Document:

Da-Lite Screen Company, Inc 2010 Stock Option Plan

 Exhibit 10.1 

DA-LITE SCREEN COMPANY, INC. 2010 STOCK OPTION PLAN 

I. INTRODUCTION 

1.1 Purposes. The purposes of the Da-Lite Screen Company, Inc. 2010 Stock Option Plan (the “Plan”),
maintained by Da-Lite Screen Company, Inc., an Indiana corporation (the “Company”), are (i) to align the interests of the Company’s stockholders and the recipients of awards under this Plan by increasing the proprietary
interest of such recipients in the Company’s growth and success, (ii) to advance the interests of the Company by attracting and retaining key employees and (iii) to motivate such persons to act in the long-term best interests of the
Company and its stockholders. 
 1.2 Certain Definitions. 

“Agreement” shall mean the written agreement evidencing an award hereunder between the Company and the recipient
of such award. 
 “Board” shall mean the Board of Directors of the Company. 

“Cause” shall mean an Optionee’s commission of a felony, fraud, willful misconduct, ignoring directives of
the Board or the Company’s chief executive officer, gross neglect or other breach of fiduciary duty to the Company, in each case as the Committee may in its discretion determine. 

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

“Committee” shall mean the Committee designated by the Board or, if no such Committee is designated, the full
Board. 
 “Common Stock” shall mean the common stock, $0.001 par value, of the Company (i.e., giving
effect to the conversion of its Common Stock $1.00 per share into $0.001 per share and the related stock split). 

“Company” shall have the meaning set forth in Section 1.1. 

“Corporate Transaction” shall mean (a) the merger or consolidation of the Company with, or the sale or other
transfer of all or substantially all of the Company’s assets to, another entity if less than 51% of the common equity of the surviving or resulting entity is owned by persons and entities which were the shareholders of the Company immediately
prior to such merger, consolidation, sale or transfer, or (b) the sale or other transfer of more than 51% of the outstanding Common Stock in a transaction or series of related transactions. 

“Disability” shall mean the inability of an Optionee substantially to perform such Optionee’s duties and
responsibilities for a continuous period of at least six months. 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 “Fair Market Value” shall mean (i) if shares of Common Stock are not traded at such
time on an exchange or a bona fide over-the-counter market, a value determined by the Committee by whatever means or methods as the Committee, in the good faith exercise of its discretion, deems appropriate in accordance with Section 409A of
the Code or (ii) if shares of Common Stock are traded at such time on a national or regional securities exchange or are traded at such time on a bona fide over-the-counter market, the mean between the high and low prices at which such shares of
Common Stock are traded, provided that the Fair Market Value of the Common Stock for a day which is not a trading day with respect to the Common Stock shall be the Fair Market Value of the Common Stock on the first trading day immediately preceding
such non-trading day. 
 “Optionee” shall mean a person to whom an option to purchase shares of Common
Stock is granted under the Plan. 
 “Performance Measures” shall mean the criteria and objectives,
established by the Committee and set forth in an Agreement, which shall be satisfied or met as a condition to the exercisability of all or a portion of an option. 

“Permanent and Total Disability” shall have the meaning set forth in Section 22(e)(3) of the Code or any
successor thereto. 
 “Tax Date” shall have the meaning set forth in Section 3.5. 

1.3 Administration. This Plan shall be administered by the Committee, which shall consist of no less than three members of
the Board. Unless otherwise determined by the Board, the entire Board shall serve as the Committee. The Committee shall subject to the terms of this Plan, select the eligible persons for participation in the Plan and determine the form, amount and
timing of each award to such persons, and the exercise price associated with the award, the time and conditions of exercise of the award and all other terms and conditions of the award, including, without limitation, the form of the Agreement
evidencing the award. The Committee may, in its sole discretion and for any reason at any time take action such that any or all outstanding options shall become exercisable in part or in full. The Committee shall, subject to the terms of this Plan,
interpret the Plan and the application thereof, establish rules and regulations it deems necessary or desirable for the administration of the Plan and may impose, incidental to the grant of an award, conditions with respect to the award, such as
limiting competitive employment or other activities. All such interpretations, rules, regulations and conditions shall be final, binding and conclusive. 

The Committee may delegate some or all of its administrative duties hereunder to the President or other executive officer of the Company
as the Committee deems appropriate. 
 No member of the Committee, and neither the President nor any other executive officer to
whom the Committee delegates any of its administrative duties hereunder, shall be liable for any act, omission, interpretation, construction or determination made in connection with this Plan in good faith, and the members of the Committee and the
President or other executive officer shall be entitled to indemnification and reimbursement by the Company in respect of any 
  

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claim, loss, damage or expense (including attorneys’ fees) arising therefrom to the full extent permitted by law, except as otherwise may be provided in the Company’s Certificate of
Incorporation and/or By-laws, and under any directors’ and officers’ liability insurance that may be in effect from time to time. 

A majority of the Committee shall constitute a quorum. The acts of the Committee shall be either (i) acts of a majority of the
members of the Committee present at any meeting at which a quorum is present or (ii) acts approved in writing by all of the members of the Committee without a meeting. 

1.4 Eligibility. Participants in this Plan shall consist of such officers and other employees as the Committee in its sole
discretion may select from time to time. The Committee’s selection of a person to participate in this Plan at any time shall not require the Committee to select such person to participate in the Plan at any other time. 

1.5 Shares Available. Subject to adjustment as provided in Section 3.7, 200 shares of Common Stock (which shall become
200,000 shares upon consummation of the conversion of the Common Stock $1.00 per share of the Company into $0.001 per share and the related stock split) shall be available under this Plan, reduced by the sum of the aggregate number of shares of
Common Stock which become subject to outstanding options. To the extent that shares of Common Stock subject to an outstanding option are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or by
reason of the delivery or withholding of shares of Common Stock to pay all or a portion of the exercise price of an award, if any, or to satisfy all or a portion of the tax withholding obligations relating to an award, then such shares of Common
Stock shall again be available under this Plan. 
 Shares of Common Stock shall be made available from authorized and unissued
shares of Common Stock, or authorized and issued shares of Common Stock reacquired and held as treasury shares or otherwise or a combination thereof. 

II. STOCK OPTION AWARDS 

2.1 Granting of Stock Option Awards. The Committee may, in its discretion, grant options to purchase shares of Common Stock
to such eligible persons as may be selected by the Committee. Options granted under this Plan are not intended to meet the requirements of Section 422 of the Code. 

2.2 Terms and Conditions of Awards. Options shall be subject to the following terms and conditions and shall contain such
additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable: 
 (a)
Number of Shares and Purchase Price. The number of shares of Common Stock subject to an option and the purchase price per share of Common Stock purchasable upon exercise of the option shall be determined by the Committee; provided that
the per share purchase price shall not be less than 100% of the Fair Market Value of a share of Common Stock as of the applicable grant date. 

(b) Option Period and Exercisability. The period during which an option may be exercised shall be determined by the Committee. The
Committee may, in its discretion, establish 
  

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Performance Measures which shall be satisfied or met as a condition to the grant of an option or to the exercisability of all or a portion of an option. The Committee shall determine whether an
option shall become exercisable in cumulative or non-cumulative installments and in part or in full at any time. An exercisable option, or portion thereof, may be exercised only with respect to whole shares of Common Stock. 

(c) Method of Exercise. An option may be exercised (i) by giving written notice to the Company specifying the number of whole
shares of Common Stock to be purchased and accompanied by payment therefor in full (or arrangement made for such payment to the Company’s satisfaction) either (A) in cash, (B) by delivery (either actual delivery or by attestation
procedures established by the Company) of shares of Common Stock having an aggregate Fair Market Value, determined as of the date of exercise, equal to the aggregate purchase price payable by reason of such exercise, (C) by authorizing the
Company to withhold a number of shares of Common Stock otherwise issuable to the holder having an aggregate Fair Market Value, determined as of the date of exercise, equal to the aggregate purchase price payable by reason of such exercise,
(D) in cash by a broker-dealer acceptable to the Company to whom the Optionee has submitted an irrevocable notice of exercise (if the Common Stock has been registered under the Exchange Act and is publicly traded) or (E) a combination of
(A), (B), (C) and (D), in each case to the extent set forth in the Agreement relating to the option and (ii) by executing such documents as the Company may reasonably request. The Company shall have sole discretion to disapprove of an
election pursuant to any of clauses (B)-(E). Any fraction of a share of Common Stock which would be required to pay such purchase price shall be disregarded and the remaining amount due shall be paid in cash by the Optionee. No certificate
representing Common Stock shall be delivered until the full purchase price therefor has been paid (or arrangement made for such payment to the Company’s satisfaction). 

(d) Other Terms and Conditions. The Committee may prescribe such other terms and conditions relating to the grant or the exercise
of options as it may deem appropriate, to the extent not inconsistent with this Plan, including, but not limited to (i) restrictions on the sale, transfer, pledge or other disposition of Stock acquired pursuant to the exercise of options
granted hereunder, (ii) provisions giving the Company or its designees rights of redemption, repurchase or first refusal with respect to any Stock acquired pursuant to the exercise of options granted hereunder, (iii) a requirement that the
Optionee become a party to any then effective shareholders’ agreement, (iv) a requirement that the Optionee execute a non-competition agreement in such form as the Committee may prescribe, (v) a requirement that Common Stock be held
in escrow for such periods as the Committee shall determine and (vi) a requirement that an Optionee make certain investment or other representations or that shares of Common Stock bear such legend as the Committee may deem appropriate for the
protection of the Company under federal and state securities laws or otherwise. 
 2.3 Termination of Employment or
Service. Subject to the requirements of the Code, all of the terms relating to the exercise, cancellation or other disposition of an option upon a termination of employment with or service to the Company of the holder of such option whether
by reason of Disability, retirement, death or any other reason, shall be determined by the Committee. 
  

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 III. GENERAL 

3.1 Effective Date and Term of Plan. This Plan became effective on June 21, 2010. This Plan shall terminate on
June 21, 2020 unless terminated earlier by the Board. Termination of this Plan shall not affect the terms or conditions of any award granted prior to termination. 

3.2 Amendments. The Board may amend this Plan at any time as it shall deem advisable; provided, however, that
no amendment may impair the rights of a holder of an outstanding award without the consent of such holder. 
 3.3
Agreement. Each award under this Plan shall be evidenced by an Agreement setting forth the terms and conditions applicable to such award. No award shall be valid until an Agreement is executed by the Company and the recipient of such
award and, upon execution by each party and delivery of the Agreement to the Company, such award shall be effective as of the effective date set forth in the Agreement. 

3.4 Non-Transferability of Awards. Unless otherwise specified in the Agreement relating to an award, no award shall be
transferable other than by will, the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company. Except to the extent permitted by the foregoing sentence or the Agreement relating to an award, each
award may be exercised or settled during the holder’s lifetime only by the holder or the holder’s legal representative or similar person. Except to the extent permitted by the second preceding sentence or the Agreement relating to an
award, no award may be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Any attempt to so sell, transfer,
assign, pledge, hypothecate, encumber or otherwise dispose of any such award shall be null and void. Notwithstanding the foregoing or any provision of the Plan or the Agreement, each Optionee shall be subject to and bound by all the provisions of
any shareholders agreement, including any and all restrictions on transfers, in effect from time to time. 
 3.5 Tax
Withholding. The Company shall have the right to require, prior to the issuance or delivery of any shares of Common Stock or the payment of any cash pursuant to an award made hereunder, payment by the holder of such award of any federal,
state, local or other taxes which may be required to be withheld or paid in connection with such award. An Agreement may provide that (i) the Company shall withhold whole shares of Common Stock which would otherwise be delivered to a holder,
having an aggregate Fair Market Value determined as of the date the obligation to withhold or pay taxes arises in connection with an award (the “Tax Date”), or withhold an amount of cash which would otherwise be payable to a holder,
in the amount necessary to satisfy any such obligation or (ii) the holder may satisfy any such obligation by any of the following means: (A) a cash payment to the Company, (B) delivery (either actual delivery or by attestation
procedures established by the Company) to the Company of shares of Common Stock having an aggregate Fair Market Value, determined as of the Tax Date, equal to the amount necessary to satisfy any such obligation, (C) authorizing the Company to
withhold whole shares of Common Stock which would otherwise be delivered having an aggregate Fair Market Value, determined as of the Tax Date, or withhold an amount of cash which would otherwise be payable to a holder, equal to the amount necessary
to satisfy any such obligation, (D) a cash payment by a broker-dealer acceptable to the Company to whom the 
  

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Optionee has submitted an irrevocable notice of exercise (if the Common Stock has been registered under the Exchange Act and is publicly traded) or (E) any combination of (A), (B),
(C) and (D), in each case to the extent set forth in the Agreement relating to the award; provided, however, that the Company shall have sole discretion to disapprove of an election pursuant to any of clauses (B)-(E). Shares of
Common Stock to be delivered or withheld pursuant to this Section 3.5 may not have an aggregate Fair Market Value in excess of the amount determined by applying the minimum statutory tax withholding rate. Any fraction of a share of Common Stock
which would be required to satisfy such an obligation shall be disregarded and the remaining amount due shall be paid in cash by the holder. 

3.6 Restrictions on Shares. Each award made hereunder shall be subject to the requirement that if at any time the Company
determines that the listing, registration or qualification of the shares of Common Stock subject to such award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is
necessary or desirable as a condition of, or in connection with, the exercise or settlement of such award or the delivery of shares thereunder, such award shall not be exercised or settled and such shares shall not be delivered unless such listing,
registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company. The Company may require that certificates evidencing shares of Common Stock delivered pursuant
to any award made hereunder bear a legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited except in compliance with the Securities Act of 1933, as amended, and the rules and regulations thereunder. The
Company also may require that any shares of Common Stock purchased pursuant to the exercise of an option awarded hereunder shall be subject to repurchase by the Company upon such terms and conditions prescribed by the Company. 

3.7 Adjustment. In the event of any stock split, stock dividend, recapitalization, reorganization, merger, consolidation,
combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common Stock other than a regular cash dividend, the number and class of securities available under this
Plan, the number and class of securities subject to each outstanding option and the purchase price per security shall be appropriately adjusted by the Board. The decision of the Board regarding any such adjustment shall be final, binding and
conclusive. If any such adjustment would result in a fractional security being (a) available under this Plan, such fractional security shall be disregarded, or (b) subject to an award under this Plan, the Company shall pay the holder of
such award, in connection with the exercise of such award in whole or in part occurring after such adjustment, an amount in cash determined by multiplying (i) the fraction of such security (rounded to the nearest hundredth) by (ii) the
excess, if any, of (A) the Fair Market Value on the exercise date over (B) the exercise price of such award. 
 3.8
Corporate Transaction. In the event of a Corporate Transaction, the Board (as constituted prior to such Corporate Transaction) may, in its discretion: 

(a) provide that some or all outstanding options become exercisable in full or in part, either upon the consummation of
the Corporate Transaction or upon a termination of employment following the Corporate Transaction; 
  

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 (b) require that shares of capital stock of the corporation resulting from
such Corporate Transaction, or a parent corporation thereof, be substituted for some or all of the shares of Common Stock subject to an outstanding option, with an appropriate and equitable adjustment to such award as determined by the Board in
accordance with Section 3.7; and/or 
 (c) require each option to be surrendered to the Company and to be
immediately cancelled by the Company, and to provide for each Optionee to receive either (i) a cash payment from the Company in an amount equal to the number of shares of Common Stock then subject to such option, whether or not vested and
exercisable, multiplied by the excess, if any, of the greater of (A) the highest per share price offered to holders of Common Stock in any transaction whereby the Corporate Transaction takes place or (B) the Fair Market Value of a share of
Common Stock on the date of occurrence of the Corporate Transaction, over the exercise price per share of Common Stock subject to the option or (ii) shares of stock into which each outstanding share of Common Stock shall be converted pursuant
to such Corporate Transaction having a Fair Market Value equal to the amount determined under clause (i) above. 
 3.9
No Right of Participation or Employment. No person shall have any right to participate in this Plan. Neither this Plan nor any award made hereunder shall confer upon any person any right to continued employment by the Company or any
affiliate of the Company or affect in any manner the right of the Company or any affiliate of the Company to terminate the employment of any person at any time without liability hereunder. 

3.10 Rights as Stockholder. No person shall have any right as a stockholder of the Company with respect to any shares of
Common Stock or other equity security of the Company which is subject to an award hereunder unless and until such person becomes a stockholder of record with respect to such shares of Common Stock or equity security. Any rights of such person as a
stockholder of record shall be subject to any restrictions set forth in a stockholders agreement, the Agreement or any other agreement between the Company and such person. 

3.11 Governing Law. This Plan, each award hereunder and the related Agreement, and all determinations made and actions
taken pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by the laws of the State of Indiana and construed in accordance therewith without giving effect to principles of conflicts
of laws. 
  

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 IN WITNESS WHEREOF, Da-Lite Screen Company, Inc. has caused this plan to be executed by its
duly authorized officer as of this 21st day of June, 2010. 
  

			
	DA-LITE SCREEN COMPANY, INC.
		
	By:	 	 /s/ Richard E. Lundin

	Name:	 	Richard E. Lundin
	Title:	 	Chairman & CEO

  

 8Form of Options Award Agreement

 Exhibit 10.2 

DA-LITE SCREEN COMPANY, INC. 2010 STOCK OPTION PLAN 

NONQUALIFIED STOCK OPTION AGREEMENT 

Da-Lite Screen Company, Inc., an Indiana corporation (the “Company”), hereby grants to
                     (the “Optionee”) as of June     , 2010 (the “Option Date”),
pursuant to provisions of the Da-Lite Screen Company, Inc. 2010 Stock Option Plan (the “Plan”), a nonqualified option to purchase from the Company (the “Option”) 3,000 shares (the “Option Shares”)
of its Common Stock, $0.001 par value, (“Stock,” it being understood that such number of Option Shares and the definition of Stock gives effect to the pending split of the Company’s common stock), at the price of $17.62 (the
“Exercise Price”) per share upon and subject to the terms and conditions set forth below. Capitalized terms not defined herein shall have the meanings specified in the Plan. 

1. Option Subject to Acceptance of Agreement. The Option shall be null and void unless the Optionee shall accept this Agreement by
executing it in the space provided below and returning such original execution copy to the Company within 90 days after the Option Date. Such acceptance shall not be effective unless and until the Optionee shall within such 90-day period execute and
deliver to the Company the Confidentiality and Non-Competition Agreement delivered to the Optionee herewith. 
 2. Time and
Manner of Exercise of Option. 
 2.1. Maximum Term of Option. In no event may the Option be
exercised, in whole or in part, after the fifth
(5th) anniversary of the Option Date (the
“Expiration Date”). 
 2.2. Exercise of Option. 

(a) The Option is fully vested and exercisable upon issuance. 

(b) If the Optionee’s employment is terminated for Cause or the Optionee voluntarily terminates his or her employment, other than
due to Retirement pursuant to Section 2.2(d), the Option shall terminate automatically on the effective date of the Optionee’s termination of employment. 

(c) If the Optionee’s employment with the Company terminates by reason of Disability or death, the Option shall be vested and
exercisable only to the extent it is vested and exercisable on the date of the Optionee’s death or the effective date of the Optionee’s termination of employment due to Disability, as the case may be, and may thereafter be exercised by the
Optionee or the Optionee’s Legal Representative until and including the earlier to occur of (i) the date which is one year after the effective date of the Optionee’s death or termination of employment and (ii) the Expiration
Date. 

 (d) If the Optionee’s employment with the Company terminates for any reason other than
Cause, voluntary resignation prior to Retirement, Disability or death, including termination by the Company without Cause or voluntary resignation upon Retirement, the Option shall be vested and exercisable only to the extent it is vested and
exercisable on the effective date of the Optionee’s termination of employment, and may thereafter be exercised by the Optionee until and including the earlier to occur of (i) the date which is three months after the effective date of the
Optionee’s termination of employment and (ii) the Expiration Date. For purposes of this Agreement, “Retirement” shall mean the Optionee’s termination of employment on or after the attainment of age 62. 

(e) If the Optionee breaches the provisions of Section 5 hereof at any time, the Option shall terminate automatically upon such
breach. 
 2.3. Method of Exercise. Subject to the limitations set forth in this Agreement, the Option, to the extent
vested and exercisable, may be exercised by Optionee (a) by delivering to the Company a written notice in such form as may be required by the Committee specifying the number of whole shares of Common Stock to be purchased and by accompanying
such notice with payment therefor in full (or by arranging for such payment to the Company’s satisfaction) either (i) in cash, (ii) by delivery to the Company (either actual delivery or by attestation procedures established by the
Company) of shares of Common Stock having an aggregate Fair Market Value, determined as of the date of exercise, equal to the aggregate purchase price payable pursuant to the Option by reason of such exercise, (iii) authorizing the Company to
withhold whole shares of Common Stock which would otherwise be delivered having an aggregate Fair Market Value, determined as of the date of exercise, equal to the amount necessary to satisfy such obligation, (iv) if the Common Stock is then
publicly traded, in cash by a broker-dealer acceptable to the Company to whom Optionee has submitted an irrevocable notice of exercise or (v) by a combination of (i), (ii), (iii) and (iv), and (b) by executing such documents as the
Company may reasonably request. The Company shall have sole discretion to disapprove of an election pursuant to any of clauses (ii) through (v). Any fraction of a share of Common Stock which would be required to pay such purchase price shall be
disregarded and the remaining amount due shall be paid in cash by Optionee. No certificate representing a share of Common Stock shall be issued or delivered until the full purchase price therefor and any withholding taxes thereon, as described in
Section 3.3, have been paid. If shares of Common Stock have not been registered under the Securities Act at the time the Option is exercised, Optionee shall, if required by the Company, concurrently with the exercise of all or a portion of the
Option, deliver to the Company an executed investment representation statement in such form as may be required by the Company. 

2.4. Termination of Option. In no event may the Option be exercised after it terminates as set forth in this Section 2.4. The
Option shall terminate, to the extent not exercised pursuant to Section 2.3 or earlier terminated pursuant to Section 2.2, on the Expiration Date. 
  

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 3. Additional Terms and Conditions of the Option. 

3.1. Nontransferability of Option. The Option may not be transferred by the Optionee, absent consent by the Committee, other than
by will or the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company. Except to the extent permitted by the foregoing sentence, during the Optionee’s lifetime the Option is exercisable only
by the Optionee or the Optionee’s Legal Representative. Except to the extent permitted by the foregoing, the Option may not be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law
or otherwise) or be subject to execution, attachment or similar process. Any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of the Option shall be null and void. Notwithstanding the foregoing or any other
provision of this Agreement or the Plan, the Optionee shall be subject to and bound by all the provisions of any shareholders agreement, including any and all restrictions on transfer, in effect from time to time. As a condition precedent to any
exercise of the Option, the Optionee shall execute an assumption agreement or other documents specified by the Company further evidencing Optionee’s obligations under any such shareholders agreement. 

3.2. Investment Representation. The Optionee hereby represents and covenants that (a) any share of Stock purchased upon
exercise of the Option will be purchased for investment and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), unless such purchase has been registered
under the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such shares shall be made either pursuant to an effective registration statement under the Securities Act and any applicable state securities
laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Optionee shall submit a written statement, in form satisfactory to the Company, to the effect
that such representation (i) is true and correct as of the date of purchase of any shares hereunder or (ii) is true and correct as of the date of any sale of any such shares, as applicable. As a further condition precedent to any exercise
of the Option, the Optionee shall comply with all regulations and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the shares and, in connection therewith, shall execute any documents which
the Committee shall in its sole discretion deem necessary or advisable. 
 3.3. Withholding Taxes. (a) As a
condition precedent to the issuance of Common Stock upon exercise of the Option, the Optionee shall, upon request by the Company, pay to the Company in addition to the purchase price of the shares, such amount as the Company may be required, under
all applicable federal, state, local or other laws or regulations, to withhold and pay over as income or other withholding taxes (the “Required Tax Payments”) with respect to such exercise of the Option. If the Optionee shall fail
to advance the Required Tax Payments after request by the Company, the Company may, in its discretion, deduct any Required Tax Payments from any amount then or thereafter payable by the Company to the Optionee. 

(b) The Optionee may elect to satisfy his or her obligation to advance the Required Tax Payments by any of the following means:
(1) a cash payment to the Company, 
  

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(2) delivery to the Company (either actual delivery or by attestation procedures established by the Company) of shares of Common Stock having an aggregate Fair Market Value, determined as of
the date the obligation to withhold or pay taxes arises in connection with the Option (the “Tax Date”), equal to the Required Tax Payments, (3) authorizing the Company to withhold whole shares of Common Stock which would otherwise be
issued to the Optionee upon exercise of the Option having an aggregate Fair Market Value, determined as of the Tax Date, equal to the Required Tax Payments, (4) if the Common Stock is then publicly traded, a cash payment by a broker-dealer
acceptable to the Company to whom the Optionee has submitted an irrevocable notice of exercise or (5) any combination of (1), (2), (3) and (4). The Company shall have sole discretion to disapprove of an election pursuant to any of clauses
(2) through (5). Shares of Common Stock to be delivered or withheld may not have a Fair Market Value in excess of the minimum amount of the Required Tax Payments. Any fraction of a share of Common Stock which would be required to satisfy any
such obligation shall be disregarded and the remaining amount due shall be paid in cash by the Optionee. No certificate representing a share of Common Stock shall be issued or delivered until the Required Tax Payments have been satisfied in full.

 3.4. Adjustment. In the event of any stock split, stock dividend, recapitalization, reorganization, merger,
consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Stock other than a regular cash dividend, the number and class of securities subject to the
Option and the purchase price per security shall be appropriately adjusted by the Board. If any adjustment would result in a fractional security being subject to the Option, the Company shall pay the Optionee, in connection with the first exercise
of the Option occurring after such adjustment, an amount in cash determined by multiplying (i) the fraction of such security (rounded to the nearest hundredth) by (ii) the excess, if any, of (A) the Fair Market Value on the exercise
date over (B) the exercise price of the Option. The decision of the Board regarding any such adjustment shall be final, binding and conclusive. 

3.5. Corporate Transaction. In the event of a Corporate Transaction, the Board (as constituted immediately prior to such Corporate
Transaction) may, in its discretion: 
 (a) require the substitution for each share of Stock subject to the Option the number
and class of shares, if any, into which each outstanding share of Stock shall be converted pursuant to such Corporate Transaction. In the event of any such substitution, the purchase price per share of Stock shall be appropriately adjusted by the
Board, such adjustments to be made without an increase in the aggregate purchase price; or 
 (b) require the Option to be
surrendered to the Company by the Optionee, and to be immediately canceled by the Company, and to provide for the Optionee to receive either (i) a cash payment in an amount equal to the number of shares of Stock then subject to the Option,
multiplied by the excess, if any, of the greater of (A) the highest per share price offered to stockholders of the Company in any transaction whereby the Corporate Transaction takes place or (B) the Fair Market Value of a share of Stock on
the date of occurrence of the Corporate 
  

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Transaction, over the Exercise Price or (ii) shares of stock into which each outstanding share of Stock shall be converted pursuant to such Corporate Transaction having a Fair Market Value
equal to the amount determined under clause (i) above; or 
 (c) take any other action that the Board deems is reasonable
or appropriate under the circumstances. 
 3.6. Compliance with Applicable Law. The Option is subject to the condition
that if the listing, registration or qualification of the shares subject to the Option upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable as
a condition of, or in connection with, the purchase or delivery of shares hereunder, the Option may not be exercised, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or obtained,
free of any conditions not acceptable to the Company. 
 3.7. Delivery of Certificates. Upon the exercise of the Option,
in whole or in part, the Company shall deliver or cause to be delivered one or more certificates representing the number of shares purchased against full payment therefor. The Company shall pay all original issue or transfer taxes and all fees and
expenses incident to such delivery, except as otherwise provided in Section 3.3. 
 3.8. Option Confers No Rights as
Stockholder. The Optionee shall not be entitled to any privileges of ownership with respect to shares of Stock subject to the Option unless and until purchased and delivered upon the exercise of the Option, in whole or in part, and the Optionee
becomes a stockholder of record with respect to delivered shares; and the Optionee shall not be considered a stockholder of the Company with respect to any such shares not so purchased and delivered. Notwithstanding any provision of the Plan or this
Agreement, the Optionee shall be subject to and bound by all provisions of any shareholders agreement in effect from time to time and each other agreement between the Company and the Optionee. 

3.9. Option Confers No Rights to Continued Employment. In no event shall the granting of the Option or its acceptance by the
Optionee give or be deemed to give the Optionee any right to continued employment by the Company or any affiliate of the Company. 

3.10. Designation as Nonqualified Stock Option. The Option is hereby designated as not constituting an “incentive stock
option” within the meaning of section 422 of the Code. This Agreement shall be interpreted and treated consistently with such designation. 

3.11. Company to Reserve Shares. The Company shall at all times prior to the expiration or termination of the Option reserve and
keep available, either in its treasury or out of its authorized but unissued shares of Stock, the full number of shares subject to the Option from time to time. 
  

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 4. Restrictions on Transfer of Stock; Purchase Options. 

4.1. Purchase Option Upon Voluntary Transfer. If an Optionee intends to sell, assign or otherwise dispose of all or a portion of
his or her shares of Stock originally issued pursuant to the exercise of the Option to any person other than the Company, he or she shall obtain a written offer from the prospective purchaser or assignee, stating the number of shares to be purchased
or assigned, the price and the terms of purchase or assignment. The offer shall be signed by and shall state the address of the offeror. The Optionee shall give written notice (the “Transfer Notice”) to the Company of the Optionee’s
intention and shall attach thereto a copy of the offer. Within 90 days of the Company’s receipt of the Transfer Notice, the Company, or its designee, may exercise an option to purchase all or any portion of the shares proposed to be sold,
assigned or otherwise disposed of at the lower of the applicable price per share provided in paragraph 4.6 or the price per share specified in the Transfer Notice, and at the election of the Company, or its designee, such price shall be paid all in
cash or on the terms specified in the Transfer Notice. 
 4.2. Purchase Option Upon Death. Upon the death of an Optionee
who acquired shares of Stock originally issued pursuant to the exercise of the Option, the Company, or its designee, within 180 days after the later to occur of (i) the date of death or (ii) the date on which the Option is exercised, may
exercise an option to purchase all or any portion of such shares (including, but not limited to, any shares purchased pursuant to the Option exercised after the Optionee’s death or termination of employment) from the personal representative of
his or her estate at the applicable price per share provided in paragraph 4.6. 
 4.3. Purchase Option Upon Involuntary
Transfer. If, other than by reason of an Optionee’s death, shares of Stock originally issued pursuant to the exercise of the Option are transferred by operation of law to any person other than the Company (such as, but not limited to, an
Optionee’s trustee in bankruptcy, a purchaser at any creditor’s or court sale or the guardian or conservator of an incompetent Optionee), the Company, or its designee, within 120 days of the Company’s receipt of actual notice of the
transfer may exercise an option to purchase all or any portion of such shares so transferred at the applicable price per share provided in paragraph 4.6. The Optionee shall be required to give prompt notice to the Company of any transfer of
such shares by operation of law. 
 4.4. Purchase Option Upon Termination of Employment. Upon the termination of
employment with the Company of an Optionee who acquired shares of Stock originally issued pursuant to the exercise of the Option, the Company, or its designee, within 180 days after the later to occur of (i) the date of such termination or
(ii) the date on which the Option is exercised, may exercise an option to purchase all or any portion of such shares (including, but not limited to, any shares purchased pursuant to the Option exercised after the Optionee’s death or
termination of employment) from such Optionee at the applicable price per share provided in paragraph 4.6. 
 4.5. Exercise
of Purchase Options and Effect of Nonexercise of Options. The Company, or its designee, who exercises an option to purchase shares of Stock under one or more of the preceding paragraphs of this Section 4 shall do so by delivering written
notice of its 
  

 6 

 
exercise of the purchase option within the times provided in such paragraphs to the transferor under a paragraph 4.1 option, to the personal representative of a deceased Optionee’s
estate under a paragraph 4.2 option, to the transferee under a paragraph 4.3 option and to the terminated Optionee under a paragraph 4.4 option. If a purchase option is not exercised under one or more of the preceding paragraphs of this
Section 4, then in the case of a proposed transfer under paragraph 4.1, the shares may be transferred within ten days after the expiration of the 90-day option period to the transferee named in the Transfer Notice and upon the terms therein
stated, but subject in all events to the provisions of the Plan and this Section 4; and in the case of shares owned by the estate of a deceased Optionee under paragraph 4.2, or a transfer of shares under paragraph 4.3, the shares,
after the expiration of the 180-day option period shall remain in the hands of the estate or transferee, but subject in all events to the provisions of the Plan and this Section 4. If a purchase option under paragraph 4.4 is not exercised,
the shares subject thereto shall in all events continue to remain subject to the provisions of the Plan and this Section 4. If a purchase option is not exercised under one or more of the preceding paragraphs of this Section 4, then the
transferee under paragraphs 4.1 or 4.3 and the personal representative under paragraph 4.2, as the case may be, shall within 20 days after the expiration of the applicable purchase option period deliver to the Company its agreement, in
form and substance satisfactory to the Company, to comply with the terms of the Plan and the restrictions on transfer, purchase options, negative pledge and other provisions of this Section 4. 

4.6. Purchase Price. The purchase price per share of Stock being acquired under paragraphs 4.1 (other than an election under
paragraph 4.1 to pay the price specified in the Transfer Notice), 4.2, 4.3 and 4.4 shall be equal to the Fair Market Value per share of Stock on the purchase date as determined by the Committee in good faith. 

4.7. The Closing. If a purchase option is exercised under this Section 4, the closing of such purchase shall occur within 120
days of the notice of such exercise, at a date, time and place to be designated by the purchaser. At the closing, the purchaser shall tender the required purchase price in cash against delivery of duly endorsed certificates for the shares, subject
to any obligation to deliver such certificates to a pledgee or other holder of a security interest herein. 
 4.8. Pledge of
Shares Prohibited. No Optionee shall pledge, hypothecate or otherwise encumber or use any of his or her shares of Stock originally issued pursuant to the exercise of the Option as security for any loan, except upon the written consent of the
Company. 
 4.9. Legend on Certificates. All shares of Stock now or hereafter owned by the Optionees which were
originally issued pursuant to the exercise of the Option shall be subject to the provisions of the Plan and Section 4 of this Agreement, and the certificates representing such shares shall bear such legend as the Committee may prescribe to that
effect. Such legend may include a legend prescribed by the Committee to assist in compliance with federal and state securities laws. 

4.10. Remedies for Breach. Due to the irreparable damage the Company could suffer from a violation of this Section 4, the
Company shall have the remedies which are available to it for the violation of any of the terms of this Section 4, including, but not limited to, the equitable remedy of specific performance. 

 

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 4.11. Lapse of Transfer Restrictions. At such time, if any, as the Committee may
determine in its sole discretion, some or all of the provisions of this Section 4 shall terminate. 
 4.12. Shareholders
Agreements. Optionee hereby agrees that, upon the exercise of an Option pursuant to this Agreement, unless the Committee otherwise directs, Optionee shall become a party (if he or she is not already such a party) to any then effective
shareholders agreement which exists among a majority of the shareholders of the Company and shall become a party to any pledge agreement required to be executed pursuant thereto. Optionee shall be subject to and bound by all provisions of such
shareholders agreement, including any and all restrictions on transfers, and the restrictions and requirements of paragraphs 4.1 through 4.11 of this Agreement shall be in addition to those imposed by any such shareholders agreement. 

5. Noncompetition; Nonsolicitation; Confidential Information. 

In consideration for the Option granted pursuant to this Agreement, the Optionee hereby agrees as follows: 

5.1. Noncompetition; Nonsolicitation. 

(a) General. Optionee acknowledges that in the course of Optionee’s employment with the Company, the Optionee has and will
become familiar with trade secrets and other confidential information concerning the Company and its subsidiaries and that the Optionee’s services are of special, unique and extraordinary value to the Company and its subsidiaries. 

(b) Noncompetition. Optionee agrees, to the fullest extent permitted by applicable law, that during the period of Optionee’s
employment with the Company, and for a period of two years thereafter (collectively, the “Noncompetition Period”), Optionee shall not in any manner, directly or indirectly, through any individual or entity, alone or as a member of
an entity, or as an officer, director, stockholder, investor, partner, member, manager or employee of or consultant to any entity or otherwise, engage or be engaged, or assist any other individual or entity in engaging or being engaged, in the
Business in the Geographic Area. The “Business” means the manufacture, distribution or sale of meeting room products of the same general type as the Company or its subsidiaries manufacture, distribute or sell, including (without
limitation) in the categories of projection screens, audio-visual carts, stands or mounts, easels, lecterns (but, for the avoidance of doubt, excluding podiums that are not lecterns), conference cabinets or screen fabric, or products which compete
with such products manufactured, distributed or sold by the Company or its subsidiaries. The “Geographic Area” shall mean any country or other area in which meeting room products are manufactured, distributed or sold, by the Company
or any of its subsidiaries during the term of Optionee’s employment by the Company, including (without limitation) the United States, Canada, the Netherlands, France, other parts of Europe, Japan, China, other parts of East Asia, South Asia,
Australia, New Zealand, Mexico, Central America, South America, the Middle East and Africa. 
  

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 (c) Nonsolicitation. Optionee further agrees, to the fullest extent permitted by
applicable law, that during the Noncompetition Period Optionee shall not (i) in any manner, directly or indirectly, induce or attempt to induce any employee of the Company or any of its subsidiaries to terminate, abandon or modify his or her
employment for any purpose whatsoever or (ii) as part of Optionee’s directly or indirectly engaging in a Business defined in Section 5.2 above, call on, service, solicit or otherwise do business with any customer of the Company or any
of its subsidiaries. 
 (d) Exceptions. Nothing in this Section 5 shall prohibit Optionee from being (i) a
stockholder in a mutual fund or a diversified investment company or (ii) an owner of not more than two percent of the outstanding shares of any class of any securities of which are publicly traded, so long as Optionee has no active
participation in the business of such entity. Furthermore, Optionee may, after termination of employment with the Company, become an employee or consultant to any entity engaged in the Business so long as (a) not more than 20% of such
entity’s revenues for any period in which Optionee so serves with such entity are generated by activities relating to the Business and (b) Optionee’s activities with such entity relate solely to activities other than the Business.

 (e) Reformation. If, at any time of enforcement of this Section 5.1, a court or an arbitrator holds that the
restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area
and that the court or arbitrator shall be allowed to revise the restrictions contained herein to cover the maximum period, scope and area permitted by law. 

5.2. Confidentiality. Optionee shall not, at any time during Optionee’s employment by the Company or thereafter, make use of
or disclose, directly or indirectly, and (i) trade secret or other confidential or secret information of the Company or of any of its subsidiaries or (ii) other technical, business, proprietary or financial information of the Company or of
any of its subsidiaries not available to the public generally or to the competitors of the Company or to the competitors of any of its subsidiaries (“Confidential Information”), except to the extent that such Confidential
Information (a) becomes a matter of public record or is published in a newspaper, magazine or other periodical or on electronic or other media available to the general public, other than as a result of any act or omission of Optionee,
(b) is required to be disclosed by any law, regulation or order of any court or regulatory commission, department or agency, provided that Optionee gives prompt notice of such requirement to the Company to enable the Company to seek an
appropriate protective order, or (c) is required to be used or disclosed by Optionee to perform properly Optionee’s duties under this Agreement. Promptly following the termination of Optionee’s employment by the Company, Optionee
shall surrender to the Company all records, memoranda, notes, plans, reports, computer tapes and software and other documents and data which constitute Confidential Information which Optionee may then posses or have under Optionee’s control
(together with all copies thereof). 
  

 9 

 5.3. Inventions. All discoveries and improvements, patentable or otherwise, trade
secret and ideas, writings and copyrightable material, which may conceived by Optionee or developed or acquired by Optionee during Optionee’s employment with the Company, which may pertain directly or indirectly to the business of the Company
or any of its subsidiaries, are the sole and absolute property of the Company and are “works made for hire” as that term is defined in the copyright laws of the United States. Optionee hereby assigns to the Company Optionee’s entire
right, title and interest in and to all such developments and agrees to disclose fully all such developments to the Company upon its request, which disclosure shall be made in writing promptly following any such request. Optionee shall, upon the
Company’s request, execute, acknowledge and deliver to the Company all instruments and do all other acts which are necessary or desirable to enable the Company or any of its subsidiaries to file and prosecute applications for, and to acquire,
maintain and enforce, all patents, trademarks and copyrights in all countries. 
 6. Miscellaneous Provisions.

 6.1. Decisions of Committee. The Committee shall have the right to resolve all questions which may arise in connection
with the Option or its exercise. Any interpretation, determination or other action made or taken by the Committee regarding the Plan or this Agreement shall be final, binding and conclusive. 

6.2. Meaning of Certain Terms. 

(a) References in this Agreement to sections of the Code shall be deemed to refer to any successor section of the Code or any successor
internal revenue law. 
 (b) As used herein, the term “Legal Representative” shall include an executor,
administrator, legal representative, guardian or similar person. 
 6.3. Successors. This Agreement shall be binding upon
and inure to the benefit of any successor or successors of the Company and any person or persons who shall, upon the death of the Optionee, acquire any rights hereunder in accordance with this Agreement or the Plan. 

6.4. Notices. All notices, requests or other communications provided for in this Agreement shall be made in writing either
(a) by personal delivery to the party entitled thereto, (b) by facsimile with confirmation of receipt, (c) by mailing in the United States mail to the last known address of the party entitled thereto or (d) by express courier
service. The notice, request or other communication shall be deemed to be received upon personal delivery, upon confirmation or of receipt of facsimile transmission or upon receipt by the party entitled thereto if by United States mail or express
courier service; provided, however, that if a notice, request or other communication sent to the Company is not received during regular business hours, it shall be deemed to be received on the next succeeding business day of the Company. 

 

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 6.5. Partial Invalidity. The invalidity or unenforceability of any particular
provision of this Agreement shall not affect the other provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted. 

6.6. Governing Law. This Agreement, the Option and all determinations made and actions taken pursuant hereto and thereto, to the
extent not governed by the laws of the United States, shall be governed by the laws of the State of Indiana and construed in accordance therewith without giving effect to principles of conflicts of laws. 

6.7. Agreement Subject to the Plan. This Agreement is subject to the provisions of the Plan, and shall be interpreted in
accordance therewith. The Optionee hereby acknowledges receipt of a copy of the Plan. 
 6.8. Counterparts. This
Agreement may be executed in two counterparts each of which shall be deemed an original and both of which together shall constitute one and the same instrument. 

 

			
	DA-LITE SCREEN COMPANY, INC.
		
	By:	 	  

Accepted this      day of 

                         
           ,           . 

                         
                    
 Optionee

  

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