Document:

Exhibit

EXHIBIT 10.3

OMNIBUS LIMITED CONSENT AND AMENDMENT NO. 3 TO CREDIT, SECURITY AND GUARANTY AGREEMENT AND AMENDMENT NO. 2 TO PLEDGE AGREEMENT
This OMNIBUS LIMITED CONSENT AND AMENDMENT NO. 3 TO CREDIT, SECURITY AND GUARANTY AGREEMENT AND AMENDMENT NO. 2 TO PLEDGE AGREEMENT (this “Amendment”) is made as of this 13th day of February, 2018, by and among WRIGHT MEDICAL GROUP N.V., a public limited liability company organized and existing under the laws of the Netherlands with its corporate seat (statutaire zetel) in Amsterdam and registered with the Dutch trade register under number 34250781, as a Guarantor (“Parent”), WRIGHT MEDICAL GROUP, INC., a Delaware corporation (“Wright”), each of the direct and indirect Subsidiaries of Parent set forth on the signature pages hereto (individually as a “Borrower”, and collectively with Wright, the “Borrowers”), MIDCAP FUNDING IV TRUST, a Delaware statutory trust, individually as a Lender, and as Agent (in such capacity, together with its successors and assigns, “Agent”) and the other financial institutions or other entities from time to time parties to the Credit Agreement referenced below, each as a Lender.
RECITALS
A.Agent, Lenders, Parent and Borrowers have entered into that certain Credit, Security and Guaranty Agreement, dated as of December 23, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, including by that certain Amendment No. 1 to Credit, Security and Guaranty Agreement, dated as of February 2, 2017 and that certain Limited Consent and Amendment No. 2 to Credit, Security and Guaranty Agreement, dated as of December 14, 2017, the “Original Credit Agreement”; the Original Credit Agreement, as amended hereby, the “Credit Agreement”), pursuant to which the Lenders have agreed to make certain advances of money and to extend certain financial accommodations to Borrowers in the amounts and manner set forth in the Credit Agreement.
B.Parent, certain of its direct and indirect Subsidiaries party thereto (together with Parent, the “Pledgors”) and Agent have entered into that certain Pledge Agreement, dated as of December 23, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, including by that certain Pledge Amendment, dated as of December 19, 2017, the “Original Pledge Agreement”; the Original Pledge Agreement, as amended hereby, the “Pledge Agreement”), pursuant to which the Pledgors have granted to Agent a security interest in certain equity interests set forth therein to secure the Obligations under the Credit Agreement. 
C.Parent and certain of its Subsidiaries desire to consummate a corporate reorganization (the “TMG Reorganization”) pursuant to which Parent will (i) convert certain indebtedness in an aggregate principal amount of €66,023,500 owing to Parent from TMG France SNC (“TMG”) into additional ordinary shares of TMG (the “TMG Investment”) and (ii) in one or more related transactions on or after the date of this Agreement, contribute all or substantially all of the equity interests of TMG to Felding Finance B.V. (the “TMG Disposition”), in each case, pursuant to the steps set forth in the final restructuring plan most recently delivered by Borrower to Agent prior to the date hereof (the “TMG Reorganization Plan”);

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

D.Parent and the Borrowers have requested that (i) Agent consent to the TMG Reorganization and (ii) Agent and the Lenders constituting at least the Required Lenders (a) amend certain terms of the Original Credit Agreement related to the TMG Reorganization, and (b) amend certain terms of the Original Pledge Agreement related to the TMG Reorganization, including the release of Agent’s security interest in the Released Collateral (defined below), and, on and subject to the conditions and terms set forth herein, (i) the Agent has agreed to consent to the TMG Reorganization and (ii) Agent and the Lenders constituting at least the Required Lenders have agreed to (a) so amend the Original Credit Agreement and (b) so amend the Original Pledge Agreement, as more fully set forth and subject to the terms and conditions herein.  
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, the Required Lenders, Parent and Borrowers hereby agree as follows:
1.Defined Terms; Recitals.  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement (including those capitalized terms used in the Recitals hereto). The Recitals set forth above shall be construed as part of this Amendment as if set forth fully in the body of this Amendment.  
2.Limited Consent and Approval.  
(a)Subject to the satisfaction of the conditions and accordance with the terms set forth in this Amendment, including, without limitation, the satisfaction of the conditions set forth in Section 6 hereof, Agent hereby approves the TMG Reorganization as required by the definition of “Permitted Internal Reorganization” in the Credit Agreement; provided, that (a) the TMG Reorganization shall be consummated, in all material respects, in accordance with the terms of the TMG Reorganization Plan. 
(b)Agent hereby approves and agrees that (i) the TMG Investment is a Permitted Investment pursuant to clause (q) thereof and (ii) the TMG Disposition is a Permitted Asset Disposition pursuant to clause (m) thereof (the approvals set forth in clauses (a) and (b), collectively, the “Limited Consent”).  
(c)The Limited Consent is effective solely for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (i) except as expressly provided herein, be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any other Financing Document; (ii) prejudice any right that Agent or the Lenders have or may have in the future under or in connection with the Credit Agreement or any other Financing Document; (iii) waive any Default and/or Event of Default that may exist and is continuing as of the date hereof; or (iv) establish a custom or course of dealing among the Parent and Borrowers, on the one hand, or Agent or any Lender, on the other hand.  Other than as explicitly set forth herein, Agent has not approved, and will not be deemed to have approved, any transaction ancillary to or entered into in connection with the TMG Reorganization.  

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

3.Amendments to the Original Credit Agreement.  Subject to the terms and conditions of this Amendment, including, without limitation, the satisfaction of the conditions set forth in Section 6 hereof, the Original Credit Agreement is hereby amended as follows:  
(a)The definition of “Excluded Property” in Section 1.1 of the Original Credit Agreement is hereby amended by deleting clause (f) in its entirety and replacing it with the following:
 “(f) any equity interests of Wright Medical Europe C.V. and TMG France SNC; and”.
4.Amendments to the Original Pledge Agreement.  
(a)Schedule I of the Original Pledge Agreement is hereby amended by deleting such schedule in its entirety and replacing it with the attached Schedule I.
(b)Agent, without recourse, representation or warranty and at Credit Parties’ sole cost and expense, hereby releases all of its right, title and interest in and to all ordinary shares of TMG pledged to Agent by Parent (the “Released Collateral”).
5.Representations and Warranties.  Each Credit Party hereby confirms that all of the representations and warranties set forth in the Credit Agreement are true and correct in all material respects (without duplication of any materiality qualifier in the text of such representation or warranty) with respect to such Credit Party as of the date hereof, except to the extent that any such representation or warranty relates to a specific date in which case such representation or warranty shall be true and correct in all material respects as of such earlier date (without duplication of any materiality qualifier in the text of such representation or warranty).
6.Conditions to Effectiveness.  This Amendment shall become effective as of the date on which each of the following conditions have been satisfied, as determined by Agent in its reasonable discretion: 
(a)The Agent shall have received (including by way of facsimile or other electronic transmission) a duly authorized, executed and delivered counterpart of the signature page to this Amendment from each Credit Party, the Agent and the Required Lenders; 
(b)all representations and warranties of the Credit Parties contained herein shall be true and correct in all material respects (without duplication of any materiality qualifier in the text of such representation or warranty) as of the date hereof, except to the extent that any such representation or warranty relates to a specific date in which case such representation or warranty shall be true and correct in all material respects as of such earlier date (without duplication of any materiality qualifier in the text of such representation or warranty) (and such parties’ delivery of their respective signatures hereto shall be deemed to be its certification thereof); 
(c)both immediately before and after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing or result therefrom; and
(d)the Credit Parties shall have delivered such other documents, information, certificates, records, permits, and filings as Agent may reasonably request. 

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

7.Costs and Fees.  Parent and Borrowers shall be responsible for the payment of all reasonable, documented and invoiced out-of-pocket costs and fees of Agent’s counsel incurred in connection with the preparation, negotiation, execution and delivery of this Amendment and any related Financing Documents.
8.No Waiver or Novation.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver of any right, power or remedy of Agent, nor constitute a modification or waiver of any provision of the Credit Agreement, the Financing Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing.  Nothing herein is intended or shall be construed as a waiver of any existing Defaults or Events of Default under the Credit Agreement or other Financing Documents or any of Agent’s rights and remedies in respect of such Defaults or Events of Default.  This Amendment (together with any other document executed in connection herewith) is not intended to be, nor shall it be construed as, a novation of the Credit Agreement.
9.Reaffirmation.  Except as specifically amended pursuant to the terms hereof, each Credit Party hereby acknowledges and agrees that the Credit Agreement and all other Financing Documents (and all covenants, terms, conditions and agreements therein) shall remain in full force and effect, and are hereby ratified and confirmed in all respects by such Credit Party.  Each Credit Party covenants and agrees to comply with all of the terms, covenants and conditions of the Credit Agreement and the Financing Documents, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions on Agent’s or any Lender’s part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and conditions.  Each Credit Party confirms and agrees that all security interests and Liens granted to Agent continue in full force and effect, and all Collateral remains free and clear of any Liens, other than those granted to Agent and Permitted Liens. 
10.Miscellaneous.
(a)Reference to the Effect on the Credit Agreement, the Pledge Agreement and Financing Documents.  On and after the date hereof, (i) this Amendment shall constitute a “Financing Document” under and as defined in the Credit Agreement and the other Financing Documents and (ii) each reference in the Credit Agreement or Pledge Agreement, as applicable, to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of similar import shall mean and be a reference to the Credit Agreement or the Pledge Agreement, as applicable, as amended by this Amendment.   
(b)Incorporation of Credit Agreement Provisions.  The provisions contained in Section 11.6 (Indemnification), Section 13.8 (Governing Law; Submission to Jurisdiction) and Section 13.9 (Waiver of Jury Trial) of the Credit Agreement are incorporated herein by reference to the same extent as if reproduced herein in their entirety.
(c)Headings.  Section headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
(d)Counterparts.  This Amendment may be signed in any number of counterparts, each of which shall be deemed an original and all of which when taken together shall constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment 

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

by facsimile or by electronic mail delivery of an electronic version (e.g., .pdf or .tif file) of an executed signature page shall be effective as delivery of an original executed counterpart hereof and shall bind the parties hereto. 
(e)Entire Agreement.    This Amendment constitutes the entire agreement and understanding among the parties hereto and supersedes any and all prior agreements and understandings, oral or written, relating to the subject matter hereof.
(f)Severability.  In case any provision of or obligation under this Amendment shall be invalid, illegal or unenforceable in any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.
(g)Successors/Assigns.  This Amendment shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the parties hereto, subject to the provisions of the Credit Agreement and the other Financing Documents.
[SIGNATURES APPEAR ON FOLLOWING PAGES]

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

IN WITNESS WHEREOF, intending to be legally bound, the undersigned have executed this Amendment of the day and year first hereinabove set forth.

	
			
	AGENT:
	MIDCAP FUNDING IV TRUST,
as Agent

	 
	 
	 

	 
	By:     Apollo Capital Management, L.P.,
its investment manager

	 
	 
	 

	 
	By:    Apollo Capital Management GP, LLC,
its general partner

	 
	 
	 

	 
	By:
	/s/ Maurice Amsellem

	 
	Name: Maurice Amsellem
Title: Authorized Signatory

	
			
	LENDERS:
	MIDCAP FUNDING IV TRUST,
as a Lender

	 
	 
	 

	 
	By:     Apollo Capital Management, L.P.,
its investment manager

	 
	 
	 

	 
	By:    Apollo Capital Management GP, LLC,
its general partner

	 
	 
	 

	 
	By:
	/s/ Maurice Amsellem

	 
	Name: Maurice Amsellem
Title: Authorized Signatory

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

	
			
	LENDERS:
	APOLLO INVESTMENT CORPORATION,
as a Lender

	 
	 
	 

	 
	By: Apollo Investment Management, L.P., as Advisor

	 
	 
	 

	 
	By: ACC Management, LLC, as its General Partner

	 
	 
	 

	 
	By:
	/s/ Tanner Powell

	 
	Name:
	Tanner Powell

	 
	Title:
	Authorized Signatory

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

	
			
	BORROWERS:
	BIOMIMETIC THERAPEUTICS CANADA, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President

	 
	 
	 

	 
	BIOMIMETIC THERAPEUTICS LLC,
as a Borrower and a Pledgor

	 
	By:
	/s/ Lance A. Berry

	 
	Name:
	Lance A. Berry

	 
	Title:
	Treasurer

	 
	 
	 

	 
	BIOMIMETIC THERAPEUTICS USA, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President

	 
	 

	 
	INBONE TECHNOLOGIES, INC.,
as a Borrower and a Pledgor

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President, Tax and Treasury

	 
	 

	 
	ORTHOHELIX SURGICAL DESIGNS, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Treasurer

	 
	 

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

	
			
	 
	ORTHOPRO, L.L.C.,
as a Borrower

	 
	By:
	/s/ Lance A. Berry

	 
	Name:
	Lance A. Berry

	 
	Title:
	President and Chief Financial Officer

	 
	 
	 

	 
	SOLANA SURGICAL, LLC,
as a Borrower

	 
	By:
	/s/ Lance A. Berry

	 
	Name:
	Lance A. Berry

	 
	Title:
	Senior Vice President, Chief Financial Officer

	 
	 
	 

	 
	TORNIER US HOLDINGS, INC.,
as a Borrower and a Pledgor

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Treasurer

	 
	 

	 
	TORNIER, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Treasurer

	 
	 

	 
	TROOPER HOLDINGS INC.,
as a Borrower and a Pledgor

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Treasurer

	 
	 

	 
	WHITE BOX ORTHOPEDICS, LLC,
as a Borrower

	 
	By:
	/s/ Lance A. Berry

	 
	Name:
	Lance A. Berry

	 
	Title:
	Senior Vice President, Chief Financial Officer

	 
	 
	 

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

	
			
	 
	WRIGHT MEDICAL CAPITAL, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President, Tax and Treasury

	 
	 

	 
	WRIGHT MEDICAL TECHNOLOGY, INC.,
as a Borrower and a Pledgor

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President, Tax and Treasury

	 
	 

	 
	WRIGHT MEDICAL GROUP INTELLECTUAL PROPERTY, INC.,
as a Borrower

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Vice President, Tax and Treasury

	 
	 

	 
	WRIGHT MEDICAL GROUP, INC.,
as a Borrower and a Pledgor

	 
	By:
	/s/ W. Dean Morgan

	 
	Name:
	W. Dean Morgan

	 
	Title:
	Treasurer

	 
	 

MidCap / Wright / Amendment No. 3 to Credit Agreement 

EXHIBIT 10.3

	
			
	GUARANTOR, PLEDGOR AND PARENT:
	WRIGHT MEDICAL GROUP N.V.

	 
	By:
	/s/ Lance A. Berry

	 
	Name:
	Lance A. Berry

	 
	Title:
	Senior Vice President, Chief Financial Officer

	 
	 
	 

MidCap / Wright / Amendment No. 3 to Credit AgreementEX-4.7

 Exhibit 4.7 

DUCOMMUN INCORPORATED 

2018 EMPLOYEE STOCK PURCHASE PLAN 

Section 1.    PURPOSE 

The purpose of the Plan is to provide an opportunity for Employees of Ducommun Incorporated, a Delaware corporation
(“Sponsor”) and its Participating Subsidiaries (collectively Sponsor and its Participating Subsidiaries shall be referred to as the “Company”), to purchase Common Stock of Sponsor and thereby to have an additional
incentive to contribute to the prosperity of the Company. It is the intention of the Company that the Plan (excluding any sub-plans thereof except as expressly provided in the terms of such sub-plan) qualify as an “Employee Stock Purchase Plan” under Section 423 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and the Plan shall be administered
in accordance with this intent. In addition, the Plan authorizes the grant of options pursuant to sub-plans or special rules adopted by the Committee designed to achieve desired tax or other objectives in
particular locations outside of the United States or to achieve other business objectives in the determination of the Committee, which sub-plans shall not be required to comply with the requirements
of Section 423 of the Code or all of the specific provisions of the Plan, including but not limited to terms relating to eligibility, Offering Periods or Purchase Price. 

Section 2.    DEFINITIONS 
  

	(a)	“Applicable Law” shall mean the legal requirements relating to the administration of an employee stock purchase plan under applicable U.S. state corporate laws, U.S. federal and applicable state
securities laws, the Code, any stock exchange rules or regulations and the applicable laws of any other country or jurisdiction, as such laws, rules, regulations and requirements shall be in place from time to time. 

 

	(b)	“Board” shall mean the Board of Directors of Sponsor. 

  

	(c)	“Code” shall mean the Internal Revenue Code of 1986, as such is amended from time to time, and any reference to a section of the Code shall include any successor provision of the Code.

  

	(d)	“Commencement Date” shall mean, with respect to a given Offering Period, the first Trading Day during such Offering Period. 

 

	(e)	“Committee” shall mean the Compensation Committee of the Board (or any successor committee) or the officer, officers or committee appointed by the Compensation Committee in accordance with
Section 15 of the Plan (to the extent of the duties and responsibilities delegated by the Compensation Committee of the Board). 

  

	(f)	“Common Stock” shall mean the common stock of Sponsor, par value $.01 per share, or any securities into which such Common Stock may be converted. 

  
 -1- 

	(g)	“Compensation” shall mean the total base compensation paid by the Company to an Employee with respect to an Offering Period, including salary, commissions, overtime, shift differentials and all or any
portion of any item of compensation considered by the Company to be part of the Employee’s regular base earnings, but excluding items not considered by the Company to be part of the Employee’s regular earnings. Items excluded from the
definition of “Compensation” include but are not limited to such items as incentive or performance-based cash bonuses, relocation bonuses, expense reimbursements, certain bonuses paid in connection with mergers and acquisitions, author
incentives, recruitment and referral bonuses, foreign service premiums, differentials and allowances, imputed income pursuant to Section 79 of the Code, income realized as a result of participation in any stock option, restricted stock,
restricted stock unit, stock purchase or similar equity plan maintained by Sponsor or a Participating Subsidiary, and tuition and other reimbursements. The Committee shall have the authority to determine and approve all forms of pay to be included
in the definition of Compensation and may change the definition on a prospective basis. 

  

	(h)	“Effective Date” shall mean February 21, 2018, the date on which the Plan was adopted by the Board. 

  

	(i)	“Employee” shall mean an individual classified as an employee (within the meaning of Code Section 3401(c) and the regulations thereunder) by Sponsor or a Participating Subsidiary on Sponsor’s
or such Participating Subsidiary’s payroll records during the relevant participation period. Notwithstanding the foregoing, no employee of Sponsor or a Participating Subsidiary shall be included within the definition of “Employee” if
such person’s customary employment is for less than twenty (20) hours per week or for less than five (5) months per year. Individuals classified as independent contractors, consultants or advisers are not considered
“Employees.” 

  

	(j)	“Enrollment Period” shall mean, with respect to a given Offering Period, that period established by the Committee prior to the commencement of such Offering Period during which Employees may elect to
participate in order to purchase Common Stock at the end of that Offering Period in accordance with the terms of this Plan. 

  

	(k)	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time, and any reference to a section of the Exchange Act shall include any successor provision of the Exchange Act.

  

	(l)	“Market Value” on a given date of determination (e.g., a Commencement Date or Purchase Date, as appropriate) means, as of any date, the value of the Common Stock determined as follows:

 (i) If the Common Stock is listed on any established stock exchange or traded on any established market, the
Market Value of a share of Common Stock as of any date of determination will be, unless otherwise determined by the Board or Committee, the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the
greatest volume of trading in the Common Stock) on the date of determination, as reported in a source the Board or Committee deems reliable. 

  
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 (ii) Unless otherwise provided by the Board or Committee, if there is no closing
sales price for the Common Stock on the date of determination, then the Market Value will be the closing selling price on the last preceding date for which such quotation exists. 

(iii) In the absence of such markets for the Common Stock, the Market Value will be determined by the Board or Committee in
good faith. 
  

	(m)	“Offering Period” shall mean a period of no more than twenty-seven (27) months at the end of which an option granted pursuant to the Plan shall be exercised. The Plan shall be implemented by a
series of Offering Periods with terms established by the Committee in accordance with the Plan. Once established, the duration and timing of Offering Periods may be changed or modified by the Committee as permitted by the Plan. If the Committee does
not establish different rules with respect to an Offering Period, then the duration of an Offering Period shall be six (6) months and there shall be no overlapping Offering Periods. 

 

	(n)	“Offering Price” shall mean the Market Value of a share of Common Stock on the Commencement Date for a given Offering Period. 

 

	(o)	“Participant” shall mean a participant in the Plan as described in Section 5 of the Plan. 

  

	(p)	“Participating Subsidiary” shall mean a Subsidiary that has been designated by the Committee in its sole discretion as eligible to participate in the Plan with respect to its Employees.

  

	(q)	“Plan” shall mean this 2018 Employee Stock Purchase Plan, including any sub-plans or appendices hereto. 

 

	(r)	“Purchase Date” shall mean the last Trading Day of each Offering Period. 

  

	(s)	“Purchase Price” shall have the meaning set out in Section 8(b). 

  

	(t)	“Securities Act” shall mean the U.S. Securities Act of 1933, as amended, as amended from time to time, and any reference to a section of the Securities Act shall include any successor provision of the
Securities Act. 

  

	(u)	“Stockholder” shall mean a record holder of shares entitled to vote such shares of Common Stock under Sponsor’s by-laws. 

 

	(v)	“Subsidiary” shall mean any entity treated as a corporation (other than Sponsor) in an unbroken chain of corporations beginning with Sponsor, within the meaning of Code Section 424(f), whether or
not such corporation now exists or is hereafter organized or acquired by Sponsor or a Subsidiary. 

  

	(w)	“Trading Day” shall mean a day on which U.S. national stock exchanges are open for trading and the Common Stock is being publicly traded on one or more of such markets. 

  
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 Section 3.    ELIGIBILITY 

 

	(a)	Any Employee employed by Sponsor or by any Participating Subsidiary at the beginning of an Enrollment Period for a given Offering Period shall be eligible to participate in the Plan with respect to such Offering Period
and future Offering Periods, provided that the Committee may establish administrative rules requiring that employment commence some minimum period (not to exceed 90 days) prior to an Enrollment Period and/or that customary employment exceed a
specified number of hours or period during a calendar year to be eligible to participate with respect to the associated Offering Period. The Committee may also determine that a designated group of highly compensated Employees is ineligible to
participate in the Plan so long as the excluded category fits within the definition of “highly compensated employee” in Code Section 414(q). If the Committee does not establish different rules with respect to an Offering Period, the
minimum period of employment that must be completed prior to the beginning of an Enrollment Period shall be thirty (30) calendar days. 

  

	(b)	No Employee may participate in the Plan if immediately after an option is granted the Employee owns or is considered to own (within the meaning of Code Section 424(d)) shares of Common Stock, including Common Stock
which the Employee may purchase by conversion of convertible securities or under outstanding options granted by Sponsor or its Subsidiaries, possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of
Sponsor or of any of its Subsidiaries. All Employees who participate in the Plan shall have the same rights and privileges under the Plan, except for differences that may be mandated by local law and that are consistent with Code
Section 423(b)(5); provided that individuals participating in a sub-plan adopted pursuant to Section 16 which is not designed to qualify under Code section 423 need not have the same rights and
privileges as Employees participating in the Code section 423 Plan. No Employee may participate in more than one Offering Period at a time. 

Section 4.    OFFERING PERIODS 

The Plan shall be implemented by a series of Offering Periods, which shall possess terms specified by the Committee in accordance with the
terms of the Plan. Offering Periods shall continue until the Plan is terminated pursuant to Section 14 hereof. Once established, the Committee shall have the authority to change the frequency and/or duration of Offering Periods (including the
Commencement Dates thereof) with respect to future Offering Periods if such change is announced prior to the scheduled occurrence of the Enrollment Period for the first Offering Period to be affected thereafter. If the Committee does not establish
different rules with respect to an Offering Period, then the duration of an Offering Period shall be six (6) months and there shall be no overlapping Offering Periods. 

Section 5.    PARTICIPATION 
  

	(a)	 An Employee who is eligible to participate in the Plan in accordance with its terms at the beginning of an
Enrollment Period for an Offering Period and elects to participate in such Offering Period shall automatically receive an option in accordance with Section 8(a). Such an Employee shall become a Participant by completing and submitting, on or
before 

  
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the date prescribed by the Committee with respect to a given Offering Period, a completed payroll deduction authorization and Plan enrollment form provided by Sponsor or its Participating
Subsidiaries or by following an electronic or other enrollment process as prescribed by the Committee. An eligible Employee may authorize payroll deductions at the rate of any whole percentage of the Employee’s Compensation, not to be less than
one percent (1.0%) and not to exceed ten percent (10.0 %) of the Employee’s Compensation (or such other percentages as the Committee may establish from time to time before an Enrollment Period for a future Offering Period) of such
Employee’s Compensation on each payday during the Offering Period. All payroll deductions will be held in a general corporate account or a trust account. No interest shall be paid or credited to the Participant with respect to such payroll
deductions. Sponsor shall maintain or cause to be maintained a separate bookkeeping account for each Participant under the Plan and the amount of each Participant’s payroll deductions shall be credited to such account. A Participant may not
make any additional payments into such account, unless payroll deductions are prohibited under Applicable Law, in which case the provisions of Section 5(b) of the Plan shall apply. 

 

	(b)	Notwithstanding any other provisions of the Plan to the contrary, in locations where local law prohibits payroll deductions, an eligible Employee may elect to participate through contributions to his or her account
under the Plan in a form acceptable to the Committee. In such event, any such Employees shall be deemed to be participating in a sub-plan, unless the Committee otherwise expressly provides that such Employees
shall be treated as participating in the Plan. 

  

	(c)	Under procedures and at times established by the Committee, a Participant may withdraw from the Plan during an Offering Period, by completing and filing a new payroll deduction authorization and Plan enrollment form
with the Company or by following electronic or other procedures prescribed by the Committee. If a Participant withdraws from the Plan during an Offering Period, his or her accumulated payroll deductions will be refunded to the Participant without
interest, his or her right to participate in the current Offering Period will be automatically terminated and no further payroll deductions for the purchase of Common Stock will be made during the Offering Period. Any Participant who wishes to
withdraw from the Plan during an Offering Period, must complete the withdrawal procedures prescribed by the Committee, subject to any rules established by the Committee, or changes to such rules, pertaining to the timing of withdrawals, limiting the
frequency with which Participants may withdraw and re-enroll in the Plan, or imposing a waiting period on Participants wishing to re-enroll following withdrawal.

  

	(d)	 A Participant may not increase his or her rate of contribution through payroll deductions or otherwise during a
given Offering Period. A Participant may decrease his or her rate of contribution through payroll deductions during a given Offering Period during such times specified by the Committee by filing a new payroll deduction authorization and Plan
enrollment form or by following electronic or other procedures prescribed by the Committee. If a Participant has not followed such procedures to change the rate of contribution, the rate of contribution shall continue at the originally elected rate
throughout the Offering Period and future Offering Periods. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code for a given calendar year, the Committee may reduce a Participant’s payroll
deductions to zero percent (0%) at any 

  
 -5- 

	 	
time during an Offering Period scheduled to end during such calendar year. Payroll deductions shall re-commence at the rate provided in such
Participant’s enrollment form at the beginning of the first Offering Period which is scheduled to end in the following calendar year, unless terminated by the Participant as provided in Section 5(c). 

Section 6.    TERMINATION OF EMPLOYMENT 

In the event any Participant terminates employment with Sponsor and its Participating Subsidiaries for any reason (including death) prior to
the expiration of an Offering Period, the Participant’s participation in the Plan shall terminate and all amounts credited to the Participant’s account shall be paid to the Participant or, in the case of death, to the Participant’s
heirs or estate, without interest. Whether a termination of employment has occurred shall be determined by the Committee. If a Participant’s termination of employment occurs within a certain period of time as specified by the Committee (not to
exceed 30 days) prior to the Purchase Date of the Offering Period then in progress, his or her option for the purchase of shares of Common Stock will be exercised on such Purchase Date in accordance with Section 9 as if such Participant were
still employed by the Company. If the Committee does not establish different rules with respect to an Offering Period, then if a Participant’s termination of employment occurs on or after the fifth
(5th) working day preceding the Purchase Date of an Offering Period, then his or her option for the purchase of shares of Common Stock will be exercised on such Purchase Date in accordance with
Section 9 as if such Participant were still employed by the Company. Following the purchase of shares on such Purchase Date, the Participant’s participation in the Plan shall terminate and all amounts credited to the Participant’s
account shall be paid to the Participant or, in the case of death, to the Participant’s heirs or estate, without interest. The Committee may also establish rules regarding when leaves of absence or changes of employment status will be
considered to be a termination of employment, including rules regarding transfer of employment among Participating Subsidiaries, Subsidiaries and Sponsor, and the Committee may establish termination-of-employment procedures for this Plan that are independent of similar rules established under other benefit plans of Sponsor and its Subsidiaries; provided that such procedures are not in
conflict with the requirements of Section 423 of the Code. 
 Section 7.    STOCK 

Subject to adjustment as set forth in Section 11, the aggregate number of shares of Common Stock which may be issued pursuant to the Plan
shall be one million, one hundred thousand (750,000) shares (the “Share Reserve”). 
 Notwithstanding the above, subject to
adjustment as set forth in Section 11, the maximum number of shares of Common Stock that may be issued to any Employee in a given Offering Period shall be two thousand (2,000) shares of Common Stock. The Committee may change this limitation at
any time on a prospective basis to apply to future Offering Periods. If, on a given Purchase Date, the number of shares with respect to which options are to be exercised exceeds either maximum, the Committee shall make, as applicable, such
adjustment or pro rata allocation of the shares remaining available for purchase in as uniform a manner as shall be practicable and as it shall determine to be equitable. 

  
 -6- 

 Section 8.    OFFERING 

 

	(a)	On the Commencement Date relating to each Offering Period, each eligible Employee, whether or not such Employee has elected to participate as provided in Section 5(a), shall be granted an option to purchase a
number of whole shares of Common Stock (as adjusted as set forth in Section 11) established by the Committee, which may be purchased with the payroll deductions accumulated on behalf of such Employee during each Offering Period at the purchase
price specified in Section 8(b) below, subject to the additional limitation that no Employee participating in the Plan shall be granted an option to purchase Common Stock under the Plan if such option would permit his or her rights to purchase
stock under all employee stock purchase plans (described in Section 423 of the Code) of Sponsor and its Subsidiaries to accrue at a rate which exceeds U.S. twenty-five thousand dollars (U.S. $25,000) of the Market Value of such Common Stock
(determined at the time such option is granted) for each calendar year in which such option is outstanding at any time. For purposes of the Plan, an option is “granted” on a Participant’s Commencement Date. An option will
expire upon the earliest to occur of (i) the termination of a Participant’s participation in the Plan or such Offering Period (ii) the beginning of a subsequent Offering Period in which such Participant is participating; or
(iii) the termination of the Offering Period. This Section 8(a) shall be interpreted so as to comply with Code Section 423(b)(8). 

  

	(b)	The Purchase Price under each option shall be with respect to an Offering Period the lower of (i) a percentage (not less than eighty-five percent (85%)) (“Designated Percentage”) of the Offering
Price, or (ii) the Designated Percentage of the Market Value of a share of Common Stock on the Purchase Date on which the Common Stock is purchased; provided that the Purchase Price may be adjusted by the Committee pursuant to Sections 11 or 12
in accordance with Section 424(a) of the Code. For a given Offering Period, the Designated Percentage shall be established no later than the beginning of the Enrollment Period for such Offering Period. The Committee may change the Designated
Percentage with respect to any future Offering Period, but not to below eighty-five percent (85%), and the Committee may determine with respect to any prospective Offering Period that the Purchase Price shall be the Designated Percentage of the
Market Value of a share of the Common Stock solely on the Purchase Date. If the Committee does not established the Designated Percentage prior to the beginning of the Enrollment Period for a given Offering Period, the Designated Percentage for such
Offering Period shall be eighty-five percent (85%). 

 Section 9.    PURCHASE OF STOCK 

Unless a Participant withdraws from the Plan as provided in Section 5(c), terminates employment prior to the end of an Offering Period as
provided in Section 6, or except as provided in Sections 7, 12 or 14(b), upon the expiration of each Offering Period, a Participant’s option shall be exercised automatically for the purchase of that number of whole shares of Common Stock
which the accumulated payroll deductions credited to the Participant’s account at that time shall purchase at the applicable price specified in Section 8(b) in accordance with the terms of the Plan, including Section 7.
Notwithstanding the foregoing, Sponsor or its Participating Subsidiary may make such provisions and take such action as it deems necessary or appropriate for the withholding of taxes and/or social insurance and/or other amounts which Sponsor or its
Participating Subsidiary 

  
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determines is required by Applicable Law. Each Participant, however, shall be responsible for payment of all individual tax liabilities arising under the Plan. The shares of Common Stock
purchased upon exercise of an option hereunder shall be considered for tax purposes to be sold to the Participant on the Purchase Date. A Participant’s option to purchase shares of Common Stock hereunder is exercisable only by him or her. 

Section 10.    PAYMENT AND DELIVERY 

As soon as practicable after the exercise of an option, Sponsor shall deliver or cause to have delivered to the Participant a record of the
Common Stock purchased and the balance of any amount of payroll deductions credited to the Participant’s account not used for the purchase of Common Stock, except as specified below. The Committee may permit or require that shares be deposited
directly with a broker designated by the Committee or to a designated agent of the Company, and the Committee may utilize electronic or automated methods of share transfer. The Committee may require that shares be retained with such broker or agent
for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions of such shares. Sponsor or its Participating Subsidiary shall retain the amount of payroll deductions used to purchase Common
Stock as full payment for the Common Stock and the Common Stock shall then be fully paid and non-assessable. No Participant shall have any voting, dividend, or other Stockholder rights with respect to shares
subject to any option granted under the Plan until the shares subject to the option have been purchased and delivered to the Participant as provided in this Section 10. The Committee may in its discretion direct Sponsor to retain in a
Participant’s account for the subsequent Offering Period any payroll deductions which are not sufficient to purchase a whole share of Common Stock or return such amount to the Participant. Any other amounts left over in a Participant’s
account after a Purchase Date shall be returned to the Participant. If the Committee does not establish different rules with respect to an Offering Period, then all amounts left over in a Participant’s account after a Purchase Date shall be
returned to the Participant. 
 Section 11.    RECAPITALIZATION 

Subject to any required action by the Stockholders of Sponsor, if there is any change in the outstanding shares of Common Stock or other
securities of Sponsor because of a merger, consolidation, spin-off, reorganization, recapitalization, dividend in property other than cash, extraordinary dividend whether in cash and/or other property, stock
split, reverse stock split, stock dividend, liquidating dividend, combination or reclassification of the Common Stock or other securities (including any such change in the number of shares of Common Stock or other securities effected in connection
with a change in domicile of Sponsor), or any other increase or decrease in the number of shares of Common Stock or other securities effected without receipt of consideration by Sponsor, provided that conversion of any convertible securities of
Sponsor shall not be deemed to have been “effected without receipt of consideration,” the type and number of securities covered by each option under the Plan which has not yet been exercised and the type and number of securities
which have been authorized and remain available for issuance under the Plan, as well as the maximum number of securities which may be purchased by a Participant in an Offering Period, and the price per share covered by each option under the Plan
which has not yet been exercised, shall be appropriately and proportionally adjusted by the Board, and the Board shall take any further actions which, in the exercise of its discretion, may be necessary or appropriate under the circumstances. The
Board’s determinations under this Section 11 shall be conclusive and binding on all parties. 

  
 -8- 

 12.    MERGER, LIQUIDATION, OTHER CORPORATE TRANSACTIONS 

 

	(a)	In the event of the proposed liquidation or dissolution of Sponsor, the Offering Period will terminate immediately prior to the consummation of such proposed transaction, unless otherwise provided by the Board in its
sole discretion, and all outstanding options shall automatically terminate and the amounts of all payroll deductions will be refunded without interest to the Participants. 

 

	(b)	In the event of a proposed sale of all or substantially all of the assets of Sponsor, or the merger or consolidation or similar combination of Sponsor with or into another entity, then in the sole discretion of the
Board, (1) each option shall be assumed or an equivalent option shall be substituted by the successor corporation or parent or subsidiary of such successor entity, (2) on a date established by the Board on or before the date of
consummation of such merger, consolidation, combination or sale, such date shall be treated as a Purchase Date, and all outstanding options shall be exercised on such date, (3) all outstanding options shall terminate and the accumulated payroll
deductions will be refunded without interest to the Participants, or (4) outstanding options shall continue unchanged. 

Section 13.    TRANSFERABILITY 

Neither payroll deductions credited to a Participant’s bookkeeping account nor any rights to exercise an option or to receive shares of
Common Stock under the Plan may be voluntarily or involuntarily assigned, transferred, pledged, or otherwise disposed of in any way, and any attempted assignment, transfer, pledge, or other disposition shall be null and void and without effect. If a
Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interests under the Plan, other than as permitted by the Code, such act shall be treated as an election by the Participant to discontinue participation
in the Plan pursuant to Section 5(c). 
 Section 14.    AMENDMENT OR TERMINATION OF THE PLAN 

 

	(a)	The Plan shall continue from the Effective Date until the time that the Plan is terminated in accordance with Section 14(b). 

  

	(b)	The Board or the Committee may, in its sole discretion, insofar as permitted by law, terminate or suspend the Plan, or revise or amend it in any respect whatsoever, except that, without approval of the Stockholders, no
such revision or amendment shall increase the number of shares subject to the Plan, other than an adjustment under Section 11 of the Plan, or make other changes for which Stockholder approval is required under Applicable Law. Upon a termination
or suspension of the Plan, the Board may in its discretion (i) return without interest, the payroll deductions credited to Participants’ accounts to such Participants or (ii) set an earlier Purchase Date with respect to an Offering
Period then in progress. 

  
 -9- 

 Section 15.    ADMINISTRATION 

 

	(a)	The Board has appointed the Compensation Committee of the Board to administer the Plan (the “Committee”), who will serve for such period of time as the Board may specify and whom the Board may remove at
any time. The Committee will have the authority and responsibility for the day-to-day administration of the Plan, the authority and responsibility specifically provided
in this Plan and any additional duty, responsibility and authority delegated to the Committee by the Board, which may include any of the functions assigned to the Board in this Plan. The Committee may delegate to a
sub-committee and/or to an officer or officers or employees of Sponsor the day-to-day administration of the Plan. The Committee
shall have full power and authority to adopt, amend and rescind any rules and regulations which it deems desirable and appropriate for the proper administration of the Plan, to construe and interpret the provisions and supervise the administration
of the Plan, to make factual determinations relevant to Plan entitlements and to take all action in connection with administration of the Plan as it deems necessary or advisable, consistent with the delegation from the Board. Decisions of the
Committee shall be final and binding upon all Participants. Any decision reduced to writing and signed by a majority of the members of the Committee shall be fully effective as if it had been made at a meeting of the Committee duly held. The Company
shall pay all expenses incurred in the administration of the Plan. 

  

	(b)	In addition to such other rights of indemnification as they may have as members of the Board or officers or employees of the Company, members of the Board and of the Committee and their delegates shall be indemnified by
the Company against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in connection with any appeal therein, to which they or any of them
may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any right granted under the Plan, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent
legal counsel selected by the Sponsor) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding that such person is liable
for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after the institution of such action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at
its own expense to handle and defend the same. 

 Section 16.    COMMITTEE RULES FOR FOREIGN JURISDICTIONS 

The Committee may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements
of local laws and procedures. Without limiting the generality of the foregoing, the Committee is specifically authorized to adopt rules and procedures regarding handling of payroll deductions or other contributions by Participants, payment of
interest, conversion of local currency, data privacy security, payroll tax, withholding procedures and handling of stock certificates which vary with local requirements; however, if such varying provisions are not in accordance with the provisions
of Section 423(b) of the Code, including but not limited to the requirement of Section 423(b)(5) of the Code that all options 

  
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granted under the Plan shall have the same rights and privileges unless otherwise provided under the Code and the regulations promulgated thereunder, then the individuals affected by such varying
provisions shall be deemed to be participating under a sub-plan and not in the Plan. The Committee may also adopt sub-plans applicable to particular Subsidiaries or
locations, which sub-plans may be designed to be outside the scope of Code section 423 and shall be deemed to be outside the scope of Code section 423 unless the terms of the
sub-plan provide to the contrary. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Section 7, but unless
otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. The Committee shall not be required to
obtain the approval of the Stockholders prior to the adoption, amendment or termination of any sub-plan unless required by the laws of the foreign jurisdiction in which Employees participating in the sub-plan are located. 
 Section 17.    SECURITIES LAWS REQUIREMENTS 

 

	(a)	No option granted under the Plan may be exercised to any extent unless the shares to be issued upon such exercise under the Plan are covered by an effective registration statement pursuant to the Securities Act and the
Plan is in material compliance with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act, the Exchange Act, the rules and regulations promulgated thereunder, applicable state and foreign securities
laws and the requirements of any stock exchange upon which the Shares may then be listed, subject to the approval of counsel for the Company with respect to such compliance. If on a Purchase Date in any Offering Period hereunder, the Plan is not so
registered or in such compliance, options granted under the Plan which are not in material compliance shall not be exercised on such Purchase Date, and the Purchase Date shall be delayed until the Plan is subject to such an effective registration
statement and such compliance, except that the Purchase Date shall not be delayed more than twelve (12) months and the Purchase Date shall in no event be more than twenty-seven (27) months from the Commencement Date relating to such
Offering Period. If, on the Purchase Date of any offering hereunder, as delayed to the maximum extent permissible, the Plan is not registered and in such compliance, options granted under the Plan which are not in material compliance shall not be
exercised and all payroll deductions accumulated during the Offering Period (reduced to the extent, if any, that such deductions have been used to acquire shares of Common Stock) shall be returned to the Participants, without interest. The
provisions of this Section 17 shall comply with the requirements of Section 423(b)(5) of the Code to the extent applicable. 

  

	(b)	As a condition to the exercise of an option, Sponsor may require the person exercising such option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares if, in the opinion of counsel for Sponsor, such a representation is required by any of the aforementioned applicable provisions of law. 

  
 -11- 

 18.    GOVERNMENTAL REGULATIONS 

This Plan and Sponsor’s obligation to sell and deliver shares of its stock under the Plan shall be subject to the approval of any
governmental authority required in connection with the Plan or the authorization, issuance, sale, or delivery of stock hereunder. 

19.    NO ENLARGEMENT OF EMPLOYEE RIGHTS 

Nothing contained in this Plan shall be deemed to give any Employee or other individual the right to be retained in the employ or service of
Sponsor or any Participating Subsidiary or to interfere with the right of Sponsor or Participating Subsidiary to discharge any Employee or other individual at any time, for any reason or no reason, with or without notice. 

20.    GOVERNING LAW 
 This
Plan shall be governed by applicable laws of the State of Delaware and applicable federal law. 
 21.    EFFECTIVE DATE 

This Plan shall be effective on the Effective Date, subject to approval of the Stockholders of Sponsor within twelve (12) months before or
after its date of adoption by the Board. 
 22.    REPORTS 

Individual accounts shall be maintained for each Participant in the Plan. Statements of account shall be made available to Participants at
least annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased and the remaining cash balance, if any. 

23.    DESIGNATION OF BENEFICIARY FOR OWNED SHARES 

With respect to shares of Common Stock purchased by the Participant pursuant to the Plan and held in an account maintained by Sponsor or its
assignee on the Participant’s behalf, the Participant may be permitted to file a written designation of beneficiary, who is to receive any shares and cash, if any, from the Participant’s account under the Plan in the event of such
Participant’s death subsequent to the end of an Offering Period but prior to delivery to him or her of such shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the
Participant’s account under the Plan in the event of such Participant’s death prior to the Purchase Date of an Offering Period. If a Participant is married and the designated beneficiary is not the spouse, spousal consent shall be required
for such designation to be effective, to the extent required by local law. The Participant (and if required under the preceding sentence, his or her spouse) may change such designation of beneficiary at any time by written notice. Subject to local
legal requirements, in the event of a Participant’s death, Sponsor or its assignee shall deliver any shares of Common Stock and/or cash to the designated beneficiary. Subject to local law, in the event of the death of a Participant and in the
absence of a beneficiary validly designated who is living at the time of such Participant’s death, Sponsor shall deliver such shares of Common Stock and/or cash to the executor or administrator of the estate of the

  
 -12- 

 
Participant, or if no such executor or administrator has been appointed (to the knowledge of Sponsor), Sponsor in its sole discretion, may deliver (or cause its assignee to deliver) such shares
of Common Stock and/or cash to the spouse, or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to Sponsor, then to such other person as Sponsor may determine. The provisions of this
Section 23 shall in no event require Sponsor to violate local law, and Sponsor shall be entitled to take whatever action it reasonably concludes is desirable or appropriate in order to transfer the assets allocated to a deceased
Participant’s account in compliance with local law. 
 24.    ADDITIONAL RESTRICTIONS OF RULE
16b-3. 
 The terms and conditions of options granted hereunder to, and the purchase of shares of
Common Stock by, persons subject to Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3. This Plan shall be deemed to contain, and such options shall contain, and the
shares of Common Stock issued upon exercise thereof shall be subject to, such additional conditions and restrictions, if any, as may be required by Rule 16b-3 to qualify for the maximum exemption from
Section 16 of the Exchange Act with respect to Plan transactions. 
 25.    NOTICES 

All notices or other communications by a Participant to Sponsor or the Committee under or in connection with the Plan shall be deemed to have
been duly given when received in the form specified by Sponsor or the Committee at the location, or by the person, designated by Sponsor for the receipt thereof. 

END OF DOCUMENT 

  
 -13-

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