Document:

EX-10.2

 Exhibit 10.2 

HYATT HOTELS CORPORATION 

SECOND AMENDED AND RESTATED EMPLOYEE STOCK PURCHASE PLAN 

ARTICLE I. 
 PURPOSE,
SCOPE AND ADMINISTRATION OF THE PLAN 
 1.1 Purpose and Scope. The purpose of the Hyatt Hotels Corporation Second Amended and
Restated Employee Stock Purchase Plan (the “Plan”) is to assist employees of Hyatt Hotels Corporation and its Designated Subsidiaries in acquiring a stock ownership interest in the Company pursuant to a plan which is intended to
qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code of 1986, as amended. 
 1.2
Administration of Plan. The Plan shall be administered by the Committee. The Committee shall have the power to make, amend and repeal rules and regulations for the interpretation and administration of the Plan consistent with the
qualification of the Plan under Section 423 of the Code, and the Committee also is authorized to change the Offering Periods and Exercise Dates under the Plan by providing notice to all Eligible Employees as soon as practicable prior to the
date on which such changes will take effect. The Committee may delegate administrative tasks under the Plan to one or more Employees of the Company. The Committee’s interpretation and decisions with respect to the Plan shall be final and
conclusive. 
 ARTICLE II. 

DEFINITIONS 
 Whenever the
following terms are used in the Plan, they shall have the meaning specified below unless the context clearly indicates to the contrary. The singular pronoun shall include the plural where the context so indicates. 

2.1 “Administrator” shall mean the Committee, or such individuals to which authority to administer the Plan has been delegated
under Section 1.2. 
 2.2 “Board” shall mean the Board of Directors of the Company. 

2.3 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

2.4 “Committee” shall mean the Compensation Committee of the Board. 

2.5 “Common Stock” shall mean the Class A common stock of the Company, par value $0.01 per share. 

2.6 “Company” shall mean Hyatt Hotels Corporation, a Delaware corporation. 

2.7 “Compensation” shall mean the base wages, overtime, incentive compensation, commissions, service charges, shift
differentials, vacation pay, salaried production schedule premiums, holiday pay, jury duty pay, bereavement leave pay, military pay, prior week adjustments and weekly bonus paid to an Employee by the Company or a Designated Subsidiary in accordance
with established payroll procedures. 

 2.8 “Designated Subsidiary” shall mean the Subsidiaries that have been
designated by the Committee from time to time in its sole discretion as eligible to participate in one or more Offering Periods under the Plan, including any Subsidiary in existence on the Effective Date and any Subsidiary formed or acquired
following the Effective Date. As of the Effective Date, Exhibit A of the Plan, attached hereto, provides a non-exclusive list of Subsidiaries considered to be Designated Subsidiaries that are eligible
to participate in the Plan if, when and on such terms as may be determined by the Committee. The designation of a Subsidiary as a Designated Subsidiary shall not entitle any Eligible Employee of any such Subsidiary to participate in the Plan with
respect to any Offering Period unless the Committee selects such Subsidiary as an Eligible Designated Subsidiary with respect to the applicable Offering Period in accordance with Section 3.1(a). 

2.9 “Effective Date” shall mean the date the Plan (i.e., the Second Amended and Restated Employee Stock Purchase Plan)
is approved by stockholders of the Company in accordance with the Company’s bylaws, articles of incorporation and applicable state law within twelve (12) months of the date the Plan is adopted by the Board. 

2.10 “Eligible Designated Subsidiary” means, with respect to any Offering Period, a Designated Subsidiary that has been
selected by the Committee to participate in such Offering Period. 
 2.11 “Eligible Employee” shall mean an Employee who
(a) has been employed at least one year and (b) after the granting of the Option would not be deemed for purposes of Section 423(b)(3) of the Code to possess 5% or more of the total combined voting power or value of all classes of
stock of the Company or any Subsidiary. For purposes of clause (b), the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock which an
Employee may purchase under outstanding options shall be treated as stock owned by the Employee. Notwithstanding the foregoing the Administrator may exclude from participation in the Plan as an Eligible Employee any Employee who is a citizen or
resident of a foreign jurisdiction (without regard to whether they are also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code) if either (i) the grant of the Option is prohibited
under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of the foreign jurisdiction would cause the Plan or the Option to violate the requirements of Section 423 of the Code. 

2.12 “Employee” shall mean any person who renders services to the Company or a Designated Subsidiary in the status of an
employee within the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or a Designated Subsidiary who does not render services to the Company or a Designated Subsidiary in the status of an
employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or
Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three (3) months and the individual’s right to reemployment is
not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three (3)-month period. 

  
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 2.13 “Enrollment Date” shall mean the first Trading Day of each Offering
Period. 
 2.14 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

2.15 “Exercise Date” except as provided in Section 5.2, shall mean the last Trading Day of each calendar quarter. 

2.16 “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(a) If the Common Stock is listed on any established stock exchange or a national market system, its Fair Market Value shall be the closing
sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the Exercise Date, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(b) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall
be the mean of the closing bid and asked prices for the Common Stock on the Exercise Date as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 

(c) In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the
Administrator. 
 2.17 “Offering Period” shall mean the period commencing on the first day of each calendar quarter and
terminating on the last Trading Day of such calendar quarter. 
 2.18 “Option” shall mean the right to purchase shares of
Common Stock pursuant to the Plan during each Offering Period. 
 2.19 “Option Price” shall mean the purchase price of a
share of Common Stock hereunder as provided in Section 4.2 below. 
 2.20 “Parent” means any corporation, other than
the Company, in an unbroken chain of corporations ending with the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain. 
 2.21 “Participant” shall mean any Eligible Employee who (i) is
employed at the Company or who is employed at a Designated Subsidiary that is selected by the Committee as an Eligible Designated Subsidiary, eligible to participate in the Plan with respect to the applicable Offering Period and (ii) who elects
to participate in the Plan. 

  
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 2.22 “Plan” shall mean this Hyatt Hotels Corporation Employee Stock
Purchase Plan, as it may be amended from time to time. 
 2.23 “Plan Account” shall mean a bookkeeping account established
and maintained by the Company in the name of each Participant. 
 2.24 “Subsidiary” shall mean any corporation, other than
the Company, in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent either (i) such entity is treated as a
disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary which is a corporation being the sole owner of such entity, or (ii) such entity
elects to be classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. 

2.25 “Trading Day” shall mean a day on which national stock exchanges are open for trading. 

ARTICLE III. 

PARTICIPATION 
 3.1
Eligibility. 
 (a) Any Eligible Employee who shall be employed by (i) the Company or, (ii) a Designated Subsidiary that is
selected by the Committee in its sole discretion as an Eligible Designated Subsidiary with respect to the applicable Offering Period, in each case, on a given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during
such Offering Period, subject to the requirements of Articles IV and V, and the limitations imposed by Section 423(b) of the Code and the Treasury Regulations thereunder; provided, that the Committee may in its sole discretion change which
Designated Subsidiaries (if any) are Eligible Designated Subsidiaries from Offering Period to Offering Period to the greatest extent permitted under Section 423(b) of the Code and the Treasury Regulations thereunder. 

(b) No Eligible Employee shall be granted an Option under the Plan which permits Employee’s rights to purchase stock under the Plan, and
to purchase stock under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to the Section 423, to accrue at a rate which exceeds $25,000 of Fair Market Value of such stock (determined at the time the
option is granted) for each calendar year in which the Option is outstanding at any time. For purposes of the limitation imposed by this subsection, the right to purchase stock under an Option accrues when the Option (or any portion thereof) first
becomes exercisable during the calendar year, the right to purchase stock under an Option accrues at the rate provided in the Option, but in no case may such rate exceed $25,000 of Fair Market Value of such stock (determined at the time such option
is granted) for any one calendar year, and a right to purchase stock which has accrued under an Option may not be carried over to any other Option. This limitation shall be applied in accordance with Section 423(b)(8) of the Code and the
Treasury Regulations thereunder. 

  
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 3.2 Election to Participate; Payroll Deductions 

(a) Except as provided in Section 3.3, an Eligible Employee may participate in the Plan only by means of payroll deduction. An Eligible
Employee may elect to participate in the Plan by delivering to the Company by such time designated by the Administrator preceding the Enrollment Date for such Offering Period a payroll deduction authorization in such manner as prescribed by the
Administrator. 
 (b) Each payroll deduction authorization shall designate a whole percentage of such Eligible Employee’s Compensation
to be withheld by the Company or the Designated Subsidiary employing such Eligible Employee on each payday during the Offering Period as payroll deductions under the Plan. The designated percentage shall be equal to at least 1%, but not more than
15%, of the Participant’s Compensation, subject to the provisions of Section 3.1 hereof. Amounts deducted from a Participant’s Compensation pursuant to this Section 3.2 shall be credited to the Participant’s Plan
Account. 
 (c) A Participant’s election to participate in the Plan with respect to an Offering Period shall enroll such Participant in
the Plan for each successive Offering Period at the same payroll deduction percentage as in effect at the termination of the prior Offering Period, unless such Participant delivers to the Company a different election with respect to the successive
Offering Period by such time and in such manner as is designated by the Administrator for enrollment in the Plan for such successive Offering Period, or unless such Participant becomes ineligible for participation in the Plan (including by reason of
the Designated Subsidiary that employs such Participant not being selected by the Committee as an Eligible Designated Subsidiary, eligible to participate in the applicable Offering Period in accordance with Section 3.1(a)). 

3.3 Leave of Absence. During leaves of absence approved by the Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her normal payday equal to his or her authorized payroll deduction.

 3.4 Foreign Employees. In order to facilitate participation in the Plan, the Administrator may provide for such special terms
applicable to Participants who are citizens or residents of a foreign jurisdiction, who are foreign nationals or who are employed outside of the U.S., as the Administrator may consider necessary or appropriate to accommodate differences in local
law, tax policy or custom. Moreover, the Administrator may approve such supplements, appendices or sub-plans to, or amendments, restatements or alternative versions of, this Plan as it may consider necessary
or appropriate for such purposes, subject to Section 7.5 below. To the extent that any such supplements, appendices or sub-plans conflict with the terms of the Plan, the terms of the appendix or sub-plan shall control. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures under this Section 3.4 regarding the exclusion of
Subsidiaries from participation in the Plan, eligibility to participate, the definition of Compensation, the handling of payroll deductions or other contributions by 

  
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Participants, the payment of interest, the conversion of local currency, data privacy security, payroll taxes, withholding procedures, the establishment of bank or trust accounts to hold payroll
deductions or contributions, the determination of beneficiary designation requirements and the handling of stock certificates. The Administrator also is authorized to determine that, to the extent permitted by U.S. Treasury Regulation Section 1.423-2(f), the terms of any right to purchase shares of Common Stock granted under the Plan during any Offering Period to citizens or residents of a non-U.S.
jurisdiction will be less favorable (but not more favorable) than the terms of rights to purchase shares of Common Stock granted under the Plan to Employees who reside in the U.S. 

ARTICLE IV. 
 PURCHASE OF
SHARES 
 4.1 Grant of Option. Subject to the limitations of Section 3.1(b), each Participant participating in such Offering
Period shall be granted an Option to purchase on the Exercise Date for such Offering Period (at the applicable Option Price) up to a number of shares of Common Stock determined by dividing such Participant’s payroll deductions accumulated prior
to such Exercise Date and retained in the Participant’s Plan Account on such Exercise Date by the applicable Option Price; provided that in no event shall a Participant be permitted to purchase during any Offering Period more than 6,250 shares
of Common Stock (subject to any adjustment pursuant to Section 5.2). The Administrator may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a Participant may
purchase during such future Offering Periods. The Option shall expire on the last day of the Offering Period. 
 4.2 Option Price. The
Option Price per share of the Common Stock sold to Participants hereunder for any given Offering Period shall be determined by the Committee, provided, that in all events, the Option Price shall be equal to or greater than 85% of the lesser
of: (1) the Fair Market Value of a share of Common Stock on the Date of Exercise for such Offering Period and (2) the Fair Market Value of a share of Common Stock on the date of grant for such Offering Period. 

4.3 Purchase of Shares. 

(a) On each Exercise Date on which he or she is employed, each Participant will automatically and without any action on his or her part be
deemed to have exercised his or her Option to purchase at the Option Price the largest number of whole and fractional shares of Common Stock which can be purchased with the amount in the Participant’s Plan Account. 

(b) As soon as practicable following each Exercise Date, the number of whole and fractional shares of Common Stock purchased by such
Participant pursuant to subsection (a) above will be delivered, in the Company’s sole discretion, to either (i) the Participant, or (ii) an account established in the Participant’s name at a stock brokerage or other
financial services firm designated by the Company. If the Company is required to obtain from any commission or agency authority to issue any such shares of Common Stock, the Company will seek to obtain such authority. Inability of the Company to
obtain from any such commission or agency authority which counsel for the Company deems necessary for the lawful issuance of any such shares shall relieve the Company from liability to any Participant except to refund to him or her the amount
withheld. 
 (c) A Participant shall have the right at any time to request in writing a certificate or certificates for all or a portion of
the whole and fractional shares of Common Stock purchased hereunder. Upon receipt of a Participant’s written request for any such certificate, the Company shall (or shall cause its agent to), deliver any such certificate to the Participant as
soon as practicable thereafter. 

  
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 4.4 Transferability of Rights. An Option granted under the Plan shall not be
transferable and is exercisable only by the Participant. No option or interest or right to the option shall be available to pay off any debts, contracts or engagements of the Participant or his or her successors in interest or shall be
subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempt at disposition of the option shall have no effect. 
 ARTICLE V. 

PROVISIONS RELATING TO COMMON STOCK 

5.1 Common Stock Reserved. Subject to adjustment as provided in Section 5.2, there shall be 1,650,000 shares of Common Stock
reserved for issuance and sale under the Plan. Such share reserve includes (i) the 1,000,000 shares of Common Stock previously reserved for issuance under the Plan (“Original Reserve”), plus (ii) an increase of 650,000
shares of Common Stock approved by the Board on March 25, 2020, subject to and effective upon stockholder approval at the Company’s 2020 Annual Meeting of Stockholders. Shares of Common Stock made available for sale under the Plan may be
authorized but unissued or reacquired shares reserved for issuance under the Plan. 
 5.2 Adjustments Upon Changes in Capitalization,
Dissolution, Liquidation, Merger or Asset Sale. 
 (a) Changes in Capitalization. Subject to any required action by the
stockholders of the Company, the number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under Option, as well as the price per share and the number of shares of Common Stock covered by each Option
under the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Common Stock, or any other increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities
of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. Except as
expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price
of shares of Common Stock subject to an Option. 

  
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 (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Offering Period then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such proposed dissolution or
liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator shall notify each Participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise
Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof. 
 (c)
Merger or Asset Sale. In the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the Company with or into another corporation, where the Company is not the surviving entity, each outstanding
Option shall be assumed or an equivalent Option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, any Offering
Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger.
The Administrator shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the
Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof. 

5.3 Insufficient Shares. If the Administrator determines that, on a given Exercise Date, the number of shares with respect to which
Options are to be exercised may exceed (i) the number of shares of Common Stock that were available for issuance under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares available for sale under
the Plan on such Exercise Date, the Administrator shall make a pro rata allocation of the shares of Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be practicable and as it shall determine in its sole
discretion to be equitable among all Participants exercising Options to purchase Common Stock on such Exercise Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods shall take place and the Plan
shall terminate pursuant to Section 7.5 hereof. The Company may make pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of
additional shares for issuance under the Plan by the Company’s shareholders subsequent to such Enrollment Date. If the Plan is so terminated, then the balance of the amount credited to the Participant’s Plan Account which has not been
applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after such Exercise Date, without any interest thereon. 

  
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 ARTICLE VI. 

TERMINATION OF PARTICIPATION 

6.1 Cessation of Contributions; Voluntary Withdrawal. 

(a) A Participant may cease payroll deductions during an Offering Period by delivering written or electronic notice of such cessation to the
Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator. Upon any such cessation, the Participant shall elect to withdraw from the Plan pursuant to subsection
(b) below. Upon receipt of a notice of withdrawal from the Plan, the Participant’s payroll deduction authorization and his or her Option to purchase under the Plan shall terminate. 

(b) A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her eligibility to participate in any
similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant withdraws. 

(c) A Participant who ceases contributions to the Plan during any Offering Period shall not be permitted to resume contributions to the Plan
during that Offering Period. 
 6.2 Termination of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee, for any
reason, he or she shall be deemed to have elected to withdraw from the Plan and the Participant’s Plan Account shall be paid to such Participant as soon as reasonably practicable, and such Participant’s Option for the Offering Period shall
be automatically terminated. Notwithstanding the foregoing, in the case of a Participant’s death during an Offering Period, the Participant’s Plan Account containing any cash will be refunded in the Participant’s last normal payroll
to be administered by the executor or administrator of the Participant’s estate. Any previously purchased Common Stock will be paid to the Participant’s estate by the stock brokerage or financial services firm upon request by the executor
or administrator of the Participant’s estate. 
 ARTICLE VII. 

GENERAL PROVISIONS 
 7.1
Administration. 
 (a) It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with
the provisions of the Plan. The Administrator shall have the power to interpret the Plan and the terms of the options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to
interpret, amend or revoke any such rules. The Administrator at its option may utilize the services of an agent to assist in the administration of the Plan including establishing and maintaining an individual securities account under the Plan for
each participant. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan. 

  
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 (b) All expenses and liabilities incurred by the Administrator in connection with the
administration of the Plan shall be borne by the Company. The Administrator may, with the approval of the Committee, employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers
and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all
Participants, the Company and all other interested persons. No member of the Board or Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the options, and all
members of the Board or Administrator shall be fully protected by the Company in respect to any such action, determination, or interpretation. 

7.2 Reports. Individual accounts shall be maintained for each Participant in the Plan. Statements of Plan Accounts shall be given to
Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option Price, the number of shares purchased and the remaining cash balance, if any. 

7.3 Condition of Employment. Neither the creation of the Plan nor an Employee’s participation therein shall be deemed to create a
contract of employment, any right of continued employment or in any way affect the right of the Company or a Subsidiary to terminate an Employee at any time with or without cause. 

7.4 Rights as Stockholders. With respect to shares of Common Stock subject to an Option, a Participant shall not be deemed to be a
stockholder and shall not have any of the rights or privileges of a stockholder. A Participant shall have the rights and privileges of a stockholder when, but not until, a certificate has been issued to him or her following exercise of his or her
Option. 
 7.5 Amendment and Termination of the Plan 

(a) The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and from time to time; provided, however, that
without approval of the Company’s stockholders given within twelve (12) months before or after action by the Board, the Plan may not be amended to increase the maximum number of shares subject to the Plan or change the designation or class
of Eligible Employees. 
 (b) Without stockholder consent and without regard to whether any participant rights may be considered to have
been “adversely affected,” the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to
amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding
elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with amounts withheld from the
Participant’s Compensation, select one or more Designated Subsidiaries as Eligible Designated Subsidiaries, eligible to participate in any applicable Offering Period(s) in accordance with Section 3.1(a), and establish such other
limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 

  
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 (c) In the event the Administrator determines that the ongoing operation of the Plan may
result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to:

 (i) altering the Option Price for any Offering Period including an Offering Period underway at the time of the change in
Option Price; 
 (ii) shortening any Offering Period so that the Offering Period ends on a new Exercise Date, including an
Offering Period underway at the time of the Administrator action; and 
 (iii) allocating shares of Common Stock. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

(d) Upon termination of the Plan, the balance in each Participant’s Plan Account shall be refunded as soon as practicable after such
termination, without any interest thereon. 
 7.6 Use of Funds; No Interest Paid. All funds received by the Company by reason of
purchase of Common Stock under the Plan will be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose. No interest will be paid to any Participant or credited under the Plan.

 7.7 Term; Approval by Stockholders. The Plan shall terminate on the tenth anniversary of the Effective Date, unless earlier
terminated by action of the Board. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan will be submitted for the approval of the Company’s stockholders within twelve (12) months
after the date of the Board’s initial adoption of the Plan. Options may be granted prior to such stockholder approval; provided, however, that such Options shall not be exercisable prior to the time when the Plan is approved by the
stockholders; provided further that if such approval has not been obtained by the end of said twelve (12)-month period, all Options previously granted under the Plan shall thereupon be canceled and become null and void. 

7.8 Effect Upon Other Plans. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the
Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary (a) to establish any other forms of incentives or compensation for Employees of the Company or any Subsidiary, or (b) to
grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options in connection with the acquisition, by purchase, lease, merger,
consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 

  
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 7.9 Conformity to Securities Laws. Notwithstanding any other provision of the Plan,
the Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange
Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to
the extent necessary to conform to such applicable exemptive rule. 
 7.10 Notice of Disposition of Shares. The Company may require
any Participant to give the Company prompt notice of any disposition of shares of Common Stock, acquired pursuant to the Plan, within two years after the applicable Enrollment Date or within one year after the applicable Exercise Date with respect
to such shares. The Company may direct that the certificates evidencing shares acquired pursuant to the Plan refer to such requirement. 

7.11 Tax Withholding. The Company shall be entitled to require payment in cash or deduction from other compensation payable to each
Participant of any sums required by federal, state or local tax law to be withheld with respect to any purchase of shares of Common Stock under the Plan or any sale of such shares. 

7.12 Governing Law. The Plan and all rights and obligations thereunder shall be construed and enforced in accordance with the laws of
the State of Delaware. 
 7.13 Notices. All notices or other communications by a participant to the Company under or in connection
with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

7.14 Conditions To Issuance of Shares. The Company shall not be required to issue or deliver any certificate or certificates for shares
of Common Stock purchased upon the exercise of Options prior to fulfillment of all the following conditions: 
 (a) The admission of such
shares to listing on all stock exchanges, if any, on which is then listed; and 
 (b) The completion of any registration or other
qualification of such shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem
necessary or advisable; and 
 (c) The obtaining of any approval or other clearance from any state or federal governmental agency which the
Administrator shall, in its absolute discretion, determine to be necessary or advisable; and 
 (d) The payment to the Company of all
amounts which it is required to withhold under federal, state or local law upon exercise of the Option; and 
 (e) The lapse of such
reasonable period of time following the exercise of the Option as the Administrator may from time to time establish for reasons of administrative convenience. 

  
 12 

 7.15 Equal Rights and Privileges. All Eligible Employees of the Company (or of any
Designated Subsidiary that is selected by the Administrator as an Eligible Designated Subsidiary, eligible to participate in the Plan with respect to one or more applicable Offering Periods in accordance with Section 3.1(a) hereof) will have
equal rights and privileges under the Plan with respect to such Offering Period so that the Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code or applicable Treasury Regulations
thereunder. Any provision of the Plan that is inconsistent with Section 423 or applicable Treasury Regulations thereunder will, without further act or amendment by the Company, the Board or the Administrator, be reformed to comply with the
equal rights and privileges requirement of Section 423 or applicable Treasury Regulations thereunder. 
 * * * * * * 

I hereby certify that the foregoing Hyatt Hotels Corporation Second Amended and Restated Employee Stock Purchase Plan was duly approved by the
Board of Directors of Hyatt Hotels Corporation on March 25, 2020 and by the stockholders of Hyatt Hotels Corporation on May 20, 2020. 

Executed on this 20th day of May, 2020. 

 

	
	/s/ Margaret C. Egan
	Secretary

  
 13 

 EXHIBIT A 

Hyatt Hotels Corporation 
 Hyatt
Corporation 
 Hyatt International Corporation 

Hyatt Foreign Employment Services 

Hyatt Louisiana, LLC, as agent of 

DTRS New Orleans, LLC, d/b/a Hyatt 

Regency New Orleans 
 Select
Hotels Group, LLC (no Executive 
 Matching Contributions) 

Hyatt Shared Service Center, L.L.C. 

Hyatt Hotels of Florida, Inc. 

Harborside Hotel, LLC 
 Hyatt of
Latin America and Caribbean, L.L.C. 
 Hyatt Global Services, Inc. 

Wall Street Manager LLC 
 DH
Scottsdale Management LLC 
 DH Seattle Management LLC 

TR Chicago Management LLC 
 TR
Baltimore Management LLC 
 TR Camino Management LLC 

TR Sunnyvale Management LLC 
 TR
Park South Management LLC 
 DRH Alii Manager LLC 

DRH Lahaina Manager LLC 
 TR
Holmdel Manager LLC 
 Destination Residences LLC 

Destination Residences Hawaii LLC 

DH Stowe Management 
 Wall Street
Manager LLC 
 Exhale Enterprises LLC 

Exhale Enterprises XIX, LLC (Battery Wharf) 

Exhale Enterprises XXI, LLC (Ocean Resort) 

Exhale Enterprises XXVI, LLC (South Beach) 

Exhale Enterprises XXVII, LLC (Bal Harbour) 

Kawailoa DevelopmentExhibit 10.1

 

VERASTEM, INC.

AMENDED AND RESTATED

2012 INCENTIVE PLAN

1. Purpose

 

The purpose of this 2012 Incentive Plan
(the “Plan”) of Verastem, Inc., a Delaware corporation (the “Company”), is
to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate
persons who are expected to make important contributions to the Company and by providing such persons with equity ownership opportunities
and performance-based incentives that are intended to better align the interests of such persons with those of the Company’s
stockholders. Except where the context otherwise requires, the term “Company” shall include any of the
Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue
Code of 1986, as amended, and any regulations thereunder (the “Code”) and any other business venture
(including, without limitation, joint venture or limited liability company) in which the Company has a controlling interest, as
determined by the Board of Directors of the Company (the “Board”).

 

2. Eligibility

 

All of the Company’s employees, officers
and directors, as well as consultants and advisors to the Company (as such terms consultants and advisors are defined and interpreted
for purposes of Form S-8 under the Securities Act of 1933, as amended (the “Securities Act”), or any
successor form) are eligible to be granted Awards under the Plan. Each person who is granted an Award under the Plan is deemed
a “Participant.” “Award” means Options (as defined in Section 5), SARs (as
defined in Section 6), Restricted Stock (as defined in Section 7), Restricted Stock Units (as defined in Section 7) and Other Stock-Based
Awards (as defined in Section 8) and Cash-Based Awards (as defined in Section 8).

 

3. Administration and Delegation

 

(a) Administration by Board of Directors.
The Plan will be administered by the Board. The Board shall have authority to grant Awards and to adopt, amend and repeal such
administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Board may construe and interpret
the terms of the Plan and any Award agreements entered into under the Plan. The Board may correct any defect, supply any omission
or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient and it shall be
the sole and final judge of such expediency. All decisions by the Board shall be made in the Board’s sole discretion and
shall be final and binding on all persons having or claiming any interest in the Plan or in any Award.

 

(b) Appointment of Committees. To
the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees
or subcommittees of the Board (a “Committee”). All references in the Plan to the “Board”
shall mean the Board or a Committee of the Board or the officers referred to in Section 3(c) to the extent that the Board’s
powers or authority under the Plan have been delegated to such Committee or officers.

 

(c) Delegation to Officers. To the
extent permitted by applicable law, the Board may delegate to one or more officers of the Company the power to grant Options and
other Awards that constitute rights under Delaware law (subject to any limitations under the Plan) to employees or officers of
the Company and to exercise such other powers under the Plan as the Board may determine, provided that the Board shall fix
the terms of such Awards to be granted by such officers (including the exercise price of such Awards, which may include a formula
by which the exercise price will be determined) and the maximum number of shares subject to such Awards that the officers may grant;
provided further, however, that no officer shall be authorized to grant such Awards to any “executive officer”
of the Company (as defined by Rule 3b-7 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
or to any “officer” of the Company (as defined by Rule 16a-1 under the Exchange Act). The Board may not delegate authority
under this Section 3(c) to grant Restricted Stock, unless Delaware law then permits such delegation.

 

4. Stock Available for Awards

 

(a) Number of Shares; Share Counting.

 

(1) Authorized Number of Shares. Subject
to adjustment under Section 9, Awards may be made under the Plan (any or all of which Awards may be in the form of Incentive Stock
Options, as defined in Section 5(b)) for up to 29,628,425 shares of common stock, $0.0001 par value per share, of the Company (the
 “Common Stock”).

 

(2) Share Counting. For purposes of
counting the number of shares available for the grant of Awards under the Plan:

 

(A) all shares of Common Stock covered
by SARs shall be counted against the number of shares available for the grant of Awards under the Plan; provided,
however, that (i) SARs that may be settled only in cash shall not be so counted and (ii) if the Company grants an SAR in
tandem with an Option for the same number of shares of Common Stock and provides that only one such Award may be exercised (a
 “Tandem SAR”), only the shares covered by the Option, and not the shares covered by the Tandem SAR,
shall be so counted, and the expiration of one in connection with the other’s exercise will not restore shares to the
Plan;

 

     

     

    

 

(B) if any Award (i) expires or is terminated,
surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares
of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual
repurchase right) or (ii) results in any Common Stock not being issued (including as a result of an SAR that was settleable either
in cash or in stock actually being settled in cash), the unused Common Stock covered by such Award shall again be available for
the grant of Awards; provided, however, that (1) in the case of Incentive Stock Options, the foregoing shall be subject
to any limitations under the Code, (2) in the case of the exercise of an SAR, the number of shares counted against the shares available
under the Plan shall be the full number of shares subject to the SAR multiplied by the percentage of the SAR actually exercised,
regardless of the number of shares actually used to settle such SAR upon exercise and (3) the shares covered by a tandem SAR shall
not again become available for grant upon the expiration or termination of such tandem SAR; and

 

(C) shares of Common Stock delivered (either
by actual delivery, attestation, or net exercise) to the Company by a Participant to (i) purchase shares of Common Stock upon the
exercise of an Award or (ii) satisfy tax withholding obligations (including shares retained from the Award creating the tax obligation)
shall not be added back to the number of shares available for the future grant of Awards.

 

(b) Per-Participant Limit. Subject
to adjustment under Section 9, the maximum number of shares of Common Stock with respect to which Awards may be granted to any
Participant under the Plan shall be 1,142,857 per calendar year. For purposes of the foregoing limit, the combination of an Option
in tandem with an SAR shall be treated as a single Award.

 

(c) Substitute Awards. In connection
with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity,
the Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate
thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any
limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set forth in Section
4(a)(1) or any sublimit contained in the Plan, except as may be required by reason of Section 422 and related provisions of the
Code.

 

5. Stock Options

 

(a) General. The Board may grant
options to purchase Common Stock (each, an “Option”) and determine the number of shares of Common Stock
to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of
each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable.

 

(b) Incentive Stock Options. An Option
that the Board intends to be an “incentive stock option” as defined in Section 422 of the Code (an “Incentive
Stock Option”) shall only be granted to employees of Verastem, Inc., any of Verastem, Inc.’s present or future
parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other entities the employees of which
are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with
the requirements of Section 422 of the Code. An Option that is not intended to be an Incentive Stock Option shall be designated
a “Nonstatutory Stock Option.” The Company shall have no liability to a Participant, or any other party,
if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or if the
Company converts an Incentive Stock Option to a Nonstatutory Stock Option.

 

(c) Exercise Price. The Board shall
establish the exercise price of each Option and specify the exercise price in the applicable Option agreement. The exercise price
shall be not less than 100% of the fair market value per share of Common Stock as determined by (or in a manner approved by) the
Board (“Fair Market Value”) on the date the Option is granted; provided that if the Board approves
the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100%
of the Fair Market Value on such future date.

 

(d) Duration of Options. Each Option
shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable option agreement;
provided, however, that no Option will be granted with a term in excess of 10 years.

 

(e) Exercise of Options.
Options may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by
the Company, together with payment in full (in the manner specified in Section 5(f)) of the exercise price for the number of
shares for which the Option is exercised. Shares of Common Stock subject to the Option will be delivered by the Company as
soon as practicable following exercise.

 

     

     

    

 

(f) Payment Upon Exercise. Common
Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:

 

(1) in cash or by check, payable to the order
of the Company;

 

(2) except as may otherwise be
provided in the applicable Option agreement or approved by the Board, in its sole discretion, by (i) delivery of an irrevocable
and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise
price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional
instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and
any required tax withholding;

 

(3) to the extent provided for in the applicable
Option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares
of Common Stock owned by the Participant valued at their Fair Market Value, provided (i) such method of payment is then permitted
under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum
period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock is not subject to any
repurchase, forfeiture, unfulfilled vesting or other similar requirements;

 

(4) to the extent provided for in the applicable
Nonstatutory Stock Option agreement or approved by the Board in its sole discretion, by delivery of a notice of “net exercise”
to the Company, as a result of which the Participant would receive (i) the number of shares underlying the portion of the Option
being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of the Option
being exercised divided by (B) the Fair Market Value on the date of exercise;

 

(5) to the extent permitted by applicable
law and provided for in the applicable Option agreement or approved by the Board, in its sole discretion, by payment of such other
lawful consideration as the Board may determine; or

 

(6) by any combination of the above permitted
forms of payment.

 

(g) Limitation on Repricing. Unless
such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): (1)
amend any outstanding Option granted under the Plan to provide an exercise price per share that is lower than the then-current
exercise price per share of such outstanding Option, (2) cancel any outstanding option (whether or not granted under the Plan)
and grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(c)) covering the
same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise
price per share of the cancelled option, (3) cancel in exchange for a cash payment any outstanding Option with an exercise price
per share above the then-current Fair Market Value, other than pursuant to Section 9, or (4) take any other action under the Plan
that constitutes a “repricing” within the meaning of the rules of the NASDAQ Stock Market.

 

6. Stock Appreciation Rights

 

(a) General. The Board may grant
Awards consisting of stock appreciation rights (“SARs”) entitling the holder, upon exercise, to receive
an amount of Common Stock or cash or a combination thereof (such form to be determined by the Board) determined by reference to
appreciation, from and after the date of grant, in the Fair Market Value of a share of Common Stock over the measurement price
established pursuant to Section 6(b). The date as of which such appreciation is determined shall be the exercise date.

 

(b) Measurement Price. The Board
shall establish the measurement price of each SAR and specify it in the applicable SAR agreement. The measurement price shall not
be less than 100% of the Fair Market Value on the date the SAR is granted; provided that if the Board approves the grant
of an SAR effective as of a future date, the measurement price shall be not less than 100% of the Fair Market Value on such future
date.

 

(c) Duration of SARs. Each SAR shall
be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable SAR agreement;
provided, however, that no SAR will be granted with a term in excess of 10 years.

 

(d) Exercise of SARs. SARs may be
exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company, together
with any other documents required by the Board.

 

(e) Limitation on Repricing.
Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section
9): (1) amend any outstanding SAR granted under the Plan to provide a measurement price per share that is lower than the
then-current measurement price per share of such outstanding SAR, (2) cancel any outstanding SAR (whether or not granted
under the Plan) and grant in substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section
4(c)) covering the same or a different number of shares of Common Stock and having an exercise or measurement price per share
lower than the then-current measurement price per share of the cancelled SAR, (3) cancel in exchange for a cash payment any
outstanding SAR with a measurement price per share above the then-current Fair Market Value, other than pursuant to Section
9, or (4) take any other action under the Plan that constitutes a “repricing” within the meaning of the rules of
the NASDAQ Stock Market.

 

     

     

    

 

7. Restricted Stock; Restricted Stock Units

 

(a) General. The Board may grant
Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”), subject to the right
of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture
of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award
are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award. The
Board may also grant Awards entitling the recipient to receive shares of Common Stock or cash to be delivered at the time such
Award vests (“Restricted Stock Units”) (Restricted Stock and Restricted Stock Units are each referred
to herein as a “Restricted Stock Award”).

 

(b) Terms and Conditions for All Restricted
Stock Awards. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions for
vesting and repurchase (or forfeiture) and the issue price, if any.

 

(c) Additional Provisions Relating to
Restricted Stock.

 

(1) Dividends. Unless otherwise provided
in the applicable Award agreement, any dividends (whether paid in cash, stock or property) declared and paid by the Company with
respect to shares of Restricted Stock (“Accrued Dividends”) shall be paid to the Participant only if
and when such shares become free from the restrictions on transferability and forfeitability that apply to such shares. Each payment
of Accrued Dividends will be made no later than the end of the calendar year in which the dividends are paid to stockholders of
that class of stock or, if later, the 15th day of the third month following the lapsing of the restrictions on transferability
and the forfeitability provisions applicable to the underlying shares of Restricted Stock.

 

(2) Stock Certificates. The Company
may require that any stock certificates issued in respect of shares of Restricted Stock, as well as dividends or distributions
paid on such Restricted Stock, shall be deposited in escrow by the Participant, together with a stock power endorsed in blank,
with the Company (or its designee). At the expiration of the applicable restriction periods, the Company (or such designee) shall
deliver the certificates no longer subject to such restrictions to the Participant or if the Participant has died, to his or her
Designated Beneficiary. “Designated Beneficiary” means (i) the beneficiary designated, in a manner determined
by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s
death or (ii) in the absence of an effective designation by a Participant, the Participant’s estate.

 

(d) Additional Provisions Relating to
Restricted Stock Units.

 

(1) Settlement. Upon the vesting of
and/or lapsing of any other restrictions (i.e., settlement) with respect to each Restricted Stock Unit, the Participant shall be
entitled to receive from the Company one share of Common Stock or (if so provided in the applicable Award agreement) an amount
of cash equal to the Fair Market Value of one share of Common Stock. The Board may, in its discretion, provide that settlement
of Restricted Stock Units shall be deferred, on a mandatory basis or at the election of the Participant in a manner that complies
with Section 409A of the Code.

 

(2) Voting Rights. A Participant shall
have no voting rights with respect to any Restricted Stock Units.

 

(3) Dividend Equivalents. The Award
agreement for Restricted Stock Units may provide Participants with the right to receive an amount equal to any dividends or other
distributions declared and paid on an equal number of outstanding shares of Common Stock (“Dividend Equivalents”).
Dividend Equivalents may be paid currently or credited to an account for the Participant, may be settled in cash and/or shares
of Common Stock and may be subject to the same restrictions on transfer and forfeitability as the Restricted Stock Units with respect
to which paid, in each case to the extent provided in the Award agreement.

 

8. Other Stock-Based and Cash-Based Awards

 

(a) General. Other Awards of shares
of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Common
Stock or other property, may be granted hereunder to Participants (“Other Stock-Based-Awards”). Such
Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan
or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares
of Common Stock or cash, as the Board shall determine. The Company may also grant Performance Awards or other Awards denominated
in cash rather than shares of Common Stock (“Cash-Based Awards”).

 

     

     

    

 

(b) Terms and Conditions. Subject
to the provisions of the Plan, the Board shall determine the terms and conditions of each Other Stock-Based Award or Cash-Based
Award, including any purchase price applicable thereto.

 

9. Adjustments for Changes in Common Stock and Certain Other
Events

 

(a) Changes in Capitalization. In
the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of
shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock
other than an ordinary cash dividend, (i) the number and class of securities available under the Plan, (ii) the share counting
rules and sublimit set forth in Sections 4(a) and 4(b), (iii) the number and class of securities and exercise price per share of
each outstanding Option, (iv) the share and per-share provisions and the measurement price of each outstanding SAR, (v) the number
of shares subject to and the repurchase price per share subject to each outstanding Restricted Stock Award and (vi) the share and
per-share-related provisions and the purchase price, if any, of each outstanding Other Stock-Based Award, shall be equitably adjusted
by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board. Without limiting the generality
of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price
of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather
than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution
date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares
of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close
of business on the record date for such stock dividend.

 

(b) Reorganization Events.

 

(1) Definition. A “Reorganization
Event” shall mean: (a) any merger or consolidation of the Company with or into another entity as a result of which
all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property
or is cancelled, (b) any transfer or disposition of all of the Common Stock of the Company for cash, securities or other property
pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company.

 

(2) Consequences of a Reorganization Event
on Awards Other than Restricted Stock.

 

(A) In connection with a Reorganization
Event, the Board may take any one or more of the following actions as to all or any (or any portion of) outstanding Awards other
than Restricted Stock on such terms as the Board determines (except to the extent specifically provided otherwise in an applicable
Award agreement or another agreement between the Company and the Participant): (i) provide that such Awards shall be assumed, or
substantially equivalent Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), (ii)
upon written notice to a Participant, provide that all of the Participant’s unexercised Awards will terminate immediately
prior to the consummation of such Reorganization Event unless exercised by the Participant (to the extent then exercisable) within
a specified period following the date of such notice, (iii) provide that outstanding Awards shall become exercisable, realizable,
or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Reorganization Event,
(iv) in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof
a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), make
or provide for a cash payment to Participants with respect to each Award held by a Participant equal to (A) the number of shares
of Common Stock subject to the vested portion of the Award (after giving effect to any acceleration of vesting that occurs upon
or immediately prior to such Reorganization Event) multiplied by (B) the excess, if any, of (I) the Acquisition Price over (II)
the exercise, measurement or purchase price of such Award and any applicable tax withholdings, in exchange for the termination
of such Award, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into the
right to receive liquidation proceeds (if applicable, net of the exercise, measurement or purchase price thereof and any applicable
tax withholdings) and (vi) any combination of the foregoing. In taking any of the actions permitted under this Section 9(b)(2),
the Board shall not be obligated by the Plan to treat all Awards, all Awards held by a Participant, or all Awards of the same type,
identically.

 

(B) Notwithstanding the terms of
Section 9(b)(2)(A), in the case of outstanding Restricted Stock Units that are subject to Section 409A of the Code: (i) if
the applicable Restricted Stock Unit agreement provides that the Restricted Stock Units shall be settled upon a “change
in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i), and the Reorganization Event
constitutes such a “change in control event”, then no assumption or substitution shall be permitted pursuant to
Section 9(b)(2)(A)(i) and the Restricted Stock Units shall instead be settled in accordance with the terms of the applicable
Restricted Stock Unit agreement; and (ii) the Board may only undertake the actions set forth in clauses (iii), (iv) or (v) of
Section 9(b)(2)(A) if the Reorganization Event constitutes a “change in control event” as defined under Treasury
Regulation Section 1.409A-3(i)(5)(i) and such action is permitted or required by Section 409A of the Code; if the
Reorganization Event is not a “change in control event” as so defined or such action is not permitted or required
by Section 409A of the Code, and the acquiring or succeeding corporation does not assume or substitute the Restricted Stock
Units pursuant to clause (i) of Section 9 (b)(2)(A), then the unvested Restricted Stock Units shall terminate immediately
prior to the consummation of the Reorganization Event without any payment in exchange therefor.

 

     

     

    

 

(C) For purposes of Section 9(b)(2)(A)(i),
an Award (other than Restricted Stock) shall be considered assumed if, following consummation of the Reorganization Event, such
Award confers the right to purchase or receive pursuant to the terms of such Award, for each share of Common Stock subject to the
Award immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property)
received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior
to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration
received as a result of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate
thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received
upon the exercise or settlement of the Award to consist solely of such number of shares of common stock of the acquiring or succeeding
corporation (or an affiliate thereof) that the Board determined to be equivalent in value (as of the date of such determination
or another date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock
as a result of the Reorganization Event.

 

(3) Consequences of a Reorganization Event
on Restricted Stock. Upon the occurrence of a Reorganization Event other than a liquidation or dissolution of the Company,
the repurchase and other rights of the Company with respect to outstanding Restricted Stock shall inure to the benefit of the Company’s
successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Common Stock
was converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same extent as they applied
to such Restricted Stock; provided, however, that the Board may provide for termination or deemed satisfaction of
such repurchase or other rights under the instrument evidencing any Restricted Stock or any other agreement between a Participant
and the Company, either initially or by amendment. Upon the occurrence of a Reorganization Event involving the liquidation or dissolution
of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock or
any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock then outstanding
shall automatically be deemed terminated or satisfied.

 

10. General Provisions Applicable to Awards

 

(a) Transferability of Awards. Awards
shall not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily
or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock
Option or Awards subject to Section 409A of the Code, pursuant to a qualified domestic relations order, and, during the life of
the Participant, shall be exercisable only by the Participant; provided, however, except with respect to Awards subject
to Section 409A of the Code, that the Board may permit or provide in an Award for the gratuitous transfer of the Award by the Participant
to or for the benefit of any immediate family member, family trust or other entity established for the benefit of the Participant
and/or an immediate family member thereof if the Company would be eligible to use a Form S-8 under the Securities Act for the registration
of the sale of the Common Stock subject to such Award to such proposed transferee; provided further, that the Company shall
not be required to recognize any such permitted transfer until such time as such permitted transferee shall, as a condition to
such transfer, deliver to the Company a written instrument in form and substance satisfactory to the Company confirming that such
transferee shall be bound by all of the terms and conditions of the Award. References to a Participant, to the extent relevant
in the context, shall include references to authorized transferees. For the avoidance of doubt, nothing contained in this Section
10(a) shall be deemed to restrict a transfer to the Company.

 

(b) Documentation. Each Award shall
be evidenced in such form (written, electronic or otherwise) as the Board shall determine. Each Award may contain terms and conditions
in addition to those set forth in the Plan.

 

(c) Board Discretion. Except as otherwise
provided by the Plan, each Award may be made alone or in addition or in relation to any other Award. The terms of each Award need
not be identical, and the Board need not treat Participants uniformly.

 

(d) Termination of Status. The Board
shall determine the effect on an Award of the disability, death, termination or other cessation of employment, authorized leave
of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which,
the Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may exercise
rights under the Award.

 

     

     

    

 

(e) Withholding. The Participant
must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company
will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award. The Company may decide to satisfy
the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold
from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker
tender to the Company cash equal to the withholding obligations. Payment of withholding obligations is due before the Company will
issue any shares on exercise, vesting or release from forfeiture of an Award or at the same time as payment of the exercise or
purchase price, unless the Company determines otherwise. If provided for in an Award or approved by the Board in its sole discretion,
a Participant may satisfy such tax obligations in whole or in part by delivery (either by actual delivery or attestation) of shares
of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; provided,
however, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such
tax obligations cannot exceed the maximum withholding amount consistent with the award being subject to equity accounting treatment
under the applicable accounting rules. Shares used to satisfy tax withholding requirements cannot be subject to any repurchase,
forfeiture, unfulfilled vesting or other similar requirements.

 

(f) Amendment of Award. The Board
may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the
same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory
Stock Option. The Participant’s consent to such action shall be required unless (i) the Board determines that the action,
taking into account any related action, does not materially and adversely affect the Participant’s rights under the Plan
or (ii) the change is permitted under Section 9.

 

(g) Conditions on Delivery of Stock.
The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares
previously issued or delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction
of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance and
delivery of such shares have been satisfied, including any applicable securities laws and regulations and any applicable stock
exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations
or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.

 

(h) Acceleration. The Board may at
any time provide that any Award shall become immediately exercisable in whole or in part, free of some or all restrictions or conditions,
or otherwise realizable in whole or in part, as the case may be.

 

(i) Performance Awards.

 

(1) Grants. Restricted Stock Awards
and Other Stock-Based Awards under the Plan may be made subject to the achievement of performance goals pursuant to this Section
10(i) (“Performance Awards”). Subject to Section 10(i)(4), no Performance Awards shall vest prior to
the first anniversary of the date of grant. Performance Awards can also provide for cash payments of up to $5,000,000 per calendar
year per individual.

 

(2) Committee. Grants of Performance
Awards to any Covered Employee (as defined below) intended to qualify as “performance-based compensation” under Section
162(m) of the Code as in effect prior to December 22, 2017, including any regulations thereunder (such Performance Awards, “Performance-Based
Compensation” and such Code section, “Section 162(m)”) shall be made only by a Committee
(or a subcommittee of a Committee) comprised solely of two or more directors eligible to serve on a committee making Awards qualifying
as “performance-based compensation” under Section 162(m). In the case of such Awards granted to Covered Employees,
references to the Board or to a Committee shall be treated as referring to such Committee (or subcommittee). “Covered
Employee” shall mean any person who is, or whom the Committee, in its discretion, determines may be, a “covered
employee” under Section 162(m)(3) of the Code.

 

     

     

    

 

(3) Performance Measures. For any
Award that is intended to qualify as Performance-Based Compensation, the Committee shall specify that the degree of granting,
vesting and/or payout shall be subject to the achievement of one or more objective performance measures established by the
Committee, which shall be based on the relative or absolute attainment of specified levels of one or any combination of the
following, which may be determined pursuant to generally accepted accounting principles (“GAAP”) or
on a non-GAAP basis, as determined by the Committee: scientific progress, product development progress, business development
progress, including in-licensing, net income/(loss), earnings/(loss) before or after discontinued operations, interest,
taxes, depreciation and/or amortization, operating profit/(loss) before or after discontinued operations and/or taxes, sales,
sales growth, earnings growth, cash flow or cash position, gross margins, stock price, financings (issuance of debt or
equity), refinancings, market share, return on sales, assets, equity or investment, improvement of financial ratings,
achievement of balance sheet or income statement objectives or total stockholder return. Such goals may reflect absolute
entity or business unit performance or a relative comparison to the performance of a peer group of entities or other external
measure of the selected performance criteria and may be absolute in their terms or measured against or in relationship to
other companies comparably, similarly or otherwise situated. The Committee may specify that such performance measures shall
be adjusted to exclude any one or more of (i) extraordinary items, (ii) gains or losses on the dispositions of discontinued
operations, (iii) the cumulative effects of changes in accounting principles, (iv) the writedown of any asset, (vi)
fluctuation in foreign currency exchange rates, and (vi) charges for restructuring and rationalization programs. Such
performance measures: (i) may vary by Participant and may be different for different Awards; (ii) may be particular to a
Participant or the department, branch, line of business, subsidiary or other unit in which the Participant works and may
cover such period as may be specified by the Committee; and (iii) shall be set by the Committee within the time period
prescribed by, and shall otherwise comply with the requirements of, Section 162(m). Awards that are not intended to qualify
as Performance-Based Compensation may be based on these or such other performance measures as the Board may determine.

 

(4) Adjustments. Notwithstanding any
provision of the Plan, with respect to any Performance Award that is intended to qualify as Performance-Based Compensation, the
Committee may adjust downwards, but not upwards, the cash or number of shares payable pursuant to such Award, and the Committee
may not waive the achievement of the applicable performance measures except in the case of the death or disability of the Participant
or a change in control of the Company.

 

(5) Other. The Committee shall have
the power to impose such other restrictions on Performance Awards as it may deem necessary or appropriate to ensure that such Awards
satisfy all requirements for Performance-Based Compensation.

 

11. Miscellaneous

 

(a) No Right To Employment or Other Status.
No person shall have any claim or right to be granted an Award by virtue of the adoption of the Plan, and the grant of an Award
shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The
Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from
any liability or claim under the Plan, except as expressly provided in the applicable Award.

 

(b) No Rights As Stockholder. Subject
to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with
respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder of such shares.

 

(c) Effective Date and Term of Plan.
The Plan, as amended and restated, shall become effective on the date the Plan is adopted by the Board. No Awards shall be granted
under the Plan after the expiration of 10 years from the date the Plan was initially approved by the Company’s stockholders,
but Awards previously granted may extend beyond that date.

 

(d) Amendment of Plan. The Board
may amend, suspend or terminate the Plan or any portion thereof at any time provided that no amendment that would require stockholder
approval under the rules of the NASDAQ Stock Market may be made effective unless and until the Company’s stockholders approve
such amendment. In addition, if at any time the approval of the Company’s stockholders is required as to any other modification
or amendment under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not
effect such modification or amendment without such approval. Unless otherwise specified in the amendment, any amendment to the
Plan adopted in accordance with this Section 11(d) shall apply to, and be binding on the holders of, all Awards outstanding under
the Plan at the time the amendment is adopted, provided the Board determines that such amendment, taking into account any related
action, does not materially and adversely affect the rights of Participants under the Plan. No Award shall be made that is conditioned
upon stockholder approval of any amendment to the Plan unless the Award provides that (i) it will terminate or be forfeited if
stockholder approval of such amendment is not obtained within no more than 12 months from the date of grant and (2) it may not
be exercised or settled (or otherwise result in the issuance of Common Stock) prior to such stockholder approval.

 

(e) Authorization of Sub-Plans (including
for Grants to non-U.S. Employees). The Board may from time to time establish one or more sub-plans under the Plan for purposes
of satisfying applicable securities, tax or other laws of various jurisdictions. The Board shall establish such sub-plans by adopting
supplements to the Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board deems necessary
or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary
or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only
to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants
in any jurisdiction which is not the subject of such supplement.

 

     

     

    

 

(f) Compliance with Section 409A of the
Code. Except as provided in individual Award agreements initially or by amendment, if and to the extent (i) any portion of
any payment, compensation or other benefit provided to a Participant pursuant to the Plan in connection with his or her employment
termination constitutes “nonqualified deferred compensation” within the meaning of Section 409A of the Code and (ii)
the Participant is a specified employee as defined in Section 409A(a)(2)(B)(i) of the Code, in each case as determined by the Company
in accordance with its procedures, by which determinations the Participant (through accepting the Award) agrees that he or she
is bound, such portion of the payment, compensation or other benefit shall not be paid before the day that is six months plus one
day after the date of “separation from service” (as determined under Section 409A of the Code) (the “New
Payment Date”), except as Section 409A of the Code may then permit. The aggregate of any payments that otherwise
would have been paid to the Participant during the period between the date of separation from service and the New Payment Date
shall be paid to the Participant in a lump sum on such New Payment Date, and any remaining payments will be paid on their original
schedule. The Company makes no representations or warranty and shall have no liability to the Participant or any other person if
any provisions of or payments, compensation or other benefits under the Plan are determined to constitute nonqualified deferred
compensation subject to Section 409A of the Code but do not to satisfy the conditions of that section.

 

(g) Limitations on Liability. Notwithstanding
any other provisions of the Plan, no individual acting as a director, officer, employee or agent of the Company will be liable
to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred
in connection with the Plan, nor will such individual be personally liable with respect to the Plan because of any contract or
other instrument he or she executes in his or her capacity as a director, officer, employee or agent of the Company. The Company
will indemnify and hold harmless each director, officer, employee or agent of the Company to whom any duty or power relating to
the administration or interpretation of the Plan has been or will be delegated, against any cost or expense (including attorneys’
fees) or liability (including any sum paid in settlement of a claim with the Board’s approval) arising out of any act or
omission to act concerning the Plan unless arising out of such person’s own fraud or bad faith.

 

(h) Governing Law. The provisions
of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware,
excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other
than the State of Delaware.

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