Document:

Exhibit 4.1

 

SGOCO GROUP, LTD.

 

CONVERTIBLE NOTE PURCHASE AGREEMENT

  

This Convertible
Note Purchase Agreement (the “Agreement”), is made as of the 18 day of April, 2018, by and
between SGOCO Group, Ltd., a Cayman Islands limited company (the “Company”), and Lin So Chun,
holder of Hong Kong Identity Card No. D580537(7), of 1603, 16/F, Wing Tak Comm. Center, 177-183 Wing Lok Street, Shueng Wan,
Hong Kong (“Purchaser”).

 

 

RECITALS

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements
of Section 5 of the Securities Act of 1933, as amended (the “Securities Act”) contained in Section 4(a)(2)
thereof and/or Regulation S thereunder, the Company desires to issue and sell to Purchaser, and Purchaser desires to purchase from
the Company, certain securities of the Company as more fully described in this Agreement. The Note (as defined below) and the equity
securities issuable upon conversion or exercise thereof are collectively referred to herein as the “Securities”.

 

AGREEMENT

 

In consideration
of the mutual promises contained herein and other good and valuable consideration, receipt of which is hereby acknowledged, the
parties to this Agreement agree as follows:

 

1.       Purchase
and Sale of the Note.

 

(a) Sale
and Issuance of the Note. Subject to the terms and conditions of this Agreement, Purchaser agrees to purchase at the Closing
(as defined below), and the Company agrees to sell and issue to Purchaser, a Convertible Promissory Note (the “Note”)
in substantially the form attached hereto as Exhibit A in the principal amount of Five Million Seven Hundred Seventy-Nine
Thousand Six Hundred Two United States Dollars (US$5,779,602.00) (the “Principal Amount”). The purchase
price of the Note shall be equal to one hundred percent (100%) of the Principal Amount (the “Purchase Price”).

 

(b) Closing;
Delivery.

 

(i) The
purchase and sale of the Note shall take place at such time and place as the Company and Purchaser may agree upon (which time and
place are designated as the “Closing”).

 

(ii)
At the Closing, (a) the Company shall deliver to Purchaser the Note against payment of the purchase price by the Purchaser
and the signature pages to this Agreement and the Note, and (b) the Purchaser shall deliver to the Company the payment of the
Purchase Price by wire transfer to a bank designated by the Company, the signature page to this Agreement and if requested by
the Company, a validly completed and executed IRS Form W-8 BEN or IRS Form W-9, as applicable, establishing Purchaser’s
exemption from withholding tax.

 

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2. Additional
Agreements. Purchaser understands and agrees that the conversion of the Note into equity securities of the Company may require
Purchaser’s execution of certain documents relating to the purchase and sale of such securities as well as any rights relating
to such equity securities and agrees to promptly execute such documents upon reasonable request of the Company.

 

3. Representations
and Warranties of the Company. The Company hereby represents and warrants to Purchaser that:

 

(a) Organization,
Good Standing and Qualification. The Company is a corporation duly organized and validly existing and in good standing under
the laws of the Cayman Islands and has all requisite corporate power and authority to carry on its business as now conducted and
as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in
which the failure so to qualify would have a material adverse effect on its business or properties.

 

(b) Authorization.
The execution of this Agreement and the issuance of the Note have been duly authorized by all necessary corporate action of the
Company. The Agreement and the Note, when executed and delivered by the Company, and subject to the completion of corporate actions
to be taken in connection with the issuance of any “Optional Conversion Shares” in an “Optional Conversion”
(as such terms are defined in the Note), shall constitute valid and legally binding obligations of the Company, enforceable against
the Company in accordance with their respective terms except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’
rights generally, or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies.

 

(c) Litigation.
There is no pending action, suit, proceeding, arbitration, mediation, complaint, claim, charge or investigation before any court,
arbitrator, mediator or governmental body, or to the Company’s knowledge, currently threatened in writing (i) against the
Company or (ii) against any consultant, officer, director or key employee of the Company arising out of his or her consulting,
employment or board relationship with the Company or that could otherwise reasonably be expected to materially affect the Company.

 

(d) Compliance
with Other Instruments. The Company is not in violation or default (i) of any provisions of its Memorandum and Articles of
Association, (ii) of any judgment, order, writ or decree of any court or governmental entity, or, (iii) to its knowledge, of any
provision of federal or state statute, rule or regulation materially applicable to the Company. The execution, delivery and performance
of this Agreement and the Note and the consummation of the transactions contemplated by hereby will not result in any such violation
or default, or constitute, with or without the passage of time and giving of notice, either (A) a default under any such judgment,
order, writ, decree, agreement, instrument, contract, lease, note, indenture, mortgage or purchase order or (B) an event which
results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, forfeiture,
or nonrenewal of any material permit or license applicable to the Company.

 

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4.       Representations
and Warranties of Purchaser. Purchaser hereby represents and warrants to the Company that:

 

(a) Authorization.
Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by Purchaser,
will constitute a valid and legally binding obligation of Purchaser, enforceable in accordance with its terms, except as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application
affecting enforcement of creditors’ rights generally, and as limited by laws relating to the availability of a specific performance,
injunctive relief, or other equitable remedies.

 

(b) Purchase
Entirely for Own Account; Regulation S. Purchaser is a non-U.S. person (as such term is defined in Rule 902 of Regulation S
under the Securities Act) and is not acquiring the Securities for the account or benefit of a U.S. person. Purchaser will not,
within six (6) months of the date of the transfer of any Securities to the Purchaser, (i) make any offers or sales of the Securities
in the United States or to, or for the benefit of, a U.S. person (in each case, as defined in Regulation S) other than in accordance
with Regulation S or another exemption from the registration requirements of the Securities Act, or (ii) engage in hedging transactions
with regard to the Securities unless in compliance with the Securities Act. Neither the Purchaser nor any of the Purchaser’s
affiliates or any person acting on its or their behalf has engaged or will engage in directed selling efforts (within the meaning
of Regulation S) with respect to the Securities, and all such persons have complied and will comply with the offering restriction
requirements of Regulation S in connection with the offering of the Securities outside of the United States.

 

(c) Knowledge;
Access to Information. Purchaser is aware of the Company’s business affairs and financial condition and has
acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities.
Purchaser acknowledges and understands that any investment in the Company is highly speculative and subject to a high degree
of risk which could result in the loss of Purchaser’s entire investment. Purchaser acknowledges that it has had the
opportunity to review all reports, schedules, forms, statements and other documents required to be filed by the Company under
the Securities Act and the Securities Exchange Act of 1934, as amended, including pursuant to Section 13(a) or 15(d) thereof,
for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file
such material) and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive
answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the
merits and risks of investing in the Securities; (ii) access to information about the Company and its financial condition,
results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and
(iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable
effort or expense that is necessary to make an informed investment decision with respect to the investment.

 

(d) Restricted
Securities. Purchaser understands that the Securities have not been, and may not be, registered under the Securities
Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other
things, the bona fide nature of the investment intent and the accuracy of Purchaser’s representations as expressed
herein. Purchaser understands that the Securities are “restricted securities” under applicable U.S. federal and
state securities laws and that, pursuant to these laws, Purchaser must hold the Securities indefinitely unless they are
registered with the Securities and Exchange Commission and qualified by state authorities, or an exemption from such
registration and qualification requirements is available. Purchaser acknowledges that the Company has no obligation to
register or qualify the Securities for resale. Purchaser further acknowledges that if an exemption from registration or
qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner
of sale, the holding period for the Securities, and on requirements relating to the Company which are outside of
Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy.

 

    3

     

    

 

(e) Legends.
Purchaser understands that the Securities, and any securities issued in respect thereof or exchange therefor, may bear one or all
of the following legends:

 

(i) “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE
EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED

UNDER THE SECURITIES ACT
OF 1933.”

 

(ii) Any
legend required by the Blue Sky laws of any state to the extent such laws are applicable to the shares represented by the certificate
so legended.

 

(f) Foreign
Investor. Purchaser hereby represents that it has satisfied itself as to the full observance by the Purchaser of the laws of
its jurisdiction applicable to the Purchaser in connection with the purchase of the Securities or the execution and delivery by
the Purchaser of this Agreement and the Note, including (i) the legal requirements within its jurisdiction for the purchase of
the Securities, (ii) any foreign exchange restrictions applicable to the purchase, (iii) any governmental or other consents that
may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to Purchaser’s
purchase, holding, redemption, sale, or transfer of the Securities. Purchaser’s subscription and payment for, and continued
beneficial ownership of, the Securities will not violate any securities or other laws of the Purchaser’s jurisdiction applicable
to the Purchaser.

 

(g) Brokers
or Finders. Purchaser has not engaged any brokers, finders or agents, and the Company has not, nor will, incur, directly or
indirectly, as a result of any action taken by Purchaser, any liability for brokerage or finders’ fees or agents’ commissions
or any similar charges in connection with this Agreement.

 

5.       Miscellaneous.

 

(a) Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement.

 

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(b) Governing
Law; Venue. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the internal laws of the State of New York, without giving effect
to its principles of conflicts of law. Venue for any dispute arising out of this Agreement shall be exclusively in the state and
federal courts located in the City of New York, Borough of Manhattan and each party hereby expressly consents to the personal jurisdiction
of such courts and irrevocably waives any objection to such venue based on forum nonconveniens.

 

(c) Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one instrument.

 

(d) Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

 

(e) Notices.
Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered
personally or by courier, overnight delivery service or confirmed facsimile, or 48 hours after being deposited in the national
mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s
address or facsimile number as set forth below or as subsequently modified by written notice.

 

(f) Amendments
and Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument
signed, in the case of an amendment, by the Company and Purchaser, in the case of a waiver, by the party against whom enforcement
of any such waived provision is sought. Any amendment or waivers effected in accordance with this Section 5(f) shall be binding
upon Purchaser and each transferee of the Securities, each future holder of all such Securities, and the Company. No waiver of
any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver
in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall
any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

(g) Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate
such provision in good faith, in order to maintain the economic position enjoyed by each party as close as possible to that under
the provision rendered unenforceable. In the event that the parties cannot reach a mutually agreeable and enforceable replacement
for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted
as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

 

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(h) Entire
Agreement. This Agreement, and the documents referred to herein constitute the entire agreement between the parties hereto
pertaining to the subject matter hereof, and any and all other written or oral agreements existing between the parties hereto are
expressly canceled.

 

(i) Legal
Expenses. All parties to this Agreement shall be responsible for their own legal expenses.

 

(j) Exculpation.
Purchaser acknowledges that it is not relying upon any person, firm or corporation, other than the Company and its officers and
directors, in making its investment or decision to invest in the Company.

 

[Signature pages follow]

 

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The undersigned have executed
this Agreement for effectiveness as of the date first set forth above.

 

PURCHASER:

 

 

	Lin So Chun	 
	 	 
	By: 	/s/ Lin So Chun	 
	 	 
	 	 
	 	 
	 	 
	 	 
	COMPANY:	 
	 	 
	 	 
	SGOCO GROUP, LTD.	 
	 	 
	By: 	/s/ Shi-bin Xie	 
	 	 
	Name: 	Shi-bin Xie	 
	 	 
	Title: 	CEO	 

 

     

     

    

 

EXHIBIT
A

 

NOTE

 

[See Attached]

 

 

     

     

    

  

THIS CONVERTIBLE PROMISSORY
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR
IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT OR AN APPLICABLE EXEMPTION FROM REGISTRATION AND AN OPINION OF COUNSEL IN A FORM SATISFACTORY
TO THE COMPANY TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

SGOCO
GROUP, LTD. CONVERTIBLE PROMISSORY NOTE

 

	US$5,779,602.00	Original Issue Date: April 18, 2018

  

For value
received, SGOCO GROUP, LTD., a Cayman Islands limited company (the “Company”), promises to pay to Lin
So Chun, holder of Hong Kong Identity Card No. D580537(7), of 1603, 16/F, Wing Tak Comm. Center, 177-183 Wing Lok Street, Shueng
Wan, Hong Kong (the “Holder”), the principal sum of Five Million Seven Hundred Seventy-Nine Thousand
Six Hundred Two United States Dollars (US$5,779,602.00) (the “Principal Amount”). Interest shall accrue
from the date of this Note on the unpaid principal amount at a rate equal to two and one-half percent (2.5%) per annum. This Note
is issued pursuant to that certain Convertible Promissory Note Purchase Agreement, dated as of Original Issue Date hereof, by and
between the Company and Holder (the “Purchase Agreement”). This Note is subject to the following terms
and conditions.

 

1.       Maturity;
Interest Payments.

 

(a) Unless
converted as provided in Section 2, this Note will mature and become due and payable on the five (5) year anniversary of
the Original Issue Date hereof (the “Maturity Date”). The Holder shall have the right, but not the obligation,
to convert all or any part of the aggregate outstanding Principal Amount of this Note, excluding any interest due thereon, if any,
into shares of the Company’s ordinary shares, par value $0.004 per share (the “Ordinary Shares”),
at any time prior to the earlier of the Maturity Date or the date on which this Note is paid in full in accordance with Section
2 below.

 

(b) Subject to Section 2 below,
interest shall accrue on this Note from the Original Issue Date hereof, and such accrued interest (the
“Interest”) shall be due and payable to the Holder on each anniversary of the Original Issue Date
(each, and “Conversion Interest Payment”). Upon the completion of an Optional Conversion (as
defined below) pursuant to which all unpaid Principal Amount is converted into Ordinary Shares, any accrued and unpaid
Interest, calculated on a pro-rata basis for the partial year, shall become immediately due and payable.

 

(c)
Notwithstanding the foregoing, the entire unpaid Principal Amount, together with accrued and unpaid Interest thereon, shall
become immediately due and payable upon (i) the insolvency of the Company, the commission of any act of bankruptcy by the
Company, or the execution by the Company of a general assignment for the benefit of creditors; (ii) the filing by or against
the Company of a petition in bankruptcy or any petition for relief under the federal bankruptcy act or the continuation of
such petition without dismissal for a period of ninety (90) days or more; (iii) the appointment of a receiver or trustee to
take possession of the property or assets of the Company or (iv) the occurrence of an Event of Default. An “Event
of Default” shall exist upon a material breach or default by the Company of its obligations under this Note or
the Purchase Agreement and the Company has failed to cure such breach or default within sixty (60) days following notice by
the Holder of the occurrence of such breach or default.

 

     

     

    

 

2.       Conversion.

 

(a) Optional Conversion.

 

(i) At
any time prior to the earlier of the Maturity Date or the date on which this Note is paid in full, at the option of the Holder,
by written notice to the Company in substantially the form attached hereto as Exhibit A (the “Optional Conversion
Notice”), all or any part of Principal Amount (the “Optional Conversion Amount”) may be
converted into Ordinary Shares. For the avoidance of doubt, no amounts of Interest accrued upon the Principal Amount may be converted
into Ordinary Shares. The number of Ordinary Shares to be issued upon any such conversion shall be the quotient obtained by dividing
(x) the Optional Conversion Amount by (y) a conversion price of One United States Dollar and 50/100 ($1.50) (the “Conversion
Price”) per Ordinary Share (the “Conversion Shares”); provided that in no event
shall the Company be obligated to accept an Optional Conversion Notice and issue Conversion Shares that would lead to issuances
of Ordinary Shares pursuant to this Note or any related convertible promissory notes in excess of an amount equal to 19.99% of
its issued and outstanding Ordinary Shares on the Original Issue Date.

 

(ii) The
Company shall take all actions, and shall execute, deliver and file all documents, agreements and instruments as are necessary
to cause the issuance and delivery of the Conversion Shares to the Holder as promptly as reasonably practicable following delivery
of the Optional Conversion Notice.

 

(iii) Upon
any conversion of any portion of the Principal Amount, the Holder hereby agrees to execute and deliver to the Company all customary
documents reasonably requested by the Company.

 

(b) Automatic
Conversion. Any Principal Amounts outstanding immediately prior to the Maturity Date shall automatically convert on the
Maturity Date into such number of Ordinary Shares obtained by dividing (i) the outstanding Principal Amount by (ii) the
Conversion Price; provided that, in the event that such conversion would lead to issuances of Ordinary Shares pursuant
to this Note or any related convertible promissory notes in excess of an amount equal to 19.99% of the Company’s issued
and outstanding Ordinary Shares on the Original Issue Date, the Company shall pay to Holder in cash the amount of unconverted
Principal Amount that would otherwise be converted into such excess Ordinary Shares.

 

(c) Mechanics
and Effect of Conversion. No fractional shares of the Company’s Ordinary Shares will be issued upon conversion
under this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the Company will pay to the
Holder in cash the amount of the unconverted Principal Amount of this Note that would otherwise be converted into such
fractional share. Upon the full conversion of this Note pursuant to the Section 2, the Holder shall surrender this
Note, duly endorsed, at the principal offices of the Company or any transfer agent of the Company. At its expense, the
Company will, as soon as practicable thereafter, issue and deliver to such Holder a certificate or certificates or
electronically through the DWAC or other established clearing corporation performing similar functions for the number of
shares which the Holder is entitled upon such conversion, together with any other securities and property to which the Holder
is entitled upon such conversion under the terms of this Note, including a check payable to the Holder for any cash amounts
payable as described herein. Upon a conversion of this Note, the Company will be forever released from all of its obligations
and liabilities under this Note with regard to that portion of the Principal Amount being converted, including without
limitation, the obligation to pay such portion of the Principal Amount.

 

     

     

    

 

(d) Reverse
Stock Splits. If the Ordinary Shares are reverse split or combined into smaller number of Ordinary Shares, the Conversion Price
shall be proportionately increased by the ratio which the total number of Ordinary Shares outstanding immediately after such event
bears to the total number of Ordinary Shares outstanding immediately prior to such event. In no other circumstances shall the Conversion
Price be adjusted, including but not limited to any forward split of the Ordinary Shares of the Company.

 

3. Payment;
Prepayment. All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may
from time to time designate in writing to the Company. Payment shall be credited first to the accrued Interest then due and payable
and the remainder applied to principal. The Note may be prepaid without the prior written consent of the Holder.

 

4. Transfer;
Successors and Assigns. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. The Holder may assign, pledge, or otherwise transfer this Note, in whole or in part, without
the prior written consent of the Company (a “Transfer”); provided that (i) the Holder shall deliver notice
of any such transfer at least five (5) business days prior to the effective date of such Transfer in the form attached hereto as
Exhibit B; (ii) that the Holder’s right to receive Interest payments under this Note may not be assigned or transferred,
in whole or in part, without the prior approval of the Company, which such consent may be withheld in the Company’s sole
discretion; and (iii) the respective successors and assigns shall enter into a transfer agreement, in the form suitable to the
Company. Subject to the preceding sentence, this Note may be transferred only upon surrender of the original Note for registration
of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company.
Thereupon, one or more new notes for the same principal amount will be issued to, and registered in the name of, the transferee
as Holder. Any principal are payable only to the registered holder of this Note, and any Interest accrued hereon is payable only
to the Holder.

 

5. Governing
Law; Venue. This Note and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed, construed and interpreted in accordance with the internal laws of the State of New York, without giving
effect to principles of conflicts of law. Venue for any dispute arising out of this Agreement shall be exclusively in the
state and federal courts located in the City of New York, Borough of Manhattan, and each party hereby expressly consents to
the personal jurisdiction of such courts and irrevocably waives any objection to such venue based on forum
nonconveniens.

 

     

     

    

 

6. Notices.
Any notice required or permitted by this Note shall be in writing and shall be deemed sufficient upon receipt, when delivered personally
or by courier, overnight delivery service or confirmed facsimile, or forty-eight (48) hours after being deposited in the national
mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s
address or facsimile number as included in the Purchase Agreement or as subsequently modified by written notice.

 

7. Stockholders,
Officers and Directors Not Liable. In no event shall any stockholder, officer or director of the Company be liable for any
amounts due or payable pursuant to this Note.

 

8. Loss
of Note. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note
or any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and
cancellation of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like
tenor.

 

9. Waiver
of Jury Trial. PARTIES HEREBY AGREE TO WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
OUT OF THIS NOTE. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY
COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH
OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.

 

[signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Convertible Promissory Note as of the Original Issue Date set forth above.

 

	 	COMPANY:
	 	 	 
	 	SGOCO GROUP, LTD.
	 	 	 
	 	 	 
	 	By: 	/s/ Shi-bin Xie
	 	 	 
	 	Name: 	Shi-bin Xie
	 	 	 
	 	Title: 	CEO
	 	 	 
	 	 	 
	 	AGREED TO AND ACCEPTED: 
	 	 	 
	 	Lin So Chun
	 	 	 
	 	By: 	/s/ Lin So Chun

 

     

     

    

 

Exhibit A

 

 

NOTICE OF CONVERSION

 

 

The undersigned hereby elects to convert
principal under the Convertible Promissory Note (the “Note”) issued by SGOCO Group, Ltd., a Cayman Islands
limited company (the “Company”) in the amount of US$_____________, into the Company’s ordinary
shares in accordance with the terms and conditions of the Note, as of the date written below. No fee will be charged to the
undersigned for any conversion.

 

Conversion calculation:

  

 

Number of ordinary shares to be issued:

 

 

 

DATE: ____________________

 

HOLDER:     ____________________________

(Print Name of Holder)

 

 

By:  _________________________

Name:

Title:

 

     

     

    

 

Exhibit B

 

 

NOTICE OF TRANSFER

 

The undersigned hereby
elects to transfer its rights and obligations under that Convertible Promissory Note issued by SGOCO Group, Ltd., a Cayman Islands
limited company (the “Company”), dated March [__], 2018, in the original principal amount of US$5,779,602 (the
“Note”), to the extent permitted under, and pursuant to the terms and conditions of, the Note, to the transferee
described below. Such transfer will be effective on [___________], 20[__]. The agreement transferring the undersigned’s rights
and obligations under the Note is attached hereto for the Company’s review and approval.

 

	Transferee Name: 	 	 
	 	 	 
	Address: 	 	 
	 	 	 
	Email: 	 	 

 

 

DATE: ____________________

 

HOLDER:     ____________________________

(Print Name of Holder)

 

 

By:  _________________________

Name:

Title:EX-4.3

 Exhibit 4.3 

DITECH HOLDING CORPORATION 

2018 EQUITY INCENTIVE PLAN 

(as amended and restated) 

1. Purpose. 
 The purpose
of the Ditech Holding Corporation 2018 Equity Incentive Plan is to further align the interests of eligible participants with those of the Company’s stockholders by providing incentive compensation opportunities tied to the performance of the
Company and its Common Stock. The Plan is intended to advance the interests of the Company and increase stockholder value by attracting, retaining and motivating key personnel upon whose judgment, initiative and effort the successful conduct of the
Company’s business is largely dependent. 
 2. Definitions. Capitalized terms used and not otherwise defined herein shall have
the meanings set forth below: 
 “Award” means an award of a Stock Option, Stock Appreciation Right, Restricted Stock
Award, Restricted Stock Unit or Stock Award granted under the Plan. 
 “Award Agreement” means a notice or an agreement
entered into between the Company and a Participant setting forth the terms and conditions of an Award granted to a Participant as provided in Section 14.2 hereof. 

“Beneficial Owner” and “beneficially owned” shall be determined as provided in Rule
13d-3 under the Exchange Act, as and to the extent modified by clause (d) of Section 11.2 hereof. 

“Board” means the Board of Directors of the Company. 

“Cause” shall have the meaning set forth in Section 12.2 hereof. 

“Change of Control” shall have the meaning set forth in Section 11.2 hereof. 

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

“Committee” means the Compensation and Human Resources Committee of the Board, unless the Board shall designate the
“Committee” to mean (i) such other committee of the Board appointed to administer the Plan or (ii) the full Board. 

“Common Stock” means the Company’s common stock, par value $0.01 per share. 

“Company” means Ditech Holding Corporation, a Maryland corporation or any successor thereto. 

“Date of Grant” means the date on which an Award under the Plan is granted by the Committee or such later date as the
Committee may specify to be the effective date of an Award. 

 “Disability” means, unless otherwise provided by the Committee and set forth in
an Award Agreement, the failure or inability of the Participant to perform duties with the Company or any of its Subsidiaries or affiliates for a period of at least 180 consecutive days (or 180 days during any twelve (12) month period) by
reason of any physical or mental condition, as determined in good faith by the Committee in its sole discretion. Notwithstanding the foregoing, in any case in which a benefit that constitutes or includes “nonqualified deferred
compensation” subject to Section 409A would be payable by reason of Disability, the term “Disability” will mean a disability described in Treasury Regulations
Section 1.409A-3(i)(4)(i)(A). 
 “Effective Date” shall have the
meaning set forth in Section 15.1 hereof. 
 “Eligible Person” means any person who is an officer, employee, Non-Employee Director, or any natural person who is a consultant or advisor of the Company or any of its Subsidiaries. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 “Fair Market Value” means, as applied to a specific date, the price of a
share of Common Stock that is based on the opening, closing, actual, high, low or average selling prices of a share of Common Stock reported on any established stock exchange or national market system including without limitation the New York Stock
Exchange and the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading days, as
determined by the Committee in its discretion. Unless the Committee determines otherwise or unless otherwise specified in an Award Agreement, Fair Market Value shall be deemed to be equal to the closing price of a share of Common Stock on the most
recent date on which shares of Common Stock were publicly traded. Notwithstanding the foregoing, if the Common Stock is not traded on any established stock exchange or national market system, the Fair Market Value means the price of a share of
Common Stock as established by the Committee acting in good faith based on a reasonable valuation method that is consistent with the requirements of Section 409A of the Code and the regulations thereunder. 

“Incentive Stock Option” means a Stock Option granted under Section 6 hereof that is intended to meet the requirements
of Section 422 of the Code and the regulations thereunder. 
 “Non-Employee
Director” means a member of the Board who is not an employee of the Company or any of its Subsidiaries. 
 “Nonqualified
Stock Option” means a Stock Option granted under Section 6 hereof that is not an Incentive Stock Option. 

“Participant” means any Eligible Person who holds an outstanding Award under the Plan. 

“Plan” means the Ditech Holding Corporation 2018 Equity Incentive Plan as set forth herein, effective as of the Effective
Date and as may be amended from time to time as provided herein, and includes any sub-plan or appendix that may be created and approved by the Board to allow Eligible Persons of Subsidiaries to participate in
the Plan. 

  
 2 

 “Restricted Stock Award” means a grant of shares of Common Stock to an Eligible
Person under Section 8 hereof that are issued subject to such vesting and transfer restrictions as the Committee shall determine, and such other conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Restricted Stock Unit” means a contractual right granted to an Eligible Person under Section 9 hereof representing
notional unit interests equal in value to a share of Common Stock to be paid or distributed at such times, and subject to such conditions, as set forth in the Plan and the applicable Award Agreement. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as the
same may be amended from time to time. 
 “Service” means a Participant’s employment with the Company or any
Subsidiary or a Participant’s service as a Non-Employee Director, consultant or other service provider with the Company or any Subsidiary, as applicable. 

“Stock Appreciation Right” means a contractual right granted to an Eligible Person under Section 7 hereof entitling such
Eligible Person to receive a payment, representing the excess of the Fair Market Value of a share of Common Stock over the base price per share of the right, at such time, and subject to such conditions, as are set forth in the Plan and the
applicable Award Agreement. 
 “Stock Awards” means a grant of shares of Common Stock to an Eligible Person under
Section 10 hereof. 
 “Stock Option” means a contractual right granted to an Eligible Person under Section 6
hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Subsidiary” means an entity (whether or not a corporation) that is wholly or majority owned or controlled, directly
or indirectly, by the Company or any other affiliate of the Company that is so designated, from time to time, by the Committee, during the period of such affiliated status; provided, however, that with respect to Incentive Stock
Options, the term “Subsidiary” shall include only an entity that qualifies under Section 424(f) of the Code as a “subsidiary corporation” with respect to the Company. 

“Treasury Regulations” means regulations promulgated by the United States Treasury Department. 

3. Administration. 
 3.1
Committee Members. The Plan shall be administered by a Committee comprised of no fewer than two members of the Board who are appointed by the Board. To the extent deemed necessary by the Board, each Committee member shall satisfy the
requirements for (i) an 

  
 3 

 
“independent director” under rules adopted by the New York Stock Exchange or other principal exchange on which the Common Stock is then listed and (ii) a “nonemployee
director” within the meaning of Rule 16b-3 under the Exchange Act. Notwithstanding the foregoing, the mere fact that a Committee member shall fail to qualify under any of the foregoing requirements shall
not invalidate any Award made by the Committee which Award is otherwise validly made under the Plan. Neither the Company nor any member of the Committee shall be liable for any action or determination made in good faith by the Committee with respect
to the Plan or any Award thereunder. 
 3.2 Committee Authority. The Committee shall have all powers and discretion necessary or
appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (i) determine the Eligible Persons to whom Awards shall be granted under the Plan, (ii) prescribe the restrictions, terms and
conditions of all Awards, (iii) interpret the Plan and terms of the Awards, (iv) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and interpret, amend or revoke any such rules,
(v) make all determinations with respect to a Participant’s Service and the termination of such Service for purposes of any Award, (vi) correct any defect(s) or omission(s) or reconcile any ambiguity(ies) or inconsistency(ies) in the
Plan or any Award thereunder, (vii) make all determinations it deems advisable for the administration of the Plan, (viii) decide all disputes arising in connection with the Plan and to otherwise supervise the administration of the Plan,
(ix) subject to the terms of the Plan, amend the terms of an Award in any manner that is not inconsistent with the Plan, (x) accelerate the vesting or, to the extent applicable, exercisability of any Award at any time (including, but not
limited to, upon a Change of Control or upon termination of Service under certain circumstances, as set forth in the Award Agreement or otherwise), and (xi) adopt such procedures, modifications or subplans as are necessary or appropriate to
permit participation in the Plan by Eligible Persons who are foreign nationals or employed outside of the United States. The Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among
Participants and Eligible Persons, whether or not such persons are similarly situated. The Committee shall, in its discretion, consider such factors as it deems relevant in making its interpretations, determinations and actions under the Plan
including, without limitation, the recommendations or advice of any officer or employee of the Company or such attorneys, consultants, accountants or other advisors as it may select. All interpretations, determinations, and actions by the Committee
shall be final, conclusive, and binding upon all parties. 
 3.3 Delegation of Authority. The Committee shall have the right, from
time to time, to delegate to one or more officers of the Company the authority of the Committee to grant and determine the terms and conditions of Awards granted under the Plan, subject to applicable state law (or any successor provision) or such
other limitations as the Committee shall determine. Any such delegation of authority shall be evidenced by written consent, resolution adopted at a duly held meeting of the Committee, or otherwise in writing, and shall specify the total number of
shares of Common Stock that may be granted pursuant to such delegation and any other terms necessary to be specified under applicable state law. Such officers shall report periodically to the Committee regarding the nature and scope of the Awards
granted pursuant to the delegated authority. In no event shall any such delegation of authority be permitted with respect to Awards granted to any member of the Board or to any Eligible Person who is subject to Rule
16b-3 under the Exchange Act. The Committee shall also be permitted to delegate, to any appropriate officer 

  
 4 

 
or employee of the Company, responsibility for performing certain ministerial functions under the Plan. In the event that the Committee’s authority is delegated to officers or employees in
accordance with the foregoing, all provisions of the Plan relating to the Committee shall be interpreted in a manner consistent with the foregoing by treating any such reference as a reference to such officer or employee for such purpose. Any action
undertaken in accordance with the Committee’s delegation of authority hereunder shall have the same force and effect as if such action was undertaken directly by the Committee and shall be deemed for all purposes of the Plan to have been taken
by the Committee. 
 4. Shares Subject to the Plan. 

4.1 Number of Shares Reserved. Subject to adjustment as provided in Section 4.5 hereof, the total number of shares of Common
Stock that are authorized and reserved for issuance under the Plan (the “Share Reserve”) shall equal 3,193,750 and the total number of shares of Common Stock available for issuance as Incentive Stock Options shall be 3,193,750. Each
share of Common Stock subject to an Award shall reduce the Share Reserve by one share; provided, however, that Awards that are required to be paid in cash pursuant to their terms shall not reduce the Share Reserve. Any shares of Common
Stock delivered under the Plan shall consist of authorized and unissued shares. 
 4.2 Share Replenishment. To the extent that an
Award granted under this Plan is canceled, expired, forfeited, or otherwise terminated without delivery of the shares of Common Stock or payment of consideration to the Participant under the Plan, the shares of Common Stock retained by or returned
to the Company will (i) not be deemed to have been delivered under the Plan, as applicable, (ii) be available for future Awards under the Plan, and (iii) increase the Share Reserve by one share for each share that is retained by or
returned to the Company. Notwithstanding the foregoing, shares of Common Stock that are (a) withheld from an Award in payment of the exercise or purchase price or taxes relating to such an Award or (b) not issued or delivered as a result
of the net settlement of an outstanding Stock Option or Stock Appreciation Right under the Plan, as applicable, shall be deemed to constitute delivered shares of Common Stock and will not be available for future Awards under the Plan. 

4.3 Individual Award Limit. The maximum number of shares of Common Stock that may be subject to Stock Options, Stock Appreciation
Rights, Restricted Stock Awards, Restricted Stock Units and Stock Awards granted to any Eligible Person other than a Non-Employee Director during any calendar year shall be limited to 500,000 shares of Common Stock for all such Award types in the
aggregate (subject to adjustment as provided in Section 4.5 hereof). 
 4.4 Non-Employee
Director Limits. The maximum number of shares of Common Stock that may be subject to Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Units and Stock Awards granted to any
Non-Employee Director during any calendar year shall be limited to 200,000 shares of Common Stock for all such Award types in the aggregate (subject to adjustment as provided in Section 4.5 hereof).
Without limitation of the foregoing, the aggregate value of all compensation paid or provided to a non-employee director during any calendar year shall not exceed $500,000, and for purposes of determining such
aggregate value, compensation in the form of Awards shall be valued at the aggregate grant date fair value (as determined for financial reporting purposes). 

  
 5 

 4.5 Adjustments. If there shall occur any change with respect to the outstanding shares of
Common Stock by reason of any recapitalization, reclassification, stock dividend, extraordinary dividend, stock split, reverse stock split or other distribution with respect to the shares of Common Stock or any merger, reorganization, consolidation,
combination, spin-off, stock purchase or other similar corporate change or any other change affecting the Common Stock (other than regular cash dividends to stockholders of the Company), the Committee shall,
in the manner and to the extent it considers appropriate and equitable to the Participants and consistent with the terms of the Plan, cause an adjustment to be made to (i) the maximum number and kind of shares of Common Stock provided in
Sections 4.1, 4.3 and 4.4 hereof (including the maximum number of shares of Common Stock that may become payable to a Participant provided in Sections 4.3 and 4.4 hereof), (ii) the number and kind of shares of Common Stock, units or other
rights subject to then outstanding Awards, (iii) the exercise or base price for each share or unit or other right subject to then outstanding Awards, (iv) other value determinations applicable to the Plan and/or outstanding Awards, and
(v) any other terms of an Award that are affected by the event. Notwithstanding the foregoing, (a) any such adjustments shall, to the extent necessary, be made in a manner consistent with the requirements of Section 409A of the Code
and (b) in the case of Incentive Stock Options, any such adjustments shall, to the extent practicable, be made in a manner consistent with the requirements of Section 424(a) of the Code. 

5. Eligibility and Awards. 

5.1 Designation of Participants. Any Eligible Person may be selected by the Committee to receive an Award and become a Participant. The
Committee has the authority, in its discretion, to determine and designate from time to time those Eligible Persons who are to be granted Awards, the types of Awards to be granted, the number of shares of Common Stock or units subject to Awards to
be granted and the terms and conditions of such Awards consistent with the terms of the Plan. In selecting Eligible Persons to be Participants, and in determining the type and amount of Awards to be granted under the Plan, the Committee shall
consider any and all factors that it deems relevant or appropriate. Designation of a Participant in any year shall not require the Committee to designate such person to receive an Award in any other year or, once designated, to receive the same type
or amount of Award as granted to such Participant in any other year. 
 5.2 Determination of Awards. The Committee shall determine
the terms and conditions of all Awards granted to Participants in accordance with its authority under Section 3.2 hereof. An Award may consist of one type of right or benefit hereunder or of two or more such rights or benefits granted in
tandem. 
 5.3 Award Agreements. Each Award granted to an Eligible Person shall be represented by an Award Agreement. The terms of
all Awards under the Plan, as determined by the Committee, will be set forth in each individual Award Agreements as described in Section 14.2 hereof. 

  
 6 

 6. Stock Options. 

6.1 Grant of Stock Options. A Stock Option may be granted to any Eligible Person selected by the Committee, except that an Incentive
Stock Option may only be granted to an Eligible Person satisfying the conditions of Section 6.7(a) hereof. Each Stock Option shall be designated on the Date of Grant, in the discretion of the Committee, as an Incentive Stock Option or as a
Nonqualified Stock Option. All Stock Options granted under the Plan are intended to comply with or be exempt from the requirements of Section 409A of the Code, to the extent applicable. 

6.2 Exercise Price. The exercise price per share of a Stock Option shall not be less than one hundred percent (100%) of the Fair Market
Value of a share of Common Stock on the Date of Grant. The Committee may in its discretion specify an exercise price per share that is higher than the Fair Market Value of a share of Common Stock on the Date of Grant. 

6.3 Vesting of Stock Options. The Committee shall, in its discretion, prescribe in an award agreement the time or times at which or the
conditions upon which, a Stock Option or portion thereof shall become vested and/or exercisable. The requirements for vesting and exercisability of a Stock Option may be based on the continued Service of the Participant with the Company or a
Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Stock Option are not
satisfied, the Award shall be forfeited. 
 6.4 Term of Stock Options. The Committee shall in its discretion prescribe in an Award
Agreement the period during which a vested Stock Option may be exercised; provided, however, that the maximum term of a Stock Option shall be ten (10) years from the Date of Grant. The Committee may provide that a Stock Option
will cease to be exercisable upon or at the end of a specified time period following a termination of Service for any reason as set forth in the Award Agreement or otherwise. A Stock Option may be earlier terminated as specified by the Committee and
set forth in an Award Agreement upon or following the termination of a Participant’s Service with the Company or any Subsidiary, including by reason of voluntary resignation, death, Disability, termination for Cause or any other reason. Subject
to Section 409A of the Code and the provisions of this Section 6, the Committee may extend at any time the period in which a Stock Option may be exercised. 

6.5 Stock Option Exercise; Tax Withholding. Subject to such terms and conditions as specified in an Award Agreement, a Stock Option may
be exercised in whole or in part at any time during the term thereof by notice in the form required by the Company, together with payment of the aggregate exercise price and applicable withholding tax. Payment of the exercise price may be made:
(i) in cash or by cash equivalent acceptable to the Committee, or, (ii) to the extent permitted by the Committee in its sole discretion in an Award Agreement or otherwise (A) in shares of Common Stock valued at the Fair Market Value
of such shares on the date of exercise, (B) through an open-market, broker-assisted sales transaction pursuant to which the Company is promptly delivered the amount of proceeds necessary to satisfy the exercise price, (C) by reducing the
number of shares of Common Stock otherwise deliverable upon the exercise of the Stock Option by the number of shares of Common Stock having a Fair Market Value on 

  
 7 

 
the date of exercise equal to the exercise price, (D) by a combination of the methods described above or (E) by such other method as may be approved by the Committee and set forth in
the Award Agreement. In accordance with Section 14.11 hereof, and in addition to and at the time of payment of the exercise price, the Participant shall pay to the Company the full amount of any and all applicable income tax, employment tax and
other amounts required to be withheld in connection with such exercise, payable under such of the methods described above for the payment of the exercise price as may be approved by the Committee and set forth in the Award Agreement. 

6.6 Limited Transferability of Nonqualified Stock Options. All Stock Options shall be nontransferable except (i) upon the
Participant’s death, in accordance with Section 14.3 hereof or (ii) in the case of Nonqualified Stock Options only, for the transfer of all or part of the Stock Option to a Participant’s “family member” (as defined for
purposes of the Form S-8 registration statement under the Securities Act), or as otherwise permitted by the Committee, in each case as may be approved by the Committee in its discretion at the time of proposed
transfer. The transfer of a Nonqualified Stock Option may be subject to such terms and conditions as the Committee may in its discretion impose from time to time. Subsequent transfers of a Nonqualified Stock Option shall be prohibited other than in
accordance with Section 14.3 hereof. 
 6.7 Additional Rules for Incentive Stock Options. 

(a) Eligibility. An Incentive Stock Option may only be granted to an Eligible Person who is considered an employee for purposes of
Treasury Regulation Section 1.421-1(h) with respect to the Company or any Subsidiary that qualifies as a “subsidiary corporation” with respect to the Company for purposes of Section 424(f)
of the Code. 
 (b) Annual Limits. No Incentive Stock Option shall be granted to a Participant as a result of which the aggregate
Fair Market Value (determined as of the Date of Grant) of the Common Stock with respect to which incentive stock options under Section 422 of the Code are exercisable for the first time in any calendar year under the Plan and any other stock
option plans of the Company or any Subsidiary or parent corporation, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation shall be applied by taking Stock Options into account in the order in which
granted. Any Stock Option grant that exceeds such limit shall be treated as a Nonqualified Stock Option. 
 (c) Additional
Limitations. In the case of any Incentive Stock Option granted to an Eligible Person who owns, either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing more than ten
percent (10%) of the total combined voting power of all classes of stock of the Company or any Subsidiary, the exercise price shall not be less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on the Date of
Grant and the maximum term shall be five (5) years. 
 (d) Termination of Service. An Award of an Incentive Stock Option may
provide that such Stock Option may be exercised not later than (i) three (3) months following termination of Service of the Participant with the Company and all Subsidiaries (other than as set forth in clause (ii) of this
Section 6.7(d)) or (ii) one year following termination of Service of the Participant with the Company and all Subsidiaries due to death or permanent and total disability within the meaning of Section 22(e)(3) of the Code, in each case
as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code. 

  
 8 

 (e) Other Terms and Conditions; Nontransferability. Any Incentive Stock Option granted
hereunder shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as are deemed necessary or desirable by the Committee, which terms, together with the terms of the Plan, shall be intended and interpreted to
cause such Incentive Stock Option to qualify as an “incentive stock option” under Section 422 of the Code. A Stock Option that is granted as an Incentive Stock Option shall, to the extent it fails to qualify as an “incentive
stock option” under the Code, be treated as a Nonqualified Stock Option. An Incentive Stock Option shall by its terms be nontransferable other than by will or by the laws of descent and distribution, and shall be exercisable during the lifetime
of a Participant only by such Participant. 
 (f) Disqualifying Dispositions. If shares of Common Stock acquired by exercise of an
Incentive Stock Option are disposed of within two years following the Date of Grant or one year following the transfer of such shares to the Participant upon exercise, the Participant shall, promptly following such disposition, notify the Company in
writing of the date and terms of such disposition and provide such other information regarding the disposition as the Company may reasonably require. 

6.8 Repricing Prohibited. Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof, without the prior
approval of the Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Option when the exercise price per share exceeds the Fair Market Value of one share of Common Stock in exchange for cash or another Award (other
than in connection with a Change of Control) or cause the cancellation, substitution or amendment of a Stock Option that would have the effect of reducing the exercise price of such a Stock Option previously granted under the Plan or otherwise
approve any modification to such a Stock Option, that would be treated as a “repricing” under the then applicable rules, regulations or listing requirements adopted by the New York Stock Exchange or other principal exchange on which the
Common Stock is then listed. 
 6.9 Dividend Equivalent Rights. Dividends may not be paid with respect to Stock Options. Dividend
equivalent rights shall be granted with respect to the shares of Common Stock subject to Stock Options to the extent permitted by the Committee and set forth in the Award Agreement. 

6.10 No Rights as Stockholder. The Participant shall not have any rights as a stockholder with respect to the shares underlying a Stock
Option until such time as shares or Common Stock are delivered to the Participant pursuant to the terms of the Award Agreement. 
 7.
Stock Appreciation Rights. 
 7.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to any Eligible
Person selected by the Committee. Stock Appreciation Rights may be granted on a basis that allows for the exercise of the right by the Participant or that provides for the automatic payment of the right upon a specified date or event. Stock
Appreciation Rights shall be non-transferable, except as provided in Section 14.3 hereof. All Stock Appreciation Rights granted under the Plan are intended to comply with or otherwise be exempt from the requirements of Section 409A of the
Code, to the extent applicable. 

  
 9 

 7.2 Stand-Alone and Tandem Stock Appreciation Rights. A Stock Appreciation Right may be
granted without any related Stock Option, or may be granted in tandem with a Stock Option, either on the Date of Grant or at any time thereafter during the term of the Stock Option. The Committee shall in its discretion provide in an Award Agreement
the time or times at which or the conditions upon which, a Stock Appreciation Right or portion thereof shall become vested and/or exercisable. The requirements for vesting and exercisability of a Stock Appreciation Right may be based on the
continued Service of a Participant with the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its
discretion. If the vesting requirements of a Stock Appreciation Right are not satisfied, the Award shall be forfeited. A Stock Appreciation Right will be exercisable or payable at such time or times as determined by the Committee; provided,
however, that the maximum term of a Stock Appreciation Right shall be ten (10) years from the Date of Grant. The Committee may provide that a Stock Appreciation Right will cease to be exercisable upon or at the end of a period following
a termination of Service for any reason. The base price of a Stock Appreciation Right granted without any related Stock Option shall be determined by the Committee in its discretion; provided, however, that the base price per share of
any such stand-alone Stock Appreciation Right shall not be less than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Date of Grant. 

7.3 Payment of Stock Appreciation Rights. A Stock Appreciation Right will entitle the holder, upon exercise or other payment of the
Stock Appreciation Right, as applicable, to receive an amount determined by multiplying: (i) the excess of the Fair Market Value of a share of Common Stock on the date of exercise or payment of the Stock Appreciation Right over the base price
of such Stock Appreciation Right, by (ii) the number of shares as to which such Stock Appreciation Right is exercised or paid. Payment of the amount determined under the foregoing may be made, as approved by the Committee and set forth in the
Award Agreement, in shares of Common Stock valued at their Fair Market Value on the date of exercise or payment, in cash or in a combination of shares of Common Stock and cash, subject to applicable tax withholding requirements. 

7.4 Repricing Prohibited. Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof, without the prior
approval of the Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Appreciation Right when the base price per share exceeds the Fair Market Value of one share of Common Stock in exchange for cash or another Award
(other than in connection with a Change of Control) or cause the cancellation, substitution or amendment of a Stock Appreciation Right that would have the effect of reducing the base price of such a Stock Appreciation Right previously granted under
the Plan or otherwise approve any modification to such Stock Appreciation Right that would be treated as a “repricing” under the then applicable rules, regulations or listing requirements adopted by the New York Stock Exchange or other
principal exchange on which the Common Stock is then listed. 

  
 10 

 7.5 Dividend Equivalent Rights. Dividends shall not be paid with respect to Stock
Appreciation Rights. Dividend equivalent rights may be granted with respect to the shares of Common Stock subject to Stock Appreciation Rights to the extent permitted by the Committee and set forth in the Award Agreement. 

8. Restricted Stock Awards. 

8.1 Grant of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by the Committee. The
Committee may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award. 
 8.2
Vesting Requirements. The restrictions imposed on shares granted under a Restricted Stock Award shall lapse in accordance with the vesting requirements specified by the Committee in the Award Agreement. The requirements for vesting of a
Restricted Stock Award may be based on the continued Service of the Participant with the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions
as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Award are not satisfied, the Award shall be forfeited and the shares of Common Stock subject to the Award shall be returned to the Company. 

8.3 Transfer Restrictions. Shares granted under any Restricted Stock Award may not be transferred, assigned or subject to any
encumbrance, pledge or charge until all applicable restrictions are removed or have expired, except as provided in Section 14.3 hereof. Failure to satisfy any applicable restrictions shall result in the subject shares of the Restricted Stock
Award being forfeited and returned to the Company. The Committee may require in an Award Agreement that certificates (if any) representing the shares granted under a Restricted Stock Award bear a legend making appropriate reference to the
restrictions imposed, and that certificates (if any) representing the shares granted or sold under a Restricted Stock Award will remain in the physical custody of an escrow holder until all restrictions are removed or have expired. 

8.4 Rights as Stockholder. Subject to the foregoing provisions of this Section 8 and the applicable Award Agreement, the
Participant shall have all rights of a stockholder with respect to the shares of Common Stock granted to the Participant under a Restricted Stock Award, including the right to vote the shares and receive all dividends and other distributions paid or
made with respect thereto, unless the Committee determines otherwise at the time the Restricted Stock Award is granted. The Committee may provide in an Award Agreement for the payment of dividends and other distributions to the Participant at such
times as paid to stockholders generally, at the times of vesting or other payment of the Restricted Stock Award or otherwise; provided that, dividends and other distributions made with respect to a Restricted Stock Award that is subject to
performance-based vesting shall not be paid until, and only to the extent that the Award vests. 
 8.5 Section 83(b)
Election. If a Participant makes an election pursuant to Section 83(b) of the Code with respect to a Restricted Stock Award, the Participant shall file, within thirty (30) days following the Date of Grant, a copy of such election with
the Company and with the Internal Revenue Service, in accordance with the regulations under Section 83 of the Code. The Committee may provide in an Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s
making or refraining from making an election with respect to the Award under Section 83(b) of the Code. 

  
 11 

 9. Restricted Stock Units; Performance Stock Units. 

9.1 Grant of Restricted Stock Units. A Restricted Stock Unit may be granted to any Eligible Person selected by the Committee. The value
of each Restricted Stock Unit is equal to the Fair Market Value of a share of Common Stock on the applicable date or time period of determination, as specified by the Committee. Restricted Stock Units shall be subject to such restrictions and
conditions as the Committee shall determine. In addition, a Restricted Stock Unit may be designated as a “Performance Stock Unit,” the vesting requirements of which may be based, in whole or in part, on the attainment of pre-established business and/or individual performance goal(s) over a specified performance period. Restricted Stock Units shall be non-transferable, except as provided in
Section 14.3 hereof. 
 9.2 Vesting of Restricted Stock Units. The Committee shall, in its discretion, determine any vesting
requirements with respect to Restricted Stock Units, which shall be set forth in the Award Agreement. The requirements for vesting of a Restricted Stock Unit may be based on the continued Service of the Participant with the Company or a Subsidiary
for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Unit Award are
not satisfied, the Award shall be forfeited. 
 9.3 Payment of Restricted Stock Units. Restricted Stock Units shall become payable to
a Participant at the time or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit may be made, as approved by the Committee and set forth
in the Award Agreement, in cash or in shares of Common Stock or in a combination thereof, subject to applicable tax withholding requirements. Any cash payment of a Restricted Stock Unit shall be made based upon the Fair Market Value of a share of
Common Stock, determined on such date or over such time period as determined by the Committee. 
 9.4 Dividend Equivalent Rights.
Restricted Stock Units may be granted together with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be deemed reinvested in additional Restricted Stock Units or may be
accumulated in cash, as determined by the Committee in its discretion. Any payments made pursuant to dividend equivalent rights will be paid at such times as determined by the Committee in its discretion (including without limitation at the times
paid to stockholders generally or at the times of vesting or payment of the Restricted Stock Unit); provided that, dividends and other distributions made with respect to a Restricted Stock Unit that is subject to performance-based vesting shall not
be paid until, and only to the extent that, the Award vests. Dividend equivalent rights may be subject to forfeiture under the same conditions as apply to the underlying Restricted Stock Units. 

  
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 9.5 No Rights as Stockholder. The Participant shall not have any rights as a stockholder
with respect to the shares subject to a Restricted Stock Unit until such time as shares of Common Stock are delivered to the Participant pursuant to the terms of the Award Agreement. 

10. Stock Awards. 
 10.1
Grant of Stock Awards. A Stock Award may be granted to any Eligible Person selected by the Committee. A Stock Award may be granted for past Services, in lieu of bonus or other cash compensation, as directors’ compensation or for any
other valid purpose as determined by the Committee. The Committee shall determine the terms and conditions of such Awards, and such Awards may be made without vesting requirements. In addition, the Committee may, in connection with any Stock Award,
require the payment of a specified purchase price. 
 10.2 Rights as Stockholder. Subject to the foregoing provisions of this
Section 10 and the applicable Award Agreement, upon the issuance of shares of Common Stock under a Stock Award the Participant shall have all rights of a stockholder with respect to the shares of Common Stock, including the right to vote the
shares and receive all dividends and other distributions paid or made with respect thereto. 
 11. Change of Control. 

11.1 Effect on Awards. Upon the occurrence of a Change of Control, unless otherwise provided in the Award Agreement, the Committee is
authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including without limitation the following (or any combination thereof): (a) continuation or assumption of such outstanding Awards under the Plan
by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (b) substitution by the surviving company or corporation or its parent of awards with substantially the same terms for
outstanding Awards (with appropriate adjustments to the type of consideration payable upon settlement of the Awards); (c) acceleration of exercisability, vesting and/or payment under outstanding Awards immediately prior to the occurrence of such
event or upon a termination of Service following such event; and (d) if all or substantially all of the Company’s outstanding shares of Common Stock are transferred in exchange for cash consideration in connection with such Change of
Control: (i) upon written notice, provide that any outstanding Stock Options and Stock Appreciation Rights are exercisable during a reasonable period of time immediately prior to the scheduled consummation of the event or such other reasonable
period as determined by the Committee (contingent upon the consummation of the event), and at the end of such period, such Stock Options and Stock Appreciation Rights shall terminate to the extent not so exercised within the relevant period; and
(ii) cancel all or any portion of outstanding Awards for fair value (in the form of cash, shares of Common Stock, other property or any combination thereof) as determined in the sole discretion of the Committee; provided, however,
that, in the case of Stock Options and Stock Appreciation Rights, the fair value may equal the excess, if any, of the value or amount of the consideration to be paid in the Change of Control transaction to holders of shares of Common Stock (or, if
no such consideration is paid, Fair Market Value of the shares of Common Stock) over the aggregate exercise or base price, as applicable, with respect to such Awards or portion thereof being canceled, or if no such excess, zero. 

  
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 11.2 Definition of Change of Control. Unless otherwise defined in an Award
Agreement, “Change of Control” shall mean the occurrence of one or more of the following events: 
 (a) Any person, within
the meaning of Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof (“Person”), becomes the Beneficial Owner, directly or indirectly,
of more than forty percent (40%) of the combined voting power, excluding any person that is the Beneficial Owner, directly or indirectly, of more than forty percent (40%) of the combined voting power on the Effective Date, of the then outstanding
voting securities of the Company entitled to vote generally in the election of its directors (the “Outstanding Company Voting Securities”) including by way of merger, consolidation or otherwise; provided, however, that for purposes of this
definition, the following acquisitions shall not be taken into account in determining whether a Change of Control has occurred: (i) any acquisition of voting securities of the Company directly from the Company or (ii) any acquisition by
the Company or any of its Subsidiaries of Outstanding Company Voting Securities, including an acquisition by any employee benefit plan or related trust sponsored or maintained by the Company, or any of its Subsidiaries. 

(b) The following individuals (the “Incumbent Directors”) cease for any reason to constitute a majority of the number of directors
then serving on the Board: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including, but not
limited to, a consent or proxy solicitation, relating to the election of directors of the Company by or on behalf of a Person other than the Board) whose appointment or election by the Board or nomination for election by the Company’s
stockholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the Effective Date or whose appointment, election or nomination for election was previously so approved or
recommended (or, if during the Initial Period (as defined in the Company’s Articles of Amendment and Restatement (the “Articles”)) in accordance with Sections 5.2 and 5.3 of such Articles). 

(c) Consummation of a reorganization, merger, or consolidation to which the Company is a party or a sale or other disposition of all or
substantially all of the assets of the Company (a “Business Combination”), unless, following such Business Combination: (i) any individuals and entities that were the Beneficial Owners of Outstanding Company Voting Securities
immediately prior to such Business Combination are the Beneficial Owners, directly or indirectly, of more than fifty percent (50%) of the combined voting power of the outstanding voting securities entitled to vote generally in the election of
directors (or election of members of a comparable governing body) of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such transaction owns all or substantially all of the Company or
all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) (the “Successor Entity”) in substantially the same proportions as their ownership immediately prior to such Business
Combination; (ii) no Person (excluding any Successor Entity, any person that is the Beneficial Owner, directly or indirectly, of more than forty percent (40%) of the combined voting power on the Effective Date or any employee benefit plan or
related trust of the Company, such Successor Entity, or any of their Subsidiaries) is the Beneficial Owner, directly or indirectly, of more than forty percent (40%) of the combined 

  
 14 

 
voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or comparable governing body) of the Successor Entity, except to the extent that
such ownership existed prior to the Business Combination; and (iii) at least a majority of the members of the board of directors (or comparable governing body) of the Successor Entity were Incumbent Directors (including persons deemed to be
Incumbent Directors) at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination. 

(d) For all purposes of this definition of “Change of Control”: (i) all outstanding shares of Common Stock and of Convertible
Preferred Stock are Outstanding Company Voting Securities, (ii) Common Stock and Convertible Preferred Stock shall be deemed to have the right to “vote generally in the election of directors” during the Initial Period (as defined in
the Company’s Articles) notwithstanding the second paragraph of Section 5.2 of the Articles, (iii) all determinations as to the percentage of Outstanding Company Voting Stock beneficially owned shall deem the Convertible Preferred
Stock to have been converted in full into Common Stock for purposes of such determination, (iv) shares of Common Stock acquired upon conversion of Convertible Preferred Stock or exercise of warrants outstanding on the date hereof (or upon
conversion, exercise or exchange in respect of any other security, to the extent that the Board in good faith shall have so provided prior to issuance thereof) shall not be excluded by clause (i) of paragraph (a) from determining whether a
Change of Control has occurred, solely as a result of having been so acquired, and (v) no person or persons shall be considered a “group” solely on account of possessing or exercising any right to vote or consent in respect of any
matter or to nominate or appoint directors pursuant to the Company’s Articles, By laws of the Company or Convertible Preferred Stock (including with respect to the General Optional Conversion Right therein). 

Notwithstanding the foregoing, to the extent necessary to comply with Section 409A of the Code with respect to the payment of “nonqualified deferred
compensation,” “Change of Control” shall be limited to a “change in control event” as defined under Section 409A of the Code. 

12. Forfeiture Events. 

12.1 General. The Committee may specify in an Award Agreement at the time of the Award that the Participant’s rights, payments and
benefits with respect to an Award are subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events
may include, without limitation, termination of Service for Cause, violation of material Company policies, breach of noncompetition, non-solicitation, confidentiality or other restrictive covenants that may
apply to the Participant or other conduct by the Participant that is detrimental to the business or reputation of the Company. 
 12.2
Termination for Cause. 
 (a) Treatment of Awards. Unless otherwise provided by the Committee and set forth in an Award
Agreement, if (i) a Participant’s Service with the Company or any Subsidiary shall be terminated for Cause or (ii) after termination of Service for any other reason, the Committee determines in its reasonable discretion that after
termination, the Participant 

  
 15 

 
engaged in conduct that violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary, such Participant’s rights, payments and benefits with
respect to an Award shall be subject to cancellation, forfeiture and/or recoupment, as provided in Section 12.3 below. The Company shall have the power to determine whether the Participant has been terminated for Cause, the date upon which such
termination for Cause occurs, whether the Participant engaged in conduct that violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary. Any such determination shall be final, conclusive and binding
upon all Persons. In addition, if the Company shall reasonably determine that a Participant has committed or may have committed any act which could constitute the basis for a termination of such Participant’s Service for Cause or violates any
continuing obligation or duty of the Participant in respect of the Company or any Subsidiary, the Company may suspend the Participant’s rights to exercise any Stock Option or Stock Appreciation Right, receive any payment or vest in any right
with respect to any Award pending a determination by the Company of whether an act or omission could constitute the basis for a termination for Cause as provided in this Section 12.2. 

(b) Definition of Cause. Unless otherwise defined in an Award Agreement, “Cause” shall mean: (i) the Participant
has committed a deliberate and premeditated act against the interests of the Company including, without limitation: an act of fraud, embezzlement, misappropriation or breach of fiduciary duty against the Company, including, but not limited to, the
offer, payment, solicitation or acceptance of any unlawful bribe or kickback with respect to the Company’s business; or (ii) the Participant has been convicted by a court of competent jurisdiction of, or pleaded guilty or nolo contendere
to, any felony or any crime involving moral turpitude; or (iii) the Participant has failed to perform or neglected the material duties incident to his employment or other engagement with the Company on a regular basis, and such refusal or
failure shall have continued for a period of twenty (20) days after written notice to the Participant specifying such refusal or failure in reasonable detail; or (iv) the Participant has been chronically absent from work (excluding
vacations, illnesses, Disability or leave of absence approved by the Company); or (v) the Participant has refused, after explicit written notice, to obey any lawful resolution of or direction by the Board which is consistent with the duties
incident to his employment or other engagement with the Company and such refusal continues for more than twenty (20) days after written notice is given to the Participant specifying such refusal in reasonable detail; or (vi) the
Participant has breached any of the material terms contained in any employment agreement, non-competition agreement, confidentiality agreement, restrictive covenants agreement or similar type of agreement to
which such Participant is a party; or (vii) the Participant has engaged in (x) the unlawful use (including being under the influence) or possession of illegal drugs on the Company’s premises or (y) habitual drunkenness on the
Company’s premises. 
 Any voluntary termination of Service or other engagement by the Participant in anticipation of an involuntary
termination of the Participant’s Service for Cause shall be deemed to be a termination for “Cause.” Notwithstanding the foregoing, in the event that a Participant is party to an employment, severance or similar agreement with the
Company or any of its affiliates and such agreement contains a definition of “Cause,” the definition of “Cause” set forth above shall be deemed replaced and superseded, with respect to such Participant, by the definition of
“Cause” used in such employment, severance or similar agreement. 

  
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 12.3 Right of Recapture. 

(a) General. If at any time within one (1) year (or such longer time specified in an Award Agreement or other agreement with a
Participant or policy applicable to the Participant) after the date on which a Participant exercises a Stock Option or Stock Appreciation Right or on which a Stock Award, Restricted Stock Award or Restricted Stock Unit vests or becomes payable, or
on which income otherwise is realized by a Participant in connection with an Award, (i) a Participant’s Service is terminated for Cause, (ii) the Committee determines in its discretion that the Participant is subject to any recoupment
of benefits pursuant to the Company’s compensation recovery, “clawback” or similar policy, as may be in effect from time to time, or (iii) after a Participant’s Service terminates for any other reason, the Committee
determines in its discretion either that, (1) during the Participant’s period of Service, the Participant engaged in an act or omission which would have warranted termination of the Participant’s Service for Cause or (2) after a
Participant’s termination of Service, the Participant engaged in conduct that materially violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary, then any gain realized by the Participant from
the exercise, vesting, payment or other realization of income by the Participant in connection with an Award, shall be paid by the Participant to the Company upon notice from the Company, subject to applicable state law. Such gain shall be
determined as of the date or dates on which the gain is realized by the Participant, without regard to any subsequent change in the Fair Market Value of a share of Common Stock. To the extent not otherwise prohibited by law, the Company shall have
the right to offset such gain against any amounts otherwise owed to the Participant by the Company (whether as wages, vacation pay or pursuant to any benefit plan or other compensatory arrangement). 

(b) Accounting Restatement. If a Participant receives compensation pursuant to an Award under the Plan (whether a Stock Option or
otherwise) based on financial statements that are subsequently required to be restated in a way that would decrease the value of such compensation, the Participant will, to the extent not otherwise prohibited by law, upon the written request of the
Company, forfeit and repay to the Company the difference between what the Participant received and what the Participant should have received based on the accounting restatement, in accordance with (i) the Company’s compensation recovery,
“clawback” or similar policy, as may be in effect from time to time and (ii) any compensation recovery, “clawback” or similar policy made applicable by law including the provisions of Section 945 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act and the rules, regulations and requirements adopted thereunder by the Securities and Exchange Commission and/or any national securities exchange on which the Company’s equity securities may be listed
(the “Policy”). By accepting an Award hereunder, the Participant acknowledges and agrees that the Policy shall apply to such Award, and all incentive-based compensation payable pursuant to such Award shall be subject to forfeiture
and repayment pursuant to the terms of the Policy. 
 13. Transfer, Leave of Absence, Etc. For purposes of the Plan, except as
otherwise determined by the Committee, the following events shall not be deemed a termination of Service: (a) a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another;
or (b) an approved leave of absence for military service or sickness, a leave of absence where the employee’s right to re-employment is guaranteed either by a statute or by contract or under the
policy pursuant to which the leave of absence was granted, a leave of absence for any other purpose approved by the Company or if the Committee otherwise so provides in writing. 

  
 17 

 14. General Provisions. 

14.1 Status of Plan. The Committee may authorize the creation of trusts or other arrangements to meet the Company’s obligations to
deliver shares of Common Stock or make payments with respect to Awards. 
 14.2 Award Agreement. An Award under the Plan shall be
evidenced by an Award Agreement in a written or electronic form approved by the Committee setting forth the number of shares of Common Stock or Restricted Stock Units subject to the Award, the exercise price, base price or purchase price of the
Award, the time or times at which an Award will become vested, exercisable or payable and the term of the Award. The Award Agreement also may set forth the effect on an Award of a Change of Control and/or a termination of Service under certain
circumstances. The Award Agreement shall be subject to and incorporate, by reference or otherwise, all of the applicable terms and conditions of the Plan, and also may set forth other terms and conditions applicable to the Award as determined by the
Committee consistent with the limitations of the Plan. The grant of an Award under the Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions, as are specified in the Plan as
being applicable to such type of Award (or to all Awards) or as are expressly set forth in the Award Agreement. The Committee need not require the execution of an Award Agreement by a Participant, in which case, acceptance of the Award by the
Participant shall constitute agreement by the Participant to the terms, conditions, restrictions and limitations set forth in the Plan and the Award Agreement as well as the administrative guidelines of the Company in effect from time to time. In
the event of any conflict between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall prevail. 
 14.3
No Assignment or Transfer; Beneficiaries. Except as provided in Section 6.6 hereof or as otherwise determined by the Committee, Awards under the Plan shall not be assignable or transferable by the Participant, and shall not be subject in
any manner to assignment, alienation, pledge, encumbrance or charge. Notwithstanding the foregoing, in the event of the death of a Participant, except as otherwise provided by the Committee in an Award Agreement, an outstanding Award may be
exercised by or shall become payable to the Participant’s designated beneficiary. In lieu of such designation, a Participant may, from time to time, name any beneficiary or beneficiaries to receive any benefit in case of the Participant’s
death before the Participant receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant and will be effective only when filed by the Participant in writing (in such form or manner as may be
prescribed by the Committee) with the Company during the Participant’s lifetime. If no validly designated beneficiary survives the Participant or if each surviving validly designated beneficiary is legally impaired or prohibited from receiving
the benefits under an Award, the Participant’s beneficiary shall be the legatee or legatees of such Award designated under the Participant’s last will or by such Participant’s executors, personal representatives or distributees of
such Award in accordance with the Participant’s will or the laws of descent and distribution. The Committee may provide in the terms of an Award Agreement or in any other manner prescribed by the Committee that the Participant shall have the
right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other benefits specified under an Award following the Participant’s death. 

  
 18 

 14.4 Deferrals of Payment. The Committee may in its discretion permit a Participant to
defer the receipt of payment of cash or delivery of shares of Common Stock that would otherwise be due to the Participant by virtue of the exercise of a right or the satisfaction of vesting or other conditions with respect to an Award;
provided, however, that such discretion shall not apply in the case of a Stock Option or Stock Appreciation Right. If any such deferral is to be permitted by the Committee, the Committee shall establish rules and procedures relating to
such deferral in a manner intended to comply with the requirements of Section 409A of the Code, including, without limitation, the time when an election to defer may be made, the time period of the deferral and the events that would result in
payment of the deferred amount, the interest or other earnings attributable to the deferral and the method of funding, if any, attributable to the deferred amount. 

14.5 No Right to Employment or Continued Service. Nothing in the Plan, in the grant of any Award or in any Award Agreement shall confer
upon any Eligible Person or any Participant any right to continue in the Service of the Company or any of its Subsidiaries or interfere in any way with the right of the Company or any of its Subsidiaries to terminate the employment or other service
relationship of an Eligible Person or a Participant for any reason or no reason at any time. 
 14.6 Rights as Stockholder. A
Participant shall have no rights as a holder of shares of Common Stock with respect to any unissued securities covered by an Award until the date the Participant becomes the holder of record of such securities. Except as provided in Section 4.5
hereof, no adjustment or other provision shall be made for dividends or other stockholder rights, except to the extent that the Award Agreement provides for dividend payments or dividend equivalent rights. The Committee may determine in its
discretion the manner of delivery of Common Stock to be issued under the Plan, which may be by delivery of stock certificates, electronic account entry into new or existing accounts or any other means as the Committee, in its discretion, deems
appropriate. The Committee may require that the stock certificates (if any) be held in escrow by the Company for any shares of Common Stock or cause the shares to be legended in order to comply with the securities laws or other applicable
restrictions or should the shares of Common Stock be represented by book or electronic account entry rather than a certificate, the Committee may take such steps to restrict transfer of the shares of Common Stock as the Committee considers necessary
or advisable. 
 14.7 Trading Policy and Other Restrictions. Stock Option exercises and other transactions involving Awards under the
Plan shall be subject to the Company’s Insider Trading and Regulation FD Policy and other restrictions, terms and conditions, to the extent established by the Committee, including any other applicable policies set by the Committee, from time to
time. 
 14.8 Section 409A Compliance. To the extent applicable, it is intended that the Plan and all Awards
hereunder comply with, or be exempt from, the requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder, and that the Plan and all Award Agreements shall be interpreted and applied by the
Committee in a manner 

  
 19 

 
consistent with this intent in order to avoid the imposition of any additional tax under Section 409A of the Code. In the event that any (i) provision of the Plan or an Award Agreement,
(ii) Award, payment, transaction or (iii) other action or arrangement contemplated by the provisions of the Plan is determined by the Committee to not comply with the applicable requirements of Section 409A of the Code and the
Treasury Regulations and other guidance issued thereunder, the Committee shall have the authority to take such actions and to make such changes to the Plan or an Award Agreement as the Committee deems necessary to comply with such requirements;
provided, however, that no such action shall adversely affect any outstanding Award without the consent of the affected Participant. No payment that constitutes deferred compensation under Section 409A of the Code that would
otherwise be made under the Plan or an Award Agreement upon a termination of Service will be made or provided unless and until such termination is also a “separation from service,” as determined in accordance with Section 409A of the
Code. Notwithstanding the foregoing or anything elsewhere in the Plan or an Award Agreement to the contrary, if a Participant is a “specified employee” as defined in Section 409A of the Code at the time of termination of Service with
respect to an Award, then solely to the extent necessary to avoid the imposition of any additional tax under Section 409A of the Code, the commencement of any payments or benefits under the Award shall be deferred until the date that is six
(6) months plus one (1) day following the date of the Participant’s termination of Service or, if earlier, the Participant’s death (or such other period as required to comply with Section 409A). In no event whatsoever shall
the Company be liable for any additional tax, interest or penalties that may be imposed on a Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code. 

14.9 Securities Law Compliance. No shares of Common Stock will be issued or transferred pursuant to an Award unless and until all then
applicable requirements imposed by Federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the shares of Common Stock may be listed, have been fully met.
As a condition precedent to the issuance of shares of Common Stock pursuant to the grant or exercise of an Award, the Company may require the Participant to take any reasonable action that the Company determines is necessary or advisable to meet
such requirements. The Committee may impose such conditions on any shares of Common Stock issuable under the Plan as it may deem advisable, including, without limitation, restrictions under the Securities Act under the requirements of any exchange
upon which such shares of the same class are then listed, and under any blue sky or other securities laws applicable to such shares. The Committee may also require the Participant to represent and warrant at the time of issuance or transfer that the
shares of Common Stock are being acquired solely for investment purposes and without any current intention to sell or distribute such shares. 

14.10 Substitute Awards in Corporate Transactions. Nothing contained in the Plan shall be construed to limit the right of the Committee
to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business or assets of any corporation or other entity. Without limiting the foregoing, the Committee
may grant Awards under the Plan to an employee or director of another corporation who becomes an Eligible Person by reason of any such corporate transaction in substitution for awards previously granted by such corporation or entity to such person.
The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such 

  
 20 

 
purpose. Any such substitute awards shall not reduce the Share Reserve; provided, however, that such treatment is permitted by applicable law and the listing requirements of the New
York Stock Exchange or other exchange or securities market on which the Common Stock is listed. 
 14.11 Tax Withholding. The
Participant shall be responsible for payment of any taxes or similar charges required by law to be paid or withheld from an Award or an amount paid in satisfaction of an Award. Any required withholdings shall be paid by the Participant on or prior
to the payment or other event that results in taxable income in respect of an Award. The Award Agreement may specify the manner in which the withholding obligation shall be satisfied with respect to the particular type of Award, which may include
permitting the Participant to elect to satisfy the withholding obligation by tendering shares of Common Stock to the Company or having the Company withhold a number of shares of Common Stock having a value equal to the minimum statutory tax or as
otherwise specified in an Award Agreement, or similar charge required to be paid or withheld. 
 14.12 Unfunded Plan. The adoption of
the Plan and any reservation of shares of Common Stock or cash amounts by the Company to discharge its obligations hereunder shall not be deemed to create a trust or other funded arrangement. Except upon the issuance of shares of Common Stock
pursuant to an Award, any rights of a Participant under the Plan shall be those of a general unsecured creditor of the Company, and neither a Participant nor the Participant’s permitted transferees or estate shall have any other interest in any
assets of the Company by virtue of the Plan. Notwithstanding the foregoing, the Company shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its
obligations under the Plan. 
 14.13 Other Compensation and Benefit Plans. The adoption of the Plan shall not affect any other share
incentive or other compensation plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of share incentive or other compensation or benefit program for employees of the Company or
any Subsidiary. The amount of any compensation deemed to be received by a Participant pursuant to an Award shall not constitute includable compensation for purposes of determining the amount of benefits to which a Participant is entitled under any
other compensation or benefit plan or program of the Company or a Subsidiary, including, without limitation, under any pension or severance benefits plan, except to the extent specifically provided by the terms of any such plan. 

14.14 Plan Binding on Transferees. The Plan shall be binding upon the Company, its transferees and assigns, and the Participant, the
Participant’s executor, administrator and permitted transferees and beneficiaries. 
 14.15 Severability. If any provision of
the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all
provisions shall remain enforceable in any other jurisdiction. 
 14.16 Governing Law. The Plan and all rights hereunder shall be
subject to and interpreted in accordance with the laws of the State of Maryland, without reference to the principles of conflicts of laws, and to applicable Federal securities laws. 

  
 21 

 14.17 No Fractional Shares. No fractional shares of Common Stock shall be issued or
delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock or whether such fractional shares or any
rights thereto shall be canceled, terminated or otherwise eliminated. 
 14.18 No Guarantees Regarding Tax Treatment. Neither the
Company nor the Committee make any guarantees to any person regarding the tax treatment of Awards or payments made under the Plan. Neither the Company nor the Committee has any obligation to take any action to prevent the assessment of any tax on
any person with respect to any Award under Section 409A of the Code, Section 4999 of the Code or otherwise and neither the Company nor the Committee shall have any liability to a person with respect thereto. 

14.19 Data Protection. By participating in the Plan, each Participant consents to the collection, processing, transmission and storage
by the Company, its Subsidiaries and any third party administrators of any data of a professional or personal nature for the purposes of administering the Plan. 

14.20 Awards to Non-U.S. Participants. To comply with the laws in countries other than the
United States in which the Company or any of its Subsidiaries or affiliates operates or has employees, Non-Employee Directors or consultants, the Committee, in its sole discretion, shall have the power and
authority to (i) modify the terms and conditions of any Award granted to Participants outside the United States to comply with applicable foreign laws, (ii) take any action, before or after an Award is made, that it deems advisable to
obtain approval or comply with any necessary local government regulatory exemptions or approvals and (iii) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or
advisable. Any subplans and modifications to Plan terms and procedures established under this Section 14.20 by the Committee shall be attached to this Plan document as appendices. 

15. Term; Amendment and Termination; Stockholder Approval; Arbitration. 

15.1 Term. The Plan shall be effective as of the date of its approval by the Board (the “Effective Date”). Subject to
Section 15.2 hereof, the Plan shall terminate on the tenth anniversary of the Effective Date. 
 15.2 Amendment and Termination.
The Board may from time to time and in any respect, amend, modify, suspend or terminate the Plan; provided, however, that no amendment, modification, suspension or termination of the Plan shall materially and adversely affect any Award
theretofore granted without the consent of the Participant or the permitted transferee of the Award. The Board may seek the approval of any amendment, modification, suspension or termination by the Company’s stockholders to the extent it deems
necessary in its discretion for purposes of compliance with Section 422 of the Code or for any other purpose, and shall seek such approval to the extent it deems necessary in its discretion to comply with applicable law or listing requirements
of the New York Stock Exchange or other exchange or securities market. Notwithstanding the foregoing, the Board shall have the authority to amend the Plan or any Award under the Plan without the consent of a Participant to the extent it deems
necessary or desirable in its discretion to comply with, take into account changes in, or interpretations of, applicable tax laws, securities laws, employment laws, accounting rules and other applicable laws, rules and regulations. 

  
 22

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