Document:

EX-4.4

 Exhibit 4.4 

ZIMVIE, INC. 
 STOCK PLAN
FOR NON-EMPLOYEE DIRECTORS 
 (Effective as of March 1, 2022) 

 

 1. Purpose. 

The purpose of the ZimVie Inc. Stock Plan for Non-Employee Directors (the “Plan”) is to
secure for ZimVie Inc. (the “Company”) and its stockholders the benefits of the incentive inherent in increased Common Stock ownership by the members of the Board of Directors of the Company (the “Board”) who are Eligible
Directors as defined in the Plan. 
 2. Administration. 

The Plan shall be administered under the supervision of the Board. The Board shall have all the powers vested in it by the terms of the Plan,
such powers to include authority (within the limitations described herein) to prescribe the form of the agreement embodying awards of stock options (“Options”), restricted stock (“Restricted Stock”) and restricted stock units
(“Restricted Stock Units”) made under the Plan (Options, Restricted Stock and Restricted Stock Units, in the aggregate, to be “Awards”). The Board shall, subject to the provisions of the Plan, grant Awards under the Plan and
shall have the power to construe the Plan, to determine all questions arising thereunder and to adopt and amend such rules and regulations for the administration of the Plan as it may deem desirable. Any decision of the Board in the administration
of the Plan, as described herein, shall be final and conclusive. No member of the Board shall be liable for anything done or omitted to be done by such member or by any other member of the Board in connection with the Plan, except for such
member’s own willful misconduct or as expressly provided by statute. 
 3. Amount of Stock; Individual Limitation. 

The stock which may be issued and sold under the Plan will be the common stock (par value $.01 per share) of the Company (“Common
Stock”), of a total number not exceeding 400,000 shares, subject to adjustment as provided in Section 7 below. The stock to be issued may be either authorized and unissued shares or issued shares acquired by the Company or its
subsidiaries. In the event that Awards granted under the Plan terminate or expire (without being exercised, in the case of Options) or are cancelled, forfeited, surrendered or exchanged for awards of another person in connection with a
recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, exchange of shares or other similar event (collectively,
“lapsed Awards”), new Awards may be granted covering the shares not issued under such lapsed Awards. 
 Notwithstanding any
provision to the contrary in the Plan or in any policy of the Company regarding compensation payable to a Non-Employee Director, the sum of the grant date fair value of all awards payable in shares of Common
Stock and the maximum cash value of any other award granted under the Plan to an individual as compensation for services as a Non-Employee Director, together with cash compensation paid to such director in the
form of Board and committee retainer, meeting or similar fees, during any calendar

 year shall not exceed USD $700,000. For avoidance of doubt, compensation will count towards this limit for the
calendar year in which it was granted or earned, and not later when distributed, in the event it is deferred. The foregoing limit may not be increased without the approval of the stockholders of the Company. 

4. Eligible Directors. 

The members of the Board who are eligible to participate in the Plan (“Eligible Directors”) are persons who serve as directors of
the Company and: 
 (a) who are not current employees of the Company and 

(b) who are not eligible to receive options on Company stock by participation as an employee in another plan sponsored by the Company or
under a contractual arrangement with the Company. 
 Eligible Directors who have received an Award under the Plan shall be participants in
the Plan (each, a “Participant”). 
 5. Terms and Conditions of Options. 

Each Option granted under the Plan shall be evidenced by an agreement in such form as the Board shall prescribe from time to time in
accordance with the Plan (“Option Agreement”) and shall comply with the following terms and conditions: 
 (a) The Option
exercise price shall be the fair market value of the Common Stock shares subject to such Option on the date the Option is granted, which shall be the average of the high and the low sales prices of a share of Common Stock on the Nasdaq Stock Market
on the date of grant or, if there were no trades on such date, on the day on which a trade occurred next preceding such date (the “Fair Market Value”). 

(b) Each year, as of the date of the annual meeting of the stockholders of the Company (“Annual Meeting”), and at such other
dates as the Board deems appropriate, the Board may award Options to purchase shares of Common Stock to Eligible Directors who have been elected or reelected or who are continuing as members of the Board. 

(c) No Option granted under the Plan shall be transferable by the optionee other than by will or by the laws of descent and
distribution, and such Option shall be exercisable, during the optionee’s lifetime, only by the optionee. Notwithstanding the foregoing, the Board may set forth in an Option Agreement, at the time of grant or thereafter, that the Options may be
transferred to members of the optionee’s immediate family, to trusts solely for the benefit of such immediate family members and to partnerships in which such family members and/or trusts are the only partners. For this purpose, immediate
family means the optionee’s spouse, parents, children, stepchildren, grandchildren and legal dependants. Any transfer of Options made under this provision will not be effective until notice of such transfer is delivered to the Company.

 

 
 (d) No Option or any part of an Option shall be exercisable: 

(i) after the expiration of ten years from the date the Option was granted, 

(ii) unless written notice of the exercise is delivered to the Company specifying the number of shares to be purchased
and payment in full is made for the shares of Common Stock being acquired thereunder at the time of exercise, such payment shall be made in such form or manner that the Board at its discretion may from time to time designate and that may include,
without limitation, payment: 
 (A) in United States dollars by certified check, or bank draft, or 

(B) by tendering to the Company Common Stock shares owned by the person exercising the Option and having a Fair Market
Value equal to the cash exercise price applicable to such Option (shares of Common Stock used to exercise an option shall have been held by the optionee for the requisite period of time to avoid adverse accounting consequences to the Company with
respect to the Option) or 
 (C) by a combination of United States dollars and Common Stock shares as
aforesaid, and 
 (iii) unless the person exercising the Option has been, at all times during the period
beginning with the date of grant of the Option and ending on the date of such exercise, an Eligible Director of the Company, except that: 

(A) if such a person shall cease to be such an Eligible Director for reasons other than retirement (meaning any
voluntary cessation of services as a director) or death, while holding an Option that has not expired and has not been fully exercised, such person, at any time within one year after the date he ceases to be such an Eligible Director (but in no
event after the Option has expired under the provisions of Section 5(d)(i) above), may exercise the Option with respect to any Common Stock shares as to which such person has not exercised the Option on the date the person ceased to be such an
Eligible Director only to the extent that the Option is exercisable at the time of termination. 
 (B) if such
person shall cease to be such an Eligible Director by reason of retirement or death while holding an Option that has not expired and has not been fully exercised, such person, or in the case of death, the executors, administrators or distributees,
as the case may be, may at any time following the date of retirement or death (but in no event after the expiration of the Option period set forth in Section 5(d)(i) above), exercise the Option with respect to any shares of Common Stock as to
which such person has not exercised the Option on the date the person ceased to be such an Eligible Director, notwithstanding the provisions of Section 5(e).

 (C) if any person who has ceased to be such an Eligible Director for
reasons other than death, shall die holding an Option that has not been fully exercised, such person’s executors, administrators, heirs or distributees, as the case may be, may, at any time within the greater of (1) one year after the date
of death or (2) the remainder for the period in which such person could have exercised the Option had the person not died (but in no event under either (1) or (2) after the Option has expired under the provisions of
Section 5(d)(i) above), exercise the Option with respect to any shares as to which the decedent could have exercised the Option at the time of death. 

In the event any Option is exercised by the executors, administrators, legatees or distributees of the estate of a deceased optionee, the
Company shall be under no obligation to issue stock thereunder unless and until the Company is satisfied that the person or persons exercising the Option are the duly appointed legal representatives of the deceased optionee’s estate or the
proper legatees or distributees thereof. Notwithstanding the foregoing, the Board may set forth in an Option Agreement different rules relating to the treatment of Options upon an Eligible Director’s cessation of service than those provided for
in this Section 5(d)(iii). 
 (e) Unless otherwise set forth in an applicable Option Agreement,
one-quarter (25%) of the total number of shares of Common Stock covered by the Option shall become exercisable on the first anniversary date of the grant of the Option; thereafter an additional one-quarter (25%) of the shares shall become exercisable annually on each subsequent anniversary date of the grant of the Option until the Option is fully exercisable. 

(f) Notwithstanding anything to the contrary herein, if an Option has been transferred in accordance with Section 5(c), the Option
shall be exercisable solely by the transferee. The Option shall remain subject to the provisions of the Plan, including that it will be exercisable only to the extent that the optionee or optionee’s estate would have been entitled to exercise
it if the optionee had not transferred the Option. In the event of the death of the transferee prior to the expiration of the right to exercise the Option, the Option shall be exercisable by the executors, administrators, legatees and distributees
of the transferee’s estate, as the case may be for a period of one year following the date of the transferee’s death but in no event shall the Option be exercisable after the expiration of the Option period set forth in the Option
Agreement. The Option shall be subject to such other rules as the Board shall determine. 
 (g) No Deferral Feature. No
Option granted under this Plan shall include any feature for the deferral of compensation other than the deferral of recognition of income until exercise of the Option. 

6. Terms and Conditions of Restricted Stock and Restricted Stock Units. 

Restricted Stock Awards under the Plan shall consist of grants of shares of Common Stock of the Company, the grant, issuance, retention
and/or vesting of which is subject to the terms and conditions hereinafter provided. The conditional grant of a Restricted Stock Unit to an Eligible Director will entitle the Participant to receive a specified number of shares of Common Stock, if
the objectives specified in the Award, if any, are achieved and the other terms and conditions thereof are satisfied. Each Award will be subject to the following terms and conditions:

 

  
 2 

 
 (a) The Board shall (i) select the Eligible Directors to whom Restricted Stock and
Restricted Stock Unit Awards may from time to time be granted, (ii) determine the number of shares to be covered by each Award granted, (iii) determine the terms and conditions (not inconsistent with the Plan) of any Award granted
hereunder, and (iv) prescribe the form of the agreement, legend or other instrument necessary or advisable in the administration of Awards under the Plan. 

(b) Any Restricted Stock and Restricted Stock Unit Award granted under the Plan shall be evidenced by an agreement executed by the
Company and the recipient, in such form as the Board shall approve and with such terms and conditions as the Board shall prescribe (“Award Agreement”). 

(c) The shares of Restricted Stock awarded pursuant to the Plan shall be subject to the following restrictions and conditions: 

(i) During the restriction period, the Participant will not be permitted to sell, transfer, pledge or assign
Restricted Stock awarded under this Plan. 
 (ii) Except as the Board may otherwise determine, a Participant holding
Restricted Stock shall have all of the rights of a stockholder of the Company, including the right to vote the shares and receive dividends and other distributions, provided that distributions in the form of stock shall be subject to the same
restrictions as the underlying Restricted Stock. 
 (d) Restricted Stock Units awarded pursuant to the Plan shall be subject to such
restrictions and conditions as the Board may determine and set forth in the Award Agreement. A Participant holding Restricted Stock Units shall have none of the rights of a stockholder of the Company during the restriction period. 

(e) Compliance with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary,
to the extent Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) is or is likely to become applicable to the Participant, in the event any Award under this Section 6 constitutes or provides for a deferral
of compensation within the meaning of Section 409A of the Code, the Award shall comply in all respects with the applicable requirements of Section 409A of the Code; the Award Agreement shall include all provisions required for the Award to
comply with the applicable requirements of Section 409A of the Code; and those provisions of the Award Agreement shall be deemed to constitute provisions of the Plan. 

7. Adjustment in the Event of Change in Stock. 

In the event of changes in the outstanding Common Stock by reason of stock dividends, recapitalizations, mergers, consolidations, stock
splits, combinations or exchanges of shares and the like, the aggregate number and class of shares available under the Plan, the number, class and the price of shares subject to outstanding Options and Awards of Restricted Stock and Restricted Stock
Units shall be appropriately adjusted by the Board, whose determination shall be conclusive.

 8. Miscellaneous Provisions. 

(a) Except as expressly provided for in the Plan, no Eligible Director or other person shall have any claim or right to be granted an
Award under the Plan. Neither the Plan nor any action taken hereunder shall be construed as giving any Eligible Director any right to be retained in the service of the Company. 

(b) Except as provided for under Section 5(c), a Participant’s rights and interest under the Plan may not be assigned or
transferred in whole or in part either directly or by operation of law or otherwise (except in the event of a Participant’s death, by will or the laws of descent and distribution), including, but not by way of limitations, execution, levy,
garnishment, attachment, pledge, bankruptcy or in any other manner, and no such right or interest of any Participant in the Plan shall be subject to any obligation or liability of such Participant. 

(c) No Common Stock shares shall be issued hereunder unless counsel for the Company shall be satisfied that such issuance will be in
compliance with applicable federal, state and other securities laws and regulations and any other applicable laws and regulations. 

(d) It shall be a condition to the obligation of the Company to issue Common Stock shares upon exercise of an Option or with respect to
any other Award, that the Participant (or any beneficiary or person entitled to receive the benefit of an Award) pay to the Company, upon its demand, such amount as may be requested by the Company for the purpose of satisfying any liability to
withhold federal, state, local or foreign income or other taxes. Each Participant shall pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any such applicable taxes, and the Company shall, to the extent
permitted by law, have the right to deduct such amount from any payment of any kind otherwise due to the Participant. If the amount requested is not paid or otherwise satisfied by the Participant, the Company may refuse to issue Common Stock shares.

 (e) The expenses of the Plan shall be borne by the Company. 

(f) The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to make any other
segregation of assets to assure the issuance of shares in connection with an Award under the Plan and issuance of shares in connection with Awards shall be subordinate to the claims of the Company’s general creditors. 

(g) By accepting any Award or other benefit under the Plan, each Participant and each person claiming under or through such person shall
be conclusively deemed to have indicated his acceptance and ratification of, and consent to, any action taken under the Plan by the Company or the Board.

 

  
 3 

 
 9. Change in Control. 

In the event an Eligible Director’s membership on the Board terminates pursuant to a qualifying termination (as defined below) during
the three (3) year period following a change in control of the Company (as defined below) and prior to the exercise of Options granted under this Plan, all outstanding Options shall immediately become fully vested and exercisable
notwithstanding any provisions of the Plan or of the applicable Option Agreement to the contrary. In addition, in the event of a change in control of the Company, the Board may (i) determine that outstanding Options shall be assumed by, or
replaced with comparable options by, the surviving corporation (or a parent or subsidiary of the surviving corporation) and that outstanding Awards shall be converted to similar awards of the surviving corporation (or a parent or subsidiary of the
surviving corporation), or (ii) take such other actions with respect to outstanding Options and Awards as the Board deems appropriate. 

The following definitions shall apply for purposes of the Plan: 

(a) For the purpose of this Plan, a change in control shall be deemed to have occurred on the earlier of the following dates: 

(1) The date any person, as defined in Section 13(d)(3) of the Securities Exchange Act of 1934 (“Person”), shall have
become the direct or indirect beneficial owner of (20%) or more of the then outstanding common shares of the Company; 
 (2) The date
a merger or consolidation of the Company with any other corporation is consummated other than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent
at least 75% of the combined voting power of the voting securities of the Company or the surviving entity outstanding immediately after such merger or consolidation, or (ii) a merger or consolidation effected to implement a recapitalization of
the Company in which no Person acquires more than 50% of the combined voting power of the Company’s then outstanding securities; 

(3) The date the shareholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all the Company’s assets; 
 (4) The date there shall have been a change in a
majority of the Board of Directors of the Company within a two (2) year period beginning after the effective date of the Plan, unless the nomination for election by the Company’s shareholders of each new director was approved by the vote
of two-thirds of the directors then still in office who were in office at the beginning of the two (2) year period. 

(b) For purposes of this Plan provision, a qualifying termination shall be deemed to have occurred if the Eligible Director ceases to be
a member of the Board for any reason other than death, disability, voluntary resignation, willful misconduct or activity deemed detrimental to the interests of the Company.

 10. Amendment or Discontinuance. 

The Plan may be amended at any time and from time to time by the Board as the Board shall deem advisable, including, but not limited to,
amendments necessary to qualify for any exemption or to comply with applicable law or regulations; provided, however, that, except in connection with a corporate transaction involving the Company (including, without limitation, any stock dividend,
stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination or exchange of shares), the terms of
outstanding Awards may not be amended, without stockholder approval, to reduce the exercise price of outstanding Options or to cancel outstanding Options in exchange for cash or other awards at a time when the exercise price of the Option exceeds
the Fair Market Value of a share of Common Stock, or in exchange for stock options with an exercise price that is less than the exercise price of the original Options; and provided, further, that except as provided in Section 7 above, the Board
may not, without further approval by the stockholders of the Company, increase the maximum number of shares of Common Stock as to which Awards may be granted under the Plan, reduce the minimum Option exercise price described in Section 5(a)
above, extend the period during which Awards may be granted or exercised under the Plan or change the class of persons eligible to receive Awards under the Plan. No amendment of the Plan shall materially and adversely affect any right of any
Participant with respect to any Award theretofore granted without such Participant’s written consent, provided that no such consent shall be required with respect to any amendment or alteration if the Board determines in its sole discretion
that such amendment or alteration either (i) is required or advisable in order for the Company, the Plan or the Award to satisfy any law or regulation or to meet the requirements of any accounting standard, or (ii) is not reasonably likely
to significantly diminish the benefits provided under such Award, or that any such diminishment has been adequately compensated. 

11. Termination. 

This Plan shall terminate upon the earlier of the following dates or events to occur: 

(a) upon the adoption of a resolution of the Board terminating the Plan; or 

(b) March 1, 2032. 

12. Governing Law. 

The validity, construction, interpretation and effect of the Plan and agreements issued under the Plan shall be governed and construed by and
determined in accordance with the laws of the State of Colorado, U.S.A., without giving effect to the conflict of laws provisions thereof.

 

  
 4EX-4.5

 Exhibit 4.5 

ZIMVIE INC. 
 DEFERRED
COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS 
 (Effective as of March 1, 2022) 

 

 Section 1. Eligibility. 

Any member of the Board of Directors (the “Board”) of ZimVie Inc. (the “Company”) who is not an officer or employee of
the Company or a subsidiary thereof is eligible to participate in the Plan and will be a participant. 
 Section 2. Deferred
Compensation Account. 
 There shall be established on the books of the Company for each participant a deferred compensation account in
the participant’s name. 
 Section 3. Amount of Deferral. 

(a) Mandatory Deferrals. If a participant has not yet met the guideline level of Share Unit or Company common
stock ownership established by the Board, fifty percent of the basic fee payable to a participant for membership on the Board (the “Mandatory Deferral”) shall be deferred and credited to the participant’s deferred compensation account
as Share Units equal to the number of shares of the Company’s common stock that could have been purchased with the deferred fee, determined by dividing the dollar value of the deferred fee by the fair market value of a share of the
Company’s common stock as reported in The Wall Street Journal on the date such fee would otherwise have been paid to the participant. As an additional Mandatory Deferral, on the date of each annual meeting of the stockholders of the Company
(“Annual Meeting”) (or on an alternate date if no such Annual Meeting is held), each participant will receive 500 deferred Share Units (the “Annual Deferred Share Units”). The value of each Annual Deferred Share Unit will be
equal to a share of the Company’s common stock as reported in The Wall Street Journal on the date of grant. 
 (b) Elective
Deferrals. For any calendar year, a participant may elect to defer receipt of compensation in excess of the participant’s Mandatory Deferral for that year (the “Elective Deferral”) by filing the appropriate form in
accordance with Section 8 and requesting deferral of: (1) all of the participant’s compensation in excess of the participant’s Mandatory Deferral payable to the participant for serving on the Board and any committee thereof; or
(2) any percentage specified by the participant of the compensation described in clause (1) that is in excess of the participant’s Mandatory Deferral. 

Section 4. Form and Computation of Deferred Amounts. 

Subject to Section 3, at the time a participant elects to make an Elective Deferral, the participant shall elect to have the Elective
Deferral credited to his or her deferred compensation account as Treasury Units, Dollar Units, or Share Units (each an “Investment Option”). A participant may allocate the Elective Deferrals among the Investment Options in increments of
0%, 33 1/3%, 50%, 66 2/3% or 100%. Any deferred amount credited to a participant’s

 
deferred compensation account as Treasury Units shall be credited with interest at a rate to be set by the Company in January of each year after a review of the
six-month United States Treasury bill discount rates for the preceding year. Any deferred amount credited to a participant’s deferred compensation account as Dollar Units shall be credited with interest
at a rate to be set by the Company in January of each year after a review of investment return on the invested cash of the Company. If a participant elects to allocate a deferred amount to Share Units, the participant will be credited with Share
Units equal to the number of shares of the Company’s common stock that could have been purchased with the deferred amount, determined by dividing the dollar value of the deferred amount by the fair market value of a share of the Company’s
common stock as reported in The Wall Street Journal on the date such amount would otherwise have been paid to the participant. Upon payment by the Company of dividends on its common stock, the amount credited to a participant’s deferred
compensation account as Share Units shall be credited with a number of additional Share Units equal to (a) the number of Share Units in the participant’s account multiplied by the amount of the dividend, (b) divided by the fair market
value of a share of the Company’s common stock as reported in The Wall Street Journal on the day the dividend is payable. The amount of Share Units in a participant’s deferred compensation account shall be adjusted in the discretion of the
Board to take into account a merger, consolidation, reorganization, recapitalization, stock split or other change in corporate structure or capitalization affecting the Company’s common stock. At its discretion, the Board may discontinue,
modify, or offer additional Investment Options. 
 Section 5. Period of Deferral. 

A participant’s Mandatory Deferrals, including Annual Deferred Share Units, will be paid sixty days after the participant’s
Separation From Service, which is generally defined as the expiration or other termination of all contracts, agreements, or arrangements under which the participant performs services for the Company, or any other company under common control with
the Company, whether as a Director or other independent contractor or employee, provided that the expiration or termination constitutes a good-faith and complete termination of the contractual relationship between the participant and the Company
(and all other companies under common control with the Company). Notwithstanding the foregoing, whether a Separation From Service has occurred for purposes of this Plan will be determined in accordance with the applicable standards under
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), including § 1.409A-1(h) (“Section 409A”). 

At the time a participant makes a deferral election in accordance with Section 8 and 9, the participant may elect the period of
deferral for amounts attributable to the Elective Deferrals that are the subject of that election. A participant may elect to defer receipt of amounts attributable to Elective Deferrals (1) until a specified calendar year in the future,
(2) until the participant’s Separation From Service, or (3) until the end of the calendar year in which the participant’s Separation From Service occurs. If the participant elects alternative (1), payment will be made or commence
within sixty days after the beginning of the calendar year specified in the election; if the participant elects alternative (2), payment will be made or commence within sixty days after the participant’s Separation From Service; and if the
participant elects alternative (3), payment will be made or 

 

 
 commence within sixty days after the end of the calendar year in which the participant’s Separation From
Service occurs. If, with respect to an Elective Deferral, a participant does not make a timely election (in accordance with Section 8) as to the period of deferral, payment of amounts attributable to the Elective Deferral will be made or
commence within sixty days after the participant’s Separation From Service. 
 Section 6. Form of Payment. 

Mandatory Deferrals, including Annual Deferred Share Units, will be paid in shares of the Company’s common stock. 

At the time a participant makes a deferral election in accordance with Section 8 and 9, the participant may elect the form of payment
for amounts attributable to the Elective Deferrals that are the subject of that election. A participant may elect to receive payment of amounts attributable to Elective Deferrals in either (1) a lump sum cash payment or (2) a number of
annual cash installments, not more than four, as specified by the participant. If installment payments are elected, the amount of each installment shall be equal to the balance in the participant’s deferred compensation account divided by the
number of installments remaining to be paid (including the installment in question) and payments shall be made during the period of each applicable year specified in Section 5. If a participant fails to make a timely election as to form of
payment, payment will be made in a lump sum cash payment. 
 Section 7. Death Prior to Receipt. 

If a participant dies prior to receipt of any of the amounts payable pursuant to this Plan, the participant’s Mandatory Deferrals,
including Annual Deferred Share Units, will be paid, in shares of the Company’s common stock, to the participant’s beneficiary or estate, as the case may be, within sixty days after the participant’s death. 

At the time a participant makes a deferral election in accordance with Section 8, the participant may elect that, in the event he or
she dies prior to receipt of any of the amounts payable pursuant to this Plan, the participant’s deferred compensation account attributable to Elective Deferrals will be paid to the participant’s beneficiaries or estate, as the case may
be, in either (1) a lump sum cash payment within sixty days following the participant’s death, or (2) a number of annual cash installments, not more than four, as specified by the participant. If the participant elects alternative
(2), the initial installment payment to the beneficiaries or estate will be made sixty days after the participant’s death, and the amount of each installment and timing of each subsequent installment will be determined as provided in
Section 6. If payment to the participant pursuant to clause (2) of Section 6 had commenced prior to death, the installment payments to the participant’s beneficiaries or estate, as the case may be, will be made at the same time
and in the same amount as installment payments would have been made to the participant had he or she survived. For purposes of this Section 7, any amounts deferred as Share Units will be converted to Dollar Units by multiplying the number of
Share Units credited to a participant’s deferred compensation account on the date of his or her death by the fair market value of a share of the Company’s common stock on such date as reported in The Wall Street Journal.

 Section 8. Time of Election of Deferral. 

This Section 8 governs the time for making “Deferral Elections,” which include elections to make Elective Deferrals pursuant
to Section 3, elections as to the form and computation of deferred amounts pursuant to Section 4, elections of the period of deferral pursuant to Section 5, elections of the form of payment pursuant to Section 6, and elections
with respect to death benefits pursuant to Section 7. 
 A nominee for election as a new (not returning) Director may make a Deferral
Election prior to his or her election for the calendar year in which he or she is being elected, except that a person elected a new Director by the Board may make a Deferral Election no later than 30 days after his/her election as a Director
(to the extent such election is compliant under Section 409A) (an “Initial Eligibility Election”), in which event such Initial Eligibility Election shall be effective only with respect to compensation earned after the Initial
Eligibility Election is made. A person then currently serving as a Director may make a Deferral Election with respect to compensation for the next succeeding calendar year no later than the preceding November 30th. This Deferral Election will
be deemed to apply for each succeeding calendar year, unless (1) the participant elects, in accordance with Section 10, to discontinue the Deferral Election or make a new Deferral Election, or (2) the election is stated, in writing,
to apply only to the current calendar year. 
 Section 9. Manner of Electing Deferral. 

A participant may make a Deferral Election by giving written notice to the Corporate Secretary’s Office of the Company on a form
provided by the Company, which notice shall include the amount to be deferred, the form in which the amount deferred is to be credited, the period of deferral and the form of payment, including the number of installments, if any. 

Section 10. Effect of Election. 

A Deferral Election shall be irrevocable by the participant once the calendar year to which it applies has commenced, or in the case of an
Initial Eligibility Election, at the end of the 30th day following the new Director’s election as a Director. An election may be discontinued or modified by the participant with respect to calendar years not yet begun by notifying the Corporate
Secretary’s Office of the Company in writing no later than November 30th of the preceding year. 

Section 11. Maximum Number of Shares. 

The maximum number of shares of the Company’s common stock that may be issued and distributed under this Plan shall be Two Hundred
Thousand (200,000) shares, subject to adjustment as provided under Section 4, above. 
 Section 12. Participant’s
Rights Unsecured. 
 The right of any participant to receive future payments under the provisions of the Plan shall be an unsecured
claim against the general assets of the Company. 

 

  
 2 

 
 Section 13. Statement of Account. 

A statement will be sent to each participant each year reflecting the value of his or her deferred compensation account as of the end of the
preceding year. 
 Section 14. Assignability and Beneficiaries. 

No right to receive payments under the Plan shall be transferable or assignable by a participant other than by will or under the laws of
descent and distribution, except that a participant may designate one or more beneficiaries pursuant to the provisions of this Section. On a form to be provided by the Corporate Secretary’s Office of the Company, a participant may name
beneficiaries to receive any amounts to which the participant may be entitled under the Plan in the event of the participant’s death. A participant may change his or her beneficiary designation from time to time in the same manner. If a
participant fails to designate any beneficiary, or if no designated beneficiary is living on the date on which any payment becomes payable to the participant’s beneficiaries, the payment will be payable to the participant’s estate. 

Section 15. Administration; Section 409A Compliance. 

The Plan will be administered under the supervision of the Board, which will have the authority to adopt rules and regulations to carry out
the Plan and to interpret, construe and implement the provisions of the Plan. The Plan, as amended and restated, is intended to comply with Section 409A and will be construed accordingly. In construing or interpreting any vague or ambiguous
Plan provision, the interpretation that will prevail is the interpretation that will cause the Plan to comply with the applicable standards under Code Section 409A. To the extent that any terms of the Plan would subject any participant to gross
income inclusion, interest, or additional tax pursuant to Code Section 409A, the Company shall not be responsible.

 Notwithstanding any provision in the Plan to the contrary, if at the time of a
participant’s Separation From Service, the participant is a “specified employee” as defined under Section 409A, then any payment under this Plan that is payable on account of the participant’s Separation From Service shall
be delayed until the date which is the earlier of (a) the expiration of six months following the date of the participant’s separation from service, and (B) the date of the participant’s death, at which time all payments delayed
pursuant to this paragraph shall be paid to the participant (or beneficiary or estate, as applicable) in a lump sum, and any remaining payments due under this Plan shall be paid or provided in accordance with the normal payment dates specified for
them in this Plan or applicable Deferral Election. 
 Section 16. Amendment. 

This Plan may at any time or from time to time be amended, modified or terminated by the Board. No amendment, modification or termination
shall, without the consent of the participant, adversely affect that participant’s accruals in his or her deferred compensation account as of the date of amendment, modification or termination. 

Section 17. Governing Law. 

The validity, construction, interpretation and effect of the Plan and agreements issued under the Plan shall be governed and construed by and
determined in accordance with the Code, and, to the extent not in conflict, with the laws of the State of Colorado, without giving effect to the conflict of laws provisions thereof. 

Section 18. Termination Date. 

The Plan shall terminate effective as of March 1, 2032. Notwithstanding the foregoing, any Mandatory Deferrals and Elective Deferrals
deferred prior to March 1, 2032 shall be distributed in accordance with the Plan as in effect on February 29, 2032. 

 

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}]]