Document:

EX-10.4

 Exhibit 10.4 

[EXPRESS SCRIPTS HOLDING COMPANY] 

STOCK OPTION GRANT NOTICE 

FOR NON-EMPLOYEE DIRECTORS 

Notice is hereby given of the following option grant (the “Option”) to purchase shares of common stock, $0.01 par value per share,
of Express Scripts Holding Company (the “Company”) pursuant to the following terms and conditions: 
  

					
			
	 •    Optionee:
	  		  	
			
	 •    Grant Date:
	  		  	
			
	 •    Exercise Price Per Share:
	  	$	  	
			
	 •    Number of Option Shares:
	  		  	
			
	 •    Term/Expiration Date of Option:
	  		  	
			
	 •    Type of Option:
	  	Non-qualified Stock Option	  	
		  		  	

	 	•	 	Vesting Schedule: The shares of common stock granted pursuant to the Option shall be vested and become exercisable in accordance with the following vesting schedule: 

 

	 	•	 	Other Provisions: The Option is granted subject to, and in accordance with, the terms of the Stock Option Agreement (the “Option Agreement”) attached hereto as Exhibit A, including Schedule 1
thereto, and the Express Scripts Holding Company 2016 Long-Term Incentive Plan, as amended from time to time (the “Plan”). 

This Option is granted under, and governed by, the terms and conditions of this Grant Notice, the Plan and the Option Agreement. 

 

	
	 EXPRESS SCRIPTS HOLDING COMPANY

	
	 By:

 Attachments: 

Exhibit A—Stock Option Agreement 
 Exhibit
B—Express Scripts Holding Company 2016 Long-Term Incentive Plan 

 EXHIBIT A 

STOCK OPTION AGREEMENT 
 FOR
NON-EMPLOYEE DIRECTORS 
 Express Scripts Holding Company, a Delaware corporation (“Company”), has granted you
(“Optionee”) an option to purchase shares of common stock of the Company, $0.01 par value per share (“Common Stock”), pursuant to the terms and conditions set forth in your Stock Option Grant Notice (“Grant Notice”) and
this Stock Option Agreement (“Option Agreement”). 
 The Option is granted pursuant to the Express Scripts Holding Company 2016
Long-Term Incentive Plan, as amended from time to time (the “Plan”), pursuant to which options, and other awards, may be granted to Non-Employee Directors of the Company. Except as otherwise specifically set forth herein, all capitalized
terms utilized herein (including on Schedule 1 hereto) shall have the respective meanings ascribed to them in the Plan 
 The details
of your Option are as follows: 
 1. Grant of Option. Pursuant to an action of the Board and or a committee authorized by the Board,
the Company hereby grants to Optionee an option to purchase shares of Common Stock (the “Option”), subject to the terms and conditions described herein. The number of shares of Common Stock subject to your Option and the Exercise Price Per
Share are set forth in the Grant Notice. 
 2. Term, Vesting and Forfeiture. 

(a) Term. This Option may be exercised only within the Term set forth in the Grant Notice, and may be exercised during such Term only in
accordance with the Plan and the terms of this Option Agreement. 
 (b) Time Vesting. The Option shall vest in one or more
installments in accordance with the Vesting Schedule set forth on the Grant Notice, with the vesting of each installment subject to the Optionee’s continued service as a member of the Board through the applicable vesting date, subject to the
terms hereof. 
 (c) Accelerated Vesting. Any Option, or portion thereof, which has not yet vested under subparagraph (b) above
shall, upon the occurrence of a Change in Control or the termination of the Optionee’s continued service as a member of the Board, vest or be forfeited in accordance with the provisions of the Plan, and the terms of this Agreement (including
Schedule 1 hereto). 
 (d) Forfeiture of Option. If Optionee’s service as a member of the Board terminates for any reason,
Optionee shall forfeit all rights with respect to any portion of the Option that has not yet vested as of the effective date of the termination, except to the extent such Award vests upon such termination under Paragraph 2(c). 

3. Exercise of Option. 

(a) Right to Exercise. This Option is exercisable during its Term in accordance with the Vesting Schedule set forth in the Grant Notice
and the applicable provisions of the Plan and this Option Agreement. 

 (b) Method of Exercise. This Option is exercisable pursuant to the procedures for exercise
provided from time to time by the Company and/or by a third-party vendor selected by the Company. The Option exercise shall require payment of the aggregate exercise price as to all exercised shares. The method of payment of the aggregate exercise
price shall be in a form approved by the Company in accordance with Section 7(a)(ii) of the Plan. This Option shall be deemed to be exercised upon receipt and approval by the Company (or the appropriate third party) of all required exercise
notices, together with full payment of the exercise price and such additional documents as the Company (or the third-party vendor) may then require. The Company may cause, or authorize its third-party to vendor to cause, the vested portion of this
Option to automatically be exercised on the Expiration Date for such Option, to the extent it has not previously been exercised or forfeited. 

4. Incorporation of the Plan by Reference; Conflicting Terms. The Option is granted under, and expressly subject to, the terms and
provisions of the Plan, which terms and provisions are incorporated herein by reference. Optionee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. In the event of any conflict between
the terms of the Plan and the terms of this Agreement, the terms and provisions of the Plan shall govern. 
 5. Non-Transferability of
Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement
shall be binding upon the executors, administrators, heirs, successors and assigns of Optionee. 
 6. Stockholder Rights. Optionee
shall not have any stockholder rights with respect to the shares of Common Stock granted pursuant to this Option until Optionee shall have exercised the Option in accordance with Section 3 hereof. 

7. Adjustments Upon Changes in Capitalization or Corporate Acquisitions. Should any change be made to the Common Stock by reason of any
Fundamental Change, divestiture, distribution of assets to stockholders (other than ordinary cash dividends), reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, stock combination or exchange, rights
offering, spin-off or other relevant change, appropriate adjustments shall be made to (a) the total number and/or class of securities subject to this Option, and (b) the Exercise Price Per Share set forth in the Grant Notice in order to
reflect such change and thereby preclude a dilution or enlargement of benefits hereunder. 
 8. Compliance with Laws and Regulations.
Notwithstanding anything herein to the contrary, no shares of Common Stock shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with all relevant provisions of law and the requirements of any stock
exchange or quotation service upon which the shares of Common Stock are then listed. 
 9. Board Discretion. This Option has been
granted pursuant to a determination made by the Board and/or one or more committees of the Board (as delegated by the Board). Notwithstanding anything to the contrary herein, and subject to the limitations of the Plan, the Board or its delegated
committee(s) shall have plenary authority to: (a) interpret any provision of this Agreement or the Option; (b) make any determinations necessary or advisable for the administration of this Agreement or the Option; (c) make adjustments
as it deems appropriate to the aggregate number and type of securities available under this Agreement to appropriately adjust for, and give effect to, any Fundamental Change, divestiture, distribution of assets to stockholders (other than ordinary
cash dividends), reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, stock combination or exchange, rights offering, spin-off or other relevant change; and (d) otherwise modify or amend any
provision hereof, or otherwise with respect to the Option, in any manner that does not materially and adversely affect any right granted to Optionee by the express terms hereof, unless required as a matter of law, subject to the limitations stated
in the Plan. 

 10. Taxes. By accepting this Option pursuant to this Agreement, Grantee represents that he
or she has reviewed with his or her own tax advisors the federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement and that he or she is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents. Grantee understands and agrees that he or she (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this Agreement. 

11. Electronic Delivery. The Company may choose to deliver certain statutory or regulatory materials relating to the Plan in electronic
form, including without limitation securities law disclosure materials. Without limiting the foregoing, by accepting this Option, Optionee hereby agrees that the Company may deliver the Plan prospectus and the Company’s annual report to
Optionee in an electronic format. If at any time Optionee would prefer to receive paper copies of any document delivered in electronic form, the Company will provide such paper copies upon written request to the Investor Relations department of the
Company. 
 12. No Right to Continued Service on the Board. Nothing in this Agreement shall be deemed to create any limitation or
restriction on or otherwise affect such rights as the Company, the stockholders of the Company, or the Board otherwise would have to remove Optionee from the Board, to exclude Optionee from any slate of nominees for election to the Board, or to
otherwise terminate Optionee’s service on the Board at any time for any reason. 
 13. Entire Agreement. This Agreement,
including Schedule 1 hereto, and the Plan contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings and negotiations between the parties. 

14. Governing Law. To the extent federal law does not otherwise control, this Agreement shall be governed by the laws of Delaware,
without giving effect to principles of conflicts of laws. 

 SCHEDULE 1 TO EXHIBIT A 

TERMINATION AND CHANGE IN CONTROL PROVISIONS UNDER THE 

EXPRESS SCRIPTS HOLDING COMPANY 2016 LONG-TERM INCENTIVE PLAN 

STOCK OPTION GRANT NOTICE 
 FOR
NON-EMPLOYEE DIRECTORS 
 I. Termination of Service of Non-Employee Director 

(A) Generally. Except as provided herein, if Optionee’s service as a member of the Board terminates, then any portion of the Option
that has not vested as of the date of such termination shall terminate as of such date, and the unvested portion of the Option shall be forfeited to the Company without payment therefor. 

(B) Death. If Optionee’s service as a member of the Board terminates because of his or her death, then the Option, to the extent it
has not expired or been terminated, shall vest and become exercisable in full, and may be exercised by the Optionee’s Successor at any time, or from time to time, within one year after the date of Optionee’s death. 

(C) Disability. If Optionee’s service as a member of the Board terminates because of Disability, then the Option, to the extent it
has not expired or been terminated, shall vest and become exercisable in full, and Optionee or Optionee’s Successor may exercise such Option at any time, or from time to time, within one year after the date of Optionee’s Disability. 

(D) Retirement. The termination of Optionee’s service as a member of the Board after attainment of age 65 for any reason other than
death or Disability shall be considered a Retirement, subject to the following: 
  

	 	1.	Tenured Retirement. After attainment of age 70, Optionee’s Retirement shall be deemed to be a “Tenured Retirement”. Upon a Tenured Retirement, the Option, to the extent it has not expired or
been terminated, shall vest and become exercisable in full, and may be exercised by the Optionee, or Optionee’s Successor at any time, or from time to time, up to and including the date the Option expires. 

 

	 	2.	Early Retirement. If Optionee has attained the age of 65, but not age 70, and has at least ten years of service on the Board, then Optionee’s Retirement shall be deemed to be an “Early
Retirement”. Upon an Early Retirement, the following shall occur: 

  

	 	(a)	any portion of the Option which has vested but not yet been exercised as of the date of the Retirement shall remain vested and fully-exercisable by the Optionee, or Optionee’s Successor at any time, or from time to
time, up to and until the first to occur of (i) the four-year anniversary of the date of the Retirement, or (ii) the date the Option expires; 

  

	 	(b)	for any portion of the Option which has not vested, expired or otherwise been terminated as of date of the Retirement, a pro-rata portion thereof (determined as set forth below) shall remain in effect and vest and
become exercisable in accordance with the original vesting schedule, and following such vesting shall be fully-exercisable by the Optionee, or Optionee’s Successor at any time, or from time to time, up to and until the first to occur of
(i) the four-year anniversary of the date of the Retirement, or (ii) the date the Option expires; 

	 	(c)	the pro-rata portion of the Option that continues to vest under the preceding paragraph shall be a percentage which is equal to (i) the number of full months served by Optionee past age 65, divided by (ii) 60.
The remaining portion of the Option that is not eligible for continued vesting under the preceding paragraph shall immediately terminate upon Retirement. 

  

	 	3.	Death or Disability While Eligible for Retirement. If Optionee’s service as a member of the Board terminates because of his or her death or Disability and, at the time of such termination of service
on the Board Optionee would have been eligible for a Tenured Retirement, the Option shall be treated as if Optionee’s service had terminated due to Tenured Retirement (rather than due to death or Disability, as applicable). If Optionee’s
service as a member of the Board terminates because of his or her death or Disability and, at the time of such termination of service on the Board Optionee would have been eligible for Early Retirement, Optionee or Optionee’s Successor may
elect to have the Option treated as if Optionee’s service had terminated due to Early Retirement (rather than due to death or Disability, as applicable). Such election shall be made through the delivery of an irrevocable notice indicating such
desired treatment to the Company’s General Counsel no less than 60 days after the date of Optionee’s death or Disability (as applicable). 

  

	 	4.	Standard Retirement. Any Retirement that is not either a Tenured Retirement or an Early Retirement shall be deemed to be a Standard Retirement. 

(E) Reasons other than Death, Disability, Tenured Retirement, Early Retirement or Termination for Cause. If Optionee’s service as a
member of the Board terminates due to a Standard Retirement or for any other reason other than death, Disability, Tenured Retirement or Early Retirement, then the Option, to the extent it has not expired or been terminated, shall remain exercisable
for one year after termination of Optionee’s service on the Board, but only to the extent that such Option was exercisable immediately prior to Optionee’s termination of service. 

(F) Expiration of Term. Any portion of the Option that remains unexercisable upon termination of service as a member of the Board (after
taking into account the foregoing paragraphs (A)-(E), and except as specifically provided in the foregoing paragraph (D)(3)) shall terminate immediately upon such termination of service as a member of the Board. Any portion of the Option that is, or
becomes, exercisable upon termination of service as a member of the Board (or thereafter pursuant to the foregoing paragraph (D)(3)) which is not exercised within the applicable period set forth in the foregoing paragraphs (A)-(E) shall
terminate as of the end of the applicable period described in such paragraphs; provided, however, that the Company may cause, or authorize its third-party to vendor to cause, any remaining vested portion of the Option to automatically be exercised
on the last date of the applicable period, to the extent it has not previously been exercised or forfeited. Notwithstanding the foregoing, or any other provision of the Plan, the Stock Option Agreement, the Grant Notice, or this Schedule 1, in no
event shall the Option be exercisable after expiration of the Term. 
 II. Change in Control 

(A) Acceleration of Vesting Upon Change in Control After Which No Public Market for Company or Exchange Stock Exists 

(i) Acceleration of Vesting. Upon the occurrence of a Change in Control after which there will be no generally recognized U.S. public
market for the Company’s Common Stock or any common stock for which the Company’s Common Stock is exchanged, the Option, to the extent it has not expired or been terminated, shall, to the extent not yet exercisable, vest and become
exercisable in full. 
 (ii) Company Payment. Upon the occurrence of a Change in Control transaction after which there will be no
generally recognized U.S. public market for the Company’s Common Stock or any common stock for which the Company’s Common Stock is exchanged, on the Change in Control 

 
Date the Option shall be automatically cancelled without further action by the Company or the Optionee, and the Company shall provide payment in connection with such cancellation at a per share
price equal to the excess (if any) of the Change in Control Price (as defined below) over the exercise price of the Option. The Change in Control Price shall mean the value, expressed in dollars, as of the date of receipt of the per share
consideration received by the Company’s stockholders whose stock is acquired in a transaction constituting a Change in Control. In case such all or part of such consideration shall be in a form other than cash, the value of such consideration
shall be as determined in good faith by a majority of the Board of Directors based on a written opinion by a nationally recognized investment banking firm, whose determination shall be described in a statement furnished to Participants. 

(B) Acceleration of Vesting Upon Other Change in Control Transactions. Upon the occurrence of a Change in Control after which there
remains a generally recognized U.S. public market for the Company’s Common Stock or for any common stock for which the Company’s Common Stock is exchanged, the Option, to the extent it has not expired or been terminated, shall vest and
become exercisable in full and shall remain exercisable for the remainder of the Term. 
 (C) Options Not Assumed. Notwithstanding
anything herein to the contrary, the Board may provide for such other treatment of the Option as the Board may determine in its sole discretion with respect to the Option if it is not assumed or is cancelled in connection with a Change in Control.EX-10.5

 Exhibit 10.5 

[EXPRESS SCRIPTS HOLDING COMPANY] 

RESTRICTED STOCK UNIT GRANT NOTICE 

Notice is hereby given of the following award of Restricted Stock Units (the “Award”), which entitles the Grantee to receive one share of the common
stock, $0.01 par value per share, of Express Scripts Holding Company (“Common Stock”) for each Restricted Stock Unit pursuant to the following terms and conditions: 
  

	 	•	 	Grantee: 

  

	 	•	 	Grant Date: 

  

	 	•	 	Number of Restricted Stock Units: 

  

	 	•	 	Vesting Schedule: The Restricted Stock Units under the Award shall vest in accordance with the following vesting schedule: 

  

	 	•	 	Other Provisions: The Award is granted subject to, and in accordance with, the terms of the Restricted Stock Unit Agreement (the “RSU Agreement”) attached hereto as Exhibit A, including Schedule
1 thereto, and the Express Scripts Holding Company 2016 Long-Term Incentive Plan, as amended from time to time (the “Plan”). 

This Award is granted under, and governed by, the terms and conditions of this Grant Notice, the Plan and the RSU Agreement. 

 

			
	EXPRESS SCRIPTS HOLDING COMPANY
		
	By: 	 	  

		 	

 Attachments: 

Exhibit A—Restricted Stock Unit Agreement 

 EXHIBIT A 

RESTRICTED STOCK UNIT AGREEMENT 

Express Scripts Holding Company, a Delaware corporation (the “Company”), has granted you (the “Grantee”) an award of the
number of Restricted Stock Units as set forth on your Restricted Stock Unit Grant Notice (the “Grant Notice”). Each Restricted Stock Unit shall entitle Grantee to receive one share of Common Stock upon vesting in the future in accordance
with, and subject to, the terms and conditions set forth in the Notice and this Restricted Stock Unit Agreement (the “RSU Agreement”). 

The Award is granted pursuant to the Express Scripts Holding Company 2016 Long-Term Incentive Plan, as amended from time to time (the
“Plan”), pursuant to which restricted stock units, and other awards, may be granted to employees of the Company or an Affiliate. Except as otherwise specifically set forth herein, all capitalized terms utilized herein (including on
Schedule 1 hereto) shall have the respective meanings ascribed to them in the Plan. 
 The details of your Award are as follows: 

l. Grant of Restricted Stock Unit Award. Pursuant to action of the Board and/or the Committee, the Company hereby grants to Grantee an
Award of the number of Restricted Stock Units as set forth on the Grant Notice. Each Restricted Stock Unit shall entitle Grantee to receive one share of Common Stock upon vesting in the future in accordance with, and subject to, the terms and
conditions described herein. 
 2. Vesting and Forfeiture. 

(a) Time Vesting. The Restricted Stock Units shall vest in one or more installments (each, an “Installment”) in accordance
with the Vesting Schedule as set forth on the Grant Notice, with the vesting of each Installment subject to the Grantee’s continued employment with the Company or an Affiliate through the applicable vesting date, subject to the terms hereof
and, where applicable, the terms of an Applicable Employment Agreement (as defined below), if any. 
 (b) Accelerated Vesting. Any
Restricted Stock Units which have not yet vested under subparagraph (a) above shall vest or be forfeited in accordance with the provisions of the Plan, and the terms of this RSU Agreement (including Schedule 1 hereto), and, where applicable,
the terms of any Applicable Employment Agreement. 
 (c) Forfeiture of Restricted Stock Units. Except as provided on Schedule 1 hereto
or in an Applicable Employment Agreement (if any), if Grantee’s employment with the Company or an Affiliate terminates for any reason, Grantee shall forfeit all rights with respect to any portion of the Award (and the underlying shares of
Common Stock) that has not yet vested as of the effective date of the termination. 
 3. Issuance of Common Stock. In accordance with
the Vesting Schedule and subject to all the terms and conditions set forth in this RSU Agreement, the Plan and any Applicable Employment Agreement, upon an applicable vesting event, but in no event later than thirty (30) days following such
event, the Company shall issue and deliver to Grantee the number of shares of Common Stock equal to the number of Restricted Stock Units which have become vested as a result of such event (subject to any reductions for tax withholding or otherwise
to the extent permitted under the Plan, this RSU Agreement or any Applicable Employment Agreement). The Company may, in its sole discretion, deliver such shares of Common Stock (a) by issuing Grantee a certificate of Common Stock representing
the appropriate number of shares, (b) through electronic delivery to a brokerage or similar securities-holding account in the name of Grantee, or (c) through such other commercially reasonable means available for the delivery of
securities. 

 4. Incorporation of the Plan by Reference; Conflicting Terms. The Award of
Restricted Stock Units pursuant to this RSU Agreement is granted under, and expressly subject to, the terms and provisions of the Plan, which terms and provisions are incorporated herein by reference. Grantee hereby acknowledges receipt of a copy of
the Plan and agrees to be bound by all the terms and provisions thereof. In the event of any conflict between the terms of the Plan and the terms of this RSU Agreement, the terms and provisions of the Plan shall govern.  

5. Non-Transferability of Restricted Stock Units. The Restricted Stock Units may not be transferred in any manner and any purported
transfer or assignment shall be null and void. Notwithstanding the foregoing, upon the death of Grantee, Grantee’s Successor shall have the right to receive any shares of Common Stock that may be deliverable hereunder, provided, that, for such
purposes, the terms of the Plan and this RSU Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Grantee. 

6. Ownership Rights. The Restricted Stock Units do not represent a current interest in any shares of Common Stock. Grantee shall have no
voting or other ownership rights in the Company arising from the Award of Restricted Stock Units under this RSU Agreement. Notwithstanding the foregoing, unless otherwise determined by the Committee or the Board, and to the extent permitted by the
Plan, Grantee shall participate in any cash dividend declared by the Board applicable to shares of Common Stock, which shall entitle Grantee to receive a cash payment for each Restricted Stock Unit, subject to the same Vesting Schedule and
restrictions as the underlying Restricted Stock Unit and otherwise payable at the same time shares are issued and delivered to Grantee with respect to the underlying Restricted Stock Unit, in an amount that would otherwise be payable as dividends
with respect to an equal number of shares of Common Stock. 
 7. Adjustments Upon Changes in Capitalization or Corporate Acquisitions.
Should any change be made to the Common Stock by reason of any Fundamental Change, divestiture, distribution of assets to stockholders (other than ordinary cash dividends), reorganization, recapitalization, reclassification, stock dividend, stock
split, reverse stock split, stock combination or exchange, rights offering, spin-off or other relevant change, appropriate adjustments shall be made to the total number and/or class of securities or other property (including cash) subject to this
Award in order to reflect such change and thereby preclude a dilution or enlargement of benefits hereunder. 
 8. Committee
Discretion. This Award has been made pursuant to a determination made by the Board and/or Committee. Notwithstanding anything to the contrary herein, and subject to the limitations of the Plan, the Committee shall have plenary authority to:
(a) interpret any provision of this RSU Agreement or the Award; (b) make any determinations necessary or advisable for the administration of this RSU Agreement or the Award; (c) make adjustments as it deems appropriate to the
aggregate number and type of securities available under this RSU Agreement to appropriately adjust for, and give effect to, any Fundamental Change, divestiture, distribution of assets to stockholders (other than ordinary cash dividends),
reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, stock combination or exchange, rights offering, spin-off or other relevant change; and (d) otherwise modify or amend any provision hereof, or
otherwise with respect to the Award, in any manner that does not materially and adversely affect any right granted to Grantee by the express terms hereof, unless required as a matter of law, subject to the limitations stated in the Plan. 

 9. Tax Withholding. The Company shall withhold from Grantee’s compensation any
required taxes, including social security and Medicare taxes, and federal, state and local income tax, with respect to the income arising from the vesting or payment in respect of any Restricted Stock Units under this RSU Agreement. The Company
shall have the right to require the payment of any such taxes before delivering any shares of Common Stock upon the vesting of any Restricted Stock Unit. Grantee may elect to have any such withholding obligations satisfied by: (i) delivering
cash; (ii) delivering part or all of the withholding payment in previously owned shares of Common Stock; and/or (iii) irrevocably directing the Company to reduce the number of shares that would otherwise be issued to Grantee upon the
vesting of the Award by that number of whole shares of Common Stock having a fair market value, determined by the Company, in its sole discretion, equal to the amount of tax required to be withheld or other such amount that will not cause adverse
accounting consequences for the Company and is permitted under applicable withholding rules promulgated by the Internal Revenue Service or another governmental entity. Absent a specific election to the contrary by Grantee, such withholding
obligations shall be satisfied pursuant to the method described in phrase (iii) of the preceding sentence. 
 10. Clawback
Policy. If Grantee is or subsequently becomes a Senior Executive or Chief Accounting Officer of the Company who is subject to the Policy (as hereinafter defined), this Award shall be subject to the Company’s Clawback and Recoupment Policy,
or any successor policy, as it may be in effect from time to time, including, without limitation, any changes required to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Policy”), and Grantee specifically
acknowledges that such Policy shall apply to previously granted awards and that the Committee shall have discretion regarding application of the Policy to this Award. 

11. Electronic Delivery. The Company may choose to deliver certain statutory or regulatory materials relating to the Plan in electronic
form, including without limitation securities law disclosure materials. Without limiting the foregoing, by accepting this Award, Grantee hereby agrees that the Company may deliver the Plan prospectus and the Company’s annual report to Grantee
in an electronic format. If at any time Grantee would prefer to receive paper copies of any document delivered in electronic form, the Company will provide such paper copies upon written request to the Investor Relations department of the Company.

 12. No Right to Continued Employment. Nothing in this RSU Agreement shall be deemed to create any limitation or restriction on such
rights as the Company or an Affiliate otherwise would have to terminate the employment of Grantee at any time for any reason. 
 13.
Entire Agreement. This RSU Agreement, including Schedule 1 hereto, and the Plan contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings and negotiations
between the parties except to the extent that the vesting and/or forfeiture of this Award of Restricted Stock Units is specifically addressed by any employment agreement between the Company or an Affiliate, on the one hand, and Grantee, on the other
hand (an “Applicable Employment Agreement”), in which instance the relevant terms of such Applicable Employment Agreement shall be incorporated herein and deemed to be a part of this RSU Agreement, and, in the event of any conflict between
the terms of this RSU Agreement regarding the vesting of the Restricted Stock Units, and the terms of an Applicable Employment Agreement (if any), the terms and provisions of the Applicable Employment Agreement shall govern. In addition, any
references in any such Applicable Employment Agreement to the Prior Plans shall also be deemed to refer to the Plan as appropriate. 
 14.
Governing Law. To the extent federal law does not otherwise control, this RSU Agreement shall be governed by the laws of Delaware, without giving effect to principles of conflicts of laws. 

15. Compliance with Section 409A of the Internal Revenue Code. The Award is intended to comply with section 409A of the Code to the
extent subject thereto, and shall be interpreted in accordance with section 409A of the Code and treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be
issued after the Grant 

 
Date. Notwithstanding any provision in the Plan, this RSU Agreement or any Applicable Employment Agreement to the contrary, no payment or distribution under this RSU Agreement that constitutes an
item of deferred compensation under section 409A of the Code and becomes payable by reason of Grantee’s termination of employment or service with the Company shall be made to Grantee until such termination of employment or service constitutes a
separation from service within the meaning of section 409A of the Code. For purposes of this Award, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of section 409A of the Code.
Notwithstanding any provision in the Plan, this RSU Agreement or any Applicable Employment Agreement to the contrary, and to the extent necessary to avoid the imposition of taxes under section 409A of the Code, (a) if Grantee is a specified
employee within the meaning of section 409A of the Code, Grantee shall not be entitled to any payments upon a termination of employment or service until the earlier of: (i) the expiration of the six (6)-month period measured from the date of
Grantee’s separation from service or (ii) the date of death; and (b) no Change in Control shall be deemed to have occurred hereunder unless such Change in Control constitutes a change in control event for purposes of section 409A of
the Code. Upon the expiration of the applicable waiting period set forth in the preceding sentence, all payments and benefits deferred pursuant to this Section 15 (whether they would have otherwise been payable in a single lump sum or in
installments in the absence of such deferral) shall be paid to Grantee in a lump sum as soon as practicable, but in no event later than sixty (60) calendar days, following such expired period, and any remaining payments due under this Award
will be paid in accordance with the normal payment dates specified for them herein. Notwithstanding any provision of the Plan, this RSU Agreement or any Applicable Employment Agreement to the contrary, in no event shall the Company or any Affiliate
be liable to Grantee on account of an Award’s failure to (i) qualify for favorable U.S. or foreign tax treatment or (ii) avoid adverse tax treatment under U.S. or foreign law, including, without limitation, section 409A of the Code.

 SCHEDULE 1 

CERTAIN TERMINATIONS AND CHANGE IN CONTROL PROVISIONS UNDER THE 

RESTRICTED STOCK UNIT AGREEMENT 
 I.
Death, Disability or Retirement 
 Subject to the terms of an Applicable Employment Agreement (if any), in the case of Grantee’s termination of
employment from the Company or any Affiliate on account of death, Disability or Retirement (as defined below), Grantee shall vest in a number of Restricted Stock Units equal to the Pro-Rata Portion (as defined below) of each Installment of
Restricted Stock Units outstanding at the time of such termination of employment. The Company shall issue and deliver to Grantee shares of Common Stock in accordance with Section 3 of the RSU Agreement. For purposes of this RSU Agreement, the
term “Pro-Rata Portion” means, with respect to each Installment, a fraction, the numerator of which is the number of months completed between the Date of Grant and the date of such termination of employment, and the denominator of which is
the total number of months between the Date of Grant and the vesting date applicable to such Installment. For purposes of this RSU Agreement, the term “Retirement” means a termination of employment after the attainment of age 60 and five
(5) years of continuous service with the Company or any of its Affiliates. 
 II. Change in Control 

(A) Restricted Stock Units Vesting. Upon the occurrence of a Change in Control, the following vesting provisions shall apply:

 1. Termination of Employment within Two Years of the Change in Control Date. If within two (2) years following the Change
in Control Date, either (a) the employment of Grantee is terminated without Cause or (b) Grantee terminates employment due to a Constructive Termination, then, notwithstanding the provisions hereof, the outstanding Restricted Stock Units
shall vest in full on the date of such termination. 
 2. Certain Pre-Change in Control Terminations. If the Grantee is either a
Senior Executive or a Vice President and the employment of Grantee is terminated without Cause within 90 days prior to the Change in Control Date, then notwithstanding the provisions hereof, the outstanding Restricted Stock Units held by such
Grantee as of the date of his or her termination of employment that do not constitute “deferred compensation” subject to section 409A of the Code shall vest in full on the Change in Control Date. 

3. Defined Terms. For purposes of this Schedule 1, 

(a) “Constructive Termination” means, 

i. with respect to a Grantee who is a Senior Executive or a Vice President, a change in employment conditions that results in
such Grantee not having or continuing to have Comparable Employment relative to Grantee’s employment immediately preceding the Change in Control Date; 

ii. with respect to a Grantee who is a Senior Executive, an adverse change in the level of position to which Grantee reports;
and 

 iii. with respect to a Grantee who is neither a Senior Executive nor a Vice
President, (1) a material reduction in the Grantee’s aggregate compensation (including salary, bonus and other benefit plans, including option plans) from that in effect immediately preceding the Change in Control Date or (2) the
relocation of the Grantee’s principal place of employment to a location more than fifty (50) miles from the Grantee’s principal place of employment immediately preceding the Change in Control Date. 

Notwithstanding anything herein to the contrary, a Constructive Termination shall not occur unless Grantee gives written notice
to the Company (or, if applicable, the successor of the Company) within thirty (30) days of the occurrence of any of the events listed under a Constructive Termination and such event remains uncured thirty (30) days after the receipt of
such notice. Such termination shall occur immediately following expiration of the cure period to the extent such event remains uncured. 

(b) “Comparable Employment” shall mean employment with the Company and its Affiliates or any successor to the
Company’s business following a Change in Control pursuant to which: 
 i. the responsibilities and duties of Grantee
are substantially the same as before the Change in Control (such changes as are a necessary consequence of the fact that the securities of the Company are no longer publicly traded if the Company’s securities cease to be publicly traded as a
consequence of the Change in Control shall not be considered a change in responsibilities or duties), and the other terms and conditions of employment following the Change in Control do not impose on Grantee obligations materially more burdensome
than those to which Grantee was subject prior to the Change in Control; 
 ii. the aggregate compensation (including salary,
bonus and other benefit plans, including option plans) of Grantee is substantially economically equivalent to or greater than Grantee’s aggregate compensation immediately prior to the Change in Control Date. In making such determination
(A) there shall be taken into account all contingent or unvested compensation, under performance-based compensation plans or otherwise, with appropriate adjustment for rights of forfeiture, vesting rules and other contingencies to payment, and
(B) any compensation payable by reason of the Change in Control shall be disregarded; and 
 iii. the Grantee’s
principal place of employment is not relocated to a location more than fifty (50) miles from the Grantee’s principal place of employment immediately preceding the Change in Control. 

(c) “Vice President” or “Senior Executive” shall mean a Grantee who either (i) held the position of
Vice President or higher as of the Change in Control Date or (ii) held a position of Vice President or higher for the majority of the 12-month period prior to the Change in Control Date (or, if Grantee has been employed by the Company or its
Affiliates for less than 12 months, then the majority of the entire period of employment). 
 4. Timing of Payment. Payments to be
made in respect of section II.(A) of this Schedule 1 shall be made within ten (10) days following the applicable vesting date. 

 (B) Restricted Stock Units Assumption. Upon the occurrence of a Change in Control
after which there will be a generally recognized U.S. public market for the Company’s Common Stock, for common stock for which the Company’s Common Stock is exchanged, or for the common stock of a successor or acquirer entity (such
publicly traded stock, “Public Shares”), then the outstanding Restricted Stock Units shall be assumed, exchanged or substituted for by a successor or acquirer entity such that following the Change in Control, the Restricted Stock Unit
relates to such Public Shares and is of substantially comparable value and (except as provided above) remains subject to the same terms and conditions that were applicable to the Restricted Stock Unit immediately prior to the Change in Control. 

 (C) Restricted Stock Units Cancellation for Cash Unit. Upon the occurrence of a Change in Control other than as
described in (B) above, the Restricted Stock Units shall be treated as set forth below.  
 1. Cancellation. On the Change
in Control Date, the outstanding Restricted Stock Units shall be automatically cancelled without further action by the Company or Grantee, and the Company shall provide for payment (in accordance with the applicable terms and conditions of the
Restricted Stock Unit) in connection with such cancellation with respect to vested Restricted Stock Units at a per share price equal to the Change in Control Price. The Change in Control Price shall mean the value, expressed in dollars, as of the
date of receipt of the per share consideration received by the Company’s stockholders whose stock is acquired in a transaction constituting a Change in Control. In case such sale or part of such consideration shall be in a form other than cash,
the value of such consideration shall be as determined in good faith by a majority of the Incumbent Board, or if there shall be none, by a majority of the Board of Directors based on a written opinion by a nationally recognized investment banking
firm, whose determination shall be described in a statement furnished to Participants. 
 2. Cash Unit Rabbi Trust. Any amount of the
purchase price that may become payable to Grantee with respect to the Restricted Stock Units as to which restrictions have not lapsed on the Change in Control Date shall be deposited on the Change in Control Date in a rabbi trust with one of the ten
largest U.S. commercial banks (measured in terms of amount of assets), or if no such bank will consent to serve as trustee, then another U.S. commercial bank of recognized standing chosen by the Company. Such funds shall be invested in securities
issued or fully guaranteed as to both principal and interest by the U.S. Government, or in debt obligations of U.S. corporations with a remaining term to maturity not exceeding one year and rated AA or better by Standard & Poor’s
Corporation or, in its absence, by an equivalent rating by another nationally recognized statistical rating organization. Interest earned on such funds shall be allocated ratably among the Plan Participants receiving payment of such funds or, if any
amounts are forfeited by a Participant, to the Company (or, if applicable, the successor of the Company), and shall be disbursed when such payments are made. Disbursements from the escrow shall be made as follows: 

(a) Disbursement on Lapse of Restrictions. With the initial deposit the Company shall deliver to the trustee a schedule
for making disbursements to the Participants based on the dates when the remaining restrictions on Awards will lapse based solely on the lapse of time. Unless the trustee receives a notice described in the following clauses (b) or (c), the
trustee will disburse the funds in accordance with such schedule. The Company (or, if applicable, the successor of the Company) will from time to time deliver to the trustee a notice when the restrictions on any such Awards shall lapse (if sooner
than the dates stated in the initial schedule), and the trustee shall disburse funds in accordance with such notice. 
 (b)
Forfeiture. If a Participant forfeits his rights to any payments relating to the Restricted Stock Unit, the Company (or, if applicable, the successor of the Company) shall give written notice thereof contemporaneously to the trustee and the
Participant by certified or registered mail (in the case of the Participant, to the last known address of the 

 
Participant on the records of the Company (or, if applicable, the successor of the Company)), stating the reason for such forfeiture and the amount thereof. The trustee shall disburse the amount
stated in such notice to the Company (or, if applicable, the successor of the Company) thirty (30) days after receipt thereof unless prior to such time the trustee receives written notice from the Participant that the Participant has commenced
litigation against the Company (or, if applicable, the successor of the Company) with respect to the validity of such forfeiture. If such a notice is received, the trustee shall disburse such funds only upon order of a court of competent
jurisdiction or upon written instructions signed by both the Company (or, if applicable, the successor of the Company) and the Participant. 

(c) Acceleration of Payments. If, under the terms of this RSU Agreement, a Participant or his or her successor in
interest becomes entitled to a payment relating to the Restricted Stock Unit, the Participant or such successor shall give written notice thereof contemporaneously to the trustee and the Company (or, if applicable, the successor of the Company) by
certified or registered mail, stating the reason for such accelerated payment and the amount thereof. The trustee shall disburse the amount stated in such notice to the Participant or such successor thirty (30) days after receipt thereof unless
prior to such time the trustee receives written notice from the Company (or, if applicable, the successor of the Company) that the Company (or such successor) has commenced litigation against the Participant or such successor challenging the right
to such acceleration of payment. If such a notice is received, the trustee shall disburse such funds only upon order of a court of competent jurisdiction or upon written instructions signed by both the Company (or, if applicable, the successor of
the Company) and the Participant.

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