Document:

Exhibit

Execution Version

BORROWING BASE REDETERMINATION AND TENTH AMENDMENT TO CREDIT AGREEMENT 

THIS BORROWING BASE REDETERMINATION AND TENTH AMENDMENT TO CREDIT AGREEMENT (this “Agreement”) is entered into as of June 17, 2019, among LONESTAR RESOURCES AMERICA INC., a Delaware corporation (“Borrower”), the Guarantors party hereto, CITIBANK, N.A., a national banking association, as administrative agent (in such capacity, the “Administrative Agent”) and as issuing bank (in such capacity, the “Issuing Bank”), and the other financial institutions executing this Agreement.
R E C I T A L S
A.The Borrower, the financial institutions party thereto from time to time (the “Lenders”), the Issuing Bank, and Administrative Agent are parties to that certain Credit Agreement dated as of July 28, 2015, as amended or otherwise modified by a Limited Consent and Waiver dated as of October 7, 2015, a First Amendment to Credit Agreement dated as of April 29, 2016, a Second Amendment to Credit Agreement dated as of May 19, 2016, a Third Amendment to Credit Agreement dated as of July 27, 2016, a Fourth Amendment to Credit Agreement dated as of November 23, 2016, a Fifth Amendment to Credit Agreement and Limited Waiver dated as of December 29, 2016, a Sixth Amendment and Joinder to Credit Agreement dated as of June 15, 2017, a Limited Waiver, Borrowing Base Redetermination Agreement, Amendment No. 7 to Credit Agreement dated as of January 4, 2018, Borrowing Base Redetermination Agreement and Amendment No. 8 to Credit Agreement dated as of May 24, 2018, a Consent Agreement dated as of September 28, 2018, and a Ninth Amendment and Joinder to Credit Agreement dated as of November 15, 2018, (as so amended or otherwise modified and as may be further amended or otherwise modified from time to time, including, without limitation, by this Agreement, the “Credit Agreement”).
B.    Subject to the terms and conditions set forth herein, on the Agreement Effective Date, (i) the Lenders under the Credit Agreement wish to reallocate a percentage of their rights and obligations under the Credit Agreement and the other Loan Documents as a Lender among themselves, and (ii) the Lenders have agreed to increase the Borrowing Base to $290,000,000, and make certain amendments to the Credit Agreement, each as set forth below.

NOW, THEREFORE, in consideration of these premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Same Terms.  
(a)    All terms used herein which are defined in the Credit Agreement shall have the same meanings when used herein, unless the context hereof otherwise requires or provides.  In addition, (i) all references in the Loan Documents to the “Agreement” shall mean the Credit Agreement as the same shall hereafter be amended or otherwise modified from time to time, and (ii) all references in the Loan Documents to the “Loan Documents” shall mean the Loan Documents as the same shall hereafter be amended or otherwise modified from time to time.
(b)    Section 1.04 of the Credit Agreement is hereby incorporated herein mutatis mutandis.
2.    Reallocation of Commitments.  On the Agreement Effective Date, each of the Lenders under the Credit Agreement hereby sells, assigns, transfers and conveys to the Lenders hereunder, and each of the Lenders hereby purchases and accepts, so much of the aggregate Commitments under, and Loans and participations in Letters of Credit outstanding under, the Credit Agreement such that, immediately after giving effect to this Agreement, including the amendments to the Credit Agreement set forth in Section 4 hereof, the relevant Commitments of each Lender shall be as set forth on Annex I hereto (it being understood that (i) if any Letters of Credit are outstanding under the Credit Agreement as of the Agreement Effective Date, then each of the Lenders shall have purchased and accepted from the other Lenders, a participation in such outstanding Letters of Credit 

BORROWING BASE REDETERMINATION AND AMENDMENT – Page 1

based on its respective Applicable Percentage as reflected on Annex I hereto, and (ii) any other adjustments shall be made as the Administrative Agent shall specify so that the Revolving Credit Exposure applicable to each Lender equals its Applicable Percentage (after giving effect to this Agreement) of the aggregate Revolving Credit Exposure of all Lenders.  The foregoing assignments, transfers and conveyances are without recourse to any Lender and without any warranties whatsoever by the Administrative Agent or any Lender as to title, enforceability, collectability, documentation or freedom from liens or encumbrances, in whole or in part, other than that the warranty of any such Lender that it has not previously sold, transferred, conveyed or encumbered such interests.  Each Lender hereby waives any costs required to be paid by the Borrower pursuant to Section 5.02 of the Credit Agreement solely as a result of the assignments set forth in this Section 2.
3.    Redetermination of the Borrowing Base.
(a)    Subject to the terms of this Agreement, as of the Agreement Effective Date (i) the Borrowing Base shall be $290,000,000, and such Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement, and (ii) each Lender’s Applicable Percentage of the Borrowing Base, after giving effect to the increase set forth in clause (a)(ii) above, shall be as set forth on Annex I hereto.  
(b)    The parties hereto hereby acknowledge and agree that the Borrowing Base established pursuant to this Section 3 shall constitute the “Spring 2019 Redetermination” as defined in that certain letter agreement dated as of April 24, 2019 among the Borrower, the Administrative Agent, the Issuing Bank and the Lenders party thereto. The Administrative Agent, the Issuing Bank, the Lenders, and the Borrower hereby waive any required notices, notice periods, and timing requirements under the Credit Agreement (both before and after giving effect to this Agreement) in connection with the redetermination of the Borrowing Base under the Credit Agreement as set forth in this Agreement.  
4.    Amendments to Credit Agreement.  
(a)    Subject to the terms of this Agreement and in reliance on the representations, warranties, covenants and agreements contained in this Agreement, as of the Agreement Effective Date, Annex I (List of Maximum Credit Amounts) to the Credit Agreement is hereby amended and restated in its entirety as set forth in Annex I hereto.
(b)    Section 1.02 of the Credit Agreement is hereby amended by amending and restating the definition of “Capital Leases” in its entirety as follows:
"Capital Leases" means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder; provided, however, notwithstanding anything to the contrary contained herein or in any other Loan Document, for all purposes hereunder and under any other Loan Document, GAAP shall be deemed to treat any operating leases in a manner consistent with their treatment under GAAP as in effect on the Effective Date.

5.    Conditions Precedent.  The obligations and agreements of the Lenders as set forth in this Agreement are subject to the satisfaction (in form and substance satisfactory to the Administrative Agent), unless waived in writing by Administrative Agent and each Lender, of each of the following conditions (the date of such satisfaction or waiver of all conditions precedent, the “Agreement Effective Date”):
(a)    Agreement.  The Administrative Agent shall have received executed counterparts of this Agreement from duly authorized officers of each of the Borrower and the Guarantors, the Administrative Agent, the Issuing Bank, and the Lenders.

BORROWING BASE REDETERMINATION AND AMENDMENT – Page 2

(b)    Fees and Expenses.  The Administrative Agent shall have received payment of (i) the Increase Upfront Fee (as defined below), and (ii) all fees and expenses due to the Arranger and the Administrative Agent, in each case, in connection with this Agreement and the Credit Agreement and, in the case of expenses and legal fees, to the extent invoiced in reasonable detail at least two (2) Business Days prior to the Agreement Effective Date (except as otherwise reasonably agreed by the Borrower).
(c)    Representations and Warranties.  On and as of the Agreement Effective Date, after giving effect to this Agreement and the transactions contemplated hereby, the representations and warranties of the Borrower and the Guarantors set forth in the Credit Agreement and in the other Loan Documents shall be true and correct in all material respects (without duplication of materiality), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, on and as of the Agreement Effective Date, such representations and warranties shall continue to be true and correct in all material respects (without duplication of materiality) as of such specified earlier date.
6.    Fees.  The Borrower agrees to pay to the Administrative Agent, for the account of each Lender, an increase fee (the “Increase Upfront Fee”) in an amount equal to 0.45% of the Commitment of each such Lender after giving effect to the Amendment Effective Date that is in excess of such Lender’s Commitment in effect immediately prior to the Agreement Effective Date.  The entire amount of the Increase Upfront Fees are fully earned and due and payable on the Agreement Effective Date.  The Borrower agrees that, once paid, the Increase Upfront Fees or any part thereof payable hereunder shall not be refundable under any circumstances.  All fees payable hereunder shall be paid in immediately available funds in dollars and shall not be subject to reduction by way of withholding, setoff or counterclaim or be otherwise affected by any claim or dispute related to any other matter.  In addition, all fees payable hereunder shall be paid without deduction for any taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any national, state or local taxing authority, or will be grossed up by the Borrower for such amounts.  At the sole discretion of each Lender, all or any portion of any fees paid to such Lender may be allocated to any affiliate thereof or paid to any other Lender or Lenders.
7.    Certain Representations.  Each Loan Party represents and warrants that, as of the Agreement Effective Date:  (a) each Loan Party has full power and authority to execute this Agreement, and this Agreement constitutes the legal, valid and binding obligation of each Loan Party enforceable in accordance with its terms, except as enforceability may be limited by general principles of equity and applicable bankruptcy, insolvency, reorganization, moratorium, and other similar laws affecting the enforcement of creditors’ rights generally; and (b) no authorization, approval, consent or other action by, notice to, or filing with, any Governmental Authority or other Person is required for the execution, delivery and performance by each Loan Party of this Agreement.  In addition, each Loan Party represents that after giving effect to this Agreement and the transactions contemplated hereby all representations and warranties of the Borrower and the Guarantors set forth in the Credit Agreement and in the other Loan Documents shall be true and correct in all material respects (without duplication of materiality) on and as of the Agreement Effective Date, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, on and as of the Agreement Effective Date, such representations and warranties shall continue to be true and correct in all material respects (without duplication of materiality) as of such specified earlier date.
8.    Reaffirmation of Security Documents.  Each Loan Party (a) reaffirms the terms of and its obligations (and the security interests granted by it) under each Security Instrument to which it is a party, and agrees that each such Security Instrument will continue in full force and effect to secure the Obligations as the same may be amended, supplemented, or otherwise modified from time to time, and (b) acknowledges, represents, warrants and agrees that the Liens and security interests granted by it pursuant to the Security Instruments are valid, enforceable and subsisting and create a security interest to secure the Obligations.
9.    Reaffirmation of the Guaranty.  Each Guarantor hereby ratifies, confirms, acknowledges and agrees that its obligations under the Guaranty Agreement are in full force and effect and that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, all of the Obligations, as such Obligations as the same may be amended, supplemented, or otherwise modified from time to time, and its execution and delivery of this Agreement does not indicate or establish an approval or consent requirement by such Guarantor under the Guaranty Agreement, in connection 

BORROWING BASE REDETERMINATION AND AMENDMENT – Page 3

with the execution and delivery of amendments, consents or waivers to the Credit Agreement or any of the other Loan Documents.
10.    No Further Amendments.  Except as previously amended in writing or as modified hereby, the Credit Agreement shall remain unchanged and all provisions shall remain fully effective between the parties.
11.    Acknowledgments and Agreements.  Borrower acknowledges that on the date hereof all outstanding Obligations are payable in accordance with their terms.  Borrower, Administrative Agent, Issuing Bank, and each Lender do hereby adopt, ratify and confirm the Credit Agreement and acknowledge and agree that the Credit Agreement is and remains in full force and effect.  Any breach of any representations, warranties and covenants under this Agreement shall be an Event of Default under the Credit Agreement (subject to applicable notice and cure periods as set forth in the Credit Agreement).
12.    Limitation on Agreements.  The agreements set forth herein are limited precisely as written and shall not be deemed (a) to be a consent under or a waiver of or an amendment to any other term or condition in the Credit Agreement or any of the Loan Documents, other than as specifically set forth herein, or (b) to prejudice any right or rights that Administrative Agent now has or may have in the future under or in connection with the Credit Agreement and the other Loan Documents or any of the other documents referred to herein or therein.  This Agreement shall constitute a Loan Document for all purposes.  
13.    Counterparts.  This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be deemed an original, but all of which constitute one instrument.  In making proof of this Agreement, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of the parties hereto.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or by e-mail “PDF” copy shall be effective as delivery of a manually executed counterpart of this Agreement.
14.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Credit Agreement.
15.    Invalidity.  In the event that any one or more of the provisions contained in this Agreement shall be held invalid, illegal or unenforceable in any respect under any applicable Governmental Requirement, the validity, legality, and enforceability of the remaining provisions contained herein or therein shall not be affected or impaired thereby.
16.    Incorporation of Certain Provisions by Reference.  THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF TEXAS. The other provisions of Section 12.09 of the Credit Agreement captioned “Governing Law; Jurisdiction; Consent to Service of Process; Waiver of Jury Trial” are incorporated herein by reference for all purposes.
17.    Entirety, Etc.  THIS AGREEMENT AND ALL OF THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
 [This space is left intentionally blank.  Signature pages follow.]

BORROWING BASE REDETERMINATION AND AMENDMENT – Page 4

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date and year first above written.
BORROWER:

LONESTAR RESOURCES AMERICA INC.

By: /s/ Frank D. Bracken, III
Name:    Frank D. Bracken, III
Title:    Chief Executive Officer

GUARANTORS:

ALBANY SERVICES L L C
AMADEUS PETROLEUM INC.
T-N-T ENGINEERING, INC.

Each By: /s/ Frank D. Bracken, III
Name:    Frank D. Bracken, III
Title:    President

EAGLEFORD GAS, LLC
EAGLEFORD GAS 2, LLC
EAGLEFORD GAS 3, LLC
EAGLEFORD GAS 4, LLC
EAGLEFORD GAS 5, LLC
EAGLEFORD GAS 6, LLC
EAGLEFORD GAS 7, LLC
EAGLEFORD GAS 8, LLC
EAGLEFORD GAS 10, LLC
EAGLEFORD GAS 11, LLC
LONESTAR OPERATING, LLC
LONESTAR RESOURCES, INC.
POPLAR ENERGY, LLC
LA SALLE EAGLE FORD GATHERING LINE LLC
LONESTAR BR DISPOSAL LLC

Each By: /s/ Frank D. Bracken, III
Name:    Frank D. Bracken, III
Title:    Chief Executive Officer

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

ADMINISTRATIVE AGENT/ISSUING BANK:

CITIBANK, N.A.,
as Administrative Agent and Issuing Bank

By: /s/ Thomas Skipper
Name:    Thomas Skipper
Title:    Vice President

LENDERS:

CITIBANK, N.A., as a Lender

By: /s/ Thomas Skipper
Name:    Thomas Skipper
Title:    Vice President

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

ABN AMRO CAPITAL USA LLC, as a Lender

By: /s/ Darrell Holley
Name:    Darrell Holley
Title:    Managing Director

By: /s/ David Montgomery
Name:    David Montgomery
Title:    Managing Director

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

COMERICA BANK, as a Lender

By: /s/ Garrett R. Merrell
Name:    Garrett R. Merrell
Title:    Vice President

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

BARCLAYS BANK PLC, as a Lender

By: /s/ Sydney G. Dennis
Name:    Sydney G. Dennis
Title:    Director

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

JPMORGAN CHASE BANK, N.A., as a Lender

By: /s/ Theresa M. Benson
Name:    Theresa M. Benson
Title:    Authorized Officer

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

SUNTRUST BANK, as a Lender

By: /s/ Brian Guffin
Name:    Brian Guffin
Title:    Managing Director

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

FIFTH THIRD BANK, as a Lender

By: /s/ Jonathan H. Lee
Name:    Jonathan H. Lee
Title:    Director

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

IBERIABANK, as a Lender

By: /s/ Stacy Goldstein
Name:    Stacy Goldstein
Title:    Senior Vice President

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

HANCOCK WHITNEY BANK, as a Lender

By: /s/ Brock Berilgen
Name:    Brock Berilgen
Title:    Senior Vice President

BORROWING BASE REDETERMINATION AND AMENDMENT – Signature Page

ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS
Aggregate Maximum Credit Amounts
	
			
	Name of Lender
	Applicable Percentage
	Maximum Credit Amount

	Citibank, N.A.
	22.335423200%
	$111,677,116.00

	JPMorgan Chase Bank, N.A.
	17.272727270%
	$86,363,636.36

	ABN AMRO Capital USA LLC
	17.272727270%
	$86,363,636.36

	SunTrust Bank
	10.000000000%
	$50,000,000.00

	Fifth Third Bank
	10.000000000%
	$50,000,000.00

	Comerica Bank
	9.482758620%
	$47,413,793.10

	Barclays Bank PLC
	4.545454545%
	$22,727,272.73

	IBERIABANK
	4.545454545%
	$22,727,272.73

	Hancock Whitney Bank
	4.545454545%
	$22,727,272.73

	TOTAL
	100.000000000 %
	$500,000,000.00EXHIBIT 10.1

        

        

      

      AQUESTIVE THERAPEUTICS, INC.

       

      

      EMPLOYEE STOCK PURCHASE

       

      

      PLAN

      

      

      Adopted by the Board of Directors effective as of January 1, 2019

       

      

      Approved by the Stockholders June 13, 2019

       

      

      
        
          

      

      AQUESTIVE THERAPEUTICS, INC.

       

      

      EMPLOYEE STOCK PURCHASE PLAN

       

        

      
        	
                SECTION 1.

              	
                PURPOSE OF THE PLAN.

              

      

       

        

      The Aquestive Therapeutics, Inc. Employee Stock Purchase Plan (the “Plan”) is intended to
        provide Eligible Employees (as defined below) the opportunity to increase their proprietary interest in Aquestive Therapeutics, Inc. (the “Company”) by conveniently purchasing shares of the Company’s common
        stock, par value $0.001 per share (the “Stock”).  The Plan is composed of two components: a 423 Component and a Non-423 Component.  The 423 Component is intended to qualify under Section 423 of the Internal
        Revenue Code of 1986, as amended (the “Code”).  Accordingly, the provisions of the 423 Component will be construed in a manner consistent with the requirements of Section 423 of the Code.  The Plan also
        authorizes participation in the Plan under the Non-423 Component under terms that do not meet the requirements of Section 423 of the Code.  The Company shall be permitted to grant rights to purchase Stock under separate offerings not having
        identical terms (provided that such terms are not inconsistent with the terms of the Plan and, with respect to an offering under the 423 Component, the requirements of Section 423 of the Code), and offerings may run concurrently (in whole or in
        part) with each other.  Each offering under the Non-423 Component shall be separate and distinct from (and shall not be included in or be part of) any offering under the 423 Component, and each offering to a Participating Company shall be treated
        as an offering that is separate from any other offering made to another Participating Company, in each case, even if such offerings are running concurrently (in whole or in part) and/or have common terms and conditions.

       

      

      
        	
                SECTION 2.

              	
                DEFINITIONS.

              

      

       

        

      (a)        “423 Component” means the portion of the Plan under which any right to purchase
        Stock shall be granted in a manner that is intended to satisfy the requirements of Section 423 of the Code.

       

      

      (b)       “Affiliate” means any branch or representative office or other disregarded entity of the Company or a Subsidiary, as
        determined by the Committee, whether now or hereafter existing.

       

      

      (c)          “Board” means the Board of Directors of the Company, as constituted from time to time.

       

      

      (d)          “Change in Control” shall have the meaning set forth in the Company’s most recently adopted equity incentive plan, as in
        effect from time to time (and shall include a “Change of Control” as defined in any such plan); provided, that until the Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan is replaced with a successor plan that includes a definition of Change
        in Control or Change of Control, Change in Control shall mean an event described in Sections 2.5(a) through 2.5(d) of the Aquestive Therapeutics, Inc. 2018 Equity Incentive Plan.

       

      

      (e)        “Committee” means the duly constituted committee appointed by the Board to
        administer the Plan, as described in Section 3.  If no such committee is appointed, the Compensation Committee of the Board shall be the Committee.

       

      

      
        
          

      

      (f)         “Compensation” means all of an Eligible Employee’s base salary or wages. 
        “Compensation” shall exclude (i) commissions, bonuses and special incentive payments, (ii) equity compensation and income attributable to equity-based awards (including, without limitation, amounts realized from the exercise of any stock option and
        any dividends paid with respect to equity awards), (iii) all non-cash items, (iv) pre-tax contributions made by the Participant under Sections 401(k) or 125 of the Code or under any similar arrangements available under laws outside the United
        States and (v) allowances and other miscellaneous payments, including, without limitation, moving or relocation allowances, cost-of-living equalization payments, car allowances, tuition reimbursements, imputed income attributable to cars or life
        insurance, severance pay, fringe benefits, and benefits received under employee benefit plans.  The Committee shall determine whether a particular item not listed in this Section 2(f) is included in Compensation.

       

      

      (g)        “Effective Date” means the date as of which the Plan is adopted by the Board, subject to approval of the Plan by the
        stockholders of the Company.

       

      

      (h)        “Eligible Employee” means any individual who (i) is an Employee of a
        Participating Company, (ii) does not own 5% or more of the total combined voting power or value of all classes of stock of the Company or any Parent or Subsidiary, including, for purposes of this provision, through application of the rules of
        Section 424(d) of the Code and (iii) is not a “highly compensated employee” (within the meaning of Section 414(q) of the Code) that is subject to Section 16 of the Securities Exchange Act of 1934, as amended.  The foregoing notwithstanding, an
        individual who is a citizen or resident of a jurisdiction other than the United States (even if he or she is also a citizen of the United States or a resident alien) shall not be considered an Eligible Employee if, as determined in the sole
        discretion of the Committee, (i) his or her participation in the Plan is prohibited by the laws or regulations of any country which has jurisdiction over him or her or (ii) compliance with the laws and regulations of the foreign country that has
        jurisdiction over him or her would cause the Plan or an offering under the 423 Component to violate Section 423 of the Code.

       

      

      (i)         “Employee” means an individual who is a common-law employee of a Participating
        Company and, if such employee is employed in the United States, whose earnings are reported on a Form W-2.  For the avoidance of doubt, the term “Employee” shall not include any consultant, independent contractor or non-employee director of a
        Participating Company.

       

      

      (j)         “Fair Market Value” means, on any given date (i) if the Stock is listed on any
        established U.S. stock exchange or a U.S. national market system, the closing sales price for such Stock (or, if no closing sales price was reported on that date, as applicable, on the last preceding trading date such closing sales price was
        reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; (ii) if (i) does not apply, then if
        the Stock is regularly quoted by a recognized U.S. securities dealer but selling prices are not reported, the mean between the high bid and low asked prices for the Stock on the day of determination (or, if no bids and asks were reported on that
        date, as applicable, on the last preceding trading date such bids and asks were reported); or (iii) if (i) and (ii) do not apply, such value as the Committee in its discretion may in good faith determine in accordance with Section 423 of the Code.

       

      

      (k)        “Non-423 Component” means the portion of the Plan under which the right to purchase Stock may be granted in a manner that is
        not intended to satisfy the requirements of Section 423 of the Code.

       

      

      (l)           “Offering Period” means a period with respect to which the right to purchase Stock may be granted under the Plan, as
        determined pursuant to Section 4(a).

       

      

      
        
          

      

      (m)         “Parent” has the meaning given to such term under U.S. Treasury Regulation Section 1.424-1(f).  As used in this Plan,
        “Parent” shall mean a Parent of the Company.

       

      

      (n)          “Participant” means an Eligible Employee who elects to participate in the
        Plan, as provided in Section 4(b).

       

      

      (o)         “Participating 423 Company” means any of the following that is designated by the Committee as participating in the 423
        Component:  (i) the Company, (ii) any present or future Parent or (iii) any present or future Subsidiary.

       

      

      (p)          “Participating Company” means each Participating 423 Company and Participating
        Non-423 Company.

       

      

      (q)         “Participating Non-423 Company” means any of the following that is designated by the Committee as participating in the
        Non-423 Component:  (i) the Company, (ii) any present or future Parent, (iii) any present or future Subsidiary or (iv) any present or future Affiliate.  Unless determined otherwise by the Committee, only entities incorporated or formed outside of
        the United States shall be Participating Non-423 Companies.

       

      

      (r)          “Plan Account” means the account established for each Participant pursuant to
        Section 8(a).

       

      

      (s)          “Purchase Price” means the price at which Participants may purchase Stock
        under the Plan, as determined pursuant to Section 8(b).

       

      

      (t)          “Subsidiary” means a subsidiary corporation of the Company as that term is
        defined in Section 424(f) of the Code.

       

      

      (u)         “Trading Day” means any day on which the U.S. stock exchange upon which the Stock is listed is open for trading or, if the Stock is not listed on an established U.S. stock exchange or U.S. national market
          system, a business day, as determined by the Committee in good faith.

       

        

      
        	
                SECTION 3.

              	
                ADMINISTRATION OF THE PLAN.

              

      

       

        

      (a)         General.  The Plan shall be administered by the Committee. To the extent permitted by applicable law, the Committee may
        delegate some or all of its authority with respect to the Plan to any executive officer of the Company or any other person or persons designated by the Committee, in each case, acting individually or as a committee.

       

      

      (b)         Committee Authorities.  The Committee shall have the exclusive power and authority to administer the Plan, including
        without limitation the right and power to interpret the provisions of the Plan and make all determinations deemed necessary or advisable for the administration of the Plan (including, without limitation, a determination as to whether a Change in
        Control has occurred, whether to designate the Company, a Parent or Subsidiary as a Participating 423 Company or as a Participating Non-423 Company and whether to establish separate offerings).  All such actions, interpretations and determinations
        which are done or made by the Committee shall be final, conclusive and binding on the Company, the Participating Companies, the Participants and all other parties and shall not subject the Committee (or its members) to any liability.

       

      

      
        
          

      

      
        	
                SECTION 4.

              	
                ENROLLMENT AND PARTICIPATION.

              

      

       

        

      (a)        Offering Periods.  Two Offering Periods shall commence in each calendar year, which shall be the periods commencing on
        January 1 and ending on June 30 and commencing on July 1 and ending on December 31; provided, however, that the first Offering Period may commence on a different date as determined by the Committee, but shall end on June 30 of the year commenced if
        commenced prior to June 30 or on December 31 of the year commenced if commenced after June 30.

        

      

      (b)        Enrollment.  Any individual who, on the day preceding the first day of an
        Offering Period, qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering Period by executing the enrollment form prescribed for this purpose by the Committee.  The enrollment form shall be filed with the
        Company or its designee according to procedures established by the Committee.

       

      

      (c)         Duration of Participation.  Once enrolled in the Plan, a Participant shall continue to participate in the Plan (according
        to the elections made on the Participant’s most recently-filed enrollment form) until he or she ceases to be an Eligible Employee, withdraws from the Plan under Section 6(a) or reaches the end of the Offering Period in which his or her
        contributions were discontinued under Section 5(c) or Section 9(b).  A Participant who discontinued his or her contributions under Section 5(c) or withdrew from the Plan under Section 6(a) may again become a Participant, if he or she then is an
        Eligible Employee, by following the procedure described in Section 4(b).  A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the next Offering
        Period in which such Participant’s participation would not be limited by Section 9(b), if he or she then is an Eligible Employee.

      

      

      
        	
                SECTION 5.

              	
                EMPLOYEE CONTRIBUTIONS.

              

      

       

        

      (a)        Frequency of Employee Contributions.  A Participant may make contributions to
        the Plan for purchasing shares of Stock by means of payroll deductions (unless payroll deductions are not permitted under applicable laws or regulations or unless the Company determines that another means of making employee contributions is
        necessary or appropriate for legal or administrative reasons).

       

      

      (b)         Amount of Employee Contributions.  An Eligible Employee shall designate on the enrollment form the portion of his or her
        Compensation that he or she elects to contribute to the Plan with respect to the applicable Offering Period.  Such portion shall be a whole percentage of the Eligible Employee’s Compensation, on an after-tax basis, but not less than 1% nor more
        than 25% of the Eligible Employee’s Compensation with respect to the applicable Offering Period.  A Participant may not change the rate of his or her contributions during an Offering Period unless the Participant seeks (i) to discontinue
        contributions under Subsection (c) or (ii) to withdraw from the Plan under Section 6(a), and, in either such case, the Company will cease contributions on behalf of the Participant as soon as reasonably practicable (which shall not be until the
        payroll period following receipt of the applicable form or later).

       

      

      (c)         Discontinuing Employee Contributions.  A Participant may discontinue contributions by filing a new enrollment form.  Any
        contributions made from payroll shall cease as soon as reasonably practicable (which shall not be until the payroll period following receipt or later).  A Participant who has discontinued employee contributions may not resume such contributions
        until the next Offering Period.  If a Participant discontinues contributions, previously made contributions shall remain in the Participant’s Plan Account (and will be used to purchase shares) unless and until the Participant withdraws from the
        Plan in accordance with the provisions of Section 6.

       

      

      
        
          

      

      
        	
                SECTION 6.

              	
                WITHDRAWAL FROM THE PLAN.

              

      

       

        

      (a)         Withdrawal.  A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company or its
        designee at any time before the last day of an Offering Period.  As soon as reasonably practicable thereafter, contributions shall cease and all employee contributions made by the Participant for the current Offering Period shall be refunded to the
        Participant in cash, without interest.  No partial withdrawals shall be permitted.

       

      

      (b)         Re-enrollment After Withdrawal.  A former Participant who has withdrawn from the Plan shall not be a Participant until he
        or she re-enrolls in the Plan under Section 4(b).  Re-enrollment shall be effective only at the commencement of an Offering Period.

      

      

      
        	
                SECTION 7.

              	
                CHANGE IN EMPLOYMENT STATUS.

              

      

       

        

      (a)         Termination of Employment.  Termination of employment with a Participating Company, or otherwise ceasing to be an Eligible
        Employee, for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6(a), unless, with respect to an offering under the Non-423 Component, otherwise required by applicable laws or regulations.  A
        transfer from one Participating Company to another shall not be treated as a termination of employment.

       

      

      (b)         Leave of Absence.  For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a
        military leave, a sick leave or another bona fide leave of absence, if the leave was approved by a Participating Company in writing or if such leave of absence is protected under applicable laws or regulations.  Employment shall be deemed to
        terminate in any event when the approved leave ends, unless the Participant immediately returns to work.

       

      

      (c)         Death.  In the event of the Participant’s death, any amounts then held in the Participant’s Plan Account and any shares of
        Stock then held in the Participant’s name by the Company or the broker designated by the Company shall be paid or transferred to the Participant’s estate or as otherwise required by applicable laws of descent and distribution, or as may be
        otherwise provided pursuant to Section 8(e).

       

      

      
        	
                SECTION 8.

              	
                PLAN ACCOUNTS AND PURCHASE OF SHARES.

              

      

       

        

      (a)       Plan Accounts.  The Company shall maintain a Plan Account on its books in the name of each Participant.  Whenever an amount
        is contributed to the Plan, such amount shall be credited to the Participant’s Plan Account.  Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the general assets of the Company or any Parent or Subsidiary and
        applied to general corporate purposes, unless otherwise required by applicable law or regulation.  Unless required by applicable law or regulation, no interest will be paid or credited with respect to any amounts held in a Participant’s Plan
        Account.

       

      

      
        
          

      

      (b)         Purchase Price.  The Purchase Price for each share of Stock purchased at the
        close of an Offering Period shall be the lesser of:

       

      

      (i)          85% of the Fair Market Value of such share on the last Trading Day of such Offering Period; or

       

      

      (ii)         85% of the Fair Market Value of such share on the first Trading Day of such Offering Period.

       

      

      The Committee may round the Purchase Price up (but not down) to a whole cent, and in no event shall the Purchase Price be less than the par value of the shares of Stock being
        purchased.

       

      

      (c)         Number of Shares Purchased.  As of the last day of each Offering Period, each
        Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the Participant has withdrawn from the Plan under Section 6(a) or Section 7.  The amount then in the
        Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased with the funds in the Participant’s Plan Account.  The foregoing notwithstanding, no Participant shall purchase more than
        5,000 shares of Stock (subject to adjustment pursuant to Section 14(b)) with respect to any Offering Period (or, if the Board determines that a different number of Offering Periods shall commence in each calendar year in accordance with Section
        4(a), a proportionate number of shares of Stock (subject to adjustment pursuant to Section 14(b)) with respect to any Offering Period) nor more than the amounts of Stock set forth in Sections 9(b) and 14(a).  Unless otherwise determined by the
        Committee, any fractional share, as calculated under this Subsection (c), shall be rounded down to the next lower whole share, with the Purchase Price for such fractional share to be carried over to the next Offering Period as provided in Section
        8(g).  To the extent permitted by law, the Committee may adjust the individual share limit set forth in this Section 8(c) from time to time without shareholder approval, provided that any such change shall not apply until the Offering Period
        commencing after such change is made.

      

      

      (d)        Available Shares Insufficient.  In the event that the aggregate number of
        shares of Stock that all Participants elect to purchase during an Offering Period exceeds the maximum number of shares of Stock remaining available for issuance under Section 14(a), then the number of shares of Stock each Participant shall purchase
        shall be determined by multiplying the number of shares of Stock available for issuance by a fraction, the numerator of which is the number of shares of Stock that such Participant has elected to purchase and the denominator of which is the number
        of shares of Stock that all Participants have elected to purchase.

       

      

      (e)         Issuance of Shares.  Shares of Stock shall be issued either in book entry form
        or in certificates.  Certificates, if any, representing the shares of Stock purchased by a Participant under the Plan shall be issued to the Participant, or book entry in the Participant’s name shall be made, as soon as reasonably practicable after
        the close of the applicable Offering Period, except that the Committee may determine that such certificates shall be held for each Participant’s benefit by a broker designated by the Committee.  Shares may be registered in the name of the
        Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of survivorship or as community property or in such other manner of taking title as may be permitted under applicable law or regulation;
        provided, however, that unless otherwise required by applicable law or specified by the Participant in writing, shares of Stock purchased under the Plan will be registered in the name of the Participant.

       

      

      
        
          

      

      (f)         Transfer of Shares.  If certificates representing shares of Stock are not
        otherwise issued to the Participant in connection with the purchase of such shares at the end of an Offering Period, a Participant may elect to transfer any number of shares of Stock previously purchased under the Plan by providing notification and
        transfer instructions to Company or the broker designated by the Company, in accordance with procedures established under the Plan.  As soon as administratively practicable following receipt of a Participant’s election to transfer shares of Stock,
        the Company or the designated broker shall cause a transfer of the shares or a certificate representing the number of shares to be transferred to be delivered to the Participant or a broker designated by the Participant.

       

      

      (g)        Unused Cash Balances.  Any amount remaining in the Participant’s Plan Account
        that represents the Purchase Price for shares that could not be purchased by reason of Subsection (c) above, Section 9(b) or Section 14(a) or otherwise shall be carried forward and applied toward the purchase of whole shares for the next following
        Offering Period, subject to earlier withdrawal by the Participant in accordance with Section 6 or termination of employment or cessation as an Eligible Employee in accordance with Section 7.

       

      

      
        	
                SECTION 9.

              	
                LIMITATIONS ON STOCK OWNERSHIP.

              

      

       

        

      (a)         Five Percent Limit.  Any other provision of the Plan notwithstanding, no
        Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing 5% or more of the total combined voting power or value of all
        classes of stock of the Company or any Parent or Subsidiary.  For purposes of this Subsection (a), the following rules shall apply:

       

      

      (i)          the attribution rules of Section 424(d) of the Code shall be applied in determining ownership of Stock;

       

      

      (ii)        each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this Plan or any
        other plan or arrangement; and

       

      

      (iii)       each Participant shall be deemed to have the right to purchase under this Plan with respect to each Offering Period 5,000 shares of Stock (as adjusted pursuant to
        Section 8(c)), subject to adjustment pursuant to Section 14(b).

       

      

      (b)         Dollar Limit.  Any other provision of the Plan notwithstanding, consistent
        with Treasury Regulation Section 1.423-2(i), no Participant shall purchase Stock under this Plan and all other employee stock purchase plans of the Company or any Parent or Subsidiary at a rate that exceeds $25,000 in fair market value of the Stock
        (determined at the time the option is granted) for each calendar year in which any option granted to the Participant is outstanding at any time.

       

      

      For purposes of this Subsection (b), the Fair Market Value of Stock shall be determined as of the beginning of the Offering Period in which such Stock is
        purchased.  Employee stock purchase plans not described in Section 423 of the Code shall be disregarded.  If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan, then his or her employee contributions
        shall automatically be discontinued, and shall resume (in accordance with the Participant’s most recently-filed enrollment form) at the beginning of the earliest Offering Period in which this Section 9(b) would not prohibit such participation,
        provided that he or she then is an Eligible Employee.

       

      

      
        
          

      

      
        	
                SECTION 10.

              	
                RIGHTS NOT TRANSFERABLE.

              

      

       

        

      The rights of any Participant under the Plan, or the interest in any Stock or moneys to which any Participant may be entitled under
        the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any manner other than by beneficiary designation or the laws of descent and distribution.  If a Participant attempts to transfer, assign or
        otherwise encumber his or her rights or interest under the Plan, other than as permitted by this Section 10, such act shall be treated as an election by the Participant to withdraw from the Plan under Section 6(a).

      

      

      
        	
                SECTION 11.

              	
                NO RIGHTS AS AN EMPLOYEE.

              

      

       

        

      Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a
        Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or
        her employment at any time and for any reason, with or without cause, to the fullest extent permitted by applicable laws or regulations.

       

      

      
        	
                SECTION 12.

              	
                NO RIGHTS AS A STOCKHOLDER.

              

      

       

        

      A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase
        under the Plan until such shares have been purchased on the last day of the applicable Offering Period.

       

      

      
        	
                SECTION 13.

              	
                SECURITIES LAW REQUIREMENTS.

              

      

       

        

      Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are exempt from)
        all applicable requirements of law, including, without limitation, the U.S. Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, all state securities laws and regulations, any applicable non-U.S. securities laws and
        regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities are then traded.

       

      

      
        	
                SECTION 14.

              	
                STOCK OFFERED UNDER THE PLAN.

              

      

       

        

      (a)          Authorized Shares.  The aggregate number of shares of Stock available for purchase under the Plan as of the Effective Date
        shall be 250,000, and on January 1st of each year during which the Plan is in effect, the number of shares available for purchase under the Plan shall be increased by the lesser of (x) 1.0% of the number of shares of Stock outstanding as of the
        immediately preceding December 31 (calculated on a fully diluted basis), (y) 50,000 shares of Stock and (z) such lesser number of shares of Stock as the Board may determine, in each case, as subject to adjustment as provided in this Section 14. 
        Shares of Stock issued under the Plan may be shares already outstanding or newly issued or treasury shares.

       

      

      
        
          

      

      (b)        Changes in Capitalization.  In the event of a reorganization, recapitalization, stock split, spin-off, split-off, split-up,
        stock or extraordinary cash dividend or other distribution, combination of shares, merger, amalgamation, consolidation or any other change in the corporate structure of the Company, or a sale by the Company of all or part of its assets, the
        Committee shall make such adjustments to the aggregate number of shares of Stock offered under the Plan, the maximum annual increase number in clause (y) of Section 14(a), the share limitation described in Section 8(c) (and the corresponding number
        of shares specified in clause (iii) of Section 9(a)) and/or the price of shares that any Participant has elected to purchase under the Plan as may be necessary to prevent the dilution or enlargement of Participants’ rights.  The Plan shall in no
        event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, amalgamation, consolidation or other reorganization or corporate transaction of any kind or type.

       

      

      (c)         Change in Control.  Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Change in
        Control, the Plan shall terminate and shares shall be purchased pursuant to Section 8 as if the Offering Period during which such Change in Control occurs was scheduled to end on the day immediately preceding such Change in Control, unless the Plan
        is expressly assumed by the surviving corporation, the buyer or an affiliate of the foregoing.  In addition, in anticipation of a Change in Control, the Committee may take any action under the Plan as it deems necessary or appropriate, including,
        without limitation, terminating the Plan and preventing Participants from continuing or increasing their contributions to the Plan.

       

      

      
        	
                SECTION 15.

              	
                WITHHOLDING

              

      

       

        

      To the extent any payments or distributions under the Plan are determined by any Participating Company to be subject to U.S. Federal,
        state or local taxes, or the taxes of a jurisdiction other than the United States, the Participating Company is authorized (but not obligated) to withhold any required taxes.  The Participating Company may satisfy any withholding obligation by (i)
        withholding shares of Stock purchased under the Plan; (ii) withholding from the proceeds from the sale of shares of Stock purchased under the Plan, either through a voluntary sale or through a mandatory sale arranged by the Company; (iii) deducting
        cash from a Participant’s Plan Account; (iv) deducting cash from a Participant’s other cash compensation payable to him or her by any Participating Company or (v) any other method deemed appropriate by the Participating Company, in each case, as
        approved by the Committee.  A Participant’s election to participate in the Plan authorizes any Participating Company to take any of the actions described in the preceding sentence.

       

      

      
        	
                SECTION 16.

              	
                GOVERNING LAW

              

      

       

        

      To the extent that U.S. Federal laws do not otherwise control, the validity and construction of the Plan shall be construed and
        enforced in accordance with the laws of the State of Delaware, without giving effect to the choice of law principles thereof.

       

      

      
        
          

      

      
        	
                SECTION 17.

              	
                NON-423 COMPONENT AND SUB-PLANS

              

      

       

        

      The Board and/or the Committee may adopt procedures and sub-plans to this Plan that are necessary or appropriate to permit or
        facilitate participation in the Plan by Eligible Employees who are employed or located in a jurisdiction other than the United States or to generally operate the Plan in jurisdictions outside the United States (provided that such would not result
        in (i) the Plan failing to be eligible to qualify under Section 423 of the Code or (ii) any offering under the 423 Component not complying with Section 423 of the Code).  Without limiting the generality of, but consistent with, the foregoing, the
        Board and/or the Committee are expressly authorized to adopt rules, procedures, and sub-plans, which, for purposes of the Non-423 Component, may be beyond the scope of Section 423 of the Code, regarding, without limitation, eligibility to
        participate in the Plan, excluding Employees in certain countries under the Non-423 Component (even if employed by a Participating Company), handling and making of employee contributions under the Plan, satisfying payroll taxes, determining
        beneficiaries, withholding procedures and issuances of Stock, any of which may vary from time to time and between jurisdictions, as determined by the Board and/or the Committee.

      

      

      
        	
                SECTION 18.

              	
                TAX QUALIFICATION.

              

      

       

        

      The 423 Component is intended to be exempt from the application of Section 409A of the Code under Section 1.409A-1(b)(5)(ii) of the
        U.S. Treasury Regulations.  Purchases of stock by Participants who are U.S. taxpayers participating in the Non-423 Component are intended to be exempt from the application of Section 409A of the Code under the short-term deferral exception and any
        ambiguities will be construed and interpreted in accordance with such intent.  Subject to the provisions of this Section 18, Participants who are U.S. taxpayers participating in the Non-423 Component shall be subject to such terms and conditions as
        shall permit his or her participation in the Plan to satisfy the requirements of the short-term deferral exception to Section 409A of the Code, including the requirement that the shares subject to the right to purchase Stock under the Plan be
        delivered within the short-term deferral period.  The foregoing notwithstanding, neither the Company nor any Parent or Subsidiary shall have any liability to a Participant or any other person if the right to purchase Stock under the Plan that is
        intended to be exempt from or compliant with Section 409A of the Code is not so exempt or compliant or for any action taken by the Committee, the Board, the Company or any Parent or Subsidiary in relation thereto.  Although the Company may endeavor
        to (i) qualify the 423 Component or Non-423 Component for special tax treatment under the laws and regulations of the United States or of a jurisdiction other than the United States or (ii) avoid adverse tax treatment (e.g., under Section 409A of
        the Code), the Company makes no representation to that effect and expressly disavows any covenant to maintain special or to avoid unfavorable tax treatment, any other provision of the Plan notwithstanding, including this Section 18.  The Company
        and each Parent and Subsidiary shall be unconstrained in their corporate activities without regard to any potentially negative tax impact on any one or more Participants.

       

      

      
        	
                SECTION 19.

              	
                SEVERABILITY.

              

      

       

        

      If any particular provision of the Plan is found to be invalid or otherwise unenforceable, such provision shall not affect the other
        provisions of the Plan, and the Plan shall be construed in all respects as if such invalid provision were omitted.

      

      

      
        	
                SECTION 20.

              	
                AMENDMENT AND TERMINATION.

              

      

       

        

      The Board shall have the right to amend, suspend or terminate the Plan, and to shorten an Offering Period (and refund Participant
        contributions in the event of any such shortening, suspension or termination) at any time and without notice.  Except as provided in Section 14, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to
        approval by a vote of the stockholders of the Company.  In addition, any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by applicable law, rule or regulation, including,
        without limitation, Section 423 of the Code.

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