Document:

EXHIBIT 10.9
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WESTROCK COFFEE COMPANY
2020 STOCK OPTION INCENTIVE PLAN
Amended and Restated Effective as of August 26, 2022
ARTICLE I
PURPOSE OF PLAN
This Westrock Coffee Company 2020 Stock Option Incentive Plan (this “Plan”), as amended and restated, effective as of August 26, 2022 in order to reflect the conversion of Westrock Coffee Holdings, LLC into Westrock Coffee Company, is designed to (a) promote the long-term financial interests and growth of Westrock Coffee Company, a Delaware corporation (the “Company”), and its Affiliates by attracting and retaining management and other personnel with the training, experience and ability to enable them to make a substantial contribution to the success of the Company; (b) motivate management personnel by means of growth-related incentives to achieve long-range goals; and (c) further the alignment of interests of Participants with those of the shareholders of the Company and the direct and indirect shareholders of the Company through opportunities for increased equity, or equity-based ownership, in the Company.
ARTICLE II
DEFINITIONS
As used in this Plan, the following words shall have the following meanings:
“Affiliate” means (a) in the case of a Person (other than an individual), another Person that, directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Person, and (b) in the case of an individual, (i) any member of the immediate family of such individual, including parents, siblings, spouse and children (including those by adoption) and any other Person who lives in such individual’s household; the parents, siblings, spouse and children (including those by adoption) of such immediate family member and in any such case any trust whose primary beneficiary is such individual or one or more members of such individual’s immediate family and/or lineal descendants; (ii) the legal representative or guardian of such individual or of any such immediate family member if such individual or any such immediate family member becomes mentally incompetent; and (iii) any Person controlling, controlled by or under common control with such individual.  Notwithstanding the foregoing, with respect to any financial sponsor, the term “Affiliate” shall not include any an operating portfolio company of such financial sponsor.
“Applicable Exchange” means the NASDAQ or such other securities exchange as may at the applicable time be the principal market for the Common Stock.
“Award” means a nonqualified option to purchase Shares granted pursuant to this Plan.
“Award Agreement” means a written agreement between the Company and a Participant that sets forth the terms, conditions and limitations applicable to an Award.
“Board” means the Board of Directors of the Company.
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“Cause” has the meaning set forth in the employment agreement between Participant and the Company or one of its Affiliates or, if Participant does not have an employment agreement, (a) Participant’s willful failure to substantially perform Participant’s duties; (b) any act of fraud, misappropriation, dishonesty, malfeasance or embezzlement by Participant in connection with the performance of Participant’s duties to the Company and its Affiliates; (c) Participant’s material violation of any policies of the Company or its Affiliates or any restrictive covenants applicable to Participant; or (d) Participant’s conviction of, or entering a plea of nolo contendere to, a felony.
“Change in Control” means the first to occur of the following events:
(a)The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%), indirectly or directly, of the voting power of the Company, other than any acquisition by (i) an Affiliate of the Company immediately prior to such acquisition, (ii) an employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Affiliates or (iii) Westrock Group and its Affiliates; or
(b)The consummation of an amalgamation, a merger, consolidation, recapitalization or similar business combination transaction of the Company or any direct or indirect Subsidiary thereof with any other entity (other than an entity controlled by (i) an Affiliate of the Company immediately prior to such transaction or (ii) Westrock Group and its Affiliates) or a sale or other disposition of all or substantially all of the assets of the Company to any other person or entity (other than (i) an Affiliate of the Company immediately prior to such transaction or (ii) Westrock Group and its Affiliates), following which the voting securities of the Company that are outstanding immediately prior to such transaction cease to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity (or the person or entity that owns substantially all of the Company’s assets either directly or through one or more subsidiaries) or any parent or other Affiliate thereof) at least fifty percent (50%) of the combined voting power of the securities of the Company or, if the Company is not the surviving entity, such surviving entity (or the person or entity that owns substantially all of the Company’s assets either directly or through one or more subsidiaries) or any parent or other Affiliate thereof, outstanding immediately after such transaction; provided, however, a transaction contemplated by clause (a) or (b) above shall only qualify as a Change in Control if, as of or in connection therewith, Westrock Group and its Affiliates have disposed of more than 50% of their investment in the Company for cash proceeds or marketable securities.
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto, the Treasury Regulations thereunder and other relevant interpretive guidance issued by the Internal Revenue Service or the Treasury Department. Reference to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor provision of the Code.
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“Committee” means the committee described in Article III (or if a committee has not been appointed by the Board, the Board shall be deemed to be the Committee for purposes of this Plan) or the Board, if it acts in lieu of the Committee.
“Common Stock” means common stock, $0.01 par value per share, of the Company.
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated pursuant thereto.
“Fair Market Value” means, except as otherwise determined by the Committee, the closing price of a Share on the Applicable Exchange on the date of measurement or, if Shares were not traded on the Applicable Exchange on such measurement date, then on the immediately preceding date on which Shares were traded on the Applicable Exchange, as reported by such source as the Committee may select. If there is no regular public trading market for Shares, the Fair Market Value of a Share shall be determined by the Committee in good faith and, to the extent applicable, such determination shall be made in a manner that satisfies Sections 409A and 422(c)(1) of the Code.
“Participant” means an employee, director, consultant or other service provider of the Company or any of its Affiliates who is selected by the Committee to participate in this Plan.
“Person” shall be construed broadly and includes, without limitation, an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof.
“Share” means a share of Common Stock.
“Westrock Group” shall mean Westrock Group, LLC.
ARTICLE III
ADMINISTRATION
3.1Generally.  This Plan shall be administered by the Board or, if the Board shall so determine, by a Committee consisting of one or more members of the Board.  The members of the Committee shall be selected by the Board.  If, for any reason, a member of the Committee shall cease to serve, the vacancy shall be filled by the Board.  During any period of time in which this Plan is administered by the Board, all references in this Plan or any Award Agreement to the Committee shall be deemed to refer to the Board.
3.2Power of the Committee.  Except as otherwise provided in an Award Agreement, the Committee shall have full power and authority to administer and interpret this Plan, Awards granted under this Plan and each Award Agreement, including, without limitation, the power to take the following actions:  (a) exercise all of the powers granted to it under this Plan; (b) construe, interpret and implement this Plan and any Award Agreement; (c) prescribe, amend and rescind rules and regulations relating to this Plan, including rules governing its own operations; (d) make all determinations necessary or advisable in administering this Plan, Awards and any Award Agreements; (e) correct any defect, supply any omission and reconcile
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any inconsistency in this Plan, Awards or any Award Agreement; (f) amend this Plan, Awards and any Award Agreement to reflect changes in applicable law or, without the consent of the Participants, make any other amendment not adverse to the Participants; (g) determine from among those Persons determined to be eligible for this Plan, the particular Persons who will be Participants; (h) grant Awards under this Plan and determine the terms and conditions of such Awards, consistent with the express limitations of this Plan; (i) delegate such powers and authority to such Persons as it deems appropriate; provided that any such delegation is consistent with applicable law and any guidelines as may be established by the Committee from time to time; and (j) waive any forfeiture, vesting or other conditions under any Awards.  The determination of the Committee on all matters relating to this Plan, any Award Agreement or any Awards shall be final, binding and conclusive upon all Persons.
3.3Professional Assistance; Committee Actions.  The Committee may employ counsel, consultants, accountants, appraisers, brokers or other Persons at the expense of the Company.  The Board, Committee, the Company, and the officers of the Company shall be entitled to rely upon the advice, opinions or valuations of any such Persons.  Except as otherwise provided in an Award Agreement, all actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon all Participants, the Company and all other interested Persons.  No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to this Plan or the Awards, and all members of the Committee shall be fully protected by the Company with respect to any such action, determination or interpretation.
ARTICLE IV
AWARDS
Grant of Awards.  From time to time, the Committee will determine the amounts, terms, conditions and limitations of Awards, consistent with the terms of this Plan.  The amount, terms, conditions and limitations of each Award under this Plan shall be set forth in an Award Agreement, in a form approved by the Committee.  Unless otherwise agreed by the Committee or provided in any Award Agreement, the Participant shall pay any taxes due in respect of any Award in cash.  Notwithstanding the foregoing, from and after the effective date of the Westrock Coffee Company 2022 Equity Incentive Plan, no new Awards shall be granted under this Plan.
ARTICLE V
SHARES SUBJECT TO THIS PLAN; LIMITATIONS AND CONDITIONS
5.1Shares Available for Awards.  Subject to Article VII, 3,390,9921 Shares shall be available for Awards under this Plan.  Unless restricted by applicable law, Shares related to Awards that are forfeited, repurchased, terminated, or canceled shall immediately become available for new Awards; provided, however, that any Shares withheld in payment of the exercise price or taxes in respect of any Award shall not become available for new Awards.
5.2Terms of Awards.  At the time an Award is made or amended or the terms or conditions of an Award are changed in accordance with the terms of this Plan or the Award

1 Note to Draft:  Based on the understanding that there will be no new awards granted under this Plan post-IPO, share pool matches the shares subject to the rollover options (based on Blake’s data).
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Agreement, the Committee may provide for limitations or conditions on such Award in accordance with this Plan.
5.3Transfer Restrictions.  Other than as specifically provided in the Award Agreement to be entered into by and between the Company and a given Participant, no Award or benefit under this Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall be void.  Unless otherwise determined by the Committee and other than as specifically provided in the Award Agreement, an Award shall not be transferable or assignable by the Participant other than by will or by the laws of descent and distribution.
5.4Rights as Shareholders.  Other than as specifically provided in the Award Agreement, Participants shall not be, and shall not have any of the rights or privileges of, shareholders of the Company in respect of any Awards settled, convertible or exchangeable into Shares, unless and until book entry representing such Shares has been made.
5.5Coordination with Other Benefit Plans.  Absent express provisions to the contrary in the applicable retirement, severance or other benefit plan or arrangement, no Award under this Plan (a) shall be deemed compensation for purposes of computing benefits or contributions under any retirement or severance plan of the Company or its Affiliates or (b) shall affect any benefits under any other benefit plan of any kind now or subsequently in effect under which the availability or amount of benefits is related to level of compensation.
ARTICLE VI
TRANSFERS AND LEAVES OF ABSENCE
For purposes of this Plan, unless the Committee determines otherwise:  (a) a transfer of a Participant’s service without an intervening period of separation among the Company and any of its Affiliates shall not be deemed a termination of service; and (b) a Participant who is awarded in writing a leave of absence or who is entitled to a statutory leave of absence shall be deemed to have remained in the service of the Company (and any of its Affiliates) during such leave of absence.
ARTICLE VII
ADJUSTMENTS FOR CHANGES IN CAPITALIZATION AND REORGANIZATION EVENTS
7.1Share Change.  In the event of an equity dividend, equity split, reverse equity split, separation, spinoff, reorganization, extraordinary dividend of cash or other property, equity combination, or recapitalization or similar event affecting the capital structure of the Company (each, a “Share Change”), the Committee shall, in such manner and on such terms and conditions as it, in good faith, deems appropriate, adjust any or all of the following:  (a) the number and kind of Shares subject to this Plan, as set forth in Section 5.1, and available for or covered by Awards, and the exercise price applicable to outstanding Awards; (b) any performance goals governing the vesting of such Awards; and (c) any other provisions of Awards affected by such Share Change as it deems, in good faith, to be equitable or required.
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7.2Reorganization Event.  In the event of a merger, consolidation, acquisition of property or shares, Share rights offering, liquidation, disaffiliation (other than a spinoff) (including, but not limited to, a Change in Control) or similar transaction or event (each, a “Reorganization Event”), the Committee shall in its discretion and in such manner and on such terms and conditions as it, in good faith, deems appropriate, make such substitutions or adjustments as it deems appropriate and equitable to the outstanding Awards.  Without limiting the generality of the foregoing, in the event of a Reorganization Event the Committee may take any one or more of the following actions:
(a)the Committee may provide, either by the terms of the agreement governing such transaction or by action taken prior to the occurrence of such transaction or event, for either (i) the cancellation of all or any portion of the outstanding Awards for an amount of cash or other property or a combination thereof having an aggregate value equal to the amount that could have been attained upon the realization of the Participant’s rights had such Award (or portion thereof) been fully vested, as determined by the Committee in its sole discretion, or (ii) the replacement of an Award, whether vested or unvested, with other rights or property, including cash, selected by the Committee in its sole discretion, which replacement award may be subject to vesting or the lapsing of restrictions, as applicable, on terms not substantially less favorable in the aggregate to the affected Participant than the terms of the Award for which such replacement award is substituted;
(b)the Committee may provide, either by the terms of such Award or by action taken prior to the occurrence of such transaction or event, that upon such event, such Award be assumed by the successor or survivor entity, or a parent or subsidiary thereof, or shall be substituted for by similar awards covering the securities of the successor or survivor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of securities subject to such Award, the exercise price thereof and any performance goals governing the vesting of such Awards; and
(c)the Committee may make adjustments in the number and type of Shares (or other securities or property) subject to outstanding Awards or in the terms and conditions of (including the exercise price, the repurchase price, the vesting schedule or the performance goals governing the vesting of such Awards), and the criteria included in, outstanding Awards and the related agreements and Awards which may be granted in the future.
7.3Fractional Shares.  Any adjustment provided under this Article VII may, in the Committee’s discretion, provide for the cash payment of any fractional Shares that might otherwise become subject to an Award.
7.4Other Distributions.  The Committee may in its discretion also make adjustments of the type described in this Article VII to take into account distributions to shareholders or any other event if the Committee determines that adjustments are appropriate to avoid distortions in the operation of this Plan and to preserve the value of Awards made hereunder.
7.5New Securities.  References in this Plan to Shares shall be construed to include any securities resulting from any adjustment described in this Article VII.
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ARTICLE VIII
AMENDMENT AND TERMINATION
8.1Awards.  The Committee shall have the authority to amend outstanding Awards; provided that no such action shall modify an Award in a manner adverse to the applicable Participant without the Participant’s consent, except to the extent such modification is provided for or contemplated in the terms of the Award or this Plan (including, for the avoidance of doubt, pursuant to Article VII).
8.2Plan.  The Board may amend, suspend or terminate this Plan; provided that no such action shall affect an outstanding Award in a manner adverse to the applicable Participant without the Participant’s consent, except to the extent such action is provided for or contemplated in the terms of the Award or this Plan (including, for the avoidance of doubt, pursuant to Article VII).
ARTICLE IX
GOVERNING LAW
9.1Generally.  This Plan, the legal relations between the parties and the adjudication and the enforcement thereof, shall be governed by and interpreted and construed in accordance with the laws of the State of Delaware applicable to agreements made and to be performed entirely within the State of Delaware, without regard to the conflict of law provisions thereof that could result in the application of the laws of any other jurisdiction.
9.2Non-U.S. Participants.  The Committee may make Awards to employees, non-employee members of the Board, consultants or other natural Persons having a service relationship with the Company or any of its Affiliates who are subject to the laws of jurisdictions other than those of the United States, which Awards may have terms and conditions that differ from the terms thereof as provided elsewhere in this Plan for the purpose of complying with non-U.S. laws or otherwise as deemed to be necessary or desirable by the Committee.
ARTICLE X
TAXES
10.1Section 409A of the Code.  It is intended that all Awards under this Plan and any Award Agreement, either be exempt from or comply with Section 409A of the Code.  Any ambiguity in this Plan and any Award Agreement shall be interpreted to comply with Section 409A of the Code.  In the case of an Award that constitutes a “nonqualified deferred compensation plan” subject to Section 409A of the Code, with respect to any provision providing for payment in connection with a Participant’s termination of employment, no termination of employment shall be deemed a termination from employment for purposes of such Award unless it is a “separation from service” under Section 409A of the Code.  To the extent applicable, as determined in the sole discretion of the Committee with and upon advice of counsel, each amount or benefit payable pursuant to this Plan and any Award Agreement shall be deemed a separate payment for purposes of Section 409A of the Code, and in no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under this Plan or any Award Agreement.  In the event the equity interests of the Company are publicly traded on
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an established securities market or otherwise and the Participant is a “specified employee” (as determined under the Company’s administrative procedure for such determinations, in accordance with Section 409A of the Code) at the time of the Participant’s termination of employment, any payments under this Plan or any Award Agreement that are deemed to be non-qualified deferred compensation subject to Section 409A of the Code and that are payable (whether in cash, Shares or other property) in connection with the Participant’s separation from service shall not be paid or begin payment until the earlier of the Participant’s death and the first day following the six (6)-month anniversary of the Participant’s separation from service.
10.2Tax Withholding.  If the Company or any Affiliate shall be required to withhold any amounts by reason of any federal, state, local or foreign tax rules or regulations in respect of any Award, the Company or any Affiliate shall be entitled to take such action as it deems appropriate in order to ensure compliance with such withholding requirements.  The Company or any of its Affiliates shall have the right, at its option, to take the following actions:  (a) require the Participant to pay or provide for payment of the amount of any taxes which the Company or any of its Affiliates may be required to withhold with respect to such Award; (b) deduct from any amount otherwise payable in cash (whether related to the Award or otherwise) to the Participant the amount of any taxes which the Company or any of its Affiliates may be required to withhold with respect to such Award; or (c) withhold Shares subject to the Award having a Fair Market Value of the minimum amount of any taxes which the Company or any of its Affiliates are required to withhold with respect to such Award (or such greater amount as determined by the Committee).
ARTICLE XI
MISCELLANEOUS
11.1ERISA.  This Plan is not subject to the Employee Retirement Income Security Act of 1974, as amended.
11.2No Right of Employment or Service.  Nothing contained herein, in an Award Agreement or in an Award shall confer on any employee, director or consultant any right to be continued in the employ or service of the Company or any Affiliates, constitute any contract or agreement of employment or other service, or affect an employee’s status as an at-will employee, nor shall anything contained herein, in any Award Agreement or an Award affect any rights which the Company or its Affiliates may have to change a person’s compensation or other benefits or terminate such person’s employment or association with the Company or its Affiliates for any reason (with or without Cause, with or without compensation) at any time.
11.3Unfunded Plan.  Unless the Committee determines otherwise, no benefit or promise under this Plan shall be secured by any specific assets of the Company or any of its Affiliates, nor shall any assets of the Company or any of its Affiliates be designated as attributable or allocated to the satisfaction of the Company’s obligations under this Plan.
11.4Non-Uniform Determinations.  The Committee’s determinations under this Plan need not be uniform and may be made by it selectively among Persons who receive or are eligible to receive Awards (whether or not such Persons are similarly situated).  Without limiting the generality of the foregoing, the Committee shall be entitled, among other things, to make
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non-uniform and selective determinations, and to enter into non-uniform and selective Award Agreements, as to the Persons to receive Awards under this Plan and the terms and provisions of Awards under this Plan.
11.5Section Headings; Construction.  The section headings contained herein are for the purpose of convenience only and are not intended to define or limit the contents of the sections.  All words used in this Plan shall be construed to be of such gender or number, as the circumstances require.  Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms and the word “or” is not exclusive.
11.6Severability.  In the event any provision of this Plan or any Award Agreement shall be held by a court of competent jurisdiction to be illegal, invalid or unenforceable for any reason, the illegality, invalidity or unenforceability shall not affect the remaining provisions of this Plan and such Award Agreement and such illegal, invalid or unenforceable provision shall be deemed modified as if such provision had not been included.
11.7Survival of Terms; Conflicts.  The provisions of this Plan shall survive the termination of this Plan to the extent consistent with, or necessary to carry out, the purposes thereof.  Each Award Agreement remains subject to the terms of this Plan; provided, however, in the event of any conflict between specific provisions of this Plan and an Award Agreement, the Award Agreement shall control.
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9Exhibit 10.13

 

NOTICE OF GRANT OF PERFORMANCE STOCK UNIT AWARD

UNDER TERMS AND CONDITIONS OF 2020 PERFORMANCE
INCENTIVE PLAN

 

 

	Name of Grantee:	[________]

 

	Total Target Number of Stock Units Subject to this Grant1:	[_____]

 

	Target Number of Non-GAAP EPS Stock Units Subject to this Grant1:	[_____]

 

	Target Number of Revenue Stock Units Subject to this Grant1:	[_____]

 

	Date of Grant:	[______], 2022

 

  

This Notice evidences that
you have been granted an award of restricted stock units (the “Stock Units”) of Lantronix, Inc. (the “Company”)
as to the “total target” number set forth above. Between zero percent (0%) and two hundred percent (200%) of the “total
target” number of Stock Units will vest and become nonforfeitable in accordance with the performance-based vesting requirements
set forth in the Terms (as defined below).

 

By your acceptance of the
award, you agree that the award of Stock Units is granted under and governed by the terms and conditions of the Company's 2020 Performance
Incentive Plan (as amended from time to time, the “Plan”) and the Terms and Conditions of Performance Stock Unit Award
(the “Terms”), which are attached and incorporated herein by this reference. This Notice of Grant of Performance Stock
Unit Award, together with the Terms, is referred to as the “Agreement” applicable to your award. The award has been
granted to you in addition to, and not in lieu of, any other form of compensation otherwise payable or to be paid to you. Capitalized
terms are defined in the Plan if not defined herein or in the Terms. The Plan, the Terms, and the Prospectus for the Plan are available
by calling the Company at (949) 453-3990.

 

By accepting this award, you
agree to execute any documents and take such further actions that the Company may reasonably request in order to establish and/or maintain
a brokerage account to hold the shares subject to this grant.

 

 

	LANTRONIX, INC.	ACCEPTED AND AGREED BY GRANTEE
	 	 
	 	 
	By: __________________________________	By: __________________________________
	Name:	Name:
	Title	

 

 

 

 

1 Subject
to adjustment under Section 7.1 of the Plan.

 

 

    	 	 	 

     

    

 

LANTRONIX, INC.

2020 PERFORMANCE INCENTIVE PLAN

TERMS AND CONDITIONS OF PERFORMANCE STOCK UNIT
AWARD

 

		1.	General.

 

These Terms and Conditions
of Performance Stock Unit Award (these “Terms”) apply to a particular grant of stock units under the Plan (the “Award”)
if incorporated by reference in the Notice of Grant of Performance Stock Unit Award (the “Grant Notice”) corresponding
to that particular grant. The recipient of the Award identified in the Grant Notice is referred to as the “Grantee.”
The effective date of grant of the Award as set forth in the Grant Notice is referred to as the “Award Date.” The number
of stock units covered by the Award is subject to adjustment under Section 7.1 of the Plan.

 

The Award was granted under
and subject to the Lantronix, Inc. 2020 Performance Incentive Plan (the “Plan”). Capitalized terms are defined in the
Plan if not defined herein. The Award has been granted to the Grantee in addition to, and not in lieu of, any other form of compensation
otherwise payable or to be paid to the Grantee. The Grant Notice and these Terms are collectively referred to as the “Agreement”
applicable to the Award.

 

As used in the Agreement,
the term “stock unit” means a non-voting unit of measurement which is deemed for bookkeeping purposes to be the equivalent
to one outstanding share of the Company’s Common Stock solely for purposes of the Plan and this Agreement. The Stock Units shall
be used solely as a device for the determination of the payment to eventually be made to the Grantee if such Stock Units vest pursuant
to Section 2 of the Terms. The Stock Units shall not be treated as property or as a trust fund of any kind.

 

		2.	Vesting.

 

The Award is subject to the
vesting terms and conditions set forth in Exhibit A hereto, incorporated herein by this reference. References to this Section 2
include Exhibit A. For clarity, except as expressly provided herein, the vesting date for any Stock Units allocated to a particular
Performance Period shall be the date on which the Administrator determines the vesting of such Stock Units for that Performance Period
in accordance with Exhibit A.

 

		3.	Effect of Termination of Employment or Services.

 

3.1       In
General. Except as otherwise expressly provided below in this Section 3, if the Grantee ceases to be employed by or ceases to provide
services to the Company or one of its Subsidiaries (the last day that the Grantee is employed by or provides services as a consultant
or director to the Company or one of its Subsidiaries prior to a period in which the Grantee is not employed by, and does not have any
such service relationship with, any such entity is referred to as the Grantee’s “Severance Date”), the Grantee’s
Stock Units shall terminate to the extent such units have not become vested pursuant to Section 2 or Section 8.2 hereof as of the Severance
Date (regardless of the reason for such termination of employment or services, whether with or without cause, voluntarily or involuntarily).

 

If any unvested Stock Units
are terminated pursuant to this Agreement, such Stock Units shall automatically terminate and be cancelled as of the applicable termination
date without payment of any consideration by the Company and without any other action by the Grantee, or the Grantee’s beneficiary
or personal representative, as the case may be.

 

In the event of any conflict
or inconsistency between this Agreement, on the one hand, and any employment, severance or similar agreement between the Grantee and the
Company entered into before the Award Date, on the other hand, regarding the treatment of the Award in connection with a termination of
the Grantee’s employment or services or a change in control or similar event (including, without limitation, whether and the extent
to which there is any accelerated vesting of the Award in any such circumstances), this Agreement shall control.

 

 

    	 	1	 

     

    

 

3.2       Termination
Due to Death or Disability. If the Grantee’s Severance Date occurs prior to the last day of the FY25 Performance Period as a
result of the Grantee’s death or Disability, and (other than in the case of a termination due to the Grantee’s death) if the
Grantee satisfies the Release Requirement set forth below, the portion of the Award allocated to the Performance Period in which the Severance
Date occurs shall remain outstanding and shall vest as to the number of Stock Units for that Performance Period as determined in accordance
with Exhibit A hereto as though the Grantee’s Severance Date did not occur on or before the date of such determination (with
any such vested Stock Units to be paid within two and one-half months after the end of that Performance Period). Any remaining Stock Units
allocated to that Performance Period and any Stock Units allocated to any subsequent Performance Period shall terminate as of the Grantee’s
Severance Date.

 

In addition, if the Grantee’s
Severance Date occurs as a result of the Grantee’s death or Disability, any Stock Units subject to the Award credited to the Grantee
pursuant to Exhibit A for a Performance Period that ended on or before the Severance Date (to the extent such credited Stock Units
are outstanding and have not previously vested) will vest as of the Severance Date (subject, however, other than in the case of a termination
due to the Grantee’s death, to the Grantee’s satisfying the Release Requirement set forth below).

 

3.3       Termination
In Connection with a Change in Control. If the Grantee’s Severance Date occurs within sixty (60) days prior to, or upon or after,
a Change in Control, as a result of a termination of the Grantee’s employment by the Company without Cause or a termination by the
Grantee for Good Reason, or due to the Grantee’s death or Disability upon or after a Change in Control, and in any such case both
(i) the Severance Date occurs before the last day of the FY25 Performance Period and (ii) (other than in the case of a termination due
to the Grantee’s death) the Grantee satisfies the Release Requirement set forth below, any Stock Units that remain outstanding and
eligible to vest following a Change in Control pursuant to Section 8.2 (to the extent not theretofore vested or terminated and after giving
effect to the Change in Control Vesting Percentage determined under Section 8.2) shall accelerate and vest as of the Grantee’s Severance
Date (or, if later, the date of the Change in Control) and any Stock Units subject to the Award credited to the Grantee pursuant to Exhibit
A for a Performance Period that ended on or before the Change in Control (to the extent such credited Stock Units are outstanding
and have not previously vested) will vest as of the Severance Date (or, if later, the date of the Change in Control). If both Section
3.2 and this Section 3.3 would apply in the circumstances, this Section 3.3 controls. In addition, if the Grantee’s Severance Date
occurs within sixty (60) days prior to a Change in Control as a result of a termination of the Grantee’s employment by the Company
without Cause or a termination by the Grantee for Good Reason, the timing requirements set forth in the Release Requirement shall be measured
from the date of the Change in Control and not from the Severance Date.

 

3.4       Defined
Terms; Release Requirement. For the purposes of the Award, the following definitions will apply:

 

“Cause”
shall have the meaning ascribed to such term (or a similar term) in any written employment, severance or similar agreement between the
Grantee and the Company in effect on the Grantee’s Severance Date or, if there is no such agreement or such agreement does not include
a definition of such term, shall mean: (i) gross negligence or willful misconduct in the performance of the Grantee’s duties to
the Company; (ii) intentional and continual failure to substantially perform the Grantee’s reasonably assigned duties for the Company;
(iii) the Grantee’s intentional conduct that is demonstrably and materially injurious to the Company, including but not limited
to committing or cooperating in an act of fraud, theft, or dishonesty against the Company; (iv) the Grantee’s breach of a fiduciary
duty to the Company or its shareholders; (v) the Grantee’s conviction for, or plea of guilty or nolo contendre to, the commission
of any felony or any crime involving deceit, material dishonesty, fraud, embezzlement, theft, any crime that results in or is intended
to result in personal enrichment at the expense of the Company, any crime that involves the use or sale of a controlled substance, or
any other offense that will adversely affect in any material respect the Company’s reputation or the Grantee’s ability to
perform the Grantee’s obligations or duties to the Company; or (vi) the Grantee’s violation of a material written policy of
the Company or breach of a written agreement with Company, including but not limited to a breach of any written employment, confidentiality
or similar agreement between the Grantee and the Company. Notwithstanding the foregoing, Cause shall not exist under (i), (ii), (iii),
(iv) or (vi) unless the Company provides the Grantee with written notice of the existence of one or more of the actions, conditions or
events set forth above in such definition of Cause, and if such action, event or condition is curable, the Grantee fails to cure such
action, event or condition within thirty (30) days after receipt of such notice.

 

 

 

    	 	2	 

     

    

 

“Change in Control”
means the occurrence of any of the following events:

 

(i)       A
change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group,
(“Person”) acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes
more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection (i), the
acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the
Company will not be considered a Change in Control; or

 

(ii)       A
change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any
twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to
the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to effectively control the Company,
the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

 

(iii)       A
change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has
acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from
the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets
of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the
following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity
that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to:
(1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock,
(2) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person,
that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4)
an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection
(iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value
of the assets being disposed of, determined without regard to any liabilities associated with such assets.

 

For purposes of this definition of Change
in Control, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation,
purchase or acquisition of stock, or similar business transaction with the Company. Notwithstanding the foregoing, a transaction shall
not be deemed a Change in Control unless the transaction qualifies as a change in the ownership of the Company, change in the effective
control of the Company or a change in the ownership of a substantial portion of the Company’s assets, each within the meaning of
Section 409A of the Code and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated
or may be promulgated thereunder from time to time (“Section 409A”).

 

“Disability”
means total and permanent disability of the Grantee as defined in Section 22(e)(3) of the Code.

 

“Good Reason”
shall have the meaning ascribed to such term (or a similar term) in any written employment, severance or similar agreement between the
Grantee and the Company in effect on the Grantee’s Severance Date or, if there is no such agreement or such agreement does not include
a definition of such term, shall mean the Grantee’s resignation within one hundred and twenty (120) days after the Company has taken
any of the following actions without the Grantee’s express written consent: (i) a material reduction in the Grantee’s base
salary, the Grantee’s target annual bonus opportunity or benefits (unless, outside of a Change in Control context, such reduction
is in connection with a salary or benefit reduction program of general application at the senior level executives of the Company); (ii)
a material breach by the Company of any written agreement with the Grantee, including the Company’s failure to obtain an agreement
from any successor to the Company to assume and agree to perform the obligations under this Agreement in the same manner and to the same
extent that the Company would be required to perform, except where such assumption occurs by operation of law; (iii) a material adverse
change in the Grantee’s title, duties or responsibilities (other than temporarily while the Grantee is disabled or as otherwise
permitted by applicable law); or (iv) relocation of the Grantee’s principal workplace by more than forty-five (45) miles, which
change results in a material increase in the Grantee’s one-way commute. Notwithstanding the foregoing, Good Reason shall not exist
unless the Grantee provides the Company written notice of the existence of the one or more of the actions, conditions or events set forth
above in this definition of Good Reason within ninety (90) days after the initial existence or occurrence of such action, condition or
event, and if such action, event or condition is curable, the Company fails to cure such action, event or condition within thirty (30)
days after its receipt of such notice.

 

 

    	 	3	 

     

    

 

The “Release Requirement”
means that the Grantee timely executes and delivers to the Company a release of claims in a form acceptable to the Company (a “Release”)
and the Grantee does not revoke such Release within any revocation period provided by applicable law. In any circumstances where the Release
Requirement is applicable pursuant to this Agreement, the Company shall provide the final form of Release to the Grantee not later than
seven (7) days following the Grantee’s Severance Date, and the Grantee shall be required to execute and return the Release to the
Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable
under applicable law) after the Company provides the form of Release to the Grantee.

 

		4.	Continuance of Employment/Service Required; No Employment Commitment.

 

Except as expressly provided
in Section 3 above, the vesting schedule requires continued employment or service through each applicable vesting date as a condition
to the vesting of the applicable installment of the Award and the rights and benefits under this Agreement. Except as expressly provided
in Section 3 above, employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the
Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment
or services as provided in Section 3 above or under the Plan.

 

Nothing contained in this
Agreement or the Plan constitutes an employment or service commitment by the Company, affects the Grantee’s status as an employee
at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Company
or any of its Subsidiaries, interferes in any way with the right of the Company or any of its Subsidiaries at any time to terminate such
employment or services, or affects the right of the Company or any of its Subsidiaries to increase or decrease the Grantee’s other
compensation or benefits. Nothing in this paragraph, however, is intended to adversely affect any independent contractual right of the
Grantee without his consent thereto.

 

		5.	Timing and Manner of Payment of Stock Units.

 

On or as soon as administratively
practical (and in all events not later than two and one-half months) following the date on which any Stock Units vest pursuant to any
provision of this Agreement, the Company shall deliver to the Grantee a number of shares of Common Stock (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 discretion) equal
(subject to adjustment pursuant to Section 7.1 of the Plan) to the number of Stock Units subject to this Award that vested on such date.
The Company’s obligation to deliver shares of Common Stock or otherwise make payment with respect to vested Stock Units is subject
to the condition precedent that the Grantee or other person entitled under the Plan to receive any shares with respect to the vested Stock
Units deliver to the Company any representations or other documents or assurances required pursuant to Section 8.1 of the Plan. The Grantee
shall have no further rights with respect to any Stock Units that are so paid or that terminate pursuant to the terms hereof.

 

		6.	Dividend and Voting Rights.

 

6.1       Limitations
on Rights Associated with Units. The Grantee shall have no rights as a stockholder of the Company, no dividend rights (except as expressly
provided in Section 6.2 with respect to Dividend Equivalent Rights) and no voting rights, with respect to the Stock Units and any shares
of Common Stock underlying or issuable in respect of such Stock Units until such shares of Common Stock are actually issued to and held
of record by the Grantee. No adjustments will be made for dividends or other rights of a holder for which the record date is prior to
the date of issuance of the stock certificate.

 

6.2       Dividend
Equivalent Rights Distributions. As of any date that the Company pays an ordinary cash dividend on its Common Stock, the Company shall
credit the Grantee with an additional number of Stock Units equal to (i) the per share cash dividend paid by the Company on its Common
Stock on such date, multiplied by (ii) the Total Target Number of Stock Units (including any dividend equivalents previously credited
hereunder) (with such Target Number adjusted pursuant to Section 7.1 of the Plan) outstanding and subject to the Award as of the related
dividend payment record date, divided by (iii) the fair market value of a share of Common Stock (as determined under Section 5.5 of the
Plan) on the date of payment of such dividend. Any Stock Units credited pursuant to the foregoing provisions of this Section 6.2 shall
be subject to the same vesting, payment and other terms, conditions and restrictions as the original Stock Units to which they relate.
No crediting of Stock Units shall be made pursuant to this Section 6.2 with respect to any Stock Units which, as of such record date,
have either been paid pursuant to Section 5 or terminated pursuant to the terms hereof.

 

 

    	 	4	 

     

    

 

		7.	Non-Transferability.

 

Neither the Award, nor any
interest therein or amount or shares payable in respect thereof may be sold, assigned, transferred, pledged or otherwise disposed of,
alienated or encumbered, either voluntarily or involuntarily. The transfer restrictions in the preceding sentence shall not apply to (a)
transfers to the Company, or (b) transfers by will or the laws of descent and distribution.

 

		8.	Adjustments; Change in Control.

 

8.1       Adjustments.
Upon the occurrence of certain events relating to the Company’s stock contemplated by Section 7.1 of the Plan (including, without
limitation, an extraordinary cash dividend on such stock), the Administrator shall make adjustments in accordance with such section in
the number of Stock Units then outstanding and the number and kind of securities that may be issued in respect of the Award. No such adjustment
shall be made with respect to any ordinary cash dividend for which dividend equivalents are credited pursuant to Section 6.2. For purposes
of clarity, Exhibit A controls as to any adjustment of the performance goals, criteria or metrics.

 

8.2       Change
in Control. If, at any time after the Award Date and before the last day of the FY25 Performance Period, a Change in Control occurs,
the performance-based vesting terms and conditions set forth in Exhibit A hereto shall no longer apply to the portion of the Award
allocated to the Performance Period in which the Change in Control occurs and each subsequent Performance Period (if any), and the following
rules shall apply with respect to such portion:

 

		·	With respect to the Performance Period in which
the Change in Control occurs, the Award shall remain outstanding with respect to a number of Stock Units to be credited for that Performance
Period as determined in accordance with Exhibit A hereto, with the Applicable Percentage for that Performance Period (referred
to as the “Change in Control Vesting Percentage”) to be equal to the greater of: (i) one hundred percent (100%); or
(ii) the Applicable Percentage for that Performance Period determined in accordance with Exhibit A hereto as though such Performance
Period ended as of the last day of the fiscal quarter of the Company coinciding with or last preceding the date on which such Change in
Control occurs (the “Short Period End Date”) and with the “Non-GAAP EPS CAGR” and “Revenue CAGR”
performance levels set forth in Exhibit A hereto pro-rated (except as expressly otherwise set forth in Exhibit A hereto)
for the portion of such Performance Period occurring through the Short Period End Date (for example, if the Change in Control occurred
during the second fiscal quarter during the Performance Period and before the last day of that quarter, such performance levels would
be pro-rated for the 25% of the Performance Period coinciding with the first quarter of the Performance Period, and performance against
those goals would be assessed based on actual performance for such first quarter and after taking into account any adjustments pursuant
to Exhibit A), provided that if the Change in Control occurs in the first quarter of the Performance Period, the vesting percentage
pursuant to this clause (ii) shall be deemed to be one hundred percent (100%) (the vesting percentage so determined pursuant to this clause
(ii), the “Change in Control Applicable Percentage”).

 

In the event the Change in Control
occurs during the FY25 Performance Period, the Change in Control Vesting Percentage for the FY25 Performance Period shall be equal to
the greater of (i) one hundred percent (100%), or (ii) the Change in Control Applicable Percentage determined as set forth above but adjusted
in accordance with Exhibit A based on the Company’s Relative TSR Ranking (with the TSR Measurement Period to be deemed to
end for this purpose on the Short Period End Date and the TSRs for the Company and each of the Index Companies to be determined based
on this shortened TSR Measurement Period).

 

The number of Stock Units credited
for the Performance Period in which the Change in Control occurs that remain outstanding, determined as set forth above in this clause,
shall vest on the last day of such Performance Period, subject to (except as otherwise expressly provided in Section 3) the Grantee’s
continued employment or service with the Company or any of its Subsidiaries through such vesting date.

 

		·	With respect to any Performance Period that has
not commenced as of the date of the Change in Control, the Award shall remain outstanding with respect to a number of Stock Units to be
credited for that Performance Period as determined in accordance with Exhibit A hereto, based on the number of Stock Units allocated
to that Performance Period (as provided in the Grant Notice and Exhibit A hereto) and applying, except as provided in the following
paragraph, the Change in Control Vesting Percentage determined as set forth above (for clarity, the Change in Control Vesting Percentage
determined for the Performance Period in which the Change in Control occurs shall also apply to any Performance Period that had not commenced
as of the date of the Change in Control except as provided in the following paragraph).

 

 

    	 	5	 

     

    

 

In the event the Change in Control occurs
prior to the start of the FY25 Performance Period, the Change in Control Vesting Percentage as to the FY25 Performance Period shall be
equal to the greater of (i) one hundred percent (100%), or (ii) the Change in Control Applicable Percentage determined as set forth above
(as determined for the Performance Period in which the Change in Control occurs) but adjusted in accordance with Exhibit A based
on the Company’s Relative TSR Ranking (with the TSR Measurement Period to be deemed to end for this purpose on the Short Period
End Date and the TSRs for the Company and each of the Index Companies to be determined based on this shortened TSR Measurement Period).

 

The number of Stock Units credited with
respect to any such Performance Period, determined as set forth above in this clause, shall vest on the last day of such Performance Period,
subject to (except as otherwise expressly provided in Section 3) the Grantee’s continued employment or service with the Company
or any of its Subsidiaries through such vesting date.

 

		·	In the event that Section 7.2(a) of the Plan applies
and the Administrator has not made a provision for the substitution, assumption, exchange or other continuation or settlement of the Award,
the Award shall vest on the Change in Control as to the number of Stock Units provided above in this Section 8.2. The second sentence
of Section 7.2(a) of the Plan is hereby superseded by the provisions hereof and shall not apply to the Award.

 

For purposes of clarity, the determination of
the number of Stock Units to be credited for a Performance Period in accordance with the first and second bullet points above shall take
into account, and give effect to, the maximum vesting level applicable to the Performance Period pursuant to Exhibit A as well
as the offsets provided for in Exhibit A for any Stock Units subject to the Award that vested for a prior Performance Period. For
purposes of clarity, the provisions of this Section 8.2 shall not apply as to any Stock Units that relate to a Performance Period that
ended prior to the date of the Change in Control or any Stock Units that have terminated or were accelerated pursuant to Section 3 (except
as otherwise expressly provided in Section 3.3) prior to the occurrence of such Change in Control.

 

		9.	Tax Withholding.

 

The Company shall reasonably
determine the amount of any federal, state, local or other income, employment, or other taxes which the Company or any of its Subsidiaries
may reasonably be obligated to withhold with respect to the grant, vesting or other event with respect to the Stock Units. The Grantee
shall be solely responsible for the satisfaction of such withholding requirements. If such withholding event occurs in connection with
the distribution of shares of Common Stock in respect of the Stock Units and subject to compliance with all applicable laws, the Company
shall automatically withhold and reacquire the appropriate number of whole shares, valued at their then Fair Market Value, to satisfy
any withholding obligations of the Company or its Subsidiaries with respect to such distribution. If, however, any withholding event occurs
with respect to the Stock Units other than in connection with the distribution of shares of Common Stock in respect of the Stock Units,
or if the Company cannot legally satisfy such withholding obligations by such withholding and reacquisition of shares as described above,
the Company shall be entitled to require a cash payment by or on behalf of the Grantee and/or to deduct from other compensation payable
to the Grantee the amount of any such withholding obligations.

 

		10.	Notices.

 

Any notice to be given under
the terms of this Agreement shall be in writing and addressed to the Company at its principal office to the attention of the Secretary,
and to the Grantee at the Grantee’s last address reflected on the Company’s employment records. Any notice shall be delivered
in person or shall be enclosed in a properly sealed envelope, addressed as aforesaid, registered or certified, and deposited (postage
and registry or certification fee prepaid) in a post office or branch post office regularly maintained by the United States Government
or a courier of internationally recognized prominence. Any such notice shall be given only when received, but if the Grantee is no longer
a Service Provider, shall be deemed to have been duly given five business days after the date mailed in accordance with the foregoing
provisions of this Section 10.

 

 

    	 	6	 

     

    

 

		11.	Plan.

 

The Award and all rights of
the Grantee under this Agreement are subject to the terms and conditions of the Plan, incorporated herein by this reference. The Grantee
agrees to be bound by the terms of the Plan and this Agreement. The Grantee acknowledges having read and understanding the Plan, the Prospectus
for the Plan, and this Agreement. Unless otherwise expressly provided in other sections of this Agreement, provisions of the Plan that
confer discretionary authority on the Board or the Administrator do not (and shall not be deemed to) create any rights in the Grantee
unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Board or the Administrator so conferred
by appropriate action of the Board or the Administrator under the Plan after the date hereof.

 

		12.	Entire Agreement.

 

This Agreement and the Plan
together constitute the entire agreement and supersede all prior understandings and agreements, written or oral, of the parties hereto
with respect to the subject matter hereof.

 

The Plan and this Agreement
may be amended pursuant to Section 8.6 of the Plan. Any such amendment must be in writing and signed by the Company. The Company
may, however, unilaterally waive any provision hereof in writing to the extent such waiver does not adversely affect the interests of
the Grantee hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision or a waiver
of any other provision hereof.

 

The Administrator will have
the exclusive discretion and authority to establish administrative rules, forms and procedures for the administration of the Plan, to
construe and interpret the Plan and awards granted pursuant to the Plan (including the Award and this Agreement) and to decide any and
all questions of fact, interpretation, definition, computation or administration arising in connection with the operation of the Plan,
including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations,
computations and other actions of the Administrator will be binding and conclusive on all persons.

 

		13.	Limitation on Grantee’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. Neither the Plan nor any underlying program, in and of itself,
has any assets. The Grantee shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited
and benefits payable, if any, with respect to the Stock Units, and rights no greater than the right to receive the Common Stock as a general
unsecured creditor with respect to Stock Units, as and when payable hereunder.

 

		14.	Counterparts.

 

This Agreement may be executed
simultaneously in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one
and the same instrument.

 

		15.	Section Headings.

 

The section headings of this
Agreement are for convenience of reference only and shall not be deemed to alter or affect any provision hereof.

 

		16.	Governing Law.

 

This Agreement shall be governed
by and construed and enforced in accordance with the laws of the State of Delaware without regard to conflict of law principles thereunder.

 

 

    	 	7	 

     

    

 

		17.	Construction.

 

It is intended that the terms
of the Award will not result in the imposition of any tax liability pursuant to Section 409A of the Code. This Agreement shall be construed
and interpreted consistent with the foregoing intents.

 

		18.	Clawback Policy.

 

The Stock Units are subject
to the terms of the Company’s recoupment, clawback or similar policy as it may be in effect from time to time, as well as any similar
provisions of applicable law, any of which could in certain circumstances require repayment or forfeiture of the Stock Units or any shares
of Common Stock or other cash or property received with respect to the Stock Units (including any value received from a disposition of
the shares acquired upon payment of the Stock Units).

 

		19.	Section 280G.

 

Notwithstanding anything contained
in this Agreement to the contrary, to the extent that any payments and benefits provided under this Agreement to or for the benefit of
the Grantee, together with any payments and benefits provided to or for the benefit of the Grantee under any other plan or agreement of
the Company or any of its Subsidiaries or affiliates (such payments or benefits are collectively referred to as the “Benefits”),
would be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Code, the Grantee’s Benefits
shall be reduced (but not below zero) if and to the extent that a reduction in the Benefits would result in the Grantee retaining a larger
amount, on an after-tax basis (taking into account federal, state and local income taxes and the Excise Tax), than if the Grantee received
all of the Benefits (such reduced amount is referred to hereinafter as the “Limited Benefit Amount”). If a reduction
in the Grantee’s Benefits is required pursuant to the preceding sentence, in order to effectuate the Limited Benefit Amount, the
Company shall reduce or eliminate (if and to the extent necessary) the Grantee’s Benefits by first reducing or eliminating amounts
which are payable from any cash severance, then from any payment or benefit in respect of any equity award that is treated as contingent
on the change in ownership or control but is not covered by Treas. Reg. Section 1.280G-1 Q/A 24(b) or (c), then from any payment or benefit
in respect of an equity award that is covered by Treas. Reg. Section 1.280G-1 Q/A 24(c), in each case in reverse order beginning with
payments or benefits which are to be paid the farthest in time from the Determination (as hereinafter defined). A determination as to
whether a reduction in the Grantee’s Benefits to the Limited Benefit Amount pursuant to this Section 19, and the amount of such
Limited Benefit Amount (the “Determination”), shall be made by the Company’s independent public accountants or
another certified public accounting firm or executive compensation consulting firm of national reputation designated by the Company at
the Company’s expense.

 

 

    	 	8	 

     

    

 

EXHIBIT A

 

VESTING TERMS AND CONDITIONS

 

[To be determined at the time of grant]

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