Document:

EX-10.1

 Exhibit 10.1 

ASSUMPTION AGREEMENT 

THIS ASSUMPTION AGREEMENT (this “Assumption Agreement”) dated as of October 16, 2020 is between Aaron’s,
Inc., a Georgia corporation (“Aaron’s”), and Aaron’s Holdings Company, Inc., a Georgia corporation and a wholly owned subsidiary of Aaron’s (“HoldCo”). All capitalized terms used in this Assumption
Agreement and not defined herein have the respective meanings ascribed to them in the Agreement and Plan of Merger, dated as of May 1, 2020 (the “Merger Agreement”), by and among HoldCo, Aaron’s and Aaron’s Merger
Sub, Inc., a Georgia corporation and a wholly owned subsidiary of HoldCo (“Merger Sub”). 
 RECITALS 

WHEREAS, pursuant to the Merger Agreement, at the Effective Time Merger Sub will be merged with and into Aaron’s, with
Aaron’s continuing as the surviving corporation, each outstanding share of Aaron’s Common Stock will be converted into one share of HoldCo Common Stock and each outstanding share of HoldCo Common Stock held by Aaron’s will be canceled
(the “Holding Company Formation”); and 
 WHEREAS, in connection with the Holding Company Formation, HoldCo will
assume Aaron’s currently effective registration statements (collectively, the “Registration Statements”), Aaron’s Registered Stock Plans (including the Aaron’s Stock Awards), the Employee Benefit Plans and the
Director Plan (as such terms are defined below), all upon the terms and subject to the conditions set forth in this Assumption Agreement. 

NOW, THEREFORE, for good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged,
Aaron’s and HoldCo hereby agree as follows: 
 I. 

ASSUMPTION OF REGISTRATION STATEMENTS 

1. Subject to and as of the Effective Time, by virtue of the Merger, HoldCo assumes the Registration Statements subject to the terms and
conditions of the Merger Agreement and, to the extent set forth therein, hereby assumes all obligations of Aaron’s under the Registration Statements. 

2. HoldCo, as of the Effective Time by virtue of the Merger, shall be deemed a “successor issuer” for purposes of continuing
offerings under the Securities Act of 1933, as amended (the “Securities Act”). As soon as practicable following the Effective Time, HoldCo agrees to file post-effective amendments to each of the Registration Statements, adopting
such statements as HoldCo’s own registration statements for all purposes of the Securities Act and the Securities Exchange Act of 1934 and setting forth any additional information necessary to reflect any material changes made in connection
with or resulting from the succession or as necessary to keep the Registration Statements from being misleading. 

 II. 

ASSUMPTION OF EQUITY PLANS 

1. Subject to and as of the Effective Time, by virtue of the Merger, Aaron’s assigns to HoldCo and HoldCo assumes and will perform, from
and after the Effective Time, all of the obligations of Aaron’s pursuant to the Amended and Restated Aaron Rents, Inc. 2001 Stock Option and Incentive Award Plan, the Aaron’s Inc. Amended and Restated 2015 Equity and Incentive Award Plan
and the Aaron’s, Inc. Employee Stock Purchase Plan (collectively, the “Registered Stock Plans”). 
 2. Subject to and
as of the Effective Time, by virtue of the Merger, HoldCo assumes each option to purchase or right to acquire or vest or be settled in Aaron’s Common Stock and/or cash issued under the Amended and Restated Aaron Rents, Inc. 2001 Stock Option
and Incentive Award Plan, and the Aaron’s Inc. Amended and Restated 2015 Equity and Incentive Award Plan (the “Aaron’s Stock Plans”) or granted by Aaron’s outside of the Aaron’s Stock Plans that is outstanding
and unexercised, unvested, unsettled and/or not yet paid or payable immediately prior to the Effective Time (“Aaron’s Stock Awards”), which shall automatically be converted into an option to purchase or right to acquire or vest
in or be settled in, on otherwise the same terms and conditions as were applicable under the respective Aaron’s Stock Plan or the underlying equity or equity-based award agreement (as modified herein), that number of shares of HoldCo Common
Stock and/or cash amount equal to the number of shares of Aaron’s Common Stock and/or cash amount subject to such Aaron’s Stock Award, and, for stock options, an exercise price per share equal to the exercise price per share for such
Aaron’s stock option immediately prior to the Effective Time. Any shares of Aaron’s Common Stock that remain available for issuance pursuant to the Aaron’s Stock Plans immediately prior to the Effective Time shall, by virtue of the
Merger, be assumed by HoldCo in such a manner that such shares are converted, as of the Effective Time, into that number of shares of HoldCo Common Stock equal to the number of such shares of Aaron’s Common Stock. Such shares of Holdco Common
Stock shall be available for issuance under the Aaron’s Stock Plans assumed by HoldCo on and after the Effective Time. 
 3. Subject to
and as of the Effective Time, by virtue of the Merger, HoldCo assumes sponsorship of the Aaron’s, Inc. Employee Stock Purchase Plan (the “ESPP”), such that each participant eligible to purchase a share of Aaron’s Common
Stock under the ESPP shall automatically be eligible to purchase a share of HoldCo Common Stock as of the Effective Time at the same price per share in effect immediately prior to the Effective Time, and otherwise the same terms and conditions as
were applicable, under the ESPP immediately prior to the Effective Time shall apply. Any shares of Aaron’s Common Stock that remain available for issuance pursuant to the ESPP immediately prior to the Effective Time shall, by virtue of the
Merger, automatically be assumed by HoldCo in such a manner that such shares are converted, as of the Effective Time, into that number of shares of HoldCo Common Stock equal to the number of such shares of Aaron’s Common Stock. Such shares of
Holdco Common Stock shall be available for issuance under the ESPP assumed by HoldCo on and after the Effective Time 
 4. HoldCo and
Aaron’s agree to (i) prepare and execute all amendments to the Registered Stock Plans, Aaron’s Stock Awards, and other documents necessary to effectuate HoldCo’s assumption of the Registered Stock Plans and the Aaron’s Stock
Awards, and (ii) submit any required filings with the Securities and Exchange Commission in connection with the foregoing. 

  
 2 

 5. On or prior to the Effective Time, HoldCo shall reserve sufficient shares of HoldCo
Common Stock to provide for the issuance of HoldCo Common Stock to satisfy HoldCo’ obligations under the Merger Agreement, including, without limitation, the Registered Stock Plans, the ESPP and the Aaron’s, Inc. Employees Retirement Plan.

 6. The assumption and conversion of Aaron’s Common Stock and other equity awards and plans set forth in this Article II shall in all
events be implemented in a manner satisfying the requirements of Sections 409A, 422 and 424 of the Code and the regulations issued thereunder and the provisions of the applicable plan. 

III. 
 ASSUMPTION OF
EMPLOYEE BENEFIT PLANS 
 1. Subject to and as of the Effective Time, by virtue of the Merger, Aaron’s transfers, and HoldCo
assumes and accepts sponsorship of, the Aaron’s, Inc. Employees Retirement Plan and the Aaron’s, Inc. Deferred Compensation Plan (the “Employee Benefit Plans”), along with any and all agreements, rights, duties, assets and
liabilities associated with such Employee Benefit Plans, such that Aaron’s will no longer sponsor any of the Employee Benefit Plans on and after the Effective Time. 

2. From and after the Effective Time, by virtue of the Merger, each share of Aaron’s Common Stock held under the Aaron’s, Inc.
Employees Retirement Plan shall be assumed by HoldCo in such a manner that it is automatically converted into a share of HoldCo Common Stock. 

3. As of and subject to the Effective Time, by virtue of the Merger, Aaron’s transfers, and HoldCo assumes and accepts, any and all trusts
and related trust agreements and other funding vehicles maintained by Aaron’s in connection with such Employee Benefit Plans. 
 4. As
of and subject to the Effective Time, by virtue of the Merger, Aaron’s will be a participating employer in the Employee Benefit Plans, and all of Aaron’s employees, to the extent otherwise eligible pursuant to the terms of the applicable
Employee Benefit Plan, shall be eligible to participate or continue to be eligible to participate, as applicable, in such Employee Benefit Plans by taking into account any service such employees were credited previously by Aaron’s for purposes
of such plans. 
 5. HoldCo and Aaron’s agree to prepare, execute and deliver any and all amendments to the Employee Benefit Plans and
other documents necessary to effectuate HoldCo’s assumption of sponsorship of such Employee Benefit Plans and the related trusts, trust agreements and funding vehicles and HoldCo’s and Aaron’s participation in such Employee Benefit
Plans as participating employers for their respective eligible employees. 

  
 3 

 IV. 

ASSUMPTION OF DIRECTOR PLAN 

1. Subject to and as of the Effective Time, Aaron’s assigns to HoldCo and HoldCo assumes and will perform, from and after the Effective
Time, all of the obligations of Aaron’s pursuant to the Aaron’s, Inc. Amended and Restated Compensation Plan for Non-Employee Directors (the “Director Plan”). 

2. HoldCo and Aaron’s agree to prepare and execute all amendments to the Director Plan and other documents necessary to effectuate
HoldCo’s assumption of sponsorship of such Director Plan. 
 V. 

MISCELLANEOUS 
 1.
At the Effective Time, any compensatory plan, agreement, program or policy related to Aaron’s Common Stock shall each be automatically deemed to be amended without further action, to the extent necessary or appropriate, to provide that
references to Aaron’s in such compensatory plan, agreement, program or policy (including any related documents) shall be deemed to refer solely to HoldCo. 

2. Aaron’s and HoldCo agree that the Merger does not constitute a “Change in Control” under the Registered Stock Plans, the
Aaron’s Stock Awards, the Deferred Compensation Plan, the Director Plan or any other compensatory plan, agreement, program or policy of Aaron’s or its subsidiaries. 

3. Each of HoldCo and Aaron’s will, from time to time and at all times hereafter, upon every reasonable request to do so by the other
party hereto, make, do, execute and deliver, or cause to be made, done, executed and delivered, all such further acts, deeds, assurances and things as may be reasonably required or necessary in order to further implement and carry out the intent and
purpose of this Assumption Agreement. 
 [Signatures Follow on Next Page] 

  
 4 

 IN WITNESS WHEREOF, HoldCo and Aaron’s have caused this instrument to be duly
executed as of and on the date first above written, to be effective as of the Effective Time. 
  

			
	AARON’S HOLDINGS COMPANY, INC.
		
	By:	 	 /s/ Todd King

		 	Name: Todd King
		 	Title: Vice President and Assistant Secretary
	
	AARON’S, INC.
		
	By:	 	 /s/ Robert W. Kamerschen

		 	Name: Robert W. Kamerschen
		 	Title: Executive Vice President, General Counsel, Chief Corporate Affairs Officer & Corporate Secretary

 [Signature Page to Assumption Agreement]EX-10.2

 Exhibit 10.2 

AARON’S, INC. 

AMENDED AND RESTATED 2015 EQUITY AND INCENTIVE PLAN 

2020 AMENDMENT AND RESTATEMENT 

ARTICLE 1. PURPOSE AND GENERAL PROVISIONS 

1.1 Establishment of Plan. Aaron’s, Inc., a Georgia corporation (“Aaron’s”), previously
established an incentive compensation plan known as the Aaron’s, Inc. Amended and Restated 2015 Equity and Incentive Plan (the “2015 Plan”). Effective on the closing of the transactions contemplated by the Agreement and Plan of
Merger, dated May 1, 2020, among Aaron’s, Aaron’s Holdings Company, Inc. (“Holdings”) and Aaron’s Merger Sub, Inc. (the “Merger”), Aaron’s shall become a wholly owned subsidiary of Holdings.
Effective on the Merger, responsibility for the 2015 Plan, including administration of the 2015 Plan and payment of all outstanding awards under the 2015 Plan, shall be assumed by Holdings. The Board of Directors of Holdings (the
“Board”) hereby amends and restates the 2015 Plan as set forth in this document, as the Aaron’s Inc. Amended and Restated 2015 Equity and Incentive Plan, 2020 Amendment and Restatement (the “Plan”) to provide
that all awards granted under the Plan outstanding as of the date of the Merger and payable in Aaron’s common stock, and all future awards under the Plan, shall be paid in shares of Holdings common stock, subject to equitable adjustments under
Section 4.3 of the Plan, and governed by the terms of the respective award agreements and by the Plan. 
 1.2 Purpose of Plan.
The purpose of the Plan is to promote the long-term growth and profitability of the Company and its subsidiaries by (i) providing certain employees, directors, consultants, advisors and other persons who perform services for the Company and its
subsidiaries with incentives to maximize shareholder value and otherwise contribute to the success of the Company, and (ii) enabling the Company to attract, retain and reward outstanding individuals to serve as directors, officers and
employees. 
 1.3 Types of Awards. Awards under the Plan may be made to eligible Participants in the form of Incentive Stock Options,
Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Other Awards, Annual Incentive Awards, or any combination thereof. 

1.4 Effective Date. The 2015 Plan was originally effective March 10, 2015. The Plan, as amended and restated herein, shall be
effective as of October 16, 2020, (the “Effective Date”), the date it was adopted by the Board. 
 1.5 Termination
of the Plan. No awards shall be granted under the Plan after the tenth (10th) anniversary of the Effective Date. Awards granted under the Plan on or prior to the tenth (10th) anniversary of the Effective Date shall remain outstanding beyond that date in accordance with the terms and conditions of the Plan and the Agreements corresponding to such Awards. 

 

 ARTICLE 2. DEFINITIONS 

Except where the context otherwise indicates, the following definitions apply: 

“409A AWARD” means an Award that is not exempt from Code section 409A. 

“AGREEMENT” means the written or electronic agreement evidencing an Award granted to a Participant under the Plan. As
determined by the Committee, each Agreement shall consist of either (i) a written agreement in a form approved by the Committee and executed on behalf of the Company by an officer duly authorized to act on its behalf, or (ii) an electronic
notice of Award in a form approved by the Committee and recorded by the Company (or its designee) in an electronic recordkeeping system used for the purpose of tracking Awards, and if required by the Committee, executed or otherwise electronically
accepted by the recipient of the Award in such form and manner as the Committee may require. The Committee may authorize any officer of the Company (other than the particular Award recipient) to execute any or all Agreements on behalf the Company.

 “ANNUAL INCENTIVE AWARD” mean an Award under Article 10 that entitles the Participant to receive a payment in cash or
other property specified by the Committee to the extent performance goals are achieved. 
 “AWARD” means an award granted
to a Participant under the Plan that consists of one or more Incentive Stock Options, Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Other Awards, Annual
Incentive Awards, or a combination of these. 
 “BOARD” means the Board of Directors of the Company. 

“CAUSE” means, unless provided otherwise in the Agreement, (i) the Participant’s material fraud, malfeasance, gross
negligence, or willful misconduct with respect to business affairs of the Employer, which is, or is reasonably likely to be if such action were to become known by others, directly or materially harmful to the business or reputation of the Employer;
(ii) the Participant’s conviction of or failure to contest prosecution for a felony or a crime involving fraud, embezzlement, theft or moral turpitude; (iii) the Participant’s breach of the Agreement (including, without
limitation, any provisions relating to maintaining confidential information and not soliciting the Employer’s employees and customers); or (iv) the willful and continued failure or habitual neglect by the Participant to perform his duties
with the Employer substantially in accordance with the operating and personnel policies and procedures of the Employer. “Cause” shall be determined by the Committee in its sole discretion. Notwithstanding the foregoing, if the Participant
has entered into an employment agreement with the Employer that is binding as of the date of employment termination, and if such employment agreement defines “Cause,” then the definition of “Cause” in such agreement shall apply
to the Participant for Awards under this Plan. 

  
 2 

 “CHANGE IN CONTROL” means the occurrence of one of the following events:

 (a) The acquisition (other than from the Company) by any Person of beneficial ownership (within the meaning of Rule 13d- 3 promulgated under the Exchange Act (but without regard to any time period specified in Rule 13d-3(d)(l)(i))), of thirty-five percent (35%) or more of the combined
voting power of then outstanding securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); excluding, however, (1) any acquisition by the Company or
(2) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; 

(b) A majority of the members of the Board is replaced during any 12- month period by directors whose
appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election; or 
 (c)
Consummation by the Company of a reorganization, merger, or consolidation or sale of all or substantially all of the assets of the Company (a “Transaction”); excluding, however, a Transaction pursuant to which all or substantially
all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Company Voting Securities immediately prior to such Transaction will beneficially own, directly or indirectly, more than fifty percent (50%) of the
combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors of the corporation resulting from such 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 indirectly) in substantially the same proportions relative to each other as their ownership, immediately prior to such Transaction, of the
Outstanding Company Voting Securities. 
 Notwithstanding the foregoing, for purposes of any 409A Award, if that Award provides for a change
in the time or form of payment upon a Change in Control, then no Change in Control shall be deemed to have occurred upon an event described above unless the event would also constitute a change in ownership of the Company, a change in effective
control of the Company, or a change in ownership of a substantial portion of the Company’s assets under Code section 409A. 

“CODE” means the Internal Revenue Code of 1986, as now in effect and as hereafter amended from time to time. Any reference to
a particular section of the Code includes any applicable regulations promulgated under that section. All citations to sections of the Code are to such sections as they may from time to time be amended or renumbered. 

“COMMITTEE” means the Compensation Committee of the Board or such other committee consisting of two or more members of the
Board as may be appointed by the Board from time to time to administer this Plan pursuant to Article 3. If the Common Stock is traded on the NASDAQ or the NYSE, all of the members of the Committee shall be independent directors within the meaning of
the NASDAQ’s or NYSE’s listing standards (as applicable). If any member of the Committee does not qualify as a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act, the Board shall appoint a subcommittee of the Committee, consisting of at least two Non-Employee Directors to grant Awards to Insiders; each
member of such subcommittee shall be a Non-Employee Director. References to the Committee in the Plan shall include and, as appropriate, apply to any such subcommittee. 

  
 3 

 “COMMON STOCK” means the Common Stock of the Company, and any other shares
into which such stock may be changed by reason of a recapitalization, reorganization, merger, consolidation or any other change in the corporate structure or capital stock of the Company. 

“COMPANY” means Aaron’s Holdings Company, Inc., a Georgia corporation, and its successors and assigns. 

“DISABILITY” means, with respect to any Incentive Stock Option, a disability as determined under Code section 22(e)(3), and
with respect to any other Award, unless provided otherwise in an Agreement (in which case such definition shall apply for purposes of the Plan with respect to that particular Award), (i) with respect to a Participant who is eligible to participate
in a program of long-term disability insurance maintained by the Employer, the date on which the insurer or administrator under such program of long-term disability insurance determines that the Participant is eligible to commence benefits under
such program, and (ii) with respect to any Participant (including a Participant who is eligible to participate in a program of long-term disability insurance maintained by the Employer), the Participant’s inability, due to physical or
mental injury or illness, to perform the essential functions of his position with or without reasonable accommodation for a period of one hundred eighty (180) days, whether or not consecutive, occurring within any period of twelve
(12) consecutive months, subject to any limitation imposed by federal, state or local laws, including, without limitation, the American with Disabilities Act. 

Notwithstanding the preceding provisions of this definition or anything in any Agreement to the contrary, to the extent any provision of this
Plan or an Agreement would cause a payment of a 409A Award to be made because of the Participant’s Disability, then there shall not be a Disability that triggers payment until the date (if any) that the Participant is disabled within the
meaning of Code section 409A(a)(2)(C). Any payment that would have been made except for the application of the preceding sentence shall be made in accordance with the payment schedule that would have applied in the absence of a Disability (and other
Participant rights that are tied to a Disability, such as vesting, shall not be affected by the prior sentence). 
 “EFFECTIVE
DATE” shall have the meaning ascribed to such term in Section 1.4 hereof. 
 “EMPLOYEE” means any individual
whom the Employer treats as a common law employee for payroll tax purposes, either within or outside the United States. 

“EMPLOYER” means the Company and the Subsidiaries. 

“EXCHANGE ACT” means the Securities Exchange Act of 1934, as now in effect and as hereafter amended from time to time. Any
reference to a particular section of the Exchange Act includes any applicable regulations promulgated under that section. All citations to sections of the Exchange Act or rules thereunder are to such sections or rules as they may from time to time
be amended or renumbered. 

  
 4 

 “FAIR MARKET VALUE” of a share of Common Stock of the Company means, as of
the date in question, 
 (a) if the Common Stock is listed for trading on the NASDAQ, the closing sale price of a share of Common Stock on
such date, as reported by the NASDAQ or such other source as the Committee deems reliable, or if no such reported sale of the Common Stock shall have occurred on such date, on the last day prior to such date on which there was such a reported sale;

 (b) if the Common Stock is listed for trading on the NYSE, the closing sale price of a share of Common Stock on such date, as reported by
the NYSE or such other source as the Committee deems reliable, or if no such reported sale of the Common Stock shall have occurred on such date, on the last day prior to such date on which there was such a reported sale; 

(c) if the Common Stock is not listed for trading on the NASDAQ or the NYSE but is listed for trading on another national securities exchange,
the closing sale price of a share of Common Stock on such date as reported on such exchange, or if no such reported sale of the Common Stock shall have occurred on such date, on the last day prior to such date on which there was such a reported
sale; 
 (d) if the Common Stock is not listed for trading on a national securities exchange but nevertheless is publicly traded and reported
(through the OTC Bulletin Board or otherwise), the closing sale price of a share of Common Stock on such date, or if no such reported sale of the Common Stock shall have occurred on such date, on the last day prior to such date on which there was
such a reported sale; or 
 (e) if the Common Stock is not publicly traded and reported, the fair market value as established in good faith
by the Committee or the Board. 
 For purposes of subsection (c) above, if the Common Stock is not traded on the NASDAQ or the NYSE but
is traded on more than one other securities exchange on the given date, then the largest exchange on which the Common Stock is traded shall be referenced to determine Fair Market Value. 

Notwithstanding the foregoing but subject to the next paragraph, if the Committee determines in its discretion that an alternative definition
of Fair Market Value should be used in connection with the grant, exercise, vesting, settlement or payout of any Award, it may specify such alternative definition in the Agreement applicable to the Award. Such alternative definition may include a
price that is based on the opening, actual, high, low, or average selling prices of a share of Common Stock on the NASDAQ or other securities exchange on the given date, the trading date preceding the given date, the trading date next succeeding the
given date, or an average of trading days. 
 Notwithstanding the foregoing, (i) in the case of an Option or SAR, Fair Market Value
shall be determined in accordance with a definition of fair market value that permits the Award to be exempt from Code section 409A; and (ii) in the case of an Option that is intended to qualify as an ISO under Code section 422, Fair Market
Value shall be determined by the Committee in accordance with the requirements of Code section 422. 

  
 5 

 “INCENTIVE STOCK OPTION” or “ISO” means an Option that is
designated as an “incentive stock option” and intended to meet the requirements of Code section 422. 
 “INSIDER”
shall mean an individual who is, on the relevant date, subject to the reporting requirements of Exchange Act section 16(a). 

“NASDAQ” means The NASDAQ Stock Market LLC or its successor. 

“NON-EMPLOYEE” means any consultant or advisor, other than an Employee or Non-Employee Director, who provides bona fide services to the Employer not in connection with the offer or sale of securities in a capital raising transaction. 

“NON -EMPLOYEE DIRECTOR” means any individual who is a member of the Board and who is not also employed by the Employer. 

“NONQUALIFIED STOCK OPTION” or “NQSO” means any Option that is not designated as an “incentive stock
option” or that otherwise does not meet the requirements of Code section 422. 
 “NYSE” means the New York Stock
Exchange or its successor. 
 “OPTION” means an Award granted under Article 5 that is either an Incentive Stock Option or a
Nonqualified Stock Option. An Option shall be designated as either an Incentive Stock Option or a Nonqualified Stock Option, and in the absence of such designation, shall be treated as a Nonqualified Stock Option. 

“OPTION EXERCISE PRICE” means the price at which a share of Common Stock may be purchased by a Participant pursuant to the
exercise of an Option. 
 “OTHER AWARD” means any form of equity-based or equity-related award, other than an Option, a
Stock Appreciation Right, Restricted Stock, a Restricted Stock Unit, a Performance Share, a Performance Unit or an Annual Incentive Award, that is granted pursuant to Article 9. 

“PARTICIPANT” means an Employee, Non-Employee or
Non-Employee Director who is eligible to receive or has received an Award under this Plan. 

“PERFORMANCE PERIOD” shall have the meaning ascribed to such term in Section 8.3. 

“PERFORMANCE SHARE” means an Award under Article 8 of the Plan that is valued by reference to a share of Common Stock, which
value may be paid to the Participant by delivery of cash or other property as the Committee shall determine upon achievement of such performance objectives during the relevant Performance Period as the Committee shall establish at the time of such
Award or thereafter. 

  
 6 

 “PERFORMANCE UNIT” means an Award under Article 8 of the Plan that has a
value set by the Committee (or that is determined by reference to a valuation formula specified by the Committee), which value may be paid to the Participant by delivery of cash or other property as the Committee shall determine upon achievement of
such performance objectives during the relevant Performance Period as the Committee shall establish at the time of such Award or thereafter. 

“PERMITTED TRANSFEREE” means any members of the immediate family of the Participant (i.e., spouse, children, and
grandchildren), any trusts for the benefit of such family members or any partnerships whose only partners are such family members. 

“PERSON” means any “person” or “group” as those terms are used in Exchange Act Sections 13(d) and 14(d).

 “PLAN” means the Aaron’s, Inc. Amended and Restated 2015 Equity and Incentive Plan, 2020 Amendment and Restatement
set forth in this document and as it may be amended from time to time. 
 “PRIOR PLAN” means the Aaron’s, Inc. 2001
Stock Option and Incentive Award Plan, as it may be amended from time to time. 
 “RESTRICTED STOCK” means an Award of
shares of Common Stock under Article 7 of the Plan, which shares are issued with such restrictions as the Committee, in its sole discretion, may impose. 

“RESTRICTED STOCK UNIT” or “RSU” means an Award under Article 7 of the Plan that is valued by reference to a
share of Common Stock, which value may be paid to the Participant by delivery of cash or other property as the Committee shall determine and that has such restrictions as the Committee, in its sole discretion, may impose. 

“RESTRICTION PERIOD” means the period commencing on the date an Award of Restricted Stock or an RSU is granted and ending on
such date as the Committee shall determine, during which time the Award is subject to forfeiture as provided in the Agreement. 

“SHARE POOL” shall have the meaning ascribed to such term in in Section 4.1. 

“STOCK APPRECIATION RIGHT” or “SAR” means an Award granted under Article 6 that provides for delivery of
cash or other property as the Committee shall determine with a value equal to the excess of the Fair Market Value of a share of Common Stock on the day the Stock Appreciation Right is exercised over the specified exercise price. 

“SUBSIDIARY” means a corporation or other entity of which outstanding shares or ownership interests representing fifty
percent (50%) or more of the combined voting power of such corporation or other entity entitled to elect the management thereof are owned directly or indirectly by the Company. With respect to all purposes of the Plan, including but not limited to,
the establishment, amendment, termination, operation and administration of the Plan, the Company and the Committee shall be authorized to act on behalf of all other entities included within the definition of “Subsidiary.” 

  
 7 

 ARTICLE 3. ADMINISTRATION; POWERS OF THE COMMITTEE 

3.1 General. This Plan shall be administered by the Committee. 

3.2 Authority of the Committee. 

a. Subject to the provisions of the Plan, the Committee shall have the full and discretionary authority to (i) select the persons who are
eligible to receive Awards under the Plan, (ii) determine the form and substance of Awards made under the Plan and the conditions and restrictions, if any, subject to which such Awards will be made, (iii) modify the terms of Awards made
under the Plan, (iv) interpret, construe and administer the Plan and Awards granted thereunder, (v) make any adjustments necessary or desirable in connection with Awards made under the Plan to eligible Participants located outside the
United States, and (vi) adopt, amend, or rescind such rules and regulations, and make such other determinations, for carrying out the Plan as it may deem appropriate. 

b. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Agreement in the manner and to
the extent it shall deem desirable to carry it into effect. 
 c. Decisions of the Committee on all matters relating to the Plan shall be in
the Committee’s sole discretion and shall be conclusive, final and binding on all parties. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with applicable
federal and state laws and rules and regulations promulgated pursuant thereto. 
 d. In the event the Company shall assume outstanding equity
awards or the right or obligation to make such awards in connection with the acquisition of another corporation or business entity, the Committee may, in its discretion, make such adjustments in the terms of Awards as it shall deem equitable and
appropriate to prevent dilution or enlargement of benefits intended to be made under the Plan. 
 e. In making any determination or in taking
or not taking any action under the Plan, the Committee may obtain and may relay on the advice of experts, including but not limited to employees of the Company and professional advisors. 

3.3 Rules for Foreign Jurisdictions. Notwithstanding anything in the Plan to the contrary, the Committee may, in its sole discretion,
(i) amend or vary the terms of the Plan in order to conform such terms with the requirements of each non-U.S. jurisdiction where a Participant works or resides or to meet the goals and objectives of the
Plan; (ii) establish one or more sub-plans for these purposes; and (iii) establish administrative rules and procedures to facilitate the operation of the Plan in such
non-U.S. jurisdictions. For purposes of clarity, the terms and conditions contained herein that are subject to variation in a non-U.S. jurisdiction shall be reflected in
a written addendum to the Plan with respect to each Participant or group of Participants affected by such non-U.S. jurisdiction. 

  
 8 

 3.4 Delegation of Authority. The Committee may, in its discretion, at any time and
from time to time, delegate to one or more of its members such of its authority as it deems appropriate (provided that any such delegation shall be to at least two members of the Committee with respect to Awards to Insiders). The Committee may, at
any time and from time to time, delegate to one or more other members of the Board such of its authority as it deems appropriate. To the extent permitted by law and applicable stock exchange rules, the Committee may also delegate its authority to
one or more persons who are not members of the Board, except that no such delegation will be permitted with respect to Insiders. 
 3.5
Agreements. Each Award granted under the Plan shall be evidenced by an Agreement. Each Agreement shall be subject to and incorporate, by reference or otherwise, the applicable terms and conditions of the Plan, and any other terms and
conditions, not inconsistent with the Plan, as may be imposed by the Committee, including without limitation, provisions related to the consequences of termination of employment. Each Agreement shall specify the period over which the Award will vest
or with respect to which any risk of substantial forfeiture will lapse. A copy of the Agreement shall be provided to the Participant, and the Committee may, but need not, require that the Participant sign (or otherwise acknowledge receipt of) a copy
of the Agreement or a copy of a notice of grant. Each Participant may be required, as a condition to receiving an Award under this Plan, to enter into an agreement with the Company containing such non-compete,
confidentiality, and/or non-solicitation provisions as the Committee may adopt and approve from time to time (as so modified or amended, the “Non-Compete
Agreement”). The provisions of the Non-Compete Agreement may also be included in, or incorporated by reference in, the Agreement. 

3.6 Indemnification. No member or former member of the Committee or the Board or person to whom the Committee has delegated
responsibility under the Plan shall be liable for any action or determination made in good faith with respect to the Plan or any Award granted under it. The Company shall indemnify and hold harmless each member and former member of the Committee and
the Board against all cost or expense (including counsel fees and expenses) or liability (including any sum paid in settlement of a claim with the approval of the Board) arising out of any act or omission to act in connection with the Plan, unless
arising out of such member’s or former member’s own willful misconduct, fraud, bad faith or as expressly prohibited by statute. Such indemnification shall be in addition (without duplication) to any rights to indemnification or insurance
the member or former member may have as a director or under the by-laws of the Company or otherwise. 

ARTICLE 4. SHARES AVAILABLE UNDER THE PLAN 

4.1 Number of Shares. Subject to adjustment as provided in this Section 4.1 and in Section 4.3, the aggregate number of
shares of Common Stock that are available for issuance pursuant to Awards granted under the Plan is 8,000,000 shares of Common Stock (the “Share Pool”). Effective on the Merger, shares of Common Stock equal to the number of shares
of Aaron’s common stock available for issuance under the Plan immediately before the Merger adjusted in the manner described by Section 4.3, are available for issuance under the Plan. All of the Share Pool may, but is not required to, be
issued pursuant to Incentive Stock Options. If Awards are granted in substitution or assumption of awards of an entity acquired, by merger or otherwise, by the Company (or any Subsidiary), to the extent such grant shall not be inconsistent with the
terms, limitations and conditions of Code section 422, Exchange Act Rule 16b-3 or applicable NASDAQ or NYSE rules, the number of shares subject to such substitute or assumed Awards shall not increase or
decrease the Share Pool. 

  
 9 

 The shares issued pursuant to Awards under the Plan shall be made available from shares
currently authorized but unissued or shares currently held (or subsequently acquired) by the Company as treasury shares, including shares purchased in the open market or in private transactions. 

No further grants shall be made under the Prior Plan after May 6, 2015 (the “Record Date”). 

The following rules shall apply for purposes of the determination of the number of shares of Common Stock available for grants of Awards under
the Plan: 
 a. Each Option shall be counted as one share subject to an Award and deducted from the Share Pool. 

b. Each share of Restricted Stock, each Restricted Stock Unit that may be settled in shares of Common Stock, and each Other Award that may be
settled in shares of Common Stock shall be counted as one share subject to an Award and deducted from the Share Pool. Restricted Stock Units and Other Awards that may not be settled in shares of Common Stock shall not result in a deduction from the
Share Pool. 
 c. Each Performance Share that may be settled in shares of Common Stock shall be counted as one share subject to an Award,
based on the number of shares that would be paid under the Performance Share for achievement of target performance, and deducted from the Share Pool. Each Annual Incentive Award and each Performance Unit that may be settled in shares of Common Stock
shall be counted as a number of shares subject to an Award, based on the number of shares that would be paid under the Annual Incentive Award or Performance Unit for achievement of target performance, with the number determined by dividing the value
of the Annual Incentive Award or Performance Unit at the time of grant by the Fair Market Value of a share of Common Stock at the time of grant, and this number shall be deducted from the Share Pool. In the event that the Award (of Performance
Shares, Performance Units or an Annual Incentive Award) is later settled based on above-target performance, the additional number of shares of Common Stock corresponding to the above-target performance, calculated pursuant to the applicable
methodology specified above, shall be deducted from the Share Pool at the time of such settlement; in the event that the Award is later settled based on below-target performance, the difference between the number of shares of Common Stock awarded
based on the below-target performance and the number previously deducted from the Share Pool based on the target performance, calculated pursuant to the applicable methodology specified above, shall be added back to the Share Pool. Annual Incentive
Awards, Performance Shares and Performance Units that may not be settled in shares of Common Stock shall not result in a deduction from the Share Pool. 

d. Each Stock Appreciation Right that may be settled in shares of Common Stock shall be counted as one share subject to an Award and deducted
from the Share Pool. Stock Appreciation Rights that may not be settled in shares of Common Stock shall not result in a reduction from the Share Pool. 

  
 10 

 e. If, for any reason, any shares subject to an Award under the Plan are not issued or are
returned to the Company, for reasons including, but not limited to, a forfeiture of Restricted Stock or a Restricted Stock Unit, or the termination, expiration or cancellation of an Option, Stock Appreciation Right, Restricted Stock, Restricted
Stock Unit, Performance Share, Performance Unit, or Other Award, or settlement of any Award in cash rather than shares, such shares shall again be available for Awards under the Plan and, if originally deducted from the Share Pool, shall be added
back to the Share Pool. 
 f. If, for any reason, after the Record Date any shares subject to an award under the Prior Plan are not issued or
are returned to the Company, for reasons including, but not limited to, a forfeiture of restricted stock or a restricted stock unit, or the termination, expiration or cancellation of an option, stock appreciation right, restricted stock, restricted
stock unit, performance share, performance unit, or other award, or settlement of any award in cash rather than shares, such shares shall be available for Awards under the Plan and shall be added to the Share Pool. 

g. Notwithstanding anything to contrary contained herein, if the Option Exercise Price, purchase price and/or tax withholding obligation under
an Award is satisfied by the Company retaining shares or by the Participant tendering shares (either by actual delivery or attestation), the number of shares so retained or tendered shall be deemed delivered for purposes of determining the Share
Pool and shall not be available for further Awards under the Plan. To the extent an SAR that may be settled in shares of Common Stock is, in fact, settled in shares of Common Stock, the gross number of shares subject to such Stock Appreciation Right
shall be deemed delivered for purposes of determining the Share Pool and shall not be available for further Awards under the Plan. Similarly, after the Record Date, if the option exercise price, purchase price and/or tax withholding obligation under
a Prior Plan award is satisfied by the Company retaining shares or by the holder tendering shares (either by actual delivery or attestation), the number of shares so retained or tendered shall be deemed delivered for purposes of determining the
Share Pool and shall not be available for further Awards under the Plan. Shares reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Options or, after the Record Date, options under any Prior Plan, shall
not be added back to the Share Pool. 
 4.2 Individual Limits. Subject to adjustment as provided in Section 4.3, the maximum
number of Options and Stock Appreciation Rights that, in the aggregate, may be granted in any one fiscal year of the Company to any one Participant shall be one million (1,000,000). The multipliers specified in subsections (a) through (g) of
Section 4.1 shall not apply for purposes of applying the foregoing individual limitation of this Section 4.2. 
 4.3 Adjustment
of Shares. If any change in corporate capitalization, such as a stock split, reverse stock split, stock dividend, or any corporate transaction such as a reorganization, reclassification, merger or consolidation or separation, including a spin-off, of the Company or sale or other disposition by the Company of all or a portion of its assets, any other change in the Company’s corporate structure, or any distribution to shareholders (other than an
ordinary cash dividend) results in the outstanding shares of Common Stock, or any securities exchanged therefor or received in their place, being exchanged for a different number or class of shares or other

  
 11 

 
securities of the Company, or for shares of stock or other securities of any other corporation (or new, different or additional shares or other securities of the Company or of any other
corporation being received by the holders of outstanding shares of Common Stock), or a material change in the value of the outstanding shares of Common Stock as a result of the change, transaction or distribution, then the Committee shall make
equitable adjustments, as it determines are necessary and appropriate to prevent the enlargement or dilution of benefits intended to be made available under the Plan, in: 

a. the number and class of stock or other securities that comprise the Share Pool as set forth in Section 4.1, including, without
limitation, with respect to Incentive Stock Options; 
 b. the limitations on the aggregate number of shares of Common Stock that may be
awarded to any one Participant under various Awards as set forth in Section 4.2; 
 c. the number and class of stock or other securities
subject to outstanding Awards, and which have not been issued or transferred under an outstanding Award; 
 d. the Option Exercise Price
under outstanding Options, the exercise price under outstanding Stock Appreciation Rights, and the number of shares of Common Stock to be transferred in settlement of outstanding Awards; and 

e. the terms, conditions or restrictions of any Award and Agreement, including but not limited to the price payable for the acquisition of
shares of Common Stock. 
 It is intended that, if possible, any adjustment contemplated above shall be made in a manner that satisfies
applicable legal requirements as well as applicable requirements with respect to taxation (including, without limitation and as applicable in the circumstances, Code section 424, and Code section 409A) and accounting (so as to not trigger any charge
to earnings with respect to such adjustment). 
 Without limiting the generality of the above, any good faith determination by the Committee
as to whether an adjustment is required in the circumstances and the extent and nature of any such adjustment shall be final, conclusive and binding on all persons. 

ARTICLE 5. STOCK OPTIONS 

5.1 Grant of Options. Subject to the terms and provisions of the Plan, the Committee may from time to time grant Options to eligible
Participants. The Committee shall have sole discretion in determining the number of shares subject to Options granted to each Participant. The Committee may grant a Participant ISOs, NQSOs or a combination thereof, and may vary such Awards among
Participants; provided that the Committee may grant Incentive Stock Options only to individuals who are employees (within the meaning of Code section 3401(c)) of the Company or its subsidiaries (as defined for this purpose in Code section 424(f)).
Notwithstanding anything in this Article 5 to the contrary, except for Options that are specifically designated as intended to be subject to Code section 409A, the Committee may only grant Options to individuals who provide direct services on the
date of grant of the Options to the Company or another entity in a chain of entities in which the Company or another such entity has a controlling interest (within the meaning of Treasury Regulation section l
.409A-1(b)(5)(iii)(e)) in each entity in the chain. 

  
 12 

 5.2 Agreement. Each Option grant shall be evidenced by an Agreement that shall
specify the Option Exercise Price, the duration of the Option, the number of shares of Common Stock to which the Option pertains, the conditions upon which the Option shall become vested and exercisable and such other provisions as the Committee
shall determine. The Option Agreement shall further specify whether the Award is intended to be an ISO or an NQSO. Any portion of an Option that is not designated in the Agreement as an ISO or otherwise fails or is not qualified as an ISO (even if
designated as an ISO) shall be an NQSO. Dividend equivalents shall not be paid with respect to Options. 
 5.3 Option Exercise Price.
The per share Option Exercise Price for each Option shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date the Option is granted. Notwithstanding the foregoing, an Option may be granted with
an Option Exercise Price lower than set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another Option in a manner satisfying the provisions of Code section 424(a) relating to a corporate
merger, consolidation, acquisition of property or stock, separation, reorganization, spinoff, or liquidation; provided that the Committee determines that such Option Exercise Price is appropriate to preserve the economic benefit of the replaced
award and will not impair the exemption of the Option from Code section 409A (unless the Committee clearly and expressly foregoes such exemption at the time the Option is granted). 

5.4 Duration of Options. Each Option shall expire at such time as the Committee shall determine at the time of grant; provided, however,
that no Option shall be exercisable later than the tenth (10th) anniversary of its grant date. If an Agreement does not specify an expiration date, the Option’s expiration date shall be the
tenth (10th) anniversary of its grant date. 
 5.5 Exercise of Options. Options
shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall specify, including conditions related to the employment of the Participant with the Employer or provision of services by the Participant to
the Employer, which need not be the same for each grant or for each Participant. The Committee may provide in the Agreement for automatic exercise on a certain date and/or for accelerated vesting and other rights upon the occurrence of events
specified in the Agreement. 
 5.6 Payment. Options shall be exercised, in whole or in part, by the delivery of a written or
electronic notice of exercise to the Company or its designated representative in the form prescribed by the Company, setting forth the number of shares of Common Stock with respect to which the Option is to be exercised and satisfying any
requirements that the Committee may apply from time to time. Full payment of the Option Exercise Price for such shares (less any amount previously paid by the Participant to acquire the Option) must be made on or prior to the Payment Date, as
defined below. The Option Exercise Price shall be paid to the Company in United States dollars either: (a) in cash, (b) by check, bank draft, money order or other cash equivalent approved by the Committee, (c) unless not permitted by
the Committee, by tendering previously acquired shares of Common Stock (or delivering a certification or attestation of ownership of such shares) having an aggregate Fair Market Value at the time of exercise equal to the total Option Exercise

  
 13 

 
Price (provided that the tendered shares must have been held by the Participant for any period required by the Committee), (d) unless not permitted by the Committee, by cashless exercise as
permitted under Federal Reserve Board’s Regulation T, subject to applicable securities law restrictions, (e) by any other means which the Committee determines to be consistent with the Plan’s purpose and applicable law, including a
net exercise; or (f) by a combination of the foregoing. “Payment Date” shall mean the date on which a sale transaction in connection with a cashless exercise (whether or not payment is actually made pursuant to a cashless
exercise) would have settled in connection with the Option exercise. No certificate or cash representing a share of Common Stock shall be delivered until the full Option Exercise Price has been paid. 

5.7 Special Rules for ISOs. The following rules apply notwithstanding any other terms of the Plan. 

a. No ISOs may be granted under the Plan after the tenth (10th) anniversary of the date the Plan was approved by the Board. 

b. In no event shall any Participant who owns (within the meaning of Code section 424(d)) stock of the Company possessing more than ten percent
(10%) of the total combined voting power of all classes of stock of the Company or any “parent” or “subsidiary” (within the meaning of Code section 424(e) or (f), respectively) be eligible to receive an ISO (i) at an Option
Exercise Price less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on the date the ISO is granted, or (ii) that is exercisable later than the fifth (5th) anniversary date of its grant date. 

c. The aggregate Fair Market Value of shares of Common Stock with respect to which ISOs (within the meaning of Code section 422) granted to a
Participant are first exercisable in any calendar year under the Plan and all other incentive stock option plans of the Employer shall not exceed One Hundred Thousand Dollars ($100,000). For this purpose, Fair Market Value shall be determined with
respect to a particular ISO on the date on which such ISO is granted. In the event that this One Hundred Thousand Dollar ($100,000) limit is exceeded with respect to a Participant, then ISOs granted under this Plan to such Participant shall, to the
extent and in the order required by Treasury Regulations under Code section 422, automatically become NQSOs granted under this Plan. 
 d.
Solely for purposes of determining the limit on ISOs that may be granted under the Plan, the provisions of Section 4.1 that replenish the Share Pool shall only be applied to the extent permitted by Code section 422 and the regulations
promulgated thereunder. 
 ARTICLE 6. STOCK APPRECIATION RIGHTS 

6.1 Grant of SARs. Subject to the terms and provisions of the Plan, the Committee may grant SARs to Participants in such amounts and
upon such terms, and at any time and from time to time, as the Committee shall determine. A Stock Appreciation Right shall entitle the holder, within the specified period (which may not exceed 10 years), to exercise the SAR and receive in exchange
therefor a payment having an aggregate value equal to the amount by which the Fair Market Value of a share of Common Stock on the exercise date exceeds the specified exercise price, times the number of shares with respect to which the SAR is
exercised. The 

  
 14 

 
Committee may provide in the Agreement for automatic exercise on a certain date, for payment of the proceeds on a certain date, and/or for accelerated vesting and other rights upon the occurrence
of events specified in the Agreement. Notwithstanding anything in this Article 6 to the contrary, except for SARs that are specifically designated as intended to be subject to Code section 409A, the Committee may only grant SARs to individuals who
provide direct services on the date of grant of the SARs to the Company or another entity in a chain of entities in which the Company or another such entity has a controlling interest (within the meaning of Treasury Regulation section 1.409A-l(b)(5)(iii)(e)) in each entity in the chain. 
 6.2 Agreement. Each SAR grant shall be
evidenced by an Agreement that shall specify the exercise price, the duration of the SAR, the number of shares of Common Stock to which the SAR pertains, the conditions upon which the SAR shall become vested and exercisable and such other provisions
as the Committee shall determine. Dividend equivalents shall not be paid with respect to SARs. 
 6.3 Duration of SARs. Each SAR shall
expire at such time as the Committee shall determine at the time of grant; provided, however, that no SAR shall be exercisable later than the tenth (10th) anniversary of its grant date. If an
Agreement does not specify an expiration date, the SAR’s expiration date shall be the tenth (10th) anniversary of its grant date. 

6.4 Payment. The Committee shall have sole discretion to determine in each Agreement whether the payment with respect to the exercise of
a Stock Appreciation Right will be in the form of all cash, all shares of Common Stock, or any combination thereof. Unless and to the extent the Committee specifies otherwise, such payment will be in the form of shares of Common Stock. If payment is
to be made in shares, the number of shares shall be determined based on the Fair Market Value of a share on the date of exercise. The Committee shall have sole discretion to determine and set forth in the Agreement the timing of any payment made in
cash or shares, or a combination thereof, upon exercise of SARs. 
 6.5 Exercise Price. The exercise price for each Stock Appreciation
Right shall be determined by the Committee and shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date the SAR is granted. Notwithstanding the foregoing, an SAR may be granted with an
exercise price lower than set forth in the preceding sentence if such SAR is granted pursuant to an assumption or substitution for another SAR in a manner satisfying the provisions of Code section 424(a) relating to a corporate merger,
consolidation, acquisition of property or stock, separation, reorganization, or liquidation; provided that the Committee determines that such SAR exercise price is appropriate to preserve the economic benefit of the replaced award and will not
impair the exemption of the SAR from Code section 409A (unless the Committee clearly and expressly foregoes such exemption at the time the SAR is granted). 

6.6 Exercise of SARs. SARs shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall
specify, including conditions related to the employment of the Participant with the Employer or provision of services by the Participant to the Employer, which need not be the same for each grant or for each Participant. The Committee may provide in
the Agreement for automatic accelerated vesting and other rights upon the occurrence of events specified in the Agreement. 

  
 15 

 ARTICLE 7. RESTRICTED STOCK AND RESTRICTED STOCK UNITS 

7.1 Grant of Restricted Stock and Restricted Stock Units. Subject to provisions of the Plan, the Committee may from time to time grant
Awards of Restricted Stock and RSUs to Participants. Awards of Restricted Stock and RSUs may be made either alone or in addition to or in tandem with other Awards granted under the Plan. 

7.2 Agreement. The Restricted Stock or RSU Agreement shall set forth the terms of the Award, as determined by the Committee, including,
without limitation, the number of shares of Restricted Stock or the number of RSUs granted; the purchase price, if any, to be paid for such Restricted Stock or RSUs, which may be equal to or less than Fair Market Value of a share and may be zero,
subject to such minimum consideration as may be required by applicable law; any restrictions applicable to the Restricted Stock or RSU such as continued service or achievement of performance objectives; the length of the Restriction Period, if any,
and any circumstances that will shorten or terminate the Restriction Period; and rights of the Participant to vote or receive dividends or dividend equivalents with respect to the shares during the Restriction Period. The Restriction Period may be
of any duration and the Agreement may provide for lapse of the Restriction Period in monthly or longer installments over the course of the Restriction Period, as determined by the Committee. The Committee shall have sole discretion to determine and
specify in each RSU Agreement whether the RSUs will be settled in the form of all cash, all shares of Common Stock, or any combination thereof. Unless and to the extent the Committee specifies otherwise, such settlement will be in the form of shares
of Common Stock. 
 7.3 Certificates. Upon an Award of Restricted Stock to a Participant, shares of restricted Common Stock shall be
registered in the Participant’s name. Certificates, if issued, may either (i) be held in custody by the Company until the Restriction Period expires or until restrictions thereon otherwise lapse, and/or (ii) be issued to the
Participant and registered in the name of the Participant, bearing an appropriate restrictive legend and remaining subject to appropriate stop-transfer orders. If required by the Committee, the Participant shall deliver to the Company one or more
stock powers endorsed in blank relating to the Restricted Stock. Upon settlement of an RSU in shares, and, with respect to Restricted Stock, if and when the Restriction Period expires without a prior forfeiture of the Restricted Stock subject to
such Restriction Period, unrestricted certificates for such shares shall be delivered to the Participant or registered in the Participant’s name on the Company’s or transfer agent’s records; provided, however, that the Committee may
cause such legend or legends to be placed on any such certificates as it may deem advisable under the terms of the Plan and the rules, regulations and other requirements of the Securities and Exchange Commission and any applicable federal or state
law. Concurrently with the settlement of RSUs by the delivery of shares and with the lapse of any risk of forfeiture applicable to the Restricted Stock, the Participant shall be required to pay to the Company an amount necessary to satisfy any
applicable federal, state and local tax requirements as set out in Article 15 below. 
 7.4 Dividends and Other Distributions. Except
as provided in this Article 7 or in the applicable Agreement, a Participant who receives a Restricted Stock Award shall have (during and after the Restriction Period), with respect to such Restricted Stock Award, all of the rights of a shareholder
of the Company, including the right to vote the shares and the right to receive dividends and other distributions to the extent, if any, such shares possess such rights; provided, however, the Committee may require that any dividends on such shares
of Restricted Stock (during 

  
 16 

 
the Restriction Period) be automatically deferred and reinvested in additional Restricted Stock subject to the same restrictions as the underlying Award, or may require that dividends and other
distributions on Restricted Stock (during the Restriction Period) be paid to the Company for the account of the Participant and held pending and subject to the same restrictions on vesting as the underlying Award; provided, however that to the
extent that any dividends are deferred, reinvested or otherwise not paid when such dividends would otherwise normally be paid (i) all terms and conditions for such delayed payment shall be included in the Agreement, and (ii) such deferral,
reinvestment or delay in payment of the dividends shall only be allowed to the extent it complies with, or is exempt from, the requirements of Code section 409A. The Committee shall determine whether interest shall be paid on such amounts, the rate
of any such interest, and the other terms applicable to such amounts (again, provided that all such terms shall, to the extent required, comply with Code section 409A). A Participant receiving a Restricted Stock Unit Award shall not possess voting
rights and shall accrue dividend equivalents on such Units only to the extent provided in the Agreement relating to the Award; provided, however, that rights to dividend equivalents shall only be allowed to the extent they comply with, or are exempt
from, Code section 409A. The Committee shall require that any such dividend equivalents be subject to the same restrictions on vesting and payment as the underlying Award. 

ARTICLE 8. PERFORMANCE SHARES AND UNITS 

8.1 Grant of Performance Shares and Performance Units. The Committee may grant Performance Shares and Performance Units to Participants
in such amounts and upon such terms, and at any time and from time to time, as the Committee shall determine. 
 8.2 Agreement. The
Performance Share or Performance Unit Agreement shall set forth the terms of the Award, as determined by the Committee, including, without limitation, the number of Performance Shares or Performance Units granted; the purchase price, if any, to be
paid for such Performance Shares or Performance Units, which may be equal to or less than Fair Market Value of a share and may be zero, subject to such minimum consideration as may be required by applicable law; the performance objectives applicable
to the Performance Shares or Performance Units; and any additional restrictions applicable to the Performance Shares or Performance Units such as continued service. Unless provided otherwise at the time of grant, each Performance Share or
Performance Unit shall have a Performance Period of at least one year except that, if any Award is made at the time of the Participant’s commencement of employment with the Employer or on the occasion of a promotion, then the Performance Period
may be less than one year. The Committee shall have sole discretion to determine and specify in each Performance Shares or Performance Units Agreement whether the Award will be settled in the form of all cash, all shares of Common Stock, or any
combination thereof. Unless and to the extent the Committee specifics otherwise, such settlement will be in the form of shares of Common Stock. Any such shares may be granted subject to any restrictions deemed appropriate by the Committee. 

8.3 Value of Performance Shares and Performance Units. Each Performance Unit shall have an initial value that is established by the
Committee at the time of grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a share of Common Stock on the date of grant. In addition to any non-performance terms
applicable to the Award, the Committee shall set performance objectives in its discretion which, depending on the extent to which they are met, will determine the number and/or value of Performance Shares, Performance Units or both, as applicable,
that will be paid out to the Participant. For purposes of this Article 8, the time period during which the performance objectives must be met shall be called a “Performance Period.” 

  
 17 

 8.4 Earning of Performance Shares and Performance Units. Subject to the terms of this
Plan, after the applicable Performance Period has ended, the holder of the Performance Shares or Performance Units shall be entitled to receive a payout of the number and value of Performance Shares or Performance Units, as applicable, earned by the
Participant over the Performance Period, if any, to be determined as a function of the extent to which the corresponding performance objectives have been achieved and any applicable nonperformance terms have been met. 

8.5 Dividends and Other Distributions. A Participant receiving Performance Shares or Performance Units shall not possess voting rights.
A Participant receiving Performance Shares or Performance Units or any other Award that is subject to performance conditions shall accrue dividend equivalents on such Award only to the extent provided in the Agreement relating to the Award;
provided, however, that rights to dividend equivalents shall only be allowed to the extent they comply with, or are exempt from, Code section 409A. Any rights to dividends or dividend equivalents on Performance Shares or Performance Units or any
other Award subject to performance conditions shall be subject to the same restrictions on vesting and payment as the underlying Award. 

ARTICLE 9. OTHER AWARDS 

The Committee shall have the authority to specify the terms and provisions of other forms of equity-based or equity-related awards not
described in Articles 5 through 8 or Article 10 of this Plan that the Committee determines to be consistent with the purpose of the Plan and the interests of the Company (“Other Awards”). Other Awards may include awards of, or the
right to acquire, shares of Common Stock that are not subject to forfeiture or other restrictions, which may be awarded in payment of Non-Employee Director fees, in lieu of cash compensation, in exchange for
cancellation of a compensation right, as a bonus, or upon the attainment of a performance goal, or otherwise. Other Awards may also provide for cash payments based in whole or in part on the value or future value of shares of Common Stock, for the
acquisition or future acquisition of shares of Common Stock, or any combination of the foregoing. Notwithstanding the foregoing, where the value of an Other Award is based on the difference in the value of a share of Common Stock at different points
in time, the grant or exercise price shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the date of grant unless the Other Award is granted in replacement for an award previously granted by an
entity that is assumed by the Company in a business combination, provided that the Committee determines that the Other Award preserves the economic benefit of the replaced award and is either exempt from or in compliance with the requirements of
Code section 409A. 
 ARTICLE 10. ANNUAL INCENTIVE AWARDS 

The Committee may grant Annual Incentive Awards to Participants in such amounts and upon such terms as the Committee shall determine. The
Committee may specify the terms and conditions of Annual Incentive Awards in individual Agreements or through the timely adoption of plan rules or other Annual Incentive Award plan documentation. Unless provided otherwise at

  
 18 

 
the time of grant, Annual Incentive Awards shall have a Performance Period of one fiscal year except that, if any Annual Incentive Award is made at the time of the Participant’s commencement
of employment with the Employer or on the occasion of a promotion, then the Performance Period may be less than one fiscal year. Unless provided otherwise at the time of grant, Annual Incentive Awards (i) shall be payable in cash, and
(ii) are intended to be exempt from Code section 409A as short-term deferrals, and, thus, will be payable no later than 2 1⁄2 months after the end of the
Company’s fiscal year to which the Award relates. 
 ARTICLE 11. PERFORMANCE MEASURES 

11.1 In General. The Committee may, in its discretion, include performance objectives in any Award. The performance objectives may
include, but are not limited to, levels of, or growth or changes in, or other objective specification of performance with respect to one or more of the following performance criteria: 

earnings, earnings before income taxes; earnings before interest and taxes (EBIT); earnings before interest, taxes, depreciation and
amortization (EBITDA); earnings before interest, taxes, depreciation, amortization and rent (EBITDAR); gross margin; operating margin; profit margin; market value added; market share; revenue; revenue growth; return measures (including but not
limited to return on equity, return on shareholders’ equity, return on investment, return on assets, return on net assets, return on capital, return on sales, and return on invested capital); total shareholder return (either in absolute terms
or relative to that of a peer group determined by the Committee); profit; economic profit; capitalized economic profit; operating profit; after-tax profit; net operating profit after tax (NOPAT); pre-tax profit; cash; cash flow measures (including but not limited to operating cash flow; free cash flow; cash flow return; cash flow per share; and free cash flow per share); earnings per share (EPS);
consolidated pre-tax earnings; net earnings; operating earnings; segment income; economic value added; net income; net income from continuing operations available to common shareholders excluding special
items; operating income; adjusted operating income; assets; sales; net sales; sales volume; sales growth; net sales growth; comparable store sales; sales per square foot; inventory turnover; inventory turnover ratio; productivity ratios; number of
active stores/sites (including but not limited to Company-owned stores, franchised stores, and/or retail or merchant stores at which the Company has entered into
lease-to-own arrangements during a specified time period); number of customers; invoice volume; debt/capital ratio; return on total capital; cost; unit cost; cost
control; expense targets or ratios, charge off levels; operating efficiency; operating expenses; customer satisfaction; improvement in or attainment of expense levels; working capital; working capital targets; improvement in or attainment of working
capital levels; debt; debt to equity ratio; debt reduction; capital targets; capital expenditures; price/earnings growth ratio; acquisitions, dispositions, projects or other specific events, transactions or strategic milestones; the Company’s
common stock price (and stock price appreciation, either in absolute terms or in relationship to the appreciation among members of a peer group determined by the Committee); and book value per share. 

  
 19 

 All criteria may be measured on a Generally Accepted Accounting Principles
(“GAAP”) basis, adjusted GAAP basis, or non-GAAP basis. The Committee may provide for a threshold level of performance below which no amount of compensation will be paid, and it may provide for the payment of differing amounts of
compensation for different levels of performance. The performance objective for an Award may be described in terms of Company-wide objectives or objectives that are related to a specific division, subsidiary, Employer, department, region, or
function in which the participant is employed or as some combination of these (as alternatives or otherwise). A performance objective may be measured on an absolute basis or relative to a pre-established
target, results for a previous year, the performance of other corporations, or a stock market or other index. If the Committee specifies more than one individual performance objective for a particular Award, the Committee shall also specify, in
writing, whether one, all or some other number of such objectives must be attained. 
 The Committee may specify such other conditions and
criteria as it chooses, and may specify that it can us its negative discretion to decrease the amount that would otherwise be payable under an Award based on the attainment or failure to attain such other conditions and criteria. 

11.2 Determinations of Performance. For each Award that has been made subject to a performance objective, within ninety (90) days
following the end of each Performance Period, the Committee shall determine whether the performance objective for such Performance Period has been satisfied. When applicable, prior to paying out an Award, the Committee shall also determine whether
any performance objective or other conditions or criteria specified to guide the exercise of its negative discretion were satisfied, and thereby make a final determination with respect to the Award. If a performance objective applicable for a
Performance Period is not achieved, the Committee in its sole discretion may pay all or a portion of that Award based on such criteria as the Committee deems appropriate, including without limitation individual performance, Company-wide performance
or the performance of the specific division, subsidiary, Employer, department, region, or function employing the Participant. 
 11.3
Adjustments and Exclusions. In determining whether any performance objective has been satisfied, the Committee may include or exclude the effect of any or all extraordinary items and/or other items that are unusual or non-recurring, including but not limited to (i) charges, costs, benefits, gains or income associated with reorganizations or restructurings of the Employer, discontinued operations, goodwill, other intangible
assets, long-lived assets (non-cash), real estate strategy (e.g., costs related to lease terminations or facility closure obligations), litigation or the resolution of litigation (e.g., attorneys’ fees,
settlements or judgments), or currency or commodity fluctuations; and (ii) the effects of changes in applicable laws, regulations or accounting principles. In addition, the Committee may adjust any performance objective for a Performance Period
as it deems equitable to recognize unusual or non-recurring events affecting the Employer, changes in tax laws or regulations or accounting procedures, mergers, acquisitions and divestitures, or any other
factors as the Committee may determine. To the extent that a performance objective is based on the price of the Company’s common stock, then in the event of any stock dividend, stock split, combination of shares, recapitalization or other
change in the capital structure of the Company, any merger, consolidation, spin-off, reorganization, partial or complete liquidation or other distribution of assets (other than a normal cash dividend),
issuance of rights or warrants to purchase securities or any other corporate transaction having an effect similar to any of the foregoing, the Committee shall make or provide for such adjustments in such performance objective as the Committee in its
sole discretion may in good faith determine to be equitably required in order to prevent dilution or enlargement of the rights of Participants. 

  
 20 

 ARTICLE 12. CHANGE IN CONTROL 

Unless provided otherwise in an Award Agreement, upon a Change in Control of the Company, each outstanding Option, SAR, Restricted Stock and
RSU shall vest as of or immediately prior to the Change in Control if such Award is not assumed or continued or replaced with an Award that constitutes a Replacement Award. “Replacement Award” means an award (A) of the same
type (e.g., option, RSU, etc.) as the Award, (B) that has a value at least equal to the value of the Award, (C) that relates to publicly traded equity securities 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 or is payable solely in cash, and (D) the other terms and conditions of which are not less favorable to the Participant than the terms and conditions of the
Award (including the provisions that would apply in the event of a subsequent Change in Control). A Replacement Award may be granted only to the extent it does not result in the Award or Replacement Award failing to comply with or be exempt from
Code section 409A. Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation of the Award if the requirements of the two preceding sentences are satisfied. 

Unless provided otherwise in an Award Agreement, if the Participant receives a Replacement Award in connection with a Change in Control, and
the Participant’s employment is terminated without Cause within two years following the consummation of a Change in Control, outstanding Options, SARs, Restricted Stock and RSUs held by such Participant shall vest on the Participant’s
termination date. 
 With respect to Awards that are subject to one or more performance objectives, the Committee may, in its sole
discretion, provide that any such full or prorated Award will be paid under the provisions of this Article 12 prior to when any or all such performance objectives are certified (or without regard to whether they are certified) or may make necessary
and appropriate adjustments in the performance objectives. 
 ARTICLE 13. BENEFICIARY DESIGNATION 

To the extent permitted by the Committee, each Participant may, from time to time, name any beneficiary or beneficiaries (who may be named
contingently or successively) to whom any vested but unpaid Award is to be paid in case of the Participant’s death. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Company,
and will be effective only when filed by the Participant in writing (including electronically if permitted by the Company) with the Company or its designee during the Participant’s lifetime. In the absence of any such designation, benefits
remaining unpaid at the Participant’s death shall be paid to the Participant’s spouse, and if the Participant has no surviving spouse, to the Participant’s estate. 

  
 21 

 ARTICLE 14. DEFERRALS 

The Committee may permit a Participant to defer such Participant’s receipt of the payment of cash or the delivery of shares that would
otherwise be due to such Participant by virtue of the lapse or waiver of restrictions with respect to RSUs and Other Awards, or the satisfaction of any requirements or objectives with respect to Performance Shares and Performance Units. If any such
deferral election is permitted or required, the Committee shall, in its sole discretion, establish rules and procedures for such payment deferrals, which rules and procedures shall comply with Code section 409A. The deferral of Option and SAR gains
is prohibited. 
 ARTICLE 15. WITHHOLDING TAXES 

15.1 Tax Withholding. 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 Federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of or in connection with this Plan or any Award. 

15.2 Share Withholding. Except as otherwise determined by the Committee or provided in the Agreement corresponding to an Award: 

a. With respect to withholding required upon the exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, the
settlement of Restricted Stock Units or Other Awards, upon the achievement of performance objectives related to Annual Incentive Awards, Performance Shares or Performance Units, or upon any other taxable event arising as a result of or in connection
with an Award granted hereunder that is settled in shares of Common Stock, unless other arrangements are made with the consent of the Committee, Participants shall satisfy the withholding requirement by having the Company withhold shares of Common
Stock having a Fair Market Value on the date the tax is to be determined equal to not more than the amount necessary to satisfy the Company’s withholding obligations at the minimum statutory withholding rates (or at any greater rate as may be
permitted under accounting standards without resulting in adverse accounting treatment, as determined by the Committee). All such withholding arrangements shall be subject to any restrictions or limitations that the Committee, in its sole
discretion, deems appropriate. 
 b. A Participant may elect to deliver shares of Common Stock to satisfy, in whole or in part, the
withholding requirement. Such an election must be made on or before the date the amount of tax to be withheld is determined. Once made, the election shall be irrevocable. The Fair Market Value of the shares to be delivered will be determined as of
the date the amount of tax to be withheld is determined. Such delivery must be made subject to the conditions and pursuant to the procedures established by the Committee with respect to the delivery of shares of Common Stock in payment of the
corresponding Option Exercise Price. 
 c. A Participant who is subject to the Company’s securities Insider Trading Policy relative to
disclosure and trading on inside information, at the time the tax withholding requirement arises with respect to his or her Restricted Stock or, to the extent settled in shares of Common Stock, his or her Restricted Stock Units, Performance Shares,
Performance Units, Other Awards, Options or SARs, may elect to satisfy such withholding requirement by delivering payment of the tax required to be withheld in cash or by check on the date on which the amount of tax to be withheld is determined.
Once made, the election shall be irrevocable. 

  
 22 

 ARTICLE 16. AMENDMENT AND TERMINATION 

16.1 Amendment or Termination of Plan. The Board or the Committee may at any time terminate and from time to time amend the Plan in
whole or in part, but no such action shall materially adversely affect any rights or obligations with respect to any Awards previously granted under the Plan, unless such action is required by applicable law or any listing standards applicable to
the Common Stock or the affected Participants consent in writing. To the extent required by Code section 422, other applicable law, and/or any such listing standards, no amendment shall be effective unless approved by the shareholders of the
Company. 
 16.2 Amendment of Agreement. The Committee may, at any time, amend outstanding Agreements in a manner not inconsistent
with the terms of the Plan; provided, however, except as expressly permitted or provided for in the Plan or in the Agreement, if such amendment is materially adverse to the Participant, as determined by the Committee, the amendment shall not be
effective unless and until the Participant consents, in writing, to such amendment. To the extent not inconsistent with the terms of the Plan, the Committee may, at any time, amend an outstanding Agreement in a manner that is not unfavorable to the
Participant (as determined by the Committee) without the consent of such Participant. Except for adjustments as provided in Sections 4.3 or in connection with a Change in Control, the terms of outstanding Awards may not be amended to reduce the
exercise price of outstanding Awards or cancel outstanding Options or SARs with per share exercise prices that are more than the Fair Market Value at the time of such cancellation in exchange for cash, other awards, or Options or SARs with an
exercise price that is less than the exercise price of the original Options or SARs without shareholder approval. 
 16.3 Clawback.
All Awards under the Plan (and payments and shares in settlement of Awards) shall be subject to clawback by the Company to the extent provided in any policy adopted by the Board including any policy adopted to comply with the requirements of
Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 16.4 Cancellation of Awards for Detrimental
Activity. The Committee may provide in the applicable Agreement or a separate policy that if a Participant engages in detrimental activity, as defined in such Agreement or separate policy, the Committee may, notwithstanding any other provision
in this Plan to the contrary, cancel, rescind, suspend, withhold or otherwise restrict or limit any unexpired, unexercised, unpaid or deferred Award as of the first date the Participant engages in the detrimental activity, unless sooner terminated
by operation of another term of this Plan or any other agreement. Without limiting the generality of the foregoing, the Agreement or separate policy may also provide that if the Participant exercises an Option or SAR, receives an RSU, Performance
Share, Performance Unit, Annual Incentive Award or Other Award payout, or receives or vests in shares of Common Stock under an Award at any time during the time specified in such Agreement or separate policy, the Participant shall be required to pay
to the Company the excess of the then fair market value of the shares that were received with respect to the Award (or if the Participant previously disposed of such shares, the fair market value of such shares at the time of the disposition) over
the total price paid by the Participant for such shares. 

  
 23 

 16.5 Assumption or Cancellation of Awards Upon a Corporate Transaction. 

a. In the event of a sale of all or substantially all of the assets or stock of the 

Company, a spinoff, the merger of the Company with or into another corporation such that shareholders of the Company immediately prior to the
merger exchange their shares of stock in the Company for cash and/or shares of another entity or any other corporate transaction to which the Committee deems this provision applicable (any such event is referred to as a “Corporate
Transaction”), all Awards will be subject to the agreement of merger or consolidation or applicable transaction agreement. 
 b. The
Committee may, in its discretion, cause each Award to be assumed or for an equivalent Award to be substituted by the successor or spun-off corporation or a parent or subsidiary of such successor corporation
and adjusted as appropriate. 
 c. In addition or in the alternative, the Committee, in its discretion, may cancel all or certain types of
outstanding Awards at or immediately prior to the time of the Corporate Transaction provided that the Committee either (i) provides that the Participant is entitled to a payment (in cash or shares) equal to the value of the Award, as determined
below and to the extent there is any such value, or (ii) at least fifteen (15) days prior to the Corporate Transaction (or, if not feasible to provide fifteen (15) days’ notice, within a reasonable period prior to the Corporate
Transaction), notifies the Participant that, subject to rescission if the Corporate Transaction is not successfully completed within a certain period, the Award will be terminated and provides the Participant the right to exercise the Option or
other Award as to all shares, including shares that would not otherwise be exercisable (or with respect to Restricted Stock, RSUs, Performance Shares, Performance Units, or Other Awards, provides that all restrictions shall lapse) prior to the
Corporate Transaction. 
 d. For purposes of this provision, the value of the Award shall be measured as of the date of the Corporate
Transaction and shall equal the value of the cash, shares or other property that would be payable to the Participant upon exercise or vesting of the Award, as applicable, less the amount of any payment required to be tendered by the Participant upon
such exercise. The Committee may adopt such valuation methodologies for outstanding Awards as it deems reasonable in the event of a cash settlement and, in the case of Options, SARs or similar rights, but without limitation on other methodologies,
may base such settlement solely upon the excess (if any) of the per share amount payable upon or in respect of such event over the exercise price of such Option or SAR and may cancel each Option or SAR with an exercise price greater than the per
share amount payable upon or in respect of such event without any payment to the person holding such Option or SAR. For example, under this provision, in connection with a Corporate Transaction, the Committee can cancel all outstanding Options under
the Plan in consideration for payment to the holders thereof of an amount equal to the portion of the consideration that would have been payable to such holders pursuant to the Corporate Transaction if their Options had been fully exercised
immediately prior to such Corporate Transaction, less the aggregate Option Exercise Price that would have been payable therefor, or if the amount that would have been payable to the Option holders pursuant to such Corporate Transaction if their
Options had been fully exercised immediately prior thereto would be less than the aggregate Option Exercise Price that would have been payable therefor, the Committee can cancel any or all such Options for no consideration or payment of any kind.
Payment of any amount payable pursuant to this cancellation provision may be made in cash or, in the event that the consideration to be received in such transaction includes securities or other property, in cash and/or securities or other property
in the Committee’s discretion. 

  
 24 

 e. Any actions taken under this Section 16.5 shall be valid with respect to a 409A
Award only to the extent that such action complies with Code section 409A. 
 ARTICLE 17. MISCELLANEOUS PROVISIONS 

17.1 Restrictions on Shares. If the Committee determines that the listing, registration or qualification upon any securities exchange
or under any law of shares subject to any Award is necessary or desirable as a condition of, or in connection with, the granting of same or the issue or purchase of Shares thereunder, no such Award may be exercised in whole or in part (as
applicable), no such Award may be paid out (as applicable) and no shares may be issued pursuant to such Award (as applicable) unless such listing, registration or qualification is effected free of any conditions not acceptable to the Committee. All
certificates for shares of Common Stock delivered under the Plan shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and
Exchange Commission, any listing standards applicable to the Common Stock and any applicable federal or state laws, and the Committee may cause a legend or legends to be placed on any such certificates to make appropriate reference to such
restrictions. In making such determination, the Committee may rely upon an opinion of counsel for the Company. 
 Notwithstanding any other
provision of the Plan, the Company shall have no liability to deliver any shares under the Plan or make any other distribution of the benefits under the Plan unless such delivery or distribution would comply with all applicable state, federal and
foreign laws (including, without limitation and if applicable, the requirements of the Securities Act of 1933), and any applicable requirements of any securities exchange or similar entity. 

17.2 Rights of a Shareholder. Except as provided otherwise in the Plan or in an Agreement, no Participant awarded an Option, SAR, RSU,
Performance Share, Performance Unit or Other Award shall have any right as a shareholder with respect to any shares covered by such Award prior to the date of issuance to him or her or his or her delegate of a certificate or certificates for such
shares or the date the Participant’s name is registered on the Company’s books as the shareholder of record with respect to such shares. 

17.3 Transferability. No ISO granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than upon the Participant’s death, to a beneficiary in accordance with Article 13 or by will or the laws of descent and distribution. If permitted by the Committee, a Participant may transfer NQSOs to a Permitted Transferee in accordance
with procedures approved by the Committee. Except for a permitted transfer of NQSOs by a Participant to a Permitted Transferee, unless the Committee determines otherwise consistent with securities and other applicable laws, rules and regulations,
(i) no Award granted under the Plan shall be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by a Participant other than upon the Participant’s death, to a beneficiary in accordance with Article 13 or by will or
the laws of descent and distribution, and (ii) each Option and SAR outstanding to a Participant may be exercised during the Participant’s lifetime only by the Participant or his or her guardian or legal representative (provided that
Incentive Stock Options may be exercised by such guardian or legal representative only if permitted by the Code and any regulations promulgated thereunder). In the event of a transfer to a Permitted Transferee as permitted under this
Section 17.3 or by the Committee, appropriate evidence of any transfer to the Permitted 

  
 25 

 
Transferee shall be delivered to the Company at its principal executive office. If all or part of an Award is transferred to a Permitted Transferee, the Permitted Transferee’s rights
thereunder shall be subject to the same restrictions and limitations with respect to the Award as the Participant. For the avoidance of doubt, any permitted transfer of an Award will be without payment of consideration by the Permitted Transferee.

 17.4 No Fractional Shares. Unless provided otherwise in the Agreement applicable to an Award, no fractional shares of Common Stock
shall be issued or delivered pursuant to the Plan or any Award, and any fractional share otherwise payable pursuant to an Award shall be forfeited unless the Agreement provides for payment of cash for such fractional share. 

17.5 No Implied Rights. Nothing in the Plan or any Agreement shall confer upon any Participant any right to continue in the employ or
service of the Employer, or to serve as a Non-Employee Director thereof, or interfere in any way with the right of the Employer to terminate the Participant’s employment or other service relationship at
any time and for any reason. Unless otherwise determined by the Committee, no Award granted under the Plan shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit plan, severance program, or other
arrangement of the Employer for the benefit of its employees. No Participant shall have any claim to an Award until it is actually granted under the Plan. An Award of any type made in any one year to an eligible Participant shall neither guarantee
nor preclude a further grant of that or any other type of Award to such Participant in that year or any subsequent year. To the extent that any person acquires a right to receive payments from the Company under the Plan, such right shall, except as
otherwise provided by the Committee, be no greater than the right of an unsecured general creditor of the Company. 
 17.6 Transfer of
Employee. The transfer of an Employee from the Company to a Subsidiary, from a Subsidiary to the Company, or from one Subsidiary to another shall not be considered a termination of employment; nor shall it be considered a termination of
employment if an Employee is placed on military, disability or sick leave or such other leave of absence which is considered by the Committee as continuing intact the employment relationship. If an Employee’s employment or other service
relationship is with a Subsidiary and that entity ceases to be a Subsidiary of the Company, a termination of employment shall be deemed to have occurred when the entity ceases to be a Subsidiary unless the Employee transfers his or her employment or
other service relationship to the Company or its remaining Subsidiaries. 
 17.7 Expenses of the Plan. The expenses of the Plan shall
be borne by the Company. The Company shall not be required to establish any special or separate fund or make any other segregation of assets to assume the payment of any Award under the Plan. 

17.8 Compliance with Laws. 

a. The Plan and the grant of Awards shall be subject to all applicable federal and state laws, rules, and regulations and to such approvals by
any United States government or regulatory agency as may be required. It is the intent of the Company that the awards made hereunder comply in all respects with Rule 16b-3 under the Exchange Act and that any
ambiguities or inconsistencies in construction of the Plan be interpreted to give effect to such intention. Any provision herein relating to compliance with Rule 16b-3 under the Exchange Act shall not be
applicable with respect to participation in the Plan by Participants who are not Insiders. 

  
 26 

 b. Grandfathered Performance-Based Awards. Notwithstanding anything in the Plan to
the contrary, the Committee shall administer any Awards in effect on November 2, 2017 which qualify as “performance-based compensation” under Code section 162(m), as amended the by Tax Cuts and Jobs Act (the “Tax
Act”), in accordance with the “grandfathering” transition rules applicable to written binding contracts in effect on November 2, 2017 and shall have the discretion to amend the Plan to conform to the TCJA, all without
obtaining further approval from the Company’s shareholders (unless otherwise required by applicable law). Further, this amended and restated Plan is not intended, and shall not be deemed as amending, any such Awards to the extent it would
result in the loss of deductibility under the TCJA’s Code section 162(m) “grandfathering” rules. 
 17.9 Successors.
The terms of the Plan and outstanding Awards shall be binding upon the Company and its successors and assigns. 
 17.10 Tax Elections.
Each Participant agrees to give the Committee prompt written notice of any election made by such Participant under Code section 83(b) or any similar provision thereof. Notwithstanding the preceding sentence, the Committee may condition any Award on
the Participant’s not making an election under Code section 83(b). 
 17.11 Uncertificated Shares. To the extent that the Plan
provides for issuance of certificates to reflect the transfer of shares of Common Stock, 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 on which shares of Common Stock are traded. 
 17.12 Compliance with Code
Section 409A. At all times, this Plan shall be interpreted and operated (i) with respect to 409A Awards in accordance with the requirements of Code section 409A, and (ii) to maintain the exemptions from Code section
409A of Options, SARs and Restricted Stock and any Awards designed to meet the short-term deferral exception under Code section 409A. To the extent there is a conflict between the provisions of the Plan relating to compliance with Code section 409A
and the provisions of any Agreement issued under the Plan, the provisions of the Plan control. Moreover, any discretionary authority that the Committee may have pursuant to the Plan shall not be applicable to a 409A Award to the extent such
discretionary authority would conflict with Code section 409A. In addition, to the extent required to avoid a violation of the applicable rules under Code section 409A by reason of Code section 409A(a)(2)(B)(i), any payment under an Award shall be
delayed until the earliest date of payment that will result in compliance with the rules of Code section 409A(a)(2)(B)(i) (regarding the required six (6) month delay for distributions to specified employees that are related to a separation from
service). To the extent that a 409A Award provides for payment upon the recipient’s termination of employment as an Employee or cessation of service as a Non-Employee Director or Non-Employee, the 409A Award shall be deemed to require payment upon the individual’s “separation from service” within the meaning of Code section 409A. To the extent any provision of this Plan or an
Agreement would cause a payment of a 409A Award to be made because of the occurrence of a change in control, then such payment shall not be made unless such change in control also constitutes a “change in ownership”, “change in
effective control” or “change in ownership of a substantial portion of the Company’s assets” within the meaning of Code section 

  
 27 

 
409A. Any payment that would have been made except for the application of the preceding sentence shall be made in accordance with the payment schedule that would have applied in the absence of a
change in control. To the extent an Award is a 409A Award and is subject to a substantial risk of forfeiture within the meaning of Code section 409A (or will be granted upon the satisfaction of a condition that constitutes such a substantial risk of
forfeiture), any compensation due under the Award (or pursuant to a commitment to grant an Award) shall be paid in full not later than the sixtieth (60th) day following the date on which there is
no longer such a substantial risk of forfeiture with respect to the Award (and the Participant shall have no right to designate the year of the payment), unless the Committee shall clearly and expressly provide otherwise at the time of granting the
Award. In the event that an Award shall be deemed not to comply with Code section 409A, then neither the Company, the Board, the Committee nor its or their designees or agents, nor any of their affiliates, assigns or successors (each a
“protected party”) shall be liable to any Award recipient or other person for actions, inactions, decisions, indecisions or any other role in relation to the Plan by a protected party. 

17.13 Legal Construction. 

a. If any provision of this Plan or an Agreement is or becomes or is deemed invalid, illegal or unenforceable in any jurisdiction, or would
disqualify the Plan or any Agreement under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws or if it cannot be construed or deemed amended without, in the determination of
the Committee, materially altering the intent of the Plan or the Agreement, it shall be stricken and the remainder of the Plan or the Agreement shall remain in full force and effect. 

b. Where the context admits, words in any gender shall include the other gender, words in the singular shall include the plural and words in
the plural shall include the singular. 
 c. To the extent not preempted by federal law, the Plan and all Agreements hereunder shall be
construed in accordance with and governed by the laws of the State of Georgia, without giving effect to any choice of law provisions. Unless otherwise provided in the applicable Agreement, the recipient of an Award is deemed to submit to the
exclusive jurisdiction and venue of the Federal and state courts of Georgia to resolve any and all issues that may arise out of or relate to the Plan or such Agreement. 

  
 28 

 IN WITNESS WHEREOF, this Plan is executed as of the date approved by the Board of Directors
of the Company, this 16th day of October, 2020. 
  

			
	AARON’S HOLDINGS COMPANY, INC.
		
	By:	 	 /s/ Robert W. Kamerschen

		 	 Name: Robert W. Kamerschen
 Title: Corporate
Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00315-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00315-of-00352.parquet"}]]