Document:

BYLAWS

OF

LAZEX
INC.

(a
Nevada corporation)

 

ARTICLE
I

 

Meetings
of Stockholders and Other Stockholder Matters

 

SECTION
1. Annual Meeting. An annual meeting of the stockholders of Lazex Inc., a Nevada corporation (hereinafter, the “Corporation”)
shall be held for the election of directors and for the transaction of such other proper business at such time, date and place,
either within or without the State of Nevada, as shall be designated by resolution of the Board of Directors from time to time.

 

SECTION
2. Special Meetings. Special meetings of stockholders for any purpose or purposes may be called by the Board of Directors,
or by a committee of the Board of Directors that has been designated by the Board of Directors and whose powers and authority,
as expressly provided in a resolution of the Board of Directors, include the power to call such meetings, and shall be held at
such time, date and place, either within or without the State of Nevada, as shall be designated by resolution of the Board of
Directors or such committee. Special meetings of stockholders may not be called by any other person or persons.

 

SECTION
3. Notice of Meetings. Written notice of each meeting of the stockholders, which shall state the time, date and place of
the meeting and in the case of a special meeting, the purpose or purposes for which it is called, shall, unless otherwise provided
by applicable law, the Articles of Incorporation or these bylaws, be given not less than ten (10) nor more than sixty (60) days
before the date of such meeting to each stockholder entitled to vote at such meeting, and, if mailed, it shall be deposited in
the United States mail, postage prepaid, directed to the stockholder at such stockholder’s address as it appears on the
records of the Corporation. Whenever notice is required to be given, a written waiver thereof signed by the person entitled thereto,
whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting shall
constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting,
at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened.

 

SECTION
4. Adjournments. Any meeting of the stockholders may adjourn from time to time to reconvene at the same or some other place,
and notice need not be given of any such adjourned meeting if the time and place thereof are announced at the meeting at which
the adjournment is taken. At any such adjourned meeting at which a quorum may be present, the Corporation may transact any business
which might have been transacted at the original meeting. If the adjournment is for more than thirty days, or if after the adjournment
a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of
record entitled to vote at the meeting.

 

SECTION
5. Quorum. Except as otherwise provided by Nevada law, the Articles of Incorporation or these bylaws, at any meeting of
the stockholders the holders of a majority of the shares of stock, issued and outstanding and entitled to vote, shall be present
in person or represented by proxy in order to constitute a quorum for the transaction of any business. In the absence of a quorum,
the holders of a majority of the shares present in person or represented by proxy and entitled to vote may adjourn the meeting
from time to time in the manner described in Section 4 of this Article I.

 

SECTION
6. Organization. At each meeting of the stockholders, the Chairman of the Board, or in his absence or inability to act,
the President or, in his absence or inability to act, a Vice President or, in the absence or inability to act of such persons,
any person designated by the Board of Directors, or in the absence of such designation, any person chosen by a majority of those
stockholders present in person or represented by proxy, shall act as chairman of the meeting. The Secretary or, in his absence
or inability to act, any person appointed by the chairman of the meeting shall act as secretary of the meeting and keep the minutes
thereof.

 

    	 

    	 

    

 

SECTION
7. Notice of Business. At any annual meeting of the stockholders of the Corporation, only such business shall
be conducted as shall have been brought before the meeting. To be properly brought before an annual meeting, such business
must be (i) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of
Directors; (ii) otherwise properly brought before the meeting by or at the direction of the Board of Directors; or (iii)
otherwise properly brought before the meeting by any stockholder of the Corporation who is a stockholder of record at the
time of giving of the notice provided for in this Section 7, who shall be entitled to vote at such meeting and who complies
with the notice procedures set forth in this Section 7. For business to be properly brought before an annual meeting of
the stockholders by a stockholder, the stockholder shall have given timely notice thereof in writing to the Secretary of
the Corporation. To be timely, a stockholder’s notice shall be delivered to or mailed and received by the Secretary at
the principal executive office of the Corporation not less than 60 days nor more than 90 days prior to the annual meeting; provided, however,
that in the event that less than 70 days’ notice or prior public disclosure of the date of the annual meeting is
given or made to stockholders, notice by the stockholder to be timely must be so received not later than the close of
business on the tenth day following the day on which such notice of the date of the meeting was mailed or such public
disclosure was made, whichever first occurs. Such stockholder’s notice to the Secretary of the Corporation shall set
forth as to each matter the stockholder proposes to bring before the annual meeting (a) a brief description of the business
desired to be brought before the annual meeting, the reasons for conducting such business at the annual meeting and, in the
event that such business includes a proposal to amend any document, including these bylaws, the language of the proposed
amendment, (b) the name and address, as they appear on the Corporation’s books, of the stockholder proposing such
business, (c) the class and number of shares of capital stock of the Corporation which are beneficially owned by such
stockholder and (d) any material interest of such stockholder in such business. Notwithstanding anything in these bylaws to
the contrary, no business shall be conducted at any annual meeting of the stockholders except in accordance with the
procedures set forth in this Section 7. The chairman of the annual meeting of the stockholders shall, if the facts warrant,
determine and declare to the meeting that business was not properly brought before the meeting in accordance with the
provisions of this Section 7, and if he should so determine, he shall so declare to the meeting and any such business not
properly brought before the meeting shall not be transacted. Notwithstanding the foregoing provisions of this Section 7, a
stockholder shall also comply with all applicable requirements of the Securities and Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder with respect to matters set forth in this Section 7.

 

SECTION
8. Order of Business; Conduct of Meetings. The order of business at all meetings of the stockholders shall be as determined
by the chairman of the meeting.

 

SECTION
9. Voting; Proxies. Unless otherwise provided by Nevada law or in the Articles of Incorporation, each stockholder entitled
to vote at any meeting of stockholders shall be entitled to one vote for each share of capital stock which has voting power upon
the matter in question held by such stockholder either (i) on the date fixed pursuant to the provisions of Section 10 of Article
I of these bylaws as the record date for the determination of the stockholders to be entitled to notice of or to vote at such
meeting; or (ii) if no record date is fixed, then at the close of business on the day next preceding the day on which notice is
given. Each stockholder entitled to vote at any meeting of the stockholders may authorize another person or persons to act for
him by proxy. Any such proxy shall be delivered to the secretary of such meeting at or prior to the time designated in the order
of business for so delivering such proxies. At all meetings of the stockholders for the election of directors, a plurality of
the votes cast shall be sufficient to elect. On all other matters, except as otherwise required by Nevada law or the Articles
of Incorporation, a majority of the votes cast at a meeting of the stockholders shall be necessary to authorize any corporate
action to be taken by vote of the stockholders. Unless required by Nevada law, or determined by the chairman of the meeting to
be advisable, the vote on any question other than the election of directors need not be by written ballot. On a vote by written
ballot, each written ballot shall be signed by the stockholder voting, or by his proxy if there be such proxy, and shall state
the number of shares voted.

 

    	 

    	 

    

 

SECTION
10. Fixing of Record Date for Stockholder Meetings. In order that the Corporation may determine the stockholders entitled
to notice of or to vote at any meeting of stockholders or any adjournment thereof, the Board of Directors may fix a record date,
which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors,
and which record date shall not be more than 60 nor less than 10 days before the date of such meeting. If no record date is fixed
by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders
shall be the close of business on the day next preceding the day on which notice is given, or if notice is waived, at the close
of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled
to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

 

SECTION
11. Fixing a Record Date for Other Purposes. In order that the Corporation may determine the stockholders entitled to receive
payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in
respect of any change, conversion or exchange of stock, or for the purposes of any other lawful action, the Board of Directors
may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted,
and which record date shall not be more than 60 days prior to such action. If no record date is fixed, the record date for determining
stockholders for any such purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution
relating thereto.

 

SECTION
12. List of Stockholders Entitled to Vote. The officer of the Corporation who has charge of the stock ledger of the Corporation
shall prepare and make, at least 10 days before every meeting of the stockholders, a complete list of the stockholders entitled
to vote at the meeting, arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered
in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the
meeting, during ordinary business hours, for a period of at least ten days prior to the meeting, either at a place within the
city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at
the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during
the whole time thereof and may be inspected by any stockholder of the Corporation who is present.

 

SECTION
13. Inspectors. The Board of Directors may, in advance of any meeting of stockholders, appoint one or more inspectors to
act at such meeting or any adjournment thereof. If the inspectors shall not be so appointed or if any of them shall fail to appear
or act, the chairman of the meeting shall appoint inspectors. Each inspector, before entering upon the discharge of his or her
duties, shall take and sign an oath faithfully to execute the duties of inspector at such meeting with strict impartiality and
according to the best of his or her ability. The inspectors shall determine the number of shares outstanding and the voting power
of each, the number of shares represented at the meeting, the existence of a quorum, the validity and effect of proxies, and shall
receive votes, ballots or consents, hear and determine all challenges and questions arising in connection with the right to vote,
count and tabulate all votes, ballots or consents, determine the result, and do such acts as are proper to conduct the election
or vote with fairness to all stockholders. On request of the chairman of the meeting or any stockholder entitled to vote thereat,
the inspectors shall make a report in writing of any challenge, question or matter determined by them and shall execute a certificate
of any fact found by them. No director or candidate for the office of director shall act as an inspector of an election of directors.
Inspectors need not be stockholders.

 

SECTION
14. Stock Ledger. The stock ledger of the Corporation shall be the only evidence as to who are the stockholders entitled
to examine the stock ledger, the list required by Section 12 of this Article I, the books of the Corporation, or to vote in person
or by proxy at any meeting of the stockholders.

 

SECTION
15.Action of the Shareholders without a Meeting. Unless otherwise provided by law, any action required to be taken
at a meeting of the shareholders, or any other action which may be taken at a meeting of the shareholders, may be taken without
a meeting or notice thereof if a consent in writing, setting forth the action so taken, shall be signed by a majority of the shareholders
entitled to vote with respect to the subject matter thereof.

 

    	 

    	 

    

 

ARTICLE
II

 

Board
of Directors

 

SECTION
1. General Powers. The business and affairs of the Corporation shall be managed by or under the direction of a Board of
Directors. The Board of Directors may exercise all such authority and powers of the Corporation and do all such lawful acts and
things as are not, by Nevada law or the Articles of Incorporation, directed or required to be exercised or done by the stockholders.

 

SECTION
2. Number, Qualification. Except as otherwise fixed by or pursuant to provisions of the Articles of Incorporation relating
to the rights of the holders of any class or series of stock having a preference over common stock as to dividends or upon liquidation
to elect additional directors under specified circumstances, the number of directors of the Corporation shall be fixed from time
to time by affirmative vote of a majority of the directors then in office.

 

SECTION
3. Elections and Terms. The Board of Directors, other than those who may be elected by the holders of any classes or series
of stock having a preference over the common stock as to dividends or upon liquidation, shall be elected for a term ending at
the next following Annual Meeting of Stockholders and until their successors have been duly elected and qualified.

 

SECTION
4. Newly Created Directorships and Vacancies. Except as otherwise fixed by or pursuant to provisions of the Articles of
Incorporation relating to the rights of the holders of any class or series of stock having a preference over common stock as to
dividends or upon liquidation to elect additional directors under specified circumstances, newly created directorships resulting
from any increase in the number of directors and any vacancies on the Board of Directors resulting from death, resignation, disqualification,
removal or other cause shall be filled by the affirmative vote of a majority of the remaining directors then in office, even though
less than a quorum of the Board of Directors. Except as otherwise provided under Nevada law, newly created directorships and vacancies
resulting from any cause may not be filled by any other person or persons. Any director elected in accordance with the preceding
sentence shall hold office for the remainder of the full term and until such director’s successor shall have been duly elected
and qualified. No decrease in the number of directors constituting the Board of Directors shall shorten the term of any director
then in office.

 

SECTION
5. Removal and Resignation. Except as otherwise fixed by or pursuant to provisions of the Articles of Incorporation relating
to the rights of the holders of any class or series of stock having a preference over common stock as to dividends or upon liquidation
to elect additional directors under specified circumstances, any director may be removed from office only for cause and only by
the affirmative vote of the holders of two-thirds of the outstanding shares of stock entitled to vote generally in the election
of directors. Any director may resign at any time upon written notice to the Corporation. Any such resignation shall take effect
at the time specified therein or, if the time when it shall become effective shall not be specified therein, immediately upon
its receipt; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

 

SECTION
6. Nomination of Directors. Only persons who are nominated in accordance with the following procedures shall be eligible
for election by the stockholders as directors of the Corporation. Nominations of persons for election as directors of the Corporation
may be made at an annual meeting of stockholders (i) by or at the direction of the Board of Directors; (ii) by any nominating
committee or persons appointed by the Board of Directors; or (iii) by any stockholder of the Corporation entitled to vote for
the election of directors at the meeting who complies with the notice procedures set forth in this Section 6. Such nominations,
other than those made by or at the direction of the Board of Directors, shall be made pursuant to timely notice in writing to
the Secretary of the Corporation. To be timely, a stockholder’s notice shall be delivered to or mailed and received at the
principal executive office of the Corporation not less than 60 days nor more than 90 days prior to the annual meeting; provided
, however , that in the event that less than 70 days’ notice or prior public disclosure of the date of the annual
meeting is given or made to stockholders, notice by the stockholder to be timely must be so received not later than the close
of business on the tenth day following the day on which such notice of the date of the meeting was mailed or such public disclosure
was made, whichever first occurs. Such stockholder’s notice to the Secretary of the Corporation shall set forth (a) as to
each person whom the stockholder proposes to nominate for election or reelection as a director, (i) the name, age, business address
and residence address of the person, (ii) the principal occupation or employment of the person, (iii) the class and number of
shares of capital stock of the Corporation which are beneficially owned by the person and (iv) any other information relating
to the person that is required to be disclosed in solicitations for proxies for election of directors pursuant to Regulation 14A
under the Securities Exchange Act of 1934, as now or hereafter amended; and (b) as to the stockholder giving the notice, (i) the
name and record address of such stockholder and (ii) the class and number of shares of capital stock of the Corporation which
are beneficially owned by such stockholder. The Corporation may require any proposed nominee to furnish such other information
as may reasonably be required by the Corporation to determine the eligibility of such proposed nominee to serve as a director
of the Corporation. No person shall be eligible for election by the stockholders as a director of the Corporation unless nominated
in accordance with the procedures set forth herein. The chairman of the annual meeting of the stockholders shall, if the facts
warrant, determine and declare to the meeting that nomination was not made in accordance with the foregoing procedure, and if
he should so determine, he shall so declare to the meeting and the defective nomination shall be disregarded.

 

    	 

    	 

    

 

SECTION
7. Regular Meetings. Regular meetings of the Board of Directors may be held at such places within or without the State
of Nevada and at such times as the Board of Directors may from time to time determine. Notice of regular meetings of the Board
of Directors need not be given except as otherwise required by Nevada law or these bylaws.

 

SECTION
8. Special Meetings. Special meetings of the Board of Directors may be held at any time or place within or without the
State of Nevada whenever called by the Chairman of the Board of Directors, the President or by a majority of the entire Board
of Directors.

 

SECTION
9. Notice of Meetings. Notice of each special meeting of the Board of Directors (and of each regular meeting for which
notice shall be required) shall be given by the Secretary as hereinafter provided in this Section 9, in which notice shall be
stated the time and place of the meeting. Except as otherwise required by Nevada law or these bylaws, such notice need not state
the purpose(s) of such meeting. Notice of each such meeting shall be mailed, postage prepaid, to each director, addressed to such
director at such director’s residence or usual place of business, by registered mail, return receipt requested delivered
at least two (2) days before the day on which such meeting is to be held, or shall be sent addressed to such director at such
place by electronic mail, telegraph, telex, cable or wireless, or be delivered to such director personally, by facsimile or by
telephone, at least 24 hours before the time at which such meeting is to be held. A written waiver of notice, signed by the director
entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Notice of any such
meeting need not be given to any director who shall, either before or after the meeting, submit a signed waiver of notice or who
shall attend such meeting without protesting, prior to or at its commencement, the lack of notice to him.

 

SECTION
10. Quorum and Manner of Acting. Except as hereinafter provided, a majority of the whole Board of Directors shall be present
in person or by means of a conference telephone or similar communications equipment which allows all persons participating in
the meeting to hear each other at the same time at any meeting of the Board of Directors in order to constitute a quorum for the
transaction of business at such meeting; and, except as otherwise required by Nevada law, the Articles of Incorporation or these
bylaws, the act of a majority of the directors present at any meeting at which a quorum is present shall be the act of the Board
of Directors. In the absence of a quorum at any meeting of the Board of Directors, a majority of the directors present thereat
may adjourn such meeting to another time and place. Notice of the time and place of any such adjourned meeting shall be given
to the directors who were not present at the time of the adjournment and, unless such time and place were announced at the meeting
at which the adjournment was taken, to the other directors. At any adjourned meeting at which a quorum is present, any business
may be transacted which might have been transacted at the meeting as originally called. The directors shall act only as a Board
and the individual directors shall have no power as such.

 

SECTION
11. Action Without a Meeting. Any action required or permitted to be taken at any meeting of the Board of Directors may
be taken without a meeting if all members of the Board consent thereto in writing, and the writing or writings are filed with
the minutes of the proceedings of the Board of Directors.

 

    	 

    	 

    

 

SECTION
12. Telephonic Participation. Members of the Board of Directors may participate in a meeting of the Board by means of a
conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other
at the same time. Participation in such a meeting shall constitute presence in person at such meeting.

 

SECTION
13. Organization. At each meeting of the Board, the Chairman of the Board or, in his absence or inability to act, the Chief
Executive Officer or, in his absence or inability to act, another director chosen by a majority of the directors present shall
act as chairman of the meeting and preside thereat. The Secretary or, in his absence or inability to act, any person appointed
by the chairman shall act as secretary of the meeting and keep the minutes thereof.

 

SECTION
14. Compensation. The Board of Directors shall have authority to fix the compensation, including fees and reimbursement
of expenses, of directors for services to the Corporation in any capacity.

 

ARTICLE
III

 

Committees

 

SECTION
1. Committees. The Board of Directors may, by resolution passed by a majority of the whole Board of Directors, designate
one or more committees, each committee to consist of two or more of the directors of the Corporation. The Board of Directors may
fill vacancies in, change the membership of, or dissolve any such committee. The Board of Directors may designate one or more
directors as alternate members of any committee who may replace any absent or disqualified member at any meeting of the committee.
In the absence or disqualification of a member of the committee, the member or members thereof present at any meeting and not
disqualified from voting, whether or not he or they constitute a quorum, may unanimously appoint another member of the Board of
Directors to act at the meeting in place of such absent or disqualified member. Any such committee, to the extent provided by
Nevada law and to the extent provided in the resolution of the Board of Directors, shall have and may exercise the powers of the
Board of Directors in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation
to be affixed to all papers which may require it. Each committee shall keep written minutes of its proceedings and shall report
such minutes to the Board of Directors when required. All such proceedings shall be subject to revision or alteration by the Board
of Directors; provided, however, that third parties shall not be prejudiced by such revision or alteration.

 

SECTION
2. Committee Rules. Unless the Board of Directors otherwise provides, each committee designated by the Board of Directors
may make, alter and repeal rules for the conduct of its business. In the absence of such rules, each committee shall conduct its
business in the same manner as the Board of Directors conducts its business pursuant to Article II of these bylaws.

 

SECTION
3. Standing Committees. Notwithstanding anything contained in this Article III to the contrary, the Board of Directors
shall maintain two (2) standing committees consisting of (i) a Corporate Governance Committee; and (2) an Audit Committee. The
Corporate Governance Committee shall consist of at least three (3) members of the Board of Directors who are “non-employee
directors” within the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, and who are
“outside directors” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended. The Corporate
Governance Committee shall have the power and authority to recommend general compensation polices to the full Board of Directors,
oversee the Corporation’s compensation plans, establish the compensation levels for the Corporation’s Chief Executive
Officer and other Executive Officers and advise the full Board of Directors on general compensation policies for the Company’s
Executive Officers. The Audit Committee shall consist of at least three (3) members of the Board of Directors, none of which shall
also serve as an Executive Officer of the Corporation. The Audit Committee shall have the power and authority to review and report
to the full Board of Directors with respect to the selection, retention, termination and terms of engagement of the Corporation’s
independent public accountants and maintain communications among the Board of Directors, the independent public accountants and
the Corporation’s internal accounting staff with respect to accounting and audit procedures. The Audit Committee shall also
have the power and authority to review the Corporation’s processes, internal accounting and control procedures and policies
and related matters with the Corporation’s management.

 

    	 

    	 

    

 

ARTICLE
IV

 

Officers

 

SECTION
1. Number. The officers of the Corporation shall be elected by the Board of Directors and shall consist of a Chairman of
the Board, a Chief Executive Officer, a President, one or more Vice Presidents, a Secretary, a Treasurer, and such other officers
and assistant officers as may be deemed necessary or desirable by the Board of Directors. Any number of offices may be held by
the same person. In its discretion, the Board of Directors may choose not to fill any office for any period that it may deem advisable
unless otherwise required by Nevada law.

 

SECTION
2. Election and Term of Officers. The officers of the Corporation shall be elected annually by the Board of Directors at
its first meeting held after each annual meeting of stockholders or as soon thereafter as conveniently may be. The Chief Executive
Officer shall appoint persons to other officers as he or she deems desirable and such appointments, if any, shall serve at the
pleasure of the Board of Directors. Each officer shall hold office until a successor is duly elected and qualified or until his
or her earlier death, resignation or removal as hereinafter provided.

 

SECTION
3. Resignations. Any officer may resign at any time upon written notice to the Corporation. Any such resignation shall
take effect at the time specified therein or, if the time when it shall become effective shall not be specified therein, immediately
upon its receipt; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it
effective.

 

SECTION
4. Removal. Any officer or agent of the Corporation may be removed, either with or without cause, at any time, by the Board
of Directors at any meeting of the Board of Directors or, except in the case of an officer or agent elected or appointed by the
Board of Directors, by the Chief Executive Officer, but any such removal shall be without prejudice to the contract rights, if
any, of the person so removed.

 

SECTION
5. Vacancies. Any vacancy occurring in any office of the Corporation by death, resignation, removal or otherwise, may be
filled for the unexpired portion of the term of the office which shall be vacant by the Board of Directors at any special or regular
meeting.

 

SECTION
6. Powers and Duties of Executive Officers. The officers of the Corporation shall have such powers and duties in the management
of the Corporation as may be prescribed in a resolution by the Board of Directors and, to the extent not so provided, as generally
pertain to their respective offices, subject to the control of the Board of Directors. The Board of Directors may require any
officer, agent or employee to give security for the faithful performance of his or her duties.

 

SECTION
7. The Chairman of the Board. The Chairman of the Board shall be an officer of the Corporation for the purpose of executing
agreements and other instruments on behalf of the Corporation but shall not be an employee of the Corporation. He shall, if present,
preside at each meeting of the stockholders and of the Board of Directors and shall be an ex-officio member of all committees
of the Board of Directors. Such person shall perform all duties incident to the office of Chairman of the Board and such other
duties as may from time to time be assigned to such person by the Board of Directors.

 

SECTION
8. The Chief Executive Officer. The Chief Executive Officer shall have the general and active supervision and direction
over the business operations and affairs of the Corporation and over the other officers, agents and employees and shall see that
their duties are properly performed. At the request of the Chairman of the Board, or in the case of his absence or inability to
act, the Chief Executive Officer shall perform the duties of the Chairman of the Board and when so acting shall have all the powers
of, and be subject to all the restrictions upon the Chairman of the Board. Such person shall perform all duties incident to the
office of Chief Executive Officer and such other duties as may from time to time be assigned to such person by the Board of Directors.

 

    	 

    	 

    

 

SECTION
9. The President. The President shall be the Chief Operating Officer of the Corporation and shall have general and active
supervision and direction over the business operations and affairs of the Corporation and over its several officers, agents and
employees, subject, however, to the direction of the Chief Executive Officer and the control of the Board of Directors. In general,
the President shall have such other powers and shall perform such other duties as usually pertain to the office of President or
as from time to time may be assigned to him by the Board of Directors or the Chief Executive Officer.

 

SECTION
10. Vice Presidents. Each Vice President shall have such powers and perform such duties as from time to time may be assigned
to him by the Board of Directors or the Chief Executive Officer.

 

SECTION
11. The Treasurer. The Treasurer shall (a) have charge and custody of, and be responsible for, all the funds and securities
of the Corporation; (b) keep full and accurate accounts of receipts and disbursements in books belonging to the Corporation; (c)
cause all monies and other valuables to be deposited to the credit of the Corporation in such depositories as may be designated
by the Board; (d) receive, and give receipts for, monies due and payable to the Corporation from any source whatsoever; (e) disburse
the funds of the Corporation and supervise the investment of its funds as ordered or authorized by the Board, taking proper vouchers
therefor; and (f) in general, have all the powers and perform all the duties incident to the office of Treasurer and such other
duties as from time to time may be assigned to him by the Board of Directors or the Chief Executive Officer.

 

SECTION
12. The Secretary. The Secretary shall (a) record the proceedings of the meetings of the stockholders and directors in
a minute book to be kept for that purpose; (b) see that all notices are duly given in accordance with the provisions of these
bylaws and as required by law; (c) be custodian of the records and the seal of the Corporation and affix and attest the seal to
all stock certificates of the Corporation (unless the seal of the Corporation on such certificates shall be a facsimile, as hereinafter
provided) and affix and attest the seal to all other documents to be executed on behalf of the Corporation under its seal; (d)
see that the books, reports, statements, certificates and other documents and records required by law to be kept and filed are
properly kept and filed; and (e) in general, have all the powers and perform all the duties incident to the office of Secretary
and such other duties as from time to time may be assigned to him by the Board of Directors or the Chief Executive Officer.

 

SECTION
13. Officers’ Bonds or Other Security. The Board of Directors may secure the fidelity of any or all of its officers
or agents by bond or otherwise, in such amount and with such surety or sureties as the Board of Directors may require.

 

SECTION
14. Compensation. The compensation of the officers of the Corporation for their services as such officers shall be fixed
from time to time by the Board of Directors; provided, however, that the Board of Directors may delegate to the
Chief Executive Officer or the President the power to fix the compensation of officers and agents appointed by the Chairman of
the Board or the President, as the case may be. An officer of the Corporation shall not be prevented from receiving compensation
by reason of the fact that such person is also a director of the Corporation.

 

ARTICLE
V

 

Shares
of Stock

 

SECTION
1. Stock Certificates. Every holder of stock in the Corporation shall be entitled to have a certificate signed by or in
the name of the Corporation by the Chairman of the Board or the President or a Vice President, and by the Treasurer or an Assistant
Treasurer, or the Secretary or an Assistant Secretary, certifying the number of shares owned by such holder in the Corporation.
Any of or all the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed
or whose facsimile signature has been placed upon such certificate shall have ceased to be such officer, transfer agent or registrar
before such certificate is issued, it may nevertheless be issued by the Corporation with the same effect as if he were such officer,
transfer agent or registrar at the date of issue.

 

    	 

    	 

    

 

SECTION
2. Books of Account and Record of Stockholders. The books and records of the Corporation may be kept at such places, within
or without the State of Nevada, as the Board of Directors may from time to time determine. The stock record books and the blank
stock certificate books shall be kept by the Secretary or by any other officer or agent designated by the Board of Directors.

 

SECTION
3. Transfer of Shares. Transfers of shares of stock of the Corporation shall be made on the stock records of the Corporation
only upon authorization by the registered holder thereof, or by his attorney hereunto authorized by power of attorney duly executed
and filed with the Secretary or with a transfer agent or transfer clerk, and on surrender of the certificate or certificates for
such shares properly endorsed or accompanied by a duly executed stock transfer power and the payment of all taxes thereon. Except
as otherwise provided by Nevada law, the Corporation shall be entitled to recognize the exclusive right of a person in whose name
any share or shares stand on the record of stockholders as the owner of such share or shares for all purposes, including, without
limitation, the rights to receive dividends or other distributions, and to vote as such owner, and the Corporation may hold any
such stockholder of record liable for calls and assessments and the Corporation shall not be bound to recognize any equitable
or legal claim to or interest in any such share or shares on the part of any other person whether or not it shall have express
or other notice thereof. Whenever any transfers of shares shall be made for collateral security and not absolutely, and both the
transferor and transferee request the Corporation to do so, such fact shall be stated in the entry of the transfer.

 

SECTION
4. Regulations. The Board of Directors may make such additional rules and regulations, not inconsistent with these bylaws,
as it may deem expedient concerning the issue, transfer and registration of certificates for shares of stock of the Corporation.
It may appoint, or authorize any officer or officers to appoint, one or more transfer agents or one or more transfer clerks and
one or more registrars and may require all certificates for shares of stock to bear the signature or signatures of any of them.

 

SECTION
5. Lost, Stolen or Destroyed Stock Certificates. The holder of any certificate representing shares of stock of the Corporation
shall immediately notify the Corporation of any loss, destruction or mutilation of such certificate, and the Corporation may issue
a new certificate of stock in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed,
and the Board of Directors may, in its discretion, require the owner of the lost, stolen or destroyed certificate, or his legal
representative, to give the Corporation a bond sufficient, as the Board in its absolute discretion shall determine, to indemnify
the Corporation against any claim that may be made against it on account of the alleged loss, theft or destruction of any such
certificate or the issuance of such new certificate. Anything herein to the contrary notwithstanding, the Board of Directors,
in its absolute discretion, may refuse to issue any such new certificate, except pursuant to judicial proceedings under the laws
of the State of Nevada.

 

ARTICLE
VI

 

Contracts,
Checks, Drafts, Bank Accounts, Etc.

 

SECTION
1. Execution of Contracts. Except as otherwise required by statute, the Articles of Incorporation or these bylaws, any
contract or other instrument may be executed and delivered in the name and on behalf of the Corporation by such officer or officers
(including any assistant officer) of the Corporation as the Board of Directors may from time to time direct. Such authority may
be general or confined to specific instances as the Board of Directors may determine. Unless authorized by the Board of Directors
or expressly permitted by these bylaws, no officer or agent or employee shall have any power or authority to bind the Corporation
by any contract or engagement or to pledge its credit or to render it pecuniary liable for any purpose or to any amount.

 

    	 

    	 

    

 

SECTION
2. Loans. Unless the Board of Directors shall otherwise determine, the President or any Vice-President may effect loans
and advances at any time for the Corporation from any bank, trust company or other institution, or from any firm, corporation
or individual, and for such loans and advances may make, execute and deliver promissory notes, bonds or other certificates or
evidences of indebtedness of the Corporation, but no officer or officers shall mortgage, pledge, hypothecate or transfer any securities
or other property of the Corporation other than in connection with the purchase of chattels for use in the Corporation’s
operations, except when authorized by the Board of Directors.

 

SECTION
3. Checks, Drafts, Bank Accounts, etc. All checks, drafts, bills of exchange or other orders for the payment of money out
of the funds of the Corporation, and all notes or other evidence of indebtedness of the Corporation, shall be signed in the name
and on behalf of the Corporation by such persons and in such manner as shall from time to time be authorized by the Board of Directors.

 

SECTION
4. Deposits. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit of
the Corporation in such banks, trust companies or other depositaries as the Board of Directors may from time to time designate
or as may be designated by any officer or officers of the Corporation to whom such power of designation may from time to time
be delegated by the Board of Directors. For the purpose of deposit and for the purpose of collection for the account of the Corporation,
checks, drafts and other orders for the payment of money which are payable to the order of the Corporation may be endorsed, assigned
and delivered by any officer or agent of the Corporation.

 

SECTION
5. General and Special Bank Accounts. The Board of Directors may from time to time authorize the opening and keeping of
general and special bank accounts with such banks, trust companies or other depositaries as the Board of Directors may designate
or as may be designated by any officer or officers of the Corporation to whom such power of designation may from time to time
be delegated by the Board of Directors. The Board of Directors may make such special rules and regulations with respect to such
bank accounts, not inconsistent with the provisions of these bylaws, as it may deem expedient.

 

ARTICLE
VII

 

Indemnification

 

SECTION
1. Right To Indemnification. The Corporation shall indemnify and hold harmless to the fullest extent permitted by applicable
law as it presently exists or may hereafter be amended, any person who was or is a party or is threatened to be made a party or
is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, or by or in the right of the Corporation to procure a judgment in its favor (a “Proceeding”), by
reason of the fact that such person is or was a director, officer, employee or agent of the Corporation, or is or was serving
at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture,
trust, enterprise or nonprofit entity, including serving with respect to employee benefit plans, against all liability and loss
suffered and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by such person in connection with such action, suit or proceeding if such person acted in good faith and in a manner
such person reasonably believed to be in or not opposed to the best interests of the Corporation; provided , however
, with respect to a Proceeding involving the right of the Corporation to procure judgment in its favor, such indemnification
shall only cover expenses (including attorney fees) and shall only be made if such person acted in good faith and in a manner
such person reasonably believed to be in the best interests of the Corporation and shall not be made with respect to any Proceeding
as to which such person has been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery
of the State of Nevada or the court in which such Proceeding was brought shall determine upon application that, despite the adjudication
of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for
such expenses which the Court of Chancery of the State of Nevada or such other court shall deem proper. The Corporation shall
be required to indemnify a person in connection with a Proceeding (or part thereof) initiated by such person only if the Proceeding
(or part thereof) was authorized by the Board of Directors of the Corporation.

 

    	 

    	 

    

 

SECTION
2. Prepayment of Expenses. Expenses incurred in defending any Proceeding may be paid by the Corporation in advance of the
final disposition of such action, suit or proceeding as authorized by the Board of Directors in the specific case upon receipt
of an undertaking by or on behalf of the director or officer to repay such amount if it should be ultimately determined that such
person is not entitled to be indemnified by the Corporation as authorized in this Article VII or otherwise.

 

SECTION
3. Claims. If a claim for indemnification or payment of expenses under this Article VII is not paid in full within 60 days
after a written claim therefor has been received by the Corporation, the claimant may file suit to recover the unpaid amount of
such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any
such action the Corporation shall have the burden of proving that the claimant was not entitled to the requested indemnification
or payment of expenses under applicable Nevada law.

 

SECTION
4. Non-Exclusivity of Rights. The indemnification provided by this Article VII shall not be deemed exclusive of any other
rights to which those seeking indemnification may be entitled under these bylaws or any agreement or vote of stockholders or disinterested
directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while
holding such office, and shall continue as to a person who has ceased to be a director, officer, employee or agent and shall inure
to the benefit of the heirs, executors and administrators of such a person.

 

SECTION
5. Other Indemnification. The Corporation’s obligation, if any, to indemnify any person who was or is serving at
its request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, enterprise or
non-profit entity be reduced by any amount such person may collect as indemnification from such other corporation, partnership,
joint venture, trust, enterprise or non-profit enterprise.

 

SECTION
6. Insurance. The Corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against
such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or
not the Corporation would have the power to indemnify such person against such liability under the provisions of Nevada law, the
Articles of Incorporation or of this Article VII.

 

SECTION
7. Amendment or Repeal. Any repeal or modification of the foregoing provisions of this Article VII shall not adversely
affect any right or protection hereunder of any person respect of any act or omission occurring prior to the time of such repeal
or modification.

 

ARTICLE
VIII

 

General
Provisions

 

SECTION
1. Registered Office. The registered office and registered agent of the Corporation will be as specified in the Articles
of Incorporation of the Corporation.

 

SECTION
2. Other Offices. The Corporation may also have such offices, both within or without the State of Nevada, as the Board
of Directors may from time to time determine or the business of the Corporation may require.

 

SECTION
3. Fiscal Year. The fiscal year of the Corporation shall be so determined by the Board of Directors.

 

SECTION
4. Seal. The seal of the Corporation shall be circular in form, shall bear the
name of the Corporation and shall include the words and numbers “Corporate Seal”, “Nevada” and the year
of incorporation.

 

    	 

    	 

    

 

SECTION
5. Voting Securities Owned By Corporation. Voting securities in any other corporation held by the Corporation shall be
voted by the Chief Executive Officer, unless the Board of Directors specifically confers authority to vote with respect thereto,
which authority may be general or confined to specific instances, upon some other person or officer. Any person authorized to
vote securities shall have the power to appoint proxies, with general power of substitution.

 

SECTION
6. Inspection of Books and Records. Any stockholder of record, in person or by attorney or other agent, shall, upon written
demand under oath stating the purpose thereof, have the right during the usual hours for business to inspect for any proper purpose
the Corporation’s stock ledger, a list of its stockholders, and its other books and records, and to make copies or extracts
therefrom. A proper purpose shall mean any purpose reasonably related to such person’s interest as a stockholder. In every
instance where an attorney or other agent shall be the person who seeks the right to inspection, the demand under oath shall be
accompanied by a power of attorney or such other writing which authorizes the attorney or other agent to so act on behalf of the
stockholder. The demand under oath shall be directed to the Corporation at its registered office in the State of Nevada or at
its principal place of business.

 

SECTION
7. Section Headings. Section headings in these bylaws are for convenience of reference only and shall not be given any
substantive effect in limiting or otherwise construing any provision herein.

 

SECTION
8. Inconsistent Provisions. In the event that any provision of these bylaws is or becomes inconsistent with any provision
of the Articles of Incorporation, the general corporation law of the State of Nevada or any other applicable law, the provision
of these bylaws shall not be given any effect to the extent of such inconsistency but shall otherwise be given full force and
effect.

 

ARTICLE
IX

 

Amendments

 

These
bylaws, may be adopted, amended or repealed, and new bylaws made, by the Board of Directors of the Corporation, but the stockholders
of the Corporation may make additional bylaws and may alter and repeal any bylaws, whether adopted by them or otherwise, by affirmative
vote of the holders of two-thirds of the outstanding shares of stock entitled to vote upon the election of directors.

 

I,
the undersigned, being the Director of Lazex Inc., DO HEREBY CERTIFY the foregoing to be the bylaws of the Corporation, as adopted
by consent to action in lieu of a special meeting of the Board of Directors of the Corporation, dated September 12, 2019.

 

	/s/
    Mike Ballardie	 
	Mike
    Ballardie, DirectorExhibit

Exhibit 10.1

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) dated as of September 17, 2019, between KAISER ALUMINUM CORPORATION, a Delaware corporation (the “Company”), and JACK A. HOCKEMA (the “Executive”).
The Company wishes to continue to employ the Executive and extend the term of the prior agreement between the Company and the Executive beyond July 15, 2020, and the Executive wishes to continue his employment with the Company, on the terms and conditions set forth in this Agreement, which constitutes an amendment and restatement of the Amended and Restated Employment Agreement between the Company and the Executive dated as of July 15, 2017.
Accordingly, the Company and the Executive hereby agree as follows:
		
	1.
	Employment; Duties and Acceptance. 

1.1    Employment Duties.  The Company hereby agrees to employ the Executive for the Term (as defined in Section 2.1), to render exclusive and full-time services to the Company, in the capacity of chief executive officer of the Company and to perform such other duties consistent with such position (including service as a director or officer of any affiliate of the Company if elected) as may be assigned by the Board of Directors of the Company (the “Board”); provided, however, that the Executive may serve on the Board of Directors of one other business at any time during the Term, and a second business with the consent of the Board of Directors, which consent shall not be unreasonably withheld or delayed; provided, further, that in each case those businesses may not compete with the Company.  In addition, Executive may participate in civic, charitable and industry organizations to the extent that such participation does not materially interfere with the performance of his duties hereunder.  The Executive’s title shall be Chief Executive Officer, or such other titles of at least equivalent level consistent with the Executive’s duties from time to time as may be assigned to the Executive by the Board, and the Executive shall have all authorities as are customarily and ordinarily exercised by executives in similar positions in similar businesses in the United States.  The Executive shall report solely to the Board.  The Company agrees to use its best efforts to cause the Executive to be elected to the Board and to have the Executive serve as a member of the Board throughout his service during the Term.

1.2    Acceptance.  The Executive hereby accepts such employment and agrees to render the services described above.  During the Term, and consistent with the above, the Executive agrees to serve the Company faithfully and to the best of the Executive’s ability, to devote the Executive’s entire business time, energy and skill to such employment, and to use the Executive’s best efforts, skill and ability to promote the Company’s interests.

1.3    Location.  The duties to be performed by the Executive hereunder shall be performed primarily at the Company’s offices in Foothill Ranch, California or such other location as mutually agreed by the parties, subject to reasonable travel requirements consistent with the nature of the Executive’s duties from time to time on behalf of the Company.  The Executive shall not be required to change his principal residence in the event the Company relocates its offices. 

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	2.
	Term of Employment.

2.1    Term.  The term of the Executive’s employment under this Agreement (the “Term”) shall continue until the earlier of (i) July 15, 2022, and (ii) such earlier date on which the Term is terminated pursuant to Section 4.

		
	3.
	Compensation; Benefits.

3.1    Salary.  As compensation for the services to be rendered pursuant to this Agreement, the Company agrees to pay to the Executive, during the Term, a base salary, payable monthly in arrears, at the current annual rate of $915,000 (as the same may be adjusted as provided herein, the “Base Salary”).  Each year, during the Term, the Company shall, in connection with the Company’s annual review of compensation matters, review the Base Salary and determine if, and by how much, the Base Salary should be increased.  Once the Base Salary has been increased hereunder, it shall not be decreased without the Executive’s consent.  All payments of Base Salary or other compensation hereunder shall be less such deductions or withholdings as are required by applicable law and regulations.

3.2    Bonus.  In addition to the amounts to be paid to the Executive pursuant to Section 3.1, the Executive shall be eligible to receive an annual bonus (an “Annual Bonus”) if the Company achieves 100% of the Company’s target objectives for a fiscal year of the Company during the Term.  Each fiscal year, during the Term, the Company shall, in connection with the Company’s annual review of compensation matters, review the Executive’s target Annual Bonus and determine the Executive’s target Annual Bonus for such fiscal year, which shall be equal to (i) the Executive’s Base Salary as determined in connection with such annual review of compensation matters and (ii) a specified percentage not less than 79%.  The target objectives with respect to an Annual Bonus shall be recommended by the Executive and approved by the Compensation Committee of the Board (the “Compensation Committee”) not later than March 31 of each such fiscal year and shall be set forth in the annual short-term incentive plan in which the Executive participates.  Should the Company achieve results in a fiscal year which are above target objectives for the Company’s performance for such year as set forth in the annual short-term incentive plan in which the Executive participates, the actual Annual Bonus payable to the Executive under such plan shall be increased up to a maximum of 300% of the target Annual Bonus.  A formula will be established in the annual short-term incentive plan in which the Executive participates to provide for recognition of threshold objectives below such target objectives and for pro rata awards between the threshold award opportunity and the maximum Annual Bonus opportunity.  Any Annual Bonus earned under this Section 3.2 (including the paragraph below) shall be payable not later than the 15th day of the third month following the end of the fiscal year to which it relates.

In the event that the Term shall terminate other than on a date which is the last day of a fiscal year of the Company, the Executive’s Annual Bonus shall be determined based on the Company’s actual performance under the Company’s annual short-term incentive plan in which the Executive participates with respect to the fiscal year in which the Term terminates, and prorated for the actual number of days of the Term during the fiscal year in which the Term terminates.  Notwithstanding the foregoing, the Executive shall be entitled to no Annual Bonus in respect of the fiscal year of the Company in which the Term terminates if such termination is pursuant to Section 4.4.

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3.3    [Intentionally Left Blank]

3.4    Incentive Compensation.  Each fiscal year, during the Term, the Executive will be eligible to receive grants of long-term incentive compensation, including, but not limited to equity awards (such as restricted stock, restricted stock units, stock options and performance shares), having a target economic value of not less than 240% of the Base Salary for the fiscal year, on similar terms as grants made to senior executives; provided, however, that (i) 36% of the target value of the long-term incentive grant shall be in the form of time-based restricted stock, restricted stock units or similar awards and 64% of the target value of the long-term incentive grant shall be in the form of performance shares or other performance-based awards, and (ii) in the event of a termination of the Executive’s employment, other than pursuant to Section 4.4, the Executive’s vested interest in each outstanding grant shall be not less favorable than (a) with respect to shares of restricted stock, restricted stock units, performance shares or similar awards granted pursuant to the Company’s long-term incentive compensation program, the terms of grants made to other Tier I participants during the applicable fiscal year in connection with the Company’s long-term incentive compensation program, and (b) with respect to all other grants, had such grant provided for vesting in proportion to the actual number of days of the Executive’s employment during the applicable vesting period over the total number of days in such vesting period.  Each year, during the Term, the Company shall, in connection with the Company’s annual review of compensation matters, review the Executive’s long-term incentive compensation and determine the target economic value of, and grant to the Executive, such long-term incentive compensation.

3.5    Business Expenses.  The Company shall pay or reimburse the Executive for all reasonable expenses actually incurred or paid by the Executive during the Term in the performance of Executive’s services under this Agreement, subject to and in accordance with applicable expense reimbursement and related policies and procedures as in effect from time to time.  The Executive’s right to expense reimbursement shall not be subject to liquidation or exchange for another benefit. 

3.6    Vacation.  During each year of the Term, the Executive shall be entitled to a paid vacation period or periods of four (4) weeks taken in accordance with applicable vacation policy as in effect from time to time.

3.7    Benefits; Perquisites.  During the Term, the Executive shall be entitled to participate in those retirement plans, deferred compensation plans, group insurance, life, medical, dental, disability and other benefit plans of the Company at the same level as those benefits are provided by the Company from time to time to senior executives of the Company generally. Also, during the Term, the Executive shall be entitled to fringe benefits and perquisites at the same level as those benefits are provided by the Company from time to time to senior executives of the Company generally.  However, nothing herein shall require the Company to establish and/or maintain any such plans. 

3

3.8    Legal Expenses.  The Company agrees to pay the legal fees and expenses incurred by the Executive in connection with the negotiation and consummation of this Agreement.

		
	4.
	Termination.

4.1    General.  Following any termination of the Executive’s employment, the Company shall pay or provide to the Executive, or his estate or beneficiary, as the case may be, (i) Base Salary earned through the date of such termination; (ii) except in the case of a termination described in Section 4.4, any earned, but unpaid, annual cash incentive or other incentive awards, including the Executive’s Annual Bonus earned pursuant to Section 3.2; (iii) a payment representing the Executive’s accrued but unpaid vacation; (iv) any vested, but not forfeited benefits on the date of such termination under the Company’s employee benefit plans, as determined in accordance with the terms of such plans but subject to the provisions of Section 3.4; and (v) benefit continuation and conversion rights to which the Executive is entitled under the Company’s employee benefit plans.  The payments described above in Sections 4.1(i) and (iii) will be paid in the 30-day period following the date of the Executive’s termination of employment.

4.2    Death.  If the Executive shall die during the Term, the Term shall immediately terminate and the Executive shall be entitled to no further payments or benefits hereunder, except for those payments and benefits described in Section 4.1.  All outstanding equity grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4), and any vested but unexercised grants shall become exercisable and shall remain so for the period commencing on the date of such termination through the second anniversary of such termination.

4.3    Disability.  If during the Term the Executive shall become physically or mentally disabled (a “Disability”), whether totally or partially, such that the Executive is unable to perform the Executive’s principal services hereunder for (i) a period of not less than ninety (90) consecutive days or (ii) the eligibility waiting period under the Company’s applicable long-term disability plan, whichever period is longer, the Company may at any time after the last day of such period (provided that such disability is continuing), by written notice to the Executive, terminate the Term.  Upon termination under this Section 4.3, the Executive shall be entitled to the payments and benefits described in Section 4.1, as well as any payments to which the Executive may be entitled pursuant to any Company disability insurance plan in which the Executive then participates, and all outstanding equity grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4), and any vested but unexercised grants shall become exercisable and shall remain so for the period commencing on the date of such termination through the second anniversary of such termination.

4.4    For Cause.  If the Company terminates the Executive’s employment for Cause, the Term shall terminate immediately and (i) the Executive shall be entitled to receive no further amounts or benefits hereunder, except those payments and benefits described in Section 4.1 or as required by law, (ii) all unvested equity grants pursuant to Section 3.4 shall be immediately forfeited, and (iii) all vested but unexercised equity grants shall be forfeited on the date which is ninety (90) days following such termination.  For purposes of this Agreement, “Cause” shall mean the Executive (A) being convicted of, or pleading guilty or no contest to, a felony (except for motor vehicle violations), (B) engaging in conduct that constitutes gross misconduct or fraud in connection with the performance of his duties to the Company, or (C) materially breaching this Agreement if the Executive does not cure such breach within thirty (30) days after the Company provides written notice of such breach to the Executive. 

4

4.5    Without Cause; For Good Reason.  If during the Term the Company terminates the Executive’s employment without Cause or if the Executive terminates his employment with Good Reason (and Section 4.6 is not then applicable), the Term shall immediately terminate and the Executive shall be entitled to no further payments or benefits hereunder other than those payments and benefits described in Section 4.1, except: (i) the Company shall make a lump sum payment to the Executive within ten (10 ) business days of such termination in an amount equal to one hundred eighty-eight percent (188%) of the sum of the Executive’s Base Salary plus target Annual Bonus opportunity for the fiscal year in which the Executive’s termination of employment occurs; (ii) continuing receipt of group insurance, life, medical, dental, disability and other similar benefits described in Section 3.7 (to the extent to which such are in place from time to time, but excluding perquisites) during the twenty-four month period commencing on the date of such termination; and (iii) all outstanding equity grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4), and any vested but unexercised grants shall become exercisable and shall remain so for the period commencing on the date of such termination through the second anniversary of such termination. 

For purposes of this Agreement, “Good Reason” shall mean, without the Executive’s consent, the occurrence of any of the following during the Term: (A) any material reduction in the Executive’s Base Salary, target bonus opportunity or benefits pursuant to Section 3 of this Agreement; (B) a material change in the Executive’s position causing it to be of materially less stature or responsibility, or a change in the Executive’s duties, authorities, responsibilities or reporting relationship; (C) the Company materially breaches this Agreement; or (D) the Executive is not nominated for election to the Board, or the Executive is not timely renominated for election to the Board or is involuntarily removed from the Board under circumstances that would not constitute Cause or Disability hereunder; provided, however, that the Executive must provide written notice to the Company of the existence of Good Reason no later than 90 days after its initial existence and the Company shall have a period of 30 days following receipt of such written notice during which it may remedy in all material respects the Good Reason condition identified in such written notice; and provided further that the Executive must terminate employment with the Company no less than two years following the initial existence of the Good Reason condition identified in such written notice.  The Company shall not terminate the Executive’s employment without Cause prior to the date which is thirty (30) days following the date on which the Company provides written notice of such termination to the Executive; provided, however, that the Executive may waive such notice period in writing.  The Executive shall not terminate his employment without Good Reason prior to the date which is thirty (30) days following the date on which the Executive provides written notice of such termination to the Company; provided, however, that the Company may waive such notice period in writing.  
Notwithstanding anything to the contrary in clause (i) immediately above, if the Executive constitutes a “key employee” as defined in Section 416(i) of the Internal Revenue Code and as applied under Section 409A of the Internal Revenue Code (“Section 409A”) at such termination, the payment under clause (i) immediately above shall be paid on the first business day following the sixth month anniversary of the Executive’s termination of employment if necessary to comply with Section 409A and regulations issued thereunder.  In the event coverage for medical benefits (including dental, vision and similar benefits) under clause (ii) extends beyond the period during which the Executive would be entitled to continuation coverage under a group health plan by reason of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), or any successor statute, and would otherwise result in taxable income to the Executive or his dependents, the Executive or his dependents will be required for each month after the maximum period of COBRA coverage to pay the full cost of such coverage. 

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4.6    Change of Control.
4.6.1    In the event of a Change of Control, all outstanding equity grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4).  If during the Term the Company terminates the Executive’s employment without Cause or the Executive terminates his employment with Good Reason, in each case within two (2) years following a Change of Control, the Term shall immediately terminate and the Executive shall be entitled to no further payments or benefits hereunder other than those payments and benefits described in Section 4.1, except: (i) the Company shall make a lump sum payment to the Executive within ten (10) business days of such termination in an amount equal to two hundred eighty-two percent (282%) of the sum of the Executive’s Base Salary plus target Annual Bonus opportunity for the fiscal year in which the Executive’s termination of employment occurs; (ii) continuing receipt of group insurance, life, medical, dental, disability and other similar benefits described in Section 3.7 (to the extent to which such are in place from time to time, but excluding perquisites) during the thirty-six month period commencing on the date of each termination; and (iii) any previously unvested grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4) and all outstanding grants shall remain exercisable for the period commencing on the date of such termination through the earlier the second anniversary of such termination.  Any termination of the Executive's employment contemplated by this Section 4.6.1 that occurs (a) not more than six months prior to a Change of Control and (b) following the commencement of any discussion with a third person that ultimately results in a Change of Control, shall be deemed to be a termination of the Executive's employment following a Change of Control for purposes of this Section 4.6.1, in which case the Company shall, subject to the next following sentence, make the payment due under clause (i) above (less the amount of any lump sum payment previously made to the Executive pursuant to Section 4.5) to the Executive no later than ten (10) business days following such Change of Control.  If the Executive constitutes a “key employee” as defined in Section 416(i) of the Internal Revenue Code and as applied under Section 409A at such termination of employment, the payment due under clause (i) immediately above shall be paid on the first business day following the sixth month anniversary of Executive’s termination of employment if necessary to comply with Section 409A and regulations issued thereunder.  In the event coverage for medical benefits (including dental, vision and similar benefits) under clause (ii) extends beyond the period during which the Executive would be entitled to continuation coverage under a group health plan by reason of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), or any successor statute, and would otherwise result in taxable income to the Executive or his dependents, the Executive or his dependents will be required for each month after the maximum period of COBRA coverage to pay the full cost of such coverage. 

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4.6.2    For purposes of this Agreement, a “Change of Control” shall be deemed to occur upon: (i) the sale, lease, conveyance or other disposition of all or substantially all of the Company’s assets as an entirety or substantially as an entirety to any person, entity or group of persons acting in concert other than in the ordinary course of business; (ii) any transaction or series of related transactions (as a result of a tender offer, merger, consolidation, purchase or otherwise) that results in any Person (as defined in Section 13(h)(8)(E) under the Securities Exchange Act of 1934) becoming the beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of 20% or more of the aggregate voting power of all classes of common equity of the Company, except if such Person is (w) a subsidiary of the Company, (x) an employee benefit plan for employees of the Company or (y) a company formed to hold the Company’s common equity securities and whose shareholders constituted, at the time such company became such holding company, substantially all the shareholders of the Company; or (iii) a change in the composition of the Board over a period of twenty-four (24) consecutive months or less such that a majority of the then current Board members ceases to be comprised of individuals who either (a) have been Board members continuously since the beginning of such period, or (b) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (a) who were still in office at the time such election or nomination was approved by the Board.

4.6.3    Notwithstanding any provision of this Agreement to the contrary, if any amount or benefit to be paid or provided under this Agreement would be an “Excess Parachute Payment” within the meaning of Section 280G of the Code but for the application of this sentence, then the payments and benefits to be paid or provided under this Agreement will be reduced to the minimum extent necessary (but in no event to less than zero) so that no portion of any such payment or benefit, as so reduced, constitutes an Excess Parachute Payment; provided, however, that the foregoing reduction will be made only if and to the extent that such reduction would result in an increase in the aggregate payment and benefits to be provided, determined on an after-tax basis (taking into account the excise tax imposed pursuant to Section 4999 of the Code, any tax imposed by any comparable provision of state law, and any applicable federal, state and local income and employment taxes).  The fact that the Executive’s right to payments or benefits may be reduced by reason of the limitations contained in this Section 4.6.3 will not of itself limit or otherwise affect any other rights of the Executive other than pursuant to this Agreement.  In the event that any payment or benefit intended to be provided under this Agreement or otherwise is required to be reduced pursuant to this Section 4.6.3, the Company will effect such reduction by first reducing the payment described in clause (i) of Section 4.6.1, and then, to the extent necessary, reducing the benefits described in clause (ii) of Section 4.6.1 in the sequence listed in such clause and then, to the extent still necessary, reducing the benefits described in clause (iii) of Section 4.6.1, beginning with the most recently granted awards.

4.6.4    All computations and determinations relevant to Section 4.6.3 shall be made by an independent accounting firm selected and reimbursed by the Company (the “Accounting Firm”), subject to the Executive’s consent (not to be unreasonably withheld), which firm may be the Company’s accountants.  If the Accounting Firm determines that any amounts are Excess Parachute Payments, the Accounting Firm shall provide its determination (the “Determination”), together with detailed supporting calculations both to the Company and the Executive by no later than ten (10) days following its Determination, if applicable, or such earlier time as is requested by the Company or the Executive (if the Executive reasonably believes that any amounts are Excess Parachute Payments).  If the Accounting Firm determines that no amounts are Excess Parachute Payments, it shall furnish the Executive and the Company with a written statement that such Accounting Firm has so concluded that no excise tax is payable (including the reasons therefor) and that the Executive has substantial authority not to report any excise tax on his federal income tax.  The Company and Executive shall furnish to the Accounting Firm such information and documents as the Accounting Firm may reasonably request in order to make a determination hereunder.  The Accounting Firm shall be required to provide its Determination within sixty (60) days after the date of the Executive’s termination, and the Company shall be responsible for any income tax, penalty or interest liability incurred as a result of delay by the Accounting Firm. The Accounting Firm shall make its Determination on the basis of substantial authority and shall provide opinions to that effect to both the Company and the Executive upon the request of either of them.

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4.7    End of Term, Retirement, Resignation and Succession.  

4.7.1    At the end of the Term or upon retirement, resignation or other termination by the Executive of his employment without Good Reason during the Term, the Executive shall be entitled to no further payments or benefits, except for those payments and benefits described in Section 4.1.  All outstanding equity grants shall vest and be payable in the manner provided in the applicable award (subject to the provisions of Section 3.4), and any vested but unexercised grants shall become exercisable and shall remain so for the period commencing on the expiration of the Term and continuing through the second anniversary of the end of the Term.

4.7.2    The Company and the Executive each acknowledges that the Executive has previously reached the age of 65 and is entitled to retire at any time.  Executive’s retirement, resignation or other termination by the Executive of his employment without Good Reason shall be treated as retirement for purposes of this Agreement and all outstanding equity grants.  The Executive shall not retire, resign or otherwise terminate his employment without Good Reason prior to the date which is thirty (30) days following the date on which the Executive provides written notice of such retirement, resignation or other termination of his employment without Good Reason to the Company; provided, however, that the Company may waive such notice period in writing.

4.7.3    Notwithstanding any other provision in this Agreement to the contrary, the Term shall terminate upon the appointment of a successor chief executive officer of the Company pursuant to a succession plan approved by the Board, provided that (i) such appointment occurs after July 15, 2020 and prior to a Change in Control and (ii) immediately following such appointment, (A) the Executive continues to hold the office of Chairman of the Board of the Company or Executive Chairman of the Board and (B) the Executive’s annual compensation for the services rendered to the Company as such is an amount not less than the sum of (x) the amount of the annual retainers and meeting fees paid by the Company to its directors for service on the Board and (y) the amount of the additional annual retainer paid by the Company to its Lead Independent Director for service as such.  For the avoidance of doubt, notwithstanding any other provision in this Agreement to the contrary, none of the consideration or approval by the Board of such succession plan, such appointment of a successor chief executive officer of the Company pursuant to such Board-approved succession plan or any change in the Executive’s compensation, position, title, duties, authorities or responsibilities in connection with such appointment of a successor chief executive officer of the Company shall be a breach of this Agreement or constitute Good Reason for purposes of Section 4.5.

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4.8    No Mitigation.  Upon termination of the Executive’s employment with the Company, the Executive shall be under no obligation to seek other employment or otherwise to mitigate the obligations of the Company under this Agreement.

4.9    Option Exercise.  For the avoidance of doubt, to the extent that any provision of this Agreement provides for the continued exercise of options following the Executive’s termination of employment, such options shall be exercisable for the period provided in the Agreement, but in no event beyond the end of the original term of such options.

4.10    Section 409A. 

4.10.1    To the extent that this Agreement provides for the payment of “deferred compensation” (within the meaning of Section 409A) to the Executive or the Executive’s beneficiaries upon or as a result of the Executive’s termination of employment, the Executive shall be considered to have experienced a termination of employment as of the date that the Executive incurs a “separation from service” within the meaning of Section 409A.

4.10.2    Each payment or benefit to which the Executive becomes entitled under this Agreement will be considered, and is hereby designated as, a separate payment for purposes of Section 409A (and consequently the Executive’s entitlement to such payment or benefit will not be considered an entitlement to a single payment of the aggregate amount to be paid).  Any reimbursement of expenses by the Company under this Agreement shall be made not later than December 31st of the calendar year following the calendar year in which the expense is incurred, or such longer period as permitted by applicable regulations without resulting in the such reimbursement being “deferred compensation” (within the meaning of Section 409A).  No reimbursement of expenses or in-kind benefits provided in one calendar year shall affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year.  The Executive’s right to expense reimbursement shall not be subject to liquidation or exchange for another benefit.

4.10.3    If the Company makes a good faith determination that a payment under this Agreement (i) constitutes a deferral of compensation for purposes of Section 409A, (ii) is made to the Executive by reason of his separation from service, (iii) at the time such payment would otherwise be made, the Executive is a “specified employee” within the meaning of Section 409A (and using the identification methodology specified by the Company from time to time), and (iv) a delay in payment is required in order to avoid the imposition of excise taxes under Section 409A and such delay is not already provided for by the Agreement, then the payment shall be delayed until the earlier of (A) the first business day following the six-month anniversary of the Executive’s separation from service, or (B) the Executive’s death.

		
	5.
	Protection of Confidential Information; Non-Competition; Non-Disparagement.

5.1    The Executive acknowledges that the Executive’s services will be unique, that they will involve the development of Company-subsidized relationships with key customers, suppliers, and service providers as well as with key Company employees and that the Executive’s work for the Company will give the Executive access to highly confidential information not available to the public or competitors, including trade secrets and confidential marketing, sales, product development and other data and information which it would be impracticable for the Company to effectively protect and preserve in the absence of this Section 5 and the disclosure or misappropriation of which could materially adversely affect the Company.  Accordingly, the Executive agrees:

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5.1.1    except in the course of performing the Executive’s duties provided for in Section 1.1, not at any time, whether before, during or after the Executive’s employment with the Company, to divulge to any other entity or person any confidential information acquired by the Executive concerning the Company’s or its affiliates’ financial affairs or business processes or methods or their research, development or marketing programs or plans, or any other of its or their trade secrets.  In the event that the Executive is requested or required to make disclosure of information subject to this Section 5.1.1 under any court order, subpoena or other judicial process, then, except as prohibited by law, the Executive will promptly notify the Company, take all reasonable steps requested by the Company to defend against the compulsory disclosure and permit the Company to control with counsel of its choice any proceeding relating to the compulsory disclosure.  The Executive acknowledges that all information, the disclosure of which is prohibited by this section, is of a confidential and proprietary character and of great value to the Company.

5.1.2    to deliver promptly to the Company on termination of the Executive’s employment with the Company, or at any time that the Company may so request, all confidential memoranda, notes, records, reports, manuals, drawings, blueprints and other documents (and all copies thereof) relating to the Company’s business and all property associated therewith, which the Executive may then possess or have under the Executive’s control.

5.2    In consideration of the Company’s entering into this Agreement, the Executive agrees that at all times during the Term and thereafter, until the first anniversary of the date of the termination of the Term for any reason, the Executive shall not, directly or indirectly, for himself or on behalf of or in conjunction with, any other person, company, partnership, corporation, business, group, or other entity (each, a “Person”):

5.2.1    provide services to a “Competitor” (as defined below), as an officer, director, shareholder, owner, partner, joint venturer, or in any other capacity, whether as an executive, independent contractor, consultant, advisor, or sales representative; or

5.2.2    call upon any Person who is or that is, at such date of termination, engaged in activity on behalf of the Company or any affiliate of the Company for the purpose or with the intent of enticing such Person to cease such activity on behalf of the Company or such affiliate.

For purposes of this Agreement, “Competitor” means, on any date, a person or entity that is primarily engaged in a material line of business conducted by the Company.
5.3    The Company agrees that it shall cause its directors and officers to refrain from making, publishing or communicating to any third party or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Executive.  The Executive agrees that he shall not make, publish or communicate to any Person or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Company or its businesses, or any of its directors, officers, employees or existing and prospective customers, suppliers, investors or other business relations.  This Section 5.3 does not, in any way, restrict or impede the Executive from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law or order.

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5.4    If the Executive commits a breach of any of the provisions of Section 5.1, 5.2 or 5.3 hereof, the Company shall have the right and remedy to have such provisions specifically enforced by any court having equity jurisdiction, it being acknowledged and agreed that any such breach will cause irreparable injury to the Company and that money damages will not provide an adequate remedy to the Company, and, if the Executive attempts or threatens to commit a breach of any of the provisions of Section 5.1, 5.2 or 5.3, the right and remedy to be granted a preliminary and permanent injunction in any court having equity jurisdiction against the Executive with respect to the attempted or threatened breach, it being agreed that each of such rights and remedies shall be independent of the others and shall be severally enforceable, and that all of such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity.  If the Company commits a breach of any of the provisions of Section 5.3 hereof, the Executive shall have the right and remedy to have such provisions specifically enforced by any court having equity jurisdiction, it being acknowledged and agreed that any such breach will cause irreparable injury to the Executive and that money damages will not provide an adequate remedy to the Executive, and, if the Company attempts or threatens to commit a breach of any of the provisions of Section 5.3, the right and remedy to be granted a preliminary and permanent injunctions in any court having equity jurisdiction against the Company with respect to the attempted or threatened breach, it being agreed that each of such rights and remedies shall be independent of the others and shall be severally enforceable, and that all of such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Executive under law or in equity.

5.5.    If any of the covenants contained in Section 5.1, 5.2, 5.3 or 5.4, or any part thereof, hereafter are construed to be invalid or unenforceable, the same shall not affect the remainder of the covenant or covenants, which shall be given full effect, without regard to the invalid portions.

5.6    The period during which the prohibitions of Section 5.2 are in effect shall be extended by any period or periods during which the Executive is in violation of Section 5.2.

5.7    If any of the covenants contained in Section 5.1 or 5.2, or any part thereof are held to be unenforceable because of the duration of such provision or the area covered thereby, the parties agree that the court making such determination shall have the power to reduce the duration and/or area of such provision so as to be enforceable to the maximum extent permitted by applicable law and, in its reduced form, said provision shall then be enforceable.

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5.8    The parties hereto intend to and hereby confer jurisdiction to enforce the covenants contained in Sections 5.1, 5.2, 5.3 and 5.4 upon the courts of any state within the geographical scope of such covenants.  In the event that the courts of any one or more of such states shall hold such covenants wholly unenforceable by reason of the breadth of such covenants or otherwise, it is the intention of the parties hereto that such determination not bar or in any way affect the Company’s right to the relief provided above in the courts of any other states within the geographical scope of such covenants as to breaches of such covenants in such other respective jurisdictions, the above covenants as they relate to each state being for this purpose severable into diverse and independent covenants.

5.9    Executive and the Company agree and acknowledge that one-third of any payment contemplated by clause (i) of Section 4.6.1 following a Change of Control and the termination of Executive’s employment is intended to be additional consideration of Executive’s obligations under Section 5.2 of this Agreement in recognition of the additional value to the Company of Executive’s obligations under Section 5.2 of this Agreement following a Change of Control and the termination of Executive’s employment.

5.10    Nothing in this Agreement prevents Executive from providing, without prior notice to the Company, information to governmental or administrative authorities regarding possible violations of law or otherwise testifying or participating in any investigation or proceeding by any governmental or administrative authorities regarding possible violations of law.

		
	6.
	Inventions and Patents.

The Executive agrees that all processes, technologies and inventions (collectively, “Inventions”), including new contributions, improvements, ideas and discoveries, whether patentable or not, conceived, developed, invented or made by him during the Term shall belong to the Company, provided that such Inventions grew out of the Executive’s work with the Company or any of its subsidiaries or affiliates, are related in any manner to the business (commercial or experimental) of the Company or any of its subsidiaries or affiliates or are conceived or made on the Company’s time or with the use of the Company’s facilities or materials.  The Executive shall further (a) promptly disclose such Inventions to the Company; (b) assign to the Company, without additional compensation, all patent and other rights to such Inventions for the United States and foreign countries; (c) sign all papers necessary to carry out the foregoing; and (d) give testimony in support of the Executive’s inventorship. 
		
	7.
	Intellectual Property.

Notwithstanding and without limiting the provisions of Section 6, the Company shall be the sole owner of all the products and proceeds of the Executive’s services hereunder, including, but not limited to, all materials, ideas, concepts, formats, suggestions, developments, arrangements, packages, programs and other intellectual properties that the Executive may acquire, obtain, develop or create in connection with or during the Term, free and clear of any claims by the Executive (or anyone claiming under the Executive) of any kind or character whatsoever (other than the Executive’s right to receive payments hereunder), the Executive shall, at the request of the Company, execute such assignments, certificates or other instruments as the Company may from time to time deem necessary or desirable to evidence, establish, maintain, perfect, protect, enforce or defend its right, title or interest in or to any such properties.

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	8.
	Indemnification.

In addition to any rights to indemnification to which the Executive is entitled under the Company’s charter and by-laws, to the extent permitted by applicable law, the Company will indemnify, from the assets of the Company supplemented by insurance in an amount customary for corporations similar in size and value to the Company and engaged in business activities similar to the business activities of the Company, the Executive at all times, during and after the Term, and, to the maximum extent permitted by applicable law, shall pay the Executive’s expenses (including reasonable attorneys’ fees and expenses, which shall be paid in advance by the Company as incurred, subject to recoupment in accordance with applicable law) in connection with any threatened or actual action, suit or proceeding to which the Executive may be made a party, brought by any shareholder of the Company directly or derivatively or by any third party by reason of any act or omission or alleged act or omission in relation to any affairs of the Company or any subsidiary or affiliate of the Company of the Executive as an officer, director or employee of the Company or of any subsidiary or affiliate of the Company.  The Company shall maintain during the Term and thereafter insurance coverage sufficient to satisfy any indemnification obligation of the Company arising under this Section 8.
		
	9.
	Notices.

All notices, requests, consents and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if delivered personally, one day after sent by overnight courier or three days after mailed first class, postage prepaid, by registered or certified mail as follows (or to such other address as either party shall designate by notice in writing to the other in accordance herewith):
If to the Company, to:
Kaiser Aluminum Corporation
27422 Portola Parkway, Suite 200
Foothill Ranch, California 92610
Attn: General Counsel

If to the Executive, to the Executive’s principal residence as reflected in the records of the Company.
		
	10.
	General.

10.1    This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to agreements made between residents thereof and to be performed entirely in Delaware.

10.2    The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

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10.3    This Agreement sets forth the entire agreement and understanding of the parties relating to the subject matter hereof and supersedes all prior agreements, arrangements and understandings, written or oral, relating to the subject matter hereof.  No representation, promise or inducement has been made by either party that is not embodied in this Agreement, and neither party shall be bound by or liable for any alleged representation, promise or inducement not so set forth.

10.4    This Agreement, and the Executive’s rights and obligations hereunder, may not be assigned by the Executive, nor may the Executive pledge, encumber or anticipate any payments or benefits due hereunder, by operation of law or otherwise.  The Company may assign its rights, together with its obligations, hereunder (i) to any affiliate or (ii) to a third party in connection with any sale, transfer or other disposition of all or substantially all of any business to which the Executive’s services are then principally devoted, provided that no assignment pursuant to clause (ii) shall relieve the Company from its obligations hereunder to the extent the same are not timely discharged by such assignee.  In this regard, the parties acknowledge that Executive shall be employed by the Company’s subsidiary, Kaiser Aluminum Fabricated Products, LLC, a Delaware limited liability company (“KAFP”), and that while Executive is employed by KAFP, KAFP shall assume the payment obligations of the Company under this Agreement subject to the proviso set forth above in the preceding sentence which states that the Company shall not be relieved of its obligations hereunder to the extent that the obligations assumed by KAFP are not timely discharged by KAFP.

10.5    The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or the Term to the extent necessary to the intended preservation of such rights and obligations.

10.6    This Agreement may be amended, modified, superseded, canceled, renewed or extended and the terms or covenants hereof may be waived, only by a written instrument executed by both of the parties hereto, or in the case of a waiver, by the party waiving compliance.  The failure of either party at any time or times to require performance of any provision hereof shall in no manner affect the right at a later time to enforce the same.  No waiver by either party of the breach of any term or covenant contained in this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such breach, or a waiver of the breach of any other term or covenant contained in this Agreement.

10.7    This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

		
	11.
	Dispute Resolution.

Subject to the rights of the Company pursuant to Section 5.4 above, any controversy, claim or dispute arising out of or relating to this Agreement, the breach thereof, or the Executive’s employment by the Company shall be settled by arbitration with one arbitrator, who shall be licensed to practice law in the State of California.  The arbitration will be administered by the American Arbitration Association in accordance with its National Rules for Resolution of Employment Disputes.  The arbitration proceeding shall be confidential, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction.  Any such arbitration shall take place in Orange County, California, or in any other mutually agreeable location.  In the event any judicial action is necessary to enforce the arbitration provisions of this Agreement, sole jurisdiction shall be in the federal and state courts, as applicable, located in California.  Any request for interim injunctive relief or other provisional remedies or opposition thereto shall not be deemed to be a waiver of the right or obligation to arbitrate hereunder.  The Company shall pay or promptly reimburse the Executive for all reasonable costs, fees and expenses relating to such dispute, including reasonable legal fees.

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	12.
	Subsidiaries; Affiliates; and Benefits.

As used herein, the term “subsidiary” shall mean any corporation or other business entity controlled directly or indirectly by the corporation or other business entity in question; the term “affiliate” shall mean and include any corporation or other business entity directly or indirectly controlling, controlled by or under common control with the corporation or other business entity in question; and references to “benefits” and “benefit plans” shall include the benefits provided by the Company and the Company’s subsidiaries from time to time to senior executives of the Company generally and the underlying plans. 
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.	
					
	 
	 
	 
	 
	 

	 
	 
	KAISER ALUMINUM CORPORATION

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	/s/ John M. Donnan

	 
	 
	Name:
	 
	John M. Donnan

	 
	 
	Title:
	 
	Executive Vice President - Legal, Compliance and Human Resources

	 
	 
	 
	 
	 

	 
	 
	/s/ Jack A. Hockema

	 
	 
	Jack A. Hockema

	 
	 
	 
	 
	 

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