Document:

EX-10.2

 Exhibit 10.2 
 HMAN GROUP HOLDINGS INC. 
 2014 EQUITY INCENTIVE PLAN 

 

	Article 1.	Establishment & Purpose 

 1.1 Establishment. HMAN Group Holdings Inc., a Delaware corporation (the “Company”), hereby establishes the 2014 Equity Incentive Plan effective as of June 30, 2014 (this
“Plan”). 
 1.2 Purpose of this Plan. The purpose of this Plan is to attract, retain and motivate the
officers, directors, employees and consultants of the Company and its Subsidiaries and Affiliates, and to promote the success of the Company’s business by providing them with appropriate incentives and rewards either through a proprietary
interest in the long-term success of the Company or compensation based on fulfilling certain performance goals. 
  

	Article 2.	Definitions 

 Capitalized
terms used and not otherwise defined herein shall have the meanings set forth below. 
 2.1
“Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified Person.
For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. Unless otherwise
specifically indicated, when used herein, the term Affiliate shall refer to an Affiliate of the Company. 
 2.2
“Award” means any Option, Stock Appreciation Right, Restricted Stock or Other Stock-Based Award that is granted under this Plan. 
 2.3 “Award Agreement” means either (a) a written agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award,
or (b) a written statement signed by an authorized officer of the Company to a Participant describing the terms and provisions of the actual grant of such Award. 
 2.4 “Board” means the Board of Directors of the Company. 
 2.5 “Cause” means, unless otherwise set forth in an Award Agreement: 
 (a) if a Participant has an effective employment agreement, severance agreement, service agreement or other similar agreement with the Company or a Subsidiary that defines “Cause” or a like
term, the meaning set forth in such agreement at the time of the Participant’s termination of employment or other service; or, in the absence of such definition, 

 (b) termination of a Participant’s employment or other service because of: (i) the
Participant’s commission of a felony (or similar crime in a foreign jurisdiction) or crime of dishonesty or moral turpitude, (ii) insubordination, gross negligence or willful misconduct in the performance of the Participant’s duties,
(iii) illegal use of controlled substances during the performance of the Participant’s duties or that adversely affects the reputation or best interests of the Company or any Subsidiary or Affiliate, (iv) the Participant’s
commission of fraud, embezzlement, misappropriation of funds, breach of fiduciary duty or a material act of dishonesty against the Company or any Subsidiary or Affiliate, (v) material breach by the Participant of any written employment,
non-competition, non-solicitation, confidentiality or similar agreement with the Company or any Subsidiary or Affiliate, (vi) the Participant’s material noncompliance with Company policy or code of conduct, (vii) the
Participant’s persistent neglect of duty or chronic unapproved absenteeism, or (viii) the Participant’s willful and deliberate failure in the performance of the Participant’s duties in any material respect, in each case, as
determined in good faith by the Company in its sole discretion. 
 2.6 “CCMP Investors” means
CCMP Capital Investors III, L.P., CCMP Capital Investors (Employee) III, L.P., CCMP Co-Invest III A, L.P. and each of their respective Permitted Transferees. 
 2.7 “Change of Control” means, unless otherwise specified in an Award Agreement, (a) any arms-length transaction or series of related transactions with a bona fide
third party, whether or not the Company is a party thereto, (i) in which, after giving effect to such transaction or transactions, the Securities of the Company representing at least fifty percent (50%) of the voting power of the Company
are owned directly, or indirectly through one or more entities, by any “person” or “group” (as such terms are used in Section 13(d) of the Exchange Act) of persons other than the CCMP Investors or any of their Affiliates, or
(ii) in which there is a sale, lease or other disposition of all or substantially all of the assets of the Company and its Subsidiaries on a consolidated basis (including Securities of the Company’s directly or indirectly owned
Subsidiaries (if any)); or (b) any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company or one or more Subsidiaries of the Company which constitutes all or substantially all of the consolidated assets of
the Company; provided, that, to the extent necessary to comply with Section 409A of the Code with respect to the payment of deferred compensation, “Change of Control” shall be limited to a “change in control
event” as defined under Section 409A of the Code. 
 2.8 “Code” means the U.S. Internal
Revenue Code of 1986, as amended from time to time. 
 2.9 “Committee” means the Board, or any
committee designated by the Board to administer this Plan in accordance with Article 3 of this Plan. 
 2.10
“Consultant” means any person who provides bona fide services to the Company or any Affiliate or Subsidiary as a consultant or advisor, excluding any Employee or Director. 

2.11 “Director” means a member of the Board who is not an Employee. 

  
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 2.12 “Disability” means, unless otherwise set forth in an
Award Agreement: 
 (a) if a Participant has an effective employment agreement, severance agreement, service agreement or other
similar agreement with the Company or a Subsidiary that defines “Disability” or a like term, the meaning set forth in such agreement at the time of the Participant’s termination of employment or other service; or, in the absence of
such definition, 
 (b) the failure or inability of the Participant to perform duties with the Company or any of its
Subsidiaries or Affiliates for a period of at least 180 consecutive days (or 180 days during any twelve (12) month period) by reason of any physical or mental condition, as determined in good faith by the Company in its sole discretion;
provided, that, if the Company’s long term disability plan contains a definition of “disability,” the definition in such plan will control. 
 2.13 “Employee” means an officer or other employee of the Company or any Subsidiary or Affiliate, including a member of the Board who is such an employee. 

2.14 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

2.15 “Fair Value” means as of any day, with respect to the Shares: 

(a) if the Shares are immediately and freely tradable on a stock exchange or an over-the-counter market, the closing price per Share on
the preceding day, or if no trades were made on such date, the immediately preceding day on which trades were made; 
 (b) if
there is a pending transaction in which the Shares are valued and a definitive agreement for such pending transaction has been entered into by the Company, the per Share value in such valuation; or 

(c) if neither (a) nor (b) applies, at the election of the Board, (A) the valuation set forth in the most recently issued
report to the limited partners of the CCMP Investors, or (B) the valuation determined by a reputable independent valuation firm selected by the Board. 
 For the purpose of determining the Option Price or grant price of an Award, Fair Value shall be consistent with the principles of Section 409A of the Code. 

2.16 “Good Reason” means, unless otherwise set forth in an Award Agreement: 

(a) if a Participant has an effective employment agreement, severance agreement, service agreement or other similar agreement with the
Company or a Subsidiary that defines “Good Reason” or a like term, the meaning set forth in such agreement at the time of the Participant’s termination of employment or other service; or, in the absence of such definition, 

(b) termination of employment or other service by the Participant because of the occurrence of any of the following events: (i) a
material reduction in the Participant’s base salary, excluding across the board reductions affecting all executives of the Company or (ii) a requirement by the Company that the Participant relocate to a different principal place of
employment that is located more than seventy five (75) miles from the Participant’s principal place of employment as of the date hereof; provided, that, such events shall constitute “Good

  
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Reason” only after a written notice from the Participant is delivered to the Company, within sixty (60) days of the occurrence of such event, that specifically identifies such event and
the Company does not remedy such event within thirty (30) days after receipt thereof. 
 2.17 “Incentive
Stock Option” means an Option intended to meet the requirements of an incentive stock option as defined in Section 422 of the Code and designated as an Incentive Stock Option in accordance with Article 6 of this Plan.

 2.18 “Nonqualified Stock Option” means an Option that is not an Incentive Stock Option.

 2.19 “Option” means any Option granted from time to time under Article 6 of this Plan.

 2.20 “Option Price” means the purchase price per Share subject to an Option, as determined
pursuant to Section 6.2 of this Plan. 
 2.21 “Other Stock-Based Award” means any
Award granted under Article 9 of this Plan. 
 2.22 “Participant” means any eligible
person as set forth in Section 4.1 to whom an Award is granted. 
 2.23 “Person”
means any natural person, sole proprietorship, general partnership, limited partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, governmental authority or any other organization,
irrespective of whether it is a legal entity and includes any successor (by merger or otherwise) of such entity. 
 2.24
“Restricted Stock” means any Award granted under Article 8 of this Plan. 
 2.25
“Restriction Period” means the period during which Restricted Stock awarded under Article 8 of this Plan is restricted. 
 2.26 “Securities” has the meaning set forth in the Stockholder’s Agreement. 
 2.27 “Share” means a share of common stock of the Company, par value $0.01 per share, or such other class or kind of shares or other securities resulting from the
application of Article 11 of this Plan. 
 2.28 “Stock Appreciation Right” means any right
granted under Article 7 of this Plan 
 2.29 “Stockholders’ Agreement” means that
certain HMAN Group Holdings Inc. Stockholders’ Agreement dated June 30, 2014 entered into by and among the Company and the stockholders listed on the signature pages thereto, as may be amended from time to time. 

2.30 “Subsidiary” means, with respect to any entity (the “parent”), any corporation, limited
liability company, company, firm, association or trust of which such parent, at the time in respect of which such term is used, (i) owns directly or indirectly more than fifty percent (50%)

  
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of the equity, membership interest or beneficial interest, on a consolidated basis, or (ii) owns directly or controls with power to vote, directly or indirectly through one or more
Subsidiaries, shares of the equity, membership interest or beneficial interest having the power to elect more than fifty percent (50%) of the directors, trustees, managers or other officials having powers analogous to that of directors of a
corporation. Unless otherwise specifically indicated, when used herein, the term Subsidiary shall refer to a direct or indirect Subsidiary of the Company. 
 2.31 “Ten-Percent Shareholder” means a person who on any given date owns, either directly or indirectly (taking into account the attribution rules contained in
Section 424(d) of the Code), stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or a Subsidiary or Affiliate. 

 

	Article 3.	Administration 

 3.1
Authority of the Committee. This Plan shall be administered by the Committee, which shall have full power to interpret and administer this Plan and full authority to select the Directors, Employees and Consultants to whom Awards will be granted
and determine the type and amount of Awards to be granted to each such Director, Employee or Consultant, the terms and conditions of such Awards. Without limiting the generality of the foregoing, the Committee may, in its sole discretion, interpret,
clarify, construe or resolve any ambiguity in any provision of this Plan or any Award Agreement, accelerate or waive vesting of Awards and exercisability of Awards, extend the term or period of exercisability of any Awards or waive any terms or
conditions applicable to any Award, subject to the limitations set forth in Section 12.2 of this Plan. Awards may, in the discretion of the Committee, be made under this Plan in assumption of, or in substitution for, outstanding awards
previously granted by the Company or an Affiliate or a company acquired by the Company or with which the Company combines. The Committee shall have full and exclusive discretionary power to adopt rules, forms, instruments and guidelines for
administering this Plan as the Committee deems necessary or proper, subject to the limitations set forth in Section 12.2 of this Plan. Subject to Section 12.2, all actions taken and all interpretations and determinations made
by the Committee or by the Board (or any other committee or sub-committee thereof), as applicable, shall be final and binding upon the Participants, the Company and all other interested individuals. 

3.2 Delegation. The Committee may delegate to one or more of its members, one or more officers of the Company or any Subsidiary,
or one or more agents or advisors such administrative duties or powers as it may deem advisable. 
  

	Article 4.	Eligibility and Participation 

 4.1 Eligibility. Participants will consist of such Employees, Directors and Consultants as the Committee in its sole discretion determines and whom the Committee may designate from time to time to
receive Awards under this Plan; provided, however, that Options and Stock Appreciation Rights may only be granted to those Employees, Directors and Consultants with respect to whom the Company is an “eligible issuer” within
the meaning of Section 409A of the Code. The designation of an individual as a Participant in any year shall not require that the Committee designate such individual to receive an Award in any other year or to receive the same type or amount of
Award in any other year. 

  
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 4.2 Type of Awards. Awards under this Plan may be granted in any one or a combination
of: (a) Options; (b) Stock Appreciation Rights; (c) Restricted Stock; and (d) Other Stock-Based Awards. Awards granted under this Plan shall be evidenced by Award Agreements (which need not be identical) that provide additional
terms and conditions associated with such Awards, including, without limitation, restrictive covenants, as determined by the Committee in its sole discretion; provided, however, that in the event of any conflict between the provisions
of this Plan and any such Award Agreement, the provisions of the Plan shall prevail unless otherwise indicated in the Award Agreement. 
  

	Article 5.	Shares Subject to this Plan 

 5.1 Number of Shares Available for Awards. Subject to adjustment as provided in this Article 5 and Article 11 of the Plan, the maximum number of Shares available for issuance to
Participants pursuant to Awards under the Plan shall be 44,021.264. The Shares available for issuance under the Plan may consist, in whole or in part, of authorized and unissued Shares or treasury Shares. Any Shares tendered to or withheld by the
Company as part or full payment for the purchase price, Option Price or grant price of an Award or to satisfy all or part of the Company’s tax withholding obligation with respect to an Award shall not be available for the issuance of additional
Awards. 
 5.2 Additional Shares. In the event that any outstanding Award expires or is forfeited, cancelled or otherwise
terminated without consideration (i.e., Shares or cash) therefor, the Shares subject to such Award, to the extent of any such forfeiture, cancellation, expiration or termination, shall again be available for Awards under this Plan. If the Committee
authorizes the assumption under this Plan, in connection with any merger, consolidation, reorganization or acquisition of property or stock, of awards granted under another plan, such assumption shall not reduce the maximum number of Shares
available for issuance under this Plan. 
  

	Article 6.	Options 

 6.1 Grant of
Options. The Committee is hereby authorized to grant Options to Participants. Each Option shall permit a Participant to purchase from the Company a stated number of Shares at an Option Price established by the Committee, subject to the terms and
conditions described in this Article 6 and to such additional terms and conditions, as established by the Committee, in its sole discretion, as are consistent with the provisions of the Plan. Options shall be designated as either Incentive
Stock Options or Nonqualified Stock Options; provided, that, Options granted to Directors shall be Nonqualified Stock Options. An Option granted as an Incentive Stock Option shall, to the extent it fails to qualify under the Code as an
Incentive Stock Option, be treated as a Nonqualified Stock Option. None of the Committee, the Company, any of its Subsidiaries or Affiliates, or any of their employees or representatives shall be liable to any Participant or to any other Person if
it is determined that an Option intended to be an Incentive Stock Option does not qualify under the Code as an Incentive Stock Option. Each Option shall be evidenced by an Award Agreement that shall state the number of Shares covered by such Option.
Such Award Agreements shall conform to the requirements of the Plan and may contain such other provisions as the Committee shall deem advisable. 

  
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 6.2 Option Price. The Option Price shall be determined by the Committee at the time
of grant but shall not be less than one hundred percent (100%) of the Fair Value of a Share on the date of grant. In the case of any Incentive Stock Option granted to a Ten-Percent Shareholder, the Option Price shall not be less than one
hundred ten percent (110%) of the Fair Value of a Share on the date of grant. 
 6.3 Option Term. The term of each
Option shall be determined by the Committee at the time of grant and shall be stated in the Award Agreement, but in no event shall such term be greater than ten (10) years (or, in the case of an Incentive Stock Option granted to a Ten-Percent
Shareholder, five (5) years). 
 6.4 Time of Exercise. Options granted under this Article 6 shall be
exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve as set forth in each Award Agreement, which terms and restrictions need not be the same for each grant or for each
Participant. 
 6.5 Method of Exercise. Except as otherwise provided in the Plan or in an Award Agreement, an Option may
be exercised for all, or from time to time any part, of the Shares for which it is then exercisable. For purposes of this Article 6, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company
and, if applicable, the date full payment is received by the Company pursuant to clause (a), (b), (c), (d), or (e) of the following sentence (including the applicable tax withholding pursuant to Section 14.3 of the Plan). The
aggregate Option Price for the Shares as to which an Option is exercised shall be paid to the Company in full at the time of exercise at the election of the Participant: (a) in cash or its equivalent (e.g., by cashier’s check); (b) to
the extent permitted by the Committee, in its sole discretion, in Shares (whether or not previously owned by the Participant) having a Fair Value equal to the aggregate Option Price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee; (c) partly in cash and, to the extent permitted by the Committee in its sole discretion, partly in such Shares (as described in (b) above); (d) to the extent permitted by the Committee,
in its sole discretion, by reducing the number of Shares otherwise deliverable upon the exercise of the Option by the number of Shares having a Fair Value equal to the aggregate Option Price; or (e) if there is a public market for the Shares at
such time, subject to such requirements as may be imposed by the Committee, through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of
the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased. The Committee may authorize any additional method of payment that it determines, in its sole discretion, to be consistent with applicable law and the
purpose of the Plan. 
 6.6 Limitations on Incentive Stock Options. Incentive Stock Options may be granted only to
employees of the Company or of a “parent corporation” or “subsidiary corporation” (as such terms are defined in Section 424 of the Code) at the date of grant. The aggregate Fair Value (generally determined as of the time the
Option is granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by a Participant during any calendar year under all plans of the Company and of any “parent corporation” or “subsidiary
corporation” shall not exceed one hundred thousand dollars ($100,000), or the Option shall be treated as a Nonqualified Stock Option, but only to the extent of that portion of 

  
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the Option in excess of the limit. For purposes of the preceding sentence, unless otherwise designated by the Company, Incentive Stock Options will be taken into account in the order in which
they are granted. Each provision of the Plan and each Award Agreement relating to an Incentive Stock Option shall be construed so that each Incentive Stock Option shall be an incentive stock option as defined in Section 422 of the Code, and any
provisions of the Award Agreement thereof that cannot be so construed shall be disregarded. During a Participant’s lifetime Incentive Stock Options granted to such Participant shall be exercisable only by such Participant. 

 

	Article 7.	Stock Appreciation Rights 

7.1 Grant of Stock Appreciation Rights. The Committee is hereby authorized to grant Stock Appreciation Rights to Participants.
Stock Appreciation Rights shall be evidenced by Award Agreements that shall conform to the requirements of the Plan and may contain such other provisions as the Committee shall deem advisable. Subject to the terms of the Plan and any applicable
Award Agreement, a Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to receive, upon exercise thereof, the excess of: (a) the Fair Value of a specified number of Shares on the date of exercise over
(b) the grant price of the right as specified by the Committee on the date of the grant. Such payment may be in the form of cash, Shares, other property or any combination thereof, as the Committee shall determine in its sole discretion.

 7.2 Terms of Stock Appreciation Right. Each Stock Appreciation Right grant shall be evidenced by an Award Agreement
that shall state the grant price (which shall not be less than one hundred percent (100%) of the Fair Value of a Share on the date of grant), term, methods of exercise, methods of settlement and such other provisions as the Committee shall
determine. No Stock Appreciation Right shall have a term of more than ten (10) years from the date of grant. 
  

	Article 8.	Restricted Stock 

 8.1
Grant of Restricted Stock. The Committee is hereby authorized to grant Restricted Stock to Participants. An Award of Restricted Stock is a grant by the Committee of a specified number of Shares to the Participant, which Shares are subject to
forfeiture upon the occurrence of specified events. Participants shall be awarded Restricted Stock in exchange for consideration not less than the minimum consideration required by applicable law. Restricted Stock shall be evidenced by an Award
Agreement, which shall conform to the requirements of the Plan and may contain such other provisions as the Committee shall deem advisable. 
 8.2 Terms of Restricted Stock Awards. Each Award Agreement evidencing a Restricted Stock grant shall specify the Restriction Period(s), the number of Shares of Restricted Stock subject to the
Award, the purchase price, if any, of the Restricted Stock, the performance, employment or other service or other conditions (including the termination of a Participant’s employment or other service, whether due to death, Disability or other
reason) under which the Restricted Stock may be forfeited to the Company and such other provisions as the Committee shall determine. Any Restricted Stock granted under the Plan shall be evidenced in such manner as the Committee may deem appropriate,
including book-entry registration or issuance of a stock certificate or certificates (in which case, the certificate(s) representing such Shares shall be 

  
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legended as to sale, transfer, assignment, pledge or other encumbrances during the Restriction Period and deposited by the Participant, together with a stock power endorsed in blank, with the
Company, to be held in escrow during the Restriction Period). At the end of the Restriction Period, the restrictions imposed hereunder and under the Award Agreement shall lapse with respect to the number of Shares of Restricted Stock as determined
by the Committee, and, except as provided in Section 14.6, the legend required by this Section 8.2 shall be removed and such number of Shares delivered to the Participant (or, where appropriate, the Participant’s legal
representative). 
 8.3 Voting and Dividend Rights. The Committee shall determine and set forth in a Participant’s
Award Agreement whether or not a Participant holding Restricted Stock granted hereunder shall have the right to exercise voting rights with respect to the Restricted Stock during the Restriction Period (the Committee may require a Participant to
grant an irrevocable proxy and power of substitution) and/or have the right to receive dividends on the Restricted Stock during the Restriction Period (and, if so, on what terms). 

8.4 Performance Goals. The Committee may condition the grant of Restricted Stock or the expiration of the Restriction Period upon
the Participant’s achievement of one or more performance goals specified in the Award Agreement. If the Participant fails to achieve the specified performance goal(s), the Committee shall not grant the Restricted Stock to such Participant or
the Participant shall forfeit the Award of Restricted Stock to the Company, as applicable. 
 8.5 Section 83(b)
Election. If a Participant makes an election pursuant to Section 83(b) of the Code concerning Restricted Stock, the Participant shall be required to file promptly a copy of such election with the Company. 

 

	Article 9.	Other Stock-Based Awards 

The Committee, in its sole discretion, may grant Awards of Shares and Awards that are valued, in whole or in part, by reference to, or are
otherwise based on the Fair Value of, Shares, including, without limitation, restricted stock units, dividend equivalent rights and other phantom awards. Such Other Stock-Based Awards shall be in such form and dependent on such conditions as the
Committee shall determine, including, without limitation, the right to receive one or more Shares (or the equivalent cash value of such Shares) upon the completion of a specified period of employment or other service, the occurrence of an event
and/or the attainment of performance objectives. Subject to the provisions of the Plan, the Committee shall determine to whom and when Other Stock-Based Awards will be made, the number of Shares to be awarded under (or otherwise related to) such
Other Stock-Based Awards, whether such Other Stock-Based Awards shall be settled in cash, Shares or a combination of cash and Shares and all other terms and conditions of such Awards (including, without limitation, the vesting provisions thereof and
provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). Each Other Stock-Based Award grant shall be evidenced by an Award Agreement, which shall conform to the requirements of the Plan. 

  
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	Article 10.	Compliance with Section 409A of the Code 

 10.1 General. The Company intends that the Plan and all Awards be construed to avoid the imposition of additional taxes, interest and penalties pursuant to Section 409A of the Code (together
with all regulations, guidance, compliance programs and other interpretative authority thereunder, “Section 409A”). Notwithstanding the Company’s intention, in the event that any Award is subject to such additional taxes,
interest or penalties pursuant to Section 409A, the Committee may, in its sole discretion and without a Participant’s prior consent, amend the Plan and/or Awards, adopt policies and procedures or take any other actions (including
amendments, policies, procedures and actions with retroactive effect) as are necessary or appropriate to (a) exempt the Plan and/or any Award from the application of Section 409A, (b) preserve the intended tax treatment of any such
Award or (c) comply with the requirements of Section 409A, including, without limitation, any such regulations, guidance, compliance programs and other interpretative authority that may be issued after the date of the grant. Neither the
Company nor any of its Subsidiaries or Affiliates shall be liable for any additional tax, interest or penalties that may be imposed on a Participant under Section 409A or any damages that may be imposed on a Participant or any other Person for
failing to comply with Section 409A, but only if Awards are granted, administered and settled in accordance with the terms of this Plan and the underlying Award Agreements. 

10.2 Payments to Specified Employees. Notwithstanding any contrary provision in the Plan or Award Agreement, any payment(s) of
nonqualified deferred compensation (within the meaning of Section 409A) that are otherwise required to be made under the Plan to a “specified employee” (as defined under Section 409A) as a result of his or her separation from
service (other than a payment that is not subject to Section 409A) shall be delayed for the first six (6) months following such separation from service (or, if earlier, until the date of death of the specified employee) and shall instead
be paid (in a manner set forth in the Award Agreement) on the day that immediately follows the end of such six-month period or as soon as administratively practicable thereafter. Any remaining payments of nonqualified deferred compensation shall be
paid without delay and at the time or times such payments are otherwise scheduled to be made. 
 10.3 Separation from
Employment or Other Service. A termination of employment or other service shall not be deemed to have occurred for purposes of any provision of the Plan or any Award Agreement providing for the payment of any amounts or benefits that are
considered nonqualified deferred compensation under Section 409A upon or following a termination of employment or other service, unless such termination is also a “separation from service” within the meaning of Section 409A and
the payment thereof prior to a “separation from service” would violate Section 409A. For purposes of any such provision of the Plan or any Award Agreement relating to any such payments or benefits, references to a
“termination,” “termination of employment,” “termination of service,” or like terms shall mean “separation from service.” 
  

	Article 11.	Adjustments 

 11.1
Adjustments in Authorized Shares. In the event of any corporate event or transaction involving the Company, a Subsidiary and/or an Affiliate (including, but not limited to, a change in the Shares of the Company or the capitalization of the
Company), such as a merger, consolidation, reorganization, recapitalization, partial or complete liquidation, 

  
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reclassification, separation, stock dividend, stock split, reverse stock split, split up, spin-off, combination of Shares, exchange of Shares, dividend in kind, extraordinary cash dividend,
amalgamation or other like change in capital structure, distribution of any kind or any similar corporate event or transaction, the Committee, to prevent dilution or enlargement of Participants’ rights under the Plan, shall choose, in its sole
discretion, one or more of the following actions, which the Committee shall take in an equitable manner, (a) substitute or adjust the number and kind of Shares or other property that may be issued under the Plan or under particular forms of
Awards, (b) substitute or adjust the number and kind of Shares or other property subject to outstanding Awards, (c) adjust the Option Price, grant price or purchase price applicable to outstanding Awards and/or other value determinations
(including performance conditions) applicable to the Plan or outstanding Awards, (d) permit the holders of outstanding Awards to participate in the corporate event or transaction, or (e) issue additional Awards or Shares or make cash
payments to the holders of outstanding Awards. All adjustments shall be made in good faith compliance with Section 409A. For the avoidance of doubt, management fees payable pursuant to the Advisory Services and Monitoring Agreement by and among
the Company, CCMP Capital Advisors, LLC and certain other parties, dated as of June 30, 2014, as may be amended from time to time, shall in no event be considered a dividend for purposes of this Section 11.1. 

11.2 Change of Control. Upon the occurrence of a Change of Control after the Effective Date, unless otherwise specifically
prohibited under applicable laws or by the rules and regulations of any governing governmental agencies or national securities exchanges, or unless the Committee shall specify otherwise in the Award Agreement, the Committee shall choose, in its sole
discretion, to make one or more of the following adjustments in the terms and conditions of outstanding Awards (which, for the avoidance of doubt, shall exclude any Options or any portions thereof for which a notice of exercise has been received by
the Company): (a) continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (b) substitution by the
surviving company or corporation or its parent of awards with substantially equivalent terms for outstanding Awards (excluding the type of consideration payable upon settlement of the Awards); (c) accelerated exercisability, vesting and/or
lapse of restrictions under outstanding Awards immediately prior to the occurrence of such event; (d) upon written notice, provision that any outstanding Awards must be exercised, to the extent then exercisable, during a reasonable period of
time immediately prior to the scheduled consummation of the event or such other period as determined by the Committee (contingent upon the consummation of the event), and at the end of such period, such Awards shall terminate to the extent not so
exercised within the relevant period; (e) cancellation of all or any portion of outstanding Awards for consideration (in the form of cash, Shares, other property or any combination thereof) equal to the Fair Value of the Shares subject to such
Award (or the portion thereof being canceled) and which value may be zero, provided, that, in the case of Options and Stock Appreciation Rights or similar Awards, the Participant shall be entitled to the excess, if any, of the value of the
consideration to be paid in the Change of Control transaction to holders of the same number of Shares subject to such Awards (or, if no such consideration is paid, the aggregate Fair Value of the Shares subject to such outstanding Awards or the
portion thereof being canceled) over the aggregate Option Price or grant price, as applicable, with respect to such Awards or portion thereof being canceled, or if there is no such excess, zero; and (f) cancellation of all or any portion of
outstanding unvested and/or unexercisable Awards for no consideration. 

  
 11 

	Article 12.	Duration; Amendment, Modification, Suspension and Termination 

 12.1 Duration of Plan. Unless sooner terminated as provided in Section 12.2, this Plan shall terminate on the tenth anniversary of the Effective Date. 

12.2 Amendment, Modification, Suspension and Termination of Plan. Subject to the terms of the Plan, the Committee may, in its sole
discretion, amend, alter, suspend, discontinue or terminate this Plan or any portion thereof or any Award hereunder at any time; provided, that, no action taken by the Committee shall adversely affect the rights granted to any
Participant under any outstanding Awards (other than pursuant to Article 10, in order to implement Article 11 or as the Committee deems necessary to comply with applicable law, including, without limitation, the Dodd-Frank Wall Street
Reform and Consumer Protection Act) without the Participant’s written consent. 
  

	Article 13.	Forfeiture of Awards Upon Termination of Employment or Other Service 

 13.1 Termination for Cause. Unless otherwise provided in an Award Agreement, in the event that a Participant’s employment or other service is terminated for Cause, all Awards, including vested
Options and Stock Appreciation Rights, held by the Participant shall terminate and be forfeited, effective on the date the Participant’s employment or other service, as applicable, is terminated for Cause. 

13.2 Termination for any Other Reason. Unless otherwise provided in an Award Agreement, in the event that a Participant’s
employment or other service is terminated by the Company for any reason other than for Cause or by the Participant for any reason, (a) all unvested Awards held by the Participant shall terminate and be forfeited effective as of the date the
Participant’s employment or other service is terminated and (b) all vested Options and Stock Appreciation Rights shall terminate and be forfeited on the earlier of (i) the date the term of such Options and Stock Appreciation Rights
expires and (ii) one (1) year following the termination of the Participant’s employment or other service, as applicable. 
  

	Article 14.	General Provisions 

14.1 No Right to Employment or Other Service or Award. The granting of an Award under the Plan shall impose no obligation on the
Company, any Subsidiary or any Affiliate to continue the employment or other service of a Participant and shall not lessen or affect any right that the Company, any Subsidiary or any Affiliate may have to terminate the employment or other service of
such Participant. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the
Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly situated). 

14.2 Settlement of Awards. Each Award Agreement shall establish the form in which the Award shall be settled. The Committee shall
determine whether cash, Awards, other securities or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be issued, rounded, forfeited or otherwise eliminated. 

  
 12 

 14.3 Tax Withholding. The Company shall have the power and the right to deduct or
withhold automatically from any amount deliverable under the Award or otherwise, or to require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state and local taxes, domestic or foreign, required by law or
regulation to be withheld with respect to any taxable event arising as a result of the Plan. Participants may elect, subject to the approval of the Committee, in its sole discretion, to satisfy the withholding requirement, in whole or in part, by
having the Company withhold Shares having a Fair Value equal to the minimum statutory total tax that could be imposed in connection with any such taxable event. 
 14.4 No Guarantees Regarding Tax Treatment. Participants (or their beneficiaries) shall be responsible for all taxes with respect to any Awards under the Plan. The Committee and the Company make no
guarantees to any Person regarding the tax treatment of Awards or payments made under the Plan. Neither the Committee nor the Company has any obligation to take any action to prevent the assessment of any tax on any Person with respect to any Award
under Section 409A or 457A of the Code or otherwise, and none of the Company, any of its Subsidiaries or Affiliates or any of their employees or representatives shall have any liability to a Participant with respect thereto. 

14.5 Non-Transferability of Awards. Unless otherwise determined by the Committee, an Award shall not be transferable or assignable
by the Participant except in the event of the Participant’s death (subject to the applicable laws of descent and distribution), and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and
unenforceable against the Company or any Affiliate. No transfer shall be permitted for value or consideration. An award exercisable after the death of a Participant may be exercised by the heirs, legatees, personal representatives or distributees of
the Participant. Any permitted transfer of the Awards to heirs, legatees, personal representatives or distributees of the Participant shall not be effective to bind the Company unless the Committee shall have been furnished with written notice
thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 

14.6 Stockholders’ Agreement; Conditions and Restrictions on Shares. Shares received in connection with Awards granted
hereunder shall be subject to all of the terms and conditions of the Stockholders’ Agreement, including all transfer restrictions and repurchase rights set forth therein. As a condition to receiving, exercising or settling an Award, each
Participant shall sign a joinder agreement pursuant to which the Participant shall become fully bound by the terms set forth in the Stockholders’ Agreement. The certificates for Shares may include any legend that the Committee deems appropriate
to reflect any conditions and restrictions applicable to such Shares. 
 14.7 Shares Not Registered. Shares and Awards
shall not be issued under this Plan unless the issuance and delivery of such Shares and any Awards comply with (or are exempt from) all applicable requirements of law, including, without limitation, the Securities Act of 1933, as amended, the rules
and regulations promulgated thereunder, state securities laws and regulations and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. The Company shall not be obligated to file
any registration statement under any applicable securities laws to permit the purchase or issuance of 

  
 13 

 
any Shares or any Awards under this Plan, and accordingly, any certificates for Shares or documents granting Awards may have an appropriate legend or statement of applicable restrictions endorsed
thereon. If the Company deems it necessary to ensure that the issuance of securities under this Plan is not required to be registered under any applicable securities laws, each Participant with respect to whom such security would be purchased or
issued shall deliver to the Company an agreement or certificate containing such representations, warranties and covenants as the Company reasonably requires. 
 14.8 Awards to Non-U.S. Employees or Directors. To comply with the laws in countries other than the United States in which the Company or any Subsidiary or Affiliate operates or has Employees,
Directors or Consultants, the Committee, in its sole discretion, shall have the power and authority to: (a) determine which Subsidiaries or Affiliates shall be covered by the Plan; (b) determine which Employees, Directors or Consultants
outside the United States are eligible to participate in the Plan; (c) modify the terms and conditions of any Award granted to Employees, Directors or Consultants outside the United States to comply with applicable foreign laws; (d) take
any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals; and (e) establish subplans and modify exercise procedures and other terms
and procedures, to the extent such actions may be necessary or advisable, including in accordance with Appendix I attached hereto. 
 14.9 Rights as a Stockholder. Except as otherwise provided herein or in the applicable Award Agreement, a Participant shall have none of the rights of a stockholder with respect to Shares covered
by any Award until the Participant becomes the record holder of such Shares. 
 14.10 Severability. If any provision of
the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision
shall be construed or deemed amended to conform to applicable laws, or, if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction, Person or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. 
 14.11 Unfunded Plan. Participants shall have no right, title or interest whatsoever in or to any investments that the Company or any of its Subsidiaries or Affiliates may make to aid it in meeting
its obligations under the Plan. Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and any Participant,
beneficiary, legal representative or other Person. To the extent that any Person acquires a right to receive payments from the Company under the Plan, such right shall be no greater than the right of an unsecured general creditor of the Company. All
payments to be made hereunder shall be paid from the general funds of the Company, and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts. The Plan is not subject to the U.S.
Employee Retirement Income Security Act of 1974, as amended from time to time. 

  
 14 

 14.12 No Constraint on Corporate Action. Nothing in the Plan shall be construed to
(a) limit, impair or otherwise affect the Company’s right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer all
or any part of its business or assets; or (b) limit the right or power of the Company to take any action that it deems necessary or appropriate. 
 14.13 Successors. All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is
the result of a direct or indirect purchase, merger, consolidation or otherwise, of all or substantially all of the business or assets of the Company. 
 14.14 Governing Law. This Plan and each Award Agreement and all claims or causes of action or other matters (whether in contract, tort or otherwise) that may be based upon, arise out of or relate
to this Plan or any Award Agreement or the negotiation, execution or performance of this Plan or any Award Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, excluding any conflict- or choice-of-law
rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction. 
 14.15 Effective Date. The Plan shall be effective as of the date of adoption by the Board, which date is set forth below (the “Effective Date”). 

*                    *  
                  * 
 This Plan
was duly adopted and approved by the Board of Directors of the Company and the Company’s stockholders on June 30, 2014. 

  
 15 

 APPENDIX I 
 CANADIAN RESIDENT EMPLOYEES 
  

	1.	This Appendix I shall apply to all Participants who are Canadian Resident Employees (as defined below). In the event that a Participant becomes a Canadian Resident
Employee subsequent to the grant of an Award under the Plan, then, pursuant to Section 12.2 of the Plan, such Award shall immediately and automatically be amended in a manner consistent with this Schedule unless otherwise determined by the
Committee. 

  

	2.	In this Schedule, the following terms shall have the meanings set forth below: 

 ITA means the Income Tax Act (Canada) as it may be amended from time to time and all regulations, interpretations and administrative guidance issued thereunder; and 

Canadian Resident Employee means an Employee who is a resident in Canada for purposes of the ITA and any applicable income tax
treaty or convention. 
  

	3.	Section 5.1 shall be amended to delete the words “tendered to or”. 

 

	4.	Section 6.5 shall be deleted in its entirety and replaced with the following paragraph: 

“Method of Exercise. Except as otherwise provided in the Plan or in an Award Agreement, an Option may be exercised for all, or
from time to time any part, of the Shares for which it is then exercisable. For purposes of this Article 6, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable, the
date full payment is received by the Company pursuant to clause (a), (b) or (c) of the following sentence (including the applicable tax withholding pursuant to Section 14.3 of the Plan). The aggregate Option Price for the
Shares as to which an Option is exercised shall be paid to the Company in full at the time of exercise at the election of the Participant: (a) in cash or its equivalent (e.g., by cashier’s check); (b) to the extent permitted by the
Committee, in its sole discretion, by having the Company refrain from issuing that number of shares that would otherwise be issued to the Participant upon exercise of the Option having a Fair Value equal to the aggregate Option Price for the Shares
being purchased; or (c) if there is a public market for the Shares at such time, subject to such requirements as may be imposed by the Committee, through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the
exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased. The Committee may authorize any additional method of payment that it
determines, in its sole discretion, to be consistent with applicable law and the purpose of the Plan. 
  

	5.	The second sentence of Section 14.3 shall be deleted and replaced with the following sentence: 

“The Participant may elect, subject to the approval of the Committee, in its sole discretion, to satisfy the withholding requirement,
in whole or in part, by having the Company refrain from issuing that number of shares that would otherwise be issued to the Participant upon exercise of an Option having a Fair Value equal to the minimum statutory total tax that could be imposed in
connection with such exercise.”EX-4.3

 Exhibit 4.3 

APPLIED MICRO CIRCUITS CORPORATION 

2012 EMPLOYEE STOCK PURCHASE PLAN 

(as amended effective August 12, 2014) 

The following constitute the provisions of the 2012 Employee Stock Purchase Plan of Applied Micro Circuits Corporation (the “Plan”).

 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common
Stock of the Company. It is the intention of the Company to have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the Internal Revenue Code of 1986, as amended. The provisions of the Plan shall, accordingly,
be construed so as to extend and limit participation in a manner consistent with the requirements of that section of the Code. 
 2. Definitions.

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

(b) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(c) “Common Stock” shall mean the Common Stock of the Company. 

(d) “Company” shall mean Applied Micro Circuits Corporation, a Delaware corporation. 

(e) “Compensation” shall mean all base straight time gross earnings including payments for overtime, shift premium, sales
department commissions/bonus plan, but excluding all other bonuses and reimbursements. 
 (f) “Continuous Status as an
Employee” shall mean the absence of any interruption or termination of service as an Employee. Continuous Status as an Employee shall not be considered interrupted in the case of a leave of absence agreed to in writing by the Company,
provided that such leave is for a period of not more than 90 days or reemployment upon the expiration of such leave is guaranteed by contract or statute. 

(g) “Contributions” shall mean all amounts credited to the account of a participant pursuant to the Plan. 

(h) “Designated Subsidiaries” shall mean the Subsidiaries which have been designated by the Committee from time to time in
its sole discretion as eligible to participate in the Plan. 
 (i) “Employee” shall mean any person, including an Officer,
who is customarily employed for at least twenty (20) hours per week and more than five (5) months in a calendar year by the Company or one of its Designated Subsidiaries. 

(j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(k) “Purchase Date” shall mean the last day of each Purchase Period of the Plan. 

(l) “Offering Date” shall mean the first business day of each Offering Period of the Plan. 

(m) “Offering Period” shall mean a period of six (6) months, commencing on February 1 and August 1 of each
year, except for the first Offering Period as set forth in Section 4(a) and as otherwise determined by the Committee with respect to any particular Offering Period. 

(n) “Officer” shall mean a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act
and the rules and regulations promulgated thereunder. 
 (o) “Plan” shall mean this 2012 Employee Stock Purchase Plan. 

 (p) “Purchase Period” shall mean a period of six (6) months coinciding with
each Offering Period, including the first Purchase Period as set forth in Section 4(b). 
 (q) “Purchase Price” shall
mean an amount equal to 85% of the Fair Market Value of a share of Common Stock as defined in Section 7(b) on the Offering Date or on the Purchase Date, whichever is lower, provided, however, that, in the event (i) the Company’s
stockholders approve an increase in the number of shares available for issuance under the Plan, and (ii) all or a portion of such additional shares are to be issued with respect to one or more Offering Periods that are underway at the time of
such stockholder approval (“Additional Shares”), and (iii) the Fair Market Value of a share of Common Stock on the date of such approval (the “Approval Date Fair Market Value”) is higher than the Fair Market Value on the
Offering Date for any such Offering Period, then in such instance the Purchase Price with respect to Additional Shares shall be 85% of the Approval Date Fair Market Value or the Fair Market Value of a share of Common Stock on the Purchase Date,
whichever is lower. 
 (r) “Subsidiary” shall mean a corporation, domestic or foreign, of which not less than 50% of the
voting shares are held by the Company or a Subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary. In all cases, the determination of whether an entity is a Subsidiary shall be
made in accordance with Section 424(f) of the Code. 
 3. Eligibility. 

(a) Any person who is an Employee as of the Offering Date of a given Offering Period shall be eligible to participate in such Offering Period
under the Plan, subject to the requirements of Section 5(a) and the limitations imposed by Section 423(b) of the Code. 
 (b) Any
provisions of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan (i) if, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to
Section 424(d) of the Code) would own stock and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary of
the Company, or (ii) if such option would permit his or her rights to purchase stock under all employee stock purchase plans (described in Section 423 of the Code) of the Company and its Subsidiaries to accrue at a rate which exceeds
Twenty-Five Thousand Dollars ($25,000) of fair market value of such stock (determined at the time such option is granted) for any calendar year in which such option is outstanding at any time. 

4. Offering Periods and Purchase Periods. 

(a) Offering Periods. The Plan shall be implemented by a series of Offering Periods with new Offering Periods commencing on or about
February 1 and August 1 of each year (or at such other time or times as may be determined by the Committee). The first Offering Period shall commence on the date that the Company’s stockholders first approve the Plan and will continue
until January 31, 2013. The Plan shall continue until terminated in accordance with Section 18 hereof. The Committee shall have the power to change the duration and/or the frequency of Offering Periods with respect to future offerings
without shareholder approval if such change is announced prior to the scheduled beginning of the first Offering Period to be affected. Eligible employees may not participate in more than one Offering Period under the Plan at a time. 

(b) Purchase Periods. Except as otherwise determined by the Committee, each Offering Period shall coincide with an identical purchase
period of six (6) months duration. The last day of each Purchase Period shall be the “Purchase Date” for such Purchase Period. A Purchase Period commencing on February 1 shall end on the next July 31. A Purchase Period
commencing on August 1 shall end on the next January 31. The first Purchase Period shall commence on the date that the Plan is first approved by the Company’s stockholders and shall end on January 31, 2013. The Committee shall
have the power to change the duration and/or frequency of Purchase Periods with respect to future purchases without shareholder approval if such change is announced prior to the scheduled beginning of the first Purchase Period to be affected. 

5. Participation. 
 (a) An eligible
Employee may become a participant in the Plan by completing a subscription agreement on the form provided by the Company and filing it with the Company’s payroll office prior to the applicable Offering Date, unless a later time for filing the
subscription agreement is set by the Committee for all eligible Employees with respect to a given offering. The subscription agreement shall set forth the percentage of the participant’s Compensation (which shall be not less than 1% and not
more than 20%) to be paid as Contributions pursuant to the Plan. 

 (b) Payroll deductions shall commence on the first payroll following the Offering Date and shall
end on the last payroll paid on or prior to the last Purchase Period of the Offering Period to which the subscription agreement is applicable, unless sooner terminated by the participant as provided in Section 10. 

6. Method of Payment of Contributions. 

(a) At the time a participant files his or her subscription agreement, the participant shall elect to have payroll deductions made on each
payday during the Offering Period in an amount not less than one percent (1%) and not more than twenty percent (20%) of such participant’s Compensation on each such payday. All payroll deductions made by a participant shall be
credited to his or her account under the Plan. A participant may not make any additional payments into such account. 
 (b) A participant
may discontinue his or her participation in the Plan as provided in Section 10, or, during the Offering Period may increase or decrease the rate of his or her Contributions during such Offering Period by completing and filing with the Company a
new subscription agreement; provided, however, that, unless otherwise provided by the Committee, no participant may effect more than one increase or decrease during a Purchase Period. The change in rate shall be effective as of the beginning of the
next pay period following the date of filing of the new subscription agreement, if the agreement is filed at least ten (10) business days prior to such date and, if not, as of the beginning of the next succeeding pay period (unless otherwise
provided by the Committee). 
 (c) Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code
and Section 3(b) herein, a participant’s payroll deductions may be decreased to 0% at such time during any Offering Period as is necessary to comply with the limitations provided in such Sections. Payroll deductions shall re-commence at
the rate provided in such participant’s subscription Agreement at such time as will comply with such Sections, unless terminated by the participant as provided in Section 10. 

7. Grant of Option. 
 (a)
On the Offering Date of each Offering Period, each eligible Employee participating in such Offering Period shall be granted an option to purchase on each Purchase Date a number of shares of the Company’s Common Stock determined by dividing such
Employee’s Contributions accumulated prior to such Purchase Date and retained in the participant’s account as of the Purchase Date by the applicable Purchase Price; provided however, that the maximum number of shares an Employee may
purchase during each Purchase Period shall be 2,500 shares and provided further that such purchase shall be subject to the limitations set forth in Sections 3(b) and 13. The fair market value of a share of the Company’s Common Stock shall
be determined as provided in Section 7(b). 
 (b) The fair market value of the Company’s Common Stock on a given date shall be
determined by the Committee in its discretion based on the closing price of the Common Stock for such date (or, in the event that the Common Stock is not traded on such date, on the immediately preceding trading date), as reported by the NASDAQ
Stock Market or, if such price is not reported, the mean of the bid and asked prices per share of the Common Stock as reported by NASDAQ or, in the event the Common Stock is listed on a stock exchange, the fair market value per share shall be the
closing price on such exchange on such date (or, in the event that the Common Stock is not traded on such date, on the immediately preceding trading date), as reported in The Wall Street Journal; provided, however, that for Offering Periods
beginning on or after February 1, 2013, the fair market value of the Company’s Common Stock on the first day of each such Offering Period shall be determined by the Committee in its discretion based on the closing price of the Common Stock
on the last market trading day prior to such date, as reported by the NASDAQ Stock Market or, if such price is not reported, the mean of the bid and asked prices per share of the Common Stock as reported by NASDAQ or, in the event the Common Stock
is listed on a stock exchange, the fair market value per share shall be the closing price on such exchange on the last market trading day prior to such date, as reported in The Wall Street Journal (the “Fair Market Value”). 

8. Exercise of Option. Unless a participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares will
be exercised automatically on each Purchase Date of an Offering Period, and the maximum number of full shares subject to the option will be purchased at the applicable Purchase Price with the accumulated Contributions in his or her account. The
shares purchased upon exercise of an option hereunder shall be deemed to be transferred to the participant on the Purchase Date. No fractional shares shall be purchased. Any payroll deductions accumulated in a participant’s account which are
not sufficient to purchase a full share shall be retained in the participant’s account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the participant as provided in Section 10. Any other monies left
over in a participant’s account after a Purchase Date, including amounts that would have purchased shares in excess of the maximum allowed under Section 7(a), shall be returned to the Participant. During his or her lifetime, a
participant’s option to purchase shares hereunder is exercisable only by him or her. 

 9. Delivery. As promptly as practicable after each Purchase Date of each Offering Period, the Company
shall arrange the delivery to each participant, as appropriate, of a certificate representing the shares purchased upon exercise of his or her option or the deposit of such number of shares with the broker selected by the Company for administration
of Plan stock purchases, as determined by the Company. 
 10. Voluntary Withdrawal; Termination of Employment. 

(a) A participant may withdraw all but not less than all of the Contributions credited to his or her account under the Plan at any time at
least five (5) business days (or such other time period specified by the Company) prior to each Purchase Date by giving written notice to the Company in the form provided for by the Company. All of the participant’s Contributions credited
to his or her account will be paid to him or her promptly after receipt of his or her notice of withdrawal and his or her option for the current period will be automatically terminated, and no further Contributions for the purchase of shares will be
made during the Offering Period. 
 (b) Upon termination of the participant’s Continuous Status as an Employee prior to the Purchase
Date of an Offering Period for any reason, including retirement or death, the Contributions credited to his or her account will be returned to him or her or, in the case of his or her death, to the person or persons entitled thereto under
Section 14, and his or her option will be automatically terminated. 
 (c) In the event an Employee fails to remain in Continuous
Status as an Employee of the Company for at least twenty (20) hours per week during the Offering Period in which the employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the Contributions credited to
his or her account will be returned to him or her and his or her option terminated. 
 (d) A participant’s withdrawal from an offering
will not have any effect upon his or her eligibility to participate in a succeeding offering or in any similar plan which may hereafter be adopted by the Company. 

11. Automatic Withdrawal. If the Fair Market Value of the shares on a Purchase Date during an Offering Period (other than the last Purchase Date of
such Offering Period) is less than the Fair Market Value of the shares on the Offering Date for such Offering Period, then every participant shall automatically (i) be withdrawn from such Offering Period at the close of such Purchase Date and
after the acquisition of shares for such Purchase Period, and (ii) be enrolled in the Offering Period commencing on the first business day subsequent to such Purchase Period. 

12. Interest. No interest shall accrue on the Contributions of a participant in the Plan. 

13. Stock. 
 (a) The maximum number of
shares of the Company’s Common Stock which shall be made available for sale under the Plan shall be three million eight hundred thousand (3,800,000) shares subject to adjustment upon changes in capitalization of the Company as provided in
Section 18. If the total number of shares which would otherwise be subject to options granted pursuant to Section 7(a) on the Offering Date of an Offering Period exceeds the number of shares then available under the Plan (after deduction
of all shares for which options have been exercised or are then outstanding), the Company shall make a pro rata allocation of the shares remaining available for option grant in as uniform a manner as shall be practicable and as it shall determine to
be equitable. In such event, the Company shall give written notice of such reduction of the number of shares subject to the option to each Employee affected thereby and shall similarly reduce the rate of Contributions, if necessary. 

(b) The participant will have no interest or voting right in shares covered by his or her option until such option has been exercised. 

(c) Shares to be delivered to a participant under the Plan will be registered in the name of the participant or in the name of the participant
and his or her spouse. 
 14. Administration. The Board, or a committee named by the Board (the “Committee”), shall supervise and
administer the Plan and shall have full power to adopt, amend and rescind any rules deemed desirable and appropriate for the administration of the Plan and not inconsistent with the Plan, to construe and interpret the Plan, and to make all other
determinations necessary or advisable for the administration of the Plan. The composition of the Committee shall be in 

 
accordance with the requirements to obtain or retain any available exemption from the operation of Section 16(b) of the Exchange Act pursuant to Rule 16b-3 promulgated thereunder. In
addition, the Committee may delegate administrative matters relating to the Plan to such of the Company’s officers or employees as the Committee so determines. 

15. Designation of Beneficiary. 
 (a) A
participant may file a written designation of a beneficiary who is to receive any shares and cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to the end of a Purchase Period
but prior to delivery to him or her of such shares and cash. In addition, a participant may file a written designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such
participant’s death prior to the Purchase Date of an Offering Period. If a participant is married and the designated beneficiary is not the spouse, spousal consent shall be required for such designation to be effective. 

(b) Such designation of beneficiary may be changed by the participant (and his or her spouse, if any) at any time by written notice. In the
event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s death, the Company shall deliver such shares and/or cash to the executor or administrator
of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or
relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 16.
Transferability. Neither Contributions credited to a participant’s account nor any rights with regard to the exercise of an option or to receive shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any
way (other than by will, the laws of descent and distribution, or as provided in Section 15) by the participant. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat
such act as an election to withdraw funds in accordance with Section 10. 
 17. Use of Funds. The Company may use all Contributions received or
held by the Company under the Plan for any corporate purpose, and the Company shall not be obligated to segregate such Contributions. 
 18. Adjustments
Upon Changes in Capitalization; Corporate Transactions. 
 (a) Adjustment. Subject to any required action by the shareholders of
the Company, the number of shares of Common Stock covered by each option under the Plan which has not yet been exercised and the number of shares of Common Stock which have been authorized for issuance under the Plan but have not yet been placed
under option (collectively, the “Reserves”), as well as the price per share 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 Committee, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an option. 

(b) Corporate Transactions. In the event of the proposed dissolution or liquidation of the Company, the Offering Period will terminate
immediately prior to the consummation of such proposed action, unless otherwise provided by the Committee. 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, each option under the Plan shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary of such successor corporation, unless the Committee determines, in the exercise of its sole
discretion and in lieu of such assumption or substitution, to shorten the Offering Period then in progress by setting a new Purchase Date (the “New Purchase Date”). If the Committee shortens the Offering Period then in progress in lieu of
assumption or substitution in the event of a merger or sale of assets, the Committee shall notify each participant in writing, at least ten (10) days prior to the New Purchase Date, that the Purchase Date for his or her option has been changed
to the New Purchase Date and that his or her option will be exercised automatically on the New Purchase Date, unless prior to such date he or she has withdrawn from the Offering Period as provided in Section 10. For purposes of this paragraph,
an option granted under the Plan shall be deemed to be assumed if, following the sale of assets or merger, the option confers the right to purchase, for each share of option stock subject to the option immediately prior to the sale of assets or
merger, the consideration (whether stock, cash or other securities or 

 
property) received in the sale of assets or merger by holders of Common Stock for each share of Common Stock held on the effective date of the transaction (and if such 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 such consideration received in the sale of assets or merger was not solely common stock of
the successor corporation or its parent (as defined in Section 424(e) of the Code), the Committee may, with the consent of the successor corporation and the participant, provide for the consideration to be received upon exercise of the option
to be solely common stock of the successor corporation or its parent equal in fair market value to the per share consideration received by holders of Common Stock and the sale of assets or merger. 

The Committee may, if it so determines in the exercise of its sole discretion, also make provision for adjusting the Reserves, as well as the
price per share of Common Stock covered by each outstanding option, in the event that the Company effects one or more reorganizations, recapitalizations, rights offerings or other increases or reductions of shares of its outstanding Common Stock,
and in the event of the Company being consolidated with or merged into any other corporation. 
 19. Amendment or Termination. 

(a) The Committee may at any time and for any reason terminate or amend the Plan. Except as provided in Section 18, no such termination
may affect options previously granted, provided that an Offering Period may be terminated by the Committee on a Purchase Date if the Committee determines that the termination of the Plan is in the best interests of the Company and the shareholders
or if continuation of an Offering Period would cause the Company to incur adverse accounting charges resulting from a change in the generally accepted accounting rules applicable to such plans. Except as provided in Section 18, no amendment may
make any change in any option theretofore granted which adversely affects the rights of any participant. In addition, to the extent necessary to comply with Rule 16b-3 under the Exchange Act, or under Section 423 of the Code (or any successor
rule or provision or any applicable law or regulation), the Company shall obtain shareholder approval in such a manner and to such a degree as so required. 

(b) Without shareholder consent and without regard to whether any participant rights may be considered to have been adversely affected, the
Committee shall be entitled to change the Offering Periods and Purchase 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, and
establish such other limitations or procedures as the Committee determines in its sole discretion advisable which are consistent with the Plan. 
 20.
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. 
 21. Conditions Upon Issuance of Shares. Shares shall not be issued with respect to an option
unless the exercise of such option and the issuance and delivery of such shares pursuant thereto shall comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the
Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such
compliance. As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any
present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned applicable provisions of law. 

22. Term of Plan; Effective Date. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval by the
shareholders of the Company. It shall continue in effect for a term of twenty (20) years unless sooner terminated under Section 19. 
 23.
Additional Restrictions of Rule 16b-3. The terms and conditions of options granted hereunder to, and the purchase of shares by, persons subject to Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3.
This Plan shall be deemed to contain, and such options shall contain, and the shares issued upon exercise thereof shall be subject to, such additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption
from Section 16 of the Exchange Act with respect to Plan transactions. 

 24. Not a Contract of Employment. The adoption and maintenance of the Plan shall not be deemed to be a
contract between the Company or any Designated Subsidiaries and any person or to be consideration for the employment of any person. Participation in the Plan at any given time shall not be deemed to create the right to participate in the Plan, or
any other arrangement permitting an employee of the Company or any Designated Subsidiaries to purchase Common Stock at a discount, in the future. The rights and obligations under any participant’s terms of employment with the Company or any of
the Designated Subsidiaries shall not be affected by participation in the Plan. Nothing herein contained shall be deemed to give any person the right to be retained in the employ of the Company or any of the Designated Subsidiaries or to restrict
the right of the Company or any of the Designated Subsidiaries to discharge any person at any time, nor shall the Plan be deemed to give the Company or any of the Designated Subsidiaries the right to require any person to remain in the employ of the
Company or any of the Designated Subsidiaries or to restrict any person’s right to terminate his employment at any time. The Plan shall not afford any participant any additional right to compensation as a result of the termination of such
participant’s employment for any reason whatsoever. 
 25. Equal Rights and Privileges. All eligible employees shall have equal rights and
privileges with respect to the Plan so that the Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code and the related Treasury regulations. Any provision of the Plan which is inconsistent
with Section 423 of the Code shall without further act or amendment by the Company or the Board be reformed to comply with the requirements of Section 423. This Section shall take precedence over all other provisions of the Plan.

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