Document:

EX-4.5

 Exhibit 4.5 

Univar Solutions Inc. 

2020 Omnibus Incentive Plan 

 Contents 
  

 
  

									
	 Article 1.
	 	 	 	 Establishment, Purpose and Duration
	  	 	2	 
	 Article 2.
	 		 	 Definitions
	  	 	2	 
	 Article 3.
	 		 	 Administration
	  	 	7	 
	 Article 4.
	 		 	 Shares Subject to The Plan and Minimum Vesting Standards
	  	 	9	 
	 Article 5.
	 		 	 Eligibility and Participation
	  	 	10	 
	 Article 6.
	 		 	 Stock Options
	  	 	11	 
	 Article 7.
	 		 	 Stock Appreciation Rights
	  	 	12	 
	 Article 8.
	 		 	 Restricted Stock
	  	 	13	 
	 Article 9.
	 		 	 Restricted Stock Units
	  	 	14	 
	 Article 10.
	 		 	 Performance Share Units
	  	 	14	 
	 Article 11.
	 		 	 Performance Units
	  	 	15	 
	 Article 12.
	 		 	 Other Stock-Based Awards, Cash-Based Awards and Sale of Shares
	  	 	15	 
	 Article 13.
	 		 	 Forfeiture and Recoupment of Awards
	  	 	16	 
	 Article 14.
	 		 	 Transferability of Awards and Shares
	  	 	18	 
	 Article 15.
	 		 	 Non-employee Director Awards
	  	 	18	 
	 Article 16.
	 		 	 Effect of a Change in Control
	  	 	19	 
	 Article 17.
	 		 	 Dividends and Dividend Equivalents
	  	 	20	 
	 Article 18.
	 		 	 Beneficiary Designation
	  	 	21	 
	 Article 19.
	 		 	 Rights of Participants
	  	 	21	 
	 Article 20.
	 		 	 Amendment and Termination
	  	 	21	 
	 Article 21.
	 		 	 General Provisions
	  	 	22	 

  
 1 

 Univar Solutions Inc. 

2020 Omnibus Incentive Plan 
 Article 1.
Establishment, Purpose and Duration 
 1.1 Establishment. Univar Solutions Inc., a Delaware corporation, establishes an
incentive compensation plan to be known as the Univar Solutions Inc. 2020 Omnibus Incentive Plan (the “Plan”), as set forth in this document. The Plan permits the grant of various forms of equity- and cash-based awards. The Plan shall
become effective upon shareholder approval (the “Effective Date”) and shall remain in effect as provided in Section 1.4. The Plan and each Award granted hereunder are conditioned on and shall be of no force or effect until the Plan is
approved by the shareholders of the Company. 
 1.2 Replacement of Prior Plan. The Plan is intended to replace and succeed the
Univar Solutions Inc. 2017 Omnibus Equity Incentive Plan, as amended (the “Prior Plan”), and, from and after the Effective Date, no further awards shall be made under the Prior Plan. For the avoidance of doubt, the adoption of this Plan
will have no effect on the terms and conditions of outstanding awards under the Prior Plan. 
 1.3 Purpose of the Plan. The
purpose of the Plan is to foster and promote the long-term financial success of the Company by (a) motivating superior performance by means of performance-related incentives, (b) encouraging and providing for the acquisition of an
ownership interest in the Company by Participants, and (c) enabling the Company to attract and retain qualified and competent persons as employees of the Company and to serve as members of the Board whose judgment, interest and performance are
required for the successful operations of the Company. 
 1.4 Duration of the Plan. Unless sooner terminated as provided
herein, the Plan shall terminate ten (10) years from the Effective Date. After the Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and
the Plan’s terms and conditions. 
 Article 2. Definitions 

Whenever used in the Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall
be capitalized. 
 2.1 “Affiliate” means any entity that, directly or indirectly, controls, is controlled by, or is
under common control with, the Company, where control shall have the meaning given such term under Rule 405 of the Securities Act. 

2.2 “Award” means a grant under the Plan of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units, Performance Share Units, Performance Units, Cash-Based Awards or Other Stock-Based Awards, in each case subject to the terms of the Plan. 

2.3 “Award Agreement” means a written or electronic agreement entered into by the Company and a Participant, or a
written or electronic statement issued by the Company to a Participant, which in either case contains (either expressly or by reference to this Plan or any subplan created hereunder) the terms and provisions applicable to an Award granted under the
Plan, including any amendment or modification thereof. The Committee may provide for the use of electronic, Internet or other non-paper Award Agreements, and the use of electronic, Internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant. 
 2.4
“Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act and the terms “Beneficial Ownership”
and “Beneficially Own” shall have the corresponding meanings. 
 2.5 “Board” means the Board of Directors
of the Company. 

  
 2 

 2.6 “Cash-Based Award” means an Award, denominated in cash, granted
to a Participant as described in Article 12. 
 2.7 “Cause” shall mean, unless otherwise provided in an Award
Agreement or in a Participant’s effective employment, severance, consulting or other services agreement with the Company or any Subsidiary that employs such Participant, any of the following: 

(a) the Participant’s willful and continued failure to perform his or her material duties with respect to the Company or its Subsidiaries
(except where due to a physical or mental incapacity), which continues beyond ten (10) business days after a written demand for substantial performance is delivered to the Participant by the Company or a Subsidiary; 

(b) the Participant’s failure to comply with a policy or practice of the Company or its Subsidiaries; the Participant’s failure to
comply with any laws, regulations or ordinances related to the Participant’s employment with or duties for the Company or its Subsidiaries; 

(c) the Participant’s conviction of or plea of nolo contendere to (i) the commission of a felony, or (ii) any misdemeanor that
is a crime of moral turpitude; (e) willful and gross misconduct by the Participant in connection with his duties as an employee of the Company or its Subsidiaries; or 

(d) the Participant’s breach of any Award Agreement, employment agreement, or non-competition, non-solicitation or confidentiality obligations owed by the Participant to the Company or its Subsidiaries. 
 For
purposes of this definition, no act or omission on the part of the Participant shall be deemed “willful” if done, or omitted to be done, by the Participant in good faith and in the reasonable belief that such action or omission was in the
best interest of the Company or its Subsidiaries, and no failure of the Participant or the Company or its Subsidiaries to achieve performance goals, in and of itself, shall be treated as a basis for the termination of a Participant’s employment
by the Company or its Subsidiaries for “Cause.” A termination for Cause shall be deemed to include a determination by the Committee following a Participant’s termination of employment that circumstances existing prior to such
termination would have entitled the Company or a Subsidiary to have terminated such Participant’s employment for Cause. 
 2.8
“Change in Control” means, except as may otherwise be provided in an Award Agreement, the occurrence of any one of the following events: 

(a) An acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
“Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the combined voting power of the then outstanding voting securities of the
Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, the following: (1) any acquisition directly from the Company, other than an acquisition by virtue of
the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by the Company or any entity controlled by the Company or (4) any acquisition pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (c) of this Section 2.8; or 

(b) A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board being
hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(b), that any individual who becomes a member of the Board
subsequent to the Effective Date, whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the
Incumbent Board (or deemed to be such pursuant to this provision) shall be considered as though such individual were a member of the Incumbent Board; but, provided further, that any such individual whose initial assumption of office occurs as a
result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; or 

  
 3 

 (c) Consummation of a reorganization, merger or consolidation or sale or other disposition
of all or substantially all of the assets of the Company (“Corporate Transaction”); excluding, however, such a Corporate Transaction pursuant to which (1) all or substantially all of the individuals and entities who are the beneficial
owners, respectively, of the outstanding shares of common stock of the Company and Outstanding Company Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 50% of, respectively,
the outstanding shares of common stock, and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction
(including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions
as their ownership, immediately prior to such Corporate Transaction, of the outstanding shares of common stock of the Company and Outstanding Company Voting Securities, as the case may be, (2) no Person (other than the Company, any employee
benefit plan (or related trust) of the Company or such corporation resulting from such Corporate Transaction) will beneficially own, directly or indirectly, 40% or more of, respectively, the outstanding shares of common stock of the corporation
resulting from such Corporate Transaction or the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors except to the extent that such ownership existed prior to the
Corporate Transaction, and (3) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction. 

Notwithstanding any of the foregoing, however, in any circumstance or transaction in which compensation resulting from or in respect of an Award would result
in the imposition of an additional tax under Code Section 409A if the foregoing definition of “Change in Control” were to apply, but would not result in the imposition of any additional tax if the term “Change in Control”
were defined herein to mean a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5), then “Change in Control” shall mean a “change in control
event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5), but only to the extent necessary to prevent such compensation from becoming subject to an additional tax under Code
Section 409A. 
 2.9 “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. For
purposes of the Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

2.10 “Commission” means the Securities and Exchange Commission. 

2.11 “Committee” means the Compensation Committee of the Board or a subcommittee thereof or any other committee
designated by the Board to administer the Plan. The members of the Committee shall be appointed from time to time by and shall serve at the discretion of the Board. If the Committee does not exist or cannot function for any reason, the Board may
take any action under the Plan that would otherwise be the responsibility of the Committee. Each member of the Committee shall be (i) an independent director within the meaning of the rules and regulations of the Nasdaq (or such other national
securities exchange which is the principal market on which the Shares are then traded) and (ii) a non-employee director within the meaning of Exchange Act Rule
16b-3. 
 2.12 “Company” means Univar Solutions Inc. and any successor
thereto as provided in Section 21.20. 
 2.13 “Competitive Activity” means a Participant’s material breach
of restrictive covenants relating to non-competition, non-solicitation (of customers or employees) or preservation of confidential information, or other covenants having
the same or similar scope, included in an Award Agreement or other agreement to which the Participant and the Company or any of its Subsidiaries is a party. 

2.14 “Director” means any individual who is a member of the Board. 

  
 4 

 2.15 “Disability” means (x) for Awards that are not subject to
Section 409A of the Code, “disability” as such term is defined in the long-term disability insurance plan or program of the Company or any Subsidiary then covering the Participant or, in the absence of such a plan or program, as
determined by the Committee and (y) for Awards that are subject to Section 409A of the Code, “disability” shall have the meaning set forth in Section 409A(a)(2)(c) of the Code; provided that with respect to Awards that are
not subject to Section 409A, (A) in the case of any Participant who, as of the date of determination, is a party to an effective employment, severance, consulting or other services agreement with the Company or any Subsidiary that employs
such Participant, “Disability” shall have the meaning, if any, specified in such agreement and (B) the Committee’s reasoned and good faith judgment of Disability shall be final and shall be based on such competent medical
evidence as shall be presented to it by the Participant or by any physician or group of physicians or other competent medical expert employed by the Participant or the Company to advise the Committee. 

2.16 “Dividend Equivalent” has the meaning set forth in Section 17.2. 

2.17 “Effective Date” has the meaning set forth in Section 1.1. 

2.18 “Employee” means any individual performing services for the Company, an Affiliate or a Subsidiary and designated
as an employee of the Company, an Affiliate or the Subsidiary on its payroll records. An Employee shall not include any individual during any period he or she is classified or treated by the Company, Affiliate or Subsidiary as an independent
contractor, a consultant or an employee of an employment, consulting or temporary agency or any other entity other than the Company, Affiliate or Subsidiary, without regard to whether such individual is subsequently determined to have been, or is
subsequently retroactively reclassified, as a common-law employee of the Company, Affiliate or Subsidiary during such period. An individual shall not cease to be an Employee in the case of (i) any leave
of absence approved by the Company or (ii) transfers between locations of the Company or among the Company, or any Affiliate or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon
expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three months following the 91st day of such leave, any Incentive Stock Option
held by a Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient
to constitute “employment” by the Company. 
 2.19 “Exchange Act” means the Securities Exchange Act of
1934. 
 2.20 “Exercise Price” means the price at which a Share may be purchased by a Participant pursuant to an
Option. 
 2.21 “Fair Market Value” means, as applied to a specific date and unless otherwise specified in an Award
Agreement, the closing price of a Share as reported on the primary national securities exchange on which the shares are listed on such specified date, or if no sales of Shares shall have occurred on such specified date, the closing price of the
Shares on such exchange on the next preceding date on which there were such sales. Notwithstanding the foregoing, if Shares are not traded on any established stock securities exchange, the Fair Market Value means the price of a Share as established
by the Committee acting in good faith based on a reasonable valuation method that is consistent with the requirements of Code Section 409A and the regulations thereunder. 

2.22 “Good Reason” shall, as to any Participant, have the meaning set forth in an effective employment, severance,
consulting or other services agreement to which the Participant is a party with the Company or a Subsidiary that employs the Participant, or, in the absence of such an agreement, mean: 

(a) a material reduction in the Participant’s base salary or a material reduction in the Participant’s target annual incentive
compensation opportunity, in each case, other than (1) any isolated or inadvertent failure by the Company or the applicable Subsidiary that is not in bad faith and is cured within thirty (30) business days after the Participant gives the
Company or the applicable Subsidiary notice of such event or (2) reduction which is applicable to all employees in the same salary grade as the Participant; 

  
 5 

 (b) a material diminution in the Participant’s title, duties and responsibilities,
other than any isolated or inadvertent failure by the Company or the applicable Subsidiary that is not in bad faith and is cured within fifty (50) business days after the Participant gives the Company or the applicable Subsidiary notice of such
event; or 
 (c) a transfer of the Participant’s primary workplace by more than thirty-five (35) miles. 

2.23 “Grant Date” means the date an Award to a Participant pursuant to the Plan is approved by the Committee (or such
later date as specified in such approval by the Committee). 
 2.24 “Grant Price” means the per Share price
established at the time of grant of a SAR pursuant to Article 7. 
 2.25 “Incentive Stock Option” or
“ISO” means an Award granted pursuant to Article 6 that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422 or any successor provision. 

2.26 “Non-employee Director” means a Director who is not an Employee. 

2.27 “Nonqualified Stock Option” means an Award that is not intended to meet the requirements of Code
Section 422, or that otherwise does not meet such requirements. 
 2.28 “Option” means an Award granted
pursuant to Article 6, which Award may be an Incentive Stock Option or a Nonqualified Stock Option. 
 2.29 “Other
Stock-Based Award” means an equity-based or equity-related Award not otherwise described by the terms of the Plan that is granted pursuant to Article 12. 

2.30 “Normal Retirement Age” shall have the meaning set forth in the applicable Award Agreement or, if not defined in
the Award Agreement, age 65 or older pursuant to the customary policies of the Company. 
 2.31 “Participant” means
any eligible individual as set forth in Article 5 to whom an Award is granted. 
 2.32 “Performance Goals” means the
goals established by the Committee that must be satisfied in order for a Participant to receive an Award for a Performance Period or for an Award of Performance Share Units or Performance Units to be earned or vested. At the discretion of the
Committee, Performance Goals may be based upon one or more of the following measures: GAAP or adjusted GAAP accounting measures, operational metrics, strategic goals and objectives, environmental, social and governance metrics and individual goals.

 2.33 “Performance Period” means the period of time during which
pre-established performance goals must be met in order to determine the degree of payout and/or vesting with respect to an Award. 

2.34 “Performance Share Unit” means an Award granted pursuant to Article 10. 

2.35 “Performance Unit” means an Award granted pursuant to Article 11. 

2.36 “Period of Restriction” means the period when Restricted Stock or Restricted Stock Units are subject to a vesting
requirement (based on the continued service, the achievement of Performance Goals or upon the occurrence of other events as determined by the Committee, in its discretion) as provided in Articles 8 and 9. 

2.37 “Restricted Stock” means an Award granted pursuant to Article 8. 

2.38 “Restricted Stock Unit” means an award granted under Article 9. 

2.39 “Share” means a share of common stock, par value $0.01 per share, of the Company. 

2.40 “Stock Appreciation Right” or “SAR” means an Award granted under Article 7. 

  
 6 

 2.41 “Subscription Agreement” means any written agreement, contract
or other instrument or document, including through an electronic medium, required by the Company to be entered into between the Company and the Participant upon the issuance of Shares of Company common stock subject to an Award, which establishes
the rights and obligations of each of them relating to the Shares so issued to the Participant; it being understood that the Committee may determine that no Subscription Agreement is required in all or individual cases. 

2.42 “Subsidiary” means any corporation or other entity, whether domestic or foreign, in which the Company has or
obtains, directly or indirectly, ownership of more than 50% of the total combined voting power of all classes of stock. 
 2.43
“Substitute Award” means an Award granted upon the assumption of, or in substitution or exchange for, outstanding awards granted by a company or other entity acquired by the Company, Subsidiary or any Affiliate or with which the
Company, Subsidiary or any Affiliate combines. 
 2.44 “Termination of Service” means the following: 

(a) for an Employee, the date on which the Employee is no longer an Employee; 

(b) for a Non-Employee Director, the date on which the
Non-Employee Director is no longer a member of the Board; and 
 (c) for a Third-Party Service
Provider, the date on which such individual no longer provides substantial services on a regular basis to the Company. 
 With respect to any payment of an
Award subject to Code Section 409A, a Termination of Service shall mean a “separation from service” within the meaning of Code Section 409A. 

2.45 “Third-Party Service Provider” means any consultant, agent, advisor or independent contractor who renders bona
fide services to the Company, Subsidiary or any Affiliate that (a) are not in connection with the offer and sale of the Company’s securities in a capital raising transaction, (b) do not directly or indirectly promote or maintain a
market for the Company’s securities, and (c) are provided by a natural person who has contracted directly with the Company, its Affiliates or its Subsidiaries to render such services 

Article 3. Administration 

3.1 General. The Committee shall be responsible for administering the Plan subject to this Article 3 and the other provisions of
the Plan. The Committee may employ attorneys, consultants, accountants, agents and other individuals, any of whom may be an Employee, and the Committee, the Company, and its officers and Directors shall be entitled to rely upon the advice, opinions
or valuations of any such individuals. All expenses and liabilities incurred by the Committee in connection with the administration of the Plan shall be borne by the Company. All actions taken and all interpretations and determinations made by the
Committee shall be final and binding upon the Participants, the Company, Subsidiaries, Affiliates, and all other parties. The Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among
persons who receive, or are eligible to receive, Awards under the Plan, whether or not such persons are similarly situated. Any action of the Committee shall be valid and effective even if the members of the Committee at the time of such action are
later determined not to have satisfied all of the criteria for membership in clauses (i) and (ii) of Section 2.11. 
 3.2
Authority of the Committee. Subject to any express limitations set forth in the Plan, the Committee shall have full and exclusive discretionary power and authority to take such actions as it deems necessary and advisable with respect to the
administration of the Plan including, but not limited to, the following: 
 (a) To determine from time to time which of the persons eligible
under the Plan shall be granted Awards, when and how each Award shall be granted, what type or combination of types of Awards shall be granted, the provisions of each Award granted (which need not be identical), including the time or times when a
person shall be permitted to receive Shares pursuant to an Award and the number of Shares subject to an Award or the value of an Award; 

  
 7 

 (b) To construe and interpret the Plan and Awards granted under it, and to establish, amend,
and revoke rules and regulations for its administration; 
 (c) To correct any defect, omission or inconsistency in the Plan or in an Award
Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective; 
 (d) To approve forms of
Award Agreements for use under the Plan; 
 (e) To determine Fair Market Value of a Share; 

(f) To amend any Award Agreement as permitted under the Plan; 

(g) To adopt sub-plans and/or special provisions applicable to stock awards regulated by the laws of a
jurisdiction other than and outside of the United States, to Cash-Based Awards, or to awards to Directors. Such sub-plans and/or special provisions shall be subject to and consistent with the terms of the Plan
and in accordance with Section 5.4, except to the extent the Committee determines that different terms and conditions are necessary or desirable to comply with the laws of a jurisdiction other than and outside of the United States; 

(h) To authorize any person to execute on behalf of the Company any instrument required to affect the grant of an Award; 

(i) To determine whether Awards shall be settled in Shares, cash or in any combination thereof; 

(j) To determine whether Awards shall provide for Dividend Equivalents; 

(k) To establish a program whereby Participants designated by the Committee may reduce compensation otherwise payable in cash in exchange for
Awards under the Plan; 
 (l) To authorize a program permitting eligible Participants to surrender outstanding Awards in exchange for newly
granted Awards subject to any applicable shareholder approval requirements set forth in the Plan; 
 (m) To impose such restrictions,
conditions or limitations as it determines appropriate as to the timing and manner of any resales by a Participant or other subsequent transfers by a Participant of any Shares, including, without limitation, restrictions under an insider trading
policy and restrictions as to the use of a specified brokerage firm for such resales or other transfers; 
 (n) To waive any restrictions,
conditions or limitations imposed on an Award at the time the Award is granted or at any time thereafter; 
 (o) To permit Participants to
elect to defer payments of Awards; provided that any such deferrals shall comply with applicable requirements of the Code, including Code Section 409A; and 

(p) To extend the timing of the settlement or payment of an Award to the extent permitted under Code Section 409A and other applicable
law and rules of the exchange that is the primary trading market of the Shares. 
 3.3 Delegation. To the extent permitted by
law, the Committee may delegate to one or more of its members or to one or more officers of the Company or any Subsidiary or to one or more agents or advisors such administrative duties or powers as it may deem advisable, and the Committee or any
individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any responsibility the Committee or such individuals may have under the Plan. To the extent permitted by law, the
Committee may delegate to one or more of its members or more officers of the Company the authority, subject to the terms and conditions as the Committee shall determine, to (a) designate employees to be recipients of Awards under the Plan and
(b) determine the size of any Awards; provided that (x) the Committee shall not delegate such responsibilities for Awards granted to an employee who was an officer, Director, or ten percent (10%) beneficial owner of any class of the
Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, as determined by the Board in accordance with Section 16 of the Exchange Act; (y) the resolution providing for such authorization sets
forth the total number of Shares such officer(s) may grant; and (z) the officer(s) shall report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated. 

  
 8 

 Article 4. Shares Subject to The Plan and Minimum Vesting Standards 

4.1 Number of Shares Authorized and Available for Awards. Subject to adjustment as provided under Section 4.3, the
total number of Shares that may be the subject of Awards and issued under the Plan shall be 6,650,000. Such Shares may be authorized and unissued Shares or, to the extent permitted by applicable law, issued shares that have been reacquired by the
Company. Any of the authorized Shares may be used for any type of Award under the Plan, and any or all of the Shares may be allocated to Incentive Stock Options. Solely for the purpose of determining the number of Shares available for Awards under
this Section 4.1, the number of shares available for issuance under the Plan shall be reduced by one (1.00) Share for every one (1.00) Share granted in respect of an Award, provided however that in the case of an Award that provides for a range
of potential Share payouts the number of shares available for issuance under the Plan shall be reduced by the maximum number of Shares that may be paid under such an Award. 

4.2 Share Usage. In determining the number of Shares available for grant under the Plan at any time, the following rules shall
apply: 
 (a) Any Shares subject to an Award granted under the Plan or Prior Plan that on or after the Effective Date terminates by
expiration, forfeiture, cancellation or otherwise without the issuance of the Shares (or with the forfeiture of Shares in connection with a Restricted Stock Award), is settled in cash in lieu of Shares, or is exchanged with the Committee’s
permission, prior to the issuance of Shares, for an Award not involving Shares shall become available again for grant under the Plan. 
 (b)
Any Shares that are withheld by the Company or tendered by a Participant (by either actual delivery or attestation) on or after the Effective Date to satisfy tax withholding obligations associated with an Award (other than an Option or SAR) granted
under the Plan or Prior Plan, shall become available again for grant under the Plan. 
 (c) Any Shares that are withheld by the Company or
tendered by a Participant (by either actual delivery or attestation) on or after the Effective Date (i) to pay the Exercise Price of an Option granted under the Plan or Prior Plan or (ii) to satisfy tax withholding obligations associated
with an Option or SAR granted under the Plan or Prior Plan, shall not become available again for grant under the Plan. 
 (d) Any Shares
that were subject to a stock-settled SAR granted under the Plan or Prior Plan that were not issued upon the exercise of such SAR on or after the Effective Date shall not become available again for grant under the Plan. 

(e) Any Shares that were purchased by the Company on the open market on or after the Effective Date with the proceeds from the exercise of an
Option granted under the Plan or Prior Plan shall not become available for grant under the Plan. 
 (f) Shares subject to Substitute Awards
shall not be counted against the share reserve specified in Section 4.1. 
 4.3 Adjustments. All Awards shall be subject
to the following provisions: 
 (a) In the event of any equity restructuring (within the meaning of FASB ASC Topic 718) that causes the per
share value of Shares to change, such as a stock dividend, stock split, reverse stock split, split up, spin-off, rights offering or recapitalization through an extraordinary dividend, the Committee, in order
to prevent dilution or enlargement of Participants’ rights under the Plan, shall substitute or adjust, as applicable, (i) the number and kind of Shares or other securities that may be issued under the Plan or under particular forms of
Award Agreements, (ii) the number and kind of Shares or other securities subject to outstanding Awards, (iii) the Exercise Price or Grant Price applicable to outstanding Awards, and (iv) other value determinations applicable to
outstanding Awards. In the event of any other change in corporate capitalization (including, but not limited to, a merger, consolidation, any reorganization (whether or not such reorganization comes within the definition of such term in
Section 368 of the Code), or any partial or complete liquidation of the Company to the extent such events do not constitute equity restructurings or business combinations within the meaning of FASB ASC Topic 718, such equitable adjustments
described in the foregoing sentence may be made as determined to be appropriate and equitable by the Committee to prevent dilution or enlargement of rights. In either case, any such adjustment shall be conclusive and binding for all purposes of the
Plan. Unless otherwise determined by the Committee, the number of Shares subject to an Award shall always be a whole number. 

  
 9 

 (b) In addition to the adjustments permitted under paragraph (a) above, the Committee,
in its sole discretion, may make such other adjustments or modifications in the terms of any Awards that it deems appropriate to reflect any of the events described in Section 4.3(a), including, but not limited to, (i) modifications of
performance goals and changes in the length of Performance Periods, or (ii) the substitution of other property of equivalent value (including, without limitation, cash, other securities and securities of entities other than the Company that
agree to such substitution) for the Shares available under the Plan or the Shares covered by outstanding Awards, including arranging for the assumption, or replacement with new awards, of Awards held by Participants and (iii) in connection with
any sale of a Subsidiary, arranging for the assumption, or replacement with new awards, of Awards held by Participants employed by the affected Subsidiary by the Subsidiary or an entity that controls the Subsidiary following the sale of such
Subsidiary. 
 (c) The determination of the Committee as to the foregoing adjustments set forth in this Section 4.3, if any, shall be
made in accordance with Code Sections 409A or 424, to the extent applicable, and shall conclusive and binding on Participants under the Plan. 

4.4 Effect of Plans Operated by Acquired Companies. If a company acquired by the Company or any Subsidiary or any Affiliate or
with which the Company or any Subsidiary or any Affiliate combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such acquisition or combination,
the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such
acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant
under the Plan. Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and
shall only be made to individuals who were not Employees or Non-Employee Directors prior to such acquisition or combination. 

4.5 Minimum Vesting Standards. Any Award and all portions of an Award granted under this Plan shall be subject to a minimum
vesting period of at least one year. Notwithstanding the immediately preceding sentence, (i) the Committee may permit and authorize acceleration of vesting of Awards to the extent permitted under the Plan, and (ii) the Committee may grant
Awards covering up to five percent (5%) of the total number of Shares authorized under this Plan without respect to the minimum vesting standards set forth in this Section 4.5. 

Article 5. Eligibility and Participation 

5.1 Eligibility to Receive Awards. Individuals eligible to participate in the Plan shall be limited to Employees, Non-employee Directors and Third-Party Service Providers of the Company and its Subsidiaries. 

5.2 Participation in the Plan. Subject to the provisions of the Plan, the Committee may, from time to time, select from all
individuals eligible to participate in the Plan, those individuals to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms permissible by law and the amount of each Award. 

5.3 Award Agreements. The Committee shall have the exclusive authority to determine the terms of an Award Agreement evidencing
an Award granted under the Plan, subject to the provisions herein. The terms of an Award Agreement need not be uniform among all Participants or among similar types of Awards. 

5.4 Participants Based Outside the United States. To conform with the provisions of local laws and regulations, or with local
compensation practices and policies in foreign countries in which the Company or any of its Subsidiaries or Affiliates operate, the Committee may (i) modify the terms and conditions of Awards granted to Participants employed outside the United
States (“Non-U.S. Awards”), (ii) establish subplans with such modifications as may be necessary or advisable under the circumstances and (iii) take any action which it deems advisable to obtain,
comply with or otherwise reflect any necessary 

  
 10 

 
governmental regulatory procedures, exemptions or approvals with respect to the Plan. The Committee’s decision to grant Non-U.S. Awards or to
establish subplans is entirely voluntary, and at the complete discretion of the Committee. The Committee may amend, modify or terminate any subplans at any time, and such amendment, modification or termination may be made without prior notice to the
Participants. The Company, its Subsidiaries and Affiliates and members of the Committee shall not incur any liability of any kind to any Participant as a result of any change, amendment or termination of any subplan at any time. The benefits and
rights provided under any subplan or by any Non-U.S. Award (x) are wholly discretionary and, although provided by either the Company, a Subsidiary or Affiliate, do not constitute regular or periodic
payments and (y) except as otherwise required under applicable laws, are not to be considered part of the Participant’s salary or compensation under the Participant’s employment with the Participant’s local employer for purposes
of calculating any severance, resignation, redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind. If a subplan
is terminated, the Committee may direct the payment of Non-U.S. Awards (or direct the deferral of payments whose amount shall be determined) prior to the dates on which payments would otherwise have been made,
and, in the Committee’s discretion, such payments may be made in a lump sum or in installments. 
 Article 6. Stock Options 

6.1 Grant of Options. Options may be granted to Participants covering such number of Shares, and upon such terms, and
at any time and from time to time as shall be determined by the Committee. Each grant of an Option shall be evidenced by an Award Agreement, which shall specify whether the Option is in the form of a Nonqualified Stock Option or an Incentive
Stock Option. 
 6.2 Exercise Price. The Exercise Price for each Option shall be determined by the Committee and shall be
specified in the Award Agreement evidencing such Option; provided, however, the Exercise Price must be at least equal to 100% of the Fair Market Value of a Share as of the Option’s Grant Date, except in the case of Substitute Awards (to the
extent consistent with Code Section 409A and, in the case of Incentive Stock Options, Code Section 424), and subject to adjustment as provided for under Section 4.3. 

6.3 Term of Option. The term of an Option granted to a Participant shall be determined by the Committee; provided, however, no
Option shall be exercisable later than the tenth anniversary of its Grant Date. 
 6.4 Exercise of Option. An Option shall be
exercisable at such times and be subject to such restrictions and vesting conditions as the Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant. 

6.5 Exercise of Option by the Committee. If Participant has not exercised an Option immediately prior to the expiration of such
Option and the Fair Market Value on the date of expiration exceeds the Exercise Price of such Option, the Committee may, in its sole discretion, exercise the Option on behalf of the Participant by causing the exercise price to be paid through a
broker-assisted cashless exercise program established by the Company. For the avoidance of doubt, the Committee will not be required to obtain the Participant’s consent prior to such exercise, and the Committee’s exercise of discretion
under this Section 6.5 need not be uniform among Participants, whether or not such persons are similarly situated. 
 6.6
Payment of Exercise Price. An Option shall be exercised by the delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Committee, or by complying with any alternative
procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. Any Shares issued upon exercise of an Option are subject to
Section 14.3. A condition of the issuance of the Shares as to which an Option shall be exercised shall be the payment of the Exercise Price and the payment of applicable withholding taxes. The Exercise Price of any exercised Option shall be
payable to the Company in accordance with one of the following methods to the extent permitted under a Participant’s applicable Award Agreement as determined by the Committee in its discretion on the date of grant: 

(a) In cash or its equivalent, 

  
 11 

 (b) By tendering (either by actual delivery or by attestation) previously acquired Shares
having an aggregate Fair Market Value at the time of exercise equal to the Exercise Price, 
 (c) By a cashless (broker-assisted) exercise,

 (d) By authorizing the Company to withhold Shares otherwise issuable upon the exercise of the Option having an aggregate Fair Market
Value at the time of exercise equal to the Exercise Price, 
 (e) By any combination of (a), (b), (c) or (d), or 

(f) By any other method approved or accepted by the Committee. 

Unless otherwise determined by the Committee, all payments under all of the methods indicated above shall be paid in United States dollars or Shares, as
applicable. 
 6.7 Special Rules Regarding ISOs. Notwithstanding any provision of the Plan to the contrary, an Option granted
in the form of an ISO to a Participant shall be subject to the following rules: 
 (a) An Option shall constitute an Incentive Stock Option
only if the Participant receiving the Option is an Employee and only if the Employee is employed by the Company, or a parent corporation or Subsidiary corporation within the meaning of Code Section 424, and only to the extent that (i) it
is so designated in the applicable Award Agreement and (ii) the aggregate Fair Market Value (determined as of the Option’s Grant Date) of the Shares with respect to which Incentive Stock Options held by the Participant first become
exercisable in any calendar year (under the Plan and all other plans of the Company and its Affiliates) does not exceed $100,000. To the extent an Option granted to a Participant exceeds this limit, the Option shall be treated as a Nonqualified
Stock Option. 
 (b) No Participant may receive an Incentive Stock Option under the Plan if, immediately after the grant of such Award, the
Participant would own (after application of the rules contained in Code Section 424(d)) Shares possessing more than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, unless (i) the exercise
price for that Incentive Stock Option is at least 110% of the Fair Market Value of the Shares subject to that Incentive Stock Option on the Grant Date and (ii) that Option shall expire no later than five years after its Grant Date. 

(c) For purposes of continued service by a Participant who has been granted an Incentive Stock Option, no approved leave of absence may exceed
three months unless reemployment upon expiration of such leave is provided by statute or contract. If reemployment is not so provided, then on the date six months following the first day of such leave, any Incentive Stock Option held by the
Participant shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonqualified Stock Option. 

(d) If an Incentive Stock Option is exercised after the expiration of the exercise periods that apply for purposes of Code Section 422,
such Option shall thereafter be treated as a Nonqualified Stock Option. 
 (e) Each Participant awarded an Incentive Stock Option shall
notify the Company in writing immediately after the date he or she makes a disqualifying disposition of any Shares acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including any sale)
of such Shares before the later of (i) two years after the Grant Date of the Incentive Stock Option or (ii) one year after the date of exercise of the Incentive Stock Option. 

Article 7. Stock Appreciation Rights 

7.1 Grant of SARs. SARs may be granted to Participants in such number, and upon such terms, and at any time and from time to
time as shall be determined by the Committee. Each grant of SARs shall be evidenced by an Award Agreement. 
 7.2 Grant Price.
The Grant Price for each grant of an SAR shall be determined by the Committee and shall be specified in the Award Agreement evidencing the SAR; provided, however, the Grant Price must be at least equal to 100% of the Fair Market Value of a Share
as of the Grant Date, except in the case of Substitute Awards (to the extent consistent with Code Section 409A), and subject to adjustment as provided for under Section 4.3. 

  
 12 

 7.3 Term of SAR. The term of an SAR granted to a Participant shall be
determined by the Committee; provided, however, no SAR shall be exercisable later than the tenth anniversary of its Grant Date. 

7.4 Exercise of SAR. An SAR shall be exercisable at such times and be subject to such restrictions and vesting conditions as the
Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant. 

7.5 Notice of Exercise. An SAR shall be exercised by the delivery of a notice of exercise to the Company or an agent designated
by the Company in a form specified or accepted by the Committee, or by complying with any alternative procedures that may be authorized by the Committee, setting forth the number of Shares with respect to which the SAR is to be exercised. 

7.6 Settlement of SARs. Upon the exercise of an SAR, pursuant to a notice of exercise properly completed and submitted to the
Company in accordance with Section 7.5, a Participant shall be entitled to receive payment from the Company in an amount equal to the product of (a) and (b) below: 

(a) The excess of the Fair Market Value of a Share on the date of exercise over the Grant Price. 

(b) The number of Shares with respect to which the SAR is exercised. 

Payment shall be made in cash, Shares or a combination thereof as provided for under the applicable Award Agreement. 

7.7 Exercise of SAR by the Committee. If a Participant has not exercised an SAR immediately prior to the expiration of such SAR
and the Fair Market Value on the date of expiration exceeds the Grant Price of such SAR, the Committee may, in its sole discretion, exercise the SAR on behalf of the Participant and upon such election the Participation shall be entitled to receive
payment from the Company in an amount and form determined under Section 7.6. For the avoidance of doubt, the Committee will not be required to obtain the Participant’s consent prior to such exercise, and the Committee’s exercise of
discretion under this Section 7.7 need not be uniform among Participants, whether or not such persons are similarly situated. 

Article 8. Restricted Stock 

8.1 Grant of Restricted Stock. Restricted Stock Awards may be granted to Participants in such number of Shares, and upon such
terms, and at any time and from time to time as shall be determined by the Committee. Each grant of Restricted Stock shall be evidenced by an Award Agreement. 

8.2 Nature of Restrictions. Each grant of Restricted Stock may be subject to a requirement that a Participant pay a stipulated
purchase price for each Share of Restricted Stock, and shall be subject to a Period of Restriction that shall lapse upon the satisfaction of such vesting conditions as are determined by the Committee and set forth in an applicable Award Agreement.
Such conditions or restrictions may include, without limitation, one or more of the following: 
 (a) that the Shares of Restricted Stock
may not be transferred in any fashion prior to their applicable vesting date or 
 (b) that the Shares of Restricted Stock may vest only
upon completion of a specified period of continuous employment or other service and/or to the degree that specific Performance Goals have been achieved. 

8.3 Delivery of Shares. Unvested Shares subject to a Restricted Stock Award shall be evidenced by a book-entry in the name of
the Participant with the Company’s transfer agent or by one or more stock certificates issued in the name of the Participant. Any such stock certificate shall be deposited with the Company or its designee, together with an assignment separate
from the certificate, in blank, signed by the Participant, and bear an appropriate legend referring to the restricted 

  
 13 

 
nature of the Restricted Stock evidenced thereby. Any book-entry shall be subject to comparable restrictions and corresponding stop transfer instructions. Upon the vesting of Shares of Restricted
Stock, and the Company’s determination that any necessary conditions precedent to the release of vested Shares (such as satisfaction of tax withholding obligations and compliance with applicable legal requirements) have been satisfied, such
vested Shares shall be made available to the Participant in such manner as may be prescribed or permitted by the Committee. 
 8.4
Voting Rights. As set forth in a Participant’s applicable Award Agreement, the Committee shall determine the extent to which a Participant holding Shares of Restricted Stock shall be granted the right to exercise full voting rights with
respect to those Shares. 
 8.5 Section 83(b) Election. No election under Section 83(b) of the Code (to include in gross
income in the year of transfer the amounts specified in Code Section 83(b)) or under a similar provision of the laws of a jurisdiction outside the United States may be made unless expressly permitted by the terms of the Award document or by
action of the Committee in writing prior to the making of such election. In any case in which a Participant is permitted to make such an election in connection with an Award, the Participant shall notify the Company of such election within ten
(10) days of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to regulations issued under Code Section 83(b) or other applicable
provision. 
 Article 9. Restricted Stock Units 

9.1 Grant of Restricted Stock Units. Restricted Stock Units may be granted to Participants in such number, and upon such terms,
and at any time and from time to time as shall be determined by the Committee. A grant of Restricted Stock Units shall not represent the grant of Shares but shall represent a promise to deliver a corresponding number of Shares or the value of such
number of Shares based upon the completion of service, performance conditions, or such other terms and conditions as specified in the applicable Award Agreement over the Period of Restriction. Each grant of Restricted Stock Units shall be evidenced
by an Award Agreement. 
 9.2 Nature of Restrictions. Each grant of Restricted Stock Units may be subject to a requirement
that a Participant pay a stipulated purchase price for each Share earned under such grant, and shall be subject to a Period of Restriction that shall lapse upon the satisfaction of such vesting conditions as are determined by the Committee and set
forth in an applicable Award Agreement. Such conditions or restrictions may include, without limitation, one or more of the following: 

(a) that the Restricted Stock Units may not be transferred in any fashion, or 

(b) that the Restricted Stock Units may vest only upon completion of a specified period of continuous employment or other service and/or to
the degree that specific Performance Goals have been achieved. 
 9.3 Voting Rights. A Participant shall have no voting rights
with respect to any Restricted Stock Units granted hereunder or the Shares subject to any Restricted Stock Units granted hereunder prior to the issuance of the Shares. 

9.4 Settlement and Payment of Restricted Stock Units. Unless otherwise elected by the Participant as permitted under the Award
Agreement, or otherwise provided for in the Award Agreement, Restricted Stock Units shall be settled upon the date such Restricted Stock Units vest. Such settlement shall be made in Shares, cash or a combination thereof as provided for under the
applicable Award Agreement. 
 Article 10. Performance Share Units 

10.1 Grant of Performance Share Units. Performance Share Units may be granted to Participants in such number, and upon such
terms and at any time and from time to time as shall be determined by the Committee. Each grant of Performance Share Units shall be evidenced by an Award Agreement. 

10.2 Value of Performance Share Units. Each Performance Share Unit shall have a value equal to the Fair Market Value of a Share
on the Grant Date. The Committee shall set Performance Goals that, depending on the extent to which they are met over the specified Performance Period and the satisfaction of applicable service-based vesting conditions, shall determine the number of
Performance Share Units that shall vest, which may be greater than the target number of Performance Share Units granted, and be paid to a Participant. 

  
 14 

 10.3 Earning of Performance Share Units. After the applicable Performance
Period has ended, the number of Performance Share Units earned by the Participant over the Performance Period shall be determined as a function of the extent to which the applicable corresponding Performance Goals have been achieved. This
determination shall be made by the Committee. 
 10.4 Form and Timing of Payment of Performance Share Units. The Company shall
pay at the close of the applicable Performance Period, or as soon as practicable thereafter, any earned Performance Share Units in the form of Shares, cash or a combination thereof as provided for under the applicable Award Agreement. 

Article 11. Performance Units 

11.1 Grant of Performance Units. Subject to the terms and provisions of the Plan, Performance Units may be granted to a
Participant in such number, and upon such terms and at any time and from time to time as shall be determined by the Committee. Each grant of Performance Units shall be evidenced by an Award Agreement. 

11.2 Value of Performance Units. Each Performance Unit shall have an initial notional value equal to a dollar amount determined
by the Committee. The Committee shall set Performance Goals in its discretion that, depending on the extent to which they are met over the specified Performance Period and the satisfaction of applicable service-based vesting conditions, shall
determine the number of Performance Units that shall vest, the settlement value of each Performance Unit (if variable), and the settlement amount to be paid to the Participant. 

11.3 Earning of Performance Units. After the applicable Performance Period has ended, the number of Performance Units earned by
the Participant over the Performance Period shall be determined as a function of the extent to which the applicable corresponding performance goals have been achieved. This determination shall be made by the Committee. 

11.4 Form and Timing of Payment of Performance Units. The Company shall pay at the close of the applicable Performance Period,
or as soon as practicable thereafter, any earned Performance Units in the form of cash, Shares or a combination thereof, as provided for under the applicable Award Agreement. 

Article 12. Other Stock-Based Awards, Cash-Based Awards and Sale of Shares 

12.1 Grant of Other Stock-Based Awards and Cash-Based Awards. 

(a) The Committee may grant Other Stock-Based Awards not otherwise described by the terms of the Plan to a Participant in such amounts and
subject to such terms and conditions, as the Committee shall determine. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares. 

(b) The Committee may grant Cash-Based Awards not otherwise described by the terms of the Plan to a Participant in such amounts and upon such
terms as the Committee shall determine. 
 (c) Each grant of Other Stock-Based Awards and Cash-Based Awards shall be evidenced by an Award
Agreement and/or subject to a subplan or special provisions approved by the Committee. 
 12.2 Value of Other Stock-Based Awards and
Cash-Based Awards. 
 (a) Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by
the Committee. 
 (b) Each Cash-Based Award shall specify a payment amount or payment range as determined by the Committee. If the Committee
exercises its discretion to establish performance goals, the value of Cash-Based Awards that shall be paid to the Participant will depend on the extent to which such performance goals are met and any service-based payment conditions are satisfied.

  
 15 

 12.3 Payment of Other Stock-Based Awards and Cash-Based Awards. Payment, if
any, with respect to Cash-Based Awards and Other Stock-Based Awards shall be made in accordance with the terms of the applicable Award Agreement in the form of cash, Shares or other forms of Awards under the Plan or a combination of cash, Shares and
other forms of Awards. The determination of the form in which Awards subject to this Article 12 will be paid shall be made by the Committee, unless the Committee chooses to provide in an applicable Award Agreement that a Participant may elect, in
accordance with such procedures and limitations as the Committee may specify, the form in which such an Award will be paid. To the extent any Award subject to this Article 12 is to be paid in other forms of Awards under the Plan, such Awards issued
in payment shall be valued for purposes of such payment at their grant date fair value. If the Committee permits a Participant to elect to receive some or all of an amount that would otherwise be payable in cash under an Award subject to this
Article 12 in Shares or other forms of Awards, the Committee may also provide in the applicable Award Agreement that the Fair Market Value of the Shares or the grant date fair value of the other forms of Awards may exceed the amount of cash that
otherwise would have been payable. 
 12.4 Sale of Shares to Service Providers. The Committee, acting in its sole discretion,
may from time to time designate one or more Participants to whom an offer to sell Shares shall be made and the terms and conditions thereof, provided, however, that the price per Share shall not be less than the Fair Market Value of such Shares on
the date any such offer is accepted. Each Share sold to a Participant under this Section 12.4 shall be evidenced by a Subscription Agreement in a form approved by the Committee, which shall contain terms consistent with the terms hereof. Any
Shares sold under this Section 12.4 shall be subject to the same limitations, restrictions and administration hereunder as would apply to any Shares issued pursuant to the exercise of an Option under this Plan including, without limitation,
conditions and restrictions set forth in Section 14.2. Unless otherwise determined by the Committee, Shares acquired pursuant to this Section 12.4 shall also be subject to the terms and conditions of a Subscription Agreement, which shall
be accepted and acknowledged by the Participant, including by electronic means. 
 Article 13. Forfeiture and Recoupment of Awards

 13.1 General Rule on Forfeitures. Unless otherwise provided in a then-effective written agreement (including an Award
Agreement) between a Participant and the Company, any Subsidiary or any Affiliate, Sections 13.2, 13.3, 13.4 and 13.5 below set forth the effect of a Participant’s Termination of Service on any Award then held by a Participant. 

13.2 Termination for Cause. If a Participant Termination of Service is due to Cause, then the Participant shall forfeit, as of
the date immediately preceding such Termination of Service, the Participant’s (i) outstanding and unexercised vested and nonvested Options and SARs, (ii) outstanding and nonvested Restricted Stock and (iii) outstanding and not
yet settled vested and unvested RSUs, Performance Share Units, Performance Units, Cash-Based Awards and Other Stock-Based Awards granted to the Participant. 

13.3 Options and SARs. Subject to Section 13.1, upon a Participant’s Termination of Service, any then held Options
and/or SARs shall be subject to the following rules: 
 (a) Termination of Service due to death or Disability. If a Participant incurs a
Termination of Service by reason of death or Disability, any nonvested Option and/or SAR held by the Participant shall become vested on a pro rata basis, in an amount (taken together with other Options/SARs that were granted on the same date) equal
to the product of (x) the number of unvested Options/SARs then held by the Participant that would have vested if the Participant’s Termination of Service occurred on the next following anniversary of such Options’/SARs’ grant
date and (y) a fraction, the numerator of which is the number of days that have elapsed from the later of the grant date of such Award or the most recent anniversary of such grant date and the denominator of which is 365. 

  
 16 

 (b) Other Terminations of Service. If a Participant incurs a Termination of Service for any
reason other than death or Disability, any nonvested Option and/or SAR then held by the Participant shall be forfeited. 
 13.4
Time-based Restricted Stock and Restricted Stock Units. Subject to Section 13.1, upon a Participant’s Termination of Service, any then held nonvested Restricted Stock and/or Restricted Stock Units, the vesting of which is solely
conditioned upon the completion of a service period, shall be subject to the following rules: 
 (a) Termination of Service due to death or
Disability. If a Participant incurs a Termination of Service by reason of death or Disability, any nonvested Restricted Stock and/or Restricted Stock Units then held by the Participant shall become vested on a pro rata basis, in an amount (taken
together with other restricted stock/RSUs that were granted on the same date) equal to the product of (x) the number of unvested Restricted Stock/RSUs then held by the Participant that would have vested if the Participant’s Termination of
Service occurred on the next following anniversary of such Restricted Stock/RSUs grant date and (y) a fraction, the numerator of which is the number of days that have elapsed from the later of the grant date of such Award or the most recent
anniversary of such grant date and the denominator of which is 365. 
 (b) Other Termination of Service. If a Participant incurs a
Termination of Service for any reason other than death or Disability, any nonvested Restricted Stock and/or Restricted Stock Units then held by the Participant shall be forfeited. 

13.5 Performance-Based Awards. Subject to Section 13.1, upon a Participant’s Termination of Service prior to the end
of the applicable Performance Period, any then held Award, the vesting of which is subject to the satisfaction of one or more performance conditions (“Performance-Based Awards”), shall be subject to the following rules: 

(a) Termination of Service due to death or Disability. If a Participant incurs a Termination of Service by reason of death or Disability, any
nonvested Performance-Based Awards then held by the Participant shall become vested on a pro rata basis in an amount (taken together with other Performance-Based Awards that were granted on the same date) equal to the product of (x) the number
of such Awards that would have vested based on actual achievement of Performance Goals applicable to such Awards through the end of the applicable Performance Period and (y) a fraction, the numerator of which is the number of days that have
elapsed from the first day of the applicable performance period through the date of the Participant’s Termination of Service the denominator of which is the number of days in the applicable performance period. 

(b) Other Terminations of Service. If a Participant incurs a Termination of Service for any reason other than death or Disability, any
Performance-Based Award then held by the Participant shall be forfeited. 
 13.6 Post-Termination Exercise Period for Option/SARs.
Except as otherwise provided in a Participant’s Award Agreement, if on the date of a Participant’s Termination of Service the Participant holds any vested and unexercised Options/SARs, the exercise period of such vested
Option’s/SAR’s shall end on the earliest of (i) the last day of the full term of the Options/SARs specified in the Participant’s applicable Award Agreement or (ii) the following to occur: 

(a) If the Participant incurs a Termination of Service on or after attaining Retirement Age (and such termination is not on account of Cause),
then exercise period shall end twenty-four (24) months after the date of such Termination of Service at which time the Options/SARs shall be terminated and forfeited, unless subject to exercise by the Committee under Section 6.5 or 7.7,
applicable; 
 (b) if the Participant incurs a Termination of Service by reason of the Participant’s involuntary termination without
Cause or voluntary termination for Good Reason, then the exercise period shall end one-hundred eighty (180) days after the date of such Termination of Service at which time the Options/SARs shall be
terminated and forfeited, unless subject to exercise by the Committee under Section 6.5 or 7.7, applicable; 
 (c) if the Participant
incurs a Termination of Service by reason of the Participant’s death or Disability, then the exercise period shall end twelve (12) months after the date of such Termination of Service at which time the Options/SARs shall be terminated and
forfeited, unless subject to exercise by the Committee under Section 6.5 or 7.7, as applicable; 
 (d) if the Participant incurs a
Termination of Service for any reason other than as described in paragraphs (a) through (c) above, then the exercise period shall end ninety (90) days after such Termination of Service at which time the Options/SARs shall be terminated and
forfeited, unless subject to exercise by the Committee under Section 6.5 or 7.7, as applicable. 

  
 17 

 13.7 Recoupment Events. 

(a) In addition to the forfeiture events specified in Section 13.2, the Committee may specify in an Award Agreement that the
Participant’s rights, payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable treatment of an
Award. 
 (b) Awards and any compensation directly attributable to Awards may be made subject to forfeiture, recovery by the Company or
other action pursuant to any compensation recovery policy adopted by the Board or the Committee at any time, including in response to the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder, or
as otherwise required by law and any Award Agreement may be unilaterally amended by the Committee to comply with any such compensation recovery policy. 

Article 14. Transferability of Awards and Shares 

14.1 Transferability of Awards. Unless otherwise agreed to in writing by the Committee, Awards shall not be transferable other
than by will or the laws of descent and distribution or, subject to the consent of the Committee, pursuant to a domestic relations order entered into by a court of competent jurisdiction. In no event shall any transfer of an Award be for
consideration or value. Notwithstanding the foregoing, ISOs may only be transferred by will or the laws of descent and during the lifetime of the Participant may only be exercised by the Participant in accordance with Code Section 422 and the
applicable regulations thereunder. No Awards shall be subject, in whole or in part, to attachment, execution or levy of any kind; and any purported transfer in violation of this Section 14.1 shall be null and void. The Committee may establish
such procedures as it deems appropriate for a Participant to designate a beneficiary to whom any amounts payable or Shares deliverable in the event of, or following, the Participant’s death may be provided. 

14.2 Restrictions on Share Transferability. The Committee may impose such restrictions on any Shares acquired by a Participant
under the Plan as it may deem advisable, including, without limitation, minimum holding period requirements, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are
then listed or traded or under any blue sky or state securities laws applicable to such Shares, provided no such restriction shall cause the Shares not to be “service recipient stock” within the meaning of Code Section 409A to
the extent applicable for Options and SARs. 
 Article 15. Non-employee Director Awards 

15.1 Awards to Non-employee Directors. The Committee shall approve all Awards to Non-employee Directors. The terms and conditions of any grant of any Award to a Non-employee Director shall be set forth in an Award Agreement. 

15.2 Annual Award Limit. The maximum aggregate value of equity and cash based Awards granted to any Non-employee Director during any calendar year shall not exceed $750,000 (“Annual Limit”), except in the case of a Non-employee Director who is serving as Chairman
of the Board the Annual Limit shall be increased by 200%. The value of an equity-based Award shall be based on the Award’s grant date fair value as determined under applicable accounting standards. 

  
 18 

 Article 16. Effect of a Change in Control 

16.1 Default Provisions. 

(a) Subject to Section 4.3, upon a Change in Control all then-outstanding Awards shall immediately vest and be settled in accordance with
Sections 16.2(a) and (b) below, except as may otherwise be provided in a then-effective written agreement (including an Award Agreement) between a Participant and the Company. The immediately preceding sentence shall not apply the extent that
another award meeting the requirements of Section 16.3 (“Replacement Award”) is provided to the Participant pursuant to Section 4.3 to replace an Award (“Replaced Award”) subject to Sections 16.3(a) and (b). 

(b) If a Participant incurs an involuntary Termination of Service, other than for Cause or a voluntary Termination of Service for Good Reason
within three (3) months prior to the occurrence of a Change in Control, the Participant shall be treated, solely for the purposes of this Plan (including, without limitation, this Article 16) as continuing in the employment or service of the
Company or the applicable Subsidiary until the occurrence of such Change in Control, and to have been terminated immediately thereafter. 

16.2 Treatment of Outstanding Awards Not Replaced. 

(a) Outstanding Awards Subject Solely to a Service Condition. 

(i) Upon a Change in Control, a Participant’s then-outstanding Awards, other than Options and Stock Appreciation Rights, that are not
vested and as to which vesting depends solely on the satisfaction of a service obligation by the Participant to the Company or any Affiliate shall become fully vested and shall be settled in cash, Shares or a combination thereof, as determined by
the Committee, within thirty (30) days following such Change in Control (except to the extent that settlement of the Award must be made pursuant to its original schedule in order to comply with Code Section 409A). 

(ii) Upon a Change in Control, a Participant’s then-outstanding Options and Stock Appreciation Rights that are not vested and as to
which vesting depends solely on the satisfaction of a service obligation by the Participant to the Company or any Affiliate shall immediately become fully vested and exercisable over the exercise period set forth in the applicable Award Agreement.
Notwithstanding the immediately preceding the sentence, the Committee may elect to cancel such outstanding Options or Stock Appreciation Rights and pay the Participant an amount of cash (less normal withholding taxes), within thirty (30) days
following such Change in Control (except to the extent that settlement of the Award must be made pursuant to its original schedule in order to comply with Code Section 409A), equal to the excess of (i) the value, as determined by the
Committee, of the consideration (including cash) received by the holder of a Share as a result of the Change in Control (or if the Company shareholders do not receive any consideration as a result of the Change in Control, the Fair Market Value of a
Share on the day immediately prior to the Change in Control) over (ii) the exercise price of such Options or the grant price of such Stock Appreciation Rights, multiplied by the number of Shares subject to each such Award in accordance with
Code Section 409A to the extent applicable. No payment shall be made to a Participant for any Option or Stock Appreciation Right if the exercise price or grant price for such Option or Stock Appreciation Right, respectively, exceeds the value,
as determined by the Committee, of the consideration (including cash) received by the holder of a Share as a result of Change in Control. 

(b) Outstanding Awards Subject to a Performance Condition. 

(i) Upon a Change in Control, a Participant’s then-outstanding Awards, other than Options and Stock Appreciation Rights, that are not
vested and as to which vesting depends upon the satisfaction of one or more performance conditions shall immediately vest and all performance conditions shall be deemed satisfied as if target performance was achieved, and shall be settled in cash,
Shares or a combination thereof, as determined by the Committee, within thirty (30) days following such Change in Control (except to the extent that settlement of the Award must be made pursuant to its original schedule in order to comply with
Code Section 409A), notwithstanding that the applicable performance period, retention period or other restrictions and conditions have not been completed or satisfied. 

  
 19 

 (ii) Upon a Change in Control, a Participant’s then-outstanding Options and Stock
Appreciation Rights that are not vested and as to which vesting depends upon the satisfaction of one or more performance conditions shall immediately vest and all performance conditions shall be deemed satisfied as if target performance was achieved
and shall be exercisable over the exercise period set forth in the applicable Award Agreement. Notwithstanding the immediately preceding sentence, the Committee may elect to cancel such outstanding Options or Stock Appreciation Rights and pay the
Participant an amount of cash (less normal withholding taxes) within thirty (30) days following such Change in Control (except to the extent that settlement of the Award must be made pursuant to its original schedule in order to comply with
Code Section 409A) in an amount equal to the excess of (i) the value, as determined by the Committee, of the consideration (including cash) received by the holder of a Share as a result of the Change in Control (or if the Company
shareholders do not receive any consideration as a result of the Change in Control, the Fair Market Value of a Share on the day immediately prior to the Change in Control) over (ii) the exercise price of such Options or the grant price of such
Stock Appreciation Rights, multiplied by the number of Shares subject to each such Award in accordance with Code Section 409A to the extent applicable. No payment shall be made to a Participant for any Option or Stock Appreciation Right if the
exercise price or grant price for such Option or Stock Appreciation Right, respectively, exceeds the value, as determined by the Committee, of the consideration (including cash) received by the holder of a Share as a result of Change in Control.

 16.3 Definition of Replacement Award. 

(a) An Award shall meet the conditions of this Section 16.3(a) (and hence qualify as a Replacement Award) if: (i) it is of the same
type as the Replaced Award (or, if it is of a different type as the Replaced Award (such as a deferred cash equivalent award), the Committee, as constituted immediately prior to the Change in Control, finds such type acceptable); (ii) it has a value
at least equal to the value of the Replaced Award; (iii) it relates to publicly traded equity securities listed on a U.S. national securities exchange of the Company or its successor in the Change in Control or another entity that is affiliated
with the Company or its successor following the Change in Control, except in the case of a Replacement Award granted in the form of a deferred cash equivalent award; (iv) its terms and conditions comply with Section 16.3(b); and
(v) its other terms and conditions are not less favorable to the Grantee than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change in Control). Without limiting the
generality of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied. The determination of whether the conditions of this Section 16.3(a) are
satisfied shall be made by the Committee, as constituted immediately before the Change in Control, in its sole discretion. Without limiting the generality of the foregoing, the Committee may determine the value of Awards and Replacement Awards that
are stock options or stock appreciation rights by reference to either their intrinsic value or their fair value. 
 (b) If at any time
following a Change in Control, a Participant incurs an involuntary Termination of Service without Cause or a voluntary Termination of Service for Good Reason, then all Replacement Awards held by the Participant shall become fully vested and free of
restrictions and, in the case of Replacement Awards in the form of (i) service-based stock options or stock appreciation rights shall be fully exercisable for the remainder of term of the stock options or stock appreciation rights, as
applicable, (ii) performance-based stock option or performance-based stock appreciation right shall be deemed to be satisfied at target performance and shall be fully exercisable for the remainder of term of the stock option or stock
appreciation right, as applicable, (iii) performance-based Awards (other than stock options and stock appreciation rights) shall be deemed to be satisfied at target performance and paid upon or within thirty (30) days of such Termination
of Service, (iv) service-based Awards (other than stock options or stock appreciation rights) shall be paid upon or within thirty (30) days of such Termination of Service. Notwithstanding the foregoing, with respect to any Award that is
considered deferred compensation subject to Code Section 409A, settlement of such Award shall be made pursuant to its original schedule if necessary to comply with Code Section 409A. 

Article 17. Dividends and Dividend Equivalents 

17.1 Payment of Dividends on Restricted Stock. With respect to an Award of Restricted Stock, the Committee may grant or limit
the right of a Participant to receive dividends declared on Shares that are subject to such Award to the extent the Award is not yet vested. The terms of any right to dividends shall be as set forth in the applicable Award Agreement, including the
time and form of payment and whether such dividends shall be credited with interest or deemed to be reinvested 

  
 20 

 
in additional shares of Restricted Stock. If the Committee grants the right of a Participant to receive dividends declared on Shares subject to an unvested Award of Restricted Stock, then such
dividends shall be subject to the same performance conditions and/or service conditions, as applicable, as the underlying Award. 

17.2 Payment of Dividend Equivalents on Awards Other than Options, SARs and Restricted Stock. Except for Options, SARs and
Restricted Stock, the Committee may grant Dividend Equivalents on the units or other Share equivalents subject to an Award based on the dividends actually declared and paid on outstanding Shares. The terms of any dividend equivalents shall be as set
forth in the applicable Award Agreement, including the time and form of payment and whether such dividend equivalents shall be credited with interest or deemed to be reinvested in additional units or Share equivalents. Dividend Equivalents shall be
subject to the same performance conditions and service conditions, as applicable, as the underlying Award. 
 Article 18. Beneficiary
Designation 
 Each Participant under the Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or
successively) to whom any benefit under the Plan is to be paid in case of his death before he receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed
by the Committee, and shall be effective only when filed by the Participant in writing with the Company during the Participant’s lifetime. In the absence of any such beneficiary designation, benefits remaining unpaid or rights remaining
unexercised at the Participant’s death shall be paid to or exercised by the Participant’s executor, administrator or legal representative. 

Article 19. Rights of Participants 

19.1 Employment. Nothing in the Plan or an Award Agreement shall (a) interfere with or limit in any way the right of the
Company or any Subsidiary or any Affiliate to terminate any Participant’s employment with the Company or any Subsidiary or any Affiliate at any time or for any reason not prohibited by law or (b) confer upon any Participant any right to
continue his employment or service as a Director for any specified period of time. Neither an Award nor any benefits arising under the Plan shall constitute an employment contract with the Company or any Subsidiary or any Affiliate. 

19.2 Participation. No individual shall have the right to be selected to receive an Award under the Plan, or, having been so
selected, to be selected to receive a future Award. 
 19.3 Rights as a Shareholder. Except as otherwise provided herein, a
Participant shall have none of the rights of a shareholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares. 

Article 20. Amendment and Termination 

20.1 Amendment and Termination of the Plan and Awards. 

(a) Subject to subparagraphs (b) and (c) of this Section 20.1 and Section 20.4 of the Plan, the Board may at any time amend,
suspend or terminate the Plan, and the Board or Committee may at any time amend, suspend or terminate any outstanding Award Agreement. 

(b) Without the prior approval of the Company’s shareholders and except as provided for in Section 4.3, no Option or SAR Award may
be (i) amended to reduce the Exercise Price or the Grant Price thereof, as applicable; (ii) cancelled in exchange for the grant of any new Option or SAR with a lower Exercise Price or Grant Price, as applicable; or (iii) cancelled in
exchange for cash, other property or the grant of any new Award at a time when the Exercise Price of the Option or the Grant Price of the SAR is greater than the current Fair Market Value of a Share. 

(c) Notwithstanding the foregoing, no amendment of the Plan shall be made without shareholder approval if shareholder approval is required
pursuant to rules promulgated by any stock exchange or quotation system on which Shares are listed or quoted or by applicable U.S. state corporate laws or regulations, or U.S. federal laws or regulations. 

  
 21 

 20.2 Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring
Events. 
 (a) The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of
unusual or nonrecurring events (including, without limitation, the events described in Section 4.3) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles,
whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan. 

(b) The Committee shall retain the discretion to decrease the amount payable pursuant to a Cash-Based Award below the amount that would
otherwise be payable upon attainment of the applicable performance goal(s) over a Performance Period that does not exceed a term of one (1) year, either on a formula or discretionary basis or any combination, as the Committee or its authorized
delegate determines is appropriate. 
 (c) Any subplan may provide that the Committee shall retain the discretion to decrease the amount
payable pursuant to a Cash-Based Award granted under such subplan below the amount that would otherwise be payable upon attainment of the applicable performance goal(s) over a Performance Period that does not exceed a term of one (1) year,
either on a formula or discretionary basis or any combination, as the Committee or its authorized delegate determines is appropriate. 
 (d)
The determination of the Committee as to any adjustments made pursuant to subparagraphs (a), (b) and (c) above shall be conclusive and binding on Participants under the Plan. By accepting an Award under the Plan, a Participant agrees to any
adjustment to the Award made pursuant to this Section 20.2 without further consideration or action. 
 20.3 Amendment to
Conform to Law. Notwithstanding any other provision of the Plan to the contrary, the Board may amend the Plan and the Board or the Committee may amend an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or
advisable for the purpose of conforming the Plan or an Award Agreement to (i) any law relating to plans of this or similar nature, and to the administrative regulations and rulings promulgated thereunder, (ii) any applicable exchange
requirements and (iii) any compensation recoupment policy adopted by the Company. By accepting an Award under the Plan, a Participant agrees to any amendment made pursuant to this Section 20.3 without further consideration or action. 

20.4 Awards Previously Granted. Notwithstanding any other provision of the Plan to the contrary, other than Sections 4.3, 20.2
and 20.3, no termination or amendment of the Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Participant holding such Award. 

20.5 Deferred Compensation. Unless otherwise indicated in the applicable Award Agreement, it is not intended that any Award
under the Plan, in form and/or operation, shall constitute “deferred compensation” within the meaning of Code Section 409A and therefore, it is intended that each Award shall not be subject to the requirements applicable to deferred
compensation under section 409A of the Code and the regulations thereunder. If a Participant is a “specified employee” as defined under Code Section 409A and the Participant’s Award is to be settled on account of the
Participant’s separation from service (for reasons other than death) and such Award constitutes “deferred compensation” as defined under Code Section 409A, then any portion of the Participant’s Award that would otherwise be
settled during the six-month period commencing on the Participant’s separation from service shall be settled as soon as practicable following the conclusion of the
six-month period (or following the Participant’s death if it occurs during such six-month period). To the extent that any Award constitutes deferred compensation
subject to Code Section 409A, such Award shall be interpreted and construed to comply with Code Section 409A including, without limitation, a termination of employment shall mean a “separation of service” within the meaning of
Code Section 409A. 
 Article 21. General Provisions 

21.1 Tax Withholding. 

(a) Tax Withholding Generally. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the
Company, an amount sufficient to satisfy applicable federal, state and local tax withholding requirements, domestic or foreign, with respect to any taxable event arising as a result of the grant, vesting, exercise or settlement of an Award to the
Participant under the Plan. 

  
 22 

 (b) Share Withholding. Unless otherwise required by the Committee, the Company shall have
the power and the right to withhold from a Share Payment the number of Shares having a Fair Market Value equal to the minimum statutory withholding requirements. Notwithstanding the immediately preceding sentence, the Company, in its discretion, may
withhold Shares from a Share Payment, the number of Shares having a Fair Market Value up to, but not in excess of, the maximum statutory withholding requirements. The term “Share Payment” shall mean the issuance or delivery of Shares upon
the grant, vesting, exercise or settlement of an Award, as the case may be. 
 21.2 Right of Setoff. The Company or any
Subsidiary or Affiliate may, to the extent permitted by applicable law, deduct from and set off against any amounts the Company or a Subsidiary or Affiliate may owe to the Participant from time to time (including amounts payable in connection with
any Award), such amounts owed by the Participant to the Company or any Subsidiary or Affiliate; provided, however, that no such setoff shall be permitted if it would constitute a prohibited “acceleration” or “deferral” of a
payment hereunder within the meaning of Code Section 409A. Participant shall remain liable for any part of Participant’s payment obligation not satisfied through such deduction and setoff. By accepting any Award granted hereunder,
Participant agrees to any deduction or setoff under this Section 21.2. 
 21.3 Legend. The certificates for Shares may
include any legend that the Committee deems appropriate to reflect any restrictions on transfer of such Shares. 
 21.4 Gender and
Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular, and the singular shall include the plural. 

21.5 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

21.6 Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable
laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

21.7 Delivery of Shares. The Company shall have no obligation to issue or deliver Shares under the Plan prior to: 

(a) Obtaining any approvals from governmental agencies that the Company determines are necessary or advisable; and 

(b) Completion of any registration or other qualification of the Shares under any applicable national or foreign law or ruling of any
governmental body that the Company determines to be necessary or advisable. 
 21.8 Inability to Obtain Authority. The
inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of
any liability in respect of the failure to issue or deliver such Shares as to which such requisite authority shall not have been obtained. 

21.9 Investment Representations. The Committee may require any individual receiving Shares pursuant to an Award under the Plan
to represent and warrant in writing that the individual is acquiring the Shares for investment and without any present intention to sell or distribute such Shares. 

21.10 Uncertificated Shares. To the extent that the Plan provides for issuance of certificates to reflect the transfer of
Shares, the transfer of such Shares may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 

21.11 Unfunded Plan. Participants shall have no right, title or interest whatsoever in or to any investments that the Company or
any Subsidiaries 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

  
 23 

 
relationship between the Company and any Participant, beneficiary, legal representative or any other individual. To the extent that any individual acquires a right to receive payments from the
Company or any Subsidiary or any Affiliate under the Plan, such right shall be no greater than the right of an unsecured general creditor of the Company or the Subsidiary or the Affiliate, as the case may be. All payments to be made hereunder shall
be paid from the general funds of the Company, or the Subsidiary or the Affiliate, as the case may be, and no special or separate fund shall be established, and no segregation of assets shall be made to assure payment of such amounts except as
expressly set forth in the Plan. 
 21.12 No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to
the Plan or any Award. The Committee shall determine whether cash, Awards or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 

21.13 Non-Exclusivity of the Plan. The adoption of the Plan shall not be construed as
creating any limitations on the power of the Board or Committee to adopt such other compensation arrangements as it may deem desirable for any Participant. 

21.14 No Constraint on Corporate Action. Nothing in the Plan shall be construed to: (i) limit, impair, or otherwise affect
the Company’s or a Subsidiary’s or a Affiliate’s right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell or
transfer all or any part of its business or assets; or, (ii) limit the right or power of the Company or a Subsidiary or an Affiliate to take any action that such entity deems to be necessary or appropriate. 

21.15 Governing Law. The Plan and each Award Agreement shall be governed by the laws of the State of Delaware excluding any
conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction. 

21.16 Delivery and Execution of Electronic Documents. To the extent permitted by applicable law, the Company may
(i) deliver by email or other electronic means (including posting on a website maintained by the Company or by a third party under contract with the Company) all documents relating to the Plan or any Award thereunder (including without
limitation, prospectuses required by the Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy statements) and (ii) permit Participants to
electronically execute applicable Plan documents (including, but not limited to, Award Agreements) in a manner prescribed to the Committee. 

21.17 No Representations or Warranties Regarding Tax Effect. Notwithstanding any provision of the Plan to the contrary, neither
the Company, any Subsidiary, any Affiliate nor any of their employees, the Board, the Committee, any shareholder or any of their agents represent nor warrant the tax treatment under any federal, state, local or foreign laws and regulations
thereunder (individually and collectively referred to as the “Tax Laws”) of any Award granted or any amounts paid to any Participant under the Plan including, but not limited to, when and to what extent such Awards or amounts may be
subject to tax, penalties and interest under the Tax Laws. 

  
 24 

 21.18 Indemnification. Subject to requirements of the laws of the State of
Delaware, each individual who is or shall have been a member of the Board, or a Committee appointed by the Board, or an officer of the Company or other person to whom authority was delegated in accordance with Article 3, shall be indemnified and
held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may be a
party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in
satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it
on his/her own behalf, unless such loss, cost, liability or expense is a result of his/her own willful misconduct or except as expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of
indemnification to which such individuals may be entitled under the Company’s Articles of Incorporation or Bylaws, as a matter of law or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

21.19 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 and/or assets of the Company. 

  
 25snss-ex41_109.htm

Exhibit 4.1

 

 

Description of the Company’s Common Stock Registered

Under Section 12 of the Exchange Act of 1934

The following is a description of the common stock, $0.0001 par value per share (“Common Stock”) of Sunesis Pharmaceuticals, Inc. (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities and Exchange Act of 1934, as amended.  The following summary describes the material terms of our Common Stock. The description of our Common Stock is based on the provisions of our amended and restated certificate of incorporation, our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”). This information may not be complete in all respects and is qualified entirely by reference to our amended and restated certificate of incorporation, our amended and restated bylaws and the DGCL. For a complete description of the terms and provisions of the Company’s capital stock, including its Common Stock, refer to our amended and restated certificate of incorporation and our amended and restated bylaws, both of which are filed as exhibits to our Annual Report on Form 10-K filed with the Securities Exchange Commission on March 10, 2020. Capitalized terms used but not defined herein have the meanings given them our amended and restated certificate of incorporation.

Common Stock 

The Company is authorized to issue up to 400,000,000 shares of Common Stock. The holders of Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders and do not have cumulative voting rights with respect to the election of directors. Generally, all matters to be voted on by stockholders must be approved by the holders of a majority of the Common Stock and Preferred Stock (voting together as a single class on an as-if converted basis), or, in the case of the election of directors, a plurality, represented at a meeting at which a quorum is present. Subject to preferences that may be applicable to the outstanding shares of Preferred Stock, the holders of Common Stock are entitled to receive ratably such dividends as may be declared by the board of directors out of funds legally available therefor. Upon the liquidation, dissolution or winding up of the Company, holders of our Common Stock are entitled to share ratably in all assets legally available for distribution to stockholders remaining after payment of liabilities and the liquidation preferences of outstanding shares of Preferred Stock. Holders of Common Stock have no preemptive rights and no right to convert their Common Stock into any other securities. There are no redemption or sinking fund provisions applicable to our Common Stock. 

Anti-Takeover Effects of Provisions of Charter Documents and Delaware Law 

Charter Documents

 In accordance with our amended and restated certificate of incorporation, our board of directors is divided into three classes, with staggered three-year terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because our stockholders do not have cumulative voting rights, in the case of the election of directors, holders of a plurality of the Common Stock represented at a meeting at which a quorum is present will be able to elect all of our directors. Our amended and restated certificate of incorporation and our amended and restated bylaws provide that all actions taken by the holders of Common Stock must be effected at a duly called meeting of stockholders and not by a consent in writing, and that only our board of directors, chairman of the board, chief executive officer, or president (in the absence of a chief executive officer) or holder of greater than 10% of our Common Stock may call a special meeting of stockholders. Our amended and restated certificate of incorporation requires a 66- 2/3% stockholder vote for the amendment, repeal or modification of certain provisions of our amended and restated certificate of incorporation and our amended and restated bylaws relating to the absence of cumulative voting, the classification of our board of directors, the requirement that stockholder actions be effected at a duly called meeting, and the designated parties entitled to call a special meeting of the stockholders.  

The classification of our board of directors, the lack of cumulative voting and the 66- 2/3% stockholder voting requirements make it more difficult for our existing holders of our Common Stock to replace our board of directors as well as for another party to obtain control of us by replacing our board of directors. Since our board of directors has the power to retain and discharge our officers, these provisions could also make it more difficult for existing holders of our Common Stock or another party to effect a change in management. 

In addition, the authorization of undesignated Preferred Stock makes it possible for our board of directors to issue shares of Preferred Stock with voting or other rights or preferences that could impede the success of any attempt to change our control. 

Our amended and restated certificate of incorporation authorizes our board of directors to issue up to 10,000,000 shares of our Preferred Stock, of which, as of December 31, 2019: (i) 5,000,000 are designated Series A Preferred Stock, none of which are issued and outstanding as, (ii) 30,000 are designated as Series B Preferred Stock, none of which are issued and outstanding, (iii) 3,000 are designated as Series C Preferred Stock, none of which are issued and outstanding, (iv) 2,500 are designated as Series D Preferred Stock, 1,381 of which are issued and outstanding, (v) 17,000 are designated as Series E Preferred Stock, 10,000 of which are issued and outstanding and (vi) 8,333 are designated as Series F Preferred Stock, all of which are issued and outstanding. For a complete description of the terms and provisions of the Company’s Preferred Stock, refer to our amended and restated certificate of incorporation and our amended and restated bylaws, both of which are filed as exhibits to this Annual Report on Form 10-K.

These provisions may have the effect of deterring hostile takeovers or delaying changes in our control or management. These provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies and to discourage certain types of transactions that may involve an actual or threatened change in control. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal. The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they also may inhibit fluctuations in the market price of our shares that could result from actual or rumored takeover attempts. Such provisions also may have the effect of preventing changes in our management. 

 

Section 203 of the Delaware General Corporation Law 

We are subject to Section 203 of the DGCL, which prohibits a Delaware corporation from engaging in a business combination with any interested stockholder for a period of three years following the date the person became an interested stockholder, with the following exceptions: 

 

				
	
 
	
•
	
 
	
before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested holder; 

 

	
 
	
•
	
 
	
upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (a) by persons who are directors and also officers and (b) pursuant to employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; and 

 

	
 
	
•
	
 
	
on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder. 

In general, Section 203 of the DGCL defines business combination to include the following: 

 

				
	
 
	
•
	
 
	
any merger or consolidation involving the corporation and the interested stockholder; 

 

	
 
	
•
	
 
	
any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder; 

 

	
 
	
•
	
 
	
subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; 

 

	
 
	
•
	
 
	
any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by the interested stockholder; and 

 

	
 
	
•
	
 
	
the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits by or through the corporation. 

Section 203 of the DGCL defines an “interested stockholder” as an entity or person who, together with the entity’s or person’s affiliates and associates, beneficially owns, or is an affiliate of the corporation and within three years prior to the 

time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation. A Delaware corporation may “opt out” of these provisions with an express provision in its certificate of incorporation. We have not opted out of these provisions, which may as a result, discourage or prevent mergers or other takeover or change of control attempts of us.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]