Document:

EMPLOYMENT
AGREEMENT

 

THIS EMPLOYMENT
AGREEMENT (“Agreement”), dated as of January 1, 2014, by and between WEYCO GROUP INC., a Wisconsin corporation
(the “Company”), and JOHN W. FLORSHEIM of Milwaukee, Wisconsin (“Florsheim”).

 

W I T N
E S S E T H

 

WHEREAS, Florsheim
is the President and Chief Operating Officer of the Company, and is familiar with the methods developed by the Company and the
products supplied by the Company to its customers; and

 

WHEREAS, the Company
desires to extend the period of its exclusive right to Florsheim’s services for the period commencing with the date hereof
and ending on December 31, 2016, in order to assure to itself the successful management of its business, and

 

WHEREAS, Florsheim
is willing to so extend the period of his employment, all on the terms and subject to the conditions hereinafter set forth.

 

NOW, THEREFORE, in
consideration of the mutual agreements hereinafter set forth, the parties hereto agree as follows:

 

1.           Employment.
The Company hereby employs Florsheim, during the term of this Agreement, in an executive and managerial capacity, to help supervise
and direct the operations of the Company as they are now or may hereafter be constituted. Florsheim shall have such title and responsibilities
as the Company’s Corporate Governance and Compensation Committee of the Board of Directors shall from time to time assign
to him, but the duties which he shall be called upon to render hereunder shall not be of a nature substantially inconsistent with
those he has rendered and is currently rendering to the Company as its President and Chief Operating Officer. During the term of
this Agreement, Florsheim shall serve also, without additional compensation, in such offices of the Company to which he may be
elected or appointed by the Company’s Board of Directors. The Company shall not require Florsheim, without his consent, to
serve principally at a place other than Milwaukee, Wisconsin or its immediate suburban area, and shall exert its best efforts so
as not to require him in the performance of his duties hereunder to be absent, without his consent, from said city or its immediate
suburban area during any weekend or legal holiday nor for more than ten (10) days in any calendar month. Florsheim hereby accepts
such employment and agrees to devote his full time, attention, knowledge and skill to the business and interest of the Company
throughout the period of his employment hereunder. Florsheim shall be entitled to take vacations in the same manner and for the
same periods of time as has been his custom during the previous three years.

 

    	 

    	 

    

 

2.           Compensation.

 

(a)           As
compensation for his services to the Company during the term of this Agreement in whatever capacity or capacities rendered,
the Company shall, subject to the provisions of Section 3 hereof, pay Florsheim a salary of $565,200 (Five Hundred,
Sixty-five Thousand, Two  Hundred Dollars) per annum, or such greater amount per annum as the Corporate Governance and
Compensation Committee of the Board of Directors of the Company may, in its discretion, fix; said salary is to be payable in
equal, or approximately equal, bi-weekly installments.

 

(b)           Nothing herein
shall preclude Florsheim from receiving any additional compensation, whether in the form of bonus or otherwise, or from participating
in any present or future profit-sharing, pension or retirement plan, insurance, sickness or disability plan, stock option plan
or other plan for the benefits of Florsheim or the employees of the Company, in each case to the extent and in the manner approved
or determined by the Company’s Board of Directors. The current benefits are set forth in Schedule A hereto.

 

    	-2-

    	 

    

 

3.           Term.
The term of this Agreement shall be from the date hereof to and including December 31, 2016. Florsheim’s employment
hereunder shall be subject to the following:

 

(a)           If, during the
period of his employment hereunder, Florsheim is dismissed by the Company for cause, thereupon his employment shall terminate.
“Cause”, for purposes of this subparagraph, shall mean conduct or activities that cause a substantial demonstrable
detriment to the Company.

 

(b)           If Florsheim’s
employment terminates pursuant to Section 3(a) above, the Company shall be obligated to pay him his salary and other payments due
to be paid hereunder, on or prior to the date of termination; provided, that nothing herein shall be deemed to entitle Florsheim
to amounts accrued but not due to be paid, or to accelerate the date on which any payment of salary or bonus is due.

 

(c)           (i)           If, during
the term of this Agreement, the Company for any reason other than that contained in Section 3(a) terminates the employment of Florsheim,
or in the event that he terminates his employment following an event described in Section 6 hereof, the Company shall pay to Florsheim
as severance pay, on the first day of the seventh month which beings after the date of such termination, a lump sum amount that,
when added to any other payments or benefits which constitute “parachute payments”, will be equal to 299% of Florsheim’s
“base amount”, as those terms are defined in Section 280G of the Internal Revenue Code of 1986 (the “Code”)
and regulations promulgated by the Internal Revenue Service thereunder. The determination of Florsheim’s base amount shall
be made by the Company’s auditors.

 

    	-3-

    	 

    

 

(ii)           All or a portion
of the payment otherwise required to be made pursuant to the provisions of subparagraph (i) above shall be delayed to the extent
the Company reasonably anticipates that the Company’s deduction with respect to such payment would be limited or eliminated
by application of Code Section 162(m); provided, however that such payment shall be made on the earliest date on which the Company
anticipates that the deduction for the payment of the amount will not be limited or eliminated by application of Code Section 162(m).
In any event, such payment shall be made no later than the last day of the calendar year in which occurs the six (6) month anniversary
of Florsheim’s termination of employment. Any deferred amounts shall earn interest at the rate of 7% per annum until paid.

 

(d)           In the event Florsheim
is prevented from performing his duties by reason of disability, the salary provided by Section 2(a) of this Agreement shall cease
as of the date he becomes permanently disabled, except that the Company shall pay to Florsheim from the date such salary ceases
to December 31, 2016, inclusive, a salary at the rate equal to 75% of his then current salary, less any amount received by
Florsheim pursuant to a salary continuation insurance plan, the premiums for which are paid in whole or in part by the Company.
Florsheim shall be considered to be suffering from a “disability” if he is, by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not
less than 12 months, either (i) receiving income replacement benefits for a period of not less than three months under an
accident and health plan covering employees of the Company or (ii) unable to engage in any substantial gainful activity.

 

    	-4-

    	 

    

 

(e)           In the event Florsheim
dies prior to the termination of his employment hereunder (for purposes of this subparagraph, such employment shall not be deemed
terminated if, at the time of his death, the Company was making payments pursuant to Section 3(d) above), the salary provided by
Section 2(a) (or Section 3(d), as the case may be) shall cease as of the date of his death (prorated for part of any month), and
the Company shall pay to the beneficiary or beneficiaries of Florsheim, as designated by him pursuant to written direction given
by him to the Company (or in the absence of such writing or in the event the last such writing filed by him shall designate one
or more persons who are not living at the time of his death or shall for any other reason be wholly or partially ineffective, to
the personal representatives of his estate) a death benefit equal to his salary hereunder (at the annual rate which was being paid
to him at the date of his death) for a three-year period. Such death benefits shall be payable in thirty-six equal monthly installments,
the first of which shall be paid within sixty days next following the date of his death and the remaining of which shall be made
on the date during each of the thirty-five next succeeding calendar months corresponding to the date of such first payment. If
any payments are required to be made under this Section 3(e) to a beneficiary of Florsheim who shall have died after having commenced
receiving payments hereunder, such payment shall be made to the personal representative of said beneficiary’s estate.

 

4.           Restrictive
Covenants. During the term of this Agreement, Florsheim shall not, without the prior written consent of the Company, be engaged
in or connected or concerned with any business or activity which directly or indirectly competes with the business conducted by
the Company; nor will he take part in any activities detrimental to the best interest of the Company.

 

5.           Remedy for
Breach. In the event of the breach by Florsheim of any of the terms and conditions of this Agreement to be performed by him
(including, but not limited to, leaving the Company’s employment or performing services for any person, firm or corporation
engaged in a competing or similar line of business with the Company without the written consent of the Company), the Company shall
be entitled, if it so elects, to institute and prosecute proceedings in any court of competent jurisdiction, either at law or in
equity, to obtain damages for any breach of this Agreement, and to enjoin him (without the necessity of proving actual damage to
the Company) from performing services for any such other person, firm or corporation in violation of the terms of this Agreement,
or both. The Company shall not be so entitled, however, in the event Florsheim should voluntarily leave the Company’s employment
after the happening of any of the events specified in Section 6 hereof during the term of this Agreement. The remedies provided
herein shall be cumulative and in addition to any and all other remedies which the Company may have at law or in equity.

 

    	-5-

    	 

    

 

6.           Specific Events.
The following specific events will affect the rights and obligations of the parties in the event of Florsheim’s leaving the
employ of the Company as set forth at Sections 3(c) and 5.

 

(a)           The replacement
of two or more of the existing members of the Company’s Board of Directors by persons not nominated by the Board of Directors;
or

 

(b)           Any amendment
to Section 2 of Article III of the Company’s By-Laws to enlarge the number of directors of the Company if the change was
not supported by the existing Board of Directors; or

 

(c)           Any change in
Florsheim’s duties or powers such that his duties or powers, as changed, would be of a nature substantially inconsistent
with those he has rendered in the past and is currently rendering to the Company as its chief executive officer; or

 

(d)           A successful tender
offer for 15% or more of the shares or merger or consolidation or transfer of assets of the Company; or

 

(e)           A change in control
of more than 15% of the shares in the Company, such that Florsheim decides in good faith that he can no longer effectively discharge
his duties.

 

    	-6-

    	 

    

 

7.           Non-Disclosure
of Secret or Confidential Information, etc. Anything herein to the contrary notwithstanding, Florsheim, shall hold in a fiduciary
capacity for the benefit of the Company all knowledge of customer or trade lists and all other secret or confidential information,
knowledge or data of the Company obtained by him during his employment by the Company, which shall not be generally known to the
public or to the Company’s industry (whether or not developed by Florsheim) and shall not, during his employment hereunder
or after the termination of such employment, communicate or divulge any such information, knowledge or data to any person, firm
or corporation other than the Company or persons, firms or corporation designated by the Company.

 

8.           Reimbursement
for Expenses. Florsheim shall be reimbursed by the Company, upon his submission of appropriate vouchers, for all items of traveling,
entertainment and miscellaneous expenses, including membership dues at clubs used primarily for business purposes, reasonably incurred
by him on behalf of the Company within the scope of and during his employment hereunder.

 

9.           Assignment.
This Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Company, including any
company or corporation with which the Company may merge or consolidate or to which the Company may transfer substantially all of
its assets. Florsheim shall have no power, without the prior written consent of the Company, to transfer, assign, anticipate, mortgage
or otherwise encumber in advance any of the payments provided for herein nor shall said payments be subject to levy, seizure, or
sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by Florsheim nor shall they be transferable
by operation of law in the event of bankruptcy, insolvency or otherwise.

 

    	-7-

    	 

    

 

10.           Notices.
Any notice required or permitted hereunder shall be sufficiently given if sent by registered mail, with postage and registration
fee prepaid, to the party to be notified at his or its last known address as determined by due diligence by the party sending such
notice.

 

11.           Severability.
Nothing in this Agreement shall be construed so as to require the commission of any act contrary to law, and wherever there may
be any conflict between any provision of this Agreement and any contrary material statute, ordinance, regulation, or other rule
of law pursuant to which the parties have no legal right to contract, the latter shall prevail; but in such event the provision
of this Agreement so affected shall be curtailed and limited only to the extent necessary to bring it within the requirements of
such law. In no event shall such illegality or invalidity affect the remaining parts of this Agreement.

 

12.           Prior Employment
Agreements. This Agreement supersedes all oral or written employment agreements heretofore made by and between the parties
with respect to the subject matter hereof, and any and all such agreements are hereby canceled and terminated in their entirety.

 

13.           Applicable
Law. This Agreement, executed in the State of Wisconsin, shall be construed in accordance with and governed in all respects
by the laws of the State of Wisconsin to the extent not governed by federal law.

 

14.           Waiver, etc.
No amendment or modification of this Agreement shall be valid or binding on the Company unless made in writing and signed by a
duly authorized officer of the Company or upon Florsheim unless made in writing and signed by him. The waiver of a breach of any
provision of this Agreement by either party or the failure of either party to otherwise insist upon strict performance of any provision
hereof shall not constitute a waiver of any subsequent breach of any subsequent failure to strictly perform.

 

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15.           Headings,
etc. Section headings and numbers herein are included for convenience of reference only, and this Agreement is not to be construed
with reference thereto. If there shall be any conflict between such numbers and headings and the text of this Agreement, the text
shall control.

 

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

 

17.           Section 409A.

 

(a)           In order
to facilitate compliance with Section 409A of the Internal Revenue Code, the Company and Florsheim agree that they shall neither
accelerate nor defer or otherwise change the time at which any payment due hereunder is to be made, except as may otherwise be
permitted under Code Section 409A of the Internal Revenue Code and regulations thereunder.

 

(b)           Whether
a termination of employment has occurred will be construed in a manner consistent with the requirements described in IRS regulations
under Code Section 409A. Termination of employment by the Company on the one hand or by Florsheim on the other hand (other than
by death of Florsheim) shall be communicated by a written notice of termination to the other. That notice shall indicate the specific
termination provision in this agreement relied upon, to the extent applicable, shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination under the provisions so indicated and the termination date. The termination
date shall be no later than thirty (30) days after the date such written notice is provided but may be earlier if so specified
in the notice.

 

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18.           Termination
of Certain Benefits. Coverage under the arrangements described in Section 2(b) shall end upon Florsheim’s date of termination
of employment (or earlier death described in Section 3(e) or earlier disability described in Section 3(d)); provided, however,
that Florsheim (or his beneficiaries) shall be permitted to elect COBRA continuing health benefits coverage in accordance with
the usual rules of the Company’s health plan and such coverage shall be continued in accordance with those rules so long
as Florsheim (or his beneficiaries) pays the full COBRA premium generally applicable to other terminating employees (and their
beneficiaries).

 

IN WITNESS WHEREOF,
Florsheim has duly executed this Agreement and the Company has caused this Agreement to be executed by its duly authorized officers
and its corporate seal to be affixed hereunto, all as of the day and year first above written.

  

	 	 	 	WEYCO GROUP, INC.	 
	 	 	 	a Wisconsin corporation,	 
	 	 	 	 	 
	 	 	 	By	/s/ Thomas W.
    Florsheim, Jr.	 
	        	 	 	 	Thomas W.
    Florsheim, Jr.	 
	 	 	 	 	 	 
	 	 	 	Its         	Chairman of the Board	 
	 	 	 	 	 	 
	Attest:  	/s/ John Wittkowske	 	 	 	 
	 	Its Secretary	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	/s/ John W. Florsheim	 
	 	 	 	 	John W. Florsheim	 
	(SEAL)	 	 	 	 	 

 

    	-10-

    	 

    

 

 

 

SCHEDULE A

 

Life and Accidental Death and Dismemberment
Insurance

 

Health Insurance

 

Weyco Group, Inc. Pension

  Plan

 

Deferred Compensation Agreement

 

Weyco Group, Inc. Deferred Compensation
Plan

 

Weyco Group, Inc. Excess Benefits Plan

 

    	-11-RESTRICTED STOCK UNIT AWARD
AGREEMENT

 

Pursuant to the Restricted
Stock Unit Award Grant Notice (the “Grant Notice”) to which this Restricted Stock Unit Award Agreement
(this “Agreement”) is attached, STAAR Surgical Company, a Delaware corporation (the “Company”),
has granted to the Participant an award of restricted stock units (“Restricted Stock Units” or
“RSUs”) under the Company’s Amended and Restated 2003 Omnibus
Equity Incentive Plan, as amended from time to time (the “Plan”). Each vested Restricted Stock
Unit represents the right to receive one share of Common Stock (“Share”) to purchase the number of Shares
indicated in the Grant Notice. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan
and Grant Notice.

 

ARTICLE
I.

 

GENERAL

 

1.1             
Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions of the Plan, which are incorporated
herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

 

ARTICLE
II.

 

GRANT OF RESTRICTED STOCK UNITS

 

2.1             
Grant of RSUs. Pursuant to the Grant Notice and upon the terms and conditions set forth in the Plan and this Agreement,
effective as of the Grant Date set forth in the Grant Notice, the Company hereby grants to the Participant an award of RSUs under
the Plan in consideration of the Participant’s past and/or continued employment with or service to the Company or any Affiliates
and for other good and valuable consideration.

 

2.2             
Unsecured Obligation to RSUs. Unless and until the RSUs have vested in the manner set forth in Article 2 hereof,
the Participant will have no right to receive Common Stock under any such RSUs. Prior to actual payment of any vested RSUs, such
RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

 

2.3             
Vesting Schedule. Subject to Section 0 hereof, the RSUs shall vest and become nonforfeitable with respect to the
applicable portion thereof according to the vesting schedule set forth in the Grant Notice (rounding down to the nearest whole
Share).

 

2.4             
Consideration to the Company. In consideration of the grant of the award of RSUs pursuant hereto, the Participant
agrees to render faithful and efficient services to the Company or any Affiliate. .

 

2.5             
Forfeiture, Termination and Cancellation upon Termination of Service. Notwithstanding any contrary provision of this
Agreement or the Plan, upon the Participant’s termination of Service for any or no reason, all Restricted Stock Units which
have not vested prior to or in connection with such termination of Service (after taking into consideration any accelerated

 

vesting which
may occur in connection with such termination of Service (if any)) shall thereupon automatically be forfeited, terminated and cancelled
as of the applicable termination date without payment of any consideration by the Company, and the Participant, or the Participant’s
beneficiary or personal representative, as the case may be, shall have no further rights hereunder. No portion of the RSUs which
has not become vested as of the date on which the Participant incurs a termination of Service shall thereafter become vested.

 

    	 

    	 

    

 

2.6             
Issuance of Common Stock upon Vesting.

 

(a)               
Within 15 business days following the Committee’s certification of the Revenue Goal for the Measurement Period in
the fiscal year following the end of the Measurement Period, but in no event later than March 15th of such fiscal year (the “Settlement
Date”), the Company shall settle vested RSUs by delivering to the Participant (or any transferee permitted under Section
3.2 hereof) a number of Shares (either by delivering one or more certificates for such Shares or by entering such Shares in book
entry form, as determined by the Company in its sole discretion) equal to the number of RSUs subject to this Award that vested.
Notwithstanding the foregoing, in the event Shares cannot be issued pursuant to Section 18(f) of the Plan, the Shares shall be
issued pursuant to the preceding sentence as soon as administratively practicable after the Committee determines that Shares can
again be issued in accordance with such Section.

 

(b)              
As set forth in Section 18(a) of the Plan, the Company shall have the authority and the right to deduct or withhold, or
to require the Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state and local taxes
required by law to be withheld with respect to any taxable event arising in connection with the Restricted Stock Units. The Company
shall not be obligated to deliver any new certificate representing Shares to the Participant or the Participant’s legal representative
or enter such Shares in book entry form unless and until the Participant or the Participant’s legal representative shall
have paid or otherwise satisfied in full the amount of all federal, state and local taxes applicable to the taxable income of the
Participant resulting from the grant or vesting of the Restricted Stock Units or the issuance of Shares.

 

2.7             
Conditions to Delivery of Shares. The Shares deliverable hereunder may be either previously authorized but unissued
Shares, treasury Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable.
The Company shall not be required to issue or deliver any certificates or make any book entries evidencing Shares deliverable hereunder
prior to fulfillment of the conditions set forth in Section 18(f) of the Plan.

 

2.8             
Rights as Stockholder. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a stockholder
of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying
the RSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such
holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company).
No adjustment shall be made for a dividend or other right for which the record date is prior to the date the Shares are issued,
except as provided in Section 15 of the Plan.

 

ARTICLE
III.

 

OTHER PROVISIONS

 

3.1             
Administration. The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules
for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke
any such rules. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final
and binding upon the Participant, the Company and all other interested persons. No member of the Committee or the Board shall be
personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or
the RSUs.

 

    	 

    	 

    

 

3.2             
Grant is Not Transferable. During the lifetime of the Participant, the RSUs may not be sold, pledged, assigned or
transferred in any manner other than by will or the laws of descent and distribution or, subject to the consent of the Committee,
pursuant to a domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974,
as amended from time to time, or the rules thereunder. Neither the RSUs nor any interest or right therein shall be liable for the
debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary
or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy),
and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted
by the preceding sentence.

 

3.3             
Tax Consultation. The Participant understands that the Participant may suffer adverse tax consequences in connection
with the RSUs granted pursuant to this Agreement (and the Shares issuable with respect thereto). The Participant represents that
the Participant has consulted with any tax consultants the Participant deems advisable in connection with the RSUs and the issuance
of Shares with respect thereto and that the Participant is not relying on the Company for any tax advice.

 

3.4             
Adjustments. The Participant acknowledges that the RSUs are subject to modification and termination in certain events
as provided in this Agreement and Article 17 of the Plan.

 

3.5             
Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company
in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to the Participant
shall be addressed to the Participant at the Participant’s last address reflected on the Company’s records. Any notice
shall be deemed duly given when sent via email or when sent by reputable overnight courier or by certified mail (return receipt
requested) through the United States Postal Service.

 

3.6             
Participant’s Representations. If the Shares issuable hereunder have not been registered under the Securities
Act or any applicable state laws on an effective registration statement at the time of such issuance, the Participant shall, if
required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate
by the Company and/or its counsel.

 

3.7             
Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement.

 

3.8             
Governing Law. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement
and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.

 

3.9             
Conformity to Securities Laws. The Participant acknowledges that the Plan and this Agreement are intended to conform
to the extent necessary with all provisions of the Securities Act of 1933, as amended, and the Exchange Act and any other applicable
law. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a
manner as to conform to such laws. To the extent permitted by such laws, the Plan and this Agreement shall be deemed amended to
the extent necessary to conform to such laws.

 

3.10         
Amendment, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially
amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board; provided,
however, that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this
Agreement shall adversely affect the RSUs in any material way without the prior written consent of the Participant.

 

    	 

    	 

    

 

3.11         
Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees,
and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer
herein set forth in Section 3.2 hereof, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators,
successors and assigns.

 

3.12         
Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement,
if the Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and this Agreement shall be subject to
any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment
to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by
applicable laws, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

3.13         
Entire Agreement. The Plan, the Grant Notice and this Agreement (including all Exhibits thereto, if any) constitute
the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the
Participant with respect to the subject matter hereof.

 

3.14         
Section 409A. Notwithstanding any other provision of the
Plan, this Agreement or the Grant Notice, the Plan, this Agreement and the Grant Notice shall be interpreted in accordance
with the requirements of Section 409A of the Code. The Committee may, in its discretion, adopt such amendments to the Plan, this
Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive
effect), or take any other actions, as the Committee determines are necessary or appropriate to comply with the requirements of
Section 409A of the Code.

 

3.15         
Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as
herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall
not be construed as creating a trust. The Plan, in and of itself, has no assets. Participant shall have only the rights of a general
unsecured creditor of the Company and its Affiliates with respect to amounts credited and benefits payable, if any, with respect
to the RSUs, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to RSUs,
as and when payable hereunder.

 

3.16         
Not a Contract of Service Relationship. Nothing in this Agreement or in the Plan shall confer upon the Participant
any right to continue to serve as an Employee or other service provider of the Company or any of its affiliates or shall interfere
with or restrict in any way the rights of the Company and its affiliates, which rights are hereby expressly reserved, to discharge
or terminate the services of the Participant at any time for any reason whatsoever, with or without cause, except to the extent
expressly provided otherwise in a written agreement between the Company or an affiliate and the Participant.

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