Document:

EX-10.2

 Exhibit 10.2 

PINNACLE ENTERTAINMENT, INC. 

EXECUTIVE DEFERRED COMPENSATION PLAN 

As Amended and Restated Effective May 18, 2015 

 TABLE OF CONTENTS 

 

							
	 		 		Page	 
			
			ARTICLE 1				
			
			DEFINITIONS				
			
	1.1		“Actuarial Equivalent”		 	2	  
	1.2		“Affiliate”		 	2	  
	1.3		“Base Annual Salary”		 	2	  
	1.4		“Beneficiary”		 	2	  
	1.5		“Beneficiary Designation Form”		 	2	  
	1.6		“Benefit Distribution Date”		 	2	  
	1.7		“Benefit Distribution Form”		 	2	  
	1.8		“Board”		 	2	  
	1.9		“Bonus”		 	2	  
	1.10		“Change in Control”		 	3	  
	1.11		“Claimant”		 	4	  
	1.12		“Code”		 	4	  
	1.13		“Combined Account”		 	4	  
	1.14		“Committee”		 	4	  
	1.15		“Crediting Rate”		 	4	  
	1.16		“Deferral Contribution”		 	4	  
	1.17		“Deferral Contribution Account”		 	4	  
	1.18		“Disability”		 	4	  
	1.19		“Election Form”		 	5	  
	1.20		“Elective Deductions”		 	5	  
	1.21		“Employer” or “Employers”		 	5	  
	1.22		“Enrollment Forms”		 	5	  
	1.23		“ERISA”		 	5	  
	1.24		“Final Average Compensation”		 	5	  
	1.25		“First Amendment and Restatement”		 	6	  
	1.26		“Incentive Plan”		 	6	  
	1.27		“Interim Distribution Date”		 	6	  
	1.28		“Other Stock Unit Awards”		 	6	  
	1.29		“Participant”		 	6	  
	1.30		“Participation Agreement”		 	6	  
	1.31		“Plan”		 	6	  
	1.32		“Plan Year”		 	6	  
	1.33		“Prior Plan Document”		 	6	  
	1.34		“Retirement,” “Retires” or “Retired”		 	6	  
	1.35		“Second Amendment and Restatement”		 	7	  
	1.36		“Share Price”		 	7	  
	1.37		“Specified Employee”		 	7	  
	1.38		“Stock Unit Account”		 	7	  

  
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	 		 		Page	 
	1.39		“Subsidiary”		 	7	  
	1.40		“Termination of Employment”		 	7	  
	1.41		“Trust”		 	7	  
	1.42		“Unforeseeable Emergency”		 	7	  
	1.43		“Years of Service”		 	7	  
			
			ARTICLE 2				
			
			ELIGIBILITY, SELECTION, ENROLLMENT				
			
	2.1		Eligibility, Selection by Committee		 	7	  
	2.2		Enrollment Requirements		 	7	  
	2.3		Commencement of Participation		 	8	  
			
			ARTICLE 3				
			
			 DEFERRAL CONTRIBUTIONS, INVESTMENT ADJUSTMENTS,

TAXES AND VESTING
				
			
	3.1		Deferral Contributions		 	8	  
	3.2		Maintenance of Participant Accounts		 	10	  
	3.3		Adjustment of Participant Accounts for Earnings		 	10	  
	3.4		Withholding of Taxes		 	11	  
	3.5		Vesting		 	11	  
			
			ARTICLE 4				
			
			SUSPENSION OF DEFERRALS				
			
	4.1		Disability		 	11	  
	4.2		Unforeseeable Emergency		 	12	  
			
			ARTICLE 5				
			
			INTERIM AND HARDSHIP DISTRIBUTIONS				
			
	5.1		Interim Distributions		 	12	  
	5.2		Withdrawal in the Event of an Unforeseeable Emergency		 	12	  
	5.3		No Withdrawal from Stock Unit Account		 	13	  
			
			ARTICLE 6				
			
			PAYMENT OF BENEFITS FOLLOWING TERMINATION OF EMPLOYMENT				
			
	6.1		Payment as a Result of Termination of Employment		 	13	  
	6.2		Death Prior to Payment of Deferral Contribution Account Balance		 	13	  

  
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	 		 		Page	 
			ARTICLE 7				
			
			PAYMENT UPON RETIREMENT, DEATH OR DISABILITY				
			
	7.1		Retirement, Death or Disability Benefit		 	14	  
	7.2		Death Prior to Payment of Deferral Contribution Account Balance		 	14	  
			
			ARTICLE 8				
			
			PAYMENTS ON CHANGE IN CONTROL				
			
	8.1		Deferral Contribution Account		 	15	  
	8.2		Delay for Specified Employees		 	15	  
	8.3		No Duplication of Payments		 	15	  
			
			ARTICLE 9				
			
			FORM OF DISTRIBUTIONS				
			
			ARTICLE 10				
			
			CONTINUING EFFECT OF PRIOR PLAN DOCUMENT FOR PRE-2005 DEFERRALS				
			
	10.1		Continuing Effect of Prior Plan Document on Pre-2005 Deferrals		 	15	  
	10.2		Effect of First Amendment and Restatement, the Second Amendment and Restatement and This Plan Restatement		 	16	  
			
			ARTICLE 11				
			
			BENEFICIARY DESIGNATION				
			
	11.1		Beneficiary		 	16	  
	11.2		Beneficiary Designation, Change, Spousal Consent		 	16	  
	11.3		Acknowledgment		 	16	  
	11.4		No Beneficiary Designation		 	16	  
	11.5		Doubt as to Beneficiary		 	16	  
	11.6		Death of Spouse or Dissolution of Marriage		 	16	  
	11.7		Discharge of Obligations		 	17	  
			
			ARTICLE 12				
			
			TERMINATION, AMENDMENT OR MODIFICATION				
			
	12.1		Termination		 	17	  
	12.2		Amendment		 	17	  
	12.3		Effect of Payment		 	17	  

  
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	 		 		Page	 
			ARTICLE 13				
			
			ADMINISTRATION				
			
	13.1		Committee Duties		 	18	  
	13.2		Agents		 	18	  
	13.3		Binding Effect of Decisions		 	18	  
	13.4		Indemnity of Committee		 	18	  
	13.5		Employer Information		 	18	  
			
			ARTICLE 14				
			
			OTHER BENEFITS AND AGREEMENTS				
			
			ARTICLE 15				
			
			CLAIMS PROCEDURES				
			
	15.1		Presentation of Claim		 	19	  
	15.2		Notification of Decision		 	19	  
	15.3		Review of a Denied Claim		 	19	  
	15.4		Decision on Review		 	20	  
			
			ARTICLE 16				
			
			TRUST				
			
	16.1		Establishment of the Trust		 	20	  
	16.2		Interrelationship of the Plan and the Trust		 	20	  
	16.3		Distributions from the Trust		 	20	  
			
			ARTICLE 17				
			
			ARBITRATION				
			
	17.1		In General		 	20	  
	17.2		Selection of Arbitrator		 	21	  
	17.3		Scope		 	21	  
	17.4		Arbitration Fees		 	21	  
	17.5		Arbitrator’s Award		 	21	  
	17.6		Location of Arbitration		 	21	  
			
			ARTICLE 18				
			
			MISCELLANEOUS				
			
	18.1		Status of Plan		 	22	  
	18.2		Unsecured General Creditor		 	22	  

  
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	 		 		Page	 
	18.3		Employer’s Liability		 	22	  
	18.4		Nonassignability		 	22	  
	18.5		Not a Contract of Employment		 	23	  
	18.6		Furnishing Information		 	23	  
	18.7		Terms		 	23	  
	18.8		Captions		 	23	  
	18.9		Governing Law		 	23	  
	18.10		Notice		 	23	  
	18.11		Successors		 	23	  
	18.12		Validity		 	24	  
	18.13		Incompetent		 	24	  
	18.14		Employer		 	24	  
	18.15		Equitable Adjustment		 	24	  

  
 v 

 PINNACLE ENTERTAINMENT, INC. 

EXECUTIVE DEFERRED COMPENSATION PLAN 

As Amended and Restated Effective May 18, 2015 

THIS PINNACLE ENTERTAINMENT, INC. EXECUTIVE DEFERRED COMPENSATION PLAN, as amended and restated effective May 18, 2015, is adopted
as of the 18th day of May, 2015, by Pinnacle Entertainment, Inc., a Delaware corporation (“Pinnacle”), as follows: 

RECITALS 

WHEREAS, Pinnacle and its subsidiaries have established the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan (the
“Plan”), as of January 1, 2000, to provide additional retirement benefits and income deferral opportunities for a select group of management and highly compensated employees; and 

WHEREAS, Pinnacle intends that the Plan shall at all times be administered and interpreted in such a manner as to constitute an
unfunded nonqualified deferred compensation plan for a select group of management or highly compensated employees and to qualify for all available exemptions from the provisions of ERISA; and 

WHEREAS, to comply with the provisions of the American Jobs Creation Act of 2004, Pinnacle adopted the First Amendment and Restatement
of the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan, effective for deferral of compensation that is earned (i.e., the services that earned such compensation are performed) or vested after December 31, 2004, while retaining
the original provisions of the Plan for deferral of compensation that is earned (i.e., the services that earned such compensation are performed) and vested before January 1, 2005; and 

WHEREAS, to make additional changes to the Plan, Pinnacle adopted the Second Amendment and Restatement of the Pinnacle Entertainment,
Inc. Executive Deferred Compensation Plan, effective December 30, 2007; 
 WHEREAS, to make additional changes to the
Plan, Pinnacle adopted an Amendment and Restatement of the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan, effective January 1, 2011; 

WHEREAS, no deferral predating the adoption of this amendment and restatement shall be affected in any manner that would alter the
compliance of such deferral with Section 409A of the Code. 
 NOW, THEREFORE, Pinnacle hereby amends and restated the
Plan in its entirety effective as of May 18, 2015, as follows: 

 ARTICLE 1 

DEFINITIONS 
 For
purposes of this Plan, the following phrases or terms shall have the meanings indicated: 
 1.1 “Actuarial Equivalent”
shall mean an actuarial equivalent value of an amount payable in a different form or at a different date computed on the basis of a discount rate equal to the Crediting Rate and mortality assumptions under the RP-2000 Male Healthy Annuitant or
RP-2000 Female Healthy Annuitant, as the case may be, table. As the Plan Administrator deems necessary, in its sole discretion, such actuarial assumptions may be adjusted from time-to-time, provided that such actuarial assumptions as adjusted are
reasonable and have substantially the same effect on benefits under this Plan as the actuarial assumptions in effect on December 30, 2007, and no Participant shall be deemed to have any right, vested or non-vested, regarding the continued use
of any previously adopted actuarial assumptions. 
 1.2 “Affiliate” shall mean any member of a group of corporations or
businesses which are aggregated with Pinnacle as a single employer under Sections 414(b), 414(c), 414(m) or 414(o) of the Code. 
 1.3
“Base Annual Salary” shall mean the base annual compensation payable to a Participant by an Employer for services rendered during a Plan Year, (i) excluding Bonus, director fees or other additional incentives or awards payable
to the Participant, but (ii) before reduction for any Elective Deductions. 
 1.4 “Beneficiary” shall mean one or more
persons, trusts, estates or other entities, designated by the Participant in accordance with the Plan or otherwise determined pursuant to the terms of the Plan to receive the Participant’s undistributed benefits in the event of the
Participant’s death. 
 1.5 “Beneficiary Designation Form” shall mean the documents required by the Committee to be
used by the Participant to designate a Beneficiary. 
 1.6 “Benefit Distribution Date” shall mean the date on which the
Participant’s employment terminates for any reason other than Retirement, including but not limited to death or Disability, and if the Participant’s employment terminates due to his Retirement, the first January 1 following such
Participant’s Retirement, as such date may be extended pursuant to Section 2.2(b). 
 1.7 “Benefit Distribution
Form” shall mean the documents required by the Committee to be used by the Participant to specify the manner in which his benefits from his Deferral Contribution Account shall be distributed on or after his Benefit Distribution Date. 

1.8 “Board” shall mean the board of directors of the Employer. 

1.9 “Bonus” shall mean the amounts earned by a Participant for services rendered during a Plan Year under any bonus or
incentive plan or arrangement sponsored by an Employer, before reduction for any Elective Deductions, but excluding commissions, stock-related awards and other non-monetary incentives. 

  
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 1.10 “Change in Control” shall mean the occurrence of any of the following
events: 
 (a) The direct or indirect acquisition by an unrelated “Person” or “Group” of “Beneficial
Ownership” (as such terms are defined below) of more than 50% of the voting power of the Employer’s issued and outstanding voting securities in a single transaction or a series of related transactions; 

(b) The direct or indirect sale or transfer by the Employer of substantially all of its assets to one or more unrelated Persons or Groups in a
single transaction or a series of related transactions; 
 (c) The merger, consolidation or reorganization of the Employer with or into
another corporation or other entity in which the Beneficial Owners of more than 50% of the voting power of the Employer’s issued and outstanding voting securities immediately before such merger or consolidation do not own more than 50% of the
voting power of the issued and outstanding voting securities of the surviving corporation or other entity immediately after such merger, consolidation or reorganization; or 

(d) During any consecutive 12-month period, individuals who at the beginning of such period constituted the Board of the Employer (together
with any new Directors whose election to such Board or whose nomination for election by the stockholders of the Employer was approved by a vote of a majority of the Directors of the Employer then still in office who were either Directors at the
beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of the Employer then in office. 

None of the foregoing events, however, shall constitute a Change in Control if such event is not a “Change in Control Event” under Treasury
Regulations Section 1.409A-3(i)(5) or successor IRS guidance. For purposes of determining whether a Change in Control has occurred, the following Persons and Groups shall not be deemed to be “unrelated”: (A) such Person or Group
directly or indirectly has Beneficial Ownership of more than 50% of the issued and outstanding voting power of the Employer’s voting securities immediately before the transaction in question, (B) the Employer has Beneficial Ownership of
more than 50% of the voting power of the issued and outstanding voting securities of such Person or Group, or (C) more than 50% of the voting power of the issued and outstanding voting securities of such Person or Group are owned, directly or
indirectly, by Beneficial Owners of more than 50% of the issued and outstanding voting power of the Employer’s voting securities immediately before the transaction in question. The terms “Person,” “Group,” “Beneficial
Owner,” and “Beneficial Ownership” shall have the meanings used in the Securities Exchange Act of 1934, as amended. Notwithstanding the foregoing, (I) Persons will not be considered to be acting as a “Group” solely
because they purchase or own stock of this Employer at the same time, or as a result of the same public offering, (II) however, Persons will be considered to be acting as a “Group” if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction, with the Employer, and (III) if a Person, including an entity, owns stock both in the 

  
 3 

 
Employer and in a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar transaction, with the Employer, such shareholders shall be considered to be
acting as a Group with other shareholders only with respect to the ownership in the corporation before the transaction. 
 1.11
“Claimant” shall mean the person or persons described in Section 15.1 who apply for benefits or amounts that may be payable under the Plan. 

1.12 “Code” shall mean the Internal Revenue Code of 1986, as amended, and the regulations and other authority issued there
under by the appropriate governmental authority. References to the Code shall include references to any successor section or provision of the Code. 

1.13 “Combined Account” means the combined balance of a Participant’s Deferral Contribution Account and Stock Unit
Account. 
 1.14 “Committee” shall mean the committee described in Article 13 which shall administer the Plan. 

1.15 “Crediting Rate” shall mean, for the quarter ending December 31, 2007 and earlier periods, the Crediting Rate under
the First Amendment and Restatement, and, for later periods, 
 (a) The average, over the business days of the calendar month preceding the
first business day of each quarter of the Plan Year, of the yields on 30-year U.S. Treasury Bonds, plus 500 basis points, computed and compounded quarterly; and 

(b) Before the beginning of a quarter of a Plan Year, the Committee may designate another floating rate based on an index and a spread of
basis points under or over such index to determine the Crediting Rate (to be computed and compounded quarterly) for the Deferral Contribution Accounts, effective for such quarter of such Plan Year and later periods until the Committee makes a
further change. 
 1.16 “Deferral Contribution” shall mean the total amount of Base Annual Salary or Bonus deferred by a
Participant that would otherwise have been earned during a particular Plan Year (i.e., the Participant performs the services during the Plan Year that earn the Base Annual Salary or Bonus). 

1.17 “Deferral Contribution Account” shall mean a Participant’s aggregate Deferral Contributions for all Plan Years,
plus the balance of the Participant’s “Contingent Earnings Account” as of December 31, 2007 computed under the First Amendment and Restatement and Section 3.3(a)(ii), plus any amounts credited to the Participant’s
Deferral Contribution Account under Section 3.3(a), reduced to reflect all distributions and withdrawals. 
 1.18
“Disability” shall mean (i) inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, or (ii) the receipt of income replacement benefits for a period of not less than three months under an 

  
 4 

 
accident and health plan of the Employer by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months. A Participant shall be deemed to have suffered a Disability if determined to be totally disabled by the Social Security Administration. 

1.19 “Election Form” shall mean the documents required by the Committee to be used by a Participant to elect with respect to
a particular Plan Year (i) the amount of Base Annual Salary and/or Bonus the Participant has elected to defer with respect to that Plan Year, (ii) the portion (if any) of Deferral Contributions with respect to that Plan Year which shall be
distributed on an Interim Distribution Date and (iii) the portion of the Other Stock Unit Awards to be deferred into the Stock Unit Account. 

1.20 “Elective Deductions” shall mean amounts of a Participant’s Base Annual Salary or Bonus that are voluntarily
deferred or contributed by the Participant pursuant to any qualified or non-qualified deferred compensation plan and that would have been payable to the Participant in cash had there been no such deferral or contribution, including, without
limitation, amounts deferred pursuant to Sections 125, 402(e)(3) and 402(h) of the Code. 
 1.21 “Employer” or
“Employers” shall mean Pinnacle Entertainment, Inc., a Delaware corporation, and any of its adopting subsidiaries (now in existence or hereafter formed or acquired) and any successor entity. 

1.22 “Enrollment Forms” shall mean the Participation Agreement, the initial Election Form, the initial Benefit Distribution
Form, the Beneficiary Designation Form, and any other forms or documents which may be required of a Participant by the Committee, in its sole discretion, as a condition to participating in the Plan. 

1.23 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended, and the regulations and other
authority issued there under by the appropriate governmental authority. References herein to any section of ERISA shall include references to any successor section or provision of ERISA. 

1.24 “Final Average Compensation” shall mean the average of a Participant’s Compensation for his five consecutive full
calendar years of employment completed in the 10 calendar years before the date of determination that would yield the highest average. If the Participant has not completed five consecutive full calendar years of employment within the 10 years when
Final Average Compensation is to be determined, all of such Participant’s full calendar years completed within the 10 calendar years before the date of determination shall be counted. For purposes of the preceding definition,
“Compensation” shall mean the annual base salary and cash bonuses, before reduction for compensation deferred pursuant to all qualified, non-qualified and Code Section 125 or 401(k) plans of any Employer, but excluding commissions,
overtime, relocation expenses, incentive payments, non-monetary awards, equity compensation, long-term incentive compensation, directors fees and other fees, and automobile allowances and other expense reimbursements paid to a Participant for
employment services rendered to any Employer, and other fringe benefits. For purposes of determining Final Average Compensation, (a) each bonus shall be attributed to the period in which the Participant performs the services that earn the
bonus, even if the bonus is not payable until a later period and even if 

  
 5 

 
the Participant’s right to the receive the bonus does not vest until a later period, and (b) the Aztar bonus received in 2006 and any severance or similar payment made on account of
termination of employment under any agreement between an Employer and the Participant (including, without limitation, an employment agreement) shall not be counted as a bonus; provided, however, that any bonus amount that the Participant earned
without regard to his termination of employment (or would have earned if his employment had not terminated) during the period that includes his termination of employment, and that is actually paid in connection with his termination of employment,
shall be counted as a bonus. 
 1.25 “First Amendment and Restatement” shall mean the First Amendment and Restatement of
the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan. 
 1.26 “Incentive Plan” shall mean the Pinnacle
Entertainment, Inc. 2005 Equity and Performance Incentive Plan, 2015 Equity and Performance Incentive Plan or any successor thereto. 
 1.27
“Interim Distribution Date” shall mean the 15th day of any calendar year designated by a Participant in an effective Election Form as the date on which all or a part of the Participant’s Deferred Contribution Account shall be
distributed in a lump sum payment, which calendar year (except as provided in Section 5.1 with respect to elections made in calendar 2007 or 2008) shall be no earlier than the second calendar year following the end of the Plan Year to which the
Election Form applies. 
 1.28 “Other Stock Unit Awards” shall mean have the same meaning as the same term as defined under
the Incentive Plan. 
 1.29 “Participant” shall mean any employee participating in the Plan as provided in Article 2. 

1.30 “Participation Agreement” shall mean the document required by the Committee to be used by a Participant to effect an
agreement between the Employer and the Participant to defer compensation pursuant to the terms of the Plan. 
 1.31 “Plan”
shall mean the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan, which shall be evidenced by this instrument, but which shall continue to be evidenced by the Prior Plan Document, for deferrals of Base Annual Salary and Bonuses that
are earned (i.e., the services that earned such Base Annual Salary and Bonuses are performed) and vested before January 1, 2005. 

1.32 “Plan Year” shall mean the period beginning on January 1 of each year and ending December 31. 

1.33 “Prior Plan Document” shall mean the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan, Effective
January 1, 2000, as amended. 
 1.34 “Retirement,” “Retires” or “Retired” shall mean a separation
of service (i) for any reason other than Disability or death, and (ii) on or after the earlier of the attainment of age 55 with five Years of Service, or on or after reaching age 65. 

  
 6 

 1.35 “Second Amendment and Restatement” shall mean the Second Amendment and
Restatement of the Pinnacle Entertainment, Inc. Executive Deferred Compensation Plan, adopted on December 30, 2007 and as amended by the First Amendment thereto, as adopted on December 24, 2008. 

1.36 “Share Price” shall mean the price per share of Common Stock of the Employer determined as of the close of each date of
trading of such stock on a national stock exchange. 
 1.37 “Specified Employee” shall mean a “specified
employee” of Pinnacle or any Affiliate, as defined in Treasury Regulations Section 1.409A-1(i). 
 1.38 “Stock Unit
Account” means the bookkeeping account established and maintained under the Plan for each Participant who elects to defer any portion of his Other Stock Unit Awards or any amounts into Other Stock Unit Awards. 

1.39 “Subsidiary” means any corporation more than 50% of the voting stock of which is directly or indirectly owned by the
Employer. 
 1.40 “Termination of Employment” shall mean the voluntary or involuntary severance from employment, with any
and all Employers, for any reason other than Retirement, Disability, or death. 
 1.41 “Trust” shall mean a grantor trust
of the type commonly referred to as “rabbi trust” created to “informally fund” contingent benefits payable under the Plan. 

1.42 “Unforeseeable Emergency” shall mean a severe financial hardship to the Participant resulting from an illness or
accident of the Participant, the Participant’s spouse, the Participant’s beneficiary, or a dependent (as defined in Section 152 of the Code, without regard to Sections 152(b)(1), 152(b)(2) and 152(d)(1)(B)) of the Participant, loss of
the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant; provided, that in all cases, an Unforeseeable Emergency must also be
an “unforeseeable emergency” as defined in Treasury Regulations Section 1.409A-3(i)(3)(i). 
 1.43 “Years of
Service” shall mean the total number of 12-month periods during which a Participant has been continuously employed by one or more Employers. 

ARTICLE 2

ELIGIBILITY, SELECTION, ENROLLMENT 

2.1 Eligibility, Selection by Committee. Those employees of an Employer who are both (i) determined by the Employer to be
includable in a select group of management or highly compensated employees of the Employer and (ii) specifically chosen by the Employer to participate in the Plan shall be eligible to participate in the Plan. 

2.2 Enrollment Requirements. Each employee deemed eligible to defer compensation into the Plan pursuant to Section 2.1 shall, as a
condition to participating in the Plan, complete 

  
 7 

 
and return to the Committee all of the required Enrollment Forms within the time specified by the Committee. In addition, the Committee shall in its sole discretion, establish such other
enrollment requirements necessary for continued participation in the Plan. 
 (a) The Benefit Distribution Form must be provided to the
Committee as part of the Enrollment Forms. In the Benefit Distribution Form, the Participant shall elect to receive the benefits from his Deferral Contribution Account paid following Retirement in a lump sum or in annual installments over a period
of five, 10 or 15 years, and shall elect to receive the benefits from his Deferral Contribution Account paid upon Termination of Employment, Disability, or death in a lump sum or in annual installments over a period of five years, except that if the
present value (using the Crediting Rate as the discount rate) of annual installments remaining to be made is less than $50,000, the entire remaining balance of his Deferral Contribution Account shall be paid in the form of a lump sum payment. 

(b) The Participant may submit a subsequent Benefit Distribution Form in order to change the form of distribution, or to delay commencement of
the payment of Retirement benefits from his Deferral Contribution Account until the Participant’s 75th birthday; provided however, such form shall be effective only if it (i) does not
accelerate distribution of any benefits, (ii) is submitted at least 13 months before the Participant’s original Benefit Distribution Date, (iii) delays the first payment of benefits from the Deferral Contribution Account for at least
five years past the original Benefit Distribution Date, and (iv) is approved by the Committee, in its sole discretion. 
 2.3
Commencement of Participation. Provided a Participant has met all enrollment requirements set forth in this Plan or otherwise required by the Committee, the Participant’s participation shall commence as provided in Section 3.1(b).
If a Participant fails to meet all such requirements within the specified time period with respect to any Plan Year, the Participant shall not be eligible to defer compensation during that Plan Year. 

ARTICLE 3
 DEFERRAL
CONTRIBUTIONS, INVESTMENT ADJUSTMENTS, 
 TAXES AND VESTING 

3.1 Deferral Contributions. 

(a) Election to Defer. A Participant may make an election to defer the receipt of Base Annual Salary or Bonus earned by the Participant
during any Plan Year (i.e., the Plan Year in which the Participant performs the services that earn the Base Annual Salary or Bonus). With respect to that portion of the Participant’s Bonus that is paid in Other Stock Unit Awards, the
Participant may elect to defer all or a portion of any such award, subject to the terms and conditions of such Bonus award and the Incentive Plan. The Participant’s election shall be made by an annual Election Form, completed and submitted to
the Committee in accordance with the procedures established by the Committee in its sole discretion, but in every case in compliance with the requirement of Section 3.1(b). 

  
 8 

 (b) Election Requirements. The Election Form must be submitted before the beginning of the
Plan Year to which it applies, and shall be effective only for the Base Annual Salary and/or Bonus that the Participant earns (i.e., the Participant performs the services that earn such Base Annual Salary and/or Bonus) in that Plan Year, subject to
the following rules: 
 (i) The Committee may require that Election Forms be filed a stated number of days before the
beginning of the Plan Year to which the Election Forms apply. 
 (ii) Any employee who is selected to participate in this
Plan under Section 2.1 during a Plan Year may elect to participate and commence deferrals by filing an Election Form within 30 days following his designation as a Participant, in which case the Election Form shall be effective for Base Annual
Salary and/or Bonus earned (i.e., the Participant performs the services that earn such Base Annual Salary and/or Bonus) after the date of the filing of such Election Form. 

(iii) In the case of any bonus which is “performance-based compensation,” within the meaning of Treasury Regulations
Section 1.409A-1(e), based on services performed over a period of at least 12 months, the Committee may permit a Participant to file an Election Form applying to such Bonus not later than six months before the end of such period, provided that
(a) the Participant performs services continuously for an Employer from the later of the beginning of the performance period or the date the performance criteria are established through the date on which the Election Form is filed, and
(b) the Election Form is filed before the amount of the “performance-based compensation” is readily ascertainable. 

(iv) Each Election Form shall be irrevocable during the Plan Year to which it relates, or, if it relates to a Bonus which is
“performance-based compensation,” within the meaning of Treasury Regulations Section 1.409A-1(e), based on services performed over a period of at least 12 months, during such 12-month period. 

(v) For deferrals of Bonuses earned in 2008, the Committee, in its discretion, may permit Participants to file Election Forms
at times permitted under the transition rules of IRS Notice 2007-86 and other IRS guidance. 
 (c) Components of Deferral
Contributions. 
 (i) Base Annual Salary. A Participant may designate a fixed dollar amount to be deducted from
his Base Annual Salary. Such amount shall be withheld, in substantially equal installments, from each regularly scheduled payment of Base Annual Salary. 

(ii) Bonus. A Participant may designate a fixed dollar amount or a percentage to be deducted from his Bonus. If a fixed
dollar amount is designated by the Participant to be deducted from any Bonus payment and such fixed dollar amount exceeds the Bonus actually payable to the Participant, the entire amount of such Bonus shall be withheld. A Participant also may elect
to defer a percentage of all or a portion of his Bonus that is payable in Other Stock Unit Awards, subject to the terms and conditions of such Bonus award and the Incentive Plan. 

  
 9 

 (d) Minimum Deferral. 

(i) Minimum. A Participant may not elect to defer a total amount of Base Annual Salary and Bonus during a Plan Year of
less than $3,000. If an Election Form is submitted which would yield less than the stated minimum amount, the amount deferred shall be zero. 

(ii) Short Plan Year. If an Employee first becomes a Participant after the first day of any Plan Year, the minimum
deferral amount shall be an amount equal to $3,000 multiplied by a fraction, the numerator of which is the number of complete months remaining in the Plan Year after the Employee becomes a Participant and the denominator of which is 12. 

(e) Maximum Deferral. A Participant may not elect to defer more than the following percentages: 

 

					
	 Deferral
	  	 Maximum Percentage
	 
	 Base Annual Salary
	  	 	75	% 
	 Bonus
	  	 	90	% 

 3.2 Maintenance of Participant Accounts. The Committee shall account separately for each
Participant’s Deferral Contribution Account, Stock Unit Account and Combined Account. 
 (a) Within the Deferral Contribution Account
of each person who was a Participant in this Plan before January 1, 2005, the Committee shall keep sub-accounts to reflect the portion of such Participant’s account balance attributable to deferrals of Base Annual Salary and Bonuses that
were earned (i.e., the services that earned such Base Annual Salary and Bonuses are performed) and vested before January 1, 2005 (which shall continue to be governed by the provisions of the Prior Plan Document, including, without limitation,
the provisions thereof dealing with “Hypothetical Investments” as defined therein) and the portion of such Participant’s account balance attributable to deferrals of Base Annual Salary and Bonuses that is earned (i.e., the services
that earned such compensation are performed) or vested after December 31, 2004 (which shall be governed by the terms and provisions of the First Amendment and Restatement or of this Second Amendment and Restatement, as applicable). 

(b) Deferral Contributions shall be deemed to be made to the Plan by the Participant and credited to the Deferral Contribution Account on the
date the Participant would have received such compensation had it not been deferred pursuant to the Plan. 
 3.3 Adjustment of
Participant Accounts for Earnings. 
 (a) With respect to deferrals made in cash: 

(i) From and after January 1, 2008, amounts in each Participant’s Deferral Contribution Account attributable to
deferrals of Base Annual Salary and Bonuses that is earned (i.e., the services that earned such compensation are performed) or vested after December 31, 2004, shall be credited on the final day of each quarter of the Plan Year with earnings at
the Crediting Rate on the opening balance of such Deferral Contribution Account for such quarter. 

  
 10 

 (ii) On December 31, 2007, the Employer shall credit to the “Contingent
Earnings Account” of each Participant under the First Amendment and Restatement an amount equal to (i) earnings calculated at 10% per annum, compounded quarterly, on the total of the opening balance for such quarter of the
Participant’s Combined Account (as then defined and computed under the First Amendment and Restatement), less (ii) the amount of earnings credited for such quarter to the Participant’s Deferred Contribution Account pursuant to
Section 3.3(a) of the First Amendment and Restatement. 
 (b) With respect to deferrals of Other Stock Unit Awards, the Employer shall
credit the Stock Unit Account on the final day of each quarter of the Plan Year for earnings (or losses) related to the Share Price. 
 3.4
Withholding of Taxes. 
 (a) Annual Withholding from Compensation. For any Plan Year in which Deferral Contributions are made
to the Plan, the Employer shall withhold the Participant’s share of FICA, FUTA and other employment taxes from the portion of the Participant’s Base Annual Salary and/or Bonus or other compensation not deferred. If deemed appropriate by
the Employer, the amount of deferrals elected on a Participant’s Election Form may be reduced where necessary to facilitate compliance with applicable withholding requirements. If any taxes, including but not limited to, FICA, FUTA and other
employment taxes with respect to the Combined Account, are required to be withheld before the time of payment, the Employer may withhold such amounts from other compensation paid to the Participant. 

(b) Withholding from Benefit Distributions. The Participant’s Employer (or the trustee of the Trust, as applicable) shall withhold
from any payments made to a Participant or Beneficiary under this Plan all federal, state and local income, FICA, FUTA and other employment and other taxes required to be withheld by the Employer (or the trustee of the Trust, as applicable), in
connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Employer (or the trustee of the Trust, as applicable). 

3.5 Vesting. The Participant shall at all times be 100% vested in his Deferral Contribution Account. As of December 31, 2007, each
Participant shall be 100% vested in the balance of his “Contingent Earnings Account” under the First Amendment and Restatement, which such Contingent Earnings Account shall then be combined with his Deferral Contribution Account. 

ARTICLE 4 

SUSPENSION OF DEFERRALS 

4.1 Disability. If a Participant suffers a Disability, any current Election Form may be cancelled, provided that such cancellation
shall occur by the later of the end of the taxable year of the Participant or the 15th day of the third month, following the date on which the Participant suffers the Disability. 

  
 11 

 4.2 Unforeseeable Emergency. If a Participant is authorized by the Committee to take a
withdrawal on account of Unforeseeable Emergency under Section 5.2, any current Election Form shall be cancelled. 
 ARTICLE
5
 INTERIM AND HARDSHIP DISTRIBUTIONS 

5.1 Interim Distributions. A Participant may make an election, at the time he files an Election Form for a Plan Year, to have a
specified amount or percentage paid from his Deferral Contribution Account on one or more Interim Distribution Dates. The Participant’s selection of an Interim Distribution Date must be made on a timely, effective Election Form. The amounts
which would otherwise be paid on such Interim Distribution Date or Dates shall be distributed upon the earlier occurrence of Participant’s Benefit Distribution Date. Notwithstanding the foregoing, (A) during calendar 2007, a Participant
may elect, by written notice to the Committee, that all or a portion of his Combined Account as of December 31, 2007 (as defined and computed under the provisions of the First Amendment and Restatement) be distributed on an Interim Distribution
Date, provided that no such election shall have the effect of deferring until calendar 2008 or later any benefit payments under this Plan that would otherwise have been paid in calendar 2007, or of accelerating into calendar 2007 any benefit
payments under this Plan that would otherwise have been paid in calendar 2008 or later, and (B) during calendar 2008, a Participant may elect, by written notice to the Committee, that all or a portion of his Combined Account as of
December 31, 2008 be distributed on an Interim Distribution Date of January 15, 2009 or January 15 of any later year, provided that (i) no such election shall have the effect of deferring until calendar 2009 or later any benefit
payments under this Plan that would otherwise have been paid in calendar 2008, or of accelerating into calendar 2008 any benefit payments under this Plan that would otherwise have been paid in calendar 2009 or later, and (ii) no Participant who
makes such election shall be entitled to elect to defer Base Annual Salary or Bonus earned by the Participant during 2009 (i.e., Base Annual Salary or Bonus for which the Participant performs services in 2009) into the Plan. 

5.2 Withdrawal in the Event of an Unforeseeable Emergency. A Participant who believes he has experienced an Unforeseeable Emergency may
request in writing a withdrawal of a portion of his Deferral Contribution Account to satisfy the emergency. The Committee shall determine, in its sole discretion, (i) whether an Unforeseeable Emergency has occurred, and (ii) the amount
reasonably required to satisfy the Unforeseeable Emergency; provided, that the withdrawal shall not exceed the balance in the Participant’s Deferral Contribution Account, or the amount the Committee reasonably determines to be necessary to meet
such emergency needs (including taxes reasonably anticipated to be incurred by reason of a taxable distribution) after taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or
otherwise or by liquidation of the Participant’s assets (unless the liquidation of such assets would itself cause severe financial hardship); provided, further, that any such withdrawal or determination by the Committee shall meet the
requirements of Treasury Regulations Section 1.409A-3(i)(3)(ii). The Committee shall also take 

  
 12 

 
into account the current compensation available to the Participant by reason of the cancellation of any current Election Form under Section 4.2. If, subject to the sole discretion of the
Committee, the petition for a withdrawal is approved, the distribution shall be made within 30 days of the date of approval by the Committee. 

5.3 No Withdrawal from Stock Unit Account. The Stock Unit Account shall not be available for distribution in the event of a
Participant’s Unforeseeable Emergency. 
 ARTICLE 6 

PAYMENT OF BENEFITS FOLLOWING TERMINATION OF EMPLOYMENT 

6.1 Payment as a Result of Termination of Employment. If a Participant’s Benefit Distribution Date occurs as a result of such
Participant’s Termination of Employment, the balance of a Participant’s Deferral Contribution Account as of the Benefit Distribution Date shall be paid in the manner elected in the Participant’s most recent effective Benefit
Distribution Form; provided, however, that: 
 (a) If the present value (using the Crediting Rate as the discount rate) of annual
installments remaining to be made is less than $50,000, the entire remaining balance of his Deferral Contribution Account (excluding his Stock Unit Account) shall be paid in the form of a lump sum payment not later than 30 days after the
determination of the present value of the annual installments remaining to be paid; and 
 (b) Notwithstanding any other provision of this
Plan, if any stock of an Employer or any Affiliate is publicly traded on an established securities market or otherwise, no payment shall be made to a Specified Employee on account of the Specified Employee’s separation from service within six
months after such Specified Employee’s separation from service (or, if earlier, the date of his death). Any amounts subject to delayed payment under the preceding sentence shall be paid on the first business day after the expiration of such
six-month period, together with any earnings accrued in the Deferral Contribution Account on such amounts during such six-month period. This Section 6.1(b) is intended to comply with the requirements of Section 409A of the Code and shall
be interpreted accordingly. 
 If the balance of a Participant’s Deferral Contribution Account is to be distributed in annual
installments, the first installment shall be paid not later than 30 days after the Participant’s Benefit Distribution Date. The initial installment shall be the product of the balance of the Participant’s Deferral Contribution Account,
measured on his Benefit Distribution Date, multiplied by 1/n (where “n” is equal to the total number of annual benefit payments not yet distributed). Subsequent installment payments shall be computed in a consistent fashion, and shall
equal the product of the balance of the Participant’s Deferral Contribution Account, measured on the applicable anniversary of his Benefit Distribution Date, multiplied by 1/n. 

(c) The Stock Unit Account shall be paid in full Shares. 

6.2 Death Prior to Payment of Deferral Contribution Account Balance. If a Participant dies after his Termination of Employment but
before the full payment of amounts due to him under this Article 6 from his Deferral Contribution Account, the Participant’s unpaid amounts from his Deferral Contribution Account shall be paid to the Participant’s Beneficiary in the manner
determined under Section 6.1. 

  
 13 

 ARTICLE 7

PAYMENT UPON RETIREMENT, DEATH OR DISABILITY 

7.1 Retirement, Death or Disability Benefit. In the event of the Participant’s Retirement, or death or Disability during
employment, the balance in his Deferral Contribution Account shall be paid to the Participant or the Participant’s Beneficiary, as applicable, in the manner in which the Participant elected in Participant’s most recent effective Benefit
Distribution Form; provided, however, that: 
 (a) If a Participant who dies or becomes Disabled would otherwise have been eligible to
Retire, his benefits shall be payable in accordance with the provisions of his most recent effective Benefit Distribution Form applicable to Retirement, rather than with the provisions of such Benefit Distribution Form applicable to death or
Disability; 
 (b) Notwithstanding any other provision of this Plan, if any stock of an Employer or any Affiliate is publicly traded on an
established securities market or otherwise, and payment of benefits under this Section 7.1 to a Participant who is a Specified Employee would be deemed to be on account of his separation from service under Section 409A of the Code, no
payments shall be made to such Specified Employee within six months after such Specified Employee’s separation from service (or, if earlier, the date of his death). Any amounts subject to delayed payment under the preceding sentence shall be
paid on the first business day after the expiration of such six-month period, together with any earnings accrued in the Deferral Contribution Account on such amounts during such six-month period. This Section 7.1(b) is intended to comply with
the requirements of Section 409A of the Code and shall be interpreted accordingly; and 
 (c) If the present value (using the Crediting
Rate as the discount rate) of annual installments remaining to be made is less than $50,000, the entire remaining balance of his Deferral Contribution Account shall be paid in the form of a lump sum payment not later than 30 days after the
determination of the present value of the annual installments remaining to be paid. If the balance of the Deferral Contribution Account is to be distributed in annual installments, the first installment shall be paid not later than 30 days after the
Participant’s Benefit Distribution Date. The initial installment shall be the product of the balance of the Participant’s Deferral Contribution Account, measured on his Benefit Distribution Date, multiplied by 1/n (where “n” is
equal to the total number of annual benefit payments not yet distributed). Subsequent installment payments shall be computed in a consistent fashion, and shall equal the product of the balance of the Participant’s Deferral Contribution Account,
measured on the applicable anniversary of his Benefit Distribution Date, multiplied by 1/n. 
 7.2 Death Prior to Payment of Deferral
Contribution Account Balance. If a Participant dies after he has Retired or suffered a Disability but before the full payment of amounts from his Deferral Contribution Account due to him under this Article 7, the Participant’s unpaid
amounts from his Deferral Contribution Account shall be paid to the Participant’s Beneficiary in the manner determined under Section 7.1. 

  
 14 

 ARTICLE 8 

PAYMENTS ON CHANGE IN CONTROL 

Notwithstanding any other provision of this Plan, to the extent permitted in regulations or other guidance promulgated by the IRS under
Section 409A of the Code: 
 8.1 Deferral Contribution Account. The balance of each Participant’s Deferral Contribution
Account shall be distributed to him (or to his Beneficiary if he has died) in one lump sum within 30 days after the happening of a Change in Control. 

8.2 Delay for Specified Employees. Notwithstanding anything contained in this Plan to the contrary, no distribution of the Annuity
Contract, or payment of other amounts under this Article 8, shall be made to a Participant who is a Specified Employee within six months after such Specified Employee’s separation from service (or, if earlier, the date of his death) if
(a) any stock of the Employer or any direct or indirect parent of the Employer is publicly traded on an established securities market or otherwise, and (b) such distribution or payment would be deemed to be made upon such Specified
Employee’s separation from service under Section 409A of the Code. This Section 8.2 is intended to comply with the requirements of Section 409A of the Code and shall be interpreted accordingly. 

8.3 No Duplication of Payments. If payments are made under this Article 8, neither the Participant nor his Beneficiary shall be
entitled to any other benefits under this Plan. 
 ARTICLE 9 

FORM OF DISTRIBUTIONS 

Distributions hereunder shall be made in cash, except that distributions of units credited to a Participant’s Stock Unit Account shall be
made by issuing to such Participant an equivalent number of Shares. Notwithstanding the foregoing, no fractional Shares will be issued and any fractional unit will be distributed by payment of cash in the amount represented by the fractional unit
based on the fair market value on the date immediately preceding the payment date. 
 ARTICLE 10 

CONTINUING EFFECT OF PRIOR PLAN DOCUMENT FOR PRE-2005 DEFERRALS 

10.1 Continuing Effect of Prior Plan Document on Pre-2005 Deferrals. The provisions of the Prior Plan Document, including but not
limited to the provisions thereof regarding “Hypothetical Investments” and “Investment Adjustments,” (as such terms are defined in the Prior Plan Document) shall continue in effect for deferrals of Base Annual Salary and Bonuses
earned that were earned (i.e., the services that earned such Base Annual Salary and Bonuses are performed) and vested before January 1, 2005, and earnings credited thereon. 

  
 15 

 10.2 Effect of First Amendment and Restatement, the Second Amendment and Restatement and This
Plan Restatement. The provisions of the First Amendment and Restatement, the Second Amendment and Restatement and any amendment and restatement thereafter and the Plan as amended and restated herein shall govern only deferrals of Base Annual
Salary and Bonuses that are earned (i.e., the services that earned such Base Annual Salary and Bonuses are performed) or vested after December 31, 2004, and earnings (including, but not limited to, Contingent Earnings) thereon. 

ARTICLE 11 

BENEFICIARY DESIGNATION 

11.1 Beneficiary. Each Participant shall have the right, at any time, to designate a Beneficiary or Beneficiaries to receive, in the
event of the Participant’s death, those benefits payable under the Plan. The Beneficiary(ies) designated under this Plan may be the same as, or different from, the Beneficiary designation made under any other plan of the Employer. 

11.2 Beneficiary Designation, Change, Spousal Consent. A Participant shall designate his Beneficiary by completing and signing a
Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the right to change his Beneficiary by completing, signing and submitting to the Committee a revised Beneficiary Designation Form in
accordance with the Committee’s rules and procedures, as in effect from time to time. If the Participant names someone other than his spouse as a Beneficiary, a spousal consent, in the form designated by the Committee, must be signed by that
Participant’s spouse and returned to the Committee. Upon acknowledgement by the Committee of a revised Beneficiary Designation Form, all Beneficiary designations previously filed shall be deemed canceled. The Committee shall be entitled to rely
on the last Beneficiary Designation Form both (i) filed by the Participant and (ii) acknowledged by the Committee, prior to his death. 

11.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and
acknowledged in writing by the Committee or its designated agent. 
 11.4 No Beneficiary Designation. If a Participant fails to
designate a Beneficiary as provided above or, if all designated Beneficiaries predecease the Participant, or die prior to complete distribution of the Participant’s benefits, then the Participant’s designated Beneficiary shall be deemed to
be his surviving spouse. If the Participant has no surviving spouse, the benefits remaining under the Plan shall be payable to the executor or personal representative of the Participant’s estate. 

11.5 Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan,
the Committee shall have the right, exercisable in its discretion, to cause the Participant’s Employer to withhold such payments until this matter is resolved to the Committee’s satisfaction. 

11.6 Death of Spouse or Dissolution of Marriage. A Participant’s Beneficiary designation shall be deemed automatically revoked if
the Participant has named a spouse 

  
 16 

 
as Beneficiary and the marriage is later dissolved. Without limiting the generality of the preceding sentence, the interest in benefits of a spouse of a Participant who has predeceased the
Participant or whose marriage has been dissolved shall automatically pass to the Participant, and shall not be transferable by such spouse in any manner, including but not limited to, passage under such spouse’s will or under the laws of
intestate succession. 
 11.7 Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and
completely discharge the Employers and the Committee from all further obligations under this Plan with respect to the Participant, and the Participant’s Participation Agreement shall terminate upon such full payment of benefits. 

ARTICLE 12 

TERMINATION, AMENDMENT OR MODIFICATION 

12.1 Termination. Although the Employer anticipates that the Plan will continue for an indefinite period of time, there is no guarantee
that any Employer will continue the Plan or will not terminate the Plan at any time in the future. Accordingly, each Employer reserves the right to discontinue its sponsorship of the Plan and to terminate the Plan, at any time, with respect to its
participating Employees by action of its board of directors. Upon the termination of the Plan with respect to any Employer, all amounts credited to the Combined Account of each affected Participant shall be paid to the Participant or, in the case of
the Participant’s death, to the Participant’s Beneficiary, at the times and in the manner in which they would have been paid if no termination of the Plan had occurred. 

12.2 Amendment. The Employer may, at any time, amend or modify the Plan in whole or in part with respect to any or all Employers by the
actions of the Board; provided, however, that (i) no amendment (including a Plan termination) or modification (including a Plan termination) shall be effective to decrease or restrict the balance of a Participant’s Combined Account or any
component thereof in existence at the time the amendment or modification is made, calculated as if the Participant had experienced a Termination of Employment as of the effective date of the amendment or modification, or, if the amendment or
modification occurs after the date upon which the Participant was eligible to Retire, calculated as if the Participant had Retired as of the effective date of the amendment or modification, and (ii) except as specifically provided in
Section 12.1, no amendment or modification shall be made after a Change in Control which adversely affects the vesting, calculation or payment of benefits hereunder or diminishes any other rights (including the right to take a distribution
option provided in the Plan prior to the Change in Control) or protections any Participant or Beneficiary would have had, but for such amendment or modification, unless each affected Participant or Beneficiary consents in writing to such amendment.

 12.3 Effect of Payment. The full payment of the applicable benefit under the provisions of the Plan shall completely discharge all
obligations to a Participant and his designated Beneficiaries under this Plan and each of the Participant’s Participation Agreement shall terminate. 

  
 17 

 ARTICLE 13 

ADMINISTRATION 

13.1 Committee Duties. This Plan shall be administered by a Committee which shall consist of the Board, or such committee as the Board
shall appoint. Members of the Committee may be Participants under this Plan. The Committee shall also have the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of
this Plan and (ii) decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall not vote or act on any matter
relating solely to himself or herself. When making a determination or calculation, the Committee shall be entitled to rely on information furnished by Participant or the Employer. 

13.2 Agents. In the administration of this Plan, the Committee may, from time-to-time, employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed representative) and may from time-to-time consult with counsel who may be counsel to any Employer. 

13.3 Binding Effect of Decisions. The decision or action of the Committee with respect to any question arising out of or in connection
with the administration, interpretation and application of the Plan and rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

13.4 Indemnity of Committee. All Employers shall indemnify and hold harmless the members of the Committee, and any Employee to whom
duties of the Committee may be delegated, against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in case of willful misconduct by the Committee or any of its
members or any such employee. 
 13.5 Employer Information. To enable the Committee to perform its functions, each Employer shall
supply full and timely information to the Committee on all matters relating to the compensation of its Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of its Participants, and such other
pertinent information as the Committee may reasonably require. 
 ARTICLE 14 

OTHER BENEFITS AND AGREEMENTS 

The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits available to
such Participant under any other plan or program for employees of the Participant’s Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or programs except as may otherwise be expressly provided. 

  
 18 

 ARTICLE 15 

CLAIMS PROCEDURES 

15.1 Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to
below as a “Claimant”) may deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the contents of a notice received by the Claimant,
the claim must be made within 60 days after such notice was received by the Claimant. The claim must state with particularity the determination desired by the Claimant. All other claims must be made within 180 days of the date on which the event
that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant. 
 15.2
Notification of Decision. The Committee shall consider a Claimant’s claim within a reasonable time, and shall notify the Claimant in writing: 

(a) that the Claimant’s requested determination has been made, and that the claim has been allowed in full; or 

(b) that the Committee has reached a conclusion contrary, in whole or in part, to the Claimant’s requested determination, and such notice
must set forth in a manner calculated to be understood by the Claimant: 
 (i) the specific reason(s) for the denial of the
claim, or any part of it; 
 (ii) specific reference(s) to pertinent provisions of the Plan upon which such denial was based;

 (iii) a description of any additional material or information necessary for the Claimant to perfect the claim, and an
explanation of why such material or information is necessary; and 
 (iv) an explanation of the claim review procedure set
forth in Section 15.3 below. 
 15.3 Review of a Denied Claim. Within 60 days after receiving a notice from the Committee that a
claim has been denied, in whole or in part, a Claimant (or the Claimant’s duly authorized representative) may file with the Committee a written request for a review of the denial of the claim. Thereafter, but not later than 30 days after the
review procedure began, the Claimant (or the Claimant’s duly authorized representative): 
 (a) may review pertinent documents; 

(b) may submit written comments or other documents; and/or 

(c) may request a hearing, which the Committee, in its sole discretion, may grant. 

  
 19 

 15.4 Decision on Review. The Committee shall render its decision on review promptly, and
not later than 60 days after the filing of a written request for review of the denial, unless a hearing is held or other special circumstances require additional time, in which case the Committee’s decision must be rendered within 120 days
after such date. Such decision must be written in a manner calculated to be understood by the Claimant, and it must contain: 
 (a) specific
reasons for the decision; 
 (b) specific reference(s) to the pertinent Plan provisions upon which the decision was based; and 

(c) such other matters as the Committee deems relevant. 

ARTICLE 16 
 TRUST

 16.1 Establishment of the Trust. The Employer may establish one or more Trusts to which the Employers may transfer such
assets as the Employers determine in their sole discretion to assist in meeting their obligations under the Plan. 
 16.2
Interrelationship of the Plan and the Trust. The provisions of the Plan and the Participation Agreement shall govern the rights of a Participant to receive distributions pursuant to the Plan. The provisions of the Trust shall govern the
rights of the Employers, Participants and the creditors of the Employers to the assets transferred to the Trust. 
 16.3 Distributions
from the Trust. Each Employer’s obligations under the Plan may be satisfied with Trust assets distributed pursuant to the terms of the Trust, and any such distribution shall reduce the Employer’s obligations under this Agreement. 

ARTICLE 17 

ARBITRATION 
 17.1
In General. Any controversy, dispute, or claim not resolved under the claims procedure set forth in Article 15, including any claim arising out of, in connection with, or in relation to the formation, interpretation, performance or breach of
this Plan or any action of the Committee, shall be settled exclusively by arbitration, before a single arbitrator, in accordance with this Article 17 and the then-most applicable rules of the American Arbitration Association. Judgment upon any award
rendered by the arbitrator may be entered by any state or federal court having jurisdiction thereof. Such arbitration shall be administered by the American Arbitration Association only if one (or both) of the parties requests such administration.
Arbitration shall be the exclusive remedy for determining any such dispute, regardless of its nature. Notwithstanding the foregoing, either party may in an appropriate matter apply to a court for provisional relief, including a temporary restraining
order or a preliminary injunction, on the ground that the award to which the applicant may be entitled in arbitration may be rendered ineffectual without provisional relief. 

  
 20 

 17.2 Selection of Arbitrator. In the event the parties are unable to agree upon an
arbitrator, the parties shall select a single arbitrator from a list of nine arbitrators drawn by the parties at random from the “Independent” (or “Gold Card”) list of retired judges. If the parties are unable to agree upon an
arbitrator from the list so drawn, then the parties shall each strike names alternately from the list, with the first to strike being determined by lot. After each party has used four strikes, the remaining name on the list shall be the arbitrator.
If such person is unable to serve for any reason, the parties shall repeat this process until an arbitrator is selected. 
 17.3
Scope. This agreement to resolve any disputes by binding arbitration shall extend to claims against any parent, subsidiary or affiliate of each party, and, when acting within such capacity, any officer, director, shareholder, employee or
agent of each party, or of any of the above, and shall apply as well to claims arising out of state and federal statutes and local ordinances as well as to claims arising under the common law. In the event of a dispute subject to this Article 17,
the parties shall be entitled to reasonable discovery subject to the discretion of the arbitrator. The remedial authority of the arbitrator shall be the same as, but no greater than, would be the remedial power of a court having jurisdiction over
the parties and their dispute. The arbitrator shall, upon an appropriate motion, dismiss any claim without an evidentiary hearing if the party bringing the motion establishes that he or it would be entitled to summary judgment if the matter had been
pursued in court litigation. In the event of a conflict between the applicable rules of the American Arbitration Association and these procedures, the provisions of these procedures shall govern. 

17.4 Arbitration Fees. In any arbitration hereunder, the Employer shall pay all administrative fees of the arbitration and all fees of
the arbitrator, except that the Participant or Beneficiary may, if he wishes, pay up to one-half of those amounts. Each party shall pay its own attorneys’ fees, costs, and expenses, unless the arbitrator orders otherwise. The prevailing party
in such arbitration, as determined by the arbitrator, and in any enforcement or other court proceedings, shall be entitled, to the extent permitted by law, to reimbursement from the other party for all of the prevailing party’s costs (including
but not limited to the arbitrator’s compensation), expenses, and attorneys’ fees. 
 17.5 Arbitrator’s Award. The
arbitrator shall render an award and written opinion, and the award shall be final and binding upon the parties. If any of the provisions of this Article 17, or of this Plan, are determined to be unlawful or otherwise unenforceable, in whole or in
part, such determination shall not affect the validity of the remainder of this Plan, and this Plan shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible and to insure that the resolution of all
conflicts between the parties, including those arising out of statutory claims, shall be resolved by neutral, binding arbitration. If a court should find that this Section’s arbitration provisions are not absolutely binding, then the parties
intend any arbitration decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder of fact, and treated as determinative to the maximum extent permitted by law. 

17.6 Location of Arbitration. Unless mutually agreed by the parties otherwise, any arbitration shall take place in the City of Las
Vegas, Nevada. 

  
 21 

 ARTICLE 18 

MISCELLANEOUS 

18.1 Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that
“is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employee” within the meaning of ERISA. The Plan shall be administered and
interpreted to the extent possible in a manner consistent with that intent. All Participant accounts and all credits and other adjustments to such Participant accounts shall be bookkeeping entries only and shall be utilized solely as a device for
the measurement and determination of amounts to be paid under the Plan. No Participant accounts, credits or other adjustments under the Plan shall be interpreted as an indication that any benefits under the Plan are in any way funded. 

18.2 Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable
rights, interests or claims in any property or assets of an Employer. Any Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. The Combined Account shall be utilized solely
as a device for the measurement of amounts to be paid to the Participant under the Plan. The Combined Account shall not constitute or be treated as an escrow, trust fund, or any other type of funded account for Code or ERISA purposes and, moreover,
contingent amounts credited thereto shall not be considered “plan assets” for ERISA purposes. The Combined Account merely provides a record of the bookkeeping entries relating to the contingent benefits that the Employer intends to provide
Participant and shall thus reflect a mere unsecured promise to pay such amounts in the future. 
 18.3 Employer’s Liability. An
Employer’s liability for the payment of benefits shall be defined only by the Plan and the Participation Agreement, as entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan
except as expressly provided in the Plan and his Participation Agreement. 
 18.4 Nonassignability. Neither a Participant nor any
other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in actual receipt, the amount, if any, payable hereunder, or any part thereof, which
are, and all rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any
debts, judgments, alimony or separate maintenance owned by a Participant or any other person, be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency or be transferable to a spouse
as a result of a property settlement or otherwise. Notwithstanding the foregoing, if, as a result of divorce or dissolution of marriage, a Participant is responsible for child support, alimony, or marital property rights payments, his benefits under
this Plan may be assigned to meet those payments if a domestic relations order (as such term is used in ERISA) has been issued for the Plan, and the Plan Administrator has determined that such domestic relations order is a qualified domestic
relations order (as such term is used in ERISA). 

  
 22 

 18.5 Not a Contract of Employment. The terms and conditions of this Plan and the
Enrollment Forms shall not be deemed to constitute a contract of employment between any Employer and the Participant. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for
any reason, or no reason, with or without cause, and with or without notice, except as otherwise provided in a written employment agreement. Nothing in this Plan or any Participation Agreement shall be deemed to give a Participant the right to be
retained in the service of any Employer as an Employee or to interfere with the right of any Employer to discipline or discharge the Participant at any time. 

18.6 Furnishing Information. A Participant or his Beneficiary will cooperate with the Committee by furnishing any and all information
requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to taking such physical examinations as the Committee
may deem necessary. 
 18.7 Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were
in the feminine in all cases where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where
they would so apply. 
 18.8 Captions. The captions of the articles, sections or paragraphs of this Plan are for convenience only and
shall not control or affect the meaning or construction of any of its provisions. 
 18.9 Governing Law. Subject to ERISA, the
provisions of this Plan shall be construed and interpreted according to the internal laws of the State of Nevada without regard to its conflicts of law principles. 

18.10 Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing
and hand-delivered, or sent by registered or certified mail, to the address below: 
 Pinnacle Entertainment, Inc. 

3980 Howard Hughes Parkway 

Las Vegas, Nevada 89169 

Attn: General Counsel 

Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or the
receipt for registration or certification. 
 Any notice or filing required or permitted to be given to a Participant under this Plan shall
be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant. 
 18.11 Successors.
The provisions of this Plan shall bind and inure to the benefit of the Participant’s Employer and its successors and assigns and the Participant and the Participant’s designated Beneficiaries. 

  
 23 

 18.12 Validity. In case any provision of this Plan shall be illegal or invalid for any
reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

18.13 Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person
declared incompetent or to a person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor,
incompetent or incapable person. The Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of
the Participant and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

18.14 Employer. Each Subsidiary of Pinnacle can become an adopting Employer with the consent of Pinnacle by filing with the Committee a
certified copy of a resolution of the Board of Directors of the Subsidiary providing for its adoption of the Plan and a certified copy of a resolution of the Board of Directors of Pinnacle consenting to such adoption. 

18.15 Equitable Adjustment. The Stock Unit Account shall be subject to adjustment in accordance with Section 12.2 of the Pinnacle
Entertainment, Inc. 2005 Equity and Performance Incentive Plan and the Pinnacle Entertainment, Inc. 2015 Equity and Performance Incentive Plan. 

  
 24 

 IN WITNESS WHEREOF, the Employer has signed this Plan as of May 18, 2015, effective
May 18, 2015. 
  

			
	Pinnacle Entertainment, Inc.
	A Delaware Corporation
		
	By:		 /s/ John A. Godfrey

		
	Name:		 John A. Godfrey

			(printed name)
		
	Title:		Executive Vice President,
			Secretary and General Counsel

  
 25Exhibit 10.1

 

 

NOTE PURCHASE AGREEMENT

 

THIS NOTE
PURCHASE AGREEMENT (this “Agreement”) is dated as of May 20, 2015 (the “Agreement Date”),
by and between OMAGINE, INC., a corporation organized and existing under the laws of the State of Delaware (the “Company”),
and YA GLOBAL MASTER SPV, LTD., a Cayman Islands exempt limited partnership (the “Investor”).

WITNESSETH

 

WHEREAS, the
parties desire that, upon the terms and subject to the conditions contained herein, the Company may issue and sell to the Investor,
as provided herein, and the Investor shall purchase a note substantially in the form attached hereto as Exhibit A (the “Note”)
in an aggregate principal amount of $500,000;

WHEREAS, on
April 22, 2014, the parties entered into a Standby Equity Distribution Agreement (the “SEDA”); and

NOW, THEREFORE,
in consideration of the mutual covenants and other agreements contained in this Agreement the Company and the Investor hereby agree
as follows:

1.     
PURCHASE AND SALE OF NOTE;

(a)               
Purchase of Note. On the first business day following the satisfaction of all of the conditions precedent set forth
below (the “Closing Date”), the Company shall sell, and the Investor shall purchase, a Note in the principal
amount of $500,000 on the terms and conditions and in reliance on the Company’s representations and warranties, all as set
forth herein. The Note shall be in the form attached hereto as Exhibit A.

(b)              
Form of Payment. Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Date,
(i) the Investor shall deliver to the Company the principal amount of the Note to be issued and sold to the Investor; provided,
however, that the Investor shall deduct a commitment fee in the amount of $50,000.00 from the proceeds of the Note (to be payable
to YA Global II SPV LLC as designee of the Investor) and any other deductions of payments to be made on behalf of the Company as
agreed upon between the parties and set out on a signed closing statement (the “Closing Statement”), and (ii)
the Company shall deliver to the Investor, the Note duly executed on behalf of the Company.

(c)               
Conditions Precedent. The obligation of the Investor hereunder to purchase the Note pursuant hereto is subject to
the satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions are for the
Investor’s sole benefit and may be waived by the Investor at any time in its sole discretion:

(i)                
There shall not have been any condition, circumstance, or situation that has resulted in or would reasonably be expected
to result in a “Material Adverse Effect,” where “Material Adverse Effect” shall mean any condition, circumstance,
or situation that may result in, or reasonably be expected to result in (1) a material adverse effect on the legality, validity
or enforceability of this Agreement or the transactions contemplated herein, (2) a material adverse effect on the results of operations,
assets, business or condition (financial or otherwise) of the Company, taken as a whole, or (3) a material adverse effect on the
Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement

(ii)              
The Company’s common stock (“Common Stock”) shall be authorized for quotation or trading on the NASDAQ
Stock Market, the NYSE Euronext, the New York Stock Exchange, or the OTCQX, OTCQB, or OTC Pink marketplaces of the OTC Markets
Group, whichever is at the time the principal trading exchange or market for the Common Stock (the “Principal Market”)
and trading in the Common Stock shall not have been suspended for any reason;

 

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(iii)            
The Company is not in material default nor aware of any potential material default with any of its lenders, except as has
been disclosed in the Company’s filings with the United States Securities and Exchange Commission (the “SEC”);

(iv)            
The Company has received all necessary authorizations to sell the Note to the Investor; and

(v)              
The parties have signed a Closing Statement in an agreed upon form.

(d)              
In the event that the Closing Date has not occurred by June 15, 2015, the Investor may terminate this Agreement.

2.     
INVESTOR’S REPRESENTATIONS AND WARRANTIES.

Investor hereby represents
and warrants to the Company that the following are true and correct as of the date hereof, and as of the Closing Date:

(a)               
Organization and Authorization. The Investor is duly organized, validly existing and in good standing under the laws
of the Cayman Islands and has all requisite power and authority to purchase and hold the Note. The decision to invest and the execution
and delivery of this Agreement by such Investor, the performance by such Investor of its obligations hereunder and the consummation
by such Investor of the transactions contemplated hereby have been duly authorized and requires no other proceedings on the part
of the Investor. The undersigned has the right, power and authority to execute and deliver this Agreement and all other instruments
on behalf of the Investor. This Agreement has been duly executed and delivered by the Investor and, assuming the execution and
delivery hereof and acceptance thereof by the Company, will constitute the legal, valid and binding obligations of the Investor,
enforceable against the Investor in accordance with its terms.

(b)              
Evaluation of Risks. The Investor has such knowledge and experience in financial, tax and business matters as to
be capable of evaluating the merits and risks of, and bearing the economic risks entailed by, an investment in the Company and
of protecting its interests in connection with this transaction. It recognizes that its investment in the Company involves a high
degree of risk.

(c)               
Investment Purpose. The Note is purchased by the Investor for its own account, and for investment purposes. The Investor
agrees not to assign or in any way transfer the Investor’s rights to the Note or any interest therein and acknowledges that
the Company will not recognize any purported assignment or transfer of the Note except in accordance with applicable Federal and
state securities laws. No other person has or will have a direct or indirect beneficial interest in the Note. The Investor agrees
not to sell, hypothecate or otherwise transfer the Note unless the Note is registered under Federal and applicable state securities
laws or unless, in the opinion of counsel satisfactory to the Company, an exemption from such laws is available.

(d)              
Accredited Investor. The Investor is an “Accredited Investor” as that term is defined in Rule
501(a)(3) of Regulation D of the Securities Act of 1933 (the “Securities Act”).

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(e)               
Information. The Investor and its advisors (and its counsel), if any, have been furnished with all materials relating
to the business, finances and operations of the Company and information it deemed material to making an informed investment decision.
The Investor and its advisors, if any, have been afforded the opportunity to ask questions of the Company and its management. Neither
such inquiries nor any other due diligence investigations conducted by such Investor or its advisors, if any, or its representatives
shall modify, amend or affect the Investor’s right to rely on the Company’s representations and warranties contained
in this Agreement. The Investor understands that its investment involves a high degree of risk. The Investor has sought such accounting,
legal and tax advice, as it has considered necessary to make an informed investment decision with respect to this transaction.

(f)               
No General Solicitation. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or sale of the Note offered hereby.

(g)              
Not an Affiliate. The Investor is not an officer, director or a person that directly, or indirectly through one or
more intermediaries, controls or is controlled by, or is under common control with the Company or any “Affiliate”
of the Company (as that term is defined in Rule 405 of the Securities Act).

3.     
COMPANY’S REPRESENTATIONS AND WARRANTIES. Except as stated below or in the SEC Documents, the Company hereby
represents and warrants to, the Investor that the following are true and correct as of the date hereof, and as of the Closing Date:

(a)               
Organization and Qualification. The Company is duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has all requisite corporate power to own its properties and to carry on its business as now being
conducted. Each of the Company and its subsidiaries is duly qualified as a foreign corporation to do business and is in good standing
in every jurisdiction in which the nature of the business conducted by it makes such qualification necessary, except to the extent
that the failure to be so qualified or be in good standing would not have a Material Adverse Effect on the Company and its subsidiaries
taken as a whole. The Company has furnished or made available to the Investor true and correct copies of the Company’s Re-Stated
Certificate of Incorporation as in effect on the date hereof (the “Certificate of Incorporation”), and the Company’s
By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all securities convertible into or
exercisable for Common Stock and the material rights of the holders thereof in respect thereto.

(b)              
Authorization, Enforcement, Compliance with Other Instruments. (i) The Company has the requisite corporate power
and authority to enter into and perform this Agreement and any related agreements, in accordance with the terms hereof and thereof,
(ii) the execution and delivery of this Agreement and any related agreements by the Company and the consummation by it of the transactions
contemplated hereby and thereby, have been duly authorized by the Company’s Board of Directors and no further consent or
authorization is required by the Company, its Board of Directors or its stockholders, (iii) this Agreement, the Note (when
issued) and any related agreements have been duly executed and delivered by the Company, (iv) this Agreement, the Note (when issued),
and any related agreements, constitute the valid and binding obligations of the Company enforceable against the Company in accordance
with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies.

    	3

    	 

    

 

(c)               
No Conflict. The execution, delivery and performance of this Agreement by the Company and the consummation by the
Company of the transactions contemplated hereby will not (i) result in a violation of the Certificate of Incorporation, any certificate
of designations of any outstanding series of preferred stock of the Company or By-laws or (ii) conflict with or constitute a default
(or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries
is a party, or result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations and the rules and regulations of the Principal Market on which the Common Stock is quoted) applicable to the
Company or any of its subsidiaries or by which any material property or asset of the Company or any of its subsidiaries is bound
or affected and which would cause a Material Adverse Effect. Except as disclosed in the SEC Documents, neither the Company nor
its subsidiaries is in violation of any term of or in default under its Articles of Incorporation or By-laws or their organizational
charter or by-laws, respectively, or any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment,
decree or order or any statute, rule or regulation applicable to the Company or its subsidiaries. The business of the Company and
its subsidiaries is not being conducted in violation of any material law, ordinance, regulation of any governmental entity. Except
as specifically contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws,
the Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court
or governmental agency in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement
in accordance with the terms hereof or thereof except as such consent, authorization or order has been obtained prior to the date
hereof. The Company and its subsidiaries are unaware of any fact or circumstance which might give rise to any of the foregoing.

(d)              
SEC Documents; Financial Statements. The Common Stock is registered pursuant to Section 12(g) of the Securities Exchange
Act of 1934 (the “Exchange Act”) and the Company has filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC under the Exchange Act for the two years preceding the date hereof (or such shorter period
as the Company was required by law or regulation to file such material) (all of the foregoing filed within the two years preceding
the date hereof as amended after the date hereof and all exhibits included therein and financial statements and schedules thereto
and documents incorporated by reference therein, being hereinafter referred to as the “SEC Documents”) on a
timely basis or has received a valid extension of such time of filing and has filed any such SEC Document prior to the expiration
of any such extension. The Company has delivered to the Investor or its representatives, or made available through the SEC’s
website at http://www.sec.gov, true and complete copies of the SEC Documents. As of their respective dates, the SEC Documents complied
in all material respects with the requirements of the Exchange Act and the rules and regulations of the SEC promulgated thereunder
applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. As of their respective dates,
the financial statements of the Company included in the SEC Documents complied as to form in all material respects with applicable
accounting requirements and the published rules and regulations of the SEC with respect thereto. Such financial statements have
been prepared in accordance with generally accepted accounting principles, consistently applied, during the periods involved (except
(i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim statements,
to the extent they may exclude footnotes or may be condensed or summary statements) and fairly present in all material respects
the financial position of the Company as of the dates thereof and the results of its operations and cash flows for the periods
then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). No other information provided
by or on behalf of the Company to the Investor which is not included in the SEC Documents contains any untrue statement of a material
fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstance under
which they are or were made, not misleading.

    	4

    	 

    

 

(e)               
No Default. Except as disclosed in the SEC Documents, the Company is not in default in the performance or observance
of any material obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust or other material
instrument or agreement to which it is a party or by which it or its property is bound and neither the execution, nor the delivery
by the Company, nor the performance by the Company of its obligations under this Agreement or any of the exhibits or attachments
hereto will conflict with or result in the breach or violation of any of the terms or provisions of, or constitute a default or
result in the creation or imposition of any lien or charge on any assets or properties of the Company under its Certificate of
Incorporation, By-Laws, any material indenture, mortgage, deed of trust or other material agreement applicable to the Company or
instrument to which the Company is a party or by which it is bound, or any statute, or any decree, judgment, order, rule or regulation
of any court or governmental agency or body having jurisdiction over the Company or its properties, in each case which default,
lien or charge is likely to cause a Material Adverse Effect.

(f)               
Internal Accounting Controls. The Company and each of its subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or
specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with generally accepted accounting principles and to maintain asset accountability, (iii) access to assets is permitted only in
accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

(g)              
Absence of Litigation. Except as set forth in the SEC Documents, there is no action, suit, proceeding, inquiry or
investigation before or by any court, public board, government agency, self-regulatory organization or body pending against or
affecting the Company, the Common Stock or any of the Company’s subsidiaries, wherein an unfavorable decision, ruling or
finding would have a Material Adverse Effect.

(h)              
Subsidiaries. Except as disclosed in the SEC Documents, the Company does not presently own or control, directly or
indirectly, any interest in any other corporation, partnership, association or other business entity.

(i)                
Tax Status. Except as disclosed in the SEC Documents, the Company and each of its subsidiaries has made or filed
all federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject
and (unless and only to the extent that the Company and each of its subsidiaries has set aside on its books provisions reasonably
adequate for the payment of all unpaid and unreported taxes) has paid all taxes and other governmental assessments and charges
that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested
in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to
be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

(j)                
Certain Transactions. Except as set forth in the SEC Documents none of the officers, directors, or employees of the
Company is presently a party to any transaction with the Company (other than for services as employees, officers and directors),
including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental
of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or,
to the knowledge of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such
employee has a substantial interest or is an officer, director, trustee or partner.

    	5

    	 

    

 

4.     
INDEMNIFICATION. The parties agree that Article V of the SEDA shall apply to this Agreement.

5.     
GOVERNING LAW. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New
York without regard to the principles of conflict of laws. Each of the parties consents to the jurisdiction of the state courts
of the State of New York and the U.S. District Court for the District of New York sitting in Manhattan, for the adjudication
of any civil action asserted pursuant to this paragraph.

6.     
NOTICES. Any notices, consents, waivers or other communications required or permitted to be given under the
terms hereof must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon
receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on
file by the sending party); or (iii) one (1) Business Day after deposit with a nationally recognized overnight delivery service,
in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall
be:

	If to the Company, to:	Omagine, Inc.
	 	Empire State Building
	 	
        350 Fifth Avenue, Suite 4815-17

        New York, New York 10118

	 	Attention:  Chief Executive Officer
	 	Telephone:  (212) 563-4141
	 	Facsimile:   (212) 563-3355
	 	 
	With a copy to: 	Sichenzia Ross Friedman Ference LLP
	 	61 Broadway
	 	New York, New York 10006
	 	Attention:  Michael Ference
	 	Telephone: (212) 930-9700
	 	Facsimile:  (212) 930-9725

 

	If to the Holder:	YA Global Master SPV, Ltd.
	 	1012 Springfield Avenue
	 	Mountainside, NJ  07092
	 	Attention:Mark Angelo
	 	Telephone:(201) 985-8300
	 	 
	With a copy to:	David Gonzalez, Esq. 
	 	1012 Springfield Avenue
	 	Mountainside, NJ  07092
	 	Telephone:(201) 985-8300
	 	Email:  dgonzalez@yorkvilleadvisors.com
	 	 

or at such other address and/or
facsimile number and/or to the attention of such other person as the recipient party has specified by written notice given to each
other party three Business Days prior to the effectiveness of such change. Written confirmation of receipt (i) given by the recipient
of such notice, consent, waiver or other communication, (ii) mechanically or electronically generated by the sender’s facsimile
machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (iii) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or
receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

    	6

    	 

    

 

7.     
MISCELLANEOUS.

(a)               
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party.

(b)              
Entire Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Investor
and the Company with respect to the matters discussed herein, and this Agreement, and the instruments referenced herein, contain
the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically set
forth herein or therein, neither the Company nor the Investor makes any representation, warranty, covenant or undertaking with
respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument in writing signed
by the party to be charged with enforcement.

 

[signature page
follows]

    	7

    	 

    

 

 

IN WITNESS WHEREOF,
each of the Investor and the Company have caused their respective signature page to this Note Purchase Agreement to be duly executed
as of the date first written above.

	 	COMPANY:	 
	 	 	 
	 	OMAGINE, INC.	 
	 	 	 
	 	By: /s/ Charles
        P. Kuczynski	 
	 	Charles
        P. Kuczynski	 
	 	Vice-President & Secretary	 
	 	 	 
	 	INVESTOR:	 
	 	 	 
	 	YA GLOBAL MASTER SPV LTD.	 
	 	 	 
	 	 	 
	 	By:Yorkville Advisors Global LP	 
	 	Its:Investment Manager	 
	 	 	 
	 	By:Yorkville Advisors Global LLC	 
	 	Its:General Partner	 
	 	 	 
	 	By: /s/ Gerald Eicke	 
	 	Name: Gerald Eicke	 
	 	Title: Managing Member	 
	 	 	 

 

 

    	8

    	 

    

Exhibit A

Form of Note

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}]]