in accordance with Section 422(d) of the Code and the regulations, if any, promulgated thereunder. To the extent an award under this
Section 9.1 exceeds this $100,000 limit, the portion of the award in excess of such limit shall be deemed a Non-statutory Stock Option. 

(c) Terms of Options. The term during which each Incentive Stock Option may be exercised shall be determined
by the Committee, but in no event shall an Incentive Stock Option be exercisable in whole or in 
  

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part more than ten years from the Date of Grant. If at the time an Incentive Stock Option is granted to an Employee, the Employee owns Common Stock representing more than 10% of the total
combined voting power of the Company (or, under Section 425(d) of the Code, is deemed to own Common Stock representing more than 10% of the total combined voting power of all such classes of Common Stock), the Incentive Stock Option
granted to such Employee shall not be exercisable after the expiration of five years from the Date of Grant. 

No Incentive Stock Option granted under this Plan is transferable except by will or the laws of descent and distribution
and is exercisable in his lifetime only by the Employee to whom it is granted. After death an Incentive Stock Option may be exercised by the beneficiary described in Section 14 below. 

The Committee shall determine the date on which each Incentive Stock Option shall become vested and may provide that an
Incentive Stock Option shall become vested in installments. The shares comprising each installment may be purchased in whole or in part at any time after such installment becomes vested, provided that the amount able to be first exercised in a
given year is consistent with the terms of Section 422 of the Code. The Committee may, in its sole discretion, accelerate the time at which any Incentive Stock Option becomes vested in whole or in part, provided that it is consistent with
the terms of Section 422 of the Code. 
 (d) Termination of Service. Upon the termination of a
Participant’s service for any reason other than death or Disability, Termination for Misconduct, or by order of a Regulatory Authority, the Incentive Stock Options shall be exercisable only as to those shares which were vested at the date of
termination and only for a period of 90 days following termination (unless otherwise determined by the Committee in its sole discretion). 

In the event of termination for death or Disability, the Participant’s Incentive Stock Options shall be exercisable
only as to those shares which were vested at the date of termination and only for a period of twelve months following termination unless otherwise determined by the Committee in its sole discretion. 

In the event of Termination for Misconduct or by order of a Regulatory Authority, all rights under the Participant’s
Incentive Stock Options shall expire upon termination of employment. 
 The vesting of all or a part of a Grant
of Incentive Stock Options may be accelerated, in the sole discretion of the Board, in the event there is a Change in Control of the Company. 

(e) Compliance with Code. The options granted under this Section 9 of the Plan are intended to qualify as
incentive stock options within the meaning of Section 422 of the Code, but the Company makes no warranty as to the qualification of any option as an incentive stock option within the meaning of Section 422 of the Code. 

(f) Options for API Employees. Notwithstanding anything to the contrary in this Plan, Incentive Stock Options
may be issued under this Plan to employees, former employees, directors and former directors of API (and its affiliates) on the terms and conditions identified in the Combination Agreement between the Company and API. 

10. RIGHTS OF A STOCKHOLDER; NO TRANSFERABILITY.  

No Participant shall have any rights as a stockholder with respect to any shares covered by a Non-statutory and/or Incentive Stock Option
until the date of issuance of such shares. Nothing in this Plan or in any Award granted confers on any person any right to continue in the employ of the Company or its Affiliates or to continue as a Director of the Company or its Affiliates or
to continue as a Consultant to the Company or its Affiliates or interferes in any way with the right of the Company or its Affiliates to terminate a Participant’s services as an officer, Employee, Consultant or Director at any time. 

No Option or other Award granted under this Plan is transferable except by will or the laws of descent and distribution and is
exercisable in his or her lifetime only by the Participant to whom it is granted. No Option or other Award (or interest or right therein) may be subject to pledge, encumbrance, assignment, levy, attachment or garnishment. 

 

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 11. AGREEMENT WITH GRANTEES. 

Each Award of Options will be evidenced by a written agreement, executed by the Participant and the Company or its Subsidiaries or
Affiliates which describes the conditions for receiving the Options including the date of Option Award, the purchase price if any, applicable periods, and any other terms and conditions as may be required by applicable securities law. 

The proper officers of the Company shall advise each Participant who is awarded a Stock Grant, in writing, of the number of shares to
which it pertains and the terms and conditions and any restrictions or performance requirements applicable to such Stock Grant; provided they are not inconsistent with the terms, conditions and provisions of the Plan. 

12. RESTRICTIONS ON SHARES. 

The Committee may require before any shares of Common Stock are issued pursuant to this Plan, that the Participant agrees to subject the
shares to such holding periods and restrictions as are determined by the Committee. 
 13. DESIGNATION OF BENEFICIARY. 

A Participant may, with the consent of the Committee, designate a person or persons to receive, in the event of death, any Award to which
the Participant would then be entitled. Such designation will be made upon forms supplied by and delivered to the Company and may be revoked in writing. If a Participant fails effectively to designate a beneficiary, then the
Participant’s estate will be deemed to be the beneficiary. 
 14. ADJUSTMENTS. 

In the event of any change in the outstanding shares of Common Stock of the Company by reason of any stock dividend or split,
recapitalization, merger, consolidation, spin-off, reorganization, combination or exchange of shares, or other similar corporate change, or other increase or decrease in such shares without receipt or payment of consideration by the Company, the
Committee will make such adjustments to previously granted Awards, to prevent dilution or enlargement of the rights of the Participant, including any or all of the following: 

(a) adjustments in the aggregate number or kind of shares of Common Stock which may be awarded under the Plan; 

(b) adjustments in the aggregate number or kind of shares of Common Stock covered by Awards already made under the Plan;

 (c) adjustments in the purchase price of outstanding Incentive and/or Non-statutory Stock Options. 

No such adjustments may, however, materially change the value of benefits available to a Participant under a previously granted Award.

 15. WITHHOLDING/GOVERNMENTAL AUTHORITY. 

There may be deducted from each distribution of cash and/or Common Stock under the Plan the amount of tax required by any governmental
authority to be withheld or paid. The Company may also require a Participant to take, or the Company may take, any other action as may be required by a governmental authority in connection with any distribution under the Plan and the Company
may refrain from making any distributions until such action is taken. 
 16. REGISTRATION OF PLAN ON FORM S-8. 

The Company may register the Plan on a Form S-8 and in such event, will take such additional action as is necessary in connection
with such registration. The Company may in its sole discretion, however, elect to not register the Plan or to terminate such registration. 
  

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 17. TERMINATION AND AMENDMENT OF THE PLAN. 

The Board of Directors may at any time, and from time to time, suspend, terminate, modify or amend the Plan in any respect. 

The Board may determine that stockholder approval of any amendment to this Plan may be advisable for any reason, including but not
limited to, for the purpose of obtaining or retaining any statutory or regulatory benefits under tax, securities or other laws or satisfying applicable stock exchange listing requirements. 

Such suspension, termination, modification or amendment may not affect the rights of a Participant under an outstanding Award, except the
Board may, in connection with a Change in Control, either: (i) replace the Awards granted under this Plan with substantially similar awards under another plan of another party to the Change in Control; (ii) make a payment to all
Participants with respect to Options equal to the difference between the Fair Market Value of the Common Stock on the date of the Change in Control and the exercise price per share of an Option on the Date of Grant in either cash or such
consideration as the holders of Common Stock of the Company are receiving in the Change of Control transaction or (iii) upon not less than 7 days written notice to all holders of Options, cause all Options to terminate immediately prior to the
effective time of the Change of Control, and if the Board elects, accelerate the Vesting of any or all Options not then vested. Options granted under another plan shall not be substantially similar unless the shares acquired through the
exercise of such options are readily tradable on an established securities market. 
 No Awards under the Plan shall be granted
more than ten (10) years after the Effective Date of the Plan. 
 18. EFFECTIVE DATE OF PLAN. 

The Plan shall become effective as of the date that the Plan is approved by the directors of the Company (the “Effective Date”);
provided that the Plan is approved by the Company’s stockholders at the next annual meeting of stockholders of the Company and within one (1) year of the Effective Date. The Plan also shall be presented to stockholders of the Company
for ratification for purposes of: (i) satisfying one of the requirements of Section 422 of the Code governing the tax treatment for Incentive Stock Options; and (ii), if applicable, establishing or maintaining listing on a stock exchange
or system. 
 19. APPLICABLE LAW. 

The Plan will be administered in accordance with the laws of the State of Delaware to the extent not preempted by Federal law as now or
hereafter in effect. 
 20. COMPLIANCE WITH SECTION 16. 

With respect to persons subject to Section 16 of the Exchange Act, transactions under this Plan are intended to comply with all
applicable conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and
deemed advisable by the Committee. 
  

 9Second Amended and Restated Services Agreement

 Exhibit 10.1 

SECOND AMENDED AND RESTATED SERVICES AGREEMENT 

THIS SECOND AMENDED AND RESTATED SERVICES AGREEMENT (the “Agreement”) entered into on April 1, 2010,
is between the Federal Home Loan Bank of Atlanta (the “Bank”) and SJG Financial Consultants, LLC, a Georgia limited liability company (“Contractor”). 

WHEREAS, the parties entered into that certain Amended and Restated Services Agreement, dated as of August 9, 2007 and as
further amended on November 14, 2008 (the “Amended and Restated Services Agreement”); and 

WHEREAS, the parties now wish to further amend and restate the Amended and Restated Services Agreement, to provide in a separate
agreement the scope, terms and limitations related to the Bank’s indemnification of Contractor and Steven J. Goldstein; 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Bank and
Contractor hereby agree as follows: 
  

	1.	Engagement 

Subject to the terms and conditions of this Agreement, the Bank hereby engages Contractor to perform the Services (defined below), and
Contractor hereby accepts such engagement. Contractor’s relationship with the Bank will be strictly that of an independent contractor. Nothing in this Agreement should be construed to create a partnership, joint venture, employer-employee
relationship, or promise of any future employment by the Bank or any affiliate thereof. Contractor is not the agent of the Bank and is not authorized to make any representation, contract, or commitment on behalf of the Bank except as is necessary in
order for him to perform the Services. Contractor will not be entitled to any of the benefits or forms of compensation which the Bank may make available to its employees, including but not limited to bonuses, insurance, profit-sharing or retirement
benefits, social security benefits, paid vacations or paid sick leave. 
  

	2.	Scope of Services 

Subject to the provisions of this Agreement, Contractor shall assign one of its employees, Goldstein, to perform the usual and customary
duties of chief financial officer, and such other assignments as may be given to him by the president and chief executive officer of the Bank from time to time (the “Services”). Goldstein will report directly to the president
and chief executive officer of the Bank. During the term of this Agreement, Contractor shall cause Goldstein to devote as much of his productive time, energy and abilities to the performance of the Services as is necessary for the performance of
such Services in a timely and productive manner. The parties further expect that Goldstein will conduct most of the Services at the principal office of the Bank. Contractor agrees to cause Goldstein to behave in a responsible and professional manner
at all times while performing the Services under this Agreement. The parties hereby agree and acknowledge that Goldstein shall be the only employee of Contractor that is authorized by the parties to perform the Services on behalf of the Contractor
hereunder. 

	3.	Compensation; Taxes 

  

	 	(a)	The Bank shall pay Contractor $394,000 per year, in twelve approximately equal monthly installments (each such monthly installment, the “Base
Fee”), for the Services provided to the Bank under this Agreement. The Base Fee may be amended at any time in writing by mutual agreement of the parties. 

 

	 	(b)	The Contractor also shall be eligible to receive, in the Bank’s discretion, each calendar year, an incentive fee (“Incentive Fee”),
determined as a percentage of the Base Fee paid to the Contractor for the immediately preceding calendar year, in an amount up to the maximum annual incentive compensation award opportunity available to an executive vice president of the Bank under
the Bank’s Executive Incentive Compensation Plan for such immediately preceding calendar year. 

  

	 	(c)	Contractor shall send the Bank an invoice for its Base Fee and expenses provided hereunder for the immediately preceding calendar month by the 15th day of the following
calendar month. Contractor’s failure to send the Bank an invoice by such date shall not relieve the Bank of its obligation to pay Contractor for its performance of the Services. The Bank shall pay the invoice by the end of the calendar month in
which such invoice is received. 

  

	 	(d)	Contractor understands and agrees that, as an independent contractor, it is solely responsible for all taxes and other costs and expenses attributable to the
compensation payable to and the Services provided by it under this Agreement. Contractor understands and agrees that it is obligated to pay federal, state and local income tax, if any, due on any monies paid to it pursuant to this Agreement, and
Contractor represents that it has taken and will take any and all actions required to comply with all applicable federal, state and local laws pertaining to the same. 

 

	4.	Equipment and Expenses 

  

	 	(a)	The Bank shall supply Contractor with the equipment and support reasonably necessary to perform the Services under this Agreement, including office space for Goldstein
at the Bank’s principal office and access to facsimile, telephone, and internet services at such location. 

  

	 	(b)	The Bank shall reimburse Contractor for reasonable and documented expenses incurred by Contractor in the performance of the Services, in accordance with the Bank’s
normal policies and procedures. Contractor shall not be reimbursed for meal costs while performing the Services at the Bank’s principal office, commuting costs or other expenses associated with the normal performance of the Services at the
Bank’s principal office on a daily basis. 

  

	5.	Representations and Warranties of Contractor 

  

	 	(a)	Contractor represents that it shall have control over the means of providing the Services identified herein. Contractor agrees to accept exclusive liability for
complying with all applicable state and federal laws governing self-employed individuals and employers, including but not limited to obligations such as payment and withholding of taxes, social security, disability, workers’ compensation
insurance, and other contributions based on fees paid to Contractor under this Agreement. Contractor agrees to provide to the Bank a certificate of workers’ compensation insurance or confirmation of exemption. 

	 	(b)	Contractor commits to perform, and to cause Goldstein to perform, the Services ethically and honestly and in a competent and efficient manner using their best efforts
to accomplish the objectives of the Bank. Contractor agrees to perform, and to cause Goldstein to perform, all Services in strict compliance with any and all applicable federal, state, and local laws, regulations and guidelines known to Contractor,
and in accordance with any other relevant professional or other standards known to Contractor. Contractor agrees, and agrees to cause Goldstein, to act ethically and honestly with respect to reports and documents that the Bank files with, or submits
to, the United States Securities and Exchange Commission, and other regulatory filings and public communications, for which preparation Contractor or Goldstein is involved with, or supervises, on behalf of the Bank. 

 

	6.	Conflicts of Interest 

  

	 	(a)	Contractor represents that it has advised the Bank in writing prior to the date of signing this Agreement of any of its or Goldstein’s relationship with any third
parties, including members and competitors of the Bank, or other legal obstacles that would present a conflict of interest with Contractor’s or Goldstein’s performance of the Services, or which would prevent Contractor or Goldstein from
carrying out the terms of this Agreement. Contractor affirms that it shall, and it shall cause Goldstein to, advise the Bank of any such conflicts of interest, legal or ethical obstacles or other violations of this Agreement that arise during the
term of this Agreement. In such event, the Bank shall have the option to terminate this Agreement without further liability to Contractor other than the obligation to pay for Services actually rendered as of the date of such termination. Contractor
further agrees to refrain from making any recommendations or taking any actions that would elevate its interests, or the interests of any client, over the interests of the Bank. 

 

	 	(b)	During the term of his appointment as an officer of the Bank, Goldstein agrees to comply with the provisions of the Bank’s Code of Conduct, subject to any
exceptions or waivers granted thereunder in accordance therewith. 

  

	7.	Term and Termination 

  

	 	(a)	The term of this Agreement shall begin on April 1, 2010, and continue until April 1, 2011, unless earlier terminated as provided for herein, and shall be
automatically extended for additional one-year terms (the “Term”), on April 1 of each year, unless either party gives notice, in writing, to the other party prior to such renewal date that it does not wish to extend such
Term. 

  

	 	(b)	The Bank may terminate this Agreement at any time prior to the end of the Term by giving written notice to Contractor. If this Agreement is terminated by the Bank, the
Bank shall have no continuing financial obligation to Contractor other than (i) to pay the Base Fee for Services actually performed by Contractor through the date of termination to the extent not theretofore paid; and (ii) to reimburse
Contractor for any expenses incurred by Contractor in accordance with the provisions of this Agreement (collectively, the “Accrued Obligations”). 

 

	 	(c)	Contractor may terminate this Agreement at any time prior to the end of the Term for any reason by giving written notice to the Bank. If Contractor terminates this
Agreement, or if the Agreement is not renewed or extended at the end of the Term, the Bank shall have no continuing financial obligation to Contractor other than to pay the Accrued Obligations. 

	8.	Right of Review 

During the Term, and for a period of one year after the termination of this Agreement for any reason whatsoever, the Bank and/or its
representatives at reasonable times agreed to by Contractor, and upon reasonable written notice to Contractor, shall have the right to review all contracts, correspondence, books, accounts, files, and records of Contractor directly relating to
Contractor’s performance of the Services or the compensation he received therefore. 
  

	9.	Indemnification of the Bank 

  

	 	(a)	Contractor shall defend, indemnify, and hold harmless the Bank from and against all liabilities, claims, losses, costs, fines, expenses, penalties and damages of any
type (including reasonable attorneys’ fees and costs) arising out of actions taken (or failed to be taken) by Contractor in its performance of the Services that are determined by a court of competent jurisdiction to be grossly negligent,
intentionally reckless or with willful disregard to the consequences of the Bank or other parties. 

  

	 	(b)	The Bank shall promptly notify Contractor of any third party claim or potential claim that could give rise to a claim for indemnification under this Section 9.
Contractor shall have the right to assume the defense of any such third party claim with counsel of its choice reasonably satisfactory to the Bank at any time within 15 days after the Bank has given Contractor notice of the third party claim;
provided, however, that the Bank may retain separate co-counsel at its sole cost and expense, unless the Bank and Contractor have reasonably concluded that there may be a conflict of interest between them in the conduct of such defense, or the
Contractor shall have failed to diligently pursue such defense, in which case the reasonable fees and expenses of the Bank’s counsel shall be paid by the Contractor. The Bank may participate in the defense of any third party claim against it,
and the Contractor shall not settle any such claim in any manner that would impose any penalty or limitation on the Bank, or could damage its reputation, without the Bank’s prior written consent. 

 

	 	(c)	The indemnification obligations of the Contractor hereunder shall continue in full force and effect in accordance with their terms upon termination of this Agreement if
the acts or omissions resulting in indemnification liability to the Bank occurred during the Term in which this Agreement was in effect. 

  

	10.	Assignment 

 No
assignment by Contractor of this Agreement or any of its rights, duties or obligations hereunder, shall be binding on the Bank without the Bank’s prior written consent. 

 

	11.	Entire Agreement 

Other than (a) the Non-Disclosure and Confidentiality Agreement (the “Confidentiality Agreement”), dated as
of April 11, 2007, between the Bank and Contractor, and (b) the Indemnification Agreement (the “Indemnification Agreement”), dated as of April 1, 2010, among the Bank, Contractor, and Steven J. Goldstein, this
Agreement contains the entire 

 
agreement of the parties relating to the provision of Services, and except for such Confidentiality Agreement and Indemnification Agreement, it supersedes all prior agreements and understandings
between the parties related to this subject matter, including the Amended and Restated Services Agreement. 
  

	12.	No Alteration, Change or Amendment Without Signed Writing 

This Agreement may not be altered, changed or amended except by a writing signed by each of the parties hereto. 

 

	13.	Waiver 

 The
waiver by either party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver by the waiving party of any subsequent similar or other breach by the other party. 

 

	14.	Governing Law 

This Agreement shall be construed according to the laws of Georgia. 

 

	15.	Jurisdiction and Venue 

Any proceedings or actions commenced hereunder shall be brought exclusively in any state or federal court within Fulton County, Georgia.

  

	16.	Execution in Counterparts 

This Agreement may be executed in any number of counterparts, each of which, when executed, shall be deemed to be an original and all of
which together shall constitute one and the same document. 
  

	17.	Acknowledgement of Opportunity to Review and Rules of Construction 

The parties acknowledge that they have had an opportunity to review each and every provision contained in this Agreement and to submit
the same to legal counsel for review and comment. Based on the foregoing, the parties agree that any rule of construction that a contract be construed against the drafter will not be applied in the interpretation and construction of this Agreement.

  

	18.	Severability 

 The
invalidity or unenforceability of any provisions of this Agreement, whether in whole or in part, shall not in any way affect the validity and/or enforceability of any other provision of this Agreement. Any invalid or unenforceable provision shall be
deemed severable to the extent of any such invalidity or unenforceability. 

	19.	Third Party Beneficiaries 

Other than Goldstein, there are no third party beneficiaries of this Agreement, and no party other than the Bank and Contractor shall
have any legal rights hereunder, except for Goldstein pursuant to the indemnification provisions applicable to him. 
  

	20.	Limitation of Liability 

IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, MULTIPLE, PUNITIVE OR
CONSEQUENTIAL DAMAGES OF ANY KIND, WHETHER BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), WARRANTY, GUARANTEE, PRODUCT LIABILITY OR STRICT LIABILITY OR ANY OTHER LEGAL OR EQUITABLE GROUNDS, EVEN IF SUCH PARTY HAS BEEN ADVISED IN ADVANCE OF THE
POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WILL A PARTY BE LIABLE TO THE OTHER FOR ANY REPRESENTATION OR WARRANTY MADE TO ANY THIRD PARTY BY THE OTHER PARTY. 
  

	21.	Notices 

 Any and
all notices referred to herein shall be in writing and shall be deemed to have been given when personally delivered or when mailed, registered or certified mail, postage prepaid, to the following addresses: 

To the Bank: 

Attn: President and Chief Executive Officer 

Federal Home Loan Bank of Atlanta 

1475 Peachtree Street, NE 

Atlanta, GA 30309 

With a copy to: 

Attn: General Counsel 

Federal Home Loan Bank of Atlanta 

1475 Peachtree Street, NE 

Atlanta, GA 30309 

To Contractor and Goldstein: 

SJG Financial Consultants, LLC 

1640 Misty Oaks Drive 

Atlanta, Georgia 30350 
  

	22.	Finance Agency Review 

This Agreement shall be effective on April 1, 2010; provided, however, that the parties hereby agree to undertake any and all
further action necessary, including but not limited to amending this Agreement, with respect to any requirement, order or objection of the Federal Housing Finance Agency to the extent permitted by applicable law. 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by
their duly authorized representatives. 
  

			
	FEDERAL HOME LOAN BANK
 OF
ATLANTA

		
	By:	 	 /s/ Richard A. Dorfman

		 	 Richard A. Dorfman, President

and Chief Executive Officer

	
	SJG FINANCIAL CONSULTANTS, LLC
		
	By:	 	 /s/ Steven J. Goldstein

		 	Steven J. Goldstein, Manager

  

FOR PURPOSES OF SECTION 6(b) ONLY: 
  

 

	
	 /s/ Steven J. Goldstein

	Steven J. Goldstein

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